Chandigarh is one of the union territories of India and it is the capital of the two neighbouring states of Punjab and Haryana. It has an area of 114 square kilometers. Architecture and buildings like Capitol Complex, High Court, Secretariat, Legislative Assembly, and giant Open Hand Monument famous in Chandigarh.
To compare and buy the best term life insurance quotes in Chandigarh we are here at Policybachat. We are helping you for selecting the best term life insurance quotes and we strive to bring impartial comparisons of different life insurance companies at the time of comparing life insurance quotes in Chandigarh.
Best term life insurance in Chandigarh can be found online on Our Portal by comparing different life insurance plans offered by different insurance companies.
Term life insurance is a type of life insurance and in which the insured person covers himself/herself for a specific period of time if something happens to the insured person within the specific period of time and if the term life insurance policy is inactive and death benefits passed onto the nominee mentioned in the policy. COVID-19 pandemic brought about many uncertainties in the life of the common person so that anything is needed badly in this situation i.e., the term life insurance policy.
Term life insurance can be paid online or offline. But the premium to be paid is less in case of online when compared with the offline modes because insurance brokers take a commission in offline mode and less administrative charges in online mode and policy can be issued without any physical presence of the customer.
The premium paid is calculated based on the term selected by the customer and it can be paid in installments or in a lump sum.
The claim amount will be paid to the nominee mentioned in the policy copy in case of the sudden death of an insured. No maturity benefit will be paid to the policyholder if he/she survives till the end of the policy period in pure term insurance policies. Whole life term insurance policies do not have any fixed term and provide coverage till the death of the policy holder.
Cheap Term Life Insurance Quotes in Chandigarh
Chandigarh has a population of 11.6 lakhs. There are many accidents and deaths happening on the highways and on the internal roads due to the movement of heavy vehicles, refusal to follow traffic rules, over-speed, etc.
The death rate in Chandigarh has increased due to the covid-19 pandemic and this has caused an upward increase in the number of death in Chandigarh. So life insurance is being seriously considered by many Indians after the entry of coronavirus.
Cheap term
Life Insurance Plans in Chandigarh can be sorted from our online portal where the basic process is to fill in the details of the applicant for quote generation such as gender, occupation type, Annual income, date of birth, name of the applicant, Email address, etc. Cheap term insurance plans in Chandigarh don’t include any extra coverage in the form of add-ons such as Waiver of premium, Accidental disability, etc.
The cheap term life insurance quotes in Chandigarh are calculated for a 29-year-old Male, with no Tobacco habit, an annual income of 10 Lakhs, and a Salaried individual. Premium payment mode is Monthly and the Sum assured is 2 Crores, Payment term is up to retirement (65 years).
| Cheapest Companies |
Plan Name |
Premium per month |
Extra Benefits |
| ICICI Prudential |
iProtectSmart-Life |
Rs.2,607 |
Waiver of premium on Accidental disability & Early claim on terminal illness |
| TATA AIA |
Sampoorna Raksha Supreme |
Rs.2,563 |
NIL |
| PNB Met life |
Mera Term Plan Plus |
Rs.2,656 |
NIL |
| HDFC Life |
Life Protect |
Rs.2,862 |
NIL |
| Canara HSBC OBC |
I Select Star |
Rs.2,878 |
NIL |
| AEGON Life |
iTerm (Life Protect) |
Rs.3,830 |
NIL |
*Premiums given are for illustration purposes only* Please refer to the website for the exact premium.
FAQ’s- Life Insurance in Chandigarh
- How to renew my life insurance policy?
You can renew your life insurance policy in Chandigarh online without worrying about the need to go to the registered office to pay the premium. To renew your life insurance policy online please contact our agent who can assist you in the renewal process. Insurance companies send a payment link to the customer to renew the life insurance policy; once the payment is made renewal intimation will be sent to the customer.
- What is the maximum cover in Chandigarh?
The maximum cover that one can get without going for medicals varies from one insurance company to another. For instance company, X might offer Rs.10Lacs coverage without any medicals which some insurance companies offer only Rs.5 Lakhs without any medicals.
Nowadays most insurance companies are conducting tele medicals to ascertain the health condition of the applicants. So the maximum cover one can get without physical medicals would be 1-2 Crores depending on the income of the applicant and the previous health conditions.
- What is the grace period in a term life insurance policy?
Grace period is the time in which the policy would remain inactive till the time premium payment is done and claims would be made only after the clearance of pending premium payments. .
Generally, the grace period in life insurance policies is 15 to 30 days, during this period the customer can renew the life insurance policy. If the premium payment is not made within the grace period, the policy would lapse. Therefore it is essential to make the payment before the expiry of the policy or during the grace period. The grace period starts from the due date of renewal.
- What is Policybachat and how does it help with my life insurance policy purchase in Chandigarh?
Policybachat is an online insurance web aggregator which helps in selecting the best insurance policy in Chandigarh for its customers based on the customer’s requirements. We at Policybachat provide the customer with a wide range of options to select from.
The best life insurance policy in Chandigarh can be selected online from our portal. We even provide assistance to our customers in selecting the best life insurance, health insurance, car insurance policies based on the requirements of the customer.
*Premiums given are for illustration purposes only* Please refer to the website for the exact premium.
Note: Before buying the policy please read the terms and conditions of life insurance Company limited. And beware of spurious phone calls and fictitious offers. IRDAI is do not participated in part of Schemes such as selling insurance policies announcing bonuses or financing of premiums and the public getting that type of phone calls are requested to file a police report.