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A STUDY ON CONSUMER BEHAVIOUR TOWARDS HEALTH INSURANCE

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November
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IJRSS Volume 4, Issue 4 ISSN: 2249-2496
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A STUDY ON CONSUMER BEHAVIOUR TOWARDS

HEALTH INSURANCE

[Link] Devi*

ABSTRACT

Health is wealth. India is gradually becoming health conscious. Indians have realized the
importance of health insurance. Owing to this realization, the medical insurance sector is one of
the fastest growing segments in India today. The new economic policy and liberalization process
followed by the Government of India since 1991 paved the way for privatization of insurance
sector in the country. . According to the Investment Commission of India the healthcare sector
has experienced phenomenal growth of 12 percent per annum in the last 4 years. All rising
income levels and growing elderly population factors are driving this growth. In addition,
changing demographics, disease profiles and the shift from chronic to lifestyle diseases in the
country has led to increased spending on healthcare insurance products. The study aims to
evaluate the consumers’ awareness level of awareness about health insurance and the factors
influenced them in selection of policy(s). It was found that consumers are aware of insurance
schemes. And certain factors such as policy features, policy benefits have significant influence
on the selection of insurance policy and purpose of holding it.

*
Assistant Professor, Department of Commerce with Computer Application, SNR Sons College,
Coimbatore – 641045.

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INTRODUCTION

Health is wealth. India is gradually becoming health conscious. Indians have realized the
importance of health insurance. Owing to this realization, the medical insurance sector is one of
the fastest growing segments in India today.
The new economic policy and liberalization process followed by the Government of India
since 1991 paved the way for privatization of insurance sector in the country. Health insurance,
which remained highly underdeveloped and a less significant segment of the product portfolios
of the nationalized insurance companies in India, is now poised for a fundamental change in its
approach and management. The Insurance Regulatory and Development Authority (IRDA) Bill,
recently passed in the Indian Parliament, is important beginning of changes having significant
implications for the health sector. About Rs 6,000 crore worth of health insurance business in the
country is managed by Insurers from the public sector: National Insurance Company, New India
Assurance, Oriental Insurance and United India Insurance. But the health insurance market
covers very smaller part of the total population (about 10per cent) in India. Presently, schemes
like Voluntary health insurance schemes or private-for-profit schemes; Employer-based
schemes; Insurance offered by NGOs / community based health insurance, and Mandatory health
insurance schemes or government run schemes (ESIS, CGHS) are found in India. The Indian
healthcare industry is seen to be growing at a rapid pace and is expected to become US$280
billion industry by 2020. The Indian healthcare market was estimated at US$35 billion in 2007
and is expected to reach over US$70 billion by 2012 and US$145 billion by 2017. According to
the Investment Commission of India the healthcare sector has experienced phenomenal growth
of 12 percent per annum in the last 4 years. All rising income levels and growing elderly
population factors are driving this growth. In addition, changing demographics, disease profiles
and the shift from chronic to lifestyle diseases in the country has led to increased spending on
healthcare insurance products.
Health Insurance in India

The health care system in India is characterized by multiple systems of medicine, mixed
ownership patterns and different kinds of delivery structures. Exhibit: 1 provides the description
of key stakeholder in private health insurance and their inter-relationships.

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EXHIBIT:1

STANDARD HEALTH INSURANCE MODEL I

Regulator

Insurer
government or Private (For
profit or non profit)

Premium Fee for services

TPA Reimbursements

Customer Health care provider

Individual and/or Government and/or
employer making regular private (for profit or
payments to a fund non profit) private
Health Services

From the above exhibit, we can see that there are three main stakeholders in the health
insurance system. These are insurance companies, healthcare providers, and customers. Other
than these, two more parties which are important and involved in the process are third party
administrators (TPA) and regulator.

REVIEW OF LITERATURE

Jama (1997)3 discusses the needs, challenges, and potential action steps for
increasing the prominence of the user's perspective in 3 areas: (1) the conceptualization
and definition of quality; (2) the measurement of quality; and (3) routine quality
assessment and improvement. The article concludes by making recommendations about

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the role that different agencies and organizations can and should play in meeting these
challenges.

Kronick and Gilmer (1999)6 says that healthcare expenditure is another important
variable affecting health insurance purchase. Relation of health insurance purchase
decision and health expenditure is based in the premise that families which have higher
chances of requiring hospitalization will have higher probability of buying health
insurance. Some other socio-economic factor like age, education etc, have also been to
be important factors affecting health insurance purchase.

