Relationship between Demographic Factors and Information Sources: A Study of Life Insurance Policyholders
DOI:
https://doi.org/10.31305/rhimrj.2026.v13n07.011Keywords:
Life Insurance, Demographic Profile, Policyholders, Insurance Purchase Decision, Financial Security, Descriptive AnalysisAbstract
Life insurance is one crucial means of financial security and risk protection for its policyholders and family. The current paper intends to examine the demographic characteristics of policyholders in Himachal Pradesh. The paper seeks to study the gender and age wise profile distribution of the respondents and identify the preferred sources of information used for policy purchase decision making. For this study, primary data was collected from the respondents who are life insurance policyholders and the persons who intend to buy life insurance in the near future. A sample of 402 respondents was collected using purposive sampling. Demographic distribution of the respondents has been analyzed using descriptive statistical tools namely frequency and percentage analysis. The analysis shows that the larger number of policyholders are in the age group 31-50, signaling that there is increased insurance uptake at the active age group. Most of the respondents are males. The study also examines the preference given by respondents to information sources for policy purchase decisions to understand the most effective source in policy purchase decision making.
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