HDFC Life insures 5 crore people by FY 2025

Business Business: HDFC Life Insurance Company insured over 5 crore people in FY25, according to its latest integrated annual report.

However, the same report shows that the company issued only 12.7 lakh individual policies during the year, which means that the remaining 4.87 crore people were covered through group insurance plans.

This 4.87 crore is over 97 per cent of the total people insured by HDFC Life in FY25.

Group insurance is usually sold to employers, micro-finance institutions or affiliated groups, and differs significantly from retail life insurance. These products are usually short-term, low-premium, with coverage amounts ranging from Rs 10,000 to Rs 2 lakh per person. Such plans are often mandatory or linked to a loan or employment relationship and expire when that relationship ends.

In contrast, individual policies, including term, savings, and ULIPs, are longer-term, involve detailed underwriting, and have higher sums assured, clearly indicating customer intent and engagement.

HDFC Life has not disclosed metrics such as average sum assured per life, ticket size by product category, or persistency rates for group policies, leaving the actual value of its coverage figures uncertain.