Why do people buy insurance policy in india?

Question

consumer buying behaviour

Answer 1

Future provision for old age

Tax benefits

Financial protection for Dependants

Peace of mind

Safe returns

Long term savings.

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Answer 2

Because this is not U.S. where all its citizens are insured. Indian citizens need to buy insurance policies for insuring their families in case of any mishappening.

Answer 3

There are many reasons

Most Indians take an insurance policy as a saving instrument

Some take out insurance policies to save tax.

Previously there weren't too many options to put money safely.

A very frew consider it as a backup  or security tool.

Answer 4

consumer buy expecting return & tax saving. Very some people actually purchase it for the sack of insurance.

Answer 5

because india is a very family oriented country so indian people really care about their family and their children and indian woman usually do not work so they all depend upon their husband so they buy insurance policy.