A Summer Training Project report

On
An Analysis of consumer perception
Towards
Reliance life insurance

In partial fulfillment for the award of the degree
Of
Bachelor of Business Administration BBA!A"#
S$B"ITT%& TO ' Su(mitted (y '

"s)Sonia *oswami +efin %apen

%nrolment no' ,-./01,020,
BBA !am#34th Sem
*uru *o(ind Singh Indraprastha $ni5ersity
!6A7&%R PRAB6$ +AI7 !O88%*% O9 6I*6%R ST$&I%S
Affiliated to *uru *o(ind Singh Indraprastha $ni5ersity#
&war:a; 7ew &elhi
1

&%!8ARATIO7
This is to certify that Thesis/Report entitled An Analysis of consumer perception
towards Reliance life insurance which is submitted by me in partial fulfillment of the
requirement for the award of degree BBA(A!" to ##$%& 'ni(ersity) *war+a) *elhi
comprises only my original wor+ and due ac+nowledgement has been made in the te,t to
all other material used-



&ate' 7ame of Student <+efin %apen


APPRO4%& B= '
"s)Sonia *oswami

.

!%RTI9I!AT%
This is to certify that Report entitled An Analysis of consumer perception towards
plan of Reliance life insurance which is submitted by +efin %apen in partial
fulfillment of the requirement for the award of degree B-B-A-( A!" to ##$%&
'ni(ersity) *war+a) *elhi is a record of the candidate own wor+ carried out by him
under my super(ision- The matter embodied in this thesis is original and has not been
submitted for the award of any other degree-
&ate' Super5isor Signature
/
A!>7O?8%&*%"%7T
% offer my sincere than+s and humble regards to !handerpra(hu +ain !ollege of
6igher Studies @ School of 8aw) ##$%& 'ni(ersity) 0ew *elhi for imparting us (ery
(aluable professional training in BBA(am"
-
% pay my gratitude and sincere regards to "s)Sonia *oswami ) my pro1ect #uide for
gi(ing me the cream of his +nowledge- % am than+ful to him as she has been a constant
source of ad(ice) moti(ation and inspiration- % am also than+ful to her for gi(ing her
suggestions and encouragement throughout the pro1ect wor+-
% ta+e the opportunity to e,press my gratitude and than+s to our computer 2ab staff
and library staff for pro(iding me opportunity to utili3e their resources for the
completion of the pro1ect-
% am also than+ful to my family and friends for constantly moti(ating me to complete
the pro1ect and pro(iding me an en(ironment which enhanced my +nowledge
$tudent4s $ignature
5
%A%!$TI4% S$""AR=
As a part of course curriculum of my BBA (A!" program we are as+ed to undergo one
and half month summer training in any organi3ation so as to gi(e us e,posure to practical
management 6 to get us familiar with (arious acti(ities ta+ing place in an organi3ation-
% ha(e put my sincere efforts to accomplish my ob1ecti(es within the stipulated time-
*espite all the limitations) obstructs7hurdles) and hindrances) % ha(e filed and wor+ed to
my optimum potential to achie(e the desired goal- Being neophytes in the highly
competiti(e world of business- % come across some difficulties to ma+e my ob1ecti(e a
reality- Any how) with the +ind help and genuine interest of one all all formally supported
by guidance of my guide- % am presenting this hand car(ed effort is coloured- % tried my
le(el best to conduct a research to gain a through +nowledge about the pro1ect in the topic
B An Analysis of consumer perception towards Reliance life insurance B % ha(e put
the best of my efforts and ha(e also tried to be 1ustice with the a(ailable- %f anywhere
something is found unacceptable or unnecessary to the theme you are welcomed with
your (aluable suggestions-
Than+s and regards-
8
I7&%A
Table of Contents
Student declaration 2
Certificate from Guide99999999---9999999999999----9----/
Acknowledgement........................................................................................................ 4
List of Tables..
1 &remium payment option !
List of Grap"s.#iii
.in#estment planning is important or not.4$
2.pattern of insurance!%
&nsurance ob'ecti#e!2
&nsurance co#er..!(
.
:A&T;R7 1< %0TR=*'T%=0
1-1 About the %ndustry 9999999999999999999999-- >7?
1-. About =rgani3ation/ ompany &rofile999999999999 1@71>
:A&T;R A .< 2iterature Re(iew
.-1 2iterature Re(iew 999999999999999999999999 .@7.5
.- . About The Topic9999999999999999999999999.B7/?
:A&T;R A /< R;$;AR: !;T:=*=2=#C
/-1 &urpose of the study9999999999999999999--999--- 51
/-. Research =b1ecti(es of the study9999999999999999999- 51
/-/ Research !ethodology of the study9999999999999999- 5.
/- /-1 Research *esign999999999999 9999999999------ 5/
/-/-. *ata ollection Techniques 9999999999999 55
/-/-/ $ample design999999999999999999999999--- 58
/-/-/-1 &opulation99999999999999999999999-- 58
/-/-/-. $ample si3e99999999999999999999999 58
/-/-/-/ $ampling method99999999999999999999---
/-/-5 !ethod of data collection99999999999999999999-- 5B
/-/-5-1 %nstrument for data collection9999999999999999999 5B
/-/-8 2imitations99999999999999999999999999 5D
:A&T;R A 5< A0A2C$%$6 %0T;R&R;TAT%=0 99999- 5?78>
5-1
:A&T;R7 8< E%0*%0#$ 6 $'##;$T%=0$
8-1 Eindings 9999999999999999999999999999-- B@
8-. $uggestions9999999--9999999--9999999--99999 B1
:A&T;R7 B< =02'$%=0999999999999999 B/7B5
B%B2%=#RA&:C
Bibliography99--999999--9999999--9999999--999 BB
B
!6APT%R 30