Reagan, Brostoff and Hofmann (2001)8 Indian insurance market (both life and
health) is a practically untapped market and therefore, offers immense potential to all the
players both new and old. Furthermore the rise in purchasing power of people owing to
high disposable income has also made the Indian market very attractive. The insurance
companies today are leaving no stone unturned to entice the customers. The competition
has increased tremendously as growing numbers of competitors selling essentially the
same products have entered the field from outside the traditional insurance industry
According to Barrett and Conolon (2003)13 health insurance choice essentially
entailed a simple decision-whether or not to purchase private health insurance. Binary
discrete choice models using either logit or probit has been used to analyse determinates
of this type of purchase decision.

Ramesh Bhat and Nishant Jain (2007)20 in their empirical work health insurance
schemes are increasingly recognized as preferable mechanisms to finance health care
provision. In this direction micro health insurance schemes and community based health
insurance schemes are assuming significant importance n reaching, large number of
people. The study uses two-state model to examine this issue. First, we determine the
factors which affect the insurance purchase decisions and at second level we focus on
studying factors which affect the amount of insurance purchase using heckman tow stage
estimation procedure.

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OBJECTIVES OF THE STUDY

To know the socio-economic status of health insurance policy takers’ in the study area.
To evaluate the consumers’ awareness level of awareness about health insurance .
To analyze the factors influencing the consumers in selection of policy(s).

RESEARCH METHODOLOGY
The study is both explorative and descriptive in nature. First stage of the research was
exploratory in nature. This was done in two phases. The initial phase was to undertake consists
of detailed review of secondary data available on health insurance business in India, its growth
and development and the perception of policy holders towards it. The second phase of review of
literature helped the researcher in framing questionnaire for the study. Second stage of the study
was descriptive research, which was carried out at the second stage by applying a survey method.
Data for the study were collected from health insurance policy holders in Coimbatore city. The
tool used for data collection is a well structured questionnaire.

AREA OF THE STUDY

Coimbatore city is selected as the area of the study. Growing income level and rapid
economic changes among the households in Coimbatore city has motivated the researcher to
select this region for the field research.

SAMPLE SIZE
In India nearly twenty three insurance companies are currently providing health insurance
services. In the current study a blind fold survey was conducted, that is the respondents are not
classified on the bases of the service providers. The study is based on cluster analysis. The entire
geographical area of Coimbatore city is divided into four North, South, East and West Zone.
From each zone a sample of fifty (50) respondents’ were chosen as survivable population that is
summed to two hundred in totals. A convenient sampling technique has been adopted by the
researcher for collection of primary data. Primary data base of the policy holders’ were collected
from the respective insurance company agents and based on the information gathered. The
respondents’ were chosen for data collection with help of references groups, friends, relatives,
neighbours etc.

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DATA SOURCE
The data base of the study consists of both primary and secondary data that helped the
researcher in systematic frame work of the study. The well structured questionnaire become
basic data collection tool for collection of primary data. The secondary data are collected from
books, journals, magazines, research works and from insurance related books and web-sites.
STATISTICAL TOOLS APPLIED
The data collected through the well structured interview schedule were classified and
tabulated for analysis in accordance with the outline laid down for the purpose of justifying the
objective framed at the time of developing research design. The statistical tools applied in this
study are:

Frequency distribution
Weighted Average
Likert’s Scaling Technique
One-Way ANOVA
Rotation Factor Analysis
DATA ANALYSIS AND INTERPRETATION
TABLE : 1 Demographic Profile of the respondents
Demographic Number of
[Link] Classification Percentage
characteristics respondents
Male 125 62.5
1 Sex
Female 75 37.5
Below 20 years 9 4.5
21-30 years 76 38
2 Age 31-40 years 61 30.5
41-50 years 40 20
51-60 years 14 7
up to HSC 20 10
Graduate 86 43
3 Education
Post Graduate 50 25
ITI / Diploma 31 15.5

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Others 13 6.5
Business 35 17.5
Government
Employee 35 17.5
4 Occupation
Private employee 69 34.5
Professional 38 19
Others 23 11.5
Married 130 65
5 Marital status
Unmarried 70 35
Rs.1-2 lakhs 47 24.7
Rs.2-3 lakhs 64 33.7
Annual
6 Rs.3-4 lakhs 34 17.9
Income
Rs.4-5 lakhs 40 21.1
Above 5 lakhs 5 2.6

