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Reasons Why Life Insurance is Great Sector to Invest In
October 01, 2018
Low Penetration
The ratio of premium to Gross Domestic Product (GDP) in India is only 2.7 percent compared to a world median of 3.5 percent, or Thailand’s 4 percent or South Africa’s 11 percent. This makes Life insurance an exciting high growth sector.Underinsurance
We not only have the issue of lower penetration, but also under-insurance. People who are aware and have taken an insurance policy are grossly underinsured. Both these factors mean faster growth opportunities.Fastest growing economy
Our population is only growing at about 1.2 percent. This means, the per capita income will grow at a much more rapid pace. This leaves space for fast growth.Foreign Institutional Investors and pension funds like them
Long-term institutional investors like pension funds and other FIIs love the life insurance sector for the visibility it offers. And knowing the growth possibilities in the sector, they are likely to hold these stocks for a really long term.The long term capital gain gifts
This year’s budget exempted the investments through Unit Linked Insurance Plan (ULIPs) from the Long Term Capital Gains (LTCG) tax. While direct equity and mutual fund units will bear the LTCG impact, the ULIPs will be exempted. This gives the ULIPs a tax differential, which will make them a preferred vehicle of equity investments. As more money flows into ULIPs the Assets under management (AUMs) of these insurance companies will rise, enabling them to improve their returns to their shareholders.High Growth
New business in life insurance premium has increased at a Compound Annual Growth Rate (CAGR) of 24.3 percent for 2015-17. Life insurance companies enjoy a lower corporate income tax rate of 14.3 percent.
Life Insurance is the best sector to make an investment in the present. HDFC LIFE offers various plans to help you plan your investment.
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Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
Vishal Subharwal
Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.
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