Abstract
Objective: The objective of the study is to investigate the relationship between the life insurance sector and the economy in India. Specifically, the aim is to understand the determinants of life insurance demand in the country. This research will build on previous studies that have already established a connection between the life insurance industry and economic variables.
Methods: Analyzing the relationship between the growth of the life insurance sector and the Indian economy over a forty-year period (1981-2020) would provide valuable insights into the dynamics between these two important aspects of the country's financial landscape. By examining various macroeconomic factors to identify significant determinants of life insurance demand in India can contribute to a better understanding of the factors that influence people's choices regarding life insurance coverage.
Conclusion: These findings highlight the significance of the life insurance sector in contributing to economic growth and the importance of considering this relationship in economic and financial planning. It is crucial to monitor and nurture this connection to maximize the benefits for both the insurance industry and the broader economy.Top of Form
Publisher
South Florida Publishing LLC
Subject
Law,Development,Management, Monitoring, Policy and Law
Reference71 articles.
1. Hussein, A. A., & Zoghlami, F. (2023). The role of engineering insurance in completing projects by using bank loans: An applied study in a sample of iraqi insurance companies and banks. International Journal of Professional Business Review, 8(1), e0926. https://doi.org/10.26668/businessreview/2023.v8i1.926
2. Ching, K. B., Kogid, M., & Furuoka, F. (2010). Causal relation between life insurance funds and economic growth evidence from Malaysia. ASEAN Economic Bulletin, 27(2), 185. https://doi.org/10.1355/ae27-2c
3. Filer, R. K., Hanousek, J., & Campos, N. F. (1999). Do stock markets promote economic growth? Social Science Research Network. https://doi.org/10.2139/ssrn.1535900
4. Fase, M. M., & Abma, R. (2003). Financial environment and economic growth in selected Asian countries. Journal of Asian Economics, 14(1), 11–21. https://doi.org/10.1016/s1049-0078(02)00237-3
5. Caporale, G. M., Howells, P., & Soliman, A. M. (2004). Stock market development and economic growth: The causal linkage. Journal of Economic Development, 29(1), 33–50. http://eprints.uwe.ac.uk/6318/