I7TRO&$!TIO7
D
I7&$STRI A8 PRO9I8%
%n %ndia some ;uropeans started the first life insurance company in Bengal &residency)
(i3-) The =rient 2ife %nsurance in 1>1>- The Cear 1>D@ was a year of land mar+ in the
history of %ndian %nsurance separating the early period of pioneering attempts at life
insurance from the subsequent period of steady de(elopment at the establishment of
%ndian life office) (i3-) Bombay !utual 2ife Assurance $ociety in 1>D1-
'p to end of 1?th century) the insurance was in the inspectional stage- Therefore no
legislation was required till that usually the %ndian ompany Acts 1>>/ was applicable-
$ince 1?8B) with the nationali3ation of insurance industry) the state A run 2ife %nsurance
orporation of %ndia (2%" has held the monopoly in %ndia- Then comes the 2&#
(2iberali3ation) &ri(ati3ation and #lobali3ation" that pa(ed entry of &ri(ate and Eoreign
2ife %nsurance players in %ndia during the late ?@Fs and earlier .@@@Fs- urrently %ndia and
hina are the most lucrati(e insurance mar+ets in the world- They constitute the home of
half of the population of the world and their recent rapid economic de(elopment ma+es
them attracti(e for foreign in(estment- The share of life insurance premium to #*& of
%ndia was 1-.? percent) which is abysmal in the global standard- *espite these
opportunities) howe(er) there is also a rough ride ahead for the new players in %ndia- This
is because) unli+e in the Gest) insurance is sold more as an instrument of sa(ings in %ndia
than as a product offering for protection and security- 2%Fs 1??B insurance sur(ey
re(eals that more than 5@ percent of insurance7buyers loo+ at insurance products as a
means of sa(ings- Ris+ co(erage is only a secondary ob1ecti(e for them and nearly .B
percent of the insurance policies sold are on considerations of old age security- =nly 1>
percent of insurance policies are sold on death ris+ considerations-
%nsurance Regulatory and *e(elopment Authority (%R*A"
The regulatory body for insurance %R*A has been established with the following mission<
HTo protect the interests of the policy holders) to regulate) promote and ensure orderly
growth of the insurance industry and for matters connected therewith or incidental
thereto-H
>
The business of life insurance in %ndia in its e,isting from started in %ndia in the
year 1>1> with the establishment of the =riental life %nsurance ompany in alcutt
$ome of the important milestones in the life insurance business in %ndia are<
1?1.< The %ndian 2ife Assurance ompanies Act enacted as the first
statutory regulate the life insurance business-
1?/>< ;arlier legislation consolidated and amended to by the %nsurance
Actwith the ob1ecti(e of protecting the interest of the insuring public-
1?8B<.58%ndian and foreign insurers and pro(ident societies ta+en o(er
byt h e c e n t r a l g o ( e r n m e n t a n d n a t i o n a l i 3 e d - 2 % f o r m e d
b y a n A c t o f &arliament) (i3- 2% Act)
1?8B) with a capital contribution of Rs-8crore from the #o(ernment of %ndia-The
#eneral insurance business in %ndia) on the hand) can trace its roots to the Triton
%nsurance ompany 2td- ) the first general insurance company established
in the years 1>8@in alcutta by the British-$ome of the important milestones in the
general insurance business in %ndia are<
1?@D< The % ndi an !er cant i l e % ns ur ance 2t d - s et up) t he f i r s t
company t o transact all classes of general insurance business-
1?8D< #eneral %nsurance ouncil) a wing of the %nsurance Associations
of %ndia) fames a code of conduct for ensuring fair conduct and sound
business practices-
1?B>< The %nsuring Act amended to regulate in(estments and set minimum
sol(ency margins and the Tariff Ad(isory ommittee set up-
?
0)/ PRO9I8% O9 T6% OR*A7ICATIO7
Reliance 2ife %nsurance is here with $olutions for %ndi(iduals) a series of plans that will
help you ma+e wise in(estments) protect your family) secure your child4s future and e(en
chal+ out a plan for your retirement-
Reliance 2ife %nsurance offers you products that fulfill your sa(ings and protection needs-
=ur aim is to emerge as a transnational 2ife %nsurer of global scale and standard-
Reliance 2ife %nsurance is an associate company of Reliance apital 2td-) a part of
Reliance 7 Anil *hirubhai Ambani #roup- Reliance apital is one of %ndia4s leading
pri(ate sector financial ser(ices companies) and ran+s among the top / pri(ate sector
financial ser(ices and ban+ing companies) in terms of net worth- Reliance apital has
interests in asset management and mutual funds) stoc+ bro+ing) life and general
insurance) proprietary in(estments) pri(ate equity and other acti(ities in financial
ser(ices-
Reliance 7 Anil *hirubhai Ambani #roup also has presence in ommunications) ;nergy)
0atural Resources) !edia) ;ntertainment) :ealthcare and %nfrastructure-
1@
Our 9ounder
Eew men in history ha(e made as dramatic a contribution to their country4s economic
fortunes as did the founder of Reliance) Shri) &hiru(hai 6 Am(ani- Eewer still ha(e left behind
a legacy that is more enduring and timeless-
As with all great pioneers) there is more than one unique way of describing the true
genius of *hirubhai< The corporate (isionary) the unmatched strategist) the proud patriot)
the leader of men) the architect of %ndia4s capital mar+ets) the champion of shareholder
interest-
But the role *hirubhai cherished most was perhaps that of %ndia4s greatest wealth creator-
%n one lifetime) he built) starting from the pro(erbial scratch) %ndia4s largest pri(ate sector
enterprise-
Ghen *hirubhai embar+ed on his first business (enture) he had a seed capital of barely
'$I /@@ (around Rs 15)@@@"- =(er the ne,t three and a half decades) he con(erted this
fledgling enterprise into a Rs B@)@@@ crore colossusJan achie(ement which earned
Reliance a place on the global Eortune 8@@ list) the first e(er %ndian pri(ate company to
do so-
*hirubhai is widely regarded as the father of %ndia4s capital mar+ets- %n 1?DD) when
Reliance Te,tile %ndustries 2imited first went public) the %ndian stoc+ mar+et was a place
patroni3ed by a small club of elite in(estors) which dabbled in a handful of stoc+s-
'ndaunted) *hirubhai managed to con(ince a large number of first7time retail in(estors
to participate in the unfolding Reliance story and put their hard7earned money in the
11
Reliance Te,tile %&=) promising them) in e,change for their trust) substantial return on
their in(estments- %t was to be the start of one of great stories of mutual respect and
reciprocal gain in the %ndian mar+ets-
'nder *hirubhai4s e,traordinary (ision and leadership) Reliance scripted one of the
greatest growth stories in corporate history anywhere in the world) and went on to
become %ndia4s largest pri(ate sector enterprise-
Through out this ama3ing 1ourney) *hirubhai always +ept the interests of the ordinary
shareholder uppermost in mind) in the process ma+ing millionaires out of many of the
initial in(estors in the Reliance stoc+) and creating one of the world4s largest shareholder
families-
Achie5ements
R2% has been one of the fast gainers in mar+et share in new business premium amongst
the pri(ate players with an incremental mar+et share of 5-1D in the Einancial Cear .@@D7
@> A from /-?K in April @D to >K in Eeb @>- ($ource< %R*A"
Also continues to be amongst the fast growing &ri(ate 2ife %nsurance ompanies with a
C=C growth of 1?8D in new business premium as of !ar4@>
A ompany that has crossed 1-D !illion policies in 1ust . years of operation) post ta+e
o(er of A!& $anmar business-
%nitiated ;,press 2ife < an 'nique 4=(er the ounter4 sales process for 'nit 2in+ed
%nsurance &olicies in the %ndustry-
Accomplished a large distribution ramp7up in the %ndustry in a short span of time by
opening B@@ branches in 1@ months ta+ing the o(erall branch networ+ abo(e D5@-
1.
R2% continues to be one of the two 2ife %nsurance companies in %ndia to be certified
%$= ?@@1<.@@@ for all the processes-
PROB8%"S O9 T6% OR*A7ICATIO7

To determine customers le(el of satisfaction aspire plans with the quality of their
transaction with Reliance 2ife %nsurance-
The biggest challenge faced by the #o(ernment today is that of a regulator with the
prospect of about /@ or 5@ players) each represented by thousands of agents) bro+ers and
intermediaries- To e(ol(e a free and fair method of assessing the companies) to ensure
fair play between the competitors and to safeguard the interests of the largely uninformed
customers are the main tas+s ahead- The other and equally serious aspect is to ensure that
the (ast amounts collected by the insurance and pension funds are utilised for the welfare
of the people- Though the #o(ernment itself would not be the guarantor of the policy
monies) ne(ertheless) it is accountable through its regulatory mechanism) to put in place
prudential norms of in(estment and accounting) re(enue recognition) fair (aluation of
assets and liabilities) determining necessary margins towards any contingencies and
proper reser(es for shrin+age of in(estments will ha(e to be made- 0e(ertheless) care has
to be ta+en to see that there is not too much of control and regulation- A certain degree of
autonomy in the functioning of insurance companies has to be allowed so that they get
necessary freedom and space to perform and e,cel- The %R*A) along with the ad(isory
committee constituted recently) is eminently qualified to underta+e these tas+s- %n
addition) a proposal has also been mooted to constitute a federation of insurance
companies analogous to the %ndian Ban+s4 Association- $uch an institution will pro(ide
guiding principles) lay down a code of insurance ethics and generally act as a facilitator
for both the life and non7life industry-
1/
As for the e,isting player) the public sector giant) the 2ife %nsurance orporation of
%ndia) the challenge is one of sustaining the huge growths it has shown in the recent
times- %t has to face competition for the first time in its history) particularly in the urban
centres- %t has to manage its huge operations more efficiently than at any other time in the
past- %t has to thin+ of equipping its personnel (staff and agents" to face competitors and it
may ha(e to thin+ of di(ersifying its acti(ities to achie(e economies in some areas-
As far as the prospecti(e entrants are concerned) the greatest challenge is to establish
their presence in the minds of the public- %nsurance) particularly life insurance) it is said)
is ne(er bought but sold- To con(ince a large population) which is comparati(ely not well
informed about the intangible benefits of life insurance is indeed an onerous tas+- =n top
of that) to establish the brand equity of a new name in a new field is quite a challenge-
The second most important challenge facing a new entrant is that of setting up
infrastructure and to reach out to as many areas as possible) since life insurance is based
on probability and the wider the spread) the greater are the chances of success in
maintaining the e,pense ratios at a reasonable le(el-
!odern life perhaps offers challenges that will be common to all the abo(e-
%mpro(ements in health and longe(ity) the recent brea+throughs in the mapping of the
human genome and the frequent changes in the economy may ha(e far7reaching effects
on life and health insurance- *e(ising products that match the changing needs of the
people and managing the funds in a (olatile scenario are two problems that will ha(e to
be tac+led by e(ery player in the days to come-
15
!O"P%TITIO7 I79OR"ATIO7
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S?OT A7A8=SIS O9 T6% OR*A7ICATIO7
$G=T Analysis is a technique for understanding strengths) wea+ness) opportunities and
threats of an organi3ation-
1B
The $G=T Analysis is a technique used for identifying an organi3ation4s strength4s and
wea+ness and e,amining the opportunities and threats which the organi3ation is facing-
Strengths Weaknesses
Opportunities threats
Strengths
!ar+eting e,pertise
Big distributional channel
%nno(ati(e product or ser(ices
Brand name
1D
?ea:nesses
$imilar products offered by the competitors
'ndifferentiated price in comparison to the competitors
Anticipated returns are told to the customers
2ess of organi3ation culture
Opportunities
0o startup capital required
Ele,ible wor+ing en(ironment
Be your own boss
'nlimited earning potential
To be part of a world7class team
Threats
&rice conflicts with the competitors
&roduct and ser(ice conflicts with competitors
hange in go(ernment policy regarding ta,ation
Rapid launch of more companies in the same industry
1>
!6APT%R 3/

