• Dr. Chanda Srinivas

The word “micro” represents the relatively small transaction with the size of lower premiums. Micro insurance (MI) is the protection of low-income people against specific perils in exchange for regular premium payment, proportionate to the likelihood and cost of the risks involved. In India LIC of India is one and only public insurance company which introduced micro insurance policies with effect from 28th September 2006. The present study has made an attempt to study the micro insurance schemes & distribution channels of LIC of India, growth and development of micro insurance business and claims and settlements of LIC of India. The data required for the study have been collected from secondary sources. The secondary data have been collected through IRDAI, LIC of India Annual reports, publications, books, journals, dissertations, case studies carried out by the previous research studies and official websites. The LIC of India micro insurance agents gradually increased, maturity claims were more than the total death claims and number of micro insurance policies continuously increased later the number of policies had fallen down drastically.

Micro Insurance(MI), Claims and Settlements, LIC of India.

"GROWTH AND DEVELOPMENT OF MICRO INSURANCE IN LIC OF INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 10, page no.i213-i221, October-2023, Available :http://www.jetir.org/papers/JETIR2310730.pdf

"GROWTH AND DEVELOPMENT OF MICRO INSURANCE IN LIC OF INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 10, page no. ppi213-i221, October-2023, Available at : http://www.jetir.org/papers/JETIR2310730.pdf