A STUDY ON “CUSTOMER SATISFACTION TOWARDSHDFC STANDARD LIFE INSURANCE COMPANY� insurance Company Ltd. and the United India Insurance Company Ltd. GIC Incorporated as a company. 1993:- Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N. Malhotra was formed to evaluate the Indian insurance industry and recommend its future direction. 1997:- Insurance Regulatory and Development Authority (IRDA) set up. 2000:- IRDA starts giving licences to private insurers, HDFC standard life and ICICI prudential first private insurers to sell a policy. 2002:- Banks were allowed to sell insurance plans.
ADVANTAGES OF LIFE INSURANCE 1. The value of human life is far greater than the value of property. Only Insurance can preserve it. 2.
Facility of nomination and assignment makes the claim settlement easy on Death.
3. Life insurance involves compulsory savings. 4. Tax benefits on premium paid as well as the amount received by way of Claim. 5. Loans can be raised against a life insurance policy. 6. Insurance is the only way to safeguard against the unpredictable risks of the future.
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