Every time a natural calamity strikes India, the reality regarding insurance penetration emerges. The affected areas experience huge economic and personal losses, of which only 10-12% are insured. There are major losses to public infrastructure followed by households, automobiles, commercial setups and manufacturing units. However, the insurance exposure is limited to industries, commercial setups, and automobiles.
ULIPs cannot be advertised as investment product: IRDAI
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