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1 Crore Term Insurance

Heard about the 1 Crore Term Insurance Plan and thinking if it is worth it? Many of us wonder if we really need that big an amount for insurance. With life's ups and downs and costs rising, it's good to think about how much safety net we might need. Now, we'll talk about this big-number insurance plan: what's in it, why it matters, and if it's right for you. So, if you're curious, read on to understand about this type of term insurance plan!

Get Term Plan Coverage of 1 Crore Starting From Just ₹16/Day*
Get Term Plan Coverage of 1 Crore Starting From Just ₹16/Day*
  • Tax Benefit
    Tax Benefit
    Up to 1,50,000**
  • Claim Support
    Claim Support
    Everyday 10AM-7PM
  • 45 Lacs+
    45 Lacs+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

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Best Term Insurance Plans

1 Crore
1.5 Crore
    Tax Free
    1 Cr
Starting From 706/Month
24hr Claim Settlement
Key Features:
  • Special Exit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
See More Plans

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

What is a 1 Crore Term Life Insurance Policy?

A 1 crore term plan is a life insurance policy that provides enhanced protection to the insured’s family. In simple terms, an insurance company pays a sum assured of Rs. 1 crore to the nominees of the policy in case of the demise of the life insured. The coverage amount that a term insurance company will pay is known as a death benefit. The policyholder may have to pay a high premium in exchange for life insurance.

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Key Features of 1 Crore Term Insurance Plan

The key features of Rs. 1 crore term insurance plans are highlighted below:

  • Cost-Effective: Unlike other life insurance products, term insurance plans are the most affordable ones. Term plans are pure life cover plans that provide no savings option to the policyholders. Therefore, you can secure the future of your loved ones cost-effectively.
  • Enhanced Coverage: The policyholders of Rs. 1 crore term insurance plans can buy additional riders and customize their plans. The insurance companies provide many add-on benefits like critical illness benefit riders, accidental death benefit riders, a premium of waiver benefit riders and many others. You may have to pay an extra premium to buy these riders with your base term plan.
  • Attractive Discounts: Term insurance companies provide amazing discounts and rebates to their customers for purchasing high-sum assured plans. Henceforth, you can ensure a stable financial life for your loved ones without worrying about your existing budget.
  • Long-term Protection: Rs. 1 crore term insurance plans provide long-term protection to the policyholders. You can secure the financial needs of your family for a lifetime. If any unforeseen circumstances like a death happen, the nominees will receive assured death benefits.
  • Premium Payment Flexibility: The policyholders of Rs. 1 crore term plans have the flexibility to select from different premium payment terms- monthly, quarterly, half-yearly, or yearly.

Best 1 Crore Term Insurance Plans 2023

The table below highlights some of the best 1 crore term insurance plans in India:

1 Crore Term Insurance Plan

Entry Age

Maturity Age

Sum Assured

Kotak E-Term Plan

18- 65 years

23- 75 years

Rs. 25 lakh- 1 crore

Tata Life Sampoorna Raksha Supreme

18- 65 years

23- 100 years

Rs. 50 lakh- no limit

LIC New Tech Term Plan

18- 65 years

N/A- 80 years

Rs. 50 lakh- no limit

HDFC Life Click 2 Protect Plan

18- 65 years

28- 75 years

Rs. 20 lakh- no limit

Max Life Smart Term Plan

18- 60 years

N/A- 80 years

Rs. 10 lakh- no limit

Bajaj Allianz Life Smart Protection Goal

18- 65 years

N/A- 85 years

Rs. 50 lakh- N/A

Benefits of 1 Crore Term Insurance Plans

The benefits of purchasing Rs. 1 crore term insurance plans are enlisted in the below section:

  • Early Savings: Term life insurance allows you to start savings at an early age. Anyone above the age of 18 years can buy a term plan to secure the future of their loved ones.
  • Financial Security: The policyholders of the Rs. 1 crore term insurance plan can ensure financial protection for their loved ones. An insurance company pays a death benefit up to a chosen sum assured in case of the demise of the life assured.
  • Peace of Mind: Unfortunate happenings like the death of the breadwinner of the family can bring financial hardship for the dependents. However, by purchasing a high sum assured term life insurance, you can ensure mind peace for your loved ones during this tough time.
  • Comprehensive Protection: With a 1 crore term insurance plan, the policyholders can buy additional riders to provide comprehensive coverage to their loved ones.

How 1 Crore Term Insurance Plans Work?

Rs. 1 crore term insurance plans work just like other life insurance products. The insurer provides a death benefit to the nominee in the event of the demise of the life assured. Let’s understand the workings of 1 crore term plans with the example of Rajat.

Rajat is an engineer working for an IT firm. He used to live in a rental with his family. But recently, he took out a house loan to buy his dream home. After two years of taking a loan, Rajat had a heart attack and was declared dead. Since he is the only breadwinner in the family, he bought a Rs. 1 crore term insurance plan to financially secure his family. So, after the demise of the Rajat, the nominees for the term life insurance policy can claim the policy. Additionally, all the loans and debts of the Rajat will be borne by an insurance provider.

Who Should Buy a 1 Crore Term Insurance Plan?

Term insurance plans with a high sum assured will secure your family against all financial contingencies. Though Rs. 1 crore term plans are beneficial for all, it is important for some people to buy them. Some of the individuals include:

  • People with many dependents like parents, children, spouses, and more.
  • People with limited income and huge financial commitments.
  • If you have loans or debts that may cause financial hardship for your loved ones after your demise.
  • Individuals who want to ensure a financially safe future for their dependents.


Opting for a 1 Crore Term Insurance Plan is a substantial step in safeguarding your family's future. As we've explored here, understanding the nuances and benefits of such a plan is crucial. While a crore might sound like a significant amount today, considering inflation and future financial needs will provide clarity. Always do your research, consult professionals if needed, and choose a plan that aligns with your family's aspirations. Remember, it's not just about protection; it's about ensuring your loved ones thrive even in your absence.

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FAQ About 1 Crore Term Insurance

  • Why should I consider buying term insurance?

    It's a safety net. If you're the main breadwinner, term insurance can help ensure your family is financially okay if you're not around. It can cover things like bills, loans, and everyday expenses, giving you peace of mind.

  • How long should my 1 crore term insurance last?

    It depends on your needs. Some pick a term that lasts until their kids are adults or until they retire. Others might choose a term that covers their biggest loan, like a mortgage. Think about what big expenses you want to cover and pick a term that suits.

  • How much does 1 crore term insurance cost?

    The cost, or 'premium', depends on a few things: your age, health, the term length, and the payout amount. Younger folks and those in good health usually get better rates. But it's always a good idea to shop around and compare.

  • Can I change my mind after getting a policy?

    Most insurance companies offer a 'cooling-off' period. It means if you change your mind shortly after buying, you can cancel and get any money back. But after that, if you stop paying, your coverage usually just ends.

  • What happens at the end of the policy term of my 1 crore term insurance policy?

    Once the term ends, so does the coverage. You won't get any money back. If you still want coverage, you'll have to get a new policy. And as you'll be older then, it might cost more.

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