A

Training project report

On
A study on investor behaviour regarding insurance
with special reference HDFC Standard ife
!nsurance "
Submitted in partial fulfillment for the
Award of degree of
Master of Business Administration
(Affiliated to Rajasthan Technical University, Kota)
2009-2011
Submitted By: Submitted to:
Puneet Kumar Tiwari Miss. Richa Jain
MBA (Semester-III Asst. Pro!.
"KIMR (K"TA "KIMR (K"TA
"M K"T#ARI I$SIT%T& "' MA$A(&M&$T ) R&S&AR*#+
K"TA


"M K"T#ARI I$STIT%T& "' MA$A(&M&$T )
R&S&AR*#
(A!!i,iated to Ra-asthan Technica, %ni.ersity+ Kota+ A//ro.ed by A,,-India
*ounci, !or Technica, &ducation-(o.ernment o! India and S/onsored by
"m Kothari 'oundation+ Kota
I$T&R$A0 (%I1& *&RTI'I*AT&
This is to certify that #uneet $u%ar Tiwari student of &'A ! (ear at "m Kothari
Institute o! Mana2ement and Research has co%pleted Su%%er Training )eport
entitled*
A study on investor behaviour regarding insurance with special
reference HDFC Standard Life insurance "
The training has been co%pleted after studying for one year in &'A course and for
partially fulfilling the re+uire%ents for award of degree of &aster of 'usiness
Ad%inistration of Ra-asthan Technica, %ni.ersity+ Kota.
The Training )eport has been co%pleted under the guidance of 3Miss. Richa Jain 4
Asst. Pro!. of O$!&) and is as per nor%s and guidelines provided*
Pro!. Mu5esh Jain Miss. Richa Jain
Princi/a, Academic (uide

Kota
1ate:
A-6+ S/ecia, I.P.I.A. Jha,awar Road+ Kota-789::;

(: :<99-89=:><>+ 89=:9:8+ &-mai,: o5imr?redi!!mai,.com 'a@: :<99-
897>:A=


"M K"T#ARI I$STIT%T& "' MA$A(&M&$T )
R&S&AR*#
(A!!i,iated to Ra-asthan Technica, %ni.ersity+ Kota+ A//ro.ed by A,,-India *ounci,
!or Technica, &ducation-(o.ernment o! India and S/onsored by "m Kothari
'oundation+ Kota
&BT&R$A0 &BAMI$&R *&RTI'I*AT&
This is to certified that Mr. Puneet Kumar Tiwari student of &'A ! (ear ,-../0-.112 at
"m Kothari Institute o! Mana2ement and Research has co%pleted Su%%er Training
)eport entitled*
A study on investor behaviour regarding insurance with special
reference HDFC Standard Life Insurance "
The training has been co%pleted after studying for one year in &'A course and for
partially fulfilling the re+uire%ents for award of degree of &aster of 'usiness
Ad%inistration of Ra-asthan Technica, %ni.ersity+ Kota.
The Training )eport has been evaluated and viva voice conducted by the undersigned
panel of e3a%iners* The project has been found satisfactory and is reco%%ended for
acceptance*
Pro!. Pro!.
Interna, &@aminer &@terna, &@aminer
Kota
1ate:
A-6+ S/ecia, I.P.I.A. Jha,awar Road+ Kota-789::;
Ph.: :<99-89=:><>+ 89=:98:+ &-mai,: o5imr?redi!!mai,.com
'a@: :<99-897>:A= Cebsite: www.o5edu.in

PR&'A*&
4hen you don5t 6now where to go7 the% any road can lead you there7 but we the
%anage%ent students are here to learn and 6now how %anage%ent theories and
practice wor6*
As a part of acade%ic syllabus of two0year degree course of %aster degree in business
ad%inistration every student is re+uired to sub%it a study project report*
The objective of this project is to study policyholder5s e3pectation and preference
towards selected private life insurance co%panies is $ota city*
To attain this objective7 ! first approached to various insurance co%panies and insurance
holders of $ota city* Here ! co%e to 6now the level of awareness a%ong general public
about insurance services and facilities e3pected fro% private insurance co%panies*
!n the first part of su%%er Training project report ! have covered Co%pany profile7
#roject profile 8 second part covered Objectives of the study7 8 )esearch
&ethodology 8 the third part covered Data analysis7 Fact 8 finding and after the
last part of Suggestion7 Conclusion 8 Anne3ure*

Ac5now,ed2ement
! e3press %y sincere than6s to %y project guide7 &iss* )icha 9ain7 Designation Asst*
#rof* Depart%ent Of O& $OTHA)! !:ST* OF &A:A* 8 );S;A)CH $OTA7 for guiding
%e right for%s the inception till the successful co%pletion of the project* ! sincerely
ac6nowledge her for e3tending their valuable guidance7 support for literature7 critical
reviews of project and the report and above all the %oral support he had provided to %e
with all stages of this project
! would also li6e to than6 the supporting staff for their help and cooperation throughout
%y project*
(Signature of Student)
#uneet $u%ar Tiwari

&B&*%TID& S%MMARE
!n today5s corporate and co%petitive world7 ! find that insurance sector has the
%a3i%u% growth and potential as co%pared to the other sectors* !nsurance has the
%a3i%u% growth rate of <.0=.> while as F&C? sector has %a3i%u% 1-01@> of
growth rate* This growth potential attracts %e to enter in this sector and 1i!!erent 0i!e
Insurance *om/any has given %e the opportunity to wor6 and get e3perience in highly
co%petitive and enhancing sector*
The success story of good %ar6et share of different %ar6et organiAations
depends upon the availability of the product and services near to the custo%er7
which can be distributed through a distribution channel* !n !nsurance sector7
distribution channel includes only agents or agency holders of the co%pany* !f
co%panies li6e );!A:C; !F; !:SB)A:C;7 !:? C(S(A7 HDFC STA:DA)D7
!C!C! #)B7 etc have ade+uate agents in the %ar6et they can capture big %ar6et
as co%pared to the other co%panies*
Agents are the only way for a co%pany of !nsurance sector through which
#olicies and benefits of the co%pany can be e3plained to the custo%er

ABSTRA*T
!nsurance co%panies stressed that the %ar6eting perfor%ance of the insurance
co%panies has increased over last few years*
Challenges of co%petition and future scenario concludes that the li%ited availability of
data on policy holders 7 the low awareness a%ong policy holders 7 the inade+uate
infrastructure and technology are the %ajor proble% of the insurance industry in
%arauding its products*
$ey to growth and develop%ent stressed that %ulti0product7 %ulti0channel and %ulti0
seg%ent routes %ight help the insurance industry to i%prove the penetrating level in the
do%estic %ar6eting*
;3ploiting an opportunity with partnership concludes that ban6s are the potential
partners in distributing the insurance products in the %ar6et*
&anaging the agents pointed out that only +uality agents can sell insurance products in
the %ar6et*
The establish%ent of %icro0branches and the appoint%ent of specialiAed insurance
agent in rural area helps police holders to %ar6et different insurance product *
The post sales service helps capturing %ore custo%ers*
!nsurance organiAation being %ore service oriented7 need %ore custo%er
responsiveness* !n addition7 it should stand as a %odel in C)& activities* !t is
observation that %ere ac+uiring of technology in the na%e of serving effectively is not
the answer of C)&*
!n today5s credit happy society7 an insurance cover which %itigates the ris6 of repaying
credit if death or disability happens to the debtors is very relevant* 4e will try to 6now
creditor insurance by loo6ing at the feature of the products7 benefit7 the proble% faced
and the relevance of creditor insurance for the !ndian insurance %ar6et*


*"$T&$TS 0IST

! #);FAC;
!! ;D;CBT!C; SB&&A)(
!!! A'ST)ACT
Sr.$o *ha/ter $ame Pa2e. $o.
1 Co%pany #rofile = 0 E-
- #roject #rofile EE 0 FF
E Objective of the study F@ 0 FG
F )esearch &ethodology F< 0 FF
@ Data Analysis F@ H @E
G Facts 8 Findings @F H G.
< Conclusions G1 H GE
= Suggestions GF 0 GG
'ibliography

