which company started by Europeans in Calcutta in 1818 was the first modern life insurance company established in India
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Oriental Life Insurance Company was started by Anita Bhavsar to support Europeans needs
The Life Insurance Companies Act and the Provident Fund Act were passed in 1912 to regulate insurance business
Before Independence , it was commonly observed that high premium was charged for Indians as compared to European People.
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The first modern life insurance company in India was established by the English in the year 1818.
It was called as the Oriental Life Insurance company started primarily formed to meet the needs of the British living in India.
Later, due to continuous efforts of eminent people, the company began to insure for the native Indians. This company is now currently known as the Life Insurance Corporation of India.
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