In financial year 2022, the Life Insurance Corporation (LIC) of India issued over 21 million new individual policies. In comparison, private insurers issued around seven million policies. Overall, there were about 29 million new individual policies issued across the country that year.
Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions)
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Other statistics that may interest you Life insurance in India
Overview
5
- Premium Statistic Life and nonlife direct premium writing countries globally 2022, by value of premiums
- Premium Statistic Penetration of life and non-life insurance in India FY 2002-2022
- Premium Statistic Density of life and non-life insurance in India FY 2002-2022
- Premium Statistic Market share of life insurance industry India FY 2017-2023, by type of insurer
- Premium Statistic Value of total life insurance premiums in India FY 2002-2022
Key indicators
6
- Premium Statistic Total number of premiums for life insurances written in India FY 2016-2021
- Premium Statistic Life insurances premiums written by Indian insurers FY 2016-2022, by premium type
- Premium Statistic New individual life insurance policies in India FY 2017-2022, by sector
- Premium Statistic Solvency ratio of life insurers in India March 2022
- Premium Statistic Life insurance investments India FY 2017-2022, by sector
- Premium Statistic Share of distribution channels in life insurance industry India FY 2017-2022
Market players
5
- Premium Statistic Leading life insurers in India FY 2022, by new business premium
- Premium Statistic Market share of Life Insurance Corporation based on total premium FY 2014-2022
- Premium Statistic Total new business premium market share of SBI Life Insurance from FY 2019-2023
- Premium Statistic Total new business private market share of HDFC Life Insurance FY 2019-2023
- Premium Statistic New business premium received by ICICI Prudential Life Insurance FY 2019-2023
Claims and complaints
4
- Premium Statistic Number of total individual death claims in India FY 2022, by life insurer
- Premium Statistic Individual life insurance claims settlement ratio in India FY 2010-2022
- Premium Statistic Life insurance claims settlement ratio in India FY 2022, by insurer
- Premium Statistic Number of complaints registered against life insurer India FY 2022, by insurer type
Consumer behaviour
6
- Premium Statistic Net promoter score of leading life insurance brands in India 2023
- Premium Statistic Awareness and ownership levels of life insurance in India 2023
- Premium Statistic Preferred purchase channel for life insurance products in India 2023
- Premium Statistic Reasons for considering purchase of life insurance in India 2023
- Premium Statistic Reasons for not purchasing life insurance in India 2023
- Premium Statistic Deterrents to online purchase of life insurance products in India 2023
Inclusivity and emerging trends
6
- Premium Statistic Financial inclusion index of India FY 2017-2023
- Premium Statistic Enrollments under PMJJBY scheme in India FY 2016-2023
- Premium Statistic Contribution to fintech ecosystem in India 2022, by category
- Premium Statistic Number of insurtechs in India 2022, by equity funding stage
- Premium Statistic Value of equity funding in insturtech India 2016-2021
- Premium Statistic Leading insurtech startups in India 2021-2022, by funding
Further related statistics
17
- Non-life insurance policies issued in India FY 2015-2021, by sector
- Meiji Yasuda Life Insurance's amount of group life insurance in force FY 2015-2022
- Life insurance offices in India FY 2008-2021, by sector
- Commission expenses among lndian life insurers FY 2021, by type
- Number of insurances for persons and fund accumulation policies in UAE by type 2018
- Value of gross non-life insurance premiums by Indian private insurers FY 2002-2021
- Number of insurances for property & liability insurance policies in UAE by type 2018
- Life insurance offices in India FY 2019, by region
- Life insurance offices in India FY 2021, by tier
- Annuity reserves of life insurers in the U.S. 1980-2016
- Life Insurance Corporation of India's total life insurance premium value FY 2002-2021
- Share of new insurance policies issued in India FY 2019 by channel
- Aditya Birla Sun Life Insurance's total life insurance premium value FY 2002-2021
- ICICI Prudential Life Insurance's total life insurance premium value FY 2002-2021
- Kotak Mahindra Life Insurance Company's total life insurance premium value FY 2002-21
- Cities with lowest growth in private sector jobs United Kingdom (UK) 2016-2017
- Private sector investment in infrastructure Malaysia 2005-2016
Further Content: You might find this interesting as well
Statistics
- Non-life insurance policies issued in India FY 2015-2021, by sector
- Meiji Yasuda Life Insurance's amount of group life insurance in force FY 2015-2022
- Life insurance offices in India FY 2008-2021, by sector
- Commission expenses among lndian life insurers FY 2021, by type
- Number of insurances for persons and fund accumulation policies in UAE by type 2018
- Value of gross non-life insurance premiums by Indian private insurers FY 2002-2021
- Number of insurances for property & liability insurance policies in UAE by type 2018
- Life insurance offices in India FY 2019, by region
- Life insurance offices in India FY 2021, by tier
- Annuity reserves of life insurers in the U.S. 1980-2016
- Life Insurance Corporation of India's total life insurance premium value FY 2002-2021
- Share of new insurance policies issued in India FY 2019 by channel
- Aditya Birla Sun Life Insurance's total life insurance premium value FY 2002-2021
- ICICI Prudential Life Insurance's total life insurance premium value FY 2002-2021
- Kotak Mahindra Life Insurance Company's total life insurance premium value FY 2002-21
- Cities with lowest growth in private sector jobs United Kingdom (UK) 2016-2017
- Private sector investment in infrastructure Malaysia 2005-2016
IRDA (India). (December 23, 2022). Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions) [Graph]. In Statista. Retrieved December 11, 2023, from https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/
IRDA (India). "Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions)." Chart. December 23, 2022. Statista. Accessed December 11, 2023. https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/
IRDA (India). (2022). Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions). Statista. Statista Inc.. Accessed: December 11, 2023. https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/
IRDA (India). "Number of New Life Insurance Policies in India from Financial Year 2017 to 2022, Based on Sector (in Millions)." Statista, Statista Inc., 23 Dec 2022, https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/
IRDA (India), Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions) Statista, https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/ (last visited December 11, 2023)
Number of new life insurance policies in India from financial year 2017 to 2022, based on sector (in millions) [Graph], IRDA (India), December 23, 2022. [Online]. Available: https://www.statista.com/statistics/655505/number-of-new-life-insurance-policies-india/