*#APT&R-6
*"MPA$E PR"'I0&

I$TR"1%*TI"$ T" T#& 1I''&R&$T I$S%RA$*& *"MPA$I&S
*"MPA$E PR"'I0& "' R&0IA$*& 0I'& I$S%RA$*&

)eliance ife !nsurance Co%pany i%ited is a part of )eliance Capital td* of the
)eliance 0 Anil Dhirubhai A%bani ?roup* )eliance Capital is one of !ndia5s leading
private sector financial services co%panies7 and ran6s a%ong the top E private sector
financial services and ban6ing co%panies7 in ter%s of net worth* )eliance Capital has
interests in asset %anage%ent and %utual funds7 stoc6 bro6ing7 life and general
insurance7 proprietary invest%ents7 private e+uity and other activities in financial
services*
)eliance Capital i%ited ,)C2 is a :on0'an6ing Financial Co%pany ,:'FC2
registered with the )eserve 'an6 of !ndia under section F@0!A of the )eserve 'an6
of !ndia Act7 1/EF*
)eliance Capital sees i%%ense potential in the rapidly growing financial services
sector in !ndia and ai%s to beco%e a do%inant player in this industry and offer fully
integrated financial services*
)eliance ife !nsurance is another step forward for )eliance Capital i%ited to offer
need based ife !nsurance solutions to individuals and Corporate*

*"RP"RAT& "BJ&*TID&
At )eliance ife !nsurance7 we strongly believe that as life is different at every stage7 life
insurance %ust offer fle3ibility and choice to go with that stage* 4e are fully prepared
and co%%itted to guide you on insurance products and services through our well0
trained advisors7 bac6ed by co%petent %ar6eting and custo%er services7 in the best
possible way*
!t is our ai% to beco%e one of the top private life insurance co%panies in !ndia
and to beco%e a cornerstone of )! integrated financial services business in
!ndia*
*"RP"RAT& MISSI"$
To set the standard in helping our custo%ers %anage their financial future"*
B&0"C AR& '&C "' T#& P0A$S T#AT AR& "''&R&1 BE R&0IA$*& 0I'&
I$S%RA$*&
I$S%RA$*& P0A$S ADAI0AB0&
1* #roducts ,!ndividual #lans2
Savings ,;ndow%ent2
-* )eliance ;ndow%ent #lan
,for%erly Divya Shree2
E* )eliance Special ;ndow%ent #lan
,for%erly Subha Shree2
F* )eliance Child #lan
,for%erly (uva Shree2

@* )eliance 4hole ife #lan
,for%erly :ithya Shree2
Pensions
G* )eliance ?olden (ears #lan
,for%erly 'hagya Shree2
In.estments
<* )eliance &ar6et )eturn #lan
,for%erly $ana6a Shree2
=* )is6 I #rotection
/* )eliance Ter% #lan
,for%erly )a6sha Shree2
Products ((rou/ F *or/orate P,ans
1.* )is6 ,#rotection2
)eliance ?roup Ter% Assurance #olicy
,for%erly ?roup Ter% Assurance #olicy2
Re,iance &10I Scheme
,for%erly ;D! Sche%e2
11* #ensions
a* )eliance ?roup ?ratuity #olicy
,for%erly ?roup ?ratuity #olicy2
b* )eliance ?roup Superannuation #olicy
,for%erly ?roup Superannuation #olicy2

I$1%STRIA0 PR"'I0& "' I$( ESESA 0I'& I$S%RA$*&

!:? ife !nsurance is a part of the !:? group0 a Fortune 1E co%pany7 the worldJs largest
Financial Services Co%pany and the largest life insurance Co%pany0 with net profits in
e3cess of K/ billion* !:? has over 1@. years of heritage and %ore than 11.7...
e%ployees worldwide7 is rated a%ongst the top ten e%ployers in ;urope7 and %anages
the financial future of over G. %illion custo%ers in @. countries
4ith an annual growth rate of 1@0-.> and the largest nu%ber of life insurance policies
in force7 the potential of the !ndian insurance industry is huge* Total value of the !ndian
insurance %ar6et ,-..F0.@2 is esti%ated at )s* F@. billion ,BSK1. billion2* According to
govern%ent sources7 the insurance and ban6ing services5 contribution to the countryJs
gross do%estic product ,?D#2 is <> out of which the gross pre%iu% collection for%s a
significant part* The funds available with the state0owned ife !nsurance Corporation
,!C2 for invest%ents are => of ?D#*
Till date7 only -.> of the total insurable population of !ndia is covered under various life
insurance sche%es7 the penetration rates of health and other non0life insurances in
!ndia is also well below the international level* These facts indicate the of i%%ense
growth potential of the insurance sector*
The year 1/// saw a revolution in the !ndian insurance sector7 as %ajor structural
changes too6 place with the ending of govern%ent %onopoly and the passage of the
!nsurance )egulatory and Develop%ent Authority ,!)DA2 'ill7 lifting all entry restrictions
for private players and allowing foreign players to enter the %ar6et with so%e li%its on
direct foreign ownership**

I$( Dysya 0I'& I$S%RA$*&
!:? Cysya is a joint venture between !:? ?roup a global financial institution of Dutch
origin and Cysya 'an67 one of !ndiaJs leading private sector ban6s7 to for% !:? Cysya
ife !nsurance*
I$( Dysya 0i!e Insurance in India
!:? Cysya ife !nsurance Co%pany i%ited ,the Co%pany2 entered the private*!:?
Cysya ife insurance industry in !ndia in Septe%ber -..1* The Co%pany ai%s to %a6e
Custo%ers loo6 at life insurance afresh7 not just as a ta3 saving device but as a &ean5s
to add protection to life*!:? !nsurance is the world5s second largest life insurance
co%pany as per latest
Fortune ran6ings with a client base of over @. %illion*The Co%pany has a custo%er
base of over F7 @.7... 8 is head+uartered at 'angalore* !n -..@7 !:? Cysya ife
earned a total inco%e in e3cess of )s* F.. crore and also has a share capital of )s*
FF. crore*
!:? Cysya ife !nsurance Co%pany i%ited established its foothold in the private life
insurance industry in !ndia in Septe%ber -..1* !n a branch networ6 of over 1F.
branches with head office in 'angalore7 !:? Cysya ife !nsurance Co e%ployees
around E... e%ployees with a sales force of over -17... insurance agents and
bro6ers* !:? Cysya ife enjoys a custo%er base of F*@ la6h and a total inco%e of )s*
F..crore*
!:? Cysya ife !nsurance Co td is the result of a joint venture between the worldJs
second largest life insurance co%pany 0 !:? !nsurance and one of the largest private
sector ban6s in !ndia 0 Cysya 'an6* Another sta6eholder in the 9C is ?&) ?roup*

PR"1%*TS
The co%pany has divided its products in four groups
#rotection plan
Saving plan
!nvest%ent plan
)etire%ent plan
Protection
Con+uering ife
Sa.in2 P,anG )eassuring ife ,)eversionary 'onus2 7Creating ife 7Safal9eevan
7Creating ife &oney 'ac6 Safal 9eevan &oney 'ac6 7!:? ife #lus
In.estment: )ewarding ife #owering ife 7 :ew Freedo% #lan7 :ew One ife
#latinu% ife :ew Fulfilling ife 7 High ife High ife #lus
Retirement 'est (ears7 :ew Future #erfect

*"MPA$E PR"'I0& "' #1'* STA$1AR1 0I'&
I$S%RA$*& *"MPA$E
AB"%T #1'* STA$1AR1 0I'& I$S%RA$*&
HDFC Standard ife !nsurance Co%pany td* is one of !ndiaJs leading private
insurance co%panies7 which offers a range of individual and group insurance solutions*
!t is a joint venture between Housing Develop%ent Finance Corporation i%ited ,HDFC
td*27 !ndiaJs leading housing finance institution and a ?roup Co%pany of the Standard
ife7 B$* HDFC as on Dece%ber E17 -..< holds <-*E= per cent of e+uity in the joint
venture*
HDFC STA:DA)D !F; !:SB)A:C; #A);:TA?;
HDFC i%ited*
HDFC is !ndia leading housing finance institution and has helped build
%ore than -E7 ..7... houses since its incorporation in 1/<<*
!n Financial (ear -..E0.F its assets under %anage%ent crossed )s*
EG7... Cr*
As at &arch E17 -..F7 outstanding deposits stood at )s* <7=F. crores* The
depositor base now stands at around 1 %illion depositors*
)ated AAA by C)!S! and !C)A for the 1.th consecutive year
Stable and e3perienced %anage%ent
High service standards
Awarded The ;cono%ic Ti%es Corporate CitiAen of the year Award for its
long0standing co%%it%ent to co%%unity develop%ent*

