Insurance Premium

Industry NBP rose 5.15 per cent year-on-year in May, with weak growth in group insurance premiums weighing on both LIC and private-sector life insurers

Gross premiums underwritten by IFSC Insurance Offices in GIFT City rose fourfold in FY26, driven by rapid expansion in reinsurance business and a doubling of insurance entities

With healthcare costs rising steadily, opting for a deductible can help senior citizens reduce health insurance premiums while retaining protection against major medical emergencies

Gross direct premium underwritten by non-life insurers rose 8.28 per cent in April, supported by strong growth in health and general insurance segments

Health insurance premiums tend to rise rapidly at older age

Both life and non-life insurers reported strong January premium growth, supported by a favourable base effect and the GST exemption on individual life and health insurance premiums

Here is a selected list of the best term insurance rates from various insurers for young male professionals living in a large city

Campaign running from January 1 to March 2, 2026, allows revival of lapsed individual policies with concessions on late fees, aimed at restoring insurance cover for policyholders

Life insurers have formed committee to discuss the capping of distributor commission

Check out the term insurance rates from various insurers for young male professionals living in a large city

Nil GST on premiums, favourable base effect key drivers

Industry leaders emphasise the need for dynamic, data-focused models and protection for new infrastructure, like EV charging stations

Niva Bupa expects a modest 50-60 basis point hit from GST-related ITC loss but aims to offset it through higher policy sales, revised distributor commissions, and cost efficiencies

HDFC Life sees 50% surge in retail term sales after GST cut; CEO Vibha Padalkar outlines margin recovery, product mix shift, and strategies to offset ITC impact

Nil-rated vs exempt GST status will decide if savings reach you, or if premiums quietly climb instead

New business premiums of life insurers fell 5.2% YoY in August to Rs 30,959 crore as LIC posted a sharp decline, while private insurers recorded double-digit growth

Indian life insurers registered a 6.01 per cent growth in new business premiums (NBPs) in August 2025, driven by higher sales of both single and non-single premium policies, a release said on Tuesday. NBPs increased to Rs 1,63,461.52 crore in August this year, compared to Rs 1,54,193.76 crore in the corresponding period last year, according to data released by the Life Insurance Council. Individual single premiums grew 9.71 per cent, while individual non-single premiums rose 4.51 per cent during the period. Combined individual premium collections posted a 6.20-per cent growth on a YTD basis, it showed. The council said the growth was supported by insurers' focus on expanding coverage among first-time buyers and strengthening distribution. Life insurers added more than 4.37 lakh individual agents, though cumulative agent count registered a modest 2.75 per cent growth, due to attrition, the release said. Agent addition along with the rapid pace of digitisation is expected to further

Innovation, digital ease driving the shift, say insurers

The Centre has proposed exempting life and health insurance premium from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST. The Group of Ministers (GoM) on life and health insurance will submit its report to the GST Council. The report will also include views and concerns expressed by some state finance ministers, he said. "The Centre's proposal is clear that the insurance sector's individual and family (policies) should be exempt from GST. This has been discussed and the GoM report will be presented to the Council," Choudhary told reporters here after the meeting of the GoM. "All members have given their approval for lowering rates. Some states have given their own views," he said, adding a final call on rates will be taken by the Council. Choudhary is the convenor of the 13-member state GoM on health and life insurance. The Centre's proposal on insurance is par

Centre mulls lowering GST on small cars to 18 per cent and slashing levies on health and life insurance