LIC term plans do not have any maturity benefit. Offers Annual Survival Benefit from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. Mention the required details like name, contact number, email ID, DoB, type of investment plan you want to opt for, annual income, address details. What is sum assured in LIC? It is the most trusted brand that deals in a wider range of life insurance products. This plan has an average premium, high bonus rate, and great liquidity feature.