An Analysis of Life Insurance Company for Sustainable Business Development with Special Reference to HDFC Life Insurance Company Limited in India
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Abstract
Risk and uncertainty are inextricable components of life. Although it is difficult to move away from it, one can minimize the impact of risk and uncertainty through insurance. One of these is life insurance, which directly connects to each of our lives. Thus, the provision of life insurance, according to the rules and regulations established by the government, necessitates the co-existence of public and private life insurance companies in our economy. Life Insurance is a growing domain, as many of our population is not covered yet. In the event of mis-happenings, it offers financial security to a family and supports economic growth from many perspectives. However, given specific barriers from individual and social attitudes and regulatory norms, life insurance companies have not grown in our country as they should have. As a result, bearing in mind the significance of life insurance to an individual and the economy, the current study has been undertaken to analyse the roles, importance, and impact of life insurance through life insurance companies on our economy. Thus, HDFC Life Insurance Company Limited has been taken as a case study unit, keeping in mind the functions, features and business planning followed to grow.
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