₹1 Crore Term Insurance 2026: Premium by Age and Best Plans

₹1 Crore Term Insurance Plan 2026: Premium, Best Plans & CSR

A ₹1 Crore term insurance policy provides a death benefit of ₹1 crore to the nominee upon the demise of the life insured during the policy term. With the rising rates of inflation, a ₹1 Crore term insurance plan is an ideal amount for your family to sustain their lives in your absence.

We have listed some term plans with a sum assured of ₹1 crore, highlighting their unique features and their respective claim settlement ratios.

How a ₹1 Crore Term Insurance Plan Works

Often, people do not understand the importance of having a term insurance plan or the need to invest in a term plan with a high cover amount.

Let’s understand how a term plan with ₹1 Crore coverage works with an example:

Rahul is a 30-year-old working professional who earns ₹10 lakhs annually. He spends ₹2.5 lakhs yearly to fulfill his family’s requirements. Suppose Rahul has purchased a term plan of ₹1 crore with a policy term of 30 years. He also has a home loan of ₹50 lakhs in his name. He met with a sudden accident and lost his life.

Now, his family members face the burden of paying the loan and managing other family expenses. In such a crisis, the sum assured from his ₹1 Crore term insurance policy will provide financial relief.

As the nominee under this policy, Rahul's family will receive the death benefit. This will help them cover their day-to-day expenses and repay outstanding loans.

Is ₹1 Crore Term Insurance Enough?

₹1 crore is enough if it covers 10 to 15 times your annual income plus your loans. If you earn more or have a home loan, consider ₹1.5 to 2 crore.

Best ₹1 Crore Term Insurance in India in 2026

Below is a list of the 10 best term insurance plans in India that can help you choose the right term insurance policy for you.

We have considered various factors to make this list available for you, including:

• Brand Value of the Insurer: The brand value refers to how well-known the insurer is based on its brand recognition and the annual premiums of the company declared by the IRDAI in the 2023-24 annual report.
• CSR (Claim Settlement Ratio): Claim Settlement Ratio indicates the percentage of claims the insurer has settled during the financial year against the total number of claims they received.
• Affordability: It refers to how budget-friendly the plan is.

*Lowest starting monthly premium for ₹1 crore cover for a 30-year-old non-smoker male. The actual premium depends on the policy term, payment option, and riders. For premiums with cover till age 60, see the age-wise table below.

Overview of Top ₹1 Crore Term Plans in India

Here is an overview of the best ₹1 Crore term insurance plans:

1. Axis Max Life Smart Term Plan Plus

Axis Max Life Smart Term Plan Plus is a flexible plan that lets you choose the right cover type that fits your life stage, so your ₹1 crore cover can change as your needs change.

This plan provides a Special Exit Value - 2X of the Premiums Paid. You can choose from the following 7 plan options:

• Regular Cover
• Rebalancing Cover
• Early ROP Plus
• Smart Cover
• Return of Premium
• Whole Life Cover
• Income Protection Cover

It is one of the best term insurance plans with a return of premium option available.

Best for: Buyers who want ₹1 crore cover with the option of getting money back (Return of Premium) or lifelong protection (Whole Life Cover).

Why Choose Axis Max Life Smart Term Plan Plus?

• Inbuilt terminal illness cover.
• Special Exit Value - 2X of the Premiums Paid.
• Cover continuance benefit.
• Instant payment on claim intimation.
• Additional rider options to choose from.
• Whole life coverage.
• Special discount for female policyholders.

2. HDFC Life Click 2 Protect Super

HDFC Life Click 2 Protect Super plan is a flexible plan that adapts to your needs over time, whether you want maturity benefits or higher cover at key life stages. It lets you build a ₹1 crore cover with extra protection added in.

It offers multiple built-in benefits, such as an increased death benefit option, a waiver of premium on critical illness diagnosis, a joint life option, a life stage option, and much more. It offers three plan options, allowing policyholders to select the protection level:

• Life & Critical Illness Rebalance
• Life Protect
• Income Plus

Why Choose HDFC Life Click 2 Protect Super for a ₹1 Crore Term Plan?

• Provides acceleration of death benefit on diagnosis of covered terminal illness till 80 years.
• Enhance your sum assured amount by up to 200% under the ‘Life Option’.
• Cover your spouse under a single plan by paying additional premiums.
• Flexibility to select the payout option as monthly installments.
• With the ROP plan option, get back all premiums paid as a maturity benefit.

