With the raised standards of living and healthcare costs constantly on the rise, insurance is more necessary now than ever. The advent of newer technologies and amplified global exposure is also causing novel diseases every day. Healthcare expenses are nothing but skyrocketing. Owing to all these factors, life is increasingly becoming financially unstable.

Term Insurance Plans are Essential

To mitigate the risks, more and more people are opting for term insurance plans. With its dual benefit, term insurance helps to provide the death benefit to the insured and evade the instabilities surrounding financial planning for the entire family. In case of the death of the policyholder, especially when he/she is the sole breadwinner, the family receives the sum assured, which helps to cover the critical expenses in their absence like loan repayment, children's education and marriages.

Given the numerous benefits of a term policy, an insurance product like the 1 crore term insurance plan becomes even more instrumental, undeniably.

What is a 1 Crore Insurance Plan

A 1 crore term insurance is a type of life insurance that provides financial cover of the said amount to the family in case of policyholder’s untimely demise. This large sum comes as a huge protector for the family, as they can meet the significant expenses without worrying about financial shortcomings.

Benefits of a Term Insurance for 1 Crore

Rs. 1 crore is a massive amount of money. In times of crisis, it can indeed be a lifesaver. The various benefits that make term insurance so desirable are:


This plan is a pure life cover with no savings component, which makes it one of the cheapest forms of life insurance that you can purchase. Additionally, the premiums are also very affordable in comparison to other types of life insurance.

Steady Premiums

Term insurance policies offer unchanging premiums. This means that, if you avail a “level term” policy, your premium stays the same during the policy duration.


Due to the low premiums, more people can avail the Rs. 1 crore term plan. This kind of accessibility is only present in the term plan. Therefore, it becomes a guaranteed and easy way to protect your family against uncertainties.

Additional Cover

As you grow older, your premium may increase after one expiry. Meeting these higher premiums can also give you a greater sum assured and more coverage. You can also bring new members under this plan for slightly higher premiums.


You may choose to add to your term plan with plans like critical illness insurance. This makes you eligible for an additional payout if and when you contract such an illness, along with the death benefit you get.

Tax Benefits

Premiums paid towards term insurance for 1 crore are eligible for tax benefits under Section 80C of the Income Tax Act. The death benefit received by the nominee under the plan is also eligible for tax deductions under Section 10(10D).

Best Term Insurance Plans for 1 Crore

All insurance providers in India provide term insurance as an integral part of their offerings. While there is a range of policies that customers can choose from, it is always advisable to make the right decision considering one’s age, lifestyle, financial needs and financial planning. Other essential factors that can affect your decision while purchasing 1 crore term plan are premium cost, policy features, and ultimate benefits which vary from policy to policy. Therefore, it is imperative to research and compare term insurance policies of 1 crore offered by various insurance providers.

Compare and buy the term insurance plan for 1 crore here

We are providing a fair comparison here for your considerations.

HDFC Life Click 2 Protect - 1 Crore Life Insurance Protection Plan
  • Sum Assured: Rs. 25,00,000 – no maximum
  • Entry Age: 18-65
  • Maturity Age: 85
  • Premium: Rs. 2,376 – no maximum
  • Premium Payment: Regular – you pay premiums throughout the chosen policy term; Limited – you pay premiums for 5, 10, 12 years or your chosen policy term less 5 years; Single – you pay the premium once.
  • Policy Term: 5 years for Life Option and Extra Life Option & 10 years for all other options; 85 years – Age at Entry for Life Option and Extra Life Option & 40 years for all other options

HDFC Life Click 2 Protect Plus gives you extensive security (financial and otherwise) at a reasonable cost. It encourages you to insure yourself and your friends and family against the vulnerabilities that life may toss at you. This term insurance plan provides a wide spread of choices with various riders so you can pick the plan perfectly befitting your needs. You can even tie down your family's everyday needs when you are not around through a monthly income option under the Income and Income Plus Option. With such extensive coverage and benefits, HDFC’s 1 crore life insurance policy is definitely deserving of a spot on this list!

