In financial year 2021, the life insurance density in India amounted to about 59 U.S. dollars, while the non-life insurance density was at 19 U.S. dollars. Insurance density is measured as insurance premium (in U.S. dollars) to total population.
Similar to the insurance penetration in India, the density also surged until fiscal year 2010, after which it saw a gradual decline. The numbers inched back up around fiscal year 2017 indicating a resurgence in the country's insurance density.
Density of life and non-life insurance across India from financial year 2002 to 2021
(premium per capita in U.S dollars)
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IRDA (India). (December 23, 2021). Density of life and non-life insurance across India from financial year 2002 to 2021 (premium per capita in U.S dollars) [Graph]. In Statista. Retrieved August 10, 2022, from https://www.statista.com/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). "Density of life and non-life insurance across India from financial year 2002 to 2021 (premium per capita in U.S dollars)." Chart. December 23, 2021. Statista. Accessed August 10, 2022. https://www.statista.com/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). (2021). Density of life and non-life insurance across India from financial year 2002 to 2021 (premium per capita in U.S dollars). Statista. Statista Inc.. Accessed: August 10, 2022. https://www.statista.com/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India). "Density of Life and Non-life Insurance across India from Financial Year 2002 to 2021 (Premium per Capita in U.S Dollars)." Statista, Statista Inc., 23 Dec 2021, https://www.statista.com/statistics/655408/life-and-non-life-insurance-density-india/
IRDA (India), Density of life and non-life insurance across India from financial year 2002 to 2021 (premium per capita in U.S dollars) Statista, https://www.statista.com/statistics/655408/life-and-non-life-insurance-density-india/ (last visited August 10, 2022)