Changes

We first studied the basics of Life Insurance through secondary resources like related websites on the internet, journals etc. as to understand what is life insurance, why people should go for it, various types of life insurance and hoe how segmentation is done in the Life Insurance industry. We covered the Term Life Insurance in detailed detaile because people more than over 60 years of age, which was our focus area in this study, generally opt for this insurance.<br>

We determined the premium charged by the following life insurance companies using online premium calculatorcalculators:

:* For Men men height and weight are taken as assigned were 5’8’’ and 176 lbs respectively while for Women women height and weight are taken as assigned were 5’4’’ and 162 lbs respectively. :* Date of Birth is was taken as march 33rd March, 1949 (more than 60 yrs), coverage amount as $250,000, the guaranteed term as 15 years and state as California both for male and female. :* Premiums were calculated considering different various health conditions for Blood Pressureas blood pressure, Cholesterolcholesterol, Cardiac problem cardiac problems or Cancer cancer in the family, Medical medical advice or treatment for major illness etc. <br>

Finally we analyze analyzed the companies ' response to different health conditions on the basis of the variation in the premium amount. From this we also determined the key health parameters which have major impact on the premium that the companies are charging the individualscharged.