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Which is The Best 1 Crore Term Insurance for A 25-year-old Female?According to a survey, only 50% of women in urban India have insurance compared to 75% of men who are covered under insurance. 07-November-2024

According to a survey, only 50% of women in urban India have insurance compared to 75% of men who are covered under insurance. What could be the reasons? There could be various reasons behind the stark difference. One basic reason is that earlier, men were the only people to earn for the rest of the family. So, term insurance for males in this situation was essential as the policy ensures the security and well-being of the family after the unfortunate demise of the bread earner.

However, with the progressive shift in today’s society, women are also playing important roles in taking care of their families. Unfortunately, many studies have indicated that women are more prone to critical illness. Hence term insurance for females is important.

1 Crore Term Insurance for Female

A 1 Crore term insurance plan for females is a type of policy that comes with the sum assured of the mentioned amount. The plan guarantees to pay the sum assured to the nominee on the death of the insured. In general, a term insurance policy is designed to serve the dual intent of providing death benefits to the insured and ensuring financial stability to their family in case of their unfortunate death during the term insurance policy.  This insurance product works as a guardian for the family of the policyholder by helping them to fulfill their financial needs and aspirations.

Best 1 Crore Term Insurance Plans for 25-Year-Old Female

Term insurance companies in India offer a wide range of term insurance policies that can be easily customized to meet the requirements of women. The cost of premium, benefits and policy features may differ from one term insurance to another. The basic amount of premium applies only to those applicants who do not have any record of alcohol addiction or existing diseases.

The premium amount increases when the policyholder has some health or medical issues, history of lifestyle disease, smoking or drinking habit, and opt for some rider benefits. Take a look at the below plans and select the one that works the best for you. This includes some of the best Rs. 1 Crore Term Plans a woman can buy.

Bajaj Allianz iSecure Term Assurance Plan

Bajaj Allianz iService Term Assurance Plan is a non-participating term assurance product that is designed to offer a sum insured of Rs 1 crore and more. You can buy three variants under this plan, basic life cover, basic life cover with monthly income, and basic life cover with increasing monthly income. Listed below are unique features of the Bajaj Allianz iService Term Assurance Plan.

  • The policy offers various premium rates for the lifestyle categories, such as  Preferred Non-Smoker, Non-Smoker, Smoker for a minimum sum assured of Rs. 20 lakhs
  • The minimum entry age to buy iService Term Assurance is 18 years
  • Whereas the maximum age is 60 years
  • The minimum maturity age is 28 years
  • 70 years is the maximum maturity age

Above all, women can enjoy rider benefits under the plan, such as

  • accidental death benefits rider
  • waiver of premium benefit rider
  • accidental permanent total/partial disability benefit rider

There are no maturity /surrender benefits under the plan.

HDFC Life Click2 Protect Plus Plan

HDFC Life Click2 Protect Plus Plan is an online term insurance plan that presents financial independence to your loved ones. Some of the useful benefits of this Rs. 1 Crore term life insurance plan include the following

  • The term of the policy ranges from 10 years to 40 years
  • The policy offers you 4 plan options – Life, Extra Life, Income and Income Plus Option
  • ‘18 years’ is the minimum entry age whereas the maximum age is 65 years
  • The maximum maturity age under this Rs.1 Crore term plan is 75 years
  • The plan comes with rider benefits such as critical illness or accidental disability
  • It also gives you the option to choose the plan between single premium and regular premium payment option

Aegon Life i-Term Insurance Plan

  • Aegon Life i-Term Insurance Plan covers till the age of 100 years.
  • Under this plan, you can find three variants: Life Protect, Protect Plus, and Dual Protect
  • Life Protect Variant offers life cover with increasing life coverage at the important state of life and terminal illness cover
  • The life cover increases every year by 5% in the Protect Plus variant without any additional premium. Terminal illness cover is another benefit.
  • Dual Protect variant life provides you coverage with a terminal illness
  • It also offers monthly payouts from the age of 60 years till maturity

One of the features of Aegon Life i-Term insurance is that it rewards you if you live a healthy lifestyle by quitting smoking during the policy term. Survival benefits under the policy are also available at the Life Protect and Protect Plus plan.

LIC TechTerm Plan

LIC Tech Term Insurance Plan by LIC of India is a non-linked pure protection online plan. It is designed to offer Rs. 1 Crore term assurance policy coverage with the following features:

  • The minimum entry age is 18 years
  • The maximum entry age is 65 years
  • The maximum age of maturity is 80 years
  • The minimum sum assured is Rs. 50 lakh
  • No limit on the maximum sum assured under the plan
  • So, you can opt for Rs. 1 Crore term insurance amount
  • A grace period of 30 days for regular and limited premium payment is available
  • The plan comes has several riders
  • It also offers an option to take death benefit in installment

Note that the LIC Tech Term Insurance Plan is 10 to 40 years. It does not offer maturity benefits on survival

ICICI Prudential iCare II Term Plan

This 1 crore term insurance policy of ICICI Prudential comes with multiple benefits and features. Some of the mare as follows:

  • The minimum for one pay premium option is 18 and 60 years is the maximum age limit
  • The maximum maturity  age is 65 years for One Pay Option
  • For Regular Pay Option I, 85 years are the recommended age
  • ‘80 years’ is for Regular Pay Option II
  • The plan also gives you the option to choose a plan from two premium payment options: Regular Pay and One Pay
  • 5/10 year is the policy term for the One Pay premium option
  • Regular Pay, 5-67 years are the age
  • The accidental death benefit is available with iCare II Option II i.e. equal to the sum assured

There is no maturity benefit under the policy. But you can choose the One Pay premium payment option to get the surrender value.

The bottom line is that there are several term insurance for a 25-year-old female. Choose a plan that is offered by the best insurance companies in India.  For details about the policy, it is strongly recommended to go through the policy wordings. Don’t choose any plan without reading the policy wording and understanding the policy correctly.