Life Insurance In India: In the report by National Insurance Academy, it has been told with figures that about 95 percent of the country’s population is like this, while 73 percent of the people of the country do not even have any health insurance.
There has been a lot of awareness regarding insurance in the recent past and after the Corona period, it was being said that people have started considering getting insurance as one of the most important tasks. But, now a shocking revelation has been made in a report. In the report by the National Insurance Academy, it has been told with figures that about 95 percent of the country’s population is such that it does not have insurance.
Only 5 percent of the population has insurance
According to PTI, this report of the National Insurance Academy has been released by Insurance Regulatory and Development Authority of India (IRDAI) Chairman Devashish Panda on Thursday. If we look at this, at present only 5 percent of the population in India has insurance cover. All the claims spreading awareness about insurance seem to fail in front of the data presented in this report.
The statistics related to insurance are shocking
During an epidemic like Corona, the importance of insurance had come to the fore, but despite all the efforts of the government and insurance regulator IRDAI, people are not giving that much importance to getting insurance. Regarding this report, IRDAI Chairman Devashish Panda has said that insurance companies need to make better efforts in this direction. According to the report, 84 percent people of low and middle income group and 77 percent people of coastal areas, second and third category cities do not have insurance.
73% of the population does not have health insurance
If we look at the data given in the report, 73 percent of the country’s population is not covered under health insurance. It has become important to increase insurance coverage in view of the continuous increase in the number of natural calamities and other climate related calamities hitting the country. Devashish Panda also said that there is a need for a compulsory natural disaster insurance in high risk areas and this has also been recommended in this report.
Insurance business is big in India
The insurance sector in India is continuously growing and its scope is increasing. At present, 34 general insurance companies and 24 life insurance companies are operating in the country. Many reports have claimed that there has been a rapid increase of 15-20 percent. But despite this, the interest of the people of the country in getting insurance is less. According to IRDAI, apart from banking services, insurance services are contributing about 7 percent to the country’s GDP.
