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Term Insurance Calculator

ICICI Pru iProtect Smart Plus

A Smart Life Cover That
Adapts to Your Journey

Family

99.3%~

Claim Settlement Ratio (FY2025)

100%

Premium
Refund Option°

₹3 Lakh

Instant Claim Payout5

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

Up to 15%S Salaried Discount (1st Year)

Up to 5%` Lifetime Online Discount

Flat 15%F Lifetime Female Discount

₹1 Crore Term Plan Calculator

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Benefits that secure your family’s future

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Terminal Illness Benefit6

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12-month Premium Break Option4

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Accidental Death Cover9 (Optional)

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60 Critical Illness Cover## (Optional)

What is ₹1 Crore Term Plan?

A 1Cr Term Insurance is a term policywith a sum assured of ₹1 Crore which is paid to the nominee of the plan in the unfortunate event of the death of the policyholder during the policy term.
Such a high life cover1 ensures that the life insureds family members are financially secure and are able to live their life comfortably without any compromises.

How does ₹1 crore term insurance plan work?

If you are wondering how does a ₹1 crore term insurance plan work, here’s an example that can help:

Let’s say Prashant bought a term insurance plan with a sum assured of ₹1 crore at the age of 30. He selected a policy term of 30 years and made his wife the plan’s nominee. An unexpected incident five years later led to Prashant’s untimely demise.
However, his wife received the entire sum assured of ₹1 crore from the insurance company. This payout can help her to be financially independent and continue her life in Prashant’s absence with dignity and fiscal security.
Prashant’s Age30
Retirement age60
Annual Income₹ 11 Lakhs
Current Family Expense (Per year)₹ 3 Lakhs
Family’s overall expenses for the next 30 years (assumed inflation rate 6%)₹ 2.4 Crores
Other expenses (loan, education expenses etc.)₹ 35 Lakhs
Personal Savings₹ 10 Lakhs
Value of personal savings after 30 years (@10% assumed growth rate)₹ 1.5 Crores
Recommended Life cover₹ 2.75 Crores – ₹ 1.5 Crores = ₹ 1.25 Crores

Why do you need ₹1 crore term insurance plan?

Determine Ideal Life Cover
Future Planning
Determining how much life cover you need is the first step to take when buying a term insurance plan. This value depends on your family’s current living costs, pending loans, and future aspirations.
However, before zeroing in on a certain amount, you need to factor in inflation. The prices that you pay for items of daily necessities today are likely to increase in a few years.
Find out the current value of future costs using our Calculator. It can give you an idea about the amount needed to secure your loved ones’ finances in your absence.

Benefits of buying a ₹1 crore term insurance

Who should opt for ₹1 crore term insurance?

You should buy at least ₹1 crore term life insurance policy.
If you are the sole or primary breadwinner of your family, you need to shield your loved ones against financial uncertainties in case something unwanted happens.
The ₹1 crore payout will support your loved ones’ livelihood. It can help settle any outstanding dues and pay for your children’s higher education or wedding.
Thus, even if they lose the support from your income, they will not have to compromise on their lifestyle or future goals.
ICICI Pru
Term Life Insurance
Regular Income for your family
Children's education
Home loan
Daughter's wedding

Things to consider before buying a ₹1 crore term insurance plan

How to choose the right ₹1 crore term insurance?

You need to research the different term plans available to ensure the product you buy satisfies all your requirements. Here are some parameters you should look into before purchasing a term insurance plan:

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Premium Rate

Unless the premium fits into your budget, you won't be able to buy the plan or pay the amount regularly. Therefore, it is advisable to choose a term plan with the most affordable premium as per your income
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Claim Settlement Ratio (CSR)

This figure reflects the number of claims the insurance provider settles annually. A Claim Settlement Ratio of over 95% indicates that the insurance company is committed to fulfilling its obligations to its policyholders. Hence, to ensure that your beneficiaries receive the claim amount on time, you should opt for an insurance provider with a consistently high Claim Settlement Ratio
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Additional benefits

Apart from a life cover, insurers offer several other useful features with their term plans, such as:

  • Additional add-ons to increase the base cover
  • Accelerated payouts in particular circumstances
  • Provision to increase the cover with changing needs

 

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Determine your financial needs & requirements

You must assess your financial requirements when purchasing a term insurance plan. Make sure to go through the features, check out the riders and use a ₹ 1 crore term insurance premium calculator to better understand whether your chosen plan suits your budget.

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Consider inflation & the cost of living

Inflation and future expenses can help you decide on the right coverage amount. While a  ₹ 1 crore term insurance plan can suffice for most of your future needs, it is still prudent to evaluate these factors when deciding on a plan.

Why choose ₹1 Crore Term Insurance?

This term plan offers the following benefits:
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Affordable

Life cover of ₹1 Crore at an affordable premium rate>>

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Increase Cover

Option to increase life cover1 in future up to 3X of original life cover, based on life stagesL like marriage, birth of children or taking a home loan

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Premium Break Feature

Option to avail multiple 12-month premium breaks4, even during maternity break, business slowdowns or job loss

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Accidental Total and Permanent Disability7 (Optional)

Additional lumpsum payout to nominee in case of your permanent and total disability7 due to an accident while you are alive

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Waiver of Premium8

Guard your loved ones from any unforeseen events like accidental total permanent disability and critical illnesses by waiving off the future premiums of the base policy or subsisting riders through waiver of premium8 rider

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Add-ons

Useful add-ons to enhance your life cover1, offering upfront lumpsum payouts in case of accidental dealth9 or the 60 critical illnesses## covered in the plan

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Extent Option

The choice to extend coverage up to 99 years of age

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Discount Benefit

Up to 5%' lifetime online discount throughout policy term on iciciprulife.com

Did you know?
Furthermore, over the years, ICICI Prudential life has maintained a Claim Settlement Ratio of over 95%; the FY2026 figure being 99.3% ~ . It assures you of a speedy settlement * of your nominee's claim. Hence, you can rely on this insurer to ensure that your family members live the life you want for them even in your absence.