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A Study on Purchase Decision Making of Life Insurance Products

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Submitted By jayajeetdas
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Pages 10
“A Study on Purchase Decision Making Of Life Insurance Products”

[Submitted on: 22.12.2014]

Submitted to:
Prof. Anamika

Prepared by:
Jayajeet Das
Group-2
Roll No.-14DM012
Sec-A
PGDM (2014-16)

Institute of Management and Information Science, Bhubaneswar

Acknowledgements

“First and foremost, I avail this opportunity to express my profound sense of sincere and deep gratitude to Prof. Anamika for her valuable and meticulous supervision during the preparation of this Project Report.
Last but not the least I extend my support to all my group members and respondents whose kind cooperation & support helped me to bring out the study report in a successful manner.

Abstract

Insurance occupies an important place in the complex modern world since risk, which can be insured, has increased enormously in every walk of life. This has led to growth in the insurance business and evolution of various types of insurance covers. This research aims at determining consumers’ attitudes towards buying life insurance products and to understand their purchase and repurchase intention. This research was conducted in Bhubaneswar of Odisha taking a sample of 75 LIC and other private insurance customers. Respondents for this survey were selected using random sampling. The survey was done by all our group members. The analysed data has been presented in the form of table, bar graphs and pie-charts. This study also analyzed the repurchasing intention of policy holders. The survey revealed that LIC has a major market share than others. LIC is the most accepted and popular brand in life insurance, the market share of private insurers are gradually increasing with people trust and better services offered by them are some of the main findings of the study. Insurance companies should spread more awareness about life insurance, reduction in premium amount and giving more

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