Buy 1 Crore Term Insurance Plans at Rs.14/day

What Is 1 Crore Term Insurance Plan?

A 1 cr term insurance plan is a type of life insurance policy with a sum assured of ₹1 crore which is paid to the nominee in case of an unfortunate death of the policyholder during the policy term. Such a high life cover ensures that the family members of life assured are secured financially and are able to live their lives comfortably without any hassles.Since it is a pure term insurance policy you will not get a payout when you outlive the policy term.

It offers a high life cover at a low premium, making it an attractive option for individuals who are looking for comprehensive life insurance coverage.

So, choosing the best term insurance plan for 1 crore helps you secure your family’s financial future against the rising living cost in case of your demise. Read on to know more about why you should buy 1 crore term life insurance.

List of Best Term Insurance Plan For 1 Crore in India 2026

Buy Rs 1 cr. term plan at just ₹14/day. Below is the list of the best term insurance plan for 1 crore 2026.

Note: You can calculate the 1 crore term insurance premium amount from Term Insurance 1 Crore Calculator as per your requirements and life goals and LIC term insurance plan 1 crore premium calculator can also be used to calculate the premiums of LIC Term insurance 1 crore plans. In the same way, SBI term insurance 1 crore calculator can be used to compute premiums of SBI term insurance 1 crore plans.

Disclaimer: *The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Why Buy the Best Term Insurance Plan for ₹1 Crore?

Let us look at the various benefits of buying the best term insurance plan in India for 1 crore:

Here's why it's becoming increasingly important:

High Cover at Affordable Premiums

You can get life coverage of 1 crore term insurance for as low as Rs. 409/month. The premium of 1 Cr term insurance plans remains the same throughout the policy term, ensuring you do not have to worry about sudden financial stress.

Steady Premiums: 1 Cr term insurance plans have consistent premium rates throughout the policy tenure. Once you purchase the term plan, the premium rates remain unchanged for the entire policy term.

Family’s Financial Security

This high amount of life cover helps you protect your family members in case of your absence. The high life cover received from your 1 crore term insurance plan helps your family fulfil any financial goals they may have or any financial emergencies that may arise.

Replaces Income: This 1 crore term insurance plan works as an income replacement. It is a smart choice to replace your income in case of your absence. It provides the option to receive the payout as regular income, lump sum, or a combination of both. It also helps manage household expenditures.

Plan Finances for Investments

With the best term insurance plan for 1 crore, you can get long term coverage at affordable premiums that remain constant throughout the policy term. Thus, if you have purchased a 1 cr term insurance at Rs. 700 payable monthly to cover you till 60 years of age. You can easily pay the small amount as a premium for the entire policy term and invest the rest of your savings into investment products for wealth creation.

Pay off Existing Loans/Debts

By obtaining a Rs. 1 Crore term plan, you provide a financial net for your family in the unfortunate event of your death. In such cases, the payout from the policy can be used to settle any outstanding debts, ensuring that your family members inherit a legacy without financial difficulties. You can also use a home loan insurance calculator to check the premiums you would need to pay for your home loan insurance.

Premium Payment Options

• Single payment - You can pay the premium in a single payment during the inception of the policy.

• Limited premium payment - You can pay the premium for a limited policy term while ensuring to get the benefits throughout the policy term.

• Regular premium payment - You can pay the premium amount on a regular basis throughout the policy term.

You can easily determine a preferred frequency of premium payment for the limited and regular payment methods, like monthly, quarterly, semi-yearly, or yearly.

How Does 1 Crore Term Insurance Work?

1 crore term insurance works on the basis of a simple principle of offering a sufficient financial security to your family members for affordable and regular premiums.

Let’s understand how a 1 cr term insurance plan work, with the help of an example:

If Pranav purchased a term insurance plan with a life cover of Rs. 1 crore at 30 years of age. He chose a policy term of 25 years and made his spouse the nominee. After around 5 years, Pranav dies in an unforeseen accident. His spouse received the full sum assured amount of 1 Crore from the insurer. This payment can help her wife to be financially independent in future.

