LIC provides term insurance plans for major lives with high sum assured. Only basic sum assured will covers under this protection plans.
A term insurance plan which provides a lump sum in case of death of the insured. … In case of death of the life insured during the chosen tenure of the LIC term plan, the death benefit is paid which is equal to the Sum Assured chosen by the policyholder at the time of inception of the policy.
Term insurance plan is a form of life cover, it provides coverage for defined period of time, and if the insured expires during the term of the policy then death benefit is payable to nominee. LIC Term plans are specifically designed to secure your family needs in case of death or uncertainty.