Effectiveness of product related strategies of public and private life insurance players with reference to Perambalur district

Success of insurers in present scenario is largely depends on their ability to design innovative products and adopt an effective multi distribution channels. In this context, public insurer with strategic emphasis on traditional products and private insurer with strategic emphasis on ULIP products make industry competition unique. This article is about analyzing effectiveness of product related strategies of public and private life insurance players with reference to perambalur district, by investigating various attributes of products. Researcher employs descriptive research design. 140 samples are collected through simple random sampling method and analyzed with the help of t-test and two way Anova. In product attributes except for loan facility, there is significance difference between public and private life insurance companies in product attributes like; liquidity, Bonus, Maturity benefit, Death benefit, surrender value, safety and risk cover. In majority of case, public life insurance's product attributes is doing better than that of private life insurance.