{"uin":"512N356V02","name":"LIC's Digi Term","url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02","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 Digi 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, no surrender value and no loan. Cover can be level (Option I) or increasing (Option II, rising by 10% of Basic Sum Assured a year from the sixth to the fifteenth policy year up to twice the Basic Sum Assured), and the death benefit can be paid in instalments over 5, 10 or 15 years.","analysis":{"state":"extracted","analysed_at":"2026-10-16 04:48:11.319183+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":["Option I: Level Sum Assured","Option II: Increasing Sum Assured"],"display":"Option I: Level Sum Assured; Option II: Increasing Sum Assured","note":"The Death Benefit Option is chosen at the start and cannot be changed. Each can be taken as a Single, Regular or Limited Premium payment policy.","quote":"for both Level Sum Assured (Option I) as well as Increasing Sum Assured (Option II) ... The Death Benefit Option once chosen cannot be changed later and is as mentioned in the Schedule.","sources":[{"clause":"4","heading":"Surrender","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-4-3"},{"clause":null,"heading":"Option II: Increasing Sum Assured","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-option-ii-increasing-sum-assured"}],"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 15 years (Regular, Single or Limited Premium of 10 years) or 20 years (Limited Premium of 15 years); maximum 40 years under the Level Sum Assured option, subject to the maximum Age at Maturity.","display":"15 to 40 years","note":"From the sales brochure; the policy document and CIS leave it to the Schedule. Under Option II (Increasing Sum Assured) the maximum term depends on age and Basic Sum Assured band (brochure table).","quote":"Minimum Policy Term : 15 years under Regular/Single/ Limited Premium of 10 years : 20 years under Limited Premium of 15 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-digi-term-512n356v02/document/20#c-2"},{"clause":"2(g)(i)","heading":"Under Level Sum Assured death benefit option","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#c-2-g-i"},{"clause":"2(g)(ii)","heading":"Under Increasing Sum Assured death benefit option","page":3,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#c-2-g-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":"cross-checked","value":"The policyholder or claimant must tell the Corporation about the insured 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":12,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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, prior medical treatment records, school/college/employer's certificate; FIR, Panchnama and Post Mortem report for accidental 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, to the satisfaction of the Corporation. If the age is not admitted under the policy, the proof of age of the Life assured shall also be submitted. ... In case of unnatural death or death on account of or arising from an accident, 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":12,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"Death claims not requiring investigation: 15 days. Early death claims requiring investigation: 45 days for decision and payment.","display":"15 days (no investigation); 45 days for early death claims needing investigation","note":"From the CIS turn-around-time table; the policy wording itself 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-digi-term-512n356v02/document/19#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 revival: only 80% of the total premiums paid is payable"],"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 lists only the Suicide Exclusion).","quote":"If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk under the policy 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","sources":[{"clause":"2","heading":"Suicide Exclusion","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"cross-checked","value":"Complain first to the Branch Office or the Grievance Redressal Officers at Branch, Divisional, Zonal or Central Office (or through the customer portal or co_complaints e-mail). Death claim repudiations can be reviewed by the Zonal or Central Office Claims Dispute Redressal Committee. If there is no satisfactory response within 15 days, IRDAI's grievance department can be approached.","display":"Branch Office or Grievance Redressal Officers (Branch/ Divisional/ Zonal/ Central Office); claim repudiations to Claims Dispute Redressal Committee; IRDAI after 15 days","note":"CIS: complaints acknowledged immediately and decided within 14 days.","quote":"The Corporation has Grievance Redressal Officers (GROs) at Branch/ Divisional/ Zonal/ Central Office to redress grievances of customers. ... Claimants not satisfied with the decision of death claim repudiation have the option of referring their cases for review to Zonal Office Claims Dispute Redressal Committee or Central Office Claims Dispute Redressal Committee. ... In case the customer is not satisfied with the response or does not receive a response from us within 15 days","sources":[{"clause":"Section 45","heading":"of the Insurance Act 1938","page":12,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"Basic Sum Assured from Rs. 50,00,000 to Rs. 5,00,00,000; higher amounts may be considered case by case under underwriting.","display":"Rs. 50,00,000 to Rs. 5,00,00,000","note":"From the sales brochure; the policy document and CIS leave it to the Schedule. Sum assured is in set multiples that grow with the band.","quote":"e) Minimum Basic Sum Assured : Rs. 50,00,000/-. ... f) Maximum Basic Sum Assured : Rs.5,00,00,000* (*The Basic Sum Assured above Rs. 5,00,00,000 (Five Crore) may be considered on case to case basis in accordance with underwriting decision","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#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":"cross-checked","value":"Sum