Archive · 26 Jun 2025
India's Insurance: Rising Awareness, but Underprotected Citizens
Even though more people know about insurance, many Indians are not fully protected financially.
A report says that a lot of families could struggle with hospital bills.
Young people know about insurance but wait to buy it because it seems expensive.
Women often don't have their own insurance policies, and people in rural areas may not understand their policies.
People with higher incomes also need better insurance.
The report says that people need to buy insurance sooner and make sure it covers all their needs.
India's insurance penetration is increasing, but financial protection lags.
61% of urban households could be destabilized by a hospital bill.
Gen Z delays insurance despite being financially savvy.
Women are severely underinsured, with only 1 in 5 working women owning life insurance.
Rural areas often lack understanding of insurance, relying on schemes without ownership.
- Who
- The Suraksha Kavach Report 2025 was produced by BajajCapital Insurance Broking Ltd.
- What
- Indian insurance penetration is rising, but financial protection remains inadequate.
- When
- The Suraksha Kavach Report 2025 was launched on Insurance Awareness Day (June 28).
- Where
- India
- Why
- To highlight the gaps in insurance coverage and encourage action.
Current State
Desired Future
Awareness vs. Action
Current State
Insurance awareness is rising.
Desired Future
Many are still financially vulnerable and delay purchasing insurance.
- Report Publisher
- BajajCapital Insurance Broking Ltd.
- Urban Households Vulnerable
- 61%
- Average Term Policy Underpowered
- 30-50%
- Gen Z Actively Researching
- 64%
- Gen Z Purchasing Insurance
- 41%
- Working Women with Life Insurance
- 1 in 5
- Rural Policyholders Buying Independently
- 16%
- High Income Term Cover
- Rs 1.1 crore
Sources
Insurance illusion: 79% of Indians unsure what their policies actually cover, says survey
Survey reveals 79% of Indian policyholders unsure about insurance coverage
Insurance growth opportunity lies in India’s smaller cities: Reliance Nippon CEO
