PRESENTED BY: M INDRAJA15331E0075

LIFE INSURANCE IN INDIABANKING AND INSURANCE

• Insurance: Definition• Life Insurance: Introduction• Types of Life Insurance• Life Insurance in India

CONTENTS

Definition:A financial risk management tool in which the insured transfers a risk of potential financial loss to the insurance company that mitigates it in exchange for monetary compensation known as The premium.

INSURANCE

LIFE INSURANCELife insurance is a protection against financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration for premium payments made by the insured.

Life Insur-ance

TYPESThe basic types of life insurance policies are: Term insurance Unit linked insurance plans (ULIP) Endowment plans Whole life policy Money back policy

Life Insur-ance

The Overview of Insurance Sector in India

Insurance has a long history in India. The business of life insurance started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.(a) Pre Nationalization(b) Nationalization and(c) Post NationalizationLife Insur-

ance in In-dia

Life Insurance in IndiaThe life insurance sector transformed since it was thrown open to private sector participation in 2000. Life Insurance Corporation of India (LIC) was formed in September, 1956 by an Act of Parliament, with capital contribution from the Government of India.

Life Insur-ance in In-dia

BIBILIOGRAPHY

• Life Insurance Definition | Investopedia http://www.investopedia.com/terms/l/lifeinsurance.asp#ixzz4QZ7kPGHq 

• http://economictimes.indiatimes.com/definition/insurance• http://www.businessdictionary.com/definition/life-insurance.html

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