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₹1 Crore Term Insurance Cost 2026: Real Premiums by Age
What does ₹1 crore term cover actually cost? Real 2026 premiums by age and gender (30-year-old man: ₹8,856 to ₹10,440 a year) and what waiting really costs.
Written by Kshitij JainUpdated nyvo insurance Services LLP, IRDAI Corporate Agent (Composite) CA1085Salaried advisors, no commission-based ranking
A ₹1 crore term insurance policy for a 30-year-old non-smoker male costs ₹8,856–₹10,440/year (₹738 to ₹870 a month, cover till age 60), a median of ₹9,528, in nyvo's own premium data (May 2026). The same cover for a 30-year-old female costs ₹7,536–₹8,880/year, a median of ₹8,100 – women pay about 15% less. Premiums more than double between entry at 30 and entry at 45: 2.3 times on the median. Starting at 25 rather than 35 costs about the same in total premium to age 60, since you pay for ten more years, but those are ten more years of cover, and someone who starts at 35 pays about 38% more every year than a 25-year-old, on the median.
Every premium on this page is the full amount you pay. Individual life insurance has attracted nil GST since 22 September 2025, so there is nothing to add on top.
If term insurance is new to you, what term insurance is and how a ₹1 crore plan pays out covers the basics first. For a figure on your own age and health, get term insurance quotes; to choose between the five plans, see the best ₹1 crore term plans compared.
Back to: Term Insurance guide
Quick checklist
- Goal: understand premium components and riders for 1-crore term cover to compare fairly.
- Avoid: comparing raw premiums without clarifying rider inclusions and medical underwriting type.
- Prefer: standardized riders (accidental death, waiver of premium) only; skip optional riders unless critical.
- Claims-first: ensure all riders are documented in policy schedule; verify nominee and beneficiary details.
Who this is for
This page is written for a first purchase.
- You hold no life cover of your own, or only the group cover your employer provides.
- Someone depends on your income: a spouse, children, or parents.
- You are in standard health and want to settle the cover amount before comparing premiums.
If you already hold a policy and are trying to fix or switch it, the advice below still applies, but the order of operations is different.
Master Premium Table: ₹1 Crore Cover (2026)
Non-smoker male (cover till 60)
| Entry age | Monthly (median) | Annual | Across the five plans | Total paid till 60 |
|---|---|---|---|---|
| 25 | ₹719 | ₹8,628 | ₹669–₹763/month | ₹3,01,980 |
| 30 | ₹794 | ₹9,528 | ₹738–₹870/month | ₹2,85,840 |
| 35 | ₹990 | ₹11,880 | ₹902–₹1,070/month | ₹2,97,000 |
| 40 | ₹1,321 | ₹15,852 | ₹1,229–₹1,437/month | ₹3,17,040 |
| 45 | ₹1,834 | ₹22,008 | ₹1,761–₹2,053/month | ₹3,30,120 |
Non-smoker female (cover till 60)
| Entry age | Monthly (median) | Annual | Across the five plans | Total paid till 60 |
|---|---|---|---|---|
| 25 | ₹611 | ₹7,332 | ₹568–₹649/month | ₹2,56,620 |
| 30 | ₹675 | ₹8,100 | ₹628–₹740/month | ₹2,43,000 |
| 35 | ₹842 | ₹10,104 | ₹767–₹910/month | ₹2,52,600 |
| 40 | ₹1,123 | ₹13,476 | ₹1,044–₹1,222/month | ₹2,69,520 |
| 45 | ₹1,559 | ₹18,708 | ₹1,497–₹1,745/month | ₹2,80,620 |
The median is the middle of the five plans nyvo rates – Bajaj eTouch II, Tata AIA Sampoorna Raksha Promise, Axis Max Life Smart Term Plan Plus, ICICI Pru iProtect Smart Plus and HDFC Life Click 2 Protect Supreme Plus. Basis: ₹1 crore cover, cover till 60, regular pay, non-smoker and non-diabetic, salaried graduate on ₹10 lakh income. nyvo's own premium data, May 2026. Annual is twelve times the monthly median, and the total assumes that premium is paid every year to 60. Entry ages below 25 and above 45, smokers, other covers and cover beyond 60 are not in that set, so they are not quoted on this page – ask on the call.
Price is only one way to choose between these five. Our comparison of the best ₹1 crore term insurance plans weighs their claim records, riders and payout options as well, and our term insurance comparison table puts all 32 term plans in our policy database side by side.
