“A STUDY ON SATISFACTION OF CUSTOMERS AND

SERVICE QUALITY OF LIC WITH SPECIAL

REFERENCE TO KASARAGOD”

A Project Report

Submitted by

FATHIMATH ARFANA M A

Reg. No: GK17BS0014

Under the Supervision of

Ms SAUMYA M

Lecturer, Dept of Commerce, Dhakheerath Women’s College

Submitted to Kannur University in the partial fulfillment of requirements

for the award of

Bachelor of Commerce (Co-operation)

SCHOOL OF DISTANCE EDUCATION

KANNUR UNIVERSITY

MARCH 2020
 BONAFIDE CERTIFICATE
This is to certify that the project entitled “A STUDY ON SATISFACTION OF
CUSTOMERS AND SERVICE QUALITY OF LIC WITH SPECIAL
REFERENCE TO KASARAGOD” is a bonafide work of FATHIMATH
ARFANA M A Enrl. No: GK17BS0014” who carried out the project work under my
supervision.

Ms SAUMYA M

SUPERVISOR

Lecturer in Commerce

Dhakheerath Women’sCollege

Kasaragod
 DECLARATION

I FATHIMATH ARFANA M A, hereby declare that the project Work

entitled “A STUDY ON SATISFACTION OF CUSTOMERS AND
SERVICE QUALITY OF LIC WITH SPECIAL REFERENCE TO
KASARAGOD” has been prepared by me and submitted to Kannur
University in the partial fulfillment of requirements for the award of
Degree of Bachelor of Commerce, is a record of original work done by
me under the supervision of Ms. SAUMYA M, Dept. of commerce,
Dhakheerath Women’s College.

I also declare that this project work has not been submitted by me fully or
partially for the award of any degree, diploma, title or recognition before.

Countersigned

FATHIMATH ARFANA M A

Reg. No: GK17BS0014

Place: Kasaragod

Date:
 ACKNOWLEDGEMENT

In my endeavor to write this report on “A STUDY ON

SATISFACTION OF CUSTOMERS AND SERVICE QUALITY OF
LIC WITH SPECIAL REFERENCE TO KASARAGOD” I have
fortunate enough to receive whole hearted support and inspiration from
many people.

First of all am greatly indebted to our principal Mrs RAJITHA T V, who

has provided me valuable guidance.

I am immensely grateful to my guide Ms SAUMYA M, Lecturer of

department of commerce, for providing me with scholarly advices and
full-fledged support.

In preparing this report, I am also thankful to the respondents and so

many other people who helped me in many stages of this project work.

Above all I am grateful to my parents and almighty god for the immense
wishing and blessing that gave motivation and confidence to complete
this Project work.
 LIST OF CONTENTS
CHAPTER PAGE
NUMBER NUMBER
DETAILS

1 1. INTRODUCTION
1.1. INTRODUCTION TO THE STUDY
1.2. STATEMENT OF THE PROBLEM
1.3. OBJECTIVES OF THE STUDY
1.4. SCOPE OF THE STUDY 1–4
1.5. METHODOLOGY OF THE
STUDY
1.6. PERIOD OF THE STUDY
1.7. LIMITATIONS OF THE STUDY
1.8. CHAPTER SCHEME

2 THEORETICAL FRAMEWORK 5-13

3 INDUSTRY PROFILE 14-18

4 COMPANY PROFILE 19-25

5 DATA ANALYSIS AND 26-45

INTERPRETATIONS

6 FINDINGS, SUGGESTIONS AND

CONCLUSIONS

6.1 FINDINGS 46-49

6.2 SUGGESTIONS

6.3 CONCLUSIONS

7 BIBLIOGRAPHY 50

8 APENDIX – QUESTIONNAIRE 51-53

 LIST OF TABLES

TABLE PAGE
DETAILS
NUMBER NUMBER
GENDER BASED CLASSIFICATION OF
5.1 26
RESPONDENTS
CLASSIFICATION OF RESPONDENTS ON THE
5.2 BASIS OF THEIR EDUCATIONAL 27
QUALIFICATION
CLASSIFICATION OF RESPONDENTS ON THE
BASIS OF THEIR OCCUPATION
5.3 28

