Best Term Insurance Plan for ₹10 Crore in India
A ₹10 crore term insurance policy appeals to individuals whose financial responsibilities have expanded well beyond what a ₹3–5 crore policy can adequately cover. As incomes rise alongside living costs, family aspirations, and substantial debt obligations, a more robust safety net becomes essential to secure your family's financial well-being. This level of coverage ensures your dependents can maintain their standard of living, clear outstanding debts, and achieve financial security without facing monetary stress.
In this guide, you’ll find everything you need to know about ₹10 crore term insurance: how it works, who it suits, and which insurers you can consider.
How Does a ₹10 Crore Term Insurance Plan Work?
A ₹10 crore term insurance plan works just like any standard term policy. You pay the premiums, and your nominee receives the full ₹10 crore if you pass away during the policy term. If you need a refresher on how term insurance works, you can read our complete term insurance guide.
What changes with a high-value cover is the underwriting. Insurers examine your income, job profile, lifestyle, and medical history more closely, and may even take reinsurer approval before issuing the policy. This ensures the large cover is financially justified and sustainable.
Popular Insurers Offering ₹10 Crore Term Insurance Plans (Ditto’s Cut)
Note: These plans score the highest on Ditto’s six-point evaluation framework and stand out for their overall quality and reliability.
Premiums of the Best Term Insurance Plans for ₹10 Crore in India
The annual premiums shown above (second-year onwards without discounts) are for 30, 40, and 50-year-old male non-smokers, with ₹10 crore cover till age 70, and no riders.
Key Insight: Premiums for a ₹10 crore cover increase noticeably with age, especially after 40, reflecting higher underwriting risk.
Premiums for Different Sum Assured Options
The premiums shown above (second year onwards without discounts) are for a 30-year-old male non-smoker, with cover till age 70 and no riders.
Key Insight: Premiums don’t rise in a straight line as the cover increases. A ₹10 crore plan isn’t double the cost of a ₹5 crore plan or four times the cost of a ₹2.5 crore plan, which makes larger covers more cost-efficient.
Who Should Buy a ₹10 Crore Term Insurance Plan?
You may need a ₹10 crore cover if you:
- Earn ₹40 lakh or more annually
- Have sizeable home loans, business loans, or long-term liabilities
- Support multiple dependents, such as a spouse, young children, or ageing parents
- Plan to fund your children’s foreign education
- You are a CXO, business owner, NRI, or a professional with a high-cost lifestyle
- Want to ensure your family never has to sell assets or compromise financially
Factors to Consider Before Buying the Best ₹10 Crore Term Plan
Your Annual Income
Your income must justify the cover. Insurers usually allow 20 to 25 times your annual income, and also subtract any existing life insurance from your maximum eligibility. Always declare all your current policies to avoid issues during underwriting.
Existing Liabilities
Large home loans, business loans, or future financial commitments like children’s education should guide how much cover you choose. Higher liabilities often call for a larger safety net.
Lifestyle and Future Expenses
Consider long-term costs such as healthcare, education, and rising living expenses. A cover calculator can help you estimate the right amount based on your goals and responsibilities.
Medical History and Habits
Smoking, pre-existing health conditions, or a family history of illness can affect both your premium and approval. High-value plans may require additional medical tests and closer scrutiny.
Insurer Reliability Metrics
Check the insurer’s Claim Settlement Ratio, Solvency Ratio, complaint numbers, settlement volume, and overall financial strength. For a ₹10 crore cover, choosing a large insurer with strong business volumes is more reliable.
Premium and Policy Costs
Your age, policy term, health profile, and rider choices all influence the premium. Since costs rise sharply with age, buying early helps secure long-term affordability.
Note: For high covers like ₹10 crore, it is safer to opt for large insurers with annual business of ₹10,000 crore or more. They handle big-ticket underwriting more efficiently and are better equipped to manage high-value claims.
Documents Required to Purchase a ₹10 Crore Term Insurance Plan
The documents required for a ₹10 crore policy are the same as any regular term plan. Here’s an overview:
Additional Requirements for a ₹10 Crore Cover
- More detailed income validation, which may include audited financials, Form 26AS, or additional bank statements (especially for self-employed applicants).
- Enhanced medical screening, such as ECG, TMT, lipid profile, HbA1c, liver function tests, and sometimes specialist evaluations.
- Repeat or follow-up medical tests if any initial results appear borderline.
- Occupation or business-related documents for applicants in high-risk professions or those with variable income.
- Reinsurer-related queries, if the cover exceeds the insurer’s internal underwriting limits.
Why Choose Ditto for Your Term Insurance?
At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Aaron love us:
- No Spam & No Salesmen
- Rated 4.9/5 on Google Reviews by 15,000+ 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!
Ditto’s Take on Best Term Insurance Plan for ₹10 Crore in India
Choosing a ₹10 crore term insurance plan can be a smart move for individuals with high incomes, sizable liabilities, and long-term financial responsibilities. It offers strong protection for families that rely heavily on a single income. However, it’s not suitable for everyone and the eligibility depends on your income, health profile, and financial situation.
High-value policies also need you to undergo more detailed underwriting, meaning approval may take longer, often around 2 to 4 weeks. Insurers usually review medical tests, documentation, and income proofs during this period. Selecting the right insurer and choosing riders that genuinely add value can make a big difference in the long run.
If you’re unsure about the ideal cover amount or want help comparing plans, Ditto’s advisors can guide you with simple, unbiased recommendations so you can choose confidently.
Frequently Asked Questions
Last updated on:
