Prices Increasing soon Prices Increasing Soon

Max Life Insurance 5 Crore Term Insurance 

Financial planning and monetary security are essential, especially for your family members. But if you don’t know where to start this, it might be the time to consider buying a 5 crore term insurance. Max Life Insurance offers 5 crore term insurance at affordable premium rates. So, let’s discuss to learn more in detail: 

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What is a Max Life Insurance 5 Crore Term Insurance Plan? 

A 5 crore Max Life Insurance Term Plan is specifically designed to provide financial support to the loved ones of a policyholder in case of the policyholder’s unfortunate death. So, a 5 crore term plan offered by Max Life Insurance provides a sum assured (life cover) of Rs. 5 Crores, called a death benefit. 

Note: Know what is term plan first and then buy a term plan for your loved ones.

How Does Max Life Insurance 5 Crore Term Insurance Works? 

Let’s see how this life insurance plan works: 

If you buy 5 cr term insurance for your family members, the appointed nominee/beneficiary will get a death benefit of Rs. 5 Crores in case of an unforeseen death. So, by availing of this term plan, your dear ones will have a financial safety net to give you support. The plan offers high coverage at affordable rates, making it a reliable choice for policy buyers. 

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Buy Max Insurance 5 Crore Term Insurance? 

  • High cover at low premium rates: Most individuals think that 5 crore term insurance is not very pocket-friendly, but that is not the case. You can get all the benefits of this plan at a premium as low as Rs. 2496 when you start at an early age. 

  • Enhanced Coverage Benefits: A 5 crore term insurance comes with additional coverage benefits such as terminal illness, accidental death benefit, and waiver of premium rider. 

  • Financial Support: These plans ensure that your family's financial needs are taken care of even when you are not around. Also, the death benefit can be used to pay off loans, debts, and liabilities or use the payout for household expenditures. 

How to Determine the Right Coverage Amount? 

Here is a list of some factors that can help determine if buying a 5 crore term plan is the right choice: 

  • Your Annual Income: The general thumb rule for purchasing term plan is that the sum assured should be at least 10X of your annual income. For example, if your annual income is Rs. 50 Lakhs, then your term plan should be at least Rs. 5 Crores. So, you can use Policybazaar’s term policy calculator.

  • Current age: Age plays an important role in determining the right amount of coverage for term plans. Old individuals are more likely to get sick and develop health problems, and because of this, they have to pay higher premiums. Thus, buying the best 5 crore term insurance plan at a young age is advisable to get good coverage at low premium rates. Also, it ensures that your loved ones stay financially secure for longer.

  • Financial Dependents and Their Needs: Assessing the financial well-being of your dependents is crucial when determining whether a 5 crore term insurance policy is adequate. Consider how many family members rely on you for financial support and factor in their future needs like education, marriage, loans, etc. So, it is important to ensure that the financial needs of all your dependents, particularly those dependent financially on you, are adequately addressed.

  • Pay off Loans/Liabilities: When choosing a term insurance policy, it's important to consider any outstanding loans and financial obligations. Whether it's a home loan, car loan, education loan, or other debts that need repayment, these should be considered when opting for a 5 crore term insurance policy. Consequently, choosing a 5 crore term insurance policy is a good option as it offers a high sum assured amount compared to other term plans. 

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Benefits of Max Life Insurance 5 Crore Term Insurance 

  • Cost-Effectiveness: The premium rate of 5 crore term insurance is affordable, and if you buy the plan at a younger age, you can get this plan at low premiums. 

  • Tax Benefits: One important benefit of buying the best term insurance plan for 5 Crores is tax exemption as per section 80C and 10(10D) of the ITA, 1961. 

  • Availability of Additional Benefits (Add-ons): A 5 crore term insurance plan offers comprehensive financial coverage with additional benefits of add-on cover. For example, you can opt for term riders such as waiver of premium, critical illness rider, and accidental death rider. While buying these term riders is not compulsory, you can increase your coverage when required. 

  • Online Availability: You can easily buy a Max Life Insurance 5 Crore Term Insurance online without visiting the insurer's office or standing in long lines. With Policybazaar, you can get a 10% discount on buying plans online. 

  • Flexible Payout Options: While most insurance companies typically offer the death benefit of term insurance plans in a lump sum, you can explore alternative payout methods. For example, you may opt for a combination of a lump sum and monthly income payout, providing better control over managing your expenses. Similarly, selecting a monthly income payout alone can be a reliable source of income replacement for your family.

Who Should Opt for Max Life Insurance 5 Crore Term Insurance?

  • Young individuals 

  • Sole earning member 

  • People with Debts 

  • Self-employed/Business Owners 

  • Parents with children 

  • Newly Married

How do you buy Max Life Insurance 5 Crore Term Insurance from Policybazaar?

Step 1: Visit Policybazaar and go to the Term Insurance 

Step 2: Fill in the basic details such as Name, Date of Birth, and contact number and then click on ‘View Plans’. 

Step 3: Answer the questions about Smoking habits, annual income, type of occupation, and educational qualification. 

Step 4: After submitting all the information, a list of all available 5 crore term insurance plans will be displayed. 

Step 5: Choose the plan that suits your financial needs and proceed to pay. 

Note: Check out the best term life insurance in India and choose one that suits your requirements.

Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.


Premium By Age



Term insurance Articles

  • Recent Article
  • Popular Articles
02 Jul 2024

Term Life Insurance in Daman and Diu 2024

Daman and Diu, a union territory in western India, consists of

Read more
02 Jul 2024

Term Life Insurance in Andhra Pradesh 2024

Andhra Pradesh, a state in the southern coastal region of India

Read more
02 Jul 2024

Term Life Insurance in Sikkim 2024

Sikkim is a Northeastern Indian state bordered by Bhutan, Tibet

Read more
02 Jul 2024

Term Life Insurance in Punjab 2024

Punjab, also known as the Land of Five Rivers, is situated in

Read more
02 Jul 2024

Term Life Insurance in Chhattisgarh 2024

Chhattisgarh is a state known for its forests, majestic

Read more

'Har Family Hogi Insured' Policybazaar's Vision...

Empowering Every Household: policybazaar's Commitment to Nationwide Coverage In a visionary move towards a

Read more

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more

2 Crore Term Insurance Plan

Individuals can choose to buy term plan that offers a life cover (sum assured) of ₹ 2 crore. These plans are

Read more

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more
Current Version
Jun 14, 2024
Written By
Rhishabh Garg
Reviewed By
Santosh Agrawal
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL