Irdai exploring financing for life insurance premiums for non salaried
Struggling to pay your life insurance premiums? Irdai is working on a scheme that could let you keep your policy going even if money gets tight.
Announced by Chairman Ajay Seth at Samvaad 2026, organized by Sahamati, the plan is especially meant for people outside the salaried workforce.
If you're unable to pay those last few premiums, Irdai might explore ways to finance them so you don't lose out on your policy's full value.
Irdai proposes official premium assistance
Seth also pointed out issues with unofficial gray market deals where people hand over their policies for quick cash, something that isn't legal.
To fix this, Irdai wants to create official ways for people to get help paying their premiums.
They're also exploring similar support for health insurance payments, making it easier for families on tight budgets to stay covered.