Why the majority of life insurance policies face early ‘death’

Why the majority of life insurance policies face early ‘death’

The life insurance industry has reported a persistency ratio of 47 per cent in the 61st month (completion of five years) in FY19, implying that less than half of the policies continue into the sixth year. Based on the number of policies renewed, even LIC, the insurance behemoth, doesn’t have a sterling record — its 61st month persistency ratio was 51 percent.

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