Financial security and planning are one of the most important priorities, especially when it comes to your family members. To start with, it might be the right time to consider buying a 10 crore term insurance plan. Read on to know more:Read more
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The below table illustrates the best 10 Crore term insurance plans. Look at these plans carefully and choose the one that suits you the best:
|10 Crore Term Insurance Plans||Age at Entry||Age at Maturity||Policy Term||Sum Assured (in Lacs)|
|Bharti AXA Flexi Term Insurance Plan||18 years to 65 years||85 years||Min: 5/10/15/20 years to age: 60 and 75 years Max: Same as Policy Term||Min: 10 Lakhs Max: 25 Lakhs|
|ICICI Pru iProtect Smart||18 years to 65 years||75 years||5 to 40 years||Min: Subject to minimum premium Max: No Limit|
|Aditya Birla Capital Life Shield Plan||18 years to 65 years||85 years||10 to 55 years||Min: 25 Lakhs Max: No Limit|
|SBI Life e-Shield Plan||18 years to 65 years||100 years||5 years to (100 less entry age) in years||Min: 50 Lakhs Max: No Limit|
|HDFC Life Click 2 Protect Plus Life||18 years to 65 years||85 years||5 years to (85 years less entry age)||Min: 25 Lakhs Max: No Limit|
You can calculate the 10 crore term insurance premium rates using term insurance calculator.
Here is a list of individuals who can opt for a 10 Crore life insurance policy to secure their family’s financial conditions in their absence.
Term insurance plans are suitable for individuals who are in their late 20s or early 30s. The reason behind this is that the 10 Crore term insurance premium rates are economical for people who are healthy and young.
The 10 Crore term insurance plans are suitable for those who have a large family with a wife, children, parents, etc.
A 10 Crore life insurance policy is also suitable for those who want to build large amounts of saving for their loved ones in case of the breadwinner’s absence.
Term insurance 10 Crore plans are suitable for those who have large financial commitments.
Here are 5 reasons to buy a 10 crore term insurance plan:
One of the main benefits of buying a 10 Crore term insurance plan is large coverage at low premium rates. You can opt for a plan with 10 crore term insurance premium rates as low as Rs. 4300 when you start at an early age.
A 10 crore life insurance policy comes with additional coverage advantages such as add-on coverage. For example, you can increase the coverage of plans by availing of a terminal illness rider, waiver of premium rider, and accidental death benefit.
Buying term insurance for 10 crores will make sure that the financial needs of your family are taken care of even in your absence. Also, the death benefit can be used to pay off liabilities, and loans, or can use the amount for household expenses.
If you buy a 10 Crore life insurance policy, it will provide you with long-term life cover at low premium rates.
Get tax savings benefits on the 10 Crore term insurance premium up to Rs. 1.5 Lacs which is deductible u/s 80C of the ITA, 1961.
Here is a step-to-step guide for buying a 10 Crore term insurance from Policybazaar:
Step 1: Visit the 10 Crore Term insurance form
Step 2: Fill in all the required details like name, age, and contact details, and then click on the tab ‘View Plans’
Step 3: Answer few questions related to chewing or smoking habits, occupation type, annual income, language and education.
Step 4: After the submission of all the relevant information, a list of all available 10 crore term plans will be displayed on the screen.
Step 5: Select the plan that suits your financial requirements and then proceed to ‘Buy’ the plan
There are a number of insurance companies that offer 10 Crore life insurance policy at competitive rates. However, if you have already finalized a 10 Cr term plan to protect your family members financially in case of your absence, below are some of the important factors that you should look into at the time of purchasing a 10 Crore term insurance plan.
Option to increase coverage without purchasing a new term plan
Default coverage for critical ailments such as heart stroke, cancer, etc.
Option to pay the amount of benefit as regular income after filing a claim
Option to offer an increasing regular income after filing the claim
Additional benefits for disability and accidental death
You can buy a term insurance 10 Crore online by submitting the following documents at the time of policy purchase:
Age and Photo Identity Proof (Voter ID, Driving License, PAN card, Aadhar Card, etc)
Address Proof (Voter ID, Aadhar Card, etc)
Income Proof (salary slips, IT return, employer’s certificate, or Form 16)
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