What Is
Life Insurance?
Life insurance is a contract that
pledges payment of an amount to the
person assured (or his nominee) on
the happening of the event insured
against.
Life insurance in India made its
debut well over 100 years ago.
In our country, which is one of the
most populated in the world, the
prominence of insurance is not as
widely understood, as it ought to
be. What follows is an attempt to
acquaint readers with some of the
concepts of life insurance, with
special reference to LIC.
