What Is the Eligibility for 1 Crore Term Insurance?

Life is unpredictable, you never know what will happen next, thus protecting your loved one’s future is of utmost importance. With a number of insurance plans available like 1 crore term insurance, you can now easily safeguard the future of your family even in your absence. So, scroll through the section to know all about 1 crore term insurance and its eligibility.

What is a 1 Crore Term Insurance Plan?

A 1 crore term insurance plan as the name suggests provides a sum assured of up to Rs. 1 crore. Offering coverage of 1 crore, a 1 crore term insurance plan is highly recommended for those seeking higher coverage. Thus, with a 1 crore term insurance plan which is available at affordable premiums, you can buy a comprehensive term insurance plan for your loved ones. 

Best Term Insurance Plans Offering 1 Crore Coverage

Listed below are the best term insurance plans with 1 crore coverage:

Eligibility of 1 Crore Term Insurance Plan

The minimum entry age in order to buy a 1 crore term insurance plan is 18 years and for the most 1 crore term insurance plans, the maximum entry age is 65 years. Sometimes, the maximum entry age of a 1 crore term insurance plan is 85 years. So, while buying a 1 crore term insurance plan, you must go through the terms and conditions before buying one.

Tips to Buy the Best 1 Crore Term Insurance Plan

Listed below are the tips that you must keep in mind to buy the best 1 crore term insurance plan:

• Premium: While buying any term insurance plan that provides coverage for 1 crore, you must first check its premium. This is because unless you buy a plan with an affordable premium, it will become difficult to pay the premium on time. 

• Inflation Rates: A term insurance plan is a long-time investment. So, while buying a term insurance plan, you must keep in long-term factors that may play a role such as the inflation rate. As the inflation rates are certain to increase in the future, you must consider the inflation rates before buying one.

• Analyse your family requirements: Before buying any term insurance plan, you must first analyse your family requirements. Keeping in mind your income, loans, debts, and other things, you should asses your family requirements and accordingly buy a 1 crore term insurance plan.

• Other benefits offered: You should also keep in mind if the 1 crore term insurance plan you are buying offers additional benefits or not. For instance, you must check the add-ons available, the option to increase coverage later, as well as if any additional payouts are available or not. 

• Compare term insurance plan: You must also compare the different term insurance plans available before buying one. This will help you understand all about the inclusions and exclusions of the 1 crore term insurance plan and pick the best-suited term plan.

Take Away

So, if you want to enjoy greater term insurance coverage, a 1 crore term insurance plan is highly beneficial for you. For the best term insurance plans, you can also explore InsuranceDekho website.

Also read: Tata AIA Term Insurance Login