Customer Awareness and Satisfaction towards Services of Life Insurance Corporation of India in Athoor Block Dindigul District

Abstract

The insurance sector in India has come a full circle from an open competitive market to a nationalisation and again a liberalised market. Life insurance is generally known as a tool to eliminate risk, replace uncertainty, and ensure timely support to the family in the unfortunate death of an income earner. Sensing risk, measuring it and weighing its cost are an integral part of the administration. The main objective of the study is To know the Customer awareness and satisfaction towards LIC of India and To study the factors influence the customer buying behavior towards LIC products. The insurance business is unique, which is rewarded for managing the risk of the other party. The insurance sector in India not only plays a role in the financial system but also has significant socio-economic functions that provide risk protection to poor people. The insurance sector in India not only plays a role in the financial system but also has significant socio-economic functions that provide risk protection to poor people. The satisfaction of the consumer depends on the actual performance in relation to the buyer’s expectations. If the effectiveness of the product matches the expectations, the consumer is satisfied.