Life insurance in its modern form came to India from England in the year

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	1818
B	1896
C	1905
D	1907

Explanation:

Detailed explanation-1: -Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil.

Detailed explanation-2: -The advent of the life insurance business in India was introduced in 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.

Detailed explanation-3: -Advent of life insurance business in India. 1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency.

Detailed explanation-4: -The earliest known life insurance policy was made in Royal Exchange, London on 18 June 1583. A Richard Martin insured a William Gybbons, paying thirteen merchants 30 pounds for 400 if the insured dies within one year.

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