Nandana TK Report

Similarity Report
PAPER NAME AUTHOR
ANALYSING THE PERCEPTION OF TEAC Kezia Alice Kurian Thara Rajan

HERS TOWARDS LIFE INSURANCE AND Nandana TK
OTHER TYPE OF INVESTMENT OPTIONS
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11931 Words 65390 Characters
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60 Pages 746.5KB
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Apr 3, 2024 11:45 PM GMT+5:30 Apr 3, 2024 11:45 PM GMT+5:30
16% Overall Similarity

The combined total of all matches, including overlapping sources, for each database.
11% Internet database 2% Publications database
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12% Submitted Works database
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Bibliographic material Quoted material
Cited material Small Matches (Less then 8 words)
Summary
A COMPARITIVE AND PERCEPTIONAL ANALYSIS ON LIFE
INSURANCE ANDVARIOUS INVESTMENT OPTIONS AMONG
AIDED SCHOOL TEACHERS IN KOTTAYAM DISTRICT
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CHAPTER 1: INTRODUCTION
1.1 INTRODUCTION
In one's life, money is essential. To overcome upcoming uncertainty, investments will need to
be undertaken. A promise of savings from present income with the expectation of a future return
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is called an investment. In other words, the use of funds for the purpose of generating income
or capital appreciation is known as investing. A certain amount of risk is associated with most
of all, investments. Examples of these include equities, real estate, and even fixed-income
assets, which are liable to currency risk.
Current spending is foregone during the investing phase in order to generate a profit later on.
Individuals who own savings engage in the practice of investing. Numerous characteristics,
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including wealth, education, employment, and income, might have an impact on an individual's
saving behavior. Various investment options are government savings plans, life insurance, bank
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and post office deposits, securities, money market instruments, real estate, and more. Savings
are always invested with a range of goals in mind, including income stabilization, safety, and
profit. Several factors influence the choice of investments. Generally, where there is greater
risk, greater returns are assured. Risk and reward go hand in hand. Investing is the key to
achieving your goals. It's the best way to improve your future. Investing consistently and
forcing consistently to save accumulated funds helps to provide long-term financial discipline.
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A written contract that provides protection against future loss is called insurance. A life
insurance policy is essentially an agreement between a policyholder and an insurance company,
whereby the latter agrees to make periodic payments to the policyholder's beneficiary or family
in exchange for a certain sum of money. The risk coverage and offers are provided by the life
insurance policy. Additionally, it's a useful tool for helping clients save money for potential
33
future expenses like marriage of children or for higher studies. There are numerous varieties of
life insurance available to suit a wide range of requirements. An individual may choose to
obtain insurance based on their short- or long-term needs.
28
These days, insurance plays a crucial role in every human existence. There are two types of
insurance: non-life and life insurance. A person’s life can be insured by life insurance, and the
insured will get definite compensation from the insurance provider. Non-life insurance assists
the insured—whether an individual or a business—by offering financial support to help them
get through their losses. There is a constant desire to reduce the risks and offer defense against
potential losses. Investment provides protection against risk, but does not eliminate risks
including mortality, illness, accidents, burglary, and property damage from fire or water. Any
risk can be covered at a price that reflects the level of risk. Therefore, insurance serves as a tool
to lessen the negative consequences that these risks may have on the insured party.
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1.2 STATEMENT OF THE PROBLEM
The purpose of the study is to investigate the perception of teachers in Kottayam district
regarding investing in life insurance and other alternative investment options. Education
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professionals play a vital role in shaping the future, and their financial well-being is crucial for
a stable and secure future. While teachers dedicate their careers to enriching the lives of
students, there is a need for research exploring their perspectives on financial planning,
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particularly in relation to life insurance and alternative investment options. This research aims
to address the following key questions:
• What are the current levels of awareness among teachers in Kottayam district
regarding life insurance and alternative investment options?
• What factors influence the perception of teachers of Kottayam district towards
investing in life insurance and alternative investment options?
• To what extent do teachers engage in financial planning, and what are the
primary motivations or barriers they encounter?
• Are there variations in perspectives based on factors such as age, experience,
educational background, or geographical location?
13
• How do teachers perceive the importance of life insurance in their overall
financial planning?
13
By addressing these questions, the research aims to provide valuable insights into the financial
literacy and decision-making processes of teachers, contributing to a better understanding of
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their unique financial needs and preferences. The outcomes of this study can inform
policymakers, financial institutions, and educational institutions in developing strategies to
enhance the financial literacy of educators.
1.3 SCOPE OF THE STUDY

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Life insurance provides financial protection for loved ones in case of the policyholder's death,
acting as a long-term savings tool. It can be a strategic element in estate planning, helping to
pass on assets with tax advantages. Life insurance offers flexibility, catering to diverse financial
needs and goals. It can also be used to supplement retirement income or provide funds for
emergencies during their lifetime. It can also be used in business planning to protect against
financial losses due to the death of key personnel. Ultimately, life insurance offers peace of
mind, ensuring immediate and future financial security for individuals and their families.
Investing in alternative options like stocks, bonds, and mutual funds offers opportunities for
capital growth and income generation. Research on teachers' investment preferences offers
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insights into their unique financial considerations and decision-making processes. This
research can contribute to the development of targeted financial literacy programs, policies,
and investment options that better cater to the needs and preferences of educators, fostering
improved financial well-being within the teaching community.
1.4 OBJECTIVES
1.To analyze the demographic characteristics and their relationship with insurance investment
behavior.
2.To evaluate teachers’ awareness and knowledge about life insurance and other investment
options.
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3.To identify the factors influencing teacher's decision to invest in life insurance and various
investment options.
4.To analyze the type of life insurance policies and other investment options preferred by the
teachers.
1.5 RESEARCH METHODOLOGY

12
In the light of the above-stated objectives the following methodology has been followed. The
study is basically a descriptive and analytical one. Both primary and secondary data have been
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used for the study. But the study is mainly based on the primary data collected from teachers
4
of Kottayam district for this purpose. In the first stage, a review of available literature was done
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to get familiar with all the aspects of the study.
POPULATION
The population identified for the study was aided teachers up to the age of 60 years in Kottayam
district.
SOURCES OF DATA
14
The methodology adopted in the research includes both Primary and Secondary data. Primary
data was collected through a structured questionnaire from the aided teachers in Kottayam
14
District and the Secondary data was collected from newspaper, websites, and other published
sources.
SAMPLE SIZE
A Sample of 100 aided teachers from Kottayam district where selected.
METHOD OF SAMPLING
The samples required for the study were selected from the population through snowball
sampling.
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1.6 LIMITATIONS OF THE STUDY
1. The study may have all the inherited limitations of a sample study.
2. Some respondents are not very interested in giving genuine information.
3. Due to the constraint of time and money the study could not be made in detail.
4. Less chances of meeting respondents face to face because of usage of online platforms as a
means to communicate and gather results in limited time.
1.7 CHAPTER SCHEME

7
The study is divided into 5 chapters as follows.
CHAPTER 1 INTRODUCTION
CHAPTER 2 LITERATURE REVIEW
CHAPTER 3 THEORETICAL FRAMEWORK
CHAPTER 4 DATA ANALYSIS AND INTERPRETATIONS
CHAPTER 5 SUMMARY OF FINDINGS, CONCLUSION AND SUGGESTIONS

CHAPTER 2: LITERATURE REVIEW
LITERATURE REVIEW
2.1 D.Umamaheswari and K. Suganthi (2015), did a study with the goal to ascertain how
school teachers' investing and savings habits related to one another. It was conducted on
several teachers from public and private schools. For upcoming needs, the teachers have been
saving. The educational community is beginning to understand the value of money these
days. The suggested budget does not consider any attractive or trendy items when comparing
the actual costs borne by teachers. According to the report, most teachers save their money in
LIC, post office deposits, bank accounts, and gold.
2.2 Ganesan, S. Namasivayam, and Rajendran (2006) investigated the socioeconomic

