Driven by sudden surge in single premium policy sales and falling interest rates, total new business premium of LIC rose 25.8 per cent to Rs 1.22 trillion in FY17 from around Rs 97,000 crore in the previous year. However, the state-run insurance behemoth witnessed degrowth in terms of policies during the year under review. Total new business premium, including pension and group business, rose to Rs 1.22 trillion in FY17, a growth of 25.8 per cent from around Rs 97,000 crore a year ago, a senior LIC official told PTI here. LIC Premium Calculator Online New business on the individual basis zoomed 47 per cent to Rs 37,800 crore from Rs 25,700 crore a year ago. New business on the individual basis jumped 122 per cent from the projected target of Rs 31,000 crore in FY17. Interestingly, target was the same for the previous fiscal too. New business on the individual basis at LIC grew by 47 per cent to Rs 37,800 crore for the fiscal year 2016-17 from Rs 25,700 crore in the previous fiscal. LI...