You can explore and buy a high-value ₹10 crore term insurance plan online through insurance advisory platforms like Ditto, or insurers like Axis Max Life or HDFC Life.
Key Features of a ₹10 Crore Term Plan
Pure Protection: It is a risk-only cover that pays out ₹10 crore to nominees if the policyholder passes away during the policy term.
No Maturity Benefit: Standard term insurance plans pay nothing if you outlive the policy term, except for Return of Premium (ROP) plans, which are 60% to 100% costlier, and sometimes even more.
Affordable Pricing: Term plans remain affordable, especially if you buy early in life, depending on your age, health, and lifestyle choices.
Tax Advantages: Premiums qualify for a deduction under Section 123 (previously Section 80C) of the old regime, and the death benefit is tax-exempt under Section 11, Schedule II (previously Section 10(10D)).
Imagine you earn well, have a home loan, kids, and parents who depend on you. If you were gone tomorrow, would a ₹1 crore cover really keep that lifestyle going for 25 years? For many families, no. Yet India is still under-protected.
This is where ₹10 crore term insurance comes in. It is a pure protection plan that gives your family a large tax-friendly payout to clear debts, fund goals, and replace your income. The good news is that a high cover is cheaper than most people expect.
In this article, we will walk you through how a ₹10 crore plan works, the top insurers, sample premiums, who is eligible, what to check before buying, and whether you really need this much cover. We will also tell you when splitting the cover across two insurers makes sense.
There is no special "₹10 crore plan." It is any term plan offering a bigger sum assured. You choose ₹10 crore as your cover, pick a policy term (say, till age 65), and pay a fixed premium.
If the policyholder passes away during the term, their nominee receives ₹10 crore.
If they outlive the term, they get nothing back, unless they choose a Return of Premium (ROP) plan. At Ditto, we advise against ROP plans, which cost 60% to 100% more, and sometimes even more. Moreover, the money you get back at maturity has already lost its value due to inflation. Instead, it’s better to buy a standard term plan and invest the premium difference elsewhere.
Payout Options: You can take the money as a lump sum, as monthly income, or as a mix of both. Think of it this way. A sudden ₹10 crore can overwhelm a grieving family that has never managed so much money. A staggered option (lump sum plus income) can feel safer.
Top ₹10 Crore Term Insurance Plans in India
01
Axis Max Life Smart Term Plan Plus
Axis Max Life Smart Term Plan Plus offers flexible coverage options, including level cover, increasing protection through select variants, and return of premium benefits. It also includes terminal illness coverage under eligible variants, an option to defer premiums for up to 12 months, and additional critical illness and disability riders.
02
HDFC Life Click2Protect Supreme Plus
HDFC Life Click2Protect Supreme Plus offers comprehensive term coverage, with options to increase your death benefit over time or adjust it as your financial needs change. It also provides terminal illness benefits, optional accidental death coverage, and waiver of premiums for specified critical illnesses or disabilities. It is particularly suitable for individuals who expect their financial responsibilities to grow over time.
03
ICICI iProtect Smart Plus
ICICI iProtect Smart Plus combines life insurance with built-in terminal illness protection and optional coverage for accidental death and critical illnesses. It also lets you increase life cover at specified milestones and defer premium payments for one year, subject to conditions. This makes it a practical option for individuals seeking ₹10 crore coverage with additional protection against major health-related risks.
04
Bajaj Life eTouch II
Bajaj Life eTouch II offers three coverage variants, including basic life protection, additional accidental death benefits, and return of premium. Depending on the variant, policyholders can access features such as premium deferment, early exit benefits, and waiver of premiums following specified disabilities or terminal illness.
05
Aditya Birla Sun Life Super Term Plan
Aditya Birla Sun Life Super Term Plan offers three options: level cover, increasing cover, and level cover with return of premium. It also offers flexible death benefit payouts, allowing families to receive the claim amount as a lump sum or through periodic income payments, depending on the selected option.
Note: We selected the above term plans based on our detailed policy-rating framework, including features, insurer rating, and premiums.
Availability of ₹10 crore coverage under each plan depends on the insurer's underwriting assessment, including income, age, occupation, medical history, and existing insurance coverage. A plan offering ₹10 crore coverage does not guarantee approval for that amount.
₹10 Crore Term Insurance: Sample Premiums by Age
Here is the ₹10 crore term insurance premium (yearly) next to smaller covers, so you can see how the price changes as cover grows.
