Life Insurance Industry of India – Past, Present & Future (A Study of LIC of India)

International Journal of Economics and Management Studies

© 2017 by SSRG - IJEMS Journal

Volume 4 Issue 4

Year of Publication : 2017

Authors : Shilpa Agarwal, A. K. Mishra

10.14445/23939125/IJEMS-V4I4P108

How to Cite?

Shilpa Agarwal, A. K. Mishra, "Life Insurance Industry of India – Past, Present & Future (A Study of LIC of India)," SSRG International Journal of Economics and Management Studies, vol. 4,  no. 4, pp. 42-45, 2017. Crossref, https://doi.org/10.14445/23939125/IJEMS-V4I4P108

Abstract:

The Indian Life Insurance Industry has faced many obstacles and challenges to attain its present position. With the change in the consumer perception on life insurance and its awareness and penetration, the industry has witnessed a remarkable growth in its business. A major cause for this upliftment is indeed the acceptance and adaptation of liberalization privatization and globalization (LPG) in the year 1991. After 1991 the Indian life insurance industry has geared up in all respects, as well as it is being forced to face a lot of competition from many national and international private insurance players. This paper is aimed at examining the status of LIC of India in pre & post liberalized era as well as estimating future trend of insurance business of LIC of India, as to analyze its future position in the day- by- day enhancing competition.

Keywords:

Life Insurance, Liberalization, Privatization, Globalization.

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