LIC Term Insurance 1 Crore is a term insurance policy offered by LIC (Life Insurance Corporation of India) that provides financial protection to the policyholder’s family in the event of his/her untimely death. The policy pays out a lump sum amount to the nominee in such a situation. LIC Term Insurance 1 Crore is a popular choice among people looking for an affordable and comprehensive life insurance cover. The policy has several features and benefits that make it an attractive proposition for customers. In this blog post, we will take a look at some of the key features and benefits of LIC Term Insurance 1 Crore.
What is LIC Term Insurance 1 Crore?
LIC Term Insurance 1 Crore is an insurance policy that provides financial protection in the event of the policyholder’s death. The death benefit is paid to the beneficiaries designated by the policyholder. The beneficiaries can use the death benefit to cover funeral expenses, pay off debts, or to support themselves financially.
The main features of LIC Term Insurance 1 Crore are:
– Death benefit of 1 crore rupees
– Premiums starting at just Rs. 18 per day
– Coverage for a term of 10, 15, 20, or 30 years
– Option to convert to a permanent life insurance policy
– Tax benefits under Section 80C and 10(10D) of the Income Tax Act
Key Features and Benefits of LIC Term Insurance 1 Crore
When you purchase LIC Term Insurance 1 Crore, you are provided with extensive coverage for a set period of time. This type of policy is ideal for individuals who want to ensure that their loved ones are financially protected in the event of their death. The key features and benefits of this LIC policy by LIC of India include:
Coverage of up to 1 Crore: The coverage amount under this policy is one of the highest available in the market, making it an ideal choice for individuals who want to ensure financial protection for their loved ones.
Affordable premiums: The premiums for this policy are highly affordable, making it a great option for those on a budget.
Fixed term: This policy has a fixed term, which means that the coverage amount and premium payments will remain the same throughout the duration of the policy.
Death benefit: In the event of your death, your beneficiaries will receive the full death benefit amount, providing them with financial security during their time of need.
LIC Term Insurance Plans with High Sum Assured of Rs. 1 Crore
A life insurance policy is a contract between an insurance company and an individual in which the insurer agrees to pay a sum of money to the individual’s beneficiaries in the event of the individual’s death. The individual pays premiums to the insurance company in exchange for this protection.
A term insurance policy is a type of life insurance policy that provides coverage for a specific period of time, such as 10, 20, or 30 years. If the insured dies during the term of the policy, the beneficiaries will receive a death benefit. If the insured does not die during the term, the policy will expire and no benefits will be paid.
Term insurance plans with high sum assured of Rs. 1 crore are available from various insurers in India. Some of these plans are listed below:
LIC Amulya Jeevan 1
- The LIC Amulya Jeevan 1 is a term insurance policy offered by LIC (Life Insurance Corporation of India) that provides financial security to the policyholder’s family in the event of their untimely death. The key features and benefits of this policy are as follows:
- The policy provides for a death benefit of Rs.1 crore, which is paid to the beneficiary in the event of the policyholder’s death.
- The policy has a term of 30 years, and thus provides protection for a long period of time.
- The premium for this policy is quite affordable, making it an attractive option for those looking for term insurance cover.
- This policy also offers riders such as accident benefit rider and critical illness rider, which provide additional protection against unforeseen events.
Features & Benefits of LIC Amulya Jeevan 1
1. LIC Amulya Jeevan 1 is a term life insurance plan that offers financial protection to the policyholder’s family in the event of their untimely death.
2. The policy provides for a lump sum payout to the nominee in the event of the policyholder’s death during the policy term.
3. The policy can be purchased for a term of 10, 15, 20 or 30 years.
4. The minimum sum assured under this plan is Rs 1 crore.
5. Some of the key features and benefits of LIC Amulya Jeevan 1 include:
– Attractive premium rates: The premium rates offered under this plan are highly competitive when compared to other similar plans available in the market.
– Death benefit: In the event of the policyholder’s death during the policy term, their nominee will receive a lump sum payout equal to the sum assured under the plan. This benefit can help to financially protect the policyholder’s family in their time of need.
– Flexible terms: The policy can be purchased for a term of 10, 15, 20 or 30 years, giving the policyholder flexibility to choose a term that best suits their needs and budget.
