Investors' Perception Towards Post Office Life Insurance Schemes - An Analytical Study (With Special Reference To Indore District)

Abstract

Despite the expansion of private companies in the life insurance sector, post office insurance schemes still remain a safe and reliable option for a specific class. This study attempts to understand how investors view these schemes, what are their main reasons behind choosing the scheme, and what features they prefer. The objective of the present paper is to analyze the investors' perception towards post office life insurance schemes (Postal Life Insurance - PLI and Rural Postal Life Insurance - RPLI) in Indore district.

The research collected responses of 210 investors and analyzed them with the help of statistical tools. The study found that a large number of investors prefer these schemes due to reasons such as security, government guarantee and minimum premium. However, many respondents identified quality of service, lack of publicity and limitations of digital access as weaknesses of the scheme.

Data analysis shows that awareness of post office insurance schemes is mainly spread through post office employees, while the role of online mediums is relatively limited. Based on the satisfaction level, it was seen that about three-fourths of the investors are satisfied with the schemes, while the rest expect service improvement.

This research suggests that to make post office life insurance schemes more effective, innovation is needed in the promotional strategy, as well as the reach of digital platforms should be strengthened. If modern technological measures are adopted and service quality is improved, then the reach and effectiveness of these schemes can be increased significantly.

This study can be helpful in strategic planning for future expansion of post office insurance schemes and can become a useful reference for policy makers, scheme managers and researchers.