A term insurance policy of ₹7 crore provides a substantial life coverage of ₹7 crore. If the insured passes away within the chosen term, this sum assured is disbursed to designated beneficiaries as a payout.
Life Cover Starting @ just ₹18/day*
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Modify coverage as per your life stages & commitments
Hassle-Free Claim Settlement
99.38% Claim settlement ratio*
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| Income Bracket | ₹20 Lakh and above annually |
| Family Status | Individuals with a spouse, children, or dependents may need higher coverage to secure their future. |
| Financial Responsibilities | Have significant debts (home loans, education loans) or financial commitments. |
| Age Group | 30 - 45 years (Younger individuals may find it easier to secure extensive policies at lower premiums; older applicants may face higher costs.) |
| Dependents | More dependents generally need extensive coverage to ensure their financial stability in your absence. |
Buying a term plan without knowing precisely what it offers is not the right move. So, let’s understand the key benefits of a ₹7 crore term life plan.
Term insurance is the least complicated type of life insurance. You pay your 7 crore term insurance premiums on time, and in case of your unfortunate demise during the policy period, your loved ones receive the coverage amount.
The sum assured of ₹7 crore will give your family an enormous financial cushion to maintain their standard of living.
Choose a term that suits your needs—10, 20, or 30 years. Most term policies can be extended or renewed.
Many term insurance policies offer the option to add riders or customise coverage based on personal needs.
Premiums paid on term insurance policies are tax-deductible under Section 80C of the Income Tax Act, India. You can save up to ₹1.5 Lakh per annum.
A ₹7 crore term insurance plan can provide the utmost level of financial security to various individuals and families. However, the individuals listed below can benefit the most from the extensive coverage amount.
With the growing recognition of having the right life cover, many opt for a ₹7 crore term plan. Let's look at some primary reasons for choosing this term plan:
A ₹7 crore sum assured is a huge amount, and having a plan with such a significant amount ensures your family’s financial stability, including managing debt, if any.
Inflation can diminish the value of money over time, making it challenging for families to keep up with rising costs. A ₹7 crore term plan ensures that your loved ones' financial security remains high for long periods.
Securing a ₹7 crore term plan allows you to live stress-free, knowing your family will be financially sound in case you don't make it. Perhaps it will give you the strength to pursue all those things you always wanted to, without fear.
Term insurance is an effective way of securing your family's financial future. Here are important factors to consider before investing in ₹7 Crore Term life Insurance.
You must examine your financial condition before purchasing a ₹7 crore term insurance online. Review your income, expenses, and other liabilities to determine how much premium you can afford without stretching it too far. Consider your future financial position and whether your salary will increase or your expenses change.
You can also use a term insurance calculator to estimate a ₹7 crore term insurance premium based on several factors, such as your occupation, age, gender, policy term, and more.
The term (duration) of the policy should align with your long-term financial goals. Do your dependents need financial support in the future? Are they younger, and how much will they require compared to now? Make sure you buy a plan that allows you to change your policy term to meet your ever-changing needs.
You have to also decide if a term insurance of 7 crore would be adequate in case of your death. This sum assured should be able to replace your lost income and pay off all outstanding debts, including a home loan, car loan, or personal loan.
Your health status determines how you would be charged and whether you qualify for your preferred policy. Disclose all your pre-existing health conditions. You may also be required to undergo medical underwriting!
Consider an insurer with a high claim settlement ratio. Research the insurer's ratings, customer reviews, and reputation in the market. Consider an insurer with high financial stability.
ACKO Life Flexi Term Plan delivers a modern, flexible, and customer-centric solution for long-term financial protection. As the name suggests, it provides an unmatched level of policy flexibility. With this plan, the entire policy lifecycle can be managed digitally via the ACKO app.
| Parameter | 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 |
| Home Pickup of Claims | Yes, the 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 |
| Maximum Maturity Age | 70 Years *The life expectancy in India was 67.24 in 2021. | 70 - 100 Years |
Choosing the right online term insurance requires thorough research. Check premium affordability; estimate coverage needs, consider your health conditions, and understand the insurer's reputation. When purchasing a plan, it is also essential to read all the policy terms. Additionally, seek advice from an advisor, if needed, to make the best possible decision.
Below are the most asked questions about term insurance 7 crore.
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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Acko Technology & Services Private Limited
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