Market Potential

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• It is one of the least Insured Market in the world

• Out of total insurable population only 40% are covered till today

• These 40% also are also not adequately covered

• These 40% also are also not adequately covered

• We will help build your career as a professional agent and make sure that you will be among these top 20% agents

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Low Insurance Penetration

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• Insurance penetration is measured by Premium as a percentage of GDP

• We will come to know about the potential when we compare the difference in penetration level in India with other countries of the world

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Increase in Working Population

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• India has about 40% of young population at present i.e. age group 20 to 49 years. This is expected to grow to 65% by the year 2020

• Research by Morgan Stanley shows that India’s working-age population will increase by 136 million by 2020. (China’s working-age population, by comparison, will grow by 23 million)

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High per capita Savings

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• Indian People are good savers. Indian Gross household saving in financial sector is 8% of GDP for the year 2019-20

• We will come to know about the potential when we compare the difference in penetration level in India with other countries of the world.The share of life Insurance premium was 19.9% of gross house hold savings. (Source: RBI Annual Report 2019-20)

• Report on the savings pattern states that:
  83% save for emergencies,
  81% for Children’s education,
  69% for old age,
  63% to meet future expenses towards marriages, birth and social ceremonies

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Growth in Personal Income

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• As per report of National Council of Applied Economic Research (NCAER) 2019-20

• There are 28.4 million families with incomes between Rs 2 lakh and Rs 10 lakh per annum. (This is as per the World Bank definition of middle class)

• There are 28.4 million families with incomes between Rs 2 lakh and Rs 10 lakh per annum. (This is as per the World Bank definition of middle class)

• These households are expected to grow 4 times in next 10 years

• The report said that two thirds of the Indian middle class is to be found in urban India

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Report on the savings pattern

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• 83% save for emergencies

• 81% for Children’s education

• 69% for old age.

• 63% to meet future expenses towards marriages, birth and social ceremonies The above pattern indicates tremendous scope for life Insurance products.

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Report CII & Ernst & Young in Sept. 2019

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• The projected per capita GDP of India is expected to increase from ₹18,280 in FY 2019 to 1,00,680 in FY 2026, which is indicative of rising disposable incomes

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• A recent study by McKinsey also predicts that India’s economy will grow fivefold in the next 20 years

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• A recent study by McKinsey also predicts that India’s economy will grow fivefold in the next 20 years