A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND

PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-

BANAHATTI CITY

CHAPTER 1

INRODUCTION AND
RESEARCH DESIGN

1.1. INTRODUCTION
1.1.1.1. introductionfnfgfhfghgfhfhg
1.2. REVIEW OF LITERATURE

1.3. STATEMENT OF THE PROBLEM

1.4. NEED FOR THE STUDY

1.5. OBJECTIVES OF THE STUDY

1.6. RESEARCH METHODOLOGY

1.7. SCOPE OF THE STUDY

1.8. LIMITATIONS OF THE STUDY

1.9. RESEARCH DESIGN

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |1

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

CHAPTER 1
INRODUCTION AND RESEARCH DESIGN

1.1 INTRODUCTION
Human life is a most precious asset and life insurance is one of the ways which
provides financial protection to a person and his family at the time of any
disaster. Life Insurance provides both safety as well as protection to individuals
and also boosts savings among people. Insurance companies play an important
role in the welfare of human wellbeing by providing protection to millions of
people against life risks such as uncertain death or accident. LIC is the most
trusted and popular brand in life insurance, the market share of private insurers
is gradually increasing with people trust. The new private players offer many
new innovative products and services. They are increasing the awareness level
among consumers by using innovative and new techniques of advertisement,
introducing new products, increasing penetration of life insurance of consumers
in uninsured markets. Customers are the backbone of life insurance business.
Every company tries to attract new customers and retain existing customers in
order to keep their profits high. This helps insurance companies to maintain a
good competitive edge on its competitors. The proper understanding of
customers their needs and expectations help insurance providers to bring
betterment in product as well as services offered.
In today's competitive world, it becomes necessary for life Insurers to provide
customer satisfaction, spread move awareness, stress on need based innovative
products and affordable price. This would help every individual to avail the
benefits of insurance and protect their lives against future risks and
uncertainties. Earlier life insurance was used as a tool to protect the income of
families, particularly young families in income saving phase, in the event of the
head of household's death. But now, life insurance is used for many other
reasons, including wealth preservation and tax saving.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |2

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

1.2 REVIEW OF LITERATURE

1
Bhavesh, Mitul, Bhagvan (2012) This paper expresses about the Industry there is
lots of confusion regarding the purchase of Insurance Products that by the influence of
which particular factor people are purchasing the product. And also identify about that
in which type of company people like to invest. Weather they like Government
Company or private company. In that research paper most influence factor for
purchasing the insurance product are safety and security, growth of money and
planning for future. And in spite of privatization investors are more likely to invest in
Government Company.

2
Dr. Karthik, Dr. M. Balamurugan (2013) The researcher expresses their words
regarding life insurance. The profitability of the life insurance companies has also
been changed due to change in operating activity like selling new policies,
appointment of active agents, giving commission to the agents and evaluating
maturity value. The growth of insurance business of private sector companies has
been higher than government sector. The competition has become hectic between
them, which ultimately benefits the consumer.

3
Dr. C Kalpana Naidu Dr. C Paramasivan (2015) This research paper attempts to
study the Public & Private Life Insurance Companies in India and compare the
perception of customers in terms of service quality and analyze the performance of
public and private life insurance companies in India. The research paper shows that
the LIC continues to dominate the sector. Private sector insurance companies also
tried to increase their market share. Private life insurers used the new business
channels of marketing to a great extent when compared with LIC.

1
Mr. Mitul Deliya, Mr. Bhavesh Parmar, Mr. Bhagvan Karnavat (March-2012), “Investment Pattern of
Investors in Insurance Companies”, ISSN: 2249-5908, Issue2, Vol. 2, Page No. 181.
2
Dr. Karthik Mohandos, Dr. M. Balamurugan (April-June 2013), “A Study on Performance of
Insurance Industry in India”, Issue. 1, Vol. 1, Page No. 73.
3
Dr. C Kalpana Naidu Dr. C Paramasivan, (2015) “A Comparative Study of Public & Private Life
Insurance Companies in India”, ISSN: 2395_1885, 2395_1877, Vol. 1, Issue. 7.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |3

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

4
Dr. V. Balaji, Dr. K. Anbazhagan (2019) This research paper is to study the
factors influencing investors‟ investment behavior towards life insurance policies.
Questionnaire was used for collecting data from the policy holders of private and
public life insurance sector in Namakkal town. Convenience sampling technique was
applied in this study. Researcher has taken few Hypothesis based on demographic and
Insurance based preference factors and tested them with the help of ANOVA. It found
that Professionals preference towards insurance plan for financial protection, high
returns, risk coverage and tax benefits.

5
Babita Yadav (2012) It has studied the factors affecting customers investment
towards life insurance policies. LIC is the most accepted and popular brand in life
insurance, the market share of private insurers is gradually increasing with people
trust and better services offered by them are some of the main findings of the study.
Insurance companies should spread more awareness about life insurance, reduction in
premium amount and giving more attention on need based innovative products are
some of the suggestions provided by the researcher. The paper concludes with that
demographic factors of the people play a major role in deciding the purchase of life
insurance policies.

6
Sandeep Deshmukh, (2015) The researcher has analyzed the preferences of
customers while life policy investment decision-making. Various reasons to take
insurance policies have been discussed in the paper. The study area is limited to
Nagpur District of Maharashtra. The paper concludes with that most of the
respondents take insurance policies for „Savings‟ and „Wide risk coverage‟.

4
Dr. V. Balaji, Dr K Anbazhagan, (Nov-2019) “Factors Influencing Investors‟ Investment Behavior
Towards Life Insurance Policies” ISSN: 0731-6755, Vol. 12, Issue 11.
5
Babita Yadav, (2012) “A Study on Factors Affecting Customers Investment Towards Life Insurance
Policies” ISSN: 2277 3622. Vol.1 Issue 7, Page No.106-123.
6
Sandeep Deshmukh, (2018), “Customers Perception for Taking Life Insurance: A Critical Analysis of
Life Insurance Sector in Nagpur” ISSN: 2319-1422, Vol. 7, Issue 3.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |4

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

7
Damodar Basaula (2017) This research paper examined the awareness and
satisfaction of customers towards life insurance claim settlement in Nepal.
Descriptive research designed has been employed in the study. The study revealed
that majority of the respondents has neutral response on the satisfaction towards claim
settlement. The study revealed that government should focus on awareness of life
insurance and make it mandatory for every citizen.

8
Padmaja (2018) This studied the perception of investors towards Life Insurance
Corporation of India while their investment decision-making. The study area is
limited only to Machilipatnam. This research paper is helps to understand the
perception levels of the investors towards the LIC insurance policies, observe the
impact of various perception factors on the purchasing behavior of the investors. And
To measure the satisfaction levels of the investors towards to the services provided by
the LIC.

9
Subashini, (2016) The primary objective of this study is investor‟s perception on life
insurance with special reference to max life insurance private ltd. It helps the
researcher to analysis important characteristics of the population. It helps to identify
the client attitude towards max life insurance. The study reveals that majority of the
investors are expecting 11to 15 return on their investment.

10
P. B. Ashturkar, (2014) Claim management is vital area of the life insurance
business. Life insurance business in India is flourishing fast; however, the success of
the life insurance companies will largely depend upon the claim management. After
liberalization, several private sector companies into life insurance space, to command

7
Damodar Basaula, (2017) “Customers Satisfaction Towards Life Insurance Claim Settlement in Nepal”
Vol. 6. Page No. 29-44.
8
Padmaja, (2018), “A Study on Investors Perception Towards LIC With Special Reference To LIC,
Machilipatnam”, E-ISSN: 2278-487X, P-ISSN: 2319-7668. Vol. 20, Issue 3, Page No. 48-53.
9
Subashini (2016), “A Study on Investors Perception on Life Insurance with Special Reference to Max
Life Insurance Private Limited” ISSN 2349-6010, Vol. 2, Issue 11,
10
P. B. Ashturkar. (2014), “Corporate Study of Effectiveness of Claim Settlement Operations in India
Life Insurance Companies” ISSN 2321-7782, Vol. 2 Issue. 11 Page No.148-155.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |5

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

self-assurance of the potential customer it is necessary for the newly formed private
sector company to compete with public sector giant Life Insurance Corporation on all
front including claim management.

11
Kalani, Salunkhe and Ahirao (2013) The examined claim settlement ratio of LIC
with other insurance companies in India. Study observed that there are cases of
frauds in claim settlement that may happened but if the policy holder uses proper
precautions he will prevent himself from fraud. LIC of India provides better corporate
services for settling the customers claim. D-mat may improve transparency and
efficiency of the claim settlement. Authors studied comparison of claim settlement
ratio of LIC with other life insurance industry and survey of policy holders and
opinion regarding claim settlement.

12
Yadav and Mohania (2013) The study entitled claim settlement of life insurance
policies in insurance services with special reference of Life Insurance Corporation of
India. Authors have focused on management framework of LIC for the settlement;
impacts of claim settlement on the sale of life insurance policies by LIC of India,
claim settlement process followed by LIC of India, awareness towards claim
settlement among customers and analyze quality of service provided by LIC of India
for claim settlement.

13
Dr. K. Navarathinam (2016) In today‟s cut throat competition, it becomes
essential for life insurers to provide better customer services, spread more awareness,
emphasis on need based innovative products and reasonable price. Since the
penetration of private companies and policies is low among the consumer, Private
insurers should emphasis more on advertising and building brand awareness through

11
Kalani, Salunkhe And Ahirrao (2013) “Comparative Study of Claim Settlement Ratio of LIC With
Other Insurance Companies in India”, ISSN: 2249-555x, Vol. 3, Issue. 5, Page No. 389-391.
12
Yadav And Mohania (2013) “Claim Settlement of Life Insurance Policies in Insurance Services with
Special Reference of Life Insurance Corporation of India”, ISSN: 2320-9836, Vol. 1, Issue. 1, Page
No.29-37.
13
Dr. K. Navarathinam (2016), “A Study on Impact of Demographic Factors on Life Insurance
Demand with Reference to Madurai District”, ISSN. 2321 – 4643, Vol. 4, Issue. 1, Page no. 107-113.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |6

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

different modes of communication. This will help in spreading insurance awareness

among the common man.

