LIC Online Term Plan Launched – 37% cheaper than Offline version

POSTED BY Jagoinvestor ON May 17, 2014 COMMENTS (348)

Good News! . Finally LIC Online Term plan is launched. The name of its online term policy is LIC e-Term and can be bought via LIC Direct initiative. Investors community was waiting for this online term insurance from LIC from very long time and finally many will buy the term plan to cover their family. In this article I want to give you a crisp review of LIC Online Term plan.

LIC online term plan launched

Let me share some of the features of LIC Online

1. Completely online buying – without agent help

Like any other online term plan, LIC e-Term is completely online term plan. You just need to calculate your premium, give your details online and then buy the policy by paying the premium. Incase you need to appear for medical examination, that will be done offline.

2. Different premium for smokers and non-smokers

There are two categories of premiums which will apply. The first one is called Aggregate category which will apply for all those who will choose the sum assured between 25 lacs and 49 lacs (it does not matter if you are smoker or non-smoker) . This category has to be chosen if you are smoker anyways (incase you take more than 50 lacs of sum assured)

The next category is non-smoker is called Non-smoker if are choosing sum assured more than 50 lacs and if you are a non-smoker.

choose category in lic eterm online term plan

3. Eligibility Conditions and Other Restriction

  • Minimum Sum Assured : Rs. 25 lacs for Aggregate category and Rs 50 lacs for Non-smoker category
  • Maximum Sum Assured : No limit
  • Minimum age at entry : 18 years (completed)
  • Maximum age at entry : 60 years (nearest birthday)
  • Maximum cover ceasing age : 75 years (nearest birthday)
  • Minimum policy term : 10 years
  • Maximum policy term : 35 years

4. Cooling-off period

If the Policyholder is not satisfied with the “Terms and Conditions” of the policy, the policy may be returned to us within 30 days from the date of receipt of the policy bond stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of premium deposited after deducting the proportionate risk premium for the period on cover, stamp duty charges, expenses for medical examination and special reports, if any.

Cheaper Premiums of LIC Online Term Plan

The great news is that LIC Online term plan premium is much cheaper than the offline version of its term plan. If you see the premium rate charts, you will see the premiums for LIC e-term is around 20-30% cheaper then the offline version.

For example – The Yearly premium for LIC online term plan for 50 lacs sum assured was Rs 7,300 (for 30 yrs old male and for 30 yrs term), compared to Rs 11,600 for the offline version (LIC Jeevan Amulya II) . For the same profile HDFC Click2Protect charges Rs 6,000 , so LIC online term plan is around 20% costlier to HDFC Click2Protect plan.

Here is the graphical comparison for the premium difference between 3 policies

LIC online term plan premium difference

Details you have to provide for taking LIC online term insurance ?

When you buy the online term policy from LIC, here will be few things required. Those are as follows

  • Details about your occupation/ Educational qualification
  • PAN number
  • Your Income Details ( Form 16 / ITR for last three Years or P&L Account)
  • Details of all your previous life insurance policies (like policy number, sum assured, plan etc) taken in last 3 years.
  • Details of family members like age, state of health, age and cause of death (if applicable)
  • Details of your medical history including illnesses, injuries and any medication.
  • Bank details like Account number, MICR code etc.

Can NRI take the online term plan from LIC ?

Yes, NRI’s can also buy the term plan from LIC, but it clearly mentions that they will have to be present in India for medical examinations.

Step by Step process of buying LIC Term plan online – VIDEO

You can just go to this LIC eTerm Page and start the process of buying the plan. Below you can watch a 10 min video on how to buy LIC online term insurance policy in step by step manner. I have explained more of the things in the video itself.

Comments on LIC Platorm and overall experience

I have gone through the overall form filling experience and I find it well researched and thorough. LIC has taken a lot of time to come up with platform. Given the popularity of LIC and the trust of its customers, LIC will surely be going miles and will gain millions of new customers. Investors now are well aware of the importance of term plan and its popularity will only grow overtime.

Are you buying the LIC Term plan ? How did you find the review ?

348 replies on this article “LIC Online Term Plan Launched – 37% cheaper than Offline version”

  1. Raju Panigrahi says:

    Dear Mr. Manish,
    Kindly assist by clarifying the below point asked during filling of form.

    a) Is your life now being proposed for another assurance or an application for revival of a policy on your life or any other proposal under consideration in any office of the Corporation or to any other insurer?

    b) Whether proposed simultaneously on the life of spouse and children?

    d) Has a proposal or an application for revival of a policy) on your life made to any office of the Corporation or to any other insurer ever been ?
    d1 ) Withdrawn, Deferred, Dropped or Declined?
    d2) Accepted with extra Premium or Lien?
    d3) Accepted on terms other than those proposed?



    1. Jagoinvestor says:

      Is the LIC customer care not helping you on this?

  2. raja says:

    good morning sir
    in few days back I applied online term plan in Aefon life for 75lakhs 717per monthly based.

    is it good or not
    is best comany or not
    what I do

    1. Dont worry .. its fine

  3. Sharanya says:

    Hi Manish,

    Need your assistance. I have 2 LIC policies with me which will expire after-10 years. Reading your articles on Term insurance, I would prefer ti discontinue those and take a term policy instead. I have already finished paying premiums in those 2 policies for more than 5 years. Will it automatically get paid up or is there a formality? My agent is not guiding me properly and I havent paid the premium for this year and he says it will automatically become paid up. Please guide.

    1. Once you stop your payment, it automatically gets paid up . NO need to do anything. Apart from that you should buy a good term plan. Our team will help you with that if you want. You agent is not helping because his commission is dependent on policy 🙂 . Note that we will help you buy the online policy which does not have any commission attached to it

      Just fill up a form here

      We think our pro membership will help you as it fits in your requirement. We have various benefits under it like life insurance, health insurance, mutual funds and your financial analysis too..

      Just check out our Pro membership once and schedule a FREE call with us to know more –

  4. Suman says:

    I was trying to open online a eterm policy. While filling the details of existing policy details, the system is asking to select HOW ACCEPTED? In the Drop Down menu, there are two options: 1. OR 2. Extra.

    Please explain the meaning of these two terms so as to enable me select the correct option.

    1. Jagoinvestor Admin says:

      Hi Suman

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


      1. Suman says:

        Thanks a lot, I have got in touch with LIC representative and got the info. One more query which I do have, is when my form is generated, Premium amount is showing as 0. Although the amount should be 8600. In the video, I can see proper premium amount of 8202 is also shown in the pdf generated. Can u plz throw some light on this?

        1. It might happen that the due date for the premium has not come and its showing you for the current year itself for which you have already made the payment.

    2. Hi Suman

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  5. hari says:

    I wanted to know is there any difference in claim settlement between govt insurance company LIC and private such as ICICI. I wanted to take a term insurance for 1 cr, age 27 non smoker. ICICI is giving at around 9000 while LIC is quoting 16000. Also as I am overweight I doubt if LIC will increase my premium later. Should I go for ICICI then, I mean taking into consideration 35yrs term period will ICICI be as bankable as LIC

  6. Sanjay says:

    I am LIC agent. Is it good for me to apply for online term plan?
    Explain how?

  7. Dheeraj says:

    Hi Manish,
    I’m already having an existing 1 Cr term plan from LIC through an agent. Will it be good to go for LIC E-term plan and cancelling the existing one as there is almost Rs.8,000 difference in yearly premium.

  8. SUDHEESH says:

    I’m an NRI.. Could I purchase online Term insurance?

    1. YOu are eligible to buy it. We cant answer “if” you should buy or not. Its your wish !

  9. Om says:

    Hi Manish, I want to buy LIC e term plan but the link in web page for e term insurance is not working since past many days. I tried it many times in last 1 month. I suspect the mighty agent lobby is not happy with e term and they might force LIC to stop this plan. Your views ?

    1. No , it should not be like that. It must have got changed now .

    2. Amol says:

      Om, if you are accessing the website from your office network then it may not open. Try opening it from your home internet. I too faced similar problem, website opens with some port numbers and they are restricted at some office networks.

  10. Farshid says:

    Looking for a cover of 1 cr. I have looked at many online term plans and cant seem to find any that provide death benefit due to an act of terrorism. I am in the merchant navy and Piracy / Acts of Terrorism are potential risks to life. Are there any plans that offer cover due to death caused by piracy / armed robbery / terrorism? Thank you.

    1. Hi Farshid

      I can see that you are thinking of buying a term plan. ALl you need to do is leave your details at

      Our team will get in touch with you


      1. Thank you Manish. Managed to get my term cover through Jago Investor / Coverfox

        1. Glad to hear that Farshid

  11. amol says:

    I am looking for term insurance of rs 30lac from lic and as i am from semi urban-rural place whether to go for LIC term insurance online or amulya jeevan offline so many of my friends told me that if we go for online the lic people will not co-operate in medical check up / service and if i have to do online what to do or better to go offline which one?

    1. There is nothing like that !

  12. Atul says:

    I am looking for term insurance of rs 30lac from lic and 20 lc from hdfc if suppose any thing went wrong at the end can my family legal heirs get sum assured from both company or only from any one out of two
    and again as i am from semi urban-rural place whether to go for LIC term insurance online or amulya jeevan offline so many of my friends told me that if we go for online the lic people will not co-operate in medical check up / service and if i have to do online what to do or better to go offline which one?
    what about hdfc click 2 protect I am looking for myself as well as my wife combine or separate 20 lacs

    1. HDFC has a good policy for term plan and we have a special tie up for our readers. You can try that also

  13. Hemanth says:

    Please provide the below details for purchasing e term policy online.

    1) if i took the policy for 30 lacs should i undergo for medical check up or not.

    2) after doing the payment what is the next step should i visit LIC office.

    3) Should i submit the proposal form to LIC office.

    4) What about my Hard copy of Insurance Certificate.

    1. 1. Depends on company if they are taking it or not

      2. POlicy will come to you , dont worry

  14. nirav says:

    i have limited money. i have health insurance. i want to take Term plan of 30 lakh , 30yrs term, age 33.
    whether i should go for LIC or HDFC ?
    pls advise.

    1. You can go for any. which ever has lower premiumn

  15. Rahul says:

    I have joined service 6 months back. I dont have Form16/ITR related documents as of now and am interested in taking LIC e-Term plan. What documents should I be needing to complete the process now that I dont have ITR/Form16 documents?

    1. Hi Rahul

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  16. RAVINDRA says:

    I have two LIC (OFFLINE) term insurance, following are details
    1. JEEVAN ANAND(WITH PROFITS & ACCIDENT BENEFITS) :SUM ASSURED: 400000/- Premium (Y-Y): 21134/-, coverage till : 2032
    I am 34 now ,salaried person I want to surrender one of above policy.Please suggest which one shall I continue?

