Top 5 Term Insurance Companies In India providing Term Insurance plan for ₹2 crore


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Listing the 5 best insurance companies offering 2 crore term insurance policies for a better and secure future for you and your loved ones. Take a look.

Term insurance is not an option anymore. Not in the current world at least, which is filled with uncertainty in various areas of life – health, money, and life itself. There is no certainty of life anymore. At least, this is what the recent pandemic episode taught the entire world. The only thing certain in this scenario which assures financial protection not just for a lifetime but beyond life as well is term insurance. Here we discuss the value of 2 crore term insurance for your family and the top 5 companies that offer these plans at the best rates in the market. Read on.

Why to Buy 2 Crore Term Insurance Plans?

When buying term insurance for your family and loved ones, the most important thing to take into consideration is the life cover of the plan. This means the amount that would be assured to your loved ones in your absence to help secure their financial future after you. It is important that the life cover provides adequate coverage financially to cover both the present as well as future goals of all your family members.

This is where you need to put in a bit of thought into deciding the most appropriate (rather adequate) life cover for your family’s needs. We highly recommend going in for a minimum of 2 crore term insurance cover because it would sufficiently cover both present and financial requirements of your loved ones in your absence.

This could mean paying off any debts that you would have taken in your lifetime, besides providing for the education of your children and of course their marriage expenses. How? Because a 2 crore term life insurance plan is designed to offer the beneficiary (spouse/any other family member nominated by the policyholder) a sum assured of Rs. 2 crore as death benefit upon the latter’s unfortunate demise during the term of the plan.

This means investing in a plan that provides high financial coverage. As for the premium payable, term insurance 2 crore plans offer quite reasonable premium rates which can be easily afforded if you fall under any of the following:

  • You earn over Rs. 500,000 per year and can comfortably afford regular premium payments over the year
  • You are still young and healthy which means that you will be offered the policy at relatively lower premium rate, thereby making it affordable
  • You are the only bread earner for your family which means that all financial responsibilities are solely on your shoulders. It only makes sense to buy a term insurance of 2 crore to take care of your family’s financial needs in your absence.

If you’re convinced of investing in companies providing term insurance of 2 crores, we are here to help you find only the best in the market.

Read More: How Much Will a Rs 2 Crore Term Insurance Plan Cost in India?

Popular Term Insurance Companies

Where to Buy the Best Term Insurance Plan for 2 Crore?

The investment is high and you definitely wouldn’t want to take any unnecessary risks, especially when it comes to providing for your family in a world without your physical presence. This is why we present here a list of top 5 term insurance companies that offer 2 crore term insurance plans for all your needs.

Name of the Plan Eligible Age of Entry Age of Maturity Term of the Plan Sum Assured Mode of Premium Payment Premium Payment Term
ABSLI Life Shield Plan Min – 18 years; Max – 65 years 85 years 10-55 years Rs. 25,00,000 Monthly, quarterly, half-yearly and yearly Single pay, limited pay and regular pay
Max Life Smart Secure Plus Min – 18 years; Max – 65 years 85 years 10-67 years Rs. 20,00,000 Monthly, quarterly, half-yearly and yearly Single pay, limited pay and regular pay, or pay until 60 years
Kotak e-Term Min – 18 years; Max – 65 years 75 years 5-75 years less than age of entry Rs. 25,00,000 Monthly, quarterly, half-yearly and yearly Single pay, limited pay and regular pay
HDFC Life Click 2 Protect Min – 18 years; Max – 65 years Whole Life Cover 10 years – lifetime Rs. 50,000 Single time, monthly, quarterly, half-yearly, and yearly Single pay, limited pay and regular pay
PNB Metlife Mera Term Plan Min – 18 years; Max – 65 years 99 years 10-81 years Rs. 10,00,000 Monthly and yearly Single pay, limited pay and regular pay


We learned in this blog the top companies providing 2 crores term insurance and their detailed features. We hope that this information helps you make an informed choice while deciding to buy a term insurance plan of a high cover such as 2 crores. For more details on term insurance policies of different life covers, visit PayBima online. You can also compute the rate of premium payable for different plans by using the premium calculator on the website.   

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Is 2 crore term insurance enough?

Buying a term insurance plan worth a sum assured of Rs. 2 crore is ideal for individuals earning more than Rs. 500,000 as annual income. This is because this term plan ensures that your family’s financial needs will be well secured in your absence.

Can I buy term insurance from two companies?

Yes, you may choose to buy more than one term insurance plans from two different insurance companies; however, it’s important to know clearly the terms and conditions of each of the service providers while buying the plans. 

At what age term insurance is best?

The best time to buy term insurance is when you’re younger, say in your 20s and 30s, because you can earn for longer and comfortably afford to pay the premiums on your policy.

What are the 3 benefits of term insurance?

The top 3 benefits of buying a term insurance plan are:

1. It offers a high sum assured on payment of reasonably affordable premium
2. It offers several payout options of death benefit to the policyholder’s beneficiary upon the former’s demise 
3. It is rather simple and easy to understand by anyone

Can we stop term insurance in between?

Term insurance plans do not provide a refund option upon mid-term cancellation or a surrender value for the plan. Hence, it is not recommended to discontinue the policy in between. 

Dec 05, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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