The government will remain the majority shareholder and will continue to retain management control, safeguarding the interest of policyholders.
The survey also found that most consumers would like to buy life insurance in the next six months as part of their investment plans.
The overall sum assured also declined 12.9 per cent to Rs 8.8 lakh crore in the June 2020 quarter, compared with Rs 10 lakh crore in the corresponding period of the previous year.
The coronavirus outbreak and subsequent lockdown led to sluggish business activities across sectors including the life insurance industry, Edelweiss Tokio Life Insurance MD and CEO Sumit Rai said.
All policyholders are requested to note that the objective of grace period allowed is to pay all the premiums due within that period.
Launched in 2018, Uber Care provides easy access to life insurance, family health insurance, micro-loan, etc to drivers. The top five cities where the maximum number of drivers were impacted are Delhi, Bangaluru, Mumbai, Hyderabad and Pune.
The Chief Minster was addressing a huge gathering of mandal and village level Rythu Samanvaya Samithis representatives who were joined at the meeting organized to discuss the nitty gritty of implementing the life insurance scheme for farmers.
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The arrested suspects were identified as A. Ravi Sankar Sarma, 38, a trader from Nalgonda; Mohammed Mujeeb-ulla-Khan, 42, a mechanic with the RTC and a resident of Nalgonda
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The IRDAI has not specified any deadline for linking of Aadhaar number with the existing policies.
The impact of demonetisation is clearly visible with tax collection figures seeing double-digit growth, said Finance Minister Arun Jaitely.