Investor Education
LIC Term Insurance 1 Crore Plan Online in India
Life is unpredictable, and ensuring the security of your family against any unforeseen tragedy is crucial. Hence, LIC term insurance 1 crore plans come to be the safety net for your family. These plans offer different benefits, ensuring that your family doesn't face any financial falls in the future.
In this article, we will share the details of the LIC term insurance one crore plans — along with how you can purchase a plan and get yourself insured.
What is LIC Term Insurance 1 Crore?
The Life Insurance Corporation of India (LIC) has designed numerous term insurance policies that offer a sum assured of Rs. 1 Crore and more. These plans provide a high sum assured at affordable premiums along with several benefits to the policyholders and their beneficiaries.
The LIC term insurance 1 Crore is a complete risk protection plan, offering a death benefit of Rs. 1 Crore to one’s family in case of an unfortunate death during the policy term. Hence, providing an assured sum to the family to manage any medical emergencies.
Therefore, you can choose the LIC term insurance 1 Crore if you’re the sole income earner of your family to secure their future.
Benefits of LIC Term Insurance 1 Crore
Below we have mentioned some of the LIC term insurance 1 Crore benefits. Have a look at them:
- Wide Security of 1 Crore
The LIC term insurance 1 Crore offers a financial security of Rs. 1 Crore to your family, in case of any unfortunate turn of events.
- Affordable Premiums
The premiums for a LIC one crore plan are affordable as compared to other plans offered by life insurance companies. For example, let’s say that you are a 30-year-old individual who decides to buy the LIC New Tech Term Plan. All you have to invest is Rs. 1,500 per month then.
- Tax Saving Benefits
The premiums paid against the LIC term insurance 1 Crore are also eligible to leverage tax benefits under Section 80C of the Income Tax, 1961.
List of LIC Term Insurance 1 Crore Plans 2024
There are three LIC term insurance 1 Crore plans:
- LIC New Tech Term
- LIC New Jeevan Amar
- LIC Jeevan Kiran
You can check the eligibility criteria for all the LIC one crore term plans below:
| Parameters | LIC New Tech Term | LIC New Jeevan Amar | LIC Jeevan Kiran |
| Entry Age | 18 years to 65 years | 18 years to 65 years | 18 years to 65 years |
| Maximum Maturity Age | 80 years | 80 years | 80 years |
| Minimum Basic Sum Assured | 50 Lacs | 25 Lacs | 15 Lacs |
| Policy Term | 10-40 years | 10-40 years | 10-40 years |
| Premium Paying Term |
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| Policy Purchase | Only available online | Only available offline | Available both online and offline |
You can get an estimate of the premiums you would be required to pay using a LIC term insurance premium calculator.
New Tech Term — LIC 1 Crore Plan
New Tech Term is a LIC one crore term plan that allows you to secure your family’s future with a sum assured of Rs. 1 Crore and more. In case of an unfortunate death during the policy term, the LIC cover of 1 Crore will be provided to your family.
The plan can only be purchased online from LIC’s official website. Let’s have a look at some of the plan’s key features and benefits:
Key Features and Benefits of New Tech Term- There are two death benefit options available in the LIC New Tech Term insurance plan: Level Sum Assured and Increasing Sum Assured.
- Special term insurance premium rates are offered to women and non-smoking customers.
- Customers can select from three payment options: Regular Premium, Single Premium, and Limited Premium.
- On payment of an additional premium, the term plan also offers Accident Benefit Rider.
- There’s an option to choose between the policy term and the premium payment term.
- One can also choose to avail the death benefit in instalments.
- The one crore term insurance also offers a rebate on term insurance plans with a sum assured of Rs. 1 Crore or more.
New Jeevan Amar — LIC 1 Crore Plan
The LIC New Jeevan Amar plan is offered by LIC only to its offline customers. One can purchase this policy from licensed agents, brokers, and insurance marketing firms.
