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Determinants of Life Insurance Consumption in India (Area to be Determined Till Now)

Author

Listed:
  • Sonia Chawala

    (Lecturer, School of Management & Social Sciences, Thapar Institute of Technology, Patiala)

  • Fulbag Singh

    (Professor, Department of Business Management, Guru Nanak Dev University, Amritsar)

Abstract

Innumerable economic, demographic, socio cultural, political and other factors determine each economy’s consumption of life insurance. The Economic Environment consisting of foreign investment climate, price, inflation and interest rates income, saving and investment parameters may increase or decrease the overall demand of insurance. Similarly demographic environment consisting of education level, household structure, industrialization and urbanization, social environment, political environment of the nation also has a profound impact on the insurance consumption. In the present paper an attempt has been made to assess the impact on life insurance consumption in the light of trend of these factors. Indian insurance industry has good regulatory environment, political stability, changing demographic profile, good economic conditions in its favour.

Suggested Citation

  • Sonia Chawala & Fulbag Singh, 2007. "Determinants of Life Insurance Consumption in India (Area to be Determined Till Now)," Journal of Commerce and Trade, Society for Advanced Management Studies, vol. 2(1), pages 52-59, April.
    • Handle: RePEc:jct:journl:v:2:y:2007:i:1:p:52-59
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    File URL: http://www.jctindia.org/april2007/v2i1-9
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    More about this item

    Keywords

    stress; employee attraction; pressure; turnover; retention strategies;
    All these keywords.

    JEL classification:

    • A0 - General Economics and Teaching - - General
    • C0 - Mathematical and Quantitative Methods - - General

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