AN EMPIRICAL STUDY ON THE FACTORS THAT DRIVES THE RURAL CUSTOMERS TO PURCHASE LIFE INSURANCE PRODUCTS FROM LIFE INSURANCE CORPORATION OF INDIA

This empirical study investigates the factors that drive rural customers to purchase life insurance products from the Life Insurance Corporation of India (LIC). Despite the increasing awareness of the importance of life insurance, rural penetration remains low, necessitating a deeper understanding of the unique motivations and challenges faced by rural consumers. Through a quantitative approach, the study collects data from a sample of rural respondents using structured questionnaires. Key factors examined include demographic influences, economic conditions, social norms, and the impact of marketing strategies employed by LIC. The findings aim to provide valuable insights for LIC to enhance its outreach and product offerings in rural markets, ultimately contributing to greater financial inclusion and security among rural populations.