Book Title: Contemporary Research Across Disciplines

Editors:  Dr. R. Saravana Selvakumar and Mr. R. Venkatesan

ISBN:  978-81-978738-1-2

Chapter: 10

DOI: https://doi.org/10.59646/crc10/278

Author: Mrs. S. Jeyalakshmi, Assistant Professor, Department of Commerce, G. Venkataswamy Naidu College (Autonomous), Kovilpatti, Tamil Nadu, India

Abstract

Life is filled with uncertainties, and with those uncertainties come risks. To safeguard ourselves and our loved ones against these risks, it’s essential to have protective measures in place. Life insurance is a key tool that provides financial security in unfortunate accidents or significant life incidents. This study examines customer satisfaction with Life Insurance Corporation (LIC) policies in Virudhunagar. The research involved 50 randomly selected and insured respondents under various LIC policies. A detailed questionnaire consisting of ten questions was administered to assess customer satisfaction, focusing on areas such as the Grievance Redressal Mechanism, documentation process, and policy maturity issues. The findings indicate that while many customers are content with the services offered by LIC, areas need improvement, particularly in marketing efforts and customer service. The research highlights the critical role of customer satisfaction in maintaining a competitive edge in the insurance market. It suggests that LIC should refine its services further to meet customer expectations better.

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