INTRODUCTION

• Insurance is a financial protection tool that helps individuals and families

manage unexpected risks and losses.

• It provides security against events such as illness, accidents, death, and

property damage.

• Insurance promotes financial stability and peace of mind by reducing the

burden of unforeseen expenses.

• This study was conducted to analyze people's awareness, preferences, and

perceptions regarding insurance.
 Significance / RELAVANCE

•Helps understand the level of insurance awareness among the public.

•Identifies factors influencing insurance purchase decisions.

•Reveals customer concerns and misconceptions about insurance.

•Assists insurance companies in improving their products and services.

•Provides insights for developing effective insurance awareness programs.

 OBJECTIVES
• To study public awareness regarding insurance.

• To analyze preferences for different types of insurance policies.

• To identify the factors affecting insurance purchasing decisions.

• To understand customer concerns related to insurance.

• To gain practical knowledge of the insurance industry and market

research.
 DATA SOURCE
• PRIMARY DATA : The primary data was collected through a structured
questionnaire to understand individuals' investment preferences, risk appetite,
insurance awareness, and financial goals. The study involved both field work and
independent surveys conducted by a group of 8 students. Each student surveyed at
least 20 respondents, resulting in a total of 220 responses.

• SECONDARY DATA : The data gathered from various reliable source such as
published articles ,research papers , financial journals , authentic and website and
academic textbook .

TIME FRAME: The study has been conducted from 20 th may to 10th June 2026.
METHODOLOGY
❑ The study was conducted through both field work and a questionnaire survey.

❑ A group of 8 students carried out the field work to gather practical information.

❑ A structured questionnaire consisting of 15 questions was used for the survey.

❑ Apart from the field work, each student independently surveyed at least 20
respondents using the questionnaire, resulting in a total of 220 responses.

❑ The collected data was analyzed using percentage analysis and presented through
pie charts for easy interpretation.
ANALYSIS
Q1. Do you currently have any Insurance?
Total Responses 220

30%
Life 34%

Health
I'm planning to
No, don't have

13% 23%
Q2. Why do you think people need insurance?
Total Responses 220

8%

To save money
during emergencies 14%
34%
To protect family

Because it is
required
For peace of mind

44%
Q3. How did you learn about insurance?
Total Responses 220

12%

34%
Through an agent
Family or friends 23%
T.V or Newspaper
I never hear much

31%
Q4. Do you think insurance is most important for
everyone?
Total Responses 220
4%

Strongly agree
Agree
43%
Disagree 53%
Strongly Disagree
Q5. What is the difference between insurance and
investment? Total Responses 220

Investment is for 16%

personal needs;
insurance is for
future generations
Insurance always 6%
gurantee profit;
investment always
51%
leads to loss
Insurance is for rich
people; investment
is for everyone 27%

Insurance and
investment are the
same
Q6. What would you insure apart from life?
Total Responses 220

11%

Home 16%
Business 46%

Gadgets
Jewellery

27%
Q7. Which of the general insurance types do you
prefer the most?
Total Responses 220
8%

Life 37%

Fire
Health
Motor 47%

8%
Q8. Do you have any Double Insurance of your
property?
Total Responses 220
8%
15%
Yes

19%
No

I am unaware of this
term

This question is not 58%

applicable to any of
my insurance policy
Q9. Which type of insurance provides coverage for
damage to property?
Total Responses 220
8%
15%

Health 19%

Property
Life
Motor

58%
Q10. Which type of insurance policy provides both
insurance and investment benefits?
Total Responses 220

18%
23%
Term insurance

Whole life insurance

ULIP (Unit Linked

Insurance Plan)
Motor insurance plan 20%
39%
Q11. What do you think which insurance is most
risky to you?
Total Responses 220

10%

Term insurance 31%

13%
Long-term car
insurance
Health isnurance

Life insurance

46%
Q12. What is the biggest factor you consider when
choosing health insurance?
Total Responses 220

