TRAINING REPORT

ON
POTENTIAL OF LIFE INSURANCE INDUSTRY IN GURGAON
Undertaken At
MetLife India Insurance C! Ltd" Gur#an!
Submitted to
MA$ERS$I DAYANAND UNI%ERSITY"RO$TA&
In partial fulfilment of the requirements for the award of the degree of
MASTER OF 'USINESS ADMINISTRATION
(INDUSTRY INTEGRATED)
(*
nd
Se+ester)
Su,+itted ,-

Name : LOKES KU!A" #AN$ELIA
"egn% No% &'()*'&*+'

SK,LA"K S#OOL O- .USINESS / 0E#NOLO1,
2ALA! 3IA" SE#0O" 4)51U"1AON6A",ANA7
&
CERTIFICATE FROM T$E ORGANI.ATION
0his is to 8ertif9 that the pro:e8t entitled ;Ptentia/ f Life Insurance Industr-
in Gur#an is a bonafide work of Lokesh kumar 8handelia5 a student of
sk9lark s8hool of business / te8hnolog96SS.0751urgaon and was su88essfull9
8ondu8ted at5 MetLife India Insurance C! Ltd" Gur#an5 from 4+
st
mar8h to
4+
st
ma954'&& for the fulfillment of the 8ourse !aster of .usiness !anagement
6!.A7 of !ahershi da9anand uni<ersit95"ohtak%
!r% 1aura< Na99er5
Sales !anager
!etLife India Insuran8e #o% Ltd5
1urgaon%
4
CERTIFICATE 'Y T$E GUIDE
0his is to 8ertif9 that the pro:e8t work entitled ;Ptentia/ f Life Insurance
Industr- in Gur#an is a pie8e of work done b9 L0es1 0u+ar c1ande/ia5
student of Sk9lark S8hool of .usiness / 0e8hnolog95 under m9 guidan8e and
super<ision for the fulfillment of the 8ourse !.A5 Sk9lark S8hool of .usiness
/ 0e8hnolog951urgaon
0o the best of m9 knowledge and belief the pro:e8t embodies the work of the
8andidate himself and has been dul9 8ompleted% Simultaneousl95 the pro:e8t
fulfills the requirements of the rules and regulations related to the internship of
the institute and I am assured that the pro:e8t is up= to the standard both in
respe8t to the 8ontents and language for being referred to the e>aminer%
I wish him all success in life
Name :
$esignation :
?ualifi8ations :
)
STUDENTS DECLERATION
I hearb9 de8lare that the 0raining "eport 8ondu8ted at
!E0LI-E IN$IA INSU"AN#E #O!2AN, L0$%51U"1AON
Under the guidan8e of
6fa8ult97
Submitted in partial fulfillment of the requirements for the degree of
!AS0E" O- .USINESS A$!INIS0"A0ION
6Industr9 Integrated7
0O
!AE"SI $A,ANAN$ UNI3E"SI0,5"O0AK
Is m9 original work and the same has not been submitted for the award of an9
other degree@diploma@fellowship or other similar titles or priAes%

LO&ES$ &UMAR C$ANDELIA
2la8e : "egn% No%:&'()*'&*+'
$ate :
B
AC&NO2LEDGEMENT
I am thankful to MetLife India Insurance Co. Ltd. for pro<iding me an
opportunit9 to undertake training in their esteemed organiAation% I would like to
spe8ial thanks to m9 pro:e8t manager Mr! Gaura3 Na--er" Sa/es Mana#er at
MetLife India Insurance Co. Ltd, Gurgaon5 who helped me throughout the
pro:e8t and also en8ouraged me to take this pro:e8t in future 8ourse for m9
8areer%
I am also thankful to dire8tor Mr! of Sk9lark S8hool of business /
te8hnolog95gurgaon5Miss! 6fa8ult9 members75 NIAM4s training offi8er in
8harge Mr! for pro<iding me guidan8e in preparing m9 pro:e8t report%
Last but not the least I am also thankful to all m9 friends58olleagues / the staff
members of MetLife India Insurance Co. Ltd to make m9 pro:e8t su88essful%
LO&ES$ &UMAR C$ANDELIA
+
CONTENTS
PARTICULARS
INTRODUCTION
Introdu8tion of the Industr9
Life Insuran8e
1eneral Insuran8e
