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Te the major chunk of financial services in India. The insurance industry provides the impetus to achieve the economic goals of social security and welfare. Social security is an essential requirement of social justice (Dreze and Sen, 1996). Share of the insurance fund to the real GDP has been showing a trend of growth for the last five years viz. from 2.2% in 2004 05 to 2.8% in 2008 09. It is expected that contribution of life insurance be expected to be considerably increasing in the futur.

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