Life insurance: Don't depend blindly on the agent, look at your needs

Ensure that you have a life and medical policy in place. This will safeguard your family against any eventuality and cover liabilities

In the past 19 years, the life insurance business has gone through a sea change. Gone are the days when the head of the household would purchase a policy through the local insurance agent who would mostly be a relative or a friend. There has been a visible increase in interest towards the product category, which can be attributed to increasing preference for financial savings. This, in turn, has increased the share of life insurance within financial assets.

The government has launched various initiatives, which have further given an impetus to financial savings — implementation of JAM (Jan Dhan,