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    • Non-life Insurance industry grows 21% y-o-y

      The non-life insurance sector reported a growth of 21% y-o-y for the month of June as general insurance companies saw a surge in their premiums.

      The general insurance sector saw a surge in premiums as they grew 23% to end at more than Rs.54,000 crores for the quarter ending in June.

      ICICI Lombard was the biggest profit maker as they saw their premiums grow 54% in June while HDFC Ergo, Reliance General, and Bajaj Allianz saw their premiums rise by 24.5%, 21%, and 13% respectively. TATA AIG saw their premiums rise by 35% for the month of June.

      For state-owned insurers, United India Insurance and Oriental Insurance experienced a profitable month, while New India Assurance did not experience high growth during the period.

      11 July 2022

    • New business premiums of life insurance increase by 4.1% in June

      The life insurance market recorded a meagre 4.15% increase in new business premiums in June, owing mostly to a decrease in Life Insurance Corporation (LIC) premiums. However, life insurers' new business premiums (NBP) increased by 40% year on year in the April-June quarter (Q1FY23), owing to a lower base. New business premiums of life insurance increased by 4.1% to Rs.31,254.55 crore in June compared to the same period last year.

      While private insurers' NBP increased by 29% to Rs.10,610.89 crore, LIC's NBP decreased by 5.29% to Rs.20,643.67 crore, according to figures from the insurance regulator.

      11 July 2022

    • IRDAI sets premium target for non-life insurance industry

      The Insurance Regulatory and Development Authority of India (IRDAI) is now focusing on the role of market development. The Authority has been acting in a regulatory capacity for all these years.

      6 July 2022

    • All employees will get Life Insurance of Rs.7 lakhs

      The Employees’ Provident Fund Organization (EPFO) asked its members to submit nominations as soon as possible. The organization is offering a life insurance benefit to salaried persons of Rs.7 lakhs which is completely free. If an employee passes away, his or her immediate family members will receive the benefit.

      29 June 2022

    • Life insurers can launch products without IRDAI approval

      On Friday, the 'use and file' procedure for most life insurance products was extended by the Insurance Regulatory and Development Authority of India (IRDAI). This allows the insurers to introduce new products without the regulator's prior approval. The extension will also facilitate easier business for insurers thereby expanding the options for policyholders.

      13 June 2022

    • IRDAI to let life insurers sell health insurance

      The Insurance Regulatory and Development Authority (IRDAI) committee is expected to recommend that life insurers be allowed to sell health insurance. The committee will seek approval for the distribution and production of health insurance. At present, life insurance providers only sell fixed benefit health plans, not indemnity packages.

      25 May 2022

    • Life Insurer’s new business premium grows 2%

      After a quiet showing in December and January, life insurance companies in India showed that they are working towards growing the business as the new business premium (NBP) rose by 2%. Due to the impact of Covid-10 the overall businesses of the life insurance companies had taken a dip.

      Life Insurance companies saw their NBP grow 22.47% year-on-year (YoY) to Rs.27,464.76 crore in February while LIC saw its NBP rise by 35.36% to Rs.17,849.34 crore.

      14 March 2022

    • Life Insurance sectors reports 22% premiums growth

      Life Insurance Corporation of India (LIC) led Life insurance industry has reported a 22% growth in the premiums in February. Premiums for LIC increased by 35% a year, while HDFC Life premiums increased by 9% a year. Premiums for ICICI Prudential Life and Max Life, on the other hand, fell by 23% and 5%, respectively.

      10 March 2022

    • Government allows up to 20% foreign investment in LIC

      On Saturday, the Union Cabinet passed an amendment to allow up to 20% foreign investment in the state-owned Life Insurance Corporation. This comes ahead of the LIC IPO, which is expected to be the biggest in Indian capital markets so far.

      1 March 2022

    • You can now get Rs.20 lakh when you invest Rs.262 every day

      The Life Insurance Corporation of India (LIC) is now offering all policyholders a lot of programs that are financially secured. Investors As an investor, who wants to safeguard your future, you can look into the LIC Jeevan Labh Policy. When you choose the LIC Jeevan Labh Policy for an assured sum of Rs.20 lakh a monthly premium of Rs.7,916 each month, or Rs.262 per day, can be paid for a 16-year investment period.

