India’s insurable population over 57 crore

The approximate total number of insurable Indians is over 57 crore, parliament was informed on 29th November.
“Based on the working population, as per census 2001 data, the Insurance Regulatory and Development Authority (IRDA) has reported that the approximate total number of insurable persons in the country is 57,03,35,944,” Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.

He said that as on March 31, 2010, the total number of policies in force relating to private life insurers is 4,03,63,200 and the lives covered under group new business by them are 4,19,59,796.

IRDA has informed that the details of insured people belonging to Above the Poverty Line (APL) and Below the Poverty Line (BPL) category are not maintained, Meena said.