Abstract

The marketing of insurance products mainly revolves around its agents or brokers; the purpose of a business organization is to create value and deliver it to the satisfaction of its customers through them. When the customers purchase 'products' they are only buying or purchasing benefits and values from the offering made by a company. Life insurance as a service industry, offers various sets of value satisfactions in their products. It is the only company which commands reliance among its customers or buyers. Despite the facts the players in the private sectors registered with IRDA. In insurance risks are covered and systematic savings are the core services combined to meet the insurance needs of the customer. Insurance companies differentiate their products by adding auxiliary benefits and attributes to these core services, and marketing them. While buying an Endowment Policy from an insurance company, the proposer gets not a mere legal contract assuring a sum as it is common under the said type of policy but also other attributes accompanying the policy like easy facility for payment of premiums, timely reminders, quick withdrawals and loans, hassle free settlement of claims and a range of customer services which differentiate it from the similar endowment policies offered by other companies. The insurance buyer gets more value added facilities when sold by a professional and service minded agent, and the buyer perceives it as a better product compared to the same plan from the same company sold through another agent.