More than half (52%) of the respondents to a survey say that their personal health insurance premiums increased by over 25% in the last 12 months.
In investing for retirement, instruments that offer a regular income after retirement are the most popular among Indians who are investing for retirement, according to the findings of an ICICI Prudential Life Insurance study.
Indians have a realistic approach towards retirement in that while they view retirement positively, they do have a few anxieties about retirement as well, according to an ICICI Prudential Life Insurance study, titled "Is India Prepared for Retirement?".
Around four out of 10 (43%) policyholders in India who lodged medical insurance claims in the past three years faced hurdles in getting their claims paid, according to a survey by LocalCircles, a social media platform for the community, governance and urban daily life.
New-business premium in India's life insurance market in the financial year that commenced on 1 April 2024 (FY2025) is expected to rebound on a comparatively lower base, according to CareEdge, an analytical group offering credit rating, analytics, consulting, and sustainability services.
The median sum insured by companies has risen by 66% to INR500,000 per employee ($5,990) from INR300,000 in the latest survey of employee benefits by Plum, an InsurTech platform company.
The Insurance Regulatory and Development Authority of India (IRDAI) held deliberations with insurance companies on the pricing and other modalities of the all-in-one affordable insurance product, Bima Vistaar.
India's life insurance market posted a 2% increase in total new business premium (NBP) to INR3,780bn ($45.4bn) in the financial year ended 31 March 2024 (FY2024), according to data from the Life Insurance Council.
The Indian government is open to a minority stake sale in General Insurance Corporation of India (GIC Re) and Life Insurance Corporation of India (LIC) in the current financial year which started on 1 April 2024, after assessing investor appetite, reported Reuters.
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from 1 April 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65.