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Life Insurance can be termed as an agreement between the
policy owner and the insurer, where the insurer for a
consideration agrees to pay a sum of money upon the
occurrence of the insured individual's or individuals' death or
other event, such as terminal illness, critical illness or maturity
of the policy.
ORIGIN OF LIFE INSURANCE
Bombay Mutual Assurance Society, the first Indian life assurance
society, was formed in 1870.
Other companies like Oriental, Bharat and Empire of India were
also set up in the 1870-90s.
By the mid-1950s, there were around 170 insurance companies
and 80 provident fund societies in the country's life insurance
scene.
The government decided to nationalize the life assurance business
in India. The Life Insurance Corporation of India was set up in
1956 to take over around 250 life insurance companies.
The Insurance Regulatory & Development Authority, an
autonomous insurance regulator set up in 2000, has extensive
powers to oversee the insurance business and regulate in a manner
that will safeguard the interests of the insured.
NEED OF LIFE INSURANCE
NEED
Protection
Tax
Relief
Money
when you
need it
Liquidity
WORKING OF LIFE INSURANCE
AVOID
REDUCE
TRANSFER
Insurance deals with transfer of risk from the consumer to the
provider. Insurance works on a fundamental principle of pooling of
risk
THE LIFE INSURANCE MIX
Product Mix.
Process Mix.
Place Mix.
Price Mix.
Promotion Mix.
People Mix.
Physical Evidence
LIFE INSURANCE MARKETING
TRIANGLE
Marketing
Triangle
COMPANY
Internal
Marketing
SERVICE PROVIDER
External
Marketing
CONSUMERS
LIFE INSURANCE – FLOWER OF
SERVICE
Core
Payment
information
Consultation
Order
Taking
Hospitality
Exception
Safe
Keeping
Billing
4 – I‘S OF LIFE INSURANCE
Service
Intangibility
Inconsistency
Inventory
Inseparability
CONCLUSION
It can be concluded that life
insurance is the necessary and
considerable factor for any
person for covering the risk of
life and for future security.

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life insurance marketing

  • 1.
  • 2. Life Insurance can be termed as an agreement between the policy owner and the insurer, where the insurer for a consideration agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness, critical illness or maturity of the policy.
  • 3. ORIGIN OF LIFE INSURANCE Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s. By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the country's life insurance scene. The government decided to nationalize the life assurance business in India. The Life Insurance Corporation of India was set up in 1956 to take over around 250 life insurance companies. The Insurance Regulatory & Development Authority, an autonomous insurance regulator set up in 2000, has extensive powers to oversee the insurance business and regulate in a manner that will safeguard the interests of the insured.
  • 4. NEED OF LIFE INSURANCE NEED Protection Tax Relief Money when you need it Liquidity
  • 5. WORKING OF LIFE INSURANCE AVOID REDUCE TRANSFER Insurance deals with transfer of risk from the consumer to the provider. Insurance works on a fundamental principle of pooling of risk
  • 6. THE LIFE INSURANCE MIX Product Mix. Process Mix. Place Mix. Price Mix. Promotion Mix. People Mix. Physical Evidence
  • 8. LIFE INSURANCE – FLOWER OF SERVICE Core Payment information Consultation Order Taking Hospitality Exception Safe Keeping Billing
  • 9. 4 – I‘S OF LIFE INSURANCE Service Intangibility Inconsistency Inventory Inseparability
  • 10. CONCLUSION It can be concluded that life insurance is the necessary and considerable factor for any person for covering the risk of life and for future security.