The life insurance industry in India is in crisis. The broad market is shrinking. Life insurance penetration in India was always low, but, worryingly enough, it has been falling even lower for two consecutive years now. New regulations enforced by the insurance regulator from 2010 curbing the scope of the Unit Linked Insurance Plans (ULIPs) are partly responsible for the development.
Graphic by Santosh Kushwaha
Courtesy: Business Today