A Study on Customer Satisfaction of Life Insurance Policies with Special Reference to Lic, Nandyal Town

M.T. Jalandhara Reddy, Dr. B. C. Lakshmanna

Abstract


This study focus on the customer expectation and satisfaction level of life insurance policyholders, towards product, price and other services offered by LIC life insurance  company in India. Information is collected through questionnaire from 210 respondents from  Demographic data was also collected from these policyholders. Data was  analyzed to find out the customer satisfaction in terms of services offered by LIC. As per the analysis, majority of the policy holders satisfied with the services offered by LIC. It has been recommended that life insurance awareness should be spread and misperception towards life insurance should be cleared with the help of counseling and agent.Life insurance cannot be compared with any other form of investment as life insurance gives you a life long benefit and returns on your money when it is most required. Insurance premiums are linked to age of the life insured and the earlier you buy, the lower are the premium requirements. Besides, the money stays invested for a longer time and thereby maximizing your returns through the power of rupee compounding. This study mainly deals with customer satisfaction of life insurance policies with special reference to LIC life insurance, chennai.


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