Prices Increasing Soon
With the booming rate of inflation, it has become imperative to create a financial backup for your loved ones. Ensuring proper financial security for your family becomes even more important if you are the single breadwinner of the family. Purchasing a term insurance policy is the best way to make sure that your family is financially protected in the long-term. Moreover, if you are the single earning member of the family and you have dependents to look after then consider purchasing a term insurance plan, which offers a higher coverage of Rs.1 crore or above.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Read further to know why you should consider purchasing a term insurance plan which offers higher coverage.
A term life insurance policy not only provides death coverage to the family of the insured but also ensures to take care of the financial liabilities of the family in the absence of the breadwinner of the family. The 1 crore term insurance plan is a pure protection plan which promises to pay the promised coverage amount to the nominee of the policy in case of unfortunate death of the insured person during the policy tenure. Higher coverage of 1 crore or more works as a financial safety net for the family and help them to fulfill their financial goals and meet the liabilities of the family.
Note: Know what is term plan first and then buy a term plan for your loved ones.
Note: It is suggested to calculate the term plan premium on the term policy calculator online tool by Policybazaar before buying.
Whether you buy a 1 crore term insurance plan or not, it is important to know that the coverage you choose for your term plan should be 10-15 times your annual income. As a comprehensive and simplest form of life insurance product, the term plans offer the advantage to purchase a higher coverage amount at a minimal premium rate. Thus, make sure that you follow this thumb rule while purchasing a term insurance plan and also consider the other significant factors like health conditions, age, dependents, annual income, etc. By considering all these factors equally and by comparing the quotes of the plan online you will be able to select the most remunerative plan as per your suitability and requirement.
Along with the benefit of providing life insurance coverage to the family of the insured, the term insurance plan also works as an income replacement for the family in the event of the death of the insured person. Moreover, if you choose a term plan with higher coverage of 1 crore or more, then it can work as an asset to take care of the future liabilities of the family-like financing your child’s higher education, repayment of home loan, payment of credit card bills, etc. in you absence.
Selecting an appropriate policy needs a better understanding and a lot of planning of what the policy has to offer. A higher coverage like 1 crore term insurance plan provides you a vast scope to accomplish your financial objectives like taking care of a child's’ higher education, assurance against vulnerabilities, securing the retirement year of your spouse, etc. You must evaluate your financial requirements and opt for an appropriate policy, which fulfills those needs to the best. Also, make sure you consider the future aspects like loan repayment, inflation, paying credit card bills, etc. while zeroing in on an Rs.1 crore term insurance plan. keep in mind that with the higher coverage term insurance plan, your family will be able to deal with all these aspects in case of an emergency. As the financial requirement of an individual differs from person to person make sure you consider these aspects before purchasing the right term insurance policy for your family.
In this day and age, almost all insurance provider offers term insurance policies which provide Rs.1 crore life insurance coverage or more. As a policy buyer, you can compare the quotes of these plans online check the reviews of the plan, and choose the plan that best suits your requirement. Moreover, also check the policy inclusion and exclusion so that you know what your policy offers and in what cases it can reject the claims.
The insurance experts always advise purchasing the policy at a young age, as with the increase in policy tenure the premium of the policy also increases. Moreover, if you are the sole breadwinner of the family and have dependents then you should seriously consider investing in a 1 crore term insurance plan. Moreover, you can also make use of a term insurance premium calculator to calculate the accurate premium of the policy.
Note: Check out the best term life insurance in India and choose one that suits your requirements.
Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.
˜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.
© Copyright 2008-2025 policybazaar.com. All Rights Reserved
+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.
Buying a home is a major milestone, but it also comes with
Read more
Amit was a 38-year-old marketing professional with big dreams
Read more
Are you looking for an affordable way to protect your family's
Read more
Term insurance is a crucial financial safety net for families
Read more
HDFC Life is a well-known insurance provider in India, offering
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
