During the Corona period, 50 per cent of people took out insurance cover of Rs 1 crore or more

New Delhi, 27 September 2020 Sunday

The Corona virus epidemic has raised awareness about insurance. Because of this, more and more customers taking out life insurance policies are taking out insurance cover of Rs 1 crore or more. This information is provided by data from a well-known website that sells insurance policies online. He said that during April-August, 2020-21, 50 per cent of life insurance policyholders took out insurance cover of Rs 1 crore or more. Consumers want financial security for their family during an epidemic.

According to a report on the web site, "Data from one crore or more people taking out insurance cover shows that during April-August, 50 per cent of consumers have taken out such a large amount of insurance cover, indicating that people are investing in high cover policies. These policies are available at very cheap prices up to Rs.1000 per month.The website claims that one out of every four life insurance policies sold in the country is sold through its platform.

Due to the uncertainty created by Covid-19 and the steps taken by The Insurance Regulatory and Development Authority (IRDA), more and more people are buying insurance policies so that they can provide financial security to their family at such an indefinite time. Based on the data, the website said the life insurance market has changed significantly in the first six months of the current financial year. The company said, "There has been a huge increase in the number of people in the age group of 42-50 years taking out life insurance policies. This is an increase of about 77 per cent.