LIC Jeevan Amar Plan
The LIC Jeevan Amar plan is a term insurance plan that offers financial protection to policyholders in the event of their untimely death. The plan also offers a death benefit to the nominees of the policyholders in the form of a lump sum payment. The key features and benefits of the LIC Jeevan Amar plan are as follows:
-The plan offers financial protection to policyholders in case of their untimely death.
-The plan also provides for a death benefit to nominees of the policyholders in the form of a lump sum payment.
-The key features of the LIC Jeevan Amar plan include:
–A minimum sum assured of Rs.1 crore
–Policy terms ranging from 10-40 years
–Loyalty additions for every year of continuous renewal
–Option to avail riders for additional coverage
-The benefits of the LIC Jeevan Amar plan include:
–Death benefit in the form of a lump sum payment to nominees
–Tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961
Features & Benefits of LIC Jeevan Amar plan
LIC Jeevan Amar provides financial security to the policyholder’s family in case of his/her untimely demise. It is a non-participating, term life insurance plan that offers death benefit and maturity benefit.
1. Death Benefit: In case of policyholder’s death during the policy term, the nominee receives Sum Assured on Death as lump sum along with vested simple reversionary bonuses and terminal bonus, if any.
2. Maturity Benefit: On survival of the policyholder till the end of policy term, he/she receives Sum Assured on Maturity along with vested simple reversionary bonuses and terminal bonus, if any.
3. Policy Term: The policy term under LIC Jeevan Amar plan can be chosen from 10 years to 35 years.
4. Premium Payment Frequency: LIC Jeevan Amar offers premium payment frequency options of yearly, half-yearly, quarterly or monthly (through ECS only) to suit your convenience.
Eligibility Conditions for LIC Jeevan Amar Plan:
1. Minimum Age at Entry: 18 years (last birthday)
2. Maximum Age at Entry: 55 years (last birthday)
3. Policy Term: 10 – 35 years
4. Minimum Sum Assured: Rs. 5 lakh
5. Maximum Sum Assured (in multiples of Rs. 1 lakh): No limit
LIC Tech Term Plan
- LIC Tech Term Plan is a term insurance policy offered by LIC that provides financial protection to the policyholder’s family in case of his/her untimely death.
2. The policy provides for a lump sum payment to the nominee in case of the policyholder’s death during the policy term.
3. The policy term can be chosen from 5, 10 or 20 years.
4. The minimum sum assured under this policy is Rs. 1 crore.
5. This is an online policy and can be bought directly from LIC’s website without any intermediaries.
6. The premium for this policy is very affordable and starts from just Rs. 16 per day for a coverage of Rs. 1 crore.
Features & Benefits of LIC Tech Term Plan
LIC Tech Term Plan is a term insurance plan that offers financial protection to the policyholder’s family in case of his/her untimely death. The plan offers several features and benefits that make it an attractive proposition for people looking for comprehensive financial protection.
Some of the key features and benefits of LIC Tech Term Plan are:
1. Financial protection for policyholder’s family: In case of the policyholder’s untimely death, the plan provides for a death benefit that can take care of the policyholder’s family’s financial needs.
2. Flexible terms: The policy term can be customized as per the policyholder’s needs and requirements.
3. Multiple payout options: The plan offers different options for payouts, which gives the policyholder flexibility in choosing how his/her beneficiaries will receive the death benefit.
4. Affordable premiums: The premiums for LIC Tech Term Plan are highly affordable, making it easy for people to obtain comprehensive financial protection.
How to Apply for LIC Term Insurance 1 Crore
LIC Term Insurance 1 Crore is a term insurance policy that provides financial protection to the policyholder’s family in the event of their death. The policy pays out a lump sum to the beneficiaries, which can be used to cover funeral and other expenses.
To apply for LIC Term Insurance 1 Crore, you will need to submit an online application form. Once your application has been processed, you will be asked to provide medical evidence and undergo a medical examination. Once your policy has been approved, you will need to make premium payments in order to keep it active.
Conclusion
LIC’s Term Insurance plan is a great option for those looking for an affordable life insurance policy with plenty of coverage. The key features and benefits of the policy make it an attractive choice for anyone in need of life insurance, and the fact that it is available online makes it even more convenient. We hope this article has helped you learn more about LIC’s Term Insurance plan and that you will consider it as an option for your own life insurance needs.
