Live Insurance News

Life insurance policies are experiencing a lapsing trend

January 1, 2013January 1, 2013 H. Cutner

Insurers in India have been seeing an increase in the number of policies that have been allowed to lapse. Recent data released by the Insurance Regulatory and Development Authority (IRDA) in India has revealed that life insurance companies are experiencing a trend with an increase in policy lapses and forfeitures throughout the last financial year. This information was revealed within the authority’s annual report for the most recent fiscal year. Equally, the Life Insurance Corporation of India (LIC) a public sector insurer, revealed that it had experienced a lapse ratio…

Life insurance more common among Indian consumers than world average

December 3, 2012April 30, 2013

The government of India has announced that the country’s residents have more coverage than the global median. According to the latest data released by the government of India, residents of that country have a larger overall life insurance coverage than the global average in 2010. The Minister of State for Finance Namo Narain Meena made the announcement in a written statement. Within the announcement, Meena said that “Life insurance penetration in India was higher than the world’s average in 2010 and the combined average is higher than Brazil and Russia…