!a:or 2oli89 8hanges
#hanging -a8e of Indian Insuran8e Industr9
3arious t9pes of Life Insuran8e 2oli8ies
PROFILE OF T$E ORGANISATION
#ompan9 2rofile
!etLife In8%
3alues
Insuran8e 2lans@2rodu8ts
DISCUSSION ON TRAINING
Cork profile
0ools and te8hniques%
Ke9 learnings
STUDY OF SELECTED RESEARC$ PRO'LEM
Ob:e8ti<e
S8ope of stud9
Sampling !ethodolog9
Limitations
ANALYSIS
1raph Anal9sis / $ata Interpretation
Summar9 of -indings
SUMMARY AND CONCLUSIONS
Summar9 of learning E>perien8e%
#on8lusion
APPENDICES
?uestionnaires
'I'LIOGRAP$Y
D
LIST OF GRAP$S
Particu/ars Pa#e N!
E-ig &F No of 2eople a<ing Insuran8e
E-ig 4F 09pes of Insuran8e 2oli89 "espondents a<e
E-ig )F 2referan8e of "espondents of Insuran8e #oGs
E-ig BF .enefits of Insuran8e 2er8ei<ed b9 "espondents
E-ig +F -eatures of Insuran8e 2oli89 0hat Attra8ted "espondents
E-ig DF 2eoples 2er8eption About Insuran8e
E-ig (F 2ersons a<ing Insuran8e -or
E-ig HF "easons .ehind 0aking Insuran8e 2oli8ies
E-ig *F Satisfa8tion of "espondents Cith "espe8t to 2oli8ies
E-ig &'F Satisfa8tion of "espondents Cith "espe8t to Agents
E-ig &&F No of "espondents 2a9ing 0a>
E-ig &4F "espondents 2er8eption About .est -orm of In<estment
E-ig &)F 2eopleGs 2er8eption of Appropriate Age -or .u9ing Insuran8e
E-ig &BF 2eoples Opinion About Insuran8e #ompanies in India
E-ig &+F Chat 2eople Look -or in Insuran8e #ompanies
E-ig &DF 2eople Interested In 1oing -or Insuran8e Awa9 -rom 0heir #it9
E-ig &(F 2eople 2lanning -or New In<estment
(
INTRODUCTION
Introdu8tion of the Industr9
Introdu8tion of the #ompan9
#ompan9 2rofile
A8hie<ements
!anagement
Insuran8e 2lans
H
T$E $ISTORY OF INDIAN INSURANCE INDUSTRY
0he stor9 of insuran8e is probabl9 as old as the stor9 of mankind% 0he same instin8t that
prompts modern businessmen toda9 to se8ure themsel<es against loss and disaster e>isted in
primiti<e men also% 0he9 too sought to a<ert the e<il 8onsequen8es of fire and flood and loss
of life and were willing to make some sort of sa8rifi8e in order to a8hie<e se8urit9% 0hough
the 8on8ept of insuran8e is largel9 a de<elopment of the re8ent past5 parti8ularl9 after the
industrial era I past few 8enturies I 9et its beginnings date ba8k almost D''' 9ears%
Life Insurance
In &H&H the .ritish established the first insuran8e 8ompan9 in India in #al8utta5 the Oriental
Life Insuran8e #ompan9% -irst attempts at regulation of the industr9 were made with the
introdu8tion of the Indian Life Assuran8e #ompanies A8t in &*&4% A number of amendments
to this A8t were made until the Insuran8e A8t was drawn up in &*)H% Noteworth9 features in
the A8t were the power gi<en to the 1o<ernment to 8olle8t statisti8al information about the
insured and the high le<el of prote8tion the A8t ga<e to the publi8 through regulation and
8ontrol% Chen the A8t was 8hanged in &*+'5 this meant far rea8hing 8hanges in the industr9%
0he e>tra requirements in8luded a statutor9 requirement of a 8ertain le<el of equit9 8apital5 a
8eiling on share holdings in su8h 8ompanies to pre<ent dominant 8ontrol 6to prote8t the
publi8 from an9 ad<ersarial poli8ies from one single part975 stri8ter 8ontrol on in<estments
and5 generall95 mu8h tighter 8ontrol% In &*+D5 the market 8ontained &+B Indian and &D foreign
life insuran8e 8ompanies% .usiness was hea<il9 8on8entrated in urban areas and targeted the
higher e8helons of so8iet9% ;Unethi8al pra8ti8es adopted b9 some of the pla9ers against the
interests of the 8onsumersJ then led the Indian go<ernment to nationaliAe the industr9% In
September &*+D5 nationaliAation was 8ompleted5 merging all these 8ompanies into the so=
8alled Life Insuran8e #orporation 6LI#7% It was felt that ;nationaliAation has lent the industr9
fairness5 solidit95 growth and rea8h%J
S+e f t1e i+5rtant +i/estnes in t1e /ife insurance ,usiness in India are6
787*6 0he Indian Life Assuran8e #ompanies A8t ena8ted as the first statute to regulate the
life insuran8e business%
78*96 0he Indian Insuran8e #ompanies A8t ena8ted to enable the go<ernment to 8olle8t
statisti8al information about both life and non=life insuran8e businesses%
78:96 Earlier legislation 8onsolidated and amended to b9 the Insuran8e A8t with the ob:e8ti<e
of prote8ting the interests of the insuring publi8%
78;<6 0he market 8ontained &+B Indian and &D foreign life insuran8e 8ompanies%
*
Genera/ Insurance
0he 1eneral insuran8e business in India started with the establishment of Triton Insurance
Company Limited in &H+' at #al8utta% In &*'(5 the first 8ompan95 The Mercantile
Insurance Ltd% was set up to transa8t all 8lasses of general insuran8e business% 1eneral
Insuran8e #oun8il5 a wing of the Insuran8e Asso8iation of India in &*+(5 framed a 8ode of
8ondu8t for ensuring fair 8ondu8t and sound business pra8ti8es% In &*DH the Insuran8e A8t
was amended to regulate in<estments and to set minimum sol<en89 margins% In the same 9ear
the Tariff Advisory Committee was also set up% In &*(45 The General Insurance Business
(Nationalization Act was passed to nationaliAe the general insuran8e business in India with
effe8t from &st Kanuar9 &*()% -or these &'( insurers was amalgamated and grouped into four
8ompan9Gs <iA%5 the National Insurance Company Ltd%5 the New India Assurance Company
Ltd%5 the !riental Insurance Company Ltd%5 and the "nited India Insurance Company Ltd%
General Insurance Corporation of India was in8orporated as a 8ompan9
S+e f t1e i+5rtant +i/estnes in t1e #enera/ insurance ,usiness in India are6
78=>6 T1e Indian Mercanti/e Insurance Ltd% set up5 the first 8ompan9 to transa8t all 8lasses
of general insuran8e business%
78;>6 Genera/ Insurance Cunci/5 a wing of the Insuran8e Asso8iation of India5 frames a
8ode of 8ondu8t for ensuring fair 8ondu8t and sound business pra8ti8es%
78<96 0he Insuran8e A8t amended to regulate in<estments and set minimum sol<en89
margins and the 0ariff Ad<isor9 #ommittee set up%
78>*6 0he 1eneral Insuran8e .usiness 6NationaliAation7 A8t5 &*(4 nationaliAe the general
insuran8e business in India with effe8t from &st Kanuar9 &*()% &'( insurers amalgamated and
grouped into four 8ompanies <iA% t1e Natina/ Insurance C+5an- Ltd!" t1e Ne? India
Assurance C+5an- Ltd!" t1e Orienta/ Insurance C+5an- Ltd! and t1e United India
Insurance C+5an- Ltd% 1I# in8orporated as a 8ompan9%
&'
MA@OR POLICY C$ANGES
Insuran8e se8tor has been opened up for 8ompetition from Indian pri<ate insuran8e
8ompanies with the ena8tment of Insuran8e "egulator9 and $e<elopment Authorit9 A8t5 &***
