LIC’s Tech Term: How to buy online

LIC’s Tech Term How to buy online

Published: September 2, 2019 at 1:46 pm

Last Updated on

Here is how you can buy LIC’s Tech Term online step by step. Kindly note that at the time of writing (2nd Sep 2019), the purchase portal is still new. You may expect them to test it and make some changes in the next few days. Therefore, for now, use it to compute the premium and make a proposal. If you do not receive a reference number for your proposal then please contact LIC support.

Refer to this post for sample premium illustrations: LIC’s Tech Term Premium is still expensive compared to private insurer policies!

LIC’s Tech Term plan is a non-linked, without profit, pure protection ‘Online Term Insurance Policy.  Min sum assured: 50 Lakh. Max: Unlimited. You can pay a premium each year, once or for a limited period. Always choose regular (each year). For other choices, see below.

  1. Go to LIC Direct
  2. Choose Lic’s Tech Term from the list
LICs Tech Term How to buy online step one

3. Choose “click to buy online

LICs Tech Term How to buy online step two click to buy online

4. Enter Details to get access token for premium calculation. Do not use real phone number if you are not serious about buying.

LICs Tech Term How to buy online step three enter details to get access token

5 enter the access token to login

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LICs Tech Term How to buy online step four enter OTP for acess ID

6 Enter personal details. Use regular premium payment option and level sum assured. Do not use increasing sum assured!!

LICs Tech Term How to buy online step five enter personal details

7 Click calculate the premium to get results

LICs Tech Term How to buy online step six check premium details

8 Confirm details and click on “generate lead”

LICs Tech Term How to buy online step seven confirm and generate lead

9 You will then be given a proposal reference number via email/mobile. You can use that to find the status of your proposal via this link

LICs Tech Term How to buy online step eight policy proposal status
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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman(PhD) is the author and owner of freefincal.com.  He is an associate professor at the Indian Institute of Technology, Madras since Aug 2006. Pattu” as he is popularly known, has co-authored two print-books, You can be rich too with goal based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management.  He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. Pattu publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year (2.5 million page views) with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis. He conducts free money management sessions for corporates  and associations(see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints, TamilNadu Investors Association etc. Contact information: freefincal {at} Gmail {dot} com (sponsored posts or paid collaborations will not be entertained)
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1 Comment

  1. Dear Sir,
    Thanks for the writing. Its a neat one.
    But after the step 9, nothing is explained further.

    When you click on Generate Lead, its lands on the page shown in step 9. When you enter your access Id, it lands on a page headed as ‘Proposal Details’ with many info and nothing is been filled, neither its editable on any info is given on how to proceed further. The details it has are as Reference Number, Registration Date, BOC Number, Proposal Number, Proposal Status etc, but nothing is filled except a Reference Number(which doesnt seems to be a correct one too).

    As usual the LIC support line is Busy. Any idea or guidance, please

    Thanks again Sir

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