BusinessPhoto: Mint CompaniesICICI Life Defends Credit Cover Amid IRDAI Commission Cut Proposal
ICICI Life Insurance highlighted the importance of credit life insurance for Indian borrowers during its earnings call. The product pays off outstanding loans if the borrower dies during the loan term, especially benefiting low-income borrowers without asset-backed loans. This comes as IRDAI proposes capping commissions on single-premium credit life insurance at 2%, down from an average of 22% in FY25, to reduce lender commissions.
Mint Companies·




