1 Crore Term Insurance is a simple and pure form of life insurance. It provides a death benefit of 1 crore to the beneficiary if the policyholder passes away during the policy term. With 1 crore coverage, your family can take care of living costs, fund children’s studies or marriage, and pay off loans in your absence. A 1 crore term life insurance plan is easy to understand and affordable. For example, a healthy 30-year-old non-smoker can get a 1 crore cover for 30 years with premiums starting from just ₹832 per month.
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A 1 crore term insurance plan is a type of life insurance that offers a fixed coverage of ₹1 crore to your nominee if you pass away during the policy term. It is pure risk protection, which means there is no maturity or survival benefit if you outlive the policy.
If the insured dies during the policy term, the insurance company pays 1 crore to the nominee as a death benefit. However, if you want your premiums back at the end of the policy, you can opt for a Term Insurance with Return of Premium (TROP), though the premiums will be higher.
1 crore term insurance plan is a high-value life insurance policy. It provides ₹1 crore coverage to your loved ones in case of your untimely death during the policy term. It offers fixed premiums, flexible policy terms, customisable payout options, and add-on benefits to increase your protection (coverage). Here’s how it works when you buy a term insurance plan for 1 crore:
You need the best 1 crore term insurance plan in 2025 because it helps replace your income in case of your untimely death, covers rising living costs, manages growing financial responsibilities, protects against inflation, and ensures peace of mind for your family. Let’s look at a list of important reasons to buy the best term insurance plan for 1 crore.
If you are not around, your family may lose their main source of income. A 1 crore term insurance plan replaces that income so your loved ones can continue their everyday life.
Inflation means that over time, money loses value, and everyday costs may become harder to manage without adequate financial planning.
As per MoSPI’s official CPI release for May 2025 (Provisional):
Source: Ministry of Statistics & Programme Implementation (MoSPI) (PIB Press Release)
As you grow older, you may have more responsibilities, like children’s education, or parents’ medical care. The 1 crore payout from the term plan can help your family meet future goals, such as children’s education, marriage, or daily needs in your absence.
You can easily increase or decrease the coverage amount in your term insurance plan based on your needs, income, and life stage. This makes it a flexible term insurance option that’s easy to manage and ideal for different phases of life.
For example, a 30-year-old non-smoker male can get a 1 crore term insurance plan starting at ₹832 per month. As age increases, the premiums could rise to around ₹1,180 at age 35 and ₹1,840 at age 40.
Most insurance companies have optional riders to personalise your ₹1 cr term insurance plan. Some of the common riders include:
If you have a home loan car loan, or other debts, a 1 crore term insurance can help your family pay them off easily, so they don't face financial stress in your absence.
A 1 crore term insurance policy also helps you save on taxes. The money you pay as premiums is eligible for tax deductions under Section 80C of the Income Tax Act. Also, the payout your family receives is tax-free under Section 10(10D). This makes it a smart way to protect your family and manage your money better.
There is no doubt that knowing your family will be protected gives you peace of mind. A 1 cr term insurance plan removes the worry about what will happen in your absence.
A 1 crore term insurance plan comes with several features that make it affordable, flexible, and easy to manage. These features directly translate into benefits for the policyholder and the family. Below is a clear breakdown of the key features and benefits to help understand why this plan is a popular choice.
| Features | Benefits |
| Financial protection of ₹1 crore | Gives financial security to the family if the policyholder passes away during the term |
| Affordable premiums | Provides high life cover without putting too much pressure on the monthly budget |
| Fixed premium throughout the policy term | Premium stays the same, no sudden increase in cost |
| Flexible policy terms (short-term to long-term) | Choose coverage that matches age, income level, and future financial needs |
| Premium payment options (monthly/annually/one-time single premiums, etc) | Easy to buy term insurance online with a fast and paperless process |
| Rider options (critical illness, accidental death, disability cover) | Extra protection for health issues, accidents, or disability, along with the base cover |
| Multiple payout options (lump sum, monthly income, or both) | Nominee can receive the claim amount in the way that suits them best |
| No Maturity Value | Tax benefits under Section 80C and 10(10D) |
Buying a ₹1 crore term insurance plan from ACKO gives you more than just life cover; it gives you control, convenience, and customisation. Unlike traditional term plans, ACKO’s Life Flexi Term Plan is simple, flexible, fully digital, easy to manage, and built for your changing life needs.