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factors influencing the purchase of life insurance policies and discovered that while
policyholder characteristics like age, sex, and educational attainment were unimportant,
elements like income, employment, and family significantly influenced preference for
company policies.
2.3 N. Namasivayam, S. Rajendra, and R. Eswaran (2007) investigate how socioeconomic

characteristics affect policyholders' perceptions of SBI life insurance plans. The results show
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that policyholders' preferences were considerably influenced by factors like age, gender,
occupation, family structure, and income levels. On the other hand, it was shown that variables
such as marital status, caste, and educational achievement had no appreciable effect on
policyholder preferences.
18
2.4 Bhardwaj Rajesh, Raheja Rekha, and Priyanka (2011) analyze the income and savings
patterns of senior secondary school teachers employed by the government and private schools.
According to the report, bank accounts and life insurance are frequently used by both public
and private educators for their investments. Notably, when compared to their private
counterparts, teachers in government schools frequently receive extra advantages. While
private teachers prioritize their money for their children's education, government teachers
prioritize emergencies and security while making financial plans.
13
2.5 Uma, Selvanayaki, and Shankar (2011): A survey was carried out on life insurance
customers' awareness, perception, and preference. The survey was based on the replies of 100
life insurance policyholders in Coimbatore. The research explores consumer awareness,
perception, and preference in relation to life insurance. The primary goals are to determine
what factors influence policy choices, investigate customer preferences for various life
insurance policies, and gauge consumer awareness of various life insurance brands.
2.6 Muthukumar and Rajesh (2014): According to the study, life insurance plays a significant
part in people's lives as well as in society. Customers make investment selections in life
insurance based on a variety of variables. Investors generally have a positive impression of life
insurance, according to Tati & Baltazar (2018). Most consumers believe that insurance is a
more cost-effective option for tax savings than risk mitigation and ought to be a diverse
investment choice.
2.7 Thulasipriya (2015), The study on government employees' investment preferences across
a range of investment opportunities was carried out by Thulasipriya. The employees continue
to favor investing in financial items that yield returns free of danger.
24
2.8 Dr. Anathapadhmanabha Achar (2012): The study concentrated on the investing and
savings habits of teachers in the Karnataka State district of Udupi, who teach in elementary,
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high school, college, and university levels. The population's savings and investment habits are
influenced by factors like age, gender, marital status, and way of life.
2.9 Bernheim & Garrett (1996); Diamond &Hausman (1984); Solomon (1975):Even after
taking into account a number of control variables, a number of studies show that saving rates
rise with education. Additionally, Solmon discovered that saving intentions changed with
knowledge. Individuals with higher levels of education stated their intention to help children
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establish houses and fund their children's education, but those with lower levels of education
were more likely to save primarily for emergencies. Solomon says that education may change
an individual's tastes because educated people seem to have larger time horizons.
2.10 Krech et al. (1962); Katz and Lazarfeld, 1955). The investing behavior of households
is greatly influenced by the attitudes and beliefs of investors. Relationships with reference
groups and prior learning experiences both influence these attitudes. Perceptions and
investment behavior are influenced by personality factors. Research indicates that face-to-face
gatherings where informal personal guidance is given out perform mass media advertising.
Prospective investors are greatly influenced by "word of mouth advertising" by competent
members of their reference group, particularly when it comes to choosing or altering
investment habits.
25
2.11 Dr. Varsha Virani (2012) proposed in her study on the savings and investment model of
Gujarati school teachers, which used data gathered from 100 teachers, that a significant portion
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of the teachers prefer to save money in the form of bank deposits and government securities.
2.12 Puttaswamy and Paramashivaiah (2014): To better understand women investors'