#resented the Drea% Ho%eL award for the best housing finance provider
in -..F at the third Annual Outloo6 &oney Awards*

Standard ife ?roup ,Standard ife plc and its subsidiaries2
Standard ife ?roup ,Standard ife plc and its subsidiaries2
The Standard ife group has been loo6ing after the financial needs of
custo%ers for over 1=. years
!t currently has a custo%er base of around < %illion people who rely on
the co%pany for their insurance7 pension7 invest%ent7 ban6ing and
health0care needs
!ts invest%ent %anager currently ad%inisters MN1-@ billion in assets
!t is a leading pensions provider in the B$7 and is rated by Standard 8
#oorJs as JstrongJ with a rating of AO and as JgoodJ with a rating of A1 by
&oodyJs
Standard ife was awarded the J'est #ension #roviderJ in -..F7 -..@ and
-..G at the &oney &ar6eting Awards7 and it was voted a @ star life and
pensions provider at the Financial Adviser Service Awards for the last 1.
years running* The J@ StarJ accolade has also been awarded to Standard
ife !nvest%ents for the last 1. years7 and to Standard ife 'an6 since
its inception in 1//=* Standard ife 'an6 was awarded the J'est Fle3ible
&ortgage enderJ at the &ortgage &agaAine Awards in -..G

B&0"C AR& '&C "' T#& P0A$S T#AT AR& "''&R&1 BE #1'*
STA$1AR1S 0I'& I$S%RA$*&
Indi.idua, Products
HDFC Standard ife realiAe that not everyone has the sa%e 6ind of needs* $eeping
this in %ind7 we have a varied range of #roducts that you can choose fro% to suit all
your needs* These will help secure your future as well as the future of your fa%ily*
Protection P,ans

(ou can protect your fa%ily against the loss of your inco%e or the burden of a loan
in the event of your unfortunate de%ise7 disability or sic6ness* These plans offer
valuable peace of %ind at a s%all price*
Our #rotection range includes our Ter% Assurance #lan 8 oan Cover Ter%
Assurance #lan*

In.estment P,ans

Our Single #re%iu% 4hole Of ife plan is well suited to %eet your long ter%
invest%ent needs* 4e provide you with attractive long ter% returns through regular
bonuses*

Pension P,ans

Our #ension #lans help you secure your financial independence even after
retire%ent*
Our #ension range includes our #ersonal #ension #lan7 Bnit in6ed #ension7 Bnit
in6ed #ension #lus

Sa.in2s P,ans

Our Savings #lans offer you fle3ible options to build savings for your future needs
such as buying a drea% ho%e or fulfilling your children i%%ediate and future needs*
Our Savings range includes ;ndow%ent Assurance #lan7 Bnit in6ed ;ndow%ent7
Bnit in6ed ;ndow%ent #lus7 Bnit in6ed ;ndow%ent #lus !!7 &oney 'ac67
Bnit in6ed ;nhanced ife #rotection !!7 ChildrenJs #lan7 Bnit in6ed (oung Star7
Bnit in6ed (oung Star #lus7 Bnit in6ed (oung Star #lus !!*

(rou/ Products
"ne-sto/ sho/ !or em/,oyee-bene!it so,utions
HDFC Standard ife has the %ost co%prehensive list of products for progressive
e%ployers who wish to provide the best and %ost innovative e%ployee benefit solutions
to their e%ployees* 4e offer different products for different needs of e%ployers ranging
fro% ter% insurance plans for pure protection to voluntary plans such as superannuation
and leave encash%ent*
4e now offer the following group products to our estee%ed corporate clientsP
?roup Ter% !nsurance
?roup Cariable Ter% !nsurance
?roup Bnit0in6ed #lan

An invest%ent solution that provides funding vehicle to %anage corpuses with
?ratuity7 Defined 'enefit or Defined Contribution Superannuation or eave
;ncash%ent sche%es of your co%pany
Also suitable for other e%ployee benefit sche%es such as salary saving
sche%es and wealth %anage%ent sche%es
Socia, Product
1e.e,o/ment Insurance P,an
Develop%ent !nsurance plan is an insurance plan which provides life cover to %e%bers
of a Develop%ent Agency for a ter% of one year* On the death of any %e%ber of the
group insured during the year of cover7 a lu%p su% is paid to those %e%ber
beneficiaries to help %eet so%e of the i%%ediate financial needs following their loss*
&,i2ibi,ity

&e%bers of the develop%ent agency and their spouses withP
0 &ini%u% age at the start of the policy 1= years last birthday
0 &a3i%u% age at the start of policy @. years last birthday
;%ployees of the Develop%ent Agency are not eligible to join the group* The group
to be covered is only eligible if it contains %ore than @.. %e%bers*

Premium Payments
The pre%iu% to be paid will be +uoted per %e%ber in the group and will be the sa%e

for all %e%bers of the group*
The pre%iu% can only be paid by the Develop%ent Agency as a single lu%p su% that
includes all pre%iu%s for the group to be covered* Cover will not start until the
pre%iu% and all the %e%ber infor%ation in our specified for%at has been received*
The pre%iu% rate is )s* -@ per )s* 1.7... of lu%p su%7 per %e%ber*
Bene!its
On the death of each %e%ber covered by the policy during the year of cover a lu%p
su% e+ual to the su% assured will be paid to their beneficiaries or legal heirs* 4here
the death is as a result of an accident7 an additional lu%p su% will be paid e+ual to
half the su% assured* There are no benefits paid at the end of the year of cover and
there is no surrender value available at any ti%e*

The ro,e o! the 1e.e,o/ment A2ency
Due to the nature of the groups covered7 HDFC Standard ife will be passing certain
ad%inistrative tas6s onto the Develop%ent Agency* 'y passing on these tas6s the
pre%iu%

Sub%ission of %e%ber data in a specified co%puter for%at
Collection of pre%iu%s fro% group %e%bers
)ecording changes in the details of group %e%bers
Disburse%ent of clai% pay%ents and the %ortality rebate ,if any2 to group
%e%bers
These tas6s would be in addition to the usual duties of a policyholder such asP
#ay%ent of pre%iu%s
)eporting of clai%s
$eeping policy holder infor%ation up to date
Training and support will be available to give guidance on how to co%plete the tas6s
appropriately*
Since these additional tas6s will i%pose a burden on the Develop%ent Agency7 the
Develop%ent Agency %ay charge a )s* 1. ad%inistration fee to their %e%bers*

Prohibition o! rebates
Section F1 of the !nsurance Act7 1/E= states

:o person shall allow or offer to allow7 either directly or indirectly7 as an
induce%ent to any person to ta6e out or renew or continue an insurance in respect
of any 6ind of ris6 relating to lives or property in !ndia7 any rebate of the whole or
part of the co%%ission payable or any rebate of the pre%iu% shown on the policy7
nor shall any person ta6ing out or renewing or continuing a policy accept any
rebate7 e3cept such rebate as %ay be allowed in accordance with the published
prospectus or tables of the insurer

!f any person fails to co%ply with sub regulation ,previous point2 above7 he shall be
liable to pay%ent of a fine which %ay e3tend to rupees five hundred
Introduction o! I*I*I Prudentia, 0i!e Insurance *om/any 0td.
!C!C! #rudential ife !nsurance Co%pany is a joint venture between !C!C! 'an67 a
pre%ier financial powerhouse and prudential plc7 a leading international financial
services group head+uartered in the Bnited $ingdo%*
!C!C! was established in 1/@@ to lend %oney for industrial develop%ent* Today7 it has
diversified into retail ban6ing and is the largest private ban6 in the country* #rudential
plc was established in 1=F= and is presently the largest life insurance co%pany* *
!C!C! #rudential is currently the :o* 1 private life insurer in the country* For the financial
year ended &arch E17 -..@7 the co%pany garnered )s 1@=F crore of new business
pre%iu% for a total su% assured of )s* 1E7<=. crore and wrote nearly G1@7... policies*
About Prudentia,
#rudential plc
;stablished in 1=F=7 #rudential plc is a leading international financial services co%pany
in the B$7 with around BSK-@. billion funds under %anage%ent7 and %ore than 1G
%illion custo%ers worldwide* #rudential has cha%pioned custo%er0centric products and
services7 supported by over G.7... staff and agents across the region
#rudential has brought to %ar6et an integrated range of financial services products that
now includes life assurance7 pensions7 %utual funds7 ban6ing7 invest%ent %anage%ent
and general insurance
#rudential plc is an international retail financial services group that ai%s to help people
secure and enhance their own and their dependants5 financial well0being by providing
savings7 protection and other products and services suited to their needs*

