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8 Crore Crore Term Insurance Plan

8 Crore term insurance plan provides a high sum assured at low premiums. Know the features, benefits, and how to choose the right plan for your needs.

Choose from a wide range of term insurance plans, starting at Rs. 15/day*

Published Sep 3, 2025 3 Min Read

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An 8-crore term insurance plan provides significant financial protection for individuals with substantial responsibilities or long-term financial aspirations. Tailored for high-value coverage, these plans offer flexibility in premium payments and the option to customise through add-ons. This article explores the benefits, premium structure, rider importance, and tips for selecting the right 8 crore term insurance plan to suit your needs.

What is an 8-crore term insurance?

An 8 crore term insurance plan is a high-value life insurance policy that offers your family financial protection worth Rs. 8 crores in case something happens to you during the policy term. This kind of coverage is ideal for individuals with high-income levels, large liabilities, or those who want to leave behind a strong financial legacy. With increasing lifestyle costs, loans, and responsibilities, an 8 crore term insurance policy ensures your loved ones are covered for everything—from daily expenses to long-term goals like education, retirement, or home loans. It’s a safety net that offers peace of mind and financial confidence.

Who should buy 8 crore term insurance plans?

Not everyone needs such a high cover, but if your lifestyle and responsibilities demand it, an 8 crore term insurance plan can be a wise move. Here’s who it suits best:

  • High-earning professionals: CXOs, doctors, lawyers, and IT leaders earning Rs. 50 lakh+ annually can secure their family’s future with a robust plan.

  • Business owners and entrepreneurs: For those managing large teams or carrying business liabilities, this plan provides continuity for the family and business alike.

  • HNI investors or startup founders: Those with multiple assets, ventures, or investment obligations can use this policy to cover future risks.

  • Individuals with significant financial dependents: If your family, parents, or extended dependents rely on you financially, this cover ensures they’re protected for decades.

  • Those with high-value loans: If you have large home loans, business loans, or education loans, an 8 crore term insurance helps your family repay them stress-free.

Choosing the right coverage means matching your income and risk profile—8 crore term insurance plans are built for those with bigger responsibilities and bigger dreams.

Why should you buy an 8-crore term insurance plan

Choosing an 8-crore term insurance plan is ideal for individuals looking for extensive financial security. Here are the reasons why it is a valuable option:

  • Comprehensive financial protection: Provides a substantial safety net to cover large expenses like home loans, education, or medical emergencies.
  • Secures future goals: Helps your family achieve long-term aspirations, such as higher education or homeownership, even in your absence.
  • Affordable premiums: High-value coverage plans often come with competitive premium rates, making them accessible to individuals in various income brackets.
  • Customisable options: Riders like critical illness or accidental death benefits enhance the plan’s coverage, tailoring it to meet specific needs.
  • Tax savings: Premium payments qualify for deductions under Section 80C of the Income Tax Act, while the death cover is usually tax-free under Section 10(10D).

When to buy 8 crore term insurance?

Timing matters when it comes to life cover. Buying an 8 crore term insurance policy early gives you lower premiums and longer-term protection. Here are ideal times to consider it:

  • In your late 20s to mid-30s: Lock in low premiums and get long-term coverage when you’re young and healthy.

  • When your income significantly increases: If your salary crosses Rs. 50–70 lakhs annually, it’s time to upgrade your coverage.

  • After major life milestones: Getting married, having a child, or starting a business? Your responsibilities grow—and so should your cover.

Smart planning today means stress-free living tomorrow. Start exploring 8 crore term insurance plans as soon as your lifestyle and income justify it.

Ideal income brackets for choosing an 8 crore term insurance plan

Wondering if 8 crore term insurance policy is right for your income level? Here's a guide to help you decide:

  • Rs. 50–70 lakh annual income: If you're in this bracket, Rs. 8 crore coverage offers 12–15x income protection—ideal for maintaining lifestyle and future stability.

  • Rs. 1 crore+ annual income: For ultra-high net worth individuals (UHNIs), this cover protects long-term goals, investments, and liabilities.

  • Professionals with large financial commitments: Even if your income is slightly lower, but your responsibilities are high (business loans, high EMIs), 8 crore term insurance plans can be justified.

  • Joint income households: If both spouses earn and want to secure a joint legacy, one person opting for Rs. 8 crore can balance the family’s future needs.

Ultimately, the right coverage isn't just about income—it's about responsibility. The higher your commitments, the more important this kind of policy becomes.

Things to consider before buying 8 crore term insurance

Before signing up for such a large policy, it’s important to think through a few key aspects. Here’s what to consider when choosing an 8 Crore Term Insurance Policy:

  • Eligibility and medical checks: Insurers may require detailed income proof and health reports before approving such a high sum assured.

  • Insurer’s credibility: Go with providers known for strong claim settlement ratios and reliable customer service.

  • Policy term: Choose a term that covers your earning years—typically till age 60 or 65.

  • Premium affordability: Ensure you can consistently pay premiums without impacting other investments or goals.

  • Rider options: Add-ons like critical illness or accidental death can make your 8 crore term insurance plans more robust.

  • Online vs offline plans: Online plans often come with lower premiums and faster processing—consider them if you’re digitally comfortable.

Careful planning today ensures your family’s comfort, no matter what life brings tomorrow.

