LIC New Tech-Term Calculator / lic tech term premium calculator
LIC New Tech-Term Plan Premium Calculator: A Complete Guide to Your Insurance Journey
Are you planning to secure your family’s future with a reliable term insurance plan? The LIC New Tech-Term Plan (UIN: 512N333V01) is a fantastic choice offering pure risk coverage with flexible premium options. But how do you calculate
the premiums and benefits tailored to your needs? That’s where the LIC Tech Term Premium Calculator comes in! In this blog, we’ll dive deep into what this plan offers, how the LIC Tech Term Plan Premium Calculator works, and why it’s a must-have tool for anyone considering this policy. Let’s get started!
What is the LIC New Tech-Term Plan?
The LIC New Tech-Term Plan is a non-linked, non-participating term insurance policy designed to provide financial protection to your loved ones in case of an unfortunate event. Offered by the Life Insurance Corporation of India (LIC), this plan stands out with its simplicity and flexibility. Here’s what makes it special:
- Pure Risk Coverage: It focuses solely on life cover, ensuring a high sum assured at affordable premiums.
- Flexible Premium Modes: Choose between Single Premium, Regular Premium, or Limited Premium options.
- Death Benefit Options: Pick either a Level Sum Assured (fixed amount) or an Increasing Sum Assured (increases over time).
- Rider Option: Add an Accident Benefit Rider for extra protection.
- Online Accessibility: Buy it easily through LIC’s online portal, making it a modern, tech-savvy choice.
With the LIC Tech Term Policy Premium Calculator, you can estimate your premiums and benefits in just a few clicks, ensuring you make an informed decision.
Why Use the LIC Tech Term Premium Calculator?
Calculating premiums manually can be tricky, especially with a plan as versatile as this. The LIC Tech Term Plan Online Premium Calculator simplifies the process by offering:
- Accurate Estimates: Get precise premium amounts based on your age, sum assured, and policy term.
- Customized Results: See how different premium modes and death benefit options affect your costs and coverage.
- Time-Saving: No need to visit a branch or call an agent – do it all online!
- Detailed Insights: Beyond premiums, explore death benefits, surrender values, and more.
Whether you’re searching for the LIC of India Tech Term Plan Premium Calculator or the LIC e-Tech Term Plan Premium Calculator, this tool is your one-stop solution.
How to Use the LIC Tech Term Plan Premium Calculator
Using the Tech Term LIC Policy Premium Calculator is as easy as 1-2-3. Here’s a step-by-step guide to get you started:
- Visit the Calculator Page: Open the LIC Tech Term Insurance Plan Premium Calculator online (you can use our provided tool or LIC’s official website).
- Enter Basic Details:
- Sum Assured: Minimum ₹25,00,000 – choose your desired coverage.
- Age: Your current age (18-65 years).
- Policy Term: How long you want the coverage (10-40 years).
- Single Premium: One-time payment.
- Regular Premium: Pay every year for the full term.
- Limited Premium: Pay for a shorter period (e.g., 10 years) within the term.
- Level Sum Assured: Fixed coverage throughout.
- Increasing Sum Assured: Starts at your chosen amount and doubles over 15 years
- Accident Benefit Rider: Extra coverage for accidental death.
- Decide if you want the death benefit as a lump sum or in installments (monthly, quarterly, etc.).
The Premium Calculator for LIC Tech Term Plan instantly shows your annual premium, total cost, death benefit timeline, and more.
What You’ll See in the Output
The LIC Online Tech Term Plan Premium Calculator doesn’t just spit out a number – it gives you a treasure trove of information:
- Premium Breakdown:
- Base Premium: The core cost for your coverage.
- Rider Premium (if added): Extra cost for accident cover.
- Tax (18% GST): Added to the total.
- Total Annual Premium: What you’ll pay each year.
- Total Premiums Paid: Full cost over the term.
- Premium Breakdown:
- Death Benefit Insights:
- For Level Option: A fixed amount (e.g., ₹50 lakh).
- For Increasing Option: A year-wise table (e.g., Year 1: ₹50 lakh, Year 15: ₹1 crore) with a graph showing the growth.
- Installment Option: Monthly/quarterly amount and total payout over the chosen period.
- Death Benefit Insights:
- Surrender Value:
- If Regular or Limited Premium: Year-wise values (e.g., Year 1: ₹50,000, Year 5: ₹2,50,000) showing what you’d get if you surrender early.
- Surrender Value:
- Policy Timeline:
- Premium Due Dates: When you’ll need to pay.
- Maturity Date: When the policy ends.
- Policy Timeline:
- Tax Benefits:
- A note explaining eligibility under Section 80C (up to ₹1.5 lakh deduction) and tax-free death benefits under Section 10(10D).
- Tax Benefits:
This level of detail makes the LIC Tech Term UIN 512N333V01 Premium Calculator a powerful tool for planning.
Benefits of Using the LIC Tech Term Plan Premium Calculator
- Transparency: Know exactly what you’re paying for and what you’ll get.
- Flexibility: Experiment with different sum assured, terms, and options to find the perfect fit.
- Financial Planning: Understand the long-term cost and benefits to budget wisely.
- Comparison Made Easy: See how adding riders or changing premium modes impacts your policy.
The LIC Tech Term Plan Premium Calculator empowers you to take control of your insurance decisions without the guesswork.
Tips for Getting the Most Out of the Calculator
- Start with a Realistic Sum Assured: Aim for 10-15 times your annual income for adequate coverage.
- Test Different Terms: Try a 20-year term vs. a 30-year term to see cost differences.
- Explore Installments: If you prefer regular payouts for your family, check the installment option.
- Add Riders Wisely: Only opt for the Accident Benefit Rider if it fits your lifestyle (e.g., frequent travelers).
- Save Your Results: Take a screenshot or note down the output for future reference.
Why Choose LIC New Tech-Term Plan?
LIC is a trusted name in insurance, and the Tech Term Plan adds a modern twist:
- Affordable Premiums: High coverage at competitive rates.
- Online Convenience: Buy and manage it from home.
- Customizable: Tailor it to your needs with flexible options.
Using the LIC Tech Term Plan Online Premium Calculator, you can see how affordable and valuable this plan can be for you.
Conclusion
The LIC Tech Term Premium Calculator is more than just a tool – it’s your gateway to understanding one of LIC’s smartest term insurance offerings. Whether you’re a first-time buyer or reviewing your options, the LIC of India Tech Term Plan Premium Calculator gives you
all the insights you need in a simple, detailed format. From premiums to death benefits, surrender values to tax perks, it’s all at your fingertips.
Ready to secure your future? Try the LIC Tech Term Policy Premium Calculator today and take the first step toward peace of mind!
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