Insurance

Updated : Jan 31, 2026

Budget 2026 expectations: Insurance industry seeks tax deductions, ITC fix, new-regime parity

Union Budget: Industry leaders contend that a more neutral and comprehensive tax framework could significantly lift insurance adoption by encouraging households to prioritise protection alongside savings. Extending tax incentives to the new regime, they argue, would remove distortions between annuity, pension and other long-term financial products, allowing consumers to make choices based on need rather than tax arbitrage.

Rising out-of-pocket healthcare costs are straining Indian households, strengthening the case for an employer–employee health insurance framework aligned with a changing workforce.

Updated : Jan 30, 2026

Budget 2026: Insurance sector looks to policy clarity, digital push to deepen coverage

As the Union Budget 2026 approaches, the insurance sector is looking for policy clarity to convert recent legislative reforms into wider coverage and deeper penetration. Industry stakeholders believe targeted Budget measures can strengthen risk protection, financial inclusion and economic resilience.

Subscribers will be allowed to make partial withdrawals to cover medical expenses, subject to a limit of 25 per cent of their own contributions.

Updated : Jan 27, 2026

NPS Swasthya Pension Scheme: PFRDA launches scheme on pilot basis under regulatory sandbox

The NPS Swasthya Pension Scheme has been structured as a contributory pension product focused on meeting outpatient and inpatient medical expenses. It will function as a sector-specific scheme under the Multiple Scheme Framework (MSF) and will be offered voluntarily to Indian citizens.

SBI Research has recommended key reforms on tax incentives, claims settlement reforms and stronger risk management to support long-term growth.

Updated : Jan 27, 2026

Budget 2026: SBI Research seeks tax breaks, reforms to boost insurance penetration

One of its key proposals is the introduction of a separate tax deduction for term life and health insurance, on the lines of the additional deduction available for the National Pension System.

Experts said the insurance industry is at an inflection point following last year’s reforms, including the GST exemption on health insurance policies and stricter time-bound cashless claim norms.

Updated : Jan 23, 2026

Budget 2026: Life and general insurers pitch reforms to deepen coverage, boost affordability

As the Union Budget 2026 draws closer, life and general insurers are calling for targeted fiscal and structural reforms to make insurance more affordable and accessible. Industry leaders say tax parity, digital infrastructure and climate-risk frameworks are essential to deepen coverage and accelerate progress toward the goal of Insurance for All by 2047. The sector is looking to the Budget to convert recent reforms into measurable gains in penetration and protection.

Regulatory authorities have consistently highlighted mis-selling as a persistent concern in the life insurance sector.

Updated : Jan 20, 2026

Early exits overtake maturity payouts as mis-selling concerns rise in life insurance sector, shows RBI data

According to the RBI’s Financial Stability Report 2025, overall life insurance payouts have expanded substantially, rising from about Rs 4 lakh crore in 2020–21 to Rs 6.3 lakh crore in 2024–25.

Government-led reforms of the dominant public sector insurance segment are expected to play a critical role in shaping pricing and profitability trends.

Updated : Jan 19, 2026

Robust economic growth, digitisation to drive India's insurance premium expansion: Moody’s

Moody’s also highlighted the positive impact of the Goods and Services Tax (GST) exemption on individual life and health insurance policies, which is expected to make products more affordable, boost demand and improve insurance penetration.

Budget 2026, insurance sector reforms, insurance tax relief, Section 80D deduction

Updated : Jan 13, 2026

Union Budget 2026: Insurance industry calls for tax breaks, reforms to reach 'Insurance for All'

With Budget 2026 around the corner, the insurance industry is urging the government to move past incremental changes and push deeper reforms. From tax relief to digital infrastructure and preventive care, the industry says decisive action is needed to widen coverage and close protection gaps.

Protection Plus offers premium terms of 5, 7, 10 or 15 years for policy periods of 10–25 years, while Bima Kavach provides similar flexibility with single, regular and limited payment options.

Updated : Jan 6, 2026

Bima Kavach and Protection Plus: LIC rolls out to offer enhanced cover and payment flexibility

Protection Plus is designed as a unit-linked life insurance plan that combines insurance cover with investment opportunities. In contrast, Bima Kavach focuses entirely on risk protection. It is a non-linked, non-participating individual life insurance plan.

The report shows rising claims for heart disease, respiratory disorders, cancer and arthritis, reflecting sedentary lifestyles, stress, poor diets and an ageing population.

Updated : Dec 30, 2025

Rising dengue and lifestyle diseases push Indians toward higher health insurance cover, shows report

The report highlights a surge in claims linked to vector-borne and respiratory illnesses, reflecting changing weather patterns, urban density and greater exposure risks. Dengue and malaria continue to feature prominently during peak seasons, while common flu and respiratory infections are becoming more frequent across age groups.

