Question
Identify which of the following statements is/are TRUE
with respect to the data released by IRDAI in its annual report - I. According to the Insurance Regulatory and Development Authority’s annual report 2023, of the total 28.4 million policies sold by the insurers during 2022-23, the share of women’s life insured by private companies rose to 30.13 per cent as compared to 29 per cent in 2021-22. II. On the other hand, the share of women insured by Life Insurance Corporation of India (LIC) dropped to 35.81 per cent from 36 per cent in the year-ago period. III. Of the total policies sold, the number of policies issued to women was around 5.73 million, which is 34.20 per cent of the total.Solution
According to the Insurance Regulatory and Development Authority’s annual report 2023, Of the total 28.4 million policies sold by the insurers during 2022-23, the share of women’s life insured by private companies rose to 30.13 per cent as compared to 29 per cent in 2021-22. On the other hand, the share of women insured by Life Insurance Corporation of India (LIC) dropped to 35.81 per cent from 36 per cent in the year-ago period. Of the total policies sold, the number of policies issued to women was around 9.73 million, which is 34.20 per cent of the total.
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