LIC's New Term Assurance Rider (UIN 512B210V02) adds ₹1 lakh to ₹25 lakh of extra death cover to a non-linked LIC policy, bought only at the start of the base policy. Nothing is paid on survival. For ₹10 lakh of rider cover, a 30-year-old pays about ₹2,580 a year for 20 years, or ₹2,920 a year over a 10-year limited term, with no GST.
New Term Assurance Rider Premium Calculator
Your estimate
paid on top of the base policy benefit
- Premium per instalment
- ₹2,580
- Years you pay
- 20 years
- Total premium paid
- ₹51,600
- Estimated maturity amountpure term cover: nothing is paid if you survive
- ₹0
- Cover ends at age
- 50 years
- Total premium paid₹51,6005%
- Life cover₹10,00,00095%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC’s New Term Assurance Rider?
LIC’s New Term Assurance Rider (UIN 512B210V02) is a non-linked, non-participating rider. It gives extra life cover on top of a traditional LIC policy. If the life assured dies during the rider term, the nominee receives the rider sum assured in addition to the base policy’s death benefit. Nothing is paid under the rider if the policyholder survives.
It suits people who buy an endowment or money back plan and want more protection without a separate term policy. It is available only with non-linked plans, not with ULIPs.
Rider at a glance
| Feature | Details |
|---|---|
| UIN | 512B210V02 |
| Type | Non-linked, non-participating term assurance rider |
| Entry age | 18 to 60 years |
| Cover ceasing age | 75 years |
| Rider term | 5 to 35 years, within the base policy term |
| Rider sum assured | ₹1 lakh to ₹25 lakh, not above the base sum assured |
| Premium | Regular, limited or single, same as the base policy |
| When to add | Only at the start of the base policy |
| Maturity benefit | None |
| Status | Available with eligible LIC plans |
How the rider premium is calculated
LIC charges a premium per ₹1 lakh of rider cover that depends on age, rider term and premium type. The calculator reads that rate, interpolating between the ages in the rate table, multiplies it by the cover in lakhs and applies the payment mode.
Worked example (₹10 lakh rider cover, age 30):
| Premium type | Rider premium | Paid for | Total paid |
|---|---|---|---|
| Regular, 20-year term | ₹2,580 a year | 20 years | ₹51,600 |
| Limited, 20-year term, 10-year pay | ₹2,920 a year | 10 years | ₹29,200 |
| Single, 20-year term | ₹27,570 once | 1 payment | ₹27,570 |
Age makes a big difference. For the same ₹10 lakh over 20 years on regular premium, a 40-year-old pays ₹5,930 a year (₹504 a month), and a 50-year-old about ₹13,690 a year. At 35, a 25-year term costs ₹5,650 a year.
The calculator covers terms of 10 to 35 years, which is what the available rate tables support. It shows “not available” where the tables have no rate, for example limited premium above age 50.
Tip: the rider premium stops when the base policy’s premiums stop. With a limited-pay base plan, the rider also becomes limited pay, so compare the total paid rather than the yearly figure.
A note on the rate tables
In our source, the limited and single premium tables were about ten times the regular rates for the same cover (a single premium of ₹10,810 per lakh for 10 years, against ₹181 a year on regular premium). That cannot be right, and the figures fit only as premiums per ₹10 lakh. We divided them by 10. All results are estimates; LIC’s quotation is final.
Death benefit
- Regular or limited premium: the highest of the rider sum assured, 7 times the annualised rider premium, or 105% of rider premiums paid until death.
- Single premium: the higher of the rider sum assured or 125% of the single premium.
In practice the rider sum assured is almost always the highest figure, so a ₹10 lakh rider pays ₹10 lakh on top of the base plan’s claim.
Rules to know before you add it
- The rider must be chosen when the base policy is issued; it cannot be added later.
- The rider sum assured cannot exceed the base sum assured, and all your LIC term riders together are capped at ₹25 lakh.
- The rider term cannot go beyond the base policy term, and cover ends by age 75.
- If the base policy lapses or is surrendered, the rider ends too.
Tax and GST
Rider premiums count towards Section 123 of the Income-tax Act, 2025 (earlier Section 80C) along with the base premium under the old tax regime, and a death claim is tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). Before 22 September 2025, rider premiums carried GST; from that date individual life insurance premiums, including riders, are exempt.
Rider or a separate term plan?
For small top-ups of cover on a policy you are buying anyway, the rider is simple. For cover above ₹25 lakh, or cover that should outlast your savings plan, a standalone term plan such as LIC New Tech-Term 954 usually works out cheaper. Compare with our term plan calculator, and look at the Accident Benefit Rider if accident cover is what you need.
Frequently asked questions
What is the LIC New Term Assurance Rider?
It is an optional add-on that pays an extra lump sum to your nominee if you die during the rider term. It is attached to a non-linked LIC base policy, such as an endowment or money back plan, and its premium is paid along with the base premium.
How much does the LIC term rider cost?
It depends on age, term and payment type. For ₹10 lakh of rider cover over 20 years, a 30-year-old pays about ₹2,580 a year on regular premium; a 40-year-old pays about ₹5,930 a year, or ₹504 a month. No GST applies from 22 September 2025.
Can I add the term rider to an existing LIC policy?
No. The rider can only be chosen when the base policy starts. It cannot be added to a policy that is already running, so decide on it at the proposal stage.
What is the maximum cover under the term rider?
The rider sum assured can be ₹1 lakh to ₹25 lakh, but not more than the base policy's sum assured. The ₹25 lakh limit also applies to the total of all term assurance riders you hold with LIC.
Does the term rider pay anything on maturity?
No. It is pure protection. If you survive the rider term, nothing is paid under the rider, although your base policy still pays its own maturity or survival benefits.
What is the death benefit under the rider?
For regular and limited premium, it is the highest of the rider sum assured, 7 times the annualised rider premium, or 105% of rider premiums paid. For single premium, it is the higher of the rider sum assured or 125% of the single premium.
Is a term rider better than a separate term plan?
A rider is convenient and adds cover without a second policy, but it is capped at ₹25 lakh and ends when the base policy's premiums stop. For larger or longer cover, a standalone term plan is usually cheaper per lakh and more flexible.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.