LIFE INSURANCE, CHALLENGES AND OPPORTUNITIES IN RURAL INDIA.

Abstract

……………………………………………………………… Life insurance is very important for protecting human lives against accidents, causalities and other types of risks. Life insurance has been dominated by public sector (LIC) in India; however, with the liberalization of Indian economy, private sector entry in life insurance has got momentum. The public sector Insurance Company, i.e. LIC of India has emphasized on exploiting the potential of rural India as rural life insurance provides immense scope.But still its penetration is very low as compared to that in developed nations. This paper highlights emerging trends, patterns, and opportunities in Indian rural life insurance business. It also focuses on the role of private companies in life insurance in India.