Assured on Death, which for Regular and Limited Premium payment policies is the highest of 7 times Annualised Premium, 105% of Total Premiums Paid up to the date of death, or the absolute amount assured on death (Basic Sum Assured, level or increasing by option).","display":"Highest of 7 times Annualised Premium, 105% of Total Premiums Paid, or the absolute amount assured (Basic Sum Assured)","note":"Single Premium: higher of 125% of Single Premium or the absolute amount. Option I keeps the absolute amount at Basic Sum Assured; Option II raises it by 10% of Basic Sum Assured a year from the sixth to the fifteenth policy year, to twice the Basic Sum Assured.","quote":"Under 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.","sources":[{"clause":"1","heading":"The following benefits are payable under an in-force policy","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"None. No Maturity Benefit is payable on surviving the term.","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":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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, Limited Premium of 10 years, Limited Premium of 15 years, or Single Premium.","display":"Regular, limited 10 or 15 years, or single premium","note":"From the sales brochure; the policy document and CIS leave it to the Schedule.","quote":"Premium Payment Term: Regular, Limited Premium of 10 years, Limited Premium of 15 years, Single Premium","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#c-2"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"75 years (last birthday).","display":"75 years","note":"From the sales brochure; the policy document and CIS leave it to the Schedule. Minimum maturity age is 33 years.","quote":"c) Minimum Age at Maturity : [33] years (Last Birthday) ... d) Maximum age at Maturity : [75] years (Last Birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#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 from commencement of risk or revival, 80% of the total premiums paid till death is paid, provided the policy is in force.","display":"80% of total premiums paid if suicide within 12 months of risk commencement or revival","note":"Single Premium policies: 80% of the Single Premium paid if suicide within 12 months of risk commencement. Not applicable to lapsed policies.","quote":"If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk under the policy 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 (excluding any extra premium, rider premium and taxes, if collected explicitly) till the date of death, provided the policy is in force.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":11,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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, Single Premium policies get the Unexpired Risk Premium Value at any time during the term; Limited Premium payment policies get it only after full premiums for at least three consecutive years; Regular Premium policies get nothing.","display":"No surrender value; Unexpired Risk Premium Value on Single Premium (anytime) and Limited Premium payment (after three years' premiums) policies only","note":"Single Premium factor K is 75% in year 1, 80% in year 2, 85% in year 3 and 90% thereafter; Limited Premium uses a 75% factor. No surrender value on riders.","quote":"A. No surrender value will be available under this Plan. ... a) Regular Premium policies: Nothing shall be payable. ... In case of Single Premium, Unexpired Risk Premium Value, if any, shall be payable on surrender of the policy, anytime during the Policy Term. ... Unexpired Risk Premium Value, if any, shall only be payable if full premiums have been paid for at least three consecutive years.","sources":[{"clause":"4","heading":"Surrender","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-4-3"},{"clause":"4(a)","heading":"Regular Premium policies","page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-4-a"},{"clause":"4(b)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-4-b"},{"clause":"4(c)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-4-c"}],"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":"None. There is no paid-up value under this plan.","display":"No paid-up value","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-digi-term-512n356v02/document/18#c-2-ii"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"cross-checked","value":"A lapsed policy can be revived within five consecutive complete years from the date of First Unpaid Premium, during the lifetime of the Life Assured and before maturity.","display":"Within five consecutive complete years from the date of First Unpaid Premium","note":"Requires all arrears with interest compounding half yearly (9.50% p.a. for 1 May 2024 to 30 April 2025) and Continued Insurability; the Corporation may decline or modify terms.","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","sources":[{"clause":"43","heading":"Revival Period","page":6,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-43"},{"clause":"3","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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. 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":10,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"not-stated","value":null,"display":null,"note":"The wording refers to Rider(s) if opted, but names no rider; CIS row 8 'Riders opted, if any' says Not Applicable.","quote":null,"sources":[],"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":"cross-checked","value":"After three years from the date of the policy it cannot be questioned on any ground; within three years it can be questioned on the ground of fraud, or on the ground that a fact material to the expectancy of life was incorrectly stated or suppressed, with the grounds communicated in writing.","display":"Cannot be questioned on any ground after three years; within three years only on fraud or material misstatement","note":"Section 45 text is printed as Annexure 3. On repudiation for misstatement (not fraud) within three years, premiums are refunded within ninety days.","quote":"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 ... 