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Term Insurance for Maharashtra

Maharashtra, a state filled with lively cities and beautiful countryside, faces its own challenges. The state deals with too many people, traffic, and sometimes floods or droughts. With over 12 crore residents, getting good healthcare and staying safe can be tough. That's where term insurance comes in. It's like a safety net for your family's finances. By understanding why term insurance matters, you can protect your loved ones, no matter what life throws at them in Maharashtra.

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Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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Need for Term Insurance Based On Statistics Of Maharashtra

Let us take a look at some of the statistics of Maharashtra that you need to know while buying term insurance plans:

  • Maharashtra has an average Life Expectancy Rate of 72.5% 

  • In 2020, the Birth Rate in Maharashtra was at 5.5

  • The Mortaily Rate in 2020 was 16 per 1000 live births

  • The Literacy Rate in 2024 is 82.34, as per the latest population census

  • The state has a below national average Sex Ratio of 929 females for every 1000 males

  • The state of Maharashtra had a total of 8177165 Covid cases as per the latest data

These reasons collectively shed light on the importance of term insurance in Maharashtra. Term plans provide the needed financial protection to your family at highly affordable rates, starting at just Rs. 473 per month.

Best Term Life Insurance Quotes in Maharashtra

Maharashtra experiences a wide range of weather patterns, from scorching summers to heavy monsoon rains, which can bring about unforeseen calamities such as floods and cyclones, disrupting livelihoods and causing financial strain. Moreover, the state struggles with health issues like tropical diseases, waterborne illnesses, and rising medical costs. 

In such conditions, buying the best term insurance plan in India becomes important to ensure the family’s financial stability. Whether it's providing for education, healthcare expenses, or securing the family's future amidst the uncertainties of life in Maharashtra, term insurance stands as a reliable safety net tailored to the needs of the state's residents.

Term Insurance in Maharashtra Entry Age Sum Assured Additional Benefits
ICICI Prudential iProtect Smart 18 - 65 years Rs. 50 Lacs - Rs. 20 Crores
  • Terminal Illness benefit
  • Waiver of Premium
  • Life stage benefit
HDFC Life Click 2 Protect Super 18 - 65 years Rs. 50 Lacs - Rs. 20 Crores
  • Terminal illness Benefit
  • Waiver of Premium on Critical Illness and Total and Permanent Disability
  • Return of Premium option
Max Life Smart Secure Plus 18 - 60 years Rs. 25 Lacs - Rs. 1 Crore
  • Terminal Illness
  • Accelerated Critical Illness Benefit
  • Special Exit Value
  • Joint Life option
TATA AIA SRS Vitality Protect 18 - 60 years Rs. 50 Lacs - Rs. 2 Crores
  • Early payout on Terminal illness
  • Accidental Death 
  • Accidental Total & Permanent Disability 
Bajaj Allianz Life eTouch 18 - 55 years Rs. 50 Lacs - Rs. 10 Crores
  • Terminal Illness
  • Waiver of Premium
  • Early exit benefit 
PNB MetLife Mera Term Plan Plus 18 - 50 years Rs. 50 Lacs - Rs. 10 Crores
  • Life stage benefit
  • Terminal Illness 
  • Accelerated Critical Illness
  • Waiver of premiums on ATPD or CI
Canara HSBC Young Term Plan - Life Secure 18 - 45 years Rs. 25 Lacs - Rs. 20 Crores
  • Block Your Premium
  • Special Exit Value
  • Child Care Benefit
Kotak Life e-Term 18 - 65 years Rs. 50 Lacs - Rs. 10 Crores
  • Smart Exit Benefit
  • Wellness Benefit
Edelweiss Life Zindagi Protect 18 - 65 years Rs. 50 Lacs - No Limit
  • Flexible Death Benefit Payment Modes
  • Tax Benefits
Aegon Life iTerm Prime 18 - 65 years Rs. 25 Lacs - Rs. 20 Crores
  • Special Exit Value
  • AD Rider
  • CI Care Rider
ABSLI Salaried Term Plan 21 - 55 years Rs. 50 Lacs - Rs. 5 Crores
  • Exclusively designed for salaried individuals
  •  Accelerated Critical Illness
  • Tax Benefits
SBI Life eShield Next 18 - 65 years Rs. 50 Lacs - Rs. 10 Crores
  • Terminal Illness
  • Flexible Death Benefit Payment Modes
  • Better Half Benefit

* You can use a term insurance premium calculator to estimate the premiums you would need to pay for the desired life cover.

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

How To Contact Policybazaar in Maharashtra To Buy Term Plan?

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

Policybazaar Insurance Brokers Private Limited

Infinity Tower Mindspace, 1-B, Zakeria Rd, 

Behind Lakozy Toyota showroom, Malad, 

Rajan Pada, Ekta Nagar, Malad West, 

Mumbai, Maharashtra 400064

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

How to Buy Term Life Insurance from Policybazaar?

Why Should You Buy Term Insurance in Maharashtra?

Buying term insurance is essential for Maharashtra residents, given the state's diverse climate and prevalent health concerns. The need for financial protection is evident, from extreme weather conditions like floods and cyclones to health challenges such as tropical diseases. 

Term insurance provides a crucial safety net, offering comprehensive coverage against life's uncertainties. Whether securing education funds, covering medical expenses, or ensuring family financial stability, term insurance offers peace of mind and protection against the unpredictable nature of life in Maharashtra. With affordable premiums and tailored coverage, it's a proactive step towards securing loved ones' well-being and mitigating financial risks.

  • Financial Protection: Term insurance in Maharastra provides your family with the required financial stability in case of an unforeseen event. Considering the state's diverse weather conditions, these plans become essential for people living in Maharashtra.

  • Affordable Premiums: Since term insurance is generally the most affordable type of life insurance, term plans in Maharashtra are also highly affordable. These plans allow people from various financial backgrounds to buy term insurance. You can buy a 1 Crore term insurance starting at just Rs. 473 monthly.

  • Child’s Future Education: With the ever-rising education costs in Maharashtra, your family might struggle to pay for a child’s higher education in your absence. With term insurance, your family can use the benefit amount to pay for the child’s education.

  • Tax Saving Benefits: You can claim tax benefits in term insurance under sections 80C, 80D, and 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws.

  • Peace of Mind: Term insurance in Maharashtra provides you with the peace of mind that your family will be financially protected in the event of your untimely demise. This allows you to live a stress-free life.

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Term Insurance FAQs

  • Q: What is term insurance?

    Term insurance is one of the most affordable types of life insurance that offers large life cover at affordable premiums. You can buy these plans online or offline at your convenience.
  • Q: How does term insurance work?

    Term insurance works by the insurer covering the financial stability of the nominees in exchange for regularly paid premiums. In case the policyholder suffers an untimely death during the policy term, the insurer will pay the death benefit to the nominee.
  • 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 Maharashtra?

    Yes, you can easily buy term insurance online in Maharashtra 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 best term insurance plans in Maharashtra 2024?

    Policybazaar is an online aggregator that offers its own comparison engine that allows you to compare plans from over 15+ top insurers.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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