Professional Documents
Culture Documents
INTRODUCTION
1
Reliance Life Insurance
Anil Dhirubhai Ambani Group
What is insurance
2
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Classification of Insurance
Insurance of Person
Insurance of Property
Insurance of Interest
Insurance of Liability
Insurance of Person:
The risk associated with human life and health, resulting from
unplanned contingencies could be covered under insurance up to the
limit specified. In the event of his death, his dependants will be
reimbursed to the full amount that he was insured for. Or if the
insured person meets with an accident or suffers from an illness that
cripples him forever, he will be compensated with the complete sum
assured anyway since he may not be able to lead a normal life again.
In case, the accident is not that severe, he should be able to recover
after medical treatment and rehabilitation. If he has opted for
3
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Insurance of Property:
4
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Insurance of Interest:
Insurance of Liability:
5
Reliance Life Insurance
Anil Dhirubhai Ambani Group
6
Reliance Life Insurance
Anil Dhirubhai Ambani Group
7
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Life Insurance has many uses for both individuals and businesses.
Some common uses include:
Individual Uses
8
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Business Uses
9
Reliance Life Insurance
Anil Dhirubhai Ambani Group
10
Reliance Life Insurance
Anil Dhirubhai Ambani Group
11
Reliance Life Insurance
Anil Dhirubhai Ambani Group
12
Reliance Life Insurance
Anil Dhirubhai Ambani Group
1. Road transport
2. Setting up Industrial Estate
3. Directly financing Industry
4. investment in corporate sector like
5. Share
6. Debentures
7. Term Loan
These were the areas, which directly affect the live of the people
and their economic well beings.
13
Reliance Life Insurance
Anil Dhirubhai Ambani Group
HEAD OFFICE
OFFICES IN PUNJAB
Branch Manager
Reliance Life Insurance Company Limited
C/o. Reliance General Insurance Office, No. 32, 4 t h Floor, Central
Mall, Mall Road,
Amritsar, Amritsar, Punjab – 143001
Branch Manager
Reliance Life Insurance Company Limited
First Floor, Sharma Complex, Powe House Road, Bhatinda,
Bhatinda , Punjab – 151001
Branch Manager
Reliance Life Insurance Company Limited
SCO 141-142, Sector 8C (Ground Floor) Chandigarh, Punjab –
160009.
Branch Manager
Reliance Life Insurance Company Limited
14
Reliance Life Insurance
Anil Dhirubhai Ambani Group
C/o. Reliand Business Centre, 3 r d Floor Suite No. 308/309, SCO 60-
62, Sector 17 C, Chandigarh, Chandigarh, Punjab – 160009
Branch Manager
Reliance Life Insurance Company Limited
No. 916-917, Lower Ground Floor, Nimrata Complex, Adjuscent.
WIMPY, G. T. Road, Jalandhar, Jalandhar, Punjab – 144001.
Ph: 0181-3201066
Branch Manager
Reliance Life Insurance Company Limited
Company Limited C/o. Reliance general insurance, Suryamall,
Above Ebony, 3 r d floor, Mall road, Ludhiana.
Branch Manager
Reliance Life Insurance Company Limited
Cabin No. F3, SCO 131, Chotti Baradari, Near Sandhu Furnishes,
Patiala, Patiala, Punjab – 147001
15
Reliance Life Insurance
Anil Dhirubhai Ambani Group
16
Reliance Life Insurance
Anil Dhirubhai Ambani Group
17
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Individual Plans
18
Reliance Life Insurance
Anil Dhirubhai Ambani Group
19
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Eligibility
Any healthy male or female, who has completed the age of 5 years
and is not older than 65 years, can avail of this policy.
20
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Additional benefits
Yes, for a marginal additional premium payment, you can opt to
have the Accidental Death & Total and Permanent Disablement
Benefit, the Critical Condition Benefit and / or Term Life Insurance
Benefit.
21
Reliance Life Insurance
Anil Dhirubhai Ambani Group
22
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Cancer
Coronary artery by-pass graft surgery
Heart attack
Aorta surgery
Heart valve replacement
Kidney failure
Stroke
Major organ transplant
Coma
23
Reliance Life Insurance
Anil Dhirubhai Ambani Group
The unique feature of this policy is that the risk cover continues for
the full sum assured for an extended period of 5 years even, after
payment of the full sum assured at the end of the premium paying
term.
Limiting Conditions
Sum assured after paying the premiums for the full duration of
the policy
The full sum assured under the policy will be paid at the end of the
premium paying term instead of waiting till the maturity of the
policy, that is, a full five years in advance. Again, at the end of the
policy term, the full bonuses will be paid.
24
Reliance Life Insurance
Anil Dhirubhai Ambani Group
If death takes place after all the premiums have been paid, an
amount equal to the sum assured under the policy along with
accrued bonuses up to the date of death will be paid immediately.
This will be in addition to the sum assured already paid at the time
of completion of premium paying term.
25
Reliance Life Insurance
Anil Dhirubhai Ambani Group
A unique feature of this policy is that the risk cover continues for
the full sum assured even though the periodical payments are being
made. This policy also participates in the profits and is eligible for
bonus.
