About:

LIC Tech term plan or LIC plan 854 is a term insurance plan from the Life Insurance Corporation of India. This is a pure term insurance that is available for purchase online and there are no agents involved. The tech term policy can be purchased by an individual between the age of 18 and 65. The term of the policy is 10 to 40 years. However, the maximum age limit is 80 years. The minimum sum assured on the tech term plan is Rs. 50 lakhs. The policyholder can opt for either a level sum assured or increasing sum assured. The LIC tech term plan has amongst the lowest premiums among LIC term insurance policies since this is an online policy. The premiums on the LIC term insurance can be paid through the single, regular, or limited method. Premiums are lower for non-smokers and women. An accidental rider is optional which provides an additional benefit in case of an accidental death. In case of death of the policy holder the sum assured amount is paid to the nominee in a lumpsum or through regular payouts.