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Jammu and Kashmir, often referred to as ‘Paradise on Earth’, is administered by India as a union territory, and is part of the disputed Kashmir region, claimed by both India and Pakistan since 1947, and also by China since 1959. While Jammu and Kashmir is famous for its diverse biogeography, which includes the hills, valleys and meadows, there are many challenges that the region undergoes. Some of these risks include heavy snowfall, landslides, underdevelopment and unemployment.
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These situations force people to take necessary measures and provide a safety net for their families and loved ones. Therefore, it is suggested that you buy term insurance to protect your family living in Jammu and Kashmir. Let’s discuss the importance of term insurance in Jammu and Kashmir in this article.
Here are some facts and statistics about Jammu and Kashmir that you must know before you proceed to buy term plan:
According to recent data, life expectancy at birth in Jammu and Kashmir is 74 years, the third highest in India after Kerala and Delhi, surpassing the national average of 69.4 years.
Recent data shows that road accidents in Jammu & Kashmir have resulted in 4,278 deaths between 2018 and 2022.
As per the last census (held in 2011), the current estimated population of Jammu and Kashmir is approximately 1.56 Crores.
As per recent statistics, the literacy rate of Jammu and Kashmir in 2024 has risen to 67.16%. Among them, male literacy is 76.75%, and female literacy is 56.43%.
Recent data shows that the death rate in Jammu & Kashmir decreased steadily from 6.1 deaths per 1000 people in 2001 to 4.6 deaths per 1000 people in 2020.
According to the NCRB report, Jammu and Kashmir had about 30% of India's suicides in 2022.
Term Plans
Jammu and Kashmir faces a number of challenges, such as landslides, severe snowfall, etc. Moreover, despite multiple efforts, certain areas in Jammu and Kashmir still lack basic infrastructure such as roads, electricity, and healthcare facilities. Such situations can hinder access to essential services and economic opportunities. Therefore, people in Jammu and Kashmir should prioritize their family's future and well-being by buying a term insurance plan. It's one of the best ways to ensure that if something happens to you unexpectedly, your family won't face financial struggles.
Term insurance plans in Jammu and Kashmir can be found online on Policybazaar, where you can use the comparison tool and easily compare various term plans based on your criteria and circumstances. Policybazaar lets you compare term plans from 20+ insurers. Here is a list of all the term plans in Jammu and Kashmir:
| 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
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Alternatively, you can log in to your account by going to the ‘My Account’ section on their website or use the Policybazaar app for help with any questions or concerns.
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Jammu and Kashmir is a state blessed with lush greenery and vibrant wildlife. But at the same time, the state also poses a number of risks. For example, the number of accident cases in Jammu and Kashmir has increased, floods damaging crops and roads, and the growing cost of healthcare and other commodities have made it rather difficult for people to sustain themselves in the state. These unpredictable situations make term and life insurance a safety net in Jammu and Kashmir. Here are some more reasons why you should buy term insurance in Jammu and Kashmir:
Protection Against Natural Calamities: Given the region's vulnerability to natural disasters like snowfall and storms, term insurance provides financial protection to the policyholder’s family in case of his/her untimely demise due to such calamities. It ensures that loved ones are financially secure to rebuild their lives after the policyholder is no more.
Coverage for Underdeveloped Areas: In underdeveloped regions of Jammu and Kashmir, where access to basic services and infrastructure may be limited, term insurance can serve as a crucial safety net. It offers families financial stability during challenging times, helping them cover expenses in the unfortunate event of the policyholder’s death.
Resolving Economic Uncertainty: High unemployment rates in Jammu and Kashmir contribute to economic uncertainty for many families. Term insurance offers a way to help them during this uncertainty by providing a lump sum payment to nominees/beneficiaries in the event of the policyholder's death. This financial support can help sustain the family's financial well-being during difficult times.
Peace of Mind Amidst Uncertainty: Term insurance provides peace of mind to policyholders knowing that their loved ones will be taken care of financially in their absence. In a region marked by various challenges, having term insurance can offer a sense of security and stability, allowing families to focus on building a brighter future without worrying about financial hardships.
†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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