Term Life Insurance in Telangana 2024

The state witnesses a rise in the cost of living by 8.5% to 10% annually. Under such circumstances, it becomes crucial for the head of the family to recognize the significance of financial planning and invest in a term insurance plan. Term insurance plans act as a safety net and ensure the well-being of family members or policyholders by offering them financial assistance during the crisis. 

Let us discuss why buying a term life insurance plan has become crucial for the people of Telangana. 

Need For Term Insurance Based on Statistics of Telangana

Here are some facts and statistics about Telangana that insurance buyers must know to buy a term insurance plan.

• Development of the State: According to the economic estimates, Telangana’s GSDP (Gross State Domestic Product) was more than Rs. 12 lakh crores in the financial year 2022-23 compared to Rs. 7 lakh crores in the year 2014-25.

• Life expectancy: The state has 62.4 life expectancy at birth.

• Sex ratio at birth: Telangana's average sex ratio at birth is 988.

• Literacy rate: The average literacy rate in Telangana is 66.54%.

• Population of the state: Telangana has a population of 350.04 lakh people. 

• Accidental death: Telangana recorded 21.62 thousand accidental deaths in 2022.

• Cancer statistics: The cancer cases in Telangana were 47,620, 48,775 and 49,938 in 2020, 2021, and 2022 respectively. 

• Covid stats: Telangana recorded a total of 6,52,785 Covid-19 cases.

To conclude, we can say that Telangana has one of the lowest life expectancy rates in India. The literacy rate has a slight nuance as compared to the country’s data. In addition, the state has recorded various accidental death cases which is not a good sign as it may affect the livelihood of many families or dependents. The state is also affected by the cancer statistics. Therefore, it is important for a person to buy the term life insurance to protect his dependent or family from the aforementioned risks.

Term Life Insurance Quotes in Telangana 2024

Telangana is one of the developing states in India. People may witness the growth of this state in terms of economy, infrastructure, startups etc. Many urban cities of Telangana offer shopping centres, luxurious lifestyles with cafes and entertainment etc. This has led to an increase in the population of the state which has further increased the prices and demand of essential commodities and housing. Therefore, it becomes important for the citizens living in Telangana to buy a term life insurance plan in order to secure the financial future of their loved ones and avoid any uncertainties.

You can find the term life insurance plan by visiting the website of Policybazaar. With Policybazaar's comparison engine, you can compare from amongst 20+ insurers of India and buy the term insurance plan.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day⁺

VIEW PLAN

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

VIEW PLAN

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

VIEW PLAN

Here is the list of term insurance plans in Telangana.

*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 Telangana?

A person may easily visit the address given below to contact the Policybazaar in Telangana to buy the term insurance plan.

Policybazaar Insurance Brokers Private Limited

Ground Floor, Building no. 2B, Huda Techno Enclave,

Hitech City, Raheja IT Park, Mindspace,

Hyderabad, Telangana- 500081

In addition, Policybazaar has a claim assistance helpline where a person may contact the Policybazaar. The helpline number is 1800-258-5881. You may also log in to the 'My Account' given on the website. The Policybazaar has also its app on playstore which receives the doubts or queries of people. Hence, you may download the app and ask your query.

 Why Should You Buy Term Insurance in Telangana?

Telangana is one of the fastest-growing state in India. It offers great employment opportunities to people. At the same, it also has some hidden risks to deal with. The death rate has increased. At the same time, the accident level has also risen in the past few years. Rising healthcare cost is another reason to worry as they may affect the financial stability of a family. Such a situation makes the term insurance plan an important safety net in Telangana. In addition, the terms insurance plan comes under the budget of middle-class family. 

Here are some reasons why you should buy a term life insurance plan in order to avoid the health risks due to accidents and extreme weather conditions.

• Tax benefits: The premium paid by the policy buyer is eligible for tax deduction from the taxable income. In addition, no tax can be applied on the amount that the nominee receives upon the demise of the policyholder. 

• Affordable premiums: A term insurance plan offers high life cover at an affordable premium rate. The plan becomes more affordable for the people who do not smoke and stay healthy. Therefore, the affordable price is one of the reasons to buy the term insurance plan.

• Financial protection: Financial protection is the primary reason to buy the term life insurance plan. The death of the breadwinner of a family may change everything and make the life miserable of the remaining family members. This may lead to many such situations where the family members cannot fulfil their basic needs. In short, it may challenge household expenses. However, you can avoid such situations in the presence of a term life insurance plan. 

• Future planning and education: It is important for a father and mother to provide top-class education to their child. However, only a few are able to send their children to private schools or reputed universities. One may avoid this issue by buying a term life insurance plan. This plan offers a secure future to the beneficiaries by meeting the financial goals. 

• Healthcare cost and medical emergency: Medical emergency may incur considerable expense, especially when you require hospitalization, surgeries or other treatments. The terms insurance plan may cover these costs and ensure that you and your family members are free of medical bills.

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