LIC’s New Tech Term plan: The New Tech Term plan from LIC is a new insurance product that protects individuals and their families financially in the event of the policyholder’s death. This plan is designed specifically for tech workers and provides a variety of benefits tailored to their specific needs and circumstances.
Advantages of the LIC New Tech Term Plan
One of the most important aspects of this plan is the ability to customise the amount of coverage you want based on your income and financial obligations. For example, if you are a tech worker earning Rs. 50 lakh per year, you may choose to take out a policy that provides up to Rs. 50 lakh in coverage in the event of your death. This means that your family will receive this amount in the form of a lump sum payment, which can be used to cover expenses like outstanding loans, household bills, and other financial obligations.
This plan’s premiums are reasonable and are calculated based on your age, the amount of coverage you select, and the policy term. For example, if you are 30 years old and choose Rs. 50 lakh coverage for a policy term of 30 years, your annual premium may be around Rs. 4,000. This means you can get a substantial amount of coverage at a very low cost.
The New Tech Term plan offers a variety of additional benefits in addition to providing financial protection to your family in the event of your death. These include an accidental death benefit, which pays a lump sum if you die in an accident. A critical illness benefit is also available, which pays a lump sum if you are diagnosed with a specific critical illness, such as cancer or heart disease.
How to apply?
To apply for the New Tech Term plan, go to your nearest LIC branch or call their customer service line. To determine your eligibility for the plan, you will need to provide some personal and financial information as well as undergo a medical examination. Once your application has been accepted, you can start making premium payments, and your coverage will begin immediately.
Finally, LIC’s New Tech Term plan is a cost-effective and adaptable insurance product that provides financial security to tech workers and their families. This plan is an excellent choice for anyone looking to secure their financial future, as it offers a variety of customizable options and additional benefits.