Attitude of Uninsured towards Life Insurance (A Study in East Godavari District, Andhra Pradesh)
Life Insurance is intangible in its nature hence majority of the Indian population cannot understand its meaning. After history of more than two hundred years of life insurance sector history in India it is still under penetrated with 27 to 27 percent. Almost all the insurers knows that it is not bought and it has to be sold, even still there are lot of misconceptions in the minds of Indians towards the concept of insurance hence it caused complications in marketing its products. In reality making the uneducated, rural and economically backward people to understand the insurance concept is a challenging task. Insurers may succeed if they know the attitude of uninsured and develop separate strategies for them. Marketing activities of life insurance companies is all about to inform, bringing awareness, develop belief, to form positive attitude, to reinforce trust etc. in the minds of the consumers by using tools such as advertising, public relations, displays, word of mouth, sales promotion, personal selling etc. Insurers may form positive attitude or may cause negative attitude so knowing the feelings of respondents found essential. Today customers are more informed with number of options; even still majority of the population in India is still uninsured or in some cases trusts only LIC. Therefore it is the duty of all insurers is to study the attitudes of people towards life insurance to reinforce trust and to change the attitude in the customers.
