INTRODUCTION

This practice of saving is virtually followed in every household. There are various investment options available to the investors now a days, prior to the days when bank and post office saving which the major investment option. In the previous year bank deposit and other NBF !" #Non Banking Financial ompanies$ were offering a good return. In recent years the interest notes have been slashed down. %hen a person makes an investment it should be in such a way that it gives a good return considering the inflation notes. Investments in mutual funds are still an emerging concept in the minds of the investors. &n individual who commits money to investment products with the e'pectation of financial return. (enerally, the primary concern of an investor is to minimi)e risk while ma'imi)ing return, as opposed to a speculator, who is willing to accept higher level of risk in the hopes of collecting higher*than*average profits. That gives new meaning to +herding investors,. I think sellers play an important role in the price discovery process. &fter all, when the fundamentals of an asset are consistently in dise-uilibrium with its current valuation it makes the system that much more unstable. "elling, and thus lower prices, can actually make the system more stable in the long*term. This is just one more sign that nothing has really changed since the (reenspan Fed ended. &nd that was a Fed run by a man who admitted that his model was flawed. Neither a speculator #who takes on high risks for high rewards$ nor a gambler #who takes on the risk of total loss for out of proportion rewards$ but one whose primary objectives are preservation appreciation. of the original investment #the principal$, a steady income, and capital

INDUSTRY PROFILE
MEANING OF INSURANCE: Insurance may be described as a social device to reduce or eliminate risk of loss to life and property. Insurance is a collective bearing of risk. Insurance is a financial device to spread the risks and losses of few people among a large number of people, as people prefer small fi'ed liability instead of big uncertain and changing liability. Insurance can be defined as a +legal contract between two parties whereby one party called insurer undertakes to pay a fi'ed amount of money on the happening of a particular event, which may be certain or uncertain., The other party called insured pays in e'change a fi'ed sum known as premium. Insurance is desired to safeguard oneself and one!s family against possible losses on account of risks and perils. It provides financial compensation for the losses suffered due to the happening of any unforeseen events. IMPORTANCE OF INSURANCE: Insurance constitutes one of the major segments of the financial market. Insurance services play predominant role in the process of financial Intermediary. Today insurance industry is one of the most growing sectors in India. There is lot of potential in the Indian Insurance Industry. There are many issues, which re-uire study. The scope of the study of insurance industry of India would be very great as there are ongoing developments in the industry after the opening of the sector. The major issue right now is the hike in F/I #Foreign /irect Investment$ limit from 012 to 342 in the insurance sector. (overnment may in near future allow 342 F/I in Insurance. This would lead to more capital inflow by foreign partners. &nother major issue is the effects on 5I after the entry of private players in the market. Though market share of 5I has been affected, it has improved in terms of efficiency.

There are number of other hot topics like penetration of 6ealth Insurance, 7ural marketing of insurance, new distribution channels, new product ranges, insurance brokers! 1

regulation, incentive scheme of development officers of 5I etc. "o it offers lot of scope for studying the insurance industry. 7ight now the insurance industry has great opportunities in a country like India or hina which huge population. &lso the penetration of insurance in India is very low in both life and non*life segment so there is lot potential to be tapped. Before starting the discussion on insurance industry and related issues, we have to start with the basics of insurance. "o first we understand what is insurance8 6ow the word 9insurance! is different from the word 9assurance!8 :tc.

DIFFERENCE BEETWEN INSURANCE AND ASSURANCE:

&ssurance is older in history and it was used to describe all types of insurances. From ;<01, the term assurance came to be used only for the risks covered by life insurance and the term insurance was e'clusively used to denote the risks covered by marine, fire, etc. The word assurance indicated certainty. In life insurance, there is an assurance from the insurance company to make payment under the policy either on the maturity or at earlier death. =n the other hand the word insurance was used to denote indemnity type of insurances where the insurance company was liable to pay only in case of the loss damage the property. The insured event was bound to happen sooner or later under assurance but the event insured against may or may not happen under insurance. The principle of +indemnity, applies to +insurance contracts, #non*life$ only. The scope of the word, insurance is wider. PRINCIPLES OF INSURANCE: &n insurance contract is based on some basic principles of insurance. (1) Principle ! "U#erri$% Fi&e'( r Principle ! )*$ '* + &:

Faith it means +ma'imum truth,. Both the parties should disclose all material information regarding the subject matter of insurance.

(,) Principle ! in&e$ni*-: 1

This means that if the insured suffers a loss against which the policy has been made, he shall be fully indemnified only to the e'tent of loss. In other words, the insured is not entitled to make a profit on his loss. (.) Principle ! ')#r +%*i n: This means the insurer has the right to stand in the place of the insured after settlement of claims in so far as the insured!s right of recovery from an alternative source is involved. The insurer before the settlement of the claim may e'ercise the right. In other words, the insurer is entitled to recover from a negligent third party any loss payments made to the insured. The purposes of subrogation are to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss. The concept of 9Third >arty laims! is based on the same principle. (/) Principle ! c%)'% pr 0i$%: The cause of loss must be direct and an insured one in order to claim of compensation. (1) Principle ! in')r%#le in*ere'*: The assured must have insurance interest in the life or property insured. Insurable interest is that interest which considerably alters the position of the assured in the event of loss taking place and if the event does not take placed, he remains in the same old position.

2ISTORY OF INSURANCE
The concept of insurance is believed to have emerged almost 3?@@ years ago in the ancient land of Babylonia where traders used to bear risk of the carvan by giving loans, which were later repaid with interest when the goods arrived safely. The concept of insurance as we know today took shape in ;1<< at a place called 5loyd!s offee 6ouse in 5ondon where risk bearers used to meet to transact business. This coffee house became so popular that 5loyd!s became the one of the first modern insurance companies by the end of the eighteenth century. Aarine insurance companies came into e'istence by the end of the eighteenth century. These companies were empowered to write fire and life insurance as well as marine. The 1

(reat Fire of 5ondon in ;411 caused huge loss of property and life. %ith a view to providing fire insurance facilities, /r. Nicholas Barbon set up in ;41B the first fire insurance company known as the Fire office. The early history of insurance in India can be traced back to the Cedas. The "anskrit term 9Dogakshema! #meaning well being$, the name of 5ife Insurance orporation of India!s corporate head-uarters, is found in the 7ig Ceda. The &ryans practiced some form of 9community insurance! around ;@@@ B . 5ife insurance in its modern form came to India from :ngland in ;<;<. The =riental 5ife Insurance ompany was the first insurance company to be set up in India to help the widows of :uropean community. The insurance companies, which came into e'istence between ;<;< and ;<14, treated Indian lives as subnormal and charged an e'tra premium of ;? to 0@ percent. The first Indian insurance company, the Bombay Autual 5ife &ssurance "ociety, came into e'istence in ;<B@ to cover Indian lives at normal rates. The Insurance &ct, ;4E<, the first comprehensive legislation governing both life and non*life branches of insurance were enacted to provide strict state control over insurance business. This amended insurance &ct looked into investments, e'penditure and management of these companies. By the mid* ;4?@s there were ;?3 Indian insurers, ;1 foreign insurers, and B? provident societies carrying on life insurance business in India. Insurance business flourished and so did scams, irregularities and dubious investment practices by scores of companies. &s a result the government decided to nationali)e the life assurance business in India. The 5ife Insurance orporation of India #5I $ was set up in ;4?1. The nationali)ation of life insurance was followed by general insurance in ;4B0.

