Perception And Preference Of Policy Holders Towards Insurance Products Offered By Lic Of India, Coimbatore.

Abstract

Policyholder Satisfaction Significantly Impacts Customer Loyalty, Particularly In The Insurance Sector, Where Complex Products, Premium Rates, And Service Quality Widespread Industry Practices. This Study Investigates The Perception And Preference Of Policyholders Towards Insurance Products Offered By LIC Of India In Coimbatore, Surveying 121 Policyholders To Examine Their Needs, Expectations, And Satisfaction Levels. The Research Explores Various Insurance Products, Including Life, Health, And Pension Plans, To Assess Their Effectiveness In Meeting Policyholders' Requirements And Enhancing Their Loyalty. Key Findings Indicate That Policyholders' Preferences Are Influenced By Factors Such As Premium Rates, Service Quality, And Product Features, And That Effective Product Design And Service Delivery Yield Improved Policyholder Satisfaction, Reduced Lapsation Rates, And Increased Customer Loyalty. This Study Emphasizes The Importance Of Understanding Policyholders' Perception And Preference To Design And Deliver Insurance Products That Meet Their Evolving Needs And Expectations.

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