Premiums for term insurance plans may increase by 20% in December-January

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Life insurers, pushed by global reinsurers, are expected to increase premiums on term plans, as rising mortality after the second wave of the pandemic has led to an increase in the number of claims. Some will do so next month while others may wait until January.

Global reinsurer Munich Re pushed its insurance partners up in September and insurers have started negotiations with the reinsurer over the amount of the increase. Prices for term plans in India have been among the lowest in the world for a long time, but over the past two years they have been …

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First published: Sat, November 20, 2021. 6:05 AM IST

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