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Best 1 Crore Term Insurance Plans from LIC

It is always recommended to purchase a term plan when you are at your young age. But, even if you are old, you can make one purchase after learning the important aspect of a term plan . Well, a term insurance plan is noted to be a pure protection plan, which will help the policyholder’s dependents by providing source of funds whenever emergency strikes. In case you are the only bread earner in your family, it is always important to invest in the LIC Term Insurance plan of 1 Crore. It will be the ultimate financial security for your family members.

Not just this 1 crore plan, but you have other options under the affordable LIC Term Plan. All of them will have an assured sum of 1 crore rupees and you can consider anyone of them, as per your needs.

Some points to determine before opting for term insurance:

Now, this is the first question that pops up in your mind. What points must every individual know about before investing money on term insurance? Well, some of the points mentioned below might help you find the right answer.

  • Well, the premium over here will get decided on the age when you plan to purchase LIC Tech Term Insurance Plan - plan that offers the required financial protection.
  • Premiums are likely to increase by around 4 to 8% every tear, right after your birthday.
  • Well, there are chances of your policy application to get rejected or the premium to get increased by 50 to 100% in case you come across lifestyle diseases.

More about the LIC insurance 1 crore:

The LIC Tax Saving Plans of 1 crore rupees is one insurance policy, which will guarantee to pay sum of this said amount to the policy nominees when the insured person dies. This plan will offer the right kind of financial backup that the family needs of the insured person.

  • But, the main goal of this insurance plan will be the same much like other plans, which is compensating the dependent members of insured with a large sum of 1 crore rupees.
  • With the rising inflation everywhere, it might be quite difficult to pay for the daily expenses if you don’t have a proper term insurance cover.
  • Moreover, you have the added cost of the education, medical expenses and marriage, which will prove to be a financial burden, if the only bread earner passes away.
  • But, if the bread earner got this 1 crore rupees life insurance plan, then the family members do not have to worry about the monetary issue at all.

These are some of the reasons on why LIC Best Plan of 1 crore rupees came into the market. This higher sum will assure a reasonable premium. So that makes this policy one important point to think about for sure. Not just the affordable premium, but there are various other benefits that the policyholders and the beneficiaries will enjoy over here with this plan.

The term insurance plans with such higher sum amount of 1 crore rupees:

Well, let’s not forget that the term plan is the basic form of life insurance policy you will come across. It solely ensures that the policy holder’s family members are given the said compensation in case of the policy holder’s death within the selected duration of the term insurance policy.

  • Along with all the death benefits, there will be some other rider benefits that the LIC term insurance will offer like critical illness cover, accidental death benefit, payment of death benefits in installments and terminal illness cover.
  • Some people might look for term plans, where NRIs will be covered as well. But, there is something more associated with 1 crore life insurance policy from LIC that needs to be taken care of.
  • There are mostly three different types of LIC I crore policies, which will match various needs of the customers. You can select the policy depending on the needs and requirements.
  • Those three options over here are LIC Tech Term, LIC Jeevan Amar and LIC Amulya Jeevan 1.

Amulya Jeevan 1:

This is one LIC term insurance plan of the said 1 crore amount. It will provide death benefits to the nominees during the ultimate demise of the insured person within the policy terms. Here, the term insurer needs to pay the Sum assured to the beneficiaries to keep the policy in force.

  • Here, the assured will increase and for procuring this plan, your minimum entry age will be of 18 years.
  • The maximum entry age is 60 tears and the maximum maturity age will be of 70 years.
  • The minimum amount needed for this term insurance policy is 25 lakhs without any upper limit.

Jeevan Amar LIC Plans:

This is one non-linked, offline and pure protection LIC term insurance coverage without any profit. This policy will offer the money to the family of the insured person in case any unfortunate incident took place during the tenure of the policy. It is a complete protection plan, which will offer cover at economical premiums.

  • Here, the minimum entry age will be of 18 years and the maximum entry age is 65 years.
  • The maximum maturity age is of 80 years.
  • Even here, the minimum sum assured is 25 lakhs without any upper limits.
  • The insurance policy will range anywhere from 10 to 40 years.

LIC Tech Term Plan:

It is one non-participating, pure risk and non-linked premium plan. Here, you get to secure the future of the family with a sum amount of 1 crore and more than that if you want. This plan is an online LIC 1 crore policy plan that can be purchased anytime you want.

  • The minimum and maximum entry age will be 18 and 65 years respectively.
  • The maturity age is 80 years.
  • The minimum basic sum is 50 lakhs without any upper limits.
  • The policy term option can range between 10 and 40 years.

Checking out these plans in details will actually help you to learn more about the 1 crore policies from LIC department.