LIC's e-term plan is a non-participating, pure term plan that provides protection to the nominees/family members of the life insured in the event of his/her untimely death. Since the plan is a pure term plan, no benefits are payable in case the life insured outlives the policy period.
Features and benefits
- It is a pure term plan covering the life of the insured person against unfortunate demise.
- No other but only life to be insured can propose oneself for the policy.
- The plan is available exclusively on lic's online portal.
- While the minimum sum assured is Rs 50,00,000 in case of a non-smoker, the same is Rs 25,00,000 in case of a smoker. However, there's no ceiling on the maximum sum assured amount in both the cases.
- While the minimum policy term is 10 years, the maximum is 35 years.
- Maximum maturity age for the plan is 75 years
- Premiums under this plan are paid annually.
Eligibility
- The individual has to be an indian citizen to be eligible for the plan.
- The individual must fall within the age bracket of 18 to 60 years.