6I"$A A8t7% As per the pro<isions of I"$A A8t5 &***5 Insuran8e "egulator9 and
$e<elopment Authorit9 6I"$A7 was established on &*th April 4''' to prote8t the interests of
holder of insuran8e poli89 and to regulate5 promote and ensure orderl9 growth of the
insuran8e industr9% I"$A A8t &*** pa<ed the wa9 for the entr9 of pri<ate pla9ers into the
insuran8e market whi8h was hitherto the e>8lusi<e pri<ilege of publi8 se8tor insuran8e
8ompanies@ 8orporations% Under the new dispensation Indian insuran8e 8ompanies in pri<ate
se8tor were permitted to operate in India with the following 8onditions:
#ompan9 is formed and registered under the #ompanies A8t5 &*+DL
0he aggregate holdings of equit9 shares b9 a foreign 8ompan95 either b9 itself or through its
subsidiar9 8ompanies or its nominees5 do not e>8eed 4DM5 paid up equit9 8apital of su8h
Indian insuran8e 8ompan9L
0he 8ompan9Ns sole purpose is to 8arr9 on life insuran8e business or general insuran8e
business or reinsuran8e business%
0he minimum paid up equit9 8apital for life or general insuran8e business is "s%&''8rores%
0he minimum paid up equit9 8apital for 8arr9ing on reinsuran8e business has been
pres8ribed as "s%4''8rores%
0he Authorit9 has notified 4( "egulations on <arious issues whi8h in8lude "egistration of
Insurers5 "egulation on insuran8e agents5 Sol<en89 !argin5 "e=insuran8e5 Obligation of
Insurers to "ural and So8ial se8tor5 In<estment and A88ounting 2ro8edure5 2rote8tion of
poli89 holdersN interest et8% Appli8ations were in<ited b9 the Authorit9 with effe8t from &+th
August5 4''' for issue of the #ertifi8ate of "egistration to both life and non=life insurers% 0he
Authorit9 has its ead ?uarter at 9derabad%
&&
C1an#in# face f Indian insurance industr-6
Indian life=insuran8e market is the target market of all the 8ompanies who either want to
e>tend or di<ersif9 their business% 0o tap the Indian market there has been tie=ups between the
ma:or Indian 8ompanies with other International insuran8e 8ompanies to start up their
business% 0he go<ernment of India has set up rules that no foreign insuran8e 8ompan9 8an set
up their business indi<iduall9 here and the9 ha<e to tie up with an Indian 8ompan9 and this
foreign insuran8e 8ompan9 8an ha<e an in<estment of onl9 4BM of the total start=up
in<estment%
Indian insuran8e industr9 8an be featured b9:
Low market penetration%
E<er growing middle 8lass 8omponent in population%
1rowth of 8ustomerGs interest with an in8reasing demand for better insuran8e
produ8ts%
Appli8ation of information te8hnolog9 for business%
"ebate from go<ernment in the form of ta> in8enti<es to be insured%
0oda95 the Indian life insuran8e industr9 has a doAen pri<ate pla9ers5 ea8h of
whi8h are making strides in raising awareness le<els5 introdu8ing inno<ati<e produ8ts and
in8reasing the penetration of life insuran8e in the <astl9 underinsured 8ountr9% Se<eral of
pri<ate insurers ha<e introdu8ed attra8ti<e produ8ts to meet the needs of their target
8ustomers and in line with their business ob:e8ti<es% 0he su88ess of their effort is that the9
ha<e 8aptured o<er 4HM of premium in8ome in fi<e 9ears%
0he biggest benefi8iar9 of the 8ompetition among life insurers has been the
