Life insurance provides important benefits to individuals, businesses, and society. It offers family protection by providing funds to dependents after death. This allows for education, marriage expenses, and old age provision. Life insurance also increases creditworthiness and provides tax relief. Businesses benefit from life insurance through loan provision, capital access, and key personnel insurance. Society gains from life insurance through industrial development, self-sufficiency, and reduced unemployment. Overall, life insurance provides peace of mind, efficiency, and ensures funds are available regardless of the timing of death.

1. LIFE INSURANCE
ATUL SHARMA

3. IMPORTANCE OF LIC
SUB.To SUB.BY
MR. DEEPAK SIR ATUL SHARMA

4. life insaurance business mean the business of
effectingcontract of insaurance upon human life
,including any contract where by the payment of money
is assured on death or the happning of any contingency
dependent on human life.

5. Importance of life insurance..
The importants of life insurance may be difined into
four categories from the study point of view
Advantages to insured
Advantages to industry and trade
Advantages to society and government
Other advantages

6. 1)family protection.
2)provision for education and marriage etc…
3)provision for old age.
4)increase in credit.
5)tax relief .
6)cash estate.

7. 1)provision for loan .
2) facility for capital.
3)security of loan .
4)insurance by partner .
5)insurance of key personnel.

8. 1)Industrial development
2)self dependence.
3)reduction in unemployment problem.
4)social satisfaction.

9. Other advantages
1)peace of mind.
2)Efficiency.
3)Defeat of time.

11. life insurance is understood to be very important mean
for family protection .It provides safety to the dependents
after death.
family protection…...

12. provision for education and marriage….
money is needed for the marriage, education of the child and
every person has a desire that these task may be fulfilled
without any hurdle .life insurance helps to fulfill this desire of
human beings. money may be easily arrangsd by taking
education and marriage insurance policy.

13. life insurance is a very convenient route to such money
reserve for old age because it is a provision of today for
tomorrow in which no excess burden is left.

14. THE credit of assured is also increased by taking life
insurance .a loan may be acquired policy for the insurer
himself. loan can also be taken from other financial
institutuon like bank etc.because life insurance policy is
accepted as a security.

15. There is also a provision of tax exemption on payment of
life insurance premium.thus the premium amount paid is
automatically deducted from income while calculating
tax liability,hence,burden of tax payment is reduced after
getting tax exemption

16. life insurance is a superior medium in the cash from of fixed
amount and thus cash may be managed without selling other
assets .life insurance is like building up one`s liquid assets or
cash estate to be available in times of need .it is also
considered to be the nmost satisfactory method of payment of
taxes regarding one`s estate.

17. protection against creditors...
The insurance amount may be protected from the
creditors .this work be done under the provision of valid
assignment or married women property act.

19. life insurance is a convenient source to acquire loan for
the industry and business. on life insurance policies , loan
may be acquired from other source on the basis of surety
provided by the insurer….

20. life insurence also invest the premium income in the form of
capital and loan in the industrial and business units . life
insurers collect the overview from an huge number of assured
as saving and invest thatb amount in the government and non-
government institution

21. partner of any partnership firm may take such joint
insurance through which in case of death of a partner ,the
amount of insurance may be availed by the remaining
partner.

22. The other benefits of life insurence is that the creditors
may secure his loan amount by insuring the life of the
debtors.

23. usually , insurance also make such type of provision in
insurance under which businessman can take insurance of
key personnel so that in case of their untimely demise ,at
once ,losees occured may be got indemnified to some
extent.

25. life insurance is also helpful in the industrial development
of the nation . A significant contribution is given in
industrialisation by life insurance through providing
investment assistance to industrial of the country...

26. life insurance makesc human being self dependent and
hence reduce the burden on the society. after making
provision for the future,unnecessary dependence of him
and his dependent on the society are reduced.

27. life insurance helps to reduce the unemployment problem
directly and indirectly. many people get employment in
the life insurance institution .

28. Dissatisfaction takes birth due to scarcity economic
scarcity create such dissatisfaction which become the
basic causes of revolution .life insurance create both the
individual and social satisfaction by providing economic
security.

29. OTHER ADVANTAGES

30. life insurance ends the confusion in the mind of human
being by providing economic safety . The human being
feels mental peace while experience being totally
secured.

31. Safety and peace keep the morale of human being higher
and a motivated person may carry out the work with more
dedication and promptness

32. Money saving need time and who know that how much
time destiny gives to any person .sometimes , even time
gets defeated at the hands of destiny . life insurance
maintain coordination between time and exemptions.