After
IRDAI of India new Regulation for ULIP products, ULIPS are being popular day by
day in the Life insurance sector. There is huge potential in Life Insurance
Sector in the Country. The Single Premium business done by Life Insurers in
India are 1.16 Lakhs crores and 1.28 lakh crores in the year 2016-17 and
2017-18 respectively. The summarized details for the same are as under.
Single
premium (Rs. in Crores)
|
Insurer
|
2016-17
|
2017-18
|
|
LIC
|
98282.28
|
106525.29
|
|
Growth (in percent)
over the previous year.
|
(32.70)
|
(8.39)
|
|
Private
|
17569.92
|
21900.88
|
|
Growth (in percent)
over the previous year.
|
(27.12)
|
(24.65)
|
|
Total
|
115852.20
|
128426.17
|
|
Growth (in percent)
over the previous year.
|
(31.82)
|
(10.85)
|
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