From flexible coverage options and instant policy updates via app to up to 40% savings on premiums and value-added features like free will creation and increasing cover options, ACKO Life Flexi Term Plan offers a modern approach to a term insurance policy for 1 crore. Here’s how ACKO compares with traditional term insurance plans:
| Parameters | ACKO Life Flexi Term Plan | Traditional Plans |
| Claim Settlement Ratio | 99.38% | Varies from 98-99% |
| Policy Adjustments | Instant changes via app | Depends on the medium ( offline and online ) |
| Increasing Cover Option | Yes. No restrictions* | Restricted to life big events such as marriage, welcoming a child, etc. |
| Cost Savings | Up to 40% savings* | Costs grow over time 📉 |
| Future Premium Hikes | Age wise premiums remain the same | Age wise Inflation adjusted premium |
| Customisability | Flexible coverage/term | Rigid, limited options |
| Riders | Offers valuable riders to enhance protection | Riders may be provided depending on the plans |
| Length of Claim Form | Easy, digital, and short | Moderately long/Very long/Not available online |
| Option to Exit the Plan | Yes* | Approx. 80% of insurers provide |
| Digital Experience | Fully online, app-based 📱 | Often requires offline processes, paperwork, or branch visits |
| End-to-end Digital Support | Yes | Depends on the insurer |
Watch this quick explainer video to understand how ACKO’s Life Flexi Term Plan gives you the freedom to customise your 1 crore term insurance plan, so your loved ones are protected at every stage of life.
Yes, it is good to choose a term plan with high coverage. A 1 crore term insurance policy gives your family enough money to handle daily expenses, repay loans, and take care of future needs like education or marriage. Even with a 1 crore coverage amount, the premium is affordable. This makes it easy to protect your family.
Term insurance policies, like a ₹1 crore term insurance policy or even plans with higher coverage, are still quite affordable compared to other types of life insurance. You can get a large life cover by paying a small premium every month, which makes it easy to protect your family without spending too much.
If you have a high income and high monthly expenses, choosing a 1 crore term plan or more gives your family the financial security they need in your absence. With term plans, your premium stays the same throughout the policy term, which makes it easy to manage your monthly expenses without any surprise increases later.
If you have home loans, personal loans, or other liabilities, a term plan for ₹1 crore or higher makes sure your family doesn’t struggle to repay them.
If you intend to finance your children's higher education, marriage, or any other big expenses, a 1 crore term insurance policy or a higher coverage term plan can help your family meet those future goals without worry.
Over the years, money loses value due to inflation. Choosing a 1 crore term plan or higher ensures your family has the long-term financial support they need, even many years later.
Explore flexible sum assured options with ACKO Term Insurance plans. While the 1 crore term insurance plan is a popular choice, you can also choose other coverage amounts like ₹50 lakh, ₹75 lakh, ₹2 crore, or even up to ₹15 crore, depending on your income, age, and family needs. This helps you choose a sum assured that’s appropriate for your life stage and financial situation. If you want more details, information about the benefits of each sum assured amount is also available.
Buying a 1 crore term insurance plan early is a smart decision. Age is an important factor, so the younger you are, the lower your premium will be, and the easier it is to get approved. Whether you're in your 20s, 30s, or 40s, starting your 1 crore term plan at the right time gives your family long-term protection and helps you save money on premiums and taxes.