    1. Hi RAVINDRA

      The best answer you can get only from the agent you invested through or just contact the company. The thing is your case is a bit personalised and other than company, no one can give accurate information


  17. Nagaraju says:

    I work in abroad and visit India in every 6 months.

    I want to take a term plan insurance for an amount of 35-40 Lakhs.
    Currently i am in india and will be here for 15 days.
    Could you please suggest which policy will be better for me.

    1. Hi Nagaraju

      HDFC is a good term plan and you can go for it. If you need our help in that, you can fill up this form

  18. Ramu says:

    I am working in UAE (where there is no tax) since 6 years, before that i have not worked in India.

    I do have a PAN card, but not filed any returns, assuming that i was not working in india so no need to file the returns.

    I am planing to take LIC eTerm Policy for 2CR, as i gone through the details mentioned in this article i found that Income Details ( Form 16 / ITR for last three Years or P&L Account) need to submit.

    I don’t have any Form 16 or P&L, am I eligible to apply for this plan. Please suggest how to proceed for furthur.

    Thanks in Advance.

    1. Hi Ramu

      A CA is more qualified to answer you query, hence I suggest better get in touch one.

      We are not right people to talk on this


  19. niyazashraf says:

    Hi Manish,
    2 doubts..

    1. How do we decide the policy term? 30 / 40 years? Im 30 yrs old now
    2. Is the LIC term policy better than HDFC C2P in any way?

    Thanks in advance

    1. 1. 60 yrs – your current age

      2. No , you can go with HDFC if you want. We can help you with that, just fill up this –

  20. Atul says:

    I have two LIC & 1 Aegon Religate term insurance, following are details
    1. LIC Covered amount : 2500000/- Premium : 9,125.00, coverage till : 2046
    2. LIC Covered amount : 500000/- Premium : 1,584.00, coverage till : 2033
    3. Aegon Covered amount : 3000000/- Premium : 4412 coverage till : 2057

    Total coverage : 60L, Total premium : 15121

    I have following options, what would be your recommendation.
    1. Surrender #1 & #2 policy, continue with #3 policy. Buy eTerm of 50L, premium 13089 per annum. With this total coverage of 80L premium 17501(=13089+4412)

    2. Surrender #1, #2 #3 policy & take a eTerm of 60 L, premium amount : 15707, Life cove till : 2050 years

    3. Do not buy e-Term, continue with offline policies, as premium is almost same as existing polilies, but please note that if we buy new e-tem policy it would cover me till 2050.

    Appreciate your response.


    1. I would suggest going with 3rd option. There is no major reason why you need insurance till 2050 .

      1. Atul says:

        I think when we talk about insurance then duration of insurance is very important factor. one should take insurance as longer duration as possible, because as more older you become, it increases the chances of death. Insurance is more important then. Having said that I think duration is important.

        What are your thoughts on Option #1?


        1. Hi Atul

          I suggest you read this article which talks about the same point about tenure of term plan –

  21. Arjun says:

    Hi Manish,

    I am planning to take LIC e-Term policy.

    I have “BAJAJ ALLIANZ FAMILY ASSURE II” ULIP policy for 2,50,000 with annual premium of 12500.
    I took this policy on 04/02/2010. I paid only 3 premiums(2010, 2011, 2012) and stopped paying.
    I stopped paying from 04/02/2013 premium.
    Now the policy is lapsed and I don’t want to continue.

    I have 2 questions

    1) Do I need to mention Bajaj allianz lapsed policy while opening LIC e-Tem policy? What is the intention of LIC in asking previous insurance details? Is there any chance that they will reject my new policy?

    2) While opening new LIC e-term policy, while mentioning old policies, they are asking “Select the terms of acceptance — OR/Extra”. Can you please let me know what I should fill for BAJAJ ALLIANZ policy?


    1. 1. If its asked something like mention all policies taken in past 5 yrs , then you shoudl mention it . But if it asks only ACTIVE policies, then you can skip it ! .

      2. Talk to their customer care incase you are not sure on this

  22. Manoj says:

    Hi Manish,
    I have a money back policy for the last 10 years of 3L sum assured. with 15K premium annual and i get 45K every 5th year (not too sure) . i want to also buy LIC online term plan. should i discontinue this? or should i see it through for the next 10 years will i lose my money invested so far? what would be your advice?

    1. If you are getting it in next 1-2 yrs again, then wait .. else just get rid of it

  23. RAJESHSOBTI says:

    can u please throw some light on metlife term plan introduced by pnbmetlife…is it advisable to go in for the policy with my age as 52 and my spouse 51 – both workig.

    Also i understand that there are term plan which provide for survival benefit…it is advisable to look for such options. \kindly guide….

    rajesh sobti delhi

    1. If your main requirement is only protection, then no return of premium plan is suggested

  24. Rajendra says:

    I am 34 years old and i would like to take term policy for 31 years ( till my age 65).
    How much will be the premium.

    I have some more questions here:
    Is there any difference between online and offline policies? in terms of paying death benefits to nominees?
    What is the procedure nominee need to follow to claim death benefit?
    If both policy holder and nominee both dies then how their children claim death benefit?
    If both policy holder and nominee both dies is it possible to claim by rest of their dependent memebers (like parents and minor children) ?


    1. NO much difference between offline and online. I think you should read a lot on this matter as you have lots of questions

  25. Hemant says:

    Hi Manish,
    I have applied for LIC e-term policy for 75.0 Lacs. I am a non smoker, but LIC is asking me to go for aggregate category and asking for additional premium of Rs. 6.0 K. Just wanted to know, why is this. Because with the non smoker category i calculated and my premium was coming less.
    Pls guide.

    1. Ask them for the reason why your premium is increasing. They should give some reason !

  26. Joy Saha says:

    Sir, I joined in my Govt job on this month. So I have not three years Form16. May I buy LIC eterm policy for 5000000 ? My other question is wheather there is any option to change the nominee . Can I get any hard copy of policy document?
    Thank you.

    1. Yes, you can change the nominee later if you want and you will get hard copy of the policy also

  27. Rao says:


    your review says NRIs can too apply, whereas LIC Direct website says NRIs cannot apply.
    can you throw some light or advise policies NRI can buy term insurance online.
    Regards and thanks in advance.

    1. May be it has stopped now !

  28. Sanjeev says:

    Is there any special term and condition for person with diabetic? Will there be any premium change

    1. Definately

      If a person is diabetic, he is more risky compared to others, his premiums will surely change compared to others

  29. Suresh Das says:

    Dear Manish

    I am a 27 yr old centrel govt employee who started working in Feb 2015. I earn around 5 lacs and was not previously employed. Can I take LIC eterm to fulfil my insurance needs?


  30. Prashant says:

    Hi Manish,

    I bought 50 lakhs LIC e-Term policy and then wanted to go for 1 cr. So i bought 50 lakhs another LIC e-term policy in the same year.
    Is it OK to have 2 LIC e-Term policies? In case something went wrong, while claiming, will it create any issue?


    1. Hi Prashant

      You can do that. There wont be any issue. But why to have 2 policies ? Just take one single 1 crore one and surrender the old one !

  31. WilliamS says:

    Hey Manish,
    I am 23 and willing to buy a Term insurance. Have plans of moving abroad later.
    I havent filled any ITR so far since this is the first year at job. I can do my first in a month or so. in this case will my employer pay slips is sufficient one? I work for one of the biggest reputed Indian giant (so, no harms).
    How much cover I can apply for max? (20 or 30x of my ITR) or how is that?
    Do eterm covers accidental death and deaths due to terrorist or natural calamities in India/Abroad?
    Does the eterm have the same cover throughout the term? Can I extend once I get married or birth of little joy?
    Term cover can cover Abroad as well as India, right? Even when I am touring the world residing abroad?
    If I take loan for higher ed and my papa would be paying for that sometime so I hope the insurance wont go Invalid, right?

    1. You can take 10X of your yearly income , and it would be applicable abroad also

  32. Sachin says:

    Hi Manish,

    Does LIC E trem policy premium will be raised for a person having diabetes?

    1. Obviously, any company will raise it !

  33. KUMAR says:





    1. IF you are not earning , then you are not a capital loss to anyone . Hence insurance company might deny the policy to you

  34. raj says:

    I want to purchase an online term plan for 50 lakhs. My age is 40. my options are lic , sbilife, and hdfc life. Which is the best policy for 30 years plan. I am a slight diabetic , I want to know whether there is any premium change and if there then any much percent rise. my fasting is 115 and pp is 170, Thanks

    1. Hi Raj

      You can first check with HDFC life on this. It would be a good option

  35. sandeep panpalia says:

    I am facing issue while trying to access online term plan. The following error comes-
    A communication error occurred: “Operation timed out”
    The Web Server may be down, too busy, or experiencing other problems preventing it from responding to requests. You may wish to try again at a later time.
    I have been trying to purchase it from last 2 months but I am getting the same error. I want to know if I am the only one facing this issue and is there any way out. Please suggest

    1. Hi sandeep panpalia

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that


  36. Rajaravindra says:

    Hi manish,
    I have applied for lic eterm policy for 50 Lakhs. While applying the premium shows 15000 per year. After medical tests,they replied that my premium is increased and its 14000 more. I.e., per year 29000 premium for 50 lakhs. I’m in confusion state right now whether to go for it or opt other insurance companies. Can u pls advice

    1. It must have got increased due to some health issue, so its suggested that you go with it

  37. Raja Shah says:

    Hi Manish,
    Thanks so much for posting this video, its really quite helpful for those requiring to fill up the eTerm policy of LIC’s. I LOVEEEE your site and read each subscription email that comes my way!!

