₹5 Crore Term Insurance Plan

• You pay the premium at regular intervals for the chosen policy tenure. This can be monthly, yearly, or as per the payment option selected at the time of buying the policy.
• If you pass away during the policy tenure, the nominee receives ₹5 crore as the death benefit.
• If you survive the policy tenure, the ₹5 crore term insurance plan expires without paying any benefits.

Here’s an example: Rohan, a 30-year-old professional, buys a ₹5 crore term insurance plan for 30 years. A few years into the policy, he passed away in an accident. Since the death occurs during the policy term, the insurance company pays the full ₹5 crore sum assured to his nominee. This helps his family repay loans and manage everyday expenses.

• Age: Most insurers allow the policy to be purchased between 18 and 60 - 65 years of age, depending on the policy terms.
• Income level: A ₹5 crore term insurance plan is generally suitable for individuals with higher incomes, often ₹25 lakh or more annually, to justify the coverage amount.
• Health condition: Medical tests are generally required for high sum assureds, like a 5 crore term insurance, to assess overall health and existing medical conditions.
• Lifestyle habits: Alcohol and tobacco use, other lifestyle factors may impact the eligibility to qualify for the insurance plan or require additional underwriting.
• Occupation: Individuals employed in high-risk occupations will be subject to additional questions and potentially higher premiums.

• Critical Illness Rider: Provides a lump sum payout if you are diagnosed with any of the listed critical illnesses during the policy term, helping manage treatment and recovery costs.
• Accidental Death Benefit Rider: Offers an additional sum assured over and above the base ₹5 crore term insurance cover if death occurs due to an accident.
• Waiver of Premium Rider: Under this rider, future premiums are waived if you become permanently disabled due to an accident or serious illness, while your term insurance coverage continues.
• Disability Income Rider: This rider provides a regular income if you become disabled and are unable to work, helping you manage everyday expenses during the period of disability.