As Gen Zs flock to term plans, Kapil Sharma extols their value again for Policybazaar

Call it premonition or not, but Policybazaar’s new advertisement for term policies featuring Kapil Sharma was released just as a report revealed that Gen Z is more inclined towards term life insurance than any other insurance plans.

According to a new study by Tata AIA Life Insurance in collaboration with NielsenIQ, titled New Age Habits, Traditional Values, Gen Z is opting for term plans due to their simplicity, affordability, and long-term security, as reported by Business Standard.

The study surveyed working Gen Z individuals aged 21 to 28 years and also found that 57% of Gen Z intenders are willing to invest over Rs 2,000 per month, showing a stronger intent than current policyholders in this age group.

A 38-second advertisement from Policybazaar shows Kapil Sharma dressed as a blend of Gandalf from The Lord of the Rings and a Chinese overlord from the 1980s and 1990s. He is attempting to reap the soul of a recently deceased individual who is desperately trying not to leave the mortal realm because he is worried about his family's future.

That concern stems from fear and regret, which is exactly why Sharma urges viewers to invest in a term life plan now rather than live with the consequences of not having one.

Sharma first joined Policybazaar as a brand ambassador in 2015, when the company leveraged his popular "Baba ji ka thullu" catchphrase to encourage customers to compare policies before purchasing. He returned to the brand in 2023 for a new series of advertisements.

Over the years, the brand has released numerous advertisements highlighting the importance of term life insurance. In addition to Kapil Sharma, actor Akshay Kumar has also promoted the value of term plans for Policybazaar.

While the advertisements are designed with humour in mind, a few released less than 12 months ago focused on the emotional pain family members experience when the main breadwinner passes away without having invested in a term life plan.