8IT%RAT$R% R%4I%?

1?
Reliance 2ife %nsurance is here with $olutions for %ndi(iduals) a series of plans that will
help you ma+e wise in(estments) protect your family) secure your child4s future and e(en
chal+ out a plan for your retirement-
Reliance 2ife %nsurance offers you products that fulfill your sa(ings and protection needs-
=ur aim is to emerge as a transnational 2ife %nsurer of global scale and standard-
Reliance 2ife %nsurance is an associate company of Reliance apital 2td-) a part of
Reliance 7 Anil *hirubhai Ambani #roup- Reliance apital is one of %ndia4s leading
pri(ate sector financial ser(ices companies) and ran+s among the top / pri(ate sector
financial ser(ices and ban+ing companies) in terms of net worth- Reliance apital has
interests in asset management and mutual funds) stoc+ bro+ing) life and general
insurance) proprietary in(estments) pri(ate equity and other acti(ities in financial
ser(ices-
Reliance 7 Anil *hirubhai Ambani #roup also has presence in ommunications) ;nergy)
0atural Resources) !edia) ;ntertainment) :ealthcare and %nfrastructure-
4ision'
To ma+e reliance the dominant 2ife and &ensions player built on trust by
world7class people and ser(ice -This we hope to achie(e by<
'nderstanding the needs of customers and of f er i ng t hem s uper i or
pr oduct s and ser(ice
2e(eraging technology to ser(ice customers quic+ly) efficiently and con(eniently
*e(eloping and implementing superior ris+ management and in(estment strategies to
offer sustainable and stable returns to our policyholders
&ro(iding an enabling en(ironment to foster growth and learning for our
;mployees
.@
R%8IA7!% !APITA8 8I"IT%&
R2 is registered as a depository participant with 0ational $ecurities *epository 2td
(0$*2" and entral *epository $er(ices 2td (*$2" under the $ecurities and ;,change
Board of %ndia (*epositories and &articipants" Regulations) 1??B- R2 has sponsored the
Reliance !utual Eund within the framewor+ of the $ecurities and ;,change Board of
%ndia (!utual Eund" Regulations) 1??B-R2 primarily focuses on funding pro1ects in the
infrastructure sector and supports the growth of its subsidiary companies) Reliance
apital Asset !anagement 2imited) Reliance apital Trustee o- 2imited) Reliance
#eneral %nsurance ompany 2imited and Reliance 2ife %nsurance ompany 2imited- As
of !arch /1) .@@8) the company4s in(estment in infrastructure pro1ects stood at Rs- 1@D1
rores- The in(estment portfolio of R2 is structured in a way that reali3es the highest
post7ta, return on its in(estments
Reliance apital is one of %ndia4s leading and fastest growing pri(ate sector financial
ser(ices companies) and ran+s among the top / pri(ate sector financial ser(ices and
ban+ing companies) in terms of net worth-
.1
0# Reliance "utual 9und R"9#
Reliance !utual Eund) a part of the Reliance 7 Anil *hirubhai Ambani #roup (R7
A*A#" is one of the fastest growing mutual funds in the country -Reliance !utual Eund
offers in(estors a well rounded portfolio of products to meet (arying in(estor
requirements- Reliance !utual Eund (R!E" is one of %ndia4s leading !utual Eunds) with
Assets 'nder !anagement (A'!" of Rs- 8?)>8D crore (A'! as on /@th Nune .@@D" and
an in(estor base of o(er /-5million- Reliance !utual Eund constantly endea(ours to
launch inno(ati(e products and customer ser(ice initiati(es to increase (alue to
in(estors-Reliance !utual Eund schemes are managed by Reliance apital Asset
!anagement 2td-) a wholly owned subsidiary of Reliance apital 2td- Reliance apital
is one of %ndiaFs leading and fastest growing pri(ate sector financial ser(ices companies)
..
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and ran+s among the top / pri(ate sector financial ser(ices and ban+ing
companies-Reliance apital has interests in asset management and mutual funds) life and
general insurance) pri(ate equity and proprietary in(estments) stoc+ bro+ing and other
financial ser(ices
(http<//www-reliancemutual-co-in"
/# Reliance "oney
Reliance !oney is a group company of Reliance apitalR one of %ndiaFs leading and
fastest growing pri(ate sector financial ser(ices companies) ran+ing among the top /
pri(ate sector financial ser(ices and ban+ing companies) in terms of net worth- Reliance
apital is a part of the Reliance Anil *hirubhai Ambani #roup-
Reliance !oney is a comprehensi(e electronic transaction platform offering a wide range
of asset classes- %ts endea(our is to change the way %ndia transacts in financial mar+ets
and a(ails financial ser(ices- Reliance !oney is a single window) enabling you to access)
amongst others in ;quities) ;quity 6 ommodities *eri(ati(es) !utual Eunds) %&=s)
2ife 6 #eneral %nsurance products) =ffshore %n(estments) !oney Transfer) !oney
hanging and redit ards-
E# Reliance !onsumer 9inance
Reliance apital is entering the consumer finance business through a tie7up with :*E
Ban+- The credit card business is first on its list of preferences and the present mo(e
would facilitate 1ust that- This would be followed up by an entire range of acti(ities li+e
housing) auto and personal loans-
According to sources) the agreement would basically cater to the credit card business-
The formal announcement will come in the ne,t few wee+s as the final modalities are
./
being wor+ed out- Ghen contacted by ;T) a Reliance apital spo+esman confirmed that
discussions were on with a ban+) but declined to di(ulge any details-
As per industry estimates) there are around 1>-/m credit cards currently in use in the
%ndian mar+et- The field is dominated by itiban+) $tandard hartered Ban+) :$B and
the $tate Ban+ of %ndia- The other prominent players include %%%) :*E and AB0
Amro-
The issuing potential is estimated at a significantly higher ..@m by 41@- Ghat also
enthuses new players is the low penetration le(els in the %ndian credit card mar+et-
Against a global a(erage of 5-BK) %ndia4s penetration is said to be below 1K- =n the flip
side) annual spend per credit card in %ndia is 1ust I/D>- The reasons for low spend include
lac+ of acceptance infrastructure and high interest rate regime-
Eor the Rs ?8@7crore Reliance apital) which operates in the insurance) mutual fund)
stoc+ bro+ing and pri(ate equity space) credit cards would be its first product in the
consumer finance space- %t demonstrates its growing appetite to enlarge its scope as a full
financial ser(ice player- Besides) its (olumes in the credit cards business could also be
shored up and complemented by its mutual funds and insurance acti(ities-
-# Reliance *eneral Insurance
Reliance #eneral %nsurance offers a wide range of products for corporate and indi(idual
customers- Gith a focus on customer centric products) multiple distribution channels and
technology adoption we aim to capture substantial mar+et share across product lines-
Reliance #eneral %nsurance) a $ubsidiary of Reliance aptial) is one of the first non7life
companies to get the license from the %R*A- R#%2 offers an e,hausti(e range of
insurance products that co(ers most ris+s including &roperty) !arine) asualty and
2iability-Reliance #eneral %nsurance is the fastest growing pri(ate sector general
.5
insurance company in %ndia with inno(ati(e product offerings and customer ser(ice
standards that are benchmar+ed to the best insurance practices in the world
-# Reliance 8ife Insurance
&ast profile of reliance life insurance
Reliance 2ife %nsurance ompany 2imited is a part of Reliance apital 2td- of the
Reliance 7 Anil *hirubhai Ambani #roup- Reliance apital is one of %ndia4s leading
pri(ate sector financial ser(ices companies) and ran+s among the top / pri(ate sector
financial ser(ices and ban+ing companies) in terms of net worth- Reliance apital has
interests in asset management and mutual funds) stoc+ bro+ing) life and general
insurance) proprietary in(estments) pri(ate equity and other acti(ities in financial
ser(ices-
Reliance apital 2imited (R2" is a 0on7Ban+ing Einancial ompany (0BE"
registered with the Reser(e Ban+ of %ndia under section 587%A of the Reser(e Ban+ of
%ndia Act) 1?/5-
Reliance apital sees immense potential in the rapidly growing financial ser(ices sector
in %ndia and aims to become a dominant player in this industry and offer fully integrated
financial ser(ices-
Reliance 2ife %nsurance is another step forward for Reliance apital 2imited to offer
need based 2ife %nsurance solutions to indi(iduals and orporates-
Reliance 2ife %nsurance has a pan presence and a range of products catering to indi(idual
as well as corporate needs
A total of 1B products co(ering sa(ings) protection 6 in(estment requirements
.8
*OA8
Reliance 2ife %nsurance would stri(e hard to achie(e the following goals<7
;merge as transnational 2ife %nsurer of global scale and standard
Achie(e impeccable reputation and credentials through best business practices
#uiding &rinciples
-Customer Care and Satisfaction
-CorporateGovernance
-CreativityandInnovation
-Competitiveness
Pision < ;mpowering e(eryone li(e their dreams
!ission < reate unmatched (alue for e(eryone through dependable) effecti(e)
transparent and profitable life insurance and pension plans--
PRO&$!TS O9 R%8IA7!% 8I9% I7S$RA7!%
Indi5idual plans
$a(ings (;ndowment"
Reliance ;ndowment &lan
Reliance $pecial ;ndowment &lan
Reliance ash Elow &lan
Reliance hild &lan
Reliance Ghole 2ife &lan
Reliance onnect . 2ife &lan
Retirement
Reliance #olden Cears &lan
Reliance #olden Cears &lan Palue
.B
Reliance #olden Cears &lan &lus
'nit 2in+ed
Reliance Automatic %n(estment &lan
Reliance !oney #uarantee &lan
Reliance !ar+et Return &lan
%mployee (enefit plans
Ris+ (&rotection"
Reliance #roup Term Assurance &olicy
Reliance ;*2% $cheme
&ensions
Reliance #roup #ratuity &olicy
Reliance #roup $uperannuation &olicy
Ris+ / &rotection
Reliance Term &lan
Reliance $imple Term &lan
Reliance $pecial Term &lan
Reliance redit #uardian &lan
8I9% !=!8%
.D
Life Line

