Select Currency
Translate this page


Format: MS WORD  |  Chapter: 1-5  |  Pages: 53  |  2696 Users found this project useful  |  Price NGN5,000





In Nigeria the issue of taking life assurance policy has been neglected in the sense that at this presence time, it is estimated that not up to two percent (2%) of Nigerians own life assurance policies due to poor education and inappropriate marketing strategies for this fact, the benefits and role life assurance plays in this country is being viewed from a very crooked point thereby making it slightly visible.This study therefore focuses on marketing of life assurance policies in Nigeria. The population of the study comprises both staff and customers of Leadway Assurance Plc Enugu. A sample size of fifty (50) was selected made up of 20 staff and 30 customers. Both primary and secondary data were collected. Questionnaire coupled with personal interviews were the main research instrument. The data was analyzed by the use of chi-square statistical method.The study came out that insurance companies in Enugu state (Leadway Assurance) exercise their marketing functions and strategy mainly through advertising and sales promotions as a guide to customer profit motive and competitive tool. It was recommended that insurance companies should endeavor to establish a monthly publication. Such publication will serve as strong public relations machineries in promoting the image of insurance industry.



1.1    Background of the Study

In Nigeria, the issue of taking life assurance policy has been neglected, in the sense that at this presence time, it is estimated that not up to two percent (2%) of Nigerians own life assurance policies. For this fact, the benefits and roles life assurance plays in this country is being viewed from a very crooked point thereby making it slightly visible.

        Moreover, the life assurance industry has entered on era of accelerated change as a result of increased competition in the products and pricing within all the insurance sectors. Hence professional marketing management is now a prerequisite, if a company is to return or advance its position in the competitive hierarchy they must follow suit.    

However, before choosing the kind of cover to take, the intending assured should first of all sit down and analyzed his need. Life assurance has been said to be for those who live too long and those who die too soon. The needs of people in both these categories can be met.  Most salary earners and wage earners have other people depending on them, it could be parents, a wife, children or even brothers and sister. In life assurance programs, funds are accumulated  through payments made by the assured person called premium so that, should death occur, prior to a specified date or upon survival at an agreed period funds would be made available from the scheme to pay whatever benefits that are due.

        The idea of assistance and association is not new to the Nigerian society. Various town and clan unions and social dubs, have various ways of showing benevolence to their bereaved members as discussed earlier. It is customary for people to pay condolence visit and present a sympathy purse. These practices are similar to mutual life assurance.

        However, life assurance as practiced today is part of the nation’s colonial heritage. Obviously, the British introduced life assurance into Nigeria, hence the practice closely follows, the British pattern.      The earliest colonial insurance interest in Nigeria was directed to the general insurance of goods and cargo.

Few life businesses which tricked in were referred to British Home Officers in London for processing. Only the affluent could afford it then because it was considered as enormous risk to insure person living in the tropics and the cost of providing such life cover was very expensive and uneconomical.

With independent in 1960, life assurance started to change. Lead way Assurance Company was incorporated between Nigerians and expatriates. It therefore became the life specialist’s underwriter. Within the same period, the Nigerian life and pension consultants together with the Nigeria universities management consultant indicated the development of group life and pensions scheme in Nigeria. Before 1960, many Nigerians shunned the idea of effecting life assurance cover. They felt generally that the insurance agents were wishing them bad-luck, premature death and therefore would never have anything to do with the insurance and their agents.

1.2         Statement of the Problem

a)   Lack of statistics which result to problem in payment of benefits.

b)   Inability by insurance marketer to design policies which will meet the current change in the society.

c)   The effect of insurance image in Nigeria due to tribalism, religions strife etc.

d)   The low demand for life assurance policy which could be attributed to lack or poor education and inappropriate marketing strategies.

All have contributed to the problem which tends to impede development of life assurance in the Nigeria society.

1.3    Objective of the Study

        Having been exposed to the problems, we have to look into what the researcher intend to achieve which is as follows;

a)   To provide a new statistical method that will enhance payment of benefit

b)   To identify those policies that suits the current demand in the society

c)   To promote insurance image and enhance inhabitance co-existence in the society

d)   To provide a strategic method in marketing life assurance polices and promotes public awareness.

1.4    Research Questions

1.   Are there any method used in valuing payment of benefit?

2.   Does the organization carry out marketing research to know the current trends of an event in the society?

3.   Does socio-cultural beliefs of the society affect the operation of life assurance policy?

4.   Does lack of public awareness hinder the activities of life assurance?

1.5    Research Hypothesis

Ho:  Insurance companies have no strategic method in

marketing life assurance policy.

H1:  insurance companies have strategic method in

marketing life assurance policy.

1.6    Significance of Study

        The study of the problems facing marketing of life assurance companies is significant in many ways, especially to the insurers, the life assurance intermediary and the insuring public.

        Hence at the end of this study, the insurers and the life assurance intermediaries will be able to identify the problem militating against the effective marketing of life policy in the society. The study is also meant to highlight the need for adequate sales promotion methods, advertising principles and understanding of the life assurance policy.

        Finally, it points out the need for marketers in the life assurance industry to appreciate the concepts, strategies and application of marketing as a spring board for growth and also the need for them to work with the actuaries of the life policies to specific target markets.



Not The Topic You Are Looking For?

For Quick Help Chat with Us Now!

+234 814 010 7220

+233 55 397 8005


  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 814 010 7220 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Peace From Unilag
I cried not knowing how to go about my project but the day i searched online and saw iprojectmaster, i called and got my full project in less than 15minutes, i was shocked!
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Merry From BSU
I am now a graduate because of, God Bless you guys for me.
Abdulrazak Bello Marsha
Usman Dan fodio University
It was quite a better guide for project and paper presentation purpoting. Many thanks.
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Uduak From Uniuyo
IProjectMaster is the best project site for students. Their works are unique and free of plagiarism!
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...


How do I get this complete project on MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for MARKETING OF LIFE ASSURANCE POLICIES IN NIGERIA, What do i do?

Chat with Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 814 010 7220

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!