Why endowment plan, a traditional life insurance scheme, is part of most household finances
Unlike term plans that provide life risk cover or unit-linked schemes, where returns are market-linked, endowment plans offer maturity benefits upon survival & minimum guaranteed return.
Can information disclosures influence life insurance purchase decisions for low-income households?
There are several reasons for low take-up of life insurance policies in general and specifically low take-up of term life insurance. These factors range from supply side barriers such as misaligned incentive structures for agents selling life insurance policies, lack of availability and accessibility to a larger suite of life insurance products customized to the needs of low-income households to demand-side barriers such as household’s contextual factors that limit their awareness and priority for a life insurance product and their behavioural preferences pertaining to life insurance products.
988 Mn Indians Do Not Have Life Insurance. Those Who Do, Are Insured For 7.8% Of What’s Needed To Cover Financial Shock
At least 988 million Indians–more than the population of Europe and 75% of all Indians–are not covered by any form of life insurance, and an Indian is assured of only 8% of what may be required to protect a family from financial shock following the death of an earning member, according to our analysis of government data and industry data.
