Lok Sabha Question No. 2006 (UNSTARRED), answered on 2018-12-21
Subject: Insurance Companies
Ministry: FINANCE
Asked by: NEELAM SONKER

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. †2006

TO BE ANSWERED ON FRIDAY, DECEMBER 21, 2018/AGRAHAYANA 30, 1940 (SAKA)

## Insurance Companies

†2006. SHRIMATI NEELAM SONKER:

Will the Minister of FINANCE be pleased to state:

- (a) the details of total number of Government and private insurance companies operating in the country;
- (b)   whether the beneficiaries of the insurance scheme are linked with health services and complete health cover and if so, the details thereof;
- (c)  whether the Government has constituted any investigation team which can verify the forms of all insurance beneficiaries of the insurance companies; and
- (d)  if so, the details thereof and if not, the reasons therefor?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SHIV PRATAP SHUKLA)

- (a) The details of total number of insurance companies both public and private operating in the country are given in Annexure .
- (b)  The  Health  Insurance  policies  offered  by  Insurance  Companies  cater  to  varied healthcare needs  of policyholders/beneficiaries or  targeted  market  segment.  The coverage  is  normally  granted  to  various  treatments  arising  out  of  illnesses/diseases covered under Health Insurance Policy.

The Health Insurance policies are offered with varied features either on indemnity basis (where costs of treatment are reimbursed) or on benefit based (where a fixed sum is paid on the policyholder contracting the defined critical illness) and normally include providing cover for  (i)  hospitalization,  (ii)  defined  benefit  on  contracting  defined  critical  illnesses, (iii) hospitalization during overseas travel, (iv) accidental temporary/ permanent disability and (v) accidental death. Pre-hospitalization and post-hospitalization expenses are also covered as per the policy terms and conditions.

- (c) and (d) No, the Government has not constituted any investigation team.

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ANNEXURE REFERRED TO IN PART (a) OF LOK SABHA UNSTARRED QUESTION NO. 2006 FOR ANSWER ON DECEMBER 21, 2018.

| LIFE INSURANCE COMPANIES   | LIFE INSURANCE COMPANIES                        |
|----------------------------|-------------------------------------------------|
| Public Sector Companies    | Public Sector Companies                         |
| 1                          | Life Insurance Corporation of India             |
| Private Sector Companies   | Private Sector Companies                        |
| 1                          | Aditya Birla Sun Life Insurance Co Ltd          |
| 2                          | AEGON Life Insurance Co Ltd                     |
| 3                          | Aviva Life Insurance Co Ltd                     |
| 4                          | Bajaj Allianz Life Insurance Co Ltd             |
| 5                          | Bharti AXA Life Insurance Co Ltd                |
| 6                          | Canara HSBC OBC Life Insurance Co Ltd           |
| 7                          | DHFL Pramerica Life Insurance Co Ltd            |
| 8                          | Edelweiss Tokio Life Insurance Co Ltd           |
| 9                          | Exide Life Insurance Company Limited            |
| 10                         | Future Generali India Life Insurance Co Ltd     |
| 11                         | HDFC Standard Life Insurance Co Ltd             |
| 12                         | ICICI Prudential Life Insurance Co Ltd          |
| 13                         | IDBI Federal Life Insurance Co Ltd              |
| 14                         | IndiaFirst Life Insurance Co Ltd                |
| 15                         | Kotak Mahindra Old Mutual Life Insurance Co Ltd |
| 16                         | Max Life Insurance Co Ltd                       |
| 17                         | PNB MetLife India Insurance Co Ltd              |
| 18                         | Reliance Life Insurance Co Ltd                  |
| 19                         | Sahara India Life Insurance Co Ltd              |
| 20                         | SBI Life Insurance Co Ltd                       |
| 21                         | Shriram Life Insurance Co Ltd                   |
| 22                         | Star Union Dai-ichi Life Insurance Co Ltd.      |
| 23                         | Tata AIA Life Insurance Co Ltd                  |

| GENERAL INSURANCE COMPANIES/ STANDALONE HEALTH INSURANCE COMPANIES/ SPECIALISED INSURERS   | GENERAL INSURANCE COMPANIES/ STANDALONE HEALTH INSURANCE COMPANIES/ SPECIALISED INSURERS   |
|--------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------|
| Public Sector General Insurance Companies                                                  | Public Sector General Insurance Companies                                                  |
| 1                                                                                          | National Insurance Co. Ltd.                                                                |
| 2                                                                                          | The New India Assurance Co. Ltd.                                                           |
| 3                                                                                          | The Oriental Insurance Co. Ltd.                                                            |
| 4                                                                                          | United India Insurance Co. Ltd.                                                            |
| 5                                                                                          | General Insurance Corporation of India                                                     |

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