3 Crore Term insurance Plan

When it comes to safeguarding your family’s financial future, a 3 crore term insurance plan offers an unparalleled solution. Imagine securing a substantial life cover at an affordable cost. It is an affordable and effective way to ensure that your loved ones are financially protected, even in your absence. This type of high-coverage plan is especially beneficial for those with significant financial responsibilities, such as mortgages, children’s education, or family expenses. 

Ready to explore how a 3 crore term insurance plan can provide peace of mind? Let us dive into the details and help you make an informed decision. 

What is a Rs. 3 crore term insurance plan?

A term insurance plan is a type of life insurance policy that offers financial protection to your family in case of your untimely demise during the policy term. Unlike traditional life insurance, term insurance does not offer any maturity or survival benefits. Instead, it focuses on providing a substantial life cover at an affordable premium. 

A Rs. 3 crore term insurance plan is designed to offer high-value coverage, ensuring that your family’s financial needs are met even in your absence. The payout from such a plan can help cover: 

• Repaying large debts such as home loans or car loans. 
• Covering daily household expenses for an extended period. 
• Fulfilling long-term financial goals like children’s education or marriage.

For example, if you are the sole breadwinner of your family, a Rs. 3 crore term insurance plan ensures that your loved ones can maintain their lifestyle and meet future financial milestones without any disruptions. 

Low premium, high coverage - Term insurance offers financial security to you and your family at affordable price. Explore plans and get quote!

Not everyone requires high-value life insurance coverage. However, a Rs. 3 crore term insurance plan can be an ideal choice for individuals with significant financial responsibilities. Here are specific groups who should consider opting for this coverage: 

• Young professionals:
   

If you are in your 20s or 30s and have just started your career, this is the ideal time to lock in a high-coverage term insurance plan. Premiums are lower when you are young and healthy. This ensures that you can secure a Rs. 3 crore life cover at an affordable cost. 
 

• High-income earners:

For individuals with a high annual income, maintaining a lifestyle for your family that matches your current standard can be a priority. A Rs. 3 crore term insurance plan ensures that your family can continue to live comfortably, even in your absence. 
 

• Parents with dependents

If you are a parent, securing your children’s future is often a top priority. A Rs. 3 crore term insurance plan can cover key expenses such as education, healthcare, and even marriage. It provides the financial stability your family needs to thrive. 

Why it matters: Life is unpredictable, and planning for your family’s financial future is an act of love and responsibility. 

Find the perfect plan for your life stage today. Get quote and secure your family now!

Opting for a Rs. 3 crore term insurance plan comes with a range of benefits that make it a worthwhile investment. Here are some of the significant advantages: 
 

• Affordable premiums: 

High-value coverage does not have to mean high premiums. Term insurance plans are designed to offer substantial coverage at pocket-friendly rates. 
 

• Tax exemptions: 

Premiums paid towards your term insurance plan are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Moreover, the death cover received by your family is completely tax-exempt under Section 10(10D), ensuring your loved ones get the full financial support.
 

• Flexible payout options: 

You can choose how your family receives the payout—either as a lump sum, monthly income, or a combination of both. This flexibility ensures that the financial support aligns with their needs. 
 

• Financial security for major milestones: 

Whether it is paying off a mortgage, funding your child’s education, or covering daily expenses, a Rs. 3 crore term insurance plan provides comprehensive financial security.

Before purchasing a term insurance plan, it is essential to understand the eligibility criteria and factors that influence the premium amount. 

Eligibility criteria for 3 crore term insurance

To qualify for a Rs. 3 crore term insurance plan, you typically need to meet the following requirements: 

• Age: 

Most insurers offer term insurance to individuals aged 18 to 65 years. 

• Income: 

Your annual income should justify the high coverage amount. 

• Documentation: 

Basic documents such as proof of identity, address, and income are required.

Factors influencing premiums of term insurance
 

Several factors determine the premium amount for a Rs. 3 crore term insurance plan: 

• Age: 

Younger applicants enjoy lower premiums. 

• Policy tenure: 

Longer policy terms usually result in higher premiums. 

• Health history: 

Pre-existing medical conditions can increase premiums. 

• Lifestyle habits: 

Smoking or other high-risk behaviours may lead to higher costs. 

• Riders: 

Adding riders like critical illness or accidental death covers can increase the premium.
 

How to buy Rs. 3 crore term insurance online?

Purchasing a Rs. 3 crore term insurance plan online is a straightforward process. Here is a step-by-step guide to help you get started: 

• Request a quote: 

Visit the insurer’s website and fill in your basic details, such as age, income, and coverage amount, to get a premium estimate. 
 

• Customise your plan: 

Choose the policy tenure, coverage amount, and add-on riders that suit your needs. 

• Submit documents: 

Upload the required documents, including proof of identity, address, and income.
 

• Medical examination: 

Some insurers may require a health check-up based on your age, coverage, and medical history. 
 

• Review and pay: 

Carefully review the policy details and make the payment to activate your plan instantly.

Compare term insurance plans through Bajaj Finance Insurance Mall and get quote for the one that suits your budget and needs.

Conclusion

A Rs. 3 crore term insurance plan is more than just a policy; it is a promise to protect your family’s financial future. With affordable premiums, tax benefits, and flexible payout options, this high-coverage plan is an excellent choice for individuals with significant financial responsibilities. 

Do not wait for the right time to secure your family’s future—act now. Compare plans and secure your family’s future today. Get an instant quote in just minutes—it is fast, free, and easy!

Term and life insurance plans by sum assured