The success of insurance sector reforms in India finally rests on the way and the manner in which the different insurance regulatory provisions are put in to effective executive teller and sprit, the kind if positive response and firm support from employees association and to what extent the awareness among the consumers and intermediaries will be created with regard to the need for insurance not as a mean to enjoy tax benefits but rather as a compulsion to protect the interest of family members of policyholders. Liberalization of the insurance sector in the ultimate analysis will be increasing involvement of these powerful players in the Indian scenario.