Term plans are simple, but when the sum assured is Rs. 20 crore, the process and benefits become even more valuable. Here's how it functions:
You pay a fixed premium for a selected term. If anything happens to you within that period, your nominee gets Rs. 20 crore. If you outlive the policy, there’s no payout, unless you opt for return of premium in term insurance.
Here’s what you choose at the start:
Based on your age and goals, choose coverage of 20 to 40 years. The younger you start, the longer and cheaper the protection.
Opt for a one-time lump sum, staggered monthly income, or a hybrid—depending on what your family can manage best.
Add-ons like critical illness, accidental death, and waiver of premium offer enhanced protection for life’s uncertainties.
Pick a mode that suits your cash flow—monthly, annually, or even limited pay for early completion.
Check all plan features tailored to your life stage → Compare plan options here and get quote!
Key benefits of getting a 20-crore term insurance policy
The number may sound large, but it’s not just about size—it’s about impact. A 20-crore term plan brings more than financial support; it brings time, stability, and emotional security to your family.
Key advantages:
Low premium for high coverage:
Because it’s pure protection, you can get 20 crore cover for a small monthly outgo—ideal if bought early.
Premiums paid may qualify for deduction under Section 80C, and the death cover is generally exempt from income tax under Section 10(10D), subject to conditions specified in the Act.
High claim settlement ratio:
Most leading insurers have 98%+ settlement rates, offering peace of mind that your family will receive the promised benefit.
Flexibility in riders and payout:
Customise the plan to include riders or select payout formats that match your family’s financial habits.
Option for Return of Premium:
Don’t want to lose your premiums? Get the full amount back if you survive the term, for a slightly higher cost.
Tips to choose a 20-crore term insurance policy
Choosing a high-value term plan means going beyond price. You need to balance affordability with flexibility, coverage and future planning.
Here are ways to pick the most suitable 20 crore plan:
Selection checklist:
Choose the right insurer:
Focus on claim settlement record, financial strength, and digital support.
Match term with your retirement age:
Ensure the policy protects you through your working years, ideally till age 60–70.
Go for income + lump sum payout:
A hybrid model ensures your family gets immediate relief plus sustained monthly support.
Riders like critical illness or accidental death provide extra coverage without a separate policy.
Use return of premium if unsure:
It’s a good fallback if you are uncertain about investing your premiums elsewhere.
Compare premiums based on these tips and Get Quote!
Key factors to consider when buying a 20-crore term insurance policy
There are a few essential factors to think about before signing on the dotted line. It’s not just about the amount—it’s about the impact.
Think through:
Your current income and liabilities:
Make sure the sum assured fits your financial commitments and replaces your income effectively.
Your age and health status:
The younger and healthier you are, the cheaper the premium and smoother the approval process.
Family’s awareness of finances:
Choose a payout format that your nominee can easily manage—especially if they’re not financially savvy.
Premium payment flexibility:
Flexi-pay options let you adapt premiums to your cash flow, reducing long-term strain.
Choose insurers offering digital-first processes for faster, smoother claims.
Begin your policy planning today → Check plans, premiums and get quote in a few minutes!
When should you buy a 20-crore term insurance policy?
The earlier you buy, the better the benefits. Premiums are lower, approvals are easier, and you get longer coverage.
Ideal time to buy:
Maximise affordability and coverage length by locking in low premiums early.
After major life milestones:
Marriage, becoming a parent, or buying a home are key triggers to reassess protection needs.
When starting or scaling a business:
Protect both personal income and business liabilities with a strong cover.
Post salary hikes or promotions:
Align your sum assured with your increased earning power and future goals.
When children start school:
Long-term education goals can be financially safeguarded with a large cover in place.
Conclusion
A 20-crore term insurance plan gives you peace of mind and your family the financial freedom they deserve. It’s not just about protection—it’s about preserving dreams and building legacies.
Ready to protect what matters most? Compare plans, get quote, and apply online now!