Cost Of Insurance Has Come Down, Says Axis Max Life Insurance MD

"The cost of insurance has come down. The cost of a simple term is around 700-800 pm and the cover is from Rs 1 crore. There is a lot of work that the government has done around it. The campaigns around awareness and focus on rural areas are making it a pull product. Technology is not only making things faster but also easier. The finance industry has been the biggest beneficiary of Aadhaar. AI is leading towards a reduction in the price. The reduction in GST has also contributed to it," Axis Max Life Insurance MD & CEO Sumit Madan said.