Consumer Awareness and Perception of Health Insurance

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PRESTIGE INSTITUTE OF MANAGEMENT
AND RESEARCH
INDORE
(Session 2019-2021)
MINOR RESEARCH PROJECT
TOPIC- Consumer Behavior and Awareness
towards Health Insurance Policy
CLASS- Financial Management (FA-A)

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ACKNOWLEDGEMENT
It is privilege to express gratitude and sincere thanks to PRESTIGE INSTITUTE OF
MANAGEMENT AND RESEARCH, Indore for giving us the opportunity to carry out this
MINOR RESEARCH PROJECT on topic “Consumer Behavior and Awareness towards
Health Insurance Policy”.
We are very thankful to Dr. Yogeshwari Phatak, Director of Prestige Institute of Management
and Research, for her moral support and Dr. Chanchala Jain (Faculty Guide), for her valuable
guidance and support throughout report presentation.
We would also like to thank to all people, who directly or indirectly helped us to complete the
project report.
NAME OF STUDENTS
Niharika Yadav
Rahul Singh Kandari
Raja Bhargava
CLASS-
FINANCIAL ADMINISTRATION (A)

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DECLARATION
We (Niharika Yadav ,Rahul Singh Kandari, Raja Bhargava)Hereby declare that Major project
Report Entitled (“Consumer Behavior and Awareness towards Health Insurance Policy”),
submitted by us to PRESTIGE INSTITUTE OF MANAGEMENT AND RESEARCH, INDORE
towards fulfillment of Master of Business Administration (Financial Administration) represents
our own work, expect for the guidance and suggestion received which have been suitably
acknowledged.
We further state that this work does not form the part of our or any other report submitted to this
or any other college for the award of degree or diploma.
NAME OF STUDENTS
Niharika Yadav
Rahul Singh Kandari
Raja Bhargava
CLASS
FINANCIAL ADMINISTRATION (A)

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CERTIFICATE OF FACULTY GUIDE
This is to certify that (Niharika Yadav, Rahul Singh Kandari, Raja Bhargava) have successfully
under gone the project entitled “Consumer Behavior and Awareness towards Health
Insurance Policy”) towards the partial fulfillment of their two years degree of Master of
Business Administration (International Business). They have carried on their project with full
sincerity and dedication.
FACULTY NAME
Dr. Chanchala Jain
PIMR (INDORE)

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S.NO. CHAPTERS PAGE NO.
1 CHAPTER I
INTRODUCTION 6-7
IMPORTANCE 7
OBJECTIVES 8
2 CHAPTER II
LITERATURE REVIEW 9-10
RESEARCH GAP 11
3 CHAPTER III
RESEARCH METHODOLOGY 12
4 CHAPTER IV
DATA ANALYSIS AND INTERPRETATION 13-27
5 CHAPTER V
FINDINGS 28
CONCLUSION 29
SUGGESTIONS 30
LIMITATIONS 31
6 CHAPTER VI
REFERENCES 32-33
WEBLIOGRAPHY 33-34
APPENDICES 35-40

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STUDY ON CONSUMER AWARENESS AND THEIR
PERCEPTION TOWARDS HEALTH INSURANCE
CHAPTER I
INTRODUCTION
Health insurance is a part of “Personal Insurance and General Insurance”. The medical insurance
or med claim policy is very well known in India. Health is an important indicator in present
world to estimate social as well as economic development of the country. There are lots of
companies which have been offering the cheap med claim policies in India. United nations have
also been taken indicator in their millennium development goals.
The history of Health Insurance in India traces back to 1923 when the Workman’s Compensation
Act’ was passed. The Health Insurance market has been a frontier with rules constantly evolving
Indian Health Insurance covers medical treatment, in case of illness and accidents. Get good
medical care without worrying about expensive treatment. In view of purchasing health
insurance, an individual or a group has to pay fee called premium to keep the health insurance
policy active. Health Insurance is very well established in many countries. But in India it is a
new concept except for the organized sector employees. In India only about 2 percent of total
health expenditure is funded by public health insurance while 18 percent is funded by
government budget.
Health Insurance in India is considered same as hospitalization where the policy covers the
hospitalization expenses. The expenses for hospital bed, nursing, surgeon’s fee, consultant
doctor’s fees, cost of blood, operation theatre charges, etc. all are covered. Certain diseases
which are mentioned in the policy’s terms and conditions shall be excluded from coverage or
may be covered only after one or two years of the policy issue date.
Increasing utilization of health services is the prime goal of developing countries like India and
health is a very important issue. Health status in India is very poor. Indian government is
focusing more on the states like Bihar, Jharkhand, Uttar Pradesh, Uttarakhand, Madhya Pradesh,

