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Term Life Insurance in Karnataka 2024

Karnataka is a south-Indian state with the third largest economy in the country. It is famous for its diverse culture and flourishing IT sector that welcomes people from all parts of the country. While people arrive in Karnataka for job opportunities and excellent education facilities, the fast-paced nature of the state also welcomes several challenges.

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From population explosion to groundwater depletion, Karnataka’s current scenario forces people to take necessary measures and provide a safety net for their loved ones, considering the unforeseeable future. Therefore, it is advised that you buy term insurance and protect your loved ones against all the challenges faced in this Indian state. Let’s discuss the importance of term life insurance in Karnataka here. 

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Need For Term Insurance Based On Statistics Of Karnataka

Here are some facts and statistics about Karnataka that you must know before you proceed to buy term plan:

  • Life expectancy in the state of Karnataka is the lowest in South Indian states, standing at 69.5 years.

  • As per recent data, approximately 11000 people have lost their lives in road accidents in Karnataka in 2022.

  • Karnataka is one of the top 5 Indian states with the highest number of suicide cases.

  • Karnataka is famous for its unpredictable weather all throughout the year, which poses severe health risks.

  • As Karnataka’s Bangalore is the IT hub of India, it is now one of the most populated cities in India, with a population of over 1.6 Crores. 

  • According to recent data from Karnataka's Civil Registration System (CRS), the child sex ratio at birth in Karnataka has dropped from 947 in 2021 to 929 in 2022. 

  • As per recent data, in 2020, Karnataka, India, had an infant mortality rate of approximately 19 deaths per 1,000 live births.

How to Buy Term Life Insurance from Policybazaar?

Term Life Insurance Quotes in Karnataka 2024

Karnataka is a diverse Indian state with impressive economic growth. However, with the influx of population in major cities of the state, inflation and pollution have been primary challenges that people regularly suffer from. Bangalore city authorities have recently reported that out of 13900 borewells drilled in the city, 6900 have run dry, even though some were drilled as deep as 1500 feet. Therefore, people living in Karnataka must be extra sure of their families’ well-being, considering these hazards. Term insurance is the way to ensure that in the unfortunate event of your demise, your family living in Karnataka will not suffer financial burden.

Term insurance plans in Karnataka can be found online on Policybazaar, where you can compare different term plans offered by the insurers in India. Policybazaar has its own comparison engine where you can easily compare term plans from 20+ insurers. Here is a list of all the term life insurance plans in Karnataka:

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+

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

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

You can easily visit the below-mentioned address to contact Policybazaar in Karnataka to buy term plan:

PolicyBazaar Insurance Brokers Private Limited, 

Diamond District, Gate-2, Tower B, 

3rd Floor, Old Airport Road, 

Kodihalli, Bangalore, Karnataka, 560008

Further, you can contact Policybazaar at their Claim Assistance Helpline Number: 1800-258-5881.

You can also log in to the 'My Account' section on their website or use the official page of Policybazaar to receive assistance regarding any doubts or queries.

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Why Should You Buy Term Insurance In Karnataka?

Karnataka offers great opportunities to people from all parts of the country to establish a future. But at the same time, the state also harbours several challenges that people must be careful of. For example, the number of accident cases in Karnataka has increased, floods have wrecked the streets and infrastructure, and traffic has made communication difficult. Moreover, rising healthcare costs and medical emergencies are additions to a person’s stress. These unpredictable situations make term and life insurance a necessary safety net in Karnataka. Here are some more reasons why you should buy term insurance in Karnataka:

  • Financial Security Amid Rising Expenses: As living costs rise in Karnataka, term insurance offers comprehensive financial protection for your family, so these rising costs will not burden them even when you’re not there anymore. The sum assured can cover essential expenses like education, housing, and daily needs, ensuring your family's well-being during economic challenges.

  • Career Uncertainty in a Dynamic Job Market: With Karnataka's diverse industries, job uncertainty is common. Under such situations, it is even more crucial to ensure that your family is well-secured. Term insurance acts as a safety net, providing financial security for your loved ones in case of your sudden demise, ensuring they maintain their lifestyle and financial stability after your death.

  • Securing Children’s Education and Future: Karnataka is a hub for fine education, attracting families with aspirations for their children's academic growth. Term insurance secures your children's future education financially, ensuring they have adequate aid even if you're not there.

  • Handling Healthcare Expenses: Despite Karnataka's focus on healthcare, medical emergencies and costs can strain your finances. Term insurance covers potential medical expenses, ensuring your family can handle health crises without any financial burden.

FAQs

  • Q: Why is term insurance important in Karnataka?

    Term insurance is crucial in Karnataka due to various factors such as a declining child sex ratio, high mortality rates, and unpredictable weather conditions. It provides financial security to your loved ones amidst rising expenses and uncertain situations.
  • Q: How can I contact customer support to resolve queries about term insurance?

    You can easily contact Policybazaar insurance advisor to clear all doubts, resolve queries, and know about various term plans available.
  • Q: How can I find out the term insurance plans in Karnataka 2024?

    Policybazaar has its own comparison portal where you can compare different term plans from different insurers as per your needs from 20+ insurers.
  • Q: How can I contact Policybazaar to buy term insurance in Karnataka?

    You can contact Policybazaar by visiting their office at Diamond District, Gate-2, Tower B, 3rd Floor, Old Airport Road, Kodihalli, Bangalore, Karnataka, 560008. Additionally, you can reach them at their Claim Assistance Helpline Number: 1800-258-5881 or through their official website.
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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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