Abstract
Investments are both important and useful in the context of present day conditions of the economy. It is a common saying “One paisa saved is one paisa earned”. Life is a roller coaster ride and is full of twists and turns. Insurance policies are to safeguard against the uncertainties of life. The insurance principle comes to be more and more used and useful in modern affairs. Not only does it serve the ends of individuals, or groups, it tends to pervade and to transform modern social order, too. At this juncture, the extent to which Life Insurance goes to attract the investors has been undertaken in this study. The analysis of the data evidenced that investment were not determined by either income or education of the respondents, instead they understood the necessity of investment in life insurance for their future requirements which is said to be forced Investment. So, it has been concluded that making sound investment decision requires both knowledge and skill apart from other factors.
Highlights
Insurance is a cooperative device to spread the loss caused by a particular risk over a number of persons who are expressed to it and who agree to ensure themselves against that risk
Life insurance made its first appearance in England in sixteenth century, the first recorded evidence in England being the policy on life of Williams Gybbons in 1653
India’s life insurance sector is the biggest in the world with about 360 million policies which are expected to increase at a Compound Annual Growth Rate (CAGR) of 12-15 per cent over the five years
Summary
Insurance is a cooperative device to spread the loss caused by a particular risk over a number of persons who are expressed to it and who agree to ensure themselves against that risk. The insurance principle comes to be more and more used and useful in modern affairs. Does it serve the ends of individuals, or of special groups of individuals, it tends to pervade and to transform modern social order, too. It had been originated in Germany in the beginning of the sixteenth century. The significance of the insurance is limited to an individual or to a family alone but it has spread over the entire nervous system of a business or say the country as a whole
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