{"uin":"512N351V02","name":"LIC's New Tech-Term","url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02","insurer":{"slug":"lic","name":"Life Insurance Corporation of India","url":"https://indiainsurances.com/insurer/lic"},"line":"life","category":"term-life","category_name":"Term life","irdai_type":"Product","kind":"product","status":"active","approved_on":"2024-11-18","withdrawn_on":null,"summary":"LIC's New Tech-Term is a non-par, non-linked individual pure risk plan that pays the Sum Assured on Death if the life assured dies during the term, with no maturity benefit. It offers a Level or an Increasing Sum Assured option, single, regular or limited premium payment, a 30-day free-look and grace period, and the choice of having the death benefit paid in instalments over 5, 10 or 15 years.","analysis":{"state":"extracted","analysed_at":"2026-10-16 04:48:11.104034+00","note":"Every stated fact carries a verbatim quote found in the cited clause."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"cross-checked","value":["Level Sum Assured (Option I)","Increasing Sum Assured (Option II)","Single Premium","Regular Premium","Limited Premium payment"],"display":"Option I Level Sum Assured or Option II Increasing Sum Assured; Single, Regular or Limited Premium payment","note":"The Death Benefit Option is chosen at the start and cannot be changed later.","quote":"(for both Level Sum Assured (Option I) as well as Increasing Sum Assured (Option II)) ... Whether Single Premium / Regular Premium / Limited Premium payment opted for?","sources":[{"clause":"4","heading":"Surrender","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-4"},{"clause":"Schedule","heading":null,"page":4,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-schedule"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"Minimum 10 years; maximum 40 years, subject to the maximum age at maturity.","display":"10 to 40 years","note":"From the sales brochure. Level Sum Assured: up to 40 years. Increasing Sum Assured: the maximum depends on age and Basic Sum Assured band (for example 35 years at ages 28-36 and 33 years at ages 37-42 for Rs. 50 lakh to under Rs. 1 crore, regular or limited premium). Always limited by maximum maturity age 80.","quote":"Minimum Policy Term: 10 years ... i) Under Level Sum Assured death benefit option: 40 years. The maximum Policy Term shall be subject to maximum Age at Maturity. ... ii) Under Increasing Sum Assured death benefit option: The maximum Policy Term shall depend on the Age and Basic Sum Assured band","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2"},{"clause":"2(i)","heading":"Under Level Sum Assured death benefit option","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2-i"},{"clause":"2(ii)","heading":"Under Increasing Sum Assured death benefit option","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2-ii"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The policyholder or claimant must intimate the Corporation about the claim event at the earliest possible time.","display":"At the earliest possible time","note":null,"quote":"Policyholder or the claimant, as applicable, is required to intimate the Corporation, about the happening of the insured event resulting into a claim under the policy, at the earliest possible time.","sources":[{"clause":"4(a)","heading":"Death Claim","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-a-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"cross-checked","value":["Claim forms, as prescribed by the Corporation","Original Policy Document","NEFT mandate from the claimant","Proof of title","Proof of death","Medical treatment prior to the death (if any)","School/ college/ employer's certificate, whichever is applicable","Proof of age of the Life Assured, if age is not admitted","FIR, Panchnama and Post Mortem report in case of unnatural or accidental death"],"display":"Claim forms, original policy, NEFT mandate, proof of title, proof of death, medical treatment records, school/college/employer certificate; FIR, panchnama and post mortem report for unnatural death","note":"The Corporation may also call for additional documents.","quote":"shall be claim forms, as prescribed by the Corporation, accompanied with original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account, proof of title, proof of death, medical treatment prior to the death (if any), school/ college/ employer's certificate, whichever is applicable ... If the age is not admitted under the policy, the proof of age of the Life assured shall also be submitted. ... the Corporation may call for the copies of First Information Report (FIR), Panchnama and Post Mortem report.","sources":[{"clause":"4(a)","heading":"Death Claim","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-a-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"cross-checked","value":"15 days for death claims not requiring investigation; 45 days for decision and payment of early death claims requiring investigation.","display":"15 days (no investigation); 45 days for early death claims needing