The Estimate Committee (1960)1 of the Lok Sabha concluded that the renewal expense ratio had been coming down but had not reached the level of the best–managed insurers. The Committee also hoped that with improved management, the Corporation would not only catch up with but also improve on the renewal expense ratio attained by the erstwhile leading insurance companies in India.
Mohsin (1966)2 suggested that the requirements of the financial system in India and the interest of the policyholders called for a modification in the investment policy of the LIC. The
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study also highlighted that insurers abroad with more or less similar liabilities and characteristics had been constantly re-shifting and re-aligning their investment portfolio …show more content…
The study concluded that the investment policy of the Corporation safeguarded the interest of the policyholders and the community and also helped in removing regional disparities. There was a large increase in rural investment through subscriptions to central and mortgage banks, debentures and bonds, and loans to electricity boards. Also, considerable efforts were being made to implement the social and economic policies of the government in regard to housing, water supply, land development, rural electrification and growth of small and medium scale industries.
Gupta (1969)4 in his study entitled, “The Life Insurance Corporation of India – the Changing Structure of Industrial Finance in India” expressed that LIC of India had become fairly powerful factor in the Indian industrial securities market.
Singh (1972)5 examined the investment pattern of the Corporation. He concluded that government securities still enjoyed a unique investment status in the portfolio structure of the Corporation although their relative importance had undoubtedly declined after the nationalization. Among government securities held by the LIC, the relative importance of approved securities had considerably increased while that of central government and state government securities had declined. As the state governments had to shoulder substantial responsibilities for financing developmental expenditures under the plans, so the Corporation …show more content…
Khan (1978)8 attempted to know the opportunities and prospects in the career of a life insurance sector. He explained how a good career should be for selling of life insurance products. The relationship of life insurance agent with clients was not temporary and the service rendered had no substitutes.
Singh (1979)9 observed that over the years the LIC had made noticeable progress in providing insurance cover to increasing number of individuals and mobilizing the resources of the community. Though the expectations in respect of service and benefits to the policyholders had also gone up considerably with the growth of LIC business. Demands have been made for better management, better returns and improvement in services to policyholders and reorientation of the investment policy.
A High Power Expert Committee (1981)10 suggested simplification, rationalization and modernization of the operations of the LIC and a thorough review of its administrative structure to draw full benefits by economizing expenditure. The committee further recommended reduction in premium rates or handsome bonus, reduction in the expenses of the Corporation and freedom to invest funds to get best
Mohsin (1966)2 suggested that the requirements of the financial system in India and the interest of the policyholders called for a modification in the investment policy of the LIC. The
28
study also highlighted that insurers abroad with more or less similar liabilities and characteristics had been constantly re-shifting and re-aligning their investment portfolio …show more content…
The study concluded that the investment policy of the Corporation safeguarded the interest of the policyholders and the community and also helped in removing regional disparities. There was a large increase in rural investment through subscriptions to central and mortgage banks, debentures and bonds, and loans to electricity boards. Also, considerable efforts were being made to implement the social and economic policies of the government in regard to housing, water supply, land development, rural electrification and growth of small and medium scale industries.
Gupta (1969)4 in his study entitled, “The Life Insurance Corporation of India – the Changing Structure of Industrial Finance in India” expressed that LIC of India had become fairly powerful factor in the Indian industrial securities market.
Singh (1972)5 examined the investment pattern of the Corporation. He concluded that government securities still enjoyed a unique investment status in the portfolio structure of the Corporation although their relative importance had undoubtedly declined after the nationalization. Among government securities held by the LIC, the relative importance of approved securities had considerably increased while that of central government and state government securities had declined. As the state governments had to shoulder substantial responsibilities for financing developmental expenditures under the plans, so the Corporation …show more content…
Khan (1978)8 attempted to know the opportunities and prospects in the career of a life insurance sector. He explained how a good career should be for selling of life insurance products. The relationship of life insurance agent with clients was not temporary and the service rendered had no substitutes.
Singh (1979)9 observed that over the years the LIC had made noticeable progress in providing insurance cover to increasing number of individuals and mobilizing the resources of the community. Though the expectations in respect of service and benefits to the policyholders had also gone up considerably with the growth of LIC business. Demands have been made for better management, better returns and improvement in services to policyholders and reorientation of the investment policy.
A High Power Expert Committee (1981)10 suggested simplification, rationalization and modernization of the operations of the LIC and a thorough review of its administrative structure to draw full benefits by economizing expenditure. The committee further recommended reduction in premium rates or handsome bonus, reduction in the expenses of the Corporation and freedom to invest funds to get best