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    Aditi Bagade
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    Life insurance provides financial protection to beneficiaries if the policyholder dies. It has advantages like tax benefits and can be used as collateral for loans. The main types are term life, whole life, endowment, unit linked, and retirement/child insurance. Premiums, fees, mortality and surrender charges, and administration fees are common charges. India's life insurance penetration rate has increased to 3.2% from 2.15% over the past two decades, though it remains below global averages. Recent news includes falling premium incomes, renewed investor interest in life insurance stocks, and upcoming tax changes for large policies. The future outlook is positive with expected trends in new products, distribution models, claims handling, and regulations.

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    Life insurance provides financial protection to beneficiaries if the policyholder dies. It has advantages like tax benefits and can be used as collateral for loans. The main types are term life, whole life, endowment, unit linked, and retirement/child insurance. Premiums, fees, mortality and surrender charges, and administration fees are common charges. India's life insurance penetration rate has increased to 3.2% from 2.15% over the past two decades, though it remains below global averages. Recent news includes falling premium incomes, renewed investor interest in life insurance stocks, and upcoming tax changes for large policies. The future outlook is positive with expected trends in new products, distribution models, claims handling, and regulations.

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    9 views10 pages

    Life Insurance

    Uploaded by

    Aditi Bagade
    Life insurance provides financial protection to beneficiaries if the policyholder dies. It has advantages like tax benefits and can be used as collateral for loans. The main types are term life, whole life, endowment, unit linked, and retirement/child insurance. Premiums, fees, mortality and surrender charges, and administration fees are common charges. India's life insurance penetration rate has increased to 3.2% from 2.15% over the past two decades, though it remains below global averages. Recent news includes falling premium incomes, renewed investor interest in life insurance stocks, and upcoming tax changes for large policies. The future outlook is positive with expected trends in new products, distribution models, claims handling, and regulations.

    Copyright:

    © All Rights Reserved
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    of 10

    LIFE

    INSURANCE
    CREATED BY ADITI BAGADE
    TABLE OF CONTENT
    • WHAT IS LIFE INSURANCE?

    • ADVANTAGES

    • TYPES OF LIFE INSURANCE

    • TYPES OF CHARGES

    • CURRENT PENETRATION RATE

    • CURRENT NEWS

    • FUTURE OUTLOOK OF INSURANCE


    WHAT IS LIFE INSURANCE
    • Contract between an Individual and an insurance company

    • Provides financial protection to the policyholder’s beneficiaries in the


    event of policyholder’s death.

    • Life insurance proceeds are generally tax-free to the beneficiaries.


    LIFE COVER AGAINST

    ADVANTAGES UNCERTAINITY

    TAX
    BENEFITS

    LOAN AGAINST POLICY


    TYPES OF LIFE
    INSURANCE
    • TERM LIFE • WHOLE LIFE
    INSURANCE INSURANCE

    • ENDOWMENT • UNIT LINKED


    INSURANCE INSURANCE

    • RETIREMENT • CHILD
    INSURANCE INSURANCE
    TYPES OF
    CHARGES
    • Premium Charges
    • Policy Fee
    • Mortality Charges
    • Surrender Charges
    • Policy Administration Charges
    • Fund Management Charges
    PENETRATION RATE
    • Life insurance increased from 2.15% in
    FY 2001-02 to 3.2% in FY 2021-22,
    almost twice more than that in emerging
    markets and slightly above the global
    average
    CURRENT
    NEWS
    Falling premiums at LIC drag life insurers'
    1 income down by 30%

    Life insurance stocks


    record renewed interest
    2
    as investors shrug off
    growth concerns.

    From 1st April 2023, insurance proceeds on


    3 premium above ₹5 lakh per annum would
    become taxable.
    FUTURE
    OUTLOOK OF
    INSURANCE

    The insurance industry in India is likely to introduce new trends like


    product innovation, multi-distribution, better claims management, and
    regulatory trends in the Indian market as incomes rise and purchasing
    power and household savings grow exponentially
    THANK
    YOU

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