Canara HSBC Oriental Bank of Commerce Life Insurance and FICCI conducted a first-of-its-kind joint study 'Life Insurance - A Consumers' Perspective' to understand the overall perception of an individual towards various aspects of life insurance and the decision making process that a person undergoes while making a choice. The report highlights that people understand the significance of life insurance and aspire to purchase such products for a better and secure future. The study also identifies the importance of need analysis, adequacy of coverage, major gaps present in the existing processes and showcases the factors which can boost insurance penetration in India, particularly through the Bancassurance channel.
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