India's insurable population touches 57 crore

New Delhi, Nov 30: The Parliament have informed its members that the approximate number of insurable population in India is over 57 crore. Minister of State for Finance, Namo Narain Meena revealed in parliament that, based on the working population, as per census 2001 data, the Insurance Regulatory and Development Authority (IRDA) has reported that the approximate number of insurable persons in the country is 57,03,35,944.

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

Meanwhile, IRDA said that the details of insured people belonging to above poverty line (APL) and Below the poverty line (BPL) category are not maintained.

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