willingness to take risks, Puttaswamy and Paramashivaiah published an essay titled
"Changing risk perception of women investors: an empirical study." The regression model
indicated that women's age had a negative impact on their risk tolerance, which was consistent
with numerous other studies. The results were determined to be significant at the five percent
level, and the only factors that positively impacted women's risk tolerance levels were age and
education.
2.13 Kripa M. Das and Rajesh T. (2020) Did a study on the topic "A study on investment
pattern of women college teachers working in arts and science colleges with special
reference to Thiruvananthapuram District". The study examined the savings patterns of
female investors and concluded that while there were many investment schemes accessible,
most of them were only interested in traditional investment routes. Investors choose their
investment options based on their level of experience with different investment routes, their
tolerance for risk, and their investment goals.
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2.14 Abraham, M.K., and Lokesh, J. (2019): The results of this study have amply
demonstrated the importance of saving money. It offers solace and expands the range of options
for decisions that greatly affect teachers' quality of life. Consequently, the recipe for achieving
financial success and prosperity in life consists of a blend of diligence, prudent decisions on
investments and saving.
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2.15 Harshvardhan N. Bhavsar (2013): Did a study were the savings and investment habits
of government and private school teachers were examined. He found a strong relationship
3
between the two. The teaching community has come to understand the importance of money,
which has led them to budget for anticipated costs rather than giving in to enticing ones.
According to the study's findings, bank deposits are the most popular way for teachers to invest
their money, with many of them going for their kids' college tuition, marriage, and other welfare
costs.
2.16 Maheswari (2016) reveals in her study that most of the respondent’s earning capacity is
less, even if they earned more, they distributed only minimum portion of their income to saving.
3
The number of respondents invested in the form of financial assets is high, but the amount
invested in financial assets is less. Respondents are selected only from rural area having low
income, less education, not well employed and they contributed to bank deposit, post office
and life insurance and not to mutual fund, shares, debenture, bonds and lack of awareness on
new schemes and opportunities in financial assets leads to reduce the investments in higher risk
financial assets.
2.17 Hood Nofsinger and Varma (2014) investigate the factors influencing socially conscious
investors' investment choices. The investor believes that individual investors' stocks ought to
reflect their social and moral principles.
2.18Drs. S Mathivannan and Selvakumar (2011) In the Sivakasi area of Tamil Nadu,
schoolteachers’ saving, and investment habits were investigated. The study's conclusions imply
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that the teaching community is now aware of the value of effective money management,
stressing the need for budgeting to keep costs under control and prevent the effects of impulsive
and fashionable spending.
2.19 Sin & Chee (2017): In their study, they examined the vital variables affecting life
insurance ownership in Malaysia, showing that demographic variables offer a more thorough
insight than psychographic variables. They found that while psychographic elements like trust,
personal value, and risk attitude are important, demographics account for a larger portion of
the variation in life insurance ownership.
2.20 Dr. K. Selvavinayagam & Usha Lakshmi (2019) examines the investment practices of
Dharmapuri District college teachers at both private and public universities. Researchers
discovered that paid class college lecturers from both public and private universities prioritize
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safety when making investments. This behavior was brought on by a lack of knowledge of the
grievance procedure that is accessible in the event of problems, as well as a lack of financial
literacy. Most of them typically invest in gold, real estate, insurance, and secured fixed or
recurring bank deposits.
2.21 Justin P. James and Anjali Mathew (2021): The primary factors influencing how
consumers view life insurance are policyholder satisfaction, service quality, and awareness
levels. This study, which was limited to Mavelikara Taluk, aims to assess how consumers see
life insurance products in relation to the services provided by LIC. According to this study, life
insurance products offer the general people a great way to invest and raise their threshold for
developing a habit of saving money.
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2.22 Shenday B.K. and Neelkant Rao (2010) contended in their study "Trends in the
insurance industry in India since the 21st century" that the insurance sector's privatization has
resulted in notable expansion, ending LIC's monopoly. Since the industry was liberalized, the
total premium for life insurance has grown. They also pointed out that in order to increase the
number of policyholders, life insurers continuously prioritize product innovation and launch
new initiatives.
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2.23 Alok Mittal and Akash Kumar (2003): The goal of the study "An Exploratory study
of factors affecting selection of life insurance products" was to determine and evaluate the
factors influencing customers' decisions about life insurance products. According to the
research, while choosing a life insurance plan, buyers prioritize criteria such product features,
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customer satisfaction, payment mode, product flexibility, risk coverage, grace period,
professional guidance, and maturity period. Notably, the study discovered that while mature
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duration was thought to be the least important element in decision making, product features
were ranked highest in relevance.
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2.24," P. Amarjothi and E. Velmurugan (2020): In their research work "A Study on Savings
and Investment Pattern of Assistant Professors of Self-finance Colleges in Theni
District,", made the claim that prudent investing and saving are essential to every human life.
Investments made by individual investors are supported financially and by advantages. For
their investments, they require security and dependability. Colleges that self-finance require
assistant professors to save money and invest it in a safer environment. They also require
consistent revenue from their lower-risk investments. They also disclosed that bank savings
were thought to be the primary investment option, and most assistant professors are regarded
as safe choices when it comes to saving.
2.25 Ferrer (2017), according to him teachers' investing behavior is impacted by their lack of
financial literacy and their comprehension of the grievance system. Many of them support
investing in gold, real estate, insurance, and secured fixed or recurring bank deposits. Stock
market investors are among the few people with financial market knowledge who do not
employ other investment vehicles.
2.26 Acedillo (2018), according to Acedillo 85% of public elementary teachers employed by
the DepEd have unfavorable investment habits. According to the survey, educators don't fully
comprehend the value of investment or the link between personal financial stability and
entrepreneurial growth. Teachers' investment habits are often quite low, which suggests little
involvement or interest.
2.27 G. Usha Sree's 2017 A link was observed between saving determinants and real
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investment decisions in the study on the savings and investing habits of teachers in Warangal
District. Interestingly, teachers' knowledge of the stock market was notably low, leading them
to favor safer investments over stocks, such as gold, bank savings, and post office schemes.
According to the report, bank deposits are preferred by elementary and high school instructors
who prefer low-risk, low-return investments. Despite this, the survey found that people's ability
to save money has generally improved, and their knowledge of available investment options
has grown. The author proposes that anyone, especially teachers, can increase their savings
even more by doing a more thorough study of risk-return portfolios.
2.28 Srividhya and Visalakshi (2013): In their essay "Nest egg (savings) and venture
investment pattern of college teachers –a study (Puducherry and Tamilnadu state)," they used
a strategy based on economic analysis and its overall usage. Most respondents to the study
believed that deposits were the greatest option for investing, and it was beneficial to control
the uncertain future. They believe that savings in various forms provide peace of mind for the
other family members considering the uncertain future.
2.29 Murithi Suriya (2012), According to the study most investors weigh the opinions of two
or more sources when making decisions on their investments. Before deciding on an
investment, the investors consult with their friends and relatives.
2.30 Casabuena et al. (2017), According to him not everyone who invests does so successfully,
even though gaining money is the primary motivation. Those that lost money handled their
finances ineffectively and irrationally, opting instead to act mindlessly. Educators possess
intelligence and know how to get the most out of their investments. Even with their high IQs
and educational backgrounds, teachers usually handle money poorly.
CHAPTER 3: THEORITICAL FRAMEWORK
1
3.1 INTRODUCTION
This chapter deals with the concepts, ideas and other matters that serve as a foundation for
research analysis.
3.2 MEANING
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Insurance is a crucial aspect of human existence, providing protection against future loss.
There are two types of insurance: non-life and life. Life insurance covers a person's life,
providing definite compensation from the insurance provider. Non-life insurance offers
financial support to help individuals or businesses through their losses, while life insurance
provides protection against risks such as mortality, illness, accidents, burglary, and property
damage.
Life insurance policies can be divided into terms, whole, and endowment insurance. Term
8
insurance offers coverage for a specific time frame, with claims settled if the insured passes
away within the policy's term. Whole life insurance offers lifetime protection with a lump sum
death benefit, with cash value added. Endowment strategies develop currency values and
feature a saving component, giving rise to claims upon maturity or death.
8
Life insurance is a long-term agreement that satisfies all legal requirements between the
insured and the insurer. The insurance provider consents to pay the agreed-upon amount upon
8
the insured's death or policy maturity, whichever comes first. The insured is required to pay the
premium amount on a regular basis until the insured passes away or the policy's term expires.
Life insurance is an assurance contract, exempt from subrogation and contribution rules. By
combining insurance with investment in the form of an endowment feature, life insurance
policies serve two purposes: the insurance company does not retain the authority to cancel life
insurance policies, and the premium for any active plans cannot be altered by the insurance
company.
3.3 NEED FOR INVESTMENT
• Increased life expectancy: has made investing decisions more important, as most
9
Indians retire between the ages of 55 and 60. The tendency also indicates a longer life
expectancy. Therefore, the wages from employment ought to be determined so that
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some amount is set aside for savings. Savings must be invested such that the principal
and income will be sufficient for a longer period of retirement years; savings by
themselves do not generate wealth.
• Raising Tax Rates: One of the most important elements in any nation that forces people
9
to save more money is taxes. Tax benefits can be obtained by investing in life insurance,
national savings certificates, development bonds, post office cumulative deposit plans,
unit trust certificates, and unit linked certificates, among other products.
• Inflation: Over the past ten years, inflation has become a persistent issue.These days,
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when costs rise, a declining standard of life is accompanied by a number of issues. In
order to make the best investment decision, the deterioration of the resources must be
properly evaluated before monies are invested.
• Interest rates: The interest rates associated with different investments differ. These
could differ between safe and risky investments, as well as depending on the various
benefit packages that the investments provide. Prior to assigning the amount, these
factors need to be considered.
• Income: The overall rise in employment prospects in India is another factor
contributing to the importance placed on investment decisions. Following
independence, several new organizations and services emerged in line with the nation's
developmental stages. Male and female workers are produced by the employment
options. Working people are now able and willing to save and invest their money since
they have higher wages and more investment options.
• Investment Channels: To gain from both, the investor must attempt to strike the right
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balance between a high rate of return and a stable return on his chosen investments.
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Corporate stock, provident funds, life insurance, corporate fixed deposits, unit trust
schemes, and other products are among the instruments that are accessible.
3.4 WHY INVEST IN LIFE INSURANCE?
• Security and safety are provided by insurance: Insurance guards against loss in
the event of a specific incident. When a life insurance policy expires or a death
occurs, the policy payment is made. When it comes to fire insurance, the insured's
property is protected from fire damage. To put it briefly, insurance offers protection
against property damage or destruction, fire, loss of earnings upon death or old age,
and other risks.
• Insurance provides peace of mind: by eliminating anxiety and uncertainty about
any circumstances that could irritate or impair human reason.
• Insurance protects mortgaged property: Mortgaged property is defined as real
estate on which the owner has taken out a loan from a lender using the property as
security. Insurance safeguards the mortgaged property by ensuring that the lender
receives enough if the property is destroyed for uncontrollable reasons.
• Insurance removes dependency: There are numerous ways in which insurance
removes dependency. For instance, life insurance safeguards a family's financial
stability if the breadwinner passes away or becomes disabled. There are insurance
plans designed to support a policyholder's child's marriage and schooling. Plans for
old age insurance assist the insured in receiving a set monthly income as they age.
• Life insurance encouraged saving: Savings are encouraged by life insurance since
many policies include both insurance and savings. Because regular premium
payments at regular intervals are required to maintain the insurance coverage in
effect, it encourages methodical saving. Furthermore, the paid premiums are non-
refundable prior to the insurance policy's expiration.
• A person's needs are met by life insurance: needs related to family, old age, re-
adjustment (needed when income is reduced because of unemployment, disability,
or death), and specific needs like the need for education and child marriage are all
met.
3.5 BENEFITS OF INVESTMENT
Increasing returns over time and wealth accumulation are two benefits of investing. Investment
reduces risk and increases a portfolio's flexibility. Regular income from some investments helps
maintain financial security. By acting as a safeguard against inflation, it maintains buying
power. Certain investment vehicles have tax advantages that can maximize diversification
returns and lower tax obligations. Long-term financial objectives including home ownership,
education, and retirement preparation are supported by investing. Investing offers possibilities
to learn about and evaluate economic trends in addition to financial rewards.

