Insurance
Insurance penetration and coverage
Insurance penetration and coverage: 2.7% in 2024-25
2.7%
Data through 2024-25
Notes
The table retains the source’s published periods. Missing observations are not zero and have not been interpolated.
Annual insurance business, policies in force and people covered. A policy or covered life is not necessarily a unique person.
Publication cadence: Annual. Missing observations are not zero.
Insurance penetration and coverage · Penetration
Insurance penetration and coverage · Penetration: 11 observations shown, from FY 2014-15 through FY 2024-25.
| Period | Percent |
|---|---|
| FY 2014-15 | 2.6% |
| FY 2015-16 | 2.7% |
| FY 2016-17 | 2.7% |
| FY 2017-18 | 2.8% |
| FY 2018-19 | 2.7% |
| FY 2019-20 | 2.8% |
| FY 2020-21 | 3.2% |
| FY 2021-22 | 3.2% |
| FY 2022-23 | 3.0% |
| FY 2023-24 | 2.8% |
| FY 2024-25 | 2.7% |
data.indiadispatch.com
Life insurance
| Fiscal year | Penetration | Density usd | New business premium | Total premium | New policies | Policies in force | Existing business premium |
|---|---|---|---|---|---|---|---|
| 2024-25 | 2.7% | $72 | ₹3.98 trillion (≈ ₹3.98 lakh crore) · $41.3 billion | ₹8.86 trillion (≈ ₹8.86 lakh crore) · $92 billion | 27.02 million | 326.9 million | ₹4.88 trillion (≈ ₹4.88 lakh crore) · $50.7 billion |
| 2023-24 | 2.8% | $70 | ₹3.78 trillion (≈ ₹3.78 lakh crore) · $39.3 billion | ₹8.3 trillion (≈ ₹8.3 lakh crore) · $86.2 billion | 29.18 million | 329.5 million | ₹4.52 trillion (≈ ₹4.52 lakh crore) · $46.9 billion |
| 2022-23 | 3% | $70 | ₹3.71 trillion (≈ ₹3.71 lakh crore) · $38.5 billion | ₹7.83 trillion (≈ ₹7.83 lakh crore) · $81.2 billion | 28.47 million | 328.3 million | ₹4.11 trillion (≈ ₹4.11 lakh crore) · $42.7 billion |
| 2021-22 | 3.2% | $69 | ₹3.15 trillion (≈ ₹3.15 lakh crore) · $32.7 billion | ₹6.93 trillion (≈ ₹6.93 lakh crore) · $71.9 billion | 29.11 million | 328.68 million | ₹3.78 trillion (≈ ₹3.78 lakh crore) · $39.2 billion |
| 2020-21 | 3.2% | $59 | ₹2.79 trillion (≈ ₹2.79 lakh crore) · $28.9 billion | ₹6.29 trillion (≈ ₹6.29 lakh crore) · $65.3 billion | 28.13 million | 332.09 million | ₹3.5 trillion (≈ ₹3.5 lakh crore) · $36.3 billion |
| 2019-20 | 2.82% | $58 | ₹2.59 trillion (≈ ₹2.59 lakh crore) · $26.9 billion | ₹5.73 trillion (≈ ₹5.73 lakh crore) · $59.5 billion | 28.85 million | 333.21 million | ₹3.14 trillion (≈ ₹3.14 lakh crore) · $32.6 billion |
| 2018-19 | 2.74% | $55 | ₹2.15 trillion (≈ ₹2.15 lakh crore) · $22.3 billion | ₹5.08 trillion (≈ ₹5.08 lakh crore) · $52.8 billion | 28.65 million | 333.69 million | ₹2.93 trillion (≈ ₹2.93 lakh crore) · $30.4 billion |
| 2017-18 | 2.76% | $55 | ₹1.94 trillion (≈ ₹1.94 lakh crore) · $20.2 billion | ₹4.59 trillion (≈ ₹4.59 lakh crore) · $47.6 billion | 28.2 million | 331.49 million | ₹2.65 trillion (≈ ₹2.65 lakh crore) · $27.5 billion |
| 2016-17 | 2.72% | $46.5 | ₹1.75 trillion (≈ ₹1.75 lakh crore) · $18.2 billion | ₹4.18 trillion (≈ ₹4.18 lakh crore) · $43.4 billion | 26.46 million | 328.44 million | ₹2.43 trillion (≈ ₹2.43 lakh crore) · $25.3 billion |
| 2015-16 | 2.72% | $43.2 | ₹1.39 trillion (≈ ₹1.39 lakh crore) · $14.4 billion | ₹3.67 trillion (≈ ₹3.67 lakh crore) · $38.1 billion | 26.74 million | 327.07 million | ₹2.28 trillion (≈ ₹2.28 lakh crore) · $23.7 billion |
| 2014-15 | 2.6% | $44 | ₹1.13 trillion (≈ ₹1.13 lakh crore) · $11.8 billion | ₹3.28 trillion (≈ ₹3.28 lakh crore) · $34.1 billion | 25.91 million | 326.3 million | ₹2.15 trillion (≈ ₹2.15 lakh crore) · $22.3 billion |
