MARKET SURVEY ON UNIT LINKED INSURANCE POLICY WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL FOR WAY2WEALTH By N.

GEETHA ARTHY (Reg. No 35103082)

A PROJECT REPORT Submitted to the department of SCHOOL OF MANAGEMENT In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION

SCHOOL OF MANAGEMENT SRM INSTITUTE OF SCIENCE AND TECHNOLOGY Deemed University June, 2005

BONAFIDE CERTIFICATE Certified that this project report titled MARKET SURVEY ON UNIT LINKED INSURANCE POLICY WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL FOR WAY2WEALTH is the bonafide work of Miss M. GEETHA ARTHY (35103082) who carried out the research under my supervision. Certified further, that to the best of my knowledge the work reported herein does not form part of any other project or dissertation on the basis of which degree or award was conferred on an earlier occasion on this or any other candidate.

Prof. T.P. Nagesh Signature of the Project Guide Signature of the external examiner

Dr. Jayashree Suresh, Signature of the HOD

05.04.2005

TO WHOMSOEVER IT MAY CONCERN

This is to certify that Miss. N. GEETHA ARTHY, a Final Year M.B.A., student of S.R.M. Institute of Management Studies, Kattankulathur has successfully completed her three months summer project MARKET SURVEY ON UNIT LINK INSURANCE POLICY WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL FOR WAY2WEALTH at our company from 03.01.2005 to 31.03.2005. She has been very helpful in finding some solutions to our problem and solve them effectively. Yours sincerely,

Regional Sales Manager Way2wealth ii

ABSTRACT As a part of my academic curriculum I have conducted a report on Market survey of unit linked insurance policy with special reference to ICICI prudential for Way 2 Wealth The title of this project clearly states that the purpose of the study is to know the awareness of the unit linked products. The study is basically done for ICICI prudential life insurance company to know the awareness level about the unit linked insurance product among their existing bank customers. This would also help the company in knowing the satisfaction level of the customers and how to improve them. This helps the company in knowing through which media the awareness are created and in future which media they can concentrate to improve this awareness. The survey was based on a formal interview and the responses are obtained through questionnaires. The city selected is Chennai and convenience sampling was adopted to conduct the survey. The size of the samples were restricted to150 respondents due to the time and financial constraints. Sampling has its own limitations, being biased and unsatisfactory. The data collection was analysed through using statistical tools like Kolmogrov Smirnov test, Spearmans rank correlation, Chi-square test. The major findings are reported at the end of this project work on the basis of findings suitable suggestions have been made to the company.

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ACKNOWLEDGEMENTS

I take this opportunity to acknowledge the contributions of all those who inspired me, do the best in this endeavor. There has been many a contribution for the completion of this project. I wish to express my sincere gratitude to Mr. Selvakumar, Regional Sales Manager of Way2wealth, Alwarpet, Chennai, for giving me an opportunity to work in this division. I am indebted to the guidance and wholehearted support extended by guides, Mr. Varadharajan, Mr. Subburaman and Mr. Sadagopan, Business Development Managers of Way2wealth, Alwarpet, Chennai. I also take this opportunity to thank my project guide Mr. Nagesh and Mr. Sadashivam, SRM School of Management Studies., whose timely suggestions were extremely helpful in designing the report. I will be failing in my duty if I do not mention the help & support rendered by my friends who had help me in completing this project. Last but not the least I thank god for all the good experience I gained under his vision and would also like to express my heartfelt gratitude to my parents whose encouragement has been invaluable in accomplishing this project.

N. GEETHA ARTHY

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TABLE OF CONTENTS

CHAPTER NO. I II III IV V VI VII VIII IX X XI

TITLE INTRODUCTION STATEMENT OF THE PROBLEM OBJECTIVES OF THE STUDY REVIEW OF LITERATURE METHODOLOGY AND LIMITATIONS OF THE STUDY COMPANY PROFILE ANALYSIS AND INTERPRETATION FINDINGS SUGGESTIONS ANNEXURE QUESTIONNAIRE BIBLOGRAPHY

PAGE NO. 1 4 5 6 11 19 27 61 63 64 67

LIST OF TABLES TABLE NO. 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 Gender Classification Age of the Respondent Income of the Respondent Ranking In order of preferences to the various savings schemes Investment in insurance Type of Insurance Factors Influencing Purchase of Insurance Expectations from an Investment Whether there is a single product to satisfy all the expectations Unit linked insurance product satisfy all the expectations Awareness of ULIP Level of Satisfaction with references to ULIP Companies offering ULIP Invested in ULIP Level of Satisfaction with respect to service provided PAGE NO. 27 29 31 33 34 36 38 40 42 44 46 48 50 52 54

TITLE

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LIST OF FIGURES

TABLE NO. 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 Gender Classification Age of the Respondent Income of the Respondent Investment in insurance Type of Insurance

TITLE

PAGE NO. 28 30 32 35 37 39 41 43 45 47 49 51 53 55

Factors Influencing Purchase of Insurance Expectations from an Investment Whether there is a single product to satisfy all the expectations Unit linked insurance product satisfy all the expectations Awareness of ULIP Level of Satisfaction with references to ULIP Companies offering ULIP Invested in ULIP Level of Satisfaction with respect to service provided

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CHAPTER-1 INTRODUCTION Life insurance is widely accepted as one of the most attractive financial instruments in an individual portfolio, that provides an assurance of security with attractive returns. " Life insurance is a contract for payment of a sum of money to the person assured (or failing him/ her, to the person entitled to receive the same) on the happening of the event insured against". Usually the contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or on unfortunate death, if it occurs earlier. Among other things, the contract also provides for the payment of premium periodically to the corporation by the assured. Life insurance is universally acknowledged to be an institution, which eliminates `risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of the death of the breadwinner. By and large, life insurance is civilization's partial solution to financial uncertainties caused by untimely death. Life insurance, in short is concerned with two hazards that stand across the life path of every person: that of dying prematurely leaving a dependent family to fend for itself and that of living too old with out visible means of support. The life insurance companies in India play around 1,50,000 crore in the market. The LIC fund is the major occupied company among all the insurance companies playing in the market. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Now it is the number one company among all the private players in the market and has a market share of 37 percent with a capital of 100 crore.

