Best Term Life Insurance Plans for 5 Crore

Compare Term Insurance Plans

Updated 14 August 2026Life Insurance

When it comes to the financial safety and security of your loved ones, term insurance can surely come in handy. It is a type of insurance policy that provides coverage to the policyholder’s dependents/ family members in case of their untimely death. Term life insurance is usually more affordable than permanent life insurance because it offers pure death benefit coverage without any savings or investment components.

In this article, we will discuss 5 crore term life insurance in detail, whether it is suitable for you and your family, and other factors to keep in mind.

What is a 5 Crore Term Life Insurance?

Term insurance plans provide the sum assured amount to the beneficiaries of the policyholder in case of the unfortunate demise of the policyholder within the policy tenure. With a 5 crore term insurance, dependents of the policyholders can get a sum assured up to the mentioned figure and avail of financial protection to take care of their regular needs and existing liabilities.

Best Term Insurance Plans for 5 Crore

Refer to the table below to know more about the best 5 cr term insurance plans -

Name of the Plan	Entry Age	Term of the Policy	Maturity Age
TATA AIA Maha Raksha Supreme	18 years/ 70 years, 65 years, and 45 years	Whole life option - Entire lifetime Other options - 10 years, 50 years, and 85 years	100 years, 85 years
SBI Life eShield	18 years/ 65 years or 60 years	5 years, 10 years - 80 years, 75 years (minus age at entry)	80 years, 75 years
Reliance Digi Term Plan	Whole life secure -25 years/ 60 years Other options - 18 years/ 60 years	Whole life option - Entire lifetime Other options - 10 years, 40 years	Whole life option - 100 years Other options - 80 years
PNB Metlife Mera Jeevan Suraksha	18 years/ 65 years	10 years - 40 years, 30 years (for ROI option)	80 years
Max Life Smart Term Plan	18 years/ 44 years or 60 years	10 years - 50 years	85 years or 75 years
Kotak e-Term Plan	18 years/ 65 years	5 years - 50 years or 75 years minus the age at entry	75 years
India First e-Term Plan	18 years/ 55 years	10 years -40 years	80 years, 60 years, 65 years
ICICI Prudential iProtect Smart Plan	18 years/ 55 years, 65 years	Single pay - 5-40 years Regular pay - 5- 85 years minus age at entry/ whole life - 99 years minus age at entry Limited pay - 10 years, 15 years - 85 years minus age at entry Whole life - 99 years minus age at entry	85 years
HDFC Life Click 2 Protect Plus	18 years/ 65 years	NA	85 years
Future Generali Flexi Online Term	18 years/ 55 years	10 years - 30 years/ 12 years - 30 years	Smokers - 65 years Non-smokers - 75 years
Exide Life Smart Term Comprehensive	18 years/ 60 years	12-30 years	NA
Edelweiss Tokio Zindagi +	18 years/ 65 years, 55 years	10 years, 15 years - 65 years	80 years
Canara HSBC iSelect +	18 years/ 65 years	Life option - 5 years – 62 years, Life Plus Plan option - 10 to 30 years	80 years
Aditya Birla Life Shield Plan	18 years/ 65 years	10 years - 50 years	80 years
Aegon Life iTerm Plan	18 years/ 65 years or 50 years	5,15,20 - 82 years	100 years

Is It Enough to Have a 5 Crore Term Life Insurance?

The answer to this question would depend on certain factors based on which one can determine the sum of term life insurance that they require. This is because the financial requirements of each family vary as per multiple factors such as the total number of family members, their financial obligations, current financial status, and more.

In addition to that, rising inflation can also affect the regular financial requirements of a family. Even though 5 crore term insurance is sufficient for a nuclear family, individuals with a family with more members may require a plan with a higher sum assured.

Factors Affecting a 5 Crore Term Life Insurance

Mentioned below are the key aspects that influence term life insurance -

1. Policy Term

Term life insurance provides coverage for a specified tenure, which usually ranges from 1-30 years. This period indicates how long the coverage will last and also affects the premiums. If you have a longer policy term, your premiums will be higher. A short tenure, on the other hand, may lead to lower premiums.

An important point to note here is that as the policyholder ages, it may become more challenging for them to secure a new term policy at an affordable premium. For this reason, it is advisable to get a term insurance plan early and choose an ideal policy term to ensure adequate coverage and affordability.

2. Present Health Status

The current health condition of the applicant has a significant influence on term life plans. Your respective provider assesses your health status to determine the premiums and eligibility for opted coverage.

If you have a pre-existing medical condition such as heart disease or cancer, you will fall under the category of higher-risk candidates - this means that you will be charged higher premiums. On the contrary, if you don’t have any history of such diseases, you may be considered a low-risk candidate and offered the plan at lower premiums. Thus, by maintaining good health, you can potentially reduce the cost of your term insurance plan.

3. Lifestyle Habits

Lifestyle habits have a considerable impact on term life insurance. Providers take multiple factors into account such as tobacco use, alcohol consumption, and physical activity level to determine premiums.

Individuals with such habits come under higher-risk candidates, which results in higher premiums and vice versa. Adopting a healthy lifestyle and eliminating the consumption of alcohol, tobacco, etc., can not only improve one's overall health but also potentially reduce the cost of life insurance premiums.

4. Term of Premium Payment

The premium payment term simply refers to how long the policyholder must pay premiums for the coverage. As a policyholder, you will generally get the option to choose between annual, semi-annual, quarterly, or monthly premium payment schedules. A longer premium payment term (such as annual payments) usually leads to lower premiums overall and vice-versa.

As the payment term considerably affects the plan’s cost and the amount that you will have to pay each time, it’s crucial to select a payment term that fits your budget and lets you have the coverage without burdening your pocket.

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