India is fast emerging on the world map as a strong economy and a global power. With a huge population and large untapped market, life insurance happens to be a big opportunity in India. Soon after the liberalisation, there was a remarkable improvement in the Indian life insurance industry. Since 1991, the Indian life insurance industry has geared up in all respects, as well as it being forced to face a lot of healthy competition from many national as well as international private insurance players.
The present descriptive and analytical secondary based study was conducted with an objective to analyse the condition of India's life insurance industry post-liberalisation. Ten years of secondary data has been collected and analysed by the researcher between 2001 and 2010. The study focused on analysing the overall impact of liberalisation on life insurance business, in terms of total premium income, market share and number of policies.