"Spending a whole day looking for insurance is fun," said nobody, EVER!

1 Crore Term Insurance Plan

Know the features and benefits of availing a Rs.1 crore term insurance. Make your decision by comparing the life insurers offering the 1 crore term insurance plans and choose a plan that best suits your needs and convenience.
 4.5 / 5.0   by 17481 users
Used this product? Write a review >>

Fees & Charges

Promised Interest Rate

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

Along with rising costs of living, the associated risks to life in general need appropriate cover as financial support post one’s untimely can be a really tough choice for the family members. In the early days of life insurance, choosing an appropriate cover might have been a bit of a fix for people, owing to the premium values involved. But nowadays, it is a different scenario wherein individuals from almost any economic category can avail a life insurance of a sizable cover.

Comparison of Plans Offering 1 crore Term Insurance:

Among the simplest plans for life insurance, term insurance plans are available with multiple companies and they normally offer a cover of more than 1 crore. For this particular case though, we’d be looking at sum assured amount of 1 crore rupees so that we can offer a standardised depiction of the rates of premiums and features of the individual plans.

One should understand that there are many criteria as per which one can rate any particular insurance product. By far, the most important criteria would be the claim settlement ratio of the insurer. So, in the table below you’d find a gradation and rating of the best term insurance plans available in India as per the claim settlement ratio of the insurers is concerned.

Insurers Name

Plan Names

Claim Settlement (in percentage)

Sum Assured (Lump Sum in INR)

Premium*

(in INR)

LIC

e-Term Plan

(Basic Plan)

98

1 Crore

14600 Per Annum

Max Life

Online Term Plan

(Basic Plan)

95.5

1 Crore

9046 Per Annum

Star Union Dai Ichi Life Insurance

Premier Protection Plan (Basic Plan)

94

1 Crore

22000 Per Annum

ICICI Prudential

iCare II Term Insurance

(Basic Plan)

93.8

1 Crore

18293 Per Annum

PNB Metlife

Metlife Mera Term Plan

(Basic Plan)

92.9

1 Crore

9011 Per Annum

Bajaj Allianz Life Insurance

iSecure

(Basic Plan)

91.9

1 Crore

14513 Per Annum

HDFC Life

Click 2 Protect Plus

(Basic Plan)

90.5

1 Crore

11145 Per Annum

AEGON Life Insurance

iTerm

(Basic Plan)

89.8

1 Crore

8892 Per Annum

SBI Life Insurance

eShield

(Basic Plan)

89

1 Crore

6400 Per Annum

Reliance Life Insurance

Online Term

(Basic Plan)

83.8

1 Crore

7950 Per Annum

*One should understand that the above mentioned plans reflect the premium payment only as samples for the basic plan option. The rates are subject to change based on the discretion of the insurer. Additionally, if one decides to go for optional riders, the premium rates might increase. The above rates as for a healthy person aged 30 years who doesn’t smoke, consume alcohol or tobacco and has chosen a policy term of 30 years.

A quick overview of the above mentioned plans are given as follows:

  1. LIC e-Term: LIC has held the highest claim settlement ratio for about 3 years in a row and e-Term is one of the best plans available for 1 crore and above of Sum Assured. The plan is a pure insurance policy

  2. Max Life Online Term Plan: This plan can be applied for online and has a decent premium rate that falls below 10000 rupees. The basic plan offers just the life cover but it also has a couple of rider options.

  3. Star Union Dai Ichi Premier Protection Plan: The insurer is a joint venture of a couple of the best banks in India and a premier international life insurer. The plan is one of the relatively higher priced ones.

  4. ICICI Prudential iCare II: Offered from one of the best life insurers in the country, this plan can also be bought online and requires almost no time to get finalised. It feature quick claim settlement times.

  5. PNB Metlife Mera Term Plan: One of the few economical plans in India to offer a lump sum pay-out of 1 crore as a death benefit along with appropriate tax benefits.

  6. Bajaj Allianz iSecure: A beneficial term plan with affordable rates from a highly trusted private insurer, this plan offers a level cover for high sum assured amounts.

  7. HDFC Life Click 2 Protect Plus: One of the mid-level plans as per the premium rates are considered, the basic plan also offers an income option as a rider in case of total permanent disability.

  8. AEGON Life Insurance iTerm: One of the lower priced premiums in the market with a decent claim settlement ratio, the life cover is till 75 years with an in-built terminal illness benefit.

  9. SBI Life Insurance eShield: A term plan with in-built Accidental Death Benefit that allows for a more comprehensive level coverage on life. Also, it is one of the cheapest options in the market.

  10. Reliance Life Online Term Insurance: Non-smokers get a special discount and the life cover is for an age of 75 years. Medical tests are done at home.

