An Analysis of Life Insurance Company for Sustainable Business Development with Special Reference to HDFC Life Insurance Company Limited in India
Vaishnavi Gupta
Vaishnavi Gupta, Department of Computer Science Engineering, MPSTME, NMIMS University, Mumbai.
Manuscript received on 30 January 2025 | First Revised Manuscript received on 01 March 2025 | Second Revised Manuscript received on 20 April 2025 | Manuscript Accepted on 15 May 2025 | Manuscript published on 30 May 2025 | PP: 70-79 | Volume-5 Issue-1, May 2025 | Retrieval Number: 100.1/ijef.A260905010525 | DOI: 10.54105/ijef.A2609.05010525
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© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Risk and uncertainty are inextricable components of life. Although it is difficult to move away from it, one can minimize the impact of risk and uncertainty through insurance. One of these is life insurance, which has a direct connection to each one of our lives. Thus, the provision life insurance, in accordance with the rules and regulations established by the Government, necessitates the co-existence of public and private life insurance companies in our economy. Life Insurance is a growing domain as a large part of our population is not covered yet. In the event of mishappenings, it not only offers financial security to a family but also supports the economic growth from many perspectives. However, given certain barriers from individual and social perspectives along with regulatory norms, life insurance companies have not grown in our country the way they should have. As a result, bearing in mind the significance of life insurance not only to an individual but also to the economy as a whole, the current study has been undertaken with the intensions of analysing roles, importance and impact of life insurance through life insurance Company in our economy. Thus, HDFC Life Insurance Company Limited has been taken as case or study unit keeping in mind the functions, features and business planning followed to grow.
Keywords: Finance, Life Insurance, Growth, Risk, Uncertainty, Business Economics.
Scope of the Article: Finance