Well glitches all right but we at least have an alternative, but most people agree this wouldn't drive any sort of a price war like the mobile industry. Perhaps the company with better Customer Service will gain the most now
this question would probably require an expert to answer. private companies do offer some features that government companies might not. i heard that pregnancy is covered by only a few companies on a few policies (for medical insurance). it would be stupid to blankly say that LIC is better than all the other options. it would strictly depend upon what policy you took. i have invested in three ULIPs by private companies. i made foolish choices and all of them are making loss (i was promises 50-60% growth at the time of getting them... market was really booming at that time). now i plan to discontinue them all next year and switch to a single long term high quality policy from LIC.