1.5 Crore Term Insurance Plan

Term plans are straightforward life insurance plans. Under this plan, the beneficiary receives a predetermined death benefit in case of the insured person’s demise during the policy period. As the policyholder, you have the control over the sum assured of the policy. So, if you were to opt for a term insurance plan with a cover amount of 1.5 crore, your loved ones would receive this sum in case of your untimely demise.

It is increasingly becoming a popular choice among policy buyers due to the growth in financial responsibilities and liabilities. Purchasing a term insurance plan for 1.5 crore ensures that the cover amount is sufficient to sustain your loved ones in your absence, many years from now.

Selecting the right ₹1.5 crore term insurance plan is as important as choosing the right insurance company and the term insurance plan. Policyholders often review the Claim Settlement Ratio (CSR) because it is one of the key factors that can help them make an informed decision. Claim Settlement Ratio is the ratio of claims settled to total claims received within a financial year. A high CSR shows that the insurance firm has paid out a larger proportion of eligible claims over time. This might help to understand the claim settlement record of an insurance company. The CSR of Axis Max Life Insurance for the financial year 2025-26 is 99.8%^.

However, the Claim Settlement Ratio is not the only important factor that you should consider when buying an insurance. It is equally important to evaluate the insurance company's financial strength, policy features, customer service standards, and claim settlement process before purchasing a term insurance policy. Evaluating these factors can help you choose a ₹1.5 crore term insurance plan that aligns with your family's long-term financial security needs.

For most of us, the key consideration when buying an insurance policy is the premium amount. This amount is determined by a number of factors, including age, number of riders, annual income, and so on.

So, to assist you in choosing a suitable term insurance plan of 1.5 crores, we've put together a table that compares premium expenses for various age groups for basic coverage and base coverage plus rider of Axis Max Life Smart Total Elite Protection Term Plan(A Non Linked Non Participating Individual Pure Risk Life Insurance Plan, UIN:104N125V09).

The following figures are calculated according to: Gender (Male) + Non-Smoker + Annual Income over 10 lakhs) + Salaried Individual + Coverage up to 75 years of Age. For Critical Illness & Disability Rider (Non Linked Non Participating Individual Pure Risk Health Insurance Rider | UIN: 104B033V02) sum assured is 5 lakhs, Platinum Plus Variant and 20 year rider term.

*Premiums are exclusive of GST

Axis Max Life Insurance offers flexible and innovative term plans such as Axis Max Life Smart Secure Plus Plan that allows policy buyers to get a coverage of 1.5 crore at nominal premium rates. This 1.5 crore term insurance plan includes numerous base/built-in features, such as two death benefit options and a regular or limited premium payment option.