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LIC · 512N351V02

LIC New Tech-Term (Plan 954)

LIC New Tech-Term (Plan 954) (IRDAI UIN 512N351V02) is a term life insurance plan for people aged 18 to 65 at entry, with cover up to age 80.

Premiums depend on age, cover, city, health and the options you choose. Where the insurer published a premium, the figure shown is for the exact profile stated next to it; your premium will differ. Comparezi does not sell insurance or give advice: check the insurer's prospectus and policy wording, which prevail.

In short

LIC New Tech-Term (Plan 954) is a term life insurance plan from LIC. Key specifications: maximum entry age 65 years, maximum maturity age 80 years, death claims settled (insurer) 97.59%.

Sample premium ₹9,135 a year*

*For: Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms.. Your premium will differ.

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Maximum entry age
65 years
Maximum maturity age
80 years
Death claims settled (insurer)
97.59%

Cons

  • Cover ends earlier than 81% of the 27 term life insurance plans on Comparezi that state it (age 80)
  • Insurer paid a lower share of individual death claims than 88% of the 27 term life insurance plans on Comparezi that state it (97.59%)

Who should avoid it

  • Not ideal for Insurer's claim payout record · What matters most? (pick any) #25 of 29
  • Not ideal for Cover to an older age · What matters most? (pick any) #23 of 29

Full specifications

Eligibility

Minimum entry age 18 years
Maximum entry age 65 years
Maximum maturity age 80 years
Policy term Minimum 10 years; maximum 40 years under Level Sum Assured (subject to maximum age at maturity 80); under Increasing Sum Assured the maximum depends on age and Basic Sum Assured band
Minimum sum assured ₹50,00,000
Maximum sum assured No Limit* As per underwriting decision (Board Approved Underwriting Policy)

Plan

Plan options Option I: Level Sum Assured, Option II: Increasing Sum Assured
Premium payment Regular Premium (same as policy term), Limited Premium ([Policy Term minus 5] years for policy term 10-40 years; [Policy Term minus 10] years for policy term 15-40 years) or Single Premium; Yearly or Half Yearly modes
Return of premium option No
Death benefit payout Lump sum, or Death Benefit in instalments over 5, 10 or 15 years (yearly/half-yearly/quarterly/monthly), opted by the Life Assured for full or part of the claim
Riders LIC's Accident Benefit Rider (UIN 512B203V03)

Premium

Sample annual premium ₹9,135
Sample premium is for Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms.

Insurer

Death claims settled (insurer) 97.59%
Claims figures for FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN 512N351V02

About the New Tech-Term (Plan 954)

LIC New Tech-Term (Plan 954) (IRDAI UIN 512N351V02) is a term life insurance plan for people aged 18 to 65 at entry, with cover up to age 80. It is one of 29 term life insurance plans on Comparezi, from LIC.

Information only. Comparezi does not sell insurance, does not give advice and is not paid by insurers. The policy wording issued by the insurer prevails over this summary.

Eligibility and cover

  • Entry age: 18 to 65 years
  • Maximum maturity age: 80 years
  • Policy term: Minimum 10 years; maximum 40 years under Level Sum Assured (subject to maximum age at maturity 80); under Increasing Sum Assured the maximum depends on age and Basic Sum Assured band
  • Minimum sum assured: ₹50,00,000
  • Maximum sum assured: No Limit* As per underwriting decision (Board Approved Underwriting Policy)

Plan options

  • Options: Option I: Level Sum Assured, Option II: Increasing Sum Assured
  • Premium payment: Regular Premium (same as policy term), Limited Premium ([Policy Term minus 5] years for policy term 10-40 years; [Policy Term minus 10] years for policy term 15-40 years) or Single Premium; Yearly or Half Yearly modes
  • Return of premium: Not covered
  • Death benefit payout: Lump sum, or Death Benefit in instalments over 5, 10 or 15 years (yearly/half-yearly/quarterly/monthly), opted by the Life Assured for full or part of the claim
  • Riders: LIC's Accident Benefit Rider (UIN 512B203V03)

How it compares on Comparezi

Of the 27 term life insurance plans on Comparezi with a stated maximum maturity age, 22 have a longer one.

Premium

It depends on your age, cover, city and options. LIC's own published premium table gives ₹9,135 a year for this profile: Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms. Your premium will differ; get a quote from the insurer.

About the insurer

LIC paid 97.59% of individual death claims in FY 2024-25 (by number of claims, computed from IRDAI's published claim counts).

Similar plans from other insurers

Other term life insurance plans from LIC

Sources

Checked 6 November 2026. Values the documents do not state are left out rather than estimated. See how Comparezi checks data.

Alternatives

Alternatives to the New Tech-Term (Plan 954)

All term life insurance →

Aditya Birla Sun Life

Super Term Plan

  • 65 years Maximum entry age
  • 85 years Maximum maturity age
  • 98.65% Death claims settled (insurer)
Sample premium ₹19,400 a year*

Ageas Federal Life

iSecure Plan

  • 65 years Maximum entry age
  • 85 years Maximum maturity age
  • 98.52% Death claims settled (insurer)
Sample premium ₹14,640 a year*

Bajaj Life

iSecure II

  • 65 years Maximum entry age
  • 85 years Maximum maturity age
  • 99.29% Death claims settled (insurer)
Sample premium ₹13,451 a year*

Similar cover

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Head to head

Compare the New Tech-Term (Plan 954)

Questions

New Tech-Term (Plan 954) FAQs

It depends on your age, cover, city and options. LIC's own published premium table gives ₹9,135 a year for this profile: Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms. Your premium will differ; get a quote from the insurer.

512N351V02. The UIN identifies the exact product version filed with IRDAI; check it on your policy documents.

From 18 years to 65 years; limits can differ by plan option.

Up to age 80 at most; the limit can differ by plan option.

No. It is a pure term plan without a return-of-premium option.

97.59% of individual death claims were paid in FY 2024-25, by number of claims, computed from IRDAI's published claim counts. It is an insurer-wide figure, not one for this plan.

LIC's Accident Benefit Rider (UIN 512B203V03).

Data sources

  • Manufacturer official pages

Last updated

Product details

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