Magazine date:
May 2014 According to Shivdutt Das, vice-president "Product Development" of Tata AIA Life, the "The rapid increase in working population" and the lengthening of the life expectancy in India are expected to raise up the life insurance market.
A recent estimate gives the population to 627 million in 2020, against 521 million in the last census. Life expectancy is expected to increase, meanwhile, from 67 to 70 years between 2016 and 2020. Estimates are auspicious for the life insurance industry, when we know that 23% of household savings in 2011/12 were dedicated to insurance products.