IMPORTANCE OF LIFE INSURANCE
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• Protection of finances: Your loved ones will be financially secure in the
unfortunate event of your untimely death thanks to the financial safety net provided
by life insurance.
• Replacing Income: By helping to replace lost income, it ensures that dependents
may continue to live comfortably and pay their debts.
• Paying Back Debt: By paying off existing bills like credit card balances, loans, and
mortgages, life insurance can save your family from financial hardship.
• Finance for Education: You may designate the proceeds from your life insurance
policy to cover your children's educational costs, so even after you are gone, they
can continue to pursue their education.
• Planning an Estate: By offering liquidity to pay estate taxes and other costs, life
insurance helps ensure a smooth transfer of assets and makes estate planning easier.
• Add to Retirement Objectives: Everyone desires to have substantial, long-lasting
retirement funds. The correct life insurance policy will enable you to get a steady
monthly income in the future. Purchasing life insurance allows you to boost your
retirement goals.
• Tax Advantages: Subject to certain restrictions, payments made under a life
insurance policy are excluded from income tax under Indian tax regulations. If you
47
consistently pay a life insurance premium, you may be eligible for a tax deduction.
Up to Rs. 1.5 lakh in life insurance plan premiums may be deducted from taxes
under Section 80C. In this manner, you can avoid paying taxes on your existing and
future savings by purchasing insurance.
3.6 LIMITATIONS
• Expensive at an older age: Early in life, life insurance plans are excellent
investments. If you wait to buy insurance, your premiums will go up. Moreover, the
benefits you obtain might not be in line with the premiums you pay.
• Benefits from insurance might not be realized: Getting a life insurance policy
doesn't ensure your family will be.
financially secure, and they can be complicated. Several examples demonstrate
that, despite timely premium payments, insurance payouts may not always reach
the beneficiaries' families. Therefore, advisors advise studying a policy in its
entirety before buying it and confirming that the insurer can pay the insured
amount.
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• Returns might not be noteworthy: Life insurance policies come in a variety of
forms with different financial benefits. Certain plans, like ULIPs, are investment-
linked, with returns depending on the performance of the market. In comparison to
other investments and expectations, your returns might not be considerable if you
choose these, and the markets aren't performing well when it comes time to
withdraw the funds.
• Complicated life insurance plans: Many policyholders frequently glance at the
documentation without giving it a careful look. Policy documents can be difficult
for purchasers to understand since they frequently contain a lot of technical
language. For information on the policy's important terms and conditions as well as
its inclusions and exclusions, clients must ultimately rely on their insurance agent.
3.7 INNOVATION IN LIFE INSURANCE INDUSTRY

5
Innovation through new technology is an important force of change in the financial sector and
has resulted in unimaginable efficiency advantages, even though these changes can initially be
38
accompanied by anxiety and distrust. The possibility for new service delivery methods, as well
as more options for fraud detection and data collection that could lead to better risk assessment
57
and mitigation strategies—a field of study known as "Insurtech"—means that the insurance
business is not an exception to these developments. It appears that Insurtech firms are
5
developing business models that may better address policyholders' insurability by using
technology to accelerate the contracting process and tailor policies to better satisfy
policyholders' needs. Additionally, insurance can adapt to more significant changes in the
economy, like the sharing economy. One prominent characteristic that many Insurtech firms
have in common is the incorporation of social and environmental considerations into their
business plans. Many Insurtech firms strive to improve contracting and claims management
transparency by providing customers with greater information on premium distribution, which
11
includes fraud detection. This might impact the insurance industry. Even while these changes
can initially be accompanied by fear and doubt, innovation through new technology is a
fundamental driver of change in the financial sector and this has led to unimaginable efficiency
improvements. Particularly from (re)insurers, the amount of investment in Insurtech is
5
increasing. As Insurtech’s begin to draw in a lot of users and policyholders and offer better
5
customer service, (re)insurers will probably want to get a piece of these start-ups in order to
profit from their success. For this reason, several (re)insurers have established strategic venture
capital divisions and have started making targeted investments in several start-ups. In general,
these technologies hold promise for increasing financial security and providing better, more
tailored insurance coverage to a larger number of individuals, particularly those with lower
incomes. The new distribution strategies can also make insurance easier to get and available in
less developed markets.
3.8 FACTORS INFLUENCING INVESTMENT DECISION
Demograhic factors: Decisions about insurance are heavily influenced by demographic

characterestics. A person's age, gender, marital status, employment, and other socioeconomic
traits are among these influences. Demographic data is frequently considered by insurers for
calculating risk and setting rates. The following are some ways that insurance is impacted by
demographic factors:
• Age: An important consideration for insurance is age. Younger people may

pay less for life insurance, especially if they're healthy. On the other side,
because they are thought to be more likely to experience health problems,
older people might pay greater rates.
• Gender: Historically, insurance rates have been influenced by an
individual's gender. For example, because women are statistically less likely
than men to be involved in motor accidents, their rates may be lower.
Gender-based pricing is becoming less prevalent, while this practice has
been contested in some areas.
• Marital Status: People who are married might be seen as more stable and
low risk, which could result in cheaper premiums for some insurance
policies. Married people may receive better rates on life insurance.
• Employment: The type of work one does can affect insurance premiums.
The riskier a job is deemed to be, the higher the insurance premium. For
instance, the cost of life or health insurance may increase for someone who
works in a dangerous location.
• Income Level: An individual's income affects both the kind and quantity of
insurance coverage they may select as well as their ability to pay insurance
charges. While those with lesser incomes could prioritize necessary
coverage, those with higher incomes might choose more complete coverage.
• Education Level: Decisions about insurance are correlated with education
level. Greater knowledge of insurance products and financial planning may
result from higher education, which may have an impact on the kind and
amount of coverage a person chooses.
Awareness: Decisions about insurance are significantly influenced by awareness. It includes a

