A Study on Life Insurance Corporation

INTRODUCTION : The story of damages is probably as sexagenarian as the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in crude(a) men also. They too sought to avert the evil consequences of kick up and flood and loss of life and were willing to make nigh sort of sacrifice in sanctify to achieve security. though the concept of damages is largely a development of the juvenile past, particularly after the industrial era past some centuries yet its beginnings date back almost 6000 years. sustenance insurance in its modern form came to India from England in the year 1818. eastern Life indemnification Company started by Europeans in Calcutta was the prototypic life insurance company on Indian Soil. entirely the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were non being insured by these companies. However, later with the efforts of eminent race like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub-standard lives and ponderous extra premiums were being charged on them.

Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and cover Indian lives at normal rates. Starting as Indian enterprise with highly patriotic motives, insurance companies came into existence to bring the message of insurance and social security through insurance to various sectors of society. Bharat Insurance Company (1896) was also one of such(prenominal) companies inspired by nationalism. The Swadeshi movement of 1905-1907 gave rise to more insurance companies. The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in 1906. In 1907, Hindustan Co-operative Insurance Company took its birth in one of the entourage of the Jorasanko, house of... If you want to get a full essay, order it on our website: Ordercustompaper.com

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