Pure Risk Cover Model 2026

LIC Term Insurance Calculator

Model your custom term protection plan instantly. Estimate premium quotes for LIC Tech Term (Plan 854) and Jeevan Amar (Plan 855) including smoker discounts and rider options.

Smoker & Gender Actuarial Premium Discounts

Regular, Limited (Term-5, Term-10) & Single Pay Modeling

Optional Accidental Death Benefit Rider Quote Generator

Year-by-Year Cumulative Protection & Premium Tables

LIC Term Insurance Premium Calculator

Compute premiums for Tech Term (Plan 854) & Jeevan Amar (Plan 855) dynamically.

Entry Age (Years)18 - 65 yrs

Sum Assured (Life Cover)Min ₹50 Lakhs

Gender

Nicotine / Smoking Status

Policy Term (Coverage Years)10 - 40 Years

Premium Payment Term Mode

Health Profile

Accidental Death Benefit (ADB) RiderOptional

Adds equivalent accidental cover (up to ₹1 Crore) for ₹0.80 per ₹1K SA.

LIC Term Insurance Plans: Technical Specifications, Actuarial Slabs, & Tax Protections

Term insurance is the foundation of any robust financial blueprint. By paying a small annual fee, you secure a massive financial shield for your dependents, ensuring their standard of living remains unimpaired in your absence. LIC of India offers two flagship pure protection plans: LIC Tech Term (Plan 854) and LIC Jeevan Amar (Plan 855).

Parameter	LIC Tech Term (Plan 854)	LIC Jeevan Amar (Plan 855)
Purchase Mode	Exclusively Online (via LIC website)	Offline (via Registered Agents or Branches)
Minimum Sum Assured	₹50,000,000 (₹50 Lakhs)	₹2,500,000 (₹25 Lakhs)
Pricing / Premium	~15% to 20% Cheaper (no agent commissions)	Standard commission-inclusive agent rates
Entry Age Bracket	18 to 65 Years	18 to 65 Years
Maximum Cover Age	80 Years	80 Years
Medical Examination	Mandatory (Video medicals / physical reports)	Mandatory (Standard physical check-ups)

Underwriting Slabs: Nicotine Status & Gender Rebates

LIC rewards low-risk habits. Your smoking status and gender play a massive role in determining your final premium rates:

Nicotine / Cotinine Test Slabs

Non-Smoker Slabs: Individuals who undergo a Urine Cotinine test showing negative nicotine traces get up to **50% cheaper rates** compared to smokers.
Smoker Slabs: Individuals consuming cigarettes, bidis, gutkha, nicotine patches, or vapes must declare as smokers, which triggers a premium surcharge to cover risk.

Female Premium Rebates

Actuarial statistics prove that female lives have higher life expectancies.
LIC offers a flat **10% to 15% discount** on base premium rates for female policyholders.
For instance, a 30-year-old female non-smoker gets the absolute lowest premium rate possible in Indian insurance.

Understanding Premium Payment Terms (PPT)

When setting up your term insurance using the calculator, choosing the right premium payment term (PPT) is crucial. LIC allows three configurations:

Regular Premium Pay

You pay premiums every single year of the policy term. If your policy term is 30 years, you pay for 30 years. This keeps the yearly cash outflow to the absolute minimum, although the total cumulative premium paid over the entire tenure is higher.

Limited Premium Pay (Term - 5 or Term - 10)

You pay premiums for a shorter duration than the policy coverage. For example, under a 30-year policy, choosing "Term - 10" means you pay premiums for only 20 years, but your life cover continues for the full 30 years. This is ideal if you want to complete your premium commitments before retirement.

Single Premium Pay

You pay a single lump-sum premium once at the start of the policy. The life cover remains active for the entire term (e.g. 20 years) with zero future liability. This is highly suitable for self-employed professionals with fluctuating business cash flows.

Accidental Death Benefit (ADB) Rider & Tax Shield

Double Payout via ADB Rider

By adding the Accidental Death Benefit Rider, the nominee receives **double the sum assured** (Base Sum Assured + Rider Sum Assured) if the death of the policyholder occurs due to an accident. The rider cover is capped at the base policy Sum Assured or ₹1 Crore (whichever is lower).

Full Tax Shield Under Income Tax

Under **Section 80C**, all premiums paid for pure life cover policies are eligible for tax deduction up to ₹1.5 Lakhs. Crucially, under **Section 10(10D)**, the entire death benefit received by the nominee is 100% tax-free, ensuring your family receives the entire claim without tax deductions.

Frequently Asked Questions (FAQs)

What happens if I declare as a non-smoker but test positive on cotinine?

If the urine cotinine test (nicotine trace test) comes back positive during the mandatory pre-policy medical check-up, LIC will reject the non-smoker rates. They will either offer you a revised premium quote (under smoker slabs) or reject the proposal altogether. Declaring status accurately avoids future claim denial under material misrepresentation clauses.

Does LIC term plan return premiums at maturity?

LIC Tech Term (854) and Jeevan Amar (855) are **pure protection plans** with zero maturity value. If you survive the term, no returns are paid. If you want a plan that refunds premiums at maturity, you must opt for a Return of Premium (TROP) plan or endowment plans. However, pure protection plans have substantially cheaper premiums (often 3-4x lower).

Is suicide covered under LIC Term Insurance?

Under standard terms, if the policyholder commits suicide within 12 months from the date of commencement of risk or date of revival, the policy is void. Nominees will only receive 80% of the premiums paid (excluding taxes and rider premiums), provided the policy is active. Full suicide claims are covered only after 1 full year of continuous policy coverage.

Can NRIs (Non-Resident Indians) buy LIC Tech Term online?

Yes, NRIs can purchase LIC online term insurance during their visits to India or from their resident country via mail-order business channels. However, additional underwriting checks, country-specific risk analysis, and medical assessments from licensed foreign physicians will apply.

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