Why Do You Need a Term Insurance Plan for 1 Crore?

Considering rising living costs, inflation, and increasing financial responsibilities, many people first understand what is term insurance before choosing the right coverage. Once you understand how it works, a higher cover like 1 crore becomes essential. It helps your family manage expenses, repay debts, and meet long-term goals in your absence. A term insurance calculator can also help you estimate the premium and plan better.

Securing Your Family’s Future Lifestyle

Given rising costs and inflation, a 1 crore term insurance plan helps your family maintain their lifestyle for some time if you are not around. It is especially useful for individuals with dependents and long-term financial commitments.

• Income Replacement: A 1 crore term insurance plan can replace your income in your absence. The payout can be taken as a lump sum, regular income, or both, helping your family manage daily expenses smoothly.

• Adjust for inflation: Inflation reduces the value of money over time, making future expenses higher. A 1 crore cover ensures your family can cope with rising costs and continue their lifestyle without financial strain.

Covering Major Financial Liabilities

If you have ongoing loans such as home, car, or personal loans, a 1 crore term insurance payout helps your family repay them easily. This ensures they are not burdened with financial liabilities in your absence.

• Home Loan: Home loans are long-term commitments with regular EMIs. In your absence, the burden can fall on your family. A 1 crore term insurance plan helps them repay the loan without financial stress.

• Car Loan: Car loan EMIs can be difficult to manage without a steady income. The payout from a 1 crore term plan helps your family clear the remaining dues easily.

• Other Debts: High-interest loans like personal loans or credit card dues can create financial pressure. A 1 crore term insurance plan ensures these debts are settled without affecting your family’s stability.

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Funding Children's Future Goals

A 1 crore term insurance policy helps secure your children’s future despite rising costs. The payout ensures their important life goals are not disrupted in your absence.

• Education: Education costs are increasing steadily. A 1 crore cover helps your family fund school, college, and higher education without financial difficulty.

• Marriage: Marriage is an important milestone that involves significant expenses. A 1 crore term insurance plan ensures your family can manage these costs without compromise.

Tax benefits

• Premium paid: Premiums paid for term insurance are eligible for tax deductions under Section 80C, up to Rs. 1.5 lakh.

• Death benefit: The payout received by your family is generally tax-free under Section 10(10D), as per applicable tax rules.

• Premiums paid for health related riders: Premiums paid for riders such as critical illness riders may also qualify for tax deductions under Section 80D.

Affordability and high coverage

Term insurance plans offer high life cover at affordable premiums since they provide pure risk protection. A 1 crore term insurance plan is a cost-effective way to secure your family’s future.

Customisation available with riders

You can enhance your 1 crore term insurance plan with add-on riders for broader protection.

• Critical illness rider: Provides a lump sum payout on diagnosis of a listed critical illness.

• Accidental death benefit rider: Offers an additional payout in case of death due to an accident.

• Waiver of premium rider: Waives future premiums if you become critically ill or disabled, while the policy remains active.

What are the Features and Benefits of the Best Term Insurance Plan for 1 Crore?

Here are the top features and benefits of the best term insurance plan for ₹1crore:

Pure Risk Coverage

A 1 crore term insurance plan offers pure life cover, making it one of the most practical ways to financially protect your family at an affordable cost.

High life coverage: A high sum assured of Rs. 1 crore creates a strong financial safety net for your family in case of your untimely demise. It helps them manage immediate and future expenses without financial disruption.

Affordable premiums: Since term insurance offers pure risk coverage, premiums are usually affordable compared to other life insurance products. This makes it easier to secure a high cover of 1 crore without putting pressure on your monthly budget.

Fixed premium: Once you buy a 1 crore term insurance plan, the premium generally remains fixed throughout the premium payment term. This helps in better long-term financial planning.

Assured Death Benefit

The assured death benefit ensures your family receives the promised sum assured when they need it the most.

