Life Insurers launch Rs 450 crore pan-India awareness campaign
The three-year initiative, funded proportionally by all life insurers based on their premium income, will see a yearly investment of Rs 150–160 crore in print, digital, radio, and television media to promote term insurance, child plans, and savings-linked covers.
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India’s life insurance industry has united behind a Rs 450 crore multimedia awareness campaign titled “Sabse Pehle Life Insurance". Spearheaded by the Insurance Awareness Committee, the campaign aims to educate citizens on the importance of financial protection, especially amid rising urban migration and economic uncertainties.
As per PTI report, the three-year initiative, funded proportionally by all life insurers based on their premium income, will see a yearly investment of Rs 150–160 crore in print, digital, radio, and television media to promote term insurance, child plans, and savings-linked covers.
The campaign comes at a critical juncture. Despite being the world’s 10th largest insurance market, India’s life insurance penetration has declined from 4% of GDP in FY23 to 3.2% in FY25, signaling a worrying trend in household financial preparedness.
Only 36 crore Indians, just over 25% of the population, currently hold any life insurance, according to Swaminathan Iyer, Member (Life), IRDAI. “This leaves over 100 crore people financially exposed. Rapid urban migration and evolving job patterns demand more resilient financial planning. Insurance has to be the first step,” Kamlesh Rao is Chairperson - Insurance Awareness Committee said.
A new survey by the council revealed that even among those with insurance, the coverage is often inadequate. The campaign, therefore, aims not only to drive new policy uptake but also to inform people about right-sizing their coverage.
“We want people to understand that insurance is not just a checkbox. It has to be timely, adequate, and relevant,” Rao added.
