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Best Term Insurance Plan With Rs. 1 Crore Sum Assured

Published On Jul 08, 2021, Updated On Sep 19, 2023

With its primary purpose of providing financial security to your family, a term insurance policy has become quite popular among individuals due to its low and affordable premium prices. You can easily avail a term insurance policy with an adequate life cover to help your loved ones get through tough times. Moreover, a plan for Rs. 1 Crore can also be purchased to help arrange for the repayment of your loans, your children's education, marriage and your ageing parent's health conditions. The following article focuses on Rs. 1 Crore term insurance plans and outlines the best available options.

What is a Rs. 1 Crore Term Insurance Policy?

This term insurance plan that offers coverage for Rs. 1 Crore can be purchased online as well as offline. According to the plan, the sum assured of Rs. 1 Crore term insurance plan is offered to the beneficiary if the life assured dies within the pre-decided policy tenure. Interestingly, such a massive amount is being provided under low premium rates in a term insurance plan compared to other types of life insurance policies, which makes it quite desirable. 

Who Should Purchase a Rs. 1 Crore Term Insurance Policy?

The term insurance plan for Rs. 1 Crore is best suited for individuals between the age range of 25 - 35 years as such a considerable amount of sum assured would likely rise in 30 years.  Moreover, the family's sole breadwinner with an income between Rs. 5 - Rs. 7 Lakhs can avail the plan to enjoy maximum benefits. 

 Best Term Insurance Plan for Rs. 1 Crore 

Here is a list of some of the best term insurance plans for Rs. 1 Crore to help you select the right plan for yourself. 

1. SBI Life Insurance eSHield Term Plan

This traditional protection plan comes with 2 plan structure options. You can either avail a level cover benefit where the sum assured will be fixed for the entire policy duration or opt for an increasing cover benefit. Under this, the sum assured rises by 15% after the end of every 5th plan tenure. However, both the covers have an additional benefit of accelerated terminal illness benefit. Moreover, the policy offers two-rider alternatives of accidental death benefit rider and accidental total and permanent disability benefit rider. The minimum age to avail either option is 18 years, while the maximum age is 65 years for the level cover benefit and 60 years for increasing cover benefit. Moreover, the maximum maturity age is 80 years for a level cover and 75 years for an increasing cover. 

2. ICICI Prudential iCare II Term Plan

Under this plan, you can choose between two premium payment options. On the one hand, the regular pay method enables the life assured to pay the premium throughout the policy tenure, ranging between 5 - 67 years. Moreover, there is a regular pay option II with accidental death benefits whose policy duration can be between 5 - 62 years. On the other hand, the one pay method enables the life assured to pay the entire premium just once. This plan option has a duration range of 5 - 10 years. Furthermore, the minimum age of eligibility is 18 years, while the maximum age is 65 years. 

3. PNB MetLife Mera Term Plan  

Along with the coverage of Rs. 1 Crore, this pure protection plan can be purchased for up to 99 years of age. The eligibility age range lies between 18 - 65 years, with a policy tenure range between 10 - 81 years. The plan offers multiple rider options, which help individuals devise a customized plan according to their personal and professional needs. Some of these include serious illness cover, critical illness cover, accidental death benefit and accidental disability benefit. 

4. HDFC Life Click 2 Protect Plus Plan

The online term insurance plan offers 4 cover options: Income Option, Income Plus Option, Life Option, and Extra Life Option. Moreover, an alternative between a single premium payment option or a regular premium payment option can be selected. You can further add rider options like accidental disability benefit or critical illness benefit to personalize your policy plan. The eligibility range is 18 - 65 years, and the policy term can be between 10 - 40 years. 


All the plans mentioned above can be easily customized according to your financial needs and family’s future goals. It is advisable to choose the best plan after comparing all such policies offered by various insurance providers to make a better and informed financial decision. 

Also read - Whole Life Insurance Policy: Compare Whole Life Plans Online

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.   

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