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Term Life Insurance Over 50,000

Term insurance is the pure protection life insurance plan that provides financial protection to your loved ones. With a term plan, you can receive a large amount of life cover called sum assured at a comparatively low premium rate. The benefit amount is then paid out to the nominee/beneficiary in case of the policyholder’s demise during the policy term. 

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The Indian insurance space has a number of ideal options for you with the flexibility to choose the payout and coverage options. Let us look at the term life insurance plans that offer coverage of 50,000.

Note: Know more about what is term insurance first before reading this article.

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Term Plans offering Life Cover of Rs. 50,000

Earlier, most term life insurance policies were available for a minimum life cover of Rs. 25 Lakhs. To opt for such a high cover, insurance companies generally require buyers to have a yearly income of Rs. 3 lakhs to 5 Lakhs. Therefore, a major population of India doesn’t qualify for term insurance plans. However, with the introduction of various plans offered by Bharti AXA, Exide, HDFC, etc. which allows a minimum life cover of Rs. 50,000, more companies are designing policies to offer term life insurance plans with low life cover.

List of Term Life Insurance Over 50,000 Plans

Term Insurance Plans Insurance companies Minimum Sum Assured (in Rs.) Maximum Sum Assured (in Rs.) Entry Age (in years) Maturity Age (in years) CSR
Bharti AXA Life POS Saral Jeevan Bima Bharti AXA Life Insurance 50,000 No Limit 18-55 years 65 years 99.05%
Bharti AXA Life Smart Jeevan Plan Bharti AXA Life Insurance 50,000 5 Lakhs 18-50 years 62 years 99.05%
Exide Life Term Rider Exide Life Insurance 50,000 Lower of 50 Lakhs or sum assured amount of base policy 18-60 years 70 years 98.54%
Max Life Smart Secure Plus Plan Max Life Insurance 50,000 (for accident cover option) No Limit 18-65 years 85 years 99.35%
SBI Life e-Shield Next SBI Life Insurance 50,000 for online buying through insurer’s website and web aggregator. No Limit 18-65 years 100 years 93.09%

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Key Features of Term Life Insurance Over 50,000 Plans

  1. Bharti AXA Life POS Saral Jeevan Bima

    It is a non-participating and non-linked term insurance plan which is specifically designed to offer life cover in case of death during the policy tenure.

    Key features of Bharti AXA Life POS Saral Jeevan Bima

    • Sum assured is doubled on death due to accident: The plan provides the sum assured on demise in form of lump sum on the policyholder’s death and doubles the SA on the demise in case of death because of an accident.

    • Flexibility to select policy term: Policyholder gets the flexibility to select from 4 policy terms i.e., 10,15, 20, and 25 years.

    • No medical test: The plan requires no medical examination of the policyholder

    • Tax Benefits: Get tax savings benefit on the premium amount paid and payouts received as per the prevailing laws of the Income Tax Act, 1961.

  2. Bharti AXA Life Smart Jeevan Plan

    This plan offers protection to the loved ones for 12 years at a minimal premium rate, if in case of any unfortunate event. At the completion of the policy term, you would get 100 percent of the premium amount you had invested.

    Key features of Bharti AXA Smart Jeevan Plan

    • The plan offers good cover at low premium rates

    • The plan provides 100 percent return of premium paid till completion of policy term as maturity payout

    • Life insurance coverage to make sure that policyholder is adequately secured and protected

    • Easy process of purchasing the plan as no lengthy processes are included.

  3. Exide Life Term Rider

    To secure your family members from life uncertainties, Exide Life Insurance company Ltd., formerly called ING Vysya Life Insurance Company, offers you an option to add an add-on or additional protection at a low cost. It makes sure that your family is always safe and has an easy lifestyle.

    Key features of Exide Life Term Rider

    • Additional life cover benefits at a low cost

    • Death because of natural, accidental, and any other risk covered

    • In case of any unforeseen event of demise, a lump sum amount equivalent to rider SA on death is paid and the cover of rider ceases.

    • The plan provides pure protection benefit and does not offer any surrender or maturity benefit

  4. Max Life Smart Secure Plus

    It is a non-linked, non-participating life insurance plan that offers unique advantages such as death benefits and other inbuilt benefits that involve terminal illness cover and a special exit value. It is an extended protection plan that is personalized as per the preferences of customers.

    Key Features of Max Life Smart Secure Plus Plan

    • Death Benefit: If the policyholder dies during the policy tenure, provided the policy is active, in such cases, the company will pay the guaranteed death payout to the nominee.
      Premium Payment: Option to pay the premium amount as per your requirements

    • Premium Break: Policyholders can opt for the premium break option where he/she is eligible to take a premium holiday or break from paying the premium amount once the plan has completed 10 years of the policy term.

    • Return of Premium: 100% of the total premiums are payable with the return of premium option if in case you survived the policy term.

    • Special Exit Value: It gives the policyholder, a 1-time option to leave the plan along with an existing benefit of premium return during the time when the option is exercised for the life coverage.

    • Sum Assured Top-up: It provides an option to increase the SA at an advanced phase of the policy tenure.

    Note: You can easily calculate the term plan premium by using the term insurance calculator online tool.

  5. SBI Life e-Shield Next

    SBI Life e-shield Next is a new age protection plan which has been specifically designed to meet your requirements and also takes care of your changing responsibilities. It is a right solution to provide financial security and protect your family in today’s world.

    Key Features of SBI Life e-Shield Next

    • The plan offers a choice of three plan options such as level cover, level cover with future-proofing, and increasing cover

    • Personalize the plan to meet your needs through

    • Better half benefit option

    • Death benefit mode of payment

    • Additional life coverage using 2 options of rider

    • Pay premium amount as per your needs i.e., one time, for a limited time, or a full policy term

    • Terminal illness benefit is also available under all plan options

Wrapping It Up!

Due to the term insurance’s easy accessibility, low premium rates and large life cover, a term life insurance over 50,000 plan is the smart way to protect your loved ones against unfortunate events in the future. The premium rates for these plans are low and can be accessed both offline and online.

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

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