₹1 Crore Term Insurance Premium

Quick Overview

₹1 crore term insurance premium is the amount you pay to keep a ₹1 crore life cover active for a chosen policy term. If the policyholder passes away during the policy tenure, the insurer pays ₹1 crore to the nominee as a death benefit.

It’s important to understand that there is no “₹1 crore plan.” Term insurance plans are flexible; you choose the sum assured based on your eligibility and financial needs. The term insurance premium for ₹1 crore is calculated based on risk, not on returns or savings. Once issued, the premium stays fixed throughout the policy term.

If you’re evaluating term insurance, one of the first questions you’ll ask is, “What is the ₹1 crore term insurance premium?” The answer isn’t a single number. It depends on your age, health, lifestyle, and policy term.

Just as important is whether ₹1 crore is actually enough. For some, it works as a starting point. For others with loans or dependents, it may fall short. The good news is that term insurance is affordable, and even a ₹1 crore cover can cost less than a weekend trip if bought early.

This article explains how the premium is calculated, what affects it, and how you can reduce the cost without compromising on protection.

Factors Affecting ₹1 Crore Term Insurance Premium

Age

Age has the biggest impact on your premium. The younger you buy, the lower the cost. For example, under Axis Max Life Smart Term Plan Plus, a healthy non-smoking 25-year-old can pay around ₹10,700–₹11,000 per year for a ₹1 crore cover, while a 40-year-old may pay ₹23,000–₹24,000 per year for the same coverage. Buying early allows you to lock in lower premiums for decades.

Income

Income doesn’t raise your premium, but it determines eligibility. Most insurers require an annual income of ₹5 lakh or more to offer a ₹1 crore cover. This income check happens only at the time of purchase. If you later switch jobs, start a business, or retire early, it does not affect your policy as long as you continue paying premiums.

Medical History

Health conditions like diabetes, hypertension, or past surgeries can increase premiums after the required medical tests. While ₹1 crore is often considered a basic or entry-level cover today, insurers still conduct detailed underwriting at this level to assess long-term risk accurately. Full and accurate disclosure is critical to avoid issues during claim settlement.

Lifestyle Habits

Smoking, tobacco, or heavy alcohol use significantly increases premiums. For instance, under Axis Max Life Smart Term Plan Plus, a healthy 25-year-old non-smoker may pay around ₹10,700–₹11,000 per year for a ₹1 crore cover, while a 25-year-old smoker can pay ₹17,000–₹20,000 or more for the same policy. This 50–100% jump reflects the higher long-term health risk associated with smoking.

Occupation Risk

High-risk jobs such as mining, aviation, or construction attract higher premiums due to increased accident risk.

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₹1 Crore Term Insurance Premium by Age

Age	ABSLI (Male)	ABSLI (Female)	Axis Max Life (Male)	Axis Max Life (Female)	HDFC Life (Male)	HDFC Life (Female)	Bajaj Life (Male)	Bajaj Life (Female)	ICICI Pru (Male)	ICICI Pru (Female)
25	₹11,700	₹9,996	₹10,773	₹9,158	₹11,954	₹10,161	₹10,020	₹9,808	₹10,480	₹8,909
30	₹13,900	₹11,466	₹13,581	₹11,544	₹14,576	₹12,390	₹12,630	₹10,411	₹12,968	₹11,023
35	₹18,000	₹13,720	₹17,740	₹15,079	₹20,176	₹17,150	₹16,070	₹13,491	₹17,650	₹15,003
40	₹23,800	₹17,640	₹23,608	₹20,067	₹25,272	₹21,481	₹21,907	₹16,815	₹23,866	₹20,286

Note: Premiums are indicative and calculated for a non-smoking male opting for a ₹1 crore sum assured, with coverage up to age 70 and no riders or first-year discounts. Actual premiums may vary based on medical history, occupation, and insurer underwriting.

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Ditto’s Take

The ₹1 crore term insurance premium is far more affordable than most people assume, especially when the policy is purchased early and structured to match your actual needs. Factors such as age, health, lifestyle habits, and policy tenure play a decisive role in determining the cost. When these are optimized correctly, it’s possible to secure a high level of financial protection without putting pressure on your monthly budget.

Rather than relying on rough estimates or generic premium figures, understanding how insurers calculate premiums allows you to choose the right cover with confidence. This clarity helps you make a well-informed, long-term decision that aligns with your financial responsibilities and future goals.

Disclaimer

Our rankings here reflect an objective view of the numbers insurers report to IRDAI, combined into a simple 5-point score so you can compare them easily. Partner or not, every insurer on this list is evaluated using the same criteria, which is why you’ll see a mix of both, including partners such as Axis Max Life, HDFC Life, and ICICI Prudential, as well as non-partner insurers like Aditya Birla Sun Life.

For more details on how we approach reviews and partnerships, you can refer to our Editorial Policy & Disclaimers.

And as always, remember that this list is based on publicly available information and is not personalized advice. Please review the policy brochure carefully and speak with a licensed advisor before choosing a plan.

Frequently Asked Questions

Do I need medical tests for a ₹1 crore term insurance plan?

In most cases, yes. For covers like ₹1 crore, insurers usually ask for medical tests to assess risk accurately. These tests are standard, often cashless, and typically arranged by the insurer at no extra cost to you.

Is the ₹1 crore term insurance premium different for women?

Often, yes. Women generally pay slightly lower premiums than men due to longer life expectancy. However, the actual difference depends on the insurer, age, health profile, and lifestyle factors. The premium table above shows how this varies across insurers.

What if I make a mistake while filling out my term insurance application?

Accuracy is critical. Insurers can question or deny claims if there is a misstatement or non-disclosure of material facts, especially within the first three years of the policy, as per Section 45 of the Insurance Act. If you’re unsure about any detail, it’s best to disclose it fully or check with your advisor before submitting the application.

Can I increase my life cover later if ₹1 crore is not enough?

Yes. You can either buy an additional term insurance policy later or use life-stage benefits offered by some plans. However, premiums for additional cover will depend on your age and health at that time.

Is it better to buy one ₹1 crore policy or multiple smaller policies?

Both approaches work. Multiple policies can offer flexibility across life stages, while a single policy is simpler to manage. The right choice depends on your income growth, liabilities, and long-term planning.

What is the grace period, lapse, and revival process in term insurance?

Term insurance policies have a grace period of 15 days for monthly payments and 30 days for annual payments, during which coverage continues. If premiums remain unpaid after this, the policy lapses and cover stops. A lapsed policy can be revived within 5 years, but approval is not guaranteed and may require fresh medical tests and documents.

Last updated on: 3 Feb, 2026