International Literacy Day (ILD) is celebrated to remind ourselves of the importance of literacy as a matter of dignity and human rights, and to advance the literacy agenda towards a more literate and sustainable society.
In the context of insurance, awareness plays a key role in ensuring policyholders’ protection. Lack of insurance awareness has proved to be one of the hurdles in insurance penetration. To enhance insurance awareness across the nation, IRDA celebrates its formation day as Insurance Awareness Day (19th April).
In the USA, 28th of June is observed as the National Insurance Awareness Day. The main objective of this day is to make people aware about the benefits of investing in insurance.
Generally, policyholders sign the insurance application without reading. They also would have never read the policy document, in effect becoming educated illiterate.
On this ILD, let us combine the spirit of Insurance Awareness Day and National Insurance Day to become educated and literate.