Comparison of Plans Offering 1 crore Term Insurance
Updated On Oct 13, 2023
Table of Contents
A term life insurance is one of the most beneficial investments one can make. It helps you stay stress-free, now as well as in the future. An Rs. 1 Crore term investment is also a very convenient plan. Although the sum might sound too large, it is actually a very viable option when spread over a certain number of years.
What is a Rs. 1 Crore Term Insurance Plan?
An Rs. 1 Crore term insurance plan essentially assures the policyholder that in case of their death, their family members will receive a sum of Rs. 1 Crore as a sum assured from the insurance company. Term insurance, in general, is life insurance but for a fixed period of time or the term. Riders or benefits added to the basic plan assure coverage costs for other circumstances like in case of disability, accidents, etc.
Top Rs. 1 Crore Term Insurance Plans
There are multiple insurance companies that offer Rs. 1 Crore Term Insurance Plans. It might be daunting to make a choice after seeing so many options. To help you out, here are the best ones available currently.
Check out the table below to narrow down your search.
|
Rs. 1 Crore Term Insurance Plans |
Rider Benefits |
Minimum Entry Age |
|
Bajaj Allianz iSecure Term Assurance Plan |
Premium waiver, accidental death, and complete/ partial disability cover |
18 years |
|
LIC Tech Term Plan |
Level Term Assured option, |
18 years |
|
SBI Life Insurance eShield Term Plan |
Accidental death as well as disability cover |
18 years |
|
Aviva i-Life Total |
Permanent total disability, terminal illness and critical illness cover |
18 years |
|
HDFC Life Click2 Protect Plus Plan |
Accidental disability, critical illness |
18 years |
The following are some of the most essential features of the above-mentioned plans:
Bajaj Allianz iSecure Term Assurance Plan
- Smokers, non-smokers, and preferred non-smokers are subject to different premium rates
- Three payout options are available with this plan
- All individuals above 18 years of age and below 60 can apply.
LIC Tech Term Plan
- No upper limit to assured sum is applicable
- A grace period of 30 days is allowed for premium payment
- No maturity benefits are offered.
SBI Life Insurance eShield Term Plan
- Terminal illness cover is available with this plan
- Comes in two variants: level cover benefit and increasing cover benefit.
Aviva i-Life Total Plan
- It is available in 4 variations
- The maximum entry range is 60 and 65 years, depending on the plan variant.
HDFC Life Click2 Protect Plus Plan
- A variety of benefits can be added to the basic plan
- Single as well as regular premium payment options are available
- Up to 4 plan options are available.
Endnotes
Getting a term life insurance plan is doing a great duty to your family. In your absence, you assure them of financial assistance and stability which is essential in today's world. Additionally, the various kinds of riders available also make sure you do not have to face any financial crisis should there be any accidents or illnesses.
Also Read
Why Should We Buy Rs. 1 Crore Term Insurance?
10 Popular Term Insurance Plans in India
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.
