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Best 1 Crore Term Insurance Plans

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:

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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Features of an INR 1 Crore Term Plan?

Some of the features of a Rs 1 crore term insurance plan:

  • Cost-Effective: The cheapest form of life insurance is term insurance plans. It is a pure life cover that has no saving component. The premiums of term life insurance are quite affordable than permanent life insurance.
  • 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.

Who Should opt for a 1 Crore Term Insurance Plans

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.

1 Crore Term Insurance Plans Offered by Various Companies

S.no.Insurance CompanyTerm Insurance Plan
1.LICLIC Tech Term
2.HDFCClick 2 Protect Life
3.SBIe-shield Plan
4.ICICI PrudentialICICI Pru iprotect Smart
5.Max Life InsuranceSmart Term Plan
6.Bajaj AllianzSmart protect Goal
7.Kotak MahindraKotak e-term Plan
8.Aditya BirlaABSLI Digishield Plan
9.Tata AIAMaha Raksha Supreme Plan
10.India FirstLife e-term Plan
  1. LIC's Tech Term Plan

    LIC's Tech-Term is a non-linked, non-participating, online pure risk premium plan that offers financial protection to the policyholder's family in case of his/her unfortunate demise during the policy tenure.

    Features and Benefits

    • The plan comes with two death benefit claim payment options, The two available options are (i) the lump sum payment of the death benefit is paid to the beneficiary and, (ii)the death benefit is paid in instalments. With this option, the beneficiary will receive the death benefit in instalments over a period of 5, 10, or 15 years as per their choice.
    • No need to undergo a medical exam up to an amount assured of 75 lakhs if you are a nonsmoker, under 35 years old, and have an annual salary of more than three lakhs.
  2. HDFC Click2 Protect 3D Plus

    HDFC Life Click 2 Protect 3D Plus offers comprehensive security at affordable rates. The term 3D is derived from the three uncertainties that everyone faces in their lives- Death, Disability, and Disease.

    Features & Benefits

    • The plan offers 9 different cover options to choose from. The 9 available options are:
      • Life Option
      • Extra Life Option
      • 3D Life Option
      • Income Option
      • Life-Long Protection Option
      • 3D Life Long Protection Option
      • Extra Life Income Options
      • Income Replacement Option
      • Return of Premium Option
    • The plan offers the flexibility to choose your policy & premium payment term as per your own convenience.
  3. SBI Life eShield Plan

    SBI Life eShield is a non-linked and non-participating insurance plan, which offers high coverage at minimal premiums. The plan offers a range of benefits without burdening your pockets. With loads of benefits, the plan offers several discounts on premiums for non-smokers.

    Features and Benefits

    • SBI Life eShield offers 2 plan options- Increasing Cover and Level Cover. Accelerated terminal illness benefit is an inbuilt benefit for both structures. If you decide to go with increasing cover, your sum assured amount will increase by 10% after every 5 years of the policy tenure.
    • The plan offers an option to enhance the coverage through the following riders:
      • SBI Life - Accidental Death Benefit Rider
      • SBI Life - Accidental Total & Permanent Disability Benefit Rider
  4. ICICI Prudential iProtect Smart Term Plan

    It is an effective term insurance policy that offers 360-degree coverage at an affordable premium. The plan comes out with 4 payout options such as

    • Lump-sum Option
    • Income Option
    • Increasing Income Option
    • Lump-sum Plus Income

    Features and Benefits

    • Female policyholders will get extensive coverage for cervical and breast cancer under the Accelerated Critical Illness Benefit.
    • Under the plan, a policyholder has the option to choose accidental death benefit and accelerated critical illness benefit.
  5. Max Life Smart Term Plan

    The plan offers comprehensive protection to the policyholder against 40 critical illnesses including kidney failure, heart attack, and cancer, disability, death and offers complete financial protection to your family in your absence.

    Features and Benefits

    • You can enhance the cover by choosing optional riders such as accident cover, and accelerated critical illness cover by paying an additional premium.
    • The plan offers 7 variants of death benefits to choose from. The variants are
    • Life Cover
    • Income Protector
    • Income + Inflation Protector
    • Life Cover + Income
    • Life Cover + Increasing Income
    • Increasing Cover
    • Reducing Cover
  6. Bajaj Allianz Life Smart Protect Goal

    Bajaj Allianz Life Smart Protect Goal is a non-linked, pure life term insurance plan that comes with an encompassing life cover. To look after the specific needs of every individual, the plan comes with four variants and allows them to customize the plan as per their requirements.

    Features and Benefits

    • Along with the protection cover, the plan offers coverage against 55 minor and major critical illnesses.
    • The plan offers additional coverage for the child's educational expenses in case of death of the life assured.
  7. Kotak Mahindra E-term

    Kotak Mahindra E-term plan is an individual non-linked pure protection life insurance plan that provides financial security to your family after your unfortunate demise. One also has the option to increase his/her cover through Kotak Permanent Disability Benefit Rider and Kotak Critical Illness Plus Benefit Rider.

    Features and Benefits

    • The plan offers three payout options to choose from Immediate Payout, Level Recurring Payout, and Increasing Recurring Payout.
    • The plan is available in 3 variants- Life, Life Plus, and Life Secure.
  8. Aditya Birla Sun Life Shield

    With 8 different plan options, Aditya Birla Sun Life Shield ensures to fulfil the financial needs of all its customers. To offer maximum benefit to the policyholder and his family, the plan comes with an inbuilt terminal illness benefit.

    Features and Benefits

    • The plan offers joint life protection, where you and your spouse get coverage under the same policy.
    • The plan waives off all the future premiums in case the life insured suffers from total and permanent disability or critical illness during the policy term.
  9. Tata AIA Maha Raksha Supreme

    Tata AIA Maha Raksha Supreme is a non-linked individual life insurance plan that comes with a wide range of choices and allows you to fulfil your family's financial needs after your unfortunate demise. The plan comes with a wide range of benefits that fulfil your family's specific needs.

    Features and Benefits

    • The plan comes with an inbuilt payout accelerator benefit that gives 50% of Basic Sum Assured (in advance) if the policyholder is diagnosed with a terminal illness.
    • The plan offers discounted rates for female lives and standard premium rates for non-smokers.
  10. India First Life eTerm Plan

    It is a non-linked, non-participating pure risk life insurance plan that protects and supports your family in the event of death or other life's unforeseen events such as accidental complete permanent disability or critical sickness.

    Features and Benefits

    • The plan comes with the option of a premium break, wherein the policyholder can enjoy the benefit of life cover even if they miss paying up to three premiums during the plan tenure.
    • The plan offers 7 coverage options and lets you customize your plan with multiple available options to meet your requirements.

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.

S.no.Company NameMonthly Premium
1.SBI544 INR
2.Aditya Birla680 INR
3.Kotak678 INR
4.India First491 INR
5.Bajaj693 INR

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.


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.

Written By : Naval Goel

Last Updated : October, 2021

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 the Customers Are Saying

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- 4.1/5 (567 Total Rating)

June 9, 2022

Vipul Bhardwaj


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June 6, 2022

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May 31, 2022

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May 31, 2022

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May 31, 2022

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