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A Study On The Perception of Investors Investing in Life Insurance
A Study On The Perception of Investors Investing in Life Insurance
A Study On The Perception of Investors Investing in Life Insurance
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A study on the perception of Investors Investing in Life Insurance
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CHAPTER – 1
INDUSTRY PROFILE
India has a large and diverse financial industry, and a large number of firms are interested in
doing business in India. Insurance has a very old history in India. The modern concept of
Insurance in India started with the establishment of East India Co in 18 th century. Some
insurance companies from Great Britain started insuring Britishers working in India. First
Insurance Company which was established in Calcutta in 1818 was the Oriental Life Insurance
Company. In 1823, Bombay Life Insurance started its business by insuring lives for 2-3 years.
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Life insurance and non-life insurance are the two main divisions of the Indian insurance market.
General Insurance is another name for the non-life insurance market. Both the Life Insurance and
the Non-life Insurance is governed by the IRDAI (Insurance Regulatory and Development
Authority of India). There are 58 insurance companies in India's insurance sector, of which 24
provide life insurance and 34 provide general insurance. Over the past 20 years, this industry has
experienced an exceptional growth rate. In the case of insurance, the insurer or the insurance
business provides financial security and compensates the victim for their losses.
India's insurance industry contributes significantly to the health of the country's economy. It
greatly expands people's options to save money, protects their future, and aids the insurance
industry in building up a sizable fund reserve. Companies that provide risk management through
insurance contracts make up the insurance sector. The fundamental idea behind insurance is that
one party—the insurer—will make a financial commitment to cover a future event that is
uncertain.
The role of IRDA is to thoroughly monitor the entire insurance sector in India and also act like a
custodian of all the insurance consumer rights. This is the reason all the insurers have to abide by
the rules and regulations of the IRDAI.
In general, life insurance firms issue policies that, in the event of the insured's death, pay a death
benefit in the form of a lump payment. Permanent life insurance is more expensive but lasts a
lifetime and has a cash accumulation. Term life insurance is less expensive but expires at the end
of the term. The insurance industry in India will experience significant development as a result of
certain demographic characteristics, including rising insurance awareness, retirement planning, a
growing middle class, and a young population that is eligible for insurance.
For the next three to five years, the country's life insurance market is anticipated to grow by 14 to
15% each year. IOT continues to have applications outside of telematics and consumer risk
assessment in the Indian insurance business. There are already more than 110+ InsurTech
startups in India. These firms are anticipated to give the sector a significant boost and contribute
to a rise in insurance penetration in India, which is essential to the nation's overall development.
Through a number of laws and programmes, the Indian government has in the past significantly
contributed to expanding the insurance sector's reach. These programmes combined with
demographic factors unique to India, including a developing middle class, a young, insurable
population, and a growing awareness of the need.
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CHAPTER 2
Company Profile
The Leading Solutions is the one stop solution provider for all the financial needs. Its main goal
is to provide consumers with the finest option for managing their money in the most
advantageous way.
TLS is one of the developing consulting firm in India. At TLS, high-end and HNI clients can get
a wide range of administrative services. They assist all of the procedures necessary to manage
customer funds and make future and current plans for the needs of the customer's family and
themselves.
The company offers clients services in taxation, accounting recruitment, and consulting in
addition to portfolio management.
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Mission
Vision
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Services offered by TLS
Services for Consulting
Accounting Services
Taxation Services
Portfolio Administration
Recruitment Services
In the second module, which was the crucial part was to bring in the clients in the organization.
We were assigned with a financial product which we need to introduce to our customers and
make them to invest in the same. We need to send a Daily Sales Report to our Respective Project
Manager about the daily performance.
In the third module we need to submit the PowerPoint presentation and a Research Paper on the
assigned topics so that we can successfully complete our Internship.
SWOT Analysis
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STRENGTHS: -
THE LEADING SOLUTIONS provides comprehensive financial solutions from a single
source, including advisory services ranging from equity research to retirement plans.
They have a great deal of experience researching any industry.
They deal with various financial products to meet everyone’s financial needs.
WEAKNESS: -
Employee strength prevents them from taking on large tasks because the organization’s
industry is extremely competitive.
There are very few promotions available at TLS.
They have a small client base because they are new to industry.
OPPURTUNITIES: -
There is a large pool of potential clients in this industry. Their clientele will only grow as
their numbers rise day by day.
