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Why is LIC so late to the health insurance party?
May 30, 2024
Discover why LIC has been hesitant to enter the health insurance market and the challenges they face, such as separate licensing requirements. Explore the potential opportunities for LIC in this evolving sector.
05:27
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Quick takeaways
- LIC has focused on life insurance due to regulatory constraints, limiting its health insurance offerings.
- LIC is contemplating entering the health insurance market through potentially investing in existing businesses.
Deep dives
LIC's History in Health Insurance
LIC, India's largest financial institution, has primarily focused on life insurance and has not ventured into health insurance due to regulatory constraints. While it does offer fixed benefit health insurance products like the Arugya Rakshak Plan, it is limited in customization and cannot sell indemnity products due to regulations set by the IRDAI.
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