What is a 10 crore Term Insurance Plan

A 10 crore term insurance plan is a pure protection plan that provides 10 crores of sum assured to the nominee of the policyholder in case of his demise. This sum assured is sufficient with the rate of inflation to support your family in tough times and also helps them pursue their future goals in your absence.

It is to be noted that a 10 crore term policy will come with higher premiums and can only be bought if your monthly income is eligible for the same. These policies are suitable for people with very high annual incomes, high standards of living, and huge loans that they do not wish to transfer to their families after their demise.

It is advised to decide on a coverage that is 15-20 times your current annual income. So, decide on coverage that is suitable to your current income instead of under or over-insuring yourself.

How to Choose the Best 10 crore Term Insurance

You can consider the following points to choose a suitable 10 crore term policy.

5 Best Ten Crores Term Insurance Plans in 2024

1. ICICI Pru iProtect Smart

   A comprehensive term plan providing high coverage to your loved ones at affordable prices. With a high sum assured, ICICI Pru iProtect Smart also provides riders to enhance the protection of your loved ones in tough times.

   Eligibility Criteria

   Age	Life cover	Monthly premium amount	Claim settlement ratio
   25	10 crores	4535/-	97.8%

2. HDFC Life Click 2 Protect Super

   HDFC Life Click 2 Protect Super is a term insurance offered by HDFC Life; under this plan, the policyholder gets comprehensive coverage and many benefits with your changing lifestyle and life stage requirements.

   Eligibility Criteria

   Age	Life cover	Monthly premium amount	Claim settlement ratio
   25	10 crores	5314/-	99.39%

3. Max Life Smart Total Elite Protection

   Max Life Smart Total Elite Protection (STEP) is a term plan offered by Max Life Insurance; as per the word total elite protection, this plan provides complete protection to the policyholder with a special exit feature under which customers can get all the premiums back after exiting from the plan.

   Eligibility Criteria

   Age	Life cover	Monthly premium amount	Claim settlement ratio
   25	10 crores	4709/-	99.51%

4. Bajaj Allianz Life eTouch

   Bajaj Allianz Life eTouch is a term plan offered by Bajaj Allianz, the plan comes in 4 variants, gives a high sum assured, lets you add 2 riders, and offers a high sum assured rebate.

   Eligibility Criteria

   Age	Life cover	Monthly premium amount	Claim settlement ratio
   25	10 crores	2671/-	99.04%

5. Tata AIA Smart Sampoorn Suruksha

   Tata AIA offers Tata AIA Life Smart Sampoorna Raksha. This plan provides financial coverage to dependents for the long term to give access to continued child education, repayment of loans, etc., in the absence of a policyholder.

   Eligibility Criteria

   Age	Life cover	Monthly premium amount	Claim settlement ratio
   25	10 crores	5040/-	99.01%

How to purchase a 10 Crore term insurance Plan?

Here is a step-by-step process for purchasing a 10-crore term plan from PolicyX.com.

Step 1: Browse Policyx.com on your browser.

Step 2: Click on the term insurance section.

Step 3: Enter age, city, and annual income.

Step 4: Enter your name, mobile number, date of birth, & qualification.

Step 5: Select the Coverage and make it to 10 crores.

Step 6: Select a plan as per your convenience and proceed to add riders and other available benefits.

Step 7: Fill out your proposal form.

Step 8: Pay your first premium.

Conclusion

A 10 crore term plan is an excellent option to provide a financial cushion to your family. With the present rate of inflation, it's a very good amount that helps your dependents to cover almost all expenses, and debts and help them to continue their lives without any financial worries.