From a survey conducted and published by Rooster Logic on ‘Consumer Behaviour towards Life Insurance’, has found that 75% of respondents were aware of life insurance policies but only two out of ten respondents said that they own a life insurance policy. The survey also revealed that 55% of respondents were not asked to subscribe to any life insurance schemes and only half of the respondents were open to own life insurance if few key services were provided with their bank accounts. In terms of expectation of key services, 91% of respondents expects clear premium automatically, 45% wants life insurance policy to be obligatory, 98% wish for automatic claim transfer, 86% wants seamless draw and deposit of life insurance and 77% of respondents desire periodic interest from life insurance. The survey was published for the month of November 2019.
