Insurance Is Both Protection and Power: Experts Urge Students to Secure Their Future
Bengaluru, 26 February: At a time when young Indians are stepping into an increasingly uncertain economic landscape, experts at a one-day national seminar in Bengaluru called upon students to treat insurance not merely as a financial product but as a pillar of security, savings and self-reliance. The seminar, titled “Insurance: A Tool for Savings or Protection?”, was organised by the Bangalore Insurance Institute in association with Abbas Khan College for Women at the college auditorium on OTC Road.
The event brought together industry professionals, academicians and students to discuss the growing relevance of insurance in personal life, career planning and the national economy.
Guiding Gen Z Towards Financial Confidence
Delivering the keynote address, Attar Syed Murtaza Hussain, General Secretary of CMA Karnataka, underlined the importance of awareness and responsibility. “Education is not only about academics. It must touch both the mind and the heart,” he said, adding that seminars like these bridge the gap between textbook knowledge and real-life preparedness.
Using a simple but powerful parable about tying one’s camel before trusting in divine care, he explained that faith must go hand in hand with responsibility. “Insurance is about securing the life and health that God has blessed us with. We must first take care of what we have,” he said.
He highlighted the benefits of Employee State Insurance, noting its expanding network of hospitals in Bengaluru and its crucial role in covering medical expenses. Addressing misconceptions, he clarified that life insurance for security purposes is permissible and essential in today’s world. “Health insurance is not a luxury. In many countries, hospital admission is not possible without it. We must be prepared,” he stressed.
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Insurance as a Career and Growth Sector
K V Prasad, Insurance Surveyor and Loss Assessor, focused on the need to guide Gen Z students in navigating a rapidly evolving global insurance market. “Many young people are confident but unsure about the path ahead. The opportunities already exist. What they need is direction,” he said.
He explained that the insurance market is becoming increasingly individual-focused and globally connected. According to him, building a financial corpus early in life is key to long-term independence. “Seminars like this prepare students not just for jobs, but for self-reliance,” he remarked.
N Manjunath, retired Branch Manager of LIC of India, highlighted the immense career opportunities in the insurance sector. He pointed out that India’s insurance industry is growing alongside the country’s broader economic expansion. “Knowledge is the ladder in this field,” he said, encouraging students to pursue certifications from the Insurance Institute of India such as Licentiate, Associate and Fellowship programmes.
He noted that qualified professionals can secure well-paying positions, including Assistant Administrative Officers, with promising starting salaries. “The insurance industry rewards competence and commitment,” he added.
Insurance and the National Economy
C V Kumar, Voting Council Member of the Insurance Institute of India, broadened the discussion by examining the sector’s contribution to the national economy. He explained that insurance functions both as protection and as a savings mechanism, depending on the product chosen.
“Graduates can enter the industry as agents, surveyors, actuaries, underwriters, brokers, administrators or claim managers. The scope is vast and expanding,” he said, urging students to acquire professional qualifications to tap into this growth.
Priya, another speaker, emphasised the basic need for every individual to have at least minimum health and life insurance coverage. She observed that a large section of the population still lacks awareness beyond compulsory vehicle insurance. “Insurance is not just an expense. It is a tool for financial security and disciplined saving,” she said.
A Message of Responsibility and Hope
The seminar concluded with a valedictory address by Prof. Dr. M S Vidya, Principal of Abbas Khan College for Women, who appreciated the collaborative effort in bringing industry insights to students.
The overarching message of the day was clear: insurance is not merely about policies and premiums. It is about foresight, responsibility and empowerment. As speakers repeatedly reminded the audience, securing one’s future begins with informed choices today.