investigation","note":"From the CIS turnaround table; the policy wording gives no settlement time.","quote":"Death claims settlements not requiring Investigations | 15 days ... Early Death Claims requiring investigations - decision & payment | 45 days","sources":[{"clause":"Row 1","heading":"Death Claims","page":4,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/16#c-row-1-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"cross-checked","value":["Suicide within 12 months from the date of commencement of risk or from the date of revival: only 80% of the total premiums paid"],"display":"Suicide within 12 months: 80% of premiums paid instead of the death benefit","note":"Suicide is the only exclusion listed (CIS row 9 also). Single Premium: 80% of the Single Premium.","quote":"commits suicide at any time within 12 months from the date of commencement of risk or from the date of revival of the policy, as applicable, the Nominee or Beneficiary of the Life Assured shall be entitled to 80% of the total premiums paid till the date of death provided the policy is in force.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-2-5"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"Complain first to LIC's Grievance Redressal Officers at Branch, Divisional, Zonal or Central Office (or co_complaints@licindia.com); if there is no satisfactory response within 15 days, approach IRDAI's grievance department, then the Insurance Ombudsman.","display":"LIC Grievance Redressal Officers (Branch/Divisional/Zonal/Central Office), then IRDAI after 15 days","note":"Death claim repudiations can be referred to the Zonal Office or Central Office Claims Dispute Redressal Committee. CIS says LIC acts on a complaint within 14 days.","quote":"The Corporation has Grievance Redressal Officers (GROs) at Branch/ Divisional/ Zonal/ Central Office to redress grievances of customers. ... Customers can also contact at e-mail id co_complaints@licindia.com ... In case the customer is not satisfied with the response or does not receive a response from us within 15 days, then the customer may approach the Policyholder’s Protection and Grievance Redressal Department ... For redressal of Claims related grievances, claimants can also approach Insurance Ombudsman","sources":[{"clause":"Section 45","heading":"of the Insurance Act 1938","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-section-45"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Minimum Basic Sum Assured Rs. 50,00,000; no maximum limit, subject to underwriting decision.","display":"Minimum Rs. 50,00,000; no maximum (as per underwriting)","note":"From the sales brochure. In multiples of Rs. 5,00,000 from Rs. 50,00,000 to Rs. 75,00,000, and of Rs. 25,00,000 above Rs. 75,00,000.","quote":"d) Minimum Basic Sum Assured : Rs. 50,00,000/-. e) Maximum Basic Sum Assured : No Limit* As per underwriting decision ... The Basic Sum Assured shall be in multiples of: Rs. 5,00,000/-, if Basic Sum Assured for the policy is Rs. 50,00,000/- to Rs. 75,00,000/-. Rs. 25,00,000/-, if Basic Sum Assured for the policy is above Rs. 75,00,000/-.","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"Sum Assured on Death: for regular and limited premium policies the highest of 7 times annualised premium, 105% of total premiums paid, or the absolute amount assured; for single premium the higher of 125% of single premium or the absolute amount assured.","display":"Highest of 7 times annualised premium, 105% of premiums paid, or the absolute amount assured (single premium: higher of 125% of single premium or absolute amount)","note":"Absolute amount equals Basic Sum Assured (Option I), or rises to twice Basic Sum Assured (Option II). Payable as lump sum and/or instalments.","quote":"For Regular premium and Limited premium payment policy, “Sum Assured on Death” is defined as the highest of: ... 7 times of Annualised Premium; or ... 105% of “Total Premiums Paid” upto the date of death; or ... Absolute amount assured to be paid on death. ... For Single premium policy, “Sum Assured on Death” is defined as the higher of: ... 125% of Single Premium.","sources":[{"clause":"1","heading":"The following benefits are payable under an in-force policy","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-1-3"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"cross-checked","value":"No maturity benefit is payable.","display":"None","note":null,"quote":"No Maturity Benefit shall be payable on the Life Assured surviving the stipulated Date of Maturity.","sources":[{"clause":null,"heading":"Option II: Increasing Sum Assured","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-option-ii-increasing-sum-assured"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Regular premium: same as the policy term. Limited premium: policy term minus 5 years (policy terms 10 to 40 years) or policy term minus 10 years (policy terms 15 to 40 years). Single premium: not applicable.","display":"Regular: same as policy term; Limited: policy term minus 5 or minus 10 years; Single: not applicable","note":"From the sales brochure.","quote":"Regular