A7A#;
!;7!=0;C ;AR0;*
272AM:
Life Line
.>
A75@
A7.@
!;7
.-52
A75@
!;782
A7B@
!;7
82S.@
Eor e,ample <7 %f the person starts earning from the age of .1 and earns Rs-.@@@@ per
month that means Rs-.-5 lac+s per annum and now the current age of the man is 5@ yrs so
we can assume with the nominal increment in his income he will earn appro, Rs-5 crore-
And he would li+e to ha(e retirement probably at the age of B@yrs- $urely he would li+e
to en1oy standardi3ed life after B@ yrs- :e would ha(e earned Rs-1@ crore between those
.@ yrs that means he has the worth of Rs-1@ crore- Ghat if the figure of Rs1@ crore get
(anish in the midst of 5@ to B@ yrsT :e has incurred all the e,penses (ia< children
education) children marriage household e,penses) miscellaneous e,penses) retirement
e,penses- !ortgage and debt e,penses etc -These e,penses so imperati(e that they ha(e
to be incurred e(en if that man does not e,ist-
There is no another liquidi3ed asset other than the insurance which he will get
immediately at the time of death-
OB+%!TI4%
.?
1@ R=R;
*ebt and
mortgage
e,penses
hildren
education
:ouse hold
e,penses
!iscellaneous
e,penses
Retirement
e,penses
hildren
marriage
1- To gain familiarity with a phenomenon or to achie(e new insights
into it-
.- To portray accurately the characteristics of a particular indi(idual
situation or a group-
/- To determine the frequency with which something occurs or with
which it is associated with something else-
5- To test a hypothesis of a casual relationship between (ariables-
8- To disco(er answers to questions through the application of
scientific procedures-
O$R P8A7S
Protection Plans
%n today4s uncertain world) there could be calamity at e(ery step of the life- %t is up to you
to ensure that your family stays protected always-
Reliance &rotection &lans helps you do e,actly the same- Cou ha(e a wide range of
options to choose a plan from- Right from limited period plans to lifetime protection
plans) you can opt for the one that suits your lifestyle-
Ghile we understand that nothing can compensate for the loss of a life) we intend to
pro(ide you the peace of mind- %n(esting in Reliance &rotection &lans would mean your
family4s future is in safe
Reliance Term Plan
/@
%n(est in the Reliance Term &lan) a pure life insurance plan that offers you
comprehensi(e and affordable co(erage for a limited period of time to suit your
needs-
Reliance Simple Term Plan
!a+e a smart in(estment mo(e by in(esting in the cost7effecti(e Reliance $imple
Term &lan) which offers you comprehensi(e co(erage for a specified period of
time to suit your needs-
Reliance Special Term Plan
%magine a life insurance policy) which on maturity returns to you all the premiums
you had paid for your basic policy- The Reliance $pecial Term &lan offers that and
much more-
Reliance !redit *uardian Plan
The Reliance redit #uardian &lan secures your family from any loan liabilities
you ha(e incurred in case of your untimely demise- =n sur(i(al at maturity) you
will be returned all the premiums paid for the basic policy-
Reliance Special !redit *uardian Plan
%n(est in the Reliance $pecial redit #uardian &lan and protect your family from
any loan liabilities you ha(e incurred- =n sur(i(al at maturity) all premiums paid
for the basic policy will be returned to you-
Reliance %ndowment Plan
The Reliance ;ndowment &lan gi(es you financial independence by allowing you
to decide the amount of $um Assured based on your current financial position and
e,pected future e,penses9 *reamU
Reliance Special %ndowment Plan
/1
%magine an endowment plan that protects you for a certain period e(en after you
ha(e recei(ed your lump sumJthat is e,actly what the Reliance $pecial
;ndowment &lan offers you with other added benefits-
Reliance !onnect / 8ife
The Reliance onnect . 2ife &lan gi(es you the option to upgrade your life co(er
to +eep pace with your changing lifestyle- As your income grows) your family
will ha(e sufficient co(er-
Reliance ?hole 8ife Plan
#i(e your family a lifetime of timely financial support by in(esting in the
Reliance Ghole 2ife &lan- This will help you en1oy your life to the fullest-
Reliance ?ealth F 6ealth Plan
%n(est in the Reliance Gealth :ealth &lan and balance your health needs and
wealth needs) without compromising on either health or wealth-
Reliance !ash 9low Plan
%n(est in the Reliance ash Elow &lan and reap the dual benefits of a life
insurance plan and easy liquidity through lump sum cash) which means you can
get a percentage of the $um Assured at periodic inter(als-
Sa5ings @ In5estment Plans
%n life) you ha(e always gi(en your family whate(er they ha(e wanted- Cet) there are
some promises you ha(e to fulfill) such as ta+ing your family for a (acation) or buying
that dream house-
$et aside some money to achie(e these specific goals with the help of Reliance $a(ings
6 %n(estment &lans- The plan allows you to e,perience the 1oys of life and pro(ide for
your family4s needs-
/.
;n1oy life without worrying about the promises you ha(e madeJwe are here to fulfil
them-
Reliance Super In5est Assure Plan
Reliance $uper %n(est Assure is a complete plan which addresses your (ital needs
li+e Ele,ibility) $ecurity) %n(estment Return and Einancial &lanning- Gith all its
+ey benefits) it is here to ensure that there will always be more than you can as+
for-
Total In5estment Plan 3 Insurance
Reliance T%&$ 7$eries %7 %nsurance is a 'nit 2in+ed %n(estment V %nsurance &lan
that helps you meet all your financial needs) without the comple,ity of managing
multiple products-
Reliance ?ealth F 6ealth Plan
%n(est in the Reliance Gealth :ealth &lan and balance your health needs and
wealth needs) without compromising on either health or wealth-
Reliance Automatic In5estment Plan
The Reliance Automatic %n(estment &lan is an enhanced unit lin+ed plan that
allows you to choose the right in(estment mi, to reap ma,imum benefits- %t also
pro(ides you with enhanced 2ife o(er-
Reliance "oney *uarantee Plan
To reap the benefits of a rising mar+et and to protect yourself from any mar+et
decline) in(est in the unit lin+ed Reliance !oney #uarantee plan that gi(es you
the perfect balance between &rotection and $a(ings-
Reliance !ash 9low Plan
//
%n(est in the Reliance ash Elow &lan and reap the dual benefits of a life
insurance plan and easy liquidity through lump sum cash) which means you can
get a percentage of the $um Assured at periodic inter(als-
Reliance "ar:et Return Plan
The Reliance !ar+et Return &lan gi(es you insurance protection and allows you
to benefit from in(estment growth- %t wor+s through your life and meets the
changing requirements you may ha(e from time to time-
Reliance %ndowment Plan
The Reliance ;ndowment &lan gi(es you financial independence by allowing you to
decide the amount of $um Assured based on your current financial position and e,pected
future e,penses-
Reliance Special %ndowment Plan
%magine an endowment plan that protects you for a certain period e(en after you
ha(e recei(ed your lump sumJthat is e,actly what the Reliance $pecial
;ndowment &lan offers you with other added benefits-
Reliance ?hole 8ife Plan
#i(e your family a lifetime of timely financial support by in(esting in the
Reliance Ghole 2ife &lan- This will help you en1oy your life to the fullest-
Reliance *olden =ears Plan
The Reliance #olden Cears &lan helps you sa(e systematically and generate the
much7needed corpus to help you en1oy life after retirement-
/5
Reliance *olden =ears Plan 4alue
Reali3e all your dreams of playing golf) or going for a world tour after retirement
by in(esting in the Reliance #olden Cears &lan Palue) which helps you generate
the amount you will need for the future-
Reliance *olden=ears Plan Plus
%n(est in the special Reliance #olden Cears &lan &lus that not only helps you
