What is bandied about as booming growth, is clouded by selling polcies that can't be claimed as truly life risk based term policy. Endowment policies were few, because they offered no bonus, like LIC. Thanks to the four years of the stock market boom, the Life insures, including LIC have sold a bumper volume of Unit Linked policies that could hardly be called growth of next gen LifeInsurance. In fact they were Mutual Funds by another name. Lately, the ruse played by Life Insurers have been exposed and IRDA has clamped down stricter norms.