Best 1 Crore Term Insurance Plans

A term insurance plan for INR 1 crore is quite trending these days. Various insurance companies are pushing 8 figures returns on their long-term investment to use it for their children's higher studies, relaxed retired life, and what not to attract people off lately. Indeed, a crore rupees in return sounds ultra fancy and a dream to come true for anybody but there various questions that surround the mind of consumers at the time of buying term insurance that is it certainly possible to get a crore rupees in return for such low premium, do insurance companies really payout 1 crore premium as promised or is it really for me?

Well, the number of questions may be more but the answer to all of them is one- Yes Yes & Yes. The basic maths to calculate the sum insured of your term insurance should be based on the calculation of the present value of all future expenses and goals reduced by accumulated wealth. putting in simpler terms, the whole cost of your current desires should be assumed in the future cost considering the inflation that takes place in all sectors such as medical, retail, education and etc.

Hence, whatever you desire to have in your life should be calculated as per the expected future price whether it is buying a house or your child's education or could be anything. Everyone likes the idea of an economically stable life having good amenities and facilities but in case you are the one who always dreamt of a lavish life then 1 crore is a must for you to meet the expenses for you and your family.

Having an INR 1 crore term insurance to reduce the financial burden from your family and fulfill your and their desires is just one aspect, wherein it comes with a whole bunch of benefits for consumers looking to have a wise and smart investment portfolio.

1. Cost Effective

   The foremost thing to be evaluated by everyone is to have an insurance plan which comes light on their pockets and INR 1 crore term insurance plan definitely is a cost-effective form of life insurance. Considering the fact that term insurance plans are completely life cover schemes minus the saving component hence the premium of term insurance is quite affordable vis-a-vis other life cover plans. And if bought at an early age then the premium decreases to a greater extent. Another bonus point is that its premium cost remains the same throughout the payment duration which makes the payment quite affordable for customers. Therefore most of the INR 1 crore plans you come across quoting a few hundred and thousands of cost.

2. Easy Accessible

   While talking about crore(s), people often consider this amount out of financial capacity or it is meant for people with higher incomes. But on the contrary, an INR 1 crore term insurance is certainly accessible for the masses without any disparity in terms of age or class or income. Most of the term insurance companies have made their 1 crore plan pool accessible for middle or upper-middle, employed, or self-employed people who are having a basic income of INR 5 lakh. Also, these plans are eligible for people starting from the age of 25 years to ensure that customers out there get the maximum benefit from this plan.

   

3. Easy Alternative

   The INR 1 crore term insurance plan is helpful in alternative ways than just life cover. These plans usually come with additional rider benefits which can financially support during dire times. Accidental death or disability, premium waiver, critical illness, hospital cash benefit are a few riders to name which come with a marginal additional cost. These riders can cover you from various unforeseen challenges in life which require hospitalization and medical attention.

Top Ten 1 Crore Term Insurance Plans