Attitude of uninsured households towards life insurance: A case study

This paper deals with measuring the factors of uninsured respondents. The study is made in urban and rural areas of Krishna District in Andhra Pradesh. The data was collected based on the factors that are influencing uninsured, i.e. types of insurance, level of awareness, sources of information, etc. The source of knowing about life insurance is friends and relatives in both urban and rural areas. There is a difference between life and general insurance in both urban and rural areas according to their response. After contacting with insurance agent majority of the urban and rural uninsured respondents identified the benefits of life insurance. The main benefits identified by the urban uninsured are -family security and protection to life and rural uninsured are -family security and savings. Due to some constraint such as low income and financial problems the urban and rural uninsured respondents are not becoming insured. Making life insurance compulsory is agreed by the most of the respondents in urban and rural areas. The reasons identified by making compulsory life insurance in urban area are -security for the dependents and future protection and in rural area is security for dependents alone.