build the corpus you need after) but also collects a basic minimum amount in case
something were to happen before you realise your dreams-
Reliance !onnect / 8ife Plan
The Reliance onnect . 2ife &lan gi(es you the option to upgrade your life co(er
to +eep pace with your changing lifestyle- As your income grows) your family
will ha(e sufficient co(er-
Retirement Plans
Cou are a young and earning indi(idual- The income you earn allows you to en1oy life)
your only worry being whether you will be able to continue the same lifestyle after
retirement-
A Reliance Retirement &lan will help you sa(e money for your retirement- %t ensures that
you continue to get some income after retirement thereby ensuring that you do not ha(e
to depend on any other person or ma+e any compromises to maintain the same lifestyle-
%n(est in a Reliance Retirement &lan today and en1oy life after retirement on your own
terms-
Total In5estment Plan 3 Pension
Ghen you in(est in the Reliance Total %n(estment &lan) you gi(e yourself the
assurance that you will ma+e each one of your dreams come true-
Reliance *olden =ears Plan
/8
The Reliance #olden Cears &lan helps you sa(e systematically and generate the
much7needed corpus to help you en1oy life after retirement-
Reliance *olden =ears Plan 4alue
Realise all your dreams of playing golf) or going for a world tour after retirement
by in(esting in the Reliance #olden Cears &lan Palue) which helps you generate
the amount you will need for the future-
-Reliance *olden =ears Plan Plus
%n(est in the special Reliance #olden Cears &lan &lus that not only helps you
build the corpus you need after) but also collects a basic minimum amount in case
something were to happen before you realise your dreams-
Reliance ?ealth F 6ealth Plan
%n(est in the Reliance Gealth :ealth &lan and balance your health needs and
wealth needs) without compromising on either health or wealth-
Reliance Automatic In5estment Plan
The Reliance Automatic %n(estment &lan is an enhanced unit lin+ed plan that
allows you to choose the right in(estment mi, to reap ma,imum benefits- %t also
pro(ides you with enhanced 2ife o(er-
Reliance "oney *uarantee Plan
To reap the benefits of a rising mar+et and to protect yourself from any mar+et
decline) in(est in the unit lin+ed Reliance !oney #uarantee plan that gi(es you
the perfect balance between &rotection and $a(ings-
/B
!hild Plans
Being a parent is one of the 1oys of life- Cour child loo+s up to you and depends on you
for lo(e) protection and support- Cou want to pro(ide your child with the best in life-
The Reliance hild &lan helps you sa(e systematically so that you can secure your child4s
future needs- Be it higher education) his or her first home or any other requirement) you
will always be there for your child when he or she needs you-
$o) in(est in a Reliance hild &lan right awayJit is the best gift you could e(er gi(e
your child-
Reliance Super In5est Assure Plan
Reliance $uper %n(est Assure is a complete plan which addresses your (ital needs
li+e Ele,ibility) $ecurity) %n(estment Return and Einancial &lanning- Gith all its
+ey benefits) it is here to ensure that there will always be more than you can as+
for-
Reliance !hild Plan
$a(e systematically and secure the financial future of your child by in(esting in
the Reliance hild &lan and let your child en1oy today without worrying about
tomorrow-
Reliance Secure !hild Plan
Reliance 2ife %nsurance presents a unit lin+ed insurance plan that secures your
child4s financial future) lea(ing you free from worry
Reliance ?ealth F 6ealth Plan
%n(est in the Reliance Gealth :ealth &lan and balance your health needs and
wealth needs) without compromising on either health or wealth-
/D
PROB8%"S O9 T6% OR*A7ICATIO7
Reliance 2ife %nsurance is about the futureJthe secure and comfortable future
one would li+e to pro(ide for himself and his lo(ed ones- Ghen a person plan for
that future) he starts with his goals) identifying the things he had li+e to be able to
afford) what they4ll cost and when he will need the money to pay for them- The
ne,t step is creating a strategy for accomplishing those goals- :e will disco(er
that sa(ing and in(esting are essential to Reliance 2ife %nsurance Jand that if he
wishes) he can find someone with professional e,perience to help him decide how
to ma+e the most of the money he already has- Another part of planning is writing
a will or perhaps creating a trust that lets a person create a legacy by sharing the
assets he has accumulated with the people or organi3ations he had want-
$ome people +now e,actly what their financial goals are- And some do not- =r
maybe they are spending all their energy managing their current financial
situation- %f that4s the case) it may ta+e a special effort to concentrate on what one
thin+s is important for the future- But one will find it4s worth the time to consider
the ne,t 8) .@ and 5@ years of his life to anticipate where he had li+e to be when
that time arri(es- There are some goals that most people share< staying out of debt)
owning a home) and ha(ing a secure retirement- =thers may be more specific to
paying for children4s college tuition or starting one4s own small business- There
are no right answers about what the goals should beJwith the possible e,ception
that most people ha(e to be concerned about affording a financially secure
retirement- That4s why each person4s plan is unique-
%n industriali3ed countries) the 1ourney through life tend to go through stages- The
stage we find our self in will ha(e an impact on our Reliance 2ife %nsurance-
/>
!O"P%TITIO7 I79OR"ATIO7
9ollowing are the completers in the insurance mar:et in India)
1- Ba1a Allian3 2ife %nsurance ompany 2td-)
.- A(i(a 2ife %nsurance o- %ndia &(t- 2td-)
/- A!& $A0!AR Assurance ompany 2td-)
5- Birla $un 2ife %nsurance ompany 2td-)
8- :*E $tandard 2ife %nsurance ompany 2td-)
B- %%% &rudential 2ife %nsurance ompany 2td-)
D- %0# Pysya 2ife %nsurance ompany &ri(ate 2td-)
>- !a, 0ew Cor+ 2ife %nsurance o- 2td-)
?- !et2ife %ndia %nsurance ompany &(t- 2td-)
1@- =m Mota+ !ahindra 2ife %nsurance o- 2td-)
11- $B% 2ife %nsurance ompany 2td-)
1.- $ahara %ndia %nsurance ompany 2td-)
1/- Tata A%# 2ife %nsurance ompany 2td-)
15- Euture #enerali %ndia 2ife %nsurance ompany 2imited
18- %*B% Eortis 2ife %nsurance ompany 2td-
1B- A!& $anmar 2ife %nsurance ompany 2imited-
1D- $hriram 2ife %nsurance ompany 2td-
1>- MingEisher 2ife %nsurance ompany 2td-
/?
!6APT%R 3E
R%S%AR!6 "%T6O&O8O*=
P$RPOS% O9 T6% ST$&=
5@
Research methodology deals with the ob1ecti(e of a research study) the
method of defining the research problem) the type of hypothesis
formulated the type of data collected ) methods used for collecting and analy3ing
the data etc- !ethodology includes the collection of primary data and secondary data-
Research methodology may be defined as the procedure by which researchers
goal bout t hei r wor + of des cr i bi ng) e,pl ai ni ng and pr edi ct i ng
phenomena- % t deal s wi t h t he cogni t i (e pr oces s es i mpos ed i n
r es ear ch by t he pr obl ems ar i s i ng f r om t he nat ur e of i t s sub1ect matter-
Research !ethodology is the description) e,planation and 1ustification
of (arious methods of conducting research
Research is defined as a careful) critical inquiry or e,amination in
see+ingfact s or pri nci pl esR di l i gent i n(est i gat i on i n order t o ascert ai n so
met hi ng- Research i s essentially a systematic enquiry see+ing facts through
ob1ecti(e (erifiable methods in order to disco(er the relationship among them
and to deduce from the board principles or laws- %t is really a method of critical
thin+ing
OB+%!TI4% O9 T6% ST$&=
1- Helps Managers Helps to know more about the organiation!
.- Helps them to know what r the problems in the organiation!
/- "he study tells them what are the strengths# weaknesses# opportunities and
