100% FDI in Insurance: Cheaper Policies, More Options for Consumers

• Lok Sabha approved 100% FDI in insurance, aiming to attract foreign capital and boost market competition.
• Increased competition is expected to lead to cheaper premiums and a wider range of policy options for customers.
• Foreign investment will enhance digital platforms, streamline claim settlements, and improve customer service.
• New, innovative insurance products like customized health covers and long-term retirement plans are anticipated.
• Public sector insurance companies will be compelled to improve services, benefiting overall sector quality.

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