14
Rao, K Nagaraja (2012), Most of the researches focused only on one category of
investor but the present research studies the behavior of students, businessmen,
housewives, salaried and others in entirety and its impact on stock market. It
examines the different investor‟s group on distinct parameters to check which group is
influenced by a respective bias.

1.2.aRESEARCH GAP
Review of related literature in the area of life insurance services, products, private life
insurance companies, awareness about insurance policies, perception of the policy
holders, buying behavior of the policy holders and policy holder satisfaction had been
made by the researcher to establish validity of the research topics, research studies
conducted by eminent researchers for a span of two decades have been reviewed and
the researcher understood the gaps in the earlier studies. Earlier there is no studies
were conducted about the policy holders‟ service quality perception along with their
satisfaction. Further, in the recent years no studies were conducted in Rabakavi-
Banahatti City related to this comparative research study and hence the researcher has
undertaken A Comparative Study of Investors Perception Towards Purchasing Life
Insurance Policies at Private and Public Insurance Companies at Rabakavi-Banahatti
City.

1.3 STATEMENT OF THE PROBLEM

Purchasing insurance is one of the most important decisions in life because it is very
long-term investment. Privatization in the sector led to the entry of foreign players
with significant capital commitments and growth aspirations in the Indian insurance
arena. So, comparison of insurance providers is very crucial for people before buying
insurance product. Each and every insurance provider performs in the different
manners in term of providing services, collecting premium amount and much other

14
Rao, K Nagaraja (2012), “Study of rural insurance market in India with special reference to life
insurance”, Ph. D Thesis.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

financial performance.This gives an opportunity to compare and choose the most

affordable policy with the best options for personal situation. It is becoming basic
need of any individual in terms of considering the financial risk after once death or
even any financial loss during the life. Insurance is very big business and crores of life
concerned and dependent on this business. Investors are confused because various
insurance policies are available in the market so this will help to the insurers to
understand the consumer perception about life insurance policies with respect to
Public and Private insurance companies and how a consumer select organize and
interpret the quality of service and product offered by the company.

1.4 NEED FOR THE STUDY

Insurance is basically a protection against a financial loss which can arise on the
happening of an unexpected event. This study helps to individual investors to invest
their money in various insurance policies with the whole knowledge about the life
insurance policies. Because individual can earn money but they may in dilemma
while selecting an investment avenue. Life insurance is the very important aspect for
individual to involve less risk and desired return to investors and it gives proper
information to investors. Investor can invest their money in life insurance he will
obtain tax advantage from the government. Life insurance policies are involved long
term and short-term insurance. It is win-win situation from insurance business side
and insurance investorspoint of view. It helps to improve the private insurance
companies. Intend of this study is to identify and evaluate the influence of different
behavioral psychomotor on the decision making of life insurance investors in
Rabakavi-Banahatti City.

1.5 OBJECTIVES OF THE STUDY

1. The study investors behavior on various insurance policies in the Rabakavi-
Banahatti City.
2. To examine the psychomotor of investors on the public and private insurance
policies.
3. To study the factors influencing the choice of investors in choosing a life
insurance policy as an investment.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. |8

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

1.6 RESEARCH METHODOLOGY

The study is conducted using both analytical and descriptive type of methodology.
The study primarily depends on primary and secondary data. The survey is conducted
in Rabakavi-Banahatti City. The study was done during the period of 2022. The
primary data are collected throughsurvey method. Survey is conducted using well
formulated Questionnaire. Random Sampling method is applied to collect the
responses through questionnaire from insurance investors within the jurisdiction of
Rabakavi-BanahattiCity. And secondary data are collected from Journals, Magazines,
Publications, Reports, Books, Articles, Research Papers, Websites, Company
Publications, Manuals and Booklets. These Information are used for the references
and giving more advise to the investors.
Public companies are: 1) Post-Office Life Insurance 2) SBI Life Insurance
Private companies are: 1) ICICI Bank 2) Karnataka Bank

1.7 SCOPE OF THE STUDY

There are total 57 insurance companies in India. 24 are the life insurance companies
in present market and remaining are the Non-Life Insurance companies in India. The
study focused on insurance investors in Rabakavi-Banahatti City. The study aimed at
checking the impact of behavioral biases on life insurance policies in both public and
private sector. Further the study Intend to examine the influence of psychological
factors on the buying behavior of life insurance investors.

1.8 LIMITATIONS OF THE STUDY

 Purely based on the previous review of literatures only.
 This research paper is covers limited questions.
 The ability and unwillingness of respondents to answer the questions.
 The sample size is restricted to 100.
 The time of research was limited due to which certain variables are not
covered.
 The respondents might have given biased opinion.
 The area undertaken for research is limited to Rabakavi-Banahatti city.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

1.9 RESEARCH DESIGN

CHAPTER 1 INTRODUCTION AND RESEARCH DESIGN

1.1. Introduction
1.2. Review of literature
1.3. Statement of the problem
1.4. Need for the study
1.5. Objectives of the study
1.6. Research methodology
1.7. Scope of the study
1.8. Limitations of the study
1.9. Research design

CHAPTER II CONCEPTUAL FRAMEWORK

2.1. Meaning and definition of life insurance
2.2. Need for the insurance
2.3. Factors affecting investors behavior
2.4. Importance of life insurance
2.5. Types of life insurance
2.6. Behavioral biases
2.7. Influence of behavioral biases on investors

CHAPTER III DEMOGRAPHIC AND COMPANY PROFILE

3.1. Introduction
3.2. Profile of Public Sector Insurance Policies
3.3. Profile of Private Sector Insurance Policies
3.4. Demographic Profile of Rabakavi-Banahatti

CHAPTER IV DATA ANALYSIS AND INTERPRETATION

4.1. Introduction
4.2. Meaning
4.3. Importance of data analysis
4.4. Tables and graphs each table inferences
CHAPTER V FINDINGS, SUGGESTIONS, CONCLUSION
5.1. Findings
5.2. Suggestions

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

5.3. Conclusion

CHAPTER II

CONCEPTUAL FRAMEWORK

2.1. MEANING AND DEFINITION OF LIFEINSURANCE

2.2. NEED FOR THE INSURANCE

2.3. FACTORS AFFECTING INVESTORS

BEHAVIOR

2.4. IMPORTANCE OF LIFE INSURANCE

2.5. TYPES OF LIFE INSURANCE

2.6. BEHAVIORAL BIASES

2.7. INFLUENCE OF BEHAVIORAL BIASES ON

INVESTORS

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

CHAPTER II
CONCEPTUAL FRAMEWORK

2.1. INTRODUCTION
In today's competitive world, it becomes necessary for life Insurers to provide
customer satisfaction, spread move awareness, stress on need based innovative
products and affordable price. This would help every individual to avail the benefits
of insurance and protect their lives against future risks and uncertainties. Earlier life
insurance was used as a tool to protect the income of families, particularly young
families in income saving phase, in the event of the head of household's death. But
now, life insurance is used for many other reasons, including wealth preservation and
tax saving.

2.2. MEANING AND DEFINITIONS OF LIFE INSURANCE

MEANING

Life Insurance can be defined as a contract between an insurance policy holder and an
insurance company, where the insurer promises to pay a sum of money in exchange
for a premium, upon the death of the insured person or after a set period.
In Life Insurance contact, the human life is insured against old age illness, accident,
death, etc. Life insurance contract is not a contract indemnity. Hence the insurer has
to reimburse a definite sum on the maturity or completion of policy.

DEFINITIONS
“A contract where an insurance company undertakes in consideration of regular
payment of premium to pay a certain sum of money to the assured-on maturity of
policy or death, whichever is earlier”
“Life insurance is a contract between two parties whereby one party agrees to pay to
the other party, a certain amount of money as premium to make good the loss of life
arising out of an uncertain event of death in which the insured has interest”.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

“If you were to go by the dictionary definition, “life insurance” is a financial product
that pays you or your dependents a sum of money either after a set period or upon
your death as the case may be”.
2.3. NEED FOR THE LIFE INSURANCE
 Converting the cost of death, disability or terminal illness.
 Buffering the period of transition for the family after the death of the primary
breadwinner.
 Passing on the legacy to the next generation.
 It allows you to achieve your long term and short-term financial goals.
 Life Insurance Policies are low risk investment options.
 It covers medical expenses.
 Assists in smart financing planning.
 Meet family‟s financial requirements in future.
 Clear outstanding loans and expenses.
 Avail loans against Insurance policy documents.

2.4. FACTORS AFFECTING INVESTORS BEHAVIOR

1) Age: If you‟re young, the chances are that you‟ll be paying the insurer for years
before they ever have to worry about writing your family a check. Consequently,
you‟re better off taking out a policy before it‟s too late. But that doesn‟t mean you
need insurance right after college if you don‟t have any financial dependents.

2) Gender: Insurance carriers use statistical models to approximate how long

someone with a specific profile will be around. The fact is that women, on average,
live nearly five years longer than men. And because they‟re usually paying
premiums for a longer period of time than males, they enjoy slightly lower rates.

3) Smoking: Smoking puts you at a higher risk for all sorts of health ailments. So if
you like to light up, it‟s a red flag for insurance companies. In fact, it‟s not
uncommon for smokers to pay more than twice as much as non-smokers for

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 13

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

comparable coverage. The effect on your pocketbook is another great reason to try
and kick the habit.

4) Lifestyle: Is your favorite pastime racing cars or climbing treacherous mountains?

If so, you‟ll probably have to shell out substantially more for insurance. Any time
you engage in high-risk activities, there‟s an increased likelihood that you‟ll meet
an early end – a big concern for carriers. Some companies also charge more if you
have a relatively dangerous profession, such as mining, fishing, or transportation.