4e have strong franchises in three of the largest and %ost attractive %ar6ets in the
world7 where rising wealth and changing de%ographics are fuelling de%and for life
insurance and other long0ter% savings and protection products*
Our strategy is to build successful and increasingly profitable businesses in each of
these %ar6ets7 and thereby %a3i%ise returns to our shareholders over ti%e*
!n Asia7 #rudential is B$JJs largest life insurance co%pany with a vast networ6 of -E life
8 fund %anage%ent operations in 1- countries serving F %illion custo%ers0 China7
Hong $ong7 !ndia7 9apan7 !ndonesia7 $orea7 &alaysia7 the #hilippines7 Singapore7
Taiwan7 Thailand 8 Cietna%*
!C!C! #rudential was a%ongst the first private sector insurance co%panies to begin
operations in Dece%ber -... after receiving approval fro% !nsurance )egulatory
Develop%ent Authority ,!)DA2* !C!C! 'an6 has <9H sta6e in the co%pany7 and
#rudential plc has 8AH *
#"01I$(S
I*I*I BA$K
<AH
PR%1&$TIA0
89H
!C!C! 'A:$ #)BD;:T!A
!C!C! and #rudential ca%e together in 1//E to for% #rudential !C!C! Asset &anage%ent
Co%pany7 which has today e%erged as one of the leading %utual funds in !ndia* The
two co%panies bring together two of the strongest financial service brands in Asia7

6nown for their professionalis%7 e3cellent +uality of service and long ter% co%%it%ent
to (OB* )iding on the success of this relationship7 the two co%panies joined hands
once %ore in -...7 to for% !C!C! #rudential ife !nsurance7 with a co%%it%ent to
provide leading0edge life insurance solutions*
!C!C! #rudential has recruited and trained over G.7... insurance advisors to interface
with and advise custo%ers* Further7 it leverages its state0of0the0art !T infrastructure to
provide superior +uality of service to custo%ers*
The co%pany has networ6 with 1- banc assurance tie0ups7 having agree%ents with
!C!C! 'an67 as well as so%e corporate agents* !t has also tied up with organiAations li6e
Dhan for distribution of Salaa% Qindagi7 a policy for the socially and econo%ically
underprivileged sections of society*
*
PR"'I0&
*"MPA$E $AM&: I*I*I PR%1&$TIA0 0I'& I$S%RA$*& *". 0T1.
I$1IA$ PART$&R: I*I*I BA$K
'"RI($ PART$&R: PR%1&$TIA0 /,c
&I%ITE RATI": <FP-G
*"MM&$*&M&$T "' "P&RATI"$: 1/ TH D;C;&';)7 -...
'I&01 "' "P&RATI"$: !F;
#"M& A11R&SS: !C!C! #)BD;:T!A !F; !:SB)A:C; CO&#A:(
!C!C! #)B!F; TO4;)S7 1.=/7 Appasaheb &arathe &arg7 #rabhadevi7
&B&'A!0 F...-@

I*I*I (R"%P STR%*T%R&
*


,I*I*I (rou/

DISI"$
he co!pany"s vision is to make ICICI Prudential the dominant Life and Pensions
player built on trust by world-class people and service.

"R(A$IJATI"$ STR%*T%R&+
The C;O and &anaging Director of !C!C! 'an67 &r* $*C* $a%ath is the Chair%an of
!C!C! #rudential ife !nsurance Co%pany* The organiAation structure is as followsP
,OrganiAation Chart2

Ms. Shikha Sharma
- MD
Mr. Sandeep Batra,
CFO - CS
Mr. Judho jit Das
Chie - !"
Mr.Shridhar
Chief Sales &
Mkt.
Mr. #uneet $anda
!ead - %n&estment
Mr. '."aja(opa)an
*ppointed *+tur,
Mr. Anil Tikoo
!ead -%no. .e+.
Ms. Anita Pai-
Chief ope. &
Und.
PR"1%*TS: "''&R BE I*I*I PR%1&$TIA0
6. Sa.e KnL Product
8. Riders
,a2 Critical !llness 'enefit )ider*
,b2 &ajor Surgical Assistance )ider*
,c2 Accident and Disability )ider*
,d2 Accident 'enefit )ider*
7. *ashba5
9. 0i!e (uard M Return o! Premium
;. 0i!e (uard M Cithout return o! Premium
A. 0i!e (uard M Sin2,e Premium
<. Smart Kid
>. Assure In.est
=. ReAssure
6:. 'inancia, Mar5ets
66. Muta, 'unds
68. Mar5et 0in5ed Insurance P,ans
,a2 ife Ti%e*
,b2 ife in6*
67.Retirement So,utions.
,a2 Forever ife*
,b2 ife Ti%e #ension*
,c2 ife in6 #ension*
69.%nderwritin2
,a2 9et Bnderwriting*
,b2 Bnderwriting for Fe%ale lives*
,c2 Bnderwriting for #regnant Fe%ale ives
,d2 Financial Bnderwriting*
,e2 Student Bnderwriting*
,f2:)! Bnderwriting*
,g2 Age #roof Docu%ent*

,h2 Client Confidential )eport*
,i2 ;3tra )ated #re%iu% H D)T
6;.Keyman Insurance
'inancia, Per!ormance
Eear o! re.iew 8::<-8::>:
A summary o! the !inancia, /er!ormance o! I*I*I
Prudentia, 0i!e Insurance is as !o,,ows
( Ru/ees. in mi,,ion
Particu,ars !or the /eriod ended March 76+ 8::>
8::> 8::<
#re%iu% !nco%e 96<A.:: 11GE*..
Other !nco%e 68:.A: --.*<1
Total !nco%e 9989.:: 11/E*<1
;3penditure >.A7 11*.<
:et #rofitI,oss2 (69<6.>8 ,1.@.*/=2
Share Capital 98;:.:: 1/..*..
&I%ITE STR%*T%R&

*#APT&R -8
Pro-ect Pro!i,e

#IST"RE "' 0I'& I$S%RA$*&
!nsurance concept had been found out way behind in 1Eth and 1Fth century* The earlier
reference to insurance has been found 'abylonia7 the ?ree6s and the )o%ans* The
use of insurance appeared in the account of :orth !talian &erchant 'an6 that then
do%inated the international trade in ;urope at that ti%e*
A brie! history o! the Insurance sector in India:
The business of life insurance in !ndia in its e3isting for% started in !ndia in the
year1=1= with the establish%ent of the Oriental ife !nsurance Co%pany in Calcutta*
So%e of the i%portant %ilestones in the life insurance business in !ndia areP
6=:<: The !ndian &ercantile !nsurance td* set up7 the first co%pany to transact all
classes of general insurance business*
6=68: The !ndian ife Assurance Co%panies Act enacted as the first statute to regulate
the life insurance business*
6=8>: The !ndian !nsurance Co%panies Act enacted to enable the govern%ent to
collect statistical infor%ation about both life and non0life insurance businesses*
6=7>: ;arlier legislation was consolidated and a%ended by the !nsurance Act with the
objective of protecting the interests of the insuring public*
6=;A: -F@ !ndian and foreign insurers and provident societies were ta6en over by the
central govern%ent and nationaliAed* !C for%ed by an Act of #arlia%ent7 viA* !C Act7
1/@G7 with a capital contribution of )est* @ crores fro% the ?overn%ent of !ndia*

