licindia.in LIC’s E-Term Policy : Life Insurance Corporation

Name of the organisation : Life Insurance Corporation of India
Type Of Facility : LIC’s E-Term Policy

Home Page :http://www.licindia.in/
Buy Online here :http://e2e.licindia.in:8080/onlinePlansIndex/login.do

LIC’s E-Term Policy :

LIC’s e-Term is a regular premium non-participating “on-line term assurance policy” which provides financial protection to the insured’s family in case of his/her unfortunate demise.

Related : LIC Policy Status : www.statusin.in/2515.html

This plan will be available through on-line application process only and no intermediaries will be involved.
Term insurance policies are best suited for working individuals who have dependents (Children, parents) and are looking for a considerable sum of protection against uncertainties of life (death) at fairly low prices.

Key Features :
** Available through Online mode
** Pure Term plan
** Differential premium rates for Smoker/Non-Smoker lives
** Proposal on own life ONLY will be considered

Key Benefits :
** Death Benefit In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.
** Maturity Benefit On survival to the end of the policy term, nothing shall be payable.
** 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
** Mode of payment Premiums are to be paid annually.
Minimum Sum Assured Rs. 25,00,000 for Aggregate category Rs. 50,00,000 for Non-smoker category

Eligible life :
** The person should be Resident Indian residing in India.
** He should NOT BE Non-Resident Indian(NRI), Overseas Citizen of India(OCI)or Person of Indian Origin(PIO).
** He/she must have own earned income.
** One cannot propose for anyone other than self. Key Man Insurance (KMI)/ Partnership/ Employer-Employee Cover will not be allowed

Qualifying criteria of LIC’s e-term plan :
** The person should be Resident Indian residing in India.
** He should NOT BE Non-Resident Indian(NRI), Overseas Citizen of India(OCI) or Person of Indian Origin(PIO).
** Minimum entry age : 18 years (Completed).
** Maximum entry age : 60 years (Nearest Birthday)
** Maximum cover ceasing age : 75 years (Nearest Birthday)
** He/she must have own earned income.
** One cannot propose for anyone other than self.
** One should have annual income around 3 lacs to purchase under Non-smoker rate. Income should be sufficient to cover all existing and proposed insurance cover under all insurers.