    I had some simple queries pertaining to the same and since yours was the only site I found online with a great video explanation of the eTerm, I was hoping you would be able to help me out:

    1. For the Annual Income, can we round up the figure (for instance, if our salary is 3,87,456 which is CTC and if our gross is 3,85,923 – can we simply put this as 385000 or will it be considered as wrong information in future?)
    2. For the query ‘Do you use or have you ever used Tobacco in any form?’ I hope they only mean actually smoking, and not accompanying friends who smoke to the chaiwalla – that would be passive smoking, I guess, but again I just want to be certain
    3. For the nominee, what’s the process of changing the nominee later on in life – currently I’m not married so My mom is the nominee, what if in future I need to change this, since it’s an online scheme how would I go about changing the nominee (do I need to phone someone, stand in a queue at the LIC office, or what?)
    4. When entering family details, any idea what constitutes ‘Bad Health’ for my parents – for instance, My dad has high BP, arthritis and diabetes (usual things that tend to come with older age), but not cancer, tuberculosis or anything serious like that. Would you still fill in Bad Health rather than Good Health?
    5. Finally for the previous LIC policy details, I had 3 queries
    a. In December I had filled up a form for Plan 821, but then after reading about LIC policies on your blog, decided against it and got the entire amount completely refunded, so will I have to mention this, and if so, on the eterm page , there are 2 sections – one which says ‘→ Withdrawn, Deferred, Dropped or Declined?’ and then lower in the page there is another that says ‘Have you during past one year returned any policy of Life Insurance Corporation of India as the same was not acceptable to you?’. Any idea, according to you, which one would be most appropriate for it?
    b. I have around 4 LIC policies that I plan on surrendering once I get the eterm policy done – right now I have still mentioned these policies on this page since it says to mention all including policies surrendered/lapsed during last 3 years. I just wanted to know whether surrendering these policies now would
    c. Can you shed some more light on what this means? ‘Is your life now being proposed for another assurance or an application for revival of a policy on your life or any other proposal under consideration in any office of Life Insurance Corporation of India or to any other insurer?’ I am unsure of this one point
    6. On the final section on Medical history
    a. Do we need to disclose common stuff like cold, fever, typhoid, malaria, dysentery or if we are taking regular vitamins…
    b. For the hobbies, do we need to mention working out in the gym, and things that might happen (for instance, I plan of bungee jumping/skydiving sometime next year while I’m on holiday with friends)

    Most of these queries seem quite simple, but I would really appreciate if you could help me out with them!

    1. Hi Raja Shah

      Can you ask some open ended questions ?

    2. sankalp says:

      hi did you get a answer on these, I am also confused to answer
      Is your life now being proposed for another assurance or an application ?

  38. mayank says:

    I have taken LIC e term policy. We have shifted to a new house and I dont have any address proof for the same. Initially I have given address of my new house in proposal form but due to no address proof. I have asked them to change my address in the proposal form to old address as I had address proof for the old one.

    They have accepted my proposal application with my old address. I am planning to change it to my current address later on after having address proof.
    Please suggest and is there be any problem…

    1. This will not cause any issue

  39. AMIT VERMA says:


    1. It would be last 3 yrs ITR income

  40. Mohit Mathur says:

    Hi Manish,

    Need your advice on term plan.

    I am planning to buy a term plan of 75 lac and wanted to do a mix of hdfc & lic.

    50 lac sum assured from Hdfc click 2 protect @ Rs 6000 approx.
    25 Lac sum assured from Lic online term plan @ Rs 6500 approx. (just bcoz of the govt /trust factor.

    Is it good to do a mix or should i buy a single plan of 75 lac from HDFC ?

    1. I suggest take a single term plan from HDFC. Let me know if you need help on that. We have contacts with HDFC support team

  41. JD says:

    Hi Manish,
    A very informative article. I have one question.
    Is the life cover given by a insurance company to an individual depends on his earning potential i.e. his income. I mean if he can pay the premium for a particular amount of cover, is there any reason why the company should deny covering him for that particular amount.

    1. Yes, it depends on income of a person

  42. Nanda says:

    Hi Sir,

    I have started filling the eterm policy, I have the below questions on the same

    They have asked to give the Latest Year and Prior Year income, I have changed company 6 months back.
    What should I fill in the Latest Year income?
    Should I sum the 6 months old CTC with 6 months new CTC for this
    Should I take latest CTC as Latest Year Income. Pls Suggest.

    1. You need to take the full year income, no matter where you earned it

  43. Anshuman says:

    Dear sir,
    . Today I saw a term policy by MAX LIFE INSURANCE with guranteed monthly income after completion of term if not happened anything to the insurer. For example for a SA of 50lks for myself at age 38 with a term of 10 yrsmy premium comes around rs.7000. If nothing happened to me I will get 20,000/month for 10yrs. Plz review the policy, n suggest us wheather I should go for it.
    thanking you
    Anshuman panda

    1. Hi Anshuman

      Just ignore it ! .. never mix insurance with investment

  44. Duresh says:

    Hi ,

    Today I bought LIC e-term plan online for 1Cr and premium is around 18450 Rs .
    I already have offline term plan from LIC of 30L from last 2 years whose renewal is on 19 April which I don’t want to continue .Today after paying the premium online it comes to blank page of LIC nothing else and just got message from my bank for deduction of amount .I didn’t receive any message from LIC or mail till now .Should I wait for there message or mail now or complaint about the same .Is that my money will automatically get back in to my account ?

    1. Is this resolved or not ?

    2. TheGoodSamaritan says:

      Hi Duresh,
      Not sure if your issue got resolved but same happened in my case as well. I dropped a mail to them and I had received the proposal form and other details for the medical request, with a request for acknowledgement. If your issue is unresolved, you can also drop a mail to them with the requisite details.


  45. M.V.Nair says:

    I plan to take LIC Eterm. Am having the following doubts for filling online application.
    1. I have purchased a land taking home loan 2 months back. I will inlude this in the loan details. Whether I should include this land under my assets details.
    2. In future if i purchase loan for construction will i need to inform LIC.
    3. I have opted my Aunt as my nominee. Am staying with my grandparents, away from my parents. My father died few years back and his death certificate is not available with us. Whether any need for death certificate of my father or presence of my mother will be needed by my nominee during claim.
    Application needs to fill the family details. Whether I need to add my aunt in the family details(aunt is staying seperately).

    Kindly reply to the questions or please suggest any options/links to get the answers of the questions. Am dialling to LIC on the contact numbers given on the page for last 2 weeks. But no one is attending.


    1. I think when you apply for this term plan, get on call with the customer care and they will help you in all these doubts

  46. pradeep says:

    Hi Manish

    I have been reading you articles for last 1.5 years and they are very useful. Thanks
    I have taken LIC e-term plan for 30 Lakhs and 25 years and my primium is 6472 yearly 🙂 which I paid for my LIC offline term plan of 15 Lakhs and 20 yrs for last one year.
    If I take LIC term Plan offline then my premium will increase approximatly by 2000 Rs for 30 Lakhs and 25 years.
    During my policy processing I have talked several times in LIC office and their customer care and they helped me a lot and gave answers to all my queries.

    In my case half of the processing time taken by TPA for medical test. LIC sent me mail for medical test and even after 15 days TPA didn’t call me for the test and after 15 days I called him and arranged my medical test.

    All my medical report are OK and they didn’t increase my premium.

    Thanks again for all the Posts and articles. 🙂

    Pradeep Joshi

    1. Thanks for your comment pradeep

  47. Manish Patel says:

    Hello Manish,

    I have LIC offline Term Insurance for 25 lakhs since 2 years. Now LIC offer online Term Insurance plan with lower premium. Now with same premium LIC gives 50 lakhs cover using LIC online Term Plan.
    Here I have some query.
    1. Can I stop existing LIC Term Insurance polices and buy new LIC online policy. is it ok for future settlement?
    Require your suggestion on this.

    1. Hi Manish Patel

      Yes you can do that .Go ahead

  48. hari08_indian says:

    I’m a salaried individual working in IT for the past three years. Now I’m planning to go for higher studies and I have taken a loan of around 20 lakhs. My question is if I take the LIC E-term plan in order to cover my educational cost, will the insurance company deny my claim in case of any unfortunate circumstances which may happen during my study term stating that I was not generating any income? Please provide some valuable feedbacks so that I can take a well informed decision.

    Thanks in Advance


    1. Hi harikrishnan

      No , once you take the term plan, after that it will not matter if you are earning or not !

  49. Javed Shah says:

    Hi Manish,

    While filling online E-Term Plan, do we have to declare all the previous insurance (eg. Life, Accident & Medical) or only Life insurance. This point is bit confusing, as HDFC Click2Protect plan says to declare Life as well as Critical illness/accident insurance.

    Please help.

    1. Only Life + critical illness plans as asked. Not health or auto insurance

  50. Rajesh Gannavarapu says:

    Hello Manish,

    I saw an ad that Kotak Preferred e-term plan for Rs.13.97/day (that is approximately Rs.5000 pa). I am not sure if it were true, and how can Kotak manages with such low premium. Can you please share your take on this plan. Thanks in advance.


    1. Why not . Have they shared about the premium also ? It might be for 50 lacs only and that too for a 25 yr old person . Its possible in other companies also ! . If you need a HDFC term plan, we can help you in that !


  51. Mohit Mathur says:

    Hi Manish,

    I am 30 yrs old and looking for a term plan , i am planning for hdfc click2protect plus plan for 30 yrs premium is around 5600 annually for 50 lac sum assured. Now Today i have come to know to about LIC online term plan. I am confused now pls help..

    1. You can go with HDFC Click2Protect only . Go to this link and buy it

  52. Bhavaani Mamidi says:

    I took LIC jeevan anand and 2 child career policies 2 years ago. I made 2 years payment. Now after reading couple of financial books I realized that those are not so great investments as we don’t even get bank FD rates. As I already have Term insurance in US for half a million I don’t think I even need Jeevan Anand. When it comes to child career plan, by the time we get the maturity amount my kids will be settled in their professions. I did not think all these things while taking the policies.
    Now that I realised they are really dumb investments of mine I am planning to stop after 3 rd year and make them paid up policies. In that case how much do I get a the date of maturity? Will I get prorated bonus added to the amount I paid for those 3 years payment? I know if I surrender now I will lose too much money so decided to make the policies paid up after 3rd year payment. Please advice.

    1. Hi Bhavaani Mamidi

      This article will help in your queries

  53. Vinayak says:

    LIC Online policy increased its premium rate by 50% ??? within 1 year of time?

    1. Is it ? Do you have the old premium details ?

  54. Hari says:

    I have a couple of doubts regarding this plan.

    1) Currently I’m working and suppose after taking the policy I’m going for higher studies. If something unfortunate happens to me will my family gets the specified amount or will they reject the claim citing the reason that I was not working at that time.

    2) Currently I’m a non smoker but after taking the policy if I became a smoker, then what will be their position regarding this?

    Please reply. Thanks in advance 🙂

    1. Hari

      1. No, it will not happen , your working status later does not matter

      2. Yes, you can become a smoker later, it does not any impact on the policy. What matters is your information at the time of taking the policy. If you were non-smoker, you have to just mention that.


      1. Hari says:

        Thank you very much Manish.

  55. Gaurav Malani says:

    Hi Manish

    Im Gaurav. Working as Branch Manager in Mahindra Finance. I would like to know the diffrenece between LIC amulya Jeevan and E term, is both are term plan ?