TIME LINE IN INSURANCE 2ISTORY (MA3OR LANDMAR4S)

;<;< British introduced the life insurance to India with the establishment of the =riental 5ife Insurance ompany in alcutta. 1

 ;<?@ Non life insurance started with Triton Insurance ompany. ;<B@ Bombay Autual 5ife &ssurance "ociety is the first India owned life insurer. ;4;0 The Indian 5ife &ssurance ompany &ct enacted to regulate the life insurance business. ;4E< The Insurance &ct was enacted. ;4?1 Nationali)ation took place. (overnment took over 03? Indian and foreign insurers and provident societies. ;4B0 Non*life business nationali)ed, (eneral Insurance orporation #(I $ came into being. ;44E Aalhotra committee was constituted under the chairmanship of former 7BI chief 7. N. Aalhotra to draw a blue print for insurance sector reforms. ;443 Aalhotra committee recommended reentry of private players. ;44B I7/& #Insurance 7egulatory and /evelopment &uthority$ was set up as a regulator of the insurance market in India. 0@@@ I7/& started giving license to private insurers. I I I >rudential, 6/F first private players to sell insurance >olicies. 0@@; 7oyal "undaram was the first non*life private player to sell an insurance policy. 0@@0 Bank allowed to sell insurance plans as T>&s enter the scene, insurers start setting non*life claims in the cashless mode. were

MEANING OF LIFE INSURANCE

There are three parties in a life insurance transactionF the insurer, the insured, and the owner of the policy #policyholder$, although the owner and the insured are often the same person. &nother important person involved in a life insurance policy is the beneficiary. The beneficiary is the person or persons who will receive the policy proceeds upon the death of the insured. 1

5ife insurance may be divided into two basic classes G term and permanent. Term life insurance provides for life insurance coverage for a specified term of years for a specified premium. The policy does not accumulate cash value. >ermanent life insurance is life insurance that remains in force until the policy matures, unless the owner fails to pay the premium when due. %hole life insurance provides for a level premium, and a cash value table included in the policy guaranteed by the company. The primary advantages of whole life are guaranteed death benefits, guaranteed cash values, fi'ed and known annual premiums, and mortality and e'pense charges will not decrease the cash value shown in the policy. Hniversal life insurance #H5$ is a relatively new insurance product intended to provide permanent insurance coverage with greater fle'ibility in premium payment and the potential for a higher internal rate of return. & universal life policy includes a cash account. >remiums increase the cash account. If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy. If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least ;? years. anceling these policies after only a few years can more than double your life insurance costs. financial soundness of insurance companies. heck the National &ssociation of Insurance ommissioners website #www.naic.orgIcis$ or your local library for information on the

2ISTORY OF LIFE INSURANCE

7isk protection has been a primary goal of humans and institutions throughout history. >rotecting against risk is what insurance is all about. =ver ?@@@ years ago, in hina, insurance was seen as a preventative measure against piracy on the sea. >iracy, in fact, was so prevalent, that as a way of spreading the risk, a number of ships would carry a portion of another shipJs cargo so that if one ship was captured, the entire shipment would not be lost. In another part of the world, nearly 3,?@@ years ago, in the ancient land of Babylonia, traders used to bear risk of the caravan trade by giving loans that had to be later repaid with interest when the goods arrived safely. In 0;@@ 1

B , the

ode of 6ammurabi granted legal status to the practice. It formali)ed concepts of

+bottomry, referring to vessel bottoms and +respondentia, referring to cargo. These provided the underpinning for marine insurance contracts. "uch contracts contained three elementsF a loan on the vessel, cargo, or freightK an interest rateK and a surcharge to cover the possibility of loss. In effect, ship owners were the insured and lenders were the underwriters. 5ife insurance came about a little later in ancient 7ome, where burial clubs were formed to cover the funeral e'penses of its members, as well as help survivors monetarily. %ith 7omeJs fall, around 3?@ &./., most of the concepts of insurance were abandoned, but aspects of it did continue through the Aiddle &ges, particularly with merchant and artisan guilds. These provided forms of member insurance covering risks like fire, flood, theft, disability, death, and even imprisonment. /uring the feudal period, early forms of insurance ebbed with the decline of travel and long*distance trade. But during the ;3th to ;1th centuries, transportation, commerce, and insurance would again reemerge. Insurance in India can be traced back to the Cedas. For instance, yogakshema, the name of 5ife Insurance orporation of IndiaJs corporate head-uarters, is derived from the 7ig Ceda. The term suggests that a form of Lcommunity insuranceL was prevalent around ;@@@ B and practiced by the &ryans. &nd similar to ancient 7ome, burial societies were formed in the Buddhist period to help families build houses, and to protect widows and children.

M &ern In')r%nce
Illegal almost everywhere else in :urope, life insurance in :ngland was vigorously promoted in the three decades following the (lorious 7evolution of ;1<<. The type of insurance we see today owes itJs roots to ;Bth century :ngland. 5loydJs of 5ondon, or as they were known then, 5loydJs offee 6ouse, was the location where merchants, ship owners and underwriters met to discuss and transact business deals. %hile serving as a means of risk*avoidance, life insurance also appealed strongly to the gambling instincts of :nglandJs burgeoning middle class. (ambling was so rampant, in fact, that when newspapers published names of prominent people who were seriously ill, bets were placed at 5loyd!s on their anticipated dates of death. 7eacting against such practices, B4 1

merchant underwriters broke away in ;B14 and two years later formed a +New 5loyd!s offee 6ouse, that became known as the +real 5loyd!s., Aaking wagers on peopleJs deaths ceased in ;BB3 when parliament forbade the practice.

In')r%nce $ 5e' * A$eric%

The H.". insurance industry was built on the British model. The year ;BE? saw the birth of the first insurance company in the &merican colonies in harleston, " . The >resbyterian "ynod of >hiladelphia in ;B?4, sponsored the first life insurance corporation in &merica for the benefit of ministers and their dependents. &nd the first life insurance policy for the general public in the Hnited "tates was issued, in >hiladelphia, on Aay 00, ;B1;. But it wasnJt until <@ years later #after ;<3@$, that life insurance really took off in a big way. The key to its success was reducing the opposition from religious groups. In ;<E?, the infamous New Dork fire drew peopleJs attention to the need to provide for sudden and large losses. Two years later, Aassachusetts became the first state to re-uire companies by law to maintain such reserves. The great hicago fire of ;<B; further emphasi)ed how fires can cause huge losses in densely populated modern cities. The practice of reinsurance, wherein the risks are spread among several companies, was devised specifically for such situations. %ith the creation of the automobile, public liability insurance, which first made its appearance in the ;<<@s, gained importance and acceptance8 Aore advancement was made to insurance during the process of industriali)ation. In ;<4B, the British government passed the %orkmenJs ompensation &ct, which made it mandatory for a company to insure its employees against industrial accidents. /uring the ;4th century, many societies were founded to insure the life and health of their members, while fraternal orders provided low*cost, members* only insurance. :ven today, such fraternal orders continue to provide insurance coverage to members, as do most labor organi)ations. Aany employers sponsor group insurance policies for their employees, providing not just life insurance, but sickness and accident benefits and old*age pensions. :mployees contribute a certain percentage of the premium for these policies.

Fin%l T6 )+6*':

:ven though the &merican insurance industry was greatly influenced by Britain, the H" market developed somewhat differently from that of the Hnited Mingdom. ontributing to that was &mericaJs si)eK land diversity and the overwhelming desire to be independent. &s &merica moved from a colonial outpost to an independent force, from a farming country industrial nation, the insurance business developed from a small number of companies to a large industry. Insurance became more sophisticated, offering new types of coverage and diversified services for an increasingly comple' country.

4EY FEATURES OF LIFE INSURANCE

1) N $in%*i n: %hen one makes a nomination, as the policyholder you continue to be the owner of the policy and the nominee does not have any right under the policy so long as you are alive. The nominee has only the right to receive the policy monies in case of your death within the term of the policy. ,) A''i+n$en*: If your intention is that your policy monies should go only to a particular person, you need to assign the policy in favor of that person. .) De%*6 Bene!i*: The primary feature of a life insurance policy is the death benefit it provides. >ermanent policies provide a death benefit that is guaranteed for the life of the insured, provided the premiums have been paid and the policy has not been surrendered.

