PolicyBros.in
Term InsurancePlan 954NRI Eligible

LIC New Tech Term

Affordable pure life cover, your family gets the money if you're not around

What is LIC New Tech Term?

LIC New Tech Term (Plan 954) is a term insurance plan from Life Insurance Corporation of India. In simple terms: affordable pure life cover, your family gets the money if you're not around.

Key Highlights

Lowest premium for highest coverage
Online purchase available
₹50 lakh+ sum assured
Level or increasing cover options

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured paid to nominee (lump sum or monthly income option)

When the Plan Matures (Maturity Benefit)

None, pure protection plan

Eligibility & Details

Minimum Entry Age18 years (completed)
Maximum Entry Age65 years
Minimum Sum Assured₹50,00,000
Policy Term10, 15, 20, 25, 30, 35, 40 years
Premium Paying Term10, 15, 20, 25, 30, 35, 40 years
Bonus Typenone
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums

Premium Rates (Indicative)

Age10 years20 years30 years
25 yrs₹3,250₹4,500₹5,750
30 yrs₹3,750₹5,500₹7,250
35 yrs₹5,250₹7,500₹10,500
40 yrs₹8,000₹11,500₹16,000
45 yrs₹12,500₹17,500₹23,500
50 yrs₹19,500₹27,000-

APPROXIMATE RATES - pending official brochure extraction. Pure term plan, no maturity benefit. Annual premiums in ₹ for ₹50 lakh SA, non-smoker males. Females typically get 10-15% lower premiums. Exclusive of taxes.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Note: These are approximate rates pending verification from the official brochure.

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 20-year term:

Annual Premium

₹1,100

Total Paid (20 yrs)

₹22,000

Death Benefit

₹10,00,000

No maturity benefit (pure protection)

Who is This Plan Best For?

pure protectionfamily securityaffordable cover

Frequently Asked Questions

What is LIC New Tech Term (Plan 954)?

LIC New Tech Term is a term insurance plan from Life Insurance Corporation of India. Affordable pure life cover, your family gets the money if you're not around.

What is the eligibility age for LIC New Tech Term?

Entry age is between 18 and 65 years. Policy term: 10 to 40 years. Premium paying term: 10 to 40 years.

What is the minimum sum assured for LIC New Tech Term?

Minimum sum assured is ₹50,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Tech Term?

Section 80C deduction on premiums.

Is LIC New Tech Term available for NRIs?

Yes. LIC New Tech Term is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Tech Term?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

Interested in New Tech Term?

Get a free consultation and exact premium quote for your age and needs.

View on LIC Official Site

Already have this policy?

Create a free account to track your premium due dates, get reminders, and see all your LIC policies in one dashboard.