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.