Challenges Faced By Prospective Policy Holders To Select The Life Insurance Products With Special Reference To Chengalpattu District

Life insurance, a vital financial tool, is often approached with apprehension due to the complexity of policies, lack of adequate knowledge, and the influence of misleading marketing tactics. The research was conducted using both primary and secondary data to provide a comprehensive understanding of the issues at hand. Primary data was collected through a structured questionnaire administered to 218 respondents, representing a diverse demographic within the Chengalpattu District. Secondary data was sourced from various published reports, journals, and credible online resources to supplement and validate the primary findings. The study examines key factors that contribute to decision-making difficulties, such as the overwhelming variety of policies, the lack of clarity in policy terms, high premium costs, and distrust towards insurance agents. It also addresses the impact of socio-economic factors like income, education level, and occupation on policyholder decisions. By identifying these challenges, the study aims to offer insights for insurance companies to streamline their communication, improve policy transparency, and provide better customer support, thereby enhancing customer confidence in life insurance products. The findings will help insurance providers to tailor their products and services more effectively to meet the needs and expectations of potential customers in the region.