    My Bdate is 27/10/1982

    Can u please suggest which term plan is beneficial for me..

    1. Gaurav

      LIC Amulya Jeevan is a OFFLINE policy , and Term is online ! ..

  56. Nitin says:

    Hi Manish,

    I appreciate your effort in responding each and every comments. Also thanks for this wonderful article. My situation is like this:

    I applied for LIC e-Term plan for non smoker category. My premium was 9663. After going through medical tests, in the final decision, they increased the premium amount by more than 50% (now 13933).

    On inquiring, they informed that increased the premium on account of the high GGTP. I inquired at the test center and found out my level of GGTP was 72 whereas normal level is <65. I am pretty much sure that there was some problem with the test at the test center as the level should not that high as I don't consume any kind of alcohol,smoking. I am planning the get that test done again on my own from some of the renowned diagnostic centers like "SRL Lab" or "Dr Lal PathLabs" etc.

    But the thing is if I found from outcome of test that my GGTP level is normal, how can I proceed with that? Or suggest some other way.

    Thanks for your time.

    1. Hmm.. not very sure of that, the same company will postpone your policy if you dont take it now. I think you can try it with some other company , I know a HDFC guy here in Pune who handles our clients policies and I am sure he would be able to respond to your queries in right manner and help you on his


      1. Nitin says:

        Just to make sure, I got the GGT (Liver function test) done by myself from SRL Lab and found the level to be 52. Normal range for my age male should be between 0-41. I don’t know why my level is up as I am completely non smoker but yes, the level is high. I also found out on net that it can be up for several other reasons for example fatty liver etc i.e. not only due to smoking.

        Therefore I gave up the idea of quitting LIC (although premium is still high in comparison to other private players but I can live with it only because its LIC) and paid the rest of the premium. Now I am relaxed because if I was ready to pay 10000 premium in an year, I can easily afford to pay 4 more thousand and live with a piece of mind.

        Anyway, thanks for your valuable suggestions.

        1. Welcome .. Glad to know that Nitin ..

  57. Arjit Rastogi says:

    Dear Manish,

    I purchased the LIC eTerm policy yesterday. I made the payment using Yes bank. The payment was successful but due to some problem I was not redirected back to the Payment gateway (BillDesk) or LIC page. In the meanwhile I got a SMS from LIC – “We have received the payment”.
    I did not get any mail from LIC regarding the status of my proposal/ next steps 🙁

    Now, I am trying to reach them on mail & the phone numbers provided on eTerm webpage. They never respond 🙂 What else can one expect from a govt organization after all.

    What should I do now? I am not sure whether my application was completed. Checking the video provided by Jagoinvestor. What happens after the payment is successful? What did I miss 🙂 Do they also send mail after the purchase is successful. I got the SMS from them. Is that sufficient? And what are the next steps now?

    Thanking in advance..

    1. Arjit Rastogi says:

      Dear Manish,

      I got the acknowledgement mail from LIC (at the same time while I was typing my query on Jagoinvestor). For everybody’s information I have got two mails from LIC-
      1) Proposal form PDF + Payment receipt
      2) Thank you letter from LIC along with the following text-

      Dear Sir/Madam,

      We thank you for choosing LIC e-Term plan .

      Based on the risk coverage you have opted for, you need to undergo the following medical tests for our considering the proposal:-

      1) FMR
      2) 12 lead ECG
      3) Haemogram
      4) SBT-13
      5) RUA
      6) Hb A1C
      7) Urine Cotinine test
      Details will be informed to you by the Third Party Administrator (TPA) whose representative will contact you shortly. You are requested to handover the following documents in a sealed cover to the TPA:-

      1) Self attested & witnessed proposal form(photo affixed)
      [Witness may be by any person other than immediate family members]

      2) Self attested copy of PAN CARD.

      3) Self attested copy of current Address proof(Aadhaar Card/Passport/Electricity Bill/Telephone Bill)

      4) Self attested copy of Income proof(3 months pay slip with Employment Contract letter/3 yrs ITR/3 yrs Form-16)

      5) Self attested copy of Age proof

      The original of same Identity proof may please be produced before TPA for identification purpose.

      We may mention that your risk will be covered only after all the above documents and
      Medical/Special reports (if any) are received and accepted to the satisfaction of our
      underwriters. Hence you are requested to kindly expedite the same.

      Thank you once again for always being there for help. Cheers.

    2. Hi Arjit Rastogi

      You have already got the email from LIC 🙂 ..

  58. rajesh says:

    I have taken LIC policy offline can I now convert it to on line and pay future premiums on line???

    1. You can always pay the premium online. Just register with LIC portal and make payment online !

      1. rajesh says:

        Thank u very much

  59. Hi,

    I have completed all the sections except the annexure. In annexure, I see two forms to fill and submit.
    1) General Financial Questionnaire 2) General Occupational Questionnaire.

    The #2 above got as mandatory fields ‘Name of Employer’, ‘Department’ etc. The problem is that I am taking this for my wife who is self employed at this moment and had been taking private tuitions for +2 batches. Did I miss anything on eligibility to take eTerm policies?

    I re-read all sections on elgibility and find that should have own income only and not to be employed by a employer. Please help me with your thoughts.

    1. Its totally ok if she has her own income, but it should not be ZERO . Are you taking LIC term plan or some other ?

  60. raja Shah says:

    Hey Manish,
    Can you tell me what’s the difference between the online and offline policy when it comes to claiming? As in if there isn’t an agent present my nominee woud have to do all the running about to LIC in the case of death, right? As per my calculations overthr course of 20 years I would pay approx 1L extra for Jeevan Amulya vs eterm which I’m assuming some % would be for the agent fees. But at least in that case we have an agent would would know the process of getting the claim amount from the LIC ( what docs, papers, death certificate, whom to contact etc…) rather than having my mother or son run about later on to get things as it is usually at govt offices (a lot of running around).

    What are your thoughts on this? Do you foresee claiming to be easier in the case of online eterm vs offline with an agent present?

    1. There is no much difference in claim process for online or offline plans . Its same. You need to claim it in same way .

      If you have someone offline whom you can really trust then, its great. But I am not sure how will you assure that ?

      1. raja Shah says:

        Thanks for the quick reply Manish. I’m sure claiming would be same for offline and online process. But does an agent make things easier (since they know the process, people there, how it works and so on)

        The only thing holding me back from an eterm is the hassel of running around (or having my nominee run around) later on in life for claiming some amount.

        Do you have a LIC website link about the claims process for eterm?

        1. Truly speaking just a small percentage of agents are true to their words that they will help your family in claim settlement. I hardly know someone like that. Its not mandatory by law , neither it brings money in their pocket, so most of them don’t help you. But if you are really picking someone who will do it, then its your trust factor .

          We at jagoinvestor are committed to help our clients families in case of claim settlement. We can at least assure that we will make it easy for a family to go to the next step. This facility is available to those who buy policy under our code.


  61. Pratheesh Karthikeyan says:

    Hi Manish,

    Happy new year!

    I applied for online term assurance yesterday – filled all the forms and paid the mentioned amount through internet banking. The money was deducted from my account ( i checked my balance) but the process wasn’t completed- it showed me some unsuccessful message and then went back to the form.

    Will my money get refunded automatically? Or do I need to do something here?

    Thanks for help in advance! This blog has been really useful for me and many others.

    1. Yes, if you have not got any message from the company on the policy buying , then the money will be refunded to your account very soon !

      1. Pratheesh Karthikeyan says:

        Thanks Manish. I hope you are correct.

        I received this mail from LIC which said – “You are requested to kindly complete the proposal and make payment towards the premium as displayed through net banking.”

        And worse – no one picks up their customer care phone. And nobody replies on email. I wonder how they can be no. 1 insurance company in this modern era.

        1. So whats your next action plan ? How about HDFC ?

  62. sach2323 says:

    I had registered for lic online e term plan for one crore on 27/ 11/2014 i had completed medical on 1st DEC 2014 . But till today i am waiting for reply from them , i had received some computer generated mail on 8th December , which are difficult for me to understand .
    I had asked for status of policy with three more reminder on mail but still i have no reply from them. please guide me now how can i get status of my policy.

    1. No idea on it .. please talk to their customer care !

  63. AJ Singh says:

    Hi Mr Manish,

    This is a wonderful blog, indeed appreciable.

    A request:-

    I will be 60 in Feb, 15.

    I have taken a Home Loan from SBI. Outstanding amount as of now is 52 Lac.

    I was contemplating to take a term loan of 48/50 Lacs as a risk coverage for next ten years.

    I looked at the following the following policies of SBI Life:-

    Decreasing Term Assurance(Loan Protection

    Decreasing Term Assurance( Family Income Protection)

    How are these? Can you also suggest any better one as well.

    With regards,


    1. You can go for Decreasing Term Assurance

  64. Dear
    I am planning to take a online term insurance plan,
    But confused whether go for a cheaper pvt. Co. Or go for costlier
    Lic e-term.
    Pl advice me on this. No co. Is asking last 3 years it return except LIC.
    And I have recently joined in govt. Job.

    Next year only file it return.

    1. You can look at HDFC as a good choice , if you need help on this professionally , you can visit –

  65. Renga says:

    Do you know when an NRI has this policy but dies when he was not in India – will he get the sum assured?

    1. Yes the sum assured will still be paid !

  66. Susanta Kumar Panda says:

    I am going through a horrific time as I applied for LIC e-term policy for a sum assurance of Rs.50 lakhs for 30yrs. My age is 30 years and I am employed as Asst. Manager in RINL, a public sector enterprise. I had filled in all the relevant data as asked in the questionaire and was made to pay Rs.9,663/- as annual premium. I was told that after my medical tests, the policy shall be issued within two days of submission of medical reports. My medical reports showed no illness and no sign of any desease. Surprisingly, I was asked to fill in another questionaire regarding my occupational risk and I complied with. However, after one month I received a communication from LIC that my premium has been increased to Rs.15,281!!!
    I have filed a grievance and reference no. of the same is 1415057239, dated 03/11/2014.
    Kindly guide what should be done and whether the premium asked is reasonable?

    1. Hi Susanta

      The underwriting team of insurance company has accessed the risks involved with you as a customer and hence increased the premium . Now its upto you to decide if you want to accept it or not . Note that Insurance is a proposal , which you have initiated and final decision lies with you


      1. Susanta Kumar Panda says:

        Mr. Manish,

        I had submitted all the details of my occupational risks during my first application for the policy. Therefore, the underwritter was aware about the risk that I am exposed and online assessment had indicated the premium to be 9663. Therefore, I feel I am being cheated.
        Further, if I decide to withdraw my application, whether there will be any deduction?

