The three key messages coming out of the life insurance sector’s 9MFY22 new business product mix data are: (1) Unit-linked insurance plans (Ulips) are making a strong comeback; (2) pension products and non-par (savings and protection together) continue to grow strongly, but annuity and par savings seem to be struggling; and (3) the materially slow growth in sum assured from individual new business vs. premium growth very clearly reflects the slowing volume of retail protection amid multiple rounds of price hikes by leading private life insurers.
Financial Terms Like Mutual Fund, IPO and Bond Now In Sign Language For Differently-Abled
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