1 Crore Term Insurance Plans

What is 1 Crore Term Insurance Plan? 

A 1 cr term insurance plan is a type of life insurance that offers a death benefit of Rs. 1 crore. Just like any other insurance plan, it is a purest and basic form of life insurance wherein you pay premiums on a regular basis for a fixed time period called as policy term. Since this plan is a term insurance plan for 1 crore, so nominee i.e., the chosen beneficiary will get Rs. 1 crore in case of an unforeseen demise during the policy term. This large amount helps in providing financial security for your loved ones in your absence. Because it is a pure risk cover, you will not receive a payout in case you outlive the policy term. Term life insurance is an affordable form of life insurance.

For example: A healthy 25 year old male non-smoker would have to pay Rs.532 per month for 40 years for 1 crore term insurance plan. This means you get 1 crore term insurance @17/day.

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 life insurance.

How Does 1 Crore Term Insurance Work?

If you are thinking how does a 1 crore term insurance plan work, let’s understand this with the help of an example:
Let’s say Rahul purchased a term insurance plan at 30 years of age with a sum assured of ₹1 crore. He selected a policy term of 40 years and made his spouse the nominee of the plan. Five years later, Rahul dies in a road accident. In such a case, the complete sum assured amount of Rs. 1 crore will be provided to his wife. This payment can help her to continue her life with financial security without her husband.

List of Best Term Insurance Plans For 1 Crore in India 2025

Buy Rs 1 cr. term plan at just ₹13/day. Below is the list of the best term insurance plan for 1 crore 2025. You can take a look at these 1 crore term insurance plans and select the one that you like:

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

What is the Need of Best Term Insurance Plan for 1 Crore?

1 crore term insurance is needed because it provides a substantial financial safety net for your family if something unfortunate happens to you. This payout can help them cover essential expenses, achieve their goals, and pay off their loans/debts, even without your income.

Let’s understand why 1 crore term insurance is becoming important nowadays:

• Securing the family’s future lifestyle: With the rising living costs and the increase in inflation rates, the 1 crore term insurance plan will provide help to your family in maintaining their desired lifestyle when you are not around. Buying this plan is a wise decision for individuals having long term debts and multiple dependents.

• Replaces Income: 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.

• Inflation: the purchasing power of your money over time. At the time of choosing the sum assured for your term insurance plan, it is important that you should consider how inflation will impact its actual value in the future. Buying a plan with adequate coverage, such as a ₹1 crore term plan, ensures your family can manage rising living costs and maintain their lifestyle.

• Covering Liabilities : In case you have unpaid loans such as home loans, car loans, education loans, etc, the Rs.1 cr term plan payout in case of your demise will help your dear ones pay the loans on time . You can also use a home loan insurance calculator to check the premiums you would need to pay for your home loan insurance.

• Children education funding: 1 crore term insurance plan protects your children’s future goals when you are not around, despite the rising living costs. The lump sum payment from the best term insurance plan for 1 crore in case of your unforeseen death will help your family members fund the college fees, higher studies, and school expenses.

• Marriage: Marriage of a child is the most important event and cherished milestone that needs to be celebrated without any financial problems. Opting for 1 crore term insurance plan helps ensure that even in your absence, your family has the financial means to fulfill this dream.

A 1 crore term insurance plan offers a simple and affordable way to ensure your family can face the future with confidence, no matter what challenges may arise. You can use the term insurance calculator to check the premiums for a 1 crore term insurance plan.

How to Determine the Ideal Life Cover?

Determining how much life coverage is needed is the first step when buying a term plan. This amount depends on the current living costs of your family, future dreams, and pending loans. However, before coming to a certain amount, it is important to consider inflation. The amount you pay today for daily necessities is likely to increase in the coming years. You can check how much life cover you need using our Human Value calculator. It can give you an estimate about the amount required to secure your family’s finances in case of your absence.

What are the Features and Benefits of Buying 1 Crore Term Insurance?

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

1. High Cover at Affordable Premiums

   You can get life coverage of 1 crore term insurance for as low as Rs. 400/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.

2. 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.

3. Pay off Existing 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.

4. 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. 

5. Benefit Payout Options

   • Lump sum payout: The life cover amount will be paid as a lump sum to your family members.

   • Regular income: The life cover amount will be paid as a regular income for a fixed income time.

   • Combination of regular and lump sum payout: The life cover amount will be provided as a mix of lump sum payout and regular income.

6. Comprehensive Cover with Riders

   The life cover amount of a term plan can be increased by adding optional riders that protect you against critical illnesses, accidental death and disability, major and minor illnesses, injuries and hospitalisation. These riders can be added to your one crore term plan for an additional premium.

7. Save on Yearly Taxes

   The 1 crore term insurance can help you save on your taxes as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act of 1961. It is suggested that you check with your financial advisor to see the applicable tax benefits for your profile.

Who Should Buy 1 Crore Term Insurance?

Here is a list of people who should consider buying term insurance plan for 1 crore in India online. Know what is term insurance first, and then buy a one crore term plan for your loved ones.

Sum Assured Options for Term Insurance Plans

Apart from the 1 crore term plans, some of the sum assured options are listed below, and you can select the one that suits your requirements. Further information on selecting the appropriate sum assured is also available as per the term insurance conditions in the policy documents.

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.

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 crore term insurance online for you family:

When Should I Buy the 1 Crore Term Insurance Plan?

Let us take a look at the monthly premium table and how it changes for a 1 crore term plan for different non-smoking individuals in different age groups:

How to Choose the Right Amount of Coverage for Term Insurance Plan?

Here is a list of points that one should consider when determining the right life cover type based on your financial portfolio:

Why Buy Policybazaar Term Insurance 1 Crore Plan?

1. Get High Coverage at a Low Premium

2. Family’s Security From Loans and Debts

3. Get up to 15% online discount

4. Whole Life Cover till 99/100 years

5. Get Tax Benefits Up To Rs. 46,800

*All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes as per the prevailing tax laws. Standard T&C apply.

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:

• Step 1: Visit Policybazaar and Go to the Term Insurance page

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

• Step 3: Answer the questions about smoking habits, annual income, occupation type, and educational qualification

• Step 4: After submitting all the details, a list of all available 1 Crore term insurance plans will be displayed

• Step 5: Choose the best term insurance plan for 1 Crore that suits your financial needs and proceed to pay the first premium

1 Crore Term Insurance Plan – FAQs