Nobody wants their family to suffer financial instability if something happens to them, especially if they are the sole breadwinners. With a term insurance plan, the happy, stress-free moments of one’s life multiply because the policyholder has already set aside a comfortable financial cushion in case of an unfortunate event. A term insurance plan will help a policyholder’s family be financially okay even in his absence.

Here’ an example: Jeevan is a 35-year-old non-smoker who has purchased the Future Generali Flexi Online Term Insurance Plan of Rs. 1 crore for a 30-year term, which is also the premium paying term. He pays Rs. 9,263 (without applicable taxes) annually towards his insurance. After his death, the nominees of the policy (listed by him) will receive Rs. 1,00,00,000 as a one-time lump sum payout. The policy will end once the amount is debited.

Before learning how much a Rs. 1 crore term insurance plan costs, let us briefly understand what a term insurance plan is and its various benefits.

What is a term plan?

A term plan is a type of life insurance policy. It is a “pure risk cover”.

If you purchase a term plan, you will receive coverage for a pre-specified period of time, or a certain “term”. If the insured person dies within this specified term, then the nominee of the life insurance policy is eligible to receive a death benefit equal to the sum assured from the insurance provider.

For instance, if the term plan provides a sum assured of ₹ 1 crore for a policy term of 20 years, then the insurance provider is liable to pay that sum to the nominee of the term plan if the insured person dies on/within 20 years of policy term, subject to the terms and conditions of the policy contract.

A term plan is the best way to secure the future of your family at a nominal cost, particularly if you're the only breadwinner.

Why should you choose the Rs. 1 crore term insurance plan?

Buying a Rs. 1 crore term insurance plan gives the policyholder peace of mind. No matter what happens tomorrow, his children, spouse, and parents will lead the comfortable lives he wanted to give them. A Rs. 1 crore term insurance plan ensures that his family is financially stable and mentally at peace, even if he is not around to support them financially anymore.

Benefits of Rs. 1 crore term insurance plan

Term insurance plans have regained popularity. Customers have understood the need to provide long-lasting financial stability at affordable rates. They come with several benefits, such as:

  • Financial Security - If you are the sole provider for your family, you are in charge of providing for the needs of your parents, your spouse, and your kids. To ensure that you can provide for your family's financial needs even if you are not around, it is crucial for this situation to purchase a term insurance plan, which can be the provider like you, after you.
  • To Pay off Loans - You might have acquired many assets through loans, like a house, a business, a car, etc. You may be assured that your family won't be put at financial risk while you're not around because of the burden of these loans. Such loan(s) may be covered by the payout from the term plan in case of an unfortunate event.
  • To Be Ready for the Unexpected - Term plan will assist your family in meeting their long-term objectives and addressing routine expenses in your absence.
  • Option for Income Replacement - Additionally, the term insurance policy may be used to replace lost income. Instead of making a single payment to the nominee in the tragic event that the life assured passes away during the policy term, the dependent nominees may instead receive a number of monthly payments, quarterly payments, or other recurring payments. However, you will be able to use this feature only when the term insurance plan you choose offers it.
  • High coverage at a very low premium - Pay a small premium to obtain life insurance worth ₹ 1 Crore! Due to this, it is a wise choice for the family's primary earner who wishes to shield his or her loved ones from economic hardship in the event of an unfortunate demise but has a small budget to pay insurance premiums.
    For example, with a Future Generali Care Plus Term Plan, you can get a term plan of Rs 1 crore starting from ₹ 524 per month, subject to terms and conditions.
  • Accessible - Since the premiums on term plans are so affordable, a sum assured of Rs 1 crore will be accessible for a much larger pool of people. On the other hand, a cover of Rs 1 crore for an endowment plan will not be affordable for many people. Hence, term plans are an accessible and affordable way for anyone to protect their family against the uncertainties of life.
  • Complete Protection via Riders - By providing extra coverage, a number of riders can shield you from other risks like critical illnesses, disability, hospitalization etc.
  • Flexibility to choose the Policy Term (PT) and the Premium Payment Mode - The majority of term insurance policies often give policyholders the option to select the policy term and the frequency of premium payments (annually, half-yearly, quarterly, or monthly), depending on their needs and convenience.
  • Tax Benefits - According to the rules specified in the Income Tax Act, taxpayers may claim certain tax benefits. Tax benefits under Sections 80C and 10(10D) are the most claimed tax benefits. It should be noted that tax laws may change.

After going through the significant advantages of a term insurance plan, we must understand how much a ₹ 1 crore term insurance plan will cost. It is a fact that amid rising inflation, expenses have multiplied. Therefore, buying a ₹ 1 crore term insurance plan as early as possible provides a financial cover for the policyholder’s family to rely on during unfortunate times.

What is the cost of a ₹ 1 Crore term insurance plan?

Policyholders must know how much money they need to invest periodically to get higher returns. Let us understand it with an example from Future Generali Life Insurance. The plan’s name is Future Generali Flexi Online Term Plan, and to calculate the premium, we have considered the policyholder’s age as 30 years.

Plan Name Entry Age Policy Term Premium Payment Term Premium to be Paid (Annually/Monthly)

Future Generali Care Plus plan

For basic life cover and extra life cover plans -

18-65 years of age

20 years

20 years

Annually- Rs 7,186

Monthly- Rs 635

30 years

30 years

Annually- Rs 7,893

Monthly- Rs 697

40 years

40 years

Annually- Rs 9,025

Monthly- Rs 797

50 years

50 years

Annually- Rs 10,225 (Approx)

Monthly- Rs 903 (Approx)

Another term insurance plan from Future Generali Life Insurance is FUTURE GENERALI EXPRESS TERM INSURANCE PLAN, where the premium would remain almost the same but benefits, policy term, and premium payment terms are different. After looking at the benefits of both plans closely, you can decide the best term insurance plan for you. In the next section, let us see how to apply for a term insurance plan.

How to apply for a Rs. 1 crore term insurance plan?

To apply for a Rs. 1 crore term insurance plan through Future Generali India Life Insurance, follow these steps:

  • Visit our website to generate a quotation for yourself.
  • Fill in the application form and pay the premium online.
  • Submit all the documents online to complete the process.


Uncertainties are a part of life, and there is nothing much we can do about it. Therefore, term insurance plans are an excellent way to secure your family by fulfilling their financial requirements. If you want to know more about how much the Rs. 1 crore term insurance plan will cost, visit the Future Generali India Life Insurance for products and insightful updates.