Vol. 6, Issue 1, Part D (2020)

Abstract
Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). Insurance is a means of protection from financial loss. Insurance has been an important part of the Indian financial system. Future is associated with uncertainty. Uncertainty is a universal risk for the mankind. Such type of uncertainty is to be controlled or avoided by everybody through investment in Life Insurance. Many type of risk management techniques are there. Insurance is one of the best risk financing techniques. Indian life insurance companies continue to play a vital role in solving as well as increasing the socio-economic development, standard of living, poverty alleviation, employment problem, etc. as far as India is concerned. There is a strong hope that Indian life insurance companies would establish for themselves a permanent and unshakable position in the service providing industrial map of India and also in the emerging international market. The present article highlights the financial performance of selected five Private sector life insurance companies.