Insurance plays a vital role in today's complex world because the amount of risk that may be protected has expanded dramatically in almost every aspect of life. As a result, the insurance industry has grown.  The insurance industry serves as a savings mobilizer, a financial broker, and a promoter of investment activity. It can contribute significantly to a country's economic development. After the deregulation of the insurance industry in India, there has been a considerable change in the industry, both in terms of products and services provided to clients. The purpose of this paper is to examine the penetration of life insurance in India. The analysis is entirely based on secondary data gathered from the IRDA's annual report for the years 2001 to 2019. According to the data, the penetration of life insurance industry in India is fluctuating and for the last few years it has been below 3%. Some corrective measures have been suggested to improve penetration rate of India.

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Keywords: Insurance Penetration, IRDA, Life Insurance, Suggestive Measures.