licindia.in Online LIC e-Term Plan Process Eligibility Features Life Insurance Corporation of India

  
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    The Life Insurance Corporation of India (LIC) has launched an online buy term Insurance. For all those clients who are flexible in using computer with internet connection and have knowledge of online buying, then this will be easiest to them. Others can also do the same with the help of their knowledgeable person as it very secure, simple and quick way. Many of the customers was waiting of online term insurance from the long time and finally the wait is over and they can buy online term plan. The customer just need to fill the details online and do the payment by net banking. The LIC’S online policy is reasonable than the offline mode.

    LIC e-Term is the name of online term Insurance. Here, I am providing you some salient features of Life Insurance Corporation of India LIC online term plan.

    Salient Features of LIC e-Term Plan:

    1) LIC e-Term Plan is Online buying plan without helping of any mediator. Here the customer have to give their details online and calculate your premium and then after paying the premium, you can buy the policy. While in Offline mode, you need to become visible for medical examination.


    2) There are 2 categories in this plan. One is Aggregate category which is apply on those who choose the sum assured between 25.oo lakhs – 49.00 lakhs, whether you are smoker or non- smoker.

    3) Second category is non-smoker, if you are choosing sum assured more than Rs. 50.00 lakhs you have option to choose whether you are smoker or non smoker. If you are smoker then aggregate category only. But if non smoker then you need to mention it and accordingly premium will vary.

    4) Proposal on own life will only be measured. You can’t propose for your wife’s life.

    5) Death benefit will be equal to Sum Assured opted.

    6) There is no maturity benefit is available under this plan.

    7) The other conditions and limits are:
    i. Minimum Sum Assured for Aggregate category is Rs.25.00 lacs and for Non-smoker category, its is Rs. 50.00 lacs.
    ii. There is no limit for maximum sum assured.
    iii. Minimum age at entry is eighteen (18) years
    iv. Maximum age at entry s sixty (60) years
    v. Maximum cover ceasing age is 75 years
    vi. Minimum Policy Term is ten (10) years
    vii. Maximum Policy Term is thirty five (35) years.

    8) The customer can pay premium only on annual basis

    9) The Grace period of 30 days will be available for customer for premium payment. If the customer is not satisfied with the terms & conditions of the policy, he/she can return the policy within the 30 days from the date of receipt of policy giving the reason of return. The corporation cancel the policy and return the submitted premium after subtracting the risk premium, stamp duty charge,etc.

    10) If you going to buy this policy, then you have to disclose all the existing policies
    LIC e-Term – Cheaper:

    The LIC online term plan premium is low- priced than the offline term plan. Around 20-30% online term plan is low in price than the offline mode.

    Element provided by the customer for taking LIC online term insurance:
    When any customer going to purchase the online term policy from Life Insurance Corporation of India, then he/she has to give some information which are as follows:

    A. You have to give the details of your occupation and Educational qualification
    B. Provide your PAN number
    C. Your Income Details ( Form 16 / ITR for last three Years or P&L Account)
    D. You have to give the details of all your previous life insurance policies (like policy number, sum assured, plan etc) taken in last 3 years.
    E. Details of family members like age, state of health, age and cause of death (if applicable)
    F. Details of your medical history including illnesses, injuries and any medication.
    G. Bank details like Account number, MICR code etc. are also required to provide by the customer.

    Is this Plan is also available for NRI’s:

    If the NRI’s present in India for Medical examination, then yes, they are also eligible to purchase the term plan from LIC.

    What is the Process to buy the Plan online :

    1. First go to the website of LIC India http://www.licindia.in/ and then click the image of LIC e-Term or link http://e2e.licindia.in:8080/onlinePlansIndex/login.do and click on the box Buy online.

    2. The next page will open, if you come first time and if you are a new customer then click on ‘New Customer’ then click on I am an Indian citizen and residing in India and click on Confirm and Proceed

    3. Now after proceeding, you have to calculate your premium and have to give your contact details and after that it will send you access ID on your email ID which will later use in the Access ID.

    4. Click on Resume Application and write Access ID.

    5. Calculate your premium and enter the details like sum assured, date of birth, Terms and whether you are smoker or not.

    6. Fill contact details and then fill your basic information. Fill name, father/mother name, qualification, age proof, Place of Birth etc. and click on Next button

    7. Here you have to provide your address for communication and Permanent Address. Then next

    8. Then provide your Identity. Fill Residential status, Present Place of residence, address proof, identification proof, Income Tax Assessee , PAN no.

    9. Then in next page fill your employment details like Occupation, Name of present employer, year of service, annual income, source of income, etc.

    10. In next page fill details on your life style.

    11. In next page, fill Nominee details (fill nominee is minor) then save and continue

    12. Fill the detail of Insurance History, now fill your Health information

    13. Fill you Bank Details and then fill the Declaration form, press on confirm and proceed.

    14. Now the proposal form is generated successfully and view it on PDF format.

    15. Then make the payment through net banking, credit card and debit card. Then you will see the proposal form with the details given by you save it
    and take a print out of it.

    For additional details about LIC e-Term plan, contact online_dmkt@licindia.com or call to toll free number 1800-22-7717.
     
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