Insurance penetration in India stands at 4.2% as of 2020-21, with life at 3.2% and non-life at 1%, according to Irdai’s 2020-21 annual report
Ahead of the Union Budget 2022-2023, which is less than a fortnight away, insurers are asking for various tax sops from the central government to incentivize the Indian population to buy more pure-risk products.
Traditionally, tax exemptions have acted as a catalyst for people to buy insurance products. But, since the pandemic, there has been an organic demand for...read more