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  • Life Insurance for One Crore

    Life Insurance
    • Premiums as low as Rs.18/day for sum assured of Rs.1 crore
    • Paperless process available
    • Choose between lump sum and monthly payout options

    Putting a price on one’s life is not easy, especially because no amount of money can truly replace the loss of a loved one. But with life being as unpredictable as it is, securing the lives of your dependents is an absolute necessity. To this end, a life insurance policy can help you safeguard your dependents financially in the event of an unfortunate eventuality.

    Life insurance plans offer policyholders a risk cover against death. If the life assured were to meet with an untimely death during the policy term, the insurer will provide a payout to the nominee. However, this payout will vary based on the sum assured that the policy buyer opted for at the time of purchasing the policy. Certain life insurance policies offer policyholders a sum assured of up to Rs.1 crore, thus ensuring that one’s dependents are able to carry-on with their lives, without facing any financial hardships, even if the life assured succumbs to an untimely death.

    Benefits of purchasing a Rs.1 Crore Life Insurance Plan

    While opting for a high sum assured plan may cost slightly more in terms of the premium, it will go a long way in providing financial security to your dependents. A few key reasons why you should opt for a policy with a high sum assured are:

    • Helps pay-off loans and debts: In case you have taken a home loan, car loan, or education loan, it is advisable to opt for a high sum assured when purchasing an insurance plan, since the death benefit payable can help pay-off these debts without any hassle.
    • Inflation: Prices of goods and commodities keep increasing every year as a result of inflation. What might seem like an adequate sum assured today may not be sufficient after a period of 10 years or 20 years. Thus, it is recommended that you take inflation into account when purchasing a life insurance policy.
    • High Sum Assured Discounts: Several insurers offer a discount on the premium if you opt for a high sum assured, thereby helping you pay less for your high sum assured policy.

    Who can purchase Life Insurance for Rs.1 Crore?

    Generally, any individual who meets the insurer’s pre-defined eligibility criteria can purchase an insurance policy. However, you will have to keep in mind that purchasing an insurance plan which offers a high sum assured will also cost you in terms of the premium. Thus, before you purchase a high sum assured plan, you will need to ensure that you have the means to make the premium payments as per schedule.

    Life Insurance Plans that offer a Sum Assured of Rs.1 Crore

    A few popular life insurance plans that offer a sum assured of Rs.1 crore are:

    SBI Life eShield Plan

    The eShield Plan from SBI Life is an individual, non-participating, non-linked, online, pure term insurance plan that offers a high sum assured at affordable premium rates.

    Key Features of SBI Life eShield Plan

    • The policy offers four plan options that customers can choose from.
    • An in-built Accidental Death Benefit is offered under certain plan options.
    • The plan can be purchased by any individual between the ages of 18 and 60/65 years (as per the plan option chosen). The maximum maturity age under this plan is 70 years.
    • One can opt for a policy tenure between 5 and 30 years.
    • Insurer offers additional rewards to policyholders for maintaining a healthy lifestyle.

    Aegon Life iTerm Insurance Plan

    The iTerm Insurance Plan from Aegon Life is a non-participating, non-linked, term insurance plan that guarantees financial security to the policyholder’s family in case of an unfortunate eventuality.

    Key Features of Aegon Life iTerm Insurance Plan

    • Policyholders can enjoy the life cover provided by this plan up to the age of 80 years.
    • The plan comes with an in-built terminal illness cover.
    • The policy offers one the flexibility to choose a suitable death benefit payout option.
    • Preferential premium rates are offered for women and non-smokers.
    • Policyholders have the option to increase their sum assured when they have attained certain key milestones in life.

    HDFC Life Click2Protect 3D Plus Plan

    The Click2Protect 3D Plus Plan from HDFC Life is a non-participating, non-linked, term insurance plan, which provides financial security to you and your dependents.

    Key Features of HDFC Life Click2Protect 3D Plus Plan

    • Policy buyers have the option to customise their policy by choosing any one of the 9 plan options offered.
    • In the event of the policyholder getting diagnosed with a critical illness or suffering from total permanent disability due to an accident, all future premiums will be waived off.
    • One can increase the cover annually through the top-up option.
    • The maximum age at entry is restricted to 65 years.
    • Special premium rates are available for non-smokers and women.

    Bharti AXA Life eProtect Plan

    The eProtect Plan from Bharti AXA Life is a non-participating life insurance plan that provides policyholders and their nominees a host of benefits at a low cost.

    Key Features of Bharti AXA Life eProtect Plan

    • This policy comes with an in-built Family Care Benefit, ensuring that the immediate needs one’s family are taken care of.
    • The policy has two plan term options.
    • Insurer provides discounts on premiums to non-smokers who have opted for a sum assured over Rs.50 lakh.
    • Premiums can be paid through annual or semi-annual modes.
    • The policy can be purchased online without going through any agents.

    LIC Amulya Jeevan II Plan

    The Amulya Jeevan II Plan from Life Insurance Corporation of India (LIC) is a protection plan that will safeguard the lives of one’s dependents financially, if something untoward happens to the policyholder.

    Key Features of LIC Amulya Jeevan II Plan

    • In case of the policyholder’s death, the full sum assured will be paid as the death benefit.
    • Policy buyers can choose an optimum policy tenure between 5 and 35 years.
    • The minimum age at entry is 18 years, whereas the maximum age at entry is restricted to 60 years.
    • One can enjoy the protection accorded by this plan until one attains 70 years of age.
    • Premiums can be paid on an annual or bi-annual basis.

    In conclusion, there are several insurance plans that you can purchase for a high sum assured. However, ensure that you take your financial goals and family’s needs into consideration and opt for a plan that best suits your requirements.