        1. Susanta Kumar Panda says:

          Hi Manish,
          Plz suggest to the above query

        2. there will be deduction of medical expenses charges if any paid by company for you !

  67. Karan says:

    Hi Manish,
    I’m buying the LIC e-Term policy and I’m stuck up in the final step of the process. They ask to fill up ‘Last salary’ and ‘Prior salary’ details. Now I have completed my first year on job and have filed only 1 ITR which was done this July.

    I entered my last year’s salary details in the ‘Last salary’ column and didn’t fill anything in ‘Prior salary’ column. A validation error comes up and says I can’t submit my salary as 0 rupees. I don’t know what to do. I tried Rs. 1 and it got accepted.

    I don’t know whether this is correct information that should be supplied to LIC. Please help me on this.

    1. Wait for LIC to send you the next update ! .. I am not sure what happens in your case !

  68. Ashutosh says:

    Thanks for the review!

    QQ: Is the premium paid is covered under 80D?

    1. Its under 80C .. 80D is only for health insurance !

  69. Paresh says:

    Hi Manish,

    LIC eTerm Policy has Term ranging from 10 to 35.

    Can you give some points to consider while choosing the Policy Term?

    My DOB: 26 Aug 1980

  70. Yogesh says:

    Will it be advisable to buy Lic e term ????

    I brought jeevan mitra triple cover (133) for 7 lacs sum assured. I have been paying premium continually for last 4 years. Now I want to buy Lic e term for 50 lacs and surrender jeevan mitra.

    Will it be advisable to buy Lic e term ?????

    My age is 33 years.

    1. Yes, only if you still need more cover for your family !

      1. Yogesh says:

        And after getting Lic e term insurance should I surrender jeevan mitra ???? Thanks.

  71. samratmore says:

    Hi Manish,

    I am beginner Investor. I went through your articles from past few days, and they are literally eye opener. Thanks for these useful articles.

    Now I am planning for term insurance and need your advice .

    I am 29 year old male (Non-smoker). Planning to retire on age of 60.

    My requirements –
    Total sum assured: 1 crore
    Need 2 policies as you suggested :). (Rs 5000000/Policy)

    I have gone through below online plans.

    Bharati AXA Life eProtect : 4495
    HDFC Life Click2Protect: 6517
    Kotak life insurance: 6555
    LIC eterm: 8202
    SBI eShield: 6770

    Prices are inclusive of taxes. Other than LIC I don’t know much about other companies and there claim settlement ratio. LIC’s premium is higher but there claim settlement ratio is also higher, so I am little biased about LIC. Or this is just in my mind 🙂

    So I am bit confused about which to choose. Please help me.

    1. Sure . I will help you on this


  72. Harshal says:

    Also, there is a question:
    Have you used a tobacco product ever?
    Does occasional paan-eating count for it?

  73. Harshal says:

    Hi Manish,
    In the lic e-term webpage, they ask some questions like:
    Have you ever been absent at work due to medical reasons. I have tsken some sick leaves and privilege leaves. What should be the answer?

    1. If it was a minor regular case, then do not mention it !

  74. nawneet says:

    I want to buy LIC E TERM policy. for that i have some query regarding that policy procedure,

    1) After payment what i have to be done.
    2) Does it require medical test. if yes where it should be.
    3) If policy is rejected ,how the payment is refund and what are the charges.

    1. kamati says:

      Hi manish, thanks for such a great article as always! 2 yes back I have taken LIC Amul jeevan offline term plan @ 25l S.A for which I am paying 11k with additional premium for kidney stone found. As directed by LIC I gave needed medical tests. But now when I checked about kidney stone , same is not found as it’s went out as I have taken more water as directed by doctor since the stone size is very less 2 mm. Now I want to take new eterm of LIC, is there any issue due to my previous kidney stone which is not present? Or do I need to inform about that? Pls suggest manish sir.

      1. Yes, you will still face the issue. In the form they will ask for the previous illness and for that you will have to mention that.

    2. After you make payment , you will have to do medicals, the company will schedule it

      If policy is rejected, it will be refunded back to your bank account

  75. tejas says:

    Hi Manish,

    This is a very useful article.
    I am reading books written by you and I must say they are very helpful.
    I have one doubt here.
    Here in required documents they have mentioned form 16 for last three years. But I started working last year only and I have only one Form 16.
    So how should I buy policy now?

    1. tell this to the company and they should be fine with it !

  76. ajay.kolambe says:

    Guys, Why you are worried about the premium & so much pyar about LIC.
    Go for companies like HDFC, Kotak, SBI Life, I Pru where premium is 50% cheaper than LIC and settlement ratio is also > than 95% where LIC is having 97.5%

  77. rajesh chopra says:

    Sir, while filling LIC’s e term plan I am stuck at following.

    Do you take part in any hobbies / activities that could be considered dangerous in any way ? e.g. aviation (other than as a fare paying passenger),mountaineering,diving or any form of racing etc?

    Since I do take part in paragliding , water sports or balooning etc once or twice a year during family vacation I have said YES . But while filling aviation sports page I am unable to fill. Pls advise how to fill frequency and no: of hours. Though I have mentioned that I only and that too may indulge during annual vacation at tourist places under guidance of instructor.

    Also advise if I need to say YES or NO to this question. If YES then pls advise how to fill as I am unable to proceed from that page.


    1. I think you should have put NO for that. Its not something you do very regularly like every month . Every one does some thing yearly while vacations 🙂

  78. Raja says:

    On 29th Jul, I have filled the proposal form online and paid the amount for e-term policy. But I didn’t receive the proposal form in pdf form.Also I didn’t receive any communication from LIC.
    But i got acknowledgement for money paid. What is the next step.
    LIC customer care is very poor, I wrote a mail no reply. I tried to call them, always busy.

    1. file a RTI now . Also put an email

      1. NAWNEET PATEL says:

        i also faced same problem
        i put so many mail but they never rply.
        there phone are always busy ,if ringing nobody pick up.

  79. Shailesh says:

    I recently visited LIC office in Shivajinagar, Pune and enquired about term insurance plan. After hearing details I asked officer to hand over me the brochure detailing terms and conditions for it and he simply said there is none as printed and he just told me what is covered verbally.
    Later I asked , LIC recently introduced online policy booking, so how secure is it because it’s premium is less ?
    He smiled little and said due to no intermediate person, the rate is less but it is advisable to book policy with agent so that no more issues come during settlement.
    This whole conversation made me think twice-thrice before I choose LIC or get some other insurance company. I too smell fishy about all this term policies.

    1. Its not a term policy issue . But the person whom you dealt with . You can either take it online or with agent , there is no nothing fishy


  80. Madhu says:

    Medical check up is compulsory for any sum insured? or only above 50 lakhs??

  81. Ujwal says:

    Hi Manish,

    Thanks for running this wonderful blog!

    I too took LIC e-Term for 75L and it took me to last page to pay for premium, but did not ask for any medical tests or passport for Identification – Nothing at all..

    I smell something fishy here – would the e-Term policy holders be treated differently when applying for claim as they might make any reason to reject in absence of medical tests and identification documents?

    Thanks for your help!

    1. There is no issues. As per your data provided , its decided if there is any medical required or not . So dont worry !

  82. Anand says:

    Hi Manish,

    I just opted for this LIC eTerm insurance, filled up all my details, generated the online declaration form and made the first premium payment.

    However I had a couple of queries:

    1. You said we need the last 3 years Form 16/ITR. But nowhere in the online application form did I find any column to fill the Form16 / ITR details (apart from the Personal Financial Questionnaire – Annexure- I that I get in the last step where I had to fill up my annual salary, investments and liabilities)
    Did I miss anything?

    2. If I’m right, medical tests are mandatory for LIC term plans. But even until the last step and after the premium amount was deducted from my account, I did not see any page that indicated about this medical test. I was assuming that the page would lead me to somewhere mentioning about the authorised centres where I can have my medical tests done. But that didn’t happen. Did I make some mistake anywhere?


    1. It might be required for a very very large sum assured.

      Medicals still depend on the info you provided and not always .

  83. Anand Singh says:

    Hi, Manish
    I had read your post ( ) some months before, when i got call from Aegon-religare to purchase online term plan.
    Actually I have to purchase a online Term insurance, because it cost less.
    Is it good to purchase online term policy from LIC… do you have any idea of claim settlement for online in LIC.
    Can you please update your post (above link) with latest data.
    Anand Singh

    1. There is no data from IRDA on term plan settlement . You only have data on combined policies

  84. Aum says:

    Hello Manish, Grettings

    Thanks for you post and replies…they are really helping many of them out there looking for quick ans to their queries. I am putting down here some very pertinent question most of us would have.

    – You clarified that in Insurance world a “Smoker” is always a “Smoker”, but if some was just a social drinker (couple of beers on occasions) and occasionally gone for Puffs … but no longer is in a habit of any of them occasionally

    Now in Term plan it becomes really important to know the consequences of the information that we are giving while submitting the form.
    Option-1: Non Smoker selected
    I don’t select myself as NON smoker and Non Drinker as I am not having any habit of it anymore while submitting the Form.
    QUE-1: Will they go for any check up before approving my underwriting ?
    QUE-2: In case they go for a check up then how would they come to know if I used to occasionally smoke or drink 4 years back.

    QUE-3: As you mentioned “ The policy only ask for if you used to drink or smoke “ but in case you start after the policy is taken then it doesn’t matter. In that case how would a company prove in case of my death after 20 year.. that I used to Drink or Smoke before taking my policy and NOT after.

    Option-2: AGGREGATE Selected
    Important: Also in case if I select the “AGGREGATE” option ;

    QUE-4: Can the claim be rejected later on, if my death happened due to any disease that the company can relate to smoking and drinking as I mentioned it in my form?

    I am 34 year individual and used to occasionally Drink/Smoke and left that to since last 4 years. My premium for 1 CR is coming as 26k for non Smoker and 34k for aggregate option, which is pretty huge difference.It’s important to know these because I am making my mother as the Nominee and there is no one for her except me .

    Appreciate a quick response as I am planning to buy the same in a day or two.


    1. Hi Aum

      Have you taken your life insurance now ? Or should I reply you the answer ?

      1. PR says:

        Hi Manish,

        Why don’t you answer the queries anyway for the larger audience? I am sure many others have the same queries.


        1. Hi PR

          There are tons of queries on blog and its not possible to answer each of them , hence asking if that guy still has the query .

          If you have some query , you can also ask it on the comments section


          1. Rahul says:

            Hi Manish,

            My questions are also very similar to this one – I used to smoke but now have stopped. Which option should I select – what will be the impact?

