Formula
P = (T − R) × S / 1000
I = P × (1 + l) / f
T = A / (ä × (1 − λ))
where
- P
- annual premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000: a percentage of T set by entry age and sum assured (nil on smaller policies)
- S
- Basic Sum Assured
- I
- each instalment
- l
- modal loading: nil yearly, 2% half-yearly
- f
- instalments a year: 1 or 2
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays
- ä
- present value of ₹1 a year, paid at the start of each year of the premium paying term while you are alive
- λ
- expense loading, 35%
*Source LIC Digi Term brochure (PDF)
In short (tl;dr)
Digi Term is LIC's pure term plan sold only on licindia.in. It covers ages 18 to 45 for ₹50 lakh to ₹5 crore, pays nothing on survival, and the figures here are for a non-smoking man.
Worked example: at 40, ₹50,00,000 of cover over 20 years costs ₹9,400 a year for 20 years.
Did you mean Yuva Term? Buying through an agent? That is Yuva Term (875), the same cover sold offline at a higher premium. Open the Yuva Term calculator (Plan 875).
What is LIC Digi Term?
Digi Term (Plan 876) is a non-linked, non-participating pure risk plan. If the life assured dies during the policy term while the policy is in force, LIC pays the Sum Assured on Death. If they survive the term, nothing is paid and the policy ends.
There are two death benefit options, fixed at purchase. Level Sum Assured keeps the cover at the Basic Sum Assured for the whole term. Increasing Sum Assured holds it level for five years, then adds 10% of the Basic Sum Assured each year from the sixth to the fifteenth, reaching twice the original and staying there. This calculator prices Level Sum Assured.
Premiums can be paid every year of the term, for 10 or 15 years only, or as one single premium, yearly or half-yearly. LIC sets the rate by age, smoking status, gender, term, premium paying term and death benefit option. Its brochure prints sample premiums for a non-smoking man only, so that is the life this calculator prices.
Above ₹1 crore a high sum assured rebate comes off the tabular premium as a percentage, 16% to 37% depending on entry age and size. At ₹2 crore a 30-year-old pays 30% less per ₹1,000 than at ₹50 lakh.
Key features
- Bought online only, directly on licindia.in
- Entry age 18 to 45, cover ending by age 75
- Basic Sum Assured ₹50 lakh to ₹5 crore, higher on underwriting
- Level or Increasing Sum Assured, chosen at purchase
- Regular, 10-year, 15-year or single premium
- Separate non-smoker and smoker rates, and special rates for women
- Death benefit can be taken in instalments over 5, 10 or 15 years
Digi Term at a glance
- Plan number
- 876
- Category
- Term Insurance
- Entry age
- 18 to 45 years
- Policy term
- 15 to 40 years
- Premium paying term
- Same as policy term on this calculator; LIC also sells 10 or 15 years, or a single premium
- Sum assured
- ₹50 Lakh to ₹5 Crore
- Maximum maturity age
- 75 years
- UIN
- 512N356V02
We checked the plan number and UIN above against LIC's own page for this plan on 2026-10-02. Check it on licindia.in
What are the benefits of LIC Digi Term?
What does LIC Digi Term pay on death?
On regular and limited premium, the highest of 7 times the annualised premium, 105% of total premiums paid to the date of death, and the absolute amount assured (the Basic Sum Assured under Level Sum Assured). On single premium, the higher of 125% of the single premium and the absolute amount assured.
What do you get at maturity?
None. No maturity benefit, no paid-up value and no loan. A regular premium policy has no surrender value; single and limited premium policies may return an Unexpired Risk Premium Value.
Who is LIC Digi Term for?
Someone aged 18 to 45 who wants ₹50 lakh or more of cover, is comfortable buying online, and has dependants who would need the money.
What should you watch out for?
The quote here is for a non-smoking man. LIC charges smokers more and women less, and its brochure does not say by how much, so treat this as the non-smoker male rate only.
What does LIC Digi Term cost?
Worked out on a 20-year term with premiums paid for 20 years, for a non-smoking man. Change any of these in the calculator above for your own figures.
By sum assured, at age 40
| Sum assured | Premium a year | Total paid in |
|---|---|---|
| ₹50,00,000 | ₹9,400 | ₹1,88,000 |
| ₹1,00,00,000 | ₹15,792 | ₹3,15,840 |
| ₹2,50,00,000 | ₹33,840 | ₹6,76,800 |
Premiums are modelled on this plan's own tabular rates. This is a pure protection plan, so there is no maturity value.
