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Life Insurance Plans for 1 Crore

You can purchase various life insurance policies which offer a coverage of Rs.1 crore at a very affordable rate. As a policyholder, you can live in peace knowing that your loved ones will be able to take care of their needs even in your absence.
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Putting a value on life is hard, as one cannot fathom what life is actually worth in this tumultuous world. The net worth of life depends on an individual, with different people placing different values on life. Life insurance policies try to help us figure out how much our lives are worth, offering covers to suit our lifestyles. A life insurance cover of Rs. 1 crore is traditionally viewed as an excellent amount to support the family of a policyholder in the event of his/her demise, enabling them to go on with their lives without having to worry financial requirements.

Benefits of 1 Crore Life Insurance Plans:

Life Insurance policies for Rs. 1 crore are traditionally designed to offer financial comfort to the family of a life insured in the unfortunate event of demise of a policyholder. This can help the family/nominee plan for the future, ensuring that life goes on.

Who can take Life Insurance for One Crore?

Traditionally, life insurance policies with a cover of Rs. 1 crore require certain financial obligations from the side of a policyholder. One should have sufficient income to be able to afford the premiums, which are higher when compared to premiums for lower covers. This in turn means that they should have an income source which enables them to pay this premium regularly.

These policies can be taken by members of both genders, subject to them meeting the basic eligibility criteria set by individual life insurance providers.

Coverage of Rs. 1 crore – Plans offered

There are a number of companies which offer Life Insurance for Rs 1 crore, with some of the most popular plans mentioned below.

  • HDFC Life Click2Protect Plus Plan – The features of this plan are mentioned below.
    • Multiple plan options, with additional riders for added benefits
    • Policy term ranging from 10 - 40 years
    • Special premium rates incentivizing non-tobacco users
    • Premium can be paid either annually, half-yearly, quarterly or monthly
    • Option to increase cover during important milestones
  • LIC Amxulya Jeevan - Some of the major features of this plan are mentioned below.
    • Flexible cover – one can opt for covers exceeding Rs 1 crore
    • Individuals get a rebate for life insurance cover of Rs 1 crore and more
    • Flexible policy terms ranging from 5 years to 35 years
    • Premium can be paid either yearly, half yearly or through a single premium
  • SBI Life eShield – The major features of this plan are mentioned below.
    • Additional rewards for policyholders maintaining a healthy lifestyle
    • Additional plans and riders to customize plan according to an individual’s need
    • Tax benefits under the Income Tax Act
    • Flexible policy terms ranging from 5 years to 30 years
    • Premiums for Rs 1 crore start at Rs 18 per day, ensuring one can afford it
    • Accidental death benefits are also covered under this scheme
  • Aviva i-Life – The benefits of this plan are mentioned below.
    • Cover can be enhanced depending on needs
    • Policyholders get rebates on premium, depending on their cover, with females getting an additional 5% rebate
    • Simple and hassle free process
    • Premium can be paid either yearly or half-yearly, offering flexibility to policyholders
    • One is entitled to tax benefits under Section 80C of the IT Act
  • Bharti AXA Life eProtect – This plan which is designed to protect the family of a policyholder offers multiple benefits, which are highlighted below.
    • One can get a life insurance cover of Rs 1 crore for premiums starting at Rs 6,100
    • Family care benefit under this plan is designed to take care of urgent financial needs in the event of demise of policyholder
    • Non-smokers get additional rewards and benefits on their premiums
    • Plan can be purchased online, without any hassles
    • Policyholders are entitled to tax benefits under this plan
  • ICICI Prudential iCare – This plan, designed with a view to safeguard the family of a policyholder after his/her demise offers certain benefits, as highlighted below.
    • Hassle free application process
    • Flexible premium payment options
    • Flexible policy terms, ranging from 5 years to 30 years in multiples of 5 years
    • One can opt for additional accidental death benefits under this scheme
    • Simple eligibility criteria
  • Edelweiss Tokio Life Protection Plan – This is a cost effective life insurance plan offering protection to a policyholder’s family, the features of which are mentioned below.
    • Low premiums compared to other plans
    • Policyholders can opt for a limited premium payment plan to match their income
    • Special rates are offered to those who lead a healthy lifestyle (non-tobacco users)
    • Flexible policy terms ranging from 10 years to 30 years

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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Life Insurance Policy for 1 Crore Reviews

