New Tech-Term in one table
| Insurer | Life Insurance Corporation of India |
|---|---|
| Sum insured | ₹50 lakh upwards. Sum assured moves in steps of ₹5 lakh between ₹50 lakh and ₹75 lakh, and in steps of ₹10 lakh above that. The maximum depends on your age, income and health at underwriting. |
| Entry age | 18 to 65 years (last birthday) |
| Cover runs to | Up to 80 years (last birthday) |
Claim settlement and complaint figures are IRDAI-published and held centrally by NYVO, not taken from the insurer's marketing.
What New Tech-Term does, and what it does not
Term insurance is a narrow product, so the useful question is not how this plan scores against a benchmark – it is what it pays for and what it leaves out. Both lists come from LIC's own documents.
Which variant should you take?
This plan is sold in more than one form, and the choice is made once at purchase. Picking the wrong one is not something you can quietly correct later, so it is worth a minute now.
The amount payable on death equals the basic sum assured and stays flat for the whole term. The straightforward choice, and the cheaper one.
The cover stays level for the first five years, then rises by 10% of the basic sum assured each year from the sixth policy year until it reaches twice the original. From the sixteenth year it stays at 2x. Costs more, and the maximum policy term is restricted by age and sum assured band.
New Tech-Term add-ons you can buy with it
Each of these costs extra and each has its own conditions. Some are genuinely worth it; several exist to patch a gap in the base plan. Ask what each one adds before it goes on your quote.
New Tech-Term exclusions: what the plan will not pay for
Every policy carries exclusions, and they are the clauses people read for the first time at claim stage. These are the ones worth knowing before you buy.
Where New Tech-Term falls short
No plan is right for everyone, and a page that only lists strengths is not much use to you. These are the gaps we would raise on a call before recommending it.
New Tech-Term questions, answered
How much cover does New Tech-Term offer?
₹50 lakh upwards. Sum assured moves in steps of ₹5 lakh between ₹50 lakh and ₹75 lakh, and in steps of ₹10 lakh above that. The maximum depends on your age, income and health at underwriting.
Who can buy New Tech-Term?
Entry to New Tech-Term runs from 18 to 65 years. Cover can run to age 80, which is the maximum maturity age on this plan. What you are actually offered still depends on your income, health and any cover you already hold.
What riders can I add to New Tech-Term?
New Tech-Term offers LIC's Accident Benefit Rider. Each rider is priced separately and has its own terms, so read the rider wording rather than assuming it follows the base plan.
What does New Tech-Term not cover?
Like every term plan, New Tech-Term excludes suicide within 12 months of the date of commencement of risk, or of revival – 80% of the total premiums paid is returned and nothing more. The same 80% applies whether you pay regular, limited or single premium. Taxes, extra premium and rider premiums are excluded from that calculation. Other exclusions are listed on this page, and the policy wording you are issued is the contract.
Read it from the insurer
We summarise. The policy wording is the contract, and it is the only document that settles a dispute. These links go to the insurer's own pages.
Understand the terms before you commit
A plan page tells you what this policy does. These explain why each term matters and what it costs you when it is missing.
Other LIC plans we have read
LIC files these separately, and the terms differ between them. If you are choosing within the range, compare the waiting periods and the exclusions rather than the sum insured.