MUMBAI: In a country racing to become a $5 trillion economy, India is still trailing badly when it comes to protecting its people. The life insurance protection gap has widened to a worrying 87 per cent, with those aged 18–35 facing an even starker shortfall of over 90 per cent, according to a 2023 study by the National Insurance Academy.
Ringing the alarm bells, the Insurance Awareness Committee—representing all life insurers in India—has launched the next chapter of its pan-India campaign Sabse Pehle Life Insurance. The year-long initiative urges Indians to put protection before profit, making life insurance the foundation of every financial plan, not an afterthought.
Insurance Awareness Committee (IAC-Life) member said, “Sabse Pehle Life Insurance is not just a slogan—it’s a clarion call to rethink how we approach financial planning. We often treat protection as an afterthought in the endeavour to build wealth. This campaign aims to change that mindset. It is about putting protection first, about securing dreams before chasing them. Just as every structure needs a strong foundation, we should place every financial plan on the bedrock of life insurance. Our goal is to turn awareness into action, ensuring that no Indian family remains financially exposed.”
At the heart of the campaign is a series of emotionally grounded films and digital content that show how life insurance can be the safety net that keeps families afloat and dreams alive when life takes an unexpected turn.
The initiative spans television, digital, print, and outdoor media, while a revamped online knowledge hub—sabsepehlelifeinsurance.com—helps people understand coverage needs and make smarter choices.
The campaign aligns with the IRDAI’s 2024 mandate requiring insurers to reach at least 10 per cent of lives across 25,000 Gram Panchayats. It also comes as the industry boasts a claim settlement ratio of 96.82 per cent within 30 days for FY 2023-24, according to IRDAI’s latest handbook.
With the sector growing at 9.5 per cent CAGR and projected to accelerate to 10.5 per cent over the next decade, insurers are betting big on shifting public perception—from “maybe later” to “must now.”
Because in the fine print of every financial dream lies a simple truth: it’s all moot if it’s not protected.
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