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Allowing your life insurance policy to lapse carries a very high cost

You will lose out on the cover, pay a surrender charge, and usually end up paying a higher premium when you buy a new policy

Topics
life insurance policy | life insurance industry | insurance premium

Sanjay Kumar Singh  |  New Delhi 



Life insurance, insurance

The persistency ratio within the industry continues to be low, according to data published in the Handbook on Indian Statistics for financial year 2020-21. The median 61-month persistency figure for the industry for FY2020-21 stood at 39.4 per cent. This figure has remained in the thirties since 2016-17.

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First Published: Fri, February 18 2022. 20:13 IST

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