5) Family Medical History: A family history of stroke, cancer, or other serious

medical conditions may predispose you to these ailments and lead to higher rates.
Carriers are usually interested in any conditions your parents or siblings have
experienced, particularly if they contributed to premature death. Some carriers put
more emphasis on your family‟s health than others, but it‟s likely to have some
impact on your premium.

6) Driving Record: It may come as a surprise, but many life insurance companies
look at your driving record during the underwriting process. Whether or not they
ask about violations on the application, they can access Department of Motor
Vehicles records to find out if you‟ve run afoul of the traffic laws. Keep in mind
that the last three to five years carry the most weight, so if you‟ve improved your
driving habits, you may benefit from a more favorable price.

2.5. IMPORTANCE OF LIFE INSURANCE IN MITIGATING RISK

1. Provide safety and security:

Insurance provide financial support and reduce uncertainties in business and human
life. It provides safety and security against particular event. There is always a fear of
sudden loss. Insurance provides a cover against any sudden loss.

2. Generates financial resources:

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

Insurance generate funds by collecting premium. These funds are invested in

government securities and stock. These funds are gainfully employed in industrial
development of a country for generating more funds and utilized for the economic
development of the country.
3. Life insurance encourages savings:
Insurance does not only protect against risks and uncertainties, but also provides an
investment channel too. Life insurance enables systematic savings due to payment of
regular premium. Life insurance provides a mode of investment. It develops a habit of
saving money by paying premium. The insured get the lump sum amount at the
maturity of the contract. Thus, life insurance encourages savings.

4. Promotes economic growth:

Insurance generates significant impact on the economy by mobilizing domestic
savings. Insurance turn accumulated capital into productive investments. Insurance
enables to mitigate loss, financial stability and promotes trade and commerce
activities those results into economic growth and development.

5. Medical support:
A medical insurance considered essential in managing risk in health. Anyone can be a
victim of critical illness unexpectedly. And rising medical expense is of great concern.
Medical Insurance is one of the insurance policies that cater for different type of
health risks. The insured gets a medical support in case of medical insurance policy.

6. Spreading of risk:
Insurance facilitates spreading of risk from the insured to the insurer. The basic
principle of insurance is to spread risk among a large number of people. A large
number of persons get insurance policies and pay premium to the insurer. Whenever a
loss occurs, it is compensated out of funds of the insurer.

7. Source of collecting funds:

Large funds are collected by the way of premium. These funds are utilized in the
industrial development of a country, which accelerates the economic growth.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY

Employment opportunities are increased by such big investments. Thus, insurance has
become an important source of capital formation.

2.6. DIFFERENT TYPES OF LIFE INSURANCE

The insurance which covers life risk of the insured, is life insurance or assurance. In
the event of death, the amount is paid to the nominee. The following are the most
common types of Life Insurance:

1. Term Life Insurance

It is the most popular and widely used type of life insurance policy. Term insurance
provides coverage for a particular period. If anything, bad (disability or death)
happens to the policyholder, the family will receive a lump sum specified in the
insured plan. Further, the insurance company will pay no compensation or amount to
the policyholder and his family if the policyholder survives for a specified period.

2. Whole Life Insurance

Whole life insurance plans offer life-time coverage to the insured. The insurance
company will pay a certain sum of money to the insured person's family after death.
They will also be entitled to the bonus that is often earned on such an amount. While
the entire life insurance plan offers to pay the death benefit, the plan also includes a
savings component, which helps to earn cash value during the policy term.

3. Endowment Policy
The endowment plan provides financial benefits to the insured against the
uncertainties of life. This type of life policy allows the insured to save regularly over a
specific period. The policyholder gets a lump sum after the completion of the fixed
period. Besides, the insurance company pays the same amount to the policyholder's
family in case of death of the policyholder. Unlike term insurance, the endowment
policy pays the full amount even after the policy term.

4. Money-back Policy

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In this policy, the insurer pays a certain percentage of the sum assured at regular
intervals to the policyholder as a survival benefit. After the end of the period, the
policyholder gets the balance as maturity income. Besides, the policyholder's family
can receive the sum assured in the event of the policyholder's death during the policy
term.

5. Unit-linked Insurance Plans (ULIPs)

Unit-linked insurance plans provide both investment and insurance benefits under a
single policy contract. Some of the premium value goes towards insurance cover,
while the rest is invested in debt and equity associated with various markets. However,
the policyholder has the facility to choose the allocation of premium across various
instruments according to financial needs and market risk appetite. After the
policyholder's death, the policyholder's family is paid a lump sum.

6. Child Plans
A child plan is a special type of life insurance policy that helps individuals protect
their children's future financially. The insurance company promises to give a lump
sum to the policyholder's child after the policyholder's death. Just as the policyholder
pays the premium during his life; similarly, the insurer pays the premium to the
policyholder's child at regular intervals after the policyholder's death.

7. Pension Plans
A pension plan, or retirement plan, is a type of insurance that allows individuals to
accumulate some savings over an extended period. This insurance policy usually
helps them create retirement funds, which can be received at regular intervals after
retirement in pension. In case of any uncertainty, the policyholder's family can also
claim the sum insured.

8. Universal life insurance

There are three types of universal life insurance (UL): indexed universal life insurance
(IUL), guaranteed universal life insurance (GUL), and variable universal life

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insurance (VUL). All have a cash value, just like a whole life policy. Your premiums
go toward both the cash value and the death benefit.
a) Indexed universal life insurance: Indexed universal life insurance is the most
popular type of UL. The cash value account has a minimum (and maximum)
guaranteed interest rate based on a stock market index (like the S&P 500),
chosen by the insurer.
b) Guaranteed universal life insurance: Guaranteed universal life insurance is
universal life insurance without the market risk. Your premiums stay the same
regardless of how market indexes perform, as your plan‟s interest rates are
baked into the premiums when you sign up for the policy. This type of life
insurance has a “no-lapse” guarantee, meaning that as long as you pay your
premiums, you‟ll have coverage.
c) Variable universal life insurance: Variable universal life insurance has a
variable interest rate set by the life insurance company. Cash value is invested in
mutual funds that can increase or decrease. It shares elements from universal
and variable life insurance policies.

9. Variable life insurance

The money paid into a variable life insurance cash value goes into a series of mutual
fund-like sub-accounts where you can get some decent growth, but you can also lose
money depending on the market. This type of policy‟s cash value is more akin to
investing.

10. Burial insurance

There are two types of burial insurance (also known as final expense life insurance),
both of which fall under the whole life insurance category: simplified issue life
insurance and guaranteed issue life insurance.
a) Simplified issue life insurance: Simplified issue life insurance allows you to
fill out a health questionnaire and skip the medical exam. This is also a type of
no-medical-exam policy.
b) Guaranteed issue life insurance: Guaranteed issue life insurance skips both the
medical exam and the health questionnaire. As long as you can pay the

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premiums and fill out the application with info about your age, sex, and
residency, the insurer will cover you. If you can‟t answer questions on the
application due to advanced dementia or Alzheimer‟s, then you wouldn‟t qualify
for guaranteed issue life insurance.
11. Group life insurance policies
Group life insurance is an employee benefit provided by some employers that is a
type of term life insurance called annual renewable term. It isn‟t technically a type of
life insurance, but it‟s important to know how it's different from privately purchased
life insurance.

2.7 BEHAVIOURAL BIASES

1. Cognitive Bias:
This is the mistake of processing information in one's own beliefs. judgments and
preferences. The faulty reasoning, evaluation and remembering by keeping into
fists the existing heuristics regardless of differing information let the occurrence
of cognitive bias.

a) Overconfidence:
"Too many people overvalue what they are not and undervalue what they are." -
Malcolm S. Forbes. It gives the faulty notion of intuition, reasoning, and beliefs
by overestimating one's capabilities and underestimating an opponent.
b) Representative Bias:
The representativeness bias further supports the notion that people fail to properly
calculate and utilize probability in their decisions. Investors can fail to notice
trends or extrapolate data erroneously because they interpret it as fitting their
preconceived notions.
c) Anchoring and Adjustment Bias:
anchoring bias uses the irrelevant information as reference. The "anchor" acts as
the first and foremost piece of information while making decisions and by the
time subsequent judgment is adjusted.
d) Cognitive Dissonance:

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It is the state of mind where the incompatibility between the two cognitions
contradicts with the existing level of knowledge, belief, attitude. emotion and
behavior.
e) Availability Bias:
Which tends that people prospects the rate of events in the way they are
effortlessly recalled from the memory. The notion of recalling is utmost important
as it acts as an alarm for the upcoming consequences which have been perceived.
The prior experiences build an array of analogues events which contributes in the
development of biases.
f) Self-Attribution:
Self-Serving or Self Attribution bias links the successful outcomes to the
investors' own skill and unsuccessful outcomes to chance or bad luck. The
consequences of this bias lie in further aspects: The investors who constantly
make the mistakes do not learn from their past mistakes.
g) Illusion of Control:
This bias results in overestimating ability to control the events. People tend to
believe that they can control the outcomes which results in higher volume of
trading. This cycle ultimately leads to lesser amount of returns.
h) Conservatism Bias:
Human mind always resist change because it is conservative. If the new piece of
information contradicts with the existing information people tend to under react to
the available pie. Under conservatism, the beliefs get stuck at one place and the
investors does not look for up to the minute information.
i) Ambiguity Aversion and Familiarities bias:
Ambiguity aversion itself depicts that a known risk is always welcomed over
unknown risk. The probability of future outcome results in unfavorable prospects.
When people are offered two or more than two alternatives people tend to prefer
that option for which they are familiar with. This is also connected with stock
selection decision. This actually happens because people tend to get more
information for those stocks for which they are familiar.
j) Mental Accounting:

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People in broad spectrum put money in separate accounts for their financial
investment decisions. For instance, people full their 'money pot' separately for
marriage purposes, vacations, education for children and many more, but still goes
to the debt of bank or credit card with due mechanism of interest dues. This is
illogical to increase the debt obligations and reducing the net worth.
k) Confirmation Bias:
This bias favors the information which confirms the strong beliefs. Confirmation
bias puts more weight on the information which investors. Already believe with
burly(strongly) built.
l) Hindsight Bias:
(Understanding of a situation or event only after it has happened) This tends the
inclination (a person's feeling) to predict the event before they happen and get
imbibed or absorbed with the feelings that people know it prior to that.

