First-year premium of Life Insurers down by 26.4% & General Insurers up by 25.77%

The first-year premium of life-insurers decreased 26.4 per cent during the first six months of the present financial year compared to the year-ago period. According to the figures released by the Insurance Regulatory and Development Authority, the first-year premium in the life insurance segment declined to Rs 49,036 crore during April-September. The same was at Rs 62,361 crore in the corresponding period of last year.

General Insurers
The gross premium underwritten in the non-life insurance segment has grown by 25.77 per cent. The total premium underwritten was at Rs 28,604 crore at the end of September 30 while the same was Rs 22,744 crore in the year-ago period.

Life Insurers premiums mostly down due to less sales in ULIPs plans. Now people are aware that term plans are best bet.