The ?eneral insurance business in !ndia7 on the other hand7 can trace its roots to the
Triton Insurance *om/any 0td*7 the first general insurance co%pany established in
the year 1=@.
in Calcutta by the 'ritish* So%e of the i%portant %ilestones in the general insurance
business in !ndia areP
6=;<: ?eneral !nsurance Council7 a wing of the !nsurance Association of !ndia7 fra%es
a code of conduct for ensuring fair conduct and sound business practices*
6=A>: The !nsurance Act a%ended to regulate invest%ents and set %ini%u% solvency
%argins and the Tariff Advisory Co%%ittee set up*
6=<8: The ?eneral !nsurance 'usiness ,:ationaliAation2 Act7 1/<- nationaliAed the
general insurance business in !ndia with effect fro% 1st9anuary*
ife insurance in !ndia
0i!e Insurance in India was nationaliAed by incorporating ife !nsurance Corporation
,!C2 in 1 /@G * All private life insurance co%panies at that ti%e were ta6en over by !C*
!n 1//E the ?overn%ent of )epublic of !ndia appointed ): &alhotra Co%%ittee to lay
down a road %ap for privatiAations of the life insurance sector*
4hile the co%%ittee sub%itted its report in 1//F7 it too6 another si3 years before the
enabling legislation was passed in the year -...7 legislation a%ending the Insurance
Act of 1/E= and legislating the Insurance #egulatory and Develop!ent Authority Act of
-...* The sa%e year that the newly appointed insurance regulator 0 !nsurance
)egulatory and Develop%ent Authority !)DA 00 started issuing licenses to private life
insurers

0ibera,iNation o! the Insurance Sector
iberaliAation co%%it%ents of the country to help in disciplining future econo%ic policies
will include the insurance refor%s* 4hen the world over7 insurance7 %ar6ets have been
opened up7 !ndia cannot re%ain in isolation* ?lobaliAation is the new econo%ic reality7
which is here to stay7 heralding a new era of insurance in !ndia* 4ith the opening of the
insurance industry7 !ndia stands to gain the following %ajor advantagesP
1* ?lobaliAation will provide i%proved opportunities to the custo%ers for better
products7 with %ore reasonable 8 affordable pricing*
-* The custo%er will get +uic6er servicing*
E* !t will enhance the savings rate*
F* ong0ter% funds for infrastructure develop%ent will be available to the country*
@* !t will secure for !ndia larger inflows of foreign capital needed to sustain our ?D#
growth*
I$S%RA$*& S&*T"R R&'"RMS
!n 1//E7 &alhotra co%%ittee was for%ed* !n 1//F7 the co%%ittee sub%itted the report
and so%e of the 6ey reco%%endations includedP
Structure: ?overn%ent sta6e in the insurance Co%panies to be brought down to
@.> ?overn%ent should ta6e over the holdings of ?!C and its subsidiaries so
that these subsidiaries can act as independent corporations* All the insurance
co%panies should be given greater freedo% to operate*
*om/etition: #rivate Co%panies with a %ini%u% paid up capital of )s*1bn
should be allowed to enter the industry* :o Co%pany should deal in both ife and
?eneral !nsurance through single entity* Foreign co%panies %ay be allowed to
enter the industry in collaboration with the do%estic co%panies5 *#ostal ife
!nsurance should be allowed to operate in the rural %ar6et *Only one State evel
ife !nsurance Co%pany should be allowed to operate in each state*

Re2u,atory Body: The !nsurance Act should be changed *An !nsurance
)egulatory body should be set up* Controller of !nsurance ,Currently a part fro%
the Finance &inistry2 should be %ade independent*
In.estments: &andatory !nvest%ents of !C ife Fund in govern%ent securities
to be
reduced fro% <@> to @.>* ?!C and its subsidiaries are not to hold %ore than @>
in any co%pany ,The recurrent holdings to be brought down to this level over a
period of ti%e2
*ustomer Ser.ice: !C should pay interest on delays in pay%ents beyond E.
days* !nsurance co%panies %ust be encouraged to set up unit lin6ed pension
plans* Co%puteriAation of operations and updating of technology to be carried
out in the insurance industry* The co%%ittee e%phasiAed that in order to i%prove
the custo%er services and increase the coverage of the insurance industry
should be opened up to co%petition*
0I'& I$S%RA$*& MARK&T
The ife !nsurance %ar6et in !ndia is an underdeveloped %ar6et that was only tapped
by the state owned !C till the entry of private insurers* The penetration of life insurance
products was 1/ percent of the total F.. %illion of the insurable population* The state
owned !C sold insurance as a ta3 instru%ent7 not as a product giving protection* &ost
custo%ers were under0 insured with no fle3ibility or transparency in the products* 4ith
the entry of the private insurers the rules of the ga%e have changed*
The 1@ private insurers in the life insurance %ar6et have already grabbed nearly 1F
percent of the %ar6et in ter%s of pre%iu% inco%e* The new business pre%iu%s of the
1@ private players have tripled to )s 1... crores in -..@0 .G over last year* &eanwhile7
state owned !CJs new pre%iu% business has fallen*

Inno.ati.e /roducts+ smart mar5etin2 and a22ressi.e distribution* ThatJs the triple
wha%%y co%bination that has enabled fledgling private insurance co%panies to sign up
!ndian custo%ers faster than anyone ever e3pected* !ndians7 who have always seen life
insurance as a ta3 saving device7 are now suddenly turning to the private sector and
snapping up the new innovative products on offer*
The growing popularity of the private insurers shows in other ways* They are coining
%oney in new niches that they have introduced* The state owned co%panies still
do%inate seg%ents li6e endow%ents and %oney bac6 policies*
'ut in the annuity or pension products business7 the private insurers have already
wrested over EE percent of the %ar6et* And in the popular unit0lin6ed insurance
sche%es they have a virtual %onopoly7 with over /. percent of the custo%er*

MAJ"R P0AE&RS I$ I$S%RA$*& S&*T"R
0I'& I$S%RA$*&
B%SI$&SS
$"$-0I'& I$S%RA$*&
B%SI$&SS
ife !nsurance Corporation
!C!C! #rudential ife !nsurance
HDFC Standard ife !nsurance
&a3 :ew (or6 ife !nsurance
'irla Sun ife !nsurance
O& $ota6 &ahindra ife !nsurance
)eliance ife !nsurance
AllianA 'ajaj ife !nsurance
Dabur C?B ife !nsurance
!:? Cyasa ife !nsurance
S'! ife !nsurance
?eneral insurance Corporation
:ational !nsurance Co%pany
The :ew !ndia Assurance Co%pany
The Oriental !nsurance Co%pany
Bnited !ndia !nsurance Co%pany
)eliance ?eneral !nsurance
TATA H A!? !nsurance
)oyal Sundara% Alliance ?eneral !ns*
'ajaj AllianA ?eneral !nsurance
!C!C! o%bard !nsurance
C#AT IS I$S%RA$*&O
!nsurance is a legal contract that protects people fro% the financial costs those results
fro% loss of life7 loss of health7 lawsuits7 or property da%age* !nsurance provides a
%eans for individuals 8 society to cope up with so%e of the ris6 faced in every day life
by every body* #eople purchase contracts of insurance7 called a policy7 fro% various
insurance co%panies*
!nsurance can be divided into three categoriesP
ife !nsurance
?eneral !nsurance
Health !nsurance

ife insurance is a contract for pay%ent of a su% of %oney to the person assured on the
happening of the event insured against* Bsually the contract provides for the pay%ent of
an a%ount on the date of %aturity or at specified intervals or at unfortunate death* The
contract also provides for pay%ent of pre%iu% periodically to the corporation by the
assured*
?eneral insurance includes %any areas of insurance li6e %arine7 %otor7 engineering7
health7 fire7 etc* The contract provides for the pay%ent of an a%ount on the happening
of so%e contingency* These types of contracts are annual in nature*
C#E I$S%RA$*&O
(ou need ife !nsurance because typically the need for inco%e continues for those who
are financially dependent on you7 but there is no guarantee of your ability to earn
consistently and for the rest of your life* ife insurance can help you safeguard the
financial needs of your fa%ily*
This need has beco%e even %ore i%portant due to steady disintegration of the
prevalent joint fa%ily syste%7 and e%ergence of nuclear fa%ilies* The need to protect
your fa%ily5s ever growing needs is why you need ife !nsurance*
&.ents co.ered in ,i!e insurance
!n ife !nsurance we cover the !nco%e ;arning Capacity* The loss of the !nco%e
;arning Capacity can be lost on the happening of the following eventsP0
Death of the life assured
Sic6ness of the life assured ,critical illness2
Accident of the life assured ,death or per%anent disability due to accident2
)etire%ent of the life assured
1eath o! the ,i!e assured can destroy the inco%e earning capacity of the
individual* 4hen a person ta6es a life insurance ,pure insurance2 with the su%

