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Term Life Insurance in Chandigarh 2024

Chandigarh, a union territory of India, is known for being one of the most developed cities with clean streets, and institutions offering quality education. The city boasts of modern infrastructure, well-planned societies, and plenty of open spaces, making it a pleasant place to live and visit. 

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However, Chandigarh faces recurring challenges such as traffic congestion and the rising cost of living. Additionally, managing rapid urbanization while preserving its green spaces remains a significant concern. Hence, it becomes very important for the citizens of Chandigarh to buy term plan to ensure the financial security of their loved ones. Let’s understand more about term life insurance in Chandigarh. 

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Need For Term Insurance Based On Statistics Of Chandigarh

Here are some facts and statistics about Chandigarh that you must know to buy term insurance plan:

01
sex ratio:

The sex ratio in Chandigarh is 818, meaning there are 818 females for every 1,000 males. This is below the national average of 940 females for every 1,000 males, according to the latest census.

02
life expectancy:

In Chandigarh, the life expectancy at birth for stands at an average of 66.5 years for the years 2019-2021.

03
literacy rate:

The literacy rate in Chandigarh has increased to 86.05%, according to the latest census. Male literacy is 89.99%, while female literacy is 81.19%.

04
metro area population:

The metro area population of Chandigarh in 2022 was 1,191,000, which is a 1.88% increase from 2021. In 2021, the population was 1,169,000, a 1.83% increase from 2020.

05
road accidents:

In 2022, Chandigarh had 79 fatal road accidents resulting in 83 deaths, showing a decrease from 2021 when there were 94 fatal accidents and 96 deaths.

06
cancer rates:

Cancer registries in Punjab and Chandigarh report age-adjusted cancer rates in Chandigarh as 96.6 per 100,000 men and 100.9 per 100,000 women.

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Term Life Insurance Quotes in Chandigarh 2024

Chandigarh faces several problems, including increasing traffic, which has worsened due to the growing number of vehicles and inadequate public transportation system. Rapid urbanization is putting pressure on infrastructure, leading to challenges in waste management and water supply. Moreover, air pollution is another growing concern that the city is experiencing, including a rise in housing, education and healthcare costs. Hence, people living in Chandigarh must buy the term insurance plans to secure the their families amidst such conditions. 

You can find the term life insurance plans in Chandigarh easily online through Policybazaar. With the help of their comparison engine, you can compare plans from 20+ Indian insurers company and buy the term plan. Here are some of the plans along with their benefits.

Life Insurance Company Term Insurance Plan Claim Settled Amount (cr) Entry Age Sum Assured Additional Benefits
Aditya Birla Sun Life Insurance Company Limited ABSLI Salaried Term Plan 458 21 to 55 years Rs. 50 Lakhs to Rs. 5 Crores
  • Exclusively designed for salaried individuals
  • Accelerated Critical Illness
  • Tax Benefits
Aviva Life Insurance Company India Limited Aviva Signature 3D Term Plan 98 18 to 65 years Rs. 5 Lakhs to no limit
  • Financial protection for family
  • Enhance cover with riders
  • Tax benefits
Bajaj Allianz Life Insurance Company Limited Bajaj Allianz eTouch 603 18 to 55 years Rs. 50 Lakhs to Rs. 10 Crores
  • Terminal Illness
  • Waiver of Premium
  • Early exit benefit
Bandhan Life Insurance Company Limited Bandhan Life iTerm Prime 86 18 to 65 years Rs. 25 Lakhs to Rs. 20 Crores
  • Special Exit Value
  • AD Rider
  • CI Care Rider
Bharti Axa Life Insurance Company Limited Flexi Term Pro 148 18 to 65 years Rs. 25 Lakhs to no limit
  • Choose from 2 cover options
  • Get single or joint cover
  • Life stage benefits
Canara HSBC Life Insurance Company Limited Canara Young Term Plan 186 18 to 45 years Rs. 25 Lakhs to Rs. 20 Crores
  • Block Your Premium
  • Special Exit Value
  • Child Care Benefit
Edelweiss Life Insurance Company Limited Edelweiss Life Zindagi Plus 59 18 to 65 years Rs. 25 Lakhs - no limit
  • Option to cover spouse as well
  • Increase cover yearly
  • Post-hospitalisation benefits offered
Future Generali India Life Insurance Company Limited Future Generali India Term Insurance Plan 33 18 to 60 years Rs. 50 Lakhs to no limit
  • Financial protection for family
  • Tax benefits
  • Enhance cover with riders
HDFC Life Insurance Company Limited HDFC Click 2 Protect Super 1,389 18 to 65 years Rs. 50 Lakhs to Rs. 20 Crores
  • Terminal illness Benefit
  • Waiver of Premium on Critical Illness and Total and Permanent Disability
  • Return of Premium option
ICICI Prudential Life InsuranceCompany Limited ICICI iProtect Smart 1,950 18 to 65 years Rs. 50 Lakhs to Rs. 20 Crores
  • Terminal Illness benefit
  • Waiver of Premium
  • Life stage benefit
IndiaFirst Life Insurance Company Limited IndiaFirst Life Elite Term Plan 160 18 to 60 years Rs. 1 Lakh to Rs. 5 Crore
  • Long term cover
  • Financial protection for family
  • Flexible premium payments
Kotak Mahindra Life Insurance Company Limited Kotak Life e Term 321 18 to 65 years Rs. 50 Lakhs to Rs. 10 Crores
  • Smart Exit Benefit
  • Wellness Benefit
Life Insurance Corporation of India LIC New Tech Term Plan 18,398 18 to 65 years Rs. 50 Lakhs to no limit
  • Choose from 2 sum assured
  • Enhance cover with riders
  • Pay premiums as per convenience
Max Life Insurance Company Limited Max Life Smart Secure Plus 1,242 18 to 60 years Rs. 25 Lakhs to Rs. 1 Crore
  • Terminal Illness
  • Accelerated Critical Illness Benefit
  • Special Exit Value
  • Joint Life option
PNB MetLife India Insurance Company Limited PNB MetLife Mera Term Plan Plus 407 18 to 50 years Rs. 50 Lakhs to Rs. 10 Crores
  • Life stage benefit
  • Terminal Illness
  • Accelerated Critical Illness
  • Waiver of premiums on ATPD or CI
Pramerica Life Insurance Company Limited Pramerica Life Rock Solid Plan 30 18 to 65 years Rs. 50 Lakhs to no limit
  • Smart Exit benefit
  • Option to choose increasing cover
  • Cover spouse in the same plan
SBI Life Insurance Company Limited SBI eShield Next Plan 1,676 18 to 65 years Rs. 50 Lakhs to Rs. 10 Crores
  • Terminal Illness
  • Flexible Death Benefit Payment Modes
  • Better Half Benefit
Shriram Life Insurance Company Limited Shriram Life Smart Protection Plan 109 18 to 65 years Rs. 30,000 to Rs. 14 Lakhs
  • Choose from 3 plan options
  • Get inbuilt accidental cover
  • Affordable premiums
Star Union DAI-ICHI Life Insurance Company Limited SUD Life Protect Shield Plus 113 18 to 60 years Rs. 1 Crore to 2 Crore
  • Change premium pay frequency
  • Choose convenient mode of payment
  • Tax benefits
Tata AIA Life Insurance Company Limited Tata AIA SRS Vitality Protect 776 18 to 60 years Rs. 50 Lakhs to Rs. 2 Crores
  • Early payout on Terminal illness
  • Accidental Death
  • Accidental Total & Permanent Disability

