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Nestled in the heart of India, Madhya Pradesh is a state known for its rich history, diverse culture, and stunning natural beauty. With its expansive forests, ancient temples, and serene rivers, Madhya Pradesh captivates visitors with its charm and tranquility.
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However, amidst the beauty lies the need for financial protection against life's uncertainties. From bustling cities like Bhopal and Indore to rural villages that dot the landscape, Madhya Pradesh residents face various challenges. With a population of over 7 Crores, access to affordable financial security is crucial for the people of Madhya Pradesh. In this guide, we'll explore how term insurance can provide a vital safety net for families across the state, ensuring peace of mind and financial stability in the face of life's unpredictable twists and turns.
Here is a list of Madhya Pradesh statistics that help understand the importance of term insurance in the state:
Madhya Pradesh has a total population of over 7 Crores
The death rate in the state in the year of 2020 was 6.5
Madhya Pradesh has the highest Infant Mortality Rate of 48
The life expectancy of the residents in the state is 66.5 years
The state recorded over of 10 Lakh Covid Cases, out of which 10,786 resulted in deaths
The aforementioned statistics of the state, highlight the importance of buying term insurance in Madhya Pradesh. You can easily buy a 1 Crore term insurance online starting at just Rs. 473 monthly.
Term Plans
Madhya Pradesh, renowned for its rich cultural heritage and historical significance, beckons people from various walks of life. The state's vibrant cities and tranquil countryside offer a unique blend of opportunities and challenges. With a growing population and increasing urbanization, Madhya Pradesh faces issues like inadequate healthcare access, particularly in rural areas, and rising living costs. For residents navigating these dynamics, securing the right term insurance plan is crucial to safeguard their family's financial future.
In Madhya Pradesh, finding the term life insurance plans is made simple with online platforms like Policybazaar. Their user-friendly comparison engine allows you to evaluate plans from over 15 life insurers, empowering you to make well-informed decisions. Below is a curated list of some of the term life insurance plans tailored to meet the needs of Madhya Pradesh residents:
| 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 use a term insurance premium calculator to calculate the premiums you need to pay for the required life cover.
You can contact Policybazaar in Madhya Pradesh to get your policy related queries resolved at the Claim Assistance Helpline number 1800-258-5881, log in to the 'My Account' section on their official website, or simply use the Policybazaar app.
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As the heart of India, Madhya Pradesh boasts a rich tapestry of culture, history, and natural wonders. From the majestic forts of Gwalior to the tranquil shores of the Narmada River, the state mesmerizes with its diverse landscapes and heritage. However, amidst its beauty lies a stark reality: the challenges faced by its residents. With a growing population and varying economic conditions, ensuring financial security is essential. Madhya Pradesh is prone to natural disasters like floods and droughts, while health concerns such as vector-borne diseases remain prevalent. In such a dynamic environment, term insurance emerges as a crucial tool for Madhya Pradesh residents to safeguard their families' futures.
We help to choose insurance based on your need
Financial Protection: Term insurance in Madhya Pradesh protects your family’s financial stability in your absence by providing them with the sum assured as a death benefit. They can use the benefit amount to take care of their financial needs like rent, child’s fees, and other monthly expenses.
Pay off Loans/Debts: Your family can use the benefit amount to pay off any remaining loans and debts like home, car, and student loans that may fall on their shoulders in your absence.
Secure Child’s Future: You can secure your child’s financial future with term insurance in Madhya Pradesh and ensure they are able to pay for their higher education, future wedding, and fund their career needs.
Tax Benefits: The government of India offers term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws.
Peace of Mind: With term insurance in Madhya Pradesh, you can live your life stress-free knowing that your family is financially protected in case of your unfortunate demise during the policy term.
†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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