Best Term Life Insurance in Meghalaya

Meghalaya, the state of India, is located on the north-eastern side of India. It is one of the smallest states in India. It has a population of 38.65 lakhs. Meghalaya is surrounded by lush forests, and pines, and bamboo plants. Read More

Meghalaya has so many species oak, birch, beech, and magnolia, etc. It also has a large variety of fruits, vegetables, spices, and medicinal plants. Meghalaya is rich in tribal culture and folklore.

Best Term Life Insurance in Meghalaya

PolicyBachat helps you for selecting best term life insurance quotes in Meghalaya and we at PolicyBachat work hard to bring impartial comparisons of different life insurance companies at the time of comparing Life Insurance Quotes in Meghalaya.

Term life insurance is a type of life insurance and where in the insured person covers himself for specific period of time if the covered person dies during the specific period of time and if the term life insurance policy is in active the death benefits passed onto the nominee mentioned in the policy.

Term life insurance appropriate for people who temporarily need specific amounts of life insurance and Term life insurance can be paid through online or offline based on the comfort of the applicant and policy can be issued without any physical presence of the customer. Best life insurance plan should have lesser amount of premium with higher amount of coverage.

The premium paid for term life insurance policy is calculated based on the term selected by the customer and it can be paid in instalments or in lump sum depending on the comfort of the applicant and the premium paid for term life insurance policy is based on age, gender, and health and life expectancy and if the person who insured at an early age pay lower amount of premium and vice versa.

Term life insurance gives financial protection to the family of policy holder. Term life insurance can be taken for a pre-defined term or for whole life i.e. till the death of the policyholder depending on the risk appetite of the applicant. Term insurance Company in Meghalaya settles the claim amount in case of death of the policyholder.

The claim amount will be paid to the nominee mentioned in the policy copy. 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 Meghalaya

In Meghalaya, there are many accidents and deaths happening on the highways and in the internal roads due to the movement of heavy vehicles, over speed etc. The mortality rate in Meghalaya has increased due to the pandemic and this has caused an upward increase the number of death in Meghalaya State.

Cheap term Life Insurance Plans in Meghalaya can be sorted from our Online Portal where the basic process is to fill 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 Meghalaya 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 Meghalaya are calculated for a 29 year old Male, with no Tobacco habit, annual income of 10 Lakhs and 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 purpose only* Please refer to website for exact premium.

Best Term Life Insurance Quotes in Meghalaya based on Coverage

Term life insurance policy should be purchased after checking the terms and conditions mentioned under the policy and Best life insurance offers the highest life coverage for minimum premiums. So before buying the term life insurance plan check all the terms and conditions thoroughly.

The premium paid by the customer for the term life insurance differs from company to company and also depends upon the service levels provided by the company.

Best Term Life Insurance Plans in Meghalaya can be sorted from our online portal where the basic process is to fill 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.

Best term insurance plans in Meghalaya include extra coverage in the form of add-ons such as Waiver of premium; Accidental disability etc.

The best term life insurance quotes in Meghalaya are calculated for a 29-year-old Male, with no Tobacco habit, annual income of 10 Lakhs and Salaried individual. Premium payment mode is Monthly and the Sum assured is 2 Crores, Payment term is up to retirement (65 years) based on the extra coverage in the form of add-on or riders.

Company Premium per month Coverage
ICICI Prudential Rs.2,472 Waiver of premium, Accidental death benefit & Critical Illness
PNB Met Life Rs.2,781 Waiver of premium
CANARA HSBC OBC Rs.3,055 Accidental death benefit
TATA AIA Rs.3,065 Accidental death benefit & Critical illness
AEGON Life Rs.3,994 Accidental death benefit
HDFC Life Rs.4,585 Waiver of premium, Accidental death benefit & Critical Illness

*Premiums given are for illustration purpose only* Please refer to website for exact premium.

Note: Before buying the policy please read 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.

FAQ’s- Life Insurance in Meghalaya

  • How to renew my life insurance policy?
  • You can renew your life insurance policy in Meghalaya online without worrying about the need to go to registered office to pay the premium. To renew your life insurance policy online please contact our agent who can assist you in 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 Meghalaya I can get without going for physical medicals?
  • 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.

    Now-a-days most of the 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 grace period in 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 Meghalaya?
  • Policybachat is an online insurance web aggregator which helps in selecting the best insurance policy in Meghalaya for its customers based on the customer’s requirements. We at Policybachat provide the customer with wide range of options to select from.

    The best life insurance policy in Meghalaya can be selected online from our portal. We even provide other insurances also such as health insurance and car insurance to our customers.

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