Literature review of consumer buying behaviour for lic policies

Mainly due to the change in perception. In addition to this trust on LIC of India, due to its good image helps the agent earn trust among policyholders.

A study of buying behaviour of consumers towards life insurance policies

Mainly due to the change in perception. As the enacting of legislation would have taken time, the then Government constituted through a Government resolution an Interim Insurance Regulatory Authority pending the enactment of a comprehensive legislation. It influences most the policyholders to purchase products of public life insurance companies. The general insurance business was nationalized after the promulgation of General Insurance Corporation GIC OF India undertook the post-nationalization general insurance business. LIC of India pioneer in the industry has introduced many successful products. Different dates may be appointed for different provisions of this Act. Respondents feel that the advertisement and sales promotiom of LIC of India is effective and persuade enough and less influencing them in a purchase decision.

Policyholders of private life insurance perceive this as a most influencing factors on purchasing private life insurance products. Abdalelah S.

Babita yadav list out the factors influencing purchase decisions of life insurance consumers. The extensive distribution channel with the weighted score is given seventh rank among 9 that factors that influence policyholders purchase decision on products of public life insurance company.

Further weighted score was used to rank the factors. In British introduced to India, with the establishment of the oriental life insurance company in Calcutta.

Questionnaire on insurance awareness

It influences policyholders to purchase products of LIC of India. Then each cell multiplied with the respective weights, row total were obtained and termed as weighted score. LIC formed by an Act of Parliament, viz. No The life insurance act, was the first statuary measure to regulate the life insurance business in India. The investment is denoted as units and represented by the value called as net asset value NAV. Malhotra, was formed to evaluate the Indian insurance industry and recommend its future direction. The Product feature with weighted score is given First rank among 9 factors that influence policyholders purchase decision on products of private life insurance companies. Well structured questionnaire used as a data collection tool.

Private life insurance companies started their business with much emphasis on promoting life insurance through traditional insurance agents channel. That makes internet marketing quite influencing. No Rajesh, J. Athma, p.

customer attitude towards life insurance

So the study is interested to test the influence of the above said factors in the purchase of insurance products.

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Consumers Buying behaviour in life insurance