*Disclaimer: The list of insurers mentioned are arranged according to the alphabetical order of the name of insurance company respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

How to Buy Term Life Insurance from Policybazaar?

How can you contact Policybazaar to buy term insurance in Chandigarh?

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You can contact Policybazaar through the Claim Assistance Helpline Number at 1800-258-5881.

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Moreover, you can log in to the 'My Account' section on the Policybazaar website or directly use Policybazaar’s app to receive assistance if you have any queries.

*Note: You can easily contact Policybazaar insurance advisor to clear all doubts, and know about various term insurance plans available.

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Why Should You Buy Term Insurance In Chandigarh?

With Chandigarh’s extreme weather conditions, and pollution, there is an even more need for life insurance. Here are some more reasons why you should buy term insurance in Chandigarh:

  • Traffic Congestion: With increasing vehicles and inadequate public transportation, traffic congestion is a major issue. If the primary breadwinner unfortunately dies in a road accident, term insurance will help in paying the life cover, in the form of a death benefit, to financially protect the family.

  • Rapid Urbanization: The pressure on infrastructure from rapid urbanization can lead to accidents and health risks. If the bread earner unfortunately dies due to these urban challenges, term plan will financially protect the family.

  • Air Pollution: Industrial emissions and vehicle exhaust contribute to deteriorating air quality, leading to serious respiratory problems. If the policyholder unfortunately dies from pollution-related health issues, the death benefit will financially protect the family of the deceased policyholder.

  • Waste Management and Water Supply Issues: Inadequate waste management and water supply problems pose health risks to residents. If the earning member of the family unfortunately dies due to health complications from these issues, the death benefit will financially protect the family in the near future.

FAQ's

  • Q: Why is term life insurance important in Chandigarh?

    Ans: Chandigarh faces issues like traffic congestion, rapid urbanization, and air pollution. Term life insurance ensures financial security for your family if the primary breadwinner dies due to these challenges.
  • Q: What is the sex ratio in Chandigarh?

    Ans: The sex ratio in Chandigarh is 818 females for every 1,000 males, below the national average of 940 females per 1,000 males.
  • Q: What is the literacy rate in Chandigarh?

    Ans: Chandigarh has a literacy rate of 86.05%. Male literacy is 89.99%, while female literacy is 81.19%.
  • Q: What are the benefits of buying term insurance in Chandigarh?

    Ans: Term insurance provides financial security to your family in case of the breadwinner's death due to traffic accidents, urbanization challenges, air pollution, or health issues from waste management and water supply problems.
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in


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