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ANALYSIS OF ULIP

PRODUCT
OF HDFC LIFE WITH MAJOR
COMPITITORS SPECIAL
REFERENCE TO LIC
M IN A K S H I G O YA L
M B A 3 R D S EM
A IET

Introduction ofH D FC Life


HDFC Life, one of India's leading private life

insurance companies, offers a range of individual and


group insurance solutions. It is a joint venture
between Housing Development Finance Corporation
Limited (HDFC), India's leading housing finance
institution and Standard Life plc, the leading
provider of financial services in the United Kingdom.
HDFC Ltd. holds 72.37% and Standard Life Ltd.
holds 26.00% of equity in the joint venture, while the
rest is held by others.

W hat is U LIP ?
ULIPs are a category of goal-based financial solutions that

combine the safety of insurance protection with wealth creation


opportunities. In ULIPs, a part of the investment goes towards
providing you life cover. The residual portion of the ULIP is
invested in a fund which in turn invests in stocks or bonds; the
value of investments alters with the performance of the
underlying fund opted by you.
Simply put, ULIPs are structured in such that the protection

element and the savings element are distinguishable, and hence


managed according to your specific needs. In this way, the
ULIP plan offers unprecedented flexibility and transparency.

Research Methodology
Objective of the study :
To obtain general awareness about the insurance sector .
To do comparative analysis of ULIPS plan of HDFC life insurance with the special competitor LIC.
To do the market awareness about the Unit link Insurance Plan.
To identify the improvement opportunities and make appropriate suggestion.
To compare the different types of charges charged by insurers from the insured
To know the fund option available to the insured.
To know other important aspects affecting the interest of the policy holder.

LIMITATION OF STUDY
An underlying assumption for the entire project is that the details and the feedback received from

the population is true.


Sample of only 100 respondents is selected from the population.
Some of the respondents were not ready to fill the questionnaires and some of them were not ready
to come out openly.

Primary Data
The primary data was collected through the questionnaire

Secondary Data
Browsing different website
Referring various articles, reports, journals, magazines on

insurance.
Referring different books and previous project reports in college
library.

TYPES OF RESEARCH:
Descriptive Research is used for the study as it helps fact
finding through surveys and enquiries.

D ata A nalysis A nd Interpretation


Life Coverage Of The Respondents

30%

70%

Yes
No

Types O fInsurance Policy H olding


Types Of Insurance

52%

48%

Traditional
ULIP

Respondent Insurer

RESPONDENT INSURER

20%
50%

30%

HDFC
LIC
OTHERS

R espondents Invested In The U LIP

Respondent Invested In The ULIP

10%
40%
50%

HDFC
LIC
Others

Facts And Findings


There is a common opinion that ULIP has a good future as it will

satisfy all the wants of an investor including return.


Around 29% of sample population is ready to invest if they get High

Returns, apart from Benefit of Partial & Full Withdrawal Facilities.


50% of the sample population is ready to invest in ULIP.
Around 60% like to invest in private life insurance companies.
Even though majority of the people have a good awareness but still

they have a negative attitude towards investing in insurance and


related securities.
25% of sample populations are not satisfied with their High Returns

from the existing Insurer.


24% of sample population is satisfied with Tax Benefits provided by

the existing insurance companies.


30% of sample population still has not insured their life. So there is a

huge demand for insurance products to exploit the market.

Suggestion
HDFC Standard could introduce more customer friendly

feature on its policies like unlimited free switches, lower


administration charges, more allocation to the units in the
first year etc.
Company can give more importance to the new age insurance
solutions.
Company should introduce more innovative pension and
child ULIP plans as they have more demand.
HDFC must clearly introduce ULIP products with low
premium because the low profile customers who want to
invest in HDFC Standard have no option other than going to
other private players.

Conclusion
The falling interest rates, the collapse of many small-time

financial institutions, the scope for entering related areas


like banking and pensions in a bid for synergy and the
promise of E-Commerce provide opportunities for the
new products like ULIPs in the insurance market as it
gives high returns and insurance coverage to the
customers.
Life insurance has today become a core of market
economy since it offers plenty of scope for generating
large sum of money with the time by offering its
customers perfect products to satisfy their financial need.

TH AN K YO U