A Study on the Preference of Policyholders towards LIC Policies in Kerala-An Application of Kendall's Coefficient Of Concordance

The attitude and preference of policyholders towards purchase of life insurance products are influenced by multiple factors as the nature and regularity of income, future needs, knowledge on its features and benefits etc. As agents are having better personal relationship with community of policyholders, it will be worthwhile to analyse the perception of agents on the preference of policyholders towards holding life insurance products so that product designs can be matched with needs and requirements of specific market segment. The analysis shows that as per the experience of agents, majority of policyholders prefer either endowment or money back policies in the life insurance product mix of LIC.