Why 1.75 Crore Term Insurance is the Key to Protecting Your Family and Business

1. Comprehensive Family Protection

A ₹1.75 crore term insurance plan ensures your family’s financial security by providing substantial coverage for their future needs, regardless of unforeseen circumstances.

Income Replacement: Ensures your family lives peacefully and maintains essential expenses in your absence.

Debt Clearance: Includes debts like home loans, personal loans, or credit card debts so that the financial burden does not fall on your family.

Future Expenses: Secures the funds for significant events like children's education, marriage, or healthcare needs.

2. Business Continuity Assurance

A ₹1.75 crore term insurance policy ensures that your entire business is financially stable in case of your absence. It takes care of the repayment of business loans and thus frees your family or partner from financial burdens. The policy further supports the business by covering hiring or restructuring costs involved, which helps the insurer keep operations running smoothly. It provides liquidity and stability in the business during crises to protect the continuity of the business and its long-term success.

3. Affordable and Customisable Coverage

Term insurance is both affordable and flexible. Most term life insurance allows you to adjust your policy coverage amount, increase or decrease your policy term (duration) and include riders based on your evolving needs.

4. High Coverage at Low Premiums

One of the key advantages of term insurance is that it is relatively inexpensive compared to whole life insurance. Term insurance is pure risk coverage, with no savings or investment components, which makes it possible to buy a considerable sum, say ₹1.75 crore, for a very low premium.

For example, a young, healthy individual can now secure lower premium rates simply by starting early. Moreover, the affordability of term insurance keeps high coverage options accessible to the vast majority, including salaried individuals, business persons, and families attempting to get adequate financial protection.

5. Add-Ons for Extra Security

Along with the basic coverage, most insurance companies offer term life riders that provide insurance benefits that supplement the basic term insurance. For example, critical illness coverage has been provided for a fixed amount that will help manage heavy medical expenses when there is a critical illness diagnosis such as cancer, heart attack, or kidney failure.

6. Inflation Protection

As inflation rises, expenses go up for everything, whether health-wise, education-wise or in daily activities. The amount assured protects your family from ever-rising household expenses, future education costs for your children, or perhaps even some unforeseen medical emergencies when the costs continually rise. It provides the necessary funds for your business to offset the increased operating expenses driven by inflation, including rising raw material costs, higher salaries, and increased overheads.

7. Tax Benefits

A ₹1.75 crore term insurance plan offers valuable tax savings, helping you reduce your taxable income while securing your family’s future.

Under Section 80C, a maximum of ₹1.5 lakh can be deducted annually as an income tax deduction for premiums.

Under Section 10(10D), the amount paid on death is tax-free.

Save taxes under Section 80D for premiums on riders, such as those with critical illnesses.

Conclusion

Most people nowadays prefer to secure a term insurance policy with significant coverage. Plans like a ₹1.75 Crore Term Insurance provide vital support to the family after the insured's passing, helping them maintain stability without disrupting their daily lives. Such a plan is ideal for young professionals with dependents, entrepreneurs and high-income earners with significant liabilities.