Page 2 - Life Insurance

Insurance GST cut to zero: Save ₹2,700 annually on ₹15,000 premium

Zero GST Impact on Insurance: From October, GST on individual health and life insurance premiums drops from 18% to 0%; insurers weigh impact of lost input tax credit

GST relief aids insurers; HDFC Life, Star Health among winners, says JM Fin

While the market was anticipating a cut in GST rates for term and health policies, analysts at JM Financial said, the exemption on savings-oriented life products came as a positive surprise.

No insurer can ignore bancassurance channel, says India First Life MD

Will have 96 branches & 10,000 agents by year end, says Rushabh Gandhi

LIC presents dividend cheque of ₹7,324 crore to Finance Minister for FY25

Life Insurance Corporation of India (LIC) on Friday said it has paid a dividend cheque of Rs 7,324.34 crore to Finance Minister Nirmala Sitharaman for the 2024-25 financial year. The dividend was approved by LIC in its annual general meeting held on August 26, 2025, the state-owned insurance firm said in a statement. The dividend cheque was presented to the Finance Minister by LIC CEO and MD R Doraiswamy in the presence of Department of Financial Services Secretary M Nagaraju and Joint Secretary Parshant Kumar Goyal, along with senior officials of the insurance company. LIC had an asset base of Rs 56.23 lakh crore as of March 31, 2025. It continues to be the market leader in the Indian Life Insurance market, it added.

Insurers hopeful of reduction in GST on health and life premiums

Insurers hope for a reduction in GST on health and life insurance premiums, following PM Modi's announcement of GST relaxations, aiming to boost insurance penetration and make coverage more affordable

Life insurers' new business premium rises 22% to ₹38,958 cr in July

Driven by LIC's group single premiums and private sector's individual policies, life insurers posted 22.4% YoY NBP growth in July despite a dip in total policy count

How to ensure smooth payout of life insurance claims after a tragedy

Learn who gets the insurance proceeds if the policyholder and the nominee both pass away in an accident

Why is life insurance losing lustre as a savings scheme for India's youth?

As life insurance loses share in households' financial savings, insurers are rushing to create new products, mostly in health insurance, to stay engaged with a younger demographic

Life insurers' new business premium up 13% in May; non-life firms rise 6.3%

Standalone health insurers record nearly 10% Y-o-Y growth at Rs 2,916.75 cr

New business premium of life insurers in May grows around 13%, shows data

Individual business grew 3.35 per cent Y-o-Y to Rs 10,611 crore, while group business expanded by 18.4 per cent Y-o-Y to Rs 19,851.8 crore

Growth, lower valuations to drive gains in LIC stock in near term

The VNB margin expanded 80 basis points Y-o-Y to 17.6 per cent at end FY25. The VNB margin expansion is primarily on account of focus towards the profitable non-par products

Prashant Tripathy to step down as Axis Max Life MD & CEO in September

Axis Max Life CEO Prashant Tripathy to step down by September-end after six years at the helm; board to begin search for successor, subject to regulatory nods

Max Financial Services stock jumps 4%, hits 52-week high post Q4 results

Max Financial Services stock jumped over 4 per cent to hit a 52-week high of ₹1,351 on Wednesday

LIC push lifts life insurers' new business premiums in April, shows data

India's life insurance industry saw an 8.43 per cent rise in new business premium in April, led by LIC's group premium growth, though policy issuances fell over 13 per cent

In nominee vs legal heir who gets the precedence? Court says inheritance

The Allahabad HC has clarified that a nominee on a life insurance policy is not the rightful owner of the payout but a trustee for the legal heirs, challenging common assumptions about insurance claim

Growth in number of life insurance policies sold falls steeply in FY25

The significant decline in the number of policies sold can be attributed to the implementation of new surrender value norms

Pahalgam terror attack: LIC to speed up death claim settlement process

All efforts will be taken to ensure that the claimants are reached out to and claims are settled expeditiously for the affected families

Life insurers' NBP grows 5% in FY25; premium collected shy of Rs 4 trn mark

The premiums of the largest private life insurer - SBI Life Insurance - slipped by 7 per cent Y-o-Y to Rs 35,576.67 crore

ICICI Prudential Life: Moderate valuations, health growth prospects

In FY25, embedded value grew 13 per cent with embedded value operating profit (EVOP) growth at 10 per cent Y-o-Y

Honest, full disclosures key to hassle-free health insurance claims

Customers must disclose habits like smoking and alcohol consumption honestly, regardless of frequency