LIC Term Insurance 1 Crore

LIC term insurance 1 crore, as the name indicates, provides coverage of one crore rupees to the policyholder's beneficiaries in case of their ultimate death during the policy tenure. The policy is a pure-protection plan, indicating that it offers no savings or investment benefits.

Let’s start the article with a basic question –

What is LIC Term Insurance 1 Crore?

A LIC 1 crore term insurance plan is a simple life cover. You pay a fixed LIC term insurance premium for 1 crore coverage for a period of 10 to 40 years (depending on the plan). If the policyholder passes away during this time, the nominee receives a sum assured of one crore rupees. This money can be used for:

• Daily living expenses like food and bills
• Loan repayments (home loan, education loan, car loan)
• Medical emergencies
• Children’s education and marriage
• Future financial security

The main goal of LIC of India term insurance 1 crore plan is to give peace of mind. Even if the breadwinner is not around, the family’s lifestyle doesn’t suffer.

Who Should Buy LIC Term Insurance 1 Crore?

LIC term insurance 1 crore is ideal for anyone who wants to ensure their family's financial security in case of their untimely demise.

Here are some of the individuals who should consider buying LIC term insurance 1 crore:

• Sole Earner of the Family: If you are the sole earner of the family and responsible for your family's financial needs, it is essential to ensure that your dependents are financially secure. LIC term insurance 1 crore can provide comprehensive life insurance coverage to the beneficiaries, ensuring that they can maintain their standard of living even in the absence of a policyholder.
• Young Professionals: Professionals who have just started their careers and have financial dependents can benefit from LIC term insurance 1 crore. The policy offers affordable premiums, making it easier to manage your finances while ensuring that your beneficiaries are financially secure in adverse circumstances.
• High Net-Worth Individuals: High net-worth individuals may require a higher sum assured to provide adequate financial protection to their beneficiaries, which can be secured with this plan.
• Parents with Dependent Children: Parents with dependent children can benefit from LIC term insurance 1 crore, as the policy can provide financial protection to their children and ensure that they can continue their education and maintain their living standards in case of their parents’ demise.

Advantages of Obtaining LIC Term Insurance 1 Crore

There are several advantages to obtaining LIC term insurance of 1 crore. Here are some of the most significant ones-

• Wide Coverage: LIC term insurance 1 crore offers a high sum assured of one crore rupees, which provides extensive life insurance coverage to the policyholder's beneficiaries in case of their untimely demise.
• Affordable Premiums: This insurance plan is designed to be affordable, with fixed premium amounts reasonable for the coverage provided. This, in turn, makes it an ideal choice for those who want a high sum assured at an affordable cost.
• Flexible Policy Term: The policy term for LIC term insurance 1 crore can range from 10 years to 40 years, giving policyholders the flexibility to choose the term that best suits their requirements, budget, and financial planning.
• Tax Benefits: The premiums paid towards LIC term insurance 1 crore are eligible for tax benefits under Section 80C of the Income Tax Act. Additionally, the death benefit received by the nominee is tax-free under Section 10(10D) of the Income Tax Act.
• Peace of Mind: By obtaining LIC term insurance 1 crore, the policyholder can have peace of mind knowing that their family will be financially secure in case of their unfortunate demise. This policy is an excellent way to ensure that the policyholder's dependents can maintain their standard of living even if they are no longer around.
• Rider Benefits: By adding riders, you can also customise your LIC term insurance 1 crore as per your specific needs. LIC term insurance 1 crore offers various rider benefits, including accidental death benefit rider, critical illness riders, disability benefit rider, income benefit rider, and more.

Best LIC Term Insurance 1 Crore Plans in 2025

Here are some of the top LIC 1 crore term plans you can choose from —

Note: The above table is indicative and subject to change as per the terms and conditions of LIC at the time of policy application. It is advisable to check the latest policy details before making any decision.

Popular LIC 1 Crore Term Plans Explained

1. LIC New Tech Term

LIC New Tech Term 1 crore policy is a type of term insurance policy offering coverage of 1 crore rupees to the policyholder's beneficiaries in case of their ultimate death during the policy tenure. However, since it is a pure protection plan, you should not purchase it for any savings or investment benefits.

What makes LIC's New Tech 1 crore policy unique is its use of technology to simplify the application process and enhance the customer experience. The policy application process is entirely online, while this plan can only be purchased via LIC’s official website. This makes it an ideal choice for those looking for a hassle-free, online policy application process.

