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Insurance is described as a social device to or eliminate risk of loss to life and property. Insurance is a collective bearing of risk. Insurance spreads the risks and losses of few people among a large number of people as people prefer small fixed liability instead of big uncertain and changing liability. Insurance is a scheme of economic operation by which members of the community share the unavoidable risks. The risks which can be insured against include five, the perils of sea, death, accident and burglary. The

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Yuvaraj .V. (2019). A Study on Policyholders Satisfaction Towards Marketing Practices of LIC Products. Thematics Journal of Geography, 8(12), 264-268. Retrieved from