New Tech Term is bought through LIC's online process for family protection if the insured person dies during the covered term. It does not build a maturity savings pot, so the useful comparison is the amount and length of cover your family needs, rather than the biggest final figure on a screen.
Check the online quote and health details
Your New Tech Term quote depends on age, payment choice, policy length and the health details accepted by LIC. A lower non-smoker price is not secured just by choosing a box on this page; LIC uses its required health checks, including the relevant urine check for that price category.
When increasing cover reaches its full level
The level choice keeps the stated basic cover unchanged, while the increasing choice adds cover only after the first five policy years. Existing holders comparing an offline contract can read New Jeevan Amar, but should check its sale status and their own policy version before assuming both are available.
Fifty lakh cover does not double on day one
With fifty lakh rupees basic cover on the increasing choice, cover is still fifty lakh during the first five years and becomes fifty five lakh in the sixth. It reaches one crore rupees in the fifteenth year if the policy continues that long; there is no matching savings payment when the term ends.
FAQ
Q: Does New Tech Term increasing cover rise by compound interest?
A: No. Each scheduled increase uses ten percent of the original basic cover, not ten percent of the previous year's higher amount. The rise stops at the stated cap.
Q: Can a New Tech Term nominee receive the death benefit in parts?
A: The plan has an eligible payment-in-parts choice under its terms. Check the selected period and claim arrangements; do not assume the calculator selects that choice for you.
Q: Will LIC return all New Tech Term premiums at maturity?
A: No. Survival to the end does not bring a maturity benefit under this pure term plan. Early cancellation rights are separate and depend on the policy conditions.