LIC E Term Policy 825 review and features

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LIC E Term Policy 825 Introduction

LIC E Term Policy 8255 is a regular premium policy which provides financial protection to insured’s family in case of his/her unfortunate death. LIC E Term Policy 825 will be available through online application process only and no mediators are involved in this policy.

LIC E Term Policy 825 is pure term insurance policy with very less premium compared to other LIC policies such as amulya jeevan and anmol jeevan term insurance policies. Under this LIC E Term Policy 825 plan, there are two categories of premium rates namely (1) Aggregate lives & (2) Non-smoker lives.

According to LIC E Term Policy 825 the application of Non-smoker rates shall be based on the findings of the Urinary Cotinine test and in all other cases the Aggregate premium rates shall be applicable.

Benefits of LIC E Term Policy 825

Benefits under the LIC E Term Policy plan no 825 are

Death Benefits: If in case of any unfortunate death of the Life Assured during the policy term then the Sum Assured shall be payable. In LIC E Term Policy 825 death benefit will be equal to Sum Assured.
Maturity Benefits: There is no maturity benefit under this plan, nothing is paid at the end of policy term.

Terms and Eligibility conditions of LIC E Term Policy 825

Entry age	Minimum Age – 18 years (completed) Maximum Age – 60 years (Nearest birthday)
Policy Term	Minimum-10 years Maximum – 35 years
Minimum Sum assured	Rs.25 lakhs (for Aggregate category) Rs.50 lakhs (for Non-smoker category)
Maximum Sum assured	No limits for both categories
Maximum Coverage Age	75 years (Nearest Birthday)
Premium Payment Mode	Yearly (Payment mode is through online only)
Tax Benefits	12.36% of Service tax is applicable on premium. For more information regarding Income Tax Benefits, visit www.taxqueries.in.
Grace Period	If the Premium is not paid within the time then a delay of 30 days is extended to pay the premium amount which is grace period.
Cooling off period	If you are not satisfied with this policy term you may return the policy within 30 days from the date of receipt of the policy.
Eligible Life	The policyholder must be residing in India only. The policyholder must have own earned income. The Person should not be Non-Resident Indian (NRI), Overseas Citizen of India (OCI) or Person of Indian Origin (PIO). One cannot propose for anyone other than self. Key Man Insurance (KMI)/ Partnership/ Employer-Employee Cover will not be allowed.
Details needed while filling online application form.	PAN Number is must. Form 16 or ITR of last three years is must. Details of all your existing insurance (irrespective of insurance company) Details of family members. Details of medical history. Details of Bank like Account number and MICR code etc. e Term Access Id – Click on Proceed tab and which asks for 10 Digit Access ID. Provide the same and click on proceed.

Additional Information of LIC E Term Policy 825

Under this LIC E term policy 825 there are two categories. There are

Aggregate lives: In this category you can buy a premium upto sum assured of 49 lakhs whether you are smoker or non smoker.
Non-Smoker lives: In Non-smoker Category the premium is less than aggregate category and if your sum assured is 50 lakhs and above then the policyholder comes under this category.
No other Bonus is payable under this LIC E term policy no 825
Paid up value: No paid up value is provided Under this LIC E term plan 825
Surrender benefits: Under this LIC E term policy plan no 825 surrender benefits are zero
Loan Facility: In LIC E term policy plan no 825, Loan Facility is not available
Proposal of policy on your own life will only be considered.
Medical test: Requirement of medical test will be based on types of categories.
LIC E term policy 825 cannot be purchased through any agent or LIC officer or any intermediate services.
Policy Revival:If the premium is not paid by you within the grace period then the policy will lapse. If you are interested to continue this policy then you can revive your policy on or before 2 years from date of first Unpaid premium.
Suicide clause: If the policy holder commits suicide for any of the reasons within 12 months of date of commencement of policy, then 80% of premium for what he had paid will be returned to nominees or assignees.

Buying Procedure for LIC E Term Policy 825

LIC E term policy 825 is only through online procedure.
You must be a citizen of India while buying a plan and if required you need to undergo the health check up.
By visiting the homepage of LIC E term policy no 825 you can buy the policy or directly log on to http://e2e.licindia.in:8080/OnlineTerm/start.do#
After opening the page select the option of new user and mark on two options if you are residing in India, next click on confirm to continue and proceed.
Now fill the details of sum assured, date of birth and policy term to calculate your premium yearly and click on proceed to continue next step.
Fill your personal details and contact information. Please remember that this online purchase is set for some cities only. So, if you are not belonging to any of the cities mentioned in drop down then select city which is nearest to you.
Now, access ID will be generated which will be sent to your mobile number and email id.
Finally proceed for buying it through net-banking/credit card/debit card.

LIC E Term Policy 825 Premium Calculator

In LIC E term policy 825 to calculate the premium rates the following details are required.

Name:

Age :

Policy term :

E-Mail Id:

Mobile Number:

Sum assured :

Category:

Example of LIC E term policy 825

Gokul who is residing in India had decided to purchase a LIC E term policy 825. Details of Gokul are as follows:

Age : 25 years

Term : 15 years

Sum assured : Rs. 25 lakhs

In LIC E term policy no 825 there are two categories. One is aggregate and other is Non-smoker lives. Obviously, Gokul comes under Aggregate category because the total sum assured is not exceeding 49 lakhs and above. Now,the premium has to pay yearly with or without tax by Gokul is given in below table.

LIC E term policy 825 Yearly Premium calculator Table

Premium	Without Tax	Tax	With Tax
Yearly Premium	2500	309	2809

Required medical details of Gokul are given below

LIC E Term policy 825 medical requirements Table

Medical Requirements

FBS, Lipidogram Elisa for HIV, Hb% (Rs. 1140)

If in case any accidental death or natural death occurs during policy term then maturity and death benefits are,

LIC E Term Policy Maturity And Death Benefits Table

Natural/Accident Death Benefit	Rs.25,00,000
Maturity Benefit	0

If in case Gokul decided to purchase LIC E Term Policy 825 with sum assured of Rs. 50 lakhs then gokul comes under the category of Non-smoker lives then the premium details of this category are as follows

Sum assured : Rs.50 lakhs

Age : 25

Term : 15 years

Now,the premium has to pay yearly with or without tax by Gokul is given in below table

LIC E term policy 825 Yearly Premium calculator Table

Premium	Without Tax	Tax	With tax
Yearly Premium	3500	432.6	3932.6

Required medical details of Gokul are given below

LIC E Term policy 825 medical requirements Table

Medical Requirements

Rest ECG, SBT-13, RUA, Hb% (Rs.1170)

If in case any accidental or natural death occurs during policy term then maturity and death benefits are :

LIC E Term Policy Maturity And Death Benefits Table

Natural/Accident Death Benefit	Rs.50 lakhs
Maturity Benefit	0

Claim Procedure For LIC E Term Policy 825:

The documents required for claim procedure under LIC E Term policy 825 are given below

NEFT form
Discharge form
Cancel check or Bank Pass book xerox
Policy bond
Death certificate

LIC E-term policy 825 claim form

FAQ’S of LIC E Term Policy 825

Can a nominee be a minor?

Yes, and a major has to be provided for minor nominee.

How can I pay subsequent premium?

The premium can be paid either by net banking or credit cards or debit cards.

If I am travelling for abroad for vacation then am I applicable to cover under this policy?

Yes, If once your policy is issued then you will be covered across globe even if you get any job opportunity you are applicable to continue this policy.

Can I buy one more policy?

Yes, you can buy another policy with your name.