Journal Press India^®

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Life insurance market is being increasingly recognised as an engine of economic growth. It fulfils the twin objectives of providing social security and long term funds for the economy. The present study is an attempt to study the life insurance performance of the selected economies according to the two accepted parameters, namely, life insurance penetration and life insurance density. This international comparison over the period 2001 to 2011 is successful in bringing out certain interesting results. The developed economies exhibit high penetration and density of life insurance but their growth is retarded. The developing economies, on the other hand, despite of lagging behind in absolute terms of both penetration and density have shown stupendous growth. This shows the hidden potential for the growth of life insurance in case of the developing economies where the developed economies have reached saturation.

Keywords

Life insurance market, Economic growth, Life insurance penetration, Life insurance density

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