About 67 per cent of salaried employees prefer public sector companies for buying an insurance policy as they feel such institutions are more credible and secure, a study by Assocham has found.
Government-owned insurers led by Life Insurance Corporation (LIC), maintain the highest share in selling insurance products and their penetration far outweighs private sector peers, the study said.
Only 25 per cent salaried people prefer private firms for insurance purposes, it revealed.
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However, when it comes to mutual funds, private sector players are preferred among salaried employees, though the sector itself remains low key as the retail market investor does not yet find confidence, it said.
"As many as 60 per cent of salaried employees in all segments prefer private sector for mutual fund while only 20 per cent opt for public sector banks," the study pointed out.
