Mohammed - the simple answer is, Yes, this 'tech term plan' does look attractive and would be a serious challengers to the online term plans from private insurers. However, we need to wait till the plan is launched and then look at all the information. basunivesh.com has a good article on this plan. Please read it up for more analysis.
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Here is the article by Basavraj Tongatti that SR Srinivasan is referring to - LIC’s Tech-Term (No.854) – Online Term Life Insurance Review.
Here are the concluding thoughts by the author in the above article:
Considering the market competition in online term life insurance plans, LIC launched this plan with the utmost care and including the many features which are already available in the market:
Sachin Shah is a 30 year old Senior Software Engineer, working at an IT services company in Bengaluru. He and his wife want to plan for their retirement and also want to save for their child's education, wedding and for buying a car.View Case Study