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List of 5 Top 1 Crore Term Insurance Plans in India for 2021

Term insurance plans provide several benefits to policyholders allowing them to lead a trouble-free life. On the other hand, customers should know more about the types of plans offered by insurers in detail. This is because buying the right kind of term insurance policy gives comprehensive coverage against various events. For example, policy buyers should consider purchasing a plan with a high sum insured amount because it provides more benefits. Another thing is that it allows policyholders to secure their families from debts, loans, and liabilities.

While purchasing a term insurance policy, customers should keep certain things in mind that will help make the right decision. Not only that, it allows them to select the right plan which caters to their needs and costs. In addition, since several insurance companies offer term plans in the markets, policy buyers should evaluate them with more attention. This, in turn, gives ways to focus more on their financial planning and other things, thereby helping to reduce unwanted problems to a large extent.

What is a 1 crore term insurance plan?

1 crore term life insurance plan is a policy that pays the same sum assured amount to a policyholder on his/her death. Moreover, the premium plans are affordable that give ways to satisfy the financial needs and goals of a policyholder’s family. It even allows policyholders to get more coverage for critical illnesses and other things.

Who can buy a 1 crore term insurance plan?

1 crore term insurance policy is suitable for large families with siblings, elder parents, spouses, and children. Anyone with a limited income but has huge financial commitments can choose this policy to meet essential needs. It is the right choice for those with several debts and liabilities that will help get high protection. Individuals who want to create good savings for their families can benefit a lot from this plan.

Knowing the best 1 crore term insurance plans in India 

 

1. ICICI Prudential iCare II Term Plan 

ICICI Prudential is one of the leading insurance companies in India that offers a Rs. 1 crore term plan with affordable premiums. The company provides the policy with various features to gain more advantages. ICICI Prudential iCare II term plan allows policy buyers to pay the premium amounts under regular pay and one pay options. It is the best term insurance for 1 crore, enabling policyholders to get wide coverage. The minimum and maximum age entry for one pay option are 18 years and 60 years. 

On the other hand, the minimum and maximum age entry for the regular pay option is 18 years and 65 years. The policy tenure for one payment option is from 5 to 10 years and 5 to 67 years for the regular pay option. Moreover, the policy offers the accidental death benefit equal to the sum assured amount. 

2. LIC Tech Term Plan

LIC Tech Term plan is another policy that offers coverage of Rs 1 crore with a minimum sum assured amount for Rs. 50 lakhs. It comes with different rider options allowing policy buyers to choose them based on their choices. Anyone who wants to purchase LIC 1 crore term insurance can select this plan that will help minimize the financial burden. Not only that, it lets customers take the death benefit in installments. The tenure of this policy is from 10 to 40 years and doesn’t provide any maturity benefit to policyholders. Those who are in the age between 18 to 65 years are eligible to apply for this plan. 

3. SBI life Insurance eShield Term Plan

SBI Is one of the leading insurance companies in India that offers a wide range of products for customers in the markets. The eShield term plan offered by the company comes with a coverage of Rs 1 crore. Furthermore, this SBI life term insurance 1 crore plan is available in two structure plans enabling policyholders to get maximum coverage. In the level cover benefit, the sum assured amount remains the same throughout the policy tenure. However, the sum assured amount will increase by 10% by the end of every 5th policy term.

The policy provides high protection for terminal illnesses along with the death benefit to overcome financial crunches. It offers two rider options for policy buyers, and they can pick any one of them based on their choices. The minimum and maximum age entry for this plan are 18 years and 65 years, with a duration of 10 to 40 years. 

4. Max Life Insurance Smart Term Plan

Max life insurance is a leading private insurance company in the markets that aims to cater to policy buyers’ needs with various features. The 1 crore term plan offered by the company is easily customizable and helps get protection against critical illnesses, death, and disability. Another thing about this policy is that it enables nominees to select from multiple death payout options in a lump sum or as increasing monthly income. Policyholders can get coverage up to 85 years under this plan to lead a trouble-free life. One of the best parts of this plan is that it allows policyholders to obtain the return of premium on surviving the policy term by addressing the exact needs. 

5. HDFC Life Click2 Protect Plus Plan

HDFC life Click2 Protect Plus Plan is a 1 crore term insurance plan that offers 4 plan options for policy buyers. They include life, extra life, income, and income plus, which reduces the financial burden. The policy term ranges from 10 to 40 years, thereby helping a policyholder to witness peace of mind unwanted problems. Customers can even add rider benefits while purchasing this plan.

How to buy 1 crore term insurance plans?

People who want to buy 1 crore insurance plans can compare the premium prices of various insurance companies online. This, in turn, gives ways to choose a plan at the best prices that will help save maximum money. To know more about 1 crore term plans, one can visit iiflinsurance.com.

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