LIC Term Insurance Calculator

LIC’s term insurance premium calculator is an online tool that helps its customers to calculate the premium that is payable for the term policy that they wish to purchase. The policyholders are required to enter their information such as age, income, gender, coverage, and policy tenure in the calculator and it uses the given information to calculate the premiums. The calculator is specifically designed to do complex calculations in minutes.

Benefits of LIC Term Insurance Premium Calculator

These are the benefits of the Term Insurance Premium Calculator provided by LIC:

Hassle-Free and easy to use. By submitting some basic details, the exact amount of the premium is calculated for a LIC term insurance plan.
Cost-effective as you can opt for additional benefits and the highest possible life cover amount that suits your requirements.
Compare various plan premiums, this will help you to determine which is the most suitable plan for you and for your loved ones.
Insurance holders will reach an accurate premium calculation by using the LIC term plan premium calculator without any room for error. When calculating premiums it is essential to reach as close to the actual premium estimation as possible in order to understand if the policy is feasible or not.
The premium calculation done by the LIC term insurance calculator will allow insurance holders to decide whether the insurance policy sum assured amount can be purchased or they need to re-evaluate their options.
There are no hidden charges of the premium when calculated via the LIC term plan calculator.

Why Do We Need LIC Term Insurance Premium Calculator?

LIC term insurance premium calculator plays an important role when an individual is trying to make a decision on which term insurance plan to buy. Here are a few pointers on why a premium calculator might help:

For Making Correct Estimation:
On entering the desired coverage amount, policy term, and age, LIC term insurance premium calculator delivers an accurate estimation that fits your budget.
It Saves Time:
LIC term plan premium calculator can quickly calculate the result, it saves time and effort and allows you to compare different policy options at a time.
They are Customizable:
LIC term plan calculator provides the policyholder the ability to customize the policy according to his/her specific requirements. This feature helps to decide between coverage and affordability.
Transparency:
The term insurance calculator displays the result with applicable taxes and charges, this will give the customer full information about the total cost of the policy.
Can Be Easily Accessed:
The calculator is available online so the policyholder can access it easily from anywhere and explore different policies sitting in their homes.
Financial Planning:
LIC term plan premium calculator helps the customer to understand the affordability of the policy and helps the customer to choose the best plan for themselves and can even assist in developing money-saving strategies.

Steps to use LIC Term Insurance Premium Calculator

The calculation of LIC Term Insurance plan premiums is simple and hassle-free with the online premium calculator available on the website.

Step 1: Visit LIC’s official website and go to the LIC Term Premium Calculator option.

Step 2: This will direct you to a page where you have to fill in your details such as gender, age, life cover, and cover-up to which age. Then click on ‘Calculate’.

Step 3: The quotation will be displayed within seconds after filling up the required details.

LIC Term Insurance Helpline Numbers

To avail instant customer service from the insurer we have provided below the official contact details:

Visit their official website https://licindia.in/home and click on the “How May I help you” section
Message LIC via WhatsApp for any kind of assistance - 8976862090
Call on Customer Care Number - 022- 6827-6827 for any queries

Things to Keep In Mind Before Using LIC term insurance premium calculator

When calculating term insurance premiums, it is essential to keep certain factors in mind:

Sum Assured Amount selected
As per your family’s future requirements such as the dependent child’s higher education, parents’ medical care, and providing your spouse with a financial safety net along with maintaining a steady lifestyle, it is essential to select an adequate amount of the sum assured before using the LIC term insurance calculator.
Age of Insured Individual
Before calculating term insurance premiums with the help of the LIC term plan calculator it is important to understand that the higher the age at the time of purchase of a term plan the higher will be the premium amount. With increasing age an individual becomes a liability on the insurer due to higher death risk due to health ailments.
Lifestyle Analysis
LIC term insurance premium calculator and other insurance calculators do consider the factor if an individual is a smoker or non-smoker when calculating the premium, hence it is essential to keep these details in mind and understand that premium costs are affected by the same.
Medical History of Individual and Family
LIC term insurance premium calculator calculates premiums for term insurance plans on the basis of details provided by the insured life. Family and individual medical history is an essential factor to consider by the insurer in order to decide on the eligibility of sum assured for its customers.
Low and High-Risk Occupation
The occupation of the insured individual is considered and is a field that must be filled in the LIC term insurance calculator in order to understand if the insured life has a high-risk occupation such as aviation, mining industry, or any other such occupation or a low-risk occupation. The premium rates are affected by the occupation of an individual.

