In this day and age, women are playing a very pivotal role in their family financial stability. But they often overlook their contributions and importance. Term insurance has been easily available for men for many years as it used to be believed that men would be the only earning member of the family. However, the situation is different now and women can also get specific term insurance plans due to their contribution to building a family.
However, according to certain data, only 50% of women are covered under insurance policies. On the other hand, more than 75% of men are covered under various insurance policies.
Term insurance plan is designed to serve the dual intent. First, it provides death benefits to the insured and secondly ensures financial stability to his/her family after death during the policy term. A 1 Crore term plan for women is a typical term policy that guarantees to pay a sum assured of 1 Crore to the nominee on the death of the insured. This 1 crore insurance product performs as a financial caretaker for the family of the policyholder. It inspires them to fulfill their financial needs and goals.
Learn about 5 1 Crore Term Insurance for A 25-year-old Female.
HDFC Life Click2 Protect Plus Plan
HDFC Life Click 2 Protect Plus is the right product if you are searching for the best 1 Crore insurance plan. The plan has been designed to strengthen the protection of your family by offering a 1 Crore sum assured amount.
Regarding some intriguing features, you can buy this term plan in four options, including Life, Extra Life, Income, and Income Plus Option. The minimum entry age to buy the plan is 18, and the maximum age is 65 years. The maximum maturity age under HDFC Life Click 2 Protect Plus plan is 75 years.
The plan offers rider benefits, such as
- critical illness or accidental disability
- You can choose the plan between single premium and regular premium payment option
- Women can enjoy special premium rates
Bajaj Allianz iSecure Term Assurance Plan
This non-participating term plan offers a term assured of Rs. 1 Crore and above. It enables you to provide the required financial security for your family. It offers life cover at a low premium, with the option to receive the death benefit in installments to meet their financial needs.
This plan is available in three variants – basic life cover, basic life cover with monthly income, and basic life cover with increasing monthly income. You can buy this plan at different premium rates:
- Preferred Non-Smoker, Non-Smoker, and Smoker for a minimum sum assured of Rs. 20 lakhs.
- The minimum entry age is 18 years, and the maximum age is 60 years
- 28 years is the minimum maturity age whereas 60 years is the maximum maturity ages
Women are able to get rider benefits under the plan. These riders include:
- Accidental death benefits rider
- Waiver of premium benefit rider
- Accidental permanent total & partial disability benefit rider
Aegon Life i-Term Insurance Plan
Aegon Life item is another Best 1 Crore Term Insurance plan for women that is designed to ensure ultimate protection to the family. It covers till the age of 100 years. The policy offers a lump sum payout on the diagnosis of 36 Critical Illnesses. When it comes to females and non-smokers, a low premium is offered. You can buy this plan in three variants: Life Protect, Protect Plus, and Dual Protect.
- Life protect variant – Life cover + 100% payout on Terminal Illness + increased life cover at essential life stages is available
- Protect Plus variant – Life cover increases by 5% every year with no increment in premium cost + 100% payout on Terminal Illness
- Dual protect variant – Life Cover + 100% payout on Terminal Illness + regular monthly income starting from 60 years of age till maturity.
ICICI Prudential iCare II Term Plan
This 1 crore term insurance policy by ICICI Prudential offers a plethora of benefits and features. For example, 18 years is the ministry entry age whereas 60 years is the maximum age limit. There is an option to select the plan from two premium payment options:
- Regular Pay
- One Pay
The surrender value can be availed by choosing the One Pay premium payment option. You can get an accidental death benefit with iCare II Option II. This is equal to the sum assured. However, the insurer under this plan will not provide any maturity benefit.
LIC Tech Term Plan
This is another plan in the list of Best 1 Crore Term Insurance for a Female. Designed to offer 1 Crore coverage to policyholders, this term plan is a non-linked online term product. It provides policyholders with two benefits options:
- Level Sum Assured
- Increasing Sum Assured
Besides, the plan can be had at different premium payment options, such as Single-Premium, Regular Premium, and
Limited Premium Payment. Special premium rates are available for women. Also, you can enjoy a rebate on high sums assured. LIC Tech Term Plan comes with two categories when it comes to premium rates. These categories are-
- Non-Smoker rates
- Smoker rates
The rider benefit option under the plan increases coverage on paying additional premium payments. You can choose it for Rs. 1 Crore term insurance amount as there is no limit on the maximum sum assured under the plan. No maturity benefit is available on survival.
Conclusion
These are many of the best 1 crore term insurance for a 25-year-old female. However, it is always recommended to check the policy details thoroughly before selecting any policy in order to choose the most suitable term plan for your financial needs.