UGC-NET/JRF Research Scholar,
After independence various life insurance companies were nationalized and merged into single company. In the special act of parliament in 1956 all insurance company was formed. Due to changing economic policies and under the influence of world economic policies IRDA was created in 2000 for governing body of all insurance companies (public and private) in the India. Life insurance Corporation of India (LIC) is the India's largest Insurance organization. In other word Life Insurance Corporation (LIC) has monopoly of all Life Insurance Company those who are running present time in India. LIC has a good faith in market against to private insurance company. The people are join the LIC as a policy holder they are full of confidence and assure that “LIC jindagi ke saath bhi aur jindgi ke baad bhi”. Day to day LIC becomes a loyal corporation in Indian context. In the case of Maturity Benefit, Varity of the plan according to consumer needs, and Death Claims; Consumer satisfaction is the main objective of LIC and achieves consumer loyalty. If the customers of Life Insurance Corporation are satisfied and happy, in this situation they become loyal to the LIC. In this research paper the main focus on consumer satisfaction in reference to Life Insurance Corporation of India.
IRDA, LIC, Consumer Satisfaction, Consumer Loyalty, Insurance and Policy
