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Karnataka is a south-Indian state with the third largest economy in the country. It is famous for its diverse culture and flourishing IT sector that welcomes people from all parts of the country. While people arrive in Karnataka for job opportunities and excellent education facilities, the fast-paced nature of the state also welcomes several challenges.
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From population explosion to groundwater depletion, Karnataka’s current scenario forces people to take necessary measures and provide a safety net for their loved ones, considering the unforeseeable future. Therefore, it is advised that you buy term insurance and protect your loved ones against all the challenges faced in this Indian state. Let’s discuss the importance of term life insurance in Karnataka here.
Here are some facts and statistics about Karnataka that you must know before you proceed to buy term plan:
Life expectancy in the state of Karnataka is the lowest in South Indian states, standing at 69.5 years.
As per recent data, approximately 11000 people have lost their lives in road accidents in Karnataka in 2022.
Karnataka is one of the top 5 Indian states with the highest number of suicide cases.
Karnataka is famous for its unpredictable weather all throughout the year, which poses severe health risks.
As Karnataka’s Bangalore is the IT hub of India, it is now one of the most populated cities in India, with a population of over 1.6 Crores.
According to recent data from Karnataka's Civil Registration System (CRS), the child sex ratio at birth in Karnataka has dropped from 947 in 2021 to 929 in 2022.
As per recent data, in 2020, Karnataka, India, had an infant mortality rate of approximately 19 deaths per 1,000 live births.
Karnataka is a diverse Indian state with impressive economic growth. However, with the influx of population in major cities of the state, inflation and pollution have been primary challenges that people regularly suffer from. Bangalore city authorities have recently reported that out of 13900 borewells drilled in the city, 6900 have run dry, even though some were drilled as deep as 1500 feet. Therefore, people living in Karnataka must be extra sure of their families’ well-being, considering these hazards. Term insurance is the way to ensure that in the unfortunate event of your demise, your family living in Karnataka will not suffer financial burden.
Term insurance plans in Karnataka can be found online on Policybazaar, where you can compare different term plans offered by the insurers in India. Policybazaar has its own comparison engine where you can easily compare term plans from 20+ insurers. Here is a list of all the term life insurance plans in Karnataka:
Term Plans
| 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 |
|
| Aviva Life Insurance Company India Limited | Aviva Signature 3D Term Plan | 98 | 18 to 65 years | Rs. 5 Lakhs to no limit |
|
| Bajaj Allianz Life Insurance Company Limited | Bajaj Allianz eTouch | 603 | 18 to 55 years | Rs. 50 Lakhs to Rs. 10 Crores |
|
| Bandhan Life Insurance Company Limited | Bandhan Life iTerm Prime | 86 | 18 to 65 years | Rs. 25 Lakhs to Rs. 20 Crores |
|
| Bharti Axa Life Insurance Company Limited | Flexi Term Pro | 148 | 18 to 65 years | Rs. 25 Lakhs to no limit |
|
| Canara HSBC Life Insurance Company Limited | Canara Young Term Plan | 186 | 18 to 45 years | Rs. 25 Lakhs to Rs. 20 Crores |
|
| Edelweiss Life Insurance Company Limited | Edelweiss Life Zindagi Plus | 59 | 18 to 65 years | Rs. 25 Lakhs - no limit |
|
| Future Generali India Life Insurance Company Limited | Future Generali India Term Insurance Plan | 33 | 18 to 60 years | Rs. 50 Lakhs to no limit |
|
| HDFC Life Insurance Company Limited | HDFC Click 2 Protect Super | 1,389 | 18 to 65 years | Rs. 50 Lakhs to Rs. 20 Crores |
|
| ICICI Prudential Life InsuranceCompany Limited | ICICI iProtect Smart | 1,950 | 18 to 65 years | Rs. 50 Lakhs to Rs. 20 Crores |
|
| 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 |
|
| 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 |
|
| 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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You can easily visit the below-mentioned address to contact Policybazaar in Karnataka to buy term plan:
PolicyBazaar Insurance Brokers Private Limited,
Diamond District, Gate-2, Tower B,
3rd Floor, Old Airport Road,
Kodihalli, Bangalore, Karnataka, 560008
Further, you can contact Policybazaar at their Claim Assistance Helpline Number: 1800-258-5881.
You can also log in to the 'My Account' section on their website or use the official page of Policybazaar to receive assistance regarding any doubts or queries.
We help to choose insurance based on your need
Karnataka offers great opportunities to people from all parts of the country to establish a future. But at the same time, the state also harbours several challenges that people must be careful of. For example, the number of accident cases in Karnataka has increased, floods have wrecked the streets and infrastructure, and traffic has made communication difficult. Moreover, rising healthcare costs and medical emergencies are additions to a person’s stress. These unpredictable situations make term and life insurance a necessary safety net in Karnataka. Here are some more reasons why you should buy term insurance in Karnataka:
Financial Security Amid Rising Expenses: As living costs rise in Karnataka, term insurance offers comprehensive financial protection for your family, so these rising costs will not burden them even when you’re not there anymore. The sum assured can cover essential expenses like education, housing, and daily needs, ensuring your family's well-being during economic challenges.
Career Uncertainty in a Dynamic Job Market: With Karnataka's diverse industries, job uncertainty is common. Under such situations, it is even more crucial to ensure that your family is well-secured. Term insurance acts as a safety net, providing financial security for your loved ones in case of your sudden demise, ensuring they maintain their lifestyle and financial stability after your death.
Securing Children’s Education and Future: Karnataka is a hub for fine education, attracting families with aspirations for their children's academic growth. Term insurance secures your children's future education financially, ensuring they have adequate aid even if you're not there.
Handling Healthcare Expenses: Despite Karnataka's focus on healthcare, medical emergencies and costs can strain your finances. Term insurance covers potential medical expenses, ensuring your family can handle health crises without any financial burden.
†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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