Status Analysis of Life Insurance Companies in Serving the Society with Special Reference to Guwahati Assam
Keywords:
Life Insurance, social security, customer satisfaction, performance, social cost benefit of life insuranceAbstract
Insurance is very important for modern age. Every human being for his survival needs food, clothing and shelter. These are known as basic or essential human wants without which our existence is meaningless. In present day, life is very complex and our needs are no longer restricted to physiological needs alone. Man, his family and their belongings and properties are always exposed to a variety of risks. The answer to these problem lies with the insurance. Insurance is useful to the society.
Life Insurance Companies in public or private sector have the social role in extending social benefit concomitant with their business viability. The aim of the paper will be addressed to the objectives to examine the status of private life insurance companies viz-a-viz public one in the service of the society besides focusing on the main concern of people while taking up a Insurance policy. It is also to analyze the performance and viability of the companies as well as feasibility level of customer satisfaction in the light of social cost-benefit.
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