kolkata the lukewarm economic scenario notwithstanding the life insurance industry witnessed a solid 66 jump in capital deployed during aprildecember 2008 at rs 23271 crore rs 13990 crore invested almost entirely by the private sectorand why not the sector witnessed 16 growth in total premium income to rs 121392 crore during the period as against rs 113048 crore in the corresponding period in the previous year despite a 4 decline in firstpremium income total premium includes first premium income as well as renewal premium for the period interestingly renewal premium witnessed a near35 increaserenewals are that part of a persons funds that are set aside for the long term hence come what may individuals try and make sure renewals are paid in addition renewals are also directly related to policies sold in earlier years the industry has been growing at a hectic pace in the past few years kotak mahindra old mutual life insurance senior vicepresident subashis ghosh saidfurther benefits paid to policyholders including maturity as well as withdrawals stood at rs 37000 crore during the period compared with rs 33800 crore in the previous year according to data released by the life insurance council the industry body for life insurance companies in india renewal premiums for regular unitlinked insurance plans ulips witnessed a phenomenal 216 growth to rs 26637 crore for the ninemonth period ended december 31 2008 as against rs 8425 crore in the comparable period nonlinked premium cumulatively rose to rs 52529 crore from rs 50268 crore in the earlier period nonlinked premium from singlepremium policies doubled to rs 9976 crore rs 4932 crore whereas premium from ulips decreased from rs 15472 crore to rs 10421 crore new premium from regularlinked policies was down from rs 25204 crore to rs 21438 crore whereas nonlinked policy premium increased to rs 10392 crore rs 8746 crore