2. Emotional Bias:
a) Self-Control:
Investors do not have perfect self-control. The emotions of investors are not in
control. Due to no control over their emotion‟s investors make irrational decisions.
b) Optimism:
The investors have confidence about the future. They hope getting success and
earning more economical benefits from investing in different avenues.
c) Loss Aversion:
People's utility derives from losses and gains, rather than from final wealth.
People work from a psychological reference point and strongly prefer to avoid
losses below it.
d) Regret Aversion:
An investor is said to be suffering from regret aversion bias when he/she refuses
to make any decision because of the fear that the decision will turn out to be
wrong and then may later lead to feelings of regret.
e) Status Quo:
That involves people preferring that things stay as they are or that the current state
of affairs remains the same. This bias can have an effect on human behavior.

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2.8. INFLUENCE OF BEHAVIOURAL BIASES ON INVESTORS

Anchoring Bias: is a phenomenon that indicates the investor's values, an initial piece
of information, or could depend on recent information received to make investment
decisions. In simple word, while you go for insurance company, you simply rely on
the price listed of that insurance policy and make price comparisons before you
decide to buy the insurance policy.
Confirmation Bias:is cognitive in nature. It is the second most influential bias that
may affect your investment decision. Here, investors pay more attention to
information supports their views, the tendency to search for, and to adapt to alternate
information that might confirm an investor's beliefs.
Herd Mentality Bias:happens when an investor follows in the footsteps of other
investors and/or the majority when making investments, rather than basing their
investment decision on real-time, factual financial data.
Loss Aversion Bias:is a tendency to be excessively fearful of experiencing losses
relative to gains. When it comes to risky investment assets, losses are an inevitable
part. Moreover, for new investors, losses are the most unplanned part of their
investment strategy.
Overconfidence Bias:makes investors overestimate their abilities and knowledge;
this can lead to poor investment decisions. Overconfidence is an emotional bias; it can
be harmful towards your investment portfolio, as you may make decisions under this
bias without analyzing the market scenario.
Status quo bias:investors prefer that the current states of affairs remain unchanged
and they are skeptical of any change with investments.
Information bias:investors are frequently exposed to financial information from
various sources that leads us to evaluate irrelevant information and challenges
informed decision making.
Self-Attribution bias: occurs when investors attribute successful outcomes to their
own actions and bad outcomes to external factors. This bias is often exhibited as a
means of self-protection or self-enhancement.
Active Trading:in many studies, it has been shown that traders who trade excessively
(active traders) actually underperform the market.

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Mental Accounting:the human psyche tends to bucket or categorize types of

expenses or investments mentally. These buckets could include a “school fees” or
“retirement,” and different accounts often hold different risk tolerances. Oftentimes,
mental accounting leads people to violate traditional economic principles.

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CHAPTER III

RESPONDENCE PROFILE

3.1. INTRODUCTION

3.2. PROFILE OF PUBLIC SECTOR INSURANCE POLICIES

3.2.A. POST-OFFICE LIFE INSURANCE

3.2.B. SBI LIFE INSURANCE

3.3. PROFILE OF PRIVATE SECTOR INSURANCE POLICIES

3.3.A. ICICI BANK

3.3.B. KARNATAKA BANK

3.4. DEMOGRAPHIC PROFILE OF RABAKAVI-BANAHATTI

3.4.A. HISTORY OF RABAKAVI-BANAHATTI

3.4.B. POPULATION AND LITERACY

3.4.C. EDUCATION

3.4.D. ECONOMY

3.4.E. CLASS OF PEOPLE

3.4.F. SPECIALTY OF RABAKAVI-BANAHATTI

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CHAPTER III
DEMOGRAPHIC AND COMPANY PROFILE

3.1. INTRODUCTION
This chapter presents the profile of the study area, viz, Rabakavi-Banahatti city. It
provides a brief sketch on the features like location area, evaluation of the city,
geographical feature, education, economy, class of people, agriculture and specialty of
the area, etc. this is expected to help in understanding the character of the city in its
true nature. The population of Rabakavi-Banahatti is quite diverse one in terms of
religion, language and culture, Kannada is the main language.

3.2. PROFILE OF PUBILC SECTOR INSURANCE POLICIES

3.2.a. POST OFFICE LIFE INSURANCE

Postal Life Insurance (PLI) was introduced on 1st February 1884 with the express
approval of the Secretary of State (for India) to Her Majesty, the Queen Empress of
India. It was essentially a scheme of State Insurance mooted by the then Director
General of Post Offices, Mr. F.R. Hogg in 1881 as a welfare scheme for the benefit of
Postal employees and later extended to the employees of Telegraph department in
1888. In 1894, PLI extended insurance cover to female employees of P & T
Department at a time when no other insurance company covered female lives. It is the
oldest Life insurer in this country.
In the beginning, the upper limit of life insurance was only ₹ 4000/- which has now
increased to ₹ 50 lacs (Rupees Fifty Lacs) and it will be effective as and when notified

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through a Gazette notification for all schemes combined - Endowment Assurance and
Whole Life Assurance. Over the years, PLI has grown substantially from a few
hundred policies in 1884 to more than 46 Lacs policies as on 31.03.2017. It now
covers employees of Central and State Governments, Central and State Public Sector
Undertakings, Universities, Government aided Educational institutions, Nationalized
Banks, Local bodies, autonomous bodies, joint ventures having a minimum of 10%
Govt./PSU stake, credit cooperative societies etc. PLI also extends the facility of
insurance to the officers and staff of the Defense services and Paramilitary forces.
Apart from single insurance policies, Postal Life Insurance also manages a Group
Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) of the
Department of Posts.
PLI offers the following six types of policies:
1. Whole Life Assurance (Suraksha)
2. Endowment Assurance (Santosh)
3. Convertible Whole Life Assurance (Suvidha)
4. Anticipated Endowment Assurance (Sumangal)
5. Joint Life Assurance (YugalSuraksha)
6. Children Policy (BalJeevanBima)

3.2.b. SBI LIFE INSURANCE COMPANY LIMITED

SBI Life Insurance Company Limited (SBI Life) established in 2001 is a joint venture
between State Bank of India (SBI) and BNP Paribas Cardiff S.A.and is one of the
leading life Insurance companies in India. SBI has an unrivalled strength of over
22414 branches across the country making it the largest banking group in India. BNP
Paribas Cardiff S.A. is the life and property & casualty insurance arm of BNP Paribas

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one of the strongest banks in the world. SBI Life offers a comprehensive range of life
insurance and pension products. The company offers individual and group products
which include savings and protection plans to address the insurance needs of diverse
customer segments. SBI Life has a multi-channel distribution network comprising of
an expansive Bancassurance channel with SBI and agent network comprising of
108261 Insurance Advisors (IAs) as on March 31 2018. The company's other
distributions channels include direct sales and sales through corporate agents‟ brokers
insurance marketing firms and other intermediaries. As on March 31 2018 the
company had a widespread network of 825 offices across the country.SBI Life
Insurance Company Limited was incorporated as a public limited company at
Mumbai on October 11 2000 and received Certificate of Commencement of Business
from the RoC on November 20 2000. The Company is registered with the IRDAI for
carrying out business of life insurance pursuant to the registration certificate dated
March 29 2001.

3.3. PROFILE OF PRIVATE SECTOR INSURANCE POLICIES

3.3.a. ICICI PRUDENTIAL LIFE INSURANCE

ICICI Prudential Life Insurance Company Limited was incorporated on 20th July
2000 as a public limited company. The Company obtained the Certificate of
Commencement of Business on October 16 2000. The holding company is registered
with the Insurance Regulatory and Development Authority of India (IRDAI) for
carrying out the business of life insurance pursuant to the registration certificate dated

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November 24 2000. ICICI Prudential is a joint venture between ICICI Bank Limited
and Prudential Corporation Holdings Limited. It is one of the first private sector life
insurance companies in India and commenced operations in fiscal 2001. The holding
company carries on business of providing life insurance pensions and health insurance
to individuals and groups. Riders providing additional benefits are offered under some
of these products. The business is conducted in participating non-participating
variable and unit linked lines of businesses.These products are distributed through
individual agents corporate agents banks brokers and the holding company's
proprietary.

3.3.b.KARNATAKA BANK LIMITED

At Karnataka Bank, we look at Insurance as a means to the total protection of your

family and your assets. A step towards providing financial security to the family
members of Savings Bank (SB) customers, Bank has launched Group Personal
Accident Insurance Scheme in association with channel partner M/s Universal Sompo
General Insurance Co Ltd,(M/s USGICL)under the scheme name “KBL Suraksha”
which provides insurance cover for accidental death. All the Bank‟s SB account
customers between the age group of 18 to 70 years can subscribe to this scheme by
paying a nominal annual premium of Rs.200 for Rs.10 lakh & Rs.100 for Rs.5 lakh
coverage and the policy can be renewed up to the age limit of 75 years. Provision is
also available for auto renewal of the policy with appropriate mandate facility. This
novel scheme is effective from January 01, 2016.

