A plain-language explanation of Plan 876, UIN 512N356V02: who can apply, how premiums are paid, what the family receives if death occurs during the term, and why nothing is paid if the insured survives to maturity.
Digi Term is an online-only, non-participating, non-linked individual pure-risk plan. It provides life cover during the selected term; it is not a savings or investment plan.
The customer chooses the protection structure first. LIC then assesses the proposal. Cover continues only while the policy remains in force.
LIC's brochure says the payable premium depends on:
Non-smoker rates depend on the urinary cotinine test. In other cases, smoker rates apply. Taxes and any underwriting extra premium are additional.
The premium-paying term and policy term are different. A limited-pay customer can finish paying earlier while the life cover continues until the selected policy term ends, provided the policy remains in force.
Pay premiums throughout the policy term. Available payment frequency: yearly or half-yearly.
Pay for 10 years. The policy term can be longer; minimum policy term is 15 years.
Pay for 15 years. The minimum policy term for this choice is 20 years.
Pay once at inception. Minimum single premium is ₹30,000, excluding taxes.
The figures below reproduce LIC's sample for a ₹50 lakh Basic Sum Assured, 20-year policy term, non-smoker male standard life. They are not a quotation. Taxes are excluded.
| Entry age | Regular annual | Limited pay 15 annual | Limited pay 10 annual | Single premium |
|---|---|---|---|---|
| 20 | ₹3,600 | ₹4,100 | ₹5,200 | ₹37,750 |
| 30 | ₹4,700 | ₹5,400 | ₹6,950 | ₹50,850 |
| 40 | ₹9,400 | ₹10,850 | ₹14,050 | ₹1,04,900 |
| Entry age | Regular annual | Limited pay 15 annual | Limited pay 10 annual | Single premium |
|---|---|---|---|---|
| 20 | ₹4,650 | ₹5,350 | ₹6,850 | ₹50,100 |
| 30 | ₹6,600 | ₹7,650 | ₹9,850 | ₹72,950 |
| 40 | ₹14,400 | ₹16,750 | ₹21,700 | ₹1,63,250 |
Actual premium may differ because of the selected cover, term, payment choice, age, gender, smoking status, underwriting, taxes and the product rates applicable when LIC accepts the proposal.
The policy pays only for an admissible death claim occurring after commencement of risk and before maturity while the policy is in force.
The Sum Assured on Death is the highest of:
The Sum Assured on Death is the higher of:
Cover stays at the Basic Sum Assured for the first five policy years. From policy year 6 it rises by 10% of the Basic Sum Assured each year until it reaches twice the Basic Sum Assured in policy year 15. It then stays at that level.
The eligible Sum Assured on Death is paid, subject to the policy being in force and the claim being admissible. The life assured may choose during their lifetime to have all or part of the death benefit paid to the nominee over 5, 10 or 15 years.
The policy ends and no maturity benefit is payable. There is no return of premium, survival payout or accumulated investment value.
30 days from receipt of the electronic or physical policy document, subject to the deductions stated in the policy.
30 days for yearly or half-yearly premiums. A death during grace remains covered under the policy terms, after applicable premium deductions.
A lapsed regular or limited-pay policy may be revived within five complete years and before maturity, subject to LIC's conditions and approval.
None. This plan does not convert into a reduced paid-up policy.
No policy loan is available.
No surrender value generally. An Unexpired Risk Premium Value may apply to single-premium policies and to limited-pay policies after at least three consecutive full years of premium, as calculated under the policy.
No amount is payable on surrender of a regular-premium policy.
For death by suicide within the applicable first 12 months, the policy specifies 80% of eligible premiums paid rather than the normal death benefit, subject to its conditions.
Age, health, smoking and all material information must be disclosed accurately. LIC may accept, modify or decline cover through underwriting.
These three supplied LIC PDFs are attached locally at the bottom as requested. Read the Customer Information Sheet first for a short overview, then use the policy wording for the binding terms. If any summary conflicts with the policy document, the policy document prevails.
Quick reference for the benefit, maturity outcome, exclusions, grace period, servicing and claims.
Download CIS PDFDetailed contractual wording covering benefits, premium payment, lapse, revival, surrender, exclusions and claims.
Download policy PDFEligibility, policy terms, premium options, sample premiums, rebates and other product features.
Download brochure PDFDocument set: LIC Digi Term Plan 876, UIN 512N356V02. Reviewed by Underpitch on 04 Sep 2026. Product rules and rates can change; verify the current version through LIC's official term-assurance page before applying.
