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Presently, huge masses of digital data about products, customers and competitors have become available for companies in the services sector. In order to exploit its inherent knowledge for improving business processes, the application of data mining technology is the only way for reaching good and efficient results. The idea of applying data mining may suit to any of the real world application area. In the present research work, data mining has been applied on Indian Life Insurance Sector due to cut throat competition between the public and private players of this service sector. The overall objective of this endeavor therefore is to develop a predictive model for life insurance sector by using the data mining technique. In order to achieve this, four objectives are framed in this research work. The entire study is divided into six chapters. These chapters are supplemented by Five Annexures and at last the references are added along with the list of publications.