#FinancialInsights 

The latest reports from IRDAI validate the findings of BankBazaar's Moneymood report: although more Indians reported health coverage, there was a dip in those with both life and health insurance.

Here are some crucial data points to consider before the #Budget2025 :

- Insurance penetration in India peaked at 4.2% during the pandemic in 2021-22 but has since declined to 3.7% in 2023-24.

- India's insurance penetration remains significantly lower than the global average of 7%.

With #insurance not being that lucrative a tax saving option anymore, people are underestimating the primary reason of having such a cover: Protection! 

Can the #Budget bring any changes to reverse the trend? 

Watch @arhemant (Deputy VP, Comm. @BankBazaar) explain.

Courtesy: ET Now
#FinancialInsights