Life Insurance Corporation of India (LIC) e-Term is an online term plan, which is cheaper than its offline version, but you will not get the cheapest premium. It is positioned as a premium product. LIC is using the brand and perceived trust it brings. If you are non-smoker who wishes to buy online term plan of Rs50 lakh or more, then LIC e-Term will help to save nearly 40% premium when compared to LIC’s offline plan. Even though LIC e-Term key features specify ‘Differential premium rates for smoker and non-smoker lives’, it is applicable only for sum assured of Rs50 lakh and...
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