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Message: <blockquote data-quote="pradeepsu" data-source="post: 30311249" data-attributes="member: 573267">I doubt even 10% of the population has coverage - this is correct.  in SL, market penetration is lower in Life Segment. Many factors affecting on it, few reasons are as follows- Availability of a disposable income- Lack of Understanding why need a cover, and what cover is needed to cover the requirementAlso, need to understand that, the person who has started this thread talks about something on life insurance , not a medical insurance. When it come Medical insurance, it  is something falls within General Insurance section, like come to Motor Insurance, the market penetration is higher, since by Law it is mandated to have a minimum level of motor insurance coverage to have a motor vehicle running on road . But, when it come to comprehensive cover, the market experiences a draw back recently. This is mainly due to lack of disposable income of people and increase in premiums .Has any one asked you to go into an agreement blindly ? or have someone forced you to sign a contract before hand without sharing the terms ( quotation slip) ? Hell No, Your friend / agent might be fooling you. No need to go into a blind document without knowing the terms.You will be presented Quotation by the insurance company , with terms of cover in a simpler document. The quotation which refers certain points to the detailed specification (policy book, where each term is explained / described in detailed.) , you are signing your proposal form, according to the terms received via quotation. then you are receiving the policy schedule which has your details included to the policy document, in relevant places, with detailed explanations on what that and this means to.  the Insured has 30 Days from date of cover to read this document and understand whether it is up to his / her satisfactory. If not satisfactory then , a full refund can be request. Good luck !</blockquote>

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