1 crore term insurance plans

1 Crore Term Insurance Plans in India

There is no denying the fact that the living standard of people these days has become quite expensive due to the ever-increasing inflation rate. Everyone of us wants to lead a good lifestyle and is inclined towards leading a luxurious life.

With increasing expenses, people have become smarter with their investments so as to provide ultimate financial protection to their families. Individuals are moving towards insurance and they are mostly focusing on term plan.

What Is Term Insurance?

Term insurance is generally known as a death benefit policy among investors. A term plan is meant to provide financial support to the dependents/ surviving family members of the policyholder in case of an unfortunate event. The best thing about term insurance is that is it not necessarily restricted to the people with good pay package but is also available to people with average payout at affordable premiums.

Who Should Choose Term Plans with a Cover of Rs 1 Crore?

Any insurance seeker who is in the range of 30-40 years and is the breadwinner of his family should go for Rs. 1 crore term plan to provide their families with financial security in case of his unfortunate demise.

About 1 Crore Term Life Insurance Plans:

There are many insurance companies available in the Indian market that offer Rs 1 crore term plans.

Initially, when newer insurance companies came into the picture in the Indian insurance market, the premium rates displayed by them were not-so-affordable on the insurance seekers’ pockets. However, after IRDA passed the new regulations; insurance companies reduced the premium rates for Rs 1 crore or above term plans.

Even private insurance companies like Birla Sun Life, ICICI Prudential Life, HDFC Life are providing quite lower premium rates of approximately Rs.15,000; whereas, government-backed entities like LIC provides a rate of around Rs. 25,000 to 32,000.

While comparing Rs 1 crore term plans offered by different insurance companies, it is important to check the underwriting norms of the companies as there can be stringent rules behind lower premium amounts.

Which Is The Best Rs. 1 Crore Term Plan?

Finding  the best  term plan with Rs. 1 crore cover is not an easy thing to do as there are several insurers that claim to be best in the industry. While searching for an effective term plan, it is advised to look for its exclusions, benefits, features, inclusions, etc. thoroughly so that you can easily compare them.

Comparing term plans solely based on their premium amount is not the right approach.  It is true that the premium amount is an important consideration but, it should not be the only thing to be looked at.

You need to pay equal attention to other relevant things too, such as available riders with the plan which would be beneficial for you and your family in the long run.Claim settlement ratio is another important thing you should not forget to check as it will help you get an easier and hassle-free claim procedure.

Comparison of Rs 1 Crore Term Plans

It’s important to understand that there are many ways to rate a particular insurance product like term insurance. However, by far, the most important criterion is the claim settlement ratio of an insurance company.

The table below will give you an idea of the ratings of the best 1 crore term insurance policies available in India.

Company Plan Information Plan Highlights Annual Premium
Max Life Insurance Online Term Plan Plus-Basic Cover i) Complete online process;

ii)Onetime payment

HDFC Life Click 2protect 3D Plus Life Option i) No monthly payout;

ii)Onetime payment

ICICI Prudential iProtect Smart Lump Sum Plan i)Monthly income or lump sum benefit;

ii) Inbuilt terminal illness cover

Edelweiss Life Tokio Total Secure+ i)Accelerated Critical Illness Cover;

ii) Discount for nonsmoker, female lives and Higher Sum Assure

Future Generali Life Insurance Flexi Online Term Plan i)Life cover till the age of 75 years
ii) One Time: Rs. 1 crore on death
  • The premium amount shown is for the illustration purposes for a 30-year old healthy male (non-smoker) for a sum assured of Rs 1 crore.


Choosing a term insurance plan with Rs 1 crore cover might seem a tricky job to do if you don’t pay enough attention to aspects like the plan’s benefits, inclusions and exclusions mentioned on the policy document. Try opting for what is good for your family’s future. Along with that, make sure to check the riders available under the policy as well as the claim settlement ration of different insurers. This will ultimately help you smooth up your work.

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