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1 Crore Term Insurance Plan in India

With time, financial responsibilities also increase. Thus, you must always be prepared for what the future has to offer. Not just this, as a responsible family member, it is also essential 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:

What is a 1 crore term insurance plan?

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.

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Benefits of Having 1 Crore Term Insurance Plan

Along with securing your family's financial needs in your absence, 1 Crore Term Insurance also offers several other benefits such as:

  • Cost-Effective: The cheapest form of life insurance is term insurance. It is a pure life cover that has no saving component. The premiums of term life insurance are quite affordable than permanent life insurance.
  • Enhanced Coverage Through Riders: It offers various additional riders like critical illness plans to enhance your term insurance that means the policyholder is eligible to get benefit if he or she is diagnosed with a critical illness listed in your rider.
  • Attractive Features: Term Insurance companies offer various other attractive features in term insurance plans like discounted premiums to non-smokers and certain categories of people, large sum assured, etc.
  • Long term security: 1 crore term insurance offers individuals with whole life coverage till up to 99/100 years which means that individuals can avail a long term protection. Therefore, proving that the right term insurance for 1 Crore can prove beneficial to you and your family
  • Premium Payment Flexibility: If purchasing a term plan for 1 crore individuals can avail premium affordability at a young age, the policyholders also can benefit from the premium payment options that are available with a 1 crore term plan wherein they can pay their premiums monthly, quarterly, half yearly or yearly.

Who Should opt for a 1 Crore Term Insurance 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. 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

  • Those who have a large family with parents, siblings, wife, and children.
  • Those who have a limited income with big financial commitments.
  • Those who have several debts and can put an unbearable financial burden on the family in case of the policyholder's death.
  • Those who want to create enough savings for their family in case of his/her absence.

Best Term Insurance Plan For 1 Crore in India 2023

Kotak e-Term Plan is a Pure Protection Plan. It offers special premium rates to non-tobacco users and women and has multiple plan options with additional riders.

Unique Features

  • Multiple plan options available
  • Three payout options available
  • Increase or decrease life cover

Kotak e-Term Plan (Pros)

  • Permanent Disability Benefit Rider
  • Critical Illness Plus Benefit Rider
  • Special Rates for Non-Tobacco Users

Kotak e-Term Plan (Cons)

  • Strict Qualifications On Disability
  • Limited Coverage
  • No Policy Loan Allowed

Kotak e-Term Plan (Other Benefits)

  • Death Benefit
  • Additional Premium Discounts
  • Enhanced Accidental Death Coverage

Kotak e-Term Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - RP/SP/LP

The term plan offers coverage for 42 Critical Illnesses, along with the ability to enhance coverage through optional riders.

Unique Features

  • 6 Rider Options
  • Enhanced Life Stage Protection
  • Coverage Till 100 Years of Age

ABSLI DigiShield Plan (Pros)

  • ROP with Life Insurance Cover
  • Level Cover with Survival Benefit
  • Level Cover plus Income Benefit

ABSLI DigiShield Plan (Cons)

  • 48 Months WP for Critical Illness
  • 12 Months WP For Suicide Cover
  • No Coverage Beyond Critical Illness List

ABSLI DigiShield Plan (Other Benefits)

  • Sum Assured Reduction Cover
  • Inbuilt Terminal Illness Benefit
  • Spouse Cover under Joint Life Protection.

ABSLI DigiShield Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 30 L
  • Maximum Policy Term - 55 years
  • Premium Payment Term- RP/SP/LP

The plan offers various life coverage options, including Whole Life coverage up to age 100, and the added benefit of the Credit Protect option.

Unique Features

  • Low premiums for women
  • Life cover up to 100 years
  • 24x7 online medical consultation

Sampoorna Raksha Supreme (Pros)

  • 2 Premium Payout Options
  • 2 Rider Option
  • Top-Up Sum Assured

Sampoorna Raksha Supreme (Cons)

  • No Loans Allowed
  • Only 1% Discount on Installment
  • No Suicide Cover in Terminal Illness

Sampoorna Raksha Supreme (Other Benefits)

  • Non-Forfeiture Benefit
  • Survival and Maturity Benefit
  • Payor Accelerator Benefit advances 50% SA

Sampoorna Raksha Supreme (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 60 years(POS)
  • Minimum Sum Assured - 1 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - LP/RP/SP

A pure term plan insurance that offers flexible premium payment options, and innovative coverage features and return of premium option.