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Bank is a Corporate Agent for M/s Universal Sompo General Insurance Co Ltd and
Master Policy Holder of the KBL Suraksha Policy. The underwriting of risk, premium
charges, and payment of claims is as per policy terms and conditions of the Insurer.
3.4 DEMOGRAPHICAL PROFILE OF RABAKAVI-BANAHATTI

3.4.a. HISTORY OF RABAKAVI-BANAHATTI

Rabakavi-Banahatti is a town situated on the bank of River Krishna. It was declared a
City by Karnataka State Govt. on 15 March 2017 and it became operational from 01-
Jan-2018. It comes under Jamkhandi subdivision. It has a city municipal council in
the Bagalkot district of the Indian state of Karnataka. It forms twin town along with
Rabakavi, Rampur and Hosur. It is a hub of the textile business for the surrounding
districts. Rabakavi-Banahatti is located about 18 km to the west of Jamkhandi
subdivision. In 1952, the municipalities of Rabakavi and Banahatti were merged into
one municipality.

3.4.b. POPULATION
The Rabakavi-Banahatti city municipal council has Population of 77,004 Males
constituted 38,918 of the population and females38,086. As per report released by
census India 2011. Population of children with age of 0-6 is 10811 which is 14.04 % of
total population of Rabakavi-Banahatti(CMC). In Rabakavi Banahatti City Municipal
Council, Female Sex Ratio is of 979 against state average of 973. Moreover, Child
Sex Ratio in Rabakavi Banahatti is around 919 compared to Karnataka state average
of 948.

3.4.c. EDUCATIONAND LITERACY

There are many schools and colleges in Rabakavi-Banahatti. Some of the famous
School and colleges are Basaveshwar Kannada Medium School, S.R.A Composite PU
College, Banahatti and Sri M V Pattan, College in Rabakavi. which is situated in
Banahatti, Konnur and Science PU College in Yallatti. Other popular schools situated
nearby are Poorna Prajna English Medium School - Rampur, Jnyanodaya English
Medium School - Rampur, Padmavati International School - Rabakavi.

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Some of the distinguished personalities who passed out from the schools and colleges
of Banahatti are Dr. Sadashivayya Jambayya Nagalotimath (20 July 1940 – 24
October 2006), an India medical scientist and writer. He also served as the Director of
Karnataka Institute of Medical Sciences, Hubli. He died on 24 October 2006 at the
KLE Society‟s Hospital at the age of 66.
Shri Bhaskar Jeevaji Koparde of Banahatti and his wife Mrs. Subhadrathai Bhaskar
Koparde participated in the freedom struggle. Shri Bhaskar J. Koparde was the editor
of the Weekly Santavani. Well-known freedom fighter and physician Dr. G D
Badchikar represented Karnataka State in All India Medical Conference at New Delhi
in the year 1968. He also attended the National conference on “Pollution control and
Plantation of trees” held in Secunderabad organized by Government of Andhra
Pradesh in 1998. Shankar Bidari has been IG and Police Commissioner in Bangalore.
Topper in XLRI – Girish Hukkeri are also from the same school.
LITERACY
Literacy rate of Rabakavi Banahatti city is 74.18 % lower than state average of
75.36 %. In Rabakavi Banahatti, Male literacy is around 82.52 % while female
literacy rate is 65.75 %. Male literacy rate is more than the Female literacy rate. As
per report released by census India 2011.

3.4.d. ECONOMY
Banahatti has a co-operative spinning mill named 'Banahatti Co-operative Spinning
Mill Ltd., Banahatti,' established in 1983-84 that operating on its own funds. It runs
all year generating jobs to many unemployed people. The main occupation of the
people in Banahatti is the manufacturing of sarees and the allied activities like saree
folding, dyeing, yarn rolling, etc. The weaving business has recently experienced a
growth larger than ever in history; sarees being produced are sent to bigger markets
like Bangalore, Dharwad, Mangalore, Gulbarga and also to Maharashtra, Tamil Nadu,
Andhra Pradesh, Kerala.

3.4.e. CLASS OF PEOPLE

Total population of Rabakavi-Banahatti is 77,004. More number of people
approximately 75% people living in middle class level, a smaller number of people

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approximately 20% people can live-in high-class level and few more peoples
approximately 1.5% people are living in low class level. Few peoples can depend on
the agriculture out of 100 there are 5 people can involve the agriculture field and that
is not for whole dependent on agriculture they as part of the business. More number of
people depends upon power-loomed and hand-loomed sarees.
3.4.f. SPECIALITY OF RABAKAVI-BANAHATTI
Rabakavi Banahatti is located about 18 km to the west of Jamkhandi subdivision. The
town area comprises four places: Rabakavi, Banahatti, Hosur and Rampur. The place
is very famous for its power-loomed and hand-loomed sarees. Rabakavi-Banahatti has
more than 22000 power looms which is one of the highest in Karnataka. The people in
the town are known for their kind, caring and hardworking nature. Banahatti has a co-
operative spinning mill named 'Banahatti Co-operative Spinning Mill Ltd., Banahatti,'
established in 1983-84 that operating on its own funds. The famous temples of the
town are Shri Mahadev temple, Danamma Devi Temple (Rabakavi), Shri Shankarling
temple, Shri Gurudeva Brahmanandam Ashram and Shri Kadasiddeshwara temple
(Banahatti). A fair is conducted every Shravan Maasa in Rabakavi and Bhadrapada
Maasa in Banahatti.

Shri Kadasiddeshwara Temple Banahatti

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Handloom machine Rabakavi-Banahatti Spinning Mill Banahatti

CHAPTER IV

DATA ANALYSIS AND

INTERPRETATION

4.1. INTRODUCTION

4.2. MEANING

4.3. IMPORTANCE OF DATA ANALYSIS

Bhagyashri Mundaganur, Dept.AND

4.4. TABLES of Studies in Commerce,
GRAPHS EACH RCU, PGC, Jamkhandi.
TABLEINFERENCES | 32
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CHAPTER-IV
DATA ANALYSIS AND INTERPRETATION

4.1. INTRODUCTIN

Data analysis and interpretation refers to the implementation of processes through

which data is reviewed for the purpose of arriving at an informed conclusion The
interpretation ofdata assigns a meaning to the information analyzed and determines its
signification and implications. In this part, we will look at the two main methods of
interpretation of data with a qualitative and a quantitative analysis.

4.2 MEANING OF DATA ANALYSIS

The process of evaluating data using analytical and logical reasoning to examine each
component of the data provided. This form of analysis is just one of the many steps
that must be completed when conducting a research experiment. Data from various
sources is gathered, reviewed, and then analyzed to form some sort of finding or
conclusion. There area variety of specific data analysis method, some of which
include data mining, text analytics, business intelligence, and data visualizations.

4.3 IMPORTANT OF DATA ANALYSIS AND INFERENCE

The importance of data interpretation is evident and this is why it needs to be done
properly. Data is very likely to arrive from multiple sources and has a tendency to
enter the analysis process with haphazard ordering Data analysis tends to be
extremely subjective, Data analysis and interpretation, regardless of method and
qualitative / quantitative status, may include the following importance:
1. Data identification and explanation
2 Comparing and contrasting of data
3. Identification of data outliers
4. Future predictions

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BANAHATTI CITY

4.5 TABLE AND GRAPHICAL REPRESENTATION

Table 1: Shows Gender participation in the study

Gender Frequency Percentage (%)

Male 49 49

Female 51 51

Total 100 100

Source: Primary Data (Field Survey) 2022.

Gender

Male
Female
49%
51%

Male Female

Interpretation:
Above table indicates that the gender participation in the study. The study conducted
during May to August 2022. 49% of the respondents are male and 51% of the
respondents are female. Female participation in the study is more due to awareness
regarding life insurance plans and policies.

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Table 2: Show age of respondents

Age group Frequency Percentage (%) Cumulative %

Below 30 years 58 58 58%

30-40 years 15 15 73

40-50 years 16 16 89

50 and above 11 11 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

AGE GROUP

120

100
100
80 89

73
60
58 58 58
40

20
15 15 16 16 11 11
0
Below 30 years 30-40 years 40-50 years 50 and above

Frequency Percentage (%) Cumulative %

Interpretation:
Above table indicates age group of respondents. Out of 100 respondents 58
respondents are below 30 years of age, 15 respondents age group is between 30 to 40,
16 respondent‟s age group is between 40 to 50 and 11 respondent‟s age is above 50.
Majority of the respondent‟s age is below 30 years why because the youth are most
cautious about the life and life insurance policies.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 36

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Table 3: Shows Educational Qualifications of the respondents

Educational Frequency Percentage (%) Cumulative %

qualification

Up to PUC 32 32 32

PUC-Degree 33 33 65

Degree – PG 26 26 91

PG and above 9 9 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

EDUCATION

9%

32%
Up to PUC
26%
PUC-Degree
Degree – PG
PG and above

33%

Interpretation:
Above is the graphical representation of educational qualification of the respondents
in the study. 32% respondents are educated up to PUC, 33% respondents are in
between PUC to Degree, 26% respondents are qualified in between Degree to PG and
only 9% respondents are educated their PG and above. PUC to Degree respondents
are more knowledge about the life insurance.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 37

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Table 4: Shows Occupational status of the respondents

Occupation Frequency Percentage (%) Cumulative %

Student 38 38 38

Government employee 4 4 42

Private employee 21 21 63

Businessmen/ professional 13 13 76

Others 24 24 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

Frequency

Businessmen/
professional
17%
Student
Private 50%
employee
28%
Government
employee
5%

Student Government employee

Private employee Businessmen/ professional

Interpretation:
Above the chart represents occupational status of the respondents in the study. 50%
respondents are the students, 17% respondents are work with our own business/
profession, 28% respondents are working as a private employee and only 5%
respondents are worked as government employees.

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Table 5: Shows Annual Income of Respondents

Annual Income Frequency Percentage (%) Cumulative (%)

Below Rs 50,000 55 55% 55%

Rs 50,000 to Rs 1,50,000 25 25% 80%

Rs 1,50,000 to Rs 3,00,000 13 13% 93%

Rs 3,00,000 and above 7 7% 100%

Total 100 100%

Source: Primary Data (Field Survey) 2022.

