Ask Value Research

Rs 1 crore term cover for a 45-year-old man

If you want additional benefits, you can add riders to your basic cover by paying extra premiums

I am a 45-year-old non-smoker looking for a cover of ₹50 lakh to ₹1 crore.
- Nihal Gandhi

Here are three plans you may consider buying. We have also provided the annual premium for you (45 years, non-smoker) for a ₹1 crore cover for 15 years (so that it will cover you till your retirement at 60).

Canara HSBC Life Insurance eSmart Term Plan: annual premium of ₹14,820 (claim settlement ratio of 95.06 per cent)

Max Life Online Term Plan: annual premium of ₹17,300 (claim settlement ratio of 98.63 per cent)

Tata AIA Life iRaksha Supreme: annual premium of ₹20,496 (claim settlement ratio of 95.99 per cent)

If you want additional benefits, you can add riders to your basic cover by paying extra premiums. Also, always remember to disclose all the details while filling proposal form to avoid any inconvenience in future while making a claim.

This article was originally published on March 30, 2016.

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