Life Insurance: Fear of Corona increased the sale of life insurance, know why most people are planning to buy

Life Insurance: Fear of Corona increased the sale of life insurance, know why most people are planning to buy

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new Delhi. Due to Corona, there has been a boom in the insurance industry all over the world. In the uncertain environment after the pandemic, more and more people are getting attracted towards life insurance and are beginning to consider it necessary. Young people are also buying life insurance policies.

A survey by Life Insurance Corporation of India has said that due to the pandemic, people have started considering it necessary to buy life insurance along with investment in equity and other instruments. This is the reason why 91 percent of the people of the country consider it necessary to buy insurance. However, only 70 per cent of the people want to invest in it of their own free will.

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Still the difference remains
LIC said in the survey that in the era of Corona, awareness about life insurance has increased among people. During this time its sales increased significantly. Despite this, there still remains a gap, which needs to be filled. For this it is necessary to create awareness about the importance of life insurance. This survey is based on conversations with 12,000 people from 40 cities.

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71% people already have policy
It has been said in the survey that 71 percent of the people of the country already have a life insurance policy. These people say that it is necessary to buy life insurance keeping in mind the financial goals. This will not only fulfill the financial needs of the family after them but will also get rid of liabilities.

Know how many people understand life insurance
In Pune, Mumbai, Ahmedabad, 92 percent people have a life insurance policy. Life insurance is understood by 96 percent of the people, while only 63 percent of the people know about mutual funds and 39 percent about equity shares. It has been said in the survey that people aged 36 years and above have life insurance as compared to the youth. More than half of the youth prefer to buy life insurance policies from agencies, while 30 per cent approach banks.

Tags: investment, Life Insurance, Life Insurance Corporation of India (LIC), Saving

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