1.1.1

THE COMPANY ICICI Prudential's equity base stands at Rs 6.25 crore with ICICI Bank and

Prudential plc holding 74% and 26% stake respectively. As of December 31, 2003, the company had issued over 550,000 policies, with a sum assured exceeding Rs 13,000 crore and premium income of over Rs 1000 crore. Today the company is the #1 private life insurers in the country. 1.1.2 OUR VISION To make ICICI Prudential the dominant Life and Pensions player built on trust by world-class people and service. 1.1.3 ICICI BANK ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs 106812 crore. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 7 million customer accounts and 5 million bondholders' accounts through a multichannel access network. This includes about 450 branches and extension counters, 1675 ATMs, call centers and Internet banking (www.lcicibank.com). ICICI Bank posted a net profit of Rs 1,206 crore for the year ended March 31, 2003. ICICI Bank is the only Indian company to be rated above the country rating by the international rating agency Moody's and the only Indian company to be awarded an investment grade international credit rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading I n d i a n r a t i n g a g e n c i e s .

1.1.4

PRUDENTIAL Established in 1848, prudential is a leading international financial services

company in the UK, with around US$250 billion funds under management and more than 16 million customers worldwide. Prudential has brought to market an integrated range of financial services products that now includes life assurance, pensions, mutual funds, banking, investment management and general insurance. In Asia, Prudential is UK's largest life insurance company with a vast network of 22 life and mutual fund operations in twelve countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Since 1923, Prudential has championed customer-centric products and services, supported by over 60,000 staff and agents across the region. CHAPTER-2 STATEMENT OF PROBLEM This study is basically done for ICICI PRUDENTIAL LIFE INSURANCE COMPANY to know the awareness level about the unit link insurance product among their existing bank customers. The research study done here has a dynamic scope, which is to find and improvise the awareness level and responds in the life insurance business. This might also help the company in know in the satisfaction level of the customers and how to improve them. This helps the company in knowing through which media the awareness are created and in future which media they can concentrate to improve this awareness.

CHAPTER-3 OBJECTIVES OF THE STUDY

3.3.1

PRIMARY OBJECTIVE The main objective of the project is to ascertain the "AWARENESS OF UNIT

LINK INSURANCE PRODUCTS " among the existing ICICI BANK customers. 3.3.2 SECONDARY OBJECTIVE

To identify the various savings schemes of the respondents To know the opinion about the insurance scheme To find the factors that influence to buy insurance To find the level of satisfaction about the ULIP To find the level of satisfaction with the services provided by the company CHAPTER-4 REVIEW OF LITERATURE INSURANCE INVESTMENT - THE NEW PARADIGM Insurance industry has been a perennial source of funds both for short term and long-term needs of governments at all levels - Central, State and Local. It also caters to the needs of capital markets where the corporates can meet their exacting standards of investment that are know as prudential norms. Through harnessing people and corporate savings for future, insurers divert that stream of savings into investment channels. The premiums that are pooled are in the nature of trust fund since they belong to policyholders and they should be well managed ensuring their safety and productivity. Insurers cannot afford to keep them idle even for 4

a single day. There fore, public sector insurance companies are allowed to operate in call money markets. They also invest in number of other short term financial instruments for a period of less than 30 days. Cash flow management is essential for insurers. The main purpose of investments both in life and non-life companies is matching assets and liabilities. Asset-Liability management is a specialized area where insurers have to pay special attention. Insurance is essentially funding business. This fund should be self-sustaining by continuous flow of premiums, underwriting profit and investment returns. In some cases, it is strengthened by reinsurance recoveries. This fund gets depleted by claim payments, management expenses and underwriting losses in some cases. Therefore, both inflows and outflows are be balanced. Insurance industry in India is at the threshold of a great financial revolution. India is poised for faster economic growth. Economy is reaching 7 to 8% growth in GDP. Per capital incomes are growing. Globalization and liberalization opened new threats and challenges. The Indian middle class and lower middle class want to seize these opportunities. Insurance industry is ready to play its role. This great country needs all the investment funds the insurance industry offers and the India insurers will play their role in generating more and more investible funds through insurance business. INDIAN LIFE INSURANCE INDUSTRY: ISSUES AND CHALLENGES After the license was issued to private insurance players in October 2000, the growth of this sector has been phenomenal. Experts opine that the result of the three years of privatization has been extremely positive and the future looks promising. But, there are several key issued that need to be addressed immediately. One major change is in the way insurance is marketed in India. From a taxincentive - driven sale, the focus has now been shifted to a need based selling approach. Today, the Indian life insurance industry has a dozen of private players, each of them making strides in raising awareness levels, introducing innovative products and increasing the penetration of life insurance in the vastly underinsured country. Rural Market

In a country of over 1 billion people, life insurance premia until very recently formed only 1.8% of GDP and only 8% of the population insured. More than 40 crore of the insurable population is still not insured. Many of those insured are also not adequately insured. A recent survey suggests that rural market hold tremendous potential. But most of the players do not seem to be enthusiastic about rural market. Insurance players need to work out appropriate consumer awareness campaigns amongst the rural masses and develop marketing strategies to tap this huge market. Foreign participation Across the world, FDI had helped to grow the insurance industry. insurance, being a highly capital intensive sector, requires huge investments over a prolonged period of time and there is a constant need for capital injection. Now, the government has given the approval for a hike of 49% across all segments including life insurance, non-life insurance and the reinsurance companies. With this approval, Indian insurance industry ca see some more active role of the global insurance giants. Health Insurance Health insurance sector has a great potential in the country, but remains highly underdeveloped. According to some estimates, only 3% of India's population is covered under some form of voluntarily health insurance schemes. These need the regulators attention for its development. CHANGING CUSTOMER BEHAVIOUR IN INSURANCE BUYING "There are known knows; these are things we know we know. We also know that there are known unknowns, that is to say we know there are some things we do not know. But there are also unknown unknowns- the ones we don't know we don't know". In Insurance buying, most customers would probably describe their level of understanding of insurance contracts in the above manner. CHANGING EXPECTATIONS A remarkable trend in the insurance industry in the last three years is the rapid change in the knowledge level as well as expectations of the customers. The Insurance industry has witnessed a few unique aspects, such as regulation-inspired efforts to 6

