About 'public accounts committee india'|...IAASTD show that GMOs are undesirable- not only in centres of origin (as India is for Brinjal) but also for solving hunger or solving poverty...
Ｔｈｅ ｓｔｏｒｙ ｏｆ ｉｎｓｕｒａｎｃｅ ｉｓ ｐｒｏｂａｂｌｙ ａｓ ｏｌｄ ａｓ ｔｈｅ ｓｔｏｒｙ ｏｆ ｍａｎｋｉｎｄ. Ｔｈｅ ｓａｍｅ ｉｎｓｔｉｎｃｔ ｔｈａｔ ｐｒｏｍｐｔｓ ｍｏｄｅｒｎ ｂｕｓｉｎｅｓｓｍｅｎ ｔｏｄａｙ ｔｏ ｓｅｃｕｒｅ ｔｈｅｍｓｅｌｖｅｓ ａｇａｉｎｓｔ ｌｏｓｓ ａｎｄ ｄｉｓａｓｔｅｒ ｅｘｉｓｔｅｄ ｉｎ ｐｒｉｍｉｔｉｖｅ ｍｅｎ ａｌｓｏ. Ｔｈｅｙ ｔｏｏ ｓｏｕｇｈｔ ｔｏ ａｖｅｒｔ ｔｈｅ ｅｖｉｌ ｃｏｎｓｅｑｕｅｎｃｅｓ ｏｆ ｆｉｒｅ ａｎｄ ｆｌｏｏｄ ａｎｄ ｌｏｓｓ ｏｆ ｌｉｆｅ ａｎｄ ｗｅｒｅ ｗｉｌｌｉｎｇ ｔｏ ｍａｋｅ ｓｏｍｅ ｓｏｒｔ ｏｆ ｓａｃｒｉｆｉｃｅ ｉｎ ｏｒｄｅｒ ｔｏ ａｃｈｉｅｖｅ ｓｅｃｕｒｉｔｙ. Ｔｈｏｕｇｈ ｔｈｅ ｃｏｎｃｅｐｔ ｏｆ ｉｎｓｕｒａｎｃｅ ｉｓ ｌａｒｇｅｌｙ ａ ｄｅｖｅｌｏｐｍｅｎｔ ｏｆ ｔｈｅ ｒｅｃｅｎｔ ｐａｓｔ, ｐａｒｔｉｃｕｌａｒｌｙ ａｆｔｅｒ ｔｈｅ ｉｎｄｕｓｔｒｉａｌ ｅｒａ - ｐａｓｔ ｆｅｗ ｃｅｎｔｕｒｉｅｓ - ｙｅｔ ｉｔｓ ｂｅｇｉｎｎｉｎｇｓ ｄａｔｅ ｂａｃｋ ａｌｍｏｓｔ 6000 ｙｅａｒｓ. Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ ｉｎ ｉｔｓ ｍｏｄｅｒｎ ｆｏｒｍ ｃａｍｅ ｔｏ Ｉｎｄｉａ ｆｒｏｍ Ｅｎｇｌａｎｄ ｉｎ ｔｈｅ ｙｅａｒ 1818. Ｏｒｉｅｎｔａｌ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ ｓｔａｒｔｅｄ ｂｙ Ｅｕｒｏｐｅａｎｓ ｉｎ Ｃａｌｃｕｔｔａ ｗａｓ ｔｈｅ ｆｉｒｓｔ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｙ ｏｎ Ｉｎｄｉａｎ Ｓｏｉｌ. Ａｌｌ 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 ｎｏｔ ｂｅｉｎｇ ｉｎｓｕｒｅｄ ｂｙ ｔｈｅｓｅ ｃｏｍｐａｎｉｅｓ. Ｈｏｗｅｖｅｒ, ｌａｔｅｒ ｗｉｔｈ ｔｈｅ ｅｆｆｏｒｔｓ ｏｆ ｅｍｉｎｅｎｔ ｐｅｏｐｌｅ ｌｉｋｅ Ｂａｂｕ Ｍｕｔｔｙｌａｌ Ｓｅａｌ, ｔｈｅ ｆｏｒｅｉｇｎ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｉｅｓ ｓｔａｒｔｅｄ ｉｎｓｕｒｉｎｇ Ｉｎｄｉａｎ ｌｉｖｅｓ. Ｂｕｔ Ｉｎｄｉａｎ ｌｉｖｅｓ ｗｅｒｅ ｂｅｉｎｇ ｔｒｅａｔｅｄ ａｓ ｓｕｂ-ｓｔａｎｄａｒｄ ｌｉｖｅｓ ａｎｄ ｈｅａｖｙ ｅｘｔｒａ ｐｒｅｍｉｕｍｓ ｗｅｒｅ ｂｅｉｎｇ ｃｈａｒｇｅｄ ｏｎ ｔｈｅｍ. Ｔｈｅ Ｂｏｍｂａｙ Ｍｕｔｕａｌ Ｌｉｆｅ Ａｓｓｕｒａｎｃｅ Ｓｏｃｉｅｔｙ ｈｅｒａｌｄｅｄ ｔｈｅ ｂｉｒｔｈ ｏｆ ｆｉｒｓｔ Ｉｎｄｉａｎ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｙ ｉｎ ｔｈｅ ｙｅａｒ 1870, ａｎｄ ｃｏｖｅｒｅｄ Ｉｎｄｉａｎ ｌｉｖｅｓ ａｔ ｎｏｒｍａｌ ｒａｔｅｓ. Ｓｔａｒｔｉｎｇ ａｓ Ｉｎｄｉａｎ ｅｎｔｅｒｐｒｉｓｅ ｗｉｔｈ ｈｉｇｈｌｙ ｐａｔｒｉｏｔｉｃ ｍｏｔｉｖｅｓ, ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｉｅｓ ｃａｍｅ ｉｎｔｏ ｅｘｉｓｔｅｎｃｅ ｔｏ ｃａｒｒｙ ｔｈｅ ｍｅｓｓａｇｅ ｏｆ ｉｎｓｕｒａｎｃｅ ａｎｄ ｓｏｃｉａｌ ｓｅｃｕｒｉｔｙ ｔｈｒｏｕｇｈ ｉｎｓｕｒａｎｃｅ ｔｏ ｖａｒｉｏｕｓ ｓｅｃｔｏｒｓ ｏｆ ｓｏｃｉｅｔｙ. Ｂｈａｒａｔ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ (1896) ｗａｓ ａｌｓｏ ｏｎｅ ｏｆ ｓｕｃｈ 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 ｒｏｏｍｓ ｏｆ ｔｈｅ Ｊｏｒａｓａｎｋｏ, ｈｏｕｓｅ ｏｆ ｔｈｅ ｇｒｅａｔ ｐｏｅｔ Ｒａｂｉｎｄｒａｎａｔｈ Ｔａｇｏｒｅ, ｉｎ Ｃａｌｃｕｔｔａ. Ｔｈｅ Ｉｎｄｉａｎ Ｍｅｒｃａｎｔｉｌｅ, Ｇｅｎｅｒａｌ Ａｓｓｕｒａｎｃｅ ａｎｄ Ｓｗａｄｅｓｈｉ Ｌｉｆｅ (ｌａｔｅｒ Ｂｏｍｂａｙ Ｌｉｆｅ) ｗｅｒｅ ｓｏｍｅ ｏｆ ｔｈｅ ｃｏｍｐａｎｉｅｓ ｅｓｔａｂｌｉｓｈｅｄ ｄｕｒｉｎｇ ｔｈｅ ｓａｍｅ ｐｅｒｉｏｄ. Ｐｒｉｏｒ ｔｏ 1912 Ｉｎｄｉａ ｈａｄ ｎｏ ｌｅｇｉｓｌａｔｉｏｎ ｔｏ ｒｅｇｕｌａｔｅ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. Ｉｎ ｔｈｅ ｙｅａｒ 1912, ｔｈｅ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｉｅｓ Ａｃｔ, ａｎｄ ｔｈｅ Ｐｒｏｖｉｄｅｎｔ Ｆｕｎｄ Ａｃｔ ｗｅｒｅ ｐａｓｓｅｄ. Ｔｈｅ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｉｅｓ Ａｃｔ, 1912 ｍａｄｅ ｉｔ ｎｅｃｅｓｓａｒｙ ｔｈａｔ ｔｈｅ ｐｒｅｍｉｕｍ ｒａｔｅ ｔａｂｌｅｓ ａｎｄ ｐｅｒｉｏｄｉｃａｌ ｖａｌｕａｔｉｏｎｓ ｏｆ ｃｏｍｐａｎｉｅｓ ｓｈｏｕｌｄ ｂｅ ｃｅｒｔｉｆｉｅｄ ｂｙ ａｎ ａｃｔｕａｒｙ. Ｂｕｔ ｔｈｅ Ａｃｔ ｄｉｓｃｒｉｍｉｎａｔｅｄ ｂｅｔｗｅｅｎ ｆｏｒｅｉｇｎ ａｎｄ Ｉｎｄｉａｎ ｃｏｍｐａｎｉｅｓ ｏｎ ｍａｎｙ ａｃｃｏｕｎｔｓ, ｐｕｔｔｉｎｇ ｔｈｅ Ｉｎｄｉａｎ ｃｏｍｐａｎｉｅｓ ａｔ ａ ｄｉｓａｄｖａｎｔａｇｅ. Ｔｈｅ ｆｉｒｓｔ ｔｗｏ ｄｅｃａｄｅｓ ｏｆ ｔｈｅ ｔｗｅｎｔｉｅｔｈ ｃｅｎｔｕｒｙ ｓａｗ ｌｏｔ ｏｆ ｇｒｏｗｔｈ ｉｎ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. Ｆｒｏｍ 44 ｃｏｍｐａｎｉｅｓ ｗｉｔｈ ｔｏｔａｌ ｂｕｓｉｎｅｓｓ-ｉｎ-ｆｏｒｃｅ ａｓ Ｒｓ.22.44 Ｃｒｏｒｅ, ｉｔ ｒｏｓｅ ｔｏ 176 ｃｏｍｐａｎｉｅｓ ｗｉｔｈ ｔｏｔａｌ ｂｕｓｉｎｅｓｓ-ｉｎ-ｆｏｒｃｅ ａｓ Ｒｓ.298 Ｃｒｏｒｅ ｉｎ 1938. Ｄｕｒｉｎｇ ｔｈｅ ｍｕｓｈｒｏｏｍｉｎｇ ｏｆ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｉｅｓ ｍａｎｙ ｆｉｎａｎｃｉａｌｌｙ ｕｎｓｏｕｎｄ ｃｏｎｃｅｒｎｓ ｗｅｒｅ ａｌｓｏ ｆｌｏａｔｅｄ ｗｈｉｃｈ ｆａｉｌｅｄ ｍｉｓｅｒａｂｌｙ. Ｔｈｅ Ｉｎｓｕｒａｎｃｅ Ａｃｔ 1938 ｗａｓ ｔｈｅ ｆｉｒｓｔ ｌｅｇｉｓｌａｔｉｏｎ ｇｏｖｅｒｎｉｎｇ ｎｏｔ ｏｎｌｙ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｂｕｔ ａｌｓｏ ｎｏｎ-ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｔｏ ｐｒｏｖｉｄｅ ｓｔｒｉｃｔ ｓｔａｔｅ ｃｏｎｔｒｏｌ ｏｖｅｒ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. Ｔｈｅ ｄｅｍａｎｄ ｆｏｒ ｎａｔｉｏｎａｌｉｓａｔｉｏｎ ｏｆ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｎｄｕｓｔｒｙ ｗａｓ ｍａｄｅ ｒｅｐｅａｔｅｄｌｙ ｉｎ ｔｈｅ ｐａｓｔ ｂｕｔ ｉｔ ｇａｔｈｅｒｅｄ ｍｏｍｅｎｔｕｍ ｉｎ 1944 ｗｈｅｎ ａ ｂｉｌｌ ｔｏ ａｍｅｎｄ ｔｈｅ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ａｃｔ 1938 ｗａｓ ｉｎｔｒｏｄｕｃｅｄ ｉｎ ｔｈｅ Ｌｅｇｉｓｌａｔｉｖｅ Ａｓｓｅｍｂｌｙ. ＬＩＦＥ ＩＮＳＵＲＡＮＣＥ ＣＯＲＰＯＲＡＴＩＯＮ ＯＦ ＩＮＤＩＡ Ｈｏｗｅｖｅｒ, ｉｔ ｗａｓ ｍｕｃｈ ｌａｔｅｒ ｏｎ ｔｈｅ 19ｔｈ ｏｆ Ｊａｎｕａｒｙ, 1956, ｔｈａｔ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｎ Ｉｎｄｉａ ｗａｓ ｎａｔｉｏｎａｌｉｓｅｄ. Ａｂｏｕｔ 154 Ｉｎｄｉａｎ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｉｅｓ, 16 ｎｏｎ-Ｉｎｄｉａｎ ｃｏｍｐａｎｉｅｓ ａｎｄ 75 ｐｒｏｖｉｄｅｎｔ ｗｅｒｅ ｏｐｅｒａｔｉｎｇ ｉｎ Ｉｎｄｉａ ａｔ ｔｈｅ ｔｉｍｅ ｏｆ ｎａｔｉｏｎａｌｉｓａｔｉｏｎ. Ｎａｔｉｏｎａｌｉｓａｔｉｏｎ ｗａｓ ａｃｃｏｍｐｌｉｓｈｅｄ ｉｎ ｔｗｏ ｓｔａｇｅｓ; ｉｎｉｔｉａｌｌｙ ｔｈｅ ｍａｎａｇｅｍｅｎｔ ｏｆ ｔｈｅ ｃｏｍｐａｎｉｅｓ ｗａｓ ｔａｋｅｎ ｏｖｅｒ ｂｙ ｍｅａｎｓ ｏｆ ａｎ Ｏｒｄｉｎａｎｃｅ, ａｎｄ ｌａｔｅｒ, ｔｈｅ ｏｗｎｅｒｓｈｉｐ ｔｏｏ ｂｙ ｍｅａｎｓ ｏｆ ａ ｃｏｍｐｒｅｈｅｎｓｉｖｅ ｂｉｌｌ. Ｔｈｅ Ｐａｒｌｉａｍｅｎｔ ｏｆ Ｉｎｄｉａ ｐａｓｓｅｄ ｔｈｅ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｒｐｏｒａｔｉｏｎ Ａｃｔ ｏｎ ｔｈｅ 19ｔｈ ｏｆ Ｊｕｎｅ 1956, ａｎｄ ｔｈｅ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｒｐｏｒａｔｉｏｎ ｏｆ Ｉｎｄｉａ (ＬＩＣＩ) ｗａｓ ｃｒｅａｔｅｄ ｏｎ 1ｓｔ Ｓｅｐｔｅｍｂｅｒ, 1956, ｗｉｔｈ ｔｈｅ ｏｂｊｅｃｔｉｖｅ ｏｆ ｓｐｒｅａｄｉｎｇ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｍｕｃｈ ｍｏｒｅ ｗｉｄｅｌｙ ａｎｄ ｉｎ ｐａｒｔｉｃｕｌａｒ ｔｏ ｔｈｅ ｒｕｒａｌ ａｒｅａｓ ｗｉｔｈ ａ ｖｉｅｗ ｔｏ ｒｅａｃｈ ａｌｌ ｉｎｓｕｒａｂｌｅ ｐｅｒｓｏｎｓ ｉｎ ｔｈｅ ｃｏｕｎｔｒｙ, ｐｒｏｖｉｄｉｎｇ ｔｈｅｍ ａｄｅｑｕａｔｅ ｆｉｎａｎｃｉａｌ ｃｏｖｅｒ ａｔ ａ ｒｅａｓｏｎａｂｌｅ ｃｏｓｔ. ＬＩＣＩ ｈａｄ 5 ｚｏｎａｌ ｏｆｆｉｃｅｓ, 33 ｄｉｖｉｓｉｏｎａｌ ｏｆｆｉｃｅｓ ａｎｄ 212 ｂｒａｎｃｈ ｏｆｆｉｃｅｓ, ａｐａｒｔ ｆｒｏｍ ｉｔｓ ｃｏｒｐｏｒａｔｅ ｏｆｆｉｃｅ ｉｎ ｔｈｅ ｙｅａｒ 1956. Ｓｉｎｃｅ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｎｔｒａｃｔｓ ａｒｅ ｌｏｎｇ ｔｅｒｍ ｃｏｎｔｒａｃｔｓ ａｎｄ ｄｕｒｉｎｇ ｔｈｅ ｃｕｒｒｅｎｃｙ ｏｆ ｔｈｅ ｐｏｌｉｃｙ ｉｔ ｒｅｑｕｉｒｅｓ ａ ｖａｒｉｅｔｙ ｏｆ ｓｅｒｖｉｃｅｓ ｎｅｅｄ ｗａｓ ｆｅｌｔ ｉｎ ｔｈｅ ｌａｔｅｒ ｙｅａｒｓ ｔｏ ｅｘｐａｎｄ ｔｈｅ ｏｐｅｒａｔｉｏｎｓ ａｎｄ ｐｌａｃｅ ａ ｂｒａｎｃｈ ｏｆｆｉｃｅ ａｔ ｅａｃｈ ｄｉｓｔｒｉｃｔ ｈｅａｄｑｕａｒｔｅｒ. Ｒｅ-ｏｒｇａｎｉｓａｔｉｏｎ ｏｆ ＬＩＣＩ ｔｏｏｋ ｐｌａｃｅ ａｎｄ ｌａｒｇｅ ｎｕｍｂｅｒｓ ｏｆ ｎｅｗ ｂｒａｎｃｈ ｏｆｆｉｃｅｓ ｗｅｒｅ ｏｐｅｎｅｄ. Ａｓ ａ ｒｅｓｕｌｔ ｏｆ ｒｅ-ｏｒｇａｎｉｓａｔｉｏｎ ｓｅｒｖｉｃｉｎｇ ｆｕｎｃｔｉｏｎｓ ｗｅｒｅ ｔｒａｎｓｆｅｒｒｅｄ ｔｏ ｔｈｅ ｂｒａｎｃｈｅｓ, ａｎｄ ｂｒａｎｃｈｅｓ ｗｅｒｅ ｍａｄｅ ａｃｃｏｕｎｔｉｎｇ ｕｎｉｔｓ. Ｉｔ ｗｏｒｋｅｄ ｗｏｎｄｅｒｓ ｗｉｔｈ ｔｈｅ ｐｅｒｆｏｒｍａｎｃｅ ｏｆ ｔｈｅ ｃｏｒｐｏｒａｔｉｏｎ. Ｉｔ ｍａｙ ｂｅ ｓｅｅｎ ｔｈａｔ ｆｒｏｍ ａｂｏｕｔ 200 Ｃｒｏｒｅｓ ｏｆ Ｎｅｗ Ｂｕｓｉｎｅｓｓ ｉｎ 1957 ｔｈｅ ｃｏｒｐｏｒａｔｉｏｎ ｃｒｏｓｓｅｄ 1000 Ｃｒｏｒｅｓ ｏｎｌｙ ｉｎ ｔｈｅ ｙｅａｒ 1969-70, ａｎｄ ｉｔ ｔｏｏｋ ａｎｏｔｈｅｒ 10 ｙｅａｒｓ ｆｏｒ ＬＩＣＩ ｔｏ ｃｒｏｓｓ 2000 Ｃｒｏｒｅ ｍａｒｋ ｏｆ ｎｅｗ ｂｕｓｉｎｅｓｓ. Ｂｕｔ ｗｉｔｈ ｒｅ-ｏｒｇａｎｉｓａｔｉｏｎ ｈａｐｐｅｎｉｎｇ ｉｎ ｔｈｅ ｅａｒｌｙ ｅｉｇｈｔｉｅｓ, ｂｙ 1985-86 ＬＩＣＩ ｈａｄ ａｌｒｅａｄｙ ｃｒｏｓｓｅｄ 7000 Ｃｒｏｒｅ Ｓｕｍ Ａｓｓｕｒｅｄ ｏｎ ｎｅｗ ｐｏｌｉｃｉｅｓ. Ｔｏｄａｙ ＬＩＣＩ ｆｕｎｃｔｉｏｎｓ ｗｉｔｈ 2048 ｆｕｌｌｙ ｃｏｍｐｕｔｅｒｉｓｅｄ ｂｒａｎｃｈ ｏｆｆｉｃｅｓ, 100 ｄｉｖｉｓｉｏｎａｌ ｏｆｆｉｃｅｓ, 7 ｚｏｎａｌ ｏｆｆｉｃｅｓ ａｎｄ ｔｈｅ ｃｏｒｐｏｒａｔｅ ｏｆｆｉｃｅ. ＬＩＣＩ'ｓ Ｗｉｄｅ Ａｒｅａ Ｎｅｔｗｏｒｋ ｃｏｖｅｒｓ 100 ｄｉｖｉｓｉｏｎａｌ ｏｆｆｉｃｅｓ ａｎｄ ｃｏｎｎｅｃｔｓ ａｌｌ ｔｈｅ ｂｒａｎｃｈｅｓ ｔｈｒｏｕｇｈ ａ Ｍｅｔｒｏ Ａｒｅａ Ｎｅｔｗｏｒｋ. ＬＩＣＩ ｈａｓ ｔｉｅｄ ｕｐ ｗｉｔｈ ｓｏｍｅ Ｂａｎｋｓ ａｎｄ Ｓｅｒｖｉｃｅ ｐｒｏｖｉｄｅｒｓ ｔｏ ｏｆｆｅｒ ｏｎ-ｌｉｎｅ ｐｒｅｍｉｕｍ ｃｏｌｌｅｃｔｉｏｎ ｆａｃｉｌｉｔｙ ｉｎ ｓｅｌｅｃｔｅｄ ｃｉｔｉｅｓ. ＬＩＣＩ'ｓ ＥＣＳ ａｎｄ ＡＴＭ ｐｒｅｍｉｕｍ ｐａｙｍｅｎｔ ｆａｃｉｌｉｔｙ ｉｓ ａｎ ａｄｄｉｔｉｏｎ ｔｏ ｃｕｓｔｏｍｅｒ ｃｏｎｖｅｎｉｅｎｃｅ. Ａｐａｒｔ ｆｒｏｍ ｏｎ-ｌｉｎｅ Ｋｉｏｓｋｓ ａｎｄ ＩＶＲＳ, Ｉｎｆｏ Ｃｅｎｔｒｅｓ ｈａｖｅ ｂｅｅｎ ｃｏｍｍｉｓｓｉｏｎｅｄ ａｔ Ｍｕｍｂａｉ, Ａｈｍｅｄａｂａｄ, Ｂａｎｇａｌｏｒｅ, Ｃｈｅｎｎａｉ, Ｈｙｄｅｒａｂａｄ, Ｋｏｌｋａｔａ, Ｎｅｗ Ｄｅｌｈｉ, Ｐｕｎｅ ａｎｄ ｍａｎｙ ｏｔｈｅｒ ｃｉｔｉｅｓ. Ｗｉｔｈ ａ ｖｉｓｉｏｎ ｏｆ ｐｒｏｖｉｄｉｎｇ ｅａｓｙ ａｃｃｅｓｓ ｔｏ ｉｔｓ ｐｏｌｉｃｙｈｏｌｄｅｒｓ, ＬＩＣＩ ｈａｓ ｌａｕｎｃｈｅｄ ｉｔｓ ＳＡＴＥＬＬＩＴＥ ＳＡＭＰＡＲＫ ｏｆｆｉｃｅｓ. Ｔｈｅ ｓａｔｅｌｌｉｔｅ ｏｆｆｉｃｅｓ ａｒｅ ｓｍａｌｌｅｒ, ｌｅａｎｅｒ ａｎｄ ｃｌｏｓｅｒ ｔｏ ｔｈｅ ｃｕｓｔｏｍｅｒ. Ｔｈｅ ｄｉｇｉｔａｌｉｓｅｄ ｒｅｃｏｒｄｓ ｏｆ ｔｈｅ ｓａｔｅｌｌｉｔｅ ｏｆｆｉｃｅｓ ｗｉｌｌ ｆａｃｉｌｉｔａｔｅ ａｎｙｗｈｅｒｅ ｓｅｒｖｉｃｉｎｇ ａｎｄ ｍａｎｙ ｏｔｈｅｒ ｃｏｎｖｅｎｉｅｎｃｅｓ ｉｎ ｔｈｅ ｆｕｔｕｒｅ. ＬＩＣＩ ｃｏｎｔｉｎｕｅｓ ｔｏ ｂｅ ｔｈｅ ｄｏｍｉｎａｎｔ ｌｉｆｅ ｉｎｓｕｒｅｒ ｅｖｅｎ ｉｎ ｔｈｅ ｌｉｂｅｒａｌｉｓｅｄ ｓｃｅｎａｒｉｏ ｏｆ Ｉｎｄｉａｎ ｉｎｓｕｒａｎｃｅ ａｎｄ ｉｓ ｍｏｖｉｎｇ ｆａｓｔ ｏｎ ａ ｎｅｗ ｇｒｏｗｔｈ ｔｒａｊｅｃｔｏｒｙ ｓｕｒｐａｓｓｉｎｇ ｉｔｓ ｏｗｎ ｐａｓｔ ｒｅｃｏｒｄｓ. ＬＩＣＩ ｈａｓ ｉｓｓｕｅｄ ｏｖｅｒ ｏｎｅ Ｃｒｏｒｅ ｐｏｌｉｃｉｅｓ ｄｕｒｉｎｇ ｔｈｅ ｃｕｒｒｅｎｔ ｙｅａｒ. Ｉｔ ｈａｓ ｃｒｏｓｓｅｄ ｔｈｅ ｍｉｌｅｓｔｏｎｅ ｏｆ ｉｓｓｕｉｎｇ 1,01,32,955 ｎｅｗ ｐｏｌｉｃｉｅｓ ｂｙ 15ｔｈ Ｏｃｔ, 2005, ｐｏｓｔｉｎｇ ａ ｈｅａｌｔｈｙ ｇｒｏｗｔｈ ｒａｔｅ ｏｆ 16.67% ｏｖｅｒ ｔｈｅ ｃｏｒｒｅｓｐｏｎｄｉｎｇ ｐｅｒｉｏｄ ｏｆ ｔｈｅ ｐｒｅｖｉｏｕｓ ｙｅａｒ. Ｆｒｏｍ ｔｈｅｎ ｔｏ ｎｏｗ, ＬＩＣＩ ｈａｓ ｃｒｏｓｓｅｄ ｍａｎｙ ｍｉｌｅｓｔｏｎｅｓ ａｎｄ ｈａｓ ｓｅｔ ｕｎｐｒｅｃｅｄｅｎｔｅｄ ｐｅｒｆｏｒｍａｎｃｅ ｒｅｃｏｒｄｓ ｉｎ ｖａｒｉｏｕｓ ａｓｐｅｃｔｓ ｏｆ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. Ｔｈｅ ｓａｍｅ ｍｏｔｉｖｅｓ ｗｈｉｃｈ ｉｎｓｐｉｒｅｄ ｏｕｒ ｆｏｒｅｆａｔｈｅｒｓ ｔｏ ｂｒｉｎｇ ｉｎｓｕｒａｎｃｅ ｉｎｔｏ ｅｘｉｓｔｅｎｃｅ ｉｎ ｔｈｉｓ ｃｏｕｎｔｒｙ ｉｎｓｐｉｒｅ ｕｓ ａｔ ＬＩＣＩ ｔｏ ｔａｋｅ ｔｈｉｓ ｍｅｓｓａｇｅ ｏｆ ｐｒｏｔｅｃｔｉｏｎ ｔｏ ｌｉｇｈｔ ｔｈｅ ｌａｍｐｓ ｏｆ ｓｅｃｕｒｉｔｙ ｉｎ ａｓ ｍａｎｙ ｈｏｍｅｓ ａｓ ｐｏｓｓｉｂｌｅ ａｎｄ ｔｏ ｈｅｌｐ ｔｈｅ ｐｅｏｐｌｅ ｉｎ ｐｒｏｖｉｄｉｎｇ ｓｅｃｕｒｉｔｙ ｔｏ ｔｈｅｉｒ ｆａｍｉｌｉｅｓ. ＴＨＥ ＭＩＬＥＳＴＯＮＥＳ ＩＮ ＩＮＤＩＡＮ ＩＮＳＵＲＡＮＣＥ ＳＥＣＴＯＲ Ｓｏｍｅ ｏｆ ｔｈｅ ｉｍｐｏｒｔａｎｔ ｍｉｌｅｓｔｏｎｅｓ ｉｎ ｔｈｅ ＬＩＦＥ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ ｉｎ Ｉｎｄｉａ ａｒｅ: 1818: Ｏｒｉｅｎｔａｌ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ, ｔｈｅ ｆｉｒｓｔ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｙ ｏｎ Ｉｎｄｉａｎ ｓｏｉｌ ｓｔａｒｔｅｄ ｆｕｎｃｔｉｏｎｉｎｇ. 1870: Ｂｏｍｂａｙ Ｍｕｔｕａｌ Ｌｉｆｅ Ａｓｓｕｒａｎｃｅ Ｓｏｃｉｅｔｙ, ｔｈｅ ｆｉｒｓｔ Ｉｎｄｉａｎ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｙ ｓｔａｒｔｅｄ ｉｔｓ ｂｕｓｉｎｅｓｓ. 1912: Ｔｈｅ Ｉｎｄｉａｎ Ｌｉｆｅ Ａｓｓｕｒａｎｃｅ Ｃｏｍｐａｎｉｅｓ Ａｃｔ ｅｎａｃｔｅｄ ａｓ ｔｈｅ ｆｉｒｓｔ ｓｔａｔｕｔｅ ｔｏ ｒｅｇｕｌａｔｅ ｔｈｅ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. 1928: Ｔｈｅ Ｉｎｄｉａｎ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｉｅｓ Ａｃｔ ｅｎａｃｔｅｄ ｔｏ ｅｎａｂｌｅ ｔｈｅ ｇｏｖｅｒｎｍｅｎｔ ｔｏ ｃｏｌｌｅｃｔ ｓｔａｔｉｓｔｉｃａｌ ｉｎｆｏｒｍａｔｉｏｎ ａｂｏｕｔ ｂｏｔｈ ｌｉｆｅ ａｎｄ ｎｏｎ-ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓｅｓ. 1938: Ｅａｒｌｉｅｒ ｌｅｇｉｓｌａｔｉｏｎ ｃｏｎｓｏｌｉｄａｔｅｄ ａｎｄ ａｍｅｎｄｅｄ ｔｏ ｂｙ ｔｈｅ Ｉｎｓｕｒａｎｃｅ Ａｃｔ ｗｉｔｈ ｔｈｅ ｏｂｊｅｃｔｉｖｅ ｏｆ ｐｒｏｔｅｃｔｉｎｇ ｔｈｅ ｉｎｔｅｒｅｓｔｓ ｏｆ ｔｈｅ ｉｎｓｕｒｉｎｇ ｐｕｂｌｉｃ. 1956: 245 Ｉｎｄｉａｎ ａｎｄ ｆｏｒｅｉｇｎ ｉｎｓｕｒｅｒｓ ａｎｄ ｐｒｏｖｉｄｅｎｔ ｓｏｃｉｅｔｉｅｓ ａｒｅ ｔａｋｅｎ ｏｖｅｒ ｂｙ ｔｈｅ ｃｅｎｔｒａｌ ｇｏｖｅｒｎｍｅｎｔ ａｎｄ ｎａｔｉｏｎａｌｉｓｅｄ. ＬＩＣＩ ｆｏｒｍｅｄ ｂｙ ａｎ Ａｃｔ ｏｆ Ｐａｒｌｉａｍｅｎｔ, ｖｉｚ. ＬＩＣＩ Ａｃｔ, 1956, ｗｉｔｈ ａ ｃａｐｉｔａｌ ｃｏｎｔｒｉｂｕｔｉｏｎ ｏｆ Ｒｓ. 5 Ｃｒｏｒｅ ｆｒｏｍ ｔｈｅ Ｇｏｖｅｒｎｍｅｎｔ ｏｆ Ｉｎｄｉａ. Ｔｈｅ Ｇｅｎｅｒａｌ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ ｉｎ Ｉｎｄｉａ, ｏｎ ｔｈｅ ｏｔｈｅｒ ｈａｎｄ, ｃａｎ ｔｒａｃｅ ｉｔｓ ｒｏｏｔｓ ｔｏ ｔｈｅ Ｔｒｉｔｏｎ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ Ｌｔｄ., ｔｈｅ ｆｉｒｓｔ ｇｅｎｅｒａｌ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｙ ｅｓｔａｂｌｉｓｈｅｄ ｉｎ ｔｈｅ ｙｅａｒ 1850 ｉｎ Ｃａｌｃｕｔｔａ ｂｙ ｔｈｅ Ｂｒｉｔｉｓｈ. Ｓｏｍｅ ｏｆ ｔｈｅ ｉｍｐｏｒｔａｎｔ ｍｉｌｅｓｔｏｎｅｓ ｉｎ ｔｈｅ ＧＥＮＥＲＡＬ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ ｉｎ Ｉｎｄｉａ ａｒｅ: 1907: Ｔｈｅ Ｉｎｄｉａｎ Ｍｅｒｃａｎｔｉｌｅ Ｉｎｓｕｒａｎｃｅ Ｌｔｄ. ｓｅｔ ｕｐ, ｔｈｅ ｆｉｒｓｔ ｃｏｍｐａｎｙ ｔｏ ｔｒａｎｓａｃｔ ａｌｌ ｃｌａｓｓｅｓ ｏｆ ｇｅｎｅｒａｌ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ. 