TLS provides investment in various financial products, demonstrating they have the
resources to address all aspects.
This industry is expected to increase in the near future.
.
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THREATS: -
Existing businesses have a well-known brand and a sizeable market share; they operate in
an industry where entry is simple but market survival is difficult.
Competitors have a large customer base and a significant amount of cash on hand.
Fraud and Swindle Threats.
CHAPTER 3
INTRODUCTION TO INSURANCE SECTOR
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The growth and development of insurance industry is altogether contributed to the economic
development of the nation. Basically, insurance sector plays a crucial role in promotion or
enhancement of investment, savings, stabilizing the financial market, financial intermediaries
and risk manager and an agent for allocating or distributing capital sources. Despite the fact that
general insurance in India dates back roughly 150 years, its growth has been slow, as seen by its
low penetration and density. A few components are responsible for this; the chief is being the
monopoly status of the industry till as of late.
The life insurance sector has nationalized in 1956 and the general insurance industry in 1973. In
India, the insurance business has been unable to expand and advance due to a lack of
competition, which has resulted in low productivity and poor service. The liberalization,
globalization and privatization have taken put in India in early 1990s. The insurance sector has
opened up for the private sector in 1999 because of the new economic policy.
The new competitive environment is expected to supply expansive benefits to the industry,
consumers and the economy. The consumer will have more options in terms of product quality
and quantity, affordable premium rates, and effective after-sales services, while the economy
will benefit from increased investment funds, increased funding options for long-term projects,
increased productivity, and the development of multiple debt instruments.
RECENT DEVELOPMENTS
1. Insurance Regulatory and Development Authority of India allowed insurers to invest debt
securities of Infrastructure Trusts and Real Estate Investment Trust this is expected to
provide more investment options for the country’s emerging start up ecosystem.
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2. The Union Cabinet approved an investment of Rs 6000 crore in businesses in September
2021, providing export insurance coverage to support further exports worth Rs 5.6 lakh
crore over the following five years.
3. To strengthen the general financial health of the companies, the Finance Ministry
declared in February 2021 that it will inject Rs. 3000 crores into state-owned general
insurance companies.
4. The purchase of Exide Life Insurance's whole share capital by HDFC Life Insurance was
given approval by the Indian Competition Commission in November 2021. The action is
thought to improve HDFC Life's standing in South India.
5. With a 10.11% increase over the previous year, LIC generated a record first year
premium income of Rs. 56,406 crores under the Individual Assurance business in FY21.
6. LIC Housing Finance announced intentions in June 2021 to raise Rs 2334.69 crore by
issuing preferred equity shares to the Life Insurance Corporation of India.
7. On July 1, 2021, the LIC launched its Saral Pension Scheme, a single-premium, non-
linked, individual instant annuity plan.
8. Aditya Birla Sun Life Insurance announced the introduction of a new vision Life Income
Plus Plan in June 2021. This plan will provide members with guaranteed regular income
as well as adjustable bonus payouts.
GOVERNMENT INITIATIVES
1. The Indian government intends to sell its 7% ownership of LIC in 2022 for a price of Rs.
50,000 crore ($6.62 billion). The size of this initial public offering (IPO) in India is the
largest.
2. The Indian government and the World Bank agreed a contract in November 2021 for a
$40 million initiative to improve Meghalaya's health services, including its health
insurance scheme.
3. In September 2021, the Union Cabinet authorized an investment of Rs. 6,000 crore (US$
804.71 million) in companies that provide export insurance coverage in order to promote
further exports of Rs. 5.6 lakh crore (US$ 75.11 billion) over the following five years.
4. The General Insurance Business (Nationalization) Amendment Bill was approved by the
Parliament in August 2021. The purpose of the measure is to allow state-run general
insurance businesses to be privatized.
5. The FDI cap in insurance was raised by Union Budget 2021 from 49% to 74%. The issue
of digital insurance policies by insurance companies using Digi locker has been
announced by India's Insurance Regulatory and Development Authority (IRDAI).
6. As part of the banking and insurance industry consolidation outlined in the Union Budget
2021, Finance Minister Ms. Nirmala Sitharaman declared that the initial public offering
(IPO) of LIC would take place in FY22. Although LIC's IPO has not yet undergone an
official market assessment, it has the potential to raise Rs. 1 lakh crore (US$ 13.62
billion).