educate insurance buyers, and a vast change in the skills and capabilities of the intermediaries involved in the distribution. MOTIVATING FACTORS Security of the money invested, saving for one or more specific purpose, and the availability of tax benefit. On the issue of the consumers perception of security of the money invested, there are two important aspects. One is how the features of the insurance contract are put across the buyer. The second is how to address more effectively the question about the dependability of the new generation companies that potential new insurance buyers raise during sales calls especially outside metros and in small towns. CONSUMER'S EXPERIENCE There has been a vast change in the approach of the insurance agent from the pre-liberalization days. While the agent in the past established informal contacts with potential buyers and often depended on referrals from friends and family members, the new age companies insist on a professional, and often aggressive stance on the part of the sales staff. Customer expectations in this regard revolve around two key aspects; first, whether the customer is getting truthful advice from the agent, or if he is pushing a product that yields him the highest commission rate. Thanks to the general publicity given by new insurance companies about the protection aspect of insurance, customers in major cities have come to appreciate the need for higher level of insurance cover with reference to their earning stage in working life. Life insurance is widely accepted as one of the most attractive financial instruments in an individual portfolio, that provides an assurance of security with attractive returns. " Life insurance is a contract for payment of a sum of money to the person assured (or failing him/ her, to the person entitled to receive the same) on the happening of the event insured against". Usually the contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or on unfortunate death, if it occurs earlier. Among other things, the contract also provides for the payment of premium 7

periodically to the corporation by the assured. Life insurance is universally acknowledged to be an institution, which eliminates `risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of the death of the breadwinner. By and large, life insurance is civilization's partial solution to financial uncertainties caused by untimely death.

Life insurance, in short is concerned with two hazards that stand across the life path of every person: that of dying prematurely leaving a dependent family to fend for itself and that of living too old with out visible means of support. The life insurance companies in India play around 1,50,000 crore in the market. The LIC fund is the major occupied company among all the insurance companies playing in the market. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Now it is the number one company among all the private players in the market and has a market share of 37 percent with a capital of 100 crores.

CHAPTER-5 RESEARCH METHODOLOGY A research cannot be conducted abruptly. Researcher has to proceed systematically in the already planned direction with the help of a number of step in sequence. To make the research systemized the researcher has to adopt certain methods. The methods adopted by the researcher for completing the project is called Research Methodology. In other words, Research Methodology is simply the plan of action for a research which explains in detail how data is to be collected, analysed and Interpreted. Datas becomes information only when a proper methodology is adopted. Thus we can say Methodology is a tool which process the date to a reliable information. The present chapter attempt to highlight the research methodology adopted in this project. 8

5.1

RESEARCH DESIGN A research design is a arrangement of conditions for collection and analysis of

data in a manner that aims to combine relevance to the research purpose with economy in procedure. Fundamental to the success of nay research project is the sound research design. A research design is purely and simply the framework and plan for the study that guides the collection and analysis of data. It is a blue print that is followed in completing a study 5.1.1 TYPES OF RESEARCH DESIGN There are 3 basis types of research design 1. Exploratory Research Design 2. Descriptive Research Design 3. Experimental Research Design Out of the research design said above the research design took for the study was Exploratory Research Design Exploratory Research Design The Exploratory Research throws light on defining a problem, in discovering new ideas, and sights deep into the problem at hand. Importance of Exploratory Research Design Exploratory study can be used to establish priorities in studying the competing explanation of the phenomenon. It helps in formulating a problem in terms of problem definition or Hypothesis It helps in clarifying concepts. 5.2. DATA COLLECTION METHODS Selection of Appropriate Method, the researcher should keep in view of the following factors. Nature, scope and object of enquiry 9

 Availability of funds Time factors Precision Required There are two different methods for collection of data to conduct this exploratory study. 1. 2. Primary Data Collection Method Secondary Data Collection Method

In this study the primary data collection method have been used to collect data. Now let us see about the primary data collection method 5.2.1 PRIMARY DATA COLLECTION Primary data are those which are collected a fresh and for the first time, and thus happen to be original in character. Primary data collection is nothing but the data that is directly collected from the people by the researcher himself. Primary data may pertain to demographic / socio economic characteristics or the customers, altitudes and opinions of people, their awareness and knowledge and other similar aspects. In this study Primary Data collection method has helped the researcher to a great extent in arriving at the results. 5.2.2 METHODS OF PRIMARY DATA COLLECTION

There are three methods of collecting Primary data 1. 2. 3. Survey Observation Experiments

Among these, the method adopted for the study was Survey Method 5.2.3 SURVEY METHOD Survey method is the systematic gathering of data from the respondents survey is the most commonly used method of primary data this is widely used because of its 10

1. 2. 3.

Extreme Flexibility Reliability Easy Understandability

The main purpose of survey is facilitate understanding or enable prediction of some aspects of the population being surveyed 5.2.4 SURVEY TECHNIQUE The technique used for conducting the survey is called Survey Technique. There are three technique to conduct the survey Viz. 1. 2. 3. Personal Interview Telephone Interview Mail Survey

The technique which has been in this survey is the Personal Interview. DATA COLLECTION METHOD The instrument used to collect data for the study was the structured questionnaire. 5.3. SAMPLING Sampling may be defined as the selection of some part of an aggregate or totality. On the basis of which a judgement or inference about the aggregate or totality is made. Research conducted by considering only a few units of population is called as Sampling. Sampling is an important and persuasive activity. Sampling technique has got its own Range of advantages 1. 2. 3. 4. Reduce cost owing to a study of selected units from the population Greater speed is there due to smaller units to be studied Greater accuracy is results Greater depth of information 11

5.