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Chhattisgarh, Orissa and Rajasthan because these states alone contributes to more than half(55%)
to the estimated life birth, 66% of infant death and 80/5 of maternal deaths in India. There eight
states constitute 46% of the total population of India and account for 59% to the total poor in
India.
Public health is a primarily the responsibility of the state government. The Central Government
guides and supports major schemes for improving the health status of the people. Public health
expenditure has an important enhance the utilization of health services, especially by the special
part of population who cannot utilize other source due to the condition of cost. This study
focused upon the awareness preference of health insurance and also focuses on the reasons
because of which people are not purchasing Health Insurance Policies.
AWARENESS IS NECESSARY
Concept of awareness on Insurance products among the customers is an important task to
government. The customers always purchase the products which are known to them. And like
this, if people are aware about the policies of Medical Insurance and its benefits then it will be
very helpful to know the importance of purchasing the insurance policy and identify the best
policy for them.
TYPES OF HEALTH INSURANCE PLANS IN INDIA
Mentioned below are the different types of Health Insurance plans, which a customer can choose
to meet their specific requirements:
 Individual Health Insurance
 Family Floater Health Insurance
 Senior Citizen Health Insurance
 Maternity Health Insurance
 Critical Illness Health Insurance
 Group Health Insurance
 Personal Accident Insurance

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BENEFITS OF HEALTH INSURANCE
The following are the main benefits of being covered by a Health Insurance Policy:
 Cashless Treatment
 Cover for Pre- as well as Post- Hospitalization Expenses
 Transportation Expenses
 Medical Check-ups
 No Claim Bonus
 Room Rent
 Tax Benefits
 Renewal
 Cover For OPD Expenses
OBJECTIVES OF THE STUDY

 To identify the awareness level of customers towards Health Insurance and factors related
to it.
 To find out the sector wise preferences of Health Insurance Companies.
 To know the customers purpose for purchasing Health Insurance Policies.
 To offer suggestions based on the results of the study.

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CHAPTER II
LITERATURE REVIEW
1. Jacob Anjali, international journal of advance research and development (2018) has
conducted a study on the topic entitled “ A study on consumer perception towards health
insurance in Ranny Thaluk” has concluded that the main reason for choosing health
insurance policy is to cover the risk of illness and the majority of the respondents are
satisfied with health insurance. Jacob Anjali also suggested that all the diseases should be
covered under health insurance policies, creating more awareness regarding health
insurance and to increase the number of hospital under coverage.
2. Pallavi chaturvedi, Durgesh Agnihotri on their study “ A study on consumer buying
behaviour towards health insurance in Kanpur (2017) concluded that company should
come up with clear policy and appropriate details about the services. They should make
clear about all the risk and benefits. Middle income group should be targeted properly as
they are high potential market for these health insurance companies. Companies should
make it hustle free for customers for better retention and that might also help to add new
customer as well. Companies’ agents and employees should be ethical in approach and
they should have decent knowledge of services offered by their companies. Better
quality, transparency, knowledge sharing helps health insurance market share to grow.
3. Dr. PC Narware on his study “An empirical study on consumer’s perception towards
health insurance in Gwalior district of M.P “(2017) concluded that people are getting
aware regarding health insurance but this awareness has not extended the level of
subscription. As the result indicates that just 24.6% are being encrusted by the health
insurance and large chunks of the population is still financing health care expenditure
without taken health insurance.
4. Dr. Vijeta Chaudhary on her study (2017) “ health insurance ; A study on customer’s
satisfaction and awareness” stated that the health insurance industry is increasing at a
wild bound and so are the issues and challenges related to carrying in interaction with the
system. With growing health care cost, increasing non-refundable income and high out of
pocket expenditure for funding health care, the only way forward for financing healthcare