ICICI Prudential iProtect SmartLife Cover Plan
  • Sum Assured: Minimum – Subject to the minimum premium; Maximum – no limit
  • Entry Age: 18-65 years
  • Maturity Age: 23-75 years
  • Premium: Rs. 2,400 p.a. (excluding service tax)
  • Premium Payment: Single Pay, Regular Pay, Limited Pay; Mode - Single, Yearly, Half-yearly and Monthly
  • Policy Term: Life/Life Plus – 5-40 years (Regular Pay), 10-40 years (Limited Pay), 5-20 years (Single Pay); Life & Health/All In One – 5-30 years (Regular Pay), 10-30 years (Limited Pay), Single Pay N/A

ICICI Prudential iProtect SmartLife Cover Plan is probably the most comprehensive coverage plan on this list. With never-ending options and many benefits, it is one of the top term plans in India. It calculates your premium depending on your sum assured and policy term while including critical illness benefits and giving you four different payout options: lump sum, income, increasing income, and lump sum plus income! It also covers the insured until the age of 99 and lets you add the accidental benefit at any point during your policy. This way, ICICI’s 1 crore insurance’s sheer range of choice is incredibly vast and, therefore, should definitely be in consideration when looking at potential insurance policies!

Max Life Online Term Plan Plus
  • Sum Assured: Rs. 25 lakhs - 100 crores
  • Entry Age: 18-60 years
  • Maturity Age: 85 years maximum
  • Premium: Rs. 2,200 (Regular Pay); Rs. 2,18,44,600 (Pay until 60 variant)
  • Premium Payment: Annual, semi-annual, quarterly, or monthly
  • Policy Term: 10 - 50 years

The Max Life Online Term Plan Plus insurance policy is comprehensive and covers a number of illnesses, including critical illnesses, while providing death benefits. the death benefit has three options for payout: a lump-sum payout (100% of sum assured), a lump-sum payout (100%) with a monthly income (0.4%) for ten years, and a lump-sum payout (100%) with an increasing monthly income (an increase of 10% p.a.). They also enhance cover at important milestones such as marriage, childbirth, or house loans. Finally, you only need to pay premiums until the age of 60 while enjoying lifelong cover beyond that. Therefore, Max Life’s 1 crore term insurance is very desirable with discounts for higher sums assured and allowing online purchases, making it easier to get coverage for oneself!

Aegon Life iTerm Insurance Plan
  • Sum Assured: Rs. 10 lakhs - no maximum
  • Entry Age: 18-65 years
  • Maturity Age: 75 years maximum
  • Premium: Rs. 12,635 - 48,201 (example premiums for healthy Non-Smoker 30-35-year-old male, exclusive of taxes)
  • Premium Payment: Single, Annual, Half-Yearly, and Monthly
  • Policy Term: 5 - 75 years

There are several benefits offered by the Aegon Life iTerm Insurance Plan. These include payout options under the death benefit, advance payment of 25% on terminal illness diagnosis, and several rider benefits. These riders include accidental death cover, 2 types of critical illness covers, and a specific critical illness cover for women. This plan mainly benefits primary breadwinners and gives them financial security in the possibility of crisis. Depending on their life and lifestyle choices, they may need specific benefits over others and Aegon’s 1 crore term insurance allows for these benefits by providing a wide range. Aegon Life, therefore, offers comprehensive and holistic coverage, ensuring the greatest amount of financial safety!

Edelweiss Tokio Life – Zindagi Plus
  • Sum Assured: Rs. 25 lakhs - no maximum
  • Entry Age: 18-65 years
  • Maturity Age: 28-80 years
  • Premium: Rs. 3,000 (Annual); Rs. 2,000 (Semi-Annual); Rs. 1,250 (Quarterly); Rs. 300 (Monthly)
  • Premium Payment: Annual, Semi-Annual, Quarterly, Monthly
  • Policy Term: 10 - 62 years

Between the top-up benefit, cumulative benefit, and death benefit the increases in sum assured under this Edelweiss Tokio 1 crore insurance plan are fast and offer additional coverage. An individual starting with Rs. 1 crore can double this amount within the first 12 years of the policy and then continue getting Rs. 2 crores coverage until the end of your policy. Zindagi Plus also offers life stage benefits for the 1st marriage, the birth of the 1st and second child, and the home loan. Combining this with the premium waivers, range of riders, hospital cash benefits, critical illness cover, and accidental total or partial permanent disability rider etc. allows for lump-sum payouts that protect the insured’s financial status in times of crisis. Therefore, Edelweiss Tokio ensures that the insured is always well-covered!