ANNUAL INCOME LEVEL

Rs 3,00,000 and above

Rs 1,50,000 to Rs 3,00,000

Rs 50,000 to Rs 1,50,000

Below Rs 50,000

0 10 20 30 40 50 60

Interpretation:
The table indicates Annual Income of the respondents. 55% of the respondent‟s
annual income is ₹50,000, 25% of the respondent‟s annual income is ₹ 50,000 to ₹
1,50,000, 13% of the respondent‟s annual income is ₹ 1,50,000 to ₹ 3,00,000, 7% of
the respondent‟s annual income is above ₹ 3,00,000. The study found that (55%) of
the respondents having annual income of below ₹ 50,000 thousand.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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Table 6: Shows total number of Insurance policies bought of respondents

Number of Insurance Frequency Percentage (%) Cumulative (%)

policies

One 51 51% 51%

Two 37 37% 88%

Three 2 2% 90%

Four and above 10 10% 100%

Total 100% 100%

Source: Primary Data (Field Survey) 2022.

NUMBER OF INSURANCE POLICIES

FOUR AND ABOVE

10

THREE
2

TWO
37

ONE
51

0 10 20 30 40 50 60

Frequency

Interpretation:
Above the table indicates that respondents have purchased how many numbers of
insurance policies. 51% of the respondents having only one insurance policy, 37% of
the respondents having two insurance policies, 2% of the respondents having three
insurance policies and 10% of the respondents having more than or equal to four
insurance policies. The study found that more than 50% respondents are having one
insurance policy and less than 5% respondents are having three insurance policies.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 40

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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Table 7: Shows source of life insurance information collected by the investors

Sources Frequency Percentage (%) Cumulative (%)

Social media 17 17 17

Internet 12 12 29

Official website 4 4 33

Friends and relatives 33 33 66

Agents 28 28 94

Broachers 3 3 97

Newspaper 3 3 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

SOURCE OF INFORMATION
35
30 33

25 28

20
15 17
10 12
5
4 3 3
0
Social media Internet Official Friends and Agents Broachers Newspaper
website relatives

Frequency

Interpretation:
Above table indicates the sources of information about life insurance policies. 17 % of
the respondents gets information from social media, 12% of the respondents gets
information from internet, 4% of the respondents from official website, 33% of the
respondents gets information from friends and relatives, 28 % of the respondents from
agents, 3% of the respondents gets information from broachers of concerned
insurance company and 3 % of the respondents gets information from newspaper.
Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 41
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Table 8: Shows respondents preference about kind of investment.

Investment Frequency Percentage (%) Cumulative (%) Mean SD

Short term 26 26 26

Medium term 29 29 55 2.19 .825

Long term 45 45 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

Preferance of Investment

Short term Medium term Long term

Interpretation:
Above table and graph indicates that Preference of investment behavior on investors.
More numbers of investors (45/100) are prefer the long-term investment, 29% of
investors have prefer medium term investment and 26% of investors have a short-term
investment with mean value of 2.19 and SD of .825, short term investors are these
investors able to take more risk rather than other investors.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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Table 9: Shows life insurance is better to take at younger age.

Opinion Frequency Percentage Cumulative Mean SD

(%) (%)

Strongly 11 11 11
disagree

Disagree 6 6 17

Neither agree nor 22 22 39 3.45 1.132

disagree

Agree 49 49 88

Strongly agree 12 12 100

Total 100 100

Source: Primary Data (Field Survey) 2022.

OPINION ABOUT YOUNG AGE LIP

60
50
40
30
49
20
10 22
11 60 12
0 0 0 0 0
Strongly Disagree Neither agree Agree Strongly agree
disagree nor disagree

Frequency

Interpretation:
Above table and graph represent that investors opinion about life insurance is suitable
for young age people. 49% of respondence is agree and its suitable for young age
people, 12% of respondenceis strongly agree its 100% useful to youths, and 22% of
respondence is neither agree nor disagree it means 50-50, 6% of respondence is not
suitable for youths and finally 11% of respondence response is strongly disagree these
investors can suggest to youths for not invest their money in life insurance with mean
value of 3.45 and SD of 1.132.
Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 43
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Table 10: Shows that respondence prefer their money in various sectors
Preference Frequency Percentage Cumulative Mean SD
(%) (%)
Bank deposits 40 40 40
Insurance 21 21 61
Post Office 12 12 73
Gold and silver 4 4 77
Real Estate 9 9 86 2.75 2.100
Mutual funds 7 7 93
Equity shares 3 3 96
Public provident fund 3 3 99
Bond and debentures 1 1 100
Total 100 100
Source: Primary Data (Field Survey) 2022.

Investment in different Sources

40
35
30
25
20
15
10
5
0

Frequency

Interpretation:
Above table and graph represent that every person investment decision is different so
investors can invest their money in different sources and most probably 40% of
investors can invest their money in bank deposits because they feel it is safe, 21% of
in Insurance company, 12% in post office, 4%in Gold and silver, 9% in real estate, 7%
in mutual funds, 3% in equity shares, 3%in public provident fund and only 1% in
bond and debentures with mean value of 2.75 and SD of 2.100.

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Table 11: Shows respondents opinion about life insurance policies.

Particulars Yes No Total
Freq. % Freq. % Freq. %
Respondents having life insurance policy. 82 82 18 18 100 100
Knowledge about scheme 84 84 16 16 100 100
Insurance policies investment avenue 69 69 31 31 100 100
Life insurance policies and respondents‟ 60 60 40 40 100 100
needs are matched.
Before taking it the policy,the company 86 86 14 14 100 100
provides all details about the policy.
If you buy a new policy go for LI. 70 70 30 30 100 100
Suggested to people invest money in LI 80 80 20 20 100 100
Source: Primary Data (Field Survey) 2022.

Opinion about Life Insurance

100

80

60

40

20

0
1 2 3 4 5 6 7

Yes No

Interpretation:
Above table and graph represent that opinion and common knowledge about the life
insurance. 82% of respondents having a life insurance policy, 84% of the respondents
are having knowledge about the life insurance scheme, 69% of the respondents aware
about investment avenue, 60% of the respondents needs and fulfilled by their policy,
86% of the respondents agree to company provides all details about the policy before
taking the policy, 70% of the respondents are buy a new policy go for life insurance
and 80% of the respondents are suggest to others for purchasing life insurance policy.
Out of 100% remaining respondents‟ response is negative.

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Table 12: Shows mode of payment and premium of respondents

Payment Up to ₹5,000 - ₹10,000 - ₹15,000 and

Total
and ₹5,000 ₹10,000 ₹15,000 above
Premium
Freq. % Freq. % Freq. % Freq. % Freq. %
Monthly 45 75 10 16.67 3 5 1 1.67 60 100
Quarterly 5 9.8 38 74.51 7 13.72 1 1.96 51 100
Half
21 36.2 10 1.72 24 41.38 3 5.17 58 100
yearly
Yearly 28 32.6 19 22.09 8 9.3 31 36.05 86 100
Source: Primary Data (Field Survey) 2022.

Mode of Payment and Premium

50
45
40
35
30
25
20
15
10
5
0
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5

Monthly Quarterly Half yearly Yearly

Interpretation:
Above table and graph represent the mode of payment and paid for the premium in
insurance company. 75% of the respondents are paying monthly premium of up to
₹5,000, 36.20% are paying half yearly premium, 9.80% are paying premium quarterly,
32.56% are paying premium yearly. 16.67% of the respondents are paying monthly
premium of ₹5,000 to ₹10,000, 1.72% are paying half yearly premium, 7% are paying
premium quarterly, 8% are paying premium yearly. 5% of the respondents are paying
monthly premium of ₹10,000 to ₹15,000, 41.38% are paying half yearly premium,
13.72% are paying premium quarterly, 9.30% are paying premium yearly. 1.67% of
the respondents are paying monthly premium of ₹15,000 and above, 5.17% are paying
half yearly premium, 1.96% are paying premium quarterly, 36.05% are paying
premium yearly.

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Table 13: Shows respondents preference for different kinds of policies for our family.
Type of Whole Endowment Child Pension Term
Moneyback
Policy Life Plus Policy Fund Policy
Self Freq. 81 49 28 48 64 56
% 47.37 38.58 25.69 35.56 50.79 37.09
Spouse Freq. 28 40 7 31 21 31
% 16.38 31.5 6.42 22.96 16.67 20.53
Children Freq. 26 12 74 11 14 26
% 15.2 9.45 67.89 8.15 11.11 17.22
Parents Freq. 36 26 0 45 27 38
% 21.05 20.47 0 33.33 21.43 25.16
Total Freq. 171 127 109 135 126 151
% 100 100 100 100 100 100
Mean 2.0994 2.1181 2.422 2.3926 2.0317 2.3046
SD 1.211 1.13818 0.87447 1.27605 1.21942 1.21102
Source: Primary Data (Field Survey) 2022.

Preference of type of policy

120

100

80

60

40

20

0
Whole life Endowment Child Policy Pension fund Term policy Moneyback
plus

Self Spouse Children Parents

Interpretation:
Above the table and graph represents that investors preference of different type of life
insurance policies and refer to family members. 47.37% respondence are havingwhole
life insurance prefer to self with mean value of 2.0994 and SD of 1.21100. 38.58%
respondence are having endowment plus policy prefer to self with mean value of
2.1181 and SD of 1.13818.67.89% respondence are having child policy prefer to
children with mean value of 2.4220 and SD of .87447. 33.33% respondence are
having pension fund prefer to parents with mean value of 2.3926 and SD of 1.27605.
50.79% respondence are having term policy prefer to self with mean value of 2.0317
and SD of 1.21942. 37.09% respondence are having moneyback policy prefer to self
with mean value of 2.3046 and SD of 1.21102.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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Table 14: Showsconsultation of respondents for clearing queries and doubts of LI.

Fully Not Fully

Consultant Neutral Satisfied Total Mean SD
dissatisfied satisfied satisfied

Advisor 12 7 40 29 12 100 3.22 1.133

Company
7 12 21 46 14 100 3.48 1.096
website

Customer
6 10 30 35 19 100 3.51 1.096
care

Branch
11 6 34 36 13 100 3.34 1.13
manager

Source: Primary Data (Field Survey) 2022.

