"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • 1 Crore Term Insurance Plan

    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)


    (in INR)


    e-Term Plan

    (Basic Plan)


    1 Crore

    14600 Per Annum

    Max Life

    Online Term Plan

    (Basic Plan)


    1 Crore

    9046 Per Annum

    Star Union Dai Ichi Life Insurance

    Premier Protection Plan (Basic Plan)


    1 Crore

    22000 Per Annum

    ICICI Prudential

    iCare II Term Insurance

    (Basic Plan)


    1 Crore

    18293 Per Annum

    PNB Metlife

    Metlife Mera Term Plan

    (Basic Plan)


    1 Crore

    9011 Per Annum

    Bajaj Allianz Life Insurance


    (Basic Plan)


    1 Crore

    14513 Per Annum

    HDFC Life

    Click 2 Protect Plus

    (Basic Plan)


    1 Crore

    11145 Per Annum

    AEGON Life Insurance


    (Basic Plan)


    1 Crore

    8892 Per Annum

    SBI Life Insurance


    (Basic Plan)


    1 Crore

    6400 Per Annum

    Reliance Life Insurance

    Online Term

    (Basic Plan)


    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.

    This Page is BLOCKED as it is using Iframes.