Sample Premiums for a 1 Crore Term Insurance Plan
| Age | Starting Premium (per month) |
| 30 | Approx. ₹832 |
| 35 | Approx. ₹1,182 |
| 40 | Approx. ₹1,840 |
Looking for the best term insurance in India in 2025? ACKO Term Life Insurance offers flexible features, customisable coverage, and high-value benefits to match your financial needs and life goals. With sum assured options ranging from ₹10 lakhs to ₹90 crores, affordable premiums starting at just ₹18/day, and a high claim settlement ratio of 99.38%, ACKO makes life insurance simple, accessible, and effective. Here’s a quick overview of what you get with ACKO Term Life Insurance:
| Categories | Specifications |
| Sum Assured | ₹10 Lakhs to up to ₹90 Crores |
| Entry Age | From 18 years to 65 years |
| Tax Benefits | Save up to ₹54,600* on taxes |
| Claim Settlement Ratio | 99.38% |
| Affordable Premiums | Term Life Cover Starting @ just ₹18/day* |
| Claim process | Fully digital, simply upload the necessary documents on the app. |
| Death Benefit | Available |
| Critical Illness Cover | Available |
| Accidental Total Permanent Disability | Available |
| Accidental Death Benefit | Available |
| 100% Dedicated Claim Assistance | Available |
| Policy Term Flexibility | Available |
| Customisable Policy Coverage | Available |
The right age to buy a 1 crore term insurance plan is as early as possible, usually starting from 18 years old. Most insurers allow entry up to age 60 or 65. Along with age, your eligibility and premium depend on other key factors like your health condition, income level, and smoking habits. Knowing these can help you choose the best 1 crore term plan for your needs.
You must be at least 18 years old to apply for a ₹1 crore term insurance policy.
Most insurers allow you to buy term insurance up to 60 or 65 years of age. Some insurance companies in India also offer term insurance plans for senior citizens in 2025, so it’s worth checking those options if you're older.
When you apply for a ₹1 crore term insurance plan, the insurance company looks at a few important factors to decide your eligibility and premium:
-Age: Younger applicants usually pay lower premiums.
-Medical History: Health conditions like heart disease, diabetes, or cancer may lead to higher premiums.
-Income: You need to show a steady income that supports the premium for a ₹1 crore cover.
-Smoking Habits: If you smoke, your premium will likely be higher due to increased health risks
A ₹1 crore term insurance policy is a good choice for people of different ages and income levels. Whether you're starting your career, supporting a family, repaying loans, running a business, or planning retirement, this coverage amount can help ensure your loved ones are financially protected. Here’s a list of people who should consider a term insurance plan for ₹1 crore in 2025:
Those in their 20s or 30s can buy a term insurance plan at lower premiums. Since younger people are usually healthier, the cost of a 1 crore life cover is affordable, making it the best time to lock in low premiums for long-term protection.
For those who are married, especially with children, a ₹1 crore term insurance policy ensures that your spouse and kids are financially protected in your absence. The payout can cover household expenses, school fees, and other essential financial needs.
If you have borrowed large amounts, like a home loan or business loan, this insurance covers your dependents from struggling to pay debts in the event of an untimely death. It saves them from financial crises or having to sell assets to settle outstanding obligations.
Business owners and entrepreneurs who have borrowed money or have financial obligations should opt for a ₹1 crore term plan to secure their business and family. The claim can be utilised to pay off business debts or give money to sustain the business.
If you are about to retire, having a term insurance plan guarantees your family's financial security even in your absence. It can be used as a financial backup for your spouse.
NRIs who live abroad but have families in India should consider buying a 1 crore term insurance plan in India. A term insurance plan for NRIs ensures that their loved ones receive financial support. It helps them manage living costs and achieve future goals.
Although premiums are higher for older people, term Insurance for senior citizens can still provide valuable financial security for the spouse and dependents. It also helps cover medical expenses and debts.
All taxpayers can benefit from buying a 1 crore term insurance plan. The premiums paid are eligible for term insurance tax benefits under Section 80C, and the payout received by the nominee is tax-free under Section 10(10D). This makes the plan not only a strong protection cover but also a smart tax-saving option.
You can also learn why a housewife, a non-working spouse, and women need term insurance in 2025. These plans highlight how financial security is important for every family member, not just the earning partner:
Term Insurance for Housewife Term Insurance for Non-Working Spouse Term Insurance for Women
Before buying a ₹1 crore term insurance plan, it's important to understand key factors like premium cost comparison, policy features, buying mode (online vs. offline), and the insurer’s claim settlement record. These factors help you choose the best term insurance plan for ₹1 crore that fits your needs and offers reliable protection for your family.