It has been inferred that majority of the respondents of the current study are male i.e.,
62.50 per cent and they are primarily fall under that age category of 21-30 years i.e., 25 per cent.
Whereas 13.50 per cent women policy holders are aged between 31-40 years. It has been inferred
that 43 per cent of the health policy holders are graduates and it is assumed they were aware of
health insurance and 34.50 per cent of the respondents’ employed in private institutions. It has
been observed that 65 per cent of health insurance policy holders in the study area are married
and 33.70 per cent of the respondents’ yearly earning income ranges within Rs. 2-3 lakhs.

AWARENESS ABOUT HEALTH INSURANCE AND THE FACTORS INFLUENCED

THE POLICY HOLDERS

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TABLE : 2 PURPOSE STATED BY THE RESPONDENTS FOR OWING A
HEALTH INSURANCE POLICY
Sl. No. of the
Scheme Percentage
No Respondents
1 Expenses to cover hospitalization 60 30.00
2 Unexceptional risk 96 48.00
3 Tax benefit 35 17.50
4 Others 9 4.50
Total 200 100
Source: Primary Data

The above table indicates that out of 200 respondents surveyed that 48per cent of them
are aware of unexceptional risk covered by medi-claim policies and this is stated as the primary
reason of products related features influence on them for owing a health insurance policy and 97
per cent of the sample populations’ are aware of health expenses covered by their health
insurance policy.

TABLE : 3 AWRENSS ON NATURE OF EXPENSES COVERED BY THE HEALTH

INSURANCE CLAIM

No. of the
Sl. Proportionate
Nature Respondents
No Percentage
N=200
1 Hospitalization expenses 194 97.00
2 Boarding and nursing expenses 118 59.00
3 Surgeon’s fees, Consultant’s fees, Anesthetist’s fees 139 69.50
4 Cost of medicines and drugs. 78 39.00
Emergency ambulance charges for transporting the
5 122 61.00
insured patient.
Pre-hospitalization expenses upto 30 days before the
6 77 38.50
date of admission into the hospital
7 Room rent, boarding expenses and nursing expenses 117 58.50

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up to 1% of sum insured per day. It also includes
nursing care, RMO charges, Fluid / Blood
8 Transfusion / Injection administration charges 86 43.00
In case of admitted in ICU, the double the sum
9 94 47.00
insured per day
Surgeon / Anesthetists/ Consultants / Medical
10 96 48.00
Practitioner / Specialist Fees
Anesthetists, blood, oxygen, operation theatre charges,
surgical appliances, cost of medicines and drugs,
11 diagnostic materials, x-ray, dialysis, chemotherapy, 96 48.00
radiotherapy, artificial limbs, pacemaker and other
similar expenses.
Hospitalization expenses (excluding cost of organ)
12 70 35.00
incurred for donor in respect of organ transplant
Pre and post hospitalization are covered up to 30 days
13 prior to hospitalization and 90 days after 77 38.50
hospitalization
Critical illnesses are covered under a sub limit of each
14 10 5.00
hospitalization
Source: Primary Data
The above table in detail list out respondents’ awareness towards various expenses covered
under a particular health insurance scheme. From the above table it has inferred that 97 per cent
of the sample populations’ are aware of health expenses covered by their health insurance policy.
Followed by 69.50 per cent have gather good information on the surgeon’s fees, Consultant’s
fees, Anesthetist’s fees covered under their health insurance scheme.
A list of ten variables were framed as queries those rose information on the most
influencing factors that effected the sample respondents’ to own a health insurance policy. As
per the results of sample survey it has inferred that influences of reference by family / friends has
been scored first with high mean score of 4.15 on Likert’s scale of five.