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Road Ahead
CHAPTER 4
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A contract for life insurance is made between the insured and the insurer. It is also referred to as
Life Assurance on occasion. Life insurance contracts are stipulated by the law. In the event of
death, disfigurement, an accident, retirement, future demands, etc., it offers financial protection.
Thus, life insurance contributes to the family's financial stability after their passing. When
buying a life insurance policy, they either pay the insurer in one lump sum or on a regular basis.
They are referred to as premiums.
Definition: - An insurance policy holder and an insurer or assurer enter into a contract for life
insurance under which the insurer agrees to pay a specified beneficiary a certain amount of
money in exchange for a premium in the event that the insured person passes away.
The goal of life insurance is to provide financial security to the remaining dependents after the
death of an insured. Before acquiring a life insurance policy, it is crucial for applicants to assess
their financial condition and determine the level of living needed for their surviving dependents.
Agents or brokers that specialize in life insurance are essential in identifying needs and
determining the kind of life insurance that will best meet those needs.
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Types of Life Insurance Policies
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7. Children Endowment policy
The greatest policy for preparing for children's financial requirements in future marriage
and school is the Children's Endowment Policy. Endowment to 18 or Endowment to 24
are the two varieties available.
9. Annuity Policy
In Insurance, an annuity means a predetermined periodic payout to the insured until the
death of that person. The periodic payment may be on monthly, quarterly, half yearly or
annually basis. In this type of policy, lump-sum amount is not paid. The annuity plans
may also be offered in which periodic payments are to be made for specific number of
years.
In India, both public and private sector are in operation in the field of life insurance.
I. Public Sector
Life Insurance Corporation of India
II. Private Sector
HDFC Standard Life Insurance Co. Ltd
Max New York Life Insurance Co. Ltd
ICICI-Prudential Life Insurance Co. Ltd
Om Kotak Life Insurance Co. Ltd
Birla Sun Life Insurance Co. Ltd
Tata-AIG Life Insurance Co. Ltd
SBI Life Insurance Co. Ltd
ING Vysya Life Insurance Co. Ltd
Allianz Bajaj Life Insurance Co. Ltd
MetLife India Insurance Co. Ltd
Reliance Life Insurance Co. Ltd
AVIVA
Sahara Life Insurance Co
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Shriram Life Insurance Co. Ltd
Bharti AXA Life Insurance Co. Ltd
Future General India Life Insurance Company Ltd
IDBI Fortis Life Insurance Company Ltd
Canara HSBC OBC Life Insurance Company Ltd
Aegon Relegate Life Insurance Company Ltd
DLF Pramerica Life Insurance Co. Ltd
Star Union Daichi Life
India First Life Insurance Company Limited
Objectives of Study
1. To know the overall perception of Investors for various parameters regarding Life
Insurance.
2. To study the significant difference for various demographics regarding perception of
Investors toward Life Insurance.
Hypothesis of Study
On the basis of 2nd objective of the study given below hypothesis has been formulated:
H0: There is no significant difference in the perceptions of investors towards life insurance
on the basis of various categories of demographics().
Research Methodology
The Research design is a conceptual structure within which the research is conducted. It
constitutes the blueprint for the Collection, Measurement and Analysis of data. The research's
technique will determine its success to a large extent. The appropriate methodology will improve
the validity of the findings.
Type of Research
Descriptive Research
Different types of survey and fact findings are included in descriptive research. The primary goal
of descriptive research is to describe the current state of circumstances. As it will describe facts
and other characteristics associated with Investors perception towards life insurance.
This study is descriptive in nature where the data was collected through a well-structured
Questionnaire and Interview.
Sample Size - A sample size of 72 Investors was selected for the purpose of study.
Sampling Procedure:
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The Convenience Sampling method has been used in the current study. The sample has been
drawn from that part of the population that is close to hand. A Questionnaire was distributed to
them in order to gather information on the investor’s perception towards life insurance. The
responses were carried using 5 point Likert scale ranging from strongly agree to strongly
disagree.
Percentage Analysis
T- test
ANOVA Test
I. Primary Data
A questionnaire was used to collect primary data. Data was collected through forms from
various investors dealing in Investment. The company provided us with an opportunity
of working in our regional markets, but due to time and budget constraints we were only
able to survey 72 investors.
II. Secondary Data
Secondary data were gathered from newspapers, business magazines, journals and IRDAI
website.
Thus, combining primary and secondary data study enabled me to reach valuable
conclusions.
Limitations
Every attempt has been taken to make this project error free and obtain meaningful results but no
study is flawless or inclusive of all possible aspects. I believe that there will be chances for error
on account of following limitations-:
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DATA ANALYSIS & DATA INTERPRETATION
Table 1: Classification on the basis of their Gender
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Table 4: Classification on the basis of Age Group
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Table 7: Classification of the Respondents on the basis of Annual Income
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This table reflects the preference of respondents towards short term as
well as long term investments. 22 respondents prefer short term investments, 24 respondents
prefer long term investments and 26 out of 72 respondents prefer both short term and long-term
investments.
Table 10: Impact of Gender on the perception of investors towards Life Insurance
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Understand Customer’s
1.69 2.03 0.093 Accepted
financial needs.
Agent friendly nature
and their 1.60 1.92 0.159 Accepted
cooperativeness.
INTERPRETATION - The table 9 demonstrated the gender impact on the various parameters
for customer’s perception regarding Life Insurance. It has been found that out of 15 parameters
(statements) only 3 parameters that have rejected decision, which indicated that there is a
significant difference between the male and female perception regarding the life insurance .
Table 10: Impact of Marital Status on the perception of investors towards Life
Insurance
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relationship to
company.
Company able to fulfil Accepted
1.76 1.61 0.445
expectation.
Investment in Life Accepted
Insurance is more
1.83 2.13 0.210
secure than Stock
Market.
Understand Customer’s Accepted
1.90 1.81 0.643
financial needs.
Agent friendly nature Accepted
and their 1.88 1.61 0.247
cooperativeness.
INTERPRETATION - The table 10 demonstrated the marital status impact on the various
parameters for customer’s perception regarding Life Insurance. It has been found that out of 15
parameters only 1 parameter that have rejected decision indicated that there is a significant
difference between the married and unmarried status of the respondent’s perception regarding the
life insurance.
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Employees responsible
1.59 1.67 0.654 Accepted
towards customers.
Provides claim on time. 1.66 1.72 0.767 Accepted
Settlement of claim easy
1.66 1.67 0.930 Accepted
on timely.
Satisfy with
relationship to 1.83 1.70 0.461 Accepted
company.
Company able to fulfil
1.52 1.81 0.114 Accepted
expectation.
Investment in Life
Insurance is more
2.17 1.81 0.136 Accepted
secure than Stock
Market.
Understand Customer’s
1.90 1.84 0.776 Accepted
financial needs.
Agent friendly nature
and their 1.83 1.72 0.646 Accepted
cooperativeness.
INTERPRETATION - The table 11 demonstrated the Place of Residence impact on the various
parameters for customer’s perception regarding Life Insurance. It has been found that out of 15
parameters only 2 parameters that have rejected decision indicated that there is a significant
difference between the rural and urban residence of the respondent’s perception regarding the
life insurance.
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Agent responds
1.73 1.51 0.637 Accepted
promptly.
Cooperative and Accepted
1.78 1.51 0.958
friendly agent.
Proper reminder of Accepted
1.81 1.80 0.111
installment by agent.
Benefits are met by Accepted
1.59 1.69 0.253
policy.
Employees responsible Accepted
1.59 1.69 0.637
towards customers.
Provides claim on time. 1.68 1.71 0.859 Accepted
Settlement of claim easy Accepted
1.62 1.71 0.667
on timely.
Satisfy with Accepted
relationship to 1.76 1.74 0.936
company.
Company able to fulfil Accepted
1.73 1.66 0.696
expectation.
Investment in Life Accepted
Insurance is more
1.86 2.06 0.418
secure than Stock
Market.
Understand Customer’s Accepted
1.95 1.77 0.394
financial needs.
Agent friendly nature Accepted
and their 1.86 1.66 0.361
cooperativeness.
Table 13: Test for Equality of Variance, Welch, ANOVA and Mean of Age Group
14 Understand
Customer’s 1.77 2.24 1.72 0.039 0.187
financial needs.
15 Agent friendly
nature and their 1.60 2.12 1.72 0.317 0.198
cooperativeness.
Table 14: Test for Equality of Variance, Welch, ANOVA and Mean of
Occupation
Statements Mean
S.
Student Service Self Levene Welch ANOVA
No.
