What is the Best 2 Crore Term Insurance Plan?

A ₹2 crore term insurance plan offers your nominee a ₹2 crore payout if you pass away during the policy term. It’s designed to replace your income, clear debts, and support long-term goals like education, marriage, or retirement.

While it offers twice the coverage of a ₹1 crore plan—often for just a little more premium—it’s not a one-size-fits-all solution. Don’t choose it just because it sounds safe; choose it because it fits your actual needs, based on your income, liabilities, dependents, and future goals.

A ₹2 crore term insurance plan is more than just a big number—it’s a promise to protect your family’s future if life takes an unexpected turn. Term insurance acts like a financial shield, ensuring your loved ones can manage expenses like home loans, education, and daily living even in your absence.

But here’s the catch—many people blindly pick round numbers like ₹2 crore because they sound safe. In reality, the right coverage depends on your income, liabilities, and your family’s future needs. While ₹2 crore is a popular benchmark today (just like ₹1 crore was a decade ago), it might be too much for some or too little for others.

That’s why it’s important not to guess, but to calculate. The goal is simple: not to overpay for extra cover you don’t need, and definitely not to leave your family underprotected.

₹2 Crore Term Insurance Plan: Overview

Table of the Top ₹2 Crore Term Insurance Plans

Who Needs a ₹2 Crore Term Insurance Plan?

A ₹2 crore term plan suits those with significant financial responsibilities, but it’s not always a one-size-fits-all solution. For example, a 35-year-old earning ₹15 LPA with a home loan and two kids may find this cover enough to manage income replacement, debt repayment, and future expenses like education. However, in edge cases—like someone with multiple loans, higher lifestyle costs, or more dependents—even ₹2 crore might fall short. It’s important to assess your unique liabilities and goals before deciding. Your cover should reflect your real financial needs, not just a big number.

A common way to estimate this is by using an age-based income multiplier, as shown below:

So, a 30-year-old earning ₹15 LPA may need around ₹3.75 crore in coverage (15 × 25), not just ₹2 crore. Use this as a baseline and adjust for your liabilities, lifestyle, and family goals.

Should You Buy A ₹2 Crore Term Insurance Plan?

Buying a ₹2 crore term insurance plan can be a smart financial move—but only if it aligns with your real-world responsibilities and future goals. This cover can help secure your family’s lifestyle, repay outstanding loans, and take care of long-term needs like your children’s education.

But don’t fall for a round figure just because it sounds good. Instead, evaluate your situation carefully. Here’s what to consider:

• Age: Younger individuals often need higher multiples of income to account for longer earning gaps.
• Annual Income: Use an age-based income multiplier (e.g., 25× for ages 18–35) to estimate ideal coverage.
• Existing Liabilities: Factor in loans, EMIs, and other financial obligations.
• Number of Dependents: More dependents = higher protection required.
• Inflation & Future Goals: Account for rising costs of living, education, and healthcare over time.

Before you apply, make sure you meet the basic eligibility criteria. Here’s a quick overview:

Use this as a guide to determine if you’re eligible—and whether ₹2 crore is the right number for you. Most importantly, buy what fits your real needs, not just a nice round figure.

After you figure out your eligibility, you can use this term insurance calculator to determine the right coverage for you.

In short, buy what matches your real needs, not just a round figure.

Key Benefits of a ₹2 Crore Term Insurance Plan

Apart from tax benefits, here’s a quick look at why a ₹2 crore term insurance plan can be a smart choice for securing your family’s future with a stronger financial shield and added peace of mind:

• Comprehensive Financial Security: A ₹2 crore term plan offers a robust safety net—supporting your family’s lifestyle, repaying loans, covering medical and educational costs, and shielding them from inflation and unexpected expenses. It not only ensures future financial stability but also helps you leave behind a meaningful legacy.
• Affordable Premiums for Higher Cover: Some say that ₹2 crore is the new ₹1 crore—what ₹1 crore meant a decade ago in terms of financial security, ₹2 crore represents today, thanks to rising incomes, inflation, and evolving lifestyle needs. Usually, the premium increase compared to lower cover plans is marginal, especially if you buy early, making it a cost-effective way to secure greater protection.

With these benefits, a ₹2 crore term insurance plan offers comprehensive protection that goes beyond basic coverage, helping you prepare better for life’s uncertainties.

How to Choose a ₹2 Crore Term Insurance Plan?

When choosing a ₹2 crore term insurance plan, it’s crucial to consider more than just the premium. Your age, income, liabilities, financial goals, and the insurer’s claim track record and features all play a key role in finding the right policy.

• Metrics of Insurer: Check the insurer’s reliability through metrics like Claim Settlement Ratio (CSR), Amount Settlement Ratio (ASR), Solvency Ratio, and Complaint Volume. These indicators reveal how well the insurer handles claims and customer service—critical when you need support the most.
• Age, Income, Liabilities, Inflation, and Financial Goals: Your coverage should reflect your personal situation. Younger people may start with lower cover, while those with family, loans, or other financial responsibilities often need higher protection. Consider rising inflation, which can erode the value of your sum assured over time, making a realistic and adequate cover essential.
• Riders and Add-Ons: Look for useful riders like Critical Illness Cover, Accidental Death Benefit, Total Permanent Disability, and Waiver of Premium. These add-ons enhance your plan’s protection, helping you stay financially secure in a variety of situations.
• Premium Comparison:
  Profile: This is a 2 crore term insurance cover for a 30-year-old male non-smoking salaried individual, with coverage lasting until 60 years.

Note: Base Premiums listed here are only indicative and are subject to change based on periodic revision and the life assured’s profile and medical history, amongst other things. No riders, which often involve additional costs, have been added. This includes online and salaried discounts, as well as GST.

