LIC Digi Term Plan 876 – Key Features & Calculator Guide

Looking for Affordable Online Term Insurance?

LIC Digi Term Plan 876 is a pure term insurance plan offered by Life Insurance Corporation of India that provides high life coverage at affordable premiums. It is specially designed for customers who prefer buying insurance online through LIC’s official digital platform.

What Are the Key Features of LIC Digi Term Plan 876?

✔ Want pure life insurance protection?

This is a pure term insurance plan, which means it provides financial protection to your family without any maturity benefit.

✔ What death benefit options are available?

The plan offers two types of death benefit choices:

• Level Sum Assured
• Increasing Sum Assured

✔ Can you choose different premium payment options?

Yes. Flexible premium payment options are available based on your financial preference.

✔ Is the plan available offline?

No. LIC Digi Term Plan 876 is available only through LIC’s online platform.

✔ Are there special premium rates for women?

Yes. Female policyholders may receive lower premium rates.

✔ Is the death benefit guaranteed?

Yes. The plan offers guaranteed death benefits and is a non-participating plan.

What is LIC Digi Term Plan 876?

LIC Digi Term Plan 876 is an online pure risk life insurance product launched by Life Insurance Corporation of India to provide large financial protection at comparatively low premiums.

The plan is ideal for individuals looking for:

• High insurance coverage
• Affordable premiums
• Online policy purchase
• Flexible policy terms
• Family financial protection

What Makes LIC Digi Term Plan 876 Different?

✔ Want high coverage at low cost?

The plan provides a large sum assured with relatively affordable premiums.

✔ Prefer digital insurance purchase?

The policy is designed exclusively for online buying convenience.

✔ Need flexible coverage options?

You can customize premium payment and coverage according to your needs.

What Are the Main Plan Details?

Feature	Details
Minimum Sum Assured	₹50 Lakhs
Maximum Sum Assured	No Upper Limit
Policy Term	10 to 40 Years
Entry Age	18 to 65 Years
Maximum Coverage Age	Up to 80 Years
Plan Type	Pure Term Insurance
Maturity Benefit	Not Available

Does LIC Digi Term Plan 876 Offer Maturity Benefits?

No. Since this is a pure term insurance plan, there are no maturity or survival benefits if the policyholder survives the policy term.

The plan focuses entirely on providing life protection to the nominee.

Why Should You Use LIC Digi Term Plan 876 Calculator?

Want to estimate your premiums instantly?

The LIC Digi Term Plan 876 Calculator helps users calculate:

• Estimated premium amount
• Coverage details
• Policy benefits
• GST-inclusive premium
• Payment options

It simplifies insurance planning and helps compare different coverage choices easily.

What Are the Advantages of Using LIC Digi Term Plan 876 Calculator?

✔ Need quick premium calculations?

The calculator provides instant premium estimates within seconds.

✔ Want accurate estimates?

It reduces manual calculation errors and improves accuracy.

✔ Looking for convenience?

The tool can be accessed from mobile, laptop, or desktop devices anytime.

✔ Want to compare multiple options?

You can adjust coverage amount, policy term, and payment type to compare premiums easily.

How Does LIC Digi Term Plan 876 Calculator Work?

The calculator estimates premiums based on several important factors.

✔ What details affect the premium calculation?

Age of the policyholder

Younger individuals usually pay lower premiums.

Sum Assured

Higher coverage increases the premium amount.

Policy Term

Longer policy durations may affect premium rates.

Premium Payment Type

You can choose from:

• Regular Premium
• Single Premium
• Limited Premium

Smoking Status

Smokers generally pay higher premiums than non-smokers.

GST Charges

Applicable taxes are added to the premium amount.

The calculator uses LIC’s official premium rate structure for estimation.

Sample LIC Digi Term Plan 876 Calculation

Suppose a 35-year-old non-smoker wants ₹1 crore coverage. What happens?

Example Inputs:

Input	Value
Age	35 Years
Sum Assured	₹1 Crore
Policy Term	20 Years
Smoking Status	Non-Smoker
Premium Frequency	Yearly

What will the calculator show?

The calculator instantly provides:

• Estimated annual premium
• GST-inclusive premium amount
• Coverage details
• Death benefit information

This helps users understand affordability before purchasing the policy.

Who Should Consider LIC Digi Term Plan 876?

✔ Are you the primary earning member of your family?

This plan helps secure your family financially in your absence.

✔ Want affordable high-value coverage?

The policy offers large life cover at relatively lower premiums.

✔ Prefer online policy management?

Everything from purchase to premium estimation can be done digitally.

✔ Looking for straightforward insurance protection?

This pure term plan focuses completely on financial security without investment complexity.

Important Points to Remember

• No maturity benefit is available
• Premium depends on age and health profile
• Smoking status significantly impacts premium
• Online purchase only
• Higher coverage generally offers better financial security

How to Use LIC Digi Term Plan 876 Calculator?

Want to calculate your term insurance premium online easily?

The LIC Digi Term Plan 876 Calculator helps users estimate premiums, coverage, and policy benefits quickly without complicated manual calculations.

Step-by-Step Guide to Use LIC Digi Term Plan 876 Calculator

✔ Step 1 – Open the Official Calculator

Visit the official website of Life Insurance Corporation of India or trusted financial platforms that provide the calculator tool.

What Personal Details Need to Be Entered?

✔ Step 2 – Fill in Basic Information

You will need to provide:

• Age
• Gender
• Smoking status
• Name (optional)

These details help determine your insurance risk profile and premium amount.

How to Select Coverage and Policy Duration?

✔ Step 3 – Choose Sum Assured and Policy Term

What coverage amount can you choose?

