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Are you looking for a reliable and affordable way to protect your family’s financial future? A 1 crore term insurance plan offers a life cover of Rs 1 crore at just ₹487, making sure your loved ones are financially secure even if you’re not around. This type of life insurance provides you with your family’s financial stability, peace of mind, and tax benefits at low premium rates.
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Term insurance is like a financial safety net for your family if something happens to you such as death of the breadwinner or the financial burden. But, how big amount should you take to safeguard your family? Considering the increasing costs of living in the cities, purchasing an insurance plan with Rs. 1 crore coverage becomes important.
A 1 crore term insurance plan is a type of life insurance policy that provides a death benefit of Rs 1 crore to your nominee in case of your unfortunate demise during the policy term. It is a simple and affordable way to ensure your family can maintain their lifestyle, achieve their goals, and pay off any outstanding debts, even in your absence.
Choosing the best term insurance plan for 1 crore helps you secure your family’s financial future against the rising living cost in case of your demise.
You need a 1 crore term insurance plan to provide a substantial financial safety net for your family in case something unexpected happens to you. This amount can help them cover essential expenses, pay off debts, and achieve their goals, even without your income.
Here's why it's becoming increasingly important:
Rising costs: The cost of living is constantly increasing, making it more expensive to maintain a comfortable lifestyle and achieve financial goals.
Growing responsibilities: As your family grows and your responsibilities increase, so does the need for greater financial protection.
Peace of mind: Knowing your loved ones are financially secure brings invaluable peace of mind.
A 1 crore term insurance plan offers a simple and affordable way to ensure your family can face the future with confidence, no matter what challenges may arise. You can use the term insurance calculator to check the premiums for a 1 crore term insurance plan.
Now, let’s understand how the best term insurance plan for 1 crore works:
A good financial portfolio includes a term insurance policy, which provides life coverage for a designed duration. Specifically, the best term insurance plan for 1 crore offers a sum assured of ₹1 crore for a pre-determined period known as the ‘Policy Term’.
Let’s understand how a 1 crore term insurance plan works with the help of an example:
In the above example, Pranav, who is a 30 years old non-smoker, buys the best term insurance plan for 1 crore for a 30 year policy term. For the entire premium pay term, Pranav regularly pays the premiums and ensures that the policy remains active. During his 24th policy year, he suffers an unfortunate death, and his family is left financially vulnerable. Since his death occurred during the policy term, the insurer pays the 1 crore sum assured to his nominee. His wife then uses the death benefit amount to take care of her financial needs, like paying off the remaining home loan, taking care of her child’s fees, and other monthly expenses.
Buy Rs 1 cr. life cover at just ₹16/day. Below is the list of the best term insurance plan for 1 crore 2025. You can take a look at these 1 crore term insurance plans and select the one that you like:
Disclaimer: ~Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25. The above plans and premiums are for *1 Cr sum assured for 18 years old with 12 years policy term. Standard T&C Apply. Price would vary basis your profile. Prices offered by the insurer are as per the IRDAI-approved insurance plans. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Term Plans
Here is a list of people who should consider buying term insurance plan for 1 crore in India online. Know what is term insurance first and then buy a term plan for your loved ones.
| Who Should Buy | Benefit of Buying 1 Crore Term Insurance |
| Young/Single People | People who have just started working and are in their 20s and early 30s. This is because they will be able to secure a large life cover for a long policy term at affordable premium rates. |
| People with Debts | People with loans and debts should consider buying a 1 cr term insurance as the payout from this plan can help the family relieve the burden of having to pay off the outstanding loans in their absence |
| Business Owners/Self-employed | Business owners and self-employed should buy 1 crore term insurance to secure their loved ones from business loans or any other liabilities in the event of their untimely demise. |
| Parents with Young Children | Parents with young kids can buy the best term insurance plan for 1 crore because the payout from these plans can help their kids pay for their higher education and other financial needs. |
| Newly Married | People who are newly married can financially support their dependant spouse and help them maintain their current quality of life in your absence. |
Let us look at the various benefits of buying the best term insurance plan in India for 1 crore:
You can get life coverage of 1 crore term insurance for as low as Rs. 487/month. The premium of 1 Cr term insurance plans remains the same throughout the policy term, ensuring you do not have to worry about sudden financial stress.
This high amount of life cover helps you protect your family members in case of your absence. The high life cover received from your 1 crore term insurance plan helps your family fulfil any financial goals they may have or any financial emergencies that may arise.
By obtaining a Rs. 1 Crore term plan, you provide a financial net for your family in the unfortunate event of your death. In such cases, the payout from the policy can be used to settle any outstanding debts, ensuring that your family members inherit a legacy without financial difficulties.
