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Insurance Policy Discontinuation Bangladesh: More than 26 lakh insurance policies have lapsed in Bangladesh in the last 14 years owing to a raft of factors including the worsening of financial health of clients, a lack of awareness among them, and agents’ tendency not to explain product features properly while selling them. ....
Few people in Bangladesh use insurance schemes to safeguard against potential financial concerns as most prefer to keep their rainy-day funds in banks and bonds, according to a recent study. ....
The survey report underscores that people tend to prioritise bank deposits, bonds, and other investments over insurance to address their financial worries ....