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TABLE : 4 FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE
POLICY

Very Very Total Weighted

Reasons of choice High Moderate Low Rank
High Low Sum Mean
Reference by family /
83(41.50) 75(37.50) 37(18.50) 2(1.00) 3(1.50) 830 4.15 1
friends
Regulation of the
41(20.50) 90(45.00) 36(18.00) 31(15.50) 2(1.00) 738 3.69 8
government
Reputation / reliability
36(18.00) 66(33.00) 80(40.00) 11(5.50) 7(3.50) 708 3.54 10
of the service provider
Low service /
39(19.50) 79(39.50) 53(26.50) 17(8.50) 12(6.00) 711 3.56 9
processing cost
Influence of the sales
61(30.50) 90(45.00) 36(18.00) 7(3.50) 6(3.00) 799 4.00 2
people
Wise options 67(33.50) 64(32.00) 45(22.50) 15(7.50) 9(4.50) 762 3.81 3
High return on 54
77(38.50) 42(21.00) 16(8.00) 11(5.50) 745 3.73 6
investment (27.00)
Reference by
54(27.00) 81(40.50) 38(19.00) 18(9.00) 9(4.50) 755 3.78 5
workplace
Healthy Political and
54(27.00) 74(37.00) 43(21.50) 21(10.50) 8(4.00) 746 3.73 6
legal situations
Miscellaneous 68(34.00) 61(30.50) 44(22.00) 18(9.00) 9(4.50) 760 3.80 4
Source: Primary Data

To measure the degree of association between the purpose stated by the sample
population for holding a health insurance policy and the influences of varies factors on them, the
following hypothesis is framed and the same is tested with the help of one-way ANOVA test.
Ho: There exists no association between the purposes stated by the health insurance
customers’ for owing a policy and the factors that influenced them in selection of insurance
service provider(s).
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TABLE: 5
RESULT OF ANOVA TEST
FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE POLICY
Sum of Mean
Variables Source DF F Sig
Square Square
Between Groups 2.155 3 .718
Reference by family / .955 .415
With in Groups 147.400 196 .752
friends
Total 149.555 199
Between Groups 2.123 3 .708
Regulation of the .704 .551
With in Groups 197.032 196 1.005
government
Total 199.155 199
Reputation / Between Groups 5.741 3 1.914
2.091 .103
reliability of the With in Groups 179.414 196 .915
service provider Total 185.155 199
Between Groups 1.362 3 .454
Low service / .385 .764
With in Groups 231.358 196 1.180
processing cost
Total 232.720 199
Between Groups 2.848 3 .949
Influence of the sales 1.058 .368
With in Groups 175.907 196 .897
people
Total 178.755 199
Between Groups 5.092 3 1.697
1.376 .251
No other options With in Groups 241.783 196 1.234
Total 246.875 199
Between Groups .723 3 .241
High return on .193 .901
With in Groups 244.232 196 1.246
investment
Total 244.955 199
Between Groups 9.664 3 3.221
Reference by 2.815 .051
With in Groups 224.291 196 1.144
workplace
Total 233.955 199
Healthy Political and Between Groups 4.020 3 1.340 1.123 .341

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legal situations With in Groups 233.855 196 1.193
Total 237.875 199
Between Groups 4.420 3 1.473
1.141 .334
Miscellaneous With in Groups 252.975 196 1.291
Total 257.395 199
Level of Significance: 5 per cent

From the above table it has inferred that the calculated F-values for all the 10 variables are
greater than the significances value at five per cent. Therefore, the hypothesis framed stands
rejected. It is concluded that there exists association between the purposes stated by the health
insurance customers’ for owing a policy and the factors that influenced them in selection of
insurance service provider(s).
Factor analysis is a statistical technique widely used in analyzing psychological, social
sciences and business data. In business research, factor analysis is usually applied to correlation
between the variables under study. In the current study factor analysis is applied to measure
relationships among purpose of owing a health insurance policy and interrelated factor variables
are examined and represented in terms of a few underlying factors.

COMMUNALITIES
FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE POLICY
Variables Initial Extraction
X1Reference by family / friends 1.000 .956
X2Regulation of the government 1.000 .726
X3Reputation / reliability of the service provider 1.000 .804
X4Low service / processing cost 1.000 .896
X5Influence of the sales people 1.000 .839
X6Wise options 1.000 .880
X7High return on investment 1.000 .948
X8Reference by workplace 1.000 .822
X9 Healthy Political and legal situations 1.000 .943
X10 Miscellaneous 1.000 .912
Extraction Method: Principal Component Analysis
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In order to provide a more parsimonious interpretation of the results, 10-item scale was
then Factor analyzed using the Principal Component method with Varimax rotation.

