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LIC Tech Term (854) Premium Calculator

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LIC Tech Term Plan (854) Details

LIC Tech Term (854) is a term life insurance from Life Insurance Corporation (LIC) of India, which provides high life cover in low premium. This plan is available for online purchase only and it also has option of accidental rider, which makes it a unique pure life insurance scheme from LIC. Those who are looking for a term insurance policy can use above calculator to calculate premium and associated benefits as per their requirement. Various terms and benefit related to this policy have been given below for better understanding of this plan and calculator.

Age Group18-65 years
Maximum Age Maturity80 years
Minimum Sum Assured50,00,000
Maximum Sum AssuredNo Limits
Policy Term10-40 years
Premium Payment TermExplained later
Premium Payment ModeYearly or Half yearly or Single
Minimum PremiumRs. 3000 for Regular and limited premium and Rs. 30,000 for Single Premium

Premium paying term

There is a great flexibility in payment of premium, one can choose any policy term between 10-40 years and pay premium in any of four options.

  1. Regular Premium - In this option premium payment term is same as policy term.

    2. Limited Premium Payment - It has two options.

  2. Policy Term minus 5 - In this option, premium needs to paid for 5 years less than policy term, for example, if someone wants to have life cover for 25 years, then premium is required to be paid for 20 years only (Policy Term: 25 and Premium Payment Term: 20).
  3. Policy Term minus 10 - In this option, premium needs to paid for 10 years less than policy term, for example, if someone wants to have life cover for 25 years, then premium is required to be paid for 15 years only (Policy Term: 25 and Premium Payment Term: 15).
  4. Single premium - In this option, policyholder just pays one single amount for his/her policy.

Types of Sum Assured

This plan provides two types of sum assured (risk cover) to be selected from.

  1. Level Sum Assured - In this option, risk cover amount remains constant for entire policy term.
  2. Increasing Sum Assured – In this option, the risk cover amount increases by 10% from 5th policy year till it becomes twice of original sum assured.

Death and Maturity Benefits

This plan provides two types of sum assured (risk cover) to be selected from.

  1. Death Benefit - In case of death during policy term any time after issuance of policy, nominee gets basic sum assured amount in case level sum assured option and increase sum assured in case of increasing sum assured option.
  2. Maturity Benefit – This plan does not any maturity amount if policyholder survives policy term.

Official Website Link to buy this plan: https://onlinesales.licindia.in/eSales/liconline

For More details and queries, please write in comment box.

Comments & Reviews (17)

Wrote :

26-06-2022 23:35:23

If policy holder is normal death. Policy is applicable?

Wrote :

06-07-2022 16:16:20

Yes, it claim will be applicable.

Wrote :

27-11-2022 17:25:02

LIC Related any questions or Queries call me.

Wrote :

30-11-2022 15:33:06

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Wrote :

25-06-2022 00:04:12

I have left smoking 6 months ago. Am I elligible for non-smoker category? Please clarify the previous period of smoking for this category.

Wrote :

06-07-2022 16:14:11

It depends upon your self declaration and medical test.

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Wrote :

07-02-2022 19:17:38

what will be the death benefits after receiving 20 years survival benefit (8%of sum assured) in jeevan umang plan for Rs. 15 lakhs sum assured?

Wrote :

15-02-2022 23:58:29

It will be 15 Lakh + Simple reversionary bonus for 20 years + Final Additional Bonus (FAB).

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Wrote :

03-01-2022 19:59:03

What is accidental rider in above calculation??

Wrote :

04-01-2022 20:29:04

Accidental rider is an optional benefit and can opt this plan on payment of additional premium. Rider will provide additional death claim amount equal to opted sum assured of the rider in case of accidental death.

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Wrote :

10-11-2021 18:53:02

In tech term policy during medical tests, if a person found having high BP and diabetes but under medication, can he take policy?

Wrote :

19-11-2021 15:19:51

Your premium might increase.