Understanding the premium and payout structure

The premium structure for an 8-crore term insurance plan is determined by various factors. Here's how these aspects impact the cost of your policy:

  • Age: Younger individuals are considered low-risk and therefore enjoy lower premium rates.
  • Health condition: Applicants with no pre-existing medical conditions or risk factors often receive favourable rates.
  • Policy tenure: Longer tenures may result in slightly higher premiums, but they provide extended protection and peace of mind.
  • Smoking habits: Non-smokers typically pay significantly lower premiums as compared to smokers.
  • Sum assured: While a higher sum assured like Rs. 8 crores may increase premiums, the cost per lakh of coverage decreases with larger policies.
  • Payment flexibility: Most insurers offer annual, semi-annual, quarterly, or monthly payment options, allowing policyholders to align premium payments with their financial planning.

Importance of rider add-ons for comprehensive coverage

Riders are optional benefits that enhance the scope of your term insurance policy, ensuring better financial security for your family. Popular rider options for an 8-crore term insurance plan include:

  • Critical illness rider: Offers a lump sum upon diagnosis of critical illnesses such as cancer, heart disease, or stroke, helping cover medical expenses.
  • Accidental death cover rider: Provides an additional payout to beneficiaries if the policyholder dies due to an accident.
  • Waiver of premium rider: Waives all future premiums if the policyholder becomes disabled or critically ill during the policy tenure, keeping the coverage active.
  • Income benefit rider: Ensures regular income payouts for the family alongside the lump sum death benefit, providing consistent financial support.
  • Terminal illness rider: Pays out the sum assured if the policyholder is diagnosed with a terminal illness.

Adding these riders ensures your family is safeguarded from multiple risks, making the coverage more comprehensive.

Comparing policies for 8 crore plans

Selecting the right term insurance plan requires careful comparison of policies. Consider these factors while evaluating options:

  • Premium rates: Compare the premium amounts across insurers for similar coverage and tenure. A slight difference in rates can significantly impact long-term affordability.
  • Claim settlement ratio: Choose an insurer with a high claim settlement ratio to ensure a hassle-free claims process.
  • Policy tenure options: Select a tenure that aligns with your financial goals and responsibilities.
  • Rider availability: Evaluate the add-ons offered by different insurers to ensure your policy meets your comprehensive needs.
  • Customer reviews and support: Research feedback on customer service, policy benefits, and the efficiency of claims processing.

Tips for maximising the benefits of an 8-crore term insurance plan

  • Start early: Purchasing a term insurance plan at a younger age ensures lower premiums and extended coverage.
  • Opt for longer tenure: A longer policy term ensures that your family is protected during the most financially vulnerable years.
  • Customise with riders: Enhance your plan with riders like critical illness or income benefit to address specific risks and provide additional protection.
  • Review your policy periodically: As your financial situation evolves, reassess your term insurance needs and update the plan accordingly.
  • Compare online options: Use online platforms to compare policies, riders, and premium rates for the best deal.

Conclusion

An 8 crore term insurance plan is a robust solution for securing your family’s financial future. With extensive coverage, flexible premiums, and customisation options through riders, it addresses diverse financial needs. By understanding the premium structure, comparing policies, and leveraging add-ons, you can create a comprehensive financial safety net. This high-value coverage ensures that your loved ones are protected from unforeseen challenges, providing you peace of mind and confidence in your financial planning.

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Frequently asked questions

What are the key benefits of an 8-crore term insurance plan?

It provides extensive financial protection for your family, ensuring coverage for significant expenses like debt repayment, children’s education, and medical emergencies.

Are there tax benefits associated with 8-crore term insurance plans?

Yes, premiums paid qualify for deductions under Section 80C of the Income Tax Act, while the death cover is typically tax-free under Section 10(10D).

How do you choose the right 8-crore term insurance plan for your needs?

Evaluate premium rates, tenure options, claim settlement ratios, and available riders to select a policy that aligns with your financial goals.

Can I get flexibility in premium payment options for 8-crore plans?

Yes, insurers offer flexible payment modes, including annual, semi-annual, quarterly, and monthly instalments, allowing you to choose based on your convenience.    

What happens if I outlive my 8-crore term insurance policy?

In standard term insurance plans, no maturity benefit is provided. However, some insurers offer a return-of-premium option, where the premiums paid are returned if the policyholder survives the tenure.

Can NRIs apply for an 8 crore term insurance plan in India?

Yes, NRIs can easily buy an 8 crore term insurance policy from Indian insurers, provided they meet income and medical eligibility. Many plans offer digital onboarding and overseas medicals for added convenience.

How do you file a claim for an 8 crore term insurance plan?

To claim an 8 crore term insurance policy, the nominee needs to submit the death certificate, policy documents, and ID proofs. Once verified, the insurer processes the payout within a few working days.

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Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, The New India Assurance Company Limited, Cholamandalam MS General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third-party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.
 

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.

T&C Apply. #Above illustration is considering Male aged 25years | Non-Smoker | Policy Term(PT)– 30 years | Premium Payment Term (PPT)– 30 years | Sum Assured opted is Rs.1,00,00,000 | Offline Channel | Standard Life | Yearly Premium is Rs. 5,417. Total Premium Rs.1,62,518 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage: 40, Income Payout Percentage: 60). Income payout instalment opted for 40 years | Premium shown above is exclusive of Goods & Service Tax/ any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

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