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Term Life Insurance in Odisha 2024

Odisha is an eastern-Indian state known for its rich culture, handicraft industry and several national parks and wildlife sanctuaries. However, as the state rapidly grows socio-economically, it witnesses numerous challenges, like growing population, rising healthcare and education costs, and most importantly, natural calamities, like cyclones, floods, etc., happening yearly. 

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Under such circumstances, Odisha's residents must protect their families' financial future by making an important financial decision, i.e. buying term insurance. Hence, let's explore why term insurance is an important financial decision for people in Odisha. 

one crore term plan
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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 Odisha

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

01
Life Expectancy:

According to estimations of NFHS, in Odisha, the life expectancy at birth stands at 67.1 years in 2019-21.

02
Road Accidents:

According to state police data, road accident deaths in Odisha increased by 4% in 2023 compared to 2022.

03
Suicide Cases:

In the past five years, suicide cases in Odisha have risen by 20.20%. As per current data, the suicide rate in Odisha is 12.5%, slightly higher than the national average of 12%.

04
Current Population:

As per the last updated statistic, the current population of Odisha is around 4.79 Crores. *Last census in Odisha took place in 2011, and the next one, scheduled for 2021, has been postponed until 2024

05
Literacy rate:

As per latest data, the literacy rate in Odisha has been rising and is now 72.87% according to the latest population census. Among that, male literacy is 81.59%, and female literacy is 64.01%.

06
Sex ratio:

According to the latest census, the sex ratio in Odisha is 979 females for every 1000 males, which is higher than the national average of 940.

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

Term Life Insurance Quotes in Odisha 2024

Odisha residents face various challenges, such as annual cyclones and floods, and costly healthcare and education facilities. Therefore, they should definitely buy term plan to safeguard their families' financial stability. Policybazaar is a simple and convenient online platform to compare various term plans and select the most suitable plan, as per requirements and life goals.

You can find the term insurance plans in Odisha easily online at Policybazaar. You can use Policybazaar's comparison tool to compare various term plans according to your specific criteria, life goals, and needs. With Policybazaar, you can easily compare term plans from more than 15 leading insurers and purchase the plan that fits your needs.

How to Buy Term Life Insurance from Policybazaar?
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 Odisha?

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You can call Policybazaar and solve all your doubts at their Claim Assistance Helpline Number: 1800-258-5881.

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You can also get help with any questions or concerns by logging into their website's 'My Account' section or using the Policybazaar app.

Why Should You Buy Term Insurance In Odisha?

Because of the many challenges that the people of Odisha face, it's really important for them to consider their family's financial security. Hence, term insurance is one of the ways to cover their families in the long run. These plans are like a safety net that helps protect their loved ones if something unexpected happens, like an accident or illness. So, buying term or life insurance is a smart move for people in Odisha to make sure their families are safe, no matter what happens. Here are some more reasons why term insurance is a must-buy for people living in Odisha or the whole state:

  • Protection Against Natural Disasters: Odisha often goes through mighty cyclones and floods. Term insurance offers financial support to families if the bread earner, unfortunately, passes away during such disasters, helping them rebuild their lives without money worries.

  • Tackling Healthcare Costs: Receiving good healthcare can be hard, especially in rural areas. Term insurance covers medical costs so families can pay for treatments without stress.

  • Educational Aspirations: Higher education is advancing rapidly in Odisha, especially in fields like medicine and engineering. But this can be expensive for many people, especially if the breadwinner suddenly dies. Therefore, term insurance helps parents ensure their children can pursue dreams and aspirations without financial stress.

  • Income Stability: Many families in Odisha depend on farming or small businesses, like handicrafts, handloom, etc. Term insurance gives them replacement income if the main earner dies early, keeping the family financially secure.

  • Covering Accidents: The rising number of road accidents in the state indicates how crucial it is to be prepared for unexpected situations. Term insurance helps families financially if the policyholder, unfortunately, dies in a road accident, giving them financial protection in the future. Moreover, a term plan also allows the policyholder to avail of benefits (riders) such as the Accidental Total and Permanent Disability benefit if he/she suffers from total or permanent disability because of the accident.

FAQ's

  • Q: How can I contact customer support to resolve queries about term insurance?

    Ans: You can easily contact Policybazaar insurance advisor to resolve queries, and learn about the various term insurance plans available.
  • Q: Why should Odisha residents consider buying term insurance?

    Ans: Odisha faces various challenges, such as cyclones, floods, costly healthcare, and education. Term insurance ensures financial security for families during such crises.
  • Q: How can I find the term insurance plans in Odisha?

    Ans: Policybazaar allows you to easily compare and purchase plans online. Their comparison tool helps you choose the most suitable plan for your needs.
  • Q: What are some benefits of term insurance plans available in Odisha?

    Ans: Term plans offer benefits like coverage against natural disasters, healthcare expenses, educational expenses, income stability, and accident coverage, providing comprehensive financial protection.
  • Q: How can I contact Policybazaar for assistance in buying term insurance in Odisha?

    Ans: You can call Policybazaar's Claim Assistance Helpline Number, 1800-258-5881, or get help through their website's 'My Account' section or the Policybazaar app.
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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