assured payable on death he protects his fa%ily fro% the loss of inco%e earning
capacity due to death* A ife !nsurance co%pany does not pay %oney to the
fa%ily because the life assured has died7 but because the fa%ily has lost the
inco%e earning capacity* Death itself is not covered* The loss of inco%e earning
capacity due to death is covered in life insurance*
!t is often felt that life insurance %eans only death insurance* This is not true* ife
insurance is insurance against the loss of the inco%e earning capacity of the
person* Sic5ness ,critical illness only2 can affect an inco%e earning capacity of
an individual* ife insurance offers protection for the loss of inco%e earning
capacity due to a sic6ness* Since %inor ail%ents do not per%anently destroy the
inco%e earning capacity of an individual the %inor ail%ents are not covered in
life insurance* !nsurance against critical illnesses pay not because the person
has contracted a critical illness7 but because the person has lost his inco%e
earning capacity due to the critical illness*
Si%ilar is the case with accident co.er. All accidents are not covered only those
accidents7 which result in death or per%anent disability of the life assured7 are
covered in life insurance* The pay%ent is not %ade because the person has %et
with an accident7 but the pay%ent is %ade because a person has lost the inco%e
earning capacity due to an accident*
Retirement on the other hand is a certain event* A certain event cannot be
insured at all* The only alternative left for the person is to save for retire%ent* All
the lives assured would definitely retire hence insurance cannot be offered for
retire%ent* !nco%e earning capacity is affected on retire%ent* The retire%ent
plans are therefore savings plans7 which help a person7 save for the retire%ent*

$eed o! ,i!e Insurance
(ou need ife !nsurance because typically the need for inco%e continues for those who
are financially dependent on you7 but there is no guarantee of your ability to earn
consistently and for the rest of your life* ife insurance can help you safeguard the
financial needs of your fa%ily*
This need has beco%e even %ore i%portant due to steady disintegration of the
prevalent joint fa%ily syste%7 and e%ergence of nuclear fa%ilies* The need to protect
your fa%ilyJs ever growing needs is why you need 0i!e Insurance:-
Re/,acement o! Income
ife insurance products can provide support to the fa%ily and ta6e care of the fa%ilyJs
financial re+uire%ents* !t provides a lu%p su% or periodic pay%ents to help replace the
inco%e strea%7 in case of an unfortunate event or an unti%ely de%ise of the
breadwinner*
0i!esty,e Maintenance
ife insurance products can help you build a corpus to protect and %aintain your
lifestyle against fluctuations in your future inco%e*

*osts o! &ducation
(ou need to support your child with a sound educational bac6ground7 to help your child
achieve hisIher drea%s* ife insurance products can help you fulfill these needs7
whether you are there or not*
Retirement &@/enses
)etire%ent is an age when an individual has fulfilled al%ost all his responsibilities and
loo6s forward to rela3ing* ife insurance products can help you lead a secure and
tension free retired life by ensuring that you get guaranteed pension*
Mort2a2e and 1ebt /rotection
4ith increasing consu%eris% and ever0rising de%ands7 loans and debts are now part of
life* ife insurance products help you ensure that your fa%ily is not unduly burdened
with their repay%ents7 in case of an unfortunate event or an unti%ely de%ise of the
breadwinner
#ardshi/s Protection
ife insurance provides a sense of security to the inco%e earner and to hisIher fa%ily*
'uying life insurance frees the individual fro% various unnecessary financial burdens
that can otherwise %a6e one spend sleepless nights*
R"0& "' 0I'& I$S%RA$*&
Security and Stability
!nvest%ent
#reservation of Health
!ncrease ;fficiency
Self )eliance
&ental #eace
#lanning of future
Safe guard against statutory liability
CapitaliAation of earning capacity
;3e%ption fro% Ta3 iability

Safety to !nvest%ent &ode*

Ad.anta2es o! 0i!e Insurance
6. It is su/erior to an ordinary sa.in2 /,an
Bnli6e other saving plans7 it affords full protection against ris6 of death* !n case of
death7 the full su% assured is %ade available under a life assurance policyR
whereas under saving sche%e the total accu%ulated saving alone will be
available* The later will be considerably less than the su% assured7 if death
occurs during early years*
8. &asy sett,ement ) /rotection a2ainst creditors
The life assured can na%e person,s2 called :o%inee to who% the policy %oney
would be payable in the event of his death* The proceeds of a life policy can be
protected against the clai% of the creditors of the life assured by effecting a valid
assign%ent of the policy*
7. Ready mar5etabi,ity ) suitabi,ity !or Puic5 borrowin2
After an initial period7 if the policyholder finds hi% unable to continue pay%ent of
pre%iu%s7 he can surrender the policy for a cash su%*Alternatively7 ha can tide
over a te%porary difficulty by ta6ing loan on the sole security of the policy without
delay* Further7 a life insurance policy is so%eti%es acceptable as security for a
co%%ercial loan*
9. Ta@ Re,ie!
The !ndian !nco%e0Ta3 Act allows deduction of certain portion of the ta3able
inco%e7 which is diverted to pay%ent of life insurance pre%iu%s fro% the total
inco%e ta3 liability* 4hen this ta3 relief is ta6en into account7 it will be found that
the assured is in effect paying a lower pre%iu% for his insurance*

0imitations o! insurance
All ris6s cannot be insured
There %ust be insurable interest
!nsurance is li%ited to the financial value
There %ust be large nu%ber of si%ilar ris6s
!t %ust be possible to calculate the ris6 of loss
osses should not be catastrophic
osses %ust not be too s%all
osses %ust be reasonably une3pected
osses %ust be accidental
!t %ust be consistent with public policy
1i!!erences between ,i!e insurance and non-,i!e insurance:
)is6 ,possibility of a loss2 is certain in life insurance* ;very person who is insured is
li6ely to die7 and death would co%pletely destroy the inco%e earning capacity* !n
non0life insurance the ris6 is uncertain and the insured event %ay or %ay not result
in the loss to the policyholder*
ife insurance is a long ter% contract while non0life insurance contracts are one year
contracts*
Difficulty in deter%ining value of hu%an life in life insurance* !n non0life insurance the
value can be deter%ined with %uch ease*
ife insurance is not a strict contract of inde%nity* :on0ife insurance contracts are
strict inde%nity contract*

*#APT&R - 7
"BJ&*TID&S "' T#& ST%1E

"BJ&*TID&S "' T#& S%T1E
1* To identify the %ain factors influencing preference and e3pectation of
life insurance policy holders*
-* To find the satisfactory level of police holder5s about the products of
various ife !nsurance*
E* To find out the %ain proble%s faced by policyholders of life insurance*
F* To find out the satisfactory level of policyholder5s about the service
provided by the agents of insurance co%panies*
@* To analyAe the police holders opinion towards the pre%iu% aspect
and other charges*

*#APT&R-9
R&S&AR*# M&T#"1"0"(E

R&S&AR*# M&T#"1"0"(E
A%erican &ar6eting Association defines %ar6et research as a syste%atic gathering7
recording and analyAing of data about proble%s to %ar6eting of goods and services* !t
involves the diagnosis of infor%ation needs and the selection of relevant interrelated
variables* Thus &ar6eting )esearch is a syste%atic and objective process of identifying
and for%ulating the %ar6eting proble%s7 setting research7 setting research objective
and %ethods for collecting7 editing7 coding7 tabulating7 evaluating7 analyAing7
interpreting and presenting data in order to find justified solution for these proble%s*
The research process is carried out according to a designated series of steps7 which are
re+uired to be ta6en in a chronological order as given belowP
PR"B0&M 1&'I$ATI"$
This first step is very significant as if the proble% is defined vaguely then the research
process would be a futile e3ercise so research proble% should be properly for%ulated*
Here in this project the research proble% was STo study police holder5s ;3pectation and
preference Towards Selected private ife !nsurance Co%panies !n $ota City*
$AT%R& "' 1ATA
The study was based on survey %ethod* The the%e of study was to find the policy
holder5s preference and e3pectations towards various ife !nsurance co%panies on the
various products *the study is based on pri%ary and secondary data*
S"%R*& "' 1ATA
#ri%ary Data
Secondary Data
Primary 1ata

#ri%ary data is that data that is collected afresh for the first ti%e and that is
original in nature* The pri%ary data is collect through Tuestionnaire
Secondary data
Secondary data is that data that has been collected by so%e one else and which has
already been pass through the statistical process* Secondary data here has been
collected fro% co%pany profile7 product profile of the co%pany7 newspapers7 %agaAines
and general discussion with co%pany channels*
SAMP0I$( %$ID&RS&

