Despite several initiatives by Insurance Regulator and Insurance companies, pure risk policy is not picking up in India. A recent report by JM Financial suggests that the conversation about death is off-putting for large segments of societies. Secondly, value-conscious consumers do not like a insurance product where they pay for something and do not receive any benefit if they survive the term of a pure risk policy. In the last three years, while individual savings and investments in fixed deposits or equities markets vary with market conditions, the investment in insurance products remained constant at 18 per cent of individual financing funds. Insurance has consistently commanded 18 percen
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