Unique Features

  • Return of Premiums of maturity
  • Coverage till 100 years
  • Spouse coverage under same plan

Life Guaranteed Protection Plan (Pros)

  • 1 Crore Cover
  • 3 Plan Options
  • WoP Premium for 40 Critical Illnesses

Life Guaranteed Protection Plan (Cons)

  • 1 Year WP For Suicide
  • No Rider Benefit
  • No Pre-Existing Conditions

Life Guaranteed Protection Plan (Other Benefits)

  • Whole Life Cover (Till Age 99)
  • WOP Option For Disability
  • Adjust SA With Life Stage

Life Guaranteed Protection Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - 99 yrs
  • Premium Payment Term - 5 To 35 Years

LIC New Tech Term Plan

A pure protection term plan that protects your family's financial needs after your demise. The plan is available online only, and comes with several benefits.

Unique Features

  • Avail two benefit options
  • Death benefit Available
  • Non-smoking discounts

New Tech Term Plan (Pros)

  • Maturity Benefits
  • Discounts for Women
  • Death Benefit Instalments

New Tech Term Plan (Cons)

  • No Loan Available
  • No Suicide Cover
  • No Surrender Value

New Tech Term Plan (Other Benefits)

  • No Limit on Max Sum Assured
  • Tax Benefit
  • Annualized Premium

New Tech Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age - 65 Years
  • Minimum Sum Assured - Rs.50 L
  • Maturity Age - 80 years
  • Premium Payment Term - 10 years to 40 years

HDFC Click 2 protect life is a comprehensive plan, offering 3 different variants and an unlimited life cover.

Unique Features

  • Special premiums for non smokers.
  • Premium waivered for critical illness.
  • Avail Survival benefits.

SBI Life Smart Shield is a pure term plan that offers two options – Level Term Assurance and Increasing Term Assurance and offers additional riders for enhanced protection.

Unique Features

  • Coverage at an affordable cost.
  • Lower premiums for non-smokers.
  • Discount on larger sum assured.

SBI Life Smart Shield (Pros)

  • Two Plan Options
  • Accidental Total and Permanent Disability Benefit Rider
  • Accidental Death Benefit Rider

SBI Life Smart Shield (Cons)

  • Premium Loading
  • No Loan Benefit
  • No Survival Benefit

SBI Life Smart Shield (Other Benefits)

  • Covers Suicide
  • Death Benefit
  • Accelerated Critical Illness Benefit

SBI Life Smart Shield (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 80 Years
  • Premium Payment Term - 5 Yeras SP/RP

This plan offers an optional accidental death benefit of up to 2 crores, extended coverage until age 99, and includes coverage for Covid-19 claims.

Unique Features

  • Unlimited Maximum Sum Assured
  • Smart Exit Benefit
  • Waiver of Premium Benefit

iProtect Smart Term Plan (Pros)

  • Major Organ Benefit
  • Accelerated Critical Illness Benefit
  • Choose your Policy Term

iProtect Smart Term Plan (Cons)

  • No Loans Allowed
  • Modal Loadings
  • No Maturity Benefit

iProtect Smart Term Plan (Other Benefits)

  • Brain and Nervous System Benefit
  • Heart and Artery Benefit
  • Terminal Illness and Disability Enhanced Protection

iProtect Smart Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - RP/SP/LP

A high sum assured term plan that offers two death benefits namely Life Cover or Increasing Life Cover.

Unique Features

  • Different payout options available
  • Terminal illness cover
  • Maturity benefit available

Smart Term Plan (Pros)

  • Income Protector
  • Rider Options
  • Premium Return (ROP)

Smart Term Plan (Cons)

  • Limited Maturity Benefit
  • Plan Complexity
  • No Loan Benefit

Smart Term Plan (Other Benefits)

  • Enhance Cover at Milestones
  • Accelerated Critical Illness Benefit
  • Accident Cover

Smart Term Plan (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP

The comprehensive plan offers death coverage, accidental death coverage, Cancer cover benefits, and Waiver of Premium on Critical Illness Benefits.

Unique Features

  • (ROP) as Maturity Benefit
  • Whole Life cover
  • Waiver of Premium Benefit

Smart Protection Goal (Pros)

  • Critical Illness Benefit
  • Accidental Death Benefit (ADB)
  • Accidental Total Permanent Disability Benefit

Smart Protection Goal (Cons)

  • No Loans Allowed
  • 180 Days WP For Critical Illness
  • No Rebate for SA above 3 cr

Smart Protection Goal (Other Benefits)

  • Suicide Cover After 12 Months
  • Female Life Rebate
  • High Sum Assured Rebate (HSAR)

Smart Protection Goal (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 5 L
  • Max Maturity Age - 75 Yrs(ROP)
  • Premium Payment Term - RP/SP/LP

Top 10 One Crore Term Insurance Plans in India 2023

The marketplace has multiple options for 1 crore term insurance that can act as a financial safety net for your family in case of your untimely demise which makes it difficult for you to select the best term plan for 1 crore. We have compiled below a list of the best insurance plan for 1 Crore.

  1. Kotak E-term Plan

    Key Features

    • It is among the best term insurance plan for 1 crore with affordable premiums
    • Kotak e-term plan has multiple plan options that individuals can select from namely, Life, Life, Life Plus, or Life Secure Option
    • The Life Plus option offers an accidental death benefit
    • The plan offers 3 pay-out options wherein you will receive the sum assured as immediate pay-out, level recurring pay-out, or increasing recurring pay-out.
    • Individuals can increase or decrease their life cover option based on their requirements

    Eligibility Criteria

    Entry Age Minimum: 18 Months
    Maximum: 65 years (Except for Limited Pay- "Pay till 60 Years")
    50 Years (For Limited Pay - "Pay till 60 Years")
    Premium Payment Term Same as Policy Term
    Sum Insured INR 25 Lakh to 1 Crore
    Policy Term Regular Pay:
    Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
    Limited Pay:
    Min: 10 Years | Max: 40 Years or 75 Minus Age at Entry
    Single Pay:
    Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
  2. ABSLI Digishield Plan

    Key Features

    • The ABSLI Digishield plan offers 10 different plan options to the insurance holders suited as per their requirements
    • It is a comprehensive 1 Cr term plan covering insurance holders till 100 years of age
    • Death benefit pay-outs are flexible for individuals and can be opted according to the needs of the insurance holder which are monthly, lump-sum or both
    • ABSLI digishield plan offers survival benefits for policyholders to ensure financial security after the age of 60 years
    • Terminal Illness benefit available

    Eligibility Criteria

    Entry Age For Plan Options 1|2|3|6|7|8|10: 18 to 65 years
    For Plan Option: 4|5: 45 to 65 years
    For Plan Option: 9: 18 to 50 years
    Premium Payment Term Single/ Regular/ Limited and 5 Pay
    Sum Insured For Plan Option: 1|2|6|7|3|4|5|9|10
    Minimum - Rs. 30 Lakh
    Maximum - No Limit
    For Plan Option 8
    Minimum - 1 Lakh
    Maximum - 20 Lakh
    Policy Term For plan option 1/2/6 and 7
    Min: 5 Years | Max: 55 Years
    For plan option 3
    Min: 11 years | Max : 55 Years
    Plan Options 4 and 5 : 100 minus entry
    Plan Option 8 : Min: 1 Years | Max: 4 Years
    Plan Option 9 :
    Min: 70 minus entry age| Max: 55 Years
    Plan Option 10:
    Min: 10 years | Max: 55 Years
  3. TATA Life Insurance Sampoorna Raksha Supreme

    Key Features

    • With this plan insurance holders can avail of a whole life cover up to 100 years of your age to guarantee long term
    • Tata Sampoorna Raksha supreme offers rider benefit options to cover you against critical illness, terminal illness, accidental death, etc.
    • You can avail of free medical consultation online with a network doctor available
    • Tax exemption benefits available under Tata AIA Life Insurance Sampoorna Raksha Supreme
    • You can increase or decrease life cover at important life stages

    Eligibility Criteria

    Entry Age Min: 18 Years
    Max: 65 Years
    Premium Payment Term Single/ Regular/ Limited Pay
    Sum Insured Minimum - Rs. 1 Lakh
    Maximum - No Limit
    Policy Term N/A
  4. India First Life Guaranteed Plus Plan

    Key Features

    • The plan offers 3 different variants to select from to the insurance holders
    • It is a 1 crore term insurance at affordable premiums and does not require you to break your bank to pay premiums
    • You can opt to pay premiums at your convenience, such as monthly, quarterly, half-yearly, or yearly premiums under a Limited premium or a Single premium.
    • Insurance holders can opt between pay-out options like lump sum pay-out or lumpsum, and level income pay-out
    • Life option, return of the premium option and smart life option are available under this plan

