1 Crore Term Life Insurance Plan
  • Why You Should Choose This Plan?
  • Eligibility and Comparison of Plans
  • How to Choose A Right Plan?

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1 Crore Term Plan

There is no doubt in saying that nowadays the living standard of the people has already become quite expensive as the prices are growing high with the necessities. Everyone wants to lead a good lifestyle. Gone are the days when people used to be afraid when it came to buy an insurance plan. In today’s world, to provide ultimate protection to their family, people are moving towards insurance and mostly for the term insurance plan.

What Is Term Insurance?

Term insurance policies are popularly known as death benefit policies which are specifically designed to provide financial support to the family members of the insured in case of an unfortunate event. It is not necessary that only the people with good pay can take advantage of it, even a person with an average payout can also get this cover at a nominal premium.

Who Should Opt For Rs. 1 Crore Term Plan?

Any individual of the age group between 30-35 years and the only earning member of the family is included in the category of people who should go for a term life insurance with cover of Rs. 1 crore to protect the future of their family in case of his/her demise or any unfortunate incident.

1 Crore Term Life Insurance Plans

In India, there are many insurance companies that deal in term insurance plans with a cover of Rs 1 crore. In the initial days of the plan premium displayed by several insurance companies went through a rate war ranging. But after the new regulations passed by IRDA, insurers have reduced the premium rates for a cover of 1 crore or more. Even the insurance companies of the private sector, such as ICICI Prudential life, HDFC Life, Birla Sun Life are providing quite lower rates around Rs.15000. Whereas, LIC provides a rate of around Rs. 25000 to 32000. On comparing various insurance companies, it is necessary to check the underwriting norms as many private insurance companies can ask for lower premiums but with stringent rules.

Which Is The Right Policy?

It might be difficult for you to search for the best term insurance plan as there are several insurance companies which claim to be best in the industry. While searching for an effective term insurance policy, it is advisable for you to look for its benefits, exclusions, inclusions, features, etc. thoroughly so that you can compare them easily. Don’t compare them on the basis of premium, search for other relevant things which are more important. It is true that premium rate is important to be taken care about, but, it is not the only thing to be looked at. Search out for something which is best for you and your family’s future. You must also look for available riders under the policy. Most important thing you should not forget is to check the claim settlement ratio, this will provide more ease at the time of filing claim.

Comparison Of Plans Offering 1 Crore Term Insurance

Being the best and the most simplest form of life insurance, term insurance is available with several companies and most of the companies offers cover of more than Rs 1 crore. People should understand that there are many ways through which one can rate any particular insurance product. By far, the most important criteria would be the claim settlement ratio of the insurer. So, in the table below you’d find a gradation and rating of the best term insurance plans available in India.

CompanyPlan InfoPlan BenefitsPremium
Max Life InsuranceSmart Term PlanComplete online process
One time payment
HDFC LifeClick 2protect 3D Plus Life OptionNo monthly payout
One time payment
ICICI PrudentialIprotect Smart Lump Sum PlanMonthly income or lump sum benefit
Inbuilt terminal illness cover
Edelweiss Life TokioTotal Secure+Accelerated Critical Illness Cover
Discount for non
smoker, female lives and Higher Sum Assured
Future Generali Life InsuranceFlexi Online Term PlanOne Time: Rs. 10,000,000 on death
Life cover till the age of 75
Max Life InsuranceOnline Term Plan Plus Life Cover
Monthly Income
Monthly income of Rs. 40,000 for 10 years
One Time: Rs. 10,000,000 on death

A Brief Detail About Plans That Are Stated Above

  1. Max Life Online Term Plan Plus

    This plan offers a secure financial future for your loved ones, with protection against the risks of death, disease, and disability. A trusted brand since you will be associated for 35-40 years with the brand.

  2. HDFC Life Click 2 Protect 3D Plus

    It is an online term insurance plan that offers comprehensive security at an affordable price. 3D stands for the three uncertainties that you face at some point in time, i.e. death, disability, and disease. With this online term policy, ensure that your family is protected financially if an unexpected eventuality occurs. HDFC Life Click 2 Protect 3D Plus offers a wide range of 9 plan options to help one choose as per their need. All future premiums are waived on accidental total permanent disability (available under all options) and on the diagnosis of critical illness (available under 3d life & 3d lifelong protection options).

  3. ICICI Pru iProtect Smart

    It is an award-winning term plan that aims to give protection to your loved ones along with an added financial protection to you against 34 critical illnesses up to Rs.1 Cr. and an accidental death cover up to Rs.2 Cr.

  4. Edelweiss Tokio Life – Total Secure+

    It is a comprehensive online term insurance plan which provides life cover and covers against 35 critical illnesses. It provides comprehensive protection that secures your family and also fulfills your need for critical illness insurance. This online term insurance plan comes with multiple customization options. You can choose the life cover, critical illness benefit, policy term, premium paying term and pay out options.

  5. Future Generali Flexi Online Term Plan

    It offers a monthly income on your death until the time when you would have turned 60 or for 10 years whichever is higher. Moreover, you can also choose the lump sum payout option.

  6. Max Life Online Term Plan Plus

    It is a pure term plan with three death benefit options. 1. Max Life Online Term Plan Plus Basic Life Cover, 2. Max Life Online Term Plan Life Cover + Monthly Income, 3. Max Life Online Term Plan Life Cover + Increasing Monthly Income.

Choosing An Appropriate Term Insurance

Unlike traditional life insurance policies which provide insurance for the entire life, you need to be more choosy with term insurance as they are for a limited period of time. It is true that premium is an important thing to consider, but they are not the only aspect. One needs to pay attention to the exclusion list, benefits and other terms of coverage. Checking with real-life cases and speaking to the insurance agents is also helpful to find out the claim settlement ratio and time. An insurance policy which takes a long time to provide benefits will not be helpful for your family in any manner. So, choose wisely.

Written By : Naval Goel

Last Updated : December, 2020

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

Find Out What PolicyX.com Customers Says

(Showing latest 5 reviews only)

- 4.5/5 (208 Total Rating)

June 18, 2021

Rohan Kumar


Thanks to policyx. I called them to compare plans and I get a good guidance about ICICI Pru. This plan helped me a lot in my crisis

June 16, 2021

Victor Dutta


I m really happy with the riders provided by Max Life. I bought a term plan and the riders just make sure that I have a thorough cover.

June 16, 2021

Sanjeev Roy


I went to file a claim at Max Life. I was thoroughly impressed by their support. They made sure that I got my due and I m so thankful.

June 16, 2021

Dilip Kumar


Very simple, very quick management. I can sleep well knowing my family will be taken care of financially now

June 16, 2021

Rupa Kakoti


Their customer service is at par. Everything was very well explained to me and my queries answered. Thank You!

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