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in a country like India is through health insurance mechanism. Respondent’s knowledge
and confidence about health insurance is good. Further research indicates that awareness
about existence of health insurance is fine nut preference is average.
5. V. Sini and Dr C.R Karpagam (2016) in their study on the topic entitled “ A study on
policy holder awareness and preference towards health insurance” concluded that the
response of their study is neutral about tax benefits, risk coverage and saving, security
with high return which shows that they are unaware about the aspects and if the company
tries to give more advertisement about the product then the level of awareness about the
products can be increased in future period of time and if the company tries to reduce the
claim span of the respondents then the level of satisfaction of the policy holder can be
increased in future period of time.
6. Mrs. A Priya, Dr R. Srinivasan (2015) in their study on “consumer awareness towards
health insurance with special reference to Coimbatore city” stated that with the rising
health care cost, increase in disposable income and high out of pocket expenditure for
funding healthcare, the only way forward for financing healthcare in a country like India
is through health insurance mechanism. They also suggested that there should be clarity
of the disease covered by the policy, when and how a claim has to be submitted with the
insurance company.
7. Dr. P.Tripathy, Mr SS. Kanungo, MR. Satyajit Roy (2015) on their research paper
“consumer awareness towards health insurance with special reference to Bhubaneswar
city” concluded that the respondents have received the detailed information of the general
insurance through their advertisement and company agents/officers. Hence, they
suggested that the general insurance companies may give wide services to the customers
and maintain the attractive advertisement through television.
8. Nirav R. Joshi, Prof Surgi M .Shah on their study “An empirical study on consumer’s
perception towards health insurance in Ahmadabad city” (2015) concluded that many of
the respondents prefer health insurance policies through insurance agents, so health
insurance companies also increase their field staff to get more and more insurance
policies. They also suggested that companies should give more focus on demographic
criteria like age and income.

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RESEARCH GAPS
 The research was based on primary collection of data; there may be chances of human
error.
 The research was dependent on the information provided by the respondents who were
very hesitate in providing right and exact information and some are little bit of careless.
 Due to unwillingness of providing personal information, the respondents filled the
questionnaire casually.
 Non-co-operative behavior of respondent was a big problem in this survey.

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CHAPTER III
RESEARCH METHODOLOGY
In this study we used convenience sampling. The sample was selected according to the
convenience of study. This is an empharical study based on the survey method.
The study is conducted by using Primary as well as secondary source of data. The primary data is
collected from people through a structured Questionnaire. The secondary data was collected
from different sources; journals, health insurance bulletins, different articles, magazines,
websites etc.
Area of the study is Bhopal and Indore with the sample size of 100 respondents. We had done
this survey among earning people. We used the questionnaire (with both open and close ended
question) method for the collection of data. Due to time constraint and because it is minor
project, the sample size is limited to the 100 and the study is restricted to the limited areas of
Bhopal and Indore. Collected data is further analyzed by using various tools. In short:
Type of study: Empharical study
Sampling method: Survey method
Sampling area: Indore and Bhopal
Sampling size: 100
Sources of data: Primary and Secondary Source
Data collection tool: Questionnaire
Data analysis tool:

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CHAPTER IV
DATA ANALYSIS AND INTERPRETATION
PERCENTAGE TABLES
[TABLE NO.1]
DEMOGRAPHIC PROFILE OF THE RESPONDENT
S.No Demographic characteristics Number of respondents(TOTAL 100) Percentage
1 GENDER
MALE 65 65%
FEMALE 35 35%
2 AGE
LESS THAN 30 70 7%
30-40 19 19%
40-50 9 9%
MORE THAN 50 2 2%
3 EDUCATION
MIDDLE 3 3%
SECONDARY 3 3%
GRADUATION 49 49%
POST-GRADUATION 43 43%
OTHER 2 2%
4 OCCUPATION
EMPLOYED 30 30%
STUDENT 39 39%
PROFESSIONAL 15 15%
OTHER 16 16%
5 INCOME(Per annum)
LESS THAN 200000 57 57%
200000-400000 23 23%
MORE THAN 400000 20 20%
6 MARITAL STATUS
SINGLE 66 66%
MARRIED 34 34%

