A Study On The Awareness And Perception Of Postal Life Insurance Among Policyholders In Northern Districts In Tamil Nadu

Abstract

India Post has contributed significantly to the country's socioeconomic growth. Even while mail is the primary product of the national postal organization, it also operates in the financial services industry. Small savings plans, money transfer services, and postal life insurance are among Indian Post's financial offerings. Rural residents and government/semi-government workers are the two main client sectors it has been providing insurance products to. Over 1.5 lakh post offices make up India Post's nationwide network, which includes locations in hills, valleys, rural and urban areas, and more. India Post can compete with all of the nation's major financial institutions, including banks and insurance providers, thanks to its firmly established network system. An analysis of the current state of the postal divisions' life insurance industry in Tamilnadu's Northern Region is attempted in this paper. According to secondary data analysis, the number of new accounts, premium collection, and sum assured are trending downward in practically every division under the northern area. To restore and maintain its competitive edge in this situation, post offices must improve Postal Life Insurance marketing in both rural and urban areas.