TABLE OF CONTENTS INTRODUCTION; ORIGIN; NATIONALIZATION OF LIFE INSURANCE; PRIVATIZATION OF LIFE INSURANCE IN INDIA; RESEARCH METHODOLOGY ; CHAPTER 1- FEATURES OF LIFE INSURANCE CONTRACT; 1. DEFINITION OF INSURANCE; 2. NATURE AND SCOPE OF LIFE INSURANCE CONTRACT; 3. ALEATORY CONTRACT; 4. UNILATERAL CONTRACT; 5. CONDITIONAL CONTRACT OR CONTINGENT CONTRACT; 6. CONTRACT OF ADHESION; 7. CONTRACT TO PAY STATED SUM; 8. ESSENTIALS OF VALID CONTRACT; 9. PARTIES TO CONTRACT; 10. COMPETENCY OF INSURER; 11. COMPETENCY OF APPLICANT FOR INSURANCE; 12. MINORS; 13. CHILDREN'S POLICY; 14. DEFERRED ENDOWMENT POLICIES; 15. ALIENS; 16. MARRIED WOMEN; 17. CORPORATIONS; 18. PERSONS OF UNSOUND MIND; 19. MUTUAL ASSENT. I.E. PROPOSAL AND ACCEPTANCE ; 20. CASES ; 20. RISK COVERED IN LIFE INSURANCE ; CHAPTER 2- INSURABLE INTEREST IN LIFE INSURANCE ; 1.DEFINITION OF INSURABLE INTEREST ; 2. NATURE OF INSURABLE INTEREST ; 3. PRESENCE OF INSURABLE INTEREST ; 4. LIFE INSURANCE AND INSURABLE INTERST ; 5. INSURABLE INTEREST IN LIFE INSURANCE ; 6. FOREIGN DECISIONS RELATING TO INSURABLE INTEREST ; 7. INSURABLE INTEREST; 8. INSURABLE INTEREST IN INDIA; 9. DALBY INDIA AND LONDON LIFE ASSURANCE CO. (1854); 10. INSURABLE INTEREST AND OWN LIFE POLICIES; 11. ASSIGNMENT OF POLICY IMMEDIATELY AFTER ISSUE ; 12. LIFE INSURANCE IS NOT CONTRACT OF INDEMNITY ; CHAPTER 3- LIFE INSURANCE POLICY: ITS PROVISION; 1.PROOF OF AGE: 2. DAYS OF GRACE ; 3. ALTERATION IN THE POLICY ; 4. LAPSE OF POLICIES ; 5. SURRENDER VALUE ; 6. NOMINATION; 7. ASSIGNMENT;; CHAPTER 4- LIFE INSURANCE CLAIMS UNDER THE CONSUMER PROTECTION ACT, 1986; 1. INSURANCE OMBUDSMANE; 2. CIVIL COURTS; 3. MONOPOLIES RESTRICTIVE TRADE PRACTICES (MRTP) COMMISSION; 4. THE LEGAL SERVICES AUTHORITY ACT, 1987; 5. CONSUMER PROTECTION ACT, 1986 AND LIFE INSURANCE; CHAPTER 5- CONCLUSIONS AND SUGGESTIONS ; SUGGESTIONS.