₹50 Lakh Term Insurance
Term insurance plans are generally acquired by people to offer financial security to their family so that they could survive even in case of sudden demise of the sole earning member of the family. By procuring a Rs. 50 Lakh Term Insurance plan, an individual can safeguard the dependents in the family monetarily in case of unfortunate events.
If an individual buys a term insurance policy with Rs. 50 Lakh as sum assured, it means that the nominee of the insured policy would receive 50 lakh rupees as death benefit on your sudden demise during the policy period.
Thus, if you are willing to secure your dear ones when you are gone, you must obtain a Rs. 50 Lakh Term Insurance plan.
What is ₹50 Lakh Term Insurance?
Rs. 50 Lakh Term Insurance plan is a life insurance plan that permits Rs. 50 lakh as sum assured that the nominee of the insured receives in case the insured dies during the term of the policy.
If you are the sole earning member of your family with dependents who are entirely reliant on you for their needs, you might want to provide them financial security against any unforeseen situations in life. In this case, term insurance plans are helpful as they are cost-effective and are available with greater coverage.
A Rs. 50 Lakh Term Insurance plan is a term insurance cover that allows high coverage of life of the insured at a nominal cost. Thus, the premium for Rs. 50 lakh term insurance that is required to be paid by the insured for a Rupees 50 Lakh Term Insurance is very reasonable and pocket-friendly. This term insurance plan safeguards the beneficiary or family members of the insured against unforeseen events like sudden death of the insured during the duration of the policy. In such cases, the nominee of the insured receives a death benefit under the policy to help them survive a financially secure life.
Best ₹50 Lakh Term Insurance Plans Provider
Below are the best insurance providers offering Term insurance plans Rs. 50 lakh:
Insurance Plan | Insurance Provider | Entry age (Min.) | Entry age (Max.) | Maturity | Policy Duration | Sum Assured | Premium Payment Mode | Premium Payment Term |
---|---|---|---|---|---|---|---|---|
Aegon iTerm | Aegon Life Insurance | 18 yrs | 65 yrs | 100 yrs | 5-82 yrs | Rs. 25 lakh | monthly, quarterly, half-yearly, yearly | Single pay - regular and limited |
ABSLI Life Shield | Aditya Birla Sun Life Insurance | 18 yrs | 65 yrs | 85 yrs | 10-55 yrs | Rs. 25 lakh | monthly, quarterly, half-yearly, yearly | Single pay - regular and limited |
HDFC Life Click2 Protect Life | HDFC Life Insurance | 18 yrs | 65 yrs | Whole life coverage | 10 - whole life | Rs. 50,000 | monthly, quarterly, half-yearly, yearly | Single pay - regular and limited |
Max Life Smart Secure Plus | Max Life Insurance | 18 yrs | 65 yrs | 85 yrs | 10 - 67 yrs | Rs. 20 lakh | monthly, quarterly, half-yearly, yearly | Pay till 60 yrs |
PNB Metlife Mera Term Plan | PNB Metlife Life Insurance | 18 yrs | 65 yrs | 99 yrs | 10 - 81 yrs | Rs. 10 lakh | Monthly and yearly | Single pay - regular and limited |
Why Need to Buy a ₹50 Lakh Term Insurance plan?
Here are some reasons why you need to purchase a Rs. 50 Lakh Term Insurance plan:
Benefits to Buy ₹50 Lakh Term Insurance From PayBima
Below are the benefits of buying a Term Insurance Rs. 50 lakh plan from PayBima:
We offer hassle-free procedures to obtain insurance plans. We issue insurance within minutes without much paperwork or any complications.
Our procedure of selling insurance plans is totally transparent. Also, they are cost-effective and easy on your pocket.

We have tie-ups with reputed life insurance companies offering good claim settlement ratios.

Our Rs. 50 lakh term insurance plan premiums are reasonable and within the reach of your pocket.

Also, we have a dedicated team of customer assistance to offer a seamless experience to our clients.

Our customer support team is equipped with the best information about policies and can guide you well about any policy requirement.

They make sure to guide you about the right policy that you should buy..

We also offer several benefits and riders to our clients depending on the plans they opt for.
Wrapping Up
A Rs. 50 lakh Term Insurance Plan suits best for people who have financial dependents. So, if you have a regular income source, buying a term insurance with a minimum 50 lakh rupees plan is beneficial. Be it bachelors or married people, job holders or business personnel, self-employed and so on, everyone can get a term plan to secure their family members. Further, these plans come with tax deduction benefits, so that is another advantage of the term plans.
Thus, anyone who is young and earning should buy a term plan and start investing in the same to secure a family and evade tax by paying a reasonable premium rate.