The staff collected the insurance bond from the family members, corroborated the same with the details in the FIR and other documents filed by the police

India has a major share of the millennial demographic — 34% of the total population — to be precise. While this might be a significant percentage, before the pandemic struck, this consumer segment seldom considered having an adequate insurance policy.

There has been a rise in awareness about the benefits of insurance, but the sector still has a long way to go

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State-owned Life Insurance Corporation of India said it has achieved highest number of policies for the last six years in 2019-20. In a round-up of its performance for the last fiscal, LIC said it registered a growth of 25.17 per cent in first-year new business premium when compared to private players who collectively achieved a premium growth rate of 11.64 per cent.

Growth has been driven by LIC's products that were closed and re-launched in February