Employed
1 Provide services
1.46 1.65 1.16 < .001 0.005
on time.
2 Provide
satisfactory 1.58 1.87 1.32 0.120 0.015
services.
3 Agent is well
informed about 1.38 1.65 1.32 0.157 0.301
policies.
4 Agent responds
1.33 2.09 1.48 0.661 0.002
promptly.
5 Cooperative
and friendly 1.58 1.87 1.52 0.380 0.204
agent.
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6 Proper
reminder of
1.88 1.96 1.60 0.119 0.327
installment by
agent.
7 Benefits are met
1.54 1.96 1.44 0.162 0.066
by policy.
8 Employees
responsible
1.75 1.91 1.28 0.012 0.006
towards
customers.
9 Provides claim
1.63 1.96 1.52 0.125 0.232
on time.
10 Settlement of
claim easy on 1.67 1.96 1.40 0.027 0.064
timely.
11 Satisfy with
relationship to 1.88 1.91 1.48 0.929 0.068
company.
12 Company able
to fulfil 1.75 1.96 1.40 0.011 0.014
expectation.
13 Investment in
Life Insurance
is more secure 2.17 2.22 1.52 < .001 0.007
than Stock
Market.
14 Understand
Customer’s 1.96 2.13 1.52 0.931 0.037
financial needs.
15 Agent friendly
nature and
1.67 2.17 1.48 0.561 0.033
their
cooperativeness.
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0.05. So, Fisher test (equal variance assumed) has been applied. Further after the application of
the Welch and ANOVA and then viewing its p-value. If the p-value of both the test is less than
0.05 then post-hoc test has been applied.
In table 14.1, Games-Howell Post-Hoc test has been applied because while applying Welch
test, we found that the value of parameter (Provide services on time) is less than 0.05. So, for this
parameter, we tested it for multiple comparisons for different categories of occupation. For this
parameter it has been found that for that for category student with other categories of occupation
there found to be no difference as p-value is greater than 0.05. Further, for occupation category
service there found to be significant difference with self employed as p-value is less than 0.05.
In table 14.2, Games-Howell Post-Hoc test has been applied because while applying Welch
test, we found that the value of parameter (Employees responsible towards customers) is less
than 0.05. So, for this parameter, we tested it for multiple comparisons for different categories of
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occupation. For this parameter it has been found that for category student with occupation
category service there found to be no difference as p-value is greater than 0.05 and with category
self-employed there found to be difference as p-value is less than 0.05. Further, for occupation
category service there found to be significant difference with self-employed as p-value is less
than 0.05.
In table 14.3, Games-Howell Post-Hoc test has been applied because while applying Welch
test, we found that the value of parameter (Investment in Life Insurance is more secure than
stock market) is less than 0.05. So, for this parameter, we tested it for multiple comparisons for
different categories of occupation. For this parameter it has been found that for that for category
student with other categories of occupation there found to be no difference as p-value is greater
than 0.05. Further, for occupation category service there found to be significant difference with
self-employed as p-value is less than 0.05.
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Table 14.4 Games-Howell Post-hoc Test – Company able to fulfill expectation.
Self
Student Service
Employed
p-value —
In table 14.4, Games-Howell Post-Hoc test has been applied because while applying Welch
test, we found that the value of parameter (Company able to fulfill expectation) is less than 0.05.
So, for this parameter, we tested it for multiple comparisons for different categories of
occupation. For this parameter it has been found that for that for category student with other
categories of occupation there found to be no difference as p-value is greater than 0.05. Further,
for occupation category service there found to be significant difference with self-employed as p-
value is less than 0.05.
In table 14.5, Tukey Post-Hoc test has been applied because while applying fisher (ANOVA)
test, we found that the value of parameter (Provide satisfactory services) is less than 0.05. So, for
this parameter, we tested it for multiple comparisons for different categories of occupation. For
this parameter it has been found that for that for category student with other categories of
occupation there found to be no difference as p-value is greater than 0.05. Further, for occupation
category service there found to be significant difference with self-employed as p-value is less
than 0.05.
In table 14.6, Tukey Post-Hoc test has been applied because while applying Fisher (ANOVA)
test, we found that the value of parameter (Agent respond promptly) is less than 0.05. So, for this
parameter, we tested it for multiple comparisons for different categories of occupation. For this
parameter it has been found that for category student with occupation category service there
found to be difference as p-value is less than 0.05 and with category self-employed there found
to be no difference as p-value is greater than 0.05. Further, for occupation category service there
found to be significant difference with self-employed as p-value is less than 0.05.
