We study lepton polarization asymmetries in the (Lambda_b -> Lambda l^+ l^-)
decay using the most general model independent effective Hamiltonian. The
dependence of the lepton polarizations and their combinations on the new Wilson
coefficients are studied in detail. It is observed that there is a region for
the new Wilson coefficients for which the branching ratio coincides with the
standard model prediction, while lepton polarizations show considerable
departure from standard model.Comment: 18 pages, 11 figures, LaTeX formatte