Less than half of life insurance policies renewed beyond five years, study finds

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A study by Mintik, a Bengaluru-based analytics firm, has found that only 48% of life insurance policies are renewed for more than five years. The data indicates a significant early lapse rate, meaning over half of policies are discontinued within that timeframe. This trend raises concerns about long-term savings and financial protection among policyholders. The findings were released by the firm based on an analysis of industry data from recent years.

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