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Term Life Insurance in Telangana Bodhan 2024

Telangana Bodhan 2024 is the newest and youngest state that became the 29th state of India in 2014. Family safety, future planning, personal expenses, increased competition (3 lakh applications for 503 posts), business intelligence and outdated technology infrastructure are some of the reasons why an individual should ensure a safety net for the family.

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The state witnesses a rise in the cost of living by 8.5% to 10% annually. Under such circumstances, it becomes crucial for the head of the family to recognize the significance of financial planning and invest in a term insurance plan. Term insurance plans act as a safety net and ensure the well-being of family members or policyholders by offering them financial assistance during the crisis. 

Let us discuss why buying a term life insurance plan has become crucial for the people of Telangana Bodhan 2024. 

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Need For Term Insurance Based on Statistics of Telangana

Here are some facts and statistics about Telangana that insurance buyers must know to buy a term insurance plan.

  • Development of the State: According to the economic estimates, Telangana’s GSDP (Gross State Domestic Product) was more than Rs. 12 lakh crores in the financial year 2022-23 compared to Rs. 7 lakh crores in the year 2014-25.

  • Life expectancy: The state has 62.4 life expectancy at birth.

  • Sex ratio at birth: Telangana's average sex ratio at birth is 988.

  • Literacy rate: The average literacy rate in Telangana is 66.54%.

  • Population of the state: Telangana has a population of 350.04 lakh people. 

  • Accidental death: Telangana recorded 21.62 thousand accidental deaths in 2022.

  • Cancer statistics: The cancer cases in Telangana were 47,620, 48,775 and 49,938 in 2020, 2021, and 2022 respectively. 

  • Covid stats: Telangana recorded a total of 6,52,785 Covid-19 cases.

To conclude, we can say that Telangana has one of the lowest life expectancy rates in India. The literacy rate has a slight nuance as compared to the country’s data. In addition, the state has recorded various accidental death cases which is not a good sign as it may affect the livelihood of many families or dependents. The state is also affected by the cancer statistics. Therefore, it is important for a person to buy the term life insurance to protect his dependent or family from the aforementioned risks.

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Best Term Life Insurance Quotes in Telangana Bodhan 2024

Telangana Bodhan 2024 is one of the developing states in India. People may witness the growth of this state in terms of economy, infrastructure, startups etc. Many urban cities of Telangana Bodhan 2024 offer shopping centres, luxurious lifestyles with cafes and entertainment etc. This has led to an increase in the population of the state which has further increased the prices and demand of essential commodities and housing. Therefore, it becomes important for the citizens living in Telangana Bodhan 2024 to buy a term life insurance plan in order to secure the financial future of their loved ones and avoid any uncertainties.

You can find the best term life insurance plan by visiting the website of Policybazaar. With Policybazaar's comparison engine, you can compare from amongst 15+ top insurers of India and buy the best term insurance plan.

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Term Plans

₹1
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Life Cover

@ Starting from ₹ 16/day+

₹50
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Life Cover

@ Starting from ₹ 8/day+

₹75
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Life Cover

@ Starting from ₹ 12/day+

Here is the list of best-term insurance plans in Telangana Bodhan 2024.

Term Insurance Plan Entry Age Sum Assured Additional Benefits
ICICI Prudential iProtect Smart 18 to 65 years Rs. 50 Lakhs to Rs. 20 Crores
  • Terminal illness benefits
  • Waiver of Premium
  • Life Stage benefit
HDFC Life Click 2 Protect Super 18 to 65 years Rs. 50 Lakhs to Rs. 20 Crores
  • Terminal illness benefit
  • Waiver of premium on critical illness and total and permanent disability
  • Return of premium option
Max Life Smart Secure Plus 18 to 60 years Rs. 25 Lakhs to Rs. 1 Crore
  • Terminal illness benefit
  • Accelerated critical illness benefit 
  • Special exit value
  • Joint life option
TATA AIA SRS Vitality Protect 18 to 60 years Rs. 50 Lakhs to Rs. 2 Crores
  • Early payout on terminal illness
  • Accidental death
  • Accidental total and permanent disability
Bajaj Allianz Life eTouch 18 to 55 years Rs. 50 Lakhs to 10 Crores
  • Terminal illness
  • Waiver of premium
  • Early exit benefit
PNB MetLife Mera Term Plan Plus 18 to 50 years Rs. 50 Lakhs to 10 Crores
  • Life stage benefit
  • Terminal illness
  • Accelerated critical illness
  • Waiver of premiums on ATPD or CI
Canara HSBC Young Term Plan Life Secure 18 to 45 years Rs. 25 Lakhs to Rs. 20 Crores
  • Block your premium
  • Special exit value
  • Child care benefit
Kotak Life e-Term 18 to 65 years Rs. 50 Lakhs to 10 Crores
  • Smart exit benefit
  • Wellness benefit
Aegon Life iTerm Prime 18 to 65 years Rs. 25 Lakhs to Rs. 20 Crores
  • Special exit value
  • AD rider
  • CI care rider
Edelweiss Life Zindagi Protect 18 to 65 years Rs. 50 Lakhs to No Limit
  • Flexible death benefit
  • Payment modes
  • Tax benefits
ABSLI Salaried Term Plan 21 to 55 years Rs. 50 Lakhs to 5 Crores
  • Exclusively designed for salaried people
  • Accelerated critical illness
  • Tax benefits
SBI Life eShield Next 18 to 65 years Rs. 50 Lakhs to 10 Crores
  • Terminal illness
  • Flexible death benefit payment mode
  • Better half benefit