16%
24%
Premium cost

Hospital network
coverage
Claim process
25%
Coverage amount

35%
Q13. How do you prefer to buy insurance?
Total Responses 220

15%

29%
7%
Online
Through agent
Via call
I don't buy insurance

49%
Q14. How often do you think about updating your
policy? Total Responses 220
10%

Regulary (once a 25%

year)
Only when
something cahnges
Rarely 33%

Never

32%
Q15. What is your biggest concern about
insurance?
Total Responses 220

16% 19%

High cost
Complex terms
Claim rejection 22%
Lack of trust

43%
LIST OF FINDINGS
Q1: Most respondents either have life insurance or plan to obtain insurance, though a significant share remains
uninsured.

Q2: Protecting family members is the primary reason respondents consider insurance important.

Q3: Insurance awareness is mainly driven by agents and family/friends.

Q4: The vast majority of respondents believe insurance is important for everyone.

Q5: Most respondents understand that insurance and investment serve different purposes.

Q6: Home insurance is the most preferred option apart from life insurance.

Q7: Health insurance is the most preferred type of insurance among respondents.

Q8: Most respondents do not have double insurance coverage for their property.
Q9: A majority of respondents correctly identified property insurance as protection against property damage.

Q10: ULIP is the most recognized policy offering both insurance and investment benefits.

Q11: Long-term car insurance is perceived as the riskiest insurance option by most respondents.

Q12: Hospital network coverage is the most important factor when choosing health insurance.

Q13: Most respondents prefer purchasing insurance through agents.

Q14: Respondents generally review their insurance policies only when necessary rather than regularly.

Q15: Complex policy terms are the biggest concern respondents have about insurance.
Recommendations
Q1 : If you don't have insurance yet, start with a basic term or health plan early to lock in the lowest possible rates.

Q2 : Think of insurance as your ultimate financial safety net so your family never has to compromise during a
crisis.

Q3 : While friends and agents give great advice, always double-check policy details on official company websites
before buying.

Q4 : Even if you are healthy, a sudden medical emergency can wipe out your savings—everyone needs a backup
plan.

Q5 : Remember: Insurance is meant to protect you from financial loss, while investments are meant to grow your
wealth.

Q6 : Your home and business are major assets; securing them protects you from massive out-of-pocket repair costs.

Q7 : Always ensure you have a mix of health insurance for medical needs and motor insurance to cover road
accidents.
Q8 : Be careful—insuring the same property with two different companies won't give you a double payout for the
same damage.

Q9 : Make sure to buy specific "Property/Home Insurance" to protect your house and belongings from fire or
theft.

Q10 : If you want both protection and savings, look into ULIPs, but remember that pure Term plans offer the
highest coverage for the lowest price.

Q11 : Long-term plans aren't risky if you choose a locked-in premium; it actually protects you from price hikes
later.

Q12 : Don't just chase the cheapest premium; check if your favorite nearby hospitals offer cashless treatment on
that plan.

Q13 : Research plans online to compare prices easily, but feel free to talk to an agent to clarify the fine print.

Q14 : Life changes fast! Make it a habit to review your policy every time you get married, have a child, or buy a
house.

Q15 : Never hesitate to ask an agent to explain tricky terms in plain English before you sign any paperwork.
LIMITATION
1. Sample Size Limitation – The study was conducted on only 220 respondents, which may not
represent the entire population.

2. Time Constraint – The survey was completed within a limited time period, restricting wider data
collection.

3. Limited Knowledge of Respondents – Some respondents may not have had complete knowledge
about insurance products and services

4. Language Barrier – Some respondents faced language difficulties while understanding and
answering the questionnaire.
 CONCLUSION
The study shows that people are generally aware of the importance of insurance
and consider it essential for financial security. Most respondents prefer health and
life insurance, mainly to protect their families and manage unexpected risks.
However, concerns about complex policy terms, costs, and claim processes still
exist. Overall, the findings indicate a positive attitude toward insurance, while
highlighting the need for greater awareness, simpler policy information, and regular
policy reviews to help individuals make informed decisions.
Thank You