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Daman and Diu, a union territory in western India, consists of two areas separated by the Arabian Sea. The Daman Ganga River flows through the coastal town of Daman, while Diu includes a small island and a mainland village. However, despite its natural beauty, the residents of Daman and Diu face annual challenges such as the threat of coastal erosion, flooding during the monsoon season, and limited infrastructure development, which impact their daily lives and the local economy.
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Therefore, it is crucial for the citizens of Daman and Diu to buy a term plan to secure their family's financial future. Let's learn more about term life insurance in Daman and Diu and explore the available term insurance plans online to protect your loved ones.
Term Plans
Here are some facts and statistics about Daman and Diu that you must know to buy term insurance plan:
In Daman and Diu, the sex ratio is 618 females for every 1,000 males, which is lower than the national average of 940 according to the latest census.
In 2019, the death rate of Daman and Diu was reported at 4.100 NA, marking a decrease from the previous figure of 4.500 NA in 2018.
The literacy rate in Daman and Diu has shown an upward trend and is now 87.10%.
The current estimated population of Daman and Diu is 3.9 Lakhs.
In Daman and Diu, the road accident fatalities per lakh of population is 51.5% against the national average rate of 32.6%.
The estimated incidence of cancer cases in Daman and Diu in 2018 was 52.
Daman and Diu, though a very beautiful place, face many challenges that occur annually. These issues impact daily life of its citizens and hinder economic growth. This makes it important for residents to take proactive measures for their financial security. Hence, people living in Daman and Diu must buy the term insurance plans to secure the their families amidst such conditions.
You can find the term life insurance plans in Daman and Diu easily online through Policybazaar. With the help of their comparison engine, you can compare plans from 20+ Indian insurers and buy the term plan. Here are some of the plans along with their benefits.
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| 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
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 Daman and Diu’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 Daman and Diu:
Coastal Erosion and Property Damage: Coastal erosion in Daman and Diu leads to frequent property damage and loss of land, necessitating costly repairs and relocations. Term insurance provides financial security by offering a payout after the policyholder’s unfortunate death, which the nominees can use to cover repair costs, ensuring they do not endure financial strain.
Frequent Flooding and Financial Losses: Heavy monsoons often cause flooding, damaging homes, infrastructure, and agricultural land. Term insurance acts as a financial buffer by providing a lump sum payment, in case the policyholder is affected by the flood, that helps families cope with the financial losses, thereby, helping in quicker recovery and stability.
Limited Infrastructure and Services: The region's underdeveloped infrastructure limits access to essential services such as healthcare and education, affecting the quality of life. Term insurance supports families by providing death benefit that can be used to access better healthcare or educational facilities outside the region, improving their overall well-being.
Economic Dependence on Tourism: Daman and Diu's economy heavily relies on tourism, making it vulnerable to seasonal fluctuations and global crises. Term insurance covers these economic risks by making sure that families receive financial assistance in the event of the policyholder's unfortunate death, helping them maintain their standard of living during economic stress.
Health Risks and Medical Challenges: Limited medical facilities and high health risks, caused by natural disasters, pose health challenges for residents. Term insurance offers financial relief by covering medical expenses or facilitating travel for better healthcare, ensuring families can manage health-related emergencies effectively.
†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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