8ustomer% A wide range of produ8ts5 8ustomer fo8used ser<i8e and professional ad<i8e has
be8ome the mainsta9 of the industr95 and the Indian 8ustomerGs forms the pi<ot of ea8h
8ompan9Gs strateg9% 2enetration of life insuran8e is beginning to 8ut a8ross so8io=e8onomi8
8lasses and attra8t people who ha<e ne<er pur8hased insuran8e before%
Life insuran8e is also now being regarded as a <ersatile finan8ial planning tool%
Apart from the traditional term and sa<ing insuran8e poli8ies5 industr9 has seen the entr9 and
growth of unit linked produ8ts% 0his pro<ides market linked returns and is among the most
fle>ible poli8ies a<ailable toda9 for in<estment% Now produ8ts are pri8ed5 fle>ible5 and
realisti8 and sustain so people in better position to understand the risk and benefits of the
produ8t and the9 are a88epting these inno<ati<e produ8ts%
&4
So it is 8lear that the fa8e of life insuran8e in India is 8hanging5 but with the
8hanges 8ome a host of 8hallenges and it is onl9 the 8redible pla9ers with a long term <ision
and a robust business strateg9 that will sur<i<e% Chate<er the de<elopments5 the future and
the opportunities in this industr9 will surel9 be e>8iting%
%arius t-5es f /ife insurance 5/icies6A
End?+ent 5/icies6 0his t9pe of poli89 8o<ers risk for a spe8ified period5 and at
the end of the maturit9 sum assured is paid ba8k to poli89holder with the bonuses
during the term of the poli89%
Mne- ,ac0 5/icies6 0his t9pe of poli89 is for periodi8 pa9ments of partial sur<i<al
benefits during the term of the poli89 as long as the poli89 holder is ali<e%
Gru5 insurance6 0his t9pe of insuran8e offers life insuran8e prote8tion under
group poli8ies to <arious groups su8h as emplo9ers=emplo9ees5 professionals5 8o=
operati<es et8 it also pro<ides insuran8e 8o<erage for people in 8ertain appro<ed
o88upations at the lowest possible premium 8ost%
Ter+ /ife insurance 5/icies6 0his t9pe of insuran8e 8o<ers risk onl9 during the
sele8ted term period% If the poli89 holder sur<i<es the term5 risk 8o<er 8omes to an
end% 0hese t9pes of poli8ies are for those people who are unable to pa9 larger
premium required for endowment and whole life poli8ies% No surrender5 loan or paid
up <alues are in su8h poli8ies%
21/e /ife insurance 5/icies6 0his t9pe of poli89 runs as long as the poli89holder is
ali<e and is 8o<ered for the entire life of the poli89holder% In this poli89 the insured
amount and the bonus is pa9able onl9 to nominee on the death of poli89 holder%
@int /ife insurance 5/icies6 0hese poli8ies are similar to endowment poli8ies in
maturit9 benefits and risk 8o<er5 but :oint life poli8ies 8o<er two li<es simultaneousl9
su8h as married 8ouples% Sum assured is pa9able on the first death and again on the
death of sur<i<al during the term of the poli89%
Pensin 5/an6 a pension plan or annuit9 is an in<estment o<er a 8ertain number of
9ears but does not pro<ide an9 life insuran8e 8o<er% It offers a guaranteed in8ome
either for a life or 8ertain period%
Unit /in0ed insurance 5/an6 ULI2 is a kind of insuran8e plan whi8h pro<ides life
8o<er as well as return on premium paid o<er a 8ertain period of time% 0he in<estment
