According to a survey conducted in 2023 in India, 57 percent of the respondents lacked the understanding of life insurance products. 40 percent of the respondents stated that high premiums were the primary reason for not purchasing life insurance.
Reasons for not purchasing life insurance in India as of March 2023
Characteristic
Share of respondents
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Policybazaar. (July 5, 2023). Reasons for not purchasing life insurance in India as of March 2023 [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/
Policybazaar. "Reasons for not purchasing life insurance in India as of March 2023." Chart. July 5, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/
Policybazaar. (2023). Reasons for not purchasing life insurance in India as of March 2023. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/
Policybazaar. "Reasons for Not Purchasing Life Insurance in India as of March 2023." Statista, Statista Inc., 5 Jul 2023, https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/
Policybazaar, Reasons for not purchasing life insurance in India as of March 2023 Statista, https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/ (last visited August 25, 2024)
Reasons for not purchasing life insurance in India as of March 2023 [Graph], Policybazaar, July 5, 2023. [Online]. Available: https://www.statista.com/statistics/1421728/india-reasons-for-not-purchasing-life-insurance/