Term insurance price indices surge 4.18% in December quarter: Report
Live MintThe Indian insurance industry has been experiencing adversity in terms of claims amid surging covid cases, and this in turn is hurting consumers as re-insurers hike premium prices. In the fourth quarter of 2021, the term insurance price index value has gone up by 4.18% to ₹23,929. Insurance web aggregator PolicyX.com's report shows a huge difference of 9.75% in the term index value between the first quarter and the fourth quarter. Along with that, the underwriting of term insurance prices has also gone stricter to ensure the reduction in the losses caused to the term insurance companies in the future." Analyzing on the basis of the age factor, the Term Insurance Price variation widened with the increasing age of an individual in the last quarter.
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