A STUDY ON THE POLICYHOLDERS SATISFACTION IN TERM INSURANCE POLICIES IN LIFE INSURANCE CORPORATION OF INDIA - A STUDY WITH REFERENCE TO KARAIKUDI TOWN

ABSTRACT

Human life is a most important asset and life insurance is the most important type of insurance which provides financial protection to a person and his family at the time of uncertain risks or damage. LIC of India plays a vital role in the welfare of human well-being by providing insurance to millions of people against life risks such as uncertain death or accident. The present exploratory and descriptive based study was selected with an objective to identify that satisfaction level of LIC policyholder in the selected area. This study is based on primary data which is collected through questionnaire among 100 policyholders in karaikudi town and data were analyzed with multi variety statistical tools like percentage, ANOVA and factor analyses were used to identify the factors responsible for satisfaction towards LIC. there is no significant mean variation between reasons for select the LIC with their gender. The proportion of total variance explained by all these three factors in the actual data is 76.27 percent