Profile
₹2.5 Crore
₹5 Crore
₹10 Crore
25, Male
₹21,528
₹39,655
₹79,310
25, Female
₹18,300
₹33,710
₹67,420
35, Male
₹32,693
₹63,035
₹1,26,070
35, Female
₹27,790
₹53,580
₹1,07,160
For this example, we’ve considered profiles of healthy, salaried, non-smoking individuals living in a tier-1 city like Delhi (pincode: 110010), covered until 65 under the Axis Max Life Smart Term Plan Plus. The premiums are indicative and vary based on your age, health conditions, lifestyle choices, chosen riders, and underwriting.
Ditto’s Key Takeaway: Bigger covers get a little cheaper per crore, but only up to a point. For a 25-year-old man, ₹2.5 crore costs about ₹8,611 per crore, while ₹5 crore and ₹10 crore both cost about ₹7,931 per crore. That is roughly 8% cheaper per crore. For a 35-year-old man, the saving is about 4%. So going from ₹5 crore to ₹10 crore roughly doubles the premium. In simple terms, you pay for what you add, so size your cover to your needs, not a discount.
₹10 Crore Term Insurance Eligibility & Documents Required
Insurers do not hand out ₹10 crore to everyone. They look at how much income your family would actually lose, so cover is tied to your annual income and age.
Age Band
Typical Income Multiplier
Annual Income Needed for ₹10 Crore
Up to 35
20x to 25x
About ₹40 lakh to ₹50 lakh
36 to 45
15x to 20x
About ₹50 lakh to ₹67 lakh
46 to 55
10x to 12x
About ₹83 lakh to ₹1 crore
A ₹10 crore cover often requires an annual income of roughly ₹40 lakh to ₹50 lakh or more for younger applicants. However, insurers don't follow a universal income multiple. Eligibility varies by age, occupation, income stability, existing life cover, and the insurer's underwriting rules, and older applicants typically qualify for lower multiples.
Documents Required for Term Insurance
Identity and address proof (PAN, Aadhaar)
Income Proof: ITR for the last 2 to 3 years, Form 16, salary slips, and bank statements. Self-employed buyers may also need audited financials
Medical reports, if the insurer asks for them
What Is Different for ₹10 Crore
For high-value applications, often around ₹5 crore and above, depending on the insurer and profile, the insurer may seek a reinsurer's underwriting opinion. This can slow the process.
That may also mean more back-and-forth and some additional documentation:
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
Occupation or business-related documents for applicants in high-risk professions or those with variable income
Factors to Consider Before Buying ₹10 Crore Term Insurance
Claim Reliability: Check the claim settlement ratio, but also look at the amount settlement ratio and complaint volume.
Health and Lifestyle: Smokers pay noticeably more (60% to 100%), and conditions like diabetes or high blood pressure can raise premiums.
Be Honest in Your Application: Hiding a habit or illness can lead to a claim rejection later.
Policy Term: At Ditto, we recommend buying a term plan till the age your financial responsibilities end. For most people, it’s 65-70 years, or when their youngest child turns 25.
Riders: Add riders only if you need them. At Ditto, we generally recommend Waiver of Premium and Critical Illness riders for everyone.
One ₹10 Crore Plan or Two ₹5 Crore Plans
Large insurers like HDFC Life, ICICI Prudential, Axis Max Life, and Bajaj Life handle huge business volumes, so ₹10 crore is not a big risk for them.
For most buyers, taking the full ₹10 crore from one strong insurer is simpler because there is one underwriting process, one policy to manage, and one claim process for the family. Splitting the cover into two ₹5 crore policies does not automatically improve approval chances, since each insurer considers your total existing and proposed life cover.
However, splitting may make sense if one insurer cannot approve the full amount, caps your eligibility, or you deliberately want different policy terms or structures. Always disclose all existing policies and ongoing applications.
Do You Need ₹10 Crore Term Insurance? Cover Sizing and Alternatives
You can calculate the total cover amount you need by using the expense and liabilities approach. Consider your current expenses, debts, financial obligations, and future responsibilities. Also factor in inflation, because the same amount today will not mean the same thing a few years down the road.
If the number lands near ₹10 crore, you may really need it.
For example, imagine you are 35, earn ₹60 lakh a year, spend around ₹2.2 lakh a month, and have a ₹1 crore home loan. Your family may need decades of income to cover that debt. A ₹10 crore cover can make sense here.
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Conclusion
A ₹10 crore term plan is worth it when your income, loans, and family needs truly add up to that number. Here is how to move ahead:
Calculate the cover amount that you need.
