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
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have Life Insurance policy which was taken direclty through LIC agent.This was a Jeevan Anand policy which is a Maturity benefit policy for the tenure of 20 years .The premium is paid on quarterly basis and there was no difficulties faced so far when availed this policy.I will be paying the premium through the agent.
    Was this review helpful? 0
    , mumbai
    Reviewed on Oct 16, 2019
  • LIC
    LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC on 9 years before. The policy is for 15 years. I am paying premium in the quarterly package the amount of 6 thousands which is nominal. While getting a policy my agent has given an information about the policy details. It covers myself and children. It is a jeevan anadha policy.
    Was this review helpful? 0
    , kanchipuram
    Reviewed on Oct 15, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken my life insurance policy from LIC. It was a Jeevan Umang. Its almost 150 years old which covers for 95% and the people invested in LIC is higher when i compared to others. This policy has two benefits one its a life insurance policy and other is pension covered policy. After 60 of years of age, i will get the pension.
    Was this review helpful? 0
    , vellore
    Reviewed on Oct 15, 2019
  • LIC Life Insurance
    "Medium"
    0.5 3.0/5 "Satisfactory"
    One month before I have taken a personal loan so they made to take life insurance with LIC company. On one payment need to do fully. In case if we missed to do payment or for some other reason unable to do from insurance they will claim full amount. Myself applicable for 10 lakhs but taken for 5.5 lakhs.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on one year before. I am paying premium in the quarterly package for the amount of 2065 rupees.While getting a policy my agent has given an information about the policy details. It covers my mother only.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent.This is a Money back policy and this tenure is for 25 years,I am paying the premium on monthly basis.I am paying Rs.2168 and paying the premium through online only .I have got the policy documents on time .I am really satisfied with the service so far.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 14, 2019
  • ICICI Prudential Life Insurance
    "Average"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in ICICI PRUDENTIAL on 6 months before. The policy is for 15 years. Now I am paying premium for 25 thousands rupees. While getting a policy my agent has given an information about the policy details, however there are some charges applicable.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 1 year before. The policy is for 20 years. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details. It covers myself. The amount will get auto debit from my account. It is jeevan anadha policy.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on 8 years before. The policy is for 20 years. It is a jeevan anadha policy. I am paying premium in the yearly package paying for 12 thousands. While getting a policy my agent has given an information about the policy details. It covers up to myself.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 14, 2019
  • SBI Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    My friend has suggested me a money back from SBI LIFE. I got the policy 2 years before. I have been paying the premium amount of Rs. 7000 for every six months. I make the premium through ECS. Just for the savings purpose, i bought this policy.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Bajaj Allianz Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    One of my asked me to join in a Bajaj allianz life insurance policy. This is also money back policy. I pay the premium amount of Rs. 5000 and i have chosen the quarterly payment mode. I bought the policy 8 years back. Once the amount got credited to my account.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    There is no reason for choosing the life insurance policy from LIC. I hold a money back policy because every 5 years, i get the full money back to my account. I have been paying the premium amount of Rs. 1500 every month. I have no idea about the sum assured amount and the policy has a term of 15 years.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Exide Life Insurance
    "Good term policy"
    0.5 4.0/5 "Great!"
    I have chosen the life insurance policy from Exide because its easy approved term policy which covers Rs. 30 lakhs for any type of death. Its covers for both life and accidental. I have been paying the premium amount of Rs. 10,200 and i have chosen the yearly payment mode. This policy covers upto 52 years of my age.
    Was this review helpful? 0
    , gudivada
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have Life Insurance policy which was directly taken through LIC agent .This policy tenure is for 15 years and i am paying the premium within 6 months .I have got all the details about the insurance policy very clearly through the agent and paying the premium through agent.I am really satisfied with the service so far.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I'm getting the complete benefits in LIC. I took the life insurance policy 15 years back. I have been paying the premium amount of Rs.7000 for every six months once. They have offered me a term period of 20 years. I make the premium in their branch by cash.
    Was this review helpful? 0
    , sawai madhopur
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on 5 months back. The policy is for 16 years and the policy name is Jeevan labh. I am paying premium in yearly package for nearly 30 thousands . While getting a policy my agent has given an information about the policy details. It covers up to myself. I visit directly to office to do the payment.
    Was this review helpful? 0
    , nellore
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Believable policy"
    0.5 4.0/5 "Great!"
    I bought the life insurance policy from LIC because we all believe in LIC and its undertaken by the Government. I bought the jeevan Anand policy. I am paying the premium amount of Rs. 1599 for every quarter. They are providing the sum assured amount of Rs. 2 lakhs. The policy term is 20 years.
    Was this review helpful? 0
    , bikaner
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I had taken a life insurance in LIC on 21 years before. The policy is for 15 years. I was paying premium on monthly package for the amount of 800 rupees. While getting a policy my agent has given an information about the policy details. I closed the policy and settled the amount on time.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 13, 2019
  • Shriram Life Life Insurance
    "Need to decrease charges"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in SHRIRAM LIFE on 3 months before. The policy is for 10 years. I am paying premium in the yearly package of 15 thousands. There is some additional charges of 4.5% for GST. While getting a policy my agent has given an information about the policy details. It covers my whole family.
    Was this review helpful? 0
    , dharmapuri
    Reviewed on Oct 12, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 2 years before. The policy is for 20 years. I am paying premium in the quarterly package. While getting a policy my dad is an agent has given an information about the policy details. It is a jeevan anadha policy scheme. It covers up to myself.
    Was this review helpful? 0
    , mangalore
    Reviewed on Oct 12, 2019
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