- Best 75 Lakh Term Plans
- Who Should Buy?
- How to Buy?
Himanshu is a content marketer with 2 years of experience in the life insurance sector. His motto is to make life insurance topics simple and easy to understand yet one level deeper for our readers.
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Updated on Apr 16, 2025 7 min read
What is 75 Lakh Term Insurance?
A 75 lakh term insurance policy offers financial coverage of Rs 75 lakhs for a particular policy tenure. In case of the policyholder’s death during the policy tenure, the benefits would be paid to their family. They can use the amount received to fulfill their financial responsibilities such as paying off their outstanding loans, child education, meeting uncertainties, etc.
Having a minimum of 75 lakh term insurance is necessary to make sure your family is financially stable even in your absence. There are various term insurance plans for 75 lakh available for you to choose from. However, you must choose a plan that best aligns with your needs and responsibilities.
How Does A 75 Lakh Term Policy Work?
A 75 lakh term insurance plan pays an amount of Rs 75 lakhs to the nominee in case of the policyholder’s uncertain demise during the policy tenure.
Let’s understand how a 75 lakh term insurance plan works with a simple illustration table.
Raghav, a 35-year-old working in an IT company in Gurugram, is looking for a 75 lakh term plan. He visited PolicyX.com and bought Axis Max Smart Term Plan Plus with a 75 lakh sum assured for a policy duration of 25 years. Let’s understand how the plan works for Raghav with a premium table so that you can understand it better.
| Policyholder’s Age | Plan Name | Sum Assured | Policy Tenure | Premium Payment Tenure | Annual Premiums |
| 35 years | Axis Max Smart Term Plan Plus | Rs 75 lakhs | 25 years | 25 years | Rs 13,448 |
Key Takeaways: (i) In the case of Raghav’s death during the policy tenure, his family would receive an amount of Rs 75 lakhs.
(ii) In case Raghav survives the policy duration, the policy would lapse and no benefits would be paid.
Best 75 Lakh Term Insurance Plans
There are various 75 lakh term insurance plans available in India. However, choosing the right term insurance plan is important to make sure your loved ones are financially stable even if you are not with them. We have created a list of the best term insurance of 75 lakhs, considering the claim settlement ratio of insurers, customer reviews, minimum premiums, and features.
| S. No | Plan Name | Unique Features | CSR (FY 2023-24) | Minimum Annual Premiums | Entry Age |
| 1 | Axis Max Smart Term Plan Plus |
| 99.65% | Based on the minimum sum assured | 18 to 65 years |
| 2 | TATA AIA Sampoorna Raksha Promise |
| 99.13% | Rs 502/- per month | 18 to 65 years |
| 3 | Bajaj Allianz e Touch II |
| 99.23% | Rs 873/- per month | 18 to 65 years |
| 4 | HDFC Life Click 2 Protect Super |
| 99.5% | Rs 1,181/- per month | 18 to 65 years |
| 5 | PNB Metlife Mera Term Plan Plus |
| 99.2% | Rs 532/- per month | 18 to 60 years |
| 6 | Aditya Birla Sun Life Digishield Plan |
| 98.4% | Rs 575/- per month | 18 to 65 years |
| 7 | Kotak e-Term Plan |
| 98.29% | Based on the minimum sum assured | 18 to 60 years |
| 8 | Aviva Protection Plus Plan |
| 98.98% | Based on the minimum sum assured | 20 to 65 years |
Benefits of Buying A 75 Lakh Term Insurance Plan
There are various benefits of buying a 75 lakh term insurance policy. Understanding these benefits helps you make wise decisions.
Financial Safety
A 75 lakh term plan offers financial protection to your loved ones in case of your unfortunate death during the policy tenure. Your family can fulfill their financial responsibilities without any hassle.Affordable Premiums
The premiums of a 75 lakh term insurance plan are affordable. You can purchase a 75 lakh term plan for premiums starting at just Rs 500 per month. However, you can use the PolicyX Insurance Calculator to check your term insurance premiums.Additional Rider Options
You can choose additional rider benefits with your 75 lakh term plan to enhance your plan coverage. There are various rider options available, including an accidental death benefit rider, a waiver of premium rider, a critical illness rider, etc.Multiple Payout Options
A 75 lakh term insurance policy allows policyholders to choose how their family will receive death benefits. Various payout options are available, including lump sum or fixed installments, or a combination of both.Tax Benefits
The premiums paid for a 75 lakh term insurance are eligible for tax exemption up to Rs 1.5 lakhs under Section 80 (C) of the Income Tax Act, 1961. Moreover, the death benefits received are also tax-free under Section 10 (10D).Choice of Policy Tenure
The policyholder has the option to choose the policy tenure that best suits their requirements. The policy tenure generally ranges from 5 to 40 years.
