Customer's Satisfaction In Life Insurance

Journal Name: 
Journal of Banking, Information Technology & Management
Volume: 
Vol. 14 - No. 1
Authors: 
Author Name Designation Organization
Jaya Uniyal
Harish Chandra Raturi
Abstract: 

The sample size was constituted from the seven cities (district headquarters) of the Garhwal region out of which 25 respondents from each (public and private) sector have been chosen on the basis of convenience sampling method. In all 350 respondents (175 each public and private) have been approached. The data related to performance of insurance companies over the years, attitude of consumers towards public and private insurance companies, their expectations, perceptions and satisfaction have been analyzed using statistical tools chi-square test. Most of the people are satisfied with the context of their life insurance cover. People do not consider life insurance as a good savings because of low returns. As life insurance is a long term contract; maximum people do not have faith on private life insurance companies, they still prefer LIC.