is denoted as units and represented b9 the <alue 8alled as net asset <alue 6NA37%
&)
PROFILE OF T$E
ORGANISATION
&B
COMPANY PROFILE
!etLife India Insuran8e #ompan9 Limited 6!etLife7 is an affiliate of !etLife5 In8% and was
in8orporated as a :oint <enture between !etLife International oldings5 In8%5 0he Kammu and
Kashmir .ank5 !% 2allon:i and #o% 2ri<ate Limited and other pri<ate in<estors% !etLife is
one of the fastest growing life insuran8e 8ompanies in the 8ountr9% It ser<es its 8ustomers b9
offering a range of inno<ati<e produ8ts to indi<iduals and group 8ustomers at more than D''
lo8ations through its bank partners and 8ompan9=owned offi8es% !etLife has more than
+'5''' -inan8ial Ad<isors5 who help 8ustomers a8hie<e pea8e of mind a8ross the length and
breadth of the 8ountr9%
!etLife5 In8%5 through its affiliates5 rea8hes more than (' million 8ustomers in the Ameri8as5
Asia 2a8ifi8 and Europe% Affiliated 8ompanies5 outside of India5 in8lude the number one life
insurer in the United States 6based on life insuran8e enfor8e75 with o<er &B' 9ears of
e>perien8e and relationships with more than *' of the top one hundred -O"0UNE +''O
8ompanies% 0he !etLife 8ompanies offer life insuran8e5 annuities5 automobile and home
insuran8e5 retail banking and other finan8ial ser<i8es to indi<iduals5 as well as group
insuran8e5 reinsuran8e and retirement and sa<ings produ8ts and ser<i8es to 8orporations and
other institutions%
MetLife Inc.#$
#elebrating &B' 9ears5 !etLife5 In8% is a leading pro<ider of insuran8e and finan8ial ser<i8es
with operations throughout the United States and the Latin Ameri8a5 Europe5 and Asia 2a8ifi8
regions% 0hrough its domesti8 and international subsidiaries and affiliates5 !etLife5 In8%
rea8hes more than (' million 8ustomers around the world and !etLife is the largest life
insurer in the United States 6based on life insuran8e in=for8e7%
&+
0he !etLife 8ompanies offer life insuran8e5 annuities5 auto and home insuran8e5 retail
banking and other finan8ial ser<i8es to indi<iduals5 as well as group insuran8e and retirement
/ sa<ings produ8ts and ser<i8es to 8orporations and other institutions%
FACT S$EET
Funded *==7
Started O5eratin FY *==7A=*
$eadBuarters 'an#a/re" India
2r/d 2ide 2e, Address ???!+et/ife!c!in
Mana#in# Directr RaCes1 Re/an
E+5/-ees ><99
Financia/ Ad3isrs ;<"=>*
'ancassurance TieAU5s ; (@D& 'an0EAFis 'an0ED1ana/a0s1+i
'an0E&arnata0a 'an0E'arc/a-s)
Nu+,er Of Prducts O3er *= 5rducts
Presence T1ru#1 MetLife Offices 78* ffices in 7:7 cities
Presence T1ru#1 'an0 Partners 787= ffices in <9< cities
&D

P#oming into 9our
ownP5performing as a
Leader to be reall9
effe8ti<e and su88essful b9
a8ting and making
de8isions independentl9 to
get results%

ItNs all about 2eople5
!etLifeNs ke9 resour8e%
!etLife will su88eed
be8ause we are winning
from within%
-un8tioning produ8ti<el9 in
teams towards a 8ommon
purposeL realising the
8olle8ti<e power of di<erse
work=groups%

Operating with an intense
dedi8ation to managing
monetar9 resour8es for
strong business results%
#ondu8ting all business
endea<ors with truth5
sin8erit9 and fairness%

#ontinuousl9 8reating and
introdu8ing new and
original ideas and wa9s of
doing things%
PARTNERS
&(
