With time, financial responsibilities also increase. Thus it is important for you to always be prepared for what the future has to offer. Not just this, as a responsible family member, it is also important for you to ensure that your family's dreams are secured even in your absence.
To ensure a family's financial freedom, many people these days are picking Rs. 1 Crore term insurance. Having 1 Crore Term Insurance ensures that your family does not have to sacrifice fundamental needs in order to accomplish financial ambitions.
In this article, let us discuss more Rs. 1 Crore Term Insurance Plans:
A 1 crore term insurance plan is a policy that guarantees the nominee will get the sum assured of 1 crore after the death of the policyholder as a death benefit. It acts as a protector of the family in the absence of the policyholder and provides financial support to the family in fulfilling their dream.
Along with securing your family's financial needs in your absence, 1 Crore Term Insurance also offers several other benefits such as:
1 Crore Term Insurance is one of the most affordable term insurance plans available in the market today. You can secure your family at lower premiums by buying this product at an early age. As we know, the financial need of a family is increasing day by day due to the inflation rate and the cost of living. So, it is better to buy a term insurance plan according to your future requirements.
This term insurance plan is ideal for
Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.
Continue reading to get a thorough understanding of the above-mentioned 1 crore term insurance plans:
S.no. | Insurance Company | Term Insurance Plan |
1. | LIC | LIC Tech Term |
2. | HDFC | Click 2 Protect Life |
3. | SBI | e-shield Plan |
4. | ICICI Prudential | ICICI Pru iprotect Smart |
5. | Max Life Insurance | Smart Term Plan |
6. | Bajaj Allianz | Smart protect Goal |
7. | Kotak Mahindra | Kotak e-term Plan |
8. | Aditya Birla | ABSLI Digishield Plan |
9. | Tata AIA | Maha Raksha Supreme Plan |
10. | India First | Life e-term Plan |
In the below table, we are presenting the comparison of the top ten 1 crore term insurance plans based on the premium for a non-smoker, 30-year-old male, with cover up to 45 years.
S.no. | Company Name | Monthly Premium |
1. | SBI | 544 INR |
2. | Aditya Birla | 680 INR |
3. | Kotak | 678 INR |
4. | India First | 491 INR |
5. | Bajaj | 693 INR |
Here is the graphical representation of the above table
Monthly Premium of different companies
Purchasing INR 1 crore term insurance plan is the best way to protect your family against the uncertain events of the future. Because its accessibility, large cover, and affordable premium rates make this insurance plan best for most people. There are various additional riders to enhance the protection for you and your family. So, choose the best INR 1 crore term insurance plan and keep your family secure by paying the premiums on time.
Let your family be financially independent and secure with the best term insurance plan for 1 crore. Gift them a secure life by purchasing a 1 Crore term insurance plan. However, do remember before buying a 1 crore life plan, ensure that you will be able to pay the charged premium amount. Determine how much you can commit to the plan on an annual basis (without burdening your pockets) and then chose an ideal plan.
1 Crore Term Insurance is one of the most affordable term insurance plans available in the market today. You can secure your family at lower premiums by buying this product at an early age.
Along with securing your family's financial needs in your absence, 1 Crore Term Insurance also offers several other benefits such as
For individuals between the age group of 30-35 years who have more earning years, or if you an individual is the only earning member of the family, a 1crore term insurance plan will be beneficial for your family after your death.
People should opt for the best term plan for 1 crore if they are
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.