High net-worth individuals show strong preference for high value term insurance of up to ₹20 Crore

On July 3, 2024, Policybazaar revealed a growing preference among High-Net-Worth Individuals (HNIs) for high-value term insurance policies of up to ₹20 Crore. This trend, reflecting enhanced risk management and financial planning, shows a shift from traditional beliefs that online platforms are unsuitable for large transactions. The increasing popularity of ₹5 Crore policies and a notable rise in female buyers demonstrate a broadening acceptance of online insurance solutions.