With the nationalization of insurance industry in 1956, the state-run Life Insurance ‎Corporation of India (LIC)& ‎General Insurance Corporation of India (GIC) assumed monopoly in the country's Life Insurance Sector. Over time, taking advantage of its monopoly and ‎virtual prerogatives in establishing premiums, LIC and GIC have evolved into a ‎monolithic undertaking together forming the insurance sector of the country. With more ‎agents spread in every nook and corner of the country; it has created an enviable brand ‎name, particularly among the rural population of the country.In the post-liberalized era, this ‎industry has become very competitive with private players bringing in new and variant ‎products and marketing techniques. This book aims at gauging the improvements and ‎weaknesses and devising on solutions present in the form of suggestions. This book, ‎therefore, also aims at assessing the impact of economic liberalization on the insurance ‎sector in India so as to prove whether the reforms, in general, have resulted in improving ‎the efficiency of the (LIC) and General Insurance ‎Corporation of India (GIC) or not.‎