ALL ABOUT LIC's E-TERM (UIN: 512N288V01) INSURANCE PLAN

Preamble: - If anyone asks me which insurance plan is best, I will simply answer them only term insurance is the best plan. In current scenario, we are seeing different type of insurance plan like endowment plan, money back plan, ULIPs plan, child plan, joint life plan, micro insurance plan, and annuity plan. Insurance advisors and intermediaries always convinced us about that plan which plan they want to sale. Very few of them try to understand our necessity and requirements then propose a plan. Other than term insurance plan all insurance plan is the combination of Risk coverage and saving portion. We strongly recommend people first you take term insurance plan and if you have enough money then you invest mutual funds even then if you have money then you invest other insurance plan. It’s advised because the value of money drastically goes down. The item which is purchase in the ` 50, in future their price will be many times hike and if we look past it was happened.

LIC’s e-Term Insurance plan: - LIC of India introduced their first term insurance plan for sale through online mode. This plan provides financial protection in the event of unfortunate death of the policy holder. Since no intermediaries involved in the sale of this plan the premium of this plan is reasonable. Uunder this plan, there are two categories of premium rates namely (1) Aggregate lives & (2) Non-smoker lives.

Key Features of the Plan: - this is first plan of LIC of India which is available through online. You can purchase this plan through LIC of India official website (www.licindia.in). This is pure term insurance plan, you can say it is real life insurance and fulfills the basic objective of insurance. There are two category and premium rates are different. For smoker rates are different and for non-smoker rates are different. Anyone can purchase this plan for only their life.

Plan Parameters: - The plan parameters are as under:-

Minimum Sum Assured	Rs. 25,00,000 for Aggregate category Rs. 50,00,000 for Non-smoker category
Maximum Sum Assured	No Limits subject to underwriting
Minimum age at entry	18 years
Maximum age at entry	60 years
Maximum cover ceasing age	75 years
Policy Term	10 to 35 years
Premium payment mode	Only annual mode is allowed
Eligible life	The person should be Resident Indian residing in India. He/she must have own earned income. One cannot propose for anyone other than self.

Benefits: - Under the plan, at the time of unfortunate death of Life Assured, sum assured will be payable to their nominee.  If life assured survive at the end of policy term nothing will be payable to him. It is pure term insurance plan.

Example of the premium:-

Sum assured                                      -              Rs. 30,00,000/- (thirty Lacs)

Premium Payment mode             -              Yearly

Date of Birth                                      -              18^th March 1985 (29 years) (male – gender)

Installment premium                     -              Rs. 6480/-

Service Tax                                         -              Rs. 778/-

Education Cess                                  -              Rs.23/-

Total Premium                                  -              Rs. 7281/-

Conclusion: - Why go somewhere else when the LIC. Industry best claim settlement ratio encourage to general people to take policy from LIC only. Where other insurance company is playing with customers with their term and conditions, only LIC is playing fare role of insurer and they are settling their claim.  If you understand the real insurance you can take this policy with the close eyes from LIC. It is good decision to invest in this policy through online. Please remember, only pure term insurance is real shape of insurance.