LIC Tech Term Plan 854 Premium Calculator

LIC Tech Term Plan 854 Premium Calculator

LIC Tech Term Plan 854 Premium Calculator

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  • Post last modified:November 8, 2023

LIC is one of the trusted life insurance corporations in India. LIC is a trusted firm and is used by millions of people. It has various types of plans which you can buy to secure your family’s future. It provides an investment plan in which you can invest a certain premium amount and avail the benefits all your life. LIC tech term plan 854 premium calculator is one of the life insurance policies which you can avail of. It comes with lots of life coverage benefits. You can purchase tech term plan LIC online just at your home.

Many times while planning to buy a policy we get confused about its worth. It is always a good idea to know all the details while choosing the LIC tech term plan. We provide you with all the details here regarding the tech term plan LIC. LIC also provides an online LIC tech term premium calculator to calculate all the premium plans. This helps in knowing the plan amount and then you can decide to buy according to your budget.

Let’s know about LIC tech term plan 854 and it’s a premium calculator in this article.

What is LIC Tech Term Plan 854?

LIC tech term plan 854 is a protection plan which is a non-linked, non-participating plan. It provides security to the family after the demise of a policyholder. After buying LIC tech term plan 854 you will the life coverage benefits and you will be secure knowing that your family will be financially secure even in your absence. ‘Your family will get all the maturity amount and bonus of the tech term plan LIC in the unfortunate death of the policyholder. ‘You can buy LIC tech term plan 854 online and in a hassle-free way. You can always use the LIC tech term plan 854 premium calculator to calculate the premium plans.

What are the Eligibility Criteria to Buy LIC Tech Term Plan 854?

Let’s look at the eligibility criteria for availing LIC tech term plan  in the following table

Parameters Minimum range Maximum range
Age 18 years 65 years
Maturity age NA 80 years
Basic sum assured Rs 50,00,000 NA
Policy term 10-40 years NA

What is the LIC Tech Term Plan 854 Premium Calculator?

LIC tech term plan 854 premium calculator is an online tool provided by LIC. This is used to calculate the amounts in advance before you buy. It helps a person to plan according to the budget. It is very easy to use and gives an accurate result. The LIC 854 premium calculator is pocket friendly as you can use it anywhere and as many times as you want. It is always a good idea to calculate the amount you have to invest and plan accordingly. It’s important to plan your finance before giving away anywhere.

What are the Benefits of Availing of LIC Tech Term Plan 854 Calculator?

LIC tech term plan 854 comes with various benefits like maturity amount, bonuses, and many others. Let’s look at it below

  1. LIC tech term plan 854 is an online process and you can avail it sitting at home.
  2. It provides you sum assured and it increases with time.
  3. It has easy and affordable premium rates for women.
  4. It offers attractive rebates at a high sum assured amount.
  5. LIC tech term plan 854 is a flexible policy that has limited premium payments.
  6. It has very affordable premium plans which you can choose according to your budget.
  7. You can choose LIC tech term plan 854 according to your choice and ease.
  8. You can pay extra to enhance your coverage benefits.
  9. You can buy LIC tech term plan 854 in installments.
  10. LIC also provides LIC 854 premium calculator to calculate the premium amounts.

LIC Tech Term Plan 854 An Overview

1.   Death Benefits

In case of regular and limited payment of premium

If the policyholder dies during the term of the plan, the death benefits are provided in the form of a Sum assured amount on death as the highest of:

  • 7 times the annualized premium
  • 105% of the paid premium as of the date of the demise
  • Absolute assured amount paid on the death.

In the case of a single premium, If the policyholder dies during the plan, the nominee will get the death benefits as the highest of:

  • 126% of the single premium amount
  • Absolute assured amount paid for the death.

Here, the Absolute Assured amount depends on the policyholder’s death benefits choice while buying the plan:

  • Level SA

If he/she chooses Level SA, the absolute Sum assured at the time of death will be paid equal to the SA which is always constant during the policy term.

  • Increasing SA

Here, the Absolute SA will be paid equal to SA till the end of the 5th year of the plan tenure, then, it increases by 10% every year till the 15th year until it becomes twice the SA.

3.   Maturity Benefits

If the policyholder survives through the complete tenure of the policy, no maturity benefit will be paid. 

Sample Illustration Table for LIC Tech Plan 854 Premium Calculator

Here is the table showing the premium costs of the level sum Assured and Increasing SA of Rs. 1 crore of Basic SA for males and non-smokers for 20 years policy term.

