LIC offers two pure term plans: Tech Term for online buyers and Jeevan Amar for those buying through agents. They are very similar, but the differences matter.
Premium: Tech Term is 15 to 25% cheaper than Jeevan Amar for the same cover, because there is no agent commission built into the price. For a 35-year-old male non-smoker, a Rs 1 crore cover for 30 years costs approximately Rs 9,800/year on Tech Term vs Rs 12,500/year on Jeevan Amar.
Purchase method: Tech Term is purchased exclusively online at licindia.in. Jeevan Amar can be bought through any LIC agent, development officer, or branch.
Return of Premium variant: Both offer a ROP option where premiums are returned at end of term if you survive. This costs significantly more and reduces IRR - I generally recommend against it unless you are highly risk-averse.
My recommendation: If you are comfortable using the LIC portal, Tech Term saves you real money. For clients in Gorakhpur and eastern UP, I often recommend Jeevan Amar because I assist with the entire process - medical scheduling, form submission, nominee updates, and claim assistance at no extra cost. The Rs 2,700/year difference is worth paying for ongoing service.
Call me at 9415313434 to get exact premiums for your age.
Use our free Premium Calculator to calculate your own numbers.
