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A STUDY OF FACTORS AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE POLICIES

Dr. Chhaya Mishra Dr. Deepesh Mahajan

Abstract


Insurance can be defined as a ‘Legal contract between two parties where by one partycalled insurer undertakes to pay a fixed amount of money on the happening of a particular event,which may be certain or uncertain’. Legally it is only a contract of indemnity. The other party called insured pays in exchange a fixed sumknown as premium. Insurance is to safeguard against possible losses on account of risks. It is a financial compensation for the losses suffereddue to unforeseen outcomes.

Life insurance is the most important type of insurance which provides earnings replacement and financial protection to a person and his family in case of risks or accident. Life insurance through contractual obligation helps individuals and also encourages savings among people.

The present study focuses on some vital factors which influence customers policy buying decision and also analyze the preferences of customers while life policy investment decision-making. The data has been collected from both primary as well as secondary sources.

Researcher has taken few hypothesis based on demographic and insurance based preference factors.

The paper concludes with that demographic factors of the people play a major and pivotal role in deciding the purchase of life insurance policies.

Keywords: Life Insurance, Tax Saving,Policies, Brand Image, Investment.


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References


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