LIC Term Plans

LIC Term Plans offer pure life cover from India's most trusted life insurer, backed by decades of claim-settlement reliability and a vast branch network. CoreLink Finance helps you choose the right LIC term plan and sum assured for your family's long-term security.

Why Choose an LIC Term Plan

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India's Most Trusted Insurer

LIC carries decades of trust and one of the largest policyholder bases in the country.

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Strong Claim Settlement Track Record

LIC has a consistently high claim settlement ratio, year after year.

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Wide Branch Network

Local branches across India make servicing, assistance, and claims easier for your family.

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Service built on honest advice

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Protected by LIC Term Plans
The Basics

What Is an LIC Term Plan?

An LIC Term Plan is a pure life insurance policy from the Life Insurance Corporation of India that pays a lump-sum death benefit to your nominee if something happens to you during the policy term. It carries no maturity value — the entire premium goes toward providing a large life cover at an affordable cost.

LIC offers a range of term plans, including options with level cover, increasing cover, and return-of-premium variants, so you can pick a structure that fits your family's needs and budget.

Because LIC is a government-backed, long-established insurer with a strong claim settlement history, many families prefer an LIC term plan specifically for the confidence and reliability that comes with the brand.

What You Get

Core Features of LIC Term Plans

High Life Cover at Low Premium

Get a large sum assured for your family at a relatively affordable annual premium.

Flexible Premium Payment Options

Choose to pay premiums regularly, for a limited period, or as a single lump sum.

Tax Benefits

Premiums paid qualify for deduction under Section 80C, and the death benefit is tax-free under Section 10(10D).

Rider Add-Ons Available

Enhance your base cover with riders for accidental death, critical illness, or disability.

Family protected under LIC Term Plans

Backed by LIC's Trust & Scale

Benefit from the reliability and claim-paying track record of India's largest life insurer.

Option to Return of Premium

Select variants that return your total premiums paid if you outlive the policy term.

Wide Branch & Agent Network

Get local, in-person support for servicing and claims through LIC's extensive network.

Suitable for All Life Stages

From young earners to those nearing retirement, LIC offers term plans across age bands.

Worked Example

How an LIC Term Plan Protects a Family

LIC Term Plan customer
Meet Arjun Mehta, 33 years old
Software professional, opted for an LIC Term Plan with ₹1 Crore cover for 25 years
Arjun Pays
Annual premium of approx. ₹13,000 for ₹1 Crore life cover over a 25-year term.
If Arjun passes away during the policy term His nominee receives the full ₹1 Crore sum assured as a lump sum, helping the family maintain their lifestyle and meet financial goals.
If Arjun outlives the policy term The policy simply ends — unless he chose a return-of-premium variant, in which case his total premiums paid are returned to him.

Illustrative LIC Term Plan Premiums

Age₹50 Lakhs Cover₹1 Crore Cover₹1.5 Crore Cover
25 Years₹4,800 – 6,500₹8,500 – 11,500₹12,000 – 16,500
35 Years₹6,500 – 9,000₹12,000 – 16,000₹17,000 – 23,000
45 Years₹12,000 – 17,000₹22,000 – 30,000₹32,000 – 44,000

*Indicative figures for a 25-year term, non-smoker, sample profile. Actual premiums depend on age, health, term, and chosen plan variant. GST applicable as per prevailing rates.

We Stay With You

Dedicated Claim Support with CoreLink Finance

At CoreLink Finance, we don't just help you buy a policy — we actively support you through the claim process by coordinating with the insurer, guiding documentation, and following up for a smooth experience.

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Expert Policy Guidance from Day One

We help you choose the right insurer and policy based on claim settlement ratio, reliability, and your profile.

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Complete Profile Verification

Before policy issuance, we ensure all your personal, financial, and medical details are accurate and properly declared.

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100% Transparency in Documentation

We guide you in filling out proposal forms correctly, so no hidden or incorrect information gets submitted.

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Dedicated Claim Manager

In case of a claim, you get a personal claim expert who handles the process — from documentation to settlement.

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Strong Follow-Up with Insurers

We actively coordinate and follow up with insurers to ensure quick and smooth claim processing.

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Error-Free Claim Filing Support

Our team checks all documents before submission to avoid technical errors that often lead to delays or rejection.

How to Avoid Claim Rejection in LIC Term Plans?

Follow these steps to ensure your nominee's claim is settled smoothly.

1

Disclose Health & Lifestyle Honestly

Declare pre-existing conditions, habits, and medical history accurately at the time of proposal.

2

Declare Income & Occupation Correctly

Ensure your declared income and occupation details match your actual profile.

3

Keep Premiums Up to Date

A lapsed policy means no cover — pay premiums on time or use the grace period if needed.

4

Keep Nominee Details Updated

Update your nominee information after major life events like marriage or childbirth.

5

Inform Family About the Policy

Make sure your nominee knows the policy exists and how to initiate a claim.

6

Avoid Mentioning Information for Other People's Policies

Keep each policy's proposal form specific and accurate to the life assured.

Who Should Buy an LIC Term Plan?

An LIC term plan suits anyone who values LIC's legacy and reliability. Consider this if you are:

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A family breadwinner wanting dependable, trusted life cover

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Someone who prefers a government-backed, long-established insurer

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A home loan borrower wanting to protect your family from loan liability

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A salaried or self-employed professional starting your protection journey

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Someone who values LIC's wide branch and agent support network

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Looking for tax-efficient, pure protection cover under Sections 80C & 10(10D)

Ready to secure your family with LIC?

Talk to CoreLink Finance for honest, no-obligation guidance on the right LIC term plan for you.

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