Study on Purchase Behavior of Customers towards Life Insurance Product

 Study on Purchase Behavior of Customers towards Life Insurance Product


Abstract 

Even though India has the world's second-largest population, the country's life insurance market is still relatively untapped by foreign and domestic insurers alike. Life Insurance Corporation (LIC) was the only life insurance company in India prior to the opening of the Indian market to multinational insurance companies. Many good schemes were offered by these companies with their global experience and network, but they failed to capture the major market share. LIC is still the largest player in the life insurance market, with a market share of approximately 65 percent. But why don't Indian consumers trust many companies, and why doesn't the majority of the population in India have a life insurance policy, or what are the major factors that influence the buying behaviour of consumers towards life insurance policies in India? -

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Introduction

Life is full of uncertainty and risk. Due to the fact that we are social beings, we also have certain responsibilities. Emotions and rationality play a major role in Indian consumers' purchasing decisions. Some people prefer to think about what will happen in their future rather than what is happening right now. In this regard, life insurance services can be very valuable in terms of mitigating the risks and uncertainties. There are a large number of salaried people and a growing middle class in India's growing economy. As a result, the pendulum swings to the other side, generating the reasons for maintaining a policy.

For More Details About Study on Purchase Behavior of Customers towards Life Insurance Product Please Visit Our Website


Or call us +91 9481545735

Conclusion

India's consumer's investment habits are constantly changing, especially in the current market environment. Everyone has a different perspective when it comes to investing plans. Study of consumer perception of life insurance services was the focus of this research. Study objectives included evaluating the factors that influence consumer perceptions of life insurance policies and comparing the differences between male and female consumer perceptions. For our research, we used the Item to Total Correlation Test, which we applied to 26 items, of which only one was rejected, and 25 were accepted.

For More Details About Study on Purchase Behavior of Customers towards Life Insurance Product Please Visit Our Website


Or call us +91 9481545735

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