When comparing different insurance plans, it’s important to remember that the premium you’ll pay can vary. The premium depends on several factors, such as your age, health, and lifestyle habits.
You can also use an HLV Calculator (Human Life Value Calculator) to estimate the right coverage amount based on your income, expenses, and future financial needs.
Different insurance companies may offer different features and benefits with their term insurance plans. It’s a good idea to compare features like riders, policy term options, etc., before choosing the best 1 crore term plan for you.
Online term insurance plans are usually more affordable, making it easier to find a low premium 1 crore term plan that fits your budget. You can also compare different policies, features, and prices on your phone or laptop without visiting an agent or office. This saves time and helps you make a better choice.
The claim settlement ratio shows the percentage of claims an insurer has successfully paid out in a year. This gives you a sense of how well the insurer handles claim settlements and the probability of your claim being resolved in the event of an unexpected circumstance.
The claim settlement ratio in a 1 crore term plan is an important factor to check, and ACKO Life offers a strong 99.38% ratio, which shows trust and reliability.
To know more, explore IRDAI’s official Buying Insurance page. It explains the important things to know and the safety checks to keep in mind before choosing a term insurance plan.
Before choosing a policy, read the terms and conditions carefully and understand the coverage inclusions & exclusions, benefits, and limitations. Some common terms and conditions that you should know are the policy term and premium payment frequency, grace period in case of premium payment defaults, policy cancellation or surrender policy, and the claim settlement process. Some insurers may offer additional benefits such as loyalty bonuses, accidental death benefits, and terminal illness coverage.
You can determine the right life cover amount by using a simple method. First, multiply your annual income by 15 to 20 times (some experts suggest 10 to 15 times for basic cover, while 15 to 20 times gives better protection). Then, add any loans you still need to repay and future expenses such as your child’s education or marriage. After that, subtract your savings and any existing life insurance cover. Many people often ask, “Is 1 crore term insurance enough?” The answer depends on your income, liabilities, and future goals, but for most young professionals and families, a 1 crore term insurance plan is a smart starting point.
Formula (simple method): 15 - 20 times annual income + Liabilities + Future goals - Savings = Desired coverage
If you’re worried about affordability, you can use a term insurance calculator to estimate your premiums for a ₹1 crore term insurance plan. Enter your basic details, and the calculator will do the rest for you.
Here’s a smart way to choose the best term insurance plan for 1 crore. Selecting a ₹1 crore term insurance plan can be confusing, with numerous options available. To make the right choice, choose the right coverage amount and a suitable policy term. Also, compare premium rates, consider inflation, and add riders if needed. These steps help you pick a plan that fits your needs and offers reliable protection for your family. Let’s understand how and why these essential factors are important in more detail:
Consider your lifestyle, monthly expenses, existing loans, and long-term financial goals. A ₹1 crore cover is ideal for individuals earning ₹10-50 lakh annually to ensure financial security for dependents.
The policy must ideally extend up to retirement age or when dependents are self-sufficient. For individuals in their 20s or 30s, a 30-40-year term offers long-term protection.
Compare the premium rates of 1 crore life insurance plans online. Choose a policy that provides the highest coverage at the lowest premium.
When planning for the future, it’s important to remember that the cost of living keeps rising. What seems like enough money today may not be enough 20 or 30 years from now. Choosing a ₹1 crore term insurance plan helps you stay ahead of inflation.
Add valuable riders based on your needs.
Buying a ₹1 crore term insurance plan from ACKO Life is simple, fast, and fully digital. As one of the providers of the best online term insurance in India 2025, ACKO makes it easy to purchase a plan through the website or directly from the ACKO app. Below is a step-by-step guide to help you buy a term insurance plan for ₹1 crore from ACKO Life, using either method.
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ACKO Life makes it easy to file a term insurance claim. There’s no paperwork; you can do it anytime on the app, and a support team is always ready to help.
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An affordable 1 crore term insurance plan is one of the easiest ways to protect your family’s future. Whether you're in your 20s, 30s, or 40s, buying term insurance early helps you save money with lower premiums. With the cost of living rising and more responsibilities every year, choose a 1 crore term insurance plan today and make sure your loved ones are financially protected.
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Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet and is subject to changes.
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