The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled ‘Role of Life Insurance in National Economy’ is a book form of a lecture delivered by Mr Era Sezhiyan on the auspices of the A.D Shroff Memorial Trust in Bombay. The booklet was published on 28th October 1985.
The booklet proclaims the disproportionate allocation of government funds and unfair social welfare policy. As per the world bank report, the government expenditure is relatively less in a low per capita GNP than a nation with a high level of per capita income. He explains the failure of the nationalisation of LIC in the mobilising of savings from the household sector. To overcome the mismanagement crisis due to nationalisation, Mr Era suggests the establishment of five non-competitive organisation instead of one main organisation, extracting a higher degree of accountability, the need to extend the benefits to neglected areas and lastly, to incentivise policyholders to invest their savings in life insurance by improving returns from different competing ways of saving.