1. Are you aware that life insurance is sold by different channels like agent, bank, broker, distributor, insurance company office?
2. Are you aware of the difference between insurance agent and insurance company office which has employees for marketing their insurance products?
3. From whom have you purchased a life insurance product?
4. Have you purchased a life insurance product directly from a life insurance company’s office (not agent, bank, broker or distributor)?
Broker-2% Yes-95%
Yes-74%
No-3%
No-21%
Can’t say-2%
Can’t say-5%
95% of the respondents are aware that life insurance is sold though numerous channels
74% are aware of the difference between agents and employees of insurance companies
Distributor-2% Insurance company office-9% Others-3% Agent-73% Bank-5%
Can’t say-1% Not purchased any life insurance-5%
73% buyers prefer dealing with agents. Only 9% prefer buying from insurance company office
Yes-22% No-76% Can’t say-2% One in five has purchased a policy directly from a life insurance company