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Wrote :

17-10-2021 21:27:28

I want to understand if I take single premium type policy and pay one single amount for the sum assured 50lakhs, on which ways of death would my family be paid the 50lakhs. For example, natural death, critical illness, accidental etc. Please confirm the same.

Wrote :

18-10-2021 15:00:21

It will in case of natural or accidental death. Base plan does not has cover for critical illness.

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Wrote :

17-10-2021 17:46:52

If I start LIC tech plan and after a time period, I find that I do not need this plan anymore, Then can I stop the plan?

Wrote :

18-10-2021 15:03:43

Yes, you can stop the plan any time by not paying further premiums. Plan will not provide any benefit like maturity, surrender value or death claim in that case.

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Wrote :

15-09-2021 14:04:11

After how many days of commencing LIC tech term policy, commencement of risk will start and what will be the date of commencement Accident benfit rider?

Wrote :

21-09-2021 23:11:50

Risk starts the moment policy is issued.

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Wrote :

03-09-2021 17:27:40

is LIC Tech term still active?

Wrote :

04-09-2021 16:25:58

Yes, it available. You can visit LIC website for more details.
https://digisales.licindia.in/eSales/liconline

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Wrote :

07-06-2021 17:54:29

Can you help explain regarding Rebate : What will bet the rebate if sum assured is 1crore and 1 lakh. Will I get 10% discount / rebate as indicated in table of brochure.

Wrote :

14-06-2021 23:11:03

High sum assure rebate is deducted before arriving the final premium for a particular policyholder. Please use calculator for 1 Crore and 10 Crore, and your will find the premium will not 10 times in case of 10 crore.

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Wrote :

06-02-2021 19:50:39

Hi, Good Morning, I Want to take LIC Tech Term (854) Plan, my AGE is 65 can I take it ? or Can I take the same plan for my Brother who is aged 60 years?

Wrote :

08-02-2021 07:56:52

A person who is employed and less than 65 years of age can apply for this policy.

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Wrote :

01-02-2021 11:18:34

Pl. clarify - No maturity value if, policyholder survives the policy term (10 years). - If a person does not die, then will he get INR50L after 10 years or not

Wrote :

02-02-2021 00:39:03

It is a term plan that provides high life cover in low premium during premium paying term. If a person survives the term, then nothing is paid. Do you think it makes sense that a person deposits 3000 per year for 10 years and after 10 years he will receive 50 lakh as maturity?

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Wrote :

25-12-2020 07:10:54

What are the requirements for Tech Term for 19-22 Years of my Son and Daughter, Wife 47 Years, My Self 49 Years?

Wrote :

25-12-2020 09:26:57

Only earning individuals can take this policy. It will require income proof and medical examination along with photo id and address proof.

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Wrote :

22-12-2020 19:44:47

Premium for tech term calculator not working, lic portal is worst, lic mitra portal never opening and not helping. Your portal also never replied to my complaints of earlier submitted.

Wrote :

22-12-2020 21:36:25

For what age, sum assured, premium type, risk cover type, you are calculating premium? Above calculator does not have for increasing sum assured, you can share your details, we will share the premium for you.

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Wrote :

26-11-2020 06:57:17

If I go with 50L life coverage should I under go medical test.

Wrote :

26-11-2020 20:27:54

Yes, medical test will be required.

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Wrote :

11-09-2020 02:37:28

All website and portal say that LIC Tech Term Plans minimum sum amount is 50L. But you say minimum sum amount 25L. Please clear confusion. Thanks.

Wrote :

11-09-2020 09:38:11

Yes, it is 50,00,000. It will be corrected shortly. Thanks for your feed back, it helps us improve.

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Wrote :

03-09-2020 14:59:21

I need take Jeevan Amar single premiam, how much I need to pay for Rs 2500000 Sum Assured and for 47 years of age. Thanks

Wrote :

04-09-2020 10:21:52

What is policy term (duration of risk cover) that your are looking for. For 15 years policy term, premium will be Rs. 86425 (yearly)+ 18% GST. You can calculate as per your details using following calculator.
Jeevan Amar Plan (855) Premium Calculator

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