A STUDY ON LIFE INSURANCE POLICIES AS AN INVESTMENT OPTION FOR INVESTORS.

Abstract

As the life of a human is the most precious asset in the world, life insurance is treated as one of the important means to provide protection to a person and his family members at the time of disaster. The main aims of life insurance are providing protection as well as safety to the life of individuals, boosts savings among people etc. LIC is the most trusted and the most popular brand in the life insurance sector. Thus the market share of LIC is gradually increasing due to common people trust. LIC always focuses on coming with innovative products and services to retain their existing customers and attract new customers. Through this way LIC achieved monopoly in the business of life insurance in India. They are taking a great effort to increase the awareness level among customers by using innovative advertising techniques. Like any other sector, privatization witnessed dynamic changes in the insurance industry. Most of the private insurance companies are joint ventures with recognized foreign players across the world to keep their profits high. In order to sustain in the industry every company is trying to have a proper understanding of customers as they are the main pillar of life insurance business. The customers need and expectations help insurance providers to bring improvements in product as well as services offered.  This study is mainly conducted to identify various factors influencing investment decision of customers in life insurance. It also tries to analyze the awareness and satisfaction level of investors towards life insurance policies.