Insuring Lives a Comprehensive Analysis of Life Insurance in India

This book offers an in-depth exploration of India’s life insurance landscape, tracing its evolution, expanding regulatory framework, and shifting market dynamics. Moving beyond surface-level explanations, it examines how insurance functions as both a financial safeguard and a socio-economic stabilizer in a rapidly transforming nation. Through analytical clarity and evidence-based insights, the book highlights the changing consumer expectations, technological disruption, and the growing significance of risk literacy in shaping India’s insurance ecosystem.

Key Features -

• Provides a structured examination of insurance products, market mechanisms, and operational models within India’s life insurance sector.
• Analyses regulatory reforms, compliance challenges, and their long-term implications on insurers and policyholders.
• Breaks down major distribution channels, from traditional agency networks to digital and hybrid platforms.
• Presents comparative insights into public and private sector insurers, highlighting performance trends and competitive shifts.
• Offers data-backed assessments of consumer behaviour, risk perception patterns, and emerging financial priorities.
• Explores the role of technology—InsurTech, digitization, and analytics—in reshaping service delivery and product design.
• Includes case studies and scenario-based discussions to deepen understanding of market realities.

This book is ideal for students, researchers, policy analysts, insurance professionals, and anyone seeking a clear understanding of India’s life insurance sector and its broader economic relevance.

CHAPTER 1

Introduction to Life Insurance and Basic Concepts – p.1

CHAPTER 2

Origin, Growth, and Development of Life Insurance in India – p.16

CHAPTER 3

Life Insurance – Nature and Scope – p.40

CHAPTER 4

General Principles of Insurance Contracts – p.61

CHAPTER 5

The Concept of Risks in Life Insurance – p.71

CHAPTER 6

An Examination of Events Leading to Life Insurance Claims – p.95

CHAPTER 7

Life Insurance Contracts in India: Conditions, Execution, and Termination – p.102

CHAPTER 8

Legislative and Regulatory Framework of Life Insurance in India – p.139

CHAPTER 9

Money Laundering in the Insurance Industry: Risks, Challenges, and Regulatory Measures – p.149

CHAPTER 10

Law Relating to Agents and Intermediaries in India – p.159

CHAPTER 11

Grievance Redressal Mechanism of the Insurance Industry – p.170

CHAPTER 12

Technology and Digitalization in Insurance – p.179

CHAPTER 13

Recent Trends of Life Insurance in India: Business Growth and Recent Trends – p.210

CHAPTER 14

Advantages, Challenges, and Opportunities in Life Insurance Sector in India – p.220

CHAPTER 15

Constitutional and Judicial Perspectives on Life Insurance as a Social Security Measure – p.230

CHAPTER 16

Enhancing Regulatory Frameworks for a Resilient Life Insurance Sector in India – p.242

Bibliography – p.262

Index – p.264