Life insurance in India has generally been considered as a savings tool and not a protection tool. However, of late the trend has been changing and the importance of life cover is being recognized. Here are four charts which will give you more insights.
High premiums and lack of funds were the main reasons that people did not buy life insurance
Lack of funds and better investment opportunities were the main reasons for not renewing life insurance
Awareness about life insurance and its importance is high in 30 plus age group