            1. I think you need to talk to company on this. ASk them what is their policy in cases like yours !

  85. Nikhil says:

    Thanks for the article.

    I have some basic questions while filling the form .
    1. I am 25 year old working in IT company. They have asked for Length of service in years in employment section. Normally present company is not fixed for years. I might change my company in upcoming years. What should i put as Length of service .

    2. Can we add more than 1 nominee with % allocation for each?


    1. 1. I think it means total number of years you have been in service .

      2. Yes

      1. Shiva says:

        Hi Manish,

        How are you? Thank you for your time.

        “Can we add more than 1 nominee with % allocation for each?” – How can I add more than one nominee while filling up online application? I did not see such option to add more than one.

        I tried calling on the given customer care numbers but no one attends as usual… says line is busy 🙂

        Please suggest.


        1. Hi Shiva

          This is mainly the company level issue how they have designed their online form, so only they can clarify on this.


          1. Shiva says:

            yeah. You are right Manish.. at least can we add more nominee after getting the policy for eTerm?

            Also few more additional questions 😉 ..
            1. Right now I don’t have any outstanding loans or liabilities however am planning to purchase house in near future.
            Should I need to update it as well with my insurer after getting the policy..?
            2. Regarding assets, right now my all assets might come to 25L only where as I am looking for more than 70-80L coverage (approx. 10times of current earnings).
            Is this something considered while granting me the sum insured?

            Please share your thoughts and thanks in advance.


            1. Hi Shiva

              1. NO
              2. It depends on your income and not your assets 🙂 You should be able to get 70-80 lacs insurance. If you need HDFC life insurance term plan, then let us know !


            2. Shiva says:

              Hi Manish,

              Looking for your advice on my case.

              A minor surgery (stitching marks are visible in that area) was done to me in 2003 Mar-May for releasing a intestine ring that was formed under abdomen at Woodland Hospital, Bharkatpura, Hyderabad, but unfortunately I don’t have a copy of discharge form (As far as I remember, it was hand written form) or any other reports of this surgery.

              I have contacted the hospital administration and was hoping that I would a copy of that but they are saying that hospital was not computerized during 2003 so they don’t have such very old reports and there is a very less possibility of getting them even if they search there store rooms(In spite of several visits, I could not see positive response from them either)…. anyway I am planning to visit the doctor cum MD of that hospital who performed that surgery and hoping for the best.

              In this context, I have disclosed this fact in the proposal form and attended the regular medical tests as directed by LIC however there was no special diagnosis done w.r.t the surgery that I disclosed. But there is a query from LIC’s underwriter for the copies of discharge form and other reports if any, which I don’t have with me at present. So

              1. Do you think, is there any alternative way for LIC to examine/diagnose me to evaluate present health condition up to the satisfaction of their underwriters? I am ready to bear the expenses (if they want) for these diagnosis as I don’t have any health issues post the surgery till the date.

              2. At least, how other insurance providers deal in these scenarios.

              3. Is it something that must disclose because it was happened almost 12 years back whereas I am healthy at present(at least as I see myself ).

              4. finally, Will I get my term insurance on this context or not? if not with LIC, is there any other provider who can handle this case and issue me term insurance?

              5. If I cannot get term insurance, could you please suggest me best insurance policies that are equivalents of term policy or something some thing similar.

              Waiting for valuable suggestions.


            3. Hi Shiva

              Actually the questions you have asked depends on the underwriting mechanism of the company and things which I can not comment on at all . I think only LIC can give you more inputs on this .

              Also I suggest instead of LIC , check with some other insurers who are more investor friendly and will answer you in right manner in start.

  86. Hari says:

    Very very thanks Mr. Manish,
    your reply cleared my 2 points
    kindly extend your kind cooperation
    Since i got the “Home Assure” from ICICI PRU LIFE through DHFL, I have gone through the policy document nowhere they mentioned the point of [ How Accepted ? = OR / EXTRA ]
    is it OR mean ordinary and EXTRA means with extra
    please help me to know and fill the LIC Form my self.
    very thanks once again
    With regards

    1. I am not myself clear on this point . How accepted means what ?

  87. Bhaskar says:

    Dear Mr. Manish,
    Kindly guide me.
    I am 29 Years age now.residing at mumbai.
    I have Juvenile diabetes(Type-I) since last 9 years.
    No any other health smoking, no drinking.
    No family history of any type diabetes.
    1. Can I get LIC e- term online policy of 50 lac cover?
    2. which special tests i have to undergo for this insurance?
    3. will they give me insurance with higher premium rate?what will be rate approximately?
    4. if NO, then can i get online 25 lac at Aggregate Rate.
    Please guide me.

    1. Only LIC will be able to comment if they would like to give it to you or not . Its a company decision

  88. Hari says:

    if yes
    Kindly clear my doubts please.

  89. Adeshwar Bhandari says:

    Dear Manish,

    Thanks for sharing this article.
    Based on this article, I successfully purchased LIC e term policy for 1.1 crores. it is cheaper and reliable. Now I feel safer.

    I am trying my best to educate with the benefits of having term policy to each and every individual I came across in my daily life.
    It has become one of life’s goal now.

    Adeshwar Bhandari

    1. Good to hear that Adeshwar 🙂

  90. Hari says:

    Dear Mr. Manish
    Kindly guide me
    While filling my previous insurance on LIC eTerm, I am little bit confuse to filling quarries of LIC
    After I gave my “Home Assure” of ICICI Pru life which was issued while getting Homeloan from DHFL
    LIC Quarries
    How brought ? = offline / online
    Benefit type = Basic SA / Rider SA
    How Accepted ? = OR / EXTRA
    Father Health ? = Good / Not Good :
    ( my father having type 2 diabetes and he is taking tablets, there is no any other health problems)
    Hope you will help me to clear these.
    With warm regards

    1. These details are to be filled by you only . How can we know if you bought it offline or online and other details . For father health , you need to put NOT GOOD

  91. Siva says:

    Hi Manish,
    I’ve a general query but not specific to LIC term policy.
    Does Body Mass Index play a role in calculating the premium for term policies?

    1. Yes, it can .. But we are not sure if company look at it that way !

  92. Pankaj says:

    Hi Guys,

    Have a question. I am aged 35 and smoker. Planning for Term insurance.

    Going for Mix of Lic ETerm (30 Lacs for 30 yrs)+ HDFC Life CLick to protect(30 Lacs for 20 yrs)

    Problem is that, both the plan don’t offer any riders, like disability or critical illness.

    Can somebody suggest me any other plan which gives riders ? Or any other ways of insurance which insures disability also, permanent partial ?

    Great Thanks in Advance.

    1. Online term plans will mostly come without riders only . Better take a plain one and take the accidental insurance separately !

  93. TANUJ PARIKH says:


    LIC online buying page is showing Read Sales Brochure before applying….But I didn’t find the link for it anywhere in the site.

    Please share the link for sales brochure.


    1. TANUJ PARIKH says:

      I have mailed with few queries to LIC…but no reply yet…

      One more strange thing observed….Both LIC official site and SBI official site…for e-term of LIC and e-shield of SBI is using same image for ad (A happy couple with their small daughter).

      Manish…your expert view/comments on this…



      1. they buy images from external agency . it might be the same one , does not matter much !

    2. Better connect with LIC customer care for this

  94. Chhetrapal Singh says:


    I have an question about the definition of “SMOKER”. for insurance company

    1- If a person did not smoke till the policy purchased and after purchased he/she will start the smoking, will that person would be considered as SMOKER????

    2- If a person smoke only occassion during the parties with friends else he/she dosen’t smoke. Should that person will also considered as “SMOKER”???

    Thanks in advance for your answer

    1. Harsha says:

      Hi Manish,

      even i have a similar question. Could you please answer for this?

    2. 1. You can do whatever you want after the policy . The policy is only concerned about the PAST and not future

      2. If you have smoked ever, even a small quality , you are still SMOKER !

  95. Sachin says:

    Hi manish
    i also wanted to know the same question which Aman already ask…
    looking for your response

  96. Aman says:

    Hi Manish,

    Lets say, today I buy LIC’s eTerm and as I’m not a smoker & don’t consume alcohol as well, I declared this in LIC policy.
    Now, if in future I started consuming alcohol or smoking; now what?

    1. You can do that .. the term plan is all about TODAY INFO, not future !


      1. rajesh says:

        Then every one say that they r noon smokers and non alcoholic while filling the application and say later I started taking them. Coming to claim settlement what actually happens???. Manish ur comment please..

        1. It does not work that way, It will appear in the medicals .

  97. eyadram says:

    Hi manish,

    Over a period of time, I have become an ardent admirer of, a heaven like site for financially illeterate people like us.

    I have a question related to LIC’s online term policy.

    After filling in all details, I was stuck on the payment page as I have an account in citibank and citibank was not there in list of banks for payment.

    I have an acccount in SBI, but my phone number updation is pending since last 2 years even after numerous phone number change applications.

    Is there any way around for this ?

    Hoping for fast and positive response.

    Thanks and Regards//

    1. Dont they have a cheque payment option ? I am not sure if there is any solution to this, did you talk to customer care of LIC

  98. Devendra Sarda says:

    I am presently living in a town since last 20 years and have no plan to shift in a city, my queries are-
    1- Whether LIC on line term plan is available for all india basis or available for selected cities residents? means If I live in a town can I purchase LIC online term plan or not?
    2- If your answer is no, then what should I do to avoid agent commission and to buy cheap term plan?

    1. There is a list of cities available on their website, you can buy it only if you are in that city as of now

      1. Umesh Sukhwani says:

        I filled online form of e-term policy. It had the list of nearest cities to which I selected the nearest one. However I don’t reside in any of the mentioned, but my form got filled and the premium was also paid.
        Will the policy be rejected?

        1. Hi Umesh Sukhwani

          No I dont think it will be rejected .

  99. Vishal says:

    Hi Manish,

    I already bought LIC offline Term plan for sum assured 50 Lakh(age 34), for that I am paying Rs.15300 premium per year. Now here come online term plan with low premiums.
    Now I want to know which is one good for claim settlement – LIC offline? or LIC online Term plan ? As this is the most important thing to our family too concerned about.
    Is there any past experience where the settlement ratio of offline plan is more secure compared to online plan ?

    1. saurabh sharma says:

      Hi Vishal,
      You can keep a combination of both. It would be safer.


    2. Any term plan (offline or online, LIC or private) they have the same procedure ..

  100. saurabh sharma says:

    Hi a question often boggle in my mind, that when you are going to purchase LIC online term plan you are asked how many ciggrrette you consumes in a day or how many ML liquor you consume and you dont have any option of saying that the client has stopped smoking 4-5 years before or he drink or takes cigrette once or twice in a month. So who will be considered as smoker under term plan. i invite comments based on solid facts.

