To Study the Investors’ Behavior towards Life Insurance Products

Mr. Ketan Prajapati et. al. / International Journal for Research in
Management and Pharmacy (IJRMP)

Vol.2, Issue 1, January 2013
ISSN : 2320-0901

To Study the Investors’ Behavior towards Life
Insurance Products
MR. KETAN PRAJAPATI
Asst. Professor,
Shri Satsangi Saket Dham “Ram Ashram” Group of Institutions,
Faculty of Management, Vadasma,
District Mehsana, Gujarat (India)
E-mail: [e-mail]

DR. KISHOR BARAD
Professor and Area Chair,
Shanti Business School, Ahmedabad,
Gujarat (India)
E-mail: [e-mail]

Abstract:
Life insurance basically is a tool against protection of life or against any unforeseen event or death of individuals. It provides financial protection against such risks. The purpose of investments in life insurance for every individual might differ. At present there are 23 private life insurance companies and one public life insurance company. This large number of life insurance companies and having wide range of products confuse the investors as to which product and of which company to purchase. So marketers are interested to know the investment pattern of life insurance investors in order to form their marketing strategies. The present paper is an attempt to know the behavior of individual with related to life insurance and also to know the problems faced by them. The study revealed that Insurance advisor is the main influencer in investment decision of life insurance investors and they depend largely on the insurance advisor.
Keywords: Life Insurance, Investment Decision, Insurance Advisor, Private Insurance
Company, Life Insurance Corporation of India (LIC)
1. Introduction
Investors’ behavior is the study of how individuals make decision to spend their available resources (time, money and efforts) on investment related items. It helps the marketers to understand what, why, where, when and how an investor behaves with respect to products and services. Knowing answer to this question let

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