Single payment - You can pay the premium in a single payment during the inception of the policy.
Limited premium payment - You can pay the premium for a limited policy term while ensuring to get the benefits throughout the policy term.
Regular premium payment - You can pay the premium amount on a regular basis throughout the policy term.
You can easily determine a preferred frequency of premium payment for the limited and regular payment methods, like monthly, quarterly, semi-yearly, or yearly.
Lump sum payout- The life cover amount will be paid as a lump sum to your family members.
Regular income- The life cover amount will be paid as a regular income for a fixed income time.
Combination of regular and lump sum payout: The life cover amount will be provided as a mix of lump sum payout and regular income.
The life cover amount of a term plan can be increased by adding optional riders that protects you against critical illnesses, accidental death and disability, major and minor illnesses, injuries and hospitalisation. These riders can be added to your term insurance plan for an additional premium.
The 1 crore term insurance can help you save on your taxes as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act of 1961. It is suggested that you check with your financial advisor to see the applicable tax benefits for your profile.
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Family’s Security From Loans and Debts
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Whole Life Cover till 99/100 years
Get Tax Benefits Up To Rs. 46,800
*All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes as per the prevailing tax laws. Standard T&C apply.
Apart from the 1 crore term plans, some of the sum assured options are listed below, and you can select the one that suits your requirements. Further information on selecting the appropriate sum assured is also available.
Finding the best term insurance plan for 1 crore is an important task, as various insurers offer plans at a competitive rate. However, if you have already decided to buy a 1 Cr term plan to protect your family in your absence financially, here are some of the important parameters you should consider when buying a suitable 1 Cr term insurance plan.
Premium Rate of Term Plan
After going through the benefits, inclusions and exclusions of the policy, the premium rate is an essential aspect of any term insurance plan. The prices of the plan may vary from one insurance company to another. You can use an online term insurance premium calculator to determine different insurers' 1 Crore term insurance premiums. You can compare these plans to find an affordable plan that suits your requirements.
Claim Settlement Ratio (CSR) of Insurer
CSR represents the total number of claims the insurer settled in a year to the total number of claims received within the same year. A CSR of over 95% indicates that the insurer settled most of the claims received in the year and is a reliable company to buy term plans from. Therefore, you should choose an insurer with a high CSR to ensure that your nominees/beneficiaries receive the claim amount on time.
Solvency Ratio
Always check for insurers with a high solvency ratio. A high solvency ratio means the insurer's financial ability to pay out claims. Policy buyers should do thorough research about the insurer’s financial status to confirm whether they have the capability to settle the claims.
Medical test requirements
Read and go through the insurance company’s policy about medical examinations. Some term plans may require a medical check-up based on age and life cover amount. Be informed about any important health tests.
Extra protection
Riders are the add-on benefits that can be added to the base plan to enhance the coverage of the existing term plan. There are different types of riders, such as waiver of premium, critical illness, accidental total and permanent disability, accidental death, hospicare rider, etc. Go through the list of available riders and their benefits to make the most of your 1 crore term insurance plan.
Exclusions
Read plan documents carefully to understand all the exclusions. These are the situations where the plan will not provide any payout. Make sure that you are aware of these implications.
Choosing the best term insurance plan for 1 crore is important to secure your family’s financial future. Here is how you can choose the most suitable 1 crore term insurance online:
Assess your financial needs and requirements: Make sure to assess your family’s requirements and your annual income, as the payout from this plan will act as an income replacement in case of your unfortunate demise. You should also note any financial obligations, like loans or debts, that might fall on your family’s shoulders in your absence.
Premium rates of 1 crore life insurance: Unless the premium amount fits into your budget, you will not be able to buy 1 crore term insurance or pay the price on a regular basis. Thus, it is recommended to buy term insurance policy with an affordable premium according to your income.
Keep inflation rates and cost of living in mind: A term plan once bought, will cover you for decades. During this period, the inflation rates and cost of living are bound to increase. Thus, you should always keep these in mind and look for a 1 crore term insurance plan that will sufficiently cover your family’s needs even after a few years.
Compare 1 crore term insurance plans online: You should always compare the available term plans from different insurers online on the basis of their premium rates, CSR values, benefits offered, riders, and policy terms to find the most suitable term plan. NRI customers can also buy term insurance for NRI plans from Policybazaar and choose the best term insurance plan for 1 crore to financially protect their loved ones in India.
