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Chandigarh, a union territory of India, is known for being one of the most developed cities with clean streets, and institutions offering quality education. The city boasts of modern infrastructure, well-planned societies, and plenty of open spaces, making it a pleasant place to live and visit.
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However, Chandigarh faces recurring challenges such as traffic congestion and the rising cost of living. Additionally, managing rapid urbanization while preserving its green spaces remains a significant concern. Hence, it becomes very important for the citizens of Chandigarh to buy term plan to ensure the financial security of their loved ones. Let’s understand more about term life insurance in Chandigarh.
Term Plans
Here are some facts and statistics about Chandigarh that you must know to buy term insurance plan:
The sex ratio in Chandigarh is 818, meaning there are 818 females for every 1,000 males. This is below the national average of 940 females for every 1,000 males, according to the latest census.
In Chandigarh, the life expectancy at birth for stands at an average of 66.5 years for the years 2019-2021.
The literacy rate in Chandigarh has increased to 86.05%, according to the latest census. Male literacy is 89.99%, while female literacy is 81.19%.
The metro area population of Chandigarh in 2022 was 1,191,000, which is a 1.88% increase from 2021. In 2021, the population was 1,169,000, a 1.83% increase from 2020.
In 2022, Chandigarh had 79 fatal road accidents resulting in 83 deaths, showing a decrease from 2021 when there were 94 fatal accidents and 96 deaths.
Cancer registries in Punjab and Chandigarh report age-adjusted cancer rates in Chandigarh as 96.6 per 100,000 men and 100.9 per 100,000 women.
Chandigarh faces several problems, including increasing traffic, which has worsened due to the growing number of vehicles and inadequate public transportation system. Rapid urbanization is putting pressure on infrastructure, leading to challenges in waste management and water supply. Moreover, air pollution is another growing concern that the city is experiencing, including a rise in housing, education and healthcare costs. Hence, people living in Chandigarh must buy the term insurance plans to secure the their families amidst such conditions.
You can find the term life insurance plans in Chandigarh easily online through Policybazaar. With the help of their comparison engine, you can compare plans from 20+ Indian insurers company and buy the term plan. Here are some of the plans along with their benefits.
| 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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| Axis 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
You can contact Policybazaar through the Claim Assistance Helpline Number at 1800-258-5881.
Moreover, you can log in to the 'My Account' section on the Policybazaar website or directly use Policybazaar’s app to receive assistance if you have any queries.
*Note: You can easily contact Policybazaar insurance advisor to clear all doubts, and know about various term insurance plans available.
We help to choose insurance based on your need
With Chandigarh’s extreme weather conditions, and pollution, there is an even more need for life insurance. Here are some more reasons why you should buy term insurance in Chandigarh:
Traffic Congestion: With increasing vehicles and inadequate public transportation, traffic congestion is a major issue. If the primary breadwinner unfortunately dies in a road accident, term insurance will help in paying the life cover, in the form of a death benefit, to financially protect the family.
Rapid Urbanization: The pressure on infrastructure from rapid urbanization can lead to accidents and health risks. If the bread earner unfortunately dies due to these urban challenges, term plan will financially protect the family.
Air Pollution: Industrial emissions and vehicle exhaust contribute to deteriorating air quality, leading to serious respiratory problems. If the policyholder unfortunately dies from pollution-related health issues, the death benefit will financially protect the family of the deceased policyholder.
Waste Management and Water Supply Issues: Inadequate waste management and water supply problems pose health risks to residents. If the earning member of the family unfortunately dies due to health complications from these issues, the death benefit will financially protect the family in the near future.
†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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