    1. Anjan says:

      I faced similar vague questions while filling up my SBI Life e-shield proposal form. While I am not a smoker, I do drink occasionally but there is no fixed pattern or routine to my drinking. I am what you call a social drinker. So its very hard to answer questions like “How many ml of alcohol do you consume every day”.

      No matter how you answer these questions, there is always an element of ambiguity. The question is can the Insurance companies use the ambiguity in these answers to decline a claim later on? That’s what worries me. I have no idea how they can even know how much I drink anyway.

      1. saurabh sharma says:

        We want Manish expert advise on it. Manish please comment. We are waiting to hear from you.

        1. Saurabh

          The point is that from the insurance company point of view , once you are a smoker or drinker . then you category is of SMOKER OR DRINKER. It does not matter if you stopped it long back or consume less or more ..

          From insurance view point , you are SMOKER or DRINKER . You cant do much


  101. SAMPATH says:

    Dear Mr. Manish

    I would like to note some points which is hidden on data, even at IRDA

    all insurance companies are giving their Claim settlement ratio for overall all policies. But what about the exact claim settlement ratio for high sum assured and term policies.

    Say, X company is giving 95%, may be the rest 5% of policies is HIGH SUM ASSURED and TERM POLICIES.

    how we can trust these companies.

    1. Yes, thats the problem 🙂 .. You dont have data segragated like this .. but all private insurance companies give their own data for this , which no one trusts !

  102. saurabh sharma says:

    Hi Manish,

    This is a good news for all. Just need your opinion that I already have an off line Anmol Jeevan plan of LIC for Rs.25 lacs and paying Rs.8375 every year. And now since online LIC plan will give a cover of 50 lacs within same amount. So should i stop paying the premium of Anmol Jeevan and buy an online plan of 50 lacs. Or should take both options as safer case.


    1. Yes , you can do that ..

      1. B says:

        Pls Dont discontinue….i am of the opinion that … the older the policy …greater are the chances of getting the claim approved…if you want take a new one with 25 lacs… but pls continue the older one..

        1. ” the older the policy …greater are the chances of getting the claim approved…”

          who told you this ?

          1. B says:

            i mean to say.. that if a large claim (typical of a term plan) is requested in the early stages there is certainly more scrutiny….

            1. YEs, there is always a deeper scrutiny !

  103. Venkatesh Iyer says:

    I have 2 Term plans one Kotak (Kotak Preferred Term Plan ) premium Rs 14340/- per anum..sum assured 50 Lacs . Premium paying term 30 yrs. Second policy is AVIVA LifeShield Platinum, premium is Rs 12960/- ,Sum assured 50 Lacs.
    So for a cover of 1 Crore I am paying Rs 27300/- per anum.

    Will shifting to a Online plan be more beneficial. I have been told for the Online plans the premium across the tenure does not need to be fixed and the insurance company may change it if required. Can you advise.

    1. You can take online term plan , the premium is FIXED for all the future years ! . Someone mis-advised you on premiums point !

  104. Siva says:

    I checked with LIC. They said the e-Term policy is not for NRIs. Currently it is applicable only for residents of India.

    1. In that case I was wrong ..

  105. Narayan says:

    Its still very very expensive compared to private online insurers.
    LIC is taking advantage of its ‘reputation’ 🙂


    1. It not too expensive for younger people .. Which age group are you looking at ?

  106. care says:

    Hey Manish!

    Thanks for bringing up this nice article. I had a query on this regarding smoker and non smoker. I have quit smoking long time ago (almost 4 years now) , will I still be qualified as smoker?


    1. Yes, you will still be considered as SMOKER . .Once a smoker , always a smoker for insurance world !

  107. AHT2403 says:

    Hi Manish,
    I purchased LIC Anulya Jeevan in Oct2013. Now I want to purchase LIC e-Term plan. I have following queries :
    1) Do I have to formally close the Amulya Jeevan before buying e-Term, or just stop paying premiums?
    2) Is there any rule about total maximum limit combined for all purchase policies for the sum assured on the life of a person based on his income or total premium of all purchased policies?

    1. 1. You can continue the old one .. why do you want to close it ?
      2. Yes there is .. generally a person should not be taking more than 20-30 times his annual income as his sum assured .

      1. AHT2403 says:

        For same parameters I am paying 28500 for offline plan, whereas online plan says 16500. Age 36, SA 50 lac, term 35.
        What do you suggest? Should I stop offline plan and apply for online plan?
        Also before applying for online plan, should I close the offline plan?

        1. Yes, that would be a good option .. go for it ! . there is no requirement of closing there offline plan

  108. Palvinder Mann says:

    Well I have purchased LIC Amulaya Jeevan for 50 Lac Sum assured in 2012, Can I surrender this policy and purchase the online plan as it gave me approx double sum assured in same premium as I have paid only two premiums yet.

    1. Raja says:

      There is no concept of surrender in term policies. Simply take the online policy and stop paying premium for the earlier policy.

      1. Palvinder Mann says:

        Thanks a lot !

    2. yes, you can do that !

  109. Shiju Alex says:

    Hi Manish,

    I was comparing the premium of the term plan relaunched by LIC few months back ( with the current online term insurance plan. It looks like the premium is same. At least for me, it looks like so. I got the same premium quote for the offline plan from an LIC agent. Have you compared the online plan with the revised offline ( plan

    1. What age, and sum assured are you looking at ?

      1. Shiju Alex says:

        Age is 38, Non Smoker, Residing in India and Sum assured is 50 Lakh.

        My question is, regardless of age, is there is difference in premium for the newely introduced online plan and the recently relaunched offline plan ( I found it is same.

  110. prashant says:

    hi Manish ,
    nice article , LIC launched e-term plan that is good but …. hope they support better and proper way to customer .. i seen offline agents are so rude after taking policy . offline situation is like this even they getting 30 % amount from each premium … just thinking about how they will behave online … 🙂

    1. There is no agent involved in online !

  111. vijayln says:

    Hi Manish,
    I am 38yr old and already have 75L term insurance from HDFC click2protect & now I am planning to buy additional 75L online level term cover insurance for 20 yr term and short-listed Kotak e-preferred (Rs 13,370) & SBI e-Shield (Rs 13,678) – Pl advise which one to choose?
    Thanks in advance

    1. SBI e-Shield is a better option I guess .. why not LIC ?

  112. jay agarwal says:

    LIC online term 25 year plan for a 37 year male smoker, is costing 15600/- annual premium. (Incl Tax)

    HDFC click to protect is 13800/- Approz (incl tax)

    ICIC icare is coming to: 12600/- Approx (Inc tax).

    HDFC and ICICI both have a good claim settlement ratio..Not a bad option to stick to them.

    1. Yes , you can go ahead with HDFC !

  113. Siva says:

    HI Manish,

    Kindly let me know do we have any Life Insurance policies with one time premium? I checked with HDFC. They do not have one time premium option for Click2Protect policy.


    1. Francis Xavier R says:

      Hi Karuppiah,

      Annual premium option is better than one time premium. In one time premium
      you lose opportunity cost and flexibility.

      1. Siva says:

        Thanks!! I am worried that I will forget sometime in future to pay the premium. hence looking for one time payment or the auto debit facility for premium payment. The auto debit facility does not seem to be available.

  114. Akash says:

    Hi Manish,

    I have checked the plan, In documentation they are asking for Last three years ITR or form 16. But I have last years ITR and this years form 16 only so it will be ok ?


    1. Yes .. but better check it with LIC customer care !

  115. Sumit Nathany says:

    Hi Manish,
    Lot of thanks for this article.

    I bought HDFC term insurance 4 months back, premium ~5600/-
    Now that LIC e-term insurance is launched(premium 6200/-), I am thinking of buying it and surrendering HDFC policy.
    What’s your opinion regarding this?

    1. Yea .. given you bought it just 4 months back , it would be a good idea .. but only if you trust LIC much much more than others ..

      1. Sumit Nathany says:

        Hi Manish,
        I do not have much idea if we should trust LIC much more than HDFC. That’s why I wanted your opinion. What do you think I should do??

        1. Yes, even I dont see a reason why we should trust LIC more than others .. personally !

  116. Vivek Navgale says:

    Hi Manish,
    I’m frequent reader of your posts. They are well explanatory and the comments/answer section add extra spice to the information. I have a question here. I have Amulya Jeevan plan for 35 yrs term for 50L coverage , paying Rs.14700 premium ( was 25 yrs. when I opt for this plan). Now I see with this online term plan , with near about premium ( Rs.13483) I’m getting 75L coverage. Should I close my current plan and buy this new online plan ? Your thoughts …


    1. You can do that , just that you will have a new fresh policy …. and make sure your medicals dont have any new issues, else loading will come !


  117. Malik Waghu says:

    Hi Manish,

    Thanks for Informing about online plan of LIC.
    Just one question, I have one LIC term plan for SA 2500000 total premium is 10000 aprox which is for 35 years this is just one year old policy.

    Do you think shall i opt out for Online Plan where i can get more Sum Assured.

    What you suggest.

    1. Yes, you can do that .. go ahead .. better take a 50+ lac plan !

  118. Nishikant Tripathi says:

    Hi, Thanks for the nice article. Do you suggest going for private companies like Aegon or Aviva which are very cheap as compared to LIC e-term, but CSR is on the lower side? Do we face problem while claiming ( in Private companies) if we have gone through medical test and clearly indicate everything while buying policy? Thanks in advance.

    1. You can surely go with any company .. just make sure all info you give is correct . CSR is not a fully understood term .. I will soon so an article on that !

      1. Nishikant Tripathi says:

        Thanks Manish. I was expecting the same 🙂

  119. prasad says:

    Does this plan has any rider options like death due to accident etc ? ICICI PRU icare option II has this option

  120. Raja says:

    I found it 50% more expensive than HDFC Click2Protect for a 1Cr cover of 25 yrs. Or am I missing something here?
    Age 35, Term 25 yrs, Cover 1Cr
    HDFC – Around 14600
    LIC e-term – Around 21500

    1. Yes its expensive then private one.. Compare it with offline version of LIC itself !

  121. tsashok says:

    Fantastic presentation.This is expected by us for long time. Nice video presentation.

  122. Dhvanesh says:

    Thanks a lot Manish.

    Here is what I was waiting for. However, here is a quick question. As you have mentioned in the article. I need to mention previous life insurance policies to buy term plans. Even, all most all term plans ask for previous insurance policies.

