The Impact of Covid 19- Towards Insurance and its Benefits to the Public

Abstract

The COVID-19 impact is catastrophic, beyond imagination and its repercussions on the livelihoods of millions of people are going to be devastating. Pandemic intensifies the awareness towards insurance and the financial risks that could lead to loss of income and increased expenses. The world has witnessed a lot of awareness developed during this crisis is overwhelming, as it testifies to the importance of health insurance as well as life insurance across different channels such as social media, television commercials, advertising billboards, etc. The increasing death toll due to the covid pandemic has led to an awareness of various insurance schemes. Primary Data was collected from the respondents of Coimbatore region by using convenience sampling methodology. A total of 120 questionnaires were distributed and gathered from the participants in the study. The Data was collected through questionnaire survey method. Secondary data was obtained from various sources such as journals, websites, publications etc., The Ranking method and Weighted Average method are used to analyze the collected data. Results indicate that people start valuing the importance of insurance policies and their benefits.