/) C%'6 7%l)e: The cash value of a permanent life insurance policy is accumulated throughout the life of the policy. It e-uals the amount a policy owner would receive, after any applicable surrender charges, if the policy were surrendered before the insuredJs death. 1

1) Di5i&en&': Aany life insurance companies issue life insurance policies that entitle the policy owner to share in the companyJs divisible surplus. 8) P%i&9Up A&&i*i n': /ividends paid to a policy owner of a participating policy can be used in numerous ways, one of which is toward the purchase of additional coverage, called paid*up additions. :) P lic- L %n': "ome life insurance policies allow a policy owner to apply for a loan against the value of their policy. :ither a fi'ed or variable rate of interest is charged. This feature allows the policy owner an easily accessible loan in times of need or opportunity. ;) C n5er'i n !r $ Ter$ * Per$%nen*: %hen in need of temporary protection, individuals often purchase term life insurance. If one owns a term policy, sometimes a provision is available that will allow her to convert her policy to a permanent one without providing additional proof of insurability. <) Di'%#ili*- W%i5er ! Pre$i)$: %aiver of >remium is an option or benefit that can be attached to a life insurance policy at an additional cost. It guarantees that coverage will stay in force and continue to grow=

BENEFITS OF LIFE INSURANCE

1) Ri'> c 5er: 5ife Insurance contracts allow an individual to have a risk cover against any unfortunate event of the future. ,) T%0 De&)c*i n: 1

Hnder section <@ income of an individual. .) L %n':

of the Income Ta' &ct of ;41; one can get ta' deduction on

premiums up to one lakh rupees. 5ife Insurance policies thus decrease the total ta'able

&n individual can easily access loans from different financial institutions by pledging his insurance policies. /) Re*ire$en* Pl%nnin+: %hat had provided protection against the financial conse-uences of premature death may now be used to help them enjoy their retirement years. Aoreover the cash value can be used as an additional income in the old age. 1) E&)c%*i n%l Nee&': "imilar to retirement planning the cash values that flow from one!s life insurance schemes can be utili)ed for educational needs of the insurer or his children.

ROLE OF LIFE INSURANCE IN T2E GROWT2 OF T2E ECONOMY

The 5ife Insurance Industry has an enviable track record among public sector units. It has a onsistent profit and dividend paying record accompanied by a steady growth in its financial resources. Through investments in the (overnment sector and socially* oriented sectors the Industry has contributed immensely to the nationJs development. The industry is recogni)ed as one of the largest financial Institutions in the country. The ventures initiated by the industry in the areas of Autual Fund, 6ousing Finance has done e'ceedingly well in recent years.

COMPANY PROFILE
ABOUT RELIANCE LIFE INSURANCE 7eliance 5ife Insurance ompany 5imited is a part of 7eliance apital 5td. of the

7eliance * &nil /hirubhai &mbani (roup. 7eliance apital is one of India!s leading private sector financial services companies, and ranks among the top E private sector financial services and banking companies, in terms of net worth. 7eliance apital has interests in asset 1

management and mutual funds, stock broking, life and general insurance, proprietary investments, private e-uity and other activities in financial services. 7eliance &ct, ;4E3. 7eliance apital sees immense potential in the rapidly growing financial services apital 5imited #7 5$ is a Non*Banking Financial ompany #NBF $

registered with the 7eserve Bank of India under section 3?*I& of the 7eserve Bank of India

sector in India and aims to become a dominant player in this industry and offer fully integrated financial services. 7eliance 5ife Insurance is another steps forward for 7eliance apital 5imited to offer need based 5ife Insurance solutions to individuals and orporate.

2ISTORY
7eliance apital 5imited announced the launch of its life insurance business on

February ;, 0@@1. This was after obtaining the re-uired regulatory approvals from the 7egistrar =f ompanies and the Insurance 7egulatory and /evelopment &uthority. It was in &ugust 0@@? that the ball was set rolling when 7eliance apital 5imited, the financial arm of 7eliance G &nil /hirubhai &mbani (roup #&/&($ G announced the re-uisition of ;@@2 shareholding in &A> "anmar 5ife Insurance ompany 5imitedK and the formal transfer of shares took place in =ctober 0@@?. The company will issue all policy contracts under the 7eliance 5ife Insurance contractual terms and commitments intact. ompany limited name. &ll the e'isting policy contracts also stand transferred to the 7eliance 5ife Insurance entity with all the original

3OURNEY SO FAR?
,@@1 A)+)'*: &nil /hirubhai &mbani (roup #&/&($ announces the ac-uisition of ;@@ percent shareholding in &A> "anmar 5ife Insurance o 5td. ,@@8 3%n)%r- 1:: Ar. Nandgopal participates in a one*day conference on 9=ptimising growth opportunities through /istribution Aatri'F 9:merging 1 Bancassurance! organi)ed by the &sia Insurance >ost at the Taj >resident, Aumbai. Fe#r)%r- 1: 7eliance 5ife Insurance officially launched.

 Fe#r)%r- 18A 1:A 1;: "trategy meet at the 7eliance Aanagement Institute. &mongst those who participate are the :=, ==, Functional 6eads, 7egional Aanagers and 7egional "ales Aanagers. Fe#r)%r- ,8: & >uja held at the hurchgate office situated in :'press Building, 3th Floor, ;3 9:! 7oad, Aumbai. M%rc6 1: hurchgate office inaugurated by Ar. &mitabh Nhunjhunwala, &mitabh haturvedi and Ar. Nandgopal. M%rc6 8: "hifting to the new premises at hurchgate commences. M%rc6 :: The new office at hennai, at the Trape)ium, First Floor, O E4, Nelson := Ar. Nandgopal, Ar. MC "rinivasan and Ar.

Aanickam 7oad, inaugurated by their

Ar. "ureshbabu also graced the occasion.

ROLE OF IT AT RELIANCE LIFE INSURANCE

1) W rl& Cl%'' D%*% Cen*re: They plan to establish a >rimary /ata Mnowledge capability to their hennai /ata entre at Navi Aumbai #/hirubhai &mbani

ity$ which will cater to their company needs across India, with fail*over entre within the same business day in occurance if an

incident or /isaster happens.

,) In*er O!!ice C nnec*i5i*-: &ll their Branch I &rea and 7egional offices will be interconnected to their /ata entre with a 03'B access to ore &pplications like 5otus Aail, 5ife*&sia and Internet &pplications. This will enable their associates to work faster and better with high*speed Internet connectivity and also ensure faster Turn &round Time for their customers. .) C)'* $er C%re Cen*re: They will host a centrali)ed ustomer are entre at /hirubhai &mbani Mnowledge ity at Navi Aumbai, which cater services to internal and e'ternal -ueries and complications. 1

& customer 7elationship Aanagement Tool # 7A$ and 5ead Aanagement "ystem #5A"$ are in progress. /) We# P r*%l: This portal will be an interface between both internal employees and their e'ternal users. "ome of the functions included in their portal are >olicy Tracking "ystems, orporate News, Puality "ystem etc. 1) R W rl&: 7eliance Aobile 7*%orld will provide online information about their (enerators. 8) SMS Aler*': "A" &lerts will be provided to their "ales Aanagers about the latest happenings like ontests and ampaigns, :mployee message &lerts etc. will include ustomer ompany &lerts News and %elcomeIBirthdayI&nniversary will include ompany, hecking "ystem, Hnder %riting Aedical "ystem, and &gent Aanagement

>roducts, and >olicy "ervices to their e'isting customers, &gentsI&dvisors and 5ead

%elcomeIBirthdayI&nniversary message, >olicy /ispatch /etails, >olicy "ervicing "A" like >remium 7eceipt and 7enewal >remium reminders etc.

