Magazine date:
Jul 2022 
According to GlobalData, the Indian life insurance market turnover is expected to reach 11.4 trillion INR (150.6 billion USD) against 7 trillion INR (92.3 billion USD) in 2021. The average annual growth rate is estimated at 10.3% over the period 2021-2026.
Several factors are likely to support the development of the sector including: increased risk awareness, growing demand for group policies, favorable regulatory environment, adoption of digital means of distribution and marketing of life insurance products to low-income individuals.
Read also | Forecast 2026 of the Indian insurance market [4]