First in India
Claim Support Guarantee, otherwise your money back.
Buy through nyvo and we get your claim passed, otherwise refund your premium. We are putting our money on our claim service.
Best ₹1 Crore (1 Cr) Term Insurance Plans 2026: From ₹738/month
₹1 crore term insurance starts at ₹738/month for a healthy 30-year-old man, ₹628 for a woman. Compare the 5 best plans on price, claim record and payouts.
Best Term Insurance Plans for ₹1 Crore Cover in 2026
The best ₹1 crore term insurance plans in 2026 are HDFC Life Click 2 Protect Supreme Plus, Axis Max Life Smart Term Plan Plus, ICICI Pru iProtect Smart Plus, Bajaj Life eTouch II and Tata AIA Sampoorna Raksha Promise. For a healthy 30-year-old non-smoker, ₹1 crore of cover costs ₹738–₹870/month for a man and ₹628–₹740 for a woman (nyvo's own premium data, May 2026).
Premiums across the five are close, so the choice turns on claim record, add-on riders and payout flexibility. All five settle at least 98.5% of individual death claims, with HDFC Life highest at 99.6% (IRDAI data, weighted average of the last three financial years, latest available as of March 2026). On the same premium data, Bajaj Life eTouch II is the cheapest of the five at age 30.
How Much Does ₹1 Crore Term Insurance Cost?
For a healthy 30-year-old non-smoker, ₹1 crore of cover costs ₹738 to ₹870 a month for a man and ₹628 to ₹740 for a woman (nyvo's own premium data, May 2026). That is the whole price – individual life insurance has attracted nil GST since 22 September 2025.
| Plan | Monthly (male) | Monthly (female) | Annual (male) |
|---|---|---|---|
| Bajaj Life eTouch II | ₹738 | ₹628 | ₹8,856 |
| Tata AIA Sampoorna Raksha Promise | ₹782 | ₹664 | ₹9,384 |
| Axis Max Life Smart Term Plan Plus | ₹794 | ₹675 | ₹9,528 |
| ICICI Pru iProtect Smart Plus | ₹835 | ₹710 | ₹10,020 |
| HDFC Life Click 2 Protect Supreme Plus | ₹870 | ₹740 | ₹10,440 |
Age 30, ₹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.
By age, same basis – the range spans all five plans:
| Age | Male | Female |
|---|---|---|
| 25 | ₹669–₹763 | ₹568–₹649 |
| 30 | ₹738–₹870 | ₹628–₹740 |
| 35 | ₹902–₹1,070 | ₹767–₹910 |
| 40 | ₹1,229–₹1,437 | ₹1,044–₹1,222 |
| 45 | ₹1,761–₹2,053 | ₹1,497–₹1,745 |
Monthly. A woman pays roughly 15% less than a man of the same age for the same cover.
One caution on the cheapest plan. Bajaj eTouch II has the lowest premium of the five at 30 in the table above, but each plan's price moves differently with age, so the cheapest at 30 is not guaranteed to be the cheapest at yours. Run the quote at your own age.
Key insight: Buying at 25 rather than 35 costs a man ₹230–₹320 a month less for the same ₹1 crore, depending on the insurer, and that gap holds for the whole term. Every year of delay is priced in permanently.
Top 5 Plans for ₹1 Crore Cover
1. HDFC Life Click 2 Protect Supreme Plus
Best for: The strongest claim record of the five: 99.6% CSR and 1.33 complaints per 10,000 claims, at the highest premium of the five.
- CSR: 99.6%
- Premium (age 30, male): ₹10,440/year (₹870/month)
- Payout options: Lump sum, level instalments over 5 to 15 years, or a split of the two; your nominee can choose instalments at claim
- Key feature: Life Stage benefit – increase your cover at marriage, childbirth or a home purchase without fresh medical tests. Spouse cover can also be taken within the same policy
- Riders: Critical illness (60 conditions), waiver of premium, accidental income benefit, education income benefit, spouse cover, Parent Protect Care
2. Axis Max Life Smart Term Plan Plus
Best for: The strongest amount-settlement record in the set at 96.2%, with several plan variants to choose between.
- CSR: 99.3%
- Premium (age 30, male): ₹9,528/year (₹794/month)
- Payout options: Lump sum, monthly income for 10, 20 or 30 years, or a split of the two, chosen by the nominee at claim stage; the Income Protection variant pays a level income, which can step up 10% every three years before a claim but not after it
- Key feature: The Smart Cover variant pays 150% of the sum assured if death occurs in the first 15 years
- Riders: Critical illness (up to 64 conditions), accidental death and dismemberment, total permanent disability, waiver of premium
3. ICICI Pru iProtect Smart Plus
Best for: The widest choice of payout shape, fixed at purchase, and an established claim process.