:) Li!e %n& Gr )p A'i%: "ingle 5ife and (roup 5ife details will be captured and managed by 5ife and (roup &sia. & common middleware between these applications will enable (roup 5ife and vice versa. ;) A&5i' r L )n+e: It is a dedicated area for 7eliance 5ife Insurance &gentsI&dvisors in all the branches across India. This 5ounge will be e-uipped with desktops and printers with Internet connectivity, where their &dvisors can bring in the prospects and can have discussions across 1 ustomers to view their individual "ingle 5ife Insurance >lan details taken with 7eliance 5ife Insurance

the table and they can create and print -uotes. The &gentsI&dvisors can use this area to service their e'isting customers. <) D c)$en* M%n%+e$en* S-'*e$: /A" will enable both policy issuance and contract servicing through an automated workflow, which yields a faster Turnaround Time to both internal and e'ternal users. This application will enable them to have a paperless office and thus mitigate the risk of losing vital recordsIpapers. 1@) Wirele'' D%*% Acce'': This will enable identified Top "ales Aanagers and Top &dvisors to access real time data for both 5A" and 7A on the fly through 6andheld >/& device. 11) SAP B ERP M &)le': "&> #Finance and 67 Aodules$, will automate the :'pense, Travel and 5eave Aanagement "ystems.

MISSION
The mission of 7eliance 5ife Insurance Think Bigger and Think Better. ompany 5imited is to be the best in every

sphere* business results, customer care and employee focus. The aim of the company is to

CORE 7ALUES
7eliance 5ife Insurance followsF ;$ 7esult =riented 0$ >erformance /riven 1 ompany 5imited has some core values which are listed as

E$ ustomer Focused 3$ 5earning and /evelopment =riented ?$ :mployee entric 1$ Informal and Fun FUTURE PLANS Forty*four new branches to be opened across the country in the coming monthsK and a pan India presence with ;10 branches in the coming year. & state*of*the*art customer care centre will provide continuous, responsive services to the caller and promptly address -ueries, collate feedback and suggestions from the caller, who may be both prospective and e'isting clientele and from channel partners in hennai and Aumbai. It will be launching additional products aimed at providing unparalleled service to its valued clientele.

2EAD B OFFICE 7eliance 5ife Insurance ompany 5imited, The Trape)ium, E4, First Floor, Nelson Aanickam 7oad, hennai G 1@@ @04. BRANC2ES They have so many branches and substations in the India. They have around ;1@ branches in the India. &nd they have planned to open more branches across the country in the coming months. 1

PRODUCT MIC

TRADITIONAL PLAN:
5ife insurance products are designed to suit the re-uirements of customers. Fundamentally the product provide forF 7isk cover Investment 6ealth cover In every product, to a certain degree, risk cover is imperative for it to fall under the category of insurance. Based on the coverage of the product, the premiums are calculated and the customer pays accordingly. In order to suggest the right product, it is essential for an agent to understand the re-uirements of the customer well. 1

7eliance 5ife Insurance

ompany 5imited has offered 4 traditional plans to the

customers, which are listed as followsF ;$ 7eliance Term >lan 0$ 7eliance %hole 5ife >lan E$ 7eliance hild >lan 3$ 7eliance :ndowment >lan ?$ 7eliance "pecial :ndowment >lan 1$ 7eliance ash Flow >lan B$ 7eliance redit (uardian >lan <$ 7eliance "pecial redit (uardian >lan :ach of the above traditional plans is discussed as followsF 1) Reli%nce Ter$ pl%n: This insurance policy is designed for those who only want life cover for the protection of their family, and do not wish to save for themselves. It can also be useful to business firms that wish to provide financial security to their business against the sudden loss of partners or valuable manpower. "ince there is no saving element or bonus provision, the premium is very low. 6ence, this is a high*risk plan with a low premium. Fe%*)re': a$ >urely a term plan b$ :ntry age minimum ;< years and ma'imum 1? year c$ Aa'imum premium paying term is E@ year d$ 5oan facility N.&. e$ Aaturity amount Q "um assured 1

,) Reli%nce W6 le Li!e Pl%n: This insurance policy is designed for people who do not wish to avail of any benefits themselves but wish to create an immediate estate to protect their family by availing of insurance cover on their life at a very low cost. Fe%*)re': a$ It is a whole life insurance policy with profits b$ 5ow cost life cover c$ Aaturity age is <? year or 44 years last birthday as chosen d$ Aaturity amount Q "um assured R Cested bonus e$ Ta' benefit is available E$ Reli%nce C6il& Pl%n: This insurance policy is designed for people who wish to save money for a future time when there will be a recurring need for substantial amounts of money. This is especially true when it comes to paying large sums of money for higher education as and when your son or daughter is studying to become an :ngineer, a /octor or speciali)e in some other field, or is perhaps planning to go abroad. This money is payable in e-ual installments over the last 3 years of the policy term. Fe%*)re': I. Ainimum entry age is 0@ year and ma'imum 1@ year a$ Ainimum sum assured is 7s. 0?,@@@. b$ Ainimum premium paying term is ? year and ma'imum 0@ year c$ Ta' benefit is available d$ Aaturity amount Q Four e-ual installment of sum insured in last four year bonus in the last year e$ 5oan facility is available 1 plus vested

/) Reli%nce En& D$en* Pl%n: 7eliance 5ife Insurance!s 7eliance :ndowment >lan is the key to all your financial needs. It is an ine'pensive and easy way to protect you, your family or your business. In a nutshell this plan will keep you financially prepared for all the special occasions in your life * your daughter!s wedding, your child!s university education or even a new office for your business * by eliminating the burden that a shortage of money creates. In the event of your untimely death, 7eliance :ndowment >lan will also assist your loved ones through this difficult time by the financial support that it provides. 7eliance :ndowment >lan also gives you the additional benefit of participating in the company!s profits, which you will receive at the end of the policy period. Fe%*)re': a$ :ntry age minimum is ? year and ma'imum 1? year b$ Aaturity age minimum is ;< year and ma'imum B? year c$ Ainimum premium paying term is ? year and ma'imum E? year in case of regular and in case of single ;? year d$ Ainimum sum assured is 7s. 0?,@@@ or as determined by the minimum premium e$ Aa'imum sum assured is 7s. ?,@@,@@@ #entry age below ;< years and no limit for entry age ;< and above$ f$ >remium mode annual, half yearly, -uarterly and monthly #by salary deduction only$ g$ 5oan up to 4@2 of the surrender value of the policy h$ Aaturity amount Q (uaranteed sum assured R 7eversionary bonus 1) Reli%nce Speci%l En& D$en* Pl%n: This insurance policy is designed for people who wish to combine savings with e'tended security. The uni-ue feature of this policy is that life protection continues for five years after you have stopped the payment of premium. >ayment of sum assured at the end of 1

premium paying term and e'tension of life cover thereafter for the full sum assured for a period of ? years, are characteristics of the policy. This plan also participates in the profits.

Fe%*)re': a$ :ntry age minimum ;0 year and ma'imum 1? year b$ Ainimum sum assured is 7s. 0?,@@@ c$ Ainimum premium paying term is ;@ year and ma'imum 3@ year d$ Hni-ue feature of this policy is that five year life protection continues after you have stopped the payment of premium e$ Ta' benefit is available f$ Hnder this policy bonus is compounded yearly g$ 5oan facility is available h$ Aaturity amount Q Full sum assured before maturity date R Cested bonus at the time of maturity date 8) Reli%nce C%'6 Fl D Pl%n: This insurance policy is designed for those who have a recurring need for reinvestment in business or look for short*term investment channels. The advantage of the policy is that they need not part with a si)able amount of money at any one time, but create, through regular premium payments, a periodic return of lump sums which become available for reinvestment at higher returns, while providing simultaneously, substantial life cover. &lternatively, it can be used to meet any immediate financial crisis in the family like your sonJs college admission, your daughterJs engagement, and renovation of your home or perhaps, a holiday abroad. 1

The money is payable in installments. The first installment is paid at the end of the 3th year and thereafter at the end of every Erd year.

