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What Does Life Insurance Of Rs. 1 Crore Cost?

Team BankBazaar

Term insurance can be defined as a type of pure insurance availed for a fixed number of years. The basic differentiating feature of term insurance is that unlike other types of life insurance policies, it costs less, and has no cash value or investment benefit. It provides financial protection to the insured person’s nominees in case of his untimely death. Term insurance policies are offered by almost all major insurance providers and these come for various terms like 10 years, 20 years, 30 years etc.

Let’s take a look at what these policies cost.

What Does A Term Insurance Plan Cost?

Data pertains to term insurance cover for a 30-year-old, salaried, non-smoker male, residing in Bangalore, earning Rs. 5 L annually, for a 30 year term. Data as on November 06, 2018. Data compiled by BankBazaarInsurance.com

Insurance Company  Name

Premium Costs for Sum Assured of Rs 1 Cr

Premium Costs for Sum Assured of Rs 50 lakh

Edelwiess Tokio Life – Zindagi Plus INR 7,159 INR 4,207
Canara HSBC OBC Life Insurance – Iselect INR 7,379 INR 4,203
Aegon Life – iTerm INR 7,497 INR 4,223
Reliance Nippon Life Online Term Plan INR 7,687 INR 4,231
DHFL Pramerica – FlexiETerm INR 8,149 INR 4,569
Bharti AXA Life Flexi Term Plan INR 8,260 INR 4,543
Future Generali Life – Flexi Online Term INR 8,353 INR 4,900
Max Life Online Term Plan Plus INR 8,378 INR 4,720
Aviva i-Life Term Plan INR 8,694 INR 4,868
PNB MetLife Mera Term Plan INR 8,756 INR 5,428
Kotak e-Term Plan INR 8,968 INR 5,546
IDBI Federal – iSurance Flexi Term Plan INR 9,251 INR 5,050
Aditya Birla Sunlife – DigiShield Plan INR 9,523 INR 5,452
HDFC Life Click2Protect INR 9,717 INR 5,550
ICICI Prudential Life – iProtect Smart – Life INR 9,740 INR 5,562
Shriram Life Online Plan INR 9,763 INR 5,177
Exide Life Elite Term Plan INR 9,810 INR 5,938
Bajaj- eTouchOnline- Shield INR 10,371 INR 6,168
SBI Life- eShield INR 11,092 INR 6,372
IndiaFirst Life Insurance- Life Plan INR 12,036 INR 6,018
TATA AIA – Maha Raksha Supreme- V2 INR 13,000 INR 7,500
LIC e- Term Plan INR 15,850 INR 7,925
Star Union Dai-ichi- SUD Life Premier INR 18,172 INR 10,384

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