What is the Life Insurance Council?

Constituted under Sec. 64A of the Insurance Act of 1938, the Life Insurance Council of India is a forum that connects various entities in the sector, which include not only the Life Insurance Companies (private and public), but also the Government, regulatory board and the public. It develops and coordinates all the discussions that take place between the life insurance stakeholders through several sub-committees.

Their objective is to play a significant and complementary role in transforming India's Life Insurance Industry into a vibrant, trustworthy and profitable service, helping people in their journey to prosperity.

Life Insurance Council functions as an active forum to aid, advice and assist insurers in maintaining high standards of conduct and service to policyholders; interact with the Government and other bodies on policy matters; spread insurance awareness in India; develop education and research in insurance and introduce global practices in life insurance in India.

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