A Study on Factors Affecting Customers Preference towards Life Insurance Policies

Introduction

This study entitled ‘A study on factors affecting customers preference towards life insurance policies’ is an MBA marketing project aimed at studying the awareness level and preference for various investment avenues and the perception of investors with special reference to Life Insurance Corporation (LIC) of India. This study has also concentrated on the preference for timing of investment and types of insurance plans. Information pertaining to whether one is aware about various investment avenues or not was collected. In order to assess the perception of the respondents some agree-disagree questions were asked. They were used to assess their interest in various Life Insurance tools other than protection and their choice of duration for investment.

Human life is the most important asset and life insurance is the most important type of insurance which provides financial protection to a person and his family at the time of uncertain risks or damage. Life insurance provides both safety and protection to individuals and also encourages savings among people. Human life is the most important asset and life insurance is the most important type of insurance which provides financial protection to a person and his family at the time of uncertain risks or damage. Life insurance provides both safety and protection to individuals and also encourages savings among people. Lic of India plays a vital role in the welfare of human well-being by providing insurance to millions of people against life risks such as uncertain death or accident. The present exploratory and descriptive based study was selected with an objective to identify those factors which influence customers policy buying decision and also analyze the preferences of customers while life policy investment decision-making.

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