History of Insurance in India:
The history of Insurance in India - a Federal subject - dates back to 1818. The Insurance sector in India has great growth potential vis-a-vis global players especially with life insurance premiums amounting to 2.5% of India's GDP and general insurance premiums to 0.65%.
The Insurance division in India perhaps witnessed the greatest change in the year 1999 when the Government of India liberalized its economy permitting private companies to come in and implore the insurance sector facilitating the FDI up to 26%. Earlier only LIC (Life Insurance Corporation of India) was allowed to sell & underwrite life insurance.
The Indian Insurance sector currently is such that all insurance companies, worldwide, intend to have a lion's share. However, the Government of India even today, owns the largest life insurance company LIC.
Why is Insurance important?
Life insurance is important because life itself is extremely precious. What began as a measure to reduce the risk of traders and merchants has today become a pivotal part of all civilians' lives. Life insurance guarantees the enjoyment of the same lifestyle even after the unfortunate demise of a loved one. The beneficiaries can utilize the money as a source of income or to pay off debts, amongst others.
The Insurance division in India perhaps witnessed the greatest change in the year 1999 when the Government of India liberalized its economy permitting private companies to come in and implore the insurance sector facilitating the FDI up to 26%. Earlier only LIC (Life Insurance Corporation of India) was allowed to sell & underwrite life insurance.
The Indian Insurance sector currently is such that all insurance companies, worldwide, intend to have a lion's share. However, the Government of India even today, owns the largest life insurance company LIC.
Why is Insurance important?
Life insurance is important because life itself is extremely precious. What began as a measure to reduce the risk of traders and merchants has today become a pivotal part of all civilians' lives. Life insurance guarantees the enjoyment of the same lifestyle even after the unfortunate demise of a loved one. The beneficiaries can utilize the money as a source of income or to pay off debts, amongst others.
NRILIC.com has been serving world wide customers with medical insurance needs. We are part of the same group and help you find the right life insurance policy for you. Though it is difficult to pin down that one particular policy suited for you, specially with choices varying between term life insurance, ULIPS, endowment plans and whole life policies, with the help of technology we can definitely help you find one that satisfies your needs. All you need to do is fill up the online form provided and we will would help you get hold of the best life insurance policy from dependable insurers.
Our process for NRIs or PIOs:
At NRILIC India Investments we are ready to serve our clients 24x7 with our personalized one on one approach to service. We are not affiliated with just one insurance company, you can be assured of getting the best deals and free insurance quotes from various Indian insurance companies offering NRI insurance services online. You are also shown the entire choice-making process. Booking insurance through us is fast, reliable and easy. As a professional team, we show evidence of the same in all our dealings and hence win not only great customers buy also wonderful friends.
Our process for NRIs or PIOs:
At NRILIC India Investments we are ready to serve our clients 24x7 with our personalized one on one approach to service. We are not affiliated with just one insurance company, you can be assured of getting the best deals and free insurance quotes from various Indian insurance companies offering NRI insurance services online. You are also shown the entire choice-making process. Booking insurance through us is fast, reliable and easy. As a professional team, we show evidence of the same in all our dealings and hence win not only great customers buy also wonderful friends.
We personally feel for NRIs & PIOs Life Insurance a a vehicle for Tax Free Investment growth. If you are purely looking for Life Insurance then you have better choices from US companies who offer pure term life insurance.
One size does not fit all, and hence we try to get tailor-made policies for our clients as we understand your exact requirements and desire your full satisfaction. In addition, we offer our clients access to various online services.
Ask our Financial Advisor: Nrilic was formed by Non Resident Indians from USA. As per Indian law we cannot provide you service without knowing our customers (this is called as KYC - Know Your Customers act). So we deal on a one to one basis giving that personal touch. If you would like to personally meet our adviser at a time and place convenient to you, such a meeting can be arranged. All you have to provide us with is some basic information using this online form & our advisor will get in touch with you.
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