The Pensions and insurance Authority PIA notes that the growth of the long term insurance industry is still slow.
PIA Analyst for pensions Eliya Mvula says people do not appreciate the importance of buying insurance products such as life cover as they have fears of discussing issues to do with their death.
He however says this is set to change as the authority is making efforts to spread information about the importance of long term insurance.
Mr. Mvula adds that people are responding well to General insurance, particularly motor insurance as compared to before it was made Mandatory.
He spoke to Money FM News in an exclusive interview.
