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
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.
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.
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
Term insurance policies offer unchanging premiums. This means that, if you
avail a “level term” policy, your premium stays the same during the policy
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
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.
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
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.
We are providing a fair comparison here for your considerations.
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 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!
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
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
with an increasing monthly income (an increase of 10% p.a.). They also enhance cover at
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!
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
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
and holistic coverage, ensuring the greatest amount of financial safety!
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
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 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!
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
If you make your decision and are wondering how to choose a sum assured, you can use this
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.
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!