3. Future Generali Express Term Life Plan

A customizable online term plan that lets you tailor your ₹1 crore cover as per your protection needs. You choose one of four options, depending on how much protection you want:

• Life Cover
• Extra Life Cover
• Life Plus Health
• All-in-One Cover

Why Choose Future Generali Express Term Life Plan for your ₹1 Crore Term Insurance Plan?

• Flexibility to choose premium payment terms between limited pay or regular pay.
• Offers special premium rates for women and non-smoking users.
• Coverage against death, disability, and disease.
• Future premiums shall be waived, and the policy will continue in the event of Accidental Total and Permanent Disability (ATPD).
• Extra payout upon the diagnosis of any critical/terminal illness.

4. Tata AIA Maha Raksha Supreme

Tata AIA Maha Raksha Supreme is a flexible term plan with seven payout options. You can also avail whole life cover with this term plan. This plan offers a special discount on first-year premiums to salaried individuals. It also offers whole life cover. You can choose from the options:

• Life Secure Option
• Life Secure Plus Option
• Joint Life Secure Option
• Joint Life Secure Plus Option
• Step-up Secure Option
• Step-up Secure Plus Option
• Legacy Secure Plus Option

Why Choose Tata AIA Maha Raksha Supreme for ₹1 Crore Cover?

• 50% of the base sum assured is provided on the diagnosis of listed critical illnesses.
• Inbuilt waiver of premium on terminal illness.
• Joint life option to cover your spouse under the same plan.
• Instant payout on claim intimation.
• Option to increase cover for a specific period during the policy tenure.

5. Tata AIA Sampoorna Raksha Promise

Tata AIA Sampoorna Raksha Promise is a pure term plan that gives your family financial protection in case of your untimely death. You can choose a ₹1 crore cover that suits your situation, whether you are covering only yourself or you and your partner together.

There are 4 plan options available for policyholders to choose from:

• Life Promise
• Life Promise Plus
• Joint Life Promise
• Joint Life Promise Plus

Why Choose Tata AIA Sampoorna Raksha Promise for a ₹1 Crore Term Plan?

• Option to choose whole life coverage.
• Inbuilt waiver of premium on the diagnosis of terminal illness.
• Flexibility to choose joint life coverage.
• Instant payout on claim intimation.
• Special premium discount for female policyholders.
• Choose how your family will receive death benefits - lump sum or in installments.

6. ICICI i-Protect Smart Lump Sum Plan

ICICI i-Protect Smart Lump Sum is a customizable online term plan that lets you shape your ₹1 crore cover around your needs. You can pick the protection you want by choosing one of the optional benefit options.

It is one of the best online term insurance plans in India.

Why Choose ICICI i-Protect Smart Lump Sum Plan for ₹1 Crore Term Cover?

• Offers coverage against death, terminal illness, and disability.
• Special premium rates for non-tobacco users and women.
• Get a guaranteed discount on your first year’s premium if you’re a salaried individual.
• Flexible premium payment term: Regular pay or Limited pay.
• Flexibility to select payout option, as a lump sum, as a monthly income for 10/20/30 years, or a combination of lump sum & monthly income.

7. Bajaj e Touch II

Bajaj e Touch II is a simple online term plan with three variants, so you can pick the one that fits how you want your ₹1 crore cover to work. It covers death and terminal illness.

• Life Shield
• Life Shield Plus
• Life Shield ROP

This plan offers coverage against death and terminal illnesses. You have the option to get your premiums back as part of the maturity benefits. It is one of the best pure term insurance plans that you can purchase online.

Why Choose Bajaj e-Touch II Term Plan for a ₹1 Crore Term Insurance?

• Flexible premium payment options - Limited/Regular pay.
• Extra benefits are paid to the nominee in case of death due to an accident.
• Option to choose how your family receives death benefits - lump sum, monthly income, or a combination of both.
• Premium holiday option to skip your premiums for 1, 2, or 3 years.
• Option to delay premiums by 12 months with auto cover continuance benefit.
• Flexible premium payment frequency allows you to pay monthly, quarterly, half-yearly, and yearly premiums.

8. Bharti AXA Life Flexi Term Pro Plan

Bharti AXA Life Flexi Term Pro is a customizable term plan that lets you add riders and choose between single-life and joint-life cover. You can shape your ₹1 crore cover around your financial needs.