person's comprehension of different insurance plans, their advantages, and the significance of
obtaining insurance coverage. Various facets of awareness can influence decisions about
insurance.
Attitude towards insurance: One psychological aspect that has a big impact on people's
decisions to get insurance is their attitude about it. An individual's attitudes toward insurance
are influenced by their feelings, ideas, and beliefs about the topic.
14
Health Status: In particular, when it comes to health and life insurance, health is a crucial
aspect. Pre-existing medical issues may result in increased rates or exclusions for certain
people. People in better health could be able to get lower prices.
Tax benefit: Tax benefits have the potential to have a big impact on people's decisions to buy
46
kinds of insurance. Governments frequently offer tax breaks to entice people to purchase
insurance policies that fulfill their needs.
Long term goal: Long-term objectives are a major factor in shaping life insurance decisions.
Life insurance is strongly related to long-term financial planning because its purpose is to
safeguard people and their family financially in the case of death.
Lifestyle choices: Because lifestyle decisions can affect an individual's total risk profile, they
69
have a substantial impact on insurance decisions. In order to estimate the possibility of claims
and decide the proper price, insurance companies evaluate lifestyle choices. A few important
lifestyle factors that affect insurance are financial responsibility, travel and housing decisions,
work-related activities, and habits related to health and well-being.
3.9 DIFFERENT INVESTMENT AVENUES
• STOCK: Stocks refers to buying shares in an organization, giving the financial investor
possession
stake. It very well may be beneficial when the organization fills in the future. Putting
resources into stocks for the drawn-out guides in capital appreciation.
• DEBENTURES /BONDS: Debentures are debt financing instruments. Organizations
17
use these instruments to get funds for meeting their day-to-day expenses. They are
generally not secured by any physical assets of the issuers, which makes them riskier
than bonds. They also carry a fixed/floating interest rate.
22
• STOCK FUTURE/OPTIONS: Futures and Options are the common derivatives
traded in a share market. These are contracts signed by two parties for trading stock
assets at a predetermined price on a future date.
• MUTUAL FUNDS: Mutual Funds are resource vehicles that pool funds from various
investors and channel this into different resources.
• PUBLIC PROVIDENT FUNDS: The PPF is a drawn-out investment fund supported
by the Government of India with a lock-in time of 15 years.
• NATIONAL PENSION SCHEME: NPS is a retirement annuity conspire presented
by the Government of India.
• EMPLOYEE PROVIDENT FUND: The EPF is a retirement investment fund,
explicitly for salaried workers.
• FIXED DEPOSIT: A fixed deposit is an investment plan that allows you to deposit
large sums of money and collect income over a certain period. The principal amount
invested, and the length of the investment determine the fixed deposit's interest rate.
You will get the principal amount plus compound interest at maturity.
• INSURANCE POLICIES: An insurance policy is a legal agreement wherein a person
or an organization receives financial protection and reimbursement from the insurance
company's insurer for any losses. To put it more simply, an insurance policy is a type
of safeguard against unforeseen losses or damages.
7
• REAL ESTATE: Real estate investing involves the purchase, management and sale or
rental of real estate for profit.
• GOLD/SILVER: The metal is precious as it is rare and usually considered to be a safe
investment.
2
• POST OFFICE SAVING: The Post Office Monthly Income Scheme is a low risk
saving instrument, which can be used through any Post Office. The interest rate on
deposits is slightly higher than banks. The interest is calculated half yearly and paid
yearly Life Insurance Policies: Insurance companies offer many investment schemes to
investors. These schemes promote saving and additionally provide insurance cover. LIC
is the largest life insurance company in India. Insurance policies, while catering to the
risk compensation to be faced in the future by investors, also have the advantage of
earning a reasonable interest on their investment insurance premiums.
15
CHAPTER 4: DATA ANALYSIS AND INTERPRETATIONS
TABLE .4.1
AGE OF RESPONDENTS
Age Number of Percentage
respondents
26-35 14 14
36-45 29 29
46-55 53 53
56 and above
1
4 4
Total 100 100
Source: primary data
FIGURE 4.1: AGE OF RESPONDENTS
26-35 36-45 46-55 56 and above
23
INTERPRETATION
From the table it is identified that out of 100 respondent’s 53 percent of teachers represents the
27 27
age group of 46-55,29 percent of teachers belongs to the age group of 36- 45. 14 percent of
39
teachers belong to the age group of 26-35 and remaining 4 percentage from 56 and above. It is
concluded that majority of the respondents are from the age group of 46 to 55.
1
TABLE.4.2
GENDER OF RESPONDENTS
Gender No. of respondents Percentage
Male 27 27
Female 73 73
Total 100 100
FIGURE4.2: GENDER OF RESPONDENTS
Male Female
62
INTERPRETATION
Among the respondents, 73 percentage are women, and the rest 27 percentage are men. This
indicates that most of the respondents are women.
TABLE .4.3
PROPORTION OF INCOME/SALARY INVESTMENT
19
Proportion of income No. of respondents Percentage
0-30% 28 28
31 -40% 35 35
41 -50% 29 29
Above 50% 8 8
Total 100 100
FIGURE 4.3 PROPORTION OF INCOME INVESTMENT
0-30% 31 -40% 41 -50% Above 50%
43
INTERPRETATION
The above graph depicts the proportion of salary the respondents invest out of which the
majority 35 per cent invest 31-40 percentage of their salary, 29 per cent invest between 41-50
percentage of their salary, 28 per cent invest upto30 per cent age of their salary and 8 percent
invests above 50 percentage of their salary.
36
TABLE 4.4
LEVEL OF FINANCIAL AWARENESS OF RESPONDENTS
Level of awareness No. of respondents Percentage
Very High 14 14
High 16 16
Moderate 65 65
Low 5 5
1
Very low 0 0
Total 100 100
73
FIGURE.4.4: LEVEL OF FINANCIAL AWARENESS
Very High High Moderate Low Very low
15
INTERPRETATION
The above graph depicts the level of financial awareness among the respondent’s 65 percentage
are moderately aware,16 percentage are highly aware,14 percentage are very much aware, and
5 percentage have less financial awareness.
TABLE 4.5
INVESTMENT PERIOD OF RESONDENTS
1
Investment period No. of respondents Percentage
Less than 1 year 9 9
1-5 years 15 15
6-10 years 31 31
11-15 years 17 17
Above 15 years 28 28
Total 100 100
FIGURE.4.5: INVESTMENT PERIOD OF RESPONDENT
32
Less than 1 year 1-5 years 6-10 years 11-15 years Above 15 years
4
INTERPRETATION
The above graph depicts the investment period of the respondents out of which the majority 31
percentage invests for a period between 6-10 years, 28 percentage invests for above 15 years,
17 percent invested for a period between 11-15 years, 15 percentage invested for a period
between 1-5 years and9 percentage invests for less than 1 year.
TABLE 4.6
RISK PERCEPTION OF RESPONDENTS TOWARDS INVESTMENT
Attitude towards risk No. of respondents Percentage
Very high 3 3
High 17 17
Moderate 57 57
Low 19 19
Very low 4 4
1
Total 100 100
FIGURE.4.6: RISK PERCEPTION OF RESPONDENTS
Very high High Moderate Low Very low
4
INTERPRETATION
The above graph depicts the level of risk taken by teachers towards investment out of which
57 percentage of the respondents take medium risk, 90 percentage takes less risk. 17
percentage takes high risk. 4 percentage of respondents are very low risk takers, and 3
percentage are very risk takers.
TABLE 4.7
IMPORTANCE OF FINANCIAL PROTECTION FOR RESPONDENTS
70
Importance of financial No. of respondents Percentage
protection
Extremely important 41 41
Important 49 49
Moderately important 7 7
Somewhat important 6
3 3
Not at all important 0 0
Total 100 100
FIGURE.4.7: IMPORTANCE OF FINANCIAL PROTECTION
Extremely imp Important Moderately imp Somewhat imp Not at all imp
INTERPRETATION
Out of 100 respondents 49 percentage consider financial protection to be important, 41
percentage consider extremely important,7percentage consider financial protection as
moderately important and the remaining 3 percentage consider it as somewhat important.
TABLE 4.8
PRIMARY FINANCIAL PRIORITIES OF RESPONDENTS
Financial Priorities No. of respondents Percentage
Childrens education 68 68
Childrens marriage 26 26
Tax concession 50 50
Savings for retirement 69 69
Capital appreciation 31 31
Other 3 3
1
FIGURE.4.8: PRIMARY FINANCIAL PRIORITIES OF

RESPONDENTS:
Other
Capital appreciation
Savings for retirement
Tax concession
Childrens marriage
Childrens education
0 10 20 30 40 50 60 70 80
NO.4of respondents
INTERPRETATION
The above graph shows the financial priorities of teachers out of which majority of them
consider savings for retirement and children’s education as their priorities and only 3
percentage of teachers consider other priorities.
TABLE 4.9
FACTORS THAT INFLUENCED THE RESPONDENT’S
INVESTMENT DECISION
21
Influence High rate Tax Safety Liquidity Low risk
of return concession
Highly 49 48 58 10 27
influenced
Influenced 31 30 34 46 43
Moderately 15 17 6 35 23
influenced
Somewhat 4 3 2 8 6
influenced
1
Not at all 1 2 - 1 1
influenced
FIGURE.4.9: FACTORS THAT INFLUENCE INVESTMENT

DECISION
80
60
40
20
0
21
High rate of return Tax concession Safety Liquidity Low risk
Highly influenced Influenced Moderately influenced Somewhat influenced Not at all influenced
4
INTERPRETATION
The above graph shows the factors that influenced the teacher’s investment decision such as
21
high rate of return, tax concession, safety, liquidity and low risk. The teachers have ranked
the factors according to their preference.
TABLE 4.10
INVESTMENT IN LIFE INSURANCE POLICY
6
Investment No. of respondents Percentage
Yes 86 86
No 14 14
Total 100 100
20
FIGURE.4.10: INVESTMENT IN LIFE INSURANCE
Yes No
INTERPRETATION
Among the 100 respondents 86 percentage of teacher’s invest in life insurance and the
58
remaining 14 percentage does not invest in life insurance.
TABLE 4.11
KNOWLEDGE OF RESPONDENTS ABOUT LIFE INSURANCE:
Level of knowledge No. of respondents Percentage
Extremely knowledgeable 9 9.7
Very knowledgeable 28 30.1
Moderately knowledgeable 38 40.9
Somewhat knowledgeable 12 12.9
Not at all knowledgeable 6 6.5
1
FIGURE 4.11 KNOWLEDGE OF RESPONDENTS ABOUT LIFE

