<h1>Life Insurance Policies See 8.22% Drop in 2011-12; Premiums Decline 14.01% Amid New Regulations and Market Conditions.</h1> The Insurance Regulatory and Development Authority reported an 8.22% decline in new life insurance policies issued during the 2011-12 financial year compared to 2010-11. Premium income from these policies also fell by 14.01%. This decline is attributed to new regulations on ULIP product design and prevailing market conditions. The government has discussed the industry's performance with insurers and the regulator, identifying measures to boost the sector, including taxation benefits and addressing regulatory issues related to product design, distribution, and investment. This information was provided by the Minister of State for Finance in a Lok Sabha session.