A CRITICAL ANALYSIS OF LAW RELATING TO LIFE INSURANCE BUSINESS IN INDIA

Abstract

newline Yakshaprashna in Mahabharata What is the most wonderful thing in the newlineworld ? Yaksha asked Yudhishtira in the Epic Mahabharata . Yudhisdtira newlinereplied, The most wonderful thing in the world is that men seeing every day the newlinedead being carried to the burial ground, still imagine that they are eternal . Death newlineis a sublime theme of reflection and is a natural phenomenon. Therefore, one newlineshould not be distressed for what is inevitable and unavoidable, observed Shri Krishna in the Bhagvad Geeta1. newlineMan is exposed to various risks to his person and interests, not just from the cradle but from the time of his conception itself2. If man is engaged in newlinebusiness, he has to struggle against many more risks. These risks, while many of newlinethem are natural, some arise out of his economic activities which have to be newlineovercome. The instinct of human beings to survive has moved him to create newlineappropriate means of handling these hazards. The present economic progress is newlineample proof of the measure of his success in this endeavor. Insurance has earned newlinethe place of pride as the financial source of industry and commerce.