A STUDY OF CONSUMER BEHAVIOUR FOR LIFE INSURANCE POLICY:INTRODUCTION:In the partial fulfillment of the requirement for the degree

of the master of business administration from SMU I am doing this Project. Consumer behavior is the study of individuals or organizations and the activities undertaken by them to select, procure and use products or services to satisfy their needs and wants. This study focuses on the consumer behavior and awareness of life insurance towards risk security, the core product of life insurance. The primary drivers of demand for risk security are 'Age', 'Income', 'Affordability', 'Wealth' and finally 'the desire to protect income from Inflation'. Though aggregate demand is driven by these factors, various researches have shown that there is little correlation between a specific family's need for security and its actual purchase of insurance. Many families, especially young ones, have either no risk security or inadequate security. This study mostly focuses at the rural area to know consumer perception about Indian insurance company according to its services and plans available on the basis of customers age, income and their need.

RESEARCH METHODOLOGY:Research methodology is considered as the nerve of the project. Without a proper well-organized research plan, it is impossible to complete the project and reach to any conclusion. The project was based on the survey plan. The main objective of survey was to collect appropriate data, which work as a base for drawing conclusion and getting result. Therefore, research methodology is the way to systematically solve the research problem. Research methodology not only talks of the methods but also logic behind the methods used in the context of a research study and it explains why a particular method has been used in the preference of the other methods.

DATA COLLECTION:My project is based on Inhouse as well as outhouse training. I am collecting my primary data from SBI LIFE office in City centre, Durgapur as well as some other places. I have visited many places of Durgapur to know the consumer view about insurance. Apart from primary data I am collecting data from different websites of companies and also taking reference of some books, articles etc. My data collection is based on observation, face to face interview, Questionnaire etc.

REPORT & SAMPLING METHOD:My research is comparative analysis of different insurance companies with special reference to SBI LIFE.I made a descriptive report based on popular and article report type. My sampling method is purposive (or judge) and convenience. I have met with many persons & took their opinions about life insurance.

SCOPE OF THE PROJECT: Organization can be able to know about its customer demand and can plan accordingly. Organization can know about the target customer by which, organization gives more emphasis to a particular customer groups. Organization can get to know what the real needs of consumers are. Organization can get to know its position in the competitive market.

Organization can be able to know about its competitors.

OBJECTIVE OF THE PROJECT: On the job training gives a practical exposure and helps in acquiring the on road skills. Our first & foremost objective is to focus the importance of life insurance products to general people. To generate the leads through survey & to make a ready customer. To find out the customer awareness about life insurance & to find out the investment patterns of the people. To win over the customer trust & believe, by giving them a clear picture for the life insurance policy.

LIMITATION OF STUDY:Although I try my best in preparation of this project, but this study has some limitation: 1. The period of the project is not sufficient to study all the factors in deep. 2. Visiting various places for the study consumed a lot of time. 3. We cannot say that what the consumer have revealed will be right for each and every situation because their perception is influenced by many factors. 4. Many consumers are less interested to provide their personal information and havent cooperated.

This training has given me a good experience in learning how to deal with the customers, how to sell a product, how satisfy an unsatisfied customer, how to generate leads, how to maintain relationship with customers. I have learnt the convincing & persuasive skills in my training. Initially I have faced some hurdles in the beginning of the project but later on I could cope with the problems. By the end of the project I have briefly described the meaning of the insurance, history of life insurance in India & also a brief introduction of SBI LIFE & its history in India Now I would like to thanks the people who helped me to complete this project .I would like to thanks my friends, my professors, and my project leader. I have paid my gratitude towards all without whose support I would not been able to complete this project.

BIBLIOGRAPHY:I have collected my secondary data from the following places: www.sbilife.co.in www.sbilife.com etc.