LIC Term Insurance Plan 854 Premium Calculator
Two benefits options level and increasing sum assured. Lower rates for non-smoker lives Special rates for women coverage until age of 80years .Accident benefit rider available ,during PPT under regular and limited premium policies. Option to pay premium as regular single or for limited period. Option to take death benefit in lump sum and for instalments.
Age limit for maximum or minimum
- Entry age 18 to 65 years
- Maximum maturity age -80years
- Minimum & maximum Basic sum assured Minimum – Rs.50 lakhs , maximum – No limit
- Policy term – 10 to 40 years
- Premium payment – single
- Regular limited (yearly / half yearly)
Death Benefit Option
Level sum assured – death benefit remain level through out the policy term. Death Benefit Option Level Sum Assured. Death benefit remain level through out the policy term.
Increasing sum assured
Death benefit remains level during first 5 policy years . Increases by 10% of BSA every year for the next 10year and then remains at that level for the remaining policy term.
Sum assured on death
Level sum assured vs increasing sum assured
- Rs.1crore to Rs.2crore
- Regular premium (PPT – Policy term)
- Limited premium (PPT – policy term -10)
- Single premium (PPT =1)
- Premium rate differentiation
| Category age band (LBD)and above | As a % tabular annual / single premium | RS.2croreand above |
| 30 years | 12% | 20% |
| 31-50 years | 10% | 5% |
| 51years | 15% | 7% |
Option -II increasing sum assured
| Category age band (LBD)and above | As a % tabular annual / single premium | RS.2croreand above |
| 30 years | 10% | 18% |
| 31-50 years | 8% | 13% |
| 51years | 4% | 6% |
Policy term -10years,PPT – 10 years
(Regular premium policy),Sum assured – Rs.1crore
Mode – yearly
Category –non –smoker
sum assured
| Age (LBD) | Male | Female |
| 20 | Rs.5,456 | Rs.5192 |
| 30 | Rs.6,248 | Rs.5,896 |
| 40 | Rs.10,260 | Rs.8460 |
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