Published on: April 2026
A STUDY ON FINANCIAL AWARENESS AND LITERACY REGARDING INVESTMENT PREFERENCES IN LIFE INSURANCE PRODUCTS
Sakshi Krishna Jadhav Muktamani Kiran Kulkarni Jaid Karim Shaikh
Prof. Sonal Sharma , Prof. Neelam Patil , Dr. Praddyumna Shastri
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Abstract
Financial literacy is increasingly recognized as a critical determinant of wealth accumulation and economic stability, particularly as retail financial markets grow exponentially more intricate. Within the specific domain of life insurance, products have drastically evolved from simple mortality coverage into sophisticated investment vehicles that bundle death benefits with complex financial derivatives. This paper explores the profound intersection between investor financial awareness, behavioral biases, and the shifting preference for complex life insurance products. By evaluating the impact of psychological framing and the mathematical opacity of underlying assets, we propose a comprehensive evaluation framework designed to quantify consumer comprehension. Ultimately, this study demonstrates that aligning product complexity with policyholder
literacy is essential for fostering a resilient, transparent, and ethically sustainable insurance market.
How to Cite this Paper
Jadhav, S. K., Kulkarni, M. K. & Shaikh, J. K. (2026). A Study on Financial Awareness and Literacy Regarding Investment Preferences in Life Insurance Products. International Journal of Creative and Open Research in Engineering and Management, <i>02</i>(04). https://doi.org/10.55041/ijcope.v2i4.711
Jadhav, Sakshi, et al.. "A Study on Financial Awareness and Literacy Regarding Investment Preferences in Life Insurance Products." International Journal of Creative and Open Research in Engineering and Management, vol. 02, no. 04, 2026, pp. . doi:https://doi.org/10.55041/ijcope.v2i4.711.
Jadhav, Sakshi,Muktamani Kulkarni, and Jaid Shaikh. "A Study on Financial Awareness and Literacy Regarding Investment Preferences in Life Insurance Products." International Journal of Creative and Open Research in Engineering and Management 02, no. 04 (2026). https://doi.org/https://doi.org/10.55041/ijcope.v2i4.711.
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References
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- •Peer Review Type: Double-Blind Peer Review
- •Published on: Apr 25 2026
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