The minimum sum assured starts from ₹50 lakh, and there is no upper limit.

What policy term options are available?

You can choose a policy duration between:

• 10 years
• 40 years

depending on your financial goals and protection needs.

Which Premium Payment Options Are Available?

✔ Step 4 – Select Premium Payment Type

The plan offers flexible premium payment choices:

Regular Premium

Pay premiums throughout the policy term.

Single Premium

Make a one-time lump sum payment.

Limited Premium

Pay premiums only for a limited number of years.

What Results Does the Calculator Show?

✔ Step 5 – View Premium Details

The LIC Digi Term Plan 876 Calculator displays:

• Base premium
• GST amount
• Total premium payable
• Monthly, quarterly, half-yearly, or yearly premium options

Helpful Tip

Try different combinations of:

• Policy term
• Sum assured
• Payment type

to find the most affordable and suitable plan.

What Are the Major Benefits of LIC Digi Term Plan 876?

✔ Looking for affordable pure protection?

Since LIC Digi Term Plan 876 is a pure term insurance plan, premiums are generally lower compared to savings or investment-linked policies.

✔ Need flexible premium payment options?

The plan supports:

• Regular premium
• Single premium
• Limited premium

✔ Want additional protection?

An accidental benefit rider option is available for extra coverage.

✔ Prefer complete online convenience?

The policy purchase and servicing process can be handled digitally.

How Does Digi Term Plan 876 Compare with Other LIC Term Plans?

Feature	Digi Term Plan 876	Other LIC Term Plans
Availability	Online Only	Online & Offline
Minimum Sum Assured	₹50 Lakh	₹25 Lakh
Maximum Entry Age	65 Years	Usually up to 65 Years
Maximum Coverage Age	80 Years	Generally up to 80 Years
Riders Available	Accidental Rider	Multiple Rider Options

What Are the Eligibility Criteria?

✔ Who can apply for the plan?

Criteria	Details
Entry Age	18 to 65 Years
Minimum Sum Assured	₹50 Lakh
Policy Term	10 to 40 Years
Nationality	Indian Citizens

Medical examinations may be required for higher coverage amounts or older applicants.

Which Documents Are Required?

✔ Keep these documents ready before applying:

• Age proof
• Aadhaar Card / PAN Card / Passport
• Address proof
• Income proof (for high coverage)
• Medical reports (if required)

How is the Premium Calculated?

The premium calculation mainly depends on:

• Age
• Sum assured
• Policy term
• Smoking status
• GST rates

Premium Formula

$text{Premium}=frac{(text{Rate per thousand}times text{Sum Assured})}{1000}+text{GST}$Premium=1000(Rate per thousand×Sum Assured)​+GST

Important Points

• Non-smokers usually receive lower premiums
• Smokers generally pay higher premiums
• GST is charged as per government rules

What Factors Affect Your Premium Amount?

✔ Does age matter?

Yes. Younger individuals usually pay lower premiums.

✔ Does higher coverage increase premium?

Yes. Larger sum assured means higher premium payments.

✔ Does smoking status affect cost?

Absolutely. Smokers are considered higher risk and pay more.

✔ Does policy duration impact premium?

Longer policy terms can increase premium costs.

✔ Does payment frequency matter?

Yes. Annual, quarterly, monthly, and half-yearly modes may slightly affect total payable amount.

How to Buy LIC Digi Term Plan 876 Online?

✔ Simple Online Buying Process

1. Visit the official LIC online portal
2. Fill the online application form
3. Use the calculator to estimate premium
4. Upload required documents
5. Pay premium online
6. Complete medical examination if required
7. Receive the policy digitally

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What Are the Pros and Cons of LIC Digi Term Plan 876 Calculator?

Pros

• Saves time
• Easy to use
• Instant premium comparison
• Transparent calculations
• No agent required for estimation

Cons

• Final premium may change after underwriting
• Rider premiums may not always be included automatically
• Medical reports can affect actual premium

Useful Tips Before Buying Term Insurance

✔ Compare multiple scenarios

Use different combinations of policy term and coverage amount before deciding.

✔ Provide accurate health details

Incorrect smoking or medical information may affect claims.

✔ Consider accidental rider benefits

Additional riders can improve overall protection.

✔ Verify final premium with LIC

Always confirm the official premium quote before final purchase.

✔ Contact customer support if needed

For technical or policy-related doubts, contact Life Insurance Corporation of India support services.

Quick Reference Table

Parameter	Minimum	Maximum	Notes
Entry Age	18 Years	65 Years	Applicant age
Sum Assured	₹50 Lakh	No Limit	Higher cover may need medical tests
Policy Term	10 Years	40 Years	Coverage available up to age 80
Premium Payment	Regular	Single/Limited	Multiple payment frequencies

Frequently Asked Questions (FAQs)

What is LIC Digi Term Plan 876 Calculator?

It is an online premium estimation tool that helps users calculate premiums and benefits for LIC Digi Term Plan 876.

Is the premium shown final?

No. Final premiums may change after medical checks and underwriting.

Can smokers use the calculator?

Yes. Smokers can calculate premiums, but rates are generally higher.

What information is required?

You need:

• Age
• Sum assured
• Policy term
• Smoking status
• Premium payment type

Is the calculator free to use?

Yes. It is available free on official LIC and financial websites.

Can the calculator be used multiple times?

Yes. You can compare unlimited combinations of coverage and policy terms.

Final Thoughts

The LIC Digi Term Plan 876 Calculator makes insurance planning simpler, faster, and more transparent. It allows buyers to compare premiums, customize coverage, and make informed financial decisions before purchasing LIC Digi Term Plan 876 online.

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