    Is it compulsory to mention existing policies? I just bought two LIC(Jeevan Anand and Jeevan Saral) six months back and thinking to surrender it as there is no value of having those polices. Is it fine to buy term insurance first and then surrender previous policies? Or should I first surrender policies and then buy term insurance?

    Your suggestions will be valuable to plan my financial life.

    And yeah.. thanks to you and your book “How To Be Your Own Financial Planner in 10 Steps”. I just read it and it has changed the way I look at financial life.

    1. Yes you need to mention them also, even if you are planning to surrender them, it does not matter because you have to also mention all the policies which you surrendered in last 3 yrs . So you cant ignore that..


      1. Dhvanesh says:

        Thanks a lot Manish.

  123. shaik says:

    I have already taken lic term insurance through lic agent for 35 lakhs@ premium of 15000-00 when I was at 30 years old. Now I am 32. Now I want to cancel the old one and go for this online one. Do you think its a good idea.


    1. I am not sure how much is the difference in the new premium now .. because you got this 2 yrs back , try calculating the premium online once ..

      I dont see much issue in changing it !


      1. shaik says:

        Thanks Manish.
        For the same premium below are the differences.
        Through agent the SA is 35 lakhs.
        Through online I am getting 65 lakhs. Which is almost double benefit.

        Thanks for educating us.


    2. chennapragada srinivas says:

      NO, never cancel the existing term plans of any company.
      in case of higher sum assured from any company , take a new policy and menction the earlier policy details.

      1. shaik says:

        Why so srinivas? What are the draw backs of cancelling the existing one and going for a new policy.

  124. Happyinvest007 says:

    Hi Manish,

    Its a good article, also I have checked the website and created access ID. But its no where showing which riders/waivers included in the policy. Now a days people will attract only when companies provide them with some riders/waivers. As LIC’s premium is slightly high so I guess they must provide riders.

    What is your opinion?

    1. I dont think so .. riders are not some free thing which they should provide just like that, it cost extra always !

      and most of the term plans online does not provide any riders .


  125. sunil says:

    Hi Manish,

    I am already having 10 Lacs term coverage of LIC through Anmol Jeevan at an annual premium of 2700 and desire to take 50 lacs coverage for 30 years through this e-term plan. But while doing my calculations, I found that my 10 lac coverage will end by the age of 48 (as I took it when I was 23 for 25 years term).
    So, Should I discontinue that older Anmol Jeevan and take this e-term plan for 75 lacs which will cost me only 1400 extra per year (as out of total 4100, 2700 will be contributed from the stopped Anmol Jeevan) and it will provide me additional coverage of 25 lacs till the age of 58. Whats your opinion over that. I hope there should not be any complicacy in discontinuing the older policy for taking a better policy of the same Company. Plz advise.


    1. Yes you can go ahead .. it looks like a good idea ! . I dont see any issue !


  126. Dev says:

    Thanks Manish for the information!

    But when i checked the premium of the online term plan, it is almost the same as that of offline plan. Below are the details:

    Sum Assured: 1 Cr
    Term : 35 years
    My Age: 23 years
    Non Smoker

    Premium for online term plan: Rs 12921/-. I couldn’t see the discount of 37%.


    1. Hi dev

      The disocunt of 37% which I have mentioned is for 50 lacs sum assured for a 30 yr old person (non smoker , 30 yr term) . Its an approx discount ..

      So it might happen that for a specific case you dont see so much of discount ..

      Also , I am not sure if you are comparing it with Amulya Jeevan II ?


  127. Abhay says:

    Which riders are covered?

    1. None .. Most of the online term plans dont have any riders !


      1. Abhay says:

        Hi Manish,

        So for on-line term plans, insurer’s family gets the sum assured for natural death or accidental death or both of the insurer?
        Please reply…

        1. You will get it from both insurers !

          1. chennapragada srinivas says:


  128. Nilesh says:

    Hi Manish,

    Thanks for informaing about most awaited plan.

    After considering premium and claim settlement ratio, I feel HDFC CLick2Protect looks optimum. Any thoughts?
    Is it good idea to have 50% sum assured with LIC eTerm and 50% with HDFC Click2Protect?

    Please advise.


    1. Hi Nilesh

      Truely speaking, you can go with any , but you need to have huge trust and understand how things work . I know the trust with LIC is very high and almost everyone will ignore things . However HDFC Click2Protect is a good option , You can see as per IRDA , HDFC and ICICI pru claim settlement record is almost close to LIC’s and above 95%

      Yes, you can go with 50% each with LIC and HDFC


  129. Vikas Kumar Sahu says:

    I purchased term plan for LIC just 2 months ago with annual premium 12000. Can I discontinue previous policy and go for online policy?

    1. Yes you can do that , but there wont be any TRANSFER !

      You will have to forget your old policy and then buy a new one !


  130. Santosh says:

    Hi Manish,

    I noticed the following regarding LIC Term Plan.

    A. If i take term plan till 70 years, the premium is approx. 9500
    B. If i take term plan till 65 years, the premium is approx 8000

    Which one would you recommend. The thought occurred to me that for someone between 65 to 70 years, having a health plan is more important than having a term plan. Why not add the difference of inr 1500 to my premium of health plan.

    Your thoughts ..


    1. Yes, if you are getting a good plan in additional 1500 , go for it ..

      Also I would recommend going for just upto 65 yrs .. Its not required above that age !


      1. Santosh says:

        Thanks Manish. After your reply, whatever little doubt i had is no more. I will go for term plan till 65 .. and a good health cover till max age.

        1. ramjean says:

          Why do you say that term insurance is not required after 65. The probaility of the an event which will tigger the term insurnace is the highest during old age and will benefit my family (I am not putting it in the right way).

          An article on this specifically would definately benefit everyone.


  131. Anjan says:

    Been waiting for this day for eons. I have been avoiding LIC policies like the plague because there was no choice to buy a policy directly without going through agents till now. But now, I will finally be able to purchase an LIC policy 🙂

    I am thinking about dropping my SBI Life e-Shield plan in favor of LIC e-Term. I am sure many others are also thinking along the same line. We all know about LIC’s legendary claim settlement ratio and that’s always a big factor playing in everyone’s mind. The increase in premium for e-Term will barely be a few hundred rupees for a young guy like me. Should I switch? What’s your opinion on this Manish? Are you personally harboring any such thoughts?

    1. Hi Anjan

      You can do that if your trust factor is so high , however I cant say that its the only logical step ahead. It also depends how long u have been paying for SBI term plan you have.. take your decision wisely

      Claim Settlement ratio is something one has to properly understand , and I am planning to do an article on that soon ..

      What is your view on claim settlement ratio ? What is it exactly ?


      1. Anjan says:

        Hi Manish

        My understanding of claim settlement ratio is only as good as anyone else’s. It shows how many claims out of every hundred gets settled in favor of the claimant.

        It could also be an indicator of the degree of scrutiny and nitpicking a company does before settling a claim. To that extent, I understand that since an overwhelming percentage of policies sold by LIC are practically investment plans, its easier for them to settle low amount claims.

        SBI Life also has a CSR of over 95% which is great and hence the reason why I have decided to stick with my e-Shield policy for now. But deep down, if you notice the Indian psyche is to always trust government backed products more. Even investment avenues backed by GOI are considered more or less 100% safe.

        Looking forward to your article on this important issue, Manish.

        1. Yea , your understanding is correct overall , but there is more deeper way of looking at it . Will do an article soon


          1. @Anjan: The CSR of any bank or insurance provider is inclusive of all the term plans, endowment plans and ULIPs. This was just to point out that CSR should not be the ONLY deciding factor.

  132. RK says:

    Hi Manish,

    I don’t see an option for NRI to get in to the purchase process.

    Where do you saw this:

    Can NRI take the online term plan from LIC ?

    Yes, NRI’s can also buy the term plan from LIC, but it clearly mentions that they will have to be present in India for medical examinations.

    1. ON the front page itself, you have that check marks which asks

      1. I am citizen of country
      2. Resident of India

      DO not tick mark on the 2nd option , which would mean you are NRI !


      1. Rokhan says:

        Hi Manish

        Not sure how you got through, but when I keep the second option (resident of India) unselected, it doesnt allow me to go to the next page, I get the error message: *Confirm that you are residing in India

        1. Rokhan

          Actually I didnt try that, Its my assumption that it should go to next step. But if its not working , then better now connect with LIC customer care and check with them what has to be done !


  133. Rokhan says:

    Hi Manish

    My bank recently put me in worry saying term insurance purchased in India for NRIs will only be claimable if something were to happen to me when I was in India and not abroad. That defeats the whole purpose of purchasing insurance from India.

    Your thoughts/advice on this please.

    1. RK says:

      Same concern here!

    2. Which Bank said that ? I am sure its the bank employee and not BANK official statement, because its not true . You will be paid, not matter where death happens . Just that the claim will be processed in INDIA and those who are claiming will have to be in India for the process .


      1. AR says:

        hi Rokhan/ RK/ Manish,

        there is no issue.
        FAQs 2nd last point in on LIC website

        ♦ If I am travelling abroad for business/vacation will I be covered?

        → Once the policy is issued you are covered across the globe. Even in case you get an opportunity to work abroad the coverage shall be applicable.

        1. Rokhan says:

          Hi AR,

          From the above statement, it seems you need to be a resident of India when you apply for term insurance. Subsequently if you become an NRI, that is ok.

          However, this does not include existing NRIs and when I tried to apply for the term plan, I could not go through unless I confirmed I was a resident Indian.

          1. As I said Rokhan

            There should be someway for NRI to buy it , because on the 3rd or 4th screen, it mentions that if you are NRI , you will have to be there in India for medicals . just talk to customer care !

            1. Ranjith says:

              The first page of enrollment was not allowing me to proceed without selecting “Residing in India”. While filling ‘Identity’ section of Basic information, ‘Residential Status’ is a static text field already filled with ‘Indian Resident’.
              Hence I called up LIC’s Thiruvananthapuram office & they confirmed that NRIs are not allowed to take this policy.

              Doesn’t understand why, as the reduction in premium is by removing agent commission and all other procedures remain the same. 🙁

      2. chennapragada srinivas says: for NRI POLICIES paid irrespective of place of death, but sum assured paid in INR only.

    3. Deepak says:

      but as far as I have read the FAQs of LIC term plan, it will cover you anywhere i.e. in India or outside India.

  134. Bhavesh Furia says:

    Thanks Manish for informing about the big launch !!! 🙂
    I am sure many people were waiting for LIC online term plan.

    1. Thanks Bhavesh

      yea .. lot of people were waiting for the LIC online term plan and in a way its not right to expose yourself to risk of life 🙂

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