Solving doubts regarding LI

50
45
40
35
30
25
20
15
10
5
0
Advisor Company website Customer care Branch manager

Fully dissatisfied Not satisfied Neutral Satisfied Fully satisfied

Interpretation:
Above table and graph indicates that what level of satisfaction solving doubts
regarding life insurance. From advisor 40% neutral, 29% satisfied, 12% fully satisfied.
From company websites 46% satisfied,21% neutral,14% fully satisfied, 12% not
satisfied. From customer care 30% neutral, 35% satisfied, 19% fully satisfied10% not
satisfied. From branch manager 34% neutral, 36% satisfied, 13% fully satisfied11%
fully dissatisfied. More number of respondence satisfied solving doubts from
company website.
Table 15: Shows satisfaction level towards services offered by LIC.

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Fully Not No Fully

Satisfied Total Mean SD
dissatisfied satisfied opinion satisfied
Post
Office
12 9 14 51 14 100 3.46 1.201
Life
Insurance
SBI Life
10 10 19 47 14 100 3.45 1.158
Insurance
Karnataka
9 5 25 47 14 100 3.52 1.087
Bank
ICICI
8 11 22 48 11 100 3.43 1.085
Bank
Source: Primary Data (Field Survey) 2022.

Satisfaction level toward servives of LI

120 120

100 100

80 80

60 60

40 40

20 20

0 0
Satisfied Not satisfied Average No opinion Total

Post Office Life Insurance SBI Life Insurance Karnataka Bank

Interpretation:
Above table and graph represents that investors satisfaction level towards services
offered by selected insurance companies. 51% of the respondents are satisfied
services offered by post office insurance with mean value of 3.46 and SD of 1.201. 47%
of the respondents are satisfied services offered by SBI life insurance with mean value
of 3.45 and SD of 1.158. 47% of the respondents are satisfied services offered by
Karnataka bank insurance with mean value of 3.52 and SD of 1.087 and 48% of the
respondents are satisfied services offered by ICICI insurance with mean value of 3.43
and SD of 1.085.
Table 17: Shows investors‟ expectations towards LIC policy.

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Expectations Agree Neutral Disagree Total Mean SD

Premium 68 27 5 100 1.37 0.58
Charges 24 65 11 100 1.87 0.58
Policy term 49 44 7 100 1.58 0.622
Bonus and
39 48 13 100 1.74 0.676
interest
Accessibility 51 39 10 100 1.59 0.668
Company image 49 47 4 100 1.55 0.575
Pre-post
45 44 11 100 1.66 0.67
services
Source: Primary Data (Field Survey) 2022.

Investors Expectation
80
70
60
50
40
30
20
10
0
Premium Charges Policy term Bonus and Accessibility Company Pre-post
interest image services

Agree Neutral Disagree

Interpretation:
Above the table and graph shows that investors expectation towards life insurance.
About premium 68% agree with mean value of 1.37 and SD of .580,about charges 65%
neutral with mean value of 1.87 and SD of .580, about policy term 49% agree with
mean value of 1.58 and SD of .622, about bonus and interest 48% neutral with mean
value of 1.74 and SD of .676, about accessibility 51% agree with mean value of 1.59
and SD of .668, about company image 49% agree with mean value of 1.55 and SD
of .575 and about pre-post service 45% agree with mean value of 1.66 and SD of ,670.
Table 16: Shows reasons for taking LIC policy of the respondents.

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Strongl
Strongl Agre Neutra Disagre Tota Mea
Reasons y SD
y agree e l e l n
disagree

Better 1.00
32 40 21 3 4 100 2.07
Service 8

0.89
Security 25 53 16 3 3 100 2.06
7

Convenienc 0.95
19 41 33 3 4 100 2.32
e 2

0.92
Trust 26 48 18 6 2 100 2.1
7

Easy terms
1.00
and 24 36 32 4 4 100 2.28
6
conditions

Less official 1.01

19 40 31 5 5 100 2.37
procedures 2

Fast
settlement 22 29 30 13 6 100 2.52 1.15
of claims

Pressure of
1.11
friends/ 25 34 22 16 3 100 2.38
7
agents

Source: Primary Data (Field Survey) 2022.

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Reasons

Pressure of friends/ agents

Fast settlement of claims

Less official procedures compared to another
sector
Easy terms and conditions

Trust

Convenience

Security

Better Service

0 20 40 60 80 100 120

Strongly agree Agree Neutral Disagree Strongly disagree

Interpretation:
Above table and graph represents the reasons for taking life insurance policy to the
point of respondents. For better service, 40% of the respondence are agree with mean
value of 2.07 and SD of 1.008, for security 53% of the respondence are agree with
mean value of 2.06 and SD of .897, for convenience 41% of the respondence are
agree with mean value of 2.32 and SD of .952, for trust 48% of the respondence are
agree with mean value of 2.10 and SD of .927, for easy terms and conditions 36% of
the respondence are agree with mean value of 2.28 and SD of 1.006, for less official
procedures 40% of the respondence are agree with mean value of 2.37 and SD of
1.012, for fast settlement of claims 29% of the respondence are agree and 22%
strongly agree with mean value of 2.52 and SD of 1.150 and lastly, pressure of
friends/ agents 34% of the respondents are agree mean value of 2.38 and SD of 1.117.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 52

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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CHAPTER Ⅴ

FINDINGS, SUGGESTIONS AND

CONCLUSION

5.1.FINDINGS

5.2. SUGGESTIONS

5.3. CONCLUSION

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5.1. FINDINGS
Based on the above calculation, Table, Graphs the followings findings are made the
study.
 The study found that majority (55%) of the respondents having annual income
of Rs. Below 50 thousand.
 Students have more Insurance policy.
 Maximum people are having average knowledge regarding the purchased Life
Insurance products. With this they are intended to secure their life.
 In spite of Privatization in Insurance sector people are more directed towards
the Government Insurance Company.
 People have more amounts invest in Bank deposit and Insurance policy.
 The satisfaction ratio of the people regarding private company is an average.
 Occupation and knowledge of the product is independent.
 The study found that majority (60%) of the respondents are not matched their
need and service offered by insurance company.
 The study found that majority of the respondents are expecting lower or
reasonable premium (68%), expects to reduce the policy term (49%), expects to
get better accessibility (51%), and expects to enhance the company image of
LIC.
 It is study that a greater number of respondents having prefer to monthly
premium up to ₹5,000.
 The study found that expects (81%) whole life insurance for self and expects to
improve service for the children, reduce the term policy and improve pension
policy for parents.
 The study found that majority (49%) of the respondents are agree to life
insurance is more useful to the young age people.
 From the result it is found that most (82%) of the respondents having life
insurance schemes for covering the risk of life. Majority of the people wanted
to cover their life by having life insurance policies from recognized insurance
companies.
 From the study it is found that majority of the respondents were getting
information about insurance schemes from friends and families. Hence,

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according to the respondents friends and families are the best, beloved and
believed sources of insurance schemes.
 From the result it is found that majority (45%) of the respondent have intended
to invest for long term duration and it clearly shows that they want safety as
well liquidity.
 Study found that most of the respondents are interested to invest in life
insurance schemes and they are influenced by the whole life insurance scheme
and larger risk coverage.
 The study found that (average 50%) of the respondents have agreed and told
that selected insurance company is performing excellent. The overall result
shows majority of the respondents have given good ratings to the services
provided by the insurance companies.
 From the result it is found that majority (46%) of the respondents contacts their
company website to get solution their queries.
 The study found that 70% of the respondents have interest to purchase the life
insurance policies for covering uncertainty in future and to accomplish future
goals and plans.
 Form the study it is found that majority (55%) of the respondents are very
happy and satisfied about the various services and premium rates offered by the
post office insurance.

5.2 SUGGESTIONS:
Based on research findings the following suggestions.
 For increasing the standard of living in the outbreak of inflation it is suggested
to teachers to improve their level of income.
 It is suggested to all the investor to have minimum knowledge about
investment, investment avenues and insurance schemes because the knowledge
of investment is essential one in the fast-moving era.
 Only few percent of the respondents were getting information from the
Newspaper, radio and customer care. Hence, it is suggested to insurance
companies to give advertising on the said modes to promote themselves faster.
 Private insurance company should improve the service.

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 As per my survey most of the people‟s need is children education so the

insurance companies must focus on products related to children education.
 Insurance company should give the proper training to the insurance agents
advisors so he/she can give the complete knowledge to customer.
 Insurance company should make more promotion on insurance in rural area.
 Some of the investors have influenced by the easy access of friends and
relatives. Hence, it is suggested investors not to purchase insurance policies
because of easy accessibility of the friends and relatives instead they should
purchase them on the basis of proper analysis.
 Insurance companies should offer more endowment policies and pension fund
risk cover policies.
 Most of the investors needs and services offered by insurance company is not
matched. So, it is suggested that LIC more focus on the customers and collect
feedback.
 Some investors are not satisfied regarding solving queries about policy. So, it is
LIC should improve communication skill to the advisor and customer care.
 Respondents are more favorable to public sector insurance companies because
they feel better service and safety. So, it is suggested that private insurance
companies should improve service provide more safety.
 Insurance investors are less that the bank deposit investors. So, it is suggested
that LIC gives more return on investment, safety and guarantee return.
 More number on investors expects the more security from the insurance
companies. Investors are less trust the insurance policies other than various
investment schemes.
 In this technological world the people should concentrate on getting
information from the websites and customer care centers.
 Few more customers are not happy with the existing services offering by the
insurance companies. Hence, it is suggested to improve their services to satisfy
and grab a greater number of customers.

