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Life Insurance Plans for 1 Crore

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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

Life Insurance Policy for 1 Crore Reviews

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  • LIC Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    The life insurance policy has been taken from the LIFE INSURANCE CORPORATION OF INDIA where it gives the maturity is for long term policy also added on that the premium i pay for this policy which is satisfactory. The policy is very good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 15, 2018
  • HDFC Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I am not satisfied with the service of the HDFC LIFE where i have purchased the life insurance policy with this HDFC LIFE. I have started using it from past few years where the policy is very good. They give the fake promises for this policy....
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 15, 2018
  • Bajaj Allianz Life Life Insurance
    "Safe plan for future"
    0.5 5.0/5 "Blown Away!"
    I have life insurance with Bajaj Allianz, I used to pay Rs. 12,000 for one year policy, it has the tenure of 40 years, Its a totally term plan for the value of 1 crore, they give lump sump amount to the nominees, the claim ratio is good and also terminal waiver on premium.
    Was this review helpful? 1
    , pune
    Reviewed on Dec 14, 2018
  • SBI Life Life Insurance
    "Best ULIP Policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased a market based policy 2 years ago. I have chosen SBI LIFE because it was suggested by my friend. I pay the premium amount of Rs. 10000. I make the premium through online. The growth was pretty good and tenure period of the policy is 10 years.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Best policy in LIC"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken with LIFE INSURANCE OF INDIA. I pay the premium amount of Rs. 5000 in a month. I have selected LIC because of the returns. I make the premium through ECS. Total tenure period of the policy is 25 years. My friend has referred me about this policy
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Good LIC policy"
    0.5 5.0/5 "Blown Away!"
    I'm just paying the premium and i have never get the sum assured amount and i will get it after 25 years of tenure period. I'm making the premium through ECS. I pay the premium amount of Rs. 5000 every month. I will get a coverage value of Rs. 1.27 Cr.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • Bharti Axa Life Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance from the Bharti Axa life as it has good returns i make the payment through on-line banking annually . This policy covers accidental and critical illness benefits with the tenure period of 15 years . Overall am satisfied with my policy .
    Was this review helpful? 0
    , faridabad
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    In the month of February, i have purchased a money back policy from Life Insurance corporation of India. I pay the premium amount of Rs. 15000. Last time i have paid the payment through cheque and in future i make through online. One of sister who is working as a LIC agent has referred this policy.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    I have purchased a term insurance policy 1.5 years back. There is no particular reason for choosing the LIC. I pay the premium amount of Rs. 26000 and i have chosen the annual payment mode. Sum assured amount was Rs. 70 lakhs. Total tenure period of the policy upto 70 years of my age.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have a life insurance policy with LIC from last 4 years and it is a long term policy. I pay my premium once in 6 months through direct payment and i am convenient with the payment options. Tenure period for this policy is 18-20 years. The returns and benefits are good in this policy.
    Was this review helpful? 1
    , ghaziabad
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have purchased the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA where the name of the policy is ENDOWMENT PLAN and i am using it from past 10 years. The maturity period of this policy is till 67 years of my age. This gives the policy coverage of 4 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Good Policy with Life Coverage"
    0.5 5.0/5 "Blown Away!"
    I have agent who coordinate with me for my life insurance, they are responding well, the customer support is good, they have different payment options. The policy name called Jeevan labh its for 15 years I get the benefits as lump sum amount with life cover.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India,the agent had clearly explain me about the policy coverage, plan benefits etc, there premium amount they have charged me was nominal,they charged in quarterly basis,overall service is good.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Fine policy for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    Along with my personal loan they have provided me a life insurance policy from HDFC LIFE. I have to pay the premium amount of Rs. 6000 in a year. I used to pay the premium through online. Total tenure period of the policy is 4 years. I'm getting a sum assured amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • SBI Life Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I took this Life insurance from Sbi life mainly because of the good returns. The payment am doing through online every year through online payments . The best about the policy is it covers accidental coverage and critical illness There customer service and customer response is also good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    Based on the benefits and returns i have chosen this life insurance corporation of India . I am satisfied with the amount which am making for the policy . Am making the payment yearly through online . This policy cover accidental benefits . Overall am happy with it.
    Was this review helpful? 0
    , faridabad
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have purchased a life insurance policy in my wife's name. 5 years back i have bought the Jeevan saral policy with Life Insurance Corporation of India. Since its a better company, i have selected the LIC. I pay the premium amount of Rs. 5400. Its a long term policy. I have selected the annual payment mode.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    I am using LIC using thee policies same policies life insurance coverage and two more different policies i am never contact customer Service for everything contact with agent only Responsiveness very good , Promised Interest Rate is less in LIC but trust worthy , Fees & Charges is use to pay by agent only. Hence i can give rating 5 for best service
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Dec 13, 2018
  • IDBI Federal Life Insurance
    "Very Good"
    0.5 4.5/5 "Excellent!"
    IDBI Life cover policy for my children there is more benefits in this policy i have to pay 30k every year after his age of 16 partially amount will received for his education after few years for marriage and in risk factor also amount will provide once terms will complete total Amount will be received in 3 terms for this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Very good"
    0.5 4.5/5 "Excellent!"
    I am using Life Insurance policy and need payment in six month once i am happy with LIC insurance policy . Since long time i am using Life cover policy so i am only trust to LIC for Life insurance payment is made in cheque and sometimes in cash which one collected by agent for service i can give rating 4.5 very good service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
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