SBI Life – eShield
  • Sum Assured: Rs. 35,00,000 – no maximum (Sum Assured would be in multiples of Rs. 1,00,000)
  • Entry Age: Level Cover – 18-65 years; Increasing Cover – 18-60 years
  • Maturity Age: 80 years for Level Cover Benefit; 75 years for Increasing Cover Benefit
  • Premium: Yearly – Rs. 2,779; Half-Yearly – Rs. 1,418; Quarterly – Rs. 723; Monthly – Rs. 237
  • Premium Payment: Yearly, Half-yearly, Quarterly & Monthly
  • Policy Term: Level Cover – 5-80 years; Increasing Cover – 10-75 years

SBI Life – eShield gives you the benefit of a consistent and straightforward online procedure of acquiring life insurance. For those looking for financial security for their family, SBI Life - eShield offers a range of advantages at a reasonable premium. This online term plan provides security, is adaptable and straightforward, consistent and reliable. This means it guarantees your family's financial status; you can choose between two benefit structures and two-rider alternatives with reasonable premiums, and you can get a reliable second medical opinion – all through a simple online procedure! By having so many options, SBI’s 1 crore life insurance is perfect for any individual seeking the financial security net that insurance provides!

LIC Amulya Jeevan II
  • Sum Assured: Rs. 25,00,000 – no maximum
  • Entry Age: 18-60 years
  • Maturity Age: 70 years
  • Premium: Minimum – Based on the minimum sum assured value and the age of the insured; Maximum – no limit
  • Premium Payment: Regular Pay
  • Policy Term: 5-35 years

LIC Amulya Jeevan II is not a plan focused on profit. Instead, it is a non-participating and non-linked plan. This means it does not participate in the profits of LIC. It only provides life insurance. Apart from this kind of pure intention, LIC’s 1 crore life insurance also offers a free-look period, letting the insured decide whether they want to stay connected with the policy. It also determines the premium based on the insured’s age. This stays constant throughout the policy term. Therefore, opting early for this plan reaps maximum benefits. Although it does not offer a free-look period, these stand-out features have put it on our list as a plan up for serious consideration!

Who Should Opt for 1 Crore Term Insurance?

Any individual with a regular lifestyle, financial needs and a family to take care can buy term insurance of 1 crore. There are certain vital factors to keep in mind while purchasing this plan:

  • Your age matters – the younger you are, the lower your premium.
  • The kind of work environment you have.
  • Are you the sole breadwinner in your household?
  • Keep your budget in mind so you can optimise your purchasing decisions.
  • Your family medical history will give you an idea of what illnesses you have. A genetic predisposition that could affect your decision.

If you make your decision and are wondering how to choose a sum assured, you can use this simple formula:

1 Crore Term Insurance Sum Assured = [Family’s Lifelong Expenses Adjusted for Inflation + Expenses on Future Goals + Debts/Loans] – Savings

1 Crore Term Insurance Premium Calculator

You can also use the term insurance premium calculator to see what plan will most suit you. Most stated premiums are based on a healthy male who is a non-smoker. But in 3 easy steps, you can also figure out what premium you are likely to get in your term plan.

  • Step 1: Enter your personal information regarding age, number of children, marital status, annual income, life cover etc. You may also be asked about having a smoking habit.
  • Step 2: Then, you enter your desired sum assured and the desired policy term. Here, you can also say whether you would like a lump-sum payout or a monthly income payout.
  • Step 3: Press submit and let the calculator determine which insurance plans are best suited to your needs. Once you have an idea of what works for you, your decision is made much easier and relevant.

Ensure you have all the information in hand before using the calculator. This speeds up the process and allows us to find you the ideal term insurance plan for 1 crore, much faster!

1 crore term insurance premium calculator

Compare and find the best term insurance plan for 1 crore in just a few clicks!