Is LIC Term Insurance Calculator free to use?

Yes, the LIC Term Insurance Calculator is completely free to use and does not require any payment.

Are the premiums shown by the LIC calculator final?

No, the premiums shown by the LIC Term Insurance Calculator are indicative. Final premiums may change after document verification and medical tests.

Which LIC term plans are covered in the calculator?

The calculator generally covers popular LIC term plans such as LIC Tech Term Plan and LIC Jeevan Amar.

Does smoking affect LIC term insurance premium?

Yes, smokers usually pay a higher premium compared to non-smokers due to increased health risk.

Can I calculate LIC term insurance premium for 1 crore coverage?

Yes, you can calculate the premium for ₹1 crore or even higher coverage using the LIC Term Insurance Calculator.

Is medical test mandatory for LIC term insurance?

Medical tests are usually mandatory for higher sum assured policies or based on age and health conditions.

Can women use LIC Term Insurance Calculator?

Yes, women can use the LIC Term Insurance Calculator to estimate their premium.

Does premium payment mode affect LIC term insurance premium?

Yes, premium payment modes such as monthly, half-yearly, or yearly can slightly affect the total premium amount.

Is LIC term insurance premium fixed?

Yes, once the policy is issued, the LIC term insurance premium remains fixed throughout the policy term.

Can I buy LIC term insurance after using the calculator?

Yes, after calculating the premium, you can proceed to purchase LIC term insurance online or through an authorized agent.

Is LIC Term Insurance Calculator available on mobile?

Yes, the LIC Term Insurance Calculator is mobile responsive and can be used on smartphones and tablets.

Does LIC term insurance provide tax benefits?

Yes, LIC term insurance premiums are eligible for tax deduction under Section 80C and death benefits are tax-free under Section 10(10D), subject to conditions.

What is the ideal policy term for LIC term insurance?

The ideal policy term should generally cover you until your retirement age or until your major financial responsibilities end.

Is LIC term insurance better than private insurers?

LIC term insurance is preferred by many due to government backing, high trust, and strong claim settlement record, though private insurers may offer additional features.

LIC Term Insurance Calculator: How to Calculate Premium Online

Q: What is LIC Term Insurance Calculator?

LIC Term Insurance Calculator is an online tool that helps you estimate the premium for LIC term insurance plans based on age, income, sum assured, and policy term.

Learn how to use the LIC Term Insurance Calculator to calculate premium online. Step-by-step guide, premium tables, eligibility, comparison, FAQs & expert tips for choosing the right LIC term plan.

LIC Term Insurance Calculator

Table of Contents

Ramesh, a 29-year-old IT professional, had recently become a father. While reviewing his monthly expenses, one thought kept troubling him —
“If something happens to me, will my family be financially secure?”

Like millions of Indians, he trusted LIC but was unsure about the right coverage amount and premium. Instead of guessing, he used the
LIC Term Insurance Calculator — and within minutes, he knew exactly how much coverage he needed and what premium he could afford.

The LIC Term Insurance Calculator helps you calculate your term insurance premium online based on age, income, policy term, and sum assured.
It removes confusion, prevents underinsurance, and empowers you to make informed financial decisions.

In this detailed guide, you will learn how to calculate LIC term insurance premium online, understand premium tables, eligibility,
comparisons, mistakes to avoid, and real-life use cases — all explained in simple language.

What Is LIC Term Insurance Calculator?

The LIC Term Insurance Calculator is an online tool that estimates the premium payable for LIC term insurance policies such as
LIC Tech Term Plan and LIC Jeevan Amar.

By entering basic personal and policy details, you can instantly get an approximate premium amount without paperwork or agent dependency.

Why Use LIC Term Insurance Calculator Online?

Instant premium estimation
No manual calculations required
Helps choose correct sum assured
Easy plan comparison
Prevents mis-selling

Quick Overview: LIC Term Insurance Calculator

Feature	Details
Purpose	Calculate LIC term insurance premium
Mode	Online
Plans Covered	LIC Tech Term, LIC Jeevan Amar
Inputs Required	Age, income, sum assured, policy term
Output	Estimated premium
Cost	Free

How to Calculate LIC Term Insurance Premium Online

Step 1: Visit Calculator Page

Go to the official LIC website or trusted finance platforms like
FinBankingTech.

Step 2: Enter Personal Details

Age
Gender
Smoking status
Annual income

Step 3: Choose Policy Details

Sum assured (₹50 lakh / ₹1 crore / ₹2 crore)
Policy term (20–40 years)

Step 4: Select Premium Payment Mode

Monthly / Half-Yearly / Yearly

Step 5: View Estimated Premium

The calculator instantly displays the premium.

LIC Term Insurance Premium Calculator Table (Sample)

Age	Sum Assured	Policy Term	Estimated Annual Premium
25	₹1 Crore	30 Years	₹7,000 – ₹8,500
30	₹1 Crore	30 Years	₹9,000 – ₹11,000
35	₹1 Crore	25 Years	₹13,000 – ₹16,000
40	₹1 Crore	20 Years	₹18,000 – ₹22,000

Note: Premiums may vary based on health conditions and smoking status.

Eligibility Criteria for LIC Term Insurance

Criteria	Requirement
Minimum Age	18 years
Maximum Age	Up to 65 years (plan specific)
Citizenship	Indian Resident
Income Proof	Mandatory
Medical Test	Required for high coverage

LIC Term Insurance vs Private Term Plans

Feature	LIC Term Plan	Private Insurers
Trust	Very High	Medium
Government Backing	Yes	No
Premium	Competitive	Sometimes Lower
Claim Settlement	Strong	Varies

Important Links

Official Website: https://finbankingtech.com
Telegram Channel: https://t.me/FinbankingTech
WhatsApp Support: 7905455959

FAQs – LIC Term Insurance Calculator

Q1. Is LIC term insurance calculator free?
Yes, it is completely free.

Q2. Are calculator premiums final?
No, they are approximate.

Q3. Can I calculate premium without an agent?
Yes.

Q4. Which LIC plan gives lowest premium?
LIC Tech Term Plan.

Q5. Does smoking affect premium?
Yes, smokers pay higher premiums.

Q6. Can I calculate for ₹2 crore cover?
Yes.

Q7. Is medical test mandatory?
For high coverage, yes.

Q8. Can women use the calculator?
Yes.

Q9. Does payment mode change premium?
Yes.

Q10. Can premium increase later?
No, it is fixed.

Q11. Is calculator available on mobile?
Yes, mobile responsive.

Q12. Can NRIs use it?
Some plans allow NRIs.

Q13. Does calculator include GST?
Usually yes.

Q14. Is LIC claim settlement reliable?
Yes.

Q15. Can I compare two plans?
Yes.

Q16. Is online LIC plan cheaper?
Mostly yes.

Q17. What is ideal policy term?
Till retirement age.

Q18. Can I change sum assured later?
No.

Q19. Is LIC term plan taxable?
Premium eligible under 80C.

Q20. Should I consult advisor after calculator?
Yes, recommended.

Quick Summary Table

Aspect	Details
Tool	LIC Term Insurance Calculator
Use	Estimate premium
Accuracy	Approximate
Best For	Financial planning
Recommendation	Always verify before purchase

Disclaimer

This content is for informational purposes only.
We are not an official representative of LIC. Insurance decisions should be made after reviewing official documents
and consulting licensed advisors.