₹2 Crore Term Insurance Plan
The pandemic of 2020 highlighted our vulnerability and the need for financial security through insurance. A 2 Crore term insurance plan offers comprehensive protection for your loved ones in case of health emergencies or your untimely death.
Investing in a 2 Crore life insurance policy is ideal for those who want to ensure their family's financial security in their absence. Financial planning with a 2 Crore term insurance policy ensures that your loved ones are taken care of, providing peace of mind and overall protection.
Highlights of a 2 Crore Term Insurance Plan
The sum assured decreases with an increase in the policyholder’s age
The sum assured remains the same throughout the term of the plan
Allows you to convert the policy into another type of insurance plan later on
Option to increase the sum assured at certain milestones during the term of the policy to meet specific financial goals
Returns all the premiums paid by the policyholder if they outlive the term of the policy
Most Popular 2 Cr Term Insurance Plans
Rs. 2 Cr. Term insurance plan |
Policy Duration |
Entry Age (Minimum) |
Entry Age (Maximum) |
Add on Coverage benefit |
Age of Maturity |
|---|---|---|---|---|---|
Aviva i-life total |
4 plans:
Protect - 10 - 57 yrs
Protect Plus - 10 - 57 yrs
Protect Assured - 15 - 30 yrs
Protect Income - 10 - 57 yrs
|
18 years
|
65 years
|
Riders on critical illness, complete disability, terminal illness
|
70 yrs with rider. 75 yrs, without rider
|
Aegon life i -term insurance policy |
5 - 40 yrs
|
18 years
|
65 years
|
Add-on, accident benefit death,premium waiver
|
70 yrs
|
Bajaj Allianz iSecure term assurance plan |
Varies from 10 - 30 years
|
18 years
|
65 years
|
Premium waiver, disability waiver, accident death benefit
|
28 yrs min to 70 yrs max
|
Canara HSBC iSelect + Term plan |
Varies depending on plan from 5-62 yrs
|
18 years
|
65 years
|
N/A
|
80 yrs, 75 yrs
|
Edelweiss Tokio Life Total Secure+ |
Varies as per plan from 10- 62 yrs
|
18 years
|
65 years
|
Premium waiver, disability waiver, accident death benefit
|
80 yrs, 75 yrs
|
Future Generali Flexi Online term plan |
2 plans: basic 10-75 yrs and
income protection 10-65 yr
|
Basic - 18 yrs Income protection - 25 yrs
|
Basic - 55 yrs Protection - 55 yrs
|
Accident death benefit rider
|
75 - 65 yrs
|
HDFC Life Click to protect Plus plan |
10-40 yrs
|
18 years
|
65 years
|
Accidental and critical illness cover
|
75 yrs
|
ICICI Prudential ICare II Term plan |
Varies between 5-67 yrs
|
18 years
|
65 years
|
available
|
65, 80 and 85 yrs
|
Best ₹2 Crore Term Insurance Plans Providers
Best ₹1 Crore Term Insurance Plans Providers
Sahi Advice,
Sahi Insurance
If you have any questions on how to choose the best insurance plan, you can connect with our IRDAI certified insurance advisors.
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2 Crore Term Insurance Plans Everything You Want to Know
There are a plethora of best health insurance companies in India offering some of the most cost-effective policies to take care of your complete health. In fact, many such companies present an impressive number of health plans all-encompassing the different needs of people. These customer centric insurance companies provide many attractive plans every year to attract customers year after year.
However, the availability of several insurers make it difficult for the common people to select the one best insurance company in India from the wide list of policy providers. Thus, it becomes a task for the common people to compare and analyze the different plans so that they can select a particular option suiting their requirements completely. Of course, it is not possible for a single insurer to fulfill the needs of everyone. Thus, it depends on individuals to check the various benefits of plans and the personal needs of the insured before selecting the best suitable policy.
Here we have listed down some of the top health insurance companies in India and their details to help you make your decision easy.
Key Benefits and Features of 2 Crore Term Insurance Plans in India
Benefits of 2 Cr Term Insurance in India
They are cost-effective and easy on the pocket. The 2 Crore term insurance premium doesn't make a hole in your pocket and is within your reach. Further, these plans allow the added benefit of long-duration savings.
Term insurance 2 crore allows the insured to enjoy tax deductions under section 10D of the Income Tax Act. So, the premium you pay on term plans as well as the sum you receive as death benefit are not levied any tax. In other words, irrespective of the term insurance amount, the payout and bonuses of term plans are tax-free
The 2 crore term plans offered by numerous insurance companies come with riders or add-on coverage options. Various riders are available with Rs 2 crore term plans, such as Accidental Death Benefit, Maturity/Survival Benefit, Return of Premium Variant, and Customized Term Plans.
Depending on the insurance providers, the payouts can be received in a lump sum or other options. It also depends on the financial requirements of the beneficiary. Also, the option of combining the lump sum and monthly payout is available with a term insurance of 2 crore.
Features of 2 Cr Term Insurance Plans in India
Discounts offered on high sum assured term life insurance plans
Can be paid in a lump sum or as a monthly income
Offers long-term protection to the policyholder and their loved ones
Tax benefits offered under the plan
2 Crore Term Insurance Plans - Inclusions
Critical or terminal illnesses
Natural death or due to a medical condition
Death benefit to the nominee due to untimely death of the insured
2 Crore Term Insurance Plans - Exclusions
Pre-existing health conditions
Suicide or attempt to suicide
Death due to war or acts of terrorism
Pregnancy and childbirth expenses
How To Choose The Right Term Insurance Plan?
Choosing the right 2 crore term insurance plan depends on numerous factors including personal factors. Of course, the premium rate is the primary thing to consider here, which is decided as per the policy duration. The age at which you buy a policy decides its premium. Furthermore, there are other important factors to consider, such as add-on coverage, which also impacts the premium.
In the table below, we compare the premium rate of term insurance for a 2 crore plan depending on the age of the insured as well as add-on coverage.
To calculate the figures, we are considering factors like gender + age + habit + annual income, etc. Here, it is Male + DOB + non-smoker + 7-10 lakh annual income + coverage up to 75 years + 5% discount + GST not included + critical illness and disability rider add-on. The sum insured is 5 lakh rupees for 75 years.
Age |
Monthly premium - 1 cr term |
Monthly premium of 1 cr term + 1 critical illness rider |
Monthly premium of 1 cr term + return of premium option |
|---|---|---|---|
20 |
₹ 652
|
876
|
₹ 1336
|
30 |
₹ 1006
|
₹ 1350
|
₹ 2309
|
40 |
₹ 1807
|
₹ 2389
|
₹ 3570
|
50 |
₹ 3584
|
₹ 4520
|
₹ 8161
|
60 |
₹ 7183
|
₹ 8867
|
₹ 19,524
|
In the above plan (Smart Secure Plus Plan by Max Life), the insured receives death benefit along with the below-mentioned benefits:
- Terminal Illness Benefit added with the plan of up to 2 cr payout (if diagnosed with a critical disease).
- A Surrender Plan offer is also available where the insured can get back all the premiums at a particular point during the policy term.
- Another benefit is the premium break option which is a unique feature that permits the insured to skip paying premiums two times during the term of the policy.
- The policy allows the insured to add his/her spouse to the plan.
All such 2 cr term plans serve as excellent financial tools that allow the insured to receive the highest financial security and benefit the dependent members of the family.
Factors Affecting 2 Crore Term Insurance Plans Premium
- Gender of the insured
- Overall health condition of the insured
- Age of the insured
- Their profession/occupation
2 Crore Term Insurance Plan Claim Procedures
Documents for Claiming 2 Crore Term Insurance Plan
Ask Anything as We Have Answers to Everything in Insurance
Yes, you can claim a term insurance plan from two companies as it is legal to buy a term or life insurance policy from two different companies. The insured can buy term insurance from two insurers and pay the premium regularly to secure the future of his/her family.
Buying insurance through PayBima is a quick and easy process. Just fill in your basic details and get instant quotes from leading insurance companies. Compare among the various plans on offer and choose the one that best suits your requirements. Fill up the proposal form, make payment and your policy will be issued instantly.
PayBima focuses on bringing you all the information you need about insurance policies under one umbrella. You can find terms and conditions on different policies in an easy-to-read format.
- When you fill-up the proposal form, a host of diverse policy options are brought to you. You can explore them at your own pace and shortlist the ones best suited to your insurance needs. The website offers you a wide range of options for insurance policies to choose from with a stress-free buying experience.
- Once shortlisted, PayBima allows you to compare insurance online to see their benefits and shortcomings. Choose the one that offers you the maximum benefits. After finalising the best policy for yourself, you need to fill in your additional details. You can make payment and buy the policy on the PayBimaportal without being directed to any other website.
