LIC E-Term Plan – Features and Benefits

LIC E-Term Plan-Features, and Benefits

it is a government-owned insurance company there is more than 300+ company that provides insurance in India,
there are various plans under LIC but today we will be purely focusing on one of the plans “LIC E-Term Plan”.
we will focus on LIC E-Term Plan-Features and Benefits in detail.

LIC is one of the most trusted insurance companies in India, providing trust to people since 1956.
There is various policies plan in Life insurance Corporation, but very few that provide the online facility.
today we are focusing on a specific plan named the e-term plan.

The LIC e-term plan was launched in the year 2019, being one of the first of its kind,
it is an online scheme release by licindia for the convenience of the public.
the plan has various benefits let’s look into it

Features of LIC e-term plan:

  • First thing this plan is only available online
  • Two  different categories:
    Aggregate and Non- Aggregate.
  • The death benefit is equivalent to the sum of assured opted.
  • There is no Maturity Benefit under this plan.
  • The Minimum eligibility Age to enter into this plan is 18 years.
  • The maximum age should not be exceeding above 60 years.
  • Coverage of the policy is up to 75 years.
  • Minimum policy terms are for ten (10) years.
  • And the Maximum term of the policy is up to 35 years.
  • The plan is available in both Lumpsum and premium Methods.
  • Only one 1 premium per year.
  • Under this plan, a grace period of 30 days is provided to the customer.
  • You make the premium payment through various online modes debit card, credit card
    and net banking s per your convience.
  • The customer needs to disclose all the existing policies while buying this policy.
  • There is a compulsory medical test Required for opting for this policy plan.


As we have mentioned there are two different categories under this policy,
let’s understand the policy one by one. This plan of LIC made for both the people smoker and Non-smoker,
however, there are certain differences as follows

Aggregate :

wherein, this plan remains the same to both Smokers and non-Smokers,
the maximum sum assured is up to forty-nine lakh, 49,00,000. rupees
and the minimum sum assured is up to 25,00,000 twenty lakh rupees.
if you are a smoker.


This plan plays a major role on the part of this plan, wherein, a non-Smoker can not apply for this plan,
and the sum assured is different from Aggregate, well, in this plan there is no limit on maximum
the sum assured starting with 50,00,000 Fifty lakh rupees.
The minimum sum assured under this plan is 50,00,000.
However, there is variation in the premium amount which is being paid to the company,
if you want to opt for a Non-Aggregate you have to mention it in the application form to analyze and
evaluate the premium price depending upon your policy.

Benefits of LIC E-Term Plan:

  • First, the policy is Flexible as the policyholder can choose the tenure from a minimum of 10 years to
    maximum up to 35 years.
  • Secondly, up to the maximum of 49,00,000 forty lakh Rupee and the no maximum limit for non-smokers
  • The covers the tenure of up to the age of 75 Years
  • Finally, the Policyholder gets a rebate on the premium paid the LIC under the income tax section 80C and Section 10(10D)
    as per the Income-tax Act of 1961.



In summary, As we have covered “LIC E-Term Plan-Features, and Benefits”, now you the features and benefits,
however, the plan has few drawbacks as well, like no maturity coverage as the plan is a term insurance plan,
there is no maturity claim in this plan, in case of the death of the policyholder the nominee will be paid the sum assured,
and the plan does not cover accidental death benefits as well, there are various other plans that provided better benefits,
then this plan that should be taken into consideration before buying this plan, you compare the plans in policy

[ Read More: LIC Bima Jyoti Plan No 860 – Features, Benefits, and Eligibility ]


[ Read More: How To Apply For Insurance Ombudsman ]

Leave a Comment