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1 Crore Term Insurance
Buy 1 Crore Term Insurance to protect your family in your absence. Get term cover starting at just ₹18/day with 0% GST. Check your premium now. Buy term plan online today.
Home / Life Insurance / Term Insurance / 1 Crore Term Insurance
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.
What is 1 Crore Term Insurance Plan?
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.
How Does 1 Crore Term Insurance Work?
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:
Selecting the Sum Assured of 1 Crore: You start by choosing a coverage amount of Rs. 1 crore, which will be paid to your nominee if the policyholder passes away during the policy term.
Policy Term (Duration): You can choose how long the cover should last. For example 10, 20, or 40 years, or even up to a certain age.
Premium Payment Term: You’ll pay a fixed premium regularly (monthly, quarterly, or yearly) to keep your 1 crore policy active. The premium amount depends on your age, health, and tenure.
Premium Calculation: The premium for a 1 crore term insurance plan depends on factors like your age, health, lifestyle, and policy term. For example, a healthy 30-year-old non-smoker can get a 1 crore cover starting from just ₹832 per month.
To know the exact premium for your profile, you can use the ACKO Term Insurance Calculator. It gives you an instant estimate based on your details.
Adding Riders for More Protection: You can add riders like critical illness cover, accidental death benefit, or disability income cover to make your 1 crore term plan stronger.
Policy Issuance: After you complete the application, health checks, and verification, the insurer issues your 1 crore term insurance policy.
Free-Look Period: After the policy is issued, you get a few days to review it. This is called the free-look period. Let’s say, if you are not happy with your 1 crore term insurance plan, you can cancel it during this time.
Payout of the Sum Assured: If you pass away during the term, the insurer pays the 1 crore death benefit to the nominee.
Rider Payout: If you have chosen riders, such as critical illness or accidental death benefit, the insurer will pay additional amounts as per the rider terms.
Why Do You Need 1 Crore Term Insurance Plan in 2025?
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.
Income Replacement: 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.
Adjust for Inflation: 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):
Headline Inflation (CPI): 2.82% YoY (May 2025 vs May 2024)
Food Inflation: 0.99% (Rural: 0.95% | Urban: 0.96%)
Housing Inflation (Urban only): 3.16%
Education Inflation (Combined): 4.12%
Health Inflation (Combined): 4.34%
Transport & Communication Inflation (Combined): 3.85%
Source: Ministry of Statistics & Programme Implementation (MoSPI) (PIB Press Release)
Support for Future Goals: 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.
Flexibility to Change Coverage Amount: 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.
Increased Coverage with Riders: Most insurance companies have optional riders to personalise your ₹1 cr term insurance plan. Some of the common riders include:
Critical Illness Rider: Covers life-threatening illnesses such as cancer, stroke, or heart attacks.
Accidental Death Benefit: Provides an extra payout in case of accidental death.
Disability Income Rider: Offers regular income if you become permanently disabled and cannot work.
Protection Against Outstanding Loans: 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.
Save on Taxes: 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.
Peace of Mind: 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.
What are the features and benefits of buying the best term Insurance plan for 1 crore?
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) |
ACKO Life Flexi Term Plan vs Traditional Term Plans
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 | 99.29%* | 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 |
Home Pickup of Claims | Yes, ACKO team will personally collect the documents | Roughly 20% of insurers provide |
Free Will Creation | Yes | No, Generally does not offer integrated will creation services |
Is it advisable to choose a plan with extensive coverage like 1 crore?
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.
Affordable Premiums : 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.
Present Income & Expenses : 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.
Outstanding Loans & Liabilities : 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.
Future Financial Goals : 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.
Inflation Factor : 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.
Why Sum Assured is an Important Factor When it Comes to Term Insurance?
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.
1.5 Crore Term Insurance | ||
2 Crore Term Insurance | 3 Crore Term Insurance | |
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When Should I buy the Best Term Insurance Plan for 1 Crore?
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. ₹831.25 |
35 | Approx. ₹1,181.25 |
40 | Approx. ₹1,839.25 |
Disclaimer: The sample premium illustration for a 1 crore term insurance plan is calculated for a male non-smoker with a policy term of 30 years and a sum assured of ₹1 crore. The monthly premium shown is exclusive of discounts, GST, and other applicable levies.
ACKO Life Flexi Term Plan (UIN 164N003V01) is a Non-linked, non-participating, and pure risk term plan.
Why Choose ACKO Life Term Insurance Plan?
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 99.29%*, 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 | 99.29%* |
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 |
Am I Eligible for a ₹1 Crore Term Plan Based on My Salary?