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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5.3 CONCLUSION:

It has been an excellent opportunity for me to carry out the study on “A

COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY”. It has helped to a great extent to have an insight into the
practical realities of the subject. I have been able to study and suggest with to the best
of my knowledge. I try my best effort for the completion of my project study. The
study comes out with various summarized result on an awareness of life insurance
schemes among an investor with reference to Rabakavi-Banahatti city. The
Government and private Institution is becoming introduces very good life insurance
schemes to investor in India. The scenario of life insurance schemes is changing day-
by-day due to advancement in financial plans. So, it is putting continues effort to
satisfy and fulfill all the needs of investors. Now a days, life insurance schemes are
very helpful to investors, because to get tax benefits, a security at old age, earn
income, to meet contingent expenses etc. Most of the public sector institutions are
providing a good quality of services to their customers because to attract, and satisfy
the investors. Thus, research identifies many of the factors which were helped to
investors and other stakeholders of the life insurance schemes in India. Therefore,
there will be a possible other research consents are required to study in future.
Investment satisfaction of life insurance sector can be easily gauged in case of
product-generating returns and free from risk concept. The process is more
complicated incase of insurance sector, as feedback may take a longer gestation
period. Within the insurance sector, these problems for insurance companies are much
more intricate because of the innate nature and in some cases because of the long-term
nature of contracts. Therefore it is concluded, “investors satisfaction is the true fuel of
the free enterprise system. In a free investment environment amid liberalized
economy, traditional indicators of success, such as investment plans and market share
growth, are only indicators of a company‟s level of investor‟s satisfaction.”
Henceforth the environment will become more competitive and sensitive to the
demands of the investment arena. The investors will become the driving force and the
companies will have to identify the central role of investors in their decision-making
and business planning to provide utmost satisfaction to their investors.

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BIBLIOGRAPHY

1. Mr. Mitul Deliya, Mr. Bhavesh Parmar, Mr. Bhagvan Karnavat (March-2012),
“Investment Pattern of Investors in Insurance Companies”, ISSN: 2249-5908,
Issue2, Vol. 2, Page No. 181.
2. Dr. Karthik Mohandos, Dr. M. Balamurugan (April-June 2013), “A Study on
Performance of Insurance Industry in India”, Issue. 1, Vol. 1, Page No. 73.
3. Dr. C Kalpana Naidu Dr. C Paramasivan, (2015) “A Comparative Study of Public
& Private Life Insurance Companies in India”, ISSN: 2395_1885, 2395_1877,
Vol. 1, Issue. 7.
4. Dr. V. Balaji, Dr K Anbazhagan, (Nov-2019) “Factors Influencing Investors‟
Investment Behavior Towards Life Insurance Policies” ISSN: 0731-6755, Vol. 12,
Issue 11.
5. Babita Yadav, (2012) “A Study on Factors Affecting Customers Investment
Towards Life Insurance Policies” ISSN: 2277 3622. Vol.1 Issue 7, Page No.106-
123.
6. Sandeep Deshmukh, (2018), “Customers Perception for Taking Life Insurance: A
Critical Analysis of Life Insurance Sector in Nagpur” ISSN: 2319-1422, Vol. 7,
Issue 3.
7. Damodar Basaula, (2017) “Customers Satisfaction Towards Life Insurance Claim
Settlement in Nepal” Vol. 6. Page No. 29-44.
8. Padmaja, (2018), “A Study on Investors Perception Towards LIC With Special
Reference To LIC, Machilipatnam”, E-ISSN: 2278-487X, P-ISSN: 2319-7668.
Vol. 20, Issue 3, Page No. 48-53.
9. Subashini (2016), “A Study on Investors Perception on Life Insurance with
Special Reference to Max Life Insurance Private Limited” ISSN 2349-6010, Vol.
2, Issue 11,
10. P. B. Ashturkar. (2014), “Corporate Study of Effectiveness of Claim Settlement
Operations in India Life Insurance Companies” ISSN 2321-7782, Vol. 2 Issue. 11
Page No.148-155.
11. Kalani, Salunkhe And Ahirrao (2013) “Comparative Study of Claim Settlement
Ratio of LIC With Other Insurance Companies in India”, ISSN: 2249-555x, Vol. 3,
Issue. 5, Page No. 389-391.

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 58

 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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BANAHATTI CITY

12. Yadav And Mohania (2013) “Claim Settlement of Life Insurance Policies in
Insurance Services with Special Reference of Life Insurance Corporation of India”,
ISSN: 2320-9836, Vol. 1, Issue. 1, Page No.29-37.
13. Dr. K. Navarathinam (2016), “A Study on Impact of Demographic Factors on Life
Insurance Demand with Reference to Madurai District”, ISSN. 2321 – 4643, Vol.
4, Issue. 1, Page no. 107-113.
14. Dr. Bidyut Jyoti Bhattacharjee (2014), “Buying Behavior of Investors of Small
Towns with Respect to Life Insurance Policies: A Study on Barpeta District of
Assam”, Vol.1, Issue.6, Page no. 39-45.
15. Dr. Jitendra Kumar (2017), “Selection Factors of Private or Public Sector
Companies: A Study of Life Insurance Sector in India, ISSN. 0972-1479(Print),
2395-6127 (Online) Vol. 11, Issue. 2, Page no. 83-88.
16. Amthul Thawab M (2019), “A Comparative Study of Investors Perception
Towards Purchasing Life Policies at LIC and Private Insurance Companies at
Chennai”, Ph. D Thesis.
17. Rao, K Nagaraja (2012), “Study of rural insurance market in India with special
reference to life insurance”, Ph. D Thesis.
18. Websites
www.wikipedia.com
www.slideshare.com
www.shodaganga.com
www.researchgate.com
www.academia.edu.in

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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QUESTIONNAIRE

Dear Respondent,
I‟mBhagyashri Mundaganur Student of M.com Ⅳ Sem. Rani Channamma
University Belagavi, Post-Graduate Centre Jamkhandi. I‟m doing project on the topic
of “A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC
AND PRIVATE LIFE INSURANCE POLICY; A CASE STUDY ON RABAKAVI-
BANAHATTI CITY”. I request you to fill the questionnaire and provide information
about research topic. I assure you that this information will be used for academic and
kept confidential. It will be used exclusively for research purpose.
Yours faithfully
GENERAL PROFILE
1. Name of the respondent: ____________________________________________
2. Gender a) Male b) Female
3. Age group a)Below b) 30-40 years c) 40-50 d) 50 and above
30 years years
4. Marital status a) Married b) Unmarried
5. Educational a)Up to b)PUC- c) Degree d) PG and above
qualification PUC Degree – PG
6. Occupation a)Student b)Government c)Private d)Businessmen e)Other
employee employee / professional s
7. Annual a) Below b) 50,000 - c) 1,50,000 - d) 3,00,000 and
income 50,000 1,50,000 3,00,000 above
8 Family size a) 1-5 b) 6-10 c) 10-15 d) 15 and above
members members members
SPECIFIC PROFILE
1) Total number of policies bought.
a) One [] b) Two [] c) Three [ ] d) Four and above []

2) What is your source of information about the life insurance policy?

a) Social media [ ] b) Internet [] c) Official website []
d) Agents [ ] e) Broachers [] f) Newspaper []

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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g) Customer care [ ] h) Friends & Relatives [] i) TV & Radio []

3) What kind of investment do you prefer.
a) Short term [ ] b) Medium term [] c) Long term []

4) What level of risk is you undertake for your investment avenues?

a) Less risk [ ] b) Moderate risk [] c) High risk []

5) It is better to take a life insurance policy at a younger age.

a) Strongly agree [] b) Disagree [] c) Neutral []
d) Agree [] e) Strongly agree []

6) Do you prefer to invest your money in an Insurance company or in another sector?

a) Bank deposit [] b) Insurance [] c) Post-Office []
d) Gold & Silver [ ] e) Real estate [] f) Mutual fund []
i)Public
ProvidentFund
g) Equity share [] h)Bonds & Debentures [] (PPF) []

7) What is your opinion about life insurance policies?

Particulars Yes No
Do you have life insurance policy?
Did you know the scheme?
Did you know investment avenue?
Your policies and you‟re your needs are matching?
The company provides all details about the policy before taking it
If you buy a new policy would you like to go for life insurance
Have you suggested any people to invest in life insurance

8) Mode of payment and premium.

Up to 5,000 5,000-10,000 10,000-15,000 15,000 and above
Monthly
Quarterly

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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Half yearly
Yearly

9) What type of policy you have? Whether to you or your family?

Self Spouse Children Parents
Whole life
Endowment plus
Child Policy
Pension fund
Term policy
Moneyback

10) Consultation of respondents for clearing queries and doubts regarding insurance.
Fully Notsatisfied Neutral Satisfied Fully
dissatisfied satisfied
Advisor
Company website
Customer care
Branch manager

11) Are you satisfied with premium rates given by the insurance company?
Satisfied Not satisfied Average No opinion
Post Office Life Insurance
SBI Life Insurance
Karnataka Bank
ICICI Bank
Others

12) Satisfaction level towards services offered by selected insurance companies.

Fully Not No Satisfied Fully
dissatisfied satisfied opinion satisfied

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 A COMPREHENSIVE STUDY ON INVESTORS BEHAVIOR ON PUBLIC AND
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BANAHATTI CITY

Post Office Life Insurance

SBI Life Insurance
Karnataka Bank
ICICI Bank

13) Reasons for taking LIC policy.

Strongly Agree Neutral Disagree Strongly
agree disagree
Better Service
Security
Convenience
Trust
Easy terms and conditions
Less official procedures compared
to another sector
Fast settlement of claims
Pressure of friends/ agents

14) Investors expectations towards LIC policy.

Expectations Agree Neutral Disagree
Premium
Charges
Policy term
Bonus and interest
Accessibility
Company Image
Pre-post service

15) Do you have any suggestions to improve the working of the company?
a) Yes (specify) …………………………………………… b) No []

Bhagyashri Mundaganur, Dept. of Studies in Commerce, RCU, PGC, Jamkhandi. | 63