    Eligibility Criteria

    Entry Age Min: 18 Years
    Max: 65 Years
    Premium Payment Term Life Option -
    Min: 5 years | Max: 47 years such that the maximum age at the end of PPT is 70 years
    Return Of Premium and Smart Life Option -
    5/7/10/12/15/20/25/30/35 years such that the maximum age at the end of PPT is 70 years
    Sum Insured Minimum - Rs. 25/50/75Lakh
    Maximum - No Limit
    Policy Term Min: 10 Years | Max: 20 Years
  5. LIC New Tech Term Plan

    Key Features

    • Flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
    • Policyholders can opt for Single Premium, Regular Premium, and Limited Premium Payment
    • Special premium rates available for women
    • Premium rebates available for non-smokers
    • Option to enhance coverage by opting for Accident Benefit Rider on payment of additional premium for the rider benefits

    Eligibility Criteria

    Entry Age Min: 18 Years
    Max: 65 Years
    Premium Payment Term Single/ Regular/ Limited Pay
    Sum Insured Minimum - INR 50 Lakh
    Maximum - No Limit
    Policy Term Min: 10 Years | Max: 40 Years
  6. HDFC Life Click 2 Protect Life

    Key Features

    • It is a unique term plan that is capable of covering you against all uncertainities
    • Insurance holders can opt for a whole life cover under this term plan for 1 crore
    • Individuals above the age of 60 will receive income payouts
    • 3 different plan options are available under HDFC Click 2 protect life plan
    • Auto balances Death and Critical Illness benets with increasing age

    Eligibility Criteria

    Entry Age Life & CI Rebalance
    Min: 18 Years
    Max: 65 Years
    Life Protect
    Min: 18/45 Years
    Max: 65 years for non-PoS | 60 years for PoS
    Income Plus
    Min: 30/45 Years
    Max: 50 Years | 10 Pay: 50 years Single Pay, 5 Pay: 55 years
    Premium Payment Term Life and CI Rebalance -
    Single Pay, Regular Pay, Limited Pay (5 to any PPT less than PT)
    Life Protect-
    Limited Pay (5, 10, 15 pay)
    Income Plus-
    Single Pay, Limited Pay (5, 10 pay)
    Sum Insured Minimum - INR 50 Lakh
    Maximum - No Limit
    Policy Term Life and CI Rebalance -30 years
    Life Protect- Whole of Life
    Income Plus - Whole of Life
  7. SBI Life eShield Next

    Key Features

    • Policyholders can select from 3 plan variants namely, Level Cover, Increasing Cover and Level Cover with Future Proofing Benefit suitable for your family
    • You can customize your plan with death benefit payment mode or better half benefit option
    • Terminal Illness Benefit is available to insurance holders under all the plan variants
    • Flexible premium payment available
    • Two rider options available for enhanced protection

    Eligibility Criteria

    Entry Age Min:
    For Whole Life: 45 years | For other than Whole life: 18 years
    Max: 65 Years
    Premium Payment Term Single/ Yearly/ Half- yearly/ Monthly
    Sum Insured Minimum - INR 50/ 75Lakh
    Maximum - No Limit
    Policy Term Min: 5 years
    Max: Single and regular premium (85 less age at entry) in years
    LPPT:
    Whole Life: (100 less age at entry) in years
    Other than Whole Life: (85 less age at entry) in years
  8. ICICI Pru iProtect Smart Term Plan

    Key Features

    • The plan provides insurance holders with enhanced protection: Coverage against death, terminal illness and disability
    • This particular 1 cr term plan offers the option to choose Accidental Death Benefit and Accelerated Critical Illness Benefit
    • Icici iProtect smart plan offers special premium rates for non-smokers to promote a healthy and active lifestyle
    • It has a need based benefit payout option for insurance holders wherein you can choose to receive the benefit amount as a lump sum or as monthly income for 10 years or a combination of both
    • Flexibility to pay premiums once, for a limited period or throughout the policy term

    Eligibility Criteria

    Entry Age Min: 18 years
    Max: 65 Years
    Premium Payment Term Single/ Regular/Limited Pay
    Sum Insured Minimum - Subject to the minimum premium
    Maximum - No Limit
    Policy Term Min: 5 years
    Max: Whole Life (99 years less age at entry)
  9. Max Life Smart Term Plan