Why Choose Bharti AXA Life Flexi Term Pro Plan for ₹1 Crore Term Insurance?

• Option to cover yourself for the whole life.
• Increasing sum assured at various life stages.
• Choice of death benefits payout as a lump sum, monthly income, or a combination of both.
• Flexible policy tenure and premium payment tenure.
• 2 Plan options - ROP and without ROP.
• Additional riders to enhance your plan coverage.

9. Aviva Life Signature 3D

A term plan that protects your family against death, disability, and disease. You choose the protection level by picking one of the benefit options, so your ₹1 crore cover fits your needs.

Why Choose Aviva Life Signature 3D for your ₹1 Crore Term Insurance Plan?

• Coverage against death, disability, and disease and offers comprehensive financial protection to your family.
• With the TROP plan option, you can get back all premiums paid once you outlive the policy term.
• Get additional payout in the event of death due to an accident.
• Under the critical/terminal illness rider, if you are diagnosed with any covered illnesses, your future premium will be waived.
• Get an extra payout upon the first diagnosis of any critical illness.
• Offers special premium rates for women and non-tobacco users for a sum assured of more than 50 lakhs.

10. Bandhan Life i-Term Prime

Bandhan Life i-Term Prime is a pure protection-oriented plan. It offers financial security for your family and lets you live a tension-free life. The plan is available online and offers a 5% discount on first-year premiums.

Why Choose Bandhan Life i-Term Prime?

• Get life cover at very reasonable premiums.
• Option to surrender your policy and get all your premiums paid back as a Special Exit Value.
• Flexible premium payment terms allow you to pay your premium at your convenience.
• Two inbuilt riders: accidental death and critical illness rider.

Expert Insights

Keeping your term plan and an investment plan separate is one of the best financial decisions you can make to secure your loved ones. Doing so helps you save a considerable amount in premiums.

₹1 Crore Term Insurance Premium by Age (2026)

*Annual premium for ₹1 crore cover till age 60, non-smoker.

Every Year You Wait Costs You More

The longer you wait, the more it costs: the real price of delaying term insurance.

Delay in buying term insurance does more than just increase your premium. You pay more in total and get fewer years of cover.

Axis Max Life Smart Term Plan Plus: ₹1 crore premium by age for a healthy, non-smoking male, cover till age 60.

Buying at 40 instead of 25 almost doubles your premium: ₹1,673 vs ₹847 a month.

Factors That Affect Premium for ₹1 Crore Term Insurance

Several factors affect the premiums for a ₹1 Crore term insurance plan. Let's understand them in detail:

• Policyholder’s Age: The age of the policyholder directly impacts their ₹1 Crore term insurance premiums. The higher the age of the policyholder, the greater the premiums.
• Medical Conditions: If the policyholder is suffering from any disease or illness, the premiums would be higher. A healthy individual pays comparatively less.
• Lifestyle Choices: Lifestyle habits such as smoking, alcohol consumption, and involvement in other high-risk activities may lead to higher premiums.
• Sum Assured: The higher the sum assured, the higher the premiums for a ₹1 Crore term insurance policy.
• Additional Riders: Choosing additional riders with your ₹1 Crore term insurance policy increases your premiums. Choose riders that align with your needs.

Who Should Buy a ₹1 Crore Term Insurance Plan?

A ₹1 Crore Term Insurance plan is one of the most affordable term insurance options available today. You can secure your family with lower premiums by purchasing this product at an early age. As we know, the financial needs of families are increasing day by day due to inflation and the rising cost of living. It is advisable to buy a term insurance plan based on your future requirements. You can calculate premiums using the ₹1 Crore term insurance premium calculator.

Here's who should consider buying a ₹1 Crore term life insurance plan:

• Young Individuals (20s) Starting Income: Young individuals who have just started their professional journey should invest in a term plan with affordable premiums and adequate policy benefits.
• Breadwinner of the Family: Sole earning members of a family should consider a policy that provides a financial safety net to loved ones. Choose a plan with income payouts to help your family fulfill future needs in your absence.
• Individuals with Liabilities: Individuals with liabilities like home loans, car loans, or education loans should invest in a term plan to help their family repay outstanding loans in case of untimely demise.
• Individuals with Dependent Parents: Single children with dependent retired parents should buy a term insurance plan to support them financially in their absence.
• Single Parents with a Dependent Child: Single parents needing to safeguard their child's future should ensure peace of mind by providing for their children's education or marriage funds.

