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Bihar is one of the most densely populated states of India and is primarily rural, with a majority of its population living in clustered or compact villages. Despite improvements in mining and manufacturing during the late 20th century, Bihar still falls behind other Indian states in terms of per capita income.
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According to government standards, a significant portion of the population remains below the poverty line. Moreover, very few industries in Bihar promote development within the state. 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 Bihar, from life’s uncertainties. Let’s understand in detail about term insurance in Bihar and you can compare and buy to protect your loved ones.
Here are some facts and statistics about Bihar that you must know to buy term plan:
In Bihar, the sex ratio is 918, meaning there are 918 females for every 1000 males. This figure is below the national average of 940, according to the latest census.
The life expectancy at birth in Bihar has risen from 65.8 years in 2006-10 to 69.1 years in 2014-18.
According to recent data, Bihar's literacy rate is 61.80%, indicating an upward rise. Among the population, 71.20% of men and 51.50% of women are literate.
According to the 2011 census, Bihar’s estimated population was 13.10 Crores.
In 2022, approximately 8.9 thousand people died in road accidents in the Indian state of Bihar.
Bihar's death rate declined steadily from 8.2 deaths per 1000 people in 2001 to 5.4 deaths per 1000 people in 2020.
Term Plans
Bihar faces significant challenges compared to other states in India. About 75% of its residents depend on agriculture for their main income, making it a major producer of fruits and vegetables. Although there were improvements in mining and manufacturing in the late 20th century, Bihar's per capita income remains lower than other states. Many people still live below the poverty line according to government standards. Hence, it is important that you financially secure your loved ones living in this Indian state and buy one of the term insurance plans.
You can find the term insurance plans in Bihar online, with the help of Policybazaar's website. Here, you can compare term plans from 20+ insurers of India. Simply use their online comparison tool to find the plan to protect your family in Bihar.
| 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 |
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| Aviva Life Insurance Company India Limited | Aviva Signature 3D Term Plan | 98 | 18 to 65 years | Rs. 5 Lakhs to no limit |
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| Bajaj Allianz Life Insurance Company Limited | Bajaj Allianz eTouch | 603 | 18 to 55 years | Rs. 50 Lakhs to Rs. 10 Crores |
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| Bandhan Life Insurance Company Limited | Bandhan Life iTerm Prime | 86 | 18 to 65 years | Rs. 25 Lakhs to Rs. 20 Crores |
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| Bharti Axa Life Insurance Company Limited | Flexi Term Pro | 148 | 18 to 65 years | Rs. 25 Lakhs to no limit |
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| Canara HSBC Life Insurance Company Limited | Canara Young Term Plan | 186 | 18 to 45 years | Rs. 25 Lakhs to Rs. 20 Crores |
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| Edelweiss Life Insurance Company Limited | Edelweiss Life Zindagi Plus | 59 | 18 to 65 years | Rs. 25 Lakhs - no limit |
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| Future Generali India Life Insurance Company Limited | Future Generali India Term Insurance Plan | 33 | 18 to 60 years | Rs. 50 Lakhs to no limit |
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| HDFC Life Insurance Company Limited | HDFC Click 2 Protect Super | 1,389 | 18 to 65 years | Rs. 50 Lakhs to Rs. 20 Crores |
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| ICICI Prudential Life InsuranceCompany Limited | ICICI iProtect Smart | 1,950 | 18 to 65 years | Rs. 50 Lakhs to Rs. 20 Crores |
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| IndiaFirst Life Insurance Company Limited | IndiaFirst Life Elite Term Plan | 160 | 18 to 60 years | Rs. 1 Lakh to Rs. 5 Crore |
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| Kotak Mahindra Life Insurance Company Limited | Kotak Life e Term | 321 | 18 to 65 years | Rs. 50 Lakhs to Rs. 10 Crores |
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| Life Insurance Corporation of India | LIC New Tech Term Plan | 18,398 | 18 to 65 years | Rs. 50 Lakhs to no limit |
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| Max Life Insurance Company Limited | Max Life Smart Secure Plus | 1,242 | 18 to 60 years | Rs. 25 Lakhs to Rs. 1 Crore |
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| PNB MetLife India Insurance Company Limited | PNB MetLife Mera Term Plan Plus | 407 | 18 to 50 years | Rs. 50 Lakhs to Rs. 10 Crores |
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| Pramerica Life Insurance Company Limited | Pramerica Life Rock Solid Plan | 30 | 18 to 65 years | Rs. 50 Lakhs to no limit |
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| SBI Life Insurance Company Limited | SBI eShield Next Plan | 1,676 | 18 to 65 years | Rs. 50 Lakhs to Rs. 10 Crores |
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| Shriram Life Insurance Company Limited | Shriram Life Smart Protection Plan | 109 | 18 to 65 years | Rs. 30,000 to Rs. 14 Lakhs |
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| Star Union DAI-ICHI Life Insurance Company Limited | SUD Life Protect Shield Plus | 113 | 18 to 60 years | Rs. 1 Crore to 2 Crore |
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| Tata AIA Life Insurance Company Limited | Tata AIA SRS Vitality Protect | 776 | 18 to 60 years | Rs. 50 Lakhs to Rs. 2 Crores |
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*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
We help to choose insurance based on your need
You can also contact Policybazaar on their Claim Assistance Helpline Number: 1800-258-5881.
Or you can log in to the 'My Account' section on Policybazaar’s official website.
Further, you can directly use Policybazaar’s official app to get any sort of help regarding your term plan or to solve your doubts/queries.
*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.
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With Bihar’s socio-economic instability and recurring natural calamities, such as heavy rainfall and floods, there is a serious need for life insurance for your family in Bihar, so that they are free from financial burden. Moreover, since a term plan is a safety net for your loved ones, you should buy term plan and be relaxed knowing your family is protected from all uncertainties of life in case of your untimely death. Here are some other reasons why you should buy term plan in Bihar:
Financial Security During Natural Disasters: Bihar experiences annual flooding, which can cause extensive damage to property and livelihoods. Term insurance ensures that your family is financially secure and can rebuild their lives in the event of such disasters.
Safety Net Amidst Poverty: A significant portion of Bihar's population lives below the poverty line, facing economic uncertainties. Term insurance offers financial protection to your family, ensuring they can meet their needs and maintain their standard of living even during tough times.
Coverage for Health Expenses: Access to healthcare facilities is limited in Bihar, and medical expenses can be a burden on families. Term insurance provides a lump sum payout to cover medical expenses in case of critical illnesses or accidents, ensuring your family's well-being.
Education and Employment Opportunities: Education and employment opportunities are limited in Bihar, leading to economic uncertainties. Term insurance ensures that your family can afford education and pursue opportunities, even in the face of financial constraints.
Ensuring Financial Stability and Peace of Mind: People in Bihar have diverse socio-economic backgrounds, so term insurance ensures that the plans they choose won't strain their finances. These plans offer extensive coverage at affordable premiums, providing financial stability and peace of mind to both the policyholder and their loved ones.
*Note: You can use the term insurance calculator to easily estimate your term insurance premiums
†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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