Best 1 Crore Term Insurance Plans In India

Published On Jun 11, 2021 3:00 PM By InsuranceDekho

Insurance is a must these days for a financially stable and secure future. With many difficulties that can crop up from time to time, it is important to start saving early so that you do not have to worry about the future. A term insurance plan is one of the best ways to do this. It is an affordable option for insurance that keeps you covered for a certain period of time. Term insurance policies also provide a death benefit which is greatly helpful to provide financial support to your beneficiaries in your absence.

What is a 1 Crore Term Insurance Plan?

A 1 Crore term insurance plan is one where the sum assured is 1 Crore. The sum assured is the amount that is paid out to the beneficiaries of the policyholder on their death. With the rising rates of inflation and subsequent living costs, 1 Crore is quite a reasonable amount to save up. It will help sufficiently provide for your family even in case of your sudden death. Plus, this is an affordable insurance option so saving up to 1 Crore over the span of years is a reasonable quest.

Best 1 Crore Term Insurance Plans In India

There are many different 1 Crore term insurance plans that are available in India. To help you narrow down your search, here are some of the best ones among them:

Insurance Provider

Term Insurance Plan

Maximum Entry Age

Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Total Secure Plus

65 years

Bajaj Allianz General Insurance

Bajaj Allianz iSecure Term Assurance Plan

60 years

SBI Life Insurance

SBI Life Insurance eShield Term Plan

65 years (for level cover option)

60 years (for increasing cover option)

Aegon Life Insurance

Aegon Life i-Term Insurance Plan

65 years

Life Insurance Corporation of India

LIC Tech Term Plan

40 years

1. Edelweiss Tokio Life Total Secure Plus

It provides cover for up to over 35 critical illnesses. You can either choose a basic term plan, one with a Basic Health Cover or a Comprehensive Health Cover. One can also regulate the payout that they want from the term plan.

2. Bajaj Allianz iSecure Term Assurance Plan

The Bajaj Allianz iSecure Term Assurance Plan comes in three types, the basic life cover, the basic life cover with monthly income and the basic life cover with increasing monthly income. This provides potential buyers to pick a choice according to their convenience. There are also multiple rider options available such as accidental permanent total or partial disability benefit rider, accidental death rider etc. 

3. SBI Life Insurance eShield Term Plan

The SBI Life Insurance eShield Term Plan provides a death benefit as well as a terminal illness cover. It comes with two rider options, an accidental death benefit rider and an accidental total and permanent disability rider. 

4. Aegon Life i-Term Insurance Plan

The maximum maturity age for the Aegon Life i-Term Insurance Plan is 100 years which provides sufficient cover for a lifetime. It comes with three variants, which one can choose depending on the cover protection they require. It also provides advantages for non-smokers. 

5. LIC Tech Term Plan

With the LIC Tech Term Plan, the death benefit can be paid out in instalments. There is no limit to the maximum sum assured under this plan. There are rider benefits that are available with the plan as well as a grace period of 30 days that is offered to all policyholders.

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Conclusion

A 1 Crore term insurance plan is a great investment for the future. It provides sufficient financial cover for the future with affordable instalments. The above-mentioned plans are some of the best that are available in this category and will make for a great purchase.