INSURANCE
Extremely knowledgeable Very knowledgeable Moderately knowledgeable

Somewhat knowledgeable Not at all knowledgeable
INTERPRETATION
The above graph shows the teacher’s level of knowledge about life insurance, where 9.7
percentage of them are extremely knowledgeable, 6.5 of them are not at all knowledgeable.
83
Majority of the teachers are moderately aware.
TABLE 4.12
TYPE OF INSURANCE POLICIES RESPONDENTS HAVE
Type of policy No. of respondents Percentage
Savings 47 54
Whole life 13 14.9
Endowment 9 10.3
Moneyback 16 18.4
Other 1 1
FIGURE 4.12 TYPE OF INSURANCE POLICIES OF RESPONDENT’S
Savings Whole life Endowment Moneyback Other
INTERPRETATION
Among the 100 respondents 54 percentage of teachers invest in savings insurance 18.4
percentage invest in moneyback policies ,14.9 percentage invest in whole life policies ,10.3
invest in endowment insurance and the remaining 1 percentage invest in term insurance.
TABLE.4.13
PERIOD OF CURRENT LIFE INSURANCE POLICY
Period No. of respondents Percentage
10
Less than 1 year 4 4.5%
1-5 years 12 13.6%
6-10 years 28 31.8%
11-15 years 19 21.6%
More than 15 years 25 28.4%
FIGURE 4.13: PERIOD OF CURRENT LIFE INSURANCE POLICY
10
Less than 1 year 1-5 years 6-10 years 11-15 years More than 15 years
INTERPRETATION
31.8 percentage of respondents have been investing in life insurance from a period of 6 -10
years.28.4 percentage have been investing for a period of more than 15 years ,21.6
85
percentage of then have been investing for a period of 11-15 years and the remaining 4
percentage belong to the period of less than 1 year.
TABLE 4.14
20
LEVEL OF UNDERSTANDING ABOUT THE BENEFITS AND
23
FEATURES OF LIFE INSURANCE PRODUCTS OF RESPONDENTS
Level of understanding No. of respondents Percentage
Very high 5 5.4%
High 26 28.3%
Moderate 50 60.9%
Low 4 4.3%
Very low 1 1.1%
1
FIGURE 4.14: LEVEL OF UNDERSTANDING OF RESPONDENTS

ABOUT THE DIFFERENT BENEFITS OF LIFE INSURANCE
Very high High Moderate Low Very low
6
INTERPRETATION
The above graph shows the level of understanding about the benefits and features of life
insurance products, where 5.4 per cent age of teachers are very much aware, 28.3 are highly
19
aware, 60.9 per cent age are moderately aware and 4.3 per cent age and 1.1 percentage are
least aware about it.
TABLE 4.15
IMPORTANCE OF LIFE INSURANCE IN RESPONDENT’S LIFE
Financial Tax Investment Flexibility Peace of
security benefits returns in mind
for premium
dependents payment
Very 61 38 36 10 29
important
Important 20 35 32 37 31
Moderately 5 11 11 24 19
important
Somewhat 2 2 3 6 2
important
Not at all - - - 1 -
important
30
FIGURE 4.14: IMPORTANCE OF LIFE INSURANCE IN

RESPONDENT’S LIFE
70
60
50
40
30
20
10
0
Very imp Important Moderately Somewhat Not at all imp
imp imp
Financial security for dependents Tax benefits

Investment returns Flexibility in premium payment
Peace of mind
4
INTERPRETATION
The above graph shows various aspects of life insurance such as financial security for
dependents, tax benefits, investment return, flexibility in premium payment and peace of mind
in which the teachers have ranked according to what they prefer.
TABLE 4.16
IMPORTANCE OF LIFE INSURANCE IN AN INDIVIDUAL’S
FINANCIAL PLAN
No. of respondents Percentage
Extremely important 22 23.4
Important 46 48.9
Moderately important 15 16
Somewhat important 8 8.5
Not at all important 3 3.2

30
FIGURE 4.16: IMPORTANCE OF LIFE INSURANCE IN

RESPONDENT’S LIFE
50
Extremely important Important Moderately important
Somewhat important Not at all important
INTERPRETATION
48.9 % of respondents consider life insurance as important in an individual’s financial plan,
23.4 % consider it to be extremely important 16.5 percentage consider it to be moderately
important 8.5 percentage considers moderately important and the remaining 3 percentage
consider life insurance to be not at all important in an individual’s financial plan.
TABLE 4.17
INFORMATION SOURCE THAT INFLUENCED THE
RESPONDENTS:
Information source No. of respondents Percentage
Agent 47 52.2
Online sources 6 6.7
Family & friends 33 36.7
None of these 4 4.4
65
FIGURE 4.17INFORMATION SOURCE THAT INFLUENCED

THE RESPONDENTS
Agent Online sources Family & friends None of these
16
INTERPRETATION
The above graph shows the information source that influenced the teachers to invest in life
insurance, among which 52.2 percentage of teachers are influenced by agents, 36.7 by family
and friends, 6.7 percentage by online sources and 4.4 percentage teachers were influenced by
other factors.
TABLE 4.18
PRIMARY REASONS THAT INFLUENCED THE RESPONDENTS TO
INVEST IN LIFE INSURANCE
Reasons No. of respondents Percentage
Security 69 77.5
Tax advantage 45 50.6
Debt protection 7 7.9
Retirement income 26 29.2
None of these 0 0
FIGURE 4.18 REASONS THAT INFLUENCED RESPONDENTS

TO INVEST IN LIFE INSURANCE
90
80
70
60
50
40
30
20
10
0
Security Tax advantage Debt protection Retirement income None of these

16
INTERPRETATION
The above graph shows that 77.5percentage of teachers invest in life insurance for the
primary reason of security and 50.6 percentage invest for tax advantage .26.92 invest in life
insurance as a source of retirement income and the remaining 7 percentage invest for debt
protection.
TABLE 4.19
PARAMETERS THAT THE RESPONDENTS CONSIDERED WHILE
PURCHASING THE LIFE INSURANCE
Premium Policy term Benefits Pre &post Company
services image
Highly important 45 35 54 22 37
Important 38 45 34 38 39
Neutral 5 8 3 24 10
Less important 2 1 1 4 2
31
Not important 0 0 0 1 0
FIGURE 4.19: PARAMETES CONSIDERD BY RESPONDENTS FOR

PURCHASING LIFE INSURANCE
60
50
40
30
20
10
0
Highly imp Important Neutral Less imp Not imp
Premium Policy term Benefits Pre &post services Company image
4
INTERPRETATION
The above graph shows parameters that teachers consider while purchasing life insurance
policy such as premium, policy term, benefits, pre and post services and company images,
etc. Where the teachers have ranked their preference accordingly
TABLE 4.20
THE RESPONDENT’S FAMILIARITY WITH VARIOUS INVESTMENT
AVENUES
Life Posta Public Real Gol Bank Mutu Debentures/bo
insuran l provide estat d & depos al nds /share
ce savin nt fund e silve it fund
g r
Aware 61 54 59 13 55 70 19 11
Moderate 38 44 31 28 34 28 45 44
ly aware
Unaware 1 2 10 59 11 2 36 45
FIGURE 4.20: RESPONDENT’S FAMILIARITY WITH VARIOUS

INVESTMENT AVENUES
80
70
60
50
40
30
20
10
0
Aware Moderately aware Unaware
16
INTERPRETATION
This graph shows how familiar the teachers are with various investment avenues such as life
26
insurance, postal office, savings, public provident fund, real estate, gold and silver, bank
deposits, mutual funds, etc.
TABLE 4.21
MOST SUITABLE INVESTMENT AVENUE FOR TEACHERS AS PER
RESPONDENTS
Stock 12 12
Bonds 4 4
Mutual fund 22 22
Real estate 6 6
Bank deposit 76 76
Life insurance 62 62
Provident fund 66 66
Other 4 4
FIGURE 4.21: MOST SUITABLE INVESTMENT AVENUE FOR

TEACHERS AS PER RESPONDENT’S
80
70
60
50
40
30
20
10
0
Stock Bonds Mutual Real estate Bank Life Provident Other
fund deposit insurance fund
79
INTERPRETATION
Among the 100 respondents 76 percentage of them considered bank deposit to be the most
suitable investment avenue for teacher’s ,66 percentage consider provident fund to be
suitable.62 percentage consider life insurance as a better investment option.22 percent
consider mutual fund 12 percentage consider stock and the remaining 6 percentage and 4
percentage real estate and bonds.
TABLE 4.22
PERCEPTION OF RESPONDENTS TOWARDS OTHER INVESTMENT
OPTIONS COMPARED TO LIFE INSURANCE
Perception No. of respondents percentage
Most attractive 8 8
More attractive 31 31
Attractive 53 53
Less attractive 8 8
31
Least attractive 0 0
FIGURE 4.22: PERCEPTION OF INVESTORS TOWARDS OTHER

INVESTMENT OPTION
Most attractive More attractive Attractive Less attractive Least attractive
INTERPRETATION
The above graph shows teachers perspective towards other investment options compared to
life insurance, where 53 percentage consider it as more attractive and only 8 percentage
consider it as less attractive.
TABLE 4.23
FACTORS INFLUENCED RESPONDENT’S DECISION TOWARDS
DIFFERENT INVESTMENT OPTIONS
Factors No. of respondents Percentage
Risk tolerance 48 48
Return on investment 76 76
Professional advice 23 23
Personal research 17 17
Long term or short-term goals 38 38
others 1 1
1
FIGURE 4.23: FACTORS INFLUENCED THE RESPONDENTS TO