It's a pure protection plan that offers LIC life cover of 1 Crore at affordable premium rates. Here are all the key features and benefits of this term plan:
Key Features and Benefits of New Jeevan Amar- There are two death benefit options that the customers can choose from: Level Sum Assured and Increasing Sum Assured.
- If you wish to, you can enhance your life insurance coverage with the Accident Benefit Rider option.
- Women get access to special premium rates offered by the LIC New Jeevan Amar plan.
- There are three payment options that customers can select from: Regular Premium, Single Premium, and Limited Premium.
- The insurer can also choose between the LIC 1 crore plan term and the premium payment term.
- The New Jeevan Amar insurance policy also offers the benefit of availing the death benefit in instalments.
- On selecting the higher sum assured (that is, above Rs. 1 Crore), the term insurance plan offers a rebate.
Jeevan Kiran — LIC 1 Crore Plan
The LIC Jeevan Kiran plan is one of the top 1 crore term insurance plans offered by LIC. This plan can be purchased both online and offline, as per your choice. Additionally, there are two choices to pay the premiums: regular or single premiums payment modes.
Let's have a look at the key features and benefits of the LIC Jeevan Kiran plan:
Key Features and Benefits of Jeevan Kiran- The Jeevan Kiran plan offers death benefit on the death of the insurer and pays the premiums at the maturity.
- Special premium rates are offered for the women and non-smoker customers.
- Customers can choose to enhance their base coverage with the Accident Benefit Rider or the accidental death disability rider.
- You get to choose the most suitable policy term as per your needs.
- The family of the insurer can receive the death benefit either as a lump sum amount or in regular instalments.
- This term insurance plan offers high sum assured rebates.
How to Choose the Best LIC Term Insurance for 1 Crore?
Here are three the steps you should take before choosing the best LIC 1 crore term insurance plan for yourself:
- Determine the policy tenure.
First, choose the term insurance policy according to the term that you need to protect your family for. Make sure that the plan offers coverage when you need it.
- Know their eligibility criteria.
Next, research and know the policy's eligibility criteria, features, and benefits.
- Analyze and compare term insurance plan options.
Pick up the plan options that you have chosen so far and compare them based on their features, benefits, and premium rates. Decide on the best term insurance plan for 1 crore as per your needs.
With these steps, you can choose the best LIC term insurance plan for 1 crore. Now, how can you invest into your chosen term insurance plan? Let's find out.
How to Invest in LIC Term Insurance?
You can invest in a LIC term insurance plan either online or offline or both, depending on the plan you've chosen. To invest online, you can proceed directly from the official website of LIC. However, to invest offline, you'll need to take help from LIC agents or other intermediaries.
Conclusion
Purchasing an LIC term insurance policy for one crore can provide a wide financial shield to your loved ones. The good part about investing in LIC is that the insured also gets tax benefits up to a limit that reduces the liability.
Before purchasing an insurance plan, you must compare the benefits of life insurance plans that you're choosing.
FAQs
1. Which is the best LIC term insurance for 1 crore?
There are three best LIC one crore term insurance plans: LIC New Tech Term, LIC New Jeevan Amar, and LIC Jeevan Kiran. You can choose as per your requirements and financial suitability.
2. Is it safe to invest in LIC term insurance 1 crore?
Yes, LIC is a good choice to invest into for term insurance plans. The 1 Crore term plans are purely safe to invest into.
3. Which LIC policy is worth 1 crore?
The LIC Term Insurance 1 Crore plan is worth one crore as it secures the future of your loved ones with a life cover of 1 crore.
4. How much is the LIC premium for 1 crore?
The LIC premium for 1 crore term insurance depends on several factors such as health, age, policy term, and sum assured. Using the LIC term insurance 1 crore premium calculator, you can check the premium for the LIC 1 crore insurance term online.
5. What is the maximum financial cover from the LIC 1 crore plan?
There is no limit to how much you can select the financial cover from the LIC one crore policy.