AN ANALYTICAL STUDY ON INSURANCE AWARENESS AND INVESTMENT BEHAVIOR WITH SPECIAL REFERENCE TO STAR HEALTH INSURANCE

Insurance plays a crucial role in financial planning by providing risk protection and long-term investment opportunities. Despite the growing importance of insurance products in modern financial markets, awareness and understanding of insurance among individuals remain uneven, particularly in developing economies. Limited financial literacy, misconceptions regarding insurance policies, and inadequate dissemination of information often influence individuals' investment decisions. This study examines the relationship between insurance awareness and investment behavior among individuals and evaluates how awareness levels influence financial decision-making related to insurance products.

The study adopts a quantitative research approach using secondary data sources such as reports published by the Insurance Regulatory and Development Authority of India (IRDAI), government publications, and financial sector reports. Analytical tools including correlation and regression analysis are used to examine the relationship between insurance awareness indicators and investment behavior trends. Hypothetical statistical results indicate a positive relationship between insurance awareness and the likelihood of individuals adopting insurance as a financial investment instrument. Higher awareness levels significantly influence investment diversification and long-term financial planning.

The study contributes to the literature by highlighting the role of financial awareness in shaping investment decisions related to insurance products. The findings offer valuable insights for policymakers, financial institutions, and insurance companies in designing strategies to improve financial literacy and expand insurance penetration.