Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

HDFC Life Insurance - the second largest life insurer in the country - has increased their term life insurance premiums by about 5 per cent for Rs 50 lakhs and above, as per distributors

A mixed trend is emerging in the life insurance sector ahead of the end of the financial year 2024-2025 (FY25), with some major players reducing premiums on their term products to drive sales, while others are increasing them to protect margins and remain competitive in the market, industry insiders have said.

 

HDFC Life Insurance – the second largest life insurer in the country – has increased its term life insurance premiums by about 5 per cent for sums insured of ~50 lakhs and above, according to distributors. Term business accounts for almost 6 per cent of the insurer’s business as