PolicyX Reveals Changing Term Insurance Buying Trends in 2025

Term insurance premiums up 3.36% in Q1 2025, says PolicyX; millennials buy earlier, smokers pay 67% more—India's insurance habits are shifting fast.

GURUGRAM, HARYANA, GUAM, May 22, 2025 /EINPresswire.com/ -- PolicyX.com, India’s trusted insurance comparison platform, today released its Q1 2025 Term Insurance Price Index, highlighting evolving consumer behavior, key pricing trends, and notable shifts in the Indian term insurance landscape. The index, based on real-time data from over 15 insurers and thousands of user queries, shows a hike of 3.36% in average premiums this quarter—joining the long-term upward trend.
The report reveals a 47.75% cumulative increase in premiums since Q4 2020, signaling insurers’ response to mortality-linked risks and underwriting realignments in the post-pandemic era.
"This index has become a barometer for term insurance pricing in India. It’s not just about premium hikes or drops—it reflects how Indian families are thinking about protection," said Bijendra Singh, Head of sales at PolicyX.com. "From smokers paying nearly double to younger buyers locking in lower premiums, these patterns reveal where the market is heading."

Key Insights from the Term Insurance Price Index Q1 2025:
Premium Trend: Average term insurance premiums rose this quarter, continuing the upward trajectory seen over the past few years.

Gender Disparity: Male policyholders continue to pay about 20.12% higher premiums than female buyers for the same age and coverage.

Smoker Penalty: A 25-year-old smoker pays 67% more than a non-smoker, showcasing the cost of health risks in insurance underwriting.

The Cost of Delay: A decade’s delay in policy purchase can push premiums up by as much as 82.92%.

Changing Buyer Behavior
"We’ve seen a visible shift in how customers, especially millennials and first-time buyers, approach term insurance today," noted Pushkar Kumar, Sales Team Lead at PolicyX.com. "More buyers are locking in coverage early and opting for larger sum assured amounts—showing rising awareness of financial security post-COVID."

India’s Only Crowdsourced Insurance Research Index
PolicyX.com remains the only Indian platform to track and publish transparent term insurance pricing trends. The platform’s Term Insurance Price Index is powered by real-time application data, insurer quotes, and buyer demographics.
"Our mission at PolicyX.com has always been to simplify insurance through transparency and technology," said Naval Goel, Founder and CEO of PolicyX.com. "This index is another step in helping Indian families make smarter, more informed insurance decisions. As pricing continues to evolve, we want our users to have access to reliable, unbiased insights."

About PolicyX.com
PolicyX.com is a trusted IRDAI-approved insurance comparison platform helping users find the right insurance with ease. Its key strength lies in real-time quote comparison, unbiased advice, and smart tools that simplify complex choices. With over 40 insurers onboard and millions of users served, PolicyX.com stands out for combining data-driven insights with expert support—making insurance buying transparent and hassle-free.

Naval Goel
PolicyX.com
+91 99712 66338
naval.goel@policyx.com
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