Choosing an Appropriate Term Insurance

Unlike conventional life insurance policies that offer coverage for the entire life, one needs to be more picky with term insurance options since these are for a limited period of time. Of course, premium rates are important, but they are not the only aspect. One needs to pay attention to the exclusion list, benefits and other terms of coverage. Checking with real life cases and speaking to the insurance agents is also helpful to find out the claim settlement ratio and time. After all, an insurance scheme that takes a long time to deliver the benefits isn’t going to be any helpful to you or your family.

Life Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • Kotak Life Life Insurance
    "Excellent"
    0.5 4.5/5 "Excellent!"
    I am a employee of Kotak Life and have taken one policy for saving also company has provided me a policy. It is a long term policies. The tenure period is 15 years. I pay the premium of 18K yearly through online or sometimes cash. The online app is good and the transactions are done immediately.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 23, 2019
  • Birla Sun Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with birla life, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 23, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with HDFC LIFE from long time, and I itself have applied for this insurance is i have knowledge regarding this,and there premium amount they have given me was nominal ,i use to pay up to 3500 as an premium on yearly basis,and there is no hidden charged , and i pay premium through on line.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 23, 2019
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with ICICI prudential ,i took this insurance long bank , and i was agent and previously i was Ex -employee for them ,so i have knowledge about the insurance which insurance will be best ,and i pay premium on yearly basis, i use to pay through on line mode.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good "
    0.5 4.5/5 "Excellent!"
    I have one LIC policy and its a term plan which was taken in the year of 2000 through an agent. I am happy with the service and the benefits are good. Am paying the premium of 25K per year through online. The sum assured value is 5L and I need to pay the premium till 2020.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Not satisfied"
    0.5 3.0/5 "Satisfactory"
    I am having LIC policies and am using the service for more than 10 years. I only visit the branch and never contact the customer care center. I think its a money back policy and need to pay only once. I have paid the premium of 45K for 3 years through cheque. The benefits are below average.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My life is insured with LIC from last 12 years and it is a money back policy. I get money back after every 5 years in this policy. I pay my premium once in 6 months and i am convenient with the payment options. Tenure period for this policy is after 30 years.
    Was this review helpful? 0
    , surat
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance policy with LIC from last 15 years and it is a long term policy. My premium amount is auto debited from the salary account for this policy. I am happy with the returns and benefits of this policy. This policy will get matured at 2028.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a life insurance policy with LIC from last 8 years and it is a money back policy. I get money back after every 5 years and this policy is for 20 years. I pay my premium on annual basis through online and i get good returns after maturity period.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    I have taken Jeevan bheema from Lic as its been Government institution , so the assurance is there regarding the policy benefits , I used to get income tax benefits I make the payments through auto debit option overall am pretty much satisfied with the service and response. .
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    I took this Life insurance Money back policy from Lic insurance company mainly because of the good returns, its long tenure period of 20 years , the payment can be done through only payments Quarterly . The best about the policy is claim rate is high compared to other policy available in the market. There customer service and customer response is good .
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    I took life insurance jeevan saral policy from life corporation of India . I already paid for few years . As the policy coverage of good sum assures amount , which was my first policy at my initial stage . It has good benefits like accidental coverage and critical illness coverage . The tenure period is 25 years . Overall am satisfied with my policy
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    I took this life insurance jeevan anand policy from Lic insurance company mainly because of the good returns. The tenure period is 20 where i already made the payment for first 2 yeairs . Am doing my payment yearly through online banking this policy covers accidental benefits and critical illness .
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 23, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 3000 it is nominal , and premium amount i use to pay through on line.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 22, 2019
  • Birla Sun Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Aditya birla , there service is they provide me was excellent, till now i have not face any issue in that, there premium amount they have charged me in monthly basis,they have charged me up to 6200, and it is nominal to me , the agent had explain me about the policy coverage and plan benefit properly,i use to pay on on line mode. overall service is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased my money back policy long bank and twice i have received the cash in my account without giving any request and I'm quite happy about the received sum assured amount. I pay the premium amount of Rs. 600 every month. I make the premium through online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from LIC. I have chosen the plan called Jeevan Anand. This is the tax benefits policy. I pay the premium amount of Rs. 1000 every month with the tenure period of 2.5 lakhs. This is a 15 years tenure period policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have bought the life insurance policy in the year of 2011. My agent has suggested me about this policy. I have been paying the premium amount of Rs.10300 through ECS. I have chosen the mode of annually. Overall, I'm satisfied with the LIC policy.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my money back from LIC. I have selected the LIC company for my policy its because of the better option. They are providing various payment mode facilities. I'm satisfied with the sum assured amount and LIC customer care service is really fine.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 22, 2019
  • Kotak Life Life Insurance
    "Good Insurance Policy"
    0.5 4.0/5 "Great!"
    I have purchased a accidental covered policy from Kotak Mahindra bank. Kotak gives more online services and the app is really good. I have got this policy 5 months back. I made a premium amount of Rs. 1200 and this policy covers only for me. I have not claimed anything in this policy so far.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 22, 2019
Common Loader Icon
Page 1 of 50 1 2 3 4 5

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.