data.indiadispatch.com
Non-life insurance
| Fiscal year | Penetration | Density usd | Gross premium | New policies |
|---|---|---|---|---|
| 2024-25 | 1% | $25 | ₹3.12 trillion (≈ ₹3.12 lakh crore) · $32.4 billion | 391.35 million |
| 2023-24 | 1% | $25 | ₹2.94 trillion (≈ ₹2.94 lakh crore) · $30.5 billion | 335.99 million |
| 2022-23 | 1% | $22 | ₹2.6 trillion (≈ ₹2.6 lakh crore) · $27 billion | 301.81 million |
| 2021-22 | 1% | $22 | ₹2.24 trillion (≈ ₹2.24 lakh crore) · $23.3 billion | 265.67 million |
| 2020-21 | 1% | $19 | ₹2.02 trillion (≈ ₹2.02 lakh crore) · $21 billion | 246.73 million |
| 2019-20 | 0.94% | $19 | ₹1.92 trillion (≈ ₹1.92 lakh crore) · $20 billion | 241.51 million |
| 2018-19 | 0.97% | $19 | ₹1.72 trillion (≈ ₹1.72 lakh crore) · $17.9 billion | 191.18 million |
| 2017-18 | 0.93% | $18 | ₹1.53 trillion (≈ ₹1.53 lakh crore) · $15.9 billion | 170.77 million |
| 2016-17 | 0.77% | $13.2 | ₹1.31 trillion (≈ ₹1.31 lakh crore) · $13.6 billion | 154.26 million |
| 2015-16 | 0.72% | $11.5 | ₹993.33 billion (≈ ₹99,333 crore) · $10.3 billion | 125.76 million |
| 2014-15 | 0.7% | $11 | ₹871.51 billion (≈ ₹87,151 crore) · $9.05 billion | 120.22 million |
| 2013-14 | 0.8% | $11 | ₹799.34 billion (≈ ₹79,934 crore) · $8.3 billion | 104.82 million |
data.indiadispatch.com
Health-insurance coverage
| Fiscal year | Government people | Group people | Family floater people | Individual people | Total people | Retail people |
|---|---|---|---|---|---|---|
| 2024-25 | 245.4 million | 275.1 million | 49.62 million | 10.53 million | 580.65 million | 60.15 million |
| 2023-24 | 261.1 million | 255.91 million | 45.34 million | 10.52 million | 572.87 million | 55.86 million |
| 2022-23 | 297.75 million | 199.4 million | 42.15 million | 10.74 million | 550.04 million | 52.89 million |
| 2021-22 | 306.51 million | 162.29 million | 40.66 million | 10.96 million | 520.42 million | 51.62 million |
| 2020-21 | 342.91 million | 118.69 million | 36.39 million | 16.75 million | 514.75 million | 53.14 million |
| 2019-20 | 361.97 million | 93.52 million | 30.53 million | 12.69 million | 498.71 million | 43.23 million |
| 2018-19 | 357.12 million | 72.85 million | 26.53 million | 15.54 million | 472.04 million | 42.06 million |
| 2017-18 | 359.26 million | 89.45 million | 21.55 million | 11.72 million | 481.99 million | 33.28 million |
| 2016-17 | 335.01 million | 70.47 million | 15.97 million | 16 million | 437.46 million | 31.97 million |
| 2015-16 | 273.27 million | 57.04 million | 15.86 million | 12.8 million | 358.96 million | 28.65 million |
data.indiadispatch.com
International comparisons
| Country | Life penetration | Nonlife penetration | Total penetration | Life density usd | Nonlife density usd | Total density usd |
|---|---|---|---|---|---|---|
| India | 2.7% | 1% | 3.7% | $72 | $25 | $97 |
| United States | 2.7% | 9.4% | 12.1% | $2,300 | $8,000 | $10,300 |
| China | 2.4% | 1.9% | 4.2% | $313 | $245 | $558 |
| World | 3% | 4.3% | 7.3% | $388 | $555 | $943 |
data.indiadispatch.com
Source: Insurance Regulatory and Development Authority of India, India Dispatch Research
Cite this reading
India by the numbers, Insurance penetration and coverage, 2024-25. 2.7%. Source: Insurance Regulatory and Development Authority of India. https://data.indiadispatch.com/household/insurance-penetration
Published content updated . This is separate from the source observation period.