LIC Digi Term Plan 876 Calculator: Premium, Premium Chart and Plan Details

What is LIC Digi Term Plan 876?

LIC Digi Term Plan 876 is a pure term insurance plan that you buy directly on LIC’s website, without an agent. It is non-linked (no market investment) and non-participating (no bonus). You pay a premium, and if you die during the policy term, LIC pays your nominee the sum assured on death. If you outlive the term, the policy simply ends.

That simple design is why term cover is the cheapest way to buy a large life cover. Digi Term 876 (UIN 512N356V02) is one of LIC’s current online term plans, alongside New Tech Term 954. Its offline twin is Yuva Term 875, sold through agents.

Digi Term 876 at a glance

Feature	Details
Plan number / UIN	876 / 512N356V02
Plan type	Online pure term, non-linked, non-participating
Entry age	18 to 45 years
Policy term	15 to 40 years
Maximum age at end of cover	75 years
Minimum sum assured	₹50,00,000
Death benefit options	Level or increasing sum assured
Premium payment	Regular, limited (10 or 15 years) or single
Maturity benefit	None
Where to buy	Online only

Eligibility

Condition	Minimum	Maximum
Age at entry	18 years	45 years
Policy term	15 years	40 years
Age when cover ends	—	75 years
Basic sum assured	₹50 lakh	Subject to underwriting (calculator goes to ₹5 crore)

Higher covers and older applicants usually need medical tests and income proof. Smoking status is declared on the proposal and tested where LIC asks for it.

How the Digi Term 876 premium is calculated

The calculator follows the sample premiums in LIC’s Digi Term sales brochure: ₹50 lakh of cover for a male non-smoker, 20-year term, at entry ages 20, 30 and 40, for regular, limited (15 or 10 years) and single premium, level and increasing cover. For example, LIC quotes ₹4,700 a year for a 30-year-old taking level cover, and the calculator gives exactly that. The rate depends on age, gender, smoking habit and the death benefit option. The steps are:

1. Rate for your age. Ages between the brochure ages are interpolated, so a 35-year-old gets a rate between the 30 and 40 values; ages above 40 extend the same trend.
2. Term adjustment. Longer terms cover older ages, when mortality is higher, so the premium rises with the term.
3. Payment type. Limited and single premiums start from LIC’s own limited and single samples.
4. High sum assured rebate. LIC’s rebate depends on age and cover: for level cover and regular pay it is 18% (age up to 30) or 16% (31–45) from ₹1 crore, 30% or 28% from ₹2 crore, and 37% or 33% from ₹5 crore. Below ₹1 crore there is none. Half-yearly payment adds 2%.

Women (about 10% less) and smokers (about 20% more) are our estimates, since LIC publishes samples only for male non-smokers. 5. No GST. Individual life insurance is GST-exempt from 22 September 2025, so the figure shown is what you pay. Before that date, term premiums carried 18% GST.

Worked example. A 30-year-old male non-smoker wants ₹1 crore of level cover for 30 years, till age 60:

• Yearly premium: about ₹9,988
• Total paid over 30 years: about ₹2,99,640
• Same profile, female: about ₹8,989 a year
• Same profile, smoker: about ₹11,986 a year

Starting early makes a real difference. For a 30-year term and ₹1 crore cover, the premium is about ₹8,742 at age 25 but about ₹20,464 at age 40.

Tip: pick a term that runs until your youngest child is independent and your home loan is paid off. Cover beyond that point costs money but protects less.

Limited and single premium

If you would rather finish paying while your income is steady, you can choose limited pay. A 35-year-old man who takes ₹1 crore cover for 25 years pays about ₹20,874 a year for 10 years (about ₹2,08,740 in all). A single premium for the same cover is about ₹1,56,119. Regular pay for the same case works out to about ₹12,764 a year for 25 years. It costs less each year but more in total.

Death benefit

On the death of the life assured during the term, the nominee receives the sum assured on death as a lump sum. Under the level option this is the basic sum assured throughout. Under the increasing option, cover stays level for the first five years, then rises by 10% of the basic sum assured each year until it doubles in the 15th year, and stays there. For a 30-year-old man with ₹1 crore increasing cover over 25 years (the longest LIC allows at that age and cover), the calculator shows about ₹13,471 a year against ₹8,811 for level cover, with cover reaching ₹2 crore.

The death benefit is never less than 105% of the premiums paid up to the date of death.

Maturity and other benefits

There is no maturity benefit and no survival benefit. Because it is a pure term plan, there is also no loan facility. A regular-premium policy that lapses has no surrender value. Single and limited premium policies may carry a small surrender value as per the policy terms.

Tax benefits

Premiums qualify for deduction under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old tax regime, up to ₹1.5 lakh a year in total). The death claim received by the nominee is exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).

Who should buy Digi Term 876, and who should skip it

Good fit if you:

• earn and have dependants, a spouse, children or parents, who rely on your income;
• have a home loan or other large debt;
• are comfortable buying online and want LIC’s claim record behind the cover.

Skip it or look elsewhere if you are older than 45 (see New Tech Term 954, which accepts higher entry ages) or if you only want to protect a reducing loan balance. For that, Digi Credit Life 878 can be cheaper.

Digi Term 876 compared with other LIC term plans

Plan	Channel	Entry age	Cover till	Note
Digi Term 876	Online	18–45	75	Aimed at younger buyers
Yuva Term 875	Agents / offline	18–45	75	Offline twin of 876
New Tech Term 954	Online	18–65	80	Wider age band
e-Term 825	Online	18–60	75	Old plan, withdrawn

On LIC’s brochure figures, Digi Term 876 is the cheapest of the three at ₹1 crore and above, thanks to lower rates and a larger high sum assured rebate: ₹9,988 a year in the ₹1 crore example above, against about ₹11,837 under New Tech Term 954 and ₹12,645 under Yuva Term 875. Yuva Term’s own brochure puts it about 27% above Digi Term before rebates, reflecting agent distribution.

To compare premiums across plans side by side, try the general LIC term plan calculator.

How to use this calculator

1. Pick gender and smoking status and enter your age.
2. Set the policy term. The field stops you from going past age 75.
3. Enter the sum assured you need. Ten to fifteen times your yearly income is a common starting point.
4. Choose level or increasing cover and the payment type.
5. Read the yearly premium and total outlay. The premium chart below the calculator shows ₹1 crore rates for other ages and terms.

These are estimates built on LIC’s Digi Term brochure samples, not LIC quotes. LIC’s final premium depends on underwriting, medical results and the rates in force on the date you buy.