Income replacement: In case of your demise, the 1 crore payout can replace your income and help your family continue their lifestyle. It can support routine costs like groceries, utility bills, rent, and your child’s school fees.

Meet future financial goals: The lump sum amount of 1 crore ensures that your loved ones do not have to compromise on future milestones in your absence, such as:

• Child’s education

• Buying a house

• Child’s marriage

• Retirement planning for spouse

Repayment of debts: The payout of 1 crore can help your family clear outstanding liabilities such as home loans, car loans, education loans, or personal debts, helping you leave behind a debt-free legacy.

Peace of mind: Knowing that your family has a strong financial safety net in your absence gives you confidence and peace of mind during your working years.

Tax savings as per the Income Tax Act

A 1 crore term insurance plan also offers useful tax-saving benefits along with life cover.

Under section 80C: Premiums paid for a ₹1 crore term insurance policy are eligible for tax deductions under Section 80C of the Income Tax Act, 1961, up to applicable limits.

Under section 10(10D): The death benefit payout received by your nominee is generally tax-free under Section 10(10D), subject to prevailing tax rules.

Under section 80D: Premiums paid for health-related riders, such as critical illness riders, may also qualify for tax deductions under Section 80D.

Flexibility

A 1 crore term insurance plan gives you the flexibility to align the policy with your life stage and family needs.

Policy term: You can choose the desired policy tenure based on how long your dependents need financial protection. Depending on the insurer, coverage can extend from a few years up to whole life.

Pay out option: Term plans allow you to choose how your nominee receives the 1 crore sum assured, as a lump sum, regular income, or a combination of both, based on their financial needs.

Premium payment options: You can choose a payment frequency that suits your cash flow, such as monthly, quarterly, half-yearly, yearly, limited pay, or one-time premium.

Rider as add-ons

Riders help enhance the protection offered by your base 1 crore term insurance plan.

Critical illness rider: This rider offers an upfront payout on diagnosis of a listed critical illness, helping cover treatment and recovery expenses.

Accidental death benefit rider: In case of death due to an accident, your nominee receives an additional payout over the 1 crore base cover.

Waiver of premium rider: If you become disabled or critically ill, all future premiums are waived while the policy benefits continue.

Wellness rider: This rider can offer broader protection against death, terminal illness, and disability, depending on the insurer.

Term return of premium (TROP) rider: If you want your paid premiums back on surviving the policy term, you can choose the return of premium option along with your 1 crore term insurance plan.

Who Should Buy 1 Crore Term Insurance?

A 1 crore term insurance plan is a common choice among individuals who have financial dependents or have large liabilities. Since Rs. 1 crore is sufficient sum assured thus it is a good decision for most people who are looking to secure their financial future. This table shows who should consider buying a term insurance plan for 1 cr term insurance in India 2026 online:

Young professionals

Helps secure the financial future of your family from an early phase in your career, and helps to achieve their requirements in your absence.

Newly married couple and parents with kids

Ensures your spouse and children are financially protected in case of your unforeseen demise.

People with debts/loans

Prevents outstanding liabilities from becoming a burden on your dear ones.

People with home loan insurance

Helps your family manage or close large housing loans and continue living in the same home without financial strain

Sole earner of family

Helps manage household expenses, daily needs, and future milestones are supported even if the primary income stops.

Entrepreneurs & Business Owner

Can assist in settling business-related liabilities and maintaining financial balance for dependents.

Self-Employed Professionals

Acts as an income replacement , providing stability despite irregular earnings.

Investors

Secures long-term financial plans by providing funds to sustain investments or planned goals.

Individuals Supporting Senior citizens

Offers a financial cushion to parents who rely on your earnings for their living expenses.

Those nearing retirement

Provides interim protection for dependents until they achieve financial independence

Senior Citizens

Certain long-term plans can help ensure a spouse’s financial comfort in later years.

Housewife

Recognises the economic value of unpaid household contributions by covering childcare and household costs if needed.