1957: Ｇｅｎｅｒａｌ Ｉｎｓｕｒａｎｃｅ Ｃｏｕｎｃｉｌ, ａ ｗｉｎｇ ｏｆ ｔｈｅ Ｉｎｓｕｒａｎｃｅ Ａｓｓｏｃｉａｔｉｏｎ ｏｆ Ｉｎｄｉａ, ｆｒａｍｅｓ ａ ｃｏｄｅ ｏｆ ｃｏｎｄｕｃｔ ｆｏｒ ｅｎｓｕｒｉｎｇ ｆａｉｒ ｃｏｎｄｕｃｔ ａｎｄ ｓｏｕｎｄ ｂｕｓｉｎｅｓｓ ｐｒａｃｔｉｃｅｓ. 1968: Ｔｈｅ Ｉｎｓｕｒａｎｃｅ Ａｃｔ ａｍｅｎｄｅｄ ｔｏ ｒｅｇｕｌａｔｅ ｉｎｖｅｓｔｍｅｎｔｓ ａｎｄ ｓｅｔ ｍｉｎｉｍｕｍ ｓｏｌｖｅｎｃｙ ｍａｒｇｉｎｓ ａｎｄ ｔｈｅ Ｔａｒｉｆｆ Ａｄｖｉｓｏｒｙ Ｃｏｍｍｉｔｔｅｅ ｓｅｔ ｕｐ. 1972: Ｔｈｅ Ｇｅｎｅｒａｌ Ｉｎｓｕｒａｎｃｅ Ｂｕｓｉｎｅｓｓ (Ｎａｔｉｏｎａｌｉｓａｔｉｏｎ) Ａｃｔ, 1972 ｎａｔｉｏｎａｌｉｓｅｄ ｔｈｅ ｇｅｎｅｒａｌ ｉｎｓｕｒａｎｃｅ ｂｕｓｉｎｅｓｓ ｉｎ Ｉｎｄｉａ ｗｉｔｈ ｅｆｆｅｃｔ ｆｒｏｍ 1ｓｔ Ｊａｎｕａｒｙ 1973. 107 ｉｎｓｕｒｅｒｓ ａｍａｌｇａｍａｔｅｄ ａｎｄ ｇｒｏｕｐｅｄ ｉｎｔｏ ｆｏｕｒ ｃｏｍｐａｎｉｅｓ ｖｉｚ. ｔｈｅ Ｎａｔｉｏｎａｌ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ Ｌｔｄ., ｔｈｅ Ｎｅｗ Ｉｎｄｉａ Ａｓｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ Ｌｔｄ., ｔｈｅ Ｏｒｉｅｎｔａｌ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ Ｌｔｄ. ａｎｄ ｔｈｅ Ｕｎｉｔｅｄ Ｉｎｄｉａ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｙ Ｌｔｄ. ＧＩＣ ｉｎｃｏｒｐｏｒａｔｅｄ ａｓ ａ ｃｏｍｐａｎｙ. ＯＢＪＥＣＴＩＶＥＳ ＯＦ ＬＩＣＩ Ｓｐｒｅａｄ Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ ｗｉｄｅｌｙ ａｎｄ ｉｎ ｐａｒｔｉｃｕｌａｒ ｔｏ ｔｈｅ ｒｕｒａｌ ａｒｅａｓ ａｎｄ ｔｏ ｔｈｅ ｓｏｃｉａｌｌｙ ａｎｄ ｅｃｏｎｏｍｉｃａｌｌｙ ｂａｃｋｗａｒｄ ｃｌａｓｓｅｓ ｗｉｔｈ ａ ｖｉｅｗ ｔｏ ｒｅａｃｈｉｎｇ ａｌｌ ｉｎｓｕｒａｂｌｅ ｐｅｒｓｏｎｓ ｉｎ ｔｈｅ ｃｏｕｎｔｒｙ ａｎｄ ｐｒｏｖｉｄｉｎｇ ｔｈｅｍ ａｄｅｑｕａｔｅ ｆｉｎａｎｃｉａｌ ｃｏｖｅｒ ａｇａｉｎｓｔ ｄｅａｔｈ ａｔ ａ ｒｅａｓｏｎａｂｌｅ ｃｏｓｔ. Ｍａｘｉｍｉｚｅ ｍｏｂｉｌｉｓａｔｉｏｎ ｏｆ ｐｅｏｐｌｅ'ｓ ｓａｖｉｎｇｓ ｂｙ ｍａｋｉｎｇ ｉｎｓｕｒａｎｃｅ-ｌｉｎｋｅｄ ｓａｖｉｎｇｓ ａｄｅｑｕａｔｅｌｙ ａｔｔｒａｃｔｉｖｅ. Ｂｅａｒ ｉｎ ｍｉｎｄ, ｉｎ ｔｈｅ ｉｎｖｅｓｔｍｅｎｔ ｏｆ ｆｕｎｄｓ, ｔｈｅ ｐｒｉｍａｒｙ ｏｂｌｉｇａｔｉｏｎ ｔｏ ｉｔｓ ｐｏｌｉｃｙｈｏｌｄｅｒｓ, ｗｈｏｓｅ ｍｏｎｅｙ ｉｔ ｈｏｌｄｓ ｉｎ ｔｒｕｓｔ, ｗｉｔｈｏｕｔ ｌｏｓｉｎｇ ｓｉｇｈｔ ｏｆ ｔｈｅ ｉｎｔｅｒｅｓｔ ｏｆ ｔｈｅ ｃｏｍｍｕｎｉｔｙ ａｓ ａ ｗｈｏｌｅ; ｔｈｅ ｆｕｎｄｓ ｔｏ ｂｅ ｄｅｐｌｏｙｅｄ ｔｏ ｔｈｅ ｂｅｓｔ ａｄｖａｎｔａｇｅ ｏｆ ｔｈｅ ｉｎｖｅｓｔｏｒｓ ａｓ ｗｅｌｌ ａｓ ｔｈｅ ｃｏｍｍｕｎｉｔｙ ａｓ ａ ｗｈｏｌｅ, ｋｅｅｐｉｎｇ ｉｎ ｖｉｅｗ ｎａｔｉｏｎａｌ ｐｒｉｏｒｉｔｉｅｓ ａｎｄ ｏｂｌｉｇａｔｉｏｎｓ ｏｆ ａｔｔｒａｃｔｉｖｅ ｒｅｔｕｒｎ. Ｃｏｎｄｕｃｔ ｂｕｓｉｎｅｓｓ ｗｉｔｈ ｕｔｍｏｓｔ ｅｃｏｎｏｍｙ ａｎｄ ｗｉｔｈ ｔｈｅ ｆｕｌｌ ｒｅａｌｉｓａｔｉｏｎ ｔｈａｔ ｔｈｅ ｍｏｎｅｙｓ ｂｅｌｏｎｇ ｔｏ ｔｈｅ ｐｏｌｉｃｙｈｏｌｄｅｒｓ. Ａｃｔ ａｓ ｔｒｕｓｔｅｅｓ ｏｆ ｔｈｅ ｉｎｓｕｒｅｄ ｐｕｂｌｉｃ ｉｎ ｔｈｅｉｒ ｉｎｄｉｖｉｄｕａｌ ａｎｄ ｃｏｌｌｅｃｔｉｖｅ ｃａｐａｃｉｔｉｅｓ. Ｍｅｅｔ ｔｈｅ ｖａｒｉｏｕｓ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｎｅｅｄｓ ｏｆ ｔｈｅ ｃｏｍｍｕｎｉｔｙ ｔｈａｔ ｗｏｕｌｄ ａｒｉｓｅ ｉｎ ｔｈｅ ｃｈａｎｇｉｎｇ ｓｏｃｉａｌ ａｎｄ ｅｃｏｎｏｍｉｃ ｅｎｖｉｒｏｎｍｅｎｔ. Ｉｎｖｏｌｖｅ ａｌｌ ｐｅｏｐｌｅ ｗｏｒｋｉｎｇ ｉｎ ｔｈｅ Ｃｏｒｐｏｒａｔｉｏｎ ｔｏ ｔｈｅ ｂｅｓｔ ｏｆ ｔｈｅｉｒ ｃａｐａｂｉｌｉｔｙ ｉｎ ｆｕｒｔｈｅｒｉｎｇ ｔｈｅ ｉｎｔｅｒｅｓｔｓ ｏｆ ｔｈｅ ｉｎｓｕｒｅｄ ｐｕｂｌｉｃ ｂｙ ｐｒｏｖｉｄｉｎｇ ｅｆｆｉｃｉｅｎｔ ｓｅｒｖｉｃｅ ｗｉｔｈ ｃｏｕｒｔｅｓｙ. Ｐｒｏｍｏｔｅ ａｍｏｎｇｓｔ ａｌｌ ａｇｅｎｔｓ ａｎｄ ｅｍｐｌｏｙｅｅｓ ｏｆ ｔｈｅ Ｃｏｒｐｏｒａｔｉｏｎ ａ ｓｅｎｓｅ ｏｆ ｐａｒｔｉｃｉｐａｔｉｏｎ, ｐｒｉｄｅ ａｎｄ ｊｏｂ ｓａｔｉｓｆａｃｔｉｏｎ ｔｈｒｏｕｇｈ ｄｉｓｃｈａｒｇｅ ｏｆ ｔｈｅｉｒ ｄｕｔｉｅｓ ｗｉｔｈ ｄｅｄｉｃａｔｉｏｎ ｔｏｗａｒｄｓ ａｃｈｉｅｖｅｍｅｎｔ ｏｆ Ｃｏｒｐｏｒａｔｅ Ｏｂｊｅｃｔｉｖｅ. ＫＮＯＷ ＹＯＵＲ ＬＩＦＥ ＩＮＳＵＲＡＮＣＥ 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 ＬＩＣＩ. Ｉｔ ｓｈｏｕｌｄ, ｈｏｗｅｖｅｒ, ｂｅ ｃｌｅａｒｌｙ ｕｎｄｅｒｓｔｏｏｄ ｔｈａｔ ｔｈｅ ｆｏｌｌｏｗｉｎｇ ｃｏｎｔｅｎｔ ｉｓ ｂｙ ｎｏ ｍｅａｎｓ ａｎ ｅｘｈａｕｓｔｉｖｅ ｄｅｓｃｒｉｐｔｉｏｎ ｏｆ ｔｈｅ ｔｅｒｍｓ ａｎｄ ｃｏｎｄｉｔｉｏｎｓ ｏｆ ａｎ ＬＩＣＩ ｐｏｌｉｃｙ ｏｒ ｉｔｓ ｂｅｎｅｆｉｔｓ ｏｒ ｐｒｉｖｉｌｅｇｅｓ. Ｆｏｒ ｍｏｒｅ ｄｅｔａｉｌｓ, ｐｌｅａｓｅ ｃｏｎｔａｃｔ ｏｕｒ ｂｒａｎｃｈ ｏｒ ｄｉｖｉｓｉｏｎａｌ ｏｆｆｉｃｅ. Ａｎｙ ＬＩＣＩ Ａｇｅｎｔ ｗｉｌｌ ｂｅ ｇｌａｄ ｔｏ ｈｅｌｐ ｙｏｕ ｃｈｏｏｓｅ ｔｈｅ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｐｌａｎ ｔｏ ｍｅｅｔ ｙｏｕｒ ｎｅｅｄｓ ａｎｄ ｒｅｎｄｅｒ ｐｏｌｉｃｙ ｓｅｒｖｉｃｉｎｇ. 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. Ｔｈｅ ｃｏｎｔｒａｃｔ ｉｓ ｖａｌｉｄ ｆｏｒ ｐａｙｍｅｎｔ ｏｆ ｔｈｅ ｉｎｓｕｒｅｄ ａｍｏｕｎｔ ｄｕｒｉｎｇ: Ｔｈｅ ｄａｔｅ ｏｆ ｍａｔｕｒｉｔｙ, ｏｒ Ｓｐｅｃｉｆｉｅｄ ｄａｔｅｓ ａｔ ｐｅｒｉｏｄｉｃ ｉｎｔｅｒｖａｌｓ, ｏｒ Ｕｎｆｏｒｔｕｎａｔｅ ｄｅａｔｈ, ｉｆ ｉｔ ｏｃｃｕｒｓ ｅａｒｌｉｅｒ. Ａｍｏｎｇ ｏｔｈｅｒ ｔｈｉｎｇｓ, ｔｈｅ ｃｏｎｔｒａｃｔ ａｌｓｏ ｐｒｏｖｉｄｅｓ ｆｏｒ ｔｈｅ ｐａｙｍｅｎｔ ｏｆ ｐｒｅｍｉｕｍ ｐｅｒｉｏｄｉｃａｌｌｙ ｔｏ ｔｈｅ Ｃｏｒｐｏｒａｔｉｏｎ ｂｙ ｔｈｅ ｐｏｌｉｃｙｈｏｌｄｅｒ. Ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｓ ｕｎｉｖｅｒｓａｌｌｙ ａｃｋｎｏｗｌｅｄｇｅｄ ｔｏ ｂｅ ａｎ ｉｎｓｔｉｔｕｔｉｏｎ, ｗｈｉｃｈ ｅｌｉｍｉｎａｔｅｓ 'ｒｉｓｋ', ｓｕｂｓｔｉｔｕｔｉｎｇ ｃｅｒｔａｉｎｔｙ ｆｏｒ ｕｎｃｅｒｔａｉｎｔｙ ａｎｄ ｃｏｍｅｓ ｔｏ ｔｈｅ ｔｉｍｅｌｙ ａｉｄ ｏｆ ｔｈｅ ｆａｍｉｌｙ ｉｎ ｔｈｅ ｕｎｆｏｒｔｕｎａｔｅ ｅｖｅｎｔ ｏｆ ｄｅａｔｈ ｏｆ ｔｈｅ ｂｒｅａｄｗｉｎｎｅｒ. Ｂｙ ａｎｄ ｌａｒｇｅ, ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｓ ｃｉｖｉｌｉｓａｔｉｏｎ'ｓ ｐａｒｔｉａｌ ｓｏｌｕｔｉｏｎ ｔｏ ｔｈｅ ｐｒｏｂｌｅｍｓ ｃａｕｓｅｄ ｂｙ ｄｅａｔｈ. Ｌｉｆｅ ｉｎｓｕｒａｎｃｅ, ｉｎ ｓｈｏｒｔ, ｉｓ ｃｏｎｃｅｒｎｅｄ ｗｉｔｈ ｔｗｏ ｈａｚａｒｄｓ ｔｈａｔ ｓｔａｎｄ ａｃｒｏｓｓ ｔｈｅ ｌｉｆｅ-ｐａｔｈ ｏｆ ｅｖｅｒｙ ｐｅｒｓｏｎ: Ｔｈａｔ ｏｆ ｄｙｉｎｇ ｐｒｅｍａｔｕｒｅｌｙ ａｎｄ ｌｅａｖｉｎｇ ａ ｄｅｐｅｎｄｅｎｔ ｆａｍｉｌｙ ｔｏ ｆｅｎｄ ｆｏｒ ｉｔｓｅｌｆ. Ｔｈａｔ ｏｆ ｌｉｖｉｎｇ ｔｉｌｌ ｏｌｄ ａｇｅ ｗｉｔｈｏｕｔ ｖｉｓｉｂｌｅ ｍｅａｎｓ ｏｆ ｓｕｐｐｏｒｔ. ＬＩＦＥ ＩＮＳＵＲＡＮＣＥ ＶＳ. ＯＴＨＥＲ ＳＡＶＩＮＧＳ Ｃｏｎｔｒａｃｔ ｏｆ Ｉｎｓｕｒａｎｃｅ: Ａ ｃｏｎｔｒａｃｔ ｏｆ ｉｎｓｕｒａｎｃｅ ｉｓ ａ ｃｏｎｔｒａｃｔ ｏｆ ｕｔｍｏｓｔ ｇｏｏｄ ｆａｉｔｈ ｔｅｃｈｎｉｃａｌｌｙ ｋｎｏｗｎ ａｓ ｕｂｅｒｒｉｍａ ｆｉｄｅｓ. Ｔｈｅ ｄｏｃｔｒｉｎｅ ｏｆ ｄｉｓｃｌｏｓｉｎｇ ａｌｌ ｍａｔｅｒｉａｌ ｆａｃｔｓ ｉｓ ｅｍｂｏｄｉｅｄ ｉｎ ｔｈｉｓ ｉｍｐｏｒｔａｎｔ ｐｒｉｎｃｉｐｌｅ, ｗｈｉｃｈ ａｐｐｌｉｅｓ ｔｏ ａｌｌ ｆｏｒｍｓ ｏｆ ｉｎｓｕｒａｎｃｅ. Ａｔ ｔｈｅ ｔｉｍｅ ｏｆ ｔａｋｉｎｇ ａ ｐｏｌｉｃｙ, ｐｏｌｉｃｙｈｏｌｄｅｒ ｓｈｏｕｌｄ ｅｎｓｕｒｅ ｔｈａｔ ａｌｌ ｑｕｅｓｔｉｏｎｓ ｉｎ ｔｈｅ ｐｒｏｐｏｓａｌ ｆｏｒｍ ａｒｅ ｃｏｒｒｅｃｔｌｙ ａｎｓｗｅｒｅｄ. Ａｎｙ ｍｉｓｒｅｐｒｅｓｅｎｔａｔｉｏｎ, ｎｏｎ-ｄｉｓｃｌｏｓｕｒｅ ｏｒ ｆｒａｕｄ ｉｎ ａｎｙ ｄｏｃｕｍｅｎｔ ｌｅａｄｉｎｇ ｔｏ ｔｈｅ ａｃｃｅｐｔａｎｃｅ ｏｆ ｔｈｅ ｒｉｓｋ ｗｏｕｌｄ ｒｅｎｄｅｒ ｔｈｅ ｉｎｓｕｒａｎｃｅ ｃｏｎｔｒａｃｔ ｎｕｌｌ ａｎｄ ｖｏｉｄ. Ｐｒｏｔｅｃｔｉｏｎ: Ｓａｖｉｎｇｓ ｔｈｒｏｕｇｈ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｇｕａｒａｎｔｅｅ ｆｕｌｌ ｐｒｏｔｅｃｔｉｏｎ ａｇａｉｎｓｔ ｒｉｓｋ ｏｆ ｄｅａｔｈ ｏｆ ｔｈｅ ｓａｖｅｒ. Ａｌｓｏ, ｉｎ ｃａｓｅ ｏｆ ｄｅｍｉｓｅ, ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ａｓｓｕｒｅｓ ｐａｙｍｅｎｔ ｏｆ ｔｈｅ ｅｎｔｉｒｅ ａｍｏｕｎｔ ａｓｓｕｒｅｄ (ｗｉｔｈ ｂｏｎｕｓｅｓ ｗｈｅｒｅｖｅｒ ａｐｐｌｉｃａｂｌｅ) ｗｈｅｒｅａｓ ｉｎ ｏｔｈｅｒ ｓａｖｉｎｇｓ ｓｃｈｅｍｅｓ, ｏｎｌｙ ｔｈｅ ａｍｏｕｎｔ ｓａｖｅｄ (ｗｉｔｈ ｉｎｔｅｒｅｓｔ) ｉｓ ｐａｙａｂｌｅ. Ａｉｄ ｔｏ Ｔｈｒｉｆｔ: Ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｅｎｃｏｕｒａｇｅｓ 'ｔｈｒｉｆｔ'. Ｉｔ ａｌｌｏｗｓ ｌｏｎｇ-ｔｅｒｍ ｓａｖｉｎｇｓ ｓｉｎｃｅ ｐａｙｍｅｎｔｓ ｃａｎ ｂｅ ｍａｄｅ ｅｆｆｏｒｔｌｅｓｓｌｙ ｂｅｃａｕｓｅ ｏｆ ｔｈｅ 'ｅａｓｙ ｉｎｓｔａｌｍｅｎｔ' ｆａｃｉｌｉｔｙ ｂｕｉｌｔ ｉｎｔｏ ｔｈｅ ｓｃｈｅｍｅ. (Ｐｒｅｍｉｕｍ ｐａｙｍｅｎｔ ｆｏｒ ｉｎｓｕｒａｎｃｅ ｉｓ ｍｏｎｔｈｌｙ, ｑｕａｒｔｅｒｌｙ, ｈａｌｆ ｙｅａｒｌｙ ｏｒ ｙｅａｒｌｙ). Ｆｏｒ ｅｘａｍｐｌｅ: Ｔｈｅ Ｓａｌａｒｙ Ｓａｖｉｎｇ Ｓｃｈｅｍｅ ｐｏｐｕｌａｒｌｙ ｋｎｏｗｎ ａｓ ＳＳＳ, ｐｒｏｖｉｄｅｓ ａ ｃｏｎｖｅｎｉｅｎｔ ｍｅｔｈｏｄ ｏｆ ｐａｙｉｎｇ ｐｒｅｍｉｕｍ ｅａｃｈ ｍｏｎｔｈ ｂｙ ｄｅｄｕｃｔｉｏｎ ｆｒｏｍ ｏｎｅ'ｓ ｓａｌａｒｙ. Ｉｎ ｔｈｉｓ ｃａｓｅ ｔｈｅ ｅｍｐｌｏｙｅｒ ｄｉｒｅｃｔｌｙ ｐａｙｓ ｔｈｅ ｄｅｄｕｃｔｅｄ ｐｒｅｍｉｕｍ ｔｏ ＬＩＣＩ. Ｔｈｅ Ｓａｌａｒｙ Ｓａｖｉｎｇ Ｓｃｈｅｍｅ ｉｓ ｉｄｅａｌ ｆｏｒ ａｎｙ ｉｎｓｔｉｔｕｔｉｏｎ ｏｒ ｅｓｔａｂｌｉｓｈｍｅｎｔ ｓｕｂｊｅｃｔ ｔｏ ｓｐｅｃｉｆｉｅｄ ｔｅｒｍｓ ａｎｄ ｃｏｎｄｉｔｉｏｎｓ. Ｌｉｑｕｉｄｉｔｙ: Ｉｎ ｃａｓｅ ｏｆ ｉｎｓｕｒａｎｃｅ, ｉｔ ｉｓ ｅａｓｙ ｔｏ ａｃｑｕｉｒｅ ｌｏａｎｓ ｏｎ ｔｈｅ ｓｏｌｅ ｓｅｃｕｒｉｔｙ ｏｆ ａｎｙ ｐｏｌｉｃｙ ｔｈａｔ ｈａｓ ａｃｑｕｉｒｅｄ ｌｏａｎ ｖａｌｕｅ. Ｂｅｓｉｄｅｓ, ａ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｐｏｌｉｃｙ ｉｓ ａｌｓｏ ｇｅｎｅｒａｌｌｙ ａｃｃｅｐｔｅｄ ａｓ ｓｅｃｕｒｉｔｙ, ｅｖｅｎ ｆｏｒ ａ ｃｏｍｍｅｒｃｉａｌ ｌｏａｎ. Ｔａｘ Ｒｅｌｉｅｆ: Ｌｉｆｅ Ｉｎｓｕｒａｎｃｅ ｉｓ ｔｈｅ ｂｅｓｔ ｗａｙ ｔｏ ｅｎｊｏｙ ｔａｘ ｄｅｄｕｃｔｉｏｎｓ ｏｎ ｉｎｃｏｍｅ ｔａｘ ａｎｄ ｗｅａｌｔｈ ｔａｘ. Ｔｈｉｓ ｉｓ ａｖａｉｌａｂｌｅ ｆｏｒ ａｍｏｕｎｔｓ ｐａｉｄ ｂｙ ｗａｙ ｏｆ ｐｒｅｍｉｕｍ ｆｏｒ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｓｕｂｊｅｃｔ ｔｏ ｉｎｃｏｍｅ ｔａｘ ｒａｔｅｓ ｉｎ ｆｏｒｃｅ. Ａｓｓｅｓｓｅｅｓ ｃａｎ ａｌｓｏ ａｖａｉｌ ｏｆ ｐｒｏｖｉｓｉｏｎｓ ｉｎ ｔｈｅ ｌａｗ ｆｏｒ ｔａｘ ｒｅｌｉｅｆ. Ｉｎ ｓｕｃｈ ｃａｓｅｓ ｔｈｅ ａｓｓｕｒｅｄ ｉｎ ｅｆｆｅｃｔ ｐａｙｓ ａ ｌｏｗｅｒ ｐｒｅｍｉｕｍ ｆｏｒ ｉｎｓｕｒａｎｃｅ ｔｈａｎ ｏｔｈｅｒｗｉｓｅ. Ｍｏｎｅｙ Ｗｈｅｎ Ｙｏｕ Ｎｅｅｄ Ｉｔ: Ａ ｐｏｌｉｃｙ ｔｈａｔ ｈａｓ ａ ｓｕｉｔａｂｌｅ ｉｎｓｕｒａｎｃｅ ｐｌａｎ ｏｒ ａ ｃｏｍｂｉｎａｔｉｏｎ ｏｆ ｄｉｆｆｅｒｅｎｔ ｐｌａｎｓ ｃａｎ ｂｅ ｅｆｆｅｃｔｉｖｅｌｙ ｕｓｅｄ ｔｏ ｍｅｅｔ ｃｅｒｔａｉｎ ｍｏｎｅｔａｒｙ ｎｅｅｄｓ ｔｈａｔ ｍａｙ ａｒｉｓｅ ｆｒｏｍ ｔｉｍｅ-ｔｏ-ｔｉｍｅ. Ｃｈｉｌｄｒｅｎ'ｓ ｅｄｕｃａｔｉｏｎ, ｓｔａｒｔ-ｉｎ-ｌｉｆｅ ｏｒ ｍａｒｒｉａｇｅ ｐｒｏｖｉｓｉｏｎ ｏｒ ｅｖｅｎ ｐｅｒｉｏｄｉｃａｌ ｎｅｅｄｓ ｆｏｒ ｃａｓｈ ｏｖｅｒ ａ ｓｔｒｅｔｃｈ ｏｆ ｔｉｍｅ ｃａｎ ｂｅ ｌｅｓｓ ｓｔｒｅｓｓｆｕｌ ｗｉｔｈ ｔｈｅ ｈｅｌｐ ｏｆ ｔｈｅｓｅ ｐｏｌｉｃｉｅｓ. Ａｌｔｅｒｎａｔｉｖｅｌｙ, ｐｏｌｉｃｙ ｍｏｎｅｙ ｃａｎ ｂｅ ｍａｄｅ ａｖａｉｌａｂｌｅ ａｔ ｔｈｅ ｔｉｍｅ ｏｆ ｏｎｅ'ｓ ｒｅｔｉｒｅｍｅｎｔ ｆｒｏｍ ｓｅｒｖｉｃｅ ａｎｄ ｕｓｅｄ ｆｏｒ ａｎｙ ｓｐｅｃｉｆｉｃ ｐｕｒｐｏｓｅ, ｓｕｃｈ ａｓ, ｐｕｒｃｈａｓｅ ｏｆ ａ ｈｏｕｓｅ ｏｒ ｆｏｒ ｏｔｈｅｒ ｉｎｖｅｓｔｍｅｎｔｓ. Ａｌｓｏ, ｌｏａｎｓ ａｒｅ ｇｒａｎｔｅｄ ｔｏ ｐｏｌｉｃｙｈｏｌｄｅｒｓ ｆｏｒ ｈｏｕｓｅ ｂｕｉｌｄｉｎｇ ｏｒ ｆｏｒ ｐｕｒｃｈａｓｅ ｏｆ ｆｌａｔｓ (ｓｕｂｊｅｃｔ ｔｏ ｃｅｒｔａｉｎ ｃｏｎｄｉｔｉｏｎｓ). Ｗｈｏ Ｃａｎ Ｂｕｙ Ａ Ｐｏｌｉｃｙ? Ａｎｙ ｐｅｒｓｏｎ ｗｈｏ ｈａｓ ａｔｔａｉｎｅｄ ｍａｊｏｒｉｔｙ ａｎｄ ｉｓ ｅｌｉｇｉｂｌｅ ｔｏ ｅｎｔｅｒ ｉｎｔｏ ａ ｖａｌｉｄ ｃｏｎｔｒａｃｔ ｃａｎ ｉｎｓｕｒｅ ｈｉｍｓｅｌｆ/ｈｅｒｓｅｌｆ ａｎｄ ｔｈｏｓｅ ｉｎ ｗｈｏｍ ｈｅ/ｓｈｅ ｈａｓ ｉｎｓｕｒａｂｌｅ ｉｎｔｅｒｅｓｔ. Ｐｏｌｉｃｉｅｓ ｃａｎ ａｌｓｏ ｂｅ ｔａｋｅｎ, ｓｕｂｊｅｃｔ ｔｏ ｃｅｒｔａｉｎ ｃｏｎｄｉｔｉｏｎｓ, ｏｎ ｔｈｅ ｌｉｆｅ ｏｆ ｏｎｅ'ｓ ｓｐｏｕｓｅ ｏｒ ｃｈｉｌｄｒｅｎ. Ｗｈｉｌｅ ｕｎｄｅｒｗｒｉｔｉｎｇ ｐｒｏｐｏｓａｌｓ, ｃｅｒｔａｉｎ ｆａｃｔｏｒｓ ｓｕｃｈ ａｓ ｔｈｅ ｐｏｌｉｃｙｈｏｌｄｅｒ'ｓ ｓｔａｔｅ ｏｆ ｈｅａｌｔｈ, ｔｈｅ ｐｒｏｐｏｎｅｎｔ'ｓ ｉｎｃｏｍｅ ａｎｄ ｏｔｈｅｒ ｒｅｌｅｖａｎｔ ｆａｃｔｏｒｓ ａｒｅ ｃｏｎｓｉｄｅｒｅｄ ｂｙ ｔｈｅ Ｃｏｒｐｏｒａｔｉｏｎ. Ｉｎｓｕｒａｎｃｅ ｆｏｒ Ｗｏｍｅｎ Ｐｒｉｏｒ ｔｏ ｎａｔｉｏｎａｌｉｓａｔｉｏｎ (1956), ｍａｎｙ ｐｒｉｖａｔｅ ｉｎｓｕｒａｎｃｅ ｃｏｍｐａｎｉｅｓ ｗｏｕｌｄ ｏｆｆｅｒ ｉｎｓｕｒａｎｃｅ ｔｏ ｆｅｍａｌｅ ｌｉｖｅｓ ｗｉｔｈ ｓｏｍｅ ｅｘｔｒａ ｐｒｅｍｉｕｍ ｏｒ ｏｎ ｒｅｓｔｒｉｃｔｉｖｅ ｃｏｎｄｉｔｉｏｎｓ. Ｈｏｗｅｖｅｒ, ａｆｔｅｒ ｎａｔｉｏｎａｌｉｓａｔｉｏｎ ｏｆ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ, ｔｈｅ ｔｅｒｍｓ ｕｎｄｅｒ ｗｈｉｃｈ ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｓ ｇｒａｎｔｅｄ ｔｏ ｆｅｍａｌｅ ｌｉｖｅｓ ｈａｖｅ ｂｅｅｎ ｒｅｖｉｅｗｅｄ ｆｒｏｍ ｔｉｍｅ-ｔｏ-ｔｉｍｅ. Ａｔ ｐｒｅｓｅｎｔ, ｗｏｍｅｎ ｗｈｏ ｗｏｒｋ ａｎｄ ｅａｒｎ ａｎ ｉｎｃｏｍｅ ａｒｅ ｔｒｅａｔｅｄ ａｔ ｐａｒ ｗｉｔｈ ｍｅｎ. Ｉｎ ｏｔｈｅｒ ｃａｓｅｓ, ａ ｒｅｓｔｒｉｃｔｉｖｅ ｃｌａｕｓｅ ｉｓ ｉｍｐｏｓｅｄ, ｏｎｌｙ ｉｆ ｔｈｅ ａｇｅ ｏｆ ｔｈｅ ｆｅｍａｌｅ ｉｓ ｕｐ ｔｏ 30 ｙｅａｒｓ ａｎｄ ｉｆ ｓｈｅ ｄｏｅｓ ｎｏｔ ｈａｖｅ ａｎ ｉｎｃｏｍｅ ａｔｔｒａｃｔｉｎｇ Ｉｎｃｏｍｅ Ｔａｘ. Ｍｅｄｉｃａｌ ａｎｄ Ｎｏｎ-Ｍｅｄｉｃａｌ Ｓｃｈｅｍｅｓ Ｌｉｆｅ ｉｎｓｕｒａｎｃｅ ｉｓ ｎｏｒｍａｌｌｙ ｏｆｆｅｒｅｄ ａｆｔｅｒ ａ ｍｅｄｉｃａｌ ｅｘａｍｉｎａｔｉｏｎ ｏｆ ｔｈｅ ｌｉｆｅ ｔｏ ｂｅ ａｓｓｕｒｅｄ. Ｈｏｗｅｖｅｒ, ｔｏ ｆａｃｉｌｉｔａｔｅ ｇｒｅａｔｅｒ ｓｐｒｅａｄ ｏｆ ｉｎｓｕｒａｎｃｅ ａｎｄ ａｌｓｏ ｔｏ ａｖｏｉｄ ｉｎｃｏｎｖｅｎｉｅｎｃｅ, ＬＩＣＩ ｈａｓ ｂｅｅｎ ｅｘｔｅｎｄｉｎｇ ｉｎｓｕｒａｎｃｅ ｃｏｖｅｒ ｗｉｔｈｏｕｔ ａｎｙ ｍｅｄｉｃａｌ ｅｘａｍｉｎａｔｉｏｎ, ｓｕｂｊｅｃｔ ｔｏ ｃｅｒｔａｉｎ ｃｏｎｄｉｔｉｏｎｓ. Ｗｉｔｈ Ｐｒｏｆｉｔ ａｎｄ Ｗｉｔｈｏｕｔ Ｐｒｏｆｉｔ Ｐｌａｎｓ Ａｎ ｉｎｓｕｒａｎｃｅ ｐｏｌｉｃｙ ｃａｎ ｂｅ 'ｗｉｔｈ' ｏｒ 'ｗｉｔｈｏｕｔ' ｐｒｏｆｉｔ. Ｉｎ ｔｈｅ ｆｏｒｍｅｒ, ｂｏｎｕｓｅｓ ｄｉｓｃｌｏｓｅｄ, ｉｆ ａｎｙ, ａｆｔｅｒ ｐｅｒｉｏｄｉｃａｌ ｖａｌｕａｔｉｏｎｓ ａｒｅ ａｌｌｏｔｔｅｄ ｔｏ ｔｈｅ ｐｏｌｉｃｙ ａｎｄ ａｒｅ ｐａｙａｂｌｅ ａｌｏｎｇ ｗｉｔｈ ｔｈｅ ｃｏｎｔｒａｃｔｅｄ ａｍｏｕｎｔ. Ｉｎ 'ｗｉｔｈｏｕｔ' ｐｒｏｆｉｔ ｐｌａｎ ｔｈｅ ｃｏｎｔｒａｃｔｅｄ ａｍｏｕｎｔ ｉｓ ｐａｉｄ ｗｉｔｈｏｕｔ ａｎｙ ａｄｄｉｔｉｏｎ. Ｔｈｅ ｐｒｅｍｉｕｍ ｒａｔｅ ｃｈａｒｇｅｄ ｆｏｒ ａ 'ｗｉｔｈ' ｐｒｏｆｉｔ ｐｏｌｉｃｙ ｉｓ ｔｈｅｒｅｆｏｒｅ ｈｉｇｈｅｒ ｔｈａｎ ｆｏｒ ａ 'ｗｉｔｈｏｕｔ' ｐｒｏｆｉｔ ｐｏｌｉｃｙ. Ｋｅｙ ｍａｎ Ｉｎｓｕｒａｎｃｅ Ｋｅｙ ｍａｎ ｉｎｓｕｒａｎｃｅ ｉｓ ｔａｋｅｎ ｂｙ ａ ｂｕｓｉｎｅｓｓ ｆｉｒｍ ｏｎ ｔｈｅ ｌｉｆｅ ｏｆ ｋｅｙ ｅｍｐｌｏｙｅｅ(ｓ) ｔｏ ｐｒｏｔｅｃｔ ｔｈｅ ｆｉｒｍ ａｇａｉｎｓｔ ｆｉｎａｎｃｉａｌ ｌｏｓｓｅｓ, ｗｈｉｃｈ ｍａｙ ｏｃｃｕｒ ｄｕｅ ｔｏ ｔｈｅ ｐｒｅｍａｔｕｒｅ ｄｅｍｉｓｅ ｏｆ ｔｈｅ Ｋｅｙ ｍａｎ. ＲＥＦＥＲＥＮＣＥ 1.ＩＲＤＡ Ｗｅｂｓｉｔｅ. 2.ＬＩＣＩ Ｗｅｂｓｉｔｅ. 3.Ｗｅｂｓｉｔｅｓ ｏｆ ｏｔｈｅｒ Ｐｒｉｖａｔｅ Ｉｎｓｕｒａｎｃｅ Ｃｏｍｐａｎｉｅｓ. [ Ｅｎｄ ｏｆ Ｐａｒｔ 2 ｏｆ 4 Ｐａｒｔｓ. Ｔｏ ｂｅ ｃｏｎｔｉｎｕｅｄ ｉｎ Ｐａｒｔ 3 ] Ｈｉｍａｎｓｕ Ｓ Ｍ / 20-Ｆｅｂ-2009 |
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