Premium | : Same as policy term Limited Premium | : [Policy Term minus 5] years for Policy Term [10 to 40] years : [Policy Term minus 10] years for Policy Term [15 to 40] years Single Premium | : NA","sources":[{"clause":"2(ii)","heading":"Under Increasing Sum Assured death benefit option","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2-ii"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"80 years (age last birthday).","display":"80 years","note":"From the sales brochure.","quote":"c) Maximum age at Maturity | : [80] years (Last Birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"cross-checked","value":"If suicide occurs within 12 months of commencement of risk or revival, 80% of total premiums paid is payable, provided the policy is in force.","display":"80% of total premiums paid if suicide within 12 months","note":"Single Premium policy: 80% of the Single Premium paid (within 12 months of commencement of risk). Premiums exclude taxes, extra premium and rider premiums. Nothing for a lapsed policy.","quote":"commits suicide at any time within 12 months from the date of commencement of risk or from the date of revival of the policy, as applicable, the Nominee or Beneficiary of the Life Assured shall be entitled to 80% of the total premiums paid till the date of death provided the policy is in force.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-2-5"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"cross-checked","value":"No surrender value. On surrender, Regular Premium policies get nothing; Single Premium policies get the Unexpired Risk Premium Value at any time; Limited Premium payment policies get it after full premiums for two or three consecutive years.","display":"No surrender value; Unexpired Risk Premium Value, if any, for Single and Limited Premium policies","note":"Limited Premium: two consecutive years if premium paying term is under 10 years, three if 10 years or more. Amount is by formula and paid only if positive.","quote":"No surrender value will be available under this Plan. ... Regular Premium policies: Nothing shall be payable. ... Unexpired Risk Premium Value, if any, shall be payable on surrender of the policy anytime during the Policy Term. ... i) Two consecutive years in case of Premium Paying Term less than 10 years. ... ii) Three consecutive years in case of Premium Paying Term of 10 years or more.","sources":[{"clause":"4","heading":"Surrender","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-4"},{"clause":"4(a)","heading":"Regular Premium policies","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-a"},{"clause":"4(b)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-b"},{"clause":"4(c)(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-c-i"},{"clause":"4(c)(ii)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-c-ii"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"cross-checked","value":"No paid-up value is available under this plan.","display":"Not applicable","note":null,"quote":"Not applicable as there is no Paid-up Value available under this plan.","sources":[{"clause":"2(ii)","heading":"Forfeiture in Certain Other Events","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-2-ii"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed policy can be revived within five consecutive complete years from the date of the first unpaid premium, before the Date of Maturity, on payment of arrears with interest and proof of continued insurability.","display":"Within five consecutive complete years from the first unpaid premium, before maturity","note":"Interest 9.50% p.a. compounding half yearly for 1 May 2024 to 30 April 2025. Regular and Limited Premium policies only.","quote":"Revival Period means the period of five consecutive complete years from the date of First Unpaid Premium ... A policy in lapsed condition may be revived during the life time of the Life Assured, but within the Revival Period and before the Date of Maturity. ... The revival shall be effected on payment of all the arrears of premium(s) together with interest (compounding half yearly) ... on satisfaction of Continued Insurability of the Life Assured ... the applicable interest rate shall be 9.50 % p.a. compounding half yearly","sources":[{"clause":"43","heading":"Revival Period","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-43"},{"clause":"3","heading":"Revival of lapsed Policies (Applicable for Regular and Limited Premium payment policies )","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-3-4"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"cross-checked","value":"No loan is available under this policy.","display":"No","note":null,"quote":"No loan will be available under this policy","sources":[{"clause":"5","heading":"Policy Loan","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-5-3"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"cross-checked","value":["LIC’s Accident Benefit Rider"],"display":"LIC’s Accident Benefit Rider","note":"Regular and Limited Premium only; can be added while at least five years of premium paying term