LIFE INSURANCE SECTOR: INDIA’S INSURANCE HOPES(Pages 159-170) by myuser in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)

The very concentrate of recent marketing is the identification and satisfaction of the requirements of the "buyer" as Adam smith wrote: 'Consumption is the sole end and purpose of all production and the interests of the producer ought to be attended to, only so far as it may be necessary for promoting that of the Consumer'. (Adam Smith 1776)'. Financial product marketers need to manage their product portfolio in response to the changing environment behavior and consumer wants, in addition to managing customer relationships effectively for achieving long-term profitability and relationship. Life insurance is the backbone in managing the risk of the country. The life insurance providers offer diversity of products to business, providing protection from risk thereby ensuring financial security. It helps Human and organization to minimize the consequences of risk which impart significant cause on the growth and development of life insurance industry. Indian life insurance industry is facing major challenges in reaching out willing customers, providing them services, acquiring and retaining players, product and distribution innovation etc.
Keywords: Life insurance, Financial product marketers, environment behavior, customer relationships, financial security etc.