threats in the organiation!
5- "he study tells them that what will be the possible solutions for the problem!
8- It gives them new e$perience in this industry!
B- It gives them new ideas to manage the organiation!To study the present
consumer buying beha(ior towards insurance policies process in the organi3ation at
(arious le(els)
D- To find the awareness le(el of employees (is7W7(is consumer buying beha(ior
towards insurance policy and To compare the company4s consumer buying beha(ior
towards insurance policy with the best :R practices in consumer buying beha(ior
process-
>- The ob1ecti(e of the pro1ect is to +now about the consumer preferences towards the
insurance and also aware the consumer about the reliance life insurance co-
51
? %nsurance should e,ist e(erywhere and should be a(ailable to anyone one who want
its protection and who wants his/her life secured) whene(er) where(er on this planet
R%S%AR!6 "%T6O&O8O*=
"%A7I7* O9 R%S%AR!6' 3
Research is an art of scientific in(estigation) Research means a careful in(estigation or
inquiry specially through search for new facts in any branch of +nowledge-
Research comprises defining and redefining problems) formulating) hypothesis or
suggested solutions) collecting) organi3ing and e(aluating data) ma+ing deductions and
reaching conclusions and at last carefully testing the conclusions to determine whether
they fit the formulating hypothesis
Research means the systematic method consisting of enunciating the
problem) formulating a hypothesis) collecting the facts or data) analy3ing the facts and
reaching certain conclusions either in form of solutions towards the concerned problem or
in certain generali3ation for some theoretical formulation-
The pro1ect titled) as An Analysis of consumer perception towards plan of Reliance
life insurance required research to be done- The mar+et credibility required the
collection of &rimary *ata as well as the $econdary data- The credibility literally means
the mar+et (alue and the mar+et positioning of a particular brand or a company among its
competitors-
R;2%A0; 2%E; %0$'RA0; is one of the pri(ate life insurance companies) which
came into e,istence in .@@1- !ar+et credibility can be chec+ed by seeing the awareness
of people about a particular company and its share in the mar+et- omparing the products
of term policies as well as the endowment policies-
R%S%AR!6 &%SI*7
5.
%n order to ma+e this pro1ect effecti(e and to show the real picture of the status and the
reach of those life insurance companies) % ha(e underta+en the following steps< 7
1- % first searched the premium payment options of Reliance 2ife %nsurance and then
understood them through their website-
.- Then % collected and chose the names of ? of the most satisfactory life insurance
companies
/- After that % searched for the modes for collecting the information regarding the
premium payment channels of other insurance companies li+e through logging on
to their websites) through phone enquiry or by (isiting their branch office-
5- % opted all of the three modes for the completion of this pro1ect-
8- Then % started off one by one with all the selected life insurance companies-
B- % also collected information regarding the untouched places or the places where
Reliance 2ife %nsruance has its branch offices yet-
D- Also % swapped all those premium payment options that Reliance 2ife %nsurance
offer but which are a(ailable with other life insurance companies and elaborated
them-
>- At last after collecting all the essential data) % omitted the incomplete /
unnecessary data and then made a comparison between Reliance 2ife %nsurance
ompany- And all the other chosen life insurance companies along with it
elaborating about the ? companies-
To pro(ide ongoing financial ad(ise for his/her clients<
o %dentifying future clients
o !a+ing appointments
o onduct financial re(iew meetings with clients/prospects
o lose sale
5/
o #et referrals
o &ro(ide ser(ice to clients
T=P%S O9 R%S%AR!6
0) &%s!RIPTI4% R%S%AR!6' 3
%t includes sur(eys and fact7finding enquiries of different +inds- The main purpose
of descripti(e research is description of the state of affairs) as it e,ists at present-
/) A7A8=TI!A8 R%S%AR!6' 3
Analytical research has to use facts or information already a(ailable and analy3e
these to ma+e a critical e(aluation of the material-
E) APP8I%& R%S%AR!6' 3
Applied research aims at finding solution for an immediate problem facing a
society or an industrial/business organi3ation
The certain aim of applied research is to disco(er a solution for some pressing
practical problem-
-) 9$7&A"%7TA8 R%S%AR!6' 3
%t is mainly concerned with generali3ation and with the formulation of a theory-
Basic research is directed towards finding information that
has abroad base of application and adds to the already e,isting organi3ed body of
scientific +nowledge-
1) G$A7TITATI4% R%S%AR!6' 3
%t is based on the measurement of quantity or amount- %t is application
to phenomena that can be e,pressed in terms of quantity
That can be e,pressed in terms of quantity-
55
B- G$A8ITATI4% R%S%AR!6' 7
%t is concerned with qualitati(e phenomenon that is phenomenon
relating to or in(ol(ing quality or +ind-
D- !O7!%PT$A8 R%S%AR!6' 7
onceptual research is that related to some abstract ideas or theory-
&hilosophers and thin+ers to de(elop new concept or to reinterpret e,isting once
generally use it-
Sampling method
on(eni ent s ampl i ng was us ed t o col l ect dat a f r om t he s ampl e- A
s ampl e) as t he name implies) is a smaller representation of a large as whole-
%n other words a selection of t he popul at i on s el ect ed f r om t he l at t er i n
s uch a way t hat t hey r ar e r epr es ent at i (e of t he uni(erse is called sample
!ethod-
A single member of a population is referred to as population element- Ghen
some of the elements are selected with the intention of finding out something about the
population from which they are ta+en) that group of elements is referred as a
sample and the process of selection is called sampling-
Sample siHe'
The sample consisted of B/ respondents in (arious parts of *elhi
Population'
&opulation refers to the total of items about which information is deri(ed-
&opulation of the study consisted of peoples in (arious parts of Gest delhi R
the researcher met the (arious peoples as per the reference gi(en by the organi3ation
Sampling unit'
Gho is to be sur(eyedT The mar+eting researcher must define the target population
that will be sampled-
The sample 'nit ta+en by meR #eneral public of different age group) different
gender and different profession
58
Area of the study'
Ghere the sur(ey should be carried outT
% ha(e co(ered entire residential area of *elhi city for the sur(ey
Time period of study'
Ghen the sur(ey should be conductedT
% conducted my sur(ey for B wee+s from 18 Nune .@1. to /1 1uly .@1.
METHODS OF D ATA !O88%!TIO7
Primary &ata'3
%t is collected directly from people and organi3ation (ia questionnaires or sur(eys before
being analy3ed to reach conclusions concerning the issues co(ered in the questionnaire or
sur(ey-
4arious Sources
Q';$T%=00A%R;
&R=*'T &A!&:2;T
&;R$=0A2 =B$;RPAT%=0
Secondary &ata'3
$econdary data 7 collected by are others to be Hre7usedH by the researcher-
4arious Sources
0;G$&A&;R$
%0T;R0;T
&R=$&;T='$
5B
:ow to $earch 6 'se $econdary $ourcesT
o *ocuments 7 Bibliographic $+ills) 'se of Meywords) Boolean
=perators
o &ublished $tatistics
#uide to =fficial $tatistics
*igests 6 Abstracts
&rimary &ublication
8I"ITATIO7
1- The sample si3e was (ery small-
.- There is bias on the part of the respondents-
/- There is lac+ of information as e(eryone is not ready to share their
personal matters with e(erybody- $ome people resist the answers-
5 - %t is impossible to cater e(ery class of the society

