Overview

• The Insurance Awareness Committee, representing 27 life insurers, structured contributions based on each member’s annualised premium equivalents.
• Life insurance penetration has fallen from 4% of GDP in fiscal 2023 to 3.2% in fiscal 2025 amid a protection gap affecting only 36 crore of India’s 140 crore population.
• The three-year 'Sabse Pehle Life Insurance' drive will deploy multimedia outreach to shift consumer behaviour and improve enrolment.
• The campaign’s first phase will specially promote term, child and savings plans to address inadequate coverage levels.
• IRDAI is exploring complementary regulatory measures to support the industry’s push toward universal insurance goals by 2047.