Impact of socio-economic factors on policyholders’ buying behaviour towards insurance policies

Insurance is basically a tool which provides financial assistance against unforeseen events and uncertainties. The purpose of making investment in insurance for every individual might be differ, so insurance companies are interested to know about the pattern taking insurance policies of policyholders in order to design their marketing strategies, which help the insurance companies to attract the investors and also to retain the investors. Online policy purchase is a new trend which makes players of insurance companies more focused in their business. The present paper aims to examine the perceptions of investors making investment decisions regarding the insurance products. It is an attempt to know the buying behavior of the investors related to insurance and also problems faced by the investors. 100 investors of Varanasi district were taken as sample in the study. The present research paper assesses the impact of demographic factors of investors like age, genders, education, income, category, occupation, etc. for knowing about the buying behavioural pattern of the investors. The study disclosed that the demographic factors of investors playing a crucial role at the time of making investment decisions.