Perception of customers towards life insurance products

The insurance sector as a whole has contributed to the development of the economy through the generation of employment opportunities, acceleration of industrial growth, generation of income, etc. The three main aspects with regard to the perception of customers towards life insurance are awareness level, service quality, and satisfaction level of policyholders. The study tries to evaluate the perception of customers towards life insurance products in respect of the services rendered to them by LIC and the study was restricted to Mavelikara Taluk. The study uses a survey method to collect information from the customers through both primary and secondary data. Several methods like chi-square, composite indices, Likert scale were used for analysing the data collected from the respondents. In short, this study identifies life insurance products as an ample source of investment and opportunity for the common public for boosting up their threshold for money-saving habits.