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Term Life Insurance in Sikkim 2024

Sikkim is a Northeastern Indian state bordered by Bhutan, Tibet and Nepal, and is known for the beautiful landscapes, glaciers and meadows. Sikkim is also home to India’s highest mountain, Kangchenjunga, standing at 8,586 metres. However, people in Sikkim face a number of challenges primarily due to its rugged terrain and climate. Monsoons, which typically last from June to September, bring heavy rainfall, leading to frequent landslides and road blockages that disrupt transportation and communication. 

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Therefore, you must secure your loved ones in such situations so that financial problems do not affect their future. Term Insurance is one of the best ways to financially protect your family, who live in Sikkim, from life’s various uncertainties. Let’s understand in detail about term insurance in Sikkim and the top term plans that you can compare and buy to protect your loved ones. 

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+

Data from Sikkim Highlighting the Importance of Term Insurance

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

01
Sex Ratio:

The sex ratio in Sikkim is 890 females for every 1,000 males, which is below the national average of 940 according to the latest census.

02
Life Expectancy:

In Sikkim, life expectancy is slightly higher for females (75.8 years) than for males (70.5 years).

03
Death Rate:

In 2020, Sikkim's death rate was 4.1 deaths per 1,000 people.

04
Literacy Rate:

The literacy rate in Sikkim has been increasing and is now 81.42 percent according to the latest census. Male literacy is 86.55 percent, while female literacy is 75.61 percent.

05
Population Estimate:

Sikkim is the least populated Indian state, with a population estimate of about 6 Lakhs people. *The last census in Sikkim was held in 2011, and the next one, scheduled for 2021, has been postponed until 2024

06
Cancer Incidence:

From 2005 to 2016, the annual percent change (APC) in cancer incidence was 1.6% for females and 0.7% for males. In females, breast, cervix-uteri, and stomach cancer showed an increasing trend.

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Best Term Life Insurance Quotes in Sikkim 2024

Known for its pleasant weather and hilly terrains, Sikkim faces many challenges, such as unstable crop yields, which directly impact the livelihoods of its agriculture-based communities. Moreover, monsoon rains from June to September often cause landslides and road blockages, disrupting daily life and agriculture. In winter, heavy snowfall isolates remote communities, leading to shortage of basic supply. Environmental degradation from increased tourism and infrastructure development further strains the region. Hence, it is important that you financially protect your loved ones and buy the best term insurance plan.

You can find the top term insurance plans in Sikkim online, with the help of Policybazaar's website. Here, you can compare term plans from 15+ top insurers of India. Simply use their online comparison tool to find the best plan to protect your family in Sikkim.

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

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

You have a number of options for contacting Policybazaar. 

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You can reach out to their Claim Assistance Helpline Number at 1800-258-5881 for any assistance with your claims.

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  • To contact online, you can log in to the 'My Account' section on Policybazaar’s official website, where you can access various services and manage your policies conveniently.
  • You can also use Policybazaar’s mobile application, that has a user-friendly interface to help you with your term plan and address any doubts or queries you may have, ensuring prompt assistance right at your fingertips.

*Note: You can directly contact Policybazaar insurance advisor and get all your doubts resolved. However, you must first learn about various term plans and know what is term insurance to buy the right term plan.

How to Buy Term Life Insurance from Policybazaar?

Why Should You Buy Term Insurance In Sikkim?

Since a term plan is a safety net for your loved ones, you should buy term plan or life insurance plan and be relaxed knowing that your family is protected from all uncertainties of life in case of your untimely death. Here are some more reasons why you should buy term plan in Sikkim:

  • Monsoon-Induced Landslides: Sikkim's terrain is highly susceptible to landslides during the monsoon season, which lasts from June to September. These landslides often result in road blockages and destruction of property, posing significant risks to life. In such a scenario, if the breadwinner of a family were to tragically lose their life, term insurance can provide crucial financial support to the family, ensuring they are not left struggling economically.

  • Harsh Winter Conditions: During the winter months, particularly in high-altitude areas, heavy snowfall can isolate communities, making access to essential services and supplies difficult. This isolation can sometimes lead to fatal outcomes. Term insurance can be a safeguard, offering a financial safety net to the family of the deceased, helping them to cope with the sudden loss of income.

  • Agricultural Vulnerability: Sikkim’s economy is heavily dependent on agriculture, which is vulnerable to climatic variations such as excessive rainfall and unexpected droughts. Crop failures can severely impact farmers' livelihoods. If a farmer, as the primary breadwinner, were to die due to the stress and hardships caused by such challenges, term insurance would provide a financial cushion to the family, helping them manage their expenses and future needs.

  • Environmental Degradation: The increasing tourism and development activities in Sikkim are leading to environmental degradation, which poses health and safety risks to the local population. Exposure to hazardous conditions can result in fatal accidents. In such cases, term insurance ensures that the family of the deceased has financial protection, helping them to sustain their living standards and cover immediate costs.

  • Limited Healthcare Access: The remote and rugged terrain of Sikkim often makes access to quality healthcare difficult, especially in emergencies. This can lead to fatalities from otherwise treatable conditions. If the main income earner succumbs to such a health crisis, term insurance can provide the necessary financial support to the surviving family members, helping them to pay for medical bills, daily expenses, and future financial needs.

*Note: You can use the term insurance calculator to easily estimate your term insurance premiums


FAQ's

  • Q: Why is Term Insurance Important for Families in Sikkim?

    Ans: Term insurance is essential for families in Sikkim due to the state's annual challenges, including environmental damage, road accidents, and socio-economic disparities. It provides financial security against uncertainties, ensuring your loved ones are protected.
  • Q: How Can I Buy Term Insurance in Sikkim?

    Ans: You can buy term insurance in Sikkim through Policybazaar's website or app. Additionally, you can contact Policybazaar's Claim Assistance Helpline Number at 1800-258-5881 for assistance with purchasing term insurance or resolving queries.
  • Q: Why Should I Buy Term Insurance in Sikkim?

    Ans: Term insurance provides financial protection against environmental risks, healthcare expenses, socio-economic disparities, and future planning. It covers accidents, ensuring your family's financial security in unexpected events.
  • Q: How Can I Contact Policybazaar to Buy Term Insurance in Sikkim?

    Ans: You can call Policybazaar's Claim Assistance Helpline Number at 1800-258-5881 or visit their website to explore term insurance options. The Policybazaar app also provides a user-friendly interface for purchasing term insurance and resolving queries.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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