CLASSIFICATION OF RESPONDENTS ON THE

5.4 29
BASIS OF THEIR ANNUAL INCOME
RESIDENTIAL STATUS OF THE RESPONDENT
5.5 30

REASONS FOR CHOOSING LIFE INSURANCE

POLICY FROM LIC
5.6 31

THE AIM OF LIC IN THE OPINION OF THE

5.7 32
RESPONDENTS
TYPE OF THE POLICY HELD BY THE
RESPONDENTS
5.8 33

WHETHER LIC PROVIDES ITS SERVICES AT

5.9 34
THE TIME IT PROMISES TO DO
5.10 WHETHER THE LIC IS IN THE DIRECTION OF 35
 PUBLIC WELFARE

WHETHER THE RISK COVERAGE FACTOR

INCLUDED IN INSURANCE POLICY ATTRACTS
5.11 GENERAL PUBLIC TOWARDS LIC 36

OPINION AFTER INVESTING IN INSURANCE

PLANS OF LIC
5.12 37

WHETHER THE INVESTMENT IS BECAUSE OF

TAX BENEFITS
5.13 38

SATISFACTION LEVEL OF THE RESPONDENTS

ON THE PREMIUM AMOUNT TO BE PAID IN
5.14 INSURANCE PLANS OF LIC 39

SATISFACTION LEVEL OF THE RESPONDENTS

WITH REGARD TO THE RETURN IN INSURANCE
5.15 POLICIES OF LIC 40

WHETHER THE ADVERTISEMENTS ON LIC ARE

5.16 41
USEFUL AND INFORMATIVE
RESPONDENTS RATING ON THE CHARGES OF
5.17 42
INSURANCE POLICIES IN LIC
WHAT THE RESPONDENTS NEED MORE FROM
5.18 43
INSURANCE POLICIES OF LIC
 WHETHER THE RESPONDENTS ARE READY TO
5.19 44
SUGGESST OTHERS TO INVEST IN LIC
OVERALL SATISFACTION WITH THE POLICIES
OF LIC
5.20 45
 LIST OF CHARTS

CHART PAGE
DETAILS
NUMBER NUMBER
GENDER BASED CLASSIFICATION OF
5.1 26
RESPONDENTS
CLASSIFICATION OF RESPONDENTS ON THE
5.2 27
BASIS OF THEIR EDUCATIONAL QUALIFICATION
CLASSIFICATION OF RESPONDENTS ON THE
BASIS OF THEIR OCCUPATION
5.3 28

CLASSIFICATION OF RESPONDENTS ON THE

5.4 29
BASIS OF THEIR ANNUAL INCOME
RESIDENTIAL STATUS OF THE RESPONDENT
5.5 30

REASONS FOR CHOOSING LIFE INSURANCE

POLICY FROM LIC
5.6 31

THE AIM OF LIC IN THE OPINION OF THE

5.7 32
RESPONDENTS
TYPE OF THE POLICY HELD BY THE
5.8 33
RESPONDENTS
WHETHER LIC PROVIDES ITS SERVICES AT THE
5.9 34
TIME IT PROMISES TO DO
WHETHER THE LIC IS IN THE DIRECTION OF
5.10 35
PUBLIC WELFARE
WHETHER THE RISK COVERAGE FACTOR
5.11 36
INCLUDED IN INSURANCE POLICY ATTRACTS
 GENERAL PUBLIC TOWARDS LIC
OPINION AFTER INVESTING IN INSURANCE
PLANS OF LIC
5.12 37

WHETHER THE INVESTMENT IS BECAUSE OF

TAX BENEFITS

5.13 38

SATISFACTION LEVEL OF THE RESPONDENTS ON

THE PREMIUM AMOUNT TO BE PAID IN
5.14 INSURANCE PLANS OF LIC 39

SATISFACTION LEVEL OF THE RESPONDENTS

WITH REGARD TO THE RETURN IN INSURANCE
5.14 POLICIES OF LIC 40

WHETHER THE ADVERTISEMENTS ON LIC ARE

5.16 41
USEFUL AND INFORMATIVE
RESPONDENTS RATING ON THE CHARGES OF
5.17 42
INSURANCE POLICIES IN LIC
WHAT THE RESPONDENTS NEED MORE FROM
INSURANCE POLICIES OF LIC
5.18 43

WHETHER THE RESPONDENTS ARE READY TO

5.19 44
SUGGESST OTHERS TO INVEST IN LIC
 OVERALL SATISFACTION WITH THE POLICIES OF
LIC
5.20 45
 CHAPTER-1

INTRODUCTION
 CHAPTER-2

THEORETICAL
FRAMEWORK
 CHAPTER-3

INDUSTRY PROFILE
 CHAPTER-4

COMPANY PROFILE
 CHAPTER-5

DATA ANALYSIS AND

INTERPRETATION
 CHAPTER-6

FINDINGS, SUGGESTIONS &

CONCLUSION
 CHAPTER - 7

BIBLIOGRAPHY
CHAPTER-8

APPENDIX