* You can estimate the premiums you would need to pay for the desired term plan using the term insurance premium calculator.

How to Buy Term Life Insurance from Policybazaar?

How Can You Contact Policybazaar to Buy Term Insurance in Telangana Bodhan 2024?

A person may easily visit the address given below to contact the Policybazaar in Telangana Bodhan 2024 to buy the term insurance plan.

Policybazaar Insurance Brokers Private Limited

Ground Floor, Building no. 2B, Huda Techno Enclave,

Hitech City, Raheja IT Park, Mindspace,

Hyderabad, Telangana Bodhan 2024- 500081

In addition, Policybazaar has a claim assistance helpline where a person may contact the Policybazaar. The helpline number is 1800-258-5881. You may also log in to the 'My Account' given on the website. The Policybazaar has also its app on playstore which receives the doubts or queries of people. Hence, you may download the app and ask your query.

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 Why Should You Buy Term Insurance in Telangana Bodhan 2024?

Telangana Bodhan 2024 is one of the fastest-growing state in India. It offers great employment opportunities to people. At the same, it also has some hidden risks to deal with. The death rate has increased. At the same time, the accident level has also risen in the past few years. Rising healthcare cost is another reason to worry as they may affect the financial stability of a family. Such a situation makes the term insurance plan an important safety net in Telangana Bodhan 2024. In addition, the terms insurance plan comes under the budget of middle-class family. 

Here are some reasons why you should buy a term life insurance plan in order to avoid the health risks due to accidents and extreme weather conditions.

  • Tax benefits: The premium paid by the policy buyer is eligible for tax deduction from the taxable income. In addition, no tax can be applied on the amount that the nominee receives upon the demise of the policyholder. 

  • Affordable premiums: A term insurance plan offers high life cover at an affordable premium rate. The plan becomes more affordable for the people who do not smoke and stay healthy. Therefore, the affordable price is one of the reasons to buy the term insurance plan.

  • Financial protection: Financial protection is the primary reason to buy the term life insurance plan. The death of the breadwinner of a family may change everything and make the life miserable of the remaining family members. This may lead to many such situations where the family members cannot fulfil their basic needs. In short, it may challenge household expenses. However, you can avoid such situations in the presence of a term life insurance plan. 

  • Future planning and education: It is important for a father and mother to provide top-class education to their child. However, only a few are able to send their children to private schools or reputed universities. One may avoid this issue by buying a term life insurance plan. This plan offers a secure future to the beneficiaries by meeting the financial goals. 

  • Healthcare cost and medical emergency: Medical emergency may incur considerable expense, especially when you require hospitalization, surgeries or other treatments. The terms insurance plan may cover these costs and ensure that you and your family members are free of medical bills.

FAQs

  • Q: What is term insurance?

    Term insurance is a type of life insurance plan that offers coverage to the policy buyer for a fixed period of time. It also offers a lump sum amount if the policy buyer dies before the term of the plan.
  • Q: How does a term insurance plan work?

    The policy buyer needs to pay the premium at a regular interval of time. The policy offers insurance benefits to the policy buyer.
  • Q: Is it possible to buy term life insurance in Telangana Bodhan 2024?

    Yes, you may buy a term life insurance plan in Telangana Bodhan 2024.
  • Q: What are the effects of a term insurance plan on tax?

    The amount that a policy buyer pays is eligible for tax deduction under the Income Tax Act of 1961. It means that a policy buyer may deduct the premium amount from the taxable income. In addition, the death benefit that a nominee receives is also eligible for tax benefits.
  • Q: What are the reasons to buy a term life insurance plan in Telangana Bodhan 2024?

    Here are the reasons to buy a term life insurance plan in Telangana Bodhan 2024:
    • Affordable policy: The term life insurance is an affordable policy. It can fit within your budget as you need to pay a monthly premium as per your affordability.
    • Tax-free benefit: The term life insurance policy offers tax-free death benefits to the nominee. It means that you don't need to pay any tax on the amount you receive from the insurance company.
    • Return: The policy buyer receives a considerable return on his investment.
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. 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 complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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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