Policybazaar sets a new benchmark of ₹2,069 crore in enabling term insurance claims for families in need

Gurugram, 12th Feb 2026: Setting a new milestone at the most critical point of the insurance journey, Policybazaar has facilitated over ₹2,069 crore worth of term insurance claims since 2018. Despite being one of the most essential tools for financial protection, term insurance in India remains a massively underpenetrated segment due to lack of awareness and concerns around claims. Seen in this context, this benchmark sends across a positive reinforcement of consumer confidence in term insurance.

Settled across a total of 2660 claims, this milestone figure also represents the seamless delivery of new-age digital-first models in insurance that promote better speed and transparency for the customers. Along with insurer partners, Policybazaar aims to transform what is often the most stressful and uncertain part for nominees into a guided and empathetic process.

Breaking down the geography of claims

The brand’s claims data points to a footprint that extends well beyond India’s metro cities and goes deeper into smaller regions. Policybazaar’s pan-India reach now spans 635 cities and 32 states/UTs, where Policybazaar’s free doorstep document pickup has helped families navigate difficult times.

Here are some broad highlights -

• Maharashtra tops the list: With a total of ₹332 crore in claims amount, Maharashtra has seen the highest number of claims at 405. Here, Mumbai alone has a share of over ₹115 crore with 132 claims, followed by cities like Pune, Nashik and Nagpur down to smaller ones like Ratnagiri and Ulhasnagar.
• Top 5 states: After Maharashtra, Uttar Pradesh and Delhi emerge as the next largest contributors by claim volume. Haryana and Karnataka follow closely. Interestingly, Uttar Pradesh recorded 364 settled claims amounting to ₹266 crore, while Delhi settled a lower number of claims at 314 but with a higher total payout of ₹272 crore. A similar pattern is seen further down the list where Haryana trumps Karnataka in the number of claims settled, even as Karnataka accounts for a higher overall claim value.
• Timeline of filing the claim: A significant proportion of these claims occurred within the first three years of the policy period. This highlights how a timely decision to purchase term insurance provided these families with the immediate financial security needed to absorb the shock of a breadwinner’s untimely demise. The foresight and proactiveness of the policyholders saved their families from financial freefall.
• Average age of policyholders: The data across major regions reveals the average age of a deceased policyholder at the time of claim is 42 years. This marks the absolute peak of an individual’s financial responsibility. This period is also often referred to as the ‘sandwich generation’ years, where an individual is simultaneously supporting young children, paying off long-term home loans and caring for aging parents. In high-pressure tech and industrial corridors like Bengaluru or Pune, this average age frequently dips even lower to 40 years. This makes term insurance a vital addition for families who have lost their primary breadwinner decades before they expected to.
• Most common causes of death: The city-level data provides an insight into the health crisis affecting India's working population. Heart-related ailments emerge as the undisputed leading cause of death, often accounting for 35% to 40% of total claims. This is closely followed by death due to Covid-19. Accidental deaths (majorly road-related) form the third largest chunk, more so in North Indian and industrial states, while complications from blood disease make up the remainder of the death causes. With the rising tide of critical diseases, especially in urban India, term insurance is a must-have to battle the financial impact arising out of them.

With thousands of claims successfully facilitated, Policybazaar’s structured intervention during this stage has helped ensure that legitimate claims are not delayed or denied due to procedural gaps or technical interpretations.

Sarbvir Singh, Joint Group CEO, PB Fintech , said, “Term insurance is the most underrated but most vital financial protection for the Indian middle class. Selling a policy is only half the responsibility. The real promise is honoured when a family gets support when they need it the most. This milestone reflects years of investing in processes, people and systems that ensure nominees are not left alone to navigate insurers, paperwork or uncertainty during moments of loss. Our focus has always been to make claims predictable, transparent and humane at scale.”

The 3 core pillars of PB claims:

• Zero-cost advocacy: Every nominee is assigned a dedicated Relationship Manager, who is a single point of accountability who coordinates with insurers throughout the claim lifecycle.
• Documentation support: From validating death certificates to coordinating medical records and insurer requirements, Policybazaar absorbs the procedural complexity that often overwhelms families.
• 24×7 claims assistance: Recognising that loss does not follow fixed hours, the claims desk operates round-the-clock to ensure timely initiation and continuous support.

Struggling with a term insurance claim? For more information or to file a claim, visit - https://termclaim.policybazaar.com