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Karva Chauth

Birla Sun Life Insurance

Issue 27 | July 2013

Background

Religion has always played a significant role in shaping the culture of India. As Indians, we place our destiny wholly in the hands of God and therefore, the concept of insuring one's life is not given due importance. This is proven by the fact that less than 15% of our population is insured, the lowest penetration in the world. Of this, less than 3% have a pure insurance term plan. This indicates that insurance policies are mainly bought for tax saving purposes, and not for protection. The challenge was to break this mindset and get people to consider the need for protection, of their loved ones.

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