By age, on ₹50,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in |
|---|---|---|
| 25 years | ₹4,028 | ₹80,557 |
| 30 years | ₹4,695 | ₹93,893 |
| 40 years | ₹9,400 | ₹1,88,000 |
Age moves this premium a long way: ₹4,028 at 25 becomes ₹9,400 at 40, 2.3 times as much. Most of it pays for the risk of dying during the term, and that risk climbs with age.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 7 Sample Illustrative Premium, Option I (Level Sum Assured), regular premium, non-smoker male), at ₹50,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 20 years |
|---|---|
| 20 | ₹3,600 |
| 30 | ₹4,700 |
| 40 | ₹9,400 |
Priced on ₹50,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 40, 20-year term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Who can take LIC Digi Term?
Age to start
- Minimum
- 18 years
- Maximum
- 45 years
Policy term
- Minimum
- 15 years
- Maximum
- 40 years
Age when the policy matures
- Maximum
- 75 years
Your age at entry plus the policy term cannot come to more than 75.
Years you pay for
- Premium paying term
- Same as the policy term
Sum assured
- Minimum
- ₹50,00,000
- Maximum
- ₹5,00,00,000
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 2 of the Digi Term sales brochure, linked in the form above.
Tax on LIC Digi Term
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹50,00,000 policy priced above costs ₹9,400 a year, which is 0.2% of the sum assured. That is inside the 10% test, on both provisions. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Digi Term is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹1.88 per ₹1,000 at age 40, 20-year term, 20-year premium term
- Discount basis
- 7.34% a year, on LIC (2012-14) Ultimate mortality scaled to 55% for this plan's underwritten pool
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Digi Term on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Digi Term compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Digi TermNo. 876 · this page | 15 to 40 years | The full term | ₹50 Lakh | LIC's online-only term plan for buyers aged 18 to 45, from ₹50 lakh of cover. |
| Yuva TermNo. 875 | 15 to 40 years | The full term | ₹50 Lakh | The agent-sold twin of Digi Term: ₹50 lakh and up of cover for ages 18 to 45. |
| New Tech-TermNo. 954 | 10 to 40 years | The full term | ₹50 Lakh | LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent. |
| Bima KavachNo. 887 | 10 to 82 years | The full term | ₹2 Crore | High-value term cover from ₹2 crore, running as long as age 100. |
| New Jeevan AmarNo. 955 | 10 to 40 years | The full term | ₹25 Lakh | Tech-Term's agent-sold twin: the same pure cover, sold through agents until LIC withdrew it. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Digi Term: frequently asked questions
How much does LIC Digi Term cost for ₹50 lakh?
LIC's brochure prints ₹3,600 a year at age 20, ₹4,700 at 30 and ₹9,400 at 40, for a 20-year term on regular premium, non-smoking man, before tax. Paying for 15 years instead raises that to ₹4,100, ₹5,400 and ₹10,850.
Is Digi Term the same as Yuva Term?
The benefits, eligibility and options are the same. Digi Term (876) is sold only online; Yuva Term (875) only through agents, brokers and other intermediaries. LIC's printed premiums for Yuva Term run about 25% higher: ₹5,950 against ₹4,700 a year at age 30 for ₹50 lakh over 20 years.
What is the high sum assured rebate in Digi Term?
A percentage off the tabular premium. Up to entry age 30 it is nil below ₹1 crore, 18% from ₹1 crore, 30% from ₹2 crore and 37% from ₹5 crore. From 31 to 45 it is 16%, 28% and 33%. Single premium and Increasing Sum Assured have their own, slightly smaller tables.
Can I pay Digi Term premiums monthly?
No. Regular and limited premiums can be paid yearly or half-yearly only, and half-yearly costs 2% more over the year.
Does Digi Term pay anything back if I survive?
No. It is pure protection: nothing is paid at the end of the term, and a regular premium policy has no surrender value.
Can my family take the Digi Term death benefit in instalments?
Yes, if you choose it during your lifetime. All or part of the claim can be paid over 5, 10 or 15 years, yearly, half-yearly, quarterly or monthly, with a minimum instalment of ₹5,000 a month or ₹50,000 a year. LIC resets the interest rate each May to the 10-year government bond yield less 2%. The Digi Term brochure, dated April 2025, prints 5.07% for May 2024 to April 2025; LIC's newer brochures, under the same rule, give 4.62% for May 2025 to April 2026 and 5.11% for May 2026 to April 2027.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Digi Term before deciding.
Yuva Term
No. 875The agent-sold twin of Digi Term: ₹50 lakh and up of cover for ages 18 to 45.
Open calculatorNew Tech-Term
No. 954LIC's online term plan: level cover from ₹50 lakh, bought direct with no agent.
Open calculatorBima Kavach
No. 887High-value term cover from ₹2 crore, running as long as age 100.
Open calculatorNew Jeevan Amar
No. 955Tech-Term's agent-sold twin: the same pure cover, sold through agents until LIC withdrew it.
Open calculator