India has a life insurance penetration of mere 3% and a protection gap of 87%. With conversations around Insurance awareness day, let us bridge the gap to a secure future! Our esteemed partner, Karnataka Bank, steps forward to help us spread the message. Mr. Jayanagaraja Rao S, General Manager- Branch Banking Dept, Karnataka Bank , Mr. Ramaswamy Subramanian, Chief Product Officer, Karnataka Bank, and Mr. Danish, National Head, Third Party Products, Karnataka Bank share their thoughts on the significance of life insurance in one's life. #hdfclife #karnatakabank #saruthakejiyo #bridgethegap
Naikesh Arora
3mo
I chose the Saral Jeevan policy last year and notified my RM that I wanted to go with monthly deductions, and I was told that it would be available after one year of the policy. This year, I called my RM a month before my policy lapsed, and she assured me that whenever you receive a notification from HDFC Life, you can contact me to set up monthly payments. I've been struggling to renew my coverage with the monthly deduction option for more than a month. I created an SR on May 22nd, and it is still in pending status. I am a working professional and daily I have to contact my RM or her senior to get the status. Every time they ask me to email HDFC Life, they keep telling me that I have to pay the premiums with a credit card or debit card first, and then it can be adjusted later. However, because I am unable to pay using a debit card, I do not wish to incur any interest or processing costs while using a credit card. So this will be similar to the EMI conversion I made last year and paid extra amount. This is a horrible service from HDFC, and RM and her senior made misleading promises.
BSC SHARMA
3mo
If the GOI is putting term insurance in 18% GST category, how can you expect insurance penetration beyond 3% ?? As insurance is most important for every working citizen, the industry should lobby with the GOI strongly and put it at par with gold jewellery, i.e. @3% because it is protective shield against life risk.
Proprietor at Generale International Traders
3moWanted some help regarding a Policy, can you please DM me. Thanks.