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Life insurance plays a key in promoting the socio-economic development of modern economy. It is a policy where an insurance company promises to pay benefit onThe purpose of this paper is to provide a systematic literature review of available research evidence on insurance awareness. Key word search was performed The study bought out. Page 2. IJRFM. Volume 6 , Issue 3 (March, 2016). (ISSN 2231-5985). International Journal of Research in Finance and Marketing (IMPACT 3.3 Benefits of liberalisation and the role of foreign insurers. 3.4 Effects of liberalisation on life insurance sector of India. 3.5 Performance of Life