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 in the proposal or other document","sources":[{"clause":"Section 45","heading":"as per the Insurance Act 1938 as amended from time to time","page":16,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-section-45-2"},{"clause":"Section 45(d)","heading":null,"page":16,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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 documents only say taxes are charged on top of the premium and not counted for benefits; the sales brochure says to consult a tax advisor on 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":"Premium is refunded after deducting 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-digi-term-512n356v02/document/18#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. If death occurs within the grace period, the claim is paid less the unpaid premium.","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":"3","heading":"Grace Period (Applicable in case of Limited and Regular Premium payment policies only)","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-3-3"}],"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":"18 to 45 years (last birthday).","display":"18 to 45 years","note":"From the sales brochure; the policy document and CIS give no entry ages.","quote":"a) Minimum Age at entry : [18] years (Last Birthday) ... b) Maximum Age at entry : [45] years (Last Birthday)","sources":[{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#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 payment policies; a Single Premium is paid once. No other modes are listed (the sales brochure also gives Yearly or Half Yearly only).","quote":"A grace period of 30 days shall be allowed for payment of yearly or half yearly premiums","sources":[{"clause":"3","heading":"Grace Period (Applicable in case of Limited and Regular Premium payment policies only)","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-3-3"}],"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 payment"],"display":"Single, regular or limited premium","note":"Limited premium is paid for 10 or 15 years (from the sales brochure).","quote":"Whether Single Premium / Regular Premium / Limited Premium payment opted for? ... Premium Payment Term: Regular, Limited Premium of 10 years, Limited Premium of 15 years, Single Premium","sources":[{"clause":"Schedule","heading":null,"page":4,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#c-schedule"},{"clause":"2","heading":"ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#c-2"}],"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. No Maturity Benefit is payable on surviving the term, so premiums are not returned.","display":"No","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":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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":"cross-checked","value":"Lump sum, or (if the Life Assured opts during his/her lifetime) instalments over 5, 10 or 15 years paid yearly, half-yearly, quarterly or monthly, for all or part of the death proceeds.","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; the nominee cannot alter it. Minimum instalment Rs. 5,000 monthly, Rs. 15,000 quarterly, Rs. 25,000 half-yearly, Rs. 50,000 yearly, else paid in lump sum.","quote":"This is an option to receive Death Benefit in instalments over a period of 5 or 10 or 15 years instead of lump sum amount under an in-force 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-digi-term-512n356v02/document/18#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":"cross-checked","value":"Yes, through Option II: Increasing Sum Assured, chosen at the start. The death cover stays at Basic Sum Assured for five 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":"Yes, Option II: rises by 10% of Basic Sum Assured a year from the sixth to the fifteenth policy year, to twice the Basic Sum Assured","note":"Must be chosen at inception and cannot be changed later. No life-stage (marriage or childbirth) increase is mentioned.","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.","sources":[{"clause":null,"heading":"Option II: Increasing Sum Assured","page":7,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18#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; in all other cases Smoker rates apply.","display":"Urinary Cotinine test for Non-Smoker rates","note":"From the sales brochure. The documents do not say at what cover other medical tests are needed; free-look refunds deduct any medical examination expenses.","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.","sources":[{"clause":"1","heading":"KEY FEATURES","page":2,"url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20#c-1"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document","pages":17,"fetched_at":"2026-10-16 04:47:37.861817+00","source_url":"https://licindia.in/documents/20121/1243736/Policy+Document_LIC%27s_Digi+Term_V02.pdf/0797393b-4ddf-ac11-6cf2-a0fdea86d82c?t=1732264538490","url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/18"},{"kind":"cis","label":"CIS LIC’s Digi Term","pages":7,"fetched_at":"2026-10-16 04:47:38.220542+00","source_url":"https://licindia.in/documents/20121/1243736/CIS+_LIC%27s+Digi+Term_V02.pdf/79767c5c-ef43-8235-3342-7198e872fb3c?t=1732265278643","url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/19"},{"kind":"brochure","label":"Sales Brochure","pages":20,"fetched_at":"2026-10-16 04:47:39.031405+00","source_url":"https://licindia.in/documents/20121/1319704/Digi+Term+-+Sales+Brochure_April+25.pdf/31117c26-5e06-2f66-3c21-d92610e51051?t=1744863655602","url":"https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02/document/20"}],"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 Digi Term (UIN 512N356V02), IndiaInsurances, https://indiainsurances.com/policy/lic/lic-s-digi-term-512n356v02"}