What is the Best Term Insurance Plan for 1 crore?

A ₹1 crore term insurance plan has become the gold standard for life cover in India, thanks to its psychological appeal and that “Kaun Banega Crorepati” ring to it. Enough to cover major expenses, from home loans to children's education, it is the balanced sum that promises your family an effective safety net. No wonder it’s one of the most searched terms online. If you’re exploring the best term insurance plan for 1 crore coverage, here’s a quick comparison to help you choose wisely.

1 Crore Term Insurance Plan	Coverage and Riders
Axis Max Life Insurance Smart Term Plan Plus	Accidental Death Benefit, Critical Illness Cover (upto 64 illnesses), Regular or Smart Cover (1.5X coverage for first 15 years), Women's Perks (Lifeline Plus & Maternity Cover), Waiver of Premium on Disability or Critical Illness, Zero-Cost Exit Option, Terminal Illness Benefit
ICICI Prudential iProtect Smart	Accidental Death Benefits, Life Stage Benefit (increased coverage after milestones like marriage/childbirth), Terminal Illness Payout, Accelerated Critical Illness Cover (34 illnesses), Zero Cost Option, Waiver of Premium on Permanent Disability
HDFC LIFE Click 2 Protect Super	Accidental Death Benefits, Disability & Critical Illness Premium Waiver, Total Permanent Disability, Inflation-linked cover, Critical Illness Cover (60 illnesses, 90-day waiting period), Terminal Illness Benefit, Life Stage Increase Option.
Bajaj Allianz Life eTouch II	Accidental Death Benefits, Life Stage Benefit (increased coverage after marriage/childbirth), Critical Illness Coverage (60 illnesses), Terminal Illness cover, Waiver of Premium on Accidental Total & Permanent Disability, Zero Cost Option
TATA AIA Sampoorna Raksha Promise	Accidental Death Benefit, Critical Illness Coverage (40 illnesses), Total Permanent Disability, Waiver of Premium on Critical Illness/Permanent Disability, Life Stage Benefit, Partial Terminal Illness Payout

If you need help choosing the right policy, feel free to chat with us on WhatsApp or book a free call at a convenient time. No spam — just honest insurance advice.

Who Needs a ₹1 Crore Term Plan?

A ₹1 crore term insurance plan isn’t just for high earners—it’s for anyone with financial responsibilities. While ₹1 crore may be enough for some, it might fall short for others depending on their circumstances. 

For example, a 25-year-old earning ₹5 LPA with no major loans or dependents might find ₹1 crore sufficient—it covers 20x his income, a solid benchmark early on. Plus, since premiums stay low if you start young, even those with modest incomes can afford it. As his income and eligibility grow, he can always increase his sum assured or buy an additional term plan.

Meanwhile, a 35-year-old woman supporting aging parents, two kids, and repaying a home loan may find ₹1 crore less adequate. Ultimately, the right cover depends on your age, income, liabilities, and dependents—there’s no one-size-fits-all.

Key Benefits of ₹1 Cr Coverage

A ₹1 crore term insurance plan offers significant advantages beyond just financial protection. Here’s why it’s a smart choice for many:

1. Affordable Large Cover: Provides a substantial sum assured at relatively low premiums, especially when purchased at a younger age.
2. Tax Saving Benefits: Premiums paid qualify for deductions under Section 80C (Old Tax Regime), reducing your taxable income. The death benefit received by nominees is exempt from tax under Section 10(10D), ensuring full financial support reaches your loved ones.
3. Legacy Planning: Helps create a secure financial legacy by ensuring your family is financially protected even after you’re gone.
4. Future Security: Supports your family’s future needs, including lifestyle maintenance, debt repayment, medical treatment costs, and long-term goals like education and marriage.

With these benefits, a ₹1 crore term insurance plan is not just protection; it’s a comprehensive financial tool that supports your present and future planning.

Factors to Consider Before Choosing a Plan

When buying the best term insurance plan for 1 crore coverage, it’s important to look beyond just the premium. Your age, income, liabilities, financial goals, and the insurer’s claim track record and plan features—all play a role in finding the right fit.

1. Metrics of Insurer: Before choosing a term plan, it’s important to assess the insurer’s reliability, not just the policy features. Metrics like Claim Settlement Ratio (CSR) show how often the insurer pays out claims, while the Amount Settlement Ratio (ASR) tells you whether the insurer is treating low and high value claims equally. The Solvency Ratio reflects the company’s financial health (IRDAI requires at least 1.5), and Complaint Volume gives a peek into customer experience and service quality. These indicators can help you gauge if the insurer will show up when it truly matters.
2. Age, income, liabilities, inflation, financial goals: Your ideal term insurance cover isn’t just about picking a round number like ₹1 crore—it should reflect your age, income, liabilities, future goals, and the rising cost of living. Younger individuals might need a lower cover initially, while older individuals with family, loans, or financial commitments may need more. Your income influences how much premium you can afford and how much cover you will be eligible for, and liabilities like home loans or dependents demand higher protection. Add inflation to the mix, and what seems like a large sum today might not be enough tomorrow. This is why it is important to make a realistic estimate that can keep your loved ones financially secure in your absence.
3. Premium comparison: Let’s use a table to note the difference in base premiums of some leading term insurers’ flagship plans:

Premium Comparison of Top Term Insurance Plans

Profile: This is a ₹1 crore term insurance cover for a 30-year-old male non-smoking salaried individual, with coverage lasting until 60 years.

Plan	Base Premium for the 1st Year	Base Premium 2nd Year Onwards
HDFC Click 2 Protect Super	13,499	14,210
ICICI Prudential iProtect Smart	11,414	12,682
Axis Max Life Insurance Smart Term Plan Plus	10,326	12,148

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, along with GST.

1. Rider comparison: When choosing the best term insurance plan for 1 crore coverage, it’s worth checking if your preferred insurer offers important riders that can enhance your coverage. A Critical Illness Rider provides a lump sum payout on diagnosis of serious illnesses like cancer or heart disease. The Accidental Death Benefit Rider offers an additional payout if death occurs due to an accident, while the Accidental Total and Permanent Disability Rider ensures a payout if you’re permanently disabled and can’t earn any more. Lastly, the Waiver of Premium Rider ensures your policy stays active without future premiums if you're unable to pay due to a disability or critical illness. These add-ons can significantly boost your protection—we’ll explore them in detail in one of the upcoming sections.

Ditto’s Take: Look out for additional innovative features like the Life Stage Benefit, Instant Payout on Claim Intimation, Cover Continuation Benefit, etc.

Types of Premium Payment Options

When buying a term insurance plan, you can choose how you want to pay your premiums—this flexibility helps tailor the policy to your financial comfort. There are three main types of premium payment options:

1. Regular Pay: You pay premiums throughout the entire policy term. It’s ideal for salaried individuals with steady incomes. Overall, on paper, you end up paying more, but when taking into account inflation and the time value of money, this is financially beneficial.
2. Limited Pay: You pay premiums only for a limited number of years, but the coverage continues for the full term. This suits people who want to finish payments early, say before retirement. Ideal for self-employed folks who don’t have steady cash flows or for someone who plans on retiring early. This option purely makes sense from a convenience point of view.
3. Single Pay: A one-time lump sum premium at the start of the policy. It’s useful for those with surplus funds and who want to avoid future payment commitments.

You can also choose the frequency of Regular Pay and Limited Pay options—monthly, quarterly, half-yearly, or annually—depending on your cash flow and budgeting preferences. Some insurers even offer discounts for annual payments.

Claim Payout Options

The best term insurance plan with a 1 crore coverage offers different claim payout options to suit your family’s financial needs after you’re gone. The most common option is a lump sum payout, where the entire sum assured is paid out in one go, helping beneficiaries cover immediate expenses like loans, daily living costs, or future goals.

