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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.



1.1 Background of the study

In Nigeria the issue of taking life assurance policy has been neglected, in the sense that at this present time, it is estimated that not up to two percent (2%)  of Nigerian’s own life assurance policies, from the research made on the internet, life assurance business is more operated and recognized in other countries such as UK, USA, Canada, Germany and other European countries, in Africa  life assurance business is more recognized in South Africa for this fact, the benefits and roles life assurance plays in this country is being viewed from a very cooked point there by making it slightly visible moreover, the life assurance industry has  entered on era of accelerated change as a result of increased competition, such as other life institution e.g. National Health Insurance Sector (NHIS). Hence professional marketing management is now a pre-requisite, if a company is to return or advance its position in the competition hierarchy.

Based on the investigations made on net, the major contention of this or the major aim of writing this is to pinpoint some of the challenges affecting life assurance industries in Nigeria.

1.2 Statement of problem

a.  Previous studies have shown that sub-standard policies which was designed by the underwriters could not meet the current change in the society towards satisfying individual’s needs.

b.  High rate of poverty in the country that results to no interest or concern by the individuals to effect life assurance policy.

c.   The low demand for life assurance policies which could be as a result of in appropriate marketing strategies.

d.  The high rate of illiteracy which affects the easy or free flow of life assurance business in Nigeria.


Based on the above general objective, the following are specific objectives of the study:

1.          To determine how poverty affects customer’s purchase oflife assurance.

2.          To know the relationship between life assurance buying intentionand other variables.

3.          To know the effect of customer’s perceptions on the demands of life assurance


1.           How does poverty determine the purchase of life assurance policies?

2.           What is the relationship between life assurance buying intentionand other variables?

3.           What is the effect of customer’s perceptions on the demands of life assurance?


The main reason for this study is that the researchers have not paid enough attention to this subject in the insurance sector. Therefore, this study is expected to provide empirical evidence on the determinant of life assurance buying behavior. Thatmany parties like management, regulators, investors, customers and privet insurance companies will be benefited from theresults.

Management: by identifying the determinants of life assurance buying behavior, the management of Nigerian Insurance Corporation will take the necessary actions to improve the performance of their company and choose the right decisions.

Regulators: National bank of Nigeria will be interested in knowing whether the life assurance market is grows or not to take the necessary measures to support for grousing.

Investors: Investors interested in such studies in order to protect their investment, and directing it to the best investment.

Customers: Customers interested in knowing the ability of Nigerian Insurance Corporation to pay their obligations based on the indicators of the life assurance benefit. Moreover, the researcher also contributes that this study can potentially serve as a stepping stone for further research in the area.


Attitude: is a lasting, general evaluation of people (including oneself), objects, advertisements, or issues. An attitude is a lasting because it intends to endure over time. It’s general because it applies to more than a momentary event, such as hearing a loud noise, though you might overtime, develop negative attitude towards all loud noises (Solomon 2009 p256).

Perception: is the process by which people select, organize and interpret these sensations as light, color, sound, odor and texture through the sensory organs. The study of perception then focuses on what we add to these raw sensations in order to give them meaning (Solomon 2009 p52).

Price: is the amount of money one must pay to obtain the right to use the product or service (Hawkins and David, 2010 p21).

Income: the amount of money received over a period of time either as payment for work, goods, or services, or as profit on capital (Microsoft Encarta, 2009).

Culture: Culture is a society’s personality. It includes both abstract ideas, such as values and ethics, and material objects and services, such as the automobiles, clothing, food, art and sports that a society produces and values. Put in another way, culture is the accumulation of shared meanings, rituals, norms, and traditions among the members of an organization or society (Solomon 2009p578).

1.7                                          SCOPE OF THESTUDY

The study has not gone up to addressing all types of products and services of the Nigerian insurance corporation due to time and financial constraints rather the study is merely addressing the effect of customer’s perception on the demand of insurance policy, using Insurance companies in Enugu state as case study. It would have also been very useful, if it included of all types of business on insurance buying behavior. However, due to the constraints of cost, time and other resources, the researcher was forced to limit the study only on those selecting customers ‘of EICdeterminants of life assurance buyingbehavior.

1.8                                          LIMITATION OF THESTUDY

One of the limitations of this research is small number of insurance data set. The life assurance data prior to 1983 were not available; the question of whether the results suffer from small sample bias may arise. Another main problem in this study has been inconsistent of data from different institutions, Lack of previously conducted studies on similar topic and accessibility of sufficient current literature on the subject of life assurance in the Nigerian context makes this study difficult.Originally the researcher has planned to use multiple regression models to know the determinants of life assurance buying behavior of customers. However, the model is found to be unfit for the fact that the F test isinsignificant.

1.9                                          ORGANIZATION OF THEPAPER

The general report of the study has five chapters. Chapter One contains background of the study, statement of the problem, research questions, objectives of the study, significance of the study, and Scope of the study. Chapter two deals with review of the relevant literature to support the study‘s theoretical foundation empirical and review. Chapter three states method of the research designdata collection and interpretation andanalysis. Chapter four describes the results/findings of the study, and interprets and discusses the Findings chapter five presents the conclusions and recommendations based on the findings of the study.

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