Term insurance is dependent on income, age, selected policy term (say 40 years), where the premium will be fixed for whole period
The most important condition for the policy is that the minimum age of the investor should be at least 30 years or more
The trend is encouraging as insurance penetration in India is abysmally low at 3.76% as of 2019
As many as 92% of the respondents said their affinity towards unit-linked insurance plans (ULIPs) has increased after the first wave of the pandemic
Several insurance policies are sold with benefits undefined