Term insurance adoption in India is accelerating, with the number of policies growing at a 15–20% CAGR, while the average sum assured has increased from around ₹1 crore to nearly ₹2 crore over the past three years, according to Amit Chhabra, Chief Business Officer at Policybazaar, and Satishwar B, Bandhan Life Insurance. New buyer groups — self-employed individuals, housewives, and NRIs — are entering the market, alongside salaried professionals. Last year’s GST exemption on premiums helped push insurance into everyday household conversations. However, experts caution that while more people are buying term plans, many remain underinsured relative to their needs.
First Published: Jul 1, 2026 5:14 PM IST
Note To Readers
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.
