Life insurance remains a critical tool for financial protection and savings in India, but coverage levels are still far below what is considered adequate for earning individuals, according to insights shared by Mithil Sejpal, Co-Founder of SLiQ (Smart LIQuidity) by ValuEnable.

The Insurance Regulatory and Development Authority of India (IRDAI) reported that 11% of health insurance claims were denied in FY24, totalling ₹26,000 crore in repudiated claims.