5D
!6APT%R3-
&ATA A7A8=SIS A7& I7T%RPR%TATIO7
5>
&ATA A7A8=SIS
G0) &o you thin: in5estment planning is important for your healthI

Ces 0o
$er(ice class >@K .@K
Business class 1.K >>K
I7T%RPR%TATIO7
After analy3ing the data it was found that >@K of the ser(ice class 1ust 1.K of business
class were interested in going for in(estment planning-
$er(ice class had to sa(e their ta, and simultaneously they reali3e the need of in(estment
of future-
Business class had an attitude of thin+ing about the things when incidents will be on
head-
5?
G/) ?hat is the pattern of in5estmentI
property shares insurance
fi,ed
deposit others
$ocial lass .K /K B.K 8K .>K
Business class 88K 58K 8K /K 1.K
I7T%RPR%TATIO7
After analy3ing the data) it was found that) 1ust .K of social class has in(ested in property) /K in
shares) B.K in insurance) 8K in fi,ed deposit) .>K in others-
%n business class) 88K in(ested in property) 58K in shares) 8K insurance) /K in fi,ed deposit) and
1.Kin others-
8@
GE) ?hat is the insurance o(jecti5eI
short7term ob1ecti(e
long7term
ob1ecti(e
retirement
ob1ecti(e
children sa(ings
ob1ecti(e
ser(ice
class 58K 8K .8K .8K
business
class >8K 8K 8K 8K
I7T%RPR%TATIO7
After analy3ing the data it was found that 58K of ser(ice class wanted to go for short7term ob1ecti(e)
8K for long7term ob1ecti(e) .8K for retirement7ob1ecti(e) and .8K for children sa(ing ob1ecti(e-
%n business class) >8K wanted to go for short7term ob1ecti(e) 1ust 8K for long7term ob1ecti(e)
retirement ob1ecti(e and children sa(ing ob1ecti(e-
81
G-) ?hich industry do you prefer to in5est the mostI
insurance ban+ shares others
ser(ice
class B.K .@K /K 18K
business
class 8K /K 58K 5DK
I7T%RPR%TATIO7
After analy3ing the data it was found that in social class) B.K people want to in(est for insurance)
.@K for ban+) /K for shares) and 1ust 18K for other things-
%n business class) 8K for insurance) /K for ban+) 58K for shares) and 5DK for others
8.
G1) 6a5e you done life insurance planningI
yes no
ser(ice
class D8K .8K
business
class 18K >8K
I7T%RPR%TATIO7
After analy3ing the data it was found that) in social class) B8K ha(e done life insurance planning)
and .8K ha(e not done it-
%n business class) 18 ha(e done life insurance planning and D8K ha(en4t done-
8/
QB- ?hat is the insurance co5er you possessI
1 la+h 8 la+h 1@ la+h 1 crore
ser(ice
class B8K .@K 18K 7
business
class D8K 18K .@K 7
I7T%RPR%TATIO7
After analy3ing the data) it was found that) B8K of social class possess in 1 lac+ plan) .@K in 8 lac+
plan) and 18K in 1@ lac+ plan-
%n business class) D8K possess in 1 lac+ plan) 18K in 8 lac+ plan) and.@K in 1@ lac+ plan-
85
GJ) According to you what are the (asis you ta:ing life insuranceI
long premium larger ris+ co(er
reputation of the
company
money bac+
guarantee
ser(ice class .8K .8K .8K
business class 88K /8K 8K 8K
I7T%RPR%TATIO7
After analy3ing the data) it was found that) .8K of social class wants to in(est for high premium)
larger ris+ co(er) reputation of the country) money bac+ guarantee- %n business class) 88K) and /8K
want to go for high premium and larger ris+ co(er and only 8K want to for money bac+ guarantee
plan-
88
G.) According to you in which company you will do insurance or
in5estmentI
2% R;2%A0; %%% =T:;R$
ser(ice class 1?K /@K 58K BK
business
class 58K 15K /8K BK
I7T%RPR%TATIO7
After analy3ing the data) it was found that) in social class) 1?K want to go for 2%) /@K in
R;2%A0;) 58K in %%%) and ?K in others-
%n social class) 58K) 15K) /8K) and BK want to in(est in 2%) R;2%A0;) %%%) =T:;R$)
respecti(ely-
8B
G2) 6ow do you rate your in5estment profileI
conser(ati(e aggressi(e secured balanced
ser(ice class 8K 88K 8K /8K
business
class 7 >@K 7 .@K
I7T%RPR%TATIO7
After analy3ing the data) it was found that) in social class) 8K want to in(est conser(ati(e and
secured fund) 88K want to in(est in aggressi(e fund) and /8K in the balance fund-
%n business class) >@K of the population wants to go for aggressi(e fund) and .@K of population
wants to go for the balance fund-
8D
G0,) 6ow ha5e you planned to arrange the fund in case of emergencyI
critical
illness accident
pre7matured
death
sa(ing
from
ban+
life medical
insurance
Relati(es /
friends others
social class .@K .@K .@K .@K .@K 7 7
business class 7 7 7 7 7 8K ?8K
After analy3ing the data) it was found that in social class) .@K ha(e arranged for critical illness)
accident) pre7matured death) sa(ings from ban+) and for life medical insurance-
%n business class) 8K want to in(est in relati(e/friends plan and ?8K for others-
8>
!6APT%R31
9I7&I7*S @ R%!O""%7&ATIO7
8?
9I7&I7*S
As a p a r t o f t h e d a t a c o l l e c t i o n f o r t h e wo r + An Analysis of consumer
perception towards Reliance life insurance
Researcher had approached B/ people from (arious parts of *elhi i ncl udi ng
&i t ampur a ) ut t am nagar ) 1 ana+pur i ) +ar ol bagh- -
A s t r uct ur edq u e s t i o n n a i r e i s u s e d f o r d a t a c o l l e c t i o n - Ba s e d o n d a t a c
o l l e c t i o n ) d a t a a n a l y s i s a n d interpretation is done and the following findings are to be
made-
!a1ority of people were in the opinion that ha(e !oney planning-
!ost of the people prefer $a(ings as an important type of money planning andmany of
the ma+es a portfolio of sa(ings) Ei,ed *eposits) &&E-
&eople who ha(e money plan for their retirement is less because they hire loans from
Einancial %nstitutions with less paper wor+s and after that life is mo(ing on cr edi t -
Thos e who ha(e money pl an f or r et i r ement pr ef er i n(es t ment i n &os t office)
&&E) $a(ing s because they are the traditional method that are followed and they are
owned by go(ernment-
&eople arrange cash from Relati(es and Eriends in case of ;mergencies) illness and
accidents and some of them ta+e medical insurance and some of them go for loans and it
can be reimbursed-
!a1ority of people suggest that it is (ery important to ha(e an education fund for their children-
% t i s i mp o r t a n t t o h a ( e a ma r r i a g e f u n d f o r t h e i r c h i l d r e n b u t i t i s
n o t ( e r y important because of the changing social system
!a1ority of the people are aware about the insurance and insurance products-
!a1ority suggest that %nsurance is needed for the family in case of retirement life) illness) ;ducation
and for meeting the uncertainties in future-
;(e n t hough t her e ar e l ar ge number of % ns ur anc e compani es and % ns ur ance &ro
ducts many people are not aware about the benefits and (arious schemes
$ o me o f t h e p e o p l e t h a t % s u r ( e y e d a r e i n t e r e s t e d i n Mn o wi n g ( a r i o u s
n e w schemes and benefits of insurance-
B@
S$**%STIO7S
%nsurance companies must try to each the customers through tangible clues and ma+e
them aware about the scheme and benefits- The degree of customer contact and seller interface plays
a significant role in insurance mar+eting-
The scope for e,pansion is still unlimited for all the insurance players because they are
concentrating on large cities and town Ae,pect by 2% to an e,tent there was no significant attempt
to tap the rural mar+ets-
Geb7based Relat ionship !ar+eting in collection of premium and distribution of the
amount to reduce the time lag and e7mails and a(ailability for understanding the current
position of the customer about their %nsurance
Ei, ser(ice standards for the agents and bro+ers and ma+e a decent apology incase of
ser(ice failure-
T h e c o mp a n i e s mu s t c o n c e n t r a t e o n Pi s i o n ) Pal u e s 6 u l t u r e ) $ t r a t e g i
e s 6#oal s ) s t r uct ur e 6 Rol es ) Mey &er f or mance % ndi cat or s ( M&% " At hat
ent ai l s multiple learning) Rapid %mpro(ement $trategy7;nables initiate change) when
required-
The ad(antage of %nsurance benefits is high for the people who started in(esti ngfrom the
early age-
There is an emergence of :yper7competition in %nsurance mar+et) one way toretain
success is to de(elop a holistic Brand Relationship !anagement (BR!"
%ntroduce the concept Octagonal "ar:eting it encompasses all finer aspectof customer
management which can result in greater profits through customer s at i s f act i on-
=ct agonal mar +et i ng gi (es bet t er edge t o compani es i n not
onl yma , i mi 3 i n g c u s t o me r s a t i s f a c t i o n b u t a l s o i n r e t a i n i n g t h e m- % t i
n c l u d e s pro(iding customer a product which is more acceptable to him) Affordable pr
oduct A(ailable at nearest to consumers) Relationship through product6ser(ice
Ther e has been a pl et hor a of new and i nno(at i (e pr oduct s of f er ed by t he
new players) ustomers ha(e tremendous choice including pure term (ris+" insurance
to unit7lin+ed in(estment products with a (ariety of benefits as riders from which t hey can
choos e- !or e cus t omer s ar e buyi ng pr oduct s and s er (i ces bas ed on their true
needs traditional money7term protection and sa(ing new products- $o there are still some
+ey new products yet to be introduced Ae-g- :ealth products9
B1


