E-Term plan of Life Insurance Corporation of India (LIC) is a purely online term insurance product with no offline elements. This plan is specially designed for the online savvy customers who are always looking for the convenience of online transactions and need assurance as per their family lifestyle and budget. It is purely an online term plan with no paperwork involved which makes it simple and quick to purchase.
The following are the key features of LIC E-Term plan:
Guaranteed Maturity Benefit – LIC e-term plan provides the policy holder a guaranteed Maturity Benefit, equal to 10 times of the annualized premium (exception are cases when total premiums are lass than 10 years and accumulation period is greater than term).
Tax Benefits – Various tax benefits available to the policy holders based on the premiums paid and the benefit payable.
Premium Payment Options – Premium payment options include various monthly, quarterly, half-yearly, yearly payment options.
Death Benefit – Death Benefit is provided in case of the insured’s death during the policy term or survival to the end of policy term.
Additional Benefits – LIC e-term plan provides various options to increase the death benefits by opting for various riders.
Age Limit – This plan is available to be purchased by customers in the age bracket of 18 years to 65 years.
By opting for an e-term plan, an individual not only gets to enjoy the above benefits but also enjoys the convenience of online purchasing and renewing along with the assurance of financial security.
For more information, please refer to the following link: https://www.licindia.in/Home/Plans/E-Term-Insurance-Plan