On March 19, 2025, a delegation of Life Insurance Corporation (LIC) agents met with Leader of Opposition in the Lok Sabha, Rahul Gandhi, at Parliament House in New Delhi. The agents expressed their concerns about recent changes in rules by the Insurance Regulatory and Development Authority of India (IRDAI) and LIC, which they believed would make insurance less affordable for the poor and marginalized communities and weaken their position as agents. The agents shared their worries about commission reduction, return of commission if a policyholder cancels their policy, and a reduced upper age limit for enrolling people in certain policies. Gandhi expressed his concerns, saying that the original focus of LIC, which was to protect the interests of the poor, is shifting towards a more commercial approach. He stated, “The original focus of LIC, which was protecting the interest of the poor, is changing and they are more and more moving away from this. So, we are raising the issue.” Gandhi also met with unions representing construction workers to discuss the challenges they face. This meeting highlights the growing concerns among LIC agents and workers regarding the recent changes in the insurance sector, which may lead to reduced accessibility and affordability for the poor and marginalized.
Rahul Gandhi has noted that LIC is shifting its priority from social welfare to commercial interests.
