Best 1 Crore Online Term Insurance Plans in India 2021
Akshay (32-years-old) lives in Indore with his wife, Sapna (27-years-old), and a daughter (3-years-old). Six years ago, Akshay purchased a term policy of Rs. 20 lakh at the time when he was a bachelor. At that time, Akshay didn’t have many responsibilities, and thus, a term policy of Rs. 20 lakh was sufficient for his requirements and needs. But, now Akshay has become a family person whose life comes with many responsibilities, including his wife and daughter. Moreover, he took out a home loan just 1 year ago. With these ever-increasing responsibilities, Akshay is now thinking that Rs. 20 lakh term insurance is inadequate for his existing requirements and financial responsibilities. Moreover, medical inflation and healthcare expenditures have become nightmares for everyone. So, people like Akshay need a higher-term insurance plan that will cater to all their present requirements.
The prime aim of purchasing a term insurance plan is to ensure the life goals are not wrecked. There should be sufficient money so that the remaining family members can fulfill their aims in the case of the untimely death of the sole bread earner. And purchasing a 1 Crore term insurance plan, you can secure and protect your family’s financial future in an utmost way.
What is a 1 Crore term plan?
A 1 cr term plan is a policy that offers a sum assured of 1 crore to the nominee after the death of the insured policyholder during the tenure period. A 1 crore term insurance plan acts as a protector and offers financial assistance to the remaining family members so that they can accomplish all their goals.
Along with financial support to the family, a term insurance plan also acts as an income replacement for the dependent family members. This is quite beneficial for a family where the insured policyholder dies due to any untoward incident. Moreover, with the best term insurance plan for 1 crore, your loved ones can fulfill their life goals, including the repayment of your outstanding debts like home loans, payment of your credit card bills, child’s higher education, marriage, and other expenditures.
Nowadays, many insurance companies are offering their policyholders a 1 crore term insurance plan. So, let’s take a look at the best 1 crore online term plans in India.
1 Crore Term Insurance Plans in 2021 by Best Insurance Companies in India
|Insurance Companies Name||1 Crore Plan Name|
|ICICI Prudential Life Insurance||iProtect Smart plan|
|HDFC Life Insurance||Click2Protect Life|
|Max Life Insurance||Smart Secure Plus|
|Aditya Birla Capital||DigiShield Plan|
|Tata AIA Life Insurance||Sampoorna Raksha Supreme|
|Bajaj Allianz Life Insurance||Smart Protect Goal|
|PNB MetLife India Insurance||Mera Term plan plus|
|Canara HSBC Life insurance||iSelect Star|
|Kotak Life insurance||e-term plan|
|Exide Life Insurance||Elite term plan|
|Bharti Axa Life Insurance||Premier protect|
|Aegon Life Insurance||iTerm plan|
|SBI Life Insurance||e-shield Next|
|Future Generali India||Flexi Online term plan|
Who should opt for the best 1 crore term plan?
The experts recommend purchasing a term plan cover that is 10-15 times your annual income. The term insurance 1 crore cover plans are the most affordable in today’s scenario. Term insurance 1 crore premium calculator will help you to know your 1 crore term insurance premium amount. This 1 cr term insurance plan is ideal for
- Those who have many dependents, including parents, spouse, and children
- Those who have large financial responsibilities
- Those who have many debts and can increase the financial burden of the family in case of their untimely death
- Those who want adequate savings for their family members
Is 1 crore Term Insurance Policy sufficient for all your financial needs?
Don’t purchase a term plan blindly; instead, always buy a term insurance coverage with appropriate planning and understanding. The best 1 crore term insurance policy assists you in accomplishing all your duties and responsibilities, including taking care of children’s higher education, their marriage plans, reimbursing the loans, securing a tension-free retirement for your spouse, and so on. By meticulously analyzing your requirements, always opt for the best term plan. Don’t overlook future aspects like medical inflation, health conditions, loan settlement, credit card payments, etc.
Before buying a 1 crore term insurance plan, you must analyze how much coverage will be sufficient to combat all aspects in the event of a contingency. The financial requirements and needs are not the same for all. Pondering all these parameters, make a robust decision while purchasing the best term plan.
Some unprecedented benefits of purchasing a 1 Crore term insurance plan
- If the insured policyholder dies due to an unanticipated incident, the family can lead a normal life without conceding anything
- These days, term plans are available online. So, you can conveniently purchase the best one as per your requirements.
- You can check the premium amount of your policy by using a term insurance calculator.
- There are flexible payout options that allow customers to choose an option as per their present requirements
- Lower premiums for a large life cover
- You can easily incorporate the riders (accidental death, critical illness, permanent disability, etc.) into your plan to uplift the coverage
- If there is an emergency, the coverage amount gives your family protection from your debt
- You are eligible for the benefits on the premium. The reduction from taxable income can go up to 1.5L under article 80C of the Income Tax Act, 1961
In a nutshell, a 1 Crore term plan gives your family the utmost financial protection and inspires them to lead a healthy and tension-free life. If you want to pick up the best plan for your requirements, compare all available plans thoroughly. Check all exclusion and inclusion of the policy to avoid the pain of claim rejection.