Rural Life Insurance in Post Reform Era in India: Growth and Opportunities

Abstract

Life insurance is of paramount importance for protecting human lives against accidents, causalities and other types of risks. Life insurance has been dominated by public sector in India; however, with the liberalization of Indian economy, private sector entry in life insurance has got momentum. The public sector Insurance Companies, particularly, LIC of India has emphasized on exploiting the potential of rural India as it provides immense scope even in the post globalized era.

The paper highlights emerging trends and patterns in Indian insurance business during post globalized era. It also focuses on the role of private partners in life insurance in India.

JEL Classification: G, F, E