In financial year 2021, the Life Insurance Corporation (LIC) of India spent 221 billion Indian rupees on commissions. Thereby, the commissions for renewable premiums and new business premiums are on the same level. Private sector companies spent 108 billion Indian rupees on commissions over the same period. Here, the expenses for new business commissions were much higher than for renewal.
Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees)
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IRDA (India). (December 23, 2021). Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees) [Graph]. In Statista. Retrieved April 20, 2024, from https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/
IRDA (India). "Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees)." Chart. December 23, 2021. Statista. Accessed April 20, 2024. https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/
IRDA (India). (2021). Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees). Statista. Statista Inc.. Accessed: April 20, 2024. https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/
IRDA (India). "Value of Life Insurers' Commission Expenses in India in Financial Year 2021, by Type (in Billion Indian Rupees)." Statista, Statista Inc., 23 Dec 2021, https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/
IRDA (India), Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees) Statista, https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/ (last visited April 20, 2024)
Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees) [Graph], IRDA (India), December 23, 2021. [Online]. Available: https://www.statista.com/statistics/655893/life-insurers-commission-expenses-india/