Fe%*)re': a$ >lan with profits b$ Ainimum entry age is ;? year and ma'imum is 1E year c$ Aa'imum premium paying term is E3 year d$ 5oan facility is not available e$ In case of death full sum assured R accrued bonuses up to the date of death is payable immediately f$ In case of survival up to maturity date all premiums paid g$ 7ider accident death and critical illness h$ Aode of payment is available :) Reli%nce Cre&i* G)%r&i%n Pl%n: This insurance policy is designed for those who not only safeguards individuals but also families and businesses from the financial hardship that could arise from unfortunate and une'pected death. Fe%*)re': a$ 5oan protection against home, home improvement, two wheelers and four wheelers b$ In case of death remaining loan amount paid immediately c$ In case of survival no benefit is available 1

d$ >remium payment option for single and regular is available e$ >remium paying term is 0IE of loan period and remaining period paid by the company ;) Reli%nce Speci%l Cre&i* G)%r&i%n Pl%n: This insurance policy is designed for those who not only safeguards individuals but also families and businesses from the financial hardship that could arise from unfortunate and une'pected death, disability or critical illnesses. Fe%*)re': a$ 5oan protection against home, home improvement, two wheelers and four wheelers b$ In case of death remaining loan amount paid immediately c$ In case of survival no benefit is available d$ >remium payment option for regular and single is available e$ >remium payment term is 0IE of loan period and remaining period paid by the company f$ Aaturity amount Q &ll the premium paid amount g$ Ta' benefit is available UNIT LIN4ED PLAN & unit*linked policy is a life assurance policy in which the benefits depend on the performance of a portfolio of shares. :ach premium paid by the insured person is splitF a part is used to provide life assurance cover, while the balance #after the deduction of costs, e'penses, etc.$ is used to buy units in a unit trust. In this way, a small investor can benefit from investment in a managed fund without making a large financial commitment. &s they are linked to the value of shares, unit linked policies can go up or down in value. >olicyholders can surrender the policy at any time and the surrender value is the selling price of the units purchased by the date of cancellation 4less e'pense$. & small part of the contribution is used for providing life cover and the balance is 1

invested in unit. 5egal heirs are entitled to the amount of insurance cover and entitled units in case of death of the insured. 7eliance 5ife Insurance >lans, which are listed as followsF ;$ 7eliance Aarket 7eturn >lan 0$ 7eliance (olden Dears >lan &mongst the above plans the 7eliance Aarket 7eturn >lan is the largest selling plan of the 7eliance 5ife Insurance ompany 5imited. The above two H5I> plans are discussed as followsF ;$ 7eliance Aarket 7eturn >lanF 7eliance Aarket 7eturn Fund is the unit*linked product that helps you invest in the financial markets in a combination of investment instruments of your choice. Dou can enjoy the returns from the markets without the trouble of monitoring and managing your own investment portfolio and keeping track of the market movements. &t the same time your investment premiums provide you with insurance cover. 7eliance Aarket 7eturn Fund unit* linked insurance plan provides you with a basket of fund options that balances your return and risk e'posure while providing life cover at the same time. Fe%*)re': a$ Ainimum entry age is E@ days and ma'imum entry age is 1? year b$ Aa'imum policy term 3@ year and minimum policy term ? year c$ Aode of premium as annual, -uarterly, half yearly and monthly 7s. ;@@@ #for salary deduction only$ and 7s. 0?@@ #standing orderIcredit card$ d$ Top up premium minimum 7s. 0?@@ e$ =ption of investment fund i. apital secure ;@@2 fi'ed interest securities ii. Balanced minimum <@2 fi'ed interest securities and ma'imum 0@2 in e-uity 1 ompany 5imited has also offered the two Hnit 5inked

iii. :-uity ;@@2 e-uity iv. (rowth minimum 1@2 fi'ed interest securities and ma'imum 3@2 in e-uity f$ 5oan facility is not available g$ =ne switches every year free and subse-uent switches charged ;2 of the amount switched h$ >artial withdrawals per year under regular and single premium options is 0 times i$ 5ock in period till today is E year j$ Ainimum unit account balance after each withdrawals is 7s. ;@,@@@ ,) Reli%nce G l&en Ye%r' Pl%n: 7eliance (olden Dears >lan... The 7eliance 5ife Insurance 9no*worry stay happy!retirementplan. 7eliance (olden Dears >lan is a fle'ible package that provides freedom of choice in choosing the type of investment, life cover, vesting options such as commuting and annuity options. ontributions provide Income ta' savings as well. 7eliance (olden Dears >lan, a fle'ible pension product is available for all individuals who are between the ages of ;< and 1?. Fe%*)re': a$ :ntry age minimum is ;< year and ma'imum 1? year b$ Ainimum premium amount 7s. ;@,@@@ and ma'imum is unlimited c$ Aode of premium payment is available d$ >ension plan with risk cover and without risk cover e$ hoice of investment i. apital secure fund G <@2 in e-uity and 0@2 in government security ii. Balanced fund G <@2 in government and 0@2 in e-uity f$ No loan facility is available g$ Ta' benefit is available 1

h$ &nnuity options i. &nnuity payable for life ii. &nnuity payable for ?I;@I;? years certain and thereafter with life iii. &nnuity payable for life with return of capital on death of the annuitant

Nee& ! r *6e '*)&1

To study on investor!s decision making pattern for life insurance products at reliance life insurance through this we can able to analysis and interpret investor!s decision to select the life insurance product. The survey is made to find out the need back, satisfaction level of investor, their future e'pectation and the suggestions of the consumers which will help the company to improve the value of its product.

Sc pe ! *6e '*)& The investment is current scenario is affected by various factors like economic social, political and market condition. The investors are ready to take risk in investing their money in diversified portfolio 1

 The investors should be made aware of the various financial products through effective media and personal contact in order to pool more funds to make suitable investment. The scope of the study reveals the investors awareness about different type of investment product offered by reliance life insurance.

OB3ECTI7ES

To analysis the investor preference towards the life insurance products. To study the factors determining the choice of the life insurance products among the all one product. 1

 To analysis the life insurance products features with investor satisfaction or not. To analysis various benefit provided in life insurance. To identify the investor major e'ception about the life insurance.

