4 Crore Term Insurance

1. Select Sum assured: Start by selecting the coverage amount you want. In this case, it’s ₹4 crore. 
2. Decide the Policy term: Select the term, e.g. 10, 20, 25, or 30 years, based on your financial goals.
3. Premium payouts: As the policyholder, you must pay a fixed premium amount at regular intervals throughout the chosen policy tenure. The premium for a 4 crore term insurance policy depends on your age, health, and tenure.
4. Adding riders: You can add riders like critical illness cover, accidental benefit, or disability income in your term insurance.
5. Policy issuance: The insurer issues the 4 crore term insurance after you complete the application, health check-up, and verification.
6. Claim settlement: The nominee will receive the entire 4 Crore sum assured in case of your unfortunate death during the policy term.
7. Policy expiry: If you survive the policy tenure, the policy simply expires. 

Example:  Let’s assume Neha, a 30-year-old professional, buys a ₹4 crore term plan for 25 years. She pays an annual premium. If Neha passes away in the 15th year of the policy, her family will receive the full ₹4 crore as the death benefit.

1. First, check the claim settlement ratio (CSR). A higher CSR means a better chance that your family’s ₹ 4 crore sum assured will be settled.
2. Then, compare the premium rates. It helps you understand the coverage from different insurers.
3. Evaluate features and flexibility. It helps you understand what’s included and excluded from the policy.
4. Always read customer reviews, as good customer service matters.