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INTREPRETATION
 The demographic character of the MRP are as follows :-
 The first characteristic is gender there are 65% male and 35% female, it means that there
is a male domination in this research project as compared to female respondent.
 out of a total respondent there are 70 respondent whose age is less than 30, 19 respondent
who ages between 30 to 40 years, there are 9 respondent whose age is between 40 to 50
years and there only two respondent whose age is more than 50 years
 Out of the total hundred responding, 3% pass the middle school and 3% pass the higher
secondary school, 49% are graduate and 43% are postgraduate and the remaining 2% is
others.
 As per the occupation point of view of the total respondent, 30% are employed and 39%
are students. Also 15% are professional and their total 16 person who are from other
background occupation.
 as per the income per annum of the respondent, they are 57 respondent whose income is
less than 2 lakh per annum, there are 23 respondent who is annual income is between 2
lakh to 4 lakh and there are 20 respondent whose income is more than 4 lakh.
 Out of the total respondent 64% of responded are single whereas 34 persons are married
take me that medical responded a student and are single.
[TABLE NO. 2]
Health insurance policies purchased by respondents
FACTORS NO. OF RESPONDENTS PERCENTAGE
Yes 64 64%
No 36 36%
TOTAL 100 100%

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Graphical representation of data
INTREPRETATION
Out the total 100 respondents, 64 of them have health insurance policy and 36 of them
don’t have any insurance policy.
In the point of view through percentage, 64% respondents have insurance policy and the rest
36% of them don’t have insurance policy.
[TABLE NO. 3]
AWARENESS AMONG PEOPLE
(Who don’t have Health Insurance)
Yes 32 89%
No 4 11%
TOTAL 36 100%
Yes
64%
No
36%

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INTREPRETATION
Out of the total 36 respondent who don’t have health insurance, 32 of them have awareness
regarding health insurance and the rest 4 of them don’t have any awareness regarding health
insurance.
In the percentage point of view, 89% of the respondents have complete awareness regarding
health insurance and the rest 11% of them don’t have any awareness regarding health insurance.
[TABLE NO. 4]
SOURCES OF HEALTH INSURANCE
(Who have Health Insurance)
Mass Media 22 34%
Social Media 9 14%
Agents 28 44%
Others 5 8%
TOTAL 64 100%
89%
11%
Yes
No

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INTREPRETATION
Out of the total 64 respondent who have health awareness, 22 of them have got there
awareness from mass media, 9 of them got awareness from social media, 28 of them got
awareness from agents whereas 5 of them got awareness from other sources.
In the percentage form, awareness is from 34% from mass media, 14% from social media,
44% from agents and the rest 8% is from other source.
[TABLE NO.5]
SOURCES OF HEALTH INSURANCE
(Who don’t have Health Insurance Policy)
Mass Media 18 56%
Social Media 7 22%
Agents 5 16%
Others 2 6%
TOTAL 32 100%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Mass
Media
Social
Media
Agents Others
PERCENTAGE(%)

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INTREPRETATION
From the total 32 respondents who don’t have health insurance policy but have awareness
regarding health insurance policy, 18 of them have awareness from mass media, 7 of them from
social media, 5 of them from agents and the remaining of them from other sources.
In the percentage terms, the source of awareness is 56% from mass media, 22% is from social
media, 16% is from agents and the rest 6% is from other sources.
[TABLE NO. 6]
OWNED HEALTH INSURANCE POLICY TYPE
(Who have Health Insurance Policy)
Individual 20 31%
Family 44 69%
TOTAL 64 100%
0%
10%
20%
30%
40%
50%
60%
Mass Media Social
Media
Agents Others
Series1

