Lic’s e-Term is a financial policy which is very useful for our family when in our absence. Lic has
launched a new plan in online which is called as LIC Term plan. We can join in this plan through
online without any help of agent or advisor. This plan will be like a regular plan once it after it is
issued. There is no assurance on our life, that we will be behind our family and loved one forever.
This is the best plan to prepare and make our family and loved ones to be cared and can be taken
out of their financial problem.
Certain requirements need to be followed in order to get into this plan.
- The applicant must be an Indian citizen who must get an income by this own.
- The person who want to be participate they should be of at least 18 years and maximum of
- And the participant must be willing to take the plan for a minimum 10 years of period.
- After entering into this plan the premium needs to be pain annually there is no quarterly or
semi paying of premiums in this policy. The minimum assured sum will be different for
smokers and non-smokers.
- Under this policy, the holder will not get any loans
Like other plans and policies, there will also be a requirements and eligibility for this plan. The
interested person should also have the documents for the proofs like, age identity, birth etc. and the
documents should be of Aadhaar, PAN Passport or License, Passport electricity or gas bill, income
statement and medical certificate for knowing the person is smoker or non-smoker as there will be
the different policies for both the people. The benefits are as Death Benefit which will be providing
the sum of assured money after the death of the insured person; this will be paid to the person who
is registered as nominee. As this is a pure term policy the maturity Benefit will not be provided.
Regarding Income tax benefits, life insurance will be paid up to 1, 50,000 every year and allowed as
deduction from taxable income under 80C section.