What is the benefit of LIC Tech term plan?
LIC Tech Term Plan (UIN - 512N351V01) is a pure life cover policy available only. Under this policy, upon payment of regular premiums, LIC will pay an amount equal to the sum assured to the beneficiaries in the event of the unfortunate death of the life insured.
What is difference between LIC Tech term and Jeevan Amar?
Both the Jeevan Amar plan and tech term plans provide the same benefits for you. The only difference is the sum assured amount which is high in LIC's term tech plan. If you want to buy a plan with a sum assured amount of more than 25 lakhs, you can select the term tech plan.
What is Option 1 in LIC Tech term plan?
You have two options for receiving death benefits: Option 1: Maintaining the same sum assured; Option 2: Increasing the sum assured. This plan does not offer any maturity advantages. The insured has the choice of paying a regular premium, a limited premium, or a single premium on an annual or half-yearly basis.