Limiting conditions
Yes, the minimum amount for which a Reliance Cash Flow Plan
policy can be taken is Rs. 25,000. There is also a limitation on the
minimum premium paying term which is 7 years, while the
maximum term is 34 years. An important point to note is that since
periodical payments are available, it will not be necessary for you
to raise a loan. Hence, there is no provision for granting a loan
under this policy.
26
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Sum assured after paying the premiums for the full duration of
the policy
You receive the first payment at the end of the 4 t h year and
subsequent payments at intervals of 3 years. The entire vested bonus
is paid along with the last installment on the date of maturity of
policy.
Anything more……
27
Reliance Life Insurance
Anil Dhirubhai Ambani Group
A unique feature of this policy is that the risk cover continues for
the full sum assured even though the periodical payments are being
made. This policy also participates in the profits for the full term of
the policy.
There is the usual exemption from tax, for premiums paid, as per the
IT Act. The money you have invested earns interest and comes to
you in the from of terminal benefits and Bonus, without the
insecurities attached to the ups and downs of the money market.
Further, at Reliance Life Insurance, we offer you the best of
courtesy, prompt service and a high level of financial security.
28
Reliance Life Insurance
Anil Dhirubhai Ambani Group
29
Reliance Life Insurance
Anil Dhirubhai Ambani Group
RESEARCH METHODOLOGY
Techniques
30
Reliance Life Insurance
Anil Dhirubhai Ambani Group
RESEARCH METHODS
31
Reliance Life Insurance
Anil Dhirubhai Ambani Group
32
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Selective observation
33
Reliance Life Insurance
Anil Dhirubhai Ambani Group
four columns for ten minutes, and so on. By doing this, I would be
able to get a picture of what the shole crowd was doing. And, most
importantly for selective observation, I would be forced to look at
all parts of the crowd at some point time, rather than just those who
were doing what I expected them to do.
Inaccurate observation
Methodology Adopted
34
Reliance Life Insurance
Anil Dhirubhai Ambani Group
35
Reliance Life Insurance
Anil Dhirubhai Ambani Group
DATA ANALYSIS
Keeping in mind the objectives of the study, the survey was being
done and following interpretation were being drawn.
1. Have you heard about Privatization in Life Insurance
Sector ?
Objective :- To know the awareness of Privatization in insurance
sector, this question is asked. As there are a number of private
insurance companies, which provide a variety of products and
services as compared to, nationalized insurance companies.
Awareness of Privatization in Insurance sector
Interpretation
The evident from above finding showed that out of 100 respondents,
78 respondents are aware of private companies present in the
insurance sector and rest of the respondents i.e., 22 is not aware of
private insurance companies.
36
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
37
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
According to above data Electronic Media plays a vital role in
the promotion of Reliance Life Insurance. As 56 of the
respondents are aware through Electronic Media, 20 through
Agents, 10 through Print Media and 14 through other like friends
and relatives.
38
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
The above figure depicts that 68 of the total respondents agree that
private sector was providing better services as compared to the
public sector.
39
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
40
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
The above evident shows that out of the total respondents 62
dealing with LIC, which is a public sector insurance company, 18
respondents were dealing with ICICI Pru and HDFC Std. Life
respectively, 03 respondents are dealing with Reliance Insurance
company.
41
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
42
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
43
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Interpretation
44
Reliance Life Insurance
Anil Dhirubhai Ambani Group
10. If you are not taking any insurance policy, please tell us
the reasons why?
Objective: - To know the reasons not to buy any insurance plan
by the respondents.
4.10 Reasons not to buy any insurance plan
Interpretation
45
Reliance Life Insurance
Anil Dhirubhai Ambani Group
46
Reliance Life Insurance
Anil Dhirubhai Ambani Group
LIMITATIONS OF STUDY
CONCLUSION
47
Reliance Life Insurance
Anil Dhirubhai Ambani Group
48
Reliance Life Insurance
Anil Dhirubhai Ambani Group
Reliance Life insurance has set all the strategies and mission after
proper vision and is achieving the largest by working in co-
operative and co-ordinate manner and giving the people full
services and facilities and making easy. So I would like to
conducted by saying that Reliance Life insurance is a wonderful gift
given to the mankind in the new are for people development and
maintenance of the world as well as India.
49
Reliance Life Insurance
Anil Dhirubhai Ambani Group
QUESTIONNAIRE
1. Have you heard about privatization in Life Insurance sector ?
a) Yes b) No
2. Have you heard about Private Insurance Company Reliance
Life Insurance ?
a) Yes b) No
3. From where did you come to know about Reliance Life
Insurance ?
a) Electronic Media b) Print Media
c) Agents d) Others
a) Yes b) No
If yes, Remarks___________________________________________
If no, Why_______________________________________________
a) Yes b) No
50
Reliance Life Insurance
Anil Dhirubhai Ambani Group
51
Reliance Life Insurance
Anil Dhirubhai Ambani Group
6. Income:
a) Less than Rs. 50,000
b) Rs. 50,000 to Rs. 1,50,000
c) Rs. 1,50,000 to 3,00,000
d) Rs. 3,00,000 & above
7. Address________________________ __________________
_________________________________________
52