Yes, you can be eligible for a ₹1 crore term insurance plan if your income and profile meet the insurer’s requirements. Most insurers allow a cover that is 10-15 times your annual income. This means if you earn ₹7–10 lakh a year, you may qualify for a ₹1 crore sum assured, provided you also clear medical and document checks. Apart from salary, you also must understand that eligibility also depends on other factors, including age, health, and your job occupation.
How Your Salary Determines Eligibility
Income Multiple: Insurers often use a multiplier (e.g., 10x, 20x, or 25x) of your annual income to calculate the maximum sum assured you are eligible for.
Minimum Income: You generally need a stable annual income, often ₹5 Lakhs or more, to be considered for a term plan.
Affordability: Your salary must also be sufficient to afford the regular premium payments for the ₹1 Crore sum assured.
Other Key Factors That Decide Eligibility
Age: Typically between 18 and 65 years. Younger applicants enjoy lower premiums.
Health & Lifestyle: Health conditions like heart disease, diabetes, or cancer may lead to higher premiums. If you smoke, your premium will likely be higher due to increased health risks.
Occupation: Most jobs are covered, though high-risk professions may face restrictions or higher premiums.
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
How to Check Your Eligibility Quickly
You can use an online term insurance calculator to estimate eligibility, keep income documents ready, and undergo the medical check-up required by most insurers.
Who Should Buy 1 crore Term Plan?
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:
1. Young Professionals
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.
2. Married Individuals with Dependents:
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. Learn more about term insurance for families.
3. Individuals with Loans
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.
4. Business Owners
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. Learn more about Term Insurance for Business Owners / Entrepreneurs.
5. Individuals Planning for Retirement
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.
6. NRIs (Non-Resident Indians)
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.
7. Senior Citizens
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.
8. Taxpayers
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.
What are the factors to be considered before buying the best term insurance plan for 1 crore?
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.
Compare Premium Rates: 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.
Compare Features Offered by Different Insurers: 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 vs. Offline Plans: 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
Check the Insurer’s Claim Settlement Ratio and Reputation
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 99.29%* 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.Terms and Conditions of the Policy
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.
How to Determine the Right Coverage for Term Insurance?
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.
Calculate term insurance premium for 1 crore
You should use a term plan calculator before buying a term insurance policy because it helps you make a smart and informed decision. It saves time, shows you the exact premium based on your details, and lets you compare, customise, and plan your 1 crore term insurance easily.
Time-Saving : This enables you to compare various insurance policies hassle-free.
Cost-Effective : Enables you to discover the affordable plan with the most desirable benefits.
Customisation : This lets you modify policy terms, payment options, and riders according to your requirements.
Transparent & Reliable : Offers a transparent breakdown of premium prices.
Financial Planning : Facilitates you in analysing your budget and selecting the appropriate coverage amount.
How to Choose the Best Term Insurance Plan for 1 Crore?
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:
Select the Right Coverage Amount: 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.
Select a Suitable Policy Term: 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 Premium rates: Compare the premium rates of 1 crore life insurance plans online. Choose a policy that provides the highest coverage at the lowest premium.
Consider Inflation: 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.
Opt for Riders for Additional Protection: Add valuable riders based on your needs.
How to Buy 1 Crore Term Insurance Plan from ACKO?
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.
Quick Online Purchase
Click on ‘Check Prices’
Enter your basic details
Select the right coverage and term
Complete a medical check-up, if required
Make the payment
Receive your policy via email
Easy Buy via ACKO App
Download the ACKO app
Tap ‘Explore Now’ and then choose ‘Find My Right Coverage’
Fill in the required details to check your eligibility and premium
Complete a medical check-up, if required
Make the payment
Receive your policy via email or download it from the app
If you have any questions or need help with the buying process, we're here for you.
Email us at: [email protected]
Please visit our support centre at https://www.acko.com/contact-us/ for any assistance
Why Trust ACKO Life for Your Term Insurance Needs?
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.
Digital-first experience with zero paperwork
24/7 access through the ACKO Insurance – Apps on Google Play
Backed by proven expertise: ACKO General Insurance has served over 78 million customers with an excellent claims settlement ratio. ACKO Life continues this focus with a strong ACKO Life Insurance Claim Settlement Ratio - May 2025
Please visit our support centre at https://www.acko.com/contact-us/ for any assistance. The ACKO claims team will take care of the rest.
Conclusion
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.
1 Crore Term Insurance Plan - FAQs
Understanding 1 Crore Term Insurance
Planning and Comparing the Right 1 Crore Term Insurance Plan
Buying, Claims & Policy Servicing
ACKO-Specific FAQs
1. What is 1 Crore Term Insurance?
A 1 crore term insurance plan offers your family a life cover of 1 crore if you pass away during the policy term. It's an affordable way to secure long-term financial protection.