TOTAL VARIANCE
FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE POLICY

Rotation
Extraction Sums of Squared Sums of
Initial Eigen values
Loadings Squared
Components Loadings
Per cent Per cent
Cumulative Cumulative
Total of Total of Total
per cent per cent
Variances Variances
1 2.959 29.592 29.592 2.959 29.592 29.592 2.805
2 2.598 25.980 55.571 2.598 25.980 55.571 2.593
3 2.063 20.628 76.199 2.063 20.628 76.199 2.114
4 1.106 11.059 87.259 1.106 11.059 87.259 1.497
5 .754 7.541 94.800
6 .444 4.438 99.238
7 .076 .762 100
8 1.969 1.969 100
-
9 -6.537 100
6.537
-
-1.239 100
1.239
Extraction Method: Principal Component Analysis
In Table: 4.19 reported above the factor loadings are represented in the rotated
component matrix. As may be known by now, these factor loadings are important for the
interpretation of the factors, especially the high ones. In this section of the study four factors
were identified as being maximum per centage variance accounted above one. In oblique

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rotation, interpretation of the factors mostly takes place by examining the pattern matrix. The
pattern matrix is represented below Table: 4.20.
FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE POLICY

Components
To Cover
Factors Unexceptional Tax
Hospitalization Others
risk benefit
Expenses
X1Reference by family / friends -.925 - - -
X2Regulation of the government .776 - - -
X3Reputation / reliability of the
- - -.888
service provider
X4Low service / processing cost - - - .944
X5Influence of the sales people - - .927 -
X6Wise options - .938 - -
X7High return on investment -.533 -.648 - -
X8Reference by workplace .590 - -
X9 Healthy Political and legal
.856 - - -
situations
X10 Miscellaneous - .874 - -
Extraction Method: Principal Component Analysis.
Rotation Method: Oblimin with Kaiser Normalization.

The four factors are grouped in the above table. The variable X1, X2 , X7, and X9is
grouped as factor I and it accounts for 29.59 per cent of the total variance. The variable X6, X7 ,X
8and X10constitute the factor II and it accounts for 25.98 per cent of the total variance. The
variable X3and X5 is grouped as factor III and it accounts for 20.63 per cent of the total variance.
The variable X12 and X13 is grouped as factor IV and it accounts for 6.607 per cent of the total
variance. The variable X45 is grouped as factor V and it accounts for 11.064 per cent of the total
variance.

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SCREE PLOT
FACTORS INFLUENCED CUSTOMERS’ IN SELECTION OF INSURANCE
POLICY

TABLE: 6
FACTOR ANALYSIS OF ASSOCIATION OF FACTORS INFLUENCED
CUSTOMERS’ IN SELECTION OF INSURANCE POLICY AND PURPOSE OF
OWING A PLOICY
Cronbanch's
Factors Factor interpretation Variables included in the factors
Alpha
Reference by family / friends,
To Cover Hospitalization Regulation of the government, High
F1 .723
Expenses return on investment and conducive
Political and legal situations
Wise options, High return on
F2 To Meet Unexceptional risk investment, Reference by workplace .683
and Miscellaneous factors
Reputation / reliability of service
F3 To avail Tax benefit providers and Influence of the sales .655
people

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F4 Others Low service / processing cost .601
Source: Computed From Primary Data
The most widely used measure to assess the internal consistency of constructs is
Cronbach’s alpha. The generally agreed upon value of Cronbach’s alpha is 0.70, although it may
decrease to 0.60 in case of exploratory research (Hair et al. 2006; pp.137). The result of
reliability analysis declares that the Cronbanch's Alpha value .723, .683, .655 and .655
establishes significant and positive association between the variables tested. It establishes the
existence of internal constancy with data collected at time of filed survey. The results of the test
establish consistency in the opinion of respondents towards the factors influences them to select
a health insurance company and the purpose of owing an insurance policy.
TABLE : 7 CUSTOMERS’ OPINION ON INFLUENCES OF POLICIES FEATURES
AND BENEFITS
Very
Sl. Somewhat Total Weighted
Factors much Not at all Rank
No Influenced Sum Mean
Influenced
Policy Features
1. Claim Cover 135(67.50) 57(28.50) 8(4.00) 527 2.64 1
2. Risk Coverage 128(64.00) 59(29.50) 13(6.50) 515 2.58 2
3. Savings 85(42.50) 88(44.00) 27(13.50) 458 2.29 5
4. Tax benefits 102(51.00) 72(36.00) 26(13.00) 476 2.38 4
5. Trust of Insurer 106(53.00) 70(35.00) 24(12.00) 482 2.41 3
Policy Benefits
6. Bonus 108(54.00) 64(32.00) 28(14.00) 480 2.40 4
7. Premium Amount 118(59.00) 71(35.50) 11(5.50) 507 2.54 2
Amount claim
8. offered at the time of 116(58.00) 61(30.50) 23(11.50) 493 2.47 3
maturity
9. Family Production 150(75.00) 38(19.00) 12(6.00) 538 2.69 1
Source: Primary Data

