LIC New Tech-Term – Plan No. 954

Currently Available Term Insurance Plan UIN: 512N351V02

What Is LIC New Tech-Term?

LIC's New Tech-Term is a non-linked, non-participating pure term assurance plan sold primarily through online/digital channels, offering a high life cover at a comparatively low premium, with different premium rates for different sum assured bands and, on some variants, different rates for smokers/non-smokers where applicable.

Key Features

• Pure protection — no maturity benefit if the life assured survives the term
• High sum assured available relative to premium, especially at higher cover bands
• Choice of level cover or, where offered, increasing/decreasing cover options
• Option to add riders such as accidental death benefit, subject to current availability

Who May Consider This Plan

• Anyone prioritising maximum life cover for their family at the lowest possible premium
• Salaried professionals and self-employed individuals establishing a protection foundation before adding savings plans

Important Considerations

Term plans pay nothing on survival — this is by design, to keep premiums low. If you also want a savings/maturity component, this is usually better achieved by combining a term plan with a separate endowment or child plan rather than expecting one plan to do both efficiently.

Example Scenario

Illustrative only: A 30-year-old non-smoker choosing a large sum assured for a 30-year term would pay a level annual premium for pure protection, with no payout if they survive the term. Exact premiums vary by sum assured, term, health and lifestyle factors — request a quote for real figures.