Robinhood Insurance Broker Private Limited

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Launch Date Table No. UIN Status
19/2/2014 825 512N288V01 Active

About the e-term Plan

The LIC e-Term Plan is a term plan that provides comparatively very high cover for low premiums. This plan can only be bought online. The premium payment mode for this plan is restricted to annual payments. It works as an ideal income replacement in case the policyholder meets an untimely demise.

Let’s understand this plan in brief before getting into its details:

Modes of Payment Annual
Claim Settlement Ratio of the Insurer 98.31%
USPs of the Policy
  • Comparatively very high death cover payable to the family
  • Cover can be used to clear all financial liabilities like housing loans, personal loans, and so on
  • Term plans provide death cover at lowest possible premiums
Illustration Policyholder’s age: 40 years
Premium: Rs 6500/yearly
Premium paying term: 10 years
Policy term: 10 years
Death benefit: Rs 25 lakhs

How does this plan work?

An individual chooses the policy term according to his needs. Minimum available policy term is 10 years and maximum policy term is for 35 years.

If the individual meets an untimely demise during the term he has selected, the individual’s nominee receives the death cover. Note that if death occurs after the policy term ends, no benefits are payable to the nominee. Further note that if the policyholder survives the term of the policy, no pay-outs are payable to him.

Consider this illustration for a 40 year old person

Person’s age: 40
Sum assured: Rs. 25 lac
Premium Paying Term: 10 years
Policy term: 10 years

40 year old smoking individual pays premium for 10 years with a sum assurance of INR 25 lac. Since he smokes, he has to pay a higher premium of approximately Rs. 6500/- yearly as compared to a non-smoker. If in-case of his sudden death, during the policy term his nominee gets the sum assured of Rs. 25 lac. If he survives till the policy term, he or his family doesn’t receive any maturity or survival benefit.

Why should you buy e-term plan?

In addition to the features mentioned earlier, here are some more:

  • The plan is easily purchasable online 
  • The LIC e-Term plan provides monetary protection to your family/nominee after your death
  • This plan acts as a cover for any financial liabilities like housing loans, personal loans, etc.


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Who should buy e-term plan?

  • Minimum Sum Assured : Rs. 25,00,000 for Aggregate category and Rs. 50,00,000 for Non-smoker category
  • Maximum Sum Assured : No limit (The Sum Assured shall be in multiples of Rs. 1, 00,000/-)
  • Minimum and Maximum age at entry : 18 years (completed) to 60 years (nearest birthday)
  • Maximum cover ceasing age : 75 years (nearest birthday)
  • Minimum and Maximum policy term : 10 to 35 years
  • A sole bread winner who is looking out to provide monetary protection to the family against risk
  • Individuals who have taken loans and want a cover for it
  • Since e-term is a low premium risk cover, an individual can choose other several investment schemes to grow his income.

Company Overview

Life Insurance Corporation is a government owned insurance and Investment Company with its headquarters in Mumbai. LIC offers a wide range of products such as term plans, pension plans, group schemes and unit-linked plans. With a huge presence in overall Indian markets, unmatched distribution network, strong brand value and a wide range of products, LIC is the largest public insurance company in India.


OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.


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Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.