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DEVELOPMENT OF LAW RELATING TO LIFE INSURANCE IN INDIA

Dr. Anil Kumar

Page No. : 1-8

ABSTRACT

Life Insurance provides financial security to the family of a policyholder in the event of his/her death. This is the most popular insurance policy, as most people want to ensure that their family members remain financially secure in the event of their death. Development of law relating to life insurance sector supervision has an important impact on the development of market structure as the market grows and strengthens itself with the reforms in regulatory measures. Tracing the development of the Indian insurance sector reveals that it has witnessed a 360 degree turn over a period of two centuries. Law regulate and development of insurance industry organisation comprises of the various functions.

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