The Sa%pling universe is the selected private life insurance co%panies of
$ota city*
SAMP0I$( 'RAM&
The selected private life insurance co%panies ta6en for sa%ples are
);!A:C; ife insurance
!:? C(S(A ife insurance
HDFC STA:DA)D ife insurance
!C!C! #)BD;:T!A
SAMP0I$( SIJ&
Sa%pling siAe for the study is 1.. which are collected fro% selected private insurance
co%pany*
SAMP0I$( 1&SI($
$on- /robabi,ity sam/,in2 is that sa%pling procedure which does not afford
Any bases for esti%ating the probability that each ite% in the population has of being
included in the sa%ple *non probability sa%pling is also 6nown by different na%es such
as deliberate sa%pling7 purposive sa%pling and judg%ent sa%pling*
M&T#"1 "' SAMP0I$(

*on.enience Sam/,in2
The sa%ple units are selected according to the convenience of the investigator or
)esearcher* Here7 the researcher used convenience sa%pling design collection of
pri%ary data through structured +uestionnaires*
R&S&AR*# 1&SI($
)esearch design is the conceptual structure within which research is conducted7 A
research design is the arrange%ent of condition for collection and analysis of data in a
%anner that ai%s to co%bine relevance to the research purpose with econo%y in
procedure"4ith this as a base 1escri/ti.e Research design7 which includes survey
and fact findings the %ajor purpose descriptive research is for the description of the
state of affairs7 as it e3ist at present*
M&T#"1S "' 1ATA *"00&*TI"$
Iuestionnaire methods
A +uestionnaire consists of a nu%ber of +uestion printed or typed in a definite order on
a for% or set of for%s the respondents have to answer the +uestions on their own Tuite
often* The +uestionnaire is considered as the heart of survey operation* Hence7 it
should be very care fully constructed* !f it is not properly set up7 then the survey is
bound to fail* This fact re+uires us to study the %ain aspects of a +uestionnaire viA*7 the
general for%7 +uestion se+uence and +uestion for%ation and wording*
*,osed-ended Puestions
Such +uestions are also called fi3ed alternative +uestions* They refer to those +uestions
in which the respondents are given a li%ited nu%ber of alternative responses fro%
which he I she has to select the one that %ost closely %atches his opinion or attitude*
"/en-ended Puestion
So%e ti%es these +uestions are called free answer +uestions* As the na%e i%plies7 this
refers to a +uestion that has no fi3ed alternative to which the answer %ust confir% *the
respondent5s answer in his I her own words*


*#APTR& M ;
1ATA A$A0ESIS

TAB0& $" M 6 The detai,s re2ardin2 2enera, /ro!i,e o! the /o,icy
ho,ders
Factors Classification :o* of respondents #ercentage
Se3


&ale
Fe%ale
GE
E<
G<>
E<>

Age
'elow -. (rs
-1 H E. (rs
E1 H F. (rs
Above F. (rs
-@
-/
-1
1F
-/>
EG>
-1>
1F>
;ducation
al
Tualificati
on
!lliterate
School level
?raduate
Other
1-
EG
EF
1=
1->
EG>
EF>
1=>
Occupatio
n

#rofessional
'usiness
;%ployee
Housewife
-F
-<
EG
1E
-F>
-<>
EG>
1E>
Fa%ily
!nco%e
,Annual2
'elow 1.....
1....10 -.....
-....10 E.....
Above E.....
-E
E<
-/
11
-E>
E<>
-/>
11>
I$T&RPR&TATI"$
)egarding personal profile of the consu%er7 the above table show that GE>
respondents are %ale7 EG> respondents are having the age of above -10E.
years7 7 about EF> of the% are graduates7 and the %a3i%u% respondent are
e%ployees EG> and in case of annual inco%e of the fa%ily7 -E> of the% are
under the inco%e group of below )s*1.....*

Factors Classification :o* of respondents #ercentage
Se3


&ale
Fe%ale
GE
E<
GE>
E<>


Age
'elow -. (rs
-1 H E. (rs
E1 H F. (rs
Above F. (rs
-/
EG
-1
1F
-/>
EG>
-1>
1F>

;ducation
al
Tualificati
on
!lliterate
School level
?raduate
Other
1-
EG
EF
1=
1->
EG>
EF>
1=>

Occupatio
n

#rofessional
'usiness
;%ployee
Housewife
-F
-<
EG
1E
-F>
-<>
EG>
1E>

Fa%ily
!nco%e
,Annual2
'elow 1.....
1....10 -.....
-....10 E.....
Above E.....
-E
E<
-/
11
-E>
E<>
-/>
11>

8* 1ATA (ID&S PR&'&R&$*& "' R&SP"$1&$TS "' I$S%RA$*&
*"MPA$I&S
*"MPA$ELS $AM&
$"."'
R&SP"$1&$T
S#AR& (H
R&0IA$*& 0I'&
I$S%RA$*&
7: 7:
I*I*I PR%1&$TIA0 8: 8:
I$( DESEA 8> 8>
#1'* 88 88
T"TA0 6:: 6::
I$T&RPR&TATI"$
E.> of the people contacted prefer ); policy to any other and
therefore it is ran6ed no*1 by that percent of respondents*

7. 1ATA (ID&S B&$&'ITS "' I$S%RA$*& P&R*&ID&1 BE
R&SP"$1&$TS
B&$&'ITS
$"."'
R&SP"$1&$T
S
S#AR& (H
#rotection #lan E. E.
Saving #lan -= -=
!nvest%ent #lan -. -.
)etire%ent #lan -- --
TOTA 1..
1..
I$T&RPR&TATI"$
E.> of the respondents believe that protection plan is the biggest
benefit of an insurance policy*
4hereas7 -=> and -.> of the% believe that the other benefits are
Saving #lan and invest%ent plans respectively*

9. 1ATA PR"DI1&S '&AT%R&S "' I$S%RA$*& P"0I*E T#AT
ATTRA*T&1 R&SP"$1&$TS
'&AT%R& $"."'
R&SP"$1&$
TS
S#AR&
(H
&oney 'ac6
?uarantee
-. -.
arger )is6 Coverage E< E<
ow #re%iu% E. E.
Co%pany5s
)eputation
1E 1E
TOTA 1.. 1..
I$T&RPR&TATI"$
&ajority of the respondent ,E<>2 found larger ris6 coverage as the
%ost attracted feature of the all*

;. 1ATA (ID&S P&"P0& P&R*&PTI"$ AB"%T I$S%RA$*&
R&SP"$S& $". "'
R&SP"$1&$
TS
S#AR&
(H
A saving tool E- E- >
A ta3 saving device -/ -/ >
A tool to protect your
fa%ily
E/ E/ >
!:T;)#);TAT!O:
E-> of the respondents have perception of !nsurance being a
saving tool*
-/> of the respondents have perception of !nsurance being a ta3
saving device*
E/> of the respondents are with the view that !nsurance is a tool
to
protect your fa%ily *

A. 1ATA S#"CS SATIS'A*TI"$ "' R&SP"$1&$TS CIT#
R&SP&*T T"
S&RDI*& A(&$T
R&SP"$S& $". "'
R&SP"
$1&$T
S
S#A
R&
(H
Satisfied F@ F@>
:ot satisfied @@ @@>
:ot )esponded . .*.>
Total 1.. 1..
>
I$T&RPR&TATI"$
F@> of the respondents are satisfied with their e3isting service
agent*
@@> of the respondents are not satisfied with their e3isting
insurance agent*
All of those who have ta6en a policy have responded*

@@*..>
F@*..>
Satis!ied $ot satis!ied

<* 1ATA S#"CS C#AT P&"P0& C"%01 0""K '"R I$ A$
I$S%RA$*& *"MPA$E O
R&SP"$S& $". "'
R&SP"$1&$TS
S#AR&
(H
A trusted
na%e
-/ -/ >
Friendly
service 8
responsivene
ss
-@ -@ >
?ood plans -/ -/ >
Accessibility 1< 1< >
!:T;)#);TAT!O:
-/> custo%ers loo6 for a trusted na%e in a co%pany for
insurance*
-/> custo%ers loo6 for a good plan in a co%pany for insurance*
Friendly service 8 responsiveness and Accessibility are also
i%portant factors loo6ed by custo%ers in a co%pany*


