{"id":2101,"date":"2024-07-07T05:44:34","date_gmt":"2024-07-07T05:44:34","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/how-much-do-high-net-worth-individuals-invest-in-term-insurance-policybazaar-reveals-trends-news18\/"},"modified":"2024-07-07T05:44:34","modified_gmt":"2024-07-07T05:44:34","slug":"how-much-do-high-net-worth-individuals-invest-in-term-insurance-policybazaar-reveals-trends-news18","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/how-much-do-high-net-worth-individuals-invest-in-term-insurance-policybazaar-reveals-trends-news18\/","title":{"rendered":"How Much Do High Net-worth Individuals Invest In Term Insurance? Policybazaar Reveals Trends – News18"},"content":{"rendered":"


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In the NCR, followed by Pune, Hyderabad, and Visakhapatnam, several policies worth Rs 20 Crore have been bought by HNIs. (Representative image)<\/p>\n<\/div>\n

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More individuals are now opting for customising their coverage with suitable riders to ensure an additional layer of protection.<\/h2>\n<\/div>\n<\/div>\n
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As the awareness and demand for term insurance gain momentum, Policybazaar has observed a steadily growing preference among High-Net-Worth Individuals (HNIs) for high-value insurance coverage. This shift is visible through an increasing number of HNIs opting for high-value policies of Rs 20 Crore over the last few years, the insurance marketplace said.<\/p>\n

The data pertains to trends on the Policybazaar platform only.<\/p>\n

Also Read: Buying Term Insurance? Don\u2019t Get Stuck, Know These 5 Things Before Paying Premium<\/a><\/strong><\/p>\n

According to Policybazaar, this trend reflects an evolving sense of risk management and financial planning in this segment. Also, this marks a departure from the conventional belief that online platforms are not favoured for high-value transactions.<\/p>\n

The shift in insurance choices is also clear with more people now opting for Rs 5 Crore policies, which was seen as very high coverage.<\/p>\n

Currently, these policies are becoming as common as the Rs 1 Crore policies, showing that Rs 5 Crore is becoming the new norm in HNI term insurance.<\/p>\n

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Key Locations<\/strong><\/p>\n

The trend indicates a notable concentration of such purchases in key metropolitan regions. In the National Capital Region (NCR), followed by Pune, Hyderabad, and Visakhapatnam, several policies worth 20 Crore have been bought by HNIs, reflecting the growing demand for comprehensive financial protection.<\/p>\n

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Similarly, cities like Bengaluru, Chennai and Mumbai have also shown a noticeable uptake, with policies ranging between Rs 10 to 15 Crore being bought by HNIs here.<\/p>\n

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Sarbvir Singh, joint group CEO, PB Fintech, said, \u201cWe are delighted to witness the growing trust of HNIs in Policybazaar for their term insurance needs. The online sale of high-ticket size policies dispels the myth that digital mediums are not preferred by customers for such high-stake transactions. We will continue to provide the accessibility, transparency and convenience that our customers trust us with.\u201d<\/p>\n

There have also been several interesting trends that have been noticed in consumer buying behaviour;<\/p>\n

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