Consumer Preference towards Life Insurance Policies in Odisha

Abstract

Future losses are uncertain. To deal with the future losses the level of risk also increases, hence insurance is also needed. In order to having a protection against financial issues, insurance policies acts as a protection shield against future risk and uncertainties. This research paper is based on the preference and intention in the mind of consumers towards life insurance policies. This paper involves the study among 200 respondents to figure out the opinions of the policyholders as well as customers. The perceptions of the different respondents have been gathered with a scale of 5 point known as likerts scale. Again the factor analysis, reliability analysis and other techniques have been followed to get the desired results. This paper point out that the expectations of each and every consumers as regards the life insurance products are different based on different factors.