Working women

Helps maintain family lifestyle and future aspirations by replacing lost income.

Taxpayers

Along with protection benefits, premiums may qualify for tax deductions under Sections 80C and 10(10D), subject to prevailing tax laws.

What is the Maximum and Minimum Age to Buy Rs 1 crore Term Insurance Plan?

• Minimum Entry Age
  minimum entry age to buy Rs. 1 Crore term insurance plan is 18 years as this age is the legal age to get into most of the insurance plans.

• Maximum Entry Age
  The insurers offer term life insurance plans up to the age of 60-65 years for a Rs. 1 crore term insurance cover. But insurance companies also offer special plans to individuals of age 70 years or more.

• Premium Impact
  Age can affect your premiums. Buying a 1 Crore term insurance at an early stage, i.e., in your 20s or 30s can provide lower premiums than individuals of a more advanced age due to lower perceived health risks.

Sum Assured Options for Term Insurance Plans

One of the main factors in selecting the term life insurance plan for the financial protection of your family is deciding on the right sum assured option. Below are the options available for sum assured amounts that are for you:

Why Buy Policybazaar Term Insurance 1 Crore Plan?

• Get High Coverage at a Low Premium

• Family’s Security From Loans and Debts

• Get up to 15% online discount

• Whole Life Cover till 99/100 years

• Get Tax Benefits Up To Rs. 46,800

What are the Factors to Consider Before Buying the Best Term Insurance Plan for 1 Crore?

Finding the best term insurance plan for 1 crore is an important task, as various insurers offer plans at a competitive rate. However, if you have already decided to buy a 1 Cr term plan to protect your family in your absence financially, here are some of the important parameters you should consider when buying a suitable 1 Cr term insurance plan.

Coverage amount

Your cover should be enough to replace income, clear liabilities, and support future goals.

Human Life Value: Use HLV calculator as a thumb rule and aim for 10 to 15 times your annual income.

Outstanding loans: Add all loans and debts so your family can repay them without stress.

Current and future expenses: Include daily expenses along with future needs like healthcare and education.

Future goals: Factor in milestones like your child’s education, marriage, and spouse’s retirement.

Policy Term

The policy term should last as long as your family depends on your income.

Your dependent’s age: Choose a term till your dependents become financially independent.

Your retirement age: A common approach is to align the term with your retirement age.

Long-term liabilities: Ensure the term also covers long-term loans like home loans.

Purchase and Premium Payments

Pick a payment option that is comfortable and sustainable.

Premiums should be affordable: The premium should fit your budget easily.

Premium paying term: Choose from regular, limited, or single pay options with flexible frequencies.

Buy online or offline?: Online offers convenience, while offline gives advisor support.

How to Choose the Insurer ? 

Claim Settlement Ratio (CSR): CSR represents the total number of claims the insurer settled in a year to the total number of claims received within the same year. A CSR above 95% indicates that the insurance company has settled most of the claims received annually and is a reliable insurer from where you can buy term plans. Therefore, you should choose an insurer with a high CSR to ensure that your nominees/beneficiaries receive the claim amount on time.

Solvency Ratio: Always check for insurers with a high solvency ratio. A high solvency ratio means the insurer's financial ability to pay out claims. Policy buyers should do thorough research about the insurer’s financial status to confirm whether they have the capability to settle the claims.

Reputation: The brand reputation plays an important role in deciding the insurance provider. Always ensure that the insurer has been established for a sufficient time and has a large base of customers. For example, Policybazaar has secured 15 lakh+ families till now. 

Which feature do you need? 

Riders: Riders are the add-on benefits that can be added to the base plan to enhance the coverage of the existing term plan. There are different types of riders, such as waiver of premium, critical illness, accidental total and permanent disability, accidental death, hospicare rider, etc. Go through the list of available riders and their benefits to make the most of your 1 crore term insurance plan.

Medical test requirements: Read and go through the insurance company’s policy about medical examinations. Some term plans may require a medical check-up based on age and life cover amount. Be informed about any important health tests.