Reservation of units for reuse in destructive nature of experiments is possible

5.3.1

METHODS OF SAMPLING In this study non probability sampling has been adopted. Under the non

probability sampling convenience sampling has been taken for the purpose of study. CONVENIENCE SAMPLING The sampling units are chosen primarily on the basis of convenience to the researcher is known as Convenience Sampling. SAMPLE SIZE One can say that the sample must be an optimum size that it is should be excessively large nor too small. Technically, the sample size should be large enough to give a confidence interval of desired width and as such the size of the sample must be chosen by logical process before sample is taken from the universe. In order to extract much feasible results through the study. A sample size of 150 has been taken for the study. 5.4. QUESTIONNAIRE DESIGN

Questionnaire The term Questionnaire refers to a self-administered process whereby the respondent himself/herself reads the questions and records the answers with out assistance of an interviewer. Questionnaire is an essentially question asking and data gathering tool. A Questionnaire Is more structured and standardized than any other tool used in the similar technique by an investigator. The investigator has used four type of questions in this study. They are pointed and briefly described below: Close-end questions Such questions are also called fixed alternative questions. They refer to those questions in which the respondent is given a limited number of alternative responses from which the respond should select the one that most closely maches to their opinion. 12

Dichotomous questions A dichotomous question refers to one which offers the respond a choice between only two alternatives. Multiple-choice questioner A multiple-choice questioner refers to one which provides several set alternatives for its answer. It is a middle ground between free answer and dichotomous questions. The choice provided to the customer will be more than two in numbers. Rating sale A rating scale is a technique of attitude measurement. A rating scale may ask the respondent to rate a particular object along specific dimensions. In the marketing place it has a heavy emphasis on the measurement of the primary attitudes. The Primary attitude of different groups can be measured. Here the primary attitude of different groups can be measured. 5.5. TOOLS USED FOR ANALYSIS There must be an attempt to organize and summarize data in order to increase results usefulness in such a manner that enables to relate critical points with study objectives. This organizing and summarizing data requires the use of summary statistical measures such as percentage, average and dispersions. Since the research study has the collected marketing data through the use of sample the reliability of these summary estimates is required to be determined. The following are the tools that has been used to analysis the data. 5.5.1 K - S Test The Kolmogrov Smirnov Test (KS - Test) tries to determine if two data sets significantly. The KS - test has the advantage of making no assumption about the distribution of, data. (Technically speaking it is nonparametric and distribution free). It is a goodness of fit used to examine the distribution function of the random variable (X). 13

Test statistics T

= =

Sup I F (x) - S (x) ~ Supremum of the absolute value of the difference between F (x) and S (X)

Ho is rejected if T exceeds the 1 - a quantile (W1 - a) of the Kolmogrov Smirnov's Statistic. 5.5.2 SPEARMAN'S RANK CORRELATION The rank correlation co - efficient is a measure of correlation that exists between two sets or ranks. Spearman's Rank Correlation Co - efficient is calculated as follows: r=1-6Sdi2 n (n2 1) where n is number of packed observation d is the difference between one paired observation. The value of Spearman's Rank Correlation will always lie between -1 and +1. If the coefficient is Ho the ranks given by two sets of judges show perfect positive correlation. If it is -1, the ranks given by two sets of judges have a perfect negative correlation between them. 5.5.3 CHI - SQUARE TEST Chi - Square is an importance non - parametric test and as such no test are necessary in respect of the type of population. We require only the degree of freedom (implicity of course the size of the sample) for using this test. As a non - parametric test, Chi - square can be used (i) as a test of goodness of fit and (ii) as a test of independence. Since the researcher used test of independence only the details about test of independence is given below. TEST OF INDEPENDENCE test enables us to explain whether or not two attributes are associated attributes are associated. In order that we may apply the chi-square test either as test to judge the significance of association between attributes, it is necessary that the observed 14

aswellas theoretical or expected frequencies must be grouped in the same way and theoretical distribution must be adjusted to give the same total frequency as we find in case of observed distribution. Karl Pearson developed a test for testing the significance of discrepancy between experimental values and the theoretical values obtained under some theory or hypothesis. This test is known as 2 test of goodness of fit. Karl Pearson proved that the statistic 2= (O-E)2/E O - Observed Frequency E - Expected Frequency 2 is used to test whether difference between observed & expected frequencies are frequent. To find 2 table value degree of freedom should be calculated. Degree of freedom is calculated using the formula (r - 1) (c - 1). The table value for this degree of freedom is seen using 5% or 1% of significant level. If 2 table value is greater than 2 calculated value, Null Hypothesis is accepted or Null Hypothesis is rejected. CHAPTER-6 COMPANY PROFILE Way 2 wealth previously known as Sivan securities, is a premiere investment consultancy firm Sivan securities started in 1984, has a long illustrious track record of being amongst the premier financial intermediaries in the country as well as an incubator for IT-start up firms. The venture capital division came to be known as Global Technology ventures and the financial intermediary division was spun of as way 2 wealth in the year 2000. Way 2 wealth was promoted by Sivan securities and global technology ventures ltd. Prudential ICICI AMC provides further strength to way2wealth as strategic equity partner. 15

Over the years, Sivan has developed a strong reputation for navigating its investors through all the ups and downs in the market. Way 2 wealth has inherited these same in addition to a base of 75000 customers over 300 corporate/institutional clients. Other companies in the group include amalgamated bean coffee trading company ltd and caf coffee day, a chain of youth hangout coffee parlors Way 2 wealth is a premier investment consultancy firm that has been launched to with the aim of making investing simpler, more understandable and profitable to the investors. Way 2 wealth brings a wide range of product offerings from fixed income securities, life insurance and mutual funds to equity and derivatives for the convenience and benefits of its customers. Way 2 wealth has over 40 easily accessible investment outlets spread across 20 major towns and cities in the country. Way2wealth brokers Pvt ltd is an associate group company of way 2 wealth securities Pvt ltd. It is a trading and clearing member of NATIONAL STOCK EXCHANGE OF INDIA LTD for cash and debt segment and a trading member for derivatives segment and also a trading and clearing member of BGSE financial ltd. Bangalore is a clearing member of stock Holding Corporation of India ltd for derivatives clearing operations. It has 49 equity terminals and 36 derivatives terminals across 49 branches in India. Way2wealth brokers have commenced its equity trading and clearing operations in April 2001. It has since completed more than 550 settlements without delays or disruptions. It has started derivatives trading in June 2001 Its banker is HDFC Bank ltd for all equity, derivatives and debit market segments. Depository participant is with ING Vysya for NSDL pool account and stock Holding Corporation for CSDL pool account MISSION: Way2Wealth is a premier Investment Consultancy Firm, launched with the mission to be the pre-eminent destination for personalized financial solutions helping individuals creates wealth. PHILOSOPHY:

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We believe that our knowledge combined with our investors trust and involvement will lead to the growth of wealth and make it an exciting experience. PRODUCT PROFILE: Mutual Funds. Insurance. Equity and Derivatives. Bonds. Fixed Income Investments and Portfolio management Services.