- CSR: 98.5%
- Premium (age 30, male): ₹10,020/year (₹835/month)
- Payout options: Lump sum, monthly income for 10 years, a split of the two, or an income rising 10% a year, fixed at purchase
- Key feature: Raise cover 100% on a home loan, 50% on marriage and 25% per child, on Regular Pay policies; accidental death cover is the Life Plus variant
- Riders: Critical illness (a 20- or 60-condition package, fixed at purchase)
4. Bajaj Life eTouch II
Best for: Buyers who want a competitively-priced online plan with built-in flexibility.
- CSR: 99.2%
- Premium (age 30, male): ₹8,856/year (₹738/month) – the lowest of the five at this age
- Payout options: Lump sum, monthly income over 5 to 40 years, or part lump sum and part income, fixed at purchase
- Key feature: Early exit value returns every premium after 25 policy years and age 60 (Life Shield and Life Shield Plus only), plus a critical illness rider covering 10, 25 or 60 illnesses
- Riders: Critical illness, accidental death, accidental disability, Family Protect
5. Tata AIA Sampoorna Raksha Promise
Best for: Cover that can run to age 100, with ₹3 lakh paid within one working day of claim intimation.
- CSR: 99.5%
- Premium (age 30, male): ₹9,384/year (₹782/month)
- Payout options: Lump sum, staggered income for up to 30 years, or a combination, fixed at purchase
- Key feature: ₹3 lakh paid within one working day of claim intimation, on cover of ₹1 crore or more after three completed policy years
- Riders: Accidental death, accidental total and permanent disability, critical illness (Criticare, 40 conditions), under the Comprehensive Protection Rider
A note on Return of Premium. Several of these plans sell a "return of premium" variant that refunds your premiums if you outlive the term. We do not recommend them. They cost noticeably more than a plain term plan, and the money you get back has lost most of its value to inflation by the time you get it. Buy the plain term plan and invest the difference.
What to Look For in a ₹1 Crore Plan
1. Claim Settlement Ratio (CSR) Above 98%
CSR tells you what percentage of death claims the insurer actually pays. For term insurance, this is the single most important metric – you're buying a promise to pay.
| Insurer | Claim settlement ratio |
|---|---|
| HDFC Life | 99.6% |
| Tata AIA | 99.5% |
| Axis Max Life | 99.3% |
| Bajaj Life | 99.2% |
| ICICI Prudential | 98.5% |
Minimum threshold: 98% CSR. Below that, a meaningfully larger share of claims run into disputes before they are paid.
2. Flexible Payout Options
A lump sum of ₹1 crore can be mismanaged. Monthly income payouts ensure your family has a steady cash flow:
| Payout Type | How It Works | Best For |
|---|---|---|
| Lump sum | Full ₹1Cr paid at once | Loan repayment, one-time needs |
| Monthly income | Roughly ₹40,000–₹55,000/month for 15 years on ₹1 crore | Regular family expenses |
| Lump sum + monthly | Part lump sum + rest as monthly | Loan + expenses |
| Increasing monthly | Monthly payout increases yearly | Inflation protection |
Our recommendation: Lump sum + monthly income combination. Use the lump sum for clearing debts and monthly income for living expenses.
3. Essential Riders
| Rider | What It Covers | Worth Adding? |
|---|---|---|
| Accidental Death | Extra payout on accidental death | Yes – a small addition to the premium |
| Critical Illness | Payout on diagnosis of listed CI | Yes – covers treatment costs |
| Waiver of Premium | Premiums waived on disability/CI | Yes – ensures policy stays active |
| Terminal Illness | Advance payout on terminal diagnosis | Yes – most plans include free |
Don't skip critical illness rider. A cancer diagnosis can cost ₹15–₹30 lakh for treatment. The CI rider pays you ₹25–₹50 lakh on diagnosis, separate from the death benefit.
4. Cover Duration: Till 60 or Till 65?
| Cover Till | Premium Impact | Recommendation |
|---|---|---|
| Age 55 | Cheapest | Only if you'll be debt-free and financially independent by 55 |
| Age 60 | More than 55 | Best balance for most people |
| Age 65 | More again, and for more years | If you have large liabilities or late dependents |
| Age 70 | The most expensive | Rarely justified – cover becomes expensive |
nyvo's premium data prices cover till 60 only, so ask for quotes at each age on the same plan.
Standard recommendation: Cover till 60. By then, your children should be independent, loans repaid, and retirement corpus built.
Is ₹1 Crore Enough?
₹1 crore is enough only if your family's need adds up to ₹1 crore or less. Work the need out the way our guide to how much term cover you need does: add what your family owes, spends and plans for, then subtract what it already has.
| Component | What to count |
|---|---|
| Liabilities (A) | Every outstanding loan, in full |
| Income protection (B) | Annual household expenses × the 10–15 years your family would need support |
| Goals (C) | Costs you would want funded whatever happens, such as your children's education |
| Subtract (D) | Liquid assets, existing life cover and a working spouse's income |
Example: Household expenses of ₹8 lakh a year for 15 years (₹1.2 crore) + a ₹40 lakh home loan + ₹30 lakh for one child's education – ₹10 lakh of liquid savings = ₹1.8 crore needed. ₹1 crore is not enough here – consider ₹2 crore cover. The shortcut of 15 times your annual take-home pay is only a rough check on that sum.
