MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES RAJYA SABHA UNSTARRED QUESTION No. 1040
ANSWERED ON TUESDAY, 28 JULY, 2026/ 6 SHRAVANA, 1948 (SAKA)
1040 SHRI RAJINDER GUPTA:
Will the Minister of Finance be pleased to state:
- (a)whether Government has taken note that, as per IRDAl data, the life insurance industry's average 13th-month persistency ratio stood at around 63 percent in 2025 and that persistency declines further at later checkpoints, with 61st-month (5-year) persistency for many insurers falling in the 45-55 per cent range;
- (b)whether Government has reviewed the factors contributing to these persistency trends; and
- (c)whether any measures, such as standardised post-sale reminder and reinstatement communication and enhanced grace periods for policyholders facing economic disruption, are under consideration to improve persistency rates?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)
- (a)& (b): Persistency ratio is one of the important indicators used to assess policy continuation, quality of business procured, policyholder retention and market conduct of insurers. Insurance Regulatory and Development Authority of India (IRDAI) periodically analyses persistency trends through regulatory returns and supervisory engagements with insurers and it requires insurers to take appropriate measures for improving long-term policy continuation and policyholder outcomes. Persistency experience is monitored at various durations, including the 13th month, 25th month, 37th month, 49th month and 61st month, based on the data submitted by insurers. As per data available with IRDAI and published in IRDAI’s Handbook on Indian Insurance Statistics 2024-25, the 13th month persistency for different life insurance companies ranges from 59.68% to 83.22% and 61st month persistency ratio ranges from 22.20% to 58.80% for the FY2024-25.
There are several factors influencing the level of persistency of life insurance policies including the affordability of premium, changes in the financial circumstances of policyholders, suitability of products, quality of advice at the point of sale, servicing standards of insurers, premium payment behaviour, distribution channel characteristics and overall economic conditions.
- (c): As per IRDAI Master Circular IRDAI/ACTL/MSTCIR/MISC/89/6/2024 dated 12/06/2024 on Life Insurance Products, grace period of 15 days (where the premium is paid on a monthly basis) and 30 days (where the premium is paid in quarterly/half-yearly/annual instalments) is available on the premium due date, to pay the premium. During grace period, the policy is considered to be in-force and risk cover would be available without any interruption as per the terms & conditions of the policy. As per the Master Circular, insurers are required to examine the persistency across all the distribution channels and put in place mechanism to improve persistency across all the durations of the policy for enhancing long term benefits to policyholders and establish strict measures to curb mis-selling. Further, IRDAI has made insurers’ Product Management Committee (PMC) responsible for their operational issues. PMC is held strictly accountable for their 13th month and 61st month persistency ratios.
Every policy has revival period, wherein the policyholder can make the pending premium payment and revive the policy so that the insurance cover will continue. After making three years’ premium payment, policy can be continued in the paid up status so that reduced cover can be continued.
To support policyholders facing economic disruption, all the non-linked individual life insurance savings products offering surrender value are required to offer facility of policy loan, enabling policyholders to meet liquidity requirements, so that policyholders have access to funds without needing to lapse or surrender policies. In addition, partial withdrawals are permitted under pension products to cover significant life expenses such as education, housing, or medical treatments.
*****.
3 comments:
@lisafalk9264 They didn’t want any female babies and now there’s a bunch of males and no one to create new life. How did they imagine this would play out? @PINAY1000 This is the best REVENGE done by all the women souls that were disregarded all these years!!!
Aging parents who willingly smothered their female babies are now crying because they have no grandchildren.
The irony @nancyhsu5565 I'm Taiwanese, raised in Canada most of my life. I hate this kind of pressure in China. I never married because I never met the right man. I have enough problems dealing with my own health and finances. Still, I'd rather be single and struggling than enter into a marriage contract with the wrong person. @KarenHawes what happens in these "shortages" of women is kidnapping and human trafficking of young girls and women "of child bearing years", as well as sharing brides with brothers.
Women and girls just can't catch a break from the cruelty of misogyny. @howtheever
Them women don't want to become caretakers to a grown boy and his parents who are steeped in patriarchal thinking.
@Aina-l2m4w Such abusive parents. What a toxic society!!
@isthatallyougot
Misogyny, like every other form of bigotry, is expensive.
@raydenlee(edited)
If you really think about it.. for the 300 million single men, there was approx also 300 million baby girls that were not wanted, aborted, adopted, murdered or thrown away. 🤦🏻♂️😓 @Bl3ss3dbyJ3us38
Murdering millions of innocent baby girls has consequences. Rest in Peace, innocent babies. @chernagast675
Scarcity means higher bride prices. You killed off millions of daughters and they noticed.
@AliasGrace82
Murdering millions of female babies was a bit stupid wasn’t it.
@MyriadLove
Decades systematically deleting baby girls has consequences. Can't believe they didn't see this coming. Smh.
@DarlingGlitch
Who knew femicide and misogyny would have to answer to something greater then the institutions that upheld them @umbreoniteUwU
How many of there parents do you think "got rid of" their female babies? Killed or aborted their female babies so they could have a boy, and then harass him to get married so they have a woman in the family to take care of them. The sheer audacity @jimmyfortrue3741
35 million more men than women? Thats because they aborted so many female babies all those years ago with their 1 child policy. @ashkabrawn Patriarchy is blowing up on the faces @daascia (edited)
The parents only want their sons to get married so someone will care for them in old age. It is, at the end of the day, still about the free labor/slavery of women
https://www.youtube.com/watch?v=unlpnUzY6BA China’s Single Population Hits 300 Million! Something Worse Than Young People Not Marrying Happens
621,590 views chinaobserver
This is the most surreal part of marriage and relationships in today's China: on one side, countless rural men, burdened by economic pressures, are left sighing in despair over their unattainable hopes of finding a wife; on the other side, a large number of outstanding urban women are still waiting for the right match due to their "selection criteria." They seem to be separated by an invisible wall, both trapped in this era’s "marriage and relationship siege."
This structural imbalance has pushed China into an increasingly severe "super-single era."
According to the latest statistics, by the end of 2025, China's single population will have surpassed the 300 million mark.
It’s because no one in China wants a Chinese daughter, yet they all want a Chinese daughter-in-law. Chinese math hasn’t been mathing for centuries!
Karma is a bitch who makes you reap what you sow.
@mswaddellmw
This is the collective revenge of all the systematically slain girls. @umbreoniteUwU
How many of there parents do you think "got rid of" their female babies? Killed or aborted their female babies so they could have a boy, and then harass him to get married so they have a woman in the family to take care of them. The sheer audacity 😮💨
26 replies
@jimmyfortrue3741
35 million more men than women? Thats because they aborted so many female babies all those years ago with their 1 child policy.
@ashkabrawn
Patriarchy is blowing up on the faces
@daascia (edited)
The parents only want their sons to get married so someone will care for them in old age. It is, at the end of the day, still about the free labor/slavery of women.
@toriladybird511 My sympathy for the sons. But MY BIGGER sympathy lies with every little girl who was killed, abandoned or given away and is now a citizen in any nation.
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