Kolkata, 10 September 2025 :
Policybazaar, one of India’s leading online insurance marketplaces, has reported a sharp rise in term insurance adoption across West Bengal, underscoring growing financial awareness among consumers. The announcement came during a press meet in Kolkata, chaired by Gaurav Surana, Regional Head (East), Life Insurance, Policybazaar.com, ahead of the Durga Puja festivities.
Surana noted that Kolkata, widely regarded as the cultural capital of India, is showing a clear shift toward long-term financial planning. “Consumers across Kolkata and West Bengal are increasingly prioritizing family security against life’s uncertainties. This has led to a steady rise in term insurance adoption, with customers opting for higher coverage amounts and more informed choices,” he said.
Key Highlights from West Bengal:
- Strong Policy Growth: The state contributed 26% to overall policy purchases in FY25, reflecting a robust year-on-year growth trajectory.
- Higher Coverage Preferences: Average sum insured in West Bengal is ₹86.6 lakh, with Kolkata leading at ₹96.7 lakh, indicating rising awareness about adequate financial protection.
- Educated Buyers at the Forefront: In FY25, 80.1% of buyers in West Bengal and 84.2% in Kolkata were graduates and above, surpassing the national figure of 78.6%.
- Salaried and Self-Employed Growth: Salaried professionals made up 74.8% in West Bengal and 79.2% in Kolkata, both higher than the national average of 70.5%. Self-employed individuals also formed a larger share, at 20.6% in the state compared to the national 17.6%.
- Young Buyers Leading Adoption: Nearly 85% of policyholders in the state are under 40 years, with 31.8% below 30 years and 53.9% in the 30–40 age bracket.
- Women’s Participation Rising: Female policyholders accounted for 11.7% in West Bengal and 11.4% in Kolkata, signaling gradual but meaningful financial inclusion.
Policybazaar emphasized its continued commitment to supporting customers through every stage of their insurance journey—from policy discovery and comparison to purchase and claims assistance. With dedicated claim support teams, the platform aims to ease the process during emotionally challenging times.
As West Bengal continues to demonstrate strong momentum in term insurance uptake, Policybazaar reaffirmed its mission to empower consumers with transparent information, personalized assistance, and reliable plans that build long-term financial security.
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