*#APT&R-A
'A*TS ) 'I$1I$(S

'A*TS ) 'I$1I$(S
6. I$T&RPR&TATI"$
)egarding personal profile of the consu%er7 the above table show that GE>
respondents are %ale7 EG> respondents are having the age of above -10E.
years7 7 about EF> of the% are graduates7 and the %a3i%u% respondent are
e%ployees EG> and in case of annual inco%e of the fa%ily7 -E> of the% are
under the inco%e group of below )s*1.....*
8. I$T&RPR&TATI"$
E.> of the people contacted prefer ); policy to any other
and there fore it is ran6ed no*1 by that percent of
respondents*
*
7. I$T&RPR&TATI"$
E.> of the respondents believe that protection plan is the biggest benefit
of an insurance policy*
-=> and -.> of the% believe that the other benefits are Saving #lan and
invest%ent plans respectively*
9. I$T&RPR&TATI"$
&ajority of the respondent ,E<>2 found arger ris6 coverage as
the %ost attracted feature of the all*

;. I$T&RPR&TATI"$
E-> of the respondents have perception of !nsurance being a saving tool*
-/> of the respondents have perception of !nsurance being a ta3 saving
device*
E/> of the respondents are with the view that !nsurance is a tool to
protect your fa%ily*
A. I$T&RPR&TATI"$
F@> of the respondents are satisfied with their e3isting service agent*
@@> of the respondents are not satisfied with their e3isting insurance agent*
All of those who have ta6en a policy have responded*
<. I$T&RPR&TATI"$
-/> custo%ers loo6 for a Trusted na%e in a co%pany for insurance*
-/> custo%ers loo6 for a good plan in a co%pany for insurance*
Friendly service 8 responsiveness and Accessibility are also i%portant factors
loo6ed by custo%ers in a co%pany*

*#APT&R-<
*"$*0%SI"$

*"$*0%SI"$
Our e3haustive research in the field of ife !nsurance threw up so%e interesting trends
which can be seen in the above analysis* A general i%pression that we gathered during
Data collection was the i%%ense awareness and 6nowledge a%ong people about
various co%panies and their insurance products* #eople are beginning to loo6 beyond
!C for their insurance needs and are willing to trust private players with their hard
earned %oney*
#eople in general have been i%pression by the %ar6eting and advertising ca%paigns of
#rivate insurance co%panies* A high penetration of print7 radio and Television ad
ca%paigns over the years is beginning to have its i%pact now*
Another heartening trend was in ter%s of people viewing insurance as a ta3 saving and
invest%ent instru%ent as %uch as a protective one* A very high nu%ber of respondents
have opted for insurance for such purposes and it shows how insurance co%panies
have been successful to attract public %oney in recent ti%es*
The general satisfaction levels a%ong public with regards to policy and agents still
re+uires i%prove%ent* 'ut therein lies the opportunity for a relative new co%er li6e
HDFC Standard life7 !C!C! prudential7 );!A:C; life !nsurance 7etc private !nsurance
Co%pany * !C has never been 6nown for pro%pt service or custo%er oriented %ethods
and private insurance co%panies can build on these factors*

*#APT&R ->

S%((&STI"$
The life insurance co%panies could advertise their product through various %ass
%edia*
The product ter%s and conditions should be co%pletely transparent to the
people*
&ore training could be given to agent to sell the product because the agents are
the bac6bone of the life insurance co%panies*
The insurance co%pany should educate their custo%er on different
products7 which satisfy their special needs*
The life insurance co%panies can arrange so%e %eetings to populariAe their
sche%es a%ong the public*
The disposal of clai%s can be %ade easy for policy holders*
The insurance co%panies could develop viable 8 cost effective distribution
channel*

C)& could be followed to sell the product7 for that the insurance co%panies %ay
adopt technology to store the lot of data for %aintaining long ter% relationship 8
carry out continuous follow up progra%s*

A::;DB);S

);F;);:C;S
TB;ST!O::A!);
1* 'OO$SI&A?AQ!:;S );FF;);DP
ST%1E (%I1&- PRI$*I0&S ) PRA*TI*&S "' 0I'& F
(&$&RA0I$S%RA$*&+ by AIMA.
Boo5s /ub,ished by I$S%RA$*& I$STIT%T& "' I$1IA
0I'&-I$S%RA$*&+ by Mc (I00
I$S%RA$*&CAT*#.
M"$&E"%T0""K.
-* 4;'S!T;S );FF;);DP
444*);!A:C;!F;*CO*!:
CCC.*I'AI$S%RA$*&.*"M
CCC.M"$&E"%T0""K.*"M
CCC.I$S%RA$*&.I$1.*"M
E* );#O)TSIA)T!C;S );FF;);DP
R&P"RT: ISS%&S ) *#A00&$(&S 'A*I$( T#& I$S%RA$*& I$1%STREQ.
1ec8::>..
R&P"RT: *"PI$( CIT# *"MP&TITI"$QJan8::=

Iuestionnaire
$AM&: QQQQQQQQQQQQ..
A(&: QQQQQQQQQQQQ..
(&$1&R: Ma,e 'ema,e

MARITA0 STAT%S Sin2,e Married
A11R&SS: QQQQQQQQQQQQQQQQQQ
QQQQQQQQQQQQQQQQQQ
QQQQQQQQQQQQQQQQQQ
*"$TA*T $". QQQQQQ M"BI0& $". QQQQQ..
1* 4hat is your educational +ualification U
1.
th
#ass 1-
th
#ass ?raduate #ost ?raduate
-* Any professional +ualification U
&'A C*A !C4A Others
Specify VVVVVVV**
E* How %any policies you have ta6enU
a2 One
b2 Two

c2 Three
d2 &ore than three


F* 4hat are the reasons to invest your %oney in private life insuranceU
,)an6 the%2

a2 For ris6 cover
b2 For children5s

c2 For saving 8 invest%ent
d2 For others


@* 4hat are your opinions regarding the infor%ation 8 details given in
advertise%ent about the policies by private life insurance co%paniesU
a2 ;3cellent
b2 ?ood

c2 Average

d2 #oor

G* The plan7 which you prefer the %ostU
,)an6 the%2

a2 #rotection
b2 Savings plans

c2 !nvest%ent plans
d2 )etire%ent plans

<. 4hich co%pany insurance policy you prefer$
,)an6 the%2

a2 !C!C! #)BD;:T!A
b2 HDFC STA:DA)D !F;
c2 !:? C(S(A !F;
d2 );!A:C; !F; !:SB)A:C;
=* 4hich feature of your policy attracted you to buy it$
,)A:$ TH;&2
a2 O4 #);&!B&
b2 A)?;) )!S$ COC;)A:C;
c2 &O:;( 'AC$ ?BA):T;;
d2 );#BTAT!O: OF CO&#A:(

/% 4hat5s your perception about insurance?
,)A:$ TH;&2
a2 A SAC!:? TOO
b2 A TAD SAC!:? D;C!C;

c2 A TOO TO #)OT;CT FBTB);

1. Satisfaction level of policyholder5s towards the service of agents$
a2 SAT!SF!;D
b2 :OT SAT!SF!;D

c2 :OT );S#O:D!:?
11. #olicy holder5s preference towards pay%ent of pre%iu% %odeU
,)A:$ TH;&2
a2 &O:TH;( &OD;
b2 TBAT;)( &OD;
c2 HAF (;A)( &OD;
d2 (;A)( &OD;
1-* 4hat do you intents to gain fro% invest%entsU
a2 SAC!:? 8 );TB):S
b2 S;CB)!T(

c2 TAD ';:!F!TS
1E* 4hat5s the right age to buy insuranceU
a2 AFT;) -@ (rs
b2 AFT;) E@ (rs

c2 AFT;) F@ (rs
d2 A:(T!&;


1F* How would you rate indian insurance co%paniesU
a2 )!?!D #A:S
b2 :O:0BS;) F)!;:D(
c2 B:SAT!SFATO)( S);C!C;S
d2 :O:0A??);SS!C;
e2 SAT!SFACTO)(
f2 ?OOD
g2 C;)( ?OOD

1@* Are you planning for new invest%entO


#A::!:? :OT #A:!:?

1G* 4ould you go for insurance if a service provider away fro% the city
offers better service 8 productsU
a2 (;S
b2 :O
c2 B:C;)TA!:
T#A$K E"%
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