2. Who should buy the best term insurance plan for 1 crore?
Anyone with financial dependents like salaried individuals, self-employed professionals, or young parents can opt for a 1 crore life cover to safeguard their family’s future.
3. Is 1 Cr term insurance enough coverage for everyone?
A 1 crore term insurance cover is suitable for many individuals, especially middle to high-income earners. However, it’s important to calculate your ideal coverage based on your lifestyle, outstanding debts, long-term financial goals, and the number of dependents.
4. What are the benefits of buying a 1 Crore term insurance plan?
Buying a 1 crore term insurance plan offers high life cover at low premiums, income tax benefits, optional riders, and financial security for your loved ones if you're not around.
5. What happens if you survive the policy term?
Term plans do not offer maturity benefits. If you outlive the policy, there’s no payout unless you've opted for a return of premium rider.
6. What is the right age to buy the best term insurance plan for 1 Crore?
The best time is in your 20s or 30s when premiums are low and you can lock in longer policy terms.
7. What is the minimum age to purchase a term insurance plan?
You can buy term insurance from the age of 18. Eligibility age may vary slightly based on the insurer's underwriting policies.
8. Can smokers buy a 1 crore term plan?
Yes, smokers can buy term insurance but will pay higher premiums due to increased health risks.
9. Are premiums higher for high-risk professions?
Yes, premiums are higher for high-risk jobs like pilots, miners, or defense personnel due to the greater chances of claims.
10. Is 1 crore enough in 2025? Should I opt for increasing cover plans?
Whether 1 crore is enough depends on your lifestyle, long-term goals, and family responsibilities. A term plan like the ACKO Life Flexi Term Plan gives you the flexibility to increase your coverage over time, helping ensure better financial security as your needs grow.
11. Can I increase cover for ₹1 crore to ₹2 crores later?
Yes, you can increase your term insurance cover from ₹1 crore to ₹2 crore in the future. This can be done either by buying an additional policy or by choosing a plan such as ACKO Life Flexi Term Plan that allows you to enhance the sum assured over time.
12. Will my employer’s group cover + my own ₹1 crore plan work together?
Yes, your employer’s group term insurance and your personal 1 crore term plan can work together. The group policy from your employer acts as basic protection, but it usually ends when you switch jobs. Having your own ₹1 crore term plan gives you continuous and larger coverage. For example, if your employer’s cover is 20 lakh, your family could still receive the full ₹1 crore from your personal plan. This gives stronger financial security.
13. What is the premium amount for 1 Crore Term Insurance?
Premiums for a 1 crore term insurance plan start as low as 400–600 per month for young, healthy individuals. Rates vary by age, lifestyle, and policy term.
14. How affordable is a 1 crore term insurance premium?
1 crore term plans are cost-effective, especially if you buy early. You get high life cover at low premiums compared to other insurance products.
15. What are the premium rates for different life covers in USD?
Premiums in USD depend on the insurer, age, health, and cover amount.
16. How to calculate the premium amount of the 1 Crore term plan?
Use a 1 crore term insurance premium calculator online. Enter age, income, cover amount, and policy term to get an estimated premium instantly.
17. What are the riders available with 1 crore term insurance plans in India?
Popular riders include accidental death benefit, critical illness cover, waiver of premium, and income benefit rider. They add extra protection to your base plan.
18. Who is eligible for 1 Crore Term Insurance?
Eligibility typically includes age between 18 - 65, stable income, and good health. Insurers may ask for income proof, medical tests, or lifestyle disclosures.
19. Can a student or fresh graduate buy a ₹1 crore plan?
Yes, they can if they are 18 or older and meet the insurer’s conditions. Insurers' primary concern is the ability to pay premiums regularly and maintain good health. Always remember that buying term insurance early helps get lower premiums.
20. What is the minimum income requirement to buy the best term insurance plan for 1 crore?
Insurers usually prefer a minimum annual income of 5–10 lakhs for 1 crore term insurance. This helps match the cover to your financial profile.
21. Do women policyholders pay lower premiums for a 1 crore term insurance plan?
Yes, women usually get lower premium rates due to higher life expectancy and lower health risks statistically.
22. Is there any tax on a 1 Crore Term Insurance policy in India?
Premiums are tax-deductible under Section 80C. The death benefit is usually tax-free under Section 10(10D) if conditions are met.
23. Can the nominee receive the 1 crore as monthly income or lump sum?
Yes, many insurers offer flexible payout options like full lump sum, monthly income, or a combination, choose as per your family's needs.