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  • LIC Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I am happy with life insurance of corporation of India I have life insurance corporation of India last five years back, my plan is fifteen years , and this is single insurance. This is best customer service provided and response at a time and this is best insurance is all over insurance
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have taken Life Insurance policy through LIC agent.The name of the policy is Jeevan Anand . The policy tenure is for 15year and 7years completed now .I have got the policy documents on time .There are grace period no extra charge if premium is paid on delay basis.I am paying the premium on yearly basis .I am paying cash payment will pay through branch .
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 23, 2019
  • Bharti Axa Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am holding the TERM PLAN policy with the BHARTI-AXA LIFE INSURANCE where i am using it since from last many years. The sum assured amount with this policy is of 25L for the nominee. The policy maturity period is for long term. The premium paying for monthly once.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 23, 2019
  • Max Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    MAX LIFE INSURANCE is the insurance provider where i am holding the TERM PLAN with this policy, and using it since from last 6 years. The policy has the maturity period of this policy is for 70 years of the age. The premium paying for monthly once.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "long lasting investing plan "
    0.5 4.0/5 "Great!"
    For my family benefit, I taken a investment plan in LIC for next twenty years . I need to pay an amount of 8000 rs per annum. They will send me the debit message after the money has been deducted from my account . I got the physical copy for my insurance policy when I started the plan .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "Need to improve the benefits"
    0.5 3.0/5 "Satisfactory"
    The benefits are too less in LIC as compared to other insurer. I have taken 3 to 4 policies through agent, he is very helpful. I use to pay the premium through cheque, its around 50K in a year. I have opted for a long term policies and the sum assured is less.
    Was this review helpful? 0
    , kolkata
    Reviewed on Apr 23, 2019
  • Max Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    Max life is also good and the premium is reasonable for the life insurance. I took a short term plan and the tenure is 10 years. The customer services are good. I make the premium through ECS, it was around 70,000 rupees per annum for two policies.
    Was this review helpful? 0
    , kolkata
    Reviewed on Apr 23, 2019
  • ICICI Prudential Life Insurance
    "Good benefits"
    0.5 4.0/5 "Great!"
    I have a life insurance policy, the benefits are good with ICICI prudential. I have taken 2 policies and using the service for last 7 years. The service is good with them. They have explained me the policy about the benefits. It was taken for tax benefits. The payment was debited from my account in a yearly basis.
    Was this review helpful? 0
    , kolkata
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have purchased the CHILD PLAN with the LIFE INSURANCE CORPORATION OF INDIA where i am using it since from last 17 years. The policy has the maturity period of long term as the premium paying for monthly once through the ecs from the salary. The service is good.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have purchased the PENSION plan with the LIFE INSURANCE CORPORATION OF INDIA where the maturity period of this policy is for long term also the premium paying for monthly once through the ECS from the salary. I am using from last 17 years it gives the coverage for disability, life coverage.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have taken the LIFE INSURANCE CORPORATION OF INDIA and using it since from last 17 years. The name of the policy is ENDOWMENT plan where the maturity period is for long term also the premium paying for monthly once. The policy gives the self coverage.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 23, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance Policy through LIC agent premium is very nominal ,The name of the policy is jeevan anand policy .This policy for 20years The payment is paid through branch,online and through agent ,policy documents got on time ,premium is paid delay also need to pay extra amount.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 22, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my life insurance with Life insurance corporation of India from past 10 years, i have been taken two policy from them, the agent had clearly explain me about the plan benefits and policy coverage, the premium amount i use to pay on monthly basis through on line mode.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 22, 2019
  • LIC Life Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I have a money back policy with LIC and it was taken long back. But am not happy with the maturity value. I make the premium quarterly basis, its 1500 rupees. I have not reached the customer service. It is a life time policy, every 4 year will be getting bonus. Last 2 premiumâ??s have paid through online and before that made cash.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • HDFC Life Life Insurance
    "Satisfactory policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance of 30L which has addon benefits of critical illness and accidental. I have chosen HDFC LIFE after doing online comparison because the premium is less and the tenure is 15 years but I need to pay only for 10 years and remaining 5 years will be paid by the insurer. The policy was started 3 months back with the monthly premium of 1600 rupees. The customer service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • LIC Life Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    I have only one policy with LIC, I used to pay the premium of Rs. 1727 on quarterly basis it has the duration of 10 years. Then I will getting the sum assured. I almost paid for 7 years, they have tax benefits and life coverage for the accidental and natural death.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I hold my life insurance with LIFE INSURANCE CORPORATION OF INDIA, the agent had clearly explain me about the plan benefits, policy coverage and the term and conditions, they have given me hard copy as well, their customer care service is good, the premium amount on yearly basis , i use to pay through on line.
    Was this review helpful? 0
    , thane
    Reviewed on Apr 20, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 3.5/5 "Pretty good"
    I have purchased the JEEVAN BHIMA policy with the LIFE INSURANCE CORPORATION OF INDIA where i am using it since from last few years and the maturity period of this policy is for 35 years. The premium paying for three months once and it gives the family coverage.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 20, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    The name of the policy is JEEVAN ANAND that i am using it since from last 25 yrs. The maturity period of this policy is for 35 years. The premium paying for 3 months once, it gives the policy coverage is for family also it provides the life coverage.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 20, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am holding the JEEVAN ANAND policy with the LIFE INSURANCE CORPORATION OF INDIA and the maturity period of this policy is for 20 years also the premium paying for the policy is for 6 months. It gives the policy coverage for complete family.
    Was this review helpful? 0
    , vadodara
    Reviewed on Apr 20, 2019
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