Whether Taxation is Selling Tool for Insurance

Abstract

The motive behind the project is to gain a sense about how the insurance company’s function. India being one of the largest markets of insurance still has a very low penetration rate therefore the growth aspect is huge and growing level of awareness amongst people is helping the industry which can be seen by the growing penetration rate year-on-year. Needless to say, the premium being collected by the industry along with policies that are being sold are also increasing at a similar pace. Most of the general population still lacks the understanding on about how their money is being invested and whether their money is safe or not. The projected assigned by Bridge Group Solution was to identify whether tax is a selling tool for insurance or not. In this project, study about consumer behaviour regarding consideration of various factors and forces were considered which helps a customer to make a decision in regard to buy a insurance policy or not. Such various factors financial stability, price, tax benefits, health conditions, global conditions, etc. In order to completed the project different methods such as questionnaire, telephonic calls, emails, etc. were used to have an detailed study on the topic and understand consumer behaviour.