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Sikkim, nestled in the northeastern part of India, is renowned for its picturesque landscapes, peaceful surroundings, and vibrant culture. Jorethang, a bustling town in South Sikkim, stands as a commercial hub with a mix of local traditions and modern developments. As people in this region become more financially aware, there has been a growing interest in securing their future through financial instruments such as term life insurance.
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Term life insurance is a type of life insurance policy that provides coverage for a specified period or "term," usually ranging from 10 to 30 years. If the policyholder passes away during this term, the insurance company pays a death benefit to the beneficiary. However, if the policyholder survives the term, there is no payout unless the policy is renewed or extended.
Term Plans
Known for its pleasant weather and hilly terrains, Sikkim Jorethang faces many challenges, such as unstable crop yields, which directly impact the livelihoods of its agriculture-based communities. Moreover, monsoon rains from June to September often cause landslides and road blockages, disrupting daily life and agriculture. In winter, heavy snowfall isolates remote communities, leading to shortage of basic supply. Environmental degradation from increased tourism and infrastructure development further strains the region. Hence, it is important that you financially protect your loved ones and buy the Term insurance plan.
You can find the term insurance plans in Sikkim Jorethang online, with the help of Policybazaar's website. Here, you can compare term plans from insurers of India. Simply use their online comparison tool to find the plan to protect your family in Sikkim Jorethang.
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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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| 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
We help to choose insurance based on your need
You have a number of options for contacting Policybazaar.
You can reach out to their Claim Assistance Helpline Number at 1800-258-5881 for any assistance with your claims.
*Note: You can directly contact Policybazaar insurance advisor and get all your doubts resolved. However, you must first learn about various term plans and know what is term insurance to buy the right term plan.
As Jorethang continues to grow as an important town in South Sikkim, many of its residents are now exploring financial planning options to secure their future. Since a term plan is a safety net for your loved ones, you should buy term plan or life insurance plan and be relaxed knowing that your family is protected from all uncertainties of life in case of your untimely death. Here are a few reasons why term life insurance has become especially relevant in the region.
Monsoon-Induced Landslides: Sikkim Jorethang's terrain is highly susceptible to landslides during the monsoon season, which lasts from June to September. These landslides often result in road blockages and destruction of property, posing significant risks to life. In such a scenario, if the breadwinner of a family were to tragically lose their life, term insurance can provide crucial financial support to the family, ensuring they are not left struggling economically.
Harsh Winter Conditions: During the winter months, particularly in high-altitude areas, heavy snowfall can isolate communities, making access to essential services and supplies difficult. This isolation can sometimes lead to fatal outcomes. Term insurance can be a safeguard, offering a financial safety net to the family of the deceased, helping them to cope with the sudden loss of income.
Agricultural Vulnerability: Sikkim Jorethang’s economy is heavily dependent on agriculture, which is vulnerable to climatic variations such as excessive rainfall and unexpected droughts. Crop failures can severely impact farmers' livelihoods. If a farmer, as the primary breadwinner, were to die due to the stress and hardships caused by such challenges, term insurance would provide a financial cushion to the family, helping them manage their expenses and future needs.
Environmental Degradation: The increasing tourism and development activities in Sikkim Jorethang are leading to environmental degradation, which poses health and safety risks to the local population. Exposure to hazardous conditions can result in fatal accidents. In such cases, term insurance ensures that the family of the deceased has financial protection, helping them to sustain their living standards and cover immediate costs.
Limited Healthcare Access: The remote and rugged terrain of Sikkim Jorethang often makes access to quality healthcare difficult, especially in emergencies. This can lead to fatalities from otherwise treatable conditions. If the main income earner succumbs to such a health crisis, term insurance can provide the necessary financial support to the surviving family members, helping them to pay for medical bills, daily expenses, and future financial needs.
*Note: You can use the term insurance calculator to easily estimate your term insurance premiums
In 2024, as Jorethang and other parts of Sikkim continue to develop economically, term life insurance has become a crucial tool for financial security. The combination of growing financial awareness, strong cultural values, and unique geographical factors makes insurance a wise choice for the people of Jorethang. By securing a term life insurance policy, residents can ensure peace of mind and provide long-term protection for their families in a world full of uncertainties.
†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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