NETWORK Headquartered in Bangalore, Way2Wealth has six regional offices located in West, North, Andhra Pradesh, Tamil Nadu, Kerala and Karnataka. Additionally the company has a network of 50 Investment outlets with the state of the art infrastructure to cater to the needs of retail investors. These outlets are spread across more than 20 major towns and cities in the country. HERITAGE: Sivan Securities started in 1984, has a long and illustrious track record of being amongst the premier Financial Intermediaries in the country as well as being an incubator for IT start-up firms. Mr.V.G.Siddhartha, the Chairman of the company is the visionary behind Way2Wealth Securities Pvt Ltd. The Venture Capital division came to be known as Global Technology Ventures and the Financial Intermediary Division was spun off as Way2Wealth in the year 2000. Way2Wealth is promoted by Sivan Securities and Global Technology Ventures Ltd. Prudential ICICI AMC provides further strength to Way2Wealth as strategic equity partner.

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Sivan has developed a strong reputation for navigating its investors through all the ups and downs in the market. Way2Wealth has inherited these same values in addition to a base of 75,000 individual customers, over 300 corporate/institutional clients.

Other companies in the group include: Amalgamated Bean Coffee Trading Company Ltd (one of the largest Coffee Exporters in India with over 250 outlets.) and

Caf Coffee Day, a chain of youth hangout coffee parlors. Way2Wealth has a very credible management team, who has well over 100 manyears of experience amongst themselves.

Activities of the company All customers receive individual attention. They provide investment solutions based investors needs. Holistic Investment planning: -Mutual funds, Life Insurance, Fixed Income generating, debt instruments Equity and Derivatives. They do not have any products of their own and customers benefit from unbiased and research-backed advice. They take care of all customers paper work and provide service at their doorstep. Customers with a minimum investment amount as low as Rs. 2500 per month can avail of their services. Life cycle investment planning- buying a home, education, childrens marriage, vocations, retirement planning etc. This unique Way2Wealth concept can be easily experienced through the innovative and customer friendly network of Investment outlets that spans 20 major towns and cities in the country. BACKGROUND:

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Way2Wealth is in the financial services industry, where holistic knowledge is at a premium, change is constant and inevitable, and the speed of response determines creation of wealth. Individuals who are dynamic and result oriented find their own niche in this environment. The growing crop of professionals in this industry mandates the new entrants to have a pleasing personality, excellent communication skills and a willingness to do good to the customers. Most importantly the individuals should possess a natural flair for understanding and selling financial products. Amidst this backdrop Way2Wealth is at the forefront redefining, pioneering and setting benchmark for the way financial intermediaries should function in the future. Their aim is to bring investment services to the doorstep of the consumer and be an integral part of their life cycle. PRODUCT PROFILE 6.2.1 Insurance Solutions for Individuals ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its 17 products can be enhanced with up to 6 riders, to create a customized solution for each policyholder. 6.2.2 Savings Solutions: Secure Plus is a transparent and feature-packed savings plan that offers 3 levels of protection. Cash Plus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options. Save n Protect is a traditional endowment savings plan that offers life protection along with adequate returns. Cash Bank is an anticipated endowment policy ideal for meeting milestone expenses like a child's marriage, expenses for a child's higher education or purchase of an asset. 6.2.3 Protection Solutions

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Lifeguard is a protection plan, which offers life cover at very low cost It is available in 3 options - level term assurance, level term assurance with return of premium and single premium. 6.2.4 Child Solutions Smart Kid child plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child's life Smart Kid child plan are also available with in unit-linked form - both single premium and regular premium.

6.2.5 -

Market-linked Solutions Life Link is a single premium Market Linked Insurance Plan which combines life insurance cover with the opportunity to stay invested in the stock market.

Lifetime offers customers the flexibility and control to customize the policy to meet the changing needs at different life stages It offers 3 investment options Growth Plan. Income Plan and Balanced Plan.

6.2.6 -

Retirement Solutions Forever Life is a retirement product targeted at individuals in their thirties. Secure Plus Pension is a flexible pension plan that allows one to select between 3 levels of cover.

6.2.7 -

Market-linked retirement products: Lifetime Pension is a regular premium market-linked pension plan. Life Link Pension is a single premium market-linked pension plan.

ICICI Prudential also launched "Salaam Zindagi", a social sector group insurance policy targeted at the economically underprivileged sections of the society. 6.2.8 Group Insurance Solutions:

20

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees. Group Gratuity Plan : ICICI Pru's group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations.

Group Superannuation Plan : ICICI Pru offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement. Group Term Plan : ICICI Pru's flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death. 6.2.9 Flexible Rider Options ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer. 1. Accident & disability benefit : If death occurs as the result of an accident

during the term of the policy, the beneficiary receives an additional amount equal to the sum assured under the policy. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit. 2. Accident benefit : This rider option pays the sum assured under the rider on

death due to accident. 3. Critical Illness Benefit : Protects the insured against financial loss in the event

of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death.

21

4.

Major Surgical Assistance Benefit : provides financial support in the event of

medical emergencies, ensuring that benefits are payable to the life assured for medical expenses incurred for surgical procedures. Cover is offered against 43 different surgical procedures. 5. Income Benefit : This rider pays the 10% of the sum assured to the nominee

every year, till maturity, in the event of the death of the life assured. It is available on Smart Kid, Secure Plus and Cash Plus. 6. Waiver of Premium : In case of total and permanent disability due to an

accident, the premiums are waived till maturity. This rider is available with Secure Plus and Cash Plus. 6.2.10 Protection Plan We all hope to live a full life till a ripe old age... to ensure our children's sustenance and healthy growth. But what if a sudden disability or illness strikes? Besides the grief and the pain, such an event also completely disrupts life for all the people who are financially dependent on us. Our life insurance policies offer a comprehensive range of protection benefits: Lifeguard - A low cost-high protection plan that offers protection over a specified period. Riders - Additional benefits that one can add on to the policy. The rider can

be opted for at the time of taking the basic policy. Additional premium is charged for each rider. An insurance policy can be tailor made to provide protection to you and your loved ones. If something were to happen to you, it can help : Safeguard Your Better Half: ensure life's continuity for your loved one. Dear and Near Ones: ensure continuity of lifestyle for your dependents. Attain Greater Heights: ensure your children's education continues undisrupted. Unforeseen circumstances: bear the cost of fighting an illness, disability, etc. 22

6.2.11 Child plan As a responsible parent, you will always ensure a hassle-free, successful life for your child. However, life is full of uncertainties and even the best laid plans can go wrong. Here's how you can give your child a 100% safe and assured tomorrow, whatever the uncertainties. Smart Kid Child Plans are designed to provide flexibility and to safeguard your child's future education and lifestyle, taking all possibilities into account.

