As the second most populous and seventh largest global economy, India has the largest number of life insurance policies in force in the world. At present, 312 million middle class families have sufficient money to buy insurance but only 2.5 percent of the country's insurable population is currently insured in one form or another.It has a lot to offer to prospective insurers. The new economic reality of globalization has led to radical changes like new types of risks that require new types of covers to match such risk situations. Low economic growth rates in the industrial nations accompanied...