Reinforcing the national objective of achieving “Insurance for All”, Shri Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), unveiled a Consumer Awareness Comic Book Series aimed at improving insurance literacy and expanding financial protection across India. Launched on National Insurance Awareness Day, the initiative reflects a coordinated policy effort by IRDAI and the life insurance industry to address low insurance penetration through greater consumer awareness and informed decision-making.
The comic series explains key life insurance concepts, including the Married Women’s Property (MWP) Act, Waiver of Premium (WoP) and Critical Illness riders, through the experiences of a young life insurance advisor named Supriya. By replacing technical explanations with relatable storytelling, the initiative seeks to make insurance more accessible across age groups and geographies.
ShriKamleshRao, Chairperson of the Insurance Awareness Committee-Life (IAC-Life), said strengthening household financial preparedness is central to India’s long-term economic resilience and highlighted progress under the second phase of the ‘SabsePehle Life Insurance’ campaign. ShriAditya Gupta, Secretary General of the Life Insurance Council, said consumer awareness and trust will remain critical to expanding insurance coverage as the sector enters its next phase of growth.
The launch also featured a policy-focused panel discussion, “India Asks: Why Prioritize Life Insurance?”, with KamleshRao, M. Doraiswamy, Managing Director, LIC, Sameer Bansal, MD & CEO, PNB MetLife, and Rushabh Gandhi, MD & CEO, IndiaFirst Life Insurance, moderated by financial journalist Sonia Shenoy.
The initiative comes as India’s life insurance sector recorded a 15.7 per cent year-on-year increase in New Business Premium during FY26 and issued more than 2.83 crore policies. However, industry leaders observed that insurance penetration continues to lag the country’s economic growth. With an estimated life insurance protection gap of 87 per cent, rising above 90 per cent among those aged 18-35, policymakers and industry stakeholders view financial literacy, consumer trust and sustained awareness campaigns as essential to achieving universal insurance coverage and strengthening India’s long-term economic resilience.
