Amidst the horrific second wave of corona virus in India, many young people are buying life insurance. According to a report, youth in the age group of 20 to 35 years are attracted towards life insurance. The report noted that during April and May, when India was at the peak of the second wave of the pandemic, the number of youth between the ages of 25 and 35 buying term insurance at that time was 30, compared to the number in the previous three months combined. The percentage was high. According to the report, this data has been reported by Policy Bazaar, India’s largest online insurance aggregator.
The number of term insurance purchased through the website of online insurance aggregator Insurance Dekho has increased by 70 per cent as compared to May. Insurers did not say how many plans they had sold, but many said the number was in the thousands. Neeraj Shah, Chief Financial Officer, HDFC Life Insurance said that the current pandemic has raised awareness about the need for financial security.
