Summary |
The life insurance plays a significant role in the well-being of the people. Till insurance sector reforms, the LIC has enjoyed the monopoly in life insurance business. After liberalization, when private companies were allowed to start life insurance business, a number of multinational giants in life insurance business have collaborated with Indian companies to start insurance business in India. Now this has posed a tough challenge to the LIC because of their latest technical know-how, expertise, well structured marketing network, etc. Of course, the LIC has also made its business functioning flexible and faced the challenges boldly that emerged from the process of insurance sector reforms.
Keeping in view the above issues, the present book on consumer perception towards life insurance products has undertaken a comprehensive study in this regard. In this study, a special mention on consumer behaviour particularly on the consumer perception has been dealt elaborately. Further, the growth and development of life insurance sector has been focused. Apart from this, a survey has been made to study the consumer perception towards insurance products offered by different life insurance companies. A comparative analysis has been made between public and private sector life insurance companies in this regard. Further, to improve the functioning of the life insurance companies and to protect the interest of the policyholders, a few important suggestions have been recommended.
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