Awareness and ownership levels of life insurance in India 2023

Published by Sandhya Keelery, Aug 30, 2024
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

© Statista 2024
Download
Show detailed source information?
Register for free
Already a member?
Log in
Source

Use Ask Statista Research Service

Release date

July 2023

Region

India

Survey time period

February 2023 to March 2023

Number of respondents

1,651 respondents

Age group

23 years and older

Method of interview

Face-to-face interview

Supplementary notes

12 percent of the respondents were females and 88 percent were males.

46 percent of the respondents belonged to metro cities, 35 percent to tier 2 cities and 19 percent to tier 3 cities.

Citation formats
Access all statistics starting from $2,388 USD yearly *

* For commercial use only

Basic Account

For single users
$0 USD
Always free
Access limited to Free Statistics. Premium Statistics are not included.
  • Free Statistics
Based on your interests

Starter Account

For single users
$199 USD
per month, billed annually 1
Buy now
  • Free Statistics
  • Premium Statistics

    • The statistic on this page is a Premium Statistic and is included in this account.

Professional Account

For teams of up to 5 people
$959 USD
per month, billed annually 1
Buy now
  • Free + Premium Statistics
  • Reports
  • Market Insights

1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.

Compare accounts

Statistics on " Life insurance in India "

The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics

Other statistics that may interest you Life insurance in India

Overview

5

Key indicators

6

Market players

5

Claims and complaints

4

Consumer behaviour

6

Inclusivity and emerging trends

6

Further Content: You might find this interesting as well

Topics

Life insurance industry in IndiaLife insurance worldwideInsurance industry in IndiaGlobal insurance industry
Access all statistics starting from $2,388 USD yearly *

* For commercial use only

Basic Account

For single users
$0 USD
Always free
Access limited to Free Statistics. Premium Statistics are not included.
  • Free Statistics
Based on your interests

Starter Account

For single users
$199 USD
per month, billed annually 1
Buy now
  • Free Statistics
  • Premium Statistics

    • The statistic on this page is a Premium Statistic and is included in this account.

Professional Account

For teams of up to 5 people
$959 USD
per month, billed annually 1
Buy now
  • Free + Premium Statistics
  • Reports
  • Market Insights

1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.

Compare accounts
Learn more about how Statista can support your business.