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Table 15: Test for Equality of Variance, Welch, ANOVA and Mean of Annual
Income
Mean
Statements Below 1 1 Lac – 5 Lac – Above Levene ANOVA
Lac 5 Lac 10 Lac 10 Lac
Provide services on
1.55 1.27 1.50 1.30 0.277 0.316
time.
Provide satisfactory
1.41 1.59 1.83 1.50 0.623 0.243
services.
Agent is well
informed about 1.36 1.55 1.44 1.40 0.189 0.894
policies.
Agent responds
1.50 1.50 1.89 1.70 0.482 0.374
promptly.
Cooperative and
1.45 1.55 1.83 2.00 0.411 0.126
friendly agent.
Proper reminder of
1.73 1.68 2.22 1.50 0.705 0.107
installment by agent.
Benefits are met by
1.45 1.59 2.00 1.50 0.359 0.165
policy.
Employees
responsible towards 1.45 1.59 1.78 1.90 0.102 0.434
customers.
Provides claim on
1.59 1.68 1.89 1.60 0.374 0.759
time.
Settlement of claim
1.64 1.59 1.78 1.70 0.714 0.930
easy on timely.
Satisfy with
relationship to 1.82 1.68 1.67 1.90 0.603 0.796
company.
Company able to
1.64 1.55 1.83 1.90 0.579 0.544
fulfil expectation.
Investment in Life
Insurance is more
2.05 1.68 2.28 1.80 0.497 0.271
secure than Stock
Market.
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Understand
Customer’s financial 1.91 1.77 2.00 1.70 0.870 0.780
needs.
Agent friendly
nature and their 1.64 1.73 2.00 1.70 0.533 0.676
cooperativeness.
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INTERPRETATION - In the above table for most of the parameters of Mean value is near by
one and two for the perception towards life insurance. So, it is concluded that the perception of
investors will remain inclined towards Life Insurance. The Standard Deviation of the variation
should always find between 0 to 1. In this, the standard deviation of all the parameters is come
between 0 to 1. If standard deviation is more than 1, it indicates that respondent’s response can
vary in future from the current state.
Conclusions: -
In current Indian market, the habits of Indian consumers towards investment are changing
very frequently. The study of this research work was focused over the perception of
investors investing in Life Insurance. The objectives of the study were to evaluate the
overall perception of Investors for various parameters regarding Life Insurance and to
study the significant difference for various demographics regarding perception of
Investors toward Life Insurance. The tests that were used for our research studies are: -
Percentage Analysis, T- test, ANOVA Test. The consumer’s perception towards Life
Insurance Policies is positive and stable to some extent. Its stability will be defined from
standard deviation because of all the parameters(statements) is less than 1. But still some
actions are needed for developing the insurance market so that more and more customers
invest in the Life Insurance Policies. Insurance industry has to go ahead. A lot of
opportunities are still waiting. This research will help in developing the market share and
further development in insurance sector by study the impact of various demographics on
the various parameters related to Life Insurance.
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The agents have to define the terms and conditions of the policy clear and no ambiguity.
They also have to respond both urban and rural investors in more appropriate manner.
The insurance companies should design their websites with more security features and
provide accurate, correct and sufficient information about products and services so that
they will more secure in investment than stock market.
Clear information about the policy that is covered under that specify policy and also
should update the information regularly.
To create more reach in the market, they have to develop the different products to cater
the needs of various categories of population.
Empathy towards customers always takes precedence in non-monetary issues related to
policies. In this regard, it is strongly advised to provide the employees, agents, and others
who engage with clients with the necessary training and personality development.
To generate awareness among customers about benefits of insurance products will help
them to increase the more customer base and improve their performance.
Effective handling customer queries and customer care services is also recommended to
companies should provide after the issue also.
It is also suggested that the cost of the product must be as per customer expectations and
price of the product would be given firstly by understanding their financial needs.
BIBLIOGRAPHY
https://www.theleadingsolutions.com/
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https://www.ibef.org/industry/insurance-sector-india
https://www.irdai.gov.in/
https://financialservices.gov.in/
https://www.google.com/
https://www.academia.edu/43821533/Research_Methodology_by_C_R_Kothari
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