Insurance portal Policybazaar.com recently scanned its customers’ behaviour in buying insurance plans and observed some interesting trends. It took a sample of 55,000 people. With increasing awareness and the advent of online term plans and the resultant decline in premiums, more and more people are now searching for term plans and for higher sums assured–the payout to the nominees on death. Customers are finally looking at the insurance product not through the prism of tax savings but for the purpose of taking adequate cover. Interestingly, women still don’t shop for term plans online and the search is concentrated in metro cities.
Also See | Insurance Penetration (PDF)
Graphics by: Yogesh Kumar/Mint