remain; cover ends at end of premium paying term or age nearer birthday 70, whichever is earlier.","quote":"LIC’s Accident Benefit Rider is available as an Optional Rider under Regular Premium and Limited Premium payment policies only.","sources":[{"clause":"2","heading":"Rider Benefits","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-2-3"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"Section 45 applies: the policy cannot be questioned on any ground after three years from issuance, commencement of risk, revival or rider date, whichever is later; within three years it can be questioned on the ground of fraud, or of a material fact incorrectly stated or suppressed.","display":"Applies: cannot be questioned on any ground after three years","note":null,"quote":"The provisions of Section 45 of the Insurance Act 1938, as amended from time to time, shall be applicable. ... No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. ... A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later on the ground of fraud ... on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made","sources":[{"clause":"Section 45","heading":"of the Insurance Act 1938","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-section-45"},{"clause":"Section 45","heading":"as per the Insurance Act 1938","page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-section-45-2"},{"clause":"Section 45(d)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-section-45-d"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"not-stated","value":null,"display":null,"note":"The policy document and CIS only say taxes on premiums are collected separately and not counted in benefits; the sales brochure says to consult a tax advisor about income tax benefits.","quote":null,"sources":[],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"cross-checked","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund is the premium less proportionate risk premium for the period of cover, medical examination expenses and stamp duty.","quote":"During the Free Look Period of 30 days from the date of receipt of the electronic or physical mode of Policy Document, whichever is earlier","sources":[{"clause":"7","heading":"Free look period","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-7-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"cross-checked","value":{"unit":"days","amount":30},"display":"30 days","note":"Regular and Limited Premium payment policies only; stated for yearly or half yearly premiums.","quote":"A grace period of 30 days shall be allowed for payment of yearly or half yearly premiums from the date of First unpaid premium.","sources":[{"clause":"4","heading":"Grace Period (Applicable in case of Limited and Regular Premium payment policies only)","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum 18 years, maximum 65 years (age last birthday).","display":"18 to 65 years (last birthday)","note":"From the sales brochure.","quote":"a) Minimum Age at entry | : [18] years (Last Birthday) b) Maximum Age at entry | : [65] years (Last Birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-2"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Yearly","Half yearly"],"display":"Yearly or half yearly","note":"Regular and Limited premium policies. The policy document names only yearly or half yearly premiums (grace period clause); the sales brochure lists the modes.","quote":"A grace period of 30 days shall be allowed for payment of yearly or half yearly premiums ... In case of Regular and Limited Premium payment, the premium can be paid regularly during the Premium Paying Term with modes of premium payment Yearly or Half Yearly.","sources":[{"clause":"4","heading":"Grace Period (Applicable in case of Limited and Regular Premium payment policies only)","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-4-3"},{"clause":"4","heading":"PAYMENT OF PREMIUMS","page":4,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-4"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Single premium","Regular premium","Limited premium"],"display":"Single, Regular or Limited premium","note":null,"quote":"Whether Single Premium / Regular Premium / Limited Premium payment opted for?","sources":[{"clause":"Schedule","heading":null,"page":4,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-schedule"}],"law":[]},{"key":"return_of_premium","label":"Return of premium option","section":"Cover","meaning":"Whether premiums come back if you survive the term, and at what cost. 'No' only when the document says no maturity benefit is payable.","status":"cross-checked","value":"No. Nothing is paid if the life assured survives to the Date of Maturity.","display":"No; nothing is paid on survival to maturity","note":"No return of premium option is described.","quote":"No Maturity Benefit shall be payable on the Life Assured surviving the stipulated Date of Maturity.","sources":[{"clause":null,"heading":"Option II: Increasing Sum Assured","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-option-ii-increasing-sum-assured"}],"law":[]},{"key":"payout_options","label":"Payout options","section":"Cover","meaning":"Lump sum, monthly income, or a mix for your family.","status":"quote-verified","value":"Death benefit as a lump sum, or in instalments over 5, 10 or 15 years paid yearly, half-yearly, quarterly or monthly, for all or part of the claim, as chosen by the life assured.","display":"Lump sum, or instalments over 5, 10 or 15 years (yearly, half-yearly, quarterly or monthly)","note":"Only the Life Assured can choose it, during his/her lifetime. Minimum instalment Rs. 5,000 monthly, Rs. 15,000 quarterly, Rs. 25,000 half-yearly, Rs. 50,000 yearly; else lump sum.","quote":"This is an option to receive Death Benefit in instalments over the chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force policy. ... This option can be exercised only by the Life Assured during his/her lifetime, for full or part of the Death proceeds payable under the policy. ... The instalments shall be paid in advance at yearly or half-yearly or quarterly or monthly intervals","sources":[{"clause":"8","heading":"Option to take Death Benefit in instalments","page":10,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-8-3"}],"law":[]},{"key":"terminal_illness","label":"Terminal illness benefit","section":"Cover","meaning":"Whether part of the cover is paid early on diagnosis of a terminal illness.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"increasing_cover","label":"Increasing or life-stage cover","section":"Cover","meaning":"Options to raise cover over time or at marriage or childbirth.","status":"quote-verified","value":"Option II Increasing Sum Assured: death cover equals Basic Sum Assured for five policy years, then rises by 10% of Basic Sum Assured each year from the sixth to the fifteenth policy year until it is twice the Basic Sum Assured.","display":"Option II: rises 10% of Basic Sum Assured a year from year six to fifteen, up to twice the Basic Sum Assured","note":"Must be chosen at the start; no life-stage (marriage or childbirth) increase is described.","quote":"Absolute amount assured to be paid on death shall remain equal to Basic Sum Assured till completion of fifth policy year. ... Thereafter, it increases by 10% of Basic Sum Assured each year from the sixth policy year till fifteenth policy year till it becomes twice the Basic Sum Assured. ... The Death Benefit Option once chosen cannot be changed later","sources":[{"clause":null,"heading":"Option II: Increasing Sum Assured","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15#c-option-ii-increasing-sum-assured"}],"law":[]},{"key":"waiver_of_premium","label":"Waiver of premium","section":"Cover","meaning":"Whether future premiums stop on disability or critical illness.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"medicals","label":"Medical tests","section":"Eligibility","meaning":"Whether medical tests are needed, and at what cover.","status":"quote-verified","value":"A Urinary Cotinine test decides whether Non-Smoker premium rates apply; otherwise Smoker rates are charged.","display":"Urinary Cotinine test decides Non-Smoker rates","note":"From the sales brochure. Other underwriting requirements, if any, must be fulfilled; no sum assured limits for medical tests are printed. Medical examination charges are deducted on free-look cancellation.","quote":"The application of Non-Smoker rates shall be based on the findings of the Urinary Cotinine test. In all other cases, the Smoker rates will be applicable. ... Pay premium online and fulfil the underwriting requirements, if any.","sources":[{"clause":null,"heading":"LIC’s New Tech-Term (UIN: 512N351V02)","page":1,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-lics-new-tech-term-uin-512n351v02"},{"clause":"18","heading":"How to purchase LIC’s New Tech-Term","page":8,"url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17#c-18"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document","pages":15,"fetched_at":"2026-10-16 04:47:35.450065+00","source_url":"https://licindia.in/documents/20121/1243736/Policy+document_LIC%27s_New+Tech-Term_V02.pdf/0880e486-f66a-4d65-6c4b-9bc45253de0e?t=1732264536744","url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/15"},{"kind":"cis","label":"CIS LIC's New Tech-Term","pages":7,"fetched_at":"2026-10-16 04:47:35.812263+00","source_url":"https://licindia.in/documents/20121/1243736/CIS+_New+Tech+Term_V02.pdf/d9dca1e6-c360-8a1d-2aa3-284126e855ae?t=1732265279868","url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/16"},{"kind":"brochure","label":"Sales Brochure","pages":11,"fetched_at":"2026-10-16 04:47:36.508974+00","source_url":"https://licindia.in/documents/20121/290753/LIC_New+Tech+Term_Sales+Brochure_4+inch+x+9+inch_Eng+%282%29.pdf/d75b9948-b9e3-2ba1-9886-066a1bee6909?t=1741085687365","url":"https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02/document/17"}],"versions":[],"where_to_buy":[],"claims_and_complaints":[],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"LIC's New Tech-Term (UIN 512N351V02), IndiaInsurances, https://indiainsurances.com/policy/lic/lic-s-new-tech-term-512n351v02"}