Life Insurance for Risk Mitigation: An Analysis of the Ever-slow Transition in Indian Insurance Sector

Ratheesh Nair


Life insurance in India has always been subject to several deviations from the actual financial instrument that it is. Our history of using insurance as a tool for investment has led to a substantial population in the country remaining uninsured and even the ones who do possess insurance cover are underinsured. Several researches and studies have revealed this condition, however there has been no concrete modus operandi formed to tackle this situation by either the regulators or the insurance service providers. The risk exposure of today’s urban and rural population is increasing exponentially and needs to be addressed on priority. This can be seen as an opportunity to rectify the mistakes of past and truly utilize life insurance as what it is supposed to be – an effective risk mitigation tool.

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ISSN : 2251-1571