Best Term Insurance Plan For Rs. 2 Crore

The most important aspect of a term plan is the amount of life cover your term plan is providing. This determines the level up to which your family is secured even in your absence. Mostly, term plans are quite well-known among the masses for providing high cover. Usually, people opt for a term plan of Rs. 1 Crore life cover. However, a term plan featuring a sum assured of Rs. 2 Crore and even higher cover are gaining popularity in the market.

Let us look at some of the best Rs. 2 Crore term plans that are available for you currently. 

Best 2 Crore Term Insurance Plans

There are a lot of options available in the market out of which the best ones are listed here for you:

1. Max Life Insurance Term Plan

Under this plan, you have the option to choose the tenure of the policy which is available up to the age of 85 years. Premium payment can be done monthly or quarterly or half-yearly or by an annual method. The Max Life Insurance Term plan offers a death benefit which varies as per the chosen plan variant. The plan variant can be specified at the time of purchase of the policy. A grace period of 30 days is available to clear the unpaid premium and to keep your term plan of Rs. 2 Crore active in case of any premium payment default.

2. HDFC Life Insurance Term Plan

The minimum age for entry into this policy is 18 years and the maximum age is 65 years.
The minimum maturity age for the HDFC Life insurance is 23 years and the maximum age is 85 years. The HDFC Life insurance plan offers life stage protection i.e. you will have the option to increase the basic sum assured without underwriting on any of the events of the life insured such as marriage, the birth of first child and birth of a second child. The policy offers a grace period of 30 days within which the unpaid premium can be cleared.

3. Tata AIA Life Insurance

This term plan of Rs. 2 Crore provides life cover up to the age of 85 years or it has the option to provide Whole life coverage till the age of 100 years. There are options available for the payment of premium in the form of Regular pay or Limited pay in 5 years, 10 years or 12 years or pay premium till 60 years of age. The TATA AIA Life insurance plan provides a discount on premium for high sum assured and you can avail enhanced protection. You can even avail tax benefits under Section 80C and Section 10 (10D) of the Income-tax Act, 1961.

4. Aegon Life Insurance Term Plan

In the Aegon Life Insurance Term Plan, you will have the flexibility by which you can select the form of Death Benefit payout i.e. as a fixed monthly income for 100 months, as a lump-sum payment or as a combination of both these factors. Low premium rates are available for female policyholders and non-smokers. This term plan of Rs. 2 Crore offers a Life Stage option by which the sum assured of your policy can increase on the occurrence of events like marriage, birth or adoption of your first child and birth or adoption of your second child.

5. ICICI Prudential Life Insurance Term Plan

The ICICI Prudential Life Insurance Term Plan has 4 flexible payout options i.e. lump sum payout, monthly income, increasing income and lump sum plus income. The plan offers a maximum policy term up to an age of 85 years. It offers special benefits for women with lower premium rates and options for coverage of critical illnesses. Tax benefits on premium paid and the claim amount obtained is available under the provisions of Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Conclusion

Hence, term plans have their advantages and with life being so very uncertain it is wiser to purchase one sooner. A term plan of  Rs. 2 Crore will be your assurance for your family that their future is secured even if any unexpected incident happens in the future. 

Also read - Best Term Insurance Plans For Senior Citizens

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.