HNI Term Insurance Purchases Double in 2 Years: What's Driving the Surge?

• High Net Worth Individual (HNI) term insurance purchases doubled in two years, outpacing the overall market.
• Individuals aged 30-39 account for 57% of HNI term purchases, indicating early financial planning.
• Affluent buyers opt for an average cover of ₹2 crore, double the non-HNI average, with demand for ₹3 crore policies rising 45% year-on-year.
• Marriage has emerged as the primary trigger for term insurance purchases among affluent households, reflecting structured financial planning.
• CXOs, senior corporate professionals, doctors, lawyers, business owners, and tech entrepreneurs drive volumes, with Bengaluru and Hyderabad leading demand.