Change in Perception About Insurance among the Youth due to COVID 19

Authors

  • Kushal De Assistant Professor, Department of Commerce, Dhruba Chand Halder College, Kolkata
  • Rishav Sarkar Independent Researcher, Balurghat, Dakshin Dinajpur

DOI:

https://doi.org/10.33516/maj.v55i9.38-41p

Keywords:

No Keywords.

Abstract

Insurance is one of the most neglected sectors in developing economies and India is no exception. Calamities and pandemics usually shake up the population reminding them about necessities for adequate cover. Indian economy has been severely hit by COVID 19 and the real pictures of the public healthcare system along with exploitation by the private players have been exposed. Widespread layoffs in the already troubled job market and series of natural calamities have further created insecurity in the hearts of people. Under these circumstances, the present study tries to assess the perceptions of young India about insurance through a survey conducted on a representative population of financially independent youth residing in West Bengal. The tabulated results show that the pandemic has raised the level of awareness regarding insurance among the youth and many have realized that they are underinsured. Mediclaim and term policies have gained widespread acceptance even among the youth.

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Published

2020-09-30

How to Cite

De, K., & Sarkar, R. (2020). Change in Perception About Insurance among the Youth due to COVID 19. The Management Accountant Journal, 55(9), 38–41. https://doi.org/10.33516/maj.v55i9.38-41p

Issue

Section

Cover Story

References

Shekhar, R. and Pandey, S. (2020). Adjusting to the new normal- Impact of Covid-19 in insurance industry [Conference presentation]. APA 2020 Convention, Varanasi, India.

Roy, K. S. (2020). Gasping for Breath: Do you really need coronavirus specific health insurance? Published in The Finapolis. (July 22-28, 2020), pp 1.

The World Bank Group. (2020, March 29). Covid-19 outbreak- Insurance implications and response. http://pubdocs.worldbank.org/ en/687971586471330943/COVID-19-Outbreak-Global-Policy-Actions-on-Insurance.pdf.

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