Benefits

• 100% digital purchase via LIC’s website
• No medical exam required for coverage up to ₹1 Cr (subject to eligibility)
• Premiums payable yearly or half-yearly
• Two death benefit options – Level or Increasing Sum Assured

2. LIC New Jeevan Amar

LIC New Jeevan Amar is a comprehensive term insurance policy offering a high sum assured, flexible payment options, and rider benefits to enhance coverage. It provides financial protection to the policyholder's beneficiaries in case of demise during the policy term. As LIC New Tech Term insurance policy, this policy ranges from 10 to 40 years.

LIC New Jeevan Amar policy can be purchased from licensed insurance brokers, agents, and insurance marketing firms.

Benefits

• Available only through LIC agents, brokers, or insurance marketing firms
• Very high sum assured available – up to ₹25 Cr
• Special premium concessions for women
• Minors cannot purchase directly but can be nominated as beneficiaries

3. LIC Digi Term Plan

This LIC 1 Cr term insurance plan is a pure protection policy offering flexible options and guaranteed death benefits to protect your family financially.

Benefits

• Online-only pure protection plan
• Two death benefit options – Level or Increasing Sum Assured
• Premium payment flexibility: Single, Regular, or Limited Pay
• Fixed death benefits – no bonuses or surplus sharing

4. LIC Digi Credit Life

A decreasing term assurance plan designed to cover outstanding loans and secure your family from repayment liabilities.

Benefits:

• Specifically designed to cover outstanding loans
• Decreasing sum assured (matches loan repayment schedule)
• Policyholder chooses interest rate (6%–12%) for Risk Cover Schedule
• Online-only purchase

5. LIC Yuva Term Plan

A flexible LIC 1 Cr term insurance plan catering to young policyholders with affordable premiums and multiple death benefit options.

Benefits:

• Offline purchase via agents/brokers
• Designed for younger earners with affordable premiums
• Two death benefit options – Level or Increasing Sum Assured]
• Flexible settlement option – claim in instalments
• High sum assured rebate for large covers

6. LIC Yuva Credit Life

A decreasing term assurance plan designed for young borrowers, protecting their families against loan liabilities.

Benefits:

• Tailored for young borrowers with active loans
• Decreasing sum assured linked to chosen loan interest rate (6%–12%)
• Premium flexibility: Single or Limited Pay
• Available offline through LIC agents
• Affordable loan-specific coverage

Common Features of LIC 1 Crore Term Insurance Plans

Most LIC term insurance plans (Tech Term, Jeevan Amar, Digi Term, Yuva Term, Digi Credit Life, Yuva Credit Life) share the following features —

• Pure protection plans with no savings or investment component
• Policy terms ranging from 10 to 40 years (varies by plan)
• Flexible premium payment options (Single, Regular, or Limited Pay depending on plan)
• Grace period of 30 days for delayed premium payments
• Special premium rates for women and high sum assured rebates
• Option to enhance coverage with riders (like Accidental Death Benefit, Critical Illness)
• Smoker / Non-Smoker premium categories (based on medical/cotinine test)
• No maturity benefit – coverage ends at policy expiry
• Tax benefits under Section 80C & Section 10(10D)

Benefits 

• Comprehensive financial protection for the policyholder’s family
• Flexible death benefit payout options (lump sum or instalments over 5, 10, or 15 years)
• Affordable premiums for large coverage (₹1 Cr+)
• Hassle-free application process (online/offline depending on the plan)
• Free-look period of 15 days (if you want to cancel after purchase)

How to Choose the Best LIC 1 Crore Term Plan?

Here’s what to consider —

1. Your family’s needs – Daily expenses, EMIs, education costs, and future goals.
2. Premium affordability – Use the LIC term insurance premium for 1 crore calculator to check what you can pay long-term.
3. Inflation impact – Ensure the ₹1 crore coverage will be sufficient for the next 25–30 years.
4. Policy flexibility – Check for payout options, riders, and premium terms.

Bottom Line

Life is uncertain, but your family’s financial security doesn’t have to be. LIC 1 crore term insurance ensures that even if you are not around, your loved ones are protected from financial stress. With trusted plans like LIC New Tech Term, LIC New Jeevan Amar, and LIC Digi Term Plan, you can choose the best option that matches your needs and budget. Affordable premiums, tax benefits, and wide coverage make it a smart decision for long-term financial planning.

👉 If you want your family to live peacefully, even in your absence, LIC term insurance 1 crore is one of the best ways to build a strong financial shield.