Table 3.

1: Customer Age Group

AGE
Below 25 25-50 Above 50 TOTAL

FREQUENCY
5 33 12 50

PERCENTAGE (%)
10 66 24 100

Chart 3.1: Customer Age Group

AGE GROUP
Below 25 10%

Above 50 24%

25-50 66%

Inference
Out of 50 respondents in the survey most of customers (66%) were in the age group of 2550 and only 5 customers are in the age group of <25

Table 3.2: Gender Respondents

FREQUENCY
MALE FEMALE TOTAL 28 22 50

PERCENTAGE (%)
56 44 100

Chart 3.2: Gender Respondents

60 40 20 0 MALE FEMALE Gender 56 22

Inference
Out of 50 respondents 44% were male and 56% were female.

Table 3.3: Educational Status of Respondents

QUALIFICATION
UP TO SSLC PDC DC and ABOVE TOTAL

FREQUENCY
25 10 15 50

PERCENTAGE (%)
50 20 30 100

Chart 3.3 Educational Status of Respondents

30 25 20 15 25 10

EDUCATIONAL STATUS

15 5 0 UP TO SSLC PDC DC and ABOVE 10

Inference
From the table it is inferred that 50% of the respondents come under the educational status of up to SSLC, 30% of DC and above, 20% of PDC.

Table 3.4: Income of Respondents

MONTHLY INCOME
Below 20000 20000-50000 Above 50000 TOTAL

FREQUENCY
12 18 20 50

PERCENTAGE (%)
24 36 40 100

Chart 3.4: Income of Respondents

MONTHLY INCOME
Above 50000 20

20000-50000

18

Below 20000

12

10

15

20

25

Inference
Out of 50 respondents in the survey most of the respondents (40%) come under the income level of Above 50000, 36% of 20000-50000 and 24% of Below 20000

Table 3.5: Occupation of Respondents

OCCUPATION
EMPLOYEE AGRICULTURE COOLIE HOUDE WIFE BUSINESS TOTAL

FREQUENCY
11 18 3 15 3 50

PERCENTAGE (%)
22 36 6 30 6 100

Chart 3.5: Occupation of Respondents

20 15 10 5 0

11

18 15 3 3

OCCUPATION

Inference
From the table it is inferred that 36% of the respondents come under the occupation of Agriculture, 30% of House wife, 22% of Employee, 6% of Coolie and 6% of Business.

Table 3.6: Inspiring factor of the customer to take LIC policy

FACTOR INSPIRING TO TAKE LIC POLICY

LIC AGENT FAMILY MEMBERS FRIENDS & RELATIVES ADVERTISEMENT OTHERS TOTAL

FREQUENCY
41 8 0 1 0 50

PERCENTAGE (%)
82 16 0 2 0 100

Chart 3.6: Inspiring factor of the customer to take LIC policy

45 40 35 30 25 20 15 10 5 0 LIC AGENT FAMILY MEMBERS 8 0 FRIENDS & RELATIVES 1 ADVERTISEMENT 0 OTHERS 41

WHICH FACTOR INSPIRING TO TAKE LIC POLICY

Inference
Table reveals that LIC agents are the main factor to inspire 82% of customers to take LIC policy, 16% of customers were inspired by Family members, 2% of customers inspired by Advertisement and no one was inspired by Friends, Relatives and others.

Table 3.7: Types policy taken by customers

TYPES OF POLICY
ENDOWEMENT MONEY BACK PENSION POLICY TOTAL

FREQUENCY
25 22 3 50

PERCENTAGE (%)
50 44 6 100

Chart 3.7: Types policy taken by customers

TYPES OF POLICY
25 20 15 10 5 0 ENDOWEMENT MONEY BACK PENSION POLICY 3 25 22

Inference
Table reveals that 50% of customers choose Endowment Policy, 44% of customers choose Money Back policy and 6% of customers choose Pension policy.

Table 3.8: Motivation for taking specific LIC policy

FACTORS OF MOTIVATION FREQUENCY

RISK COVERAGE INVESTMENT LOAN FECILITY PROFITAMILITY TOTAL 13 33 44 0 50

PERCENTAGE (%)
26 66 8 0 100

Chart 3.8: Motivation for taking specific LIC policy

FACTORS OF MOTIVATION
PROFITAMILITY 0% RISK COVERAGE 14%

LOAN FECILITY 49% INVESTMENT 37%

Inference
Table reveals that investment is the main factor of motivation for taking policy by 66% of customers, 26% of customers motivated by Risk coverage and 8% of customers motivated by Loan facility and no one was motivated by the factor Profitability.

