A landmark initiative to expand insurance penetration in India’s underserved markets is set to take shape with the launch of Bima Vistaar, a bundled protection product combining life, health, and property coverage. Scheduled for rollout by December 2025, the scheme is expected to significantly improve access to financial protection in rural and semi-urban regions.

Under the plan, all 26 life insurance companies in the country will jointly offer Bima Vistaar at a uniform price, ensuring affordability and consistency for consumers. Each policy will provide an individual coverage of ₹5 lakh, addressing multiple risks under a single package. This standardized approach is aimed at removing complexity for buyers while making insurance more accessible to households that have traditionally remained outside the formal protection net.

To support adoption, the insurance industry has committed a ₹150 crore, three-year awareness campaign. The initiative will focus on spreading knowledge about the product in villages and small towns, highlighting its benefits and ease of purchase. Industry stakeholders believe that widespread education will be critical to building trust and encouraging first-time policyholders to participate.

The development of Bima Vistaar aligns with the broader vision of the Insurance Regulatory and Development Authority of India (IRDAI), which has been pushing for simplified, inclusive products to achieve the goal of “Insurance for All by 2047.” By bringing together all insurers under one framework, the product is expected to create scale, reduce distribution challenges, and foster deeper rural penetration.

Experts view Bima Vistaar as a potential game-changer, combining affordability, accessibility, and comprehensive coverage. If successful, the model could become a blueprint for future collaborations in the sector, supporting both financial inclusion and long-term resilience for India’s rural households.