Li$i*%*i n ! *6e '*)&The main problem that this project research is to identify which factors influenced to investor in various kind of investment. This study is been taken on different view of the investors, to know the reason behind their investment and interest investment the respondents future decision so this research would help us to the necessary steps for improving the investment level among the public. 1

RESEARC2 MET2ADOLOGY

7esearch methodology consists of the following steps. a$ 7esearch design b$ 7esearch tools c$ "ample si)e d$ &rea of survey e$ >eriod of survey f$ /ate collection 1

g$ "ample method RESEARC2 DESIGN: 7esearch design is the basic framework, which provides guidelines for whole research methodology. The choice of research design depends on the depth and e'tent of data re-uired the costs and benefits of the research, the urgency of the work and time and time available to complete it. The research design followed in this study is descriptive in nature. RESEARC2 TOOLS: The interviewer used -uestionnaire as research instrument to collect the data from the samples. The -uestionnaire contains both open end and closed end -uestions as necessary. SAMPLE MET2OD: To collect the primary data, the researcher has to choose a portion of the population then it is called sampling method. In this project simple random sampling method was used. SAMPLEE SIEE: The sample si)e of this research was ;@@ respondents. The customers were interviewed for collection the re-uired data. AREA OF SUR7EY: The survey was conducted in hennai city PERIOD OF SUR7EY: The survey was conducted for a period of ? weeks. DATA COLLECTIONF There are two types of data collection namely primary data collection and secondary data collection. 1= Pri$%r- &%*%: >rimary data is a data which is collection e'plicitly for a specific research mini project at the hand of the target respondents. 1

,= Sec n&%r- &%*%: "econdary data refers those which already e'ist some where. For this study the secondary data was collected from library, companies periods and associations, booklets and maga)ines. STATISICAL TOOLS APPLIED: The analyst has used different statistical tools for analy)ing and interpreting the data. In this study the following tool are applied. 1= Percen*%+e An%l-'i': >ercentage refers to a special kind of ratio. >ercentage is used in making comparison between two or more series of data. >ercentage are used to describe relationship can also be used to compare the relative terms, the distribution of two #or$ more series of data. No. =f 7espondents 2 of respondent Q Total 7espondents S;@@

DATA ANALYSIS AND INTERPRETATIONS A+e Le5el ! *6e Re'p n&en*'

T%#le N =1

A+e 1; * .@ .1 * 1@ A# 5e 11 T *%l

N = ! Re'p n&en*' ;E BB ;@ ;@@

Percen*%+e ;E BB ;@ ;@@

In!erence: The above table an infer that BB2 of the respondent are at the age group of E; to ?@. &nother ;E2 of the respondents are at the age group of ;< to E@. The rest of the ;@ 2 respondents at the age group of above ?;.

Gen&er ! *6e Re'p n&en*' T%#le N =,

Gen&er M%le Fe$%le T *%l

N = ! re'p n&en*' B< 00 ;@@

Percen*%+e B< 00 ;@@

In!erence: From the above table we can infer that B<2 of the total ;@@ respondents are male. &nother 00 2 of the respondents are female.

M%ri*%l S*%*)' ! *6e Re'p n&en*' T%#le N =.

1

M%ri*%l S*%*)' Sin+le M%rrie& T *%l

N = ! re'p n&en*' < 40 ;@@

Percen*%+e < 40 ;@@

In!erence: The above table <2 of the respondents only single. &nother 402 of the respondents are married.

E&)c%*i n%l F)%li!ic%*i n ! *6e re'p n&en*' T%#le N =/

E&)c%*i n%l F)%li!ic%*i n p '* Gr%&)%*e Gr%&)%*e N n Gr%&)%*e Illi*er%*e T *%l

N = ! re'p n&en*' 0E E? 0B ;? ;@@

Percen*%+e 0E E? 0B ;? ;@@

In!erence: From the above table we can infer that 0E2 of the total ;@@ respondents are post graduate. &nother E?2 of the investors graduate. %here 0B2 of them are non graduate. The rest of ;?2 of the respondents are illiterate.

Occ)p%*i n ! *6e Re'p n&en*' T%#le N =1

1

Occ)p%*i n Ser5ice' B)'ine'' Pr !e''i n 2 )'eDi!e Re*ire& T *%l

N = ! re'p n&en*' ;0 33 EB ;? ? ;@@

percen*%+e ;0 33 EB ;? ? ;@@

In!erence: From the analysis we can infer that ;0 2 of the total ;@@ respondents are services are the occupation. &nother 33 2 of the investors in business. %here, another EB2 of the respondents are involved in profession. ;?2 of the respondents are housewife. The rest of ?2 of respondents are retired.

M n*6l- inc $e ! *6e re'p n&en*' Table No.1

1

M n*6l- Inc $e Bel D R' 1@@@ R' 1@@@ * 1@@@@ R' 1@@@@ * ,1@@@ A# 5e R' ,1@@@ T *%l

N = ! *6e re'p n&en*' < EB 04 01 ;@@

percen*%+e < EB 04 01 ;@@

In!erence: The above table shows that <2 of the respondents are getting the monthly income around below ?@@@ and EB2 of the respondents are getting around ?@@@*;@,@@@ and 042 of the respondents getting 7s.;@,@@@ to 0?@@@. The rest of the investors getting above 7s.0?@@@.

F%$il- $e$#er' ! *6e re'p n&en*' Table No.B

1

F%$il- Me$#er' , . / M re *6%n / T *%l

N = ! *6e re'p n&en*' ;B ;4 E0 0< ;@@

percen*%+e ;B ;4 E0 0< ;@@

In!erence: &s the evident from the table of ;@@ respondents ;B2 have 0 family members, ;42 have E family members, E02 have 3 family members and remaining 0<2 have more than 3 family members.

N = ! -e%r in5e'* r 6%5in+ in')r%nce p lic-

Table No.<

N = ! -e%r Bel D 1 -e%r 1 * 1@ -e%r' 1@ * 11 -e%r' A# 5e 11 -e%r' T *%l

N = ! re'p n&en*' 00 3< 0; 4 ;@@

Percen*%+e 00 3< 0; 4 ;@@

In!erence: From the above table we can infer that 002 of the total ;@@ investor having insurance policy below ? years. &nother 3<2 of respondents having ? to ;@ years. %here 0; 2 of the respondents having life insurance policy above ;@ to ;? years. 7est of the 42 of investors having more that ;? year.

Percep*i n %# )* li!e in')r%nce

T%#le n =<

Percep*i n S%5in+ * l T%0 '%5in+ &e5ice T l * pr *ec* !)*)re All ! *6e %# 5e T *%l

N = @! re'p n&en*' 1 ;3 0< ?0 ;@@

Percen*%+e 1 ;3 0< ?0 ;@@

In!erence: From the above table 12 of the respondents perception towards as a saving tools. &nother ;32 of respondents of the say it is useful as ta' saving device. %here, another 0<2 of the respondents perception of the life insurance as a tool to protect future. 7est of the ?02 will prefer all of the above.

S )rce * Deci&e %# )* in5e'*in+ in li!e in')r%nce

Table No.;@
S )rce Frien&' F%$ilMe&i% A' per +)i&%nce ! %+en* T *%l N = ! re'p n&en*' 3B ;E B EE ;@@ Percen*%+e 3B ;E B EE ;@@

In!erence: From the above table we can infer that 3B2 of the total ;@@ respondents decide by friends. &nother ;E2 of the respondents decide by family. %here B2 of the investors aware through media. The rest of the EE2 of the respondents are deciding through as per guidance of agent.

Re%' n * c6

'e *6e reli%nce li!e in')r%nce

1

Table No.;;

Re%' n M ne- #%c> +)%r%n*ee Rep)*%*i n ! c $p%nE%'- %cce'' * %+en* An- *6er T *%l

N = ! re'p n&en*' ;? 30 E? < ;@@

Percen*%+e ;? 30 E? < ;@@

In!erence: From the analysis we can infer that ;?2 of the total ;@@ respondents choose due to money back guarantee. &nother 302 of investors choose reliance life insurance due to the reputation of company. %here, another E?2 of the respondents answer it is easy access from the agent. The rest of the <2 respondents other reason.

T-pe ! li!e in')r%nce p lic- *6e- #)1

Table No.;0

T-pe Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> T *%l

N = ! re'p n&en* ;? 0@ E3 0@ 0E ;@@

Percen*%+e ;? 0@ E3 0@ 0E ;@@

In!erence: &bove table ;?2 of the respondent select term plan, another 0@2 of the respondents choose whole life plan and endowment plan, where another E32 select child plan and rest of 0E2 of respondent choose unit link plan.

