Term Life Insurance in Meghalaya 2024

Additionally, issues like limited infrastructure and economic opportunities continue to pose hurdles for the state's development. Therefore, the people at Meghalaya must protect themselves from these uncertainties of life and buy term insurance plans, so that they can be protected in the near future, especially when times are not very favourable. Let’s discuss this in detail. 

Need For Term Insurance Based On Statistics Of Meghalaya

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

• The sex ratio in Meghalaya is 989, meaning there are 989 females for every 1,000 males, which is higher than the national average of 940.

• The average life expectancy in Meghalaya is 62.3 years, which is lower than the national average of 68.8 years (WHO, 2018).

• The literacy rate in Meghalaya has improved and is now 74.43%, according to the latest census.

• The current estimate population of Meghalaya is 38.16 Lakhs.

• Meghalaya ranks second in the country for cancer prevalence among men and 11th among women (ICMR-NCDIR, 2021).

• According to the latest data, in 2020, Meghalaya had a death rate of 5.3 deaths per 1,000 people.

Term Life Insurance Quotes in Meghalaya 2024

Meghalaya's beauty contrasts sharply with its diverse range of challenges. The region faces severe monsoon rains, causing frequent landslides and floods that disrupt daily life and infrastructure. Additionally, limited economic opportunities and underdeveloped infrastructure hinder progress, while remote areas struggle with access to quality healthcare and education. These challenges create a complex backdrop to the state's natural allure.

Term insurance in Meghalaya can easily be found online on Policybazaar (official website or app) by comparing different term insurance plans offered by different insurers. Policybazaar has its own comparison engine where you can easily compare term plans from 15+ top insurers. Here is a list of all the term life insurance plans in Meghalaya:

*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 can you contact Policybazaar to buy term insurance in Meghalaya?

You can reach out to Policybazaar for assistance with your term plan in Meghalaya using the following resources:

Claim Assistance Helpline:

For claim support, call Policybazaar's helpline at 1800-258-5881.

Manage your claims conveniently by logging into 'My Account' on the Policybazaar website.

Policybazaar App:

Download the Policybazaar app for prompt customer support.

Address any insurance-related questions directly through the app.

*You can also contact Policybazaar insurance advisor to clear all your doubts related to existing or new term plans, resolve queries, and know about claim settlement.

Why Should You Buy Term Insurance In Meghalaya?

There are multiple reasons why people of Meghalaya must definitely buy term insurance or life insurance plans. Here are some of those reasons discussed in detail:

• Limited Economic Opportunities: Many areas in Meghalaya have limited job opportunities, leading to high unemployment rates. This economic instability makes it difficult for families to save money and secure their future. Term insurance offers financial stability to families, ensuring their needs are met during times of economic uncertainty, when the policyholder is no more there with them.

• Poor Infrastructure: Inadequate infrastructure, including poorly maintained roads and limited access to utilities, hampers development and connectivity. This affects transportation, healthcare, and education services, making it challenging for residents to lead a comfortable life. Term insurance provides the funds necessary to cope with infrastructure-related challenges and unforeseen expenses in the event of the policyholder’s unfortunate demise.

• Healthcare Access: Remote and rural areas in Meghalaya often lack proper healthcare facilities. Residents may have to travel long distances to receive medical care, which can be both time-consuming and expensive, especially during emergencies. Term insurance ensures that policyholder and his/her families have financial support for medical emergencies and healthcare needs. For example, with the help of critical illness benefit, terminal illness benefit, etc. in term insurance, people are now secured of major health related problems. Therefore, term insurance provides peace of mind by covering medical costs, enabling individuals to prioritize their health and well-being without worrying about the financial implications of healthcare expenses.

• Educational Challenges: Many regions face educational challenges due to inadequate schools and lack of resources. This limits the opportunities for children to receive a quality education, impacting their future prospects and overall socio-economic development. Term insurance can help secure the funds needed for children's education, providing them with better future opportunities.