MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA PROBLEMS AND PROSPECTS

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MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA PROBLEMS AND PROSPECTS

ABSTRACT

This research work, the researcher examined the problems and prospects of marketing of life assurance policies in Nigeria. The information for the study was collected using primary and secondary methods of data collection. For the primary data collection, questionnaire was used while existing literature relevant to the topic was consulted for the secondary data. The sample size was determined using Taro Yamani formula the percentage method was used for data analysis while Chi-square statistical mode was used to test the formulated hypothesis. The researcher found out that Life assurance companies in Enugu specializes in life assurance business but they are experiencing inadequate patronage. Life assurance companies use brokers, agents and partially employed salesmen in marketing of life assurance policy to the insuring public. Based on the findings the researcher recommended that Government should establish insurance educational centers which should organize lectures, seminars, educational conferences and study programmes for the good of the public.

TABLE OF CONTENTS

Title page                                                                                       ii

Approval Page                                                                        iii

Dedication                                                                              iv

Acknowledgement                                                                 v

Abstract                                                                                 vii

CHAPTER ONE

INTRODUCTION

1.1      Background of the Study                                               1

1.2      Statement of the Problem                                              4

1.3      Objective of the Study                                                    5

1.4      Research Questions                                                       6

1.5      Research Hypothesis                                                      7

1.6      Significance of the Study                                                7

1.7      Scope and Limitations of the Study                               8

1.8      Definition of Operational Terms                                     9

CHAPTER TWO

REVIEW OF RELATED LITERATURES

2.1      An Overview                                                                   11

2.2 Historical Development of the Case Study                      17

2.3 Historical Development of Life Assurance in Nigeria      19

2.4 How Individual Life Assurance Are Transacted               20

2.5 Special Characteristics of Marketing Life Assurance      23

2.6   The Impact of Life Assurance Policies on the Society    27

2.7 Marketing Strategies of Life Assurance Polices               30

2.8 Problems Facing Marketing of Life Assurance Policies    34

2.9   Prospect of Adequate Management                               35

References                                                                     36

CHAPTER THREE

RESEARCH METHODOLOGY AND DESIGN

3.1      An Overview                                                                   37

3.2      Source of Data                                                               37

3.2.1        Primary data                                                              38

3.2.2        Secondary data                                                          39

3.3      Population of the Study                                                 41

3.4      Sample size and Sampling Techniques                          41

3.5      Validity and Reliability of the Instrument used            42

3.6      Method of data Presentation and Analysis                    43

CHAPTER FOUR

DATA PRESENTATION ANALYSIS, DISCUSSION OF FINDING

4.1      An overview                                                                    46

4.2      Data presentation                                                         46

4.3      Data Analysis                                                                49

4.4      Testing of Hypothesis                                                    60

4.5      Discussion of Findings                                                   65

CHAPTER FOUR

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS.

5.1      Summary of Findings                                                    66

5.2      Conclusions                                                                   68

5.3      Recommendations                                                         69

5.4      Suggestions for Further Studies                                    74

Bibliography                                                                                 75

Appendixes                                                                                 76

Sample questionnaire                                                            77

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MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA PROBLEMS AND PROSPECTS

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