T%0 #ene!i*' in li!e in')r%nce pr &)c*' Table No. ;E

Bene!i*' le5el ! re'p n'i#le T%0 #ene!i*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> 2i+6e'* ; 0@ 0; ;0 ;? 2i+6 < 0B ;E ;@ 0< M &er%*e EB 30 ?; 3E EB L D E; 4 < 0? 4 L De'* 0E 0 B ;@ ;; Percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: From the above table ta' benefits is EB2 moderate in term plan, another 302 moderate in whole life plan, where another ?;2 moderate in child plan and 3E2 moderate in endowment plan and other EB2 moderate in unit link plan.

S%5in+ #ene!i*' in li!e in')r%nce pr &)c*

1

Table No. ;3

Bene!i*' le5el ! re'p n'i#le S%5in+ #ene!i*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> 2i+6e'* ; 0< 3; ;4 0; 2i+6 E E< 0B 04 3; M &er%*e 1 0@ ;< E0 ;B L D ;< ;; 4 ;E 1 L De'* B0 E ? B ;? Percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: From the above table we can infer saving benefits from respondents are B02 of lowest in term plan, another E<2 high benefit in whole life plan, where another 3;2 of highest benefit in child plan and E02 of moderate benefit in endowment plan and 3;2 of high benefit in unit link plan.

Ri'> c 5er #ene!i*' in li!e in')r%nce pr &)c*

1

Table No.;?

Bene!i*' le5el ! re'p n'i#le Ri'> c 5er #ene!i*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> 2i+6e'* ?0 04 ;; 0< ;3 2i+6 0E E< 0; 0@ 04 M &er%*e ;? 0@ EE EB ;B L D 4 ? ;4 < 00 L De'* ; < ;1 B ;< Percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: From the above table risk cover benefits is ?02 highest in term plan and E<2 of high benefits in whole life plan, another EE2 are moderate in child plan, where another EB2 of respondent have moderate benefit and 042 of high benefit in unit link plan.

Re*)rn G -iel& #ene!i*' in li!e in')r%nce pr &)c*

1

Table No.;1

Bene!i*' le5el ! re'p n'i#le Re*)rn #ene!i*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> 2i+6e'* @ 0 4 ;B ;4 2i+6 0 B ;? 00 3; M &er%*e 1 03 E< E; ;? L D 30 E4 04 0@ ;< L De'* ?@ 0< 4 ;@ B Percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: The table show return benefits is ?@2 lowest from term plan and E42 of respondent have low benefit in whole life plan, another E<2 of moderate benefits, where another E;2 of moderate benefits and 3;2 of high benefit in unit link plan.

Le5el ! '%*i'!%c*i n * D%r&' li!e in')r%nce pr &)c*

Table No.;B
S%*i'!%c*i n Le5el ! re'p n'i#le Pr &)c* Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> 2i+6l'%*i'!ie& 04 4 ;4 01 3; '%*i'!ie& EB E; 33 E< 0B M &er%*e ;B 3@ ;< ;4 ;B Di''%*i'!ie& ;; 4 ;? ;; ;@ 2i+6lDi''%*i'!ie& 1 < 3 1 ? percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: From the above table the level of satisfaction is EB2 are satisfaction in term plan and 3@2 are moderate in whole life plan, another 332 satisfaction in child plan, where another E<2 satisfaction in endowment plan and 3;2 are highly satisfied in unit link plan.

R%n> pre!er ! r *6e li!e in')r%nce pr &)c* Table No.;<

R%n> ! re'p n'i#le Pr &)c* Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> I E4 00 ;0 0B E3 II 0B E< EE 3; E@ III ;4 ;B 00 ;< 0? I7 ;@ ;? 0@ ;; 4 7 ? < ;E E 0 percen*%+e ;@@ ;@@ ;@@ ;@@ ;@@

In!erence: From above table rank of respondents in life insurance product are E42 of respondents prefer term plan as I rank and E<2 prefer II rank for whole life plan, another EE2 prefer II rank for child plan, where another 3;2 prefer II rank for endowment plan and E32 prefer I rank for unit link plan.T

Cl%i$ le5el ! '%*i'!%c*i n T%#le N =1<

1

Cl%i$ le5el 2i+6l- '%*i'!ie& S%*i'!ie& M &er%*e Di''%*i'!ie& 2i+6l- &i''%*i'!ie& T *%l

N = ! re'p n&en*' 0; 0B E4 ;; 0 ;@@

percen*%+e 0; 0B E4 ;; 0 ;@@

In!erence: Table show 0;2 of the respondents highly satisfied in claim and 0B 2 of the respondents are satisfied in claim, another E42 of respondent moderate where another ;;2 of respondents dissatisfied in claim and 02 of respondent are highly dissatisfied.

C2I SHUARE ANALYSIS

7:5&TI=N"6I> B:T%::N (:N/:7 &N/ INC:"T=7" =>INI=N &B=HT 5&IA

2i+6lS%*i'!ie& FACTOR

S%*i'!ie&

M &er%*e

Di''%*i'!ie& 2i+6lDi''%*i'!ie&

TOTAL

MALE

18=.;

,1=@8

.@=/,

;=1;

1=18

:;

FEMALE

/=8,

1=</

;=1;

,=/,

@=//

,,

TOTAL

,1

,:

.<

11

1@@

2YPOT2ESIS: N)ll 2-p *6e'i': 6oF There is no significant relationship between gender and investors opinion about claim.

Al*ern%*i5e 2-p *6e'i': 6;F There is a significant relationship between gender and investors opinion about claim.

CALCULATION OF C2I SHUARE: O ;1.E< 0;.@1 E@.30 <.?< ;.?1 3.10 ?.43 <.?< 0.30 @.33 E ;1.E< 3.10 0;.@1 ?.43 E@.30 <.?< <.?< 0.30 ;.?1 @.33 O9E @ ;1.33 4.E1 0.13 *0<.<1 *E.41 *0.13 1.;1 @.<1 @ (O9E), @ 0B@.0B <B.1@ 1.41 <E0.<4 ;?.1< 1.41 EB.43 @.BE @ (O9E),GE @ ?<.? 3.;? ;.;B 0B.EB ;.<0 @.<; ;?.1B @.31 @

alculated 0 Q #=*:$ 0 I : Q ;@4.4? /egrees of freedom Q #r*;$ #c*;$ Q #0*;$ #?*;$ Q 3 The tabulated value for 0 for 3 degree of freedom at ?2 significance level Q 4.3<< "ince calculated 0 is (reater than the tabulated 0, we accept the &lternative hypothesis.

INFERENCE:
There is a significant relationship between gender and investors opinion about claim.

WEIG2TED A7ERAGE MET2OD

T&S B:N:FIT" IN B:5=% 5IF: IN"H7&N : >7=/H T"

Pr &)c*' Term plan %hole life plan hild plan :ndowment plan Hnit linked plan

6i+6e'*

2i+6

M &er%*e

L D

L De'*

; 0@ 0; ;0 ;?

< 0B ;E ;@ 0<

EB 30 ?; 3E EB

E; 4 < 0? 4

0E 0 B ;@ ;;

T&B5: F T:7A >5&N

SL=NO:

; 0 E 3 ?

SATISFACTION LE7EL 6i+6e'* 2i+6 M &er%*e L D L De'*

Wi

Ci

WiCi

; 0 E 3 ?

; < EB E; 0E

; ;1 ;;; ;3< ;;?

The formula for computing weighted average is %eighted average method Q "ub weight "ample si)e Q Q Q U %iSiIN E4;I;@@ E.4;

T&B5: F %6=5: 5IF: >5&N SL=NO: SATIAFACTION LE7EL 6i+6e'* 2i+6 M &er%*e L D L De'* Wi Ci WiCi

; 0 E 3 ?

; 0 E 3 ?