Compare premiums for ₹2.5, ₹5, and ₹10 crore.
Decide between one insurer or two ₹5 crore plans.
Gather income proofs and be ready for extra medical tests.
Apply early, because underwriting for large covers takes time.
Frequently Asked Questions
Is ₹10 crore term insurance realistic for most salaried people in India?
A ₹10 crore term insurance plan is usually relevant only when your income, liabilities, and family's future expenses justify that level of cover. Insurers use financial underwriting rather than a single industry-wide rule, and they also consider your age, occupation, income stability, and existing life cover. For younger high-income applicants, roughly ₹40–₹50 lakh or more of annual income can make ₹10 crore financially plausible, but approval and the final sum assured remain insurer-specific.
Can I split ₹10 crore term insurance across two insurers to improve approval chances?
You can split the cover, but it does not automatically improve your approval chances. Each insurer can consider your total existing and proposed life insurance and will run its own financial and medical underwriting. For most buyers, one ₹10 crore policy is simpler because there is one application, one policy, and one claim process. Consider two ₹5 crore policies only if one insurer cannot approve the full amount, caps your eligibility, or you deliberately want different policy terms. Disclose every existing and concurrent application.
Does ₹10 crore term insurance require a physical medical exam?
At ₹10 crore, a physical medical exam is very likely, but it is not a universal statutory rule. The insurer decides the medical requirements based on your age, health disclosures, lifestyle, occupation, and sum assured. Tests can include blood and urine panels, vitals, ECG, TMT, 2D Echo, or other investigations where required. High-value applications may also trigger follow-up tests if results are borderline. The exact medical grid varies by insurer, so do not assume every applicant will undergo the same tests.
How does the human life value method justify ₹10 crore term insurance for a high-income earner?
The Human Life Value (HLV) approach estimates the economic value of the income you would have contributed to your family over your remaining working years. Insurers may consider your age, annual income, occupation, income stability, dependents, liabilities, and existing life cover before deciding how much cover is financially justified. A high-income earner with a long earning runway and large obligations can therefore justify ₹10 crore more easily. However, an HLV calculation does not guarantee an insurer will approve the full amount.
Is the death benefit from ₹10 crore term insurance taxable for the nominee?
No. Under the Income-tax Act, 2025, which applies from 1 April 2026, a death benefit received under a life insurance policy is excluded from total income under Section 11 read with Schedule II, subject to the statutory wording. Separately, eligible life insurance premiums can qualify for the Section 123 deduction, corresponding to the old Section 80C, within the ₹1.5 lakh aggregate limit. That deduction is not available under the default new tax regime.
Can a business owner or self-employed professional get ₹10 crore term insurance?
Yes. Business owners and self-employed professionals can qualify for a ₹10 crore term insurance plan if their financial profile supports the cover. The insurer will usually look at stable, documented income rather than business turnover alone. Depending on the case, it may ask for ITRs, audited financial statements, income computations, bank statements, Form 26AS/AIS, or business documents. High-value cases can involve deeper financial underwriting and additional medical checks, so approval may take longer than for a smaller cover.
How much more does ₹10 crore term insurance cost for a smoker than for a non-smoker?
A ₹10 crore term insurance premium for a smoker can be materially higher than the premium for an otherwise identical non-smoker, but the loading varies by insurer, age, tobacco or nicotine use, health profile, and underwriting outcome. For example, a 25-year-old non-smoking male can get ₹10 crore coverage till 65 for ₹79,310, while a smoking male will have to pay ₹1,42,760. Always disclose tobacco, nicotine, and smoking history accurately in the proposal form.
How accurate is a ₹10 crore term insurance premium calculator?
A ₹10 crore term insurance premium calculator helps you get an indicative quote, not a guaranteed premium or approval. When comparing insurers, enter the same age, gender, smoking status, policy term, payout option, and rider configuration. The final premium can change after medical and financial underwriting or if the insurer applies a loading. For a fair comparison, keep features identical and note the quote date and source. Also remember that eligibility for ₹10 crore is assessed separately from the premium the calculator shows.
Should I choose a lump-sum or staggered payout for a ₹10 crore term insurance plan?
For most families, a lump-sum payout offers the greatest flexibility because the nominee can repay loans, invest the balance, and decide how much income to draw over time. A staggered or lump-sum-plus-income option can still be useful if the nominee would prefer predictable cash flows or may find a very large corpus difficult to manage. At Ditto, we generally prefer a lump sum for its flexibility, unless the family has a clear reason to choose structured payouts. Availability and payout terms vary by plan.