Explore other LIC Term Insurance

LIC Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with LIC Term Insurance plans. Below is the list of term plans offered by LIC Term.

LIC Jeevan Amar

LIC Jeevan Amar plan is a non-linked, non-participating, without profit, offline pure protection term insurance plan. With several benefits, LIC Jeeva...

Unique Features

Rebate on High Sum Assured
Discounted Premium for Women
Add-on cover with Accident Benefit Rider

LIC Jeevan Amar (Pros)

Choose your policy term
Flexibility to choose from two benefit
Special rates for women

LIC Jeevan Amar (Cons)

No maturity benefits
No survival benefits
No policy loan

LIC Jeevan Amar (Other Benefits)

High sum assured rebate
Choose the riders of your choice
Attractive premium rates for non-smokers

LIC Jeevan Amar (Eligibility Criteria)

Entry age - 18 years
Max entry age - 65 years
Min sum assured - 25 lakhs
Max maturity age - 80 years
PPT - RP/SP/LP

LIC Tech Term Plan

LIC's Tech Term plan is a non-linked, non-participating online, pure risk premium plan, that provides financial protection to the insured's family in ...

Unique Features

Online Application
Rebate on High Sum Assured
Lower Premium for Women

LIC Tech Term Plan (Pros)

Choose from two benefit options
Opt for payment of benefit in installments
Special rates for women

LIC Tech Term Plan (Cons)

No maturity benefits
No survival benefits
No policy loan

LIC Tech Term Plan (Other Benefits)

High sum assured rebate
Choose your policy term
Enhance your protection with riders

LIC Tech Term Plan (Eligibility Criteria)

Entry age - 18 years
Max entry age - 65 years
Min sum assured - 50 lakhs
Max maturity age - 80 years
PPT - RP/SP/LP

Tired of Pushy Sales? Get Insurance, Your Way

LIC Term Plan Premium Calculator Online : FAQs

1. What information is required to calculate LIC Term Insurance Premium Calculation?

The information required to calculate LIC Term Insurance Premiums is the date of birth, life cover and sum assured.

2. Where we can find the LIC Term Plan Calculator?

We can find LIC Term Plan Calculator on their official website.

3. Do we required to pay the insurer to calculate the Term Insurance Premium ?

No, we are not required to pay the insurer to calculate the Term Insurance Premium.

4. What are the premium payment options available with LIC Term Insurance Premium Calculator?

The premium payment frequency is flexible in the term plan provided by LIC. Individuals can select among various premium payment options such as Monthly, quarterly, half-yearly, and single premium according to their capability.

5. Does the LIC term insurance premium calculator consider the cost of GST when calculating premiums?

Yes, there are no hidden charges when calculating premiums via the LIC term insurance calculator. The premium calculated will include 18% GST as per the government-laid laws.

6. Does the LIC term insurance premium calculator calculate the discount too?

Yes, the calculator can give information about the discounts and add-on benefits of the plan

7. Does smoking affect the LIC term plan calculator results?

Yes, the smoking habit impacts the premium calculation. If the person is a smoker the outcome of the calculation will be a higher premium. A smoker has to pay a higher premium compared to a non-smoker individual.

8. Does the LIC term plan premium calculator generate trustworthy results?

Yes,the result of the calculation is totally trustworthy as the calculations are based on the data that the customer has entered.

9. Does the geographical location have any impact on the results of the lic term plan calculator?

No, geographical location will have no impact on the LIC term plan calculator.

Explore LIC Term Insurance

Term Insurance Companies

Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.

Term Insurance
Life Insurance