LIC Digi Term Plan 876 Calculator
LIC Digi Term Plan 876 Calculator
Online-Only Pure Risk Term Plan — Comprehensive Death Cover for Your Family
Enter Your Details
Indicative premiums based on sample data for Non-Smoker, Male, BSA ₹50 Lakh, Policy Term 20 years
Indicative Premium
Excluding taxes & including 18% GST | Non-Smoker, Male | PT 20 yrs basis
Death Cover Summary
Death cover details for the selected option
Actual Sum Assured on Death = highest of: (a) Absolute death cover shown, (b) 7× annualised premium, or (c) 105% of total premiums paid. For single premium: higher of 125% of single premium or absolute death cover.
Death Cover vs. Premium Paid
Year-wise death cover (bars) and cumulative premium paid (line)
Year-wise Illustration
Annual premium and death cover for each policy year
| Policy Year | Age | Ann. Premium (incl. 18% GST) | Cumulative Premium (excl. GST) | Death Cover (Absolute) |
|---|
LIC Digi Term Plan 876 Calculator – Details Guide
The LIC Digi Term Plan 876 Calculator helps you estimate premiums, compare life cover options, and understand the protection available under LIC’s online term insurance plan.
Before buying a term policy, most people want clear answers: How much cover do I need? What premium will I pay? Which death benefit option is better for my family?
This calculator helps answer those questions quickly.
LIC Digi Term Plan 876 is a pure term insurance plan designed to provide financial security to your family if something happens to you during the policy term. Unlike savings plans, money-back plans, or endowment policies, this plan focuses entirely on protection.
That is why it can offer high life cover at relatively affordable premiums.
LIC Digi Term 876 Premium Calculator
The calculator estimates premiums based on factors such as age, smoking status, policy term, sum assured, and premium payment option.
Instead of manually comparing multiple combinations, you can instantly view estimated costs and choose a suitable level of protection.
Premium Calculation Results
The calculator generally estimates:
- Annual premium
- Monthly premium
- Total premium payable
- Applicable rebates
- Death benefit details
Quick Plan Summary
| Feature | Details |
| Plan Name | LIC Digi Term Plan 876 |
| Plan Type | Pure Term Insurance |
| Purchase Mode | Online Only |
| Minimum Sum Assured | ₹50 Lakh |
| Standard Maximum Sum Assured | ₹5 Crore* |
| Maturity Benefit | Not Available |
| Loan Facility | Not Available |
| Death Benefit Options | Level & Increasing Sum Assured |
*Higher limits may be available subject to LIC underwriting rules.
What is LIC Digi Term Plan 876?
LIC Digi Term Plan 876 is a Non-Linked, Non-Participating, Individual Pure Risk Life Insurance Plan available exclusively through LIC’s online platform.
Its purpose is straightforward.
To provide financial protection for your family during the policy term.
There are no maturity benefits, bonuses, guaranteed additions, or money-back payouts. The policy is designed purely to provide life insurance coverage.
Key Features of LIC Digi Term 876
- Available exclusively online
- High life insurance coverage
- Level Sum Assured option
- Increasing Sum Assured option
- Special premium rates for women
- Separate rates for smokers and non-smokers
- Multiple premium payment options
- Death benefit instalment facility
- High Sum Assured rebates
Many first-time buyers see the absence of maturity benefits as a disadvantage. In reality, this is one reason the plan can offer much larger life cover at a lower premium.
LIC Digi Term 876 Quick Overview
The plan is suitable for individuals whose income supports family members, home loans, children’s education, or long-term financial obligations.
A common mistake is investing for wealth creation while remaining underinsured.
Term insurance often serves as the financial foundation that protects all other goals.
Why Use a LIC Digi Term Plan 876 Calculator?
A calculator removes guesswork.
Instead of selecting coverage based only on premium affordability, you can compare different sum assured amounts and understand their impact on long-term protection.
Using the calculator helps you:
- Estimate premium costs
- Compare policy terms
- Select suitable life cover
- Compare death benefit options
- Understand long-term affordability
The goal should not be finding the cheapest premium.