What are the Best ₹2 Crore Term Insurance Plans (2025)?

1) HDFC LIFE Click 2 Protect Super:

HDFC Life Click2Protect Super is a comprehensive term insurance plan that stands out for its high customizability and strong claim settlement track record, though it tends to be relatively expensive for many profiles. The plan boasts a Claim Settlement Ratio of 99.2% and an exceptionally low complaints ratio of just 2 per 10,000 claims, indicating reliable service. It offers useful add-ons like accidental death benefits, waiver of premium on disability and critical illness, total permanent disability cover, and even the option to increase cover in line with inflation. 

A notable in-built feature is the zero-cost option, which allows you to exit the policy during a specified window and get your premiums refunded. While the critical illness benefit covers 60 illnesses and includes a shorter-than-average waiting period of 90 days, it comes with a 15-day survival clause and only pays on top of the base cover, not as an accelerated payout. The terminal illness benefit offers partial payouts, and while the plan includes the return of premium and top-up options, these are either costly or limited to life events like marriage or childbirth. Overall, it's a solid plan from a reputable insurer, but not the most budget-friendly choice out there.

2) ICICI Prudential iProtect Smart:

ICICI Prudential iProtect Smart is a well-rounded term insurance plan that balances affordability and features well, especially for salaried individuals and smokers. It offers competitive premiums, a decent claim settlement ratio of 97.52%, and a solid amount settlement ratio of 95.1%, with fewer complaints than the industry average, making it a fairly reliable option. One of its standout features is the Life Stage Benefit, which lets you increase your coverage after major milestones like marriage or childbirth. It also includes useful in-built features like a Zero Cost Option, allowing you to exit the policy during a specific window and get your premiums back, and a terminal illness benefit that pays out the full cover upon diagnosis. 

The plan allows for an accidental death benefit add-on and offers critical illness coverage for 34 illnesses, with immediate payouts upon diagnosis, though the benefit is paid from the base cover (accelerated payout) and has a longer-than-average 180-day waiting period. The waiver of premium is only triggered upon permanent disability due to an accident, and while there's no inflation-linked top-up or payout for total permanent disability, the plan still holds strong for those looking for decent coverage at a fair price. It’s especially appealing if you want basic protection with a few thoughtful add-ons without breaking the bank.

3) Axis Max Life Insurance Smart Term Plan Plus:

The Axis Max Life Smart Term Plan Plus is a flexible term insurance plan that offers six different coverage options, but the "Regular (Level Cover)" and "Smart Cover" variants are the real standouts. The Regular option is a simple, no-frills plan, while the Smart Cover gives you 1.5X coverage for the first 15 years—ideal if you want extra protection during your high-responsibility years. The plan comes packed with essential add-ons like accidental death benefit, critical illness cover (covering 64 illnesses), waiver of premium on disability or critical illness, and even a zero-cost exit option that refunds your premiums if you exit during a specified period. Women also get access to thoughtful perks like Lifeline Plus and Maternity Cover in one of the best term insurance plan with a ₹2 crore cover. That said, the plan doesn’t allow you to top-up your coverage later or link your coverage to inflation, which can be a drawback if you’re looking for long-term adaptability. Still, for most people, it’s a well-rounded and customizable option that ticks a lot of boxes.

4) Bajaj Allianz Life eTouch II:

Bajaj Allianz Life eTouch II is a well-rounded term insurance plan that offers affordability, strong claims performance, and solid rider benefits. It includes a Zero Cost Option, so you can walk away with your premiums refunded if you exit at a certain point. There’s also a waiver of premium for permanent disability due to accidents and a life-stage benefit that lets you increase coverage after major milestones like marriage or childbirth. Its critical illness rider covers up to 60 conditions, pays out on top of the base sum insured, and comes with a relatively short 90-day waiting period and a 14-day survival clause—quicker than many in the market. Women and non-smokers also enjoy highly competitive pricing. Bajaj Allianz’s claim settlement (99.11%), low complaint ratio (4.4 per 10,000 claims), and amount settlement ratio (93.5%) are all impressive, especially when compared to industry averages. That said, there are a few misses—you don’t get the option to link your cover to inflation, and there’s no lump sum payout for total permanent disability. But overall, if you’re looking for a plan that balances price, features, and reliability, eTouch II is a pretty compelling pick.

5) TATA AIA Sampoorna Raksha Promise:

The TATA AIA Sampoorna Raksha Promise is a solid pick if you're looking for a highly customizable and reasonably priced term plan. It’s especially great for people with lower annual incomes who still want substantial coverage. The plan comes with strong claim metrics—boasting a 98.9% claim settlement ratio, a low complaints ratio of just 3 per 10,000 claims, and an impressive 95.1% amount settlement ratio. It also offers useful add-ons like critical illness cover, which pays out a lump sum on top of your term cover if you’re diagnosed with any of the 40 listed illnesses. The accidental death and total permanent disability benefits add an extra layer of protection, and you also get a waiver of premium if you're ever critically ill or permanently disabled.

There are a few nice built-in features, too, like the life stage benefit, which lets you increase your coverage after big life events, and a partial terminal illness payout. That said, it does fall short on a couple of fronts. There's no zero-cost option in the non-ROP variant, which some other plans offer, and you can’t increase your coverage automatically with inflation. But these aren’t major deal-breakers for most people. Overall, if you're after a dependable term plan with solid features and strong claim performance, this one is definitely worth considering.

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Conclusion

A ₹2 crore term insurance plan can offer a powerful financial safety net for you and your loved ones, if chosen wisely. By considering your unique needs, insurer reliability, and valuable add-ons, you ensure that your family stays protected against life’s uncertainties without overpaying. Remember, the right cover is about thoughtful planning, not just big numbers.

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