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Term Insurance in Madhya Pradesh

Nestled in the heart of India, Madhya Pradesh is a state known for its rich history, diverse culture, and stunning natural beauty. With its expansive forests, ancient temples, and serene rivers, Madhya Pradesh captivates visitors with its charm and tranquility.

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However, amidst the beauty lies the need for financial protection against life's uncertainties. From bustling cities like Bhopal and Indore to rural villages that dot the landscape, Madhya Pradesh residents face various challenges. With a population of over 7 Crores, access to affordable financial security is crucial for the people of Madhya Pradesh. In this guide, we'll explore how term insurance can provide a vital safety net for families across the state, ensuring peace of mind and financial stability in the face of life's unpredictable twists and turns.

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+Price is calculated for salaried, annual income 10 Lacs & education is graduate and above.

Need for Term Insurance Based on Madhya Pradesh Statistics

Here is a list of Madhya Pradesh statistics that help understand the importance of term insurance in the state:

  • Madhya Pradesh has a total population of over 7 Crores 

  • The death rate in the state in the year of 2020 was 6.5

  • Madhya Pradesh has the highest Infant Mortality Rate of 48

  • The life expectancy of the residents in the state is 66.5 years

  • The state recorded over of 10 Lakh Covid Cases, out of which 10,786 resulted in deaths

The aforementioned statistics of the state, highlight the importance of buying term insurance in Madhya Pradesh. You can easily buy a 1 Crore term insurance online starting at just Rs. 473 monthly.

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+

Term Life Insurance Quotes in Madhya Pradesh

Madhya Pradesh, renowned for its rich cultural heritage and historical significance, beckons people from various walks of life. The state's vibrant cities and tranquil countryside offer a unique blend of opportunities and challenges. With a growing population and increasing urbanization, Madhya Pradesh faces issues like inadequate healthcare access, particularly in rural areas, and rising living costs. For residents navigating these dynamics, securing the right term insurance plan is crucial to safeguard their family's financial future.

In Madhya Pradesh, finding the term life insurance plans is made simple with online platforms like Policybazaar. Their user-friendly comparison engine allows you to evaluate plans from over 15 life insurers, empowering you to make well-informed decisions. Below is a curated list of some of the term life insurance plans tailored to meet the needs of Madhya Pradesh residents:

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

* You can use a term insurance premium calculator to calculate the premiums you need to pay for the required life cover.

How to Buy Term Life Insurance from Policybazaar?

How To Contact Policybazaar in Madhya Pradesh To Buy Term Plan?

You can contact Policybazaar in Madhya Pradesh to get your policy related queries resolved at the Claim Assistance Helpline number 1800-258-5881, log in to the 'My Account' section on their official website, or simply use the Policybazaar app.

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Why Buy Term Life Insurance in Madhya Pradesh?

As the heart of India, Madhya Pradesh boasts a rich tapestry of culture, history, and natural wonders. From the majestic forts of Gwalior to the tranquil shores of the Narmada River, the state mesmerizes with its diverse landscapes and heritage. However, amidst its beauty lies a stark reality: the challenges faced by its residents. With a growing population and varying economic conditions, ensuring financial security is essential. Madhya Pradesh is prone to natural disasters like floods and droughts, while health concerns such as vector-borne diseases remain prevalent. In such a dynamic environment, term insurance emerges as a crucial tool for Madhya Pradesh residents to safeguard their families' futures.

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  • Financial Protection: Term insurance in Madhya Pradesh protects your family’s financial stability in your absence by providing them with the sum assured as a death benefit. They can use the benefit amount to take care of their financial needs like rent, child’s fees, and other monthly expenses.

  • Pay off Loans/Debts: Your family can use the benefit amount to pay off any remaining loans and debts like home, car, and student loans that may fall on their shoulders in your absence.

  • Secure Child’s Future: You can secure your child’s financial future with term insurance in Madhya Pradesh and ensure they are able to pay for their higher education, future wedding, and fund their career needs.

  • Tax Benefits: The government of India offers term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws.

  • Peace of Mind: With term insurance in Madhya Pradesh, you can live your life stress-free knowing that your family is financially protected in case of your unfortunate demise during the policy term.

FAQs

  • Q: What is term insurance?

    Term plans are a type of life insurance that offers a large life cover for a long policy term at highly affordable premium rates. You can buy these plans by comparing them online on the basis of their premiums, policy terms, sum assured, or company CSR.
  • Q: How does term insurance work?

    Term insurance provides the desired life cover to the policyholder in exchange for premiums paid regularly. These plans are easy to buy and offer customizations to ensure better suitability for the policyholder and nominees.
  • Q: Is term insurance tax-deductible?

    Yes, term insurance offers tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961 as per the prevailing tax laws.
  • Q: Can I buy term insurance online in Madhya Pradesh?

    Yes, you can easily buy term insurance online in Madhya Pradesh from Policybazaar offline or online at your convenience.
  • Q: How can I contact customer support to resolve queries about term insurance?

    You can easily get in touch with the Policybazaar insurance advisor to get your doubts and queries resolved and learn about various available term plans.
  • Q: How can I find out the term insurance plans in Madhya Pradesh 2024?

    Policybazaar is an online aggregator that offers its own comparison engine that allows you to compare plans from 20+ insurers.
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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


Choose Term Insurance Plan as per you need

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