Health insurance purchases doubled between March and May this year compared to the same period in 2019
A recent survey, conducted by Policybazaar.com, has found that people are more aware about insurance in the wake of the coronavirus pandemic.
As much as 51 per cent of the respondents considered having an insurance cover important while nearly 80 per cent said they were aware of the benefits of insurance especially during a pandemic, the survey conducted by Policybazaar.com found.
“The perception of the importance of health and life insurance is higher than before,” Policybazaar.com said in a statement on Tuesday. It added that unlike in the past, insurance has now become a product that consumers are likely to buy without the need for a big sales push.
Health insurance purchases doubled between March and May this year compared to the same period in 2019.
Sarbvir Singh, CEO, Policybazaar.com, said, "This study clearly points towards both term life and health insurance starting to become a cornerstone of personal financial planning in times of the Covid-19. The pandemic has definitely accelerated awareness about insurance in India where insurance penetration remains low even today."
This online study was conducted to understand consumer sentiment towards household finances, investments and insurance during the Covid-19 pandemic and surveyed 14,624 Policybazaar.com users.
Only 15 per cent of the respondents said they were worried about a cash crunch. On the job security front, only 19 per cent respondents indicated any anxiety about retaining their employment. Nearly two in three respondents were confident of their household expenses remaining stable and manageable over the next 12 months, it further found.
Thank you for being a loyal user of Portfolio.
Portfolio will be a paid section hereon.
Please Subscribe to get access to one of our early bird packs.
Or click on Free Trial to get 14 days free trial.
What You'll Get
-
Web + Mobile
Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.
-
Exclusive Portfolio and Investment Advice, Banking, Lifestyle and Specials
Get diverse set of perspectives from our trusted experts on Portfolio, Banking, Economy, Environment and others.
-
Ad free experience
Experience cleaner site with zero ads and faster load times.
-
Personalised dashboard
Customize your preference and get a personalized recommendation of stories based on your interest.
Published on
June 09, 2020
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.
Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.
In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.
We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism