The Changing Face of Life Insurance in India
Customer experience will be more enhanced now. Insurers will proactively reach out to you through technology and will have all your details. More often than not, the underlying trigger for life insurance purchase is a change in life stage e.g. new job, change in job, promotion, marriage, child birth, etc. Suppose there's an existing customer is in the hospital and his wife has just delivered a baby. While his joy knows no bounds, he also feels an additional sense of responsibility towards his new born and his family.
At this point of time, he will get a message from his life insurance company congratulating him on this event. The message will also explain how buying a child education plan that matures 20 years hence would help them cover their child's college education and that a friend of his recently bought a similar plan. And this could be availed of at the click of a button, with no additional documentation.
Every time the parent gets a promotion or a pay hike, the life insurer will make a targeted reach out with a customized message for cover enhancement or top-ups. The possibilities are limitless with the right data capture and use of analytics and technology. You will see insurers adopting a lot of scenario- or situation-based sales and these engagement options will be inserted into your regular journeys.
According to World Bank data and projections, it is estimated that India will have over 350 million people over the age of 50 years by 2030. Couple this with the increasing life expectancy for urban Indians, which has grown substantially over the past few decades and is already more than 70 years for men and over 73 for women. And that will be even higher for the more aware segment within urban India. You are likely to experience a comprehensive ecosystem of services for the elderly serving a range of needs including experts catering to their travel requirements, mental health counselors, health care providers, will services, estate planning agents etc. And all of these offered on a single holistic platform where financial contributions, vested benefits, periodic payouts are readily accessible.
It is clear that the face of Life Insurance in India is changing and evolving to stay relevant with the times.
HDFC Life offers a wide range of Life insurance policies to help you plan your financial future. Choose the best for yourself policy as per the above points and secure your Family's financial future.
Term Plan Articles
Investment Articles
Savings Articles
Life Insurance Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
Popular Searches
- Term Insurance Calculator
- Investment Plans
- Investment Calculator
- Investment for Beginners
- Best Short Term Investments
- Best Long Term Investments
- 5 year Investment Plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- income tax calculator
- bmi calculator
- compound interest calculator
- income tax slab
- Income Tax Return
- what is term insurance
- Ulip vs SIP
- tax planning for salaried employees
- HRA Calculator
- Annuity From NPS
- Retirement Calculator
- Pension Calculator
- nps vs ppf
- short term investment plans
- safest investment options
- one time investment plans
- types of investments
- best investment options
- best investment options in India
- Term Insurance for Housewife
- Money Back Policy
- 1 Crore Term Insurance
- life Insurance policy
- NPS Calculator
- Savings Calculator
- life Insurance
- Gratuity Calculator
- Zero Cost Term Insurance
- critical illness insurance
- itc claim
- deductions under 80C
- section 80d
- Whole Life Insurance
- benefits of term insurance
- types of life insurance
- types of term insurance
- Benefits of Life Insurance
- Endowment Policy
- Term Insurance for NRI
- Term Insurance for Women
- Term Insurance for Self Employed
- Benefits of Health Insurance
- Health Insurance for Senior Citizens
- Health Insurance for NRI
- Best Term Insurance Plan for 1 Crore
- personal accident insurance
- Annuity Calculator