Life insurance penetration in India was always low, but, worryingly enough, it has been falling even lower for two consecutive years now.
Insurers have started focussing on traditional plans, but these may not serve your interests best.
Spreading the cover across insurers can act as a hedge against claim rejection even though it may cost more than having a single big cover.
Earlier, unit-linked insurance plans were being surrendered before maturity. After the change in rules, Ulips are not finding takers.
Notwithstanding the 9-10 per cent assured return sales pitch, guaranteed-income plans are nothing but traditional plans packaged attractively.
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