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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  • Bajaj Allianz Life Life Insurance
    "staff at the nearby office are prompt and efficient"
    0.5 5.0/5 "Blown Away!"
    I have been receiving a pension through Bajaj Allianz for several years. The payments have always been received on time. The staff at the nearby office are prompt and efficient. I recommend this company for cases like pensions where are periodic payments.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 26, 2020
  • LIC
    LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My life was insured from LIC because my parents have taken the policy from the same company. I pay the premium amount of Rs. 5650 on yearly basis. I have no idea about the sum assured amount. I bought the policy 8 years before. I need to pay the premium upto 20 years. Tax benefits applicable on this policy. I will visit the branch directly to pay the premium.
    Was this review helpful? 0
    , mysore
    Reviewed on Feb 25, 2020
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My life insurance was taken from LIC because when the agent approached me i felt the benefits are good. Its a Government undertaken company thats the other reason for selecting LIC. I pay the premium amount of Rs. 14150 on a half yearly basis. Total term period of the policy is 15 years in that i need to pay the premium for 11 years and there will be a locking period for 4 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 25, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance policy from LIC .This was a money back policy for the tenure of 20 years and the coverage value for Rs. 3L after maturity i will be getting Rs.6L returns. I am paying premium on annual basis Rs. 18500 through online .
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 24, 2020
  • LIC Life Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I have taken an Endowment Policy through LIC. This policy tenure is 20 years and paying the premium through ECS . According to my experience everything is good and also I will be getting amount after 25 years. This is a long term policy, but I am not getting that much benefits.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 24, 2020
  • LIC Life Insurance
    "Normal policy"
    0.5 4.0/5 "Great!"
    Based on my friend suggestion, I have taken a life insurance policy from LIC. I need to pay the premium for 25 years for the sum assured amount of Rs. 25L. I am paying the premium amount of Rs. 1,450 on a monthly basis. I have taken the policy on 8 years before. I have no idea about tax benefits features.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 23, 2020
  • LIC Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    My friends were recommended me about the life insurance policy from LIC. I bought the policy in the year of 1997. I pay the premium amount of Rs. 450 on a quarterly basis. I need to pay this premium for 25 years. I visit the branch to pay the premium and the employee response is not that much good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 23, 2020
  • LIC Life Insurance
    "Need to improve their services"
    0.5 5.0/5 "Blown Away!"
    For the tenure period of 28 years,I have taken life insurance from LIC. I have taken this policy on 7 years back. I have faced an issue , for the premium amount to pay amount use to auto debit through ECS mode but for the past 4 months amount was not detected, so I raised to the concern company. They told that I haven't maintain a sufficient amount in my account then I have provided my bank statement. Then the amount was debited via ECS . I need to pay the premium amount of 2,162 rupees. It cover up to myself.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 22, 2020
  • HDFC Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from HDFC Life on 5 years back. It cover up to myself. I am paying the premium amount on yearly basis of 50K which is high but it is fine to pay the amount. While taking this insurance the agent has given all the details about policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 22, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken maturity benefit policy directly through lic agent .I am paying the premium online .The policy tenure is for 15 years and the agent shared all the relevant details about the policy .The policy was closed and i have not faced any issues so far and everything is good on this policy it is for famiy benefits.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Feb 22, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy directly through LIC agent . This is a money back policy for the tenure period of 15 years. I was paying the premium through online on before but later the premium is paid through agent. Everything was good to me so far. I have closed this policy successfully and the policy details was clearly shared by the agent .
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Feb 22, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a Life Insurance policy from LIC and the policy is Jeevan Anand term is for 30 years, after 30 years i am getting some returns.This policy is going to be completed and not get matured. I am getting as a pension as every month Rs. 28000. LIC is the back bone of Indian economy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 21, 2020
  • Bajaj Allianz Life Life Insurance
    " the easiest and best investments "
    0.5 5.0/5 "Blown Away!"
    Bajaj Allianz life insurance has been one of the easiest and best investments I have made to date. Right from the initial customer service to the easy availability online, it has made me secure and relaxed about my investment. True value for money
    Was this review helpful? 1
    , chennai
    Reviewed on Feb 21, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance policy from LIC. I am paying premium on yearly basis Rs. 32,000 through online. The policy term is 20 years and will be getting some returns after this maturity. Service was good and plan benefit was super and it has good payment options.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 21, 2020
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance policy from HDFC LIFE. The premium i am paying yearly Rs.26,000 with the term of 20 years, after 20 years i will be getting good returns. Customer service and responsiveness was good. This policy has good plan benefit and it has good coverage.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 21, 2020
  • ICICI Prudential Life Insurance
    "Not recommendable policy"
    0.5 2.0/5 "Expected more"
    I have bought the life insurance from ICICI prudential on 8 years back. This is a market based policy and I have invested the money of Rs. 1L and I have paid the premium amount of Rs. 3000 on every month. After 4 years when I withdraw the money, I got only Rs. 64,000 and I had a loss of this policy. My friend told me that this policy is good for investment. This is a tax benefit policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 21, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken my life insurance from LIC because its a guaranteed policy since its Government based company. Whatever the commitment they are making to the customer, they are keeping the same. They have their own standard as well. Jeevan Anand is a good plan after the policyholder's death the nominees will get the money other than this there are several benefits are available.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 21, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 4.0/5 "Great!"
    I have taken a Life Insurance policy from LIC and the policy term is 15 years, after that I will be getting good return. I am paying premium Rs. 30,000 on Yearly basis through online and he given all the plan benefits properly. LIC always provides me a good service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 21, 2020
  • LIC Life Insurance
    "Best policy "
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy through LIC agent which was a money back policy for the tenure period of 10 years. I am paying the premium through yearly basis. I will be getting maturity amount but not sure about the value. Customer service was fine.
    Was this review helpful? 0
    , dindigul
    Reviewed on Feb 20, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 4.5/5 "Excellent!"
    I have taken life insurance policy directly through lic agent .This was a Money back policy and the premium is paid on quarterly basis and the premium amount was Rs.3550.This was paid directly through agent. The process was very good and policy tenure was 15 years only. The policy features and benefits are pretty good .
    Was this review helpful? 0
    , thrissur
    Reviewed on Feb 19, 2020
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