• Dr. DEEPAK VERMA
• MUKESH KUMAWAT

The insurance functions of life insurance companies deal with human life values. The risk in life insurance is measured in terms of monetary value of the life. Man, within himself, represents great worth that creates all utility in tangible property. After nature, everything we have in this universe springs from man. Life value, therefore, is the basic value. There is so much financial value on the human life. Ideas and energy make money in our life and both come from man himself. Man is endowed with highly intellectual ability and he makes untiring efforts for the betterment and advancement of his life, which gives him the highest happiness and comfort, also benefiting in that process all those who depend on him for economic security. Insurance is an effective device which promotes stability, prosperity and happiness to the individual and society at large. World over, it is used for promoting industries, business, commerce and developmental programs, particularly in developing countries like India indirectly , the insured community contributes for a noble cause – nation building activity.it can, therefore, be said that insurance is a multi-faceted tool in the hands of making for number of purposes. The people of the developed countries like the US, UK, Japan, India have long back accepted the concept of insurance wholeheartedly.90% to 95% of insurable people of these countries are insured ( in India it is not more than 60% to 65% even on a liberal estimation). About 15% to 20% of the GDP of these developed countries comes from insurance premium (in India it is a little over 7.3%). Insurance as a business activity is a driver of economic development. Insurance is an affective device which promotes stability, prosperity and happiness to the individual and the society at large. Development and insurance are also complementary to each other. Prudent men will realize the importance of insurance and will accept it as an integral part of the way of financial planning in life.

A Comparative Study of the procedures of public & private sector in life insurance companies

"A Comparative Study of the procedures of public & private sector in life insurance companies", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.132-137, May-2019, Available :http://www.jetir.org/papers/JETIRCC06027.pdf

"A Comparative Study of the procedures of public & private sector in life insurance companies", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp132-137, May-2019, Available at : http://www.jetir.org/papers/JETIRCC06027.pdf