Indian Journal of Finance
By: Associated Management Consultants (P) Ltd.Single Issue
Single Issue
- IJF-Oct07-Article6-Trading of Life Insurance Policies- A Critical Study
- Price : 80.00
- Published on October 2, 2007
- Associated Management Consultants (P) Ltd.
- Issues 356
- Language - English
- Published daily
About this issue
Life Insurance is a contract for the payment of a sum of money to the person assured (or nominee) on the happening of the event insured against. Usually the contract provides for the payment of an amount of money on the date of maturity or at specific dates at periodic intervals or an unfortunate death, if it occurs earlier. It is said to be superior to other forms of savings because of protection, aid to thrift, liquidity, tax relief etc. Any person who has attended majority is eligible to enter into a valid contract can take out a life insurance policy for himself/herself and for those in whom he or she has insurable interest. In India, Life Insurance Corporation of India Ltd. (LIC) is the biggest company dealing in life insurance business. LIC was established as a statutory corporation under the Life Insurance Corporation Act of the Parliament which received the consent of the Government on 18th June 1956. The Act came into force on 1st July 1956 and the Corporation began to function w.e.f. 1st September 1956, since then carrying on life insurance business in India.
About Indian Journal of Finance
Indian Journal of Finance, a source of sophisticated analysis of developments in the rapidly expanding world of finance, is a monthly journal with topics ranging from corporate to personal finance, insurance to financial economics and derivatives.