INTRODUCTION

Insurance may be described as a social device to reduce or eliminate risk of

life and property. Under the plan of insurance, a large number of people associate
themselves by sharing risk attached to individual. The risks which can be insured
against include fire, the peril of sea, death, incident, & burglary. Any risk contingent
upon these may be insured against at a premium commensurate with the risk
involved.
“Insurance is a contract between 2 parties whereby one party called insurer
undertakes in exchange for a fixed sum called premium to pay the other party
happening of a certain event.”

OBJECTIVES

To know the customer awareness towards LIC product.

To find out customer preference towards investment alternatives of LIC.

To find out which investment will be beneficial for customer.

IMPORTANT

Insurance benefits society by allowing individuals to share the risks faced by

many people. But it also serves many other important economic and societal
functions. Because insurance is available and affordable, banks can make loans
with the assurance that the loan’s collateral (property that can be taken as payment
if a loan goes unpaid) is covered against damage. This increased availability of
credit helps people buy homes and cars. Insurance also provides the capital that
communities need to quickly rebuild and recover economically from natural
disasters, such as tornadoes or hurricanes.
RESEARCH METHODOLOGY:-

Research methodology is the systematically study the research problem. In it, we

study the various steps which are generally adopted by a researcher in studying the
research problem. The data shall be collected from the organization under study from
primary as well as secondary sources.

Primary sources-

The primary data for the purposes of the study shall be collected through sample method
by adopting random sampling technique. The primary data will be collected through
interviews method, observation method, schedules & questionnaire in this study; the
questionnaire method of data collection is best suited due to its application in collecting
data at large scale.

Secondary sources –

The secondary data will be collected from various published and unpublished sources
namely:

● Annual reports of public sector banks

● Libraries of different universities
● Different books
● Internet
● Newspaper
TYPES OF RESEARCH

1 sampling:-
Sample is the small group taken under consideration from the total
group. This small group represents the total group.
The particulars of sample design,
I. Type of Universe: Finite
II. Sampling unit: Navi Mumbai
III. Source list: SBI employees
Size of sample: 100