Summer Internship in Lic

9224 words 37 pages

This is to certify that the project work done on Consumer’s attitude towards Investment is a bonafide work carried out by Mr. Sandeep Singh Bhati under my supervision and guidance. The project report is submitted towards the partial fulfillment of 2 – year, full time Post Graduate Diploma in Management.
This work has not been submitted anywhere else for any other degree/diploma. The original work was carried during 15th May to 15 June, 2010 in LIC OF INDIA, Balotra (Rajasthan)

Name & Sign of Faculty
Prof. Nupur Mishra



I am hearty grateful to Mrs. Renu Luthra (director). She have always been an invaluable source of inspiration had work, sincerity and dedication. It gives me immense pleasure in
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Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and these companies were not insuring Indian natives. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub-standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society. Bharat Insurance Company (1896) was also one of such companies inspired by nationalism. The Swadeshi movement of 1905-1907 gave rise to more insurance companies. The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in 1906. In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of the