Do smokers pay more for ₹1 crore of cover?
Yes. Smokers and tobacco users are priced on a separate, higher smoker rate, so none of the non-smoker figures above apply to them, and tobacco here includes chewing it (gutkha, paan), bidi and vaping as well as cigarettes. nyvo's premium data covers non-smokers only, so this page does not publish a smoker premium: the quote on your own declaration is the only reliable figure.
Declare it even if it is occasional. Tobacco use hidden at purchase is a material misstatement, and in the policy's first three years that lets the insurer question the policy and refuse the claim (Section 45 of the Insurance Act, 1938).
Does cover beyond 60 cost more?
Yes. A longer term means a higher premium every year and more years of paying it. Every figure on this page is for cover till 60, the only term in nyvo's premium data, so we do not quote cover to 65, 70 or 75: ask for quotes at both ages on the same plan before you choose.
When to choose longer tenure:
- Dependents are young (will need support past your 60)
- Home loan EMI extends beyond 60
- You plan to work/earn till 65+
Read: Tenure guide
Does ₹50 lakh cost half as much as ₹1 crore?
Not reliably. Premiums do not move in a straight line with cover, because each policy carries costs that do not shrink with the sum assured, so halving the ₹1 crore figure will not give you the ₹50 lakh price. nyvo's premium data prices ₹1 crore only, so get quotes at the cover your family actually needs, which our guide to how much term cover you need helps you work out. Don't under-buy to save a small amount of premium.
What does waiting cost?
Waiting barely changes what you pay in total to age 60, because a later start means fewer years of paying; what it changes is the rate you lock in. On the median plan in nyvo's premium data (May 2026), a non-smoking man buying ₹1 crore of cover to 60 pays:
| Buy at age | Annual premium (median) | Years of payment | Total paid to 60 |
|---|---|---|---|
| 25 | ₹8,628 | 35 years | ₹3,01,980 |
| 30 | ₹9,528 | 30 years | ₹2,85,840 |
| 35 | ₹11,880 | 25 years | ₹2,97,000 |
| 40 | ₹15,852 | 20 years | ₹3,17,040 |
| 45 | ₹22,008 | 15 years | ₹3,30,120 |
On the median plan, starting at 25 rather than 35 costs ₹4,980 more in total to age 60 (₹3,01,980 against ₹2,97,000), and it buys ten more years of cover. A man who starts at 35 pays about 38% more every year than one who started at 25: ₹990 a month against ₹719. On the median, each year you wait adds about 2% to the premium between 25 and 30, about 4.5% a year between 30 and 35, about 6% between 35 and 40 and about 7% between 40 and 45.
The bigger cost of waiting is health: a condition that appears before you buy can mean a loading, a postponement or a decline, and no premium table can price that.
Is paying annually cheaper than monthly?
Usually, yes. Insurers add a loading when you pay monthly, quarterly or half-yearly instead of once a year, and each plan sets its own loading in its terms. nyvo's premium data does not record those loadings – the annual figures on this page are twelve times the monthly figure – so compare the annual and monthly quotes on the same plan before you choose.
Recommendation: Pay annually if cash flow allows; pay monthly if that is what keeps the policy from lapsing.
What affects your premium? (Beyond age)
Age and cover set the base rate; the rest is underwriting. nyvo's premium data prices a healthy non-smoker only, so this table says which way each factor moves the price, not by how much.
| Factor | Effect on premium |
|---|---|
| Smoking or any tobacco use | Priced on the smoker rate |
| BMI outside the insurer's range | Loading possible |
| Family history (heart disease, cancer) | Loading possible |
| Hazardous occupation | Loading, exclusion or decline |
| Adventure sports (regular) | Loading or exclusion |
| Pre-existing conditions | Loading, postponement or decline |
How to get the best rate
- Buy young: each year you wait adds about 2% to the median premium in your late twenties and about 7% a year in your early forties, and the rate is locked in for the whole term
- Declare honestly: Wrong declarations = claim rejection, not savings
- Compare 3-4 insurers: among the five plans nyvo rates, the most expensive costs 14–19% more than the cheapest for the same healthy non-smoker, depending on age (nyvo's premium data, May 2026)
- Pay annually: monthly, quarterly and half-yearly payment carry a loading set by each plan
- Skip unnecessary riders: every rider adds to the premium, so take only the ones you would actually claim on
- Maintain health: Some insurers offer wellness discounts
FAQs
What is the premium for 1 crore term insurance?
