Life Insurance Premiums Rise 12% In November; LIC Leads With Rs 31,119 Crore

India’s life insurance sector reported a 12% growth in total premium income for November, reaching Rs 15,249 crore among private players, according to data from the Life Insurance Council.

LIC continued to dominate the market with a 23% surge in premium income to Rs 31,119 crore, while SBI Life posted the highest growth among private insurers at 34.4%.

Last month India’s life insurance sector saw the premiums rise 12.1% year-on-year to Rs 34,007 crore in October 2025, according to CareEdge Ratings, citing data from the Life Insurance Council and IRDAI.

The month prior to that marked a sharp recovery from the 5.2% decline recorded in August, driven largely by strong performance in the individual segment, particularly non-single premium policies, reflecting growing demand for recurring products.

The recent reduction in GST on individual life insurance policies has also helped maintain momentum across the industry. The central government facilitated a complete removal of 18% Goods and Services Tax on health insurance.

All individual health insurance policies, including family floater policies and policies for senior citizens and reinsurance, were exempt from GST effective September 22.

Separately, last month a bill that would ban life insurers from discriminating against Australians based on the results of genetic testing was introduced to parliament.

The legislation would ban life insurers from taking into account the results of genetic tests that gauge your risk of disease when choosing whether to provide cover and how much to charge for it.

Life insurers can legally discriminate based on health and other risk information, including genetic test results showing someone’s future risk of disease. This means they can decline to cover a person altogether, increase the cost of their premiums, or place conditions on their cover.