    Features

    • Comprehensive death benefit variants: Max Life Smart Term Plan helps you customize the protection required at affordable prices by offering 7 death benefit variants to choose from at the time of purchase.
    • Option to pay your premiums as per your budget - Choose from a range of premium payment terms - Once, for a limited period or throughout the policy term. Moreover, you have the option to pay premiums in yearly, half-yearly, quarterly or monthly mode.
    • Longer coverage duration: Choose your own desired policy term with coverage available upto age 85 years
    • Additional Protection with Additional Liabilities. Enhance your cover at important mile-stones of your life by choosing Life Stage Event Benefit by paying additional premium.
    • Get all your money back with the Premium Back option available under the plan by paying additional premium

    Eligibility Criteria

    Entry Age Min: 18 years
    Max: 60 Years
    Premium Payment Term Single/ Regular/Limited Pay
    Sum Insured Minimum - INR 10 Lakh
    Maximum - INR 1 Crore
    Policy Term Min: 5 Years
    Max: 50 Years
  10. Bajaj Allianz Life Smart Protection Goal

    Key Features

    • The plan offers covers 55 critical illnesses
    • Returns of Premiums is available under the plan
    • Whole life cover up to 99 years by paying for a limited term only
    • In case of Minor CI other than Angioplasty, 25% of the CI Sum Assured will be payable
    • You will receive a Maturity Benefit equal to total premiums paid as a one-time lump sum on the date of maturity, and the policy will terminate

    Eligibility Criteria

    Entry Age Min: 18 years
    Max: 60 Years
    Premium Payment Term Single/ Regular/Limited Pay
    Sum Insured Minimum - INR 5 Lakh
    Maximum - INR 1 Crore
    Policy Term Min: 5 Years
    Max: 99 minus age at entry

Why Should You Choose 1 Crore Term Insurance?

It is critical to protect your family from unforeseen events. In the event of your unfortunate demise, your loved ones must be able to accomplish their objectives and goals without financial restraints. As a result, it is critical to invest in the best term plan for 1 crore. There are numerous reasons why you should choose a 1 crore term plan, and we have highlighted a few of them below for your convenience.

  • You are in your 20's and have just started your income: If you are a young individual who has just started your professional journey or are climbing the ladders of success as an entrepreneur you must invest in the term insurance plan for 1 crore as the premiums will be affordable and you can avail a long term cover
  • If you are the breadwinner of your family: In case you are the only earner of your family, you must indulge in a 1 cr term insurance to provide a financial safety net to your family members in the face of adversity. The plan is also helpful for the insurance holder's family as it provides income pay-outs which can allow your dependent children in their education or your dependent parents for their old age
  • In case you have liabilities: If you are an individual with liabilities on your shoulders such as a debt or loan like home loans, car loans, education loan, etc. you should consider investing in a 1 cr term plan which will help your family to pay off any loans in case of your sudden demise
  • In case you have dependent Parents: If you are a single girl child and have dependent retired parents then you must essentially invest in the best term insurance plan for 1 crore as it will support your parents financially in case you are not around
  • Single Parents with a dependent child: If you are a single parent and need to safeguard your child's future you must ensure that you scout for the term insurance plan for 1 crore and safeguard your family in the face of unforeseen circumstances.

How Does 1 Crore Term Insurance Plan Work?

Very often, people do not understand the importance of a 1 Cr term plan or do not see the need to invest in a term plan with a high cover amount due to a lack of understanding. It is a simple process to understand how a 1 crore term insurance works and we have explained the process below:

Rishi is a working professional who has decided to invest in a 1 Crore term plan to secure his family's future so that in case of any unfortunate incident causing his sudden demise his family will receive a pay-out benefit of INR 1 Crore in order to carry on their life with financial security. Rishi opted for cover till the age of 65 years ensuring that his family will be looked after post his retirement.

However, Rishi passed away due to a sudden cardiac arrest and was declared dead. His family who faces emotional stress has now filed arequest for claim settlement and is provided with a lump-sum amount of 1 Crore which will provide them financial stability to cover their expenses, pay-off their liabilities like any loans or debts, support his children's education and more.