The goal should be securing adequate protection for your family.
LIC Digi Term Plan 876 Eligibility Criteria
Before using the calculator, it helps to understand the plan’s eligibility requirements.
Entry Age, Policy Term & Sum Assured
| Criteria | Details |
| Minimum Entry Age | 18 Years |
| Maximum Entry Age | 45 Years |
| Maximum Maturity Age | 75 Years |
| Minimum Sum Assured | ₹50 Lakh |
The right sum assured depends on income, liabilities, future family expenses, and financial responsibilities.
Premium Payment Options
The plan offers four premium payment choices:
- Regular Premium
- Limited Premium (10 Years)
- Limited Premium (15 Years)
- Single Premium
Each option suits a different financial situation.
Some buyers prefer lower annual commitments, while others prefer completing premium payments early.
Smoker and Non-Smoker Categories
Premium rates differ for smokers and non-smokers.
Women are also eligible for special premium rates under the plan.
Providing accurate information during application is extremely important because incorrect disclosures may affect future claim settlements.
How LIC Digi Term 876 Calculator Works
The calculator applies official plan rules and premium structures to estimate policy costs and benefits.
Required Inputs
You generally need:
- Age
- Basic Sum Assured
- Policy Term
- Premium Payment Term
- Premium Payment Mode
- Death Benefit option
- Smoking status
Premium Calculation Method
Premiums are influenced by:
- Age at entry
- Policy term
- Sum assured selected
- Smoking status
- Gender
- Premium payment option
Even small changes in these inputs can significantly affect premium costs.
Death Benefit Calculation Method
The calculator also estimates protection under different death benefit options.
Policyholders can choose between:
- Level Sum Assured
- Increasing Sum Assured
Each option is designed for different long-term protection needs.
Sample Premium Illustration
Age: 30 Years
Category: Non-Smoker
Policy Term: 30 Years
Sum Assured: ₹1 Crore
The calculator estimates premiums under different payment options and compares protection available under both death benefit structures.
This helps buyers make informed decisions before purchasing.
Step-by-Step Guide to Use LIC Digi Term Calculator
Using the calculator takes only a few minutes.
Enter Personal Details
Provide your age, gender, and smoking status.
Select Sum Assured and Policy Term
Choose the life cover amount and policy duration that fit your financial goals.
Choose Premium Payment Option
Select Regular, Limited, or Single Premium according to your preference.
View Premium and Benefit Results
The calculator instantly displays estimated premiums and policy details for comparison.
LIC Digi Term Plan 876 Benefits
This plan is built around one objective: financial protection.
Death Benefit
The death benefit is payable if the life assured dies during the policy term while the policy remains in force.
The amount can help support:
- Household expenses
- Children’s education
- Outstanding loans
- Future family needs
Level Sum Assured Option
Under this option, the Basic Sum Assured remains unchanged throughout the policy term.
Basic Sum Assured = ₹1 Crore
Death Benefit = ₹1 Crore
This option is simple and easy to understand.
Increasing Sum Assured Option
Under this option, the Basic Sum Assured increases by 10% of the original Basic Sum Assured every year from the 6th policy year to the 15th policy year.
The cover can reach up to 200% of the original Basic Sum Assured.
Original Sum Assured = ₹1 Crore
Maximum Death Benefit = ₹2 Crore
This feature helps address the impact of inflation over long periods.
Instalment Benefit Option
At policy inception, the policyholder may choose to have the death benefit paid to the nominee in instalments.
Available payout periods include:
- 5 Years
- 10 Years
- 15 Years
This can provide a regular income stream for dependents.
Tax Benefits
Premiums paid and benefits received may qualify for tax benefits under prevailing income tax laws, subject to applicable conditions.
High Sum Assured Rebate
Higher coverage amounts may qualify for premium rebates, making large life cover more cost-effective.
