Yes, term plan is available in LIC. A term insurance plan is designed to provide coverage for a specific period of time; this is why it is also known as a term assurance plan. LIC provides a variety of term insurance plans to suit the different insurance needs and requirements of customers.
Here are some of the term plans provided by LIC:
LIC e-Term Plan: This is an online term insurance plan that provides coverage up to Rs. 1 crore at an affordable premium rate. This plan also provides the option of covering critical illnesses along with death benefit.
LIC Amulya Jeevan II: This is a regular premium paying deferred term assurance plan. This plan provides a death benefit along with higher maturity benefit if the policyholder survives till the end of the term.
LIC Jeevan Pragati: This is an increasing term assurance plan where the sum assured increases every year as per a table given in the policy. This plan provides financial security to your dependents in the form of death benefit and also provides some savings incentives.
LIC Jeevan Labh: This is a limited pay traditional participating endowment plan that provides higher coverage and savings incentives. This plan provides death benefit and maturity benefit and also offers tax benefits under Section 80C.
These are some of the term plans offered by LIC. You can visit the LIC website to find out more about the different term insurance plans and their features. You can also compare different plans side-by-side and choose the one that best meets your requirements.
I hope this answer has helped you to know about the term plans offered by LIC.
