The study was focused on the life insurance sector in India & aiming at assessing the perceptions of the policy holders towards the bancassurance channel. The objective of the study was to understand the perception of policy holders, bank customers towards life insurance. The study had attempted to understand the overall perception of an individual towards various aspects of life insurance and the decision making process that a person undergoes while making a choice, in favour or against life insurance. The report highlights that people understand the significance of life insurance and aspire to purchase such products for a better and secure future. The study also identifies the major gaps present in the existing procurement and sales process and showcases the factors which can boost insurance penetration in India, particularly through the Bancassurance channel.