The Indian consumer has been buying insurance through the “friendly neighbourhood agent” for over five decades. Till date, this route remains the most preferred one with seven out of 10 Indian households preferring to buy insurance policies through agents, as per a recent report by sector regulator Irda. On the other hand, the number of agents have been declining. LIC agents, who have been at the forefront of the insurance sales push, have come down from 26 lakh in FY12 to 21 lakh in FY17. Does that mean you should look to buy insurance online? Read on.
India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report
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