Reasons for considering purchase 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 the respondents considered buying life insurance after coming across promotions and commercials. 66 percent of the respondents considered buying it due to fear and 54 percent due to financial prudence.

Reasons for considering purchase of life insurance in India as of March 2023

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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.

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Life insurance industry in IndiaLife insurance worldwideInsurance industry in IndiaGlobal insurance industry
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