Group Life Insurance Policy Purchases Rise Over Last 3 Years

Individual purchase of life insurance policies has been found low over the last three years, while group purchase of life insurance policies, particularly those involving a single premium payment are on the rise.

Over the past 3 years, group single premiums are the only category where the life insurance business witnessed sustained growth. There were less premium collections for individual single premium and individual and group non-single premium policies in the year 2012.

Source: The Hindu Business Line