Cabinet Approves 100% Insurance FDI: Boosts Growth, Benefits Policyholders

• Cabinet approves increasing FDI limit in the insurance sector from 74% to 100%.
• The bill is expected to be introduced in the upcoming winter session of Parliament.
• The move aims to attract more investment, expand insurance coverage, and accelerate growth.
• Changes are proposed for the Insurance Act 1938, LIC Act 1956, and IRDA Act 1999.
• Policyholders are expected to benefit from cheaper products, improved claim settlement, and more choices.

Why It Matters: Increased FDI in insurance means better, cheaper policies and wider coverage for you.