This initiative was launched as part of National Insurance Awareness Day
Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth on Saturday unveiled a consumer awareness comic book series aimed at improving life insurance knowledge and simplifying key insurance concepts for the public.This initiative, launched as part of National Insurance Awareness Day, was developed in collaboration with the life insurance industry and seeks to make insurance-related information easier to understand through storytelling rather than technical explanations.According to the organisers, the comic book series focuses on explaining concepts such as Married Women’s Property (MWP), Waiver of Premium (WoP) and critical illness riders through relevant scenarios.The stories revolve around a young life insurance consultant named Supriya, who helps readers understand how financial decisions can affect long-term financial security.
The initiative aims to improve insurance culture
This launch is part of IRDAI’s broader ‘Insurance for All’ vision to improve insurance awareness and encourage informed financial planning among households.Kamlesh Rao, Chairman, Insurance Awareness Committee (IAC-Life), said the initiative seeks to make insurance concepts more accessible and encourage greater understanding of life insurance among consumers.
He also gave an overview of the awareness initiatives undertaken by the Committee over the past year, including the second phase of the ‘Sabse Pehle Life Insurance’ campaign, and outlined its priorities for expanding outreach to consumers.The comic book series aims to make conversations about life insurance simpler and more relatable, said Aditya Gupta, Secretary General, Life Insurance Council, adding that the industry will continue to work with the regulatory body to enhance consumer awareness.
Industry highlights protection gap
The launch also included a panel discussion titled “India Asks: Why Prioritize Life Insurance?”, which included LIC Managing Director Kamlesh Rao Doraiswamy, PNB MetLife Managing Director and CEO Sameer Bansal, and IndiaFirst Life Insurance Managing Director and CEO Rushabh Gandhi.The discussion was moderated by financial journalist Sonia Shenoy.The session discussed the role of life insurance in financial planning and the need to increase awareness and adoption across the country.According to regulators, the life insurance industry in India registered a 15.7% year-on-year increase in new business premiums (NBP) during FY26 and issued over ₹2.83 lakh crore worth of insurance policies.However, they pointed out that the spread of insurance has not kept pace with the growth of the sector and stressed the need for continued efforts to improve awareness and financial literacy.The Insurance Awareness Committee, which was constituted under the Life Insurance Council in 2019, said a large section of India’s population continues to be underinsured.It estimates that 87% of Indians face a gap in life insurance protection, with the figure exceeding 90% among people aged 18 to 35 years. The committee includes 25 life insurance companies that work together on consumer awareness campaigns.