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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
Bringing investment to the rural sector is a key priority for the International Fund for Agricultural Development (IFAD), President Alvaro Lario said, adding that investment in agriculture is two to three times more effective in reducing poverty than in any other sector. In an interview with PTI, Lario stressed on the importance of bringing private capital to the rural sector, and said that globally, investments worth around USD 75 billion is required to adapt to the impact of climate change. Founded in 1977 in response to a global food crisis, IFAD is a specialised United Nations agency and an international financial institution that tackles hunger and poverty in rural communities. "IFAD's priority is to mobilize financing, especially long-term financing for rural areas and especially to have and deliver a long-lasting impact for those who need it most," Lario told PTI. "So for us, finance is a means to an end and we know that investment in agriculture is two to three times more .