Cr5rate Scia/ Res5nsi,i/it-6A
&H
!etLife has alwa9s been 8ommitted to making a positi<e differen8e in the li<es of the
indi<iduals and 8ommunities% 0oda95 that 8ommitment dri<es <olunteer work and
philanthrop9 a8ross the globe% Corking with non=profit organiAations5 !etLife supports
programs that pro<ide 9oung people with the skills the9 need to su88eed in life and 8reate
opportunities for people of all ages%
!etLifeGs 8ore <alues are personal responsibilit95 people 8ount5 partnership5 integrit9 and
honest95 inno<ation and finan8ial strength% 0hese <alues also shape the responsibilit9 to the
8ommunities where the organiAation 8ondu8ts its business%
PRODUCTS
&*
C1i/d P/an6A
Met '1a3is1-a
!etLife offers N!et .ha<ish9aN = a guaranteed mone9 ba8k plan that pa9s out funds to help to
meet the edu8ation and 8areer milestones of 8hildren% Cith this plan5 the Life Insured is that
of the parent% 0he plan also has inbuilt guaranteed additions to add <alue to the poli89 o<er its
term%
0here are two options to 8hoose from and fi>ed term benefits5 periodi8 additions / terminal
additions are pa9able based on the option that sele8t% 0he poli89 is suitable for parents with
8hildren between the ages '=&4 and parents in the age group of 4'=+' 9ears old%
!et Kunior Endowment
!etLife offers N!et KuniorN= a fle>ible endowment plan that 8ombines sa<ings and se8urit9%
#hildrenNs well=being is our highest priorit9% So !etLife offer a plan whi8h offers both timel9
and effi8ient return on in<estment% All with a guarantee%
Met @unir A Nn Par
On attaining maturit95 the 2erson Insured will re8ei<e the Sum Assured%
Met @unir A Par
On attaining maturit95 the 2erson Insured will re8ei<e the Sum Assured5 the "e<ersionar9 .onus and
the 0erminal .onus5 if an9%
Met Litt/e Star
Chen 8hild is born5 a star is born in famil9% And5 parents would like to pro<ide their star with
all the building blo8ks that 8ould de<elop his or her potential to the fullest% 0his 8ould mean
spe8ial instru8tion sessions for talented 8hildren5 unique training gear for e>8eptional athletes
or qualified training for born singers to pro<ide that e>tra=edge%
0o ensure this5 parents would need an in<estment and prote8tion pa8kage that is e>8lusi<el9
designed to help 9ou plan for finan8ial se8urit95 no matter what un8ertainties life brings%
NMet Litt/e StarG" a Unit=Linked5 regular premium5 8hild insuran8e plan helps parents do :ust
that% It se8ures finan8es for 8hildNs edu8ational needs and ensures that plans go as planned5 no
matter what the 8ir8umstan8es%
H!et Kunior !one9 .a8k
!etLife offers N!et Kunior !one9 .a8kN = a mone9 ba8k plan that 8ombines sa<ings and
se8urit9% #hildNs well=being is our highest priorit9% So !etLife offer a mone9 ba8k plan whi8h
pro<ides guaranteed periodi8 sur<i<al benefits at the end of +5 &' / &+ 9ears5 along with
guaranteed growth of sa<ings%
4'
A plan whi8h offers both timel9 and effi8ient return on in<estment with pa9outs at different
milestones%
Sur<i<al .enefit
At the end of + 9ears 4'M of Sum Assured
At the end of &' 9ears 4'M of Sum Assured
At the end of &+ 9ears 4'M of Sum Assured
Upon sur<i<al to maturit9 B'M of Sum Assured plus total 1uaranteed
Additions
!et !agi8
