Best Term Insurance Plan With Rs. 1 Crore Coverage
Imagine a situation when you are not around to protect your loved one, threatening, right? To deal with such a situation, it is best to be prepared in advance and buy insurance plans like term insurance. You should buy term insurance with adequate coverage and a 1 crore term insurance is recommended in such a case. Read on to know more about a 1 crore term insurance plan.
Table of Contents
What is a 1 Crore Term Insurance Plan?
A 1 crore term insurance plan as the name suggests offers term insurance coverage of Rs. 1 crore. This plan offers Rs. 1 crore financial compensation to the nominees in case the policyholder meets an unfortunate death. The best part about buying a 1 crore term insurance plan is that its premium is much more affordable as compared to many other plans.
A List of 1 Crore Term Insurance Plans
Listed below are some of the best 1 crore term insurance plans that you can consider buying in India:
- Kotak e-Term Plan: Kotak e-term plan is a non-linked non-participating life insurance individual pure risk premium plan that offers financial assistance to your family even when you are not around. This plan is available in different options such as life, life plus, and life secure option. You can also include a number of plans such as accidental death benefit rider, premium waiver rider, and more to further enhance the plan benefits. Moreover, there are three different payout options when you buy Kotak e-term plan, immediate pay-out, level recurring pay-out, and increasing recurring pay-out.
- ABSLI Digishiled Plan: Another term insurance plan that offers 1 crore coverage is the Digishiled Plan offered by Aditya Birla Life Insurance Company. This plan is available in 10 different options from which you can select a desired plan. The Digishiled plan is also a type of whole life insurance plan that provides coverage till the age of 100 years. Furthermore, the death benefits can be paid out either as monthly or lump-sum payouts. The best part about this plan is that survival benefit is also given if the policyholder survives the policy term.
- TATA AIA Life Insurance Sampoorna Raksha Supreme: The TATA AIA Life Insurance Sampoorna Raksha Supreme provides coverage for 40 years and the premium paying term is also 40 years. It is available in Life, Life Plus, Life Income, and Credit Protect plan options. This plan also offers special discounts to female policyholders as well as special benefits when diagnosed with any kind of terminal illness. A tax benefit of Rs. 46,800 is offered along with the TATA AIA Life Insurance Sampoorna Raksha Supreme.
- IndiaFirst Life Guaranteed Protection Plan: The IndiaFirst Life Guaranteed Protection Plan is another plan that tops the list of 1 crore term insurance plans. This plan provides coverage till the age of 99 years and is also available in the Return of Premium option. There is flexibility that is offered along with the IndiaFirst Life Guaranteed Protection Plan, payments can be either done monthly or lump sum. It provides death benefits as well as financial assistance in case the policyholder is diagnosed with a terminal illness.
- HDFC Life Click 2 Protect Super Plan: Another term insurance plan that provides coverage of Rs. 1 crore is the HDFC Life Click 2 Protect Super Plan. With the HDFC Life Click 2 Protect Super Plan, you have the option to choose an additional cover for your spouse as well as choose from different options available. With the return of premium option, you can also get back all the premium that you have paid towards the HDFC Life Click 2 Protect Super Plan.
Take Away
Thus, choose a desired term insurance plan that offers coverage of Rs. 1 crore and secure your family against uncertainties. You can also explore a number of other options when it comes to buying 1 crore term insurance plans with InsuranceDekho.
Also read: Is Life Insurance Mandatory for a Home Loan?
