As we are
moving towards cashless economy we now have all the resources that will help us
to rely online for our entire day-to-day task. Moreover, we now can take LIC
term plan without making any huge investment. This is only possible if you make
an online payment.
Features of
Online LIC Term Plan:
• All you need is to visit the official
website of LIC India to take the policy.
• The policyholder does not get any maturity
benefit as it is a pure term insurance plan.
• 25 Lakhs is the minimum sum that one can
assure. On the other hand, there is no limit on the maximum sum that you can
assure.
• The other benefits of purchasing the online
term plan of LIC are that they are cheaper than the traditional methods of
purchasing the plans.
• Payment can be made only on an annual
basis.
• An insurance cover can be purchased only
for yourself.
• This plan does not offer any rider.
• Policy tenure: minimum – 10 years, maximum
– 35 years
• Entry age: min – 18 Years, max- 60 years
• Maximum age limit- 75 years.
• Saves you from the hassle of cash payments
as you can pay it online.
Cost of the LIC
LIC has
emerged out as a surprise to a lot of us. The premium paid for an e-Term is
quite reasonable. When compared to other players in the market ICICI Pru iCare
charges more premium as compared to LIC Term Plan. However, an e-Term plan that
offers an assured sum of fewer than 50 Lakhs is the costliest term plan for a
person who leads a healthy lifestyle. When it comes to the cost we very well
know that the offline term insurance plans offered by LIC are quite
expensive. HDFC Click2Protect costs you
less than LIC e-Term. These premium offered by these companies are much more
than the premium offered by other insurance providers in the market.
Tenure and Age
Condition Of LIC Term Plan
LIC Online Term
plan offers its policyholders highly flexible terms and conditions in the case
of age and tenure. One of the biggest examples is that no other insurance plan
offers you to a term insurance cover at the age of 75. Being the oldest insurance provider the
company cares for the elderly people.
Max Maturity Age
|
Max Age of Entry
|
Maximum Policy Term
|
|
|
LIC e-Term
|
75
|
60
|
35
|
|
ICICI Pru iProtect
|
65
|
60
|
30
|
|
HDFC Click2Protect
|
65
|
55
|
30
|
|
SBI Life eShield
|
70
|
65
|
30
|
Easy to Subscribe
To take the Subscription of LIC Online Term plan is not quite an easy task. It is quite
tiring to fill in the entire form. You need to go through several verification
steps. Plus, you need to fill up a lot of information which is simply useless.
You might demotivate you but you need to actualize the fact that at the end of
the day it is a government organisation.
Riders offered by LIC Online Term Plans
One of the
most important things is that you need to know is that the online Term Plan
does not offer any rider benefit. However, several private insurance providers
also render rider facility using online term plans.