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INTREPRETATION
Out of the total 64 respondents who have health insurance, 20 of them have insurance policy
for their own and the remaining 44 of them have family coverage of health insurance.
In the percentage point of view, 31% of the respondents have health insurance for
himself/herself only whereas 69% have health insurance for their whole family.
[TABLE NO.7]
PREFERABILITY OF HEALTH INSURANCE COMPANIES
FACTORS NO.OF RESPONDENTS PERCENTAGE
Public Sector 35 55%
Private Sector 28 44%
Others 1 2%
TOTAL 64 100%
31%
69%
Individual
Family

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INTREPRETATION
Out of the total 64 respondents, 35 of them choosepublic sectorand 28 of them
private sectorand the rest 1 respondentchooseother sector.
In the percentage, 55% choosepublic sectorand 44% chooseprivate sectorand the
remaining 2% chooseother sector
[TABLE NO.8]
PREFERABILITY OF HEALTH INSURANCE COMPANIES
Public Sector 15 47%
Private Sector 14 44%
Others 3 9%
TOTAL 32 100%
0%
10%
20%
30%
40%
50%
60%
Public Sector Private Sector Others
PERCENTAGE(%)

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INTREPRETATION
Out of the total 32 respondents, 15 of them choose public sector and 14 of them choose private
sector while 3 of them choose other sector.
In the percentage, 47% choose public sector and 44% choose private sector and remaining 9%
choose other sector.
[TABLE NO. 9]
TERM PREFERENCE FOR MEDICAL INSURANCE
(Who have Health Insurance)
TERM NO. OF RESPONDENTS PERCENTAGE
Monthly 26 41%
Quarterly 4 6%
Half-Yearly 5 8%
Yearly 24 38%
Others 5 8%
TOTAL 64 100%
0%
10%
20%
30%
40%
50%
Public Sector Private Sector Others
PERCENTAGE(%)

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INTREPRETATION
Out of the total 64 respondents, 26 choose monthly, 4 of them choose quarterly, 5 go them
choose half yearly, 24of them choose yearly and 5 of them choose other.
In the percentage, 56% choose monthly, 6% choose quarterly, 8% choose half yearly, 38%
choose yearly and 8% choose other.
[TABLE NO. 10]
TERM PREFERENCE FOR MEDICAL INSURANCE
TERM NO. OF RESPONDENTS PERCENTAGE
Monthly 11 34%
Quarterly 7 22%
Half-Yearly 4 13%
Yearly 10 31%
TOTAL 32 100%
Monthly
41%
Quaterly
6%
Half-Yearly
8%
Yearly
37%
Others
8%

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INTREPRETATION
Out of the total 32 respondents, 11 of them choose monthly, 7 of them choose quarterly, 4 of
them choose half yearly, 10 of them choose yearly.
In the percentage, 34% choose monthly, 22% choose quarterly, 13% of them choose half yearly,
31% of them choose yearly.
[TABLE NO. 11]
AGENT CONSULTING PREFERABILITY
( who have health insurance policy)
Yes 53 83%
No 11 17%
TOTAL 64 100%
Monthly
34%
Quaterly
22%
Half-Yearly
13%
Yearly
31%

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INTREPRETATION
Out of total 64 respondents who have taken health insurance, 53 of them had consulted an agent
before buying a health insurance policy and 11 of them don’t consult to an agent.
In percentage, 83% have consulted to an agent and 17% don’t consult to an agent.
[TABLE NO.12]
PURPOSE OF GETTING HEALTH INSURANCE POLICY
PURPOSE NO. OF RESPONDENTS PERCENTAGE
Tax planning measures 1 2%
To avail good quality medical treatment 25 39%
Risk coverage against future illnes,old age etc. 35 55%
Other 3 5%
TOTAL 64 100%
83%
17%
Yes
No

