Life is unpredictable, but ensuring your family’s financial security doesn’t have to be. The LIC New Tech Term Plan-854 is a modern and affordable insurance solution that offers comprehensive coverage to secure your family’s future. Exclusively available online, this plan ensures a hassle-free experience, making it a great choice for tech-savvy individuals.
What is LIC New Tech Term Plan-854?
The LIC New Tech Term Plan-854 is a non-linked, non-participating, pure protection term insurance policy that provides financial security to your family in case of your untimely demise. It offers high coverage at an affordable premium and is designed to be purchased online without the need for intermediaries.
Key Features of LIC New Tech Term Plan-854
- High Coverage at Low Premiums: Get substantial life cover at competitive rates.
- Online Purchase: Convenient and easy to buy without physical paperwork.
- Two Death Benefit Options: Choose between Level Sum Assured or Increasing Sum Assured to suit your needs.
- Multiple Policy Terms: Flexibility to choose your policy term and premium payment term.
- Premium Payment Modes: Options for regular, limited, or single premium payment.
- Optional Riders: Enhance your coverage with add-ons like the Accident Benefit Rider.
- Global Coverage: Offers protection even when you are abroad.
- Tax Benefits: Premiums paid and payouts are eligible for tax benefits under applicable laws.
Why Choose LIC Tech Term Plan?
- 100% Online: No agents, no middlemen – just a seamless online application process.
- Cost-Effective: Lower premiums compared to traditional offline term plans.
- Customizable: Tailor your coverage with two death benefit options and additional riders.
- Financial Security: Ensures your family remains financially stable in your absence.
- Trust of LIC: Backed by one of India’s most trusted insurers.
Plan Details
| Eligibility Criteria | Details |
|---|---|
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 65 years |
| Policy Term | 10 to 40 years |
| Sum Assured | ₹50,00,000 (minimum) |
| Premium Payment Term | Regular, Limited, or Single Pay |
| Premium Payment Mode | Yearly or Half-Yearly |
Benefits of LIC Tech Term Plan
1. Death Benefit
- In case of the policyholder’s death during the policy term, the nominee receives the death benefit as per the chosen option:
- Level Sum Assured: Fixed sum assured throughout the policy term.
- Increasing Sum Assured: Sum assured increases annually to keep up with inflation.
2. Maturity Benefit
This is a pure protection plan, so there is no maturity benefit.
3. Optional Riders
Enhance your policy with the Accident Benefit Rider, which provides additional coverage in case of accidental death.
4. Tax Benefits
- Premiums paid qualify for tax deductions under Section 80C of the Income Tax Act.
- Death benefits are exempt under Section 10(10D).
How to Apply for LIC New Tech Term Plan-854
- Visit LIC’s Official Website: Navigate to the Tech Term Plan section.
- Calculate Premium: Use the online premium calculator to estimate your premium based on sum assured and policy term.
- Fill the Application: Provide personal, medical, and nominee details.
- Submit Documents: Upload necessary documents like ID proof, address proof, and income proof.
- Make Payment: Pay the premium online via a secure payment gateway.
- Receive Policy Document: Once approved, you will receive the policy details via email.
FAQs
1. What makes LIC Tech Term different from other term plans?
LIC Tech Term is an online-only plan, offering high coverage at lower premiums compared to offline plans.
2. Can I purchase LIC Tech Term if I am living abroad?
Yes, this plan provides global coverage and can be purchased by Indian citizens residing abroad.
3. Is a medical examination mandatory?
Yes, a medical examination may be required based on your age, sum assured, and health conditions.
4. Can I add riders to this plan?
Yes, you can enhance the policy by opting for the Accident Benefit Rider.
5. What happens if I miss a premium payment?
A grace period of 30 days is provided for yearly and half-yearly premium modes. Beyond that, the policy may lapse, but it can be revived within a specific period.
Conclusion
The LIC New Tech Term Plan-854 is an excellent choice for individuals who prioritize financial security for their family while keeping affordability in mind. Its simple online process, customizable options, and the backing of LIC’s trust make it a standout term insurance plan. Secure your family’s future today with LIC Tech Term and enjoy peace of mind knowing they’ll always be financially protected.
Hi there, I am Deepam Mishra full time Blogger & Local SEO Expert. I would love to create websites and different niches blogs. With over 3+ Years of experience in Web Development and Local SEO i helped & Support so many Business.