Exclusions

Read plan documents carefully to understand all the life insurance exclusions. These are the situations where the plan will not provide any payout. Make sure that you are aware of these implications.

What is the Right Age to Buy The Best Term Insurance Plan for 1 Crore?

This is a quite concerning question among the buyers of term insurance. It is often suggested that you buy a 1 crore term insurance as soon as possible so that you can get it at lower premiums. Term insurance premiums increase with your age. Let us take a look at the monthly premium and how it changes for a 1 crore term plan for different age groups:

Premiums for Different Age Groups

Here’s your data converted into a clear table format:

How to Choose the Best Term Insurance Plan for 1 Crore?

Choosing the best term insurance plan for 1 crore is important to secure your family’s financial future. Here is how you can choose the most suitable 1 cr term insurance online:

Assess your financial needs and requirements:

You need to take your age at the time of buying 1 crore term insurance into account, and your existing annual income. This is because age affects your premium rates and eligibility for certain life cover amounts. Not only that, your annual income may also restrict the sum assured you are eligible to buy the best term insurance plan for 1 crore.

Calculate premiums for 1 Crore term insurance:

Unless the premium amount fits into your budget, you will not be able to buy 1 cr term plan or pay the price on a regular basis. Thus, it is recommended to buy term insurance policy with an affordable premium according to your income.

Keep inflation rates and cost of living in mind:

A term plan, once bought, will cover you for decades. During this period, the inflation rates and cost of living are bound to increase. Thus, you should always keep these in mind and look for a 1 crore term insurance plan that will sufficiently cover your family’s needs even after a few years.

Other Benefits:

Apart from providing life coverage, insurance companies offer various features with their term plans like:

• Add-ons or riders to increase the base coverage

• Option to increase the coverage with changing life stages

• Accelerated payouts in case of terminal illnesses

Compare 1 crore term insurance plans online:

You should always compare the available term plans from different insurers online on the basis of their premium rates, CSR values, benefits offered, riders, and policy terms to find the most suitable term plan.

When Should I Buy the 1 Crore Term Insurance Plan?

Deciding the right time to buy a ₹1 crore term insurance plan is just as important as choosing the coverage amount. While many people delay the decision, the timing can majorly affect both your premium and long-term financial security.

When You Start Earning Regularly:

The ideal time to consider a 1 crore term insurance plan is when you begin earning a steady income. Once someone depends on your income, even partially, protection becomes important. Buying early also helps lock in a lower premium for the entire policy term.

Pay off any Remaining Loans:

If you’ve taken a home loan, personal loan, or any large financial commitment, it’s a strong signal that you need adequate life cover. A ₹1 crore term insurance plan can help ensure that your family is not burdened with repayment obligations in your absence.

When You Get Married:

Marriage changes financial priorities. Even if both partners are earning, having sufficient life cover provides stability and peace of mind. In such cases, the best term insurance for 1 crore plan ensures your spouse remains financially secure if something unexpected happens.

After Becoming a Parent:

Parenthood brings long-term responsibilities like education, healthcare, and daily expenses. The best term insurance for 1 Crore can act as income replacement and help maintain your child’s future plans without disruption.

While You Are Young and Healthy:

Premiums are largely based on age and health. The younger and healthier you are, the lower your premium is likely to be. Waiting can mean higher costs or stricter underwriting later. Buying early is often the most cost-effective decision.

How To Buy 1 Crore Term Insurance Plan from Policybazaar?

Below mentioned is the step-by-step guide to buy the best term insurance plan for 1 crore term plan from Policybazaar:

• Visit Policybazaar and go to the Term Insurance page

• Fill in the basic details such as name, Date of Birth, and contact number and click on ‘View Plans’

• Answer the questions about smoking habits, annual income, occupation type, and educational qualification

• After submitting all the details, a list of all available 1 Crore term insurance plans will be displayed

• Choose the best term insurance plan for 1 Crore that suits your financial needs and proceed to pay the first premium

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