Insurance in lay man’s term means protection from financial loss. It is basically a way of managing risk against uncertain loss
and proves to be a vital instrument for safety. In India, the insurance industry has transformed vibrantly, after liberalization,
India has been viewed as one of the top emerging market, thus, opening opportunities for large insurance companies in the
world to penetrate in the Indian market.
The growth of the insurance sector is viable only when the people understand the importance of insurance in their day to day
life. While the urban population have invested in insurance policies, it is imperative to educate and create awareness about
the benefits of insurance among the rural population. Insurance education helps a customer understand his/her needs and
risks, the availability of insurance for managing risks, the importance of possessing an insurance product and knowing about
the dos & don’ts before and after the purchase of an insurance policy. Insurance education, thus, helps to access the services
of insurance sector in an informed manner and to promote market efficiency and flow of proportioned information for orderly
growth of insurance industry. With more than two thirds of population living in rural areas and no access to insurance products,
the insurance industry has to go miles to reach the unreached populous of the nation.