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Interpretation
Out of the total 64 respondents, 1 respondent took health insurance for tax planning, 25 is for to
avail good quality medical treatment, 35 for to cover risk against future illness and 3 respondent
for other cause.
In percentage term, , 2% respondent took health insurance for tax planning, 39% is for to avail
good quality medical treatment, 55% for to cover risk against future illness and 5% respondent
for other cause.
[TABLE NO. 13]
BARRIERS IN SUBSCRIPTION
BARRIERS NO. OF RESPONDENTS PERCENTAGE
Low salary 16 50%
Don’t want to buy 4 13%
Saving in some other areas to meet health care 3 9%
0%
10%
20%
30%
40%
50%
60%
Tax planning
measures
To avail good
quality medical
treatment
Risk coverage
against future
illnes,old age
etc.
Other

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needs
Lack of knowledge 9 28%
Other 0 0%
TOTAL 32 100%
INTREPRETATION
The barriers in buying health insurance are as follows, 16 of them have low salary, 4 of them
don’t want to buy, 3 of them have saving in other areas, 9 of them have lack of knowledge and 0
have other reasons.
In the percentage value, The barriers in buying health insurance are as follows, 50% of them
have low salary, 13% of them don’t want to buy, 9% of them have saving in other areas, 28% of
them have lack of knowledge and 0% have other reasons.
0% 10% 20% 30% 40% 50%
Low salary
Don’t want to buy
Saving in some other areas to…
Lack of knowledge
Other
50%
13%
9%
28%
0%
PERCENTAGE(%)

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[TABLE NO. 14]
WILLINGNESS LEVEL OF PURCHASING HEALTH INSURANCE POLICY
LEVELS NO. OF RESPONDENTS PERCENTAGE
1 5 15%
2 9 26%
3 7 21%
4 4 12%
5 9 26%
TOTAL 34 100%
INTREPRETATION
Out of total 34 respondents who don’t have insurance policy, 5 of them are strongly disagree to
buy health insurance, 9 of them disagree, 7 of them are neutral, 4 of them are agree and 9 of
them are strongly agree to buy health insurance.
0%
20%
40%
60%
80%
100%
1 2 3 4 5 TOTAL
WILLINGNESS LEVEL OF
PUCHASING HEALTH INSURANCE

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CHAPTER V
FINDINGS
i. On the basis of the analysis it has been find out that, out of total 100 respondents 65 are
male and 35 are female respondents. It means that the males’ respondents are in majority
as compared to female respondents.
ii. 7% of the respondents have age less than 30 years, 19% have age between 30-40 years,
9% have age 40-50 years and approximately 2% of the respondents have less more than
50 years. It means that majority of the respondents are young and their age is less than 30
years.
iii. In the regards of educations background, 3% are middle school pass out, 3% are
secondary pass out, 49% are graduate and 41% are post graduated and the remaining 2%
is from others. It means that maximum respondents are graduate and are followed by post
graduation.
iv. From the total 100 respondents, 30% are employed and 39% are students, 15% are
professionals and the rest 16% have some other occupations background. It means that
maximum respondents are students and are followed by employed person.
v. In the regards of the questions related to income(per annum), 57% of the respondents
have income less than 2 lakhs , 23% have income between 2-4 lakhs and there are only
20% respondents having income more than 4 lakhs. It means that maximum respondents
are students whose annual income is less than 200000.
vi. Out of the total 100 respondents, 66% are single whereas 34% are married. It means that
maximum respondents are single and minority is of married respondents.

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CONCLUSIONS
 Health Insurance becomes very important these days for everyone. Due to expensive
health care services, it is not affordable for everyone to get appropriate health
services. Health Insurance has made it easy for people to afford it, due to lack of
awareness.
 A significant proportion of the sample was male members. Majority of the
respondents belonged to the age groups of 30-40 years and were unmarried.
 Maximum respondents were graduate followed by post graduate and majority of them
are students.
 As far as the level of income is concerned, a major percentage of the respondents fall
in the annual income less than 2 lakhs.
 Although, health insurance is not a new concept and the people are also getting aware
about it, which mainly comes from social media followed by mass media and
televisions and then agents.
 While analyzing the reason for having health insurance, it is found that most
governing reason behind the subscription of health insurance was “risk coverage
against future illness”. The second main reason behind subscription of health
insurance was to avail good quality medical treatment.
 A significant proportion of respondents with health insurance opted for public
insurance company for the subscription of group health insurance policy.