Level Sum Assured

Age Regular Premium per year Limited PPT (Annual) – Policy term minus 5 years (in Rs.) Limited PPT – Annual – Policy term minus 10 years (in Rs.) Single Premium (in Rs.)
  Level Sum Assured      
20 5368 6160 8008 64592
30 7216 8360 10912 87120
40 13770 16110 21060 166230
  Increasing SA      
20 7020 8190 10620 85140
30 10350 12060 15750 124920
40 21252 24932 32568 256036
   

 

     

High Sum Assured Rebates

Age Range Rebates on High SA (in %)  
  <Rs. 1 Crore Rs. 1 crore to <2 crores (in %) >2 crores (in %)
Level SA      
Upto 30 years 12 20
31 years – 50 years 10 15
>51 Years 52 7
Increasing SA      
Up to 30 years 10 18
To 50 years 8 13
>51 years 4 6

What are the Documents You Need to Use the LIC Tech Term Plan 854 Premium Calculator?

Let’s look at the documents you need to use LIC tech term plan 854 premium

  1. ID cards like Aadhar cards or driving licenses.
  2. Proof of Date of birth like birth certificate, school leaving certificate, or 10th passing certificate.
  3. Any certified documents of address proof. For eg. Utility bills.

Why You Should Use the LIC Tech Term Plan 854 Premium Calculator?

Money is an important aspect of life and you should always use it wisely. Before buying or investing in any life coverage plan, it’s good to know all the premium amounts you are going to pay. LIC has the best solution for it. It provides you with a LIC tech term plan premium calculator so that you can calculate the amount before buying. Let’s look at the benefits of the tech term plan 854 premium calculator.

  • Online Process

You can use the LIC tech term plan premium calculator online.  Just need to visit the official website of LIC and fill in the details accurately and voila! You get all the plan details in one click.

  • Reliable

The LIC 854 premium calculator is reliable to use. You can know how much you will need to invest by using the LIC tech term plan 854 premium calculator easily.

  • Easy to Use

The LIC tech term plan 854 premium calculator is very easy to use. You just need to click on the official website of LIC and fill in the details in the calculator.

  • Accurate Result

LIC tech term plan 854 Calculating the premium plans can be difficult and many times you can do mistakes while calculating manually. So using the best LIC tech term plan calculator is best as it will show accurate results.

  • Less Time

Being an Online process the LIC tech term plan premium calculator takes very less time to calculate.

  • User Friendly

LIC tech term plan premium calculator is user-friendly and you can use it as many times as you want.

How to Calculate Premium with LIC Tech Term Plan 854 Premium Calculator?

You can use LIC 854 premium calculator to calculate all the premium amounts of LIC tech term plan 854. Let’s look at the steps of using the LIC 854 premium calculator

  1. Click on the LIC official website.
  2. Open the policy section or buy a policy online on the home page.
  3. Click on the buy online tab and select LIC tech term plan 854.
  4. Click on the LIC tech term plan 854 premium calculator.
  5. Fill in the details of name, gender, Date of birth, country, mobile, and email address.
  6. Click on the submit button.
  7. You will get the plans and amount now you can choose from them.

Read More: LIC Single Premium Endowment Plan 917 Maturity Calculator

Conclusion

As we have known all the details regarding the tech term plan LIC and about tech term premium calculator. You can now easily use it through an online process and get all the premium plans. You can choose the plan according to your budget and also can avail of it in installments.

LIC Tech Term Plan 854 Premium Calculator – FAQ

What is LIC tech term plan 854?

Ans. LIC tech term plan 854 is a protection plan which is a non-linked, non-participating plan. It provides security to the family after the demise of a policyholder.

How can I Use the tech term premium calculator?

Ans. You can use the tech term premium calculator on the official website of LIC. You just need to fill in the general information and get the result.

How can I buy a tech term plan LIC and avail LIC tech term plan?

Ans. You can buy tech term plan LIC online from the website of LIC.

What is the benefit of using the tech term premium calculator?

Ans. When you use tech term premium calculator you can know all the details of the premium amount. It will help you to plan the budget according to investment.

Why should I buy tech term plan LIC?

Ans. You should buy a tech term plan LIC because it’s the best life coverage policy. It provides you with many benefits like maturity amount, bonus amount, and death benefit.

MyMoneyTrip

This was where he gained an interest in finance. And as a finance enthusiast, he started to learn more about it. He not only taught himself how to manage finance but also how to invest in the right portfolio to grow assets

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