Common Mistakes When Buying ₹1 Crore Term Insurance
1. Buying Only Because "₹1 Crore Sounds Like a Lot"
Calculate your actual need. For someone earning ₹20 lakh/year with 2 kids, ₹1 crore barely covers 5 years of income replacement. You likely need ₹2 crore+.
2. Choosing the Cheapest Plan Without Checking CSR
A ₹1,600/year saving is meaningless if the insurer settles a smaller share of the claims it receives. Most claims that fail do so because something was not disclosed at proposal stage, so a stronger settlement record usually reflects both cleaner underwriting at the start and fewer disputes at the end. The spread across these five plans is about ₹1,600 a year. Pay it for the insurer with the better record.
3. Skipping Riders to Save Premium
Critical illness and accidental death riders add a small amount to the premium for coverage that can pay ₹25–₹50 lakh when you need it most.
4. Not Disclosing Health Conditions
Non-disclosure is the #1 reason for term insurance claim rejection. If you have BP, diabetes, or any condition – disclose it. Paying a loading is better than a rejected claim.
5. Delaying the Purchase
Every year you wait costs you: premiums rise about 2–3% a year in your late twenties, 4–6% a year through your thirties and 5–9% a year between 40 and 45, depending on the insurer, and the higher rate is locked in for the whole term. A 30-year-old paying ₹8,856/year pays ₹10,824 at 35 for the same cover – 22% more, locked in for the rest of the term.
FAQs – ₹1 Crore Term Insurance
Which is the best term insurance plan for 1 crore?
No single plan is best for everyone. The five strongest ₹1 crore term plans in 2026 are HDFC Life Click 2 Protect Supreme Plus, Axis Max Life Smart Term Plan Plus, ICICI Pru iProtect Smart Plus, Bajaj Life eTouch II and Tata AIA Sampoorna Raksha Promise. All five settle at least 98.5% of individual death claims (IRDAI data, weighted average of the last three financial years, latest available as of March 2026), and Bajaj Life eTouch II is the cheapest at ₹738 a month for a healthy 30-year-old man (nyvo's own premium data, May 2026).
What is the cheapest ₹1 crore term insurance plan?
There is no single cheapest plan. Among the five plans on this page, the most expensive costs 14–19% more than the cheapest for the same healthy non-smoker (nyvo's own premium data, May 2026), and the ranking shifts with your age, health and rider choices. Compare three or four insurers on identical cover and tenure, then weigh the claim record before you decide on price alone.
How much does ₹1 crore term insurance cost?
₹8,856–₹10,440 a year (₹738–₹870 a month) for a healthy 30-year-old non-smoking man with cover till 60, a median of ₹9,528, and ₹7,536–₹8,880 a year (₹628–₹740 a month) for a woman, a median of ₹8,100 (nyvo's own premium data, May 2026). Individual life insurance has attracted nil GST since 22 September 2025, so there is nothing to add, and our ₹1 crore term insurance cost breakdown has the premiums for every entry age from 25 to 45.
Is 1 cr term insurance enough?
Only if your family's need adds up to ₹1 crore or less, and for a household carrying loans it usually does not. Work the need out from what your family owes and spends: outstanding loans, plus 10–15 years of household expenses, plus goals such as your children's education, minus liquid assets, existing life cover and a working spouse's income. Our guide to how much term cover you need has the worksheet.
Can I buy ₹1 crore term insurance online?
Yes. HDFC Life, Axis Max Life, ICICI Prudential, Tata AIA and Bajaj Life all offer digital term plans, usually priced below the equivalent offline policy.
Which insurer has the highest CSR for term insurance?
Of the five insurers on this page, HDFC Life (99.6%), Tata AIA (99.5%) and Axis Max Life (99.3%) have the highest claim settlement ratios (a weighted average of the last three financial years, latest available as of March 2026, from IRDAI's published data).
Source: Claim and complaint ratios are a weighted average of the last three financial years, latest available as of March 2026, from IRDAI's published data.
How do I work out how much term cover I actually need?
Add your outstanding loans, 10–15 years of household expenses and the goals you would want funded whatever happens, then subtract liquid assets, the life cover you already hold and a working spouse's income. Household expenses of ₹8 lakh a year for 15 years, a ₹40 lakh home loan and ₹30 lakh of education, less ₹10 lakh of savings, reach ₹1.8 crore. Fifteen times your annual take-home pay is only a rough shortcut; ₹1 crore is a common starting point rather than an answer, and for a household carrying loans it is usually short.
Related Guides
Book a call for advice on the best policy for you and your family
A salaried, IRDAI-certified nyvo advisor will look at your cover, flag the gaps that matter, and tell you plainly what to fix. No commission, no pressure.
A first in India
Buy policy from nyvo insurance with Claim Support Guarantee, otherwise money back.
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.