INVEST IN OTHER INVESTMENT OPTIONS
80
70
60
50
40
30
20
10
0
1 2 3 4 5 6 7
Factors No. of respondents Percentage
4
INTERPRETATION
The above graph shows the factors that influenced the teachers while considering different
investment options. Among this, 76 percentage of teachers consider Return on investment and
only 17 percentage of teachers consider personal research.
TABLE 4.24
RESPONDENT’S OPINION ON THE NEED FOR FINANCIAL
EDUCATION & GUIDANCE REGARDING INVESTMENT OPTIONS
FOR TEACHERS
1
Opinion No. of respondents Percentage
Strongly agree 21 21
Agree 52 52
Neutral 18 18
Disagree 6 6
Strongly disagree 3 3
FIGURE 4.24: RESPONDENT’S OPINION ON THE NEED FOR

FINANCIAL EDUCATION FOR TEACHER’S
35
Strongly agree Agree Neutral Disagree Strongly disagree
INTERPRETATION
Out of 100 respondents 21 percentage strongly agreed on teachers receiving financial education
and guidance and only 3 percentage strongly disagree with providing financial education to
teachers.
CHAPTER 5: FINDINGS, SUGGESTIONS AND CONCLUSIONS
5.1FINDINGS
66
1.Majority of the participants who took part in the survey were those belonging between the
age category of 46-55 and 36-45 with a total of 82 respondents out of 100.
2.Of the 100 respondents, 73 were female, making up most of the sample; 27 of the responses
came from men.
3.Majority invests between 31-40 percentage of their salary while only few invests above 50
of their salary.
4.Only 14 percentage of the respondents are highly knowledgeable about their own level of
financial awareness. Majority of the respondents, with 65 percentage of them are moderately
aware and only 5 percentage of them are least aware.
5.Over a period of six to ten years, most respondents were active in investments. Just 9% of
them had been investing for less than a year, while about 28% had been doing so for more than
15 years.
6.Only very few respondents take high risks whereas a slightly higher percentage takes low
risk while majority of the respondents are neutral.
7.When it comes to financial protection majority of the respondents consider it as important

whereas only few respondents consider it as somewhat important.
8.When studying the respondent’s purpose of investment in the case of savings for retirement,
children's education, tax concession majority ranks them as their first preference.
9.In respondent’s perception about high rate of returns as a factor influencing investment
decision, majority of the respondents were highly influenced.
10.In respondent’s perception about tax concession as a factor influencing investment decision,
majority of the respondents were highly influenced.
11. In respondent’s perception about safety as a factor influencing investment decision,
majority of the respondents were highly influenced
12.A large number of respondents were impacted in their assessment of liquidity as a factor
influencing investing decisions.
13. Most of respondents were influenced by their impression of low risk as a factor determining
their investment choices.
14. Of the 100 responders, the majority were investing in life insurance policies.
20
15. Many of them placed a high value on the benefits of life insurance policies. A vast majority
of respondents have a modest level of knowledge regarding life insurance, with only a few
having extensive expertise. The least amount of knowledge regarding life insurance was only
6.5%
16. Of the teachers surveyed, 54% selected savings life insurance, 33.3 % preferred money-
77
back and whole-life plans, and 2% preferred other types of life insurance policies.
17. Among those who now hold a life insurance policy, the majority have had it for six to ten
years, and only 4.5 percent have had it for less than a year.
13
18. A large number of teachers obtained a moderate rating for their level of awareness of the
features and advantages of life insurance products.
19. A large percentage of respondents believe that financial stability for their dependents is
extremely important when examining their opinions on numerous life insurance-related topics.
20. Most of respondents believe tax benefits to be quite essential when examining their
opinions on various aspects of life insurance.
21. A large number of respondents agree that investment returns are crucial when examining
their opinions on various aspects of life insurance.
22. A vast majority of respondents feel that flexibility in premium payments is crucial when
examining their opinions on various features of life insurance.
23. The majority of respondents felt that peace of mind was crucial when examining their
opinions on various aspects of life insurance.
24. A great deal of people think that having life insurance is crucial when it comes to their
financial strategy, and very few say that it is not significant at all.
26. A large proportion of teachers who purchased in life insurance did so mainly for the
purpose of securities, with debt protection influencing a smaller percentage of them.
76
27. Of the factors the teachers looked into when buying a life insurance policy, most of them
felt the premium to be very significant.
28. More than half of the teachers have looked into a number of factors before acquiring a life
insurance policy, and one of those factors is the policy term.
29. In terms of the criteria that teachers looked at when making the purchase
30. Pre and post services are considered as crucial by the majority of educators when it comes
to the characteristics they looked at while taking life insurance.
8
31. Most of the teachers considered the company's reputation to be one of the most important
considerations when purchasing a life insurance policy.
32. As compared to various investing alternatives, most teachers are informed about life
insurance.
33. When it comes to various financial alternatives, most educators are aware of postal savings.
34.The majority of teachers are aware of the public provident fund when it comes to different
investing options.
35. As compared to various investing alternatives, most teachers have a solid understanding of
real estate.
36. The majority of teachers are knowledgeable about gold and silver investments when it
comes to different investment options.
37. A lot of teachers know a lot about mutual funds, bank accounts, and other financial
products.
38. The majority of teachers believe that bank deposits are the best alternative for investing,
while bonds are the least ideal for teachers.
39. Teachers generally regard other investment options to be reasonably appealing, with a small
percentage finding them to be less attractive than life insurance.
40. When evaluating their options for investments, the majority of them consider return on
investment as a significant factor that influenced their choice.
5.2 SUGGESTION
56
Here are some suggestions to make people aware of the importance of investing in life
insurance and other investment avenues.
• Education and resources: Providing education and resources on investing can help
people understand the benefits and risk of investing. This can be in the form of
workshops, webinars, online courses, and written presentation that explain financial
basics, diversification and risk management. Use real-life examples and case studies to
45
illustrate how life insurance can protect families financially in the event of unexpected
events like death or disability.
• Address Concerns and Misconceptions: Address common concerns and misconceptions
that teachers may have about life insurance, such as affordability, eligibility
requirements, and the complexity of policies. Provide clear and transparent information
to help alleviate any apprehensions.
• Personalized Financial Planning Sessions: Offer personalized financial planning
sessions or consultations to help teachers assess their insurance needs and understand
the various life insurance options available to them. Provide guidance on selecting the
right policy based on their individual circumstances and goals.
• Online Resources and Webinars: Create online resources, webinars, and video tutorials
that teachers can access at their convenience. Cover various investment options,
strategies, and considerations, including risk tolerance, diversification, and long-term
planning making teachers aware about the different investment avenues available for
them.
• Diversification Strategies: Educate teachers about the importance of diversification in
investment portfolios. Explain how diversifying across different asset classes can help
manage risk and optimize returns over time.
• Regular Updates and Communication: Keep teachers informed about investment
trends, market developments, and relevant news through regular updates and
communication channels. Provide resources for ongoing learning and self-directed
research.
5.3 CONCLUSION
Life insurance and investments plays a complementary role as they help’s in achieving financial
75
security and long, term financial goals. while life insurance ensures financial protection in the
event of the of the policy holder’s death, investments options like stock, bonds, mutual funds,
etc helps in generating income and protect an individual's financial future. When life insurance
helps in ensuring stability by covering immediate expenses, investments offer opportunities for
achieving financial growth that would last for a long term.
The study focuses on understanding the perception of higher secondary teachers on life
80
insurance and other investments options While conducting the study, it was evident that most
of the teachers have invested in life insurance and were aware about various investment
avenues. assessing the teacher’s level of knowledge on financial awareness, we realised that
most of the respondents were knowledgeable and only few of them were least aware about it.
Majority of the teachers took life insurance and opted other investments options, it was revealed
that they took it in case of savings for retirement, for their children's marriage, education tax
concession and so on. Most of the teachers have been a policy holder for about 6-10 years and
only few of them have insurance for less than a year Agents played a crucial role in influencing
teachers to take life insurance and investments and only few of them were influenced by online
sources and others.
Several parameters like premium, policy term, benefits, pre and post services etc .... were taken
into consideration while purchasing life insurance products. Most of the teachers were aware
about various investments options such as postal office savings, public provident fund real
estate, etc.... eventually showing their level of knowledge on investments.
The study concludes by showing that most of the teachers are knowledgeable and were aware
about life insurance and various investment options. They also believe that should receive more
financial knowledge and guidance, helping them achieve financial security and long-term
financial goal.
BIBLIOGRAPHY
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SBI Life Insurance Schemes”, Insurance Chronicle, August 2007, pp: 61-70 [2.3]
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avenues “, International Journal of Management Research and Social science, Vol: 2, Issue: 1,
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& management, volume no.2, issue no.4 ISSN 2277-1166 [2.11]
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teachersworking in arts and science colleges with special reference to Thiruvananthapuram
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ANNEXURE :
QUESTIONNAIRE
1. Age
1.26-35
2.36-45
3.46-55
4.56 and Above
2. Gender
1. Male
2. Female
3. Prefer not to say
3.What is your proportion of income /salary you invest?
1. 0-30%
2. 31-40%
3. 41-50%
4. Above 50%
4. How would you rate your level of financial awareness?
1.Very High
2. High
3.Moderate
4.low
5.Very low
5. How long have you been involved in investment?
1. Less than 1 year
2. 1-5 years
3. 6-10 years
4. 11-15 years
5. Above 15 years
6. How much risk do you take towards investment?
1. Very high
2. High
3. Moderate
4. Low
5. Very low
7. How important is financial protection for you?
1. Extemely Important
2. Important
3. Moderately Important
4.Somewhat Important
5. Not at all Important
8. What are your primary financial priorities? (Tick all that apply)
1.Children’s education
2.Children’s marriage
3.Tax concession security

