Do you own a large-scale business? Worried about the family’s financial needs in case of your untimely demise? One smart and practical way to address this is to buy a term insurance policy with a 20 crore term insurance plan. However, before purchasing a high sum assured policy, you should understand what it offers and whether you truly need that much protection. Additionally, there are several simple and convenient ways to get it online today.
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A ₹20 crore term insurance plan is a pure protection plan that offers life cover worth ₹20 crore. This means that your loved ones will receive ₹20 crore in the event of your unfortunate demise during the policy term. This is a substantial amount that can cover high financial responsibilities and future expenses for an extended period.
A ₹20 crore term insurance plan is designed for individuals with high income, major financial responsibilities, or long-term family goals. It provides strong protection and peace of mind. This ensures your loved ones never face financial stress in your absence.
Here are some key reasons to buy a ₹20 crore term insurance plan:
It can provide financial security for the high-income group and entrepreneurs. If you fall under this category, naturally, your family’s lifestyle and financial commitments are likely substantial.
Home loans, car loans, business loans, and other liabilities can burden your family in your absence. The 20 crore sum assured ensures these debts do not become a financial burden on your loved ones.
Education costs, including healthcare and daily living needs, keep rising with time. Securing a 20 crore sum assured can help beat inflation and ensure your family’s needs are met even in your absence.
A 20 crore sum assured can also provide for significant life goals such as children’s higher education, marriage, or starting a business, permitting you to leave a lasting legacy.
A ₹20 crore term insurance plan is ideal for people with high financial responsibilities or major future commitments. It’s designed for those whose families depend heavily on their income or who manage large financial obligations.
Doctors, senior executives, and renowned lawyers often earn high incomes and have financial commitments. A larger cover ensures their families can maintain the same lifestyle and meet long-term goals even in their absence.
Business owners often face financial uncertainties and may have large loans or ongoing commitments. A ₹20 crore term insurance plan helps protect their families from business risks and ensures financial stability in case of the policyholder’s untimely death.
If you have multiple loans, ongoing liabilities, or expensive future plans, a 20 crore term insurance ensures your family is not left struggling financially.
High-net-worth individuals often use large term covers as part of their estate or legacy planning to ensure smooth wealth transfer to their heirs.
The table below compares the ACKO Life Flexi Term Plan with traditional term insurance plans. It highlights key differences in flexibility, premium payment options, and value-added features.
| Parameters | ACKO Life Flexi Term Plan | Traditional Plans |
| Claim Settlement Ratio | 99.38% | Varies from 98-99% |
| Policy Adjustments | Instant changes via app | Depends on the medium ( offline and online ) |
| Increasing Cover Option | Yes. No restrictions* | Restricted to life big events such as marriage, welcoming a child, etc. |
| Cost Savings | Up to 40% savings* | Costs grow over time |
| Future Premium Hikes | Age wise premiums remain the same | Age wise Inflation adjusted premium |
| Customisability | Flexible coverage/term | Rigid, limited options |
| Riders | Offers valuable riders to enhance protection | Riders may be provided depending on the plans |
| Length of Claim Form | Easy, digital, and short | Moderately long/Very long/Not available online |
| Option to Exit the Plan | Yes* | Approx. 80% of insurers provide |
| Digital Experience | Fully online, app-based | Often requires offline processes, paperwork, or branch visits |
| End-to-end Digital Support | Yes | Depends on the insurer |
| Free Will Creation | Yes | No, Generally does not offer integrated will creation services |
Watch this video to learn more about the ACKO Life Flexi Term Plan and how it works.
The ACKO Life Critical Illness Benefit Rider adds an extra layer of financial protection to your term insurance plan. It covers 21 critical illnesses, including serious and life-threatening conditions common among women, such as breast cancer, cervical cancer, fallopian tube cancer, and ovarian cancer. This rider helps you stay financially secure during medical emergencies so you can focus on recovery.
Read more: ACKO Life Accidental Death Benefit Rider and ACKO Life Accidental Total Permanent Disability Benefit Rider.
Here are some vital tips to guide you in selecting the right term insurance plan for a ₹ 20 crore term insurance.
Assess your income, liabilities, future goals, and inflation to determine your sum assured amount.
Conduct a comparative study to verify the claim settlement ratios, premium rates, customer reviews, and digital features of various insurers, and then make an informed decision.
A term that covers your family until they become financially independent is ideal.
Riders can add protection at minimal extra cost. Consider your personal health status and lifestyle risks before finalising your choices.
Read every detail carefully and make sure you understand what’s included and excluded.
Adjust the sum assured or terms as and when needed.
A ₹20 crore term insurance policy is a smart way to protect everything you’ve worked hard to build. For high earners and those with significant responsibilities, such a policy offers robust financial protection.
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Reviewed by Vaibhav Kumar Kaushik 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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