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LIC eTerm (825) Term Insurance Plan Premium Calculator

LIC eTerm (825) Term Insurance Plan Premium Calculator - LIC's E-Term Policy 825 is a regular premium plan policy. It provides a financial protection to insuredís family in case of unfortunate death of policy holder. Status of the policy will be available through online application process only and no mediators are involved in this policy.

LIC's E-Term Policy is a pure term insurance policy with less premium compared to other LIC policies. In this LIC E Term Policy 825 plan, there are two categories of premium rates namely (1) Aggregate lives & (2) Non-smoker lives.

According to LIC E-Term Policy 825 the application of Non-smoker rates shall be based on the findings of the Urinary Cotinine test and in all other cases the Aggregate premium rates shall be applicable.

 

Entry age:

  • Minimum Age – 18 years (completed)
  • Maximum Age – 60 years (Nearest birthday)

Policy Term:

  • Minimum-10 years
  • Maximum – 35 years

Minimum Sum assured:

  • Rs.25 lakhs (for Aggregate category)
  • Rs.50 lakhs (for Non-smoker category)

Maximum Sum assured: No limits for both categories

Maximum Coverage Age: 75 years (Nearest Birthday)

Premium Payment Mode: Yearly (Payment mode is through online only)

Tax Benefits: 12.36% of Service tax is applicable on premium.

Grace Period: If the Premium is not paid within the time then a delay of 30 days is extended to pay the premium amount which is grace period.

Cooling off period: If you are not satisfied with this policy term you may return the policy within 30 days from the date of receipt of the policy.

LIC eTerm (825) Term Insurance Plan Premium Calculator - Eligible Life:

  • The policyholder must be residing in India only.
  • The policyholder must have own earned income.
  • The Person should not be Non-Resident Indian (NRI), Overseas Citizen of India (OCI) or Person of Indian Origin (PIO).
  • One cannot propose for anyone other than self. Key Man Insurance (KMI)/ Partnership/ Employer-Employee
  • Cover will not be allowed.

Details needed while filling online application form.

  • PAN Number is must.
  • Form 16 or ITR of last three years is must.
  • Details of all your existing insurance (irrespective of insurance company)
  • Details of family members.
  • Details of medical history.
  • Details of Bank like Account number and MICR code etc.
  • e Term Access Id – Click on Proceed tab and which asks for 10 Digit Access ID. Provide the same and click on proceed.

LIC eTerm (825) Term Insurance Plan Premium Calculator - Additional Information

Aggregate lives: In this category you can buy a premium upto sum assured of 49 lakhs whether you are smoker or non smoker.
Non-Smoker lives: In Non-smoker Category the premium is less than aggregate category and if your sum assured is 50 lakhs and above then the policyholder comes under this category. No other Bonus is payable under this LIC E term policy no 825
Paid up value: No paid up value is provided Under this LIC E term plan 825
Surrender benefits: Under this LIC E term policy plan no 825 surrender benefits are zero
Loan Facility: In LIC E term policy plan no 825, Loan Facility is not available
Proposal of policy on your own life will only be considered.
Medical test:

  • Requirement of medical test will be based on types of categories.
  • LIC E term policy 825 cannot be purchased through any agent or LIC officer or any intermediate services.
  • Policy Revival:If the premium is not paid by you within the grace period then the policy will lapse. If you are interested to continue this policy then you can revive your policy on or before 2 years from date of first
  • Unpaid premium.

Suicide clause: If the policy holder commits suicide for any of the reasons within 12 months of date of commencement of policy, then 80% of premium for what he had paid will be returned to nominees or assignees.

Buying Procedure for LIC E Term Policy 825

  • LIC E term policy 825 is only through online procedure.
  • You must be a citizen of India while buying a plan and if required you need to undergo the health check up.
  • By visiting the homepage of LIC E term policy no 825 you can buy the policy or directly log on to http://e2e.licindia.in:8080/OnlineTerm/start.do#
  • After opening the page select the option of new user and mark on two options if you are residing in India, next click on confirm to continue and proceed.
  • Now fill the details of sum assured, date of birth and policy term to calculate your premium yearly and click on proceed to continue next step.
  • Fill your personal details and contact information. Please remember that this online purchase is set for some cities only. So, if you are not belonging to any of the cities mentioned in drop down then select city which is nearest to you.
  • Now, access ID will be generated which will be sent to your mobile number and email id.
  • Finally proceed for buying it through net-banking/credit card/debit card.

Claim Procedure For LIC E Term Policy 825:

  • NEFT form
  • Discharge form
  • Cancel check or Bank Pass book xerox
  • Policy bond
  • Death certificate

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