Perception of Policy Holders Towards Life Insurance Corporation Scheme in Salem City

Abstract

India's agricultural population struggles to save money due to low earnings. Investors prioritize immediate needs over saving for the future. Life insurance is actually an agreement between the insured and the insurer, in which the policyholder accepts to pay the insurer a regular premium. In return, the insurer provides monetary protection to the insured in the event of any accident or mishap. This study investigates policyholders' Economic development with the Life Insurance Corporation's financial expansion in Thanjavur City. This study identifies policyholder’s economic growth and their impact in LIC programs, highlighting the importance of the insurance sector in modern economies for saving habits and protection. Data was collected through a questionnaire and practical sampling strategy with 200 participants.