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With growing inflation rates and rising financial obligations, securing the future of your loved ones has become more crucial than ever. A ₹5 Crore... Read more term insurance policy is a term insurance plan that pays your loved ones a lump sum amount of ₹5 Crore in the event of your untimely demise during the term of the policy. It takes care of significant expenses such as loans, education, and day-to-day needs, offering significant financial security at a reasonable premium. Read less
With growing inflation rates and rising financial obligations, securing the future of... Read more your loved ones has become more crucial than ever. A ₹5 Crore term insurance policy is a term insurance plan that pays your loved ones a lump sum amount of ₹5 Crore in the event of your untimely demise during the term of the policy. It takes care of significant expenses such as loans, education, and day-to-day needs, offering significant financial security at a reasonable premium. Read less
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Here's your customized plan
Get Life Cover of ₹1 Crore by paying a premium of
₹7,085/month (for 30 years)
₹8,287/month
Save ₹1,202 with discounts
Includes 10% digital + 8.5% salaried discount on 1st year premium
Excludes GST
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Tata AIA Life Insurance Sampoorna Raksha Promise (A Non-Linked Non-Participating, Pure Risk, Individual Life Insurance Plan) • UIN: 110N160V7
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A ₹5 Crore term insurance is a term plan that offers a life cover of ₹5 Crore. If the policyholder passes away during the policy term, the nominee receives the entire sum assured, either as a lump sum, regular income, or a combination of both. This payout can help your loved ones manage daily expenses, repay loans, and stay financially secure in your absence, especially if you’re the family’s primary breadwinner.
If your annual income ranges between ₹30-₹50 Lakh, a ₹5 Crore term insurance plan can be a suitable life cover to ensure your family’s financial security. One can choose a sum assured that is 10-15 times your annual income to cover future expenses, debts, and life goals. Let’s explore the key reasons why a ₹5 Crore cover could be the right fit.
A ₹5 Crore term insurance plan is a pure life insurance plan without a savings or investment component. Therefore, you can purchase this extensive coverage at an affordable ₹5 Crore term insurance premium. In case, this sum assured tends to be a bit high for you or if the premium is out of your budget, opt for a ₹2 Crore term insurance instead.
No individual wants to burden their family with financial liabilities. Even if you are repaying your loans on time, an unforeseen event can disrupt your plans. In such cases, the responsibility for outstanding debts may fall on your loved ones, potentially leading to financial distress.
Even when life appears stable and fulfilling, the future financial security of your family remains a concern. In your absence, it is essential to ensure that your loved ones don’t face financial issues. They should be able to maintain their standard of living without disruption to their everyday needs.
As a parent, you wish to provide the right opportunities and resources for your children. It is important to ensure that their future goals and aspirations remain unaffected. A term insurance plan can serve as a financial legacy, helping them pursue their dreams without any compromise.
When you have adequate coverage to secure your family, you can save or invest to align your income with your future financial goals. It can help you plan for the long term and focus on achieving your investment goals in a timely manner.
With a 5 crore term plan, you can enhance the coverage with add-on riders5 for additional financial benefits during specific scenarios. For example, a health-based rider can provide the financial support required to pay for your medical expenses during the policy tenure in addition to the life cover.
You should not treat your term insurance plan only as a tax-saving option. However, tax6 deduction and exemption benefits on the term insurance premiums and the death benefit proceeds under Section 80 and Section 10(10D) of the Income Tax Act help in reducing tax burden.
Tata AIA
Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N171V11)
Tata AIA
Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V07)
A ₹5 Crore term insurance plan offers substantial financial protection for your family. The cover is provided for a specific policy term, and you must pay regular premiums to keep the policy active. These premiums are fixed at the time of purchase and are influenced by factors such as age, income, and lifestyle habits. You can choose the frequency of premium payments such as monthly, quarterly, semi-annually, or annually. In case of your untimely demise during the policy term, the insurer will pay the ₹5 Crore sum assured to your nominee.
While pure term plans do not offer maturity benefits, plans with a return of premium4 option refund the premiums paid if you survive the term. Additional rider5 options, like critical illness or accidental disability cover, can be added for enhanced protection. These riders are valid as long as the base policy is in force, making the plan flexible and comprehensive.
Here’s an example to understand how a ₹5 Crore term plan works:
Rahul, a father of two, purchases a term plan at the age of 30. He earns a decent income and wants to safeguard the financial future of his family. His wife is a homemaker and takes care of their children. He selects a policy tenure of 30 years, and a sum assured of ₹5 Crore. A few months after his 45th birthday, Rahul suffers a fatal heart attack. His wife and children lose their sole breadwinner. However, due to Rahul's prudent planning, his wife receives a payout of ₹5 Crore, allowing her to repay the home loan debt. Additionally, it allows her to pay her children's school fees until she can find another source of income for them.
