As finance is the lifeblood for all economic activities, one aspect of financial arena, which plays a very important role, is insurance. Insurance is the outcome of man’s search for safety and security, and to find out ways and means to minimize the hardship, which are beyond his control. Because of the economic reforms introduced by the government we can see that due to this globalization and privatization there is enormous increase in the private sector players queuing in the insurance sector. This entry of private players has enhanced the competitiveness and quality of service with many innovated products.In this paper we have tried to collect primary data from the insurance policy holders. Insurance industry is one of the corner stone of any economy and financial system. Insurance industry contributes its major part in increasing the saving and the fund collected is utilized in developmental programs. The insurance sector constitutes a very important and vital financial intermediary for the growth of the economy.