0@ 0B 30 4 0

0@ ?3 ;01 E1 ;@

The formula for computing weighted average is %eighted average method Q "ub weight "ample si)e Q Q Q
T&B5: F 6I5/ >5&N

U %iSiIN 031I;@@ 0.31

SL=NO:

; 0 E 3 ?

SATISFACTION LE7EL 6i+6e'* 2i+6 M &er%*e L D L De'*

Wi

Ci

WiCi

; 0 E 3 ?

0; ;E ?; < B

0; 01 ;?E E0 E?

The formula for computing weighted average is %eighted average method Q "ub weight "ample si)e Q Q Q
T&B5: F :N/=%A:NT >5&N

U %iSiIN 01BI;@@ 0.1B

SL=NO:

; 0 E 3 ?

SATISFACTION LE7EL 6i+6e'* 2i+6 M &er%*e L D L De'*

Wi

Ci

WiCi

; 0 E 3 ?

;0 ;@ 3E 0? ;@

;0 0@ ;04 ;@@ ?@

The formula for computing weighted average is %eighted average method Q "ub weight "ample si)e Q Q Q U %iSiIN E;;I;@@ E.;;

T&B5: F HNIT 5INM:/ >5&N

SL=NO:

; 0 E 3 ?

SATISFACTION LE7EL 6i+6e'* 2i+6 M &er%*e L D L De'*

Wi

Ci

WiCi

; 0 E 3 ?

;? 0< EB 4 ;;

;? ?1 ;;; E1 ??
1

The formula for computing weighted average is

%eighted average method Q

"ub weight "ample si)e Q Q Q U %iSiIN 0BEI;@@ 0.BE

T&B5: FT&S B:N:FIT" IN B:5=% 5IF IN"H7&N : >7=/H T"

PRODUCTS Term plan :ndowment plan Hnit linked plan hild plan %hole life plan

WEIG2TED A7ERAGE E.4; E.;; 0.BE 0.1B 0.31

RAN4 ; 0 E 3 ?

6&7T * T&S B:N:FIT" IN B:5=% 5IF IN"H7&N : >7=/H T"

INFERENCE:
From the above table it can be seen that of ;@@ respondents, most of the employees are highly satisfied with the term plan provided by the company. 1

FINDINGS

BB2 of the respondent is E; to ?@ age group B<2 of the respondents are male 402 of the respondents is married E?2 of the respondents is graduate 332 respondents are involved business EB2 of the respondents monthly income between ?@@@ to ;@@@@ E02 of the respondents are 3 family members 3<2 of the respondents having between ? to ;@ year the life insurance policy ?02 of the respondents perception of the life insurance as saving tool, ta' saving device, tool to protect future 3B2 of the respondents are decide about the life insurance by the friends. 302 of the respondents select the reliance life insurance for reputation of the company. E32 of the respondents select the child plan product from the reliance life insurance. ?;2 of respondents are moderate in child plan B02 of the respondents are lowest saving benefits in term plan ?02 of the respondents are highest risk cover benefits in term plan. ;B show 3;2 of the respondents are high return benefit in unit link plan. 1

 E42 of the respondents as prefer rank I for term plan. E4 2 of the respondents moderate satisfaction in claim of life insurance.

S)++e'*i n
& valuable suggestion would be choosing the right product according to the investment objective such asF Need >eriod of investment &mount of investment 7isk capacity of the investors It can be suggested that every individual or corporate should start to invest at their younger age so that they will reap benefit at the later stage. It can be suggested that every individual or corporate have go for all types of investment according to his capacity. The investors should analy)e thoroughly so a smart investment will benefit in the future. The investor should analy)e which factors mainly influenced in our investment product. The investor must be identified which investment product suitable in our future life. The investor must know about all investment products 1

 The investors should know about differentiations about various investment products, benefits, risk level, consistency, company standardi)ation, advertising, scheme procedure etc. The investor must be known about current share market position, economic condition national level and global level

C ncl)'i n
From the study the current market condition is such that the investments are made in profitable securities and all investment products. The various attractive schemes of each product are been introduced to motivate the investors to invest their money depending upon their purpose investment objective. The return on these schemes may fluctuate depending upon the investor!s rate prevailing in the market. The investors should be made aware which factors influence in each every product and about the various investment schemes offered by the reliance life insurance. In this study most of the investors are aware of the financial securities provided by the 7eliance life insurance, but still awareness to the created using the various promotional techni-ue like advertisement in effective media, personal contact with investors and constant contact with the e'isting investors. The finding and conclusion are made based on the respondents, views and opinions and suggestions were made to the company to attract more members on investors. 7eliance life insurance is very good organi)ation with very good, friendly and capable staff. In matters of content and -uality, 7eliance life insurance sets out to be an e'ample to the other upcoming financial service industry. 7eliance life insurance is very popular among the 1

investors, public and also among the people related to the finance like stoke brokers, charted accountant etc. This project enabled me to get the whole view of the 7eliance life insurance. It also enabled me to know about the company procedure to be followed in selling the product. It also helped me to know the sectors V investor behavior and to know in detail about insurance, mutal funds, e-uity, debentures and commodities. Find out which factors properly influenced in taking investment decisions.

BIBLIOGRAP2Y
WEBSITES www.google.com www.reliancelife.com www.indianinfoline.com 1

TECT SUPPORT 5ife time maga)ine of reliance life insurance Ic EE life insurance Broachers of reliance life insurance

HUESTIONAIRE NameF ;. &geF 0. (enderF E. Aarital "tatusF ;< to E@ Aale "ingle E; to ?@ Female Aarried ?; to 1?

3. :ducational -ualification Illiterate (raduate ?. =ccupation "ervices 6ousewife 1. Aonthly income 7s ?@@@ to ;@@@@
1

Hp to 6" =ther

Business 7etired

>rofession

Below 7s?@@@

7s ;@@@ to 0?@@@

above 7s 0?@@@

B. Family members 0 E 3 Aore than 3

<. 6ow many years do you have insurance policy8 Below? years ;@ to ;? years ?to ;@ years above ;? years

4. %hat your perception about life insurance8 "aving tool Tool to protect future Ta' saving device &ll of the above

;@.6ow do you decide about investing in life insurance Friends Aedia Family as per guidance of agent

;;.%hy did you choose the reliance life insurance8 Aoney back guarantee :asy access to agent 7eputation of company any otherWWWWWWWWWWWW
1

;0.%hich life insurance policy would you prefer to buy8 Term plan :ndowment plan whole life plan Hnit linked hild plan

;E.Ta' benefits in below life insurance products8

Pr &)c*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin>e& pl%n

2i+6e'*

2i+6

M &er%*e

L D

L De'*

;3."aving benefits in below life insurance products8

Pr &)c*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin>e& pl%n 2i+6e'* 2i+6 M &er%*e L D L De'*

;?.7isks cover benefits in below life insurance products8

Pr &)c*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin> pl%n 2i+6e'* 2i+6 M &er%*e L D L De'*

;1.7eturn Iyield benefits in below life insurance products8

Pr &)c*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin>e& pl%n 2i+6e'* 2i+6 M &er%*e L D L De'*

;B.%hat is your level of satisfaction towards life insurance product8

Pr &)c*' Ter$ pl%n W6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin>e& pl%n 2i+6l- '%*i'!ie& '%*i'!ie& M &er%*e Di''%*i'!ie& 2i+6l- Di''%*i'!ie&

;<.%hat rank you prefer to give to the below life insurance products

Pr &)c*' Ter$ pl%n D6 le li!e pl%n C6il& pl%n En& D$en* pl%n Uni* lin>e&

RAN41

RAN4,

RAN4 .

RAN4 /

RAN4 1

;4. %hat is your opinion about claim8 6ighly satisfied /issatisfied satisfied highly dissatisfied Aoderate

0@. Dour suggestion WWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW