NEW YORK, March 29, 2024 /CNW/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, benefits and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, large covers with longer coverage stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs residing in the US, Canada, and select European countries.
The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India that offer coverage of up to INRÂ 5 crores or ~665K USD can be easily obtained with tele-medical…
