RESEARCH METHODOLOGY

Research is a procedure of logical and systematic of the fundamentals of science to the general and overall questions of a study and scientific technique, which provide precise tools, specific procedure, and technical rather than philosophical means for getting and ordering the data prior to their logical analysis and manipulation. Different type of research designs is available dependent upon the nature of research project, availability of able manpower and circumstances.

STATEMENT OF THE PROBLEM

The people are aware of this uncertainty about what the future holds for them and therefore they show a strong desire for security both for their lives and their possessions. The desire for security is sought to be satisfied by taking all the precautions possible to avoid the consequences of Risk. Inspite of all precautions, accidents do occur. Inspite of No smoking rule a worker may carelessly through a lighted cigarette and which may cause a fire in a godown. A motor cyclist may drive very carefully and yet may be knocked down by another vehicle whose driver loses control. The earthquakes, floods and cyclones occur frequently causing loss of lives and damage to property. Inspite of advances in aviation technology air crashes occur. The titanic a ship which was built to be an unsinkable ship sank on her very first voyage. Annual losses to individuals from untimely death accidents, sickness and unemployment, or to property from fire, windstorms, sea perils, earthquakes, floods dishonesty negligence etc; when estimated in monetary terms would amount to a big figure and indicates the importance of recognizing and meeting intelligently such risks.

This study has been undertaken to know the products of Life Insurance Corporation of India. To know whether people aware about all the life insurance products or not.

OBJECTIVE OF THE STUDY

To know the public opinion about life insurance products.

To know satisfaction level of the customers from the service provided by the insurance companies.

To know weather people are aware about children insurance plan.

To study the awareness among the people regarding the Life Insurance Corporation of India.

To check how people are benefited with the computerization of Life Insurance Corporation of India.

To know about insurance people are availing the modern services provided by Life Insurance Corporation.

To check weather Life Insurance Product fulfill family requirement or old age problem.

RESEARCH DESIGN

The research design is the blueprint for the fulfillment of objectives and answering questions. It is a master plan specifying the method and procedures for collecting and analyzing needed information or the other way it can be said that research design is the conceptual structure within which the research is conducted. Its function is to provide for the collection of relevant evidence with minimum expenditure of effort, time and money but how this can be achieved depends upon the research purpose.

The designs of a research include the following five:

1. Collection of data

2. Organization of data

3. Presentation of data

4. Analysis of data

5. Interpretation of data

1.Collection of data:

Data collection is in fact the most important aspect of any survey. The term data means quantitative data. The information capable of numerical expression is only including. Qualitative aspect can only be studied when expressed numerically.

2.Organization of data:

After the data has been collected, the next step is to organize the data in some orderly and logical form so that their essential features may become explicit. Organization is the process or arranging things in group according to their resemblances and affinities.

3.Presentation of data:

After organization of data, next step is to present the data in such clear and attractive manner so that these are easily understood and conclusions are drawn thereof. Following are the main methods of presentation of data:

Tables

Diagrams

Graphs

4.Analysis of data:

The fourth step after presentation of data is the analysis of data as a large number of big figures are confusing in mind. To draw conclusions it is very much necessary to analyze the data. In order to reduce the complexity of data and to make them compared, it is essential that the various figures, which are being compared, be reduce to one single figure each.

5.Interpretation of data:

Under this method, conclusions are drawn after analyzing the data. Two or more kinds of data are compared and conclusions drawn. Even a layman may understand them. The conclusions are expressed in simple and easy language. On the basis of such conclusions future estimates and suggestions are made.

DATA USED

The data includes primary and secondary data.

Primary data

Primary data has been collected directly from sample respondents through questionnaire and with the help interview from the respondents who belong to various sectors of the society. The respondents, customers of business man, include service class people, dependents, and lecturers.

Secondary data

Besides the primary data help from the secondary data has also been taken in the study. The information regarding industry has been derived from book, magazines, internet etc.

SCOPE OF THE STUDY:

The study regarding the life insurance corporation has been carried out in district Yamuna Nagar (Haryana). The data has been collected from 50 respondents with the help of questionnaire. The answer given by the respondents have leaded to carry forward this study.

SIGNIFICANCE OF THE STUDY:

By this we come to know the awareness level of the public towards the Life Insurance Corporation Products of Life Insurance Corporation of India.

With this study suggestions can be made to improve the modern service provided by the Life Insurance Corporation of India.

Respondents of public towards in life insurance sector can be known.

LIMITATIONS OF THE STUDY:

The study cannot be carried out in wider coverage of area.

The illiterates cannot take part in the study, as the instrument used for research is questionnaire.

The result of the study are based on the responses of small number of respondents i.e. 50 only

The responses of the respondents can never be cent percent reliable.

Respondents of metropolitan and rural areas are not included due to the limiting factor i.e. Time.