How to Choose a Good 1 Crore Term Plan for Yourself

Choosing the best term insurance plan for 1 crore for yourself is a very crucial decision as it involves the financial security of your family in case of your sudden demise. Here are a few points to ponder when selecting a 1 crore term plan:

  • Sum Assured: The sum assured of the policy should be sufficient to cover your family's financial needs after your death. A coverage amount of 1 crore is satisfactory for a good start, but your needs may vary more or less depending on your family's finances.

    Know More About: Sum Insured vs Sum Assured

  • Premium Payment Term: You must check the premium payment term of the 1-crore term insurance. It may be monthly, quarterly, half-yearly, or annually. You must go for a term plan with a premium payment term that fits your budget.
  • Policy Tenure: The tenure of the term plan for 1 crore must be long enough as it provides monetary balance to your family. The longer the policy term, the more your family will be covered for a longer period, which will give them peace of mind. It is recommended to have a policy term of 20-30 years.
  • Claim Settlement Ratio: Before going for 1 crore term insurance, check the claim settlement ratio of the insurance company. It is the percentage of claims settled by the insurance company in a financial year. Always opt for an insurance company with a high claim settlement ratio.

    Know More About: Term Insurance Claim Settlement Ratio

  • Riders: Riders are additional benefits that you opt for in your policy. These may include accidental death benefits, critical illness rider, and waiver of premium rider, among others. Choose riders that are best suited to your needs.

    Know More About: Term Insurance Riders

  • Exclusions: Read the policy document carefully to make an informed decision. Exclusions are situations where the policy will not cover many features. So make sure, that you are aware of these and understand the implications.

Premium Calculation

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.

Here is the graphical representation of the above table

Monthly Premium of different companies

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.

Invest In the Best Term Insurance Plan For 1 Crore With PolicyX

PolicyX offers its customers the best possible guidance to select a 1 cr term plan through these simple steps

  • Visit the official website of www.policyx.com
  • Click on "Buy Now" or visit "Term Insurace" tab on the homepage
  • Enter your details such as name, gender, age, lifestyle habits like smoker/Non-smoker and others
  • Click on View Plans
  • After fulfilling all the necessary details click on the plan that suits the best to your needs

Conclusion

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 : FAQ

1. Do I need 1 crore term insurance?

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.

2. What are the benefits of having the best term insurance plan for 1 crore?

Along with securing your family's financial needs in your absence, 1 Crore Term Insurance also offers several other benefits such as

  • Coverage through riders
  • Optional critical illness cover
  • Cost-effective coverage
  • Collective coverage for various members of the family

3. What is the eligibility for 1 crore term insurance?

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.

4. Who should opt for a 1 Crore term insurance plan?

People should opt for the best term plan for 1 crore if they are

  • Young individuals
  • only breadwinner of the family
  • Have multiple dependants
  • If you have liabilities like loans

5. Are rider benefits available On 1 Crore term insurance?

Yes, you can add critical illness and disability rider, accident cover, and waiver of premium rider to your 1 crore term insurance plan, just check for the policy documents before buying the plan.

6. Can I buy a 1 Crore Term Insurance Plan Online?

Yes, you can buy a 1 crore term insurance plan online, by visiting the company's official website and submitting the necessary information and documents.

7. What is the minimum age for a 1 crore term insurance plan?

The minimum entry age for a 1 crore term insurance plan is 18 years.

8. Does a 1 Crore term insurance plan cover critical illness?

Yes, a 1 Crore term insurance plan covers critical illness.

9. What is the policy tenure of a 1 Crore term insurance plan?

The policy tenure of a 1 Crore term insurance plan is 20-30 years.

Term Insurance Companies

Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.

Term Insurance Articles

What Our Customers Have to Say

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Tanya

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September 29, 2023

I needed help with rider options after the purchase of my term insurance policy and was guided immediately by the customer care team

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Raipur

May 1, 2023

I seek help from PolicyX when it comes to purchasing any kind of insurance because they provide me with the best quotes and options for insurance

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Jaipur

December 14, 2022

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Agra

December 9, 2022

I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.

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Prerna Kumari

Mumbai

July 11, 2022

Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.

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Priya Sangwan

Mumbai

July 11, 2022

IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.

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Priyanshi Deewan

Hyderabad

July 6, 2022

I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...

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Rishabh Kumar

Delhi

July 6, 2022

I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.

Naval Goel

Reviewed By: Naval Goel

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.