Lok Sabha Clears 100% FDI in Insurance: What It Means For Your Policy

• Lok Sabha passes Insurance Amendment Bill 2025, raising FDI limit in insurance sector from 74% to 100%.
• The bill amends the Insurance Act, 1938, LIC Act, 1956, and IRDAI Act, 1999.
• IRDAI gains new powers to recover wrongful gains; LIC can open zonal offices without prior government approval.
• Expected to increase competition, leading to cheaper policies, more options, and better services for consumers.
• Aims to boost insurance penetration, which recently saw a decline in India.

Why It Matters: 100% FDI in insurance promises cheaper policies, better services, and more options for consumers.