You can choose the duration of your plan, typically 10 to 40 years. The ₹5 Crore cover remains active only during this selected term.
Premiums must be paid on time (monthly, quarterly, half-yearly or annually). The cost depends on factors like your age, health, and lifestyle habits.
Choose whether to pay throughout the policy or for a limited period (e.g., 10 years) as per your convenience.
If you pass away during the policy term, the full ₹5 Crore is paid to your nominee. They can choose a lump sum, staggered payouts, or a combination.
Your premiums stay the same throughout the policy term. Buying early helps you lock in low rates for life.
You can enhance the policy with optional riders5 like critical illness, accidental death, or waiver of premium riders for broader protection.
One of the key benefits of a ₹5 Crore term life insurance plan is its cost-effectiveness. Compared to other types of life insurance policies, term plans offer high life cover at relatively low premiums. For instance, a salaried professional in their early 30s can secure this extensive coverage, making it both practical and protective.
This plan provides a death benefit, meaning the entire sum assured is paid to your nominee if something unfortunate happens during the policy term. For example, in the absence of the policyholder, this benefit can help the family continue paying EMIs, run household expenses, or fund a child’s education without financial stress.
You can choose how you want to pay for the policy:
For example, if you're expecting rising expenses in the future, you may prefer to complete the premium payments within the next 10 years using the limited payment option.
You may customize how your nominee receives the claim amount, either as a lump sum, regular income, or a mix of both. For instance, if you think your family may need structured monthly support rather than handling a large amount at once, the regular payout option may help manage daily needs with ease.
While standard term plans don’t offer maturity benefits, some plans come with a return of premium feature. If you outlive the policy term, all premiums paid are returned to you. For example, with Tata AIA Life Insurance Sampoorna Raksha Promise, you get 100% of the total premiums paid4 as maturity benefit. This means you get back your investment along with availing protection at the same time.
Term insurance plans also allow you to enhance protection with optional riders5. These include covers for critical illness, accidental disability, or waiver of premium. For example, if you suffer a permanent disability in an accident, a waiver of premium rider ensures future premiums are waived off, keeping your coverage active without a financial burden.
Purchasing a ₹5 crore term plan is now easier. Compare plans, calculate premiums, and buy your policy online, all from the comfort of your home. This also allows for quicker documentation, easy access to policy details, and a simplified claims process for your family when needed.
To choose the right ₹5 Crore term insurance plan, follow these three key steps:
A ₹5 Crore term insurance plan is suitable for individuals with significant financial responsibilities and long-term goals. Here are the key groups who can benefit from this level of coverage:
Non-Resident Indians (NRIs) with financial dependents in India can consider a ₹5 Crore term insurance. It provides a reliable safety net for your family back home, ensuring they receive financial support in your absence, regardless of where you reside or work.
Also Check : Term Insurance for NRI
Non-Resident Indians (NRIs) with financial dependents in India can consider a ₹5 Crore term insurance. It provides a reliable safety net for your family back home, ensuring they receive financial support in your absence, regardless of where you reside or work.
Also Check : Term Insurance for NRI
A ₹5 Crore term insurance plan offers substantial financial protection to your family in the event of your untimely demise. This sum assured acts as a financial support system that your nominee receives to help manage essential obligations. These include household expenses, loan repayments, children’s education, and long-term lifestyle costs.
The ₹5 Crore coverage is pre-defined at the time of policy purchase, and the full amount is paid out as a death benefit if the policyholder passes away during the policy term. This may make it suitable for individuals with higher income brackets (typically those earning ₹30-50 Lakh annually), ensuring that their family’s financial stability is not compromised.
With the rising cost of living and increasing financial responsibilities, having adequate life cover has become quite important nowadays. A ₹5 Crore sum assured ensures peace of mind by securing your loved ones against financial uncertainties, even in your absence.
Is a ₹5 Crore term insurance policy enough for your family's financial future? How much life insurance is enough? To answer these questions and determine the right coverage for your term plan, you need to consider the following pointers.
The general thumb rule for purchasing a term insurance plan is to consider the coverage as ten times that of your current annual income. It will take into consideration the inflation rates for income replacement that can help manage inflation over the years.
As a result, if your family needs financial assistance in the future, they will not have to struggle with a meagre sum assured to meet the daily requirements or utilise their savings in times of need.
If you are the sole breadwinner of your family, you need to consider your current income, the expenses of your family, liabilities, and future financial commitments.