Other Benefits: Apart from providing life coverage, insurance companies offer various features with their term plans like
Add-ons or riders to increase the base coverage of 1 crore life insurance
Option to increase the coverage with changing life stages
Accelerated payouts in case of terminal illnesses
Choosing the right 1 Crore term plan is essential in ensuring that you are not only covered under the right cover amount but also able to pay the premiums without straining your budget. The premiums depend on various factors, one of which is the age. Let us take a look at the monthly premium table and how it changes for a 1 crore term plan for different non-smoking individuals in different age groups:
| Premiums for Different Age Groups | Policy Term | Premiums (Female) | Premiums (Male) |
| 20s | Cover till 70 years | Rs. 664 | Rs. 781 |
| 30s | Cover till 70 years | Rs. 720 | Rs. 915 |
| 40s | Cover till 70 years | Rs. 1029 | Rs. 1281 |
| 50s | Cover till 70 years | Rs. 1627 | Rs. 2079 |
| 60s | Cover till 70 years | Rs. 5000 | Rs. 6318 |
Before buying the best term insurance plan for 1 crore, here is how you can determine the right life cover amount for your profile:
Your Age and Annual Income: You need to take your age at the time of buying 1 crore term insurance into account and your existing annual income. This is because age affects your premium rates and eligibility for certain life cover amounts. Not only that, your annual income may also restrict the sum assured you are eligible to buy the best term insurance plan for 1 crore.
Reason for Purchase: You need to consider the reason why you are buying the insurance. If you are looking for a plan that provides financial benefits as well as wealth creation, a life insurance plan like an endowment or ULIP plan might be a better fit. However, if you are looking for pure risk protection at affordable premiums, a 1 crore term insurance might be a suitable option for you.
Needs of the Dependents: Your family may need a certain amount in your absence, but you also need to consider inflation. A 1 Crore term insurance may be enough to cover your family’s financial needs today, but it may not suffice 20 years later. Therefore, you should consider inflation as a factor while determining the right sum assured.
Financial Liabilities: The loans and liabilities you currently have may fall on your family’s shoulders. Thus, you should consider a life cover big enough to cover all the existing loans so that your family is able to live a comfortable life. You can also use a term insurance calculator to see the premium amount you would need to pay for the desired life cover.
Inflation: Inflation is a gradual yet impactful force that reduces the buying power of money over time. When determining your coverage amount, factor in the potential effects of inflation on future expenses. A 1 crore term insurance plan today should also consider the increased cost of living in the years ahead.
Long-Term Goals: Consider future goals such as your children’s higher education, marriage, or purchasing a home. Your insurance coverage should be sufficient to protect your family now and adapt to their evolving needs over time.
Choosing a plan with more extensive coverage can be beneficial, but it is important to understand your life goals, financial situation, and budget before making a decision. Let’s understand how choosing a higher life cover of Rs. 1 crore impacts you:
Cost-Effective Premiums: Term insurance policies offer comprehensive coverage at affordable rates, making higher coverage like Rs. 1 crore accessible without financial strain. You can easily compare and choose the best term insurance plan for 1 crore from Policybazaar.
Steady Premiums: Lock your premiums throughout the policy term, especially beneficial if bought in your 20s or early 30s, ensuring long-term affordability.
Adequate Cover: A ₹1 crore term insurance plan provides comprehensive coverage, helping your loved ones meet future financial goals and maintain their standard of living.
Riders: Enhance your coverage with riders such as critical illness benefit, accidental death benefit, terminal illness benefit, etc. tailoring the policy to your specific needs and circumstances.
Financial Predictability: Fixed premiums provide financial predictability, allowing you to plan your budget effectively in the coming years.
Below mentioned is the step-to-step guide to buy the best term insurance plan for 1 crore insurance policy from Policybazaar:
Step 1: Visit Policybazaar and Go to the Term Insurance page
Step 2: Fill in the basic details such as name, Date of Birth, and contact number and click on ‘View Plans’
Step 3: Answer the questions about smoking habits, annual income, occupation type, and educational qualification
Step 4: After submitting all the details, a list of all available 1 Crore term insurance plans will be displayed
Step 5: Choose the best term insurance plan for 1 Crore that suits your financial needs and proceed to pay the first premium
Ans. You can buy the 1 cr term insurance plan online by following the below steps:
| Life covers | Premium rates |
| 1 crore INR to USD | ~5.7 USD |
| 1.5 crore INR to USD | ~7 USD |
| 2 crore INR to USD | ~8.1 USD |
| 3 crore INR to USD | ~10.8 USD |
| 5 crore INR to USD | ~16.1 USD |
| 10 crore INR to USD | ~32.2 USD |
| 20 crore INR to USD | ~64.4 USD |
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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