A Study on Issues in Marketing of Life Insurance Services in India

Insurance and economic development in India manifest straight effective correlation on the ballooning track way. Insurance companies, both life and nonlife, have been playing the role of nancial conciliator and accomplish remarkably useful functions in our economy. In India, Insurance sector was opened for private participation with the enactment of the IDRA Act 1999. Since then, 22 private companies have been established in life insurance sector. All these players are actively introducing inventive products to meet the peculiar needs of intended policyholders. However, life insurance companies, particularly private sector players, give additional consciousness in selling unit liked plans that are not suited to the real needs of the insured. This paper shows the important aspects of life insurance marketing activity from a services point of view and highlights the present issues and challenges facing the life insurance companies in product marketing. Overall my paper shows the important aspects of life insurance sectors challenges, opportunities facing the life insurance companies in product marketing