• Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

What is ₹ 1 Crore Term Insurance?

What is ₹ 1 Crore Term Insurance premium plan? One Crore term insurance policy offers a sum assured of ₹ 1 Crore to the nominee in case something happens to the insured individual.

1.5 Crore Term Insurance2 Crore Term Insurance3 Crore Term Insurance5 Crore Term Insurance

To delay is to regret

You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.

Life cover of 1 Crore @ Rs.26/day***

Term Insurance


We respect our customers' privacy and do not spam them.

I authorize HDFC Life and its representatives to contact me through Call, Email, SMS or WhatsApp. This consent overrides my registration under DNC / NDNC (this would mean we would contact you even if you are registered on any Do Not Disturb list).

Term Insurance

1 Crore Term Plan - Is this Sufficient for You?

1 Crore Term Plan - Is this Sufficient for You?
February 28, 2023

Term insurance plans come as a huge financial safety net for a family in times of need, such as financial hiccups or the demise of the breadwinner. However, how big an amount should you take to secure your family? In one of our previous articles, we told you how having a second insurance policy or a critical illness policy can help. However, considering the rising cost of livelihood in the cities, buying an insurance policy with a coverage of Rs 1 crore becomes as important.

What Is 1 Crore Term Insurance?

1 crore term insurance policy offers a sum assured of 1 crore to the nominee in case something happens to the insured individual. These policies offer a high sum assured to help family members deal with the financial repercussions of loss.

So, should you invest in a Rs1 crore term plan?

Yes, you should because it will not be a big task as an average salary earner to protect you family after your demise.

Understand How a 1 Crore Term Insurance Plan Works

Every good financial portfolio has a term insurance policy. These insurance plans offer life coverage for a specific tenure. Let’s look at how a Rs 1 crore term insurance policy works:

  • A Rs 1 crore term policy provides life coverage with a sum assured of Rs 1 crore for a fixed period called a ‘term’. Assume a 25-year-old purchases a Rs 1 crore policy for 35 years.
  • Every year, they pay a fixed premium to keep their policy going. These premiums are often very affordable and do not change over the policy term.
  • The policyholder meets with a fatal accident at the age of 40, 15 years into the policy. Their nominee can file a claim with the insurance company. After completing the paperwork, the insurer will provide the payout of the sum assured, Rs 1 crore, to the beneficiary.

Looking to buy a new Term Plan? Wait…


₹ 1 Crore

Term Plan Today starting @ ₹ 768/month*

  • Claim Settlement Ratio of 99.39%*
  • Save more with 5% Discount*

T&C Apply

Why Buy a Rs 1 Crore Term Insurance Plan?

Here’s how an Rs 1 crore term insurance plan can benefit you:

  1. High Coverage at Affordable Premiums

    Term policies offer incredibly pocket-friendly premiums. You can gain life coverage of Rs 1 crore for less than Rs 900 per month#. The premiums will remain the same through the policy tenure, ensuring you don’t have to worry about sudden financial stress.

  2. Debt-Free Legacy

    When you purchase a term insurance plan, you help secure your family’s finances. In case something happens to you, your loved ones are left behind to deal with any debt you might leave behind. The payout from your Rs. 1 crore term policy allows them to clear any pending debt. You can ensure that you leave your family a debt-free legacy.

  3. Enhanced Coverage

    You can enhance your Rs. 1 crore term policy with riders like critical illness cover and accidental death benefit. These add-ons provide more financial security for you and your loved ones.

Who Should Opt for Rs. 1 Crore Term Plan?

If you are in the age group of 30-35 years and have more earning years, or if you are the only earning member of the family, a Rs 1 crore term insurance plan will be beneficial for your family after your death.

Several insurers offer term insurance plans with a cover of Rs 1 crore. Earlier the premiums would keep fluctuating based on what the others are charging. With IRDA's new regulations, insurance companies have reduced the premium rates. When comparing various insurers, do a due check of the underwriting norms as many insurers give lower premiums with stringent rules.

Selection of 1 crore term insurance policy can be a tough ask.

You have to pay attention to:

  1. The benefits
  2. Inclusions and exclusions mentioned on the policy document
  3. Premium rate
  4. Opt what is good for you and your family's future
  5. Check on the riders and the claim settlement ratio

Opt for a term insurance plan that offers comprehensive security at an affordable price. Ensure that your family is safeguarded financially if an unexpected eventuality occurs.

Similar Articles

Show Full Article
Hide Full Article

ARN: ED/03/23/1387

Talk to an Advisor right away

Not sure which insurance to buy?

Talk to an
Advisor right away

Talk to an Advisor right away

We help you to choose best insurance plan based on your needs

***Online Premium for Life Option, Male Life Assured, Non-Smoker, 25 years of age. Policy term of 30 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable (Annualized Premium of 9214/365-25.7)

##Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2021-22.

#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved

^ Available under Life & Life Plus plan options

^^ The names of the people used are examples only