Op-ed: Sabse Pehle Life Insurance Campaign

After the successful campaign of Mutual Funds Sahi Hai by Association of Mutual Funds in India (AMFI), which aims to promote mutual funds, even the insurance industry is trying its best to increase its penetration.

In this regard, the Life Insurance Council came up with its Sabse Pehle Life Insurance Campaign. Before this, the General Insurance Council too launched its Faayde ki Baat campaign to promote general insurance.

The efforts of all these associations were towards creating awareness about their respective products. However, the big bummer with this campaign is that it did not promote the term insurance plan. In fact, even in their ‘Knowledge Centre’, they have a dedicated article on the difference between unit-linked insurance plans (ULIP) and endowment but not on term insurance.

However, IRDA’s campaign could not answer the ultimate question, as to which insurance to go for! One of the campaigns i.e. Mutual Funds Sahi Hai campaign did carry a counter-question, which was, Kaunsa Mutual Fund Sahi Hai?. In fact, the question that is of utmost significance here is: Sabse Pehle kaunsa life insurance?

Further, it seems that they have presented the life insurance from the agents’ perspective rather than from the customers’ perspective. In fact, AMFI’s campaign is much better than the Life Insurance Council. Mainly because AMFI has made an effort to provide proper knowledge about mutual funds and the risks associated with it. On the other hand, the Life Insurance Council has just created yet another advertisement, promoting an inefficient traditional product.

We believe that the insurance and investments should not be mixed as it won’t lead you to the desired objective. Let the insurance do its work of managing life risks and let the mutual funds, PMS, etc. do the work of creating wealth for you. Further, it is advisable to only opt for term life insurance. Hence go for, Sabse Pehle Term Life Insurance.