CHAPTER-7 ANALYSIS & INTERPRETATION TABLE 3.1 GENDER CLASSIFICATION

Gender Male Female Total

No. of respondents 88 62 150

% 58.67 41.33 100

Inference 58.67% of the respondents surveyed are male.

23

FIGURE 3.1 GENDER CLASSIFICATION

GENDER CLASSIFICATION

Male

41%
Female

59%

24

TABLE 3. 2 AGE OF THE RESPONDENT

AGE 20-30 30-40 Above 40

No of respondents 22 47 81

% 14.67 31.33 54

Inference Majority of the respondents (54%) are in the age group above 40, around 31 % of the respondents are in the age group 30-40, and 15% are in the age group 20-30.

FIGURE 3. 2 AGE OF THE RESPONDENT

25

60 50 40 30 20 10 0 20 - 30 30 - 40 Above 40
No Of Respondent

TABLE 3.3 INCOME OF THE RESPONDENT

Income (Rs.) < 50000 150000-100000 100000-500000 > 500000 Total

No of respondents 8 38 97 7 150

% 5.33 25.33 64.67 4.67 100

Inference Majority of the respondents (around 65%) are in the income group of Rs.100000500000, around 25% have an income level of Rs.50000-100000, and around 5% of the respondents have an income below Rs.50000 and above Rs.500000 respectively.

26

FIGURE 3.3 INCOME OF THE RESPONDENT

100 90 80 70 60 50
No Of Respondent

40 30 20 10 0 <50,000 50,0001,00,000 1,00,0005,00,000 >5,00,000

TABLE 3.4 RANKING IN ORDER OF PREFERENCE TO THE VARIOUS SAVINGS SCHEMES

Factors 1 FIXED DEPOSIT POST OFFICE MUTUAL FUNDS INSURANCE REAL ESTATE SHARES 80 9 21 16 10 14 2 28 22 73 8 15 4

NO. OF RESPONDENTS 3 10 82 11 13 5 29 4 13 10 19 76 8 24 5 9 18 15 30 72 6 6 10 9 11 7 40 73

27

Inference: From the table it is seen that the ranking in order of the preference to the various schemes are give below: FACTORS FIXED DEPOSIT MUTUAL FUNDS POST OFFICE INSURANCE REAL ESTATE SHARES TABLE 3.5 INVESTMENT IN INSURANCE RANK I II III IV V VI

RESPONSE Yes No Total

No of respondents 138 12 150

% 92 8 100

Inference 92% of the respondents surveyed have invested in Insurance.

28

FIGURE 3.4 INVESTMENT IN INSURANCE

YES NO

TABLE 3.6 TYPE OF INSURANCE

TYPE Term ULIP Endo Pension Total

No of respondents 33 18 52 35 138

% 23.91 13.04 37.68 25.37 100

Inference Majority of the respondents (38%) have invested in Endo, around 24% in Term, 25% in Pension and 13% in ULIP. 29

FIGURE 3.5 TYPE OF INSURANCE

60

50

40

30

no of respodent

20

10

0 Term ULIP Endo Pension

TABLE 3.7 FACTORS INFLUENCING PURCHASE OF INSURANCE

Factors Risk cover Investment Tax saving Others Total

No of respondents 62 38 31 7 138

% 44.93 27.54 22.46 5.07 100

30

Inference Majority of the respondents, around 45%, purchase insurance because of risk cover, around 28% purchase insurance as investment, around 22% for tax saving and 5% for other reasons. FIGURE 3.6 FACTORS INFLUENCING PURCHASE OF INSURANCE

60 40 % 20 0
Risk cover Investment Tax saving Others

31

TABLE 3.8 EXPECTATIONS FROM AN INVESTMENT

OPTIONS Returns Liquidity Tax benefits Transparency Risk cover Total

No of respondents 69 54 67 15 98 303

% 22.77 17.82 22.11 4.95 32.35 100

Interpretation Majority. of the respondents look for Risk cover, Return and Tax benefits from an investments, followed by Liquidity and Transparency. FIGURE 3.7 EXPECTATIONS FROM AN INVESTMENT

32

35 30 25 20 15 10 5 0 Returns Liquidity Tax benefits Transparency Risk cover %

TABLE 3.9 WHETHER THERE IS A SINGLE PRODUCT TO SATISFY ALL THE EXPECTATIONS

Response Yes No Total

No of respondents 88 50 138

% 63.77 36.23 100

Interpretation Around 64% of the respondents think that there is a product that would satisfy all the expectations.

33

FIGURE 3.8 WHETHER THERE IS A SINGLE PRODUCT TO SATISFY ALL THE EXPECTATIONS

Whether there is a single product to satisfy all the expectations

36% Yes 64% No

TABLE 3.10 TABLE SHOWING WHETHER UNIT LINKED INSURANCE PRODUCT SATISFY ALL THE EXPECTATIONS

Response Yes No Total

No of respondents 59 29 88

% 67.05 32.95 100

Interpretation 34

Majority of the respondents (67%) think that Unit Linked Insurance Product satisfies all that is expected from an investment. FIGURE 3.9 TABLE SHOWING WHETHER UNIT LINKED INSURANCE PRODUCT SATISFY ALL THE EXPECTATIONS

No 33% Yes No Yes 67%

35

TABLE 3.11 AWARENESS OF ULIP

MEDIA Television Radio ,Newspaper Magazines Hoardings Others Total

No of respondents 21 15 48 28 17 9 138

% 15.22 10.87 34.78 20.29 12.32 6.52 100

Interpretation Majority of the respondents, around 35%, are aware of ULIP through Newspaper, around 20% through magazines, around 15% through television, around 12% through hoardings, around 11% through Radio and around 7% through other medium.

FIGURE 3.10 AWARENESS OF ULIP

36

40 30 20 10 0 Television Radio ,Newspaper Magazines Hoardings Others %

TABLE 3.12 LEVEL OF SATISFACTION WITH REFERENCE TO ULIP

RESPONSE Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total

No of respondents 37 57 23 14 7 138

% 27 41 17 10 5 100

Inference Majority of the respondents (41%) are satisfied with ULIP, 27% are highly satisfied. Around 10% of the respondents are dissatisfied and 5% are highly dissatisfied. Around 17% of the respondents are neither satisfied nor dissatisfied.
37

FIGURE 3.11 LEVEL OF SATISFACTION WITH REFERENCE TO ULIP

% 5%

10% 17%

27%

Highly satisfied Satisfied Neutral Dissatisfied

41%

Highly dissatisfied

38

TABLE 3.13 COMPANIES OFFERING ULIP

COMPANIES LIC ICICI Prudential Birla Sunlife AMP Sanmar HDFC Standard Others Total

No of respondents 85 38 16 14 31 4 188

% 45.21 20.21 8.51 7.45 16.49 2.12 100

Inference Around 45% of the respondents are aware that LIC offers this product, followed by ICICI prudential (20.21%), HDFC Standard (16.49%), Birla Sunlife (8.51%), AMP Sanmar (7.45%) and others (2.12%). FIGURE 3.12 COMPANIES OFFERING ULIP

39

Others HDFC Standard AMP Sanmar Birla Sunlife ICICI Prudential LIC 0 10 20 30 40 50

Percentage

40

TABLE 3.14 WHETHER INVESTED IN ULIP

RESPONSE Yes No Total

No of respondents 59 79 138

% 42.75 57.25 100

Inference Around 43% of the respondents who have invested in insurance have invested in ULIP. FIGURE 3.13 WHETHER INVESTED IN ULIP

Yes 43% No 57%

Yes No

41

TABLE 3.15 LEVEL OF SATISFACTION WITH RESPECT TO SERVICE PROVIDED

Response Excellent Good ~Moderate Poor Very poor Total

No of respondents 8 31 18 2 1 59

% 13.56 52.54 30.51 3.39 1.69 100

INFERENCE Majority of the respondents (52.24%) rate the service provided as good, some have rated the service provided as Moderate (30.51%), while 13.56% have rated it as excellent. Only 3.39% and 1.69% have rated the service provided as poor & very poor respectively. FIGURE 3.14 LEVEL OF SATISFACTION WITH RESPECT TO SERVICE PROVIDED

42

60 50 40 30 20 10 0 Excellent Good ~Moderate Poor Very poor %

STATISTICAL ANALYSIS i. KOLMOGROV SMIRNOV TEST

TO FIND OUT THE DISTRIBUTION OF RESPONDENT'S RATING PATTERN ABOUT CUSTOMER RELATIONSHIP Ho: Hj: Response Pattern obtained is uniformly distributed Response Pattern is not uniformly distributed

Test of Uniform Distribution OPINION F(x) 0.13 0.52 0.31 0.03 0.01 Cumulative Percentage 0.13 0.65 0.96 0.99 1 Null Hypothesis s(x) 1/5 2/5 3/5 4/5 5/5 Cumulative Percentage 0.20 0.40 0.60 0.80 1 Difference F(x) - S(x) -0.07 0.25 0.36 0.19 -

EXCELLENT GOOD MODERATE POOR VERY POOR

Calculated Value is:

43

T (F (x) - S (x)) = 0.36 Tabulated Value is: T (tab)= 1.22 / ~n When n = 5, T (tab)= 0.5456 Calculated value is less than tabulated value. Ho is accepted. INFERENCE: Response pattern obtained is uniformly distributed. SPEARMAN'S RANK CORRELATION NULL HYPOTHESIS Ho : There is no correlation between the ranking of fixed deposit and Mutual Fund among respondents i.e., r = 0 H1 : There is correlation between the ranking of Fixed deposit and Mutual Fund among respondent's i.e., r > 0 S.NO 1 2 3 4 5 6 7 8 RANK (X) 1 1 1 1 1 1 4 1 RANK (Y) 2 2 2 2 2 2 1 2
44

for 5 % significance level.

RANK DIFFERENCE DIFFERENCE SQUARE di2 (RANK X RANK Y) -1 -1 -1 -1 -1 -1 3 -1 1 1 1 1 1 1 9 1

9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

1 4 1 1 1 1 1 1 2 1 1 1 1 1 1 1 2

4 1 2 2 4 2 2 2 1 2 2 2 2 2 2 3 1

-3 3 -1 -1 -3 -1 -1 -1 1 -1 -1 -1 -1 -1 -1 -2 1

9 9 1 1 9 1 1 1 1 1 1 1 1 1 1 4 1 S d i2 = 60

45

X = FIXED DEPOSIT Spearman's r = 1 - 6 S d i2 n (n2- 1) = 1-6x60 25(25 2- 1) = = 1 - 0.023 0.977

Y = MUTUAL FUND

sr tabulated s, (t), n = 25 at 5% level of significance sr calculated s, (c) = 1 = vn-1 Upper limit (Ul) 1 = 0.20 v25-1

= , + sr (t) x sr (c) =0+0.3977x0.20 =0.08

INFERENCE: Since the `r' value = 0.977 it lies in the rejection region therefore we reject the null hypothesis at 5% level of significance and we accept the alternate hypothesis. Hence, we conclude that there is positive correlation between the ranking of Fixed deposit and Mutual fund among the respondents. ii. CHI - SQUARE TEST

To determine whether there is significant difference between age wise & whether invested in insurance H : There is no significant difference between age wise & whether invested in insurance H1 : There is significant difference between age wise & whether invested in insurance

AGE WISE

NO OF RESPONDENTS CHOICE YES

46

TOTAL NO

21 30 31 40 > 40 TOTAL

16 43 79 138

6 4 2 12

22 47 81 150

Expected Frequencies are: (138 * 22) / 150 = 20.24 (138 * 47) / 150 = 43.24 (138-* 81) / 150 = 74.52 Calculation of 2: Observed Frequency E d 16 6 43 4 71 2 Expected Frequency (E) 20.24 1.76 43.24 3.76 74.52 6.48 (O _ E)2 17.98 17.98 0.06 0.06 12.39 20.07 I (O - E)2 / E 0.89 1.21 0.001 0.02 0.17 3.09 5.38 Calculated 2 = (0- E)2 / E O - Observed Frequency E - Expected Frequency = 5.38 Calculated 2 = 5.38 Degree of Freedom = (3 - 1)(2 - 1) = 2 d.f at 5 % level of significance Therefore, Tabulated 2 = 5.991
47

( 12 * 22 / 150 = 1.76 (12 * 47) / 150 = 3.76 (12 * 81) / 150 = 6.48

Since Calculated 2 < Tabulated 2 Therefore, we accept the hypothesis. i.e.. There is no significant difference between age wise & whether invested in insurance CHAPTER-8 FINDINGS OF THE STUDY 58.67% of the respondents surveyed are male (Table-1). Majority of the respondents (54%) are in the age group above 40, around 31% of the respondents are in the age group 30-40, and 15% are in the age group 20-30 (Table-2). Majority of the respondents (around 65%) are in the income group of Rs.100000500000, around 25% have an income level of Rs.50000-100000, and around 5% of the respondents have an income below Rs.50000 and above Rs.500000 respectively (Table-3). It is seen that the ranking in order of the preference to the various schemes are give below: (Table-4) FACTORS FIXED DEPOSIT MUTUAL FUNDS POST OFFICE INSURANCE REAL ESTATE SHARES RANK I II III IV V VI

92% of the respondents surveyed have invested in Insurance. (Table-5).

48

Majority of the respondents (38%) have invested in Endo, around 24% in Term, 25% in Pension and 13% in ULIP(Table-6).

Majority of the respondents, around 45%, purchase insurance because of risk cover, around 28% purchase insurance as investment, around 22% for tax saving and 5% for other reasons. (Tab le-7).

Majority of the respondents look for Risk cover, Return and Tax benefits from an investments, followed by Liquidity and Transparency(Table-8). Around 64% of the respondents think that there is a product that would satisfy all the expectations (Table-9).

Majority of the respondents (67%) think that Unit Linked Insurance Product satisfies all that is expected from an investment (Table-10).

Majority of the respondents, around 35%, are aware of ULIP through Newspaper, around 20% through magazines, around 15% through television, around 12% through hoardings, around 11 % through Radio and around 7% through other medium .(Table-11).

Majority of the respondents (41%) are satisfied with ULIP, 27% are highly satisfied. Around 10% of the respondents are dissatisfied and 5% are highly dissatisfied. Around 17% of the respondents are neither satisfied nor dissatisfied (Table-12).

Around 45% of the respondents are aware that LIC offers this product, followed by ICICI prudential (20.21%), HDFC Standard (16.49%), Birla Sunlife (8.51 %), AMP Sanmar(7.45%) and others (2.12%)(Table-13).

Around 43% of the respondents who have invested in insurance have invested in ULIP (Table-14).

49

CHAPTER- 9 SUGGESTIONS A portion can be given as a guaranteed return to the customer so that a trust can be developed in customers mind. Constant update on NAV can be given to the customers and also help them in switching between funds. Special training can be given to the employees in handling the HIGH NETWORK INDIVIDUALS (HNI'S). The lock in period can also be reduced, which will help the customer in heaving a higher flexibility and higher liquidity.

CHAPTER- 10 APPENDIX QUESTIONNAIRE 1) 2) 3) Name Gender : Age 6 >20 4) : 6 M : 6 20-30 6 30-40 6 Above 40 650,000-1,00,000 6 <5,00,000 6F

Income per Annum : 6 >50,000

6 1,00,000 - 5,00,000 5)

Given below are different means through which savings can be done. Kindly Rank in order of your preference to the various savings schemes ( Rank from 1 6) 6 Fixed Deposit 6 Post Office 6 Mutual Funds

50

6 Insurance 6) 7)

6 Real Estate

6 Shares

Do you think Insurance as an Investment or just an risk cover Have you invested in insurance 6 Yes 6 No If yes what type of Insurance ? 6 Term 6 ULIP 6 Endo 6 Pension

8)

What factors influence you to buy Insurance ? 6 Risk cover 6 Investment

6 Tax Saving 6 Others 9) What are the things that you expect from an Investment ? 6 Returns 6 Transparency 10) 6 Liquidity 6 Risk cover 6 Tax benefits

Do you think there could be a single product that satisfies all the above factors ? 6 Yes 6 No

If yes, is it a Unit Linked Insurance product ? 6 Yes 6 No If No. what else ? 11) Through which media you are aware of Unit Linked Insurance 6 Television 6 Radio 6 News paper 6 Any other please specify Linked Products.

6 Magazines 6 Hoardings 12)

Kindly encircle your level of satisfaction with reference to the Unit

Insurance Product Highly Satisfied Highly Dissatisfied

51

5 13)

Which are the companies you think offer this product ? 6 LIC 6 ICICI 6 Prudential 6 Birla Sunlife 6 AMP Senmar 6 HDFC Standard

14)

6 Others . Have you invested in this Unit Linked Insurance Product ? 6 Yes 6 No If ves, which are the companies you have invested in

15)

Your level of satisfaction with the service provided by that company ? Excellent 5 Very poor

4 3 2 1 these

16)

What you think that can be done to create more awareness about

products ? . . .

52

CHAPTER-11 BIBLIOGRAPHY 1. Barry Berman, Joel R.Evans ` Retail Management-A Strategic ApproachFourth Edition- 1989, MacMillan Publishers, London. 2. Beri G.C., ` Marketing research'- Second Edition - Tata McGraw - Hill Publishing Company Ltd., New Delhi. 3. DR.D.D.Sharma `Marketing research Principles, Applications and Cases'Second Edition -1999 Dec., Prentice Hall of India Private Ltd., New Delhi-1. 4. Goel. B.S., Marketing Research. Meerut K.K.Mittal publishers , 1996. 5. Gupta. S.P, Statistical Methods , New Delhi , Sultan Chand & Sons Publishers . 1998. 6. Hall Publications . second edition 1998. 7. Kothari .C.R, Research Methodology , New Delhi , Vishva Prakashan Publications, Second Edition , Reprint Edition 2000. 8. Paul E Green Donald S Dull, Research for Marketing Decisions, New Delhi. 9. Philip kotler Gary Armstrong, Principle of Marketing, New Delhi , Printice - Hall Publications , Second Edition 1998. 10. Saravanavel P Research Methodology, Allahabad, Kitab Mahal

Publishers, 2001.

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