Level Sum Assured vs Increasing Sum Assured
| Feature | Level Sum Assured | Increasing Sum Assured |
| Life Cover | Fixed | Increases Over Time |
| Inflation Protection | Limited | Better |
| Simplicity | High | Moderate |
| Future Family Needs | Fixed | Growing |
| Suitable For | Stable Responsibilities | Long-Term Responsibilities |
For younger individuals with growing responsibilities, Increasing Sum Assured can be worth considering.
Important Features and Limitations
Understanding limitations is just as important as understanding benefits.
No Maturity Benefit
No maturity amount is payable if the life assured survives the policy term.
No Loan Facility
Policy loans are not available.
No Traditional Surrender Value
The plan does not provide traditional surrender benefits.
Eligible policies may receive an Unexpired Risk Premium Value according to policy provisions.
Suicide Exclusion Clause
If death occurs due to suicide within 12 months from commencement or revival, claim settlement is governed by the policy’s suicide clause provisions.
Documents Required to Buy LIC Digi Term 876
The online application process generally requires:
- PAN Card
- Aadhaar Card
- Identity Proof
- Address Proof
- Income Documents
- Photograph
- Bank Details
Additional documents may be required based on underwriting requirements.
Steps to Buy LIC Digi Term Plan 876 Online
Digi Term 876 is designed as an online-only policy.
The purchase process generally involves:
- Visit LIC’s online portal.
- Select Digi Term Plan 876.
- Enter personal and coverage details.
- Upload required documents.
- Complete underwriting requirements.
- Pay the premium online.
- Receive policy confirmation.
Pros and Cons of LIC Digi Term Plan 876
Advantages
- High life cover
- Affordable premiums
- Online purchase process
- Increasing Sum Assured option
- Special rates for women
- Separate smoker and non-smoker rates
Limitations
- No maturity benefit
- No loan facility
- No traditional surrender value
- No savings component
Who Should Buy LIC Digi Term Plan 876?
The plan may be suitable for:
- Salaried professionals
- Business owners
- Self-employed individuals
- Home loan borrowers
- Young parents
- Individuals with financial dependents
If your family depends on your income, term insurance should be one of the first financial products you consider.
Common Mistakes to Avoid
Many people choose life cover based only on premium affordability.
That approach often results in inadequate protection.
Another common mistake is expecting maturity benefits from a pure term insurance plan.
Digi Term is designed for protection, not investment.
The value lies in the financial security it provides to your family.
Frequently Asked Questions (FAQs)
What is LIC Digi Term Plan 876?
It is an online pure term insurance plan that provides death benefit protection during the policy term.
What is the minimum Sum Assured under LIC Digi Term?
The minimum Basic Sum Assured is ₹50 lakh.
What is the difference between Level and Increasing Sum Assured?
Level Sum Assured remains unchanged. Increasing Sum Assured grows by 10% of the original cover each year from the 6th to the 15th policy year, up to 200% of the original Basic Sum Assured.
Can I buy LIC Digi Term 876 through an LIC agent?
No. The plan is designed for online purchase through LIC’s digital platform.
Does LIC Digi Term 876 provide maturity benefits?
No. There is no maturity benefit on survival.
Is a medical test required?
Medical requirements depend on age, health profile, sum assured, and underwriting guidelines.
Can smokers apply for LIC Digi Term 876?
Yes. Separate premium rates apply for smokers and non-smokers.
Can NRIs purchase LIC Digi Term Plan 876?
Eligibility depends on LIC’s prevailing rules and underwriting guidelines.
Can I take a loan against LIC Digi Term Plan 876?
No. Loan facility is not available.
Final Verdict & My Point of View
The LIC Digi Term Plan 876 Calculator is one of the easiest ways to estimate premiums and evaluate life cover before purchasing the policy. It helps compare death benefit options, understand premium commitments, and choose a protection level that matches your family’s needs.
The plan focuses entirely on financial protection. There are no maturity benefits, bonuses, or investment features. Instead, it offers substantial life cover, flexible premium payment options, and a choice between Level and Increasing Sum Assured structures.
Before purchasing, use the calculator to compare multiple coverage amounts and policy terms. A few minutes spent reviewing different scenarios today can help ensure your family remains financially protected for years to come.
Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily.