LIC E Term

LIC E Term Plan

LIC’s e-Term policy is a pure life cover term insurance policy that can be purchased online. The premiums need to be paid regularly (every year) and this is a non-participating (without bonus) plan. Under the LIC’s e-Term policy, the insurance company agrees to pay the policyholder’s beneficiaries (dependent family member/s) an agreed amount (sum assured) in event of his/her death during the policy term. However, if the insured survives till the end of the policy term, nothing is payable. Premiums paid under the plan are eligible for tax benefits and the benefits paid to the nominee/family are tax-free.

inflation-shield-overview icon
Pure Term insurance plan
second-opinion-overview icon
Differential premium rates
unlimited-e-consultations-overview icon
Available through Online mode only
Compare this plan with other Term Plans
By clicking “Show Premiums”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

Pure Term insurance plan
Differential premium rates for Smoker/Non-Smoker lives
Available through Online mode only (
Proposal on own life ONLY will be considered


Death Benefit

In case of unfortunate death of the Life Assured during the policy term then Sum Assured shall be payable to his/her nominee (dependent family member).

Maturity Benefit

f the policyholder survives till the end of the policy term, no amount shall be payable to him or his family members. Pure term plans do pay anything on maturity and hence are able to offer such low premiums.

Income Tax Benefit

Life Insurance premiums paid up to Rs.1,50,000 every year are allowed as a deduction from the taxable income each year under section 80C. Death Benefit amount paid to the nominee is also tax-free under section 10(10D).


There are no riders are available in LIC e-Term insurance plan.


  Minimum Maximum
Sum Assured (in Rs.) 25,00,000
50,00,000 for the Non-Smoker category
No Limit
Policy Term (in years) 10 35
Premium Payment Term (in years) Equal to the policy term
Entry Age of Policyholder 18 60
Age at Maturity - 75
Payment modes Yearly


angle down iconWhat happens if?
If you stop paying the premium Policy lapses and all benefits cease
Revival of Policy Allowed if done within 2 years from the due date of the first unpaid premium instalment
Surrender Policy Not allowed
Surrender Benefits -
Loan Not Available in this plan
Grace period 30 days from the premium due date
angle down iconWill my premium amount change during the tenure of the policy after I have bought the plan?

Once the policy is issued, Premium will remain the same for the entire tenure of the policy. This is subject to service tax regulations as declared by the Government of India.

angle down iconCan the Nominee be a Minor?

Yes, a Nominee can be a Minor. However, an Appointee (major) has to be provided for the Minor Nominee.

angle down iconWhat does my nominee receive after my death?

If death takes place during the term of the insurance policy, then the nominee receives the sum assured under the plan

angle down iconHow can I pay the subsequent premium

The subsequent premium can be paid online either through net-banking/credit card/Debit card.

angle down iconWill I have to undergo a medical test?

The requirement for a medical test may or may not arise depending on the underwriting requirements and your health disclosures. Your medical tests will be short and basic (some examples are: blood test, urine test etc.) and rest will depend on your health status which will be communicated to you by our office.

angle down iconWhen will my life insurance cover begin?

Your coverage will begin only on acceptance of your proposal form.

angle down iconIf 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.

angle down iconWhere can I contact / write to know the status of my application?

You can write to or call the LIC toll free number 1800-22-7717