According to a survey conducted in 2023 in India, 85 percent of respondents were aware of the life insurance. However, only 28 percent of the respondents currently owned a life insurance policy. The most important purchase barriers were affordability issues, lack of sufficient understanding, and procrastination.
Awareness and ownership levels of life insurance in India as of March 2023
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Policybazaar. (July 5, 2023). Awareness and ownership levels of life insurance in India as of March 2023 [Graph]. In Statista. Retrieved November 07, 2024, from https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/
Policybazaar. "Awareness and ownership levels of life insurance in India as of March 2023." Chart. July 5, 2023. Statista. Accessed November 07, 2024. https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/
Policybazaar. (2023). Awareness and ownership levels of life insurance in India as of March 2023. Statista. Statista Inc.. Accessed: November 07, 2024. https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/
Policybazaar. "Awareness and Ownership Levels of Life Insurance in India as of March 2023." Statista, Statista Inc., 5 Jul 2023, https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/
Policybazaar, Awareness and ownership levels of life insurance in India as of March 2023 Statista, https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/ (last visited November 07, 2024)
Awareness and ownership levels of life insurance in India as of March 2023 [Graph], Policybazaar, July 5, 2023. [Online]. Available: https://www.statista.com/statistics/1421727/india-awareness-and-ownership-levels-of-life-insurance/