Who Should Buy a 75 Lakh Term Insurance Policy?
The following people should invest in a 75 lakh term insurance policy, considering their financial responsibilities and future goals.
Someone in their 20s or 30s
If you are in your 20s or 30s and just starting your career, you must consider investing in a 75 lakh term plan to make sure your loved ones are financially stable even in your absence.Individuals with Regular Income
An individual with a regular income source must consider investing in a 75 lakh term insurance policy to make sure their family can fulfil their financial responsibilities even if they are not with them.Parents
You must buy a minimum of a 75 lakh term insurance plan to make sure your children can easily complete their financial goals even if something happens to you.Individuals with Loans
If you have taken out any kind of debt or loan, you must invest in a term insurance policy to make sure that the loan amount won’t become a burden for your loved ones in your absence.Individuals with Dependents
An individual having dependents must buy a 75 lakh term insurance plan to ensure their dependents are financially stable even if something happens to them.
Factors To Consider When Buying A 75 Lakh Term Plan
There are certain factors that you must consider before buying a term insurance for 75 lakh:
- You must check the claim settlement ratio of the insurance company from which you are buying a term insurance plan. A high claim settlement ratio highlights the efficiency of the insurance company in settling the claims received by it.
- Compare various 75 lakh term insurance plans before buying based on various factors such as benefits offered, premium amount, and customer reviews.
- Consider buying a term insurance plan early in your life as the premium charged is comparatively lower at a young age.
- Opt for only necessary riders with your 75 lakh term insurance plan as each rider costs you an additional premium amount.
- Make sure that the premium for the term insurance of 75 lakhs you are buying fits your budget. The non-payment of the premium amount may lead to a policy lapse.
- Read the policy documents carefully to make sure you understand policy features, benefits offered, and exclusions.
Xpert Insights
You can buy a 75 lakh term insurance plan in your early 20s at a cost less than a good pizza!
The premiums for term insurance of 75 lakh start at just Rs 500.
How To Buy A 75 Lakh Term Insurance Plan?
You can purchase a 75 lakh term insurance policy either from PolicyX.com- one of the best web aggregators or the official website of the insurance company.
Buying from PolicyX.com
Step 1
Visit the official website of PolicyX.com
Step 2
Click on Term Insurance
Step 3
Select your age and gender from the top right corner of the page.
Step 4
Click on ‘View Plans’ and provide information including your city, annual income, date of birth, education details, etc.
Step 5
Choose your coverage amount as 75 lakhs. A list of term plans will be displayed on your screen.
Step 6
Compare various plans and choose the one that best suits your needs.
Step 7
Pay your premiums and you will get the policy details on your registered email address and contact number.
Buying from the Insurance Company’s Website
You can buy a term insurance plan for 75 lakhs directly by visiting the website of the insurance company.
Conclusion
Term insurance for 75 lakh takes care of your family financially in case something happens to you. It is the best investment you can make to safeguard your family. There are various 75 lakh term insurance plans available in India. However, you must choose a plan that aligns with your financial goals.
If you are confused about choosing the right term insurance plan for 75 lakhs, you can visit PolicyX.com or call us at 1800-4200-269. One of our insurance experts will help you choose a plan that best aligns with your financial goals.
FAQs: 75 Lakh Term Insurance Plan
1. What is 75 lakh term life insurance?
A 75 lakh term life insurance offers a sum assured of Rs 75 lakh to the policyholder’s family in case of the policyholder’s unfortunate death during the policy tenure.
2. Which is the best 75 lakh term plan?
Axis Max Smart Term Plan Plus is one of the best term insurance plans that offers 75 lakh coverage at affordable premiums.
3. How to calculate the premiums for a 75 lakh term insurance?
You can calculate the premiums for your 75 lakh term plan by using the PolicyX Term Insurance Calculator.
4. What are the eligibility criteria for a 75 lakh term plan in India?
Like other term plans the minimum entry age to buy a 75 lakh term plan is 18 years whereas the maximum entry age is 65 years.
5. Is 75 lakh term insurance good for me?
Yes, a 75 lakh term insurance is the best investment that you can make for your family. However, you must consider your requirements when buying a term plan for 75 lakh.
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Written By: Himanshu Kumar
Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.
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