Table 3.9: Period of policy

PERIOD OF POLICY
BELOW 15 YEARS 15-20 YEARS 20-25 YEARS ABOVE 25 YEARS TOTAL

FREQUENCY
7 17 13 13 50

PERCENTAGE (%)
14 34 26 26 100

Chart 3.9: Period of policy

ABOVE 20 YEARS

13 13 17 7
0 2 4 6 8 10 12 14 16 18

16-20 YEARS

10-15 YEARS

BELOW 10 YEARS

PERIOD OF POLICY

Inference
From the table it is inferred that 34% of respondents are selected the period of 15-20 years, 26% of customers are selected both 20-25 and above 25 years. Only 14% of customers were selected the period below 15 years.

Table 3.10: Difficulty experienced in remitting the payment

DIFFICULTIES
NO DIFFICULTY UNCERTAINITY OF INCOME TROBLE OF GOING LIC OFFICE TOTAL

FREQUENCY
38 12 0 50

PERCENTAGE (%)
76 24 0 100

Chart 3.10: Difficulty faced in remitting the payment

DIFFICULTIES 40 35 30 25 20 15 10 5 0 NO DIFFICULTY UNCERTAINITY OF INCOME TROBLE OF GOING LIC OFFICE

38 12

Inference
From the table it is clear that 76% of customers have no difficulty, 24% of customers have the problem of Uncertainty of Income and no one face the trouble of going LIC office.

Table 3.11: Source of respondents awareness

HOW DID YOU KNOW ABOUT LIC NEW SCHEEM

NEWS PAPER & MAGAZINES LIC AGENT FRIEDS AND RELATIVES TOTAL

FREQUENCY
23 22 5 50

PERCENTAGE (%)
46 44 10 100

Chart 3.11: Source of respondents awareness

SOURCE OF RESPONDENT'S AWAIRNESS

FRIEDS AND RELATIVES 10% NEWS PAPER & MAGAZINES 46% LIC AGENT 44%

Inference
From the table it is inferred that 46% of customers come to know about the policy through Newspaper & Magazines, 44& from LIC agent and 10% through Friends & Relatives.

Table 3.12: In the case of an additional income peoples like to take another policy

FREQUENCY
YES NO TOTAL 40 10 50

PERCENTAGE (%)
80 20 100

Chart 3.12: In the case of an additional income peoples like to take another policy

CUSTOMERS WILLING TO TAKE ANOTHER POLICY

NO 20% YES 80%

Inference
The table shows that 80% of customers willing to take another policy and 20% customers not ready to take another policy

Table 3.13 Opinion about the customer service of LIC

OPINION ABOUT THE CUSTOMER SERVICE

VERY GOOD GOOD POOR TOTAL

FREQUENCY
15 35 0 50

PERCENTAGE (%)
30 70 0 100

Chart 3.13: Opinion about the customer service of LIC

OPINION ABOUT THE CUSTOMER SERVICE

POOR 0%

VERY GOOD 30%

GOOD 70%

Inference
From the table it is clear that 70% of customers opine that LIC customer service is Good, 30% of Very Good and no one opine it is Poor

Table 3.14: Types of difficulties experienced in settling the claim

TYPES OF DIFFICULTIES
DELAY ILL TREETMENT FROM EMPLOYEE OFFICIAL FORMALITIES TOTAL

FREQUENCY
23 5 22 50

PERCENTAGE (%)
46 10 44 100

Chart 3.14: Types of difficulties experienced in settling the claim

TYPES OF DIFFICULTIES
25

20

15 23 10 22

5 5 0 DELAY ILL TREETMENT OF EMPLOYEE OFFICIAL FORMALITIES

Inference
From the analysis it is inferred that 46% of respondents faced Delay, 44% of customers faced Official formalities and 10% of respondents faced Ill treatment from employee.

Table 3.15: Loan taken from LIC

WIIL YOU TAKE LOAN FROM LIC

YES NO TOTAL

FREQUENCY
5 45 50

PERCENTAGE (%)
10 90 100

Chart 3.15: Loan taken from LIC

WILL YOU TAKE LOAN FROMLIC

YES 10%

NO 90%

Inference
Table reveals that 90% of customers did not take loan and 10% of respondents take loan

Table 3.16: Customers opinion about the general working of LIC

OPINION ABOUT THE GENARAL WORKING OF LIC

GOOD SATISFACTORY POOR TOTAL

FREQUENCY

PERCENTAGE (%)

28 22 0 50

56 44 0 100

Chart 3.16: Customers opinion about the general working of LIC

30 25 20 15 10 5 0 GOOD SATISFACTORY POOR

28
22 0

OPINION ABOUT THE GENARAL WORKING OF LIC Inference

From the analysis it is inferred that 56% of respondents expressed that the general working of LIC is Good, 44% opine that the general working of LIC is Satisfactory and no one opine it is Poor.

Data Analyses and Interpretation

This chapter is to analyse the data collected from 50 policyholders. The study mainly aims at awareness of LIC policies and services among policyholders.