Benefits of Having a ₹1 Crore Term Insurance Plan

Along with securing your family’s financial needs in your absence, a ₹1 Crore term life insurance plan also offers several other benefits:

• Cost-Effective: Term insurance is the most cost-effective form of life insurance. It is a pure life cover with no savings component. Premiums for term life insurance are generally more affordable than permanent life insurance.
• Enhanced Coverage with Riders: Various additional riders, such as critical illness plans, can enhance your term insurance coverage. Policyholders are eligible for benefits if diagnosed with a critical illness listed in the rider conditions.
• Additional Features: Term insurance companies offer features like discounted premiums for non-smokers and specific categories, along with large sum assured options.
• Long-Term Protection: Term policies offer whole-life coverage up to 99 or 100 years, providing long-term protection.
• Flexible Premium Payments: Purchasing a ₹1 Crore term plan at a young age offers premium affordability. Policyholders can pay premiums monthly, quarterly, half-yearly, or yearly.

Tax Benefits for ₹1 Crore Term Insurance Plan

A ₹1 crore term plan can help you save tax in two ways.

Section 123 (Earlier 80C)

You can claim a deduction of up to ₹1.5 lakh a year on the premium you pay. This means less of your income is taxed. It applies only if you choose the old tax regime.

Section 11 (Earlier 10(10D))

If something happens to you, your family receives the entire ₹1 crore with no income tax. This applies in both the old and new tax regimes.

Tips to Choose the Best ₹1 Crore Term Insurance Plan

Here are a few tips to consider when selecting a ₹1 Crore term insurance policy:

• Premium Payment Term: Choose to pay premiums monthly, quarterly, half-yearly, or annually, based on your affordability.
• Policy Tenure: Ensure the policy tenure is long enough to provide monetary benefits to your family. A longer policy term provides extended coverage and peace of mind. A policy term of 20-30 years is generally recommended.
• Claim Settlement Ratio: Choose an insurer with a high Claim Settlement Ratio (CSR) for better assurance of claim settlement. A higher CSR indicates a greater likelihood of claims being settled.
• Riders: Riders are additional benefits that extend your policy coverage. These may include accidental death benefit, critical illness rider, and waiver of premium rider. Choose riders that best suit your needs.
• Exclusions: Read the policy document carefully to make an informed decision. Understand policy exclusions, which specify what is not covered, and their implications.

How to Buy ₹1 Crore Term Insurance From PolicyX?

Buying a ₹1 Crore term insurance policy from PolicyX.com is an easy and hassle-free process. Follow these steps to buy a ₹1 Crore term plan from PolicyX.com:

1. Step 1: Visit the official PolicyX.com website.
2. Step 2: Click on 'Term Insurance' at the top of the page.
3. Step 3: Select your income and city, then click 'Proceed'.
4. Step 4: Update your education and occupation details.
5. Step 5: Choose your preferred plan and click 'Buy this plan'.
6. Step 6: Select the policy term, premium payment period, and riders (if required), then proceed to pay.

Why Should You Buy ₹1 Crore Term Life Insurance From PolicyX.com?

Here are the reasons to buy a ₹1 Crore term insurance plan from PolicyX.com:

• Compare and Choose the Best Plan: PolicyX helps you compare a wide range of plans based on features, enabling you to choose the one that best fits your requirements.
• Hassle-Free Purchase Process: Buying term plans from PolicyX.com is a hassle-free process, allowing you to compare various plans in minutes.
• Customer Trust: PolicyX is a trusted insurance aggregator, known for excellent services and support.
• Expert Customer Service: Contact PolicyX via email or IVR number; our insurance experts will address all your concerns promptly.
• Dedicated Claim Settlement Support: PolicyX provides dedicated claim settlement support, even during challenging times.

Conclusion

A ₹1 Crore term insurance plan is an excellent life insurance product if you want to secure your family's future. Amid life's uncertainties, a term plan ensures your family receives unconditional financial support. It's crucial to assess your financial commitments. Comparing multiple plans helps you understand your needs better. PolicyX helps you find a plan that aligns with your requirements.

Still wondering or confused about which ₹1 Crore term insurance plan to choose? Visit policyx.com, or call us at 1800-420-0269. Our insurance experts will understand your unique needs and suggest the best possible plan. We offer expert, unbiased insurance advice.