Insure

Demand for guaranteed-return insurance covers witnesses sharp rise

Demand for guaranteed-return insurance covers witnesses sharp rise
BCCL

At the same time, bank FD rates for leading lenders such as State Bank of India, HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Bank of Baroda are between 5% and 5.4%.

Synopsis

Brokers and insurers have seen the demand for guaranteed covers spike 15-20% in the last quarter of FY21, according to industry insiders at a time when equity-linked investment instruments too have displayed high levels of volatility keeping risk averse households away from such bets.

By , ET Bureau
3 mins read, Last Updated:
Life insurance agents and bancassurance partners are using multi-decadal low fixed deposit rates offered by all major banks as a hook to sell more and more of guaranteed return insurance policies, convincing customers that these will fetch higher returns on their long-term savings funds. Brokers and insurers have seen the demand for guaranteed covers spike 15-20% in the last quarter of FY21, according to industry insiders at a time when

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