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Volume & Issue no: Volume 3, Issue 10, October 2014

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Title:
Awareness and impact of Globalization of Life insurance in India
Author Name:
Jyoti Agarwal, Dr.K.K. Shukla
Abstract:
ABSTRACT Though the concept of insurance is quiet old, many households do not understand the concept of insurance. However, insured households do understand the insurance concept better than the uninsured. The study shows that a high proportion of households connect insurance with loss of life. The misconceptions are more prevalent among the uninsured households. With respect to major sources of information on insurance, the study indicates that insurance agents are the major source in both rural and urban areas, playing an important role in influencing the household’s decision in favour of insurance. Other important sources of information are friends, relatives and the media. The present research paper tries to know on whose persuasion a person purchases policy, their preference, reasons behind it, area of improvement etc. and will also suggest how the incorporated strategies have helped LIC of India. Keywords:- Insurance, Misconception, LIC of India, Insurance Agents
Cite this article:
Jyoti Agarwal, Dr.K.K. Shukla , " Awareness and impact of Globalization of Life insurance in India" , International Journal of Application or Innovation in Engineering & Management (IJAIEM) , Volume 3, Issue 10, October 2014 , pp. 001-008 , ISSN 2319 - 4847.
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