PERCEPTION TOWARDS LIC’S MICRO INSURANCE POLICIES AMONG POLICY HOLDERS

Micro insurance is generally, but inaccurately, referred to as a new concept. It first appeared as a new financial service within microfinance and then developed into a sector of its own. Micro insurance in India has broadly developed as a sub sector of the insurance industry. India is among the few countries to draft and implement specific micro insurance regulations. However, rural and social sector insurance and micro insurance have always been considered similar by the regulator IRDA. Micro insurance refers to the insurance of the low-income people. It is very different from the other types of the insurance available in