Understanding Life Insurance Acts
Introduction to Life Insurance Acts Life insurance acts are legislative frameworks that govern the operations, practices, and regulations of the life insurance industry. These acts are designed to ensure consumer protection, establish standards of conduct, and provide a regulatory framework for life insurance companies. In this article, we will explore the purpose, key provisions, consumer protection, and impact of life insurance acts. Purpose and Importance of Life Insurance Acts The primary purpose of life insurance acts is to protect the interests of policyholders and maintain the integrity of the life insurance …
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