It will ensure the coverage is sufficient for them to lead a self-sufficient life and also plan for their future goals, such as education, marriage, etc. You can access our Tata AIA Life Insurance Human Life Value Calculator to determine this value.
A term plan covers not only your family's needs but also any liabilities that you may have left behind in the form of loans and debts. When you determine the coverage for your term insurance plan, you need to consider the total loans and liabilities that need to be repaid.
With a ₹5 Crore term policy, you can ensure that the burden of these debts does not trouble your family if you have huge unpaid debts.
Our experts are happy to help you!
To buy a ₹5 Crore term insurance plan, you typically must be between 18 and 65 years old, provide proof of sufficient income, and undergo a medical examination.
Yes, premiums paid for a ₹5 Crore term insurance plan qualify for tax6 deductions under Section 80C, and the death benefit is tax-exempt under Section 10(10D). You can save up to ₹46,800 or more in taxes annually.
Yes, like a regular term insurance plan, ₹5 Crore term insurance plans also come with a free-look period of 15 days from the date of receipt of the policy document. If the policy has been purchased online, it is 30 days. This allows policyholders to review the terms and conditions and return the policy if they are not satisfied, receiving a refund of the premium paid minus certain deductions.
To choose the best insurer for a ₹5 Crore term insurance plan, consider factors like a high Claim Settlement Ratio, strong Solvency Ratio, affordable premiums, comprehensive policy features, and available rider options that suit your needs.
Yes, your nominee can claim insurance by uploading attested documents online or emailing them. For offline claims, documents must be couriered to a representative in India, who can then file the claim at our office on their behalf.
To calculate the right term insurance amount for your family, consider your family’s financial needs, outstanding debts, future goals, and income replacement for 10-15 years.
Your ₹5 Crore term insurance premium is affected by factors such as your age, medical history, health, number of individuals covered under the policy, sum assured, family’s medical history, nature of your occupation, etc.
Yes, purchasing online from reputable insurers like Tata AIA is secure, as they have encrypted platforms ensuring data protection and smooth claim processes.
Yes, young adults in their 20s can buy ₹5 Crore term insurance, especially if they have high income, financial responsibilities, or want long-term security for their family. Insurer may decide to issue policy with a life cover basis their underwriting guidelines.
Yes, you can enhance your ₹5 Crore term insurance by adding riders5 like critical illness, accidental death, or waiver of premium for extra financial protection during specific situations at nominal cost.
A ₹5 Crore term plan typically provides sufficient coverage for most families, covering income replacement, debts, and future expenses. However, individual needs may vary based on lifestyle and financial goals.
Yes, the death benefit payout from a ₹5 Crore term insurance plan is tax-free6 under Section 10(10D) of the Income Tax Act, ensuring your family receives the full amount without tax deductions.
Premiums vary based on age, health, policy term, and insurer. Generally, younger and healthier individuals pay lower premiums. Using online calculators can help estimate the exact premium amount.
Yes, ₹5 Crore term insurance is suitable for high-income earners, providing adequate financial security for their families and helping cover liabilities, lifestyle expenses, and long-term goals.
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Disclaimers
1Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for ₹ 5 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option of Tata AIA Sampoorna Raksha Promise with first year premium discount for digital purchase and salaried person. Please refer Benefit Illustration for more details. Premium is subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
2This includes first year digital discount of 10% for Limited Pay/Regular Pay and 8.5% salaried discount. For Single Pay, 1% discount will be available for online purchase and salaried discount each.
3Individual Death Claim Settlement Ratio is 99.41% for FY 2024-25
4Under Life Promise Plus Option, an amount equal to the 100% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
5Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
6Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
7With this feature, policyholder is allowed to defer the due premium for a period of 12 months while maintaining the full risk cover under the base plan and attached riders. At the end of Premium Deferment period, the policyholder is required to pay the due premiums, including the premium applicable for the period of Premium Deferment, i.e., the base cover premium and additional premium (if any). FlexiPay Benefit shall be available for multiple times with a gap of 5 policy years from the expiry date of previous Premium Deferment. The option can be exercised only after payment of 5 full years premium. No interest shall be levied on the premium due during the Premium Deferment period. If the premiums due are not paid within the grace period after expiry of the FlexiPay Benefit, the Policy (including Rider(s), if any) shall lapse and no benefits shall be payable in the Policy or the Rider(s), if any) and company shall be entitled to recover the same from any amounts or benefits payable under the Policy or Rider(s). Please refer the sales brochure and policy document for more details.
889,43,554 families protected till 31st May 2025.
9Retail Sum Assured for FY24-25 is ₹7,90,982 Crore. https://irdai.gov.in/document-detail?documentId=6552249
10Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of ₹50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
L&C/Advt/2025/Jul/2765
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