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The rising rate of inflation is a serious issue that each one of us is dealing with. The inflation rate is the reason for the rise in the expenses of almost everything required to sustain the day to day needs of people, as well as the rise in the standard of living of people. Thus, for families with a single person as the source of income needs to be very careful about their financial security, especially in the event of any unfortunate event.
Also, with age comes responsibilities, and as your role in the family changes, it also changes the responsibilities that you have to shoulder. Thus, having an adequate plan of term insurance with proper coverage is important.
Just imagine how the dependants in a family will survive if the sole breadwinner suddenly leaves the world owing to an unexpected mishap. How will they manage the expenses of livelihood, education, marriages, loans etc? Here, having a 1 Crore term insurance policy can help the family to meet their needs, and can ensure that they lead a financially secure and comfortable life.
If you are planning to invest in an insurance plan to secure your dependants, the Rupees 1 Crore term plan serves best for you. This is an affordable plan of life insurance that comes with numerous benefits.
To know more about the Rupees 1 Crore life insurance plan, just read on.
Term insurance is a life insurance policy offering complete protection. A term plan offer coverage for a definite tenure in return of a particular amount of premium paid by the policy holder. So, in the event of an unfortunate death of the insured during the tenure of the policy, definite payout is received by the nominee as reimbursement for the loss of income.
By investing on a 1 Crore life insurance policy, you can be assured that your nominee receives the sum assured after you are gone. With this plan, you can secure your children’s future and can fulfill their dreams and aspirations even when you are not there.
There are many benefits of purchasing a Rupees 1 Crore term insurance plan.
There are a number of insurance companies in India offering a wide selection of term insurance plans. The features, benefits as well as the premium you pay for such policies varies and they can be modified as per your requirements.
However, you must note that to pay low premium on term insurance policies, you have to be medically fit and without any illness. Also, you shouldn’t be a smoker or alcoholic to enjoy basic to low premium amount. In case, you have any pre-existing medical conditions or any bad habits, you might have to pay more premium.
Here is a list of few best term life insurance plans for 1 Crore Rupees:
Aegon Life iTerm Insurance Plan – This plan offer life cover for up to 100 years of age. Others features include:
Aviva i-Life Total Plan – This plan offers sum assured of minimum Rs. 50 lakh with no maximum limit. It presents complete coverage at low premium price. Some features are:
Bajaj Allianz iSecure Term Assurance Plan – This is another good term insurance plans with features such as:
LIC Tech Term Plan – This is a non-linked plan with pure protection. Some of the features are:
In addition to the above, there are many other attractive plans available. However, it is recommended that you must go through and compare different plans before choosing the one that suits you.
Below are few other best Rupees 1 Crore term insurance plans:
Though Rupees 1 Crore term plan is not a standard figure for a term insurance. However, looking at the cost of expenses and life style of people, it is advisable to invest in this plan. People can purchase term insurance of any amount smaller or greater than 1 Crore rupees to ensure the security of their family after they are gone.
A novice in insurance might find it difficult to choose the best term insurance plan for their family. Thus, it is important to understand and compare various plans before making the purchase so that you can choose the most appropriate plan for your loved ones as per your budget.
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