and nation’s biggest life insurance company has launched it’s maiden online policy - LIC e-Term.
It’s been more than four years since the first online term plan was launched and the whole industry was waiting for LIC to launch its online plan. Ironical as it may seem, all the private players have been eagerly waiting for LIC to launch its online term plan. While all are aware that LIC will instantly grab the largest market share even in the online segment, the silver lining is that with LIC’s entry the market size will increase exponentially. Now that LIC has launched its online insurance policy, this becomes like an approval seal to the entire category of online insurance plans.
LIC e-Term is a regular premium non-participating pure term plan. Like other life insurers, LIC has also kept differential premium rates for smokers and non-smokers. The pricing of LIC e-Term which was the most crucial aspect has been somewhat as expected. It is much lower than the offline term plans of LIC but still higher than most of the online term plans in the market. But there is little doubt that the LIC brand name will overcome this aspect of high price. The minimum sum assured for non-smoker category is 50 lacs. The entry age for this policy is 18 years to 60 years and the maximum policy term is 35 years.
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Thank you for sharing such great information. Online term plan entertainment and so on.
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