Here Are Few Tips Why Women Should Invest in Life Insurance?

The insurance market in India is showing clear signs of expansion, asking insurance providers to be ground breaking in their approach. Insurance as a financial product occupies an essential place inside our current complex financial world. It just as become so because risk, that can be insured, has considerably increased in almost every walk of our lives. It has naturally led to the overall growth of the insurance sector plus the evolution of a number of insurance covers. In India, the entire market size of the insurance sector was projected to be around US$280B in 2020.

With such huge market potential, one may believe that it’s as a result of significant penetration density in the country. However, India’s insurance penetration was pegged at 4.2% in FY21, with life insurance penetration at 3.2% and non-life insurance penetration at 1%. Another stark statistic supplied by IRDAI annual report for FY20 showed the quantity of life plans purchased by women through the financial year dropped 11.76% on a YoY basis.


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