Does LIC offer any pure term life insurance policy?

POSTED BY anil ON January 18, 2014 9:54 pm COMMENTS (12)

Hi,

I am posting this question for a friend of mine . Does LIC offer any pure term life insurance policy?. He is  26 years old , If he takes term insurance policy now , will the annual premium remain the same through out the policy duration .In case of Health insurance once we move to next age slab ,  premium increases.

LIC Plans Link : http://customer.onlinelic.in/individual_plans.htm

Regards,

Anil

12 replies on this article “Does LIC offer any pure term life insurance policy?”

  1. ashalanshu says:

    Dear Anil, thanks for the update.

    Thanks

    Ashal

  2. anil says:

    Hi Ashal,
    My friend opted for term insurance from sbilife, it has among the best claim settlement turn around time. Medical test are in progress.

  3. ashalanshu says:

    Dear Anil, no problem. Please make sure your friend does not fall into some trap to opt any other plan (combo product) at the very last time. 🙂

    Thanks

    Ashal

  4. anil says:

    Thanks Ashal for the clarification , most probably my friend will choose between SBI life and LIC.

  5. ashalanshu says:

    Dear Anil, once the policy is issued, the prem. ‘ll remain 19K for whole term of the policy.

    Thanks

    Ashal

  6. anil says:

    LIC has launched new term plans , details is available in their website.
    https://www.licindia.in/individual_plans.htm

    Premium rates for 1CR cover which used to cost 27K has been reduced to 19K.
    I have doubt , will the premium to be paid remain the same through the policy period ?.

  7. ashalanshu says:

    Dear Anil, let’s wait for new plans and their respective prem.

    Thanks

    Ashal

  8. anil says:

    @Kuntal
    Amulya Jeevan plan is no longer available.
    @Ashal
    Yes many plans have been discontinued . I had read some where the premium rates for new LIC polices will fall. Is this true ?. Also as per age if he pays says 20000 premium annually , will this premium amount remain the same through out the policy term ?.

  9. ashalanshu says:

    Dear Anil, from 1st Jan 2014, the old Term plans and many other plans from LIC are not available. The new plans as per new guidelines of IRDA ‘ll be launched one by one. Please wait for some time if you want to purchase only from LIC or purchase from any other insurer of your choice, if you do not want to wait.

    Thanks

    Ashal

  10. kuntal says:

    Hi Anil,
    LIC dooes offer pure term life insurance-
    for sum insured25 lakh- AMULYA JEEVAN
    Thanks,
    Kuntal.

    1. kuntal says:

      Hi Anil,
      Looks like my earlier reply got partially deleted.
      LIC does offer pure term life insurance-
      for sum insured25 lakh- AMULYA JEEVAN
      Thanks,
      Kuntal.

      1. kuntal says:

        Same problem again.
        There are 2 term policies from LIC-
        for sum insured 25 lakh- AMULYA JEEVAN.

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