      15 February 2022

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    Customer Reviews

    • LIC
      "Best policy "
      0.5 5.0/5 "Blown Away!"
      LIC has offered a Jeevan Anand policy and i have taken for 5 year before. I am paying premium of Rs. 15,000 on quarterly basis which is sufficient. While getting a policy the agent has given me a clear policy details and their service was good and it has a good policy coverage.
      Was this review helpful? 11
      , bangalore
      Reviewed on Mar 20, 2020
    • LIC
      LIC
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      On one year back, I have taken life insurance from LIC. Since the agent has recommended with all good benefits so I preferred this policy to apply. I have received the hard copy on time. The tenure period of 15 years 2021 getting maturity and i am paying premium on quartely 40,000 which am paying to the agent. It covers up to myself with the sum assured of 7.5L.
      Was this review helpful? 2
      , tirupur
      Reviewed on Mar 20, 2020
    • Max
      "Good insurer"
      0.5 3.0/5 "Satisfactory"
      I taken a life insurance in MAX LIFE on 6 months back. It covers up to myself with tenure period of 35 years. To pay the premium amount there is additional criteria like accidental and for an emergency purpose can do claim at any time, so total amount need to pay of 18K on yearly. They have tied up with many hospitals.
      Was this review helpful? 3
      , bangalore
      Reviewed on Mar 20, 2020
    • LIC
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance policy of Jeevan Bhima for the tenure of 15 years .The premium is paid through yearly basis and premium is paid by myself through lic office only.This policy is stil active and the policy features and benefits was clealry shared by the agent .
      Was this review helpful? 1
      , indore
      Reviewed on Mar 20, 2020
    • Bharti Axa Life
      "Good service "
      0.5 4.0/5 "Great!"
      On 5 months before taken a life insurance from BHARTI-AXA. The tenure period of 15 years plus 5 years of maturity. My friend has suggested this policy to apply and I received the hard copy on time. The premium amount of 21K need to pay on yearly. The coverage amount of 10L if an emergency or accidental happen other 10Lis applicable. The charge is high when compared to other.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 19, 2020
    • LIC
      "Good "
      0.5 4.5/5 "Excellent!"
      I have taken a life insurance in LIC on 6 years before. The policy of tenure period of 20 years. I am paying premium on half yearly package the amount of 8K which is nominal. While getting a policy my agent has given an information about the policy details. It covers up to myself.
      Was this review helpful? 0
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Secured policy"
      0.5 4.5/5 "Excellent!"
      I got Money Back policy from LIC. It was taken on 14 years back. The tenure period of 20 years. The premium amount need to pay on half yearly basis of 2,480 rupees. Evey 5 years I get good returns from their end. So far I have not faced any charge. I use to remainder and update from my agency.
      Was this review helpful? 3
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Good"
      0.5 4.5/5 "Excellent!"
      I took a life insurance for myself only from LIC. The policy of Jeevan Mithra which I need to pay of 10K on quarterly basis. I took this policy on 15 years back, when I was a student took this insurance so all the details got from their end on time. Only for investment taken this policy.
      Was this review helpful? 0
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Good service"
      0.5 4.5/5 "Excellent!"
      LIC has offered a life insurance for my children. It covers my kids only. It was taken on 2015 which is good policy. The tenure period of 20 years. Agent has given all the details about the policy and also provided hard copy documents on time. The premium amount to pay of around 3K.
      Was this review helpful? 2
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Good policy "
      0.5 4.5/5 "Excellent!"
      For my spouse I taken a life insurance policy from LIC on 3 years back. It covers only for her. The tenure period will be 20 years. I use to pay the premium amount of 20K per annum. Since somebody suggested about this policy so I opted for it. The policy is Jeeven Anandh.
      Was this review helpful? 2
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Good insurer"
      0.5 4.5/5 "Excellent!"
      I taken a life insurance from LIC on 7-8 years back. They have given the policy of Jeevan Anandh which was covered only for myself. The premium amount which I need to pay of 6K around. The agent has given all the details about this policy. So far I have not faced any charge. To pay the amount I visit branch directly. The tenure period of 20 years.
      Was this review helpful? 3
      , darbhanga
      Reviewed on Mar 19, 2020
    • LIC
      "Good insurer"
      0.5 5.0/5 "Blown Away!"
      I got a money back policy from LIC hence taken on 12 years back. I am paying premium on quarterly package the amount of 6K which is nominal. While getting a policy the agent has given an information about all details and received the hard copy documents on time. It covers up to myself only.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Mar 18, 2020
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