Insurers cover wedding cancellation or postponement due to venue damage, vendor failure, disasters, or family emergencies.

Updated : Dec 27, 2025

Your daughter’s big day: Why wedding insurance deserves a look amid rising costs, risks

A sudden medical emergency, extreme weather, a venue issue or a vendor backing out at the last minute can derail months of planning and leave families staring at losses that are hard to recover. Here comes wedding insurance.

Buying health insurance early helps you enter at a low-risk stage, making it easier to get comprehensive cover without exclusions.

Updated : Dec 26, 2025

Health insurance: Do I really need a separate health cover at 18 if I’m covered under my parents’ policy?

Most family health insurance policies allow dependent children to remain covered until the age of 25 or until they become financially independent, whichever comes earlier. Staying on your parents’ plan during this phase is a sensible and cost-effective option, as it ensures uninterrupted coverage while you focus on your studies and early career goals.

The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, had earlier received approval from the Union Cabinet.

Updated : Dec 17, 2025

Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill passed in Parliament; key details here

The higher FDI cap is expected to expand insurance coverage, bring down premiums and create more jobs. The amendment will also encourage greater participation by foreign insurers in the Indian market, Finance Minister Nirmala Sitharaman said.

Sabka Bima Sabki Raksha Bill 2025 main proposal is to elevate the foreign direct investment (FDI) limit in insurance companies from 74% to 100%, enabling full foreign ownership.

Updated : Dec 16, 2025

Sabka Bima Sabki Raksha Bill 2025: Finance Minister Sitharaman tables landmark insurance reforms in Lok Sabha

The reform, first unveiled in Sitharaman's Union Budget speech earlier this year, stems from the government's drive for next-generation financial sector liberalisation. The Union Cabinet approved the bill last Friday, building on the Rs 82,000 crore in FDI already infused into the sector.

At present, foreign direct investment in the insurance sector is capped at 74% and the government hopes that enhancing the cap would enable insurance companies to expand their operations in India.

Updated : Dec 12, 2025

Cabinet clears Insurance Amendment Bill, may be introduced in Parliament on Monday

The Bill seeks to raise FDI in insurance to 100%, listed to be introduced in Winter Session

The Bill is part of the government’s broader goal of achieving “Insurance for All by 2047”.

Updated : Dec 12, 2025

Union Cabinet approves Insurance Amendment Bill; details to be disclosed shortly

The proposed legislation seeks to amend three core acts — the Insurance Act, the LIC Act and the IRDAI Act — to unlock new avenues for capital infusion, simplify licensing and entry norms, and tighten governance and oversight across the industry.

Updated : Dec 9, 2025

Investor query: Can tracking your health parameters really cut your insurance premiums?

Several leading insurers, including Aditya Birla Health, Niva Bupa, Care Health, Star Health and ICICI Lombard, offer very compelling wellness propositions.

With these two launches, LIC aims to serve both customers seeking market-linked savings and those wanting strong, guaranteed protection.

Updated : Dec 4, 2025

LIC introduces Protection Plus and Bima Kavach plans, outlining minimum sum assured and entry age details

While Protection Plus blends life cover with market-linked savings, Bima Kavach is designed as a pure protection plan offering a guaranteed death benefit.

With 100% FDI, full foreign ownership is expected to inject critical capital to expand coverage, upgrade services and help lift India’s insurance penetration from 3.7% toward global levels.

Updated : Dec 2, 2025

Insurance Laws (Amendment) Bill: Centre to bring in 100% FDI, composite licences in biggest sector overhaul in years

FM Nirmala Sitharaman on February 1 announced raising FDI in insurance from 74% to 100%, opening the door to global insurers and larger foreign capital flows. The move—requiring amendments to key insurance laws—will be placed before Parliament soon to drive greater competition and efficiency.

The insurer said its growth has been supported by a range of offerings across protection, savings, unit-linked and annuity products, along with a focus on asset allocation and risk management.

Updated : Nov 25, 2025

Kotak Life Insurance's AUM crosses Rs 1 lakh crore

Kotak Life Insurance's AUM crosses ₹1 lakh crore, growing at 19% CAGR since March 2010.

Experts say the ideal cover of term insurance depends on your age, income, liabilities, dependents and overall financial goals.

Updated : Nov 20, 2025

Should DINK couples buy term insurance, invest in NPS under new tax regime rules without old regime breaks?

Manju Dhake, Head – Insurance Advisory Practice at 1 Finance, says term insurance remains essential for dual-income couples because it protects future goals, not just current earnings. She adds that NPS continues to be a strong retirement tool even under the new tax regime, especially for long-term wealth building.