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SUGGESTIONS
 The competitive climate in the Indian health Insurance market has changed
dramatically over the last one decade. At the same time, changes have been taking
place in the government regulations and technology. The expectation of
customers is also changing. The existing General Insurance companies have to
introduce many new products in the market which have competitive Advantages
over the products of Private Insurance. The Private Insurance companies have
introduced some new innovative services to attract the customers by offering
more bonus facilities and attractive services.
 It is high time that strategies were chalked out so as to tackle customer service
issues before it is too late.
 The General Insurance Companies in the study area should concentrate towards
young and middle aged customers and establish a good relationship by providing
an attractive service. Since the young respondents’ relationship with the insurance
can be longer due to their age factor,
 Simultaneously the middle aged respondents create a good relationship properly
whenever they approach to avail their services in the selected General Insurance
Companies.
 The respondents have received the detailed information of the General Insurance
through their advertisement and company agents / officers. Hence, it is suggested
that the General Insurance companies may give a wide service in the customers
and maintain the attractive advertisement.
 The General Insurance companies, should gives the proper intimation of the
renewal of policies and giving proper response of company officials and agents
for avoid making false promises and misleading information to the customers in
terms of premium amounts, due date and bonus facility.
 It is also highly recommended that the Company has to devise the strategies to
increase the premium growth rate over the target growth rate in case of Personal
accident and Workmen’s compensation schemes, since the actual growth was not
significant.

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LIMITATIONS
 Every research work has its own limitations. In this particular research biggest limitation
is interest of respondents.
 Sample of this research may not represent whole population as sample size is limited i.e.
100.
 Time constraint was there. Research was conducted in time period of two months.
 Responses of respondents might be biased.
 As research is conducted in only two cities i.e. Indore and Bhopal, outcomes might not be
applicable to other cities

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CHAPTER VI
REFERENCES
1) Anjali Jacob 2018, a study on consumer perception towards health insurance in Ranny
thaluk, St. Thomas College, Ranni, Kerala.
2) Durgesh Agnihotri, Pallavi Chaturvedi 2017, Asst. professor in PSIT Kanpur and Asst.
Professor in PSIT college of engineering, A study on consumer buying behaviour towards
health insurance in Kanpur city.
3) Dr PC Narware 2017, Lecturer government women polytechnic college Gwalior, Madhya
Pradesh India, An empirical study on consumers perception towards health insurance in
special reference of Gwalior district of M.P.
4) V. Sini and Dr. C. R. Karpagam 2016, Assistant Professor, School of Commerce, CMS
College of Science and Commerce Coimbatore, Tamilnadu, Assistant Professor,
Department Commerce, LRG Government Arts College for Women, Tripura, Tamilnadu,
A STUDY ON POLICY HOLDERS AWARENESS AND PREFERENCE TOWARDS HEALTH
INSURANCE.
5) Mrs.A.Priya, Dr. R.Srinivasan, Assistant Professor in Department of Commerce with
Computer Applications, Dr.SNS Rajalakshmi college of Arts &Science, Coimbatore, India,
Associate Professor, Department of Accounting and Finance, Adigrat University, Adigrat,
Ethiopia, A Study on Customer Awareness towards Health Insurance With Special
Reference to Coimbatore City.
6) Dr. P. Tripathy Ravenshaw University Mr. S.S. Kanungo Ravenshaw University Mr.
Satyajit Roy, Ravenshaw University, CUSTOMER AWARENESS TOWARDS HEALTH
INSURANCE WITH SPECIAL REFERENCE TO BHUBANESWAR CITY , Health Insurance: A
Study on Customers Satisfaction and Awareness
7) Dr. Vijeta Chaudhary, Ph.D. M.Phil. (Economics), Faculty of General Management, N. L.
Dalmia Institute of Management Studies and Research, Srishti, Sector-1 Mira Road (East)
Mumbai, 401104, consumer preference before buying health insurance,

33
8) Prof. Nirav R Joshi, Prof. Suraj M. Shah 2015, assistant professor, V.M Patel institute of
management(faculty of management), Ganpat University, Gujarat, and research
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