A Study on Factors Influencing Decision of Customers Purchasing Life Insurance Product with reference to Age Group in Gujarat Region (Chi-Square Analysis Approach)
Published: 2022
Author(s) Name: Kalpeshkumar B. Prajapati and Jaideepsingh H. Jetawat |
Author(s) Affiliation: Assistant Professor in Management Area.
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Abstract
Indian insurance industry growth rate of 14.47% (IBEF Report) this sector plays
a vital role for Indian GDP. This study identified various factors based on
cultural, social, personal, psychological parameters. The aim of the study was to
identify factors influencing the purchase decision of customer purchasing life
insurance product with reference to age group in the Gujarat region. Researchers
identified various dependent and independent variables from the Chi-square
Analysis Approach. The result was derived from hypothesis testing with respect
to age and purchasing decision of life insurance products. Total 30 factors have
been identified in this empirical study.
Keywords: Age, Factors, Buying decision, Insurance product
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