Customers’ Preference towards Life Insurance Policies

Description:

Project on Customers' Preference towards Life Insurance Policies explain how customers choose different life insurance plans based on their needs, income, and financial goals. Life insurance provides financial protection to families and supports long-term savings and investment planning. Customers prefer policies that offer security, affordability, and good returns.

Customer preference depends on factors such as premium amount, coverage benefits, claim settlement ratio, company reputation, and agent support. Some customers choose term insurance for pure protection, while others prefer endowment plans or ULIPs for savings and investment. Family responsibilities, age, and risk perception also influence decisions.

Insurance companies use marketing campaigns, financial awareness programs, and digital platforms to attract customers and explain policy benefits. Easy policy purchase, online premium payment, and customer support improve customer experience and trust. Recommendations from friends, family, and financial advisors also affect customer choices.

Studying customer preference towards life insurance policies helps understand buying behaviour and market demand. It supports companies in designing better products and services. Understanding customer needs improves satisfaction, increases policy adoption, and strengthens long-term relationships between insurers and customers.