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From the above table it has inferred that on the Likert’s scale of three on an average 2.64
respondents have primarily opined that they were very much influenced by the health insurance
claim covered offered by their service providers. Followed by 2.58 on a mean scale of three have
said that they were influenced by risk coverage offered in the health insurance package. Trust of
insurer, tax benefits offered by the policy and saving option to meet out ill health need is ranked
in the third, fourth and fifth places, with a mean score of 2.41, 2.38 and 2.29, respectively.

Similarly it has inferred that on an average 2.69 respondents out of every three have
primarily opined that they were very much influenced by family protection benefits offered by
their health insurance policy scheme. Followed by 2.54 persons appreciated the premium amount
payment benefits they experiences under their health insurance scheme that duly influence them
to own a health insurance policy. Influences of policy benefits like: amount of claim offered at
the time of maturity and bonus benefits are ranked in the third and fourth places with mean score
of 2.47 and 2.40, respectively.

The existence of association between the purposes stated for owing health
insurance policy by customers’ and the influences of products features and benefits on the policy
holders, the following hypothesis is framed and it is measured with the help of Chi-Square test.

Ho: There exists no relationship between the purposes stated for owing health insurance
policy by customers’ and the influences of products features and benefits on them.

TABLE: 8
RESULT OF CHI-SQUARE TEST
INFLUENCES OF POLICIES FEATURES BENEFITS ON CUSTOMERS’ AND
PURPOSES OF POLICY HOLDING
Chi-Square Significance
Sl. No Factors DF
Value Value
Influences of Policy Features
1. Claim Cover 4.033 6 .672
2. Risk Coverage 7.353 6 .289
3. Savings 5.454 6 .487
4. Tax benefits 10.736 6 .097

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IJRSS Volume 4, Issue 4 ISSN: 2249-2496
_________________________________________________________
5. Trust of Insurer
Influences of Product Benefits
6. Bonus 22.338 6 .001
7. Premium Amount 3.919 6 .688
Amount offered at the time of
8. 4.759 6 .575
maturity
9. Family Production 2.397 6 .880
Level of Significance: 5 per cent
From results of chi-square test it has observed that calculated values are greater than
significance values for the eight variables tested. Except, in case on customers’ perception on the
influences of bonus facilities on them. Therefore, the hypothesis framed stands rejected. And it
has concluded that there exists significant relationship between the purposes stated for owing
health insurance policy by customers’ and the influences of products features and benefits on
them.

CONCLUSION
The Indian Health Insurance Industry has been growing constantly in the last few years,
even though it cannot be compared to the size of health insurance sectors of the rest of the world.
The reason for this leaping growth rate is the fact that health insurance schemes are tremendous
tax saving instruments. It has been found from this study that consumers are aware of insurance
schemes. And certain factors such as policy features, policy benefits have significant influence
on the selection of insurance policy and purpose of holding it. This reveals that there are very
few people who actively search out health insurance but are willing to take it up when it is
provided conveniently. Hence, accessibility and awareness take special importance for the
industry.

A Quarterly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories
Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage, India as well as in Cabell’s Directories of Publishing Opportunities, U.S.A.

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November
2014
IJRSS Volume 4, Issue 4 ISSN: 2249-2496
_________________________________________________________
REFERENCES

BOOKS

Gupta, S.P. (2001). Statistical Methods. (30th Revised Edition, Sultan Chand & Sons
Publications, New Delhi).

Kothari, C.R. (2000). Research Methodology: Methods and Techniques. (2nd Edition, New Age
International (P) Ltd., New Delhi).

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Kronick and Gilmer (1999), "Explaining the decline in health insurance coverage, 1979-
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Ramesh Bhat and Nishant Jain (2007), Factoring affecting the demand for insurance in a
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Reagan, B., Brostoff, S., and M.A. Hofmann (2001), “Added Value Key to Agent/Broker
survival”, “Insurers Vow to Keep Agents as Key Distribution Component”,
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105, No. 29, Business Insurance, Vol. 14, pp: 132-152.

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