!6APT%R 3K

!O7!8$SIO7S
!O7!8$SIO7
B.
%nsurance is a social de(ice in which a group of indi(iduals (insured" transfer the ris+ to another
party (insurer" in order to combine the loss e,perience) which permits statistical prediction of the
losses and pro(ides from payment of losses from the funds contributed (premiums" by all the
members who transferred ris+-
Reliance 2ife %nsurance o- 2td- is a (ery upcoming insurance company- This company is e,panding
its customer base at a (ery high speed and also with satisfaction of the customers- Reliance 2ife4s
customers are happy and this company does not force the customer to ta+e up the policy but it steps
into the shoes of the clients and help them in each and e(ery possible way-
% would li+e to conclude both the positi(e as well as the negati(e aspects of this study<7
Positi5e Aspect is as follows'
R;2%A0; 2ife %0$'RA0; =!&A0C is at the ape, as it pro(ides the ma,imum number of
premium payment options to its customers and has maintained the healthiest customer satisfaction
le(el in comparison of other life insurance companies- Also) it stands at fourth position for ha(ing
1@8 branch offices all o(er %ndia- $ome life insurance companies qualifies with R;2%A0; 2ife for
pro(iding online premium payment ser(ice) they are %%% &R'*;0T%A2 2%E;) =! M=TAM
!A:%0*RA 2%E;) BANAN A22%A0O 2%E;) 2% =E %0*%A and %0# PC$CA- Also) this co- is at
the rapid increasing rate in terms of number of applications qualified-
7egati5e Aspect is as follows'
B/
%n comparison of all these life insurance companies) BANAN A22%A0O 2%E; %0$'RA0;
=!&A0C stands 1
st
for ha(ing the most number of branch offices all o(er %ndia(8/8 branches"-
Also) R;2%A0; 2ife doesn4t pro(ide (arious premium payment options li+e AT!) M%=$M$)
='R%;R$/&=$TA#; 6 $TA0*%0#%0$TR'T%=0$ !A0*AT; as offered by other insurance
companies- The area of operations of R;2%A0; 2ife is limited) it ha(e to enlarge its networ+ as it
ha(e not reached most of the rural areas where there is a desperate need of pro(iding insurance
policies- Also) the company do not do mass ad(ertisement) li+e other insurance companies do) which
is the most basic technique of sales promotion-
R%!O""%7&ATIO7
Better organi3ational culture should be established by recruiting qualified managers-
There should be professional attitude amongst agent and ad(isors as well-
!ore and more branches should be opened-
Ad(ertisements should be on mass basis

B5



BIB8IO*RAP6=
BIB8IO*RAP6=
B8
Boo:s'
1- %nsurance and Ris+ !anagement
7*r- &rem Mrishan #upta
.- Ris+ !anagement and insurance
7:arrington
/- Research !ethodology
7 $under hand Mothari
?e(sites'
www-reliancelife-co-in
www-reliancegeneral-com
www-reliancecapital-com
www-reliancemutualfunds-com
www-iciciprulife-com
www-google-com
www-ba1a1allian3e-com
www-yahoo-com
BB
A77%A$R%S

G$%STIO77AIR%
BD
G0) &o you thin: in5estment planning is important for your healthI
Ces
0o
G/- ?hat is the pattern of in5estmentI
&roperty
$hares
%nsurance
Ei,ed deposit
=thers
GE) ?hat is the insurance o(jecti5eI
$hort7term ob1ecti(e
2ong7term ob1ecti(e
Retirement ob1ecti(e
hild ob1ecti(e
G-) ?hich industry do you prefer to in5est the mostI
%nsurance
Ban+
$hares
=thers
G1) 6a5e you done life insurance planningI
B>
Ces
0o
GK) ?hat is the insurance co5er you possessI
Rs-1) @@)@@@
Rs-8)@@)@@@
Rs-1@)@@)@@@
Rs-1)@@)@@)@@@
GJ) According to you what are the (asis you ta:ing life insuranceI
2ong premium
2arger ris+ co(er
Reputation of the company
!oney bac+ guarantee
G.) According to you in which company you will do insurance or in5estmentI
2%
Reliance
%%%
=thers
G2) 6ow do you rate your in5estment profileI
onser(ati(e
Aggressi(e
$ecured
Balanced

B?
G0,) 6a5e you planned to arrange the fund in case of emergencyI
ritical illness
Accident
&re7matured death in your family
$a(ing from the ban+
2ife medical insurance
Relati(es/friends
=thers
D@