A Study on Customers’ Perception Towards Life Insurance Corporation Products with Reference to Chennai City

Purpose: The objective of this study is to assess the level of customer perception towards Life Insurance Corporation in the city of Chennai. The study aims to identify the factors influencing customers' decision-making process in selecting life insurance products. Theoretical Framework: Life insurance is a crucial aspect of financial planning, providing protection to individuals and their families against unforeseen events such as accidental death or disability. In the current scenario, there are numerous insurance companies offering life insurance products, with public limited companies being the preferred choice for investment due to their ability to safeguard both the amount invested and the policyholder's life. Insurance companies play a vital role in promoting the well-being of individuals by offering protection against life risks. Design/Methodology/Approach: The data for this study was collected using a well-structured questionnaire and statistical techniques such as descriptive and percentage analyses were used to analyze the data. Findings: The study showed that research finding brings practical value in improving customer perception in Chennai. The Article identifies the key elements to enhance the customer perception. Research, Practical & Social implications: The study has fused the theory of service quality and customer perception. In addition, the study has systematized the relationship between the factors measuring the service quality of life insurance and customer satisfaction. Originality/value: The paper's originality and value assist policy providers to regulate and weigh the measure they have been using and adjust into a set of observed variables measuring the customers’ perception of Life Insurance Corporation in Chennai. This study provides new roadmap to a future study on customer Perception towards life insurance Corporation, a document for other research in the life insurance field.