Insurance is the best form of fortification against risk that has been formulated by man. Since its emergence, insurance has become unavoidable to every aspect of human life from health disorders to building properties, from household articles to multimillion-dollar projects. The list is infinite. A mission statement aims to capture the values and beliefs of service organizations and provides guidelines to the way it should interact with its identified customer markets and other influenced markets. Almost every person, these days has a very short-term perspective on life and mostly depend on something that will satisfy their immediate needs. It is in this context that insurance is considered to be a social device to meet uncertain losses, when the need arises. In general, it is clear that an insurance organization bears the responsibility of offering world-class services to the ultimate users, which needs innovative marketing practices. Success occurs when opportunity meets preparation. Although there are big opportunities in the insurance sector in India, the success rate depends on the effective distribution system. Traditionally, the agency sales force is a predominant method of distribution that requires personal interaction and guidance, since selling insurance is a complicated process with the sales force as the key distribution channel. It is apt to mention that the business of insurance is based on the skill and excellence of agents and this builds a strong advocacy in favor of personal selling. Hence, the role of agents and development officers is not restricted to just effecting services or sale contract for the customers on behalf of insurance companies: It is beyond that—where policyholders view them as a friend, philosopher and guide. As LIC's total business is affected through the agency sales force, the need of the hour is to study the importance of motivational factors and the level of satisfaction of agents and development officers of LIC of India, as they constitute the human element in the insurance sector.

Life insurance provides security to the individual and his family against the hazards of life. Small savings in the form of life insurance premiums are invested in long-term investments. Life Insurance Corporation (LIC) plays a vital role in stabilizing the national economy and hence has become an essential service. In an organization a person does not function just as an individual, but as a member of a group or a team. The effective functioning of an individual is a perquisite to the effective functioning of a team. A team consists of people with complimentary skills who are committed to a common purpose or goal holding themselves mutually accountable for their approach and performance. This distinction in Life Insurance Corporation is particularly relevant in conceptualizing the kind of teams desired for the development of the organization and the efforts taken in creating high performance-oriented, self-managed teams.

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