4.Saving for retirement
5.Capital appreciation
9. what are the factors that influenced your investment decisions?
1.High rate of return
2.Tax concession
3. Safety
4. Liquidity
5. Low risk
10. Do you invest in life insurance policy?
1. Yes
2. No
11. How knowledgeable are you about life insurance? Rank accordingly.
1.Knowledgeable at all
2. Slightly knowledgeable
3. Moderately knowledgeable
4.Very knowledgeable
5.Extremely knowledgeable
12. What kind of insurance policies do you have?
1.Savings
2. Whole life
3. Endowment
4. Property
5. Money back
13. How long have you had your current life insurance policy?
1. Less than a year
2. 1-5 years
3. 6-10 years
4. 11-15 years
5. More than 15 years
14. How would you rate your level of understanding about the benefits and features of
life insurance products?
1. Very high
2. High
3. Moderate
4. Low
5. Very low
15. Please rate the following aspects of life insurance.
Very Important Moderately Somewhat Not at all

Important Important Important Important
Financial
Security
Tax Benefits
Investment
Returns
Flexibility
in premium
payments
Peace of
mind
16. How important do you think life insurance is as part of an individual's financial
plan?
1.Extremely Important
2.Important
3.Moderately Important
4.Somewhat Important
5.Not at all Important
17.Which information source influenced you to invest in life insurance?
1. Agent
2. Online sources
3.Family and Friends
4. none of these
18. If you have invested in life insurance, what were the primary reasons that influenced
your decision to do so.
1. Security
2. Tax advantage
3. Debt protection
4. Retirement income
5. Other
19. What parameters you have investigated at the time of buying life insurance policy?
Highly Important Neutral Less Not at all

Important Important Important
Premium
Policy Term
Benefits
Pre& Post
Services
Company
Image
20. How familiar are you with various investment avenues?
(1-Aware, 2- Moderately, 3- Unaware,4- Totally unaware)
Aware Moderately Unaware Totally

aware aware
Postal office saving
Life insurance
Public provident
fund
Real estate
Gold
Bank deposits
Mutual fund
Debentures/bonds/share
21. Which investment options do you perceive as the most suitable for teachers or
educators in general? (Tick up to three)
1.Stocks
2.Bonds
3.Mutual funds
4.Real estate
5.Bank deposit
6. Life Insurance
7. Provident Fund
22. How do you perceive other investment options compared to life insurance?
1.Most attractive
2.More attractive
3.Attractive
4.Less attractive
5.Least Attractive
23. What factors influence your decisions when considering different investment
options? (Tick all that apply)
1. Risk tolerance
2. Return on investment
3. Professional advice
4.Personal research
5. Long-term vs. short-term goals
24. Do you believe that teachers should receive more financial education and guidance
regarding investment options?
Strongly disagree.
Disagree
Neutral
Agree
Strongly agree.
Similarity Report
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Crossref database Crossref Posted Content database
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PAPER NAME AUTHOR

ANALYSING THE PERCEPTION OF TEAC Kezia Alice Kurian Thara Rajan

WORD COUNT CHARACTER COUNT

11931 Words 65390 Characters

PAGE COUNT FILE SIZE

SUBMISSION DATE REPORT DATE

Apr 3, 2024 11:45 PM GMT+5:30 Apr 3, 2024 11:45 PM GMT+5:30

16% Overall Similarity

Excluded from Similarity Report

1.3 SCOPE OF THE STUDY

improved financial well-being within the teaching community.

1.5 RESEARCH METHODOLOGY

A Sample of 100 aided teachers from Kottayam district where selected.

2. Some respondents are not very interested in giving genuine information.

means to communicate and gather results in limited time.

1.7 CHAPTER SCHEME

CHAPTER 2 LITERATURE REVIEW

CHAPTER 3 THEORETICAL FRAMEWORK

CHAPTER 4 DATA ANALYSIS AND INTERPRETATIONS

CHAPTER 5 SUMMARY OF FINDINGS, CONCLUSION AND SUGGESTIONS

2.2 Ganesan, S. Namasivayam, and Rajendran (2006) investigated the socioeconomic

2.3 N. Namasivayam, S. Rajendra, and R. Eswaran (2007) investigate how socioeconomic

2.12 Puttaswamy and Paramashivaiah (2014): To better understand women investors'

3.3 NEED FOR INVESTMENT

3.4 WHY INVEST IN LIFE INSURANCE?

3.5 BENEFITS OF INVESTMENT

to learn about and evaluate economic trends in addition to financial rewards.

3.7 INNOVATION IN LIFE INSURANCE INDUSTRY

3.8 FACTORS INFLUENCING INVESTMENT DECISION

Demograhic factors: Decisions about insurance are heavily influenced by demographic

• Age: An important consideration for insurance is age. Younger people may

Awareness: Decisions about insurance are significantly influenced by awareness. It includes a

FIGURE 4.1: AGE OF RESPONDENTS

26-35 36-45 46-55 56 and above

FIGURE4.2: GENDER OF RESPONDENTS

FIGURE 4.3 PROPORTION OF INCOME INVESTMENT

0-30% 31 -40% 41 -50% Above 50%

Very High High Moderate Low Very low

FIGURE.4.5: INVESTMENT PERIOD OF RESPONDENT

FIGURE.4.6: RISK PERCEPTION OF RESPONDENTS

Very high High Moderate Low Very low

FIGURE.4.7: IMPORTANCE OF FINANCIAL PROTECTION

Source: primary data

FIGURE.4.8: PRIMARY FINANCIAL PRIORITIES OF

Source: primary data

FIGURE.4.9: FACTORS THAT INFLUENCE INVESTMENT

Source: primary data

FIGURE 4.11 KNOWLEDGE OF RESPONDENTS ABOUT LIFE

Extremely knowledgeable Very knowledgeable Moderately knowledgeable

Source: primary data

FIGURE 4.12 TYPE OF INSURANCE POLICIES OF RESPONDENT’S

Savings Whole life Endowment Moneyback Other

Source: primary data

FIGURE 4.13: PERIOD OF CURRENT LIFE INSURANCE POLICY

Source: primary data

FIGURE 4.14: LEVEL OF UNDERSTANDING OF RESPONDENTS

Very high High Moderate Low Very low

FIGURE 4.14: IMPORTANCE OF LIFE INSURANCE IN

Financial security for dependents Tax benefits

Not at all important 3 3.2

FIGURE 4.16: IMPORTANCE OF LIFE INSURANCE IN

Source: primary data

FIGURE 4.17INFORMATION SOURCE THAT INFLUENCED