Another option is a monthly income payout, where the sum assured is paid as a regular monthly income over a specified period, providing steady financial support. Some plans offer a hybrid payout, combining both lump sum and monthly income, giving your family a mix of immediate funds and ongoing financial security. Choosing the right payout option depends on your family’s financial situation and long-term needs.

Best ₹1 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 reputed 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 seven 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 ₹1 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 Sampoora 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, 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.

Riders That Enhance Cover

Buying a ₹1 crore term insurance plan is a solid foundation for financial protection, but adding riders can transform it into a comprehensive safety net. Think of riders as power-ups for your policy—small additions that provide crucial support during unexpected life challenges. Here are three key riders to consider:

Waiver of Premium Rider- If you face permanent disability or a critical illness, this rider waives all future premiums while keeping your term insurance plan active. This ensures your coverage continues even if you can’t pay premiums due to loss of income, protecting your family no matter what.

Accidental Total and Permanent Disability (ATPD) Rider- This add-on provides financial support if you suffer a permanent disability from an accident that prevents you from working. It offers a lump sum or monthly payout , helping cover medical bills, daily living costs, and income loss, offering peace of mind for long-term financial stability.

Critical Illness Rider- This rider pays a lump sum if you’re diagnosed with a serious illness like cancer, heart disease, kidney failure, or stroke (as defined in the policy). Major illnesses can drain savings due to costly treatments and long recovery times. While this rider helps replace lost income, it’s important to remember that health insurance is still needed to cover actual medical expenses.

These riders aren’t mandatory, but they complete your protection by preparing you for tough times when you’re still around but financially vulnerable. Plus, they’re usually affordable add-ons, giving you enhanced coverage without a big jump in premiums. Choosing the right riders could make all the difference when it matters most.

Exclusions and Claim Process

Not every death is covered under a term insurance plan, so it’s crucial to understand the fine print of the best term insurance plan for 1 crore. Common exclusions include suicide within the first policy year, substance abuse, criminal activity (insured involvement), or undisclosed pre-existing illnesses. Even self-inflicted injuries and deaths linked to war or terrorism may be excluded, depending on the policy terms. And if the nominee is under investigation in a homicide case, the claim will be put on hold until they're cleared.

When filing a claim, your nominee should inform the insurer at the earliest, fill out the claim form, and submit key documents—proof of identity, death certificate, and cause of death reports (especially in accidental or unnatural deaths). Knowing what’s covered and what’s not can help your family avoid unpleasant surprises. We'll cover the claim process in more detail later, but honest disclosure and good documentation go a long way in ensuring smooth payouts.

Ditto’s Take

A ₹1 Crore cover might sound like more than enough today, but the truth is, the “right” term insurance amount is deeply personal. It depends on your age, income, lifestyle, existing liabilities, future goals, and even inflation. Remember, term insurance is about securing your family’s future, not just the present, and the value of money reduces over time. So, instead of picking a random number, use Ditto’s term insurance coverage calculator to find the ideal cover for you. It’s quick, free, and if you ever feel stuck, you can always talk to an expert, with or without Ditto.

Buy the Right Term Insurance Through Ditto

At Ditto, we’ve assisted over 3,00,000 customers with choosing the right insurance policy. Why customers like Tharun below love us:

✅No-Spam & No Salesmen

✅Rated 4.9/5 on Google Reviews by 5000+ to 9000+ happy customers

✅Backed by Zerodha

✅100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now!

Conclusion

The best term insurance plan for 1 crore coverage is more than just a Google-friendly phrase—it’s a financial safety net that can protect your loved ones when they need it most. Whether you're just starting out or have growing responsibilities, the right plan balances affordability, coverage, and features like riders and flexible payouts. Compare policies carefully, consider your unique needs, and don’t forget to review key insurer metrics. And if you’re unsure, tools like Ditto’s cover calculator or plan comparison platform can make your decision a whole lot easier.

FAQ's