Understanding the Life Insurance Act 1995: Safeguarding Policyholders and Ensuring Industry Integrity
Introduction to the Life Insurance Act 1995 The Life Insurance Act 1995 is a significant piece of legislation that governs the regulation and operation of the life insurance industry in [Country Name]. The act establishes the framework for conducting life insurance business, sets out the rights and responsibilities of policyholders and life insurance companies, and ensures consumer protection within the industry. In this article, we will explore the purpose, key provisions, consumer protection measures, and impact of the Life Insurance Act 1995. Purpose and Scope of the Act The primary purpose …
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