As of financial year 2021, there were around 1,844 Life Insurance Corporation offices and around 4,717 private life insurance offices in India's Tier I cities. Tier 6 towns or villages were seen to have the lowest number of LIC or private life insurance offices in the country.
Number of life insurance offices in India as of financial year 2021, by tier
According to the source, offices are defined under Section 64VC of the Insurance Act, 1938 and this data was collected from life insurers through a special return.
The source defines the following categories:
Tier I: population of 100,000 or more inhabitants
Tier II: population of 50,000 to 99,999 inhabitants
Tier III: population of 20,000 to 49,999 inhabitants
Tier IV: population of 10,000 to 19,999 inhabitants
Tier V: population of 5,000 to 9,999 inhabitants
Tier VI: population less than 5,000.
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IRDA (India). (December 23, 2021). Number of life insurance offices in India as of financial year 2021, by tier [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/
IRDA (India). "Number of life insurance offices in India as of financial year 2021, by tier." Chart. December 23, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/
IRDA (India). (2021). Number of life insurance offices in India as of financial year 2021, by tier. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/
IRDA (India). "Number of Life Insurance Offices in India as of Financial Year 2021, by Tier." Statista, Statista Inc., 23 Dec 2021, https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/
IRDA (India), Number of life insurance offices in India as of financial year 2021, by tier Statista, https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/ (last visited November 21, 2024)
Number of life insurance offices in India as of financial year 2021, by tier [Graph], IRDA (India), December 23, 2021. [Online]. Available: https://www.statista.com/statistics/655995/number-of-life-insurance-offices-india-by-tier/
