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Bima Vistaar, an insurance product covering life, health and property for rural people, is likely to be launched by December 2025, an industry organisation said on Wednesday. Life Insurance Council's Insurance Awareness Committee (IAC-Life) chairperson Kamlesh Rao said the products meant for rural India will be sold by all insurance companies at a uniform price with Rs 5 lakh cover per individual. The council has all 26 life insurance companies, including Life Insurance Corporation (LIC), as its members. Rao said that the product will be launched to increase the penetration of insurance in the rural belts of the country. "Penetration is lower in rural India. Bima Vistaar will be launched, targeting an increase in the insurance penetration in rural India," he said. Talking of the life insurance industry in the country, Rao said total assets under management (AUM) of all the insurers had touched Rs 67 lakh crore during the 2024-25 financial year, while the total premium collected ha