₹8,856 to ₹10,440 a year, or ₹738 to ₹870 a month, for a healthy 30-year-old non-smoking man with cover till 60, a median of ₹9,528; a woman pays ₹7,536 to ₹8,880 a year (nyvo's premium data, May 2026). On the median, a man pays ₹8,628 a year if he buys at 25 and ₹22,008 at 45.
Why do women pay less for term insurance?
Because insurers price on mortality risk, and women live longer on average. In nyvo's premium data (May 2026), a woman pays about 15% less than a man of the same age for the same ₹1 crore of cover, on the median at every age from 25 to 45, and Tata AIA and Axis Max Life write a 15% lower rate for women into their plan terms.
Can I get ₹1 crore cover if I'm 50?
Yes. All five plans nyvo rates accept entry up to age 65 on their standard variant, though some payment options close earlier, such as Pay Till 60 on Bajaj Life and Axis Max Life. nyvo's premium data stops at entry age 45, so this page does not quote a price at 50; medical underwriting may be stricter, so ask for a quote on your own profile.
Will my premium increase every year?
No. Term insurance premiums are locked at purchase. You pay the same amount throughout the policy term.
Is monthly payment better than annual?
Annual usually costs less over the year, because insurers add a loading to monthly, quarterly and half-yearly payment, set in each plan's terms. Monthly is easier on cash flow. Choose based on your budget discipline.
How does smoking affect term insurance premium?
Smokers pay a separate, higher smoker rate, and that includes cigarettes, bidi, gutkha and vaping. nyvo's premium data covers non-smokers only, so we do not quote a smoker premium; the quote on your own declaration is the only reliable figure. Never hide it: in the policy's first three years, undeclared tobacco use lets the insurer question the policy (Section 45 of the Insurance Act, 1938).
Can I increase my cover later?
Some policies allow cover increase at life events (marriage, child birth). Or you can buy an additional policy (with fresh underwriting at current age).
What if I can't afford ₹1 crore cover?
Buy what you can afford now, but ensure it covers at least your liabilities. You can increase later. Some cover is better than no cover.
Are online term insurance premiums lower?
Digital plans are usually priced below the equivalent offline policy. Same insurer, same policy wording, same claim process.
Do premiums differ between insurers for same cover?
Yes. Among the five plans nyvo rates, the most expensive costs 14–19% more than the cheapest for the same healthy non-smoker, depending on age: ₹1,584 a year for a 30-year-old man (nyvo's premium data, May 2026). That's why comparing 3-4 insurers is worth the effort.
Is it better to buy two ₹50L policies or one ₹1Cr?
One ₹1 crore policy is usually simpler: one medical, one premium date and one claim for your family to file. It can also cost less, because premiums do not rise in step with cover, but nyvo's premium data prices ₹1 crore only, so compare the two quotes side by side.
What's the cheapest ₹1 crore term plan?
It depends on your age, your health and the options you pick. Across the five plans nyvo rates, the dearest costs 14–19% more than the cheapest for the same healthy non-smoker (nyvo's premium data, May 2026), and the order changes with age, so compare three or four insurers on the same cover and tenure, then check the claim record before you decide on price.
Related Guides
Disclaimer: Premiums shown are from nyvo's own premium data (May 2026), on the basis stated under the master premium table. Actual premiums depend on insurer, exact age, health profile, and underwriting. Always get personalized quotes.
Where first-time buyers usually start
Read the wording before you decide: what you disclose on the application, and the exclusions, decide more term claims than the premium does.
- HDFC Life Click 2 Protect Supreme · settles 99.6% of death claims and draws 1.33 complaints per 10,000 claims, the fewest of any life insurer we hold a figure for
- Axis Max Life Smart Term Plan Plus · pays out 96.2% of the amount claimed, the highest of our five picks
Not sure which fits? An IRDAI-certified nyvo advisor will read your situation with you. Salaried, not commission-led. Health and term only. IRDAI Corporate Agent (Composite), licence CA1085.
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- Salaried advisors, not commission-linked: we focus on clarity and suitability, not product hype.
- No spam: we don't sell your data; we keep advice simple and actionable.
- Claims-first: policy features are evaluated by how they behave during claims.
- Education-first: this content is for informational purposes only.
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Alumni of IIT Delhi and IIM Ahmedabad. Former consultant at BCG and part of the strategy team of slice. Founder of nyvo and IRDAI Certified Insurance Advisor.