24. Can I increase the coverage after buying a 1 crore plan?
Some insurers allow you to increase life cover at key milestones like marriage or childbirth, or through add-ons and top-ups.
25. What is the maximum policy term available under a 1 crore term plan?
Policy terms typically range up to 40 years or till age 70–85, depending on the insurer's terms and your age at entry.
26. Can I convert my term plan to a whole life plan later?
Some insurers offer convertible term plans where you can switch to whole life or endowment without fresh medicals, within specific timeframes.
27. How to compare the best term insurance plan for 1 Crore?
Compare plans based on premium, claim settlement ratio, riders, policy term, and insurer reputation. Use comparison tools to shortlist top plans.
28. How to Choose the Right Term Plan?
Pick a plan with adequate cover, long policy term, optional riders, and a high claim settlement ratio. Choose a trusted insurer with good customer reviews.
29. How to Find the Cheapest Term Insurance Plan for 1 crore?
Use online comparison tools, choose essential coverage only, and buy early. Avoid unnecessary riders if you're looking for the lowest premium.
30. How much term insurance can I get?
Insurers allow life cover up to 15 - 20 times your annual income. The exact amount depends on your income, age, and underwriting.
31. Should I buy a 1 crore term insurance plan or an endowment plan?
A term plan offers pure protection at low premiums. An endowment plan combines insurance with savings but comes at a much higher cost.
32. Do I need a medical test for 1 crore term insurance?
Yes, most insurers require a medical exam for 1 crore cover to assess health risks. Some may waive it for younger applicants with strong financials.
33. Do all insurers offer ₹1 crore cover, or only a few?
No, not all insurers offer a ₹1 crore term cover, but most leading private and public life insurance companies in India, including ACKO, do since it’s one of the most popular and affordable options. However, availability depends on the insurer’s underwriting rules and your age, income, health, and lifestyle factors. Always check the insurer’s eligibility criteria or use a premium calculator to see if you qualify for ₹1 crore coverage.
34. How to buy 1 crore term insurance plan online?
Visit the insurer’s website or use a term insurance aggregator. Enter personal and income details, choose coverage, add riders, and complete payment digitally.
35. Can NRIs buy the 1 Crore term insurance?
Yes, many Indian insurers offer 1 crore term insurance plans to NRIs. KYC documents, overseas medicals, and telemedical screening may be required.
36. Can NRIs buy 1 crore term insurance in USD?
Yes, NRIs can buy 1 crore term insurance in USD. A 1 crore INR is approximately 119,500 USD.
37. How does the claim process work for a 1 crore term insurance policy?
The nominee needs to inform the insurer, submit claim forms and documents. Once verified, the insurer disburses the sum assured as per the chosen payout option.
38. What documents are needed while filing a term insurance claim for a 1 crore policy?
Key documents include the original policy, death certificate, claimant ID proof, and medical or hospital records if applicable.
39. What are the different term plan claims that can be filed?
Term plans usually cover natural death, accidental death, and death due to illness. Additional claims apply if riders like critical illness are active.
40. Can a nominee file a claim for the natural death of the policyholder?
Yes, the nominee can file a claim for natural death by submitting the required documents. Most policies cover death due to natural causes.
41. What happens if you stop your premium payments?
If you stop paying premiums, the policy will lapse after the grace period. You may revive it within a limited time, subject to conditions and late fees.
42. What is the premium of the ACKO term insurance 1 crore?
ACKO offers competitive premiums for a 1 crore term plan. The exact amount depends on your age, health, lifestyle, and chosen policy term.
43. What is the claim settlement ratio for ACKO and other top insurers?
ACKO has a 99.38%* claim settlement ratio. This reflects its strong track record and reliability in paying out claims.
44. What Rider Benefits Are Available On My 1 Crore Term Insurance?
ACKO offers optional riders like accidental death benefit, disability income and critical illness cover. These add extra protection to your base plan.
45. Where can I find an ACKO term insurance review?
You can check customer experiences and ratings on ACKO’s website. An ACKO term insurance review gives you insights into ease of purchase, claim settlement process, and overall service quality.
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.
Neviya Laishram
Sr. Content Editor
A senior editor with years of expertise, she fine-tunes content that connects, converts, and builds trust. She transforms heavy life insurance concepts into clear, aha-moment reads. Writing is her passion, and thinking ahead is second nature. When not wrangling words, she’s crushing game levels because every challenge is a puzzle waiting to be solved.
Written by
Neviya Laishram
Sr. Content Editor
Vaibhav Kumar Kaushik
Senior Director - Strategy at Acko
Reviewed by
Vaibhav Kumar Kaushik
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