!etLife offers N!et !agi8N5 a Unit=Linked 6non=medi8al5 regular premium7 life insuran8e
plan 6Non 2ar7%
2arents alwa9s want their little angel to ha<e the best5 in e<er9 sphere of life% ,ou donNt want
9our 8hild to ha<e to 8ompromise% No matter what the 8ir8umstan8es%
!et !agi85 a unique life insuran8e plan5 helps 9ou se8ure the future of 9our lo<ed oneQ
6IN 0IS 2OLI#,5 0E IN3ES0!EN0 "ISK IN IN3ES0!EN0 2O"0-OLIO IS .O"NE ., 0E
2OLI#, OL$E" 7
Retire+ent6A
4&
Met Gr?t1
!etLife offers N!et 1rowthN = a Unit=Linked solution to help in golden 9ears% It is spe8iall9
designed to pro<ide finan8ial se8urit9 for future requirements% 0his plan allows to start
planning immediatel9 b9 ensuring the safet9 of first 9ear premiums% It also helps 8reate
retirement fund faster b9 gi<ing 9ou &''M allo8ation from the se8ond 9ear onwards5 8oupled
with attra8ti<e lo9alt9 additions into fund% 1uaranteed%
Entr9 Age 6in 8ompleted 9ears7 !in I ' 9ears 6) months to be 8ompleted7
!a> I D' 9ears
!aturit9 Age !in I &H 9ears
!a> I (+ 9ears
#o<erage 0erm &+ @ 4' @ 4+ @ )' 9ears
2remium 2a9ment 0erm "egular
!inimum AnnualiAed 2remium "s% &45'''
.asi8 Sum Assured !in = + times the AnnualiAed 2remium IIIOther
Sum Assured multiples = &' times / 4' times the
AnnualiAed 2remium%
2remium 2a9ing !odes !onthl95 ?uarterl95 alf=9earl95 ,earl9
'enefit
Deat1 'enefit
In t1e unfrtunate e3ent f deat1" t1e 1i#1er f t1e Su+ Assured r t1e Fund
%a/ue ?u/d ,e 5a-a,/e!
If deat1 f t1e Persn Insured ccurs ,efre a#e >" t1e Fund %a/ue 5/us t1e
re#u/ar 5re+iu+ recei3ed ,- us in t1e first 5/ic- -ear is 5a-a,/e!
Maturit- 'enefit
On +aturit-" -u ?i// recei3e t1e Fund %a/ue inc/udin# t1e Guaranteed L-a/t-
Additin r -u can 5t fr t1e sett/e+ent 5tins!
L-a/t- Additins
Yu #et t1e #uarantee f en1ancin# -ur ?ea/t1 creatin t1ru#1 #uaranteed
/-a/t- additins (u5 t 7*=J f t1e first -ear annua/ 5re+iu+) at t1e end f t1e
7=t1 D 7;t1 -ear 5/us Guaranteed Additins as a J f t1e Fund %a/ue!
44
At t1e end f t1e 7=t1 -ear6 +'M of the first 9ear annualiAed premium
At t1e end f t1e 7;t1 -ear6
Met Ad3anta#e P/us
!etLife offers N!et Ad<antage 2lusN = a Unit=Linked 2ension 2lan that allows to effe8ti<el9
and effi8ientl9 a88umulate retirement needs% As the name suggests5 it 8omes with man9
ad<antages%One 8an 8hoose from eight annuit9 options5 two life 8o<er options and get ta>
benefits under Se8tion H' # and &' 6&' A7% One 8an bu9 the plan without an9 hassles and
in<est more as 9ou approa8h retirement b9 using the top=up fun8tionalit9% All in all5 itGs a plan
whi8h works harder when one stop working% -or one5 it ensures that 9ou lead a 8omfortable
lifest9le post retirement%
Entr- A#e (in c+5/eted -ears)
!in I 4' 9ears
!a> I ++ 9ears
Mini+u+ Ter+
&' 9ears
Mini+u+ %estin# A#e B+ 9ears
MaFi+u+ %estin# A#e D+ 9ears
Mini+u+ Pre+iu+s
Single 2a9: "s% &5''5'''
"egular 2remium: "s% &'5'''
Pre+iu+ Pa-in# Ter+ Single 2a9 / "egular 2a9
'enefits
Deat1 'enefit
In case f deat1 durin# t1e accu+u/atin 5erid" t1e deat1 ,enefit 5a-a,/e is6
Under O5tin A6 A #uaranteed a+unt f 77=J f t1e Fund %a/ue is 5a-a,/e t
t1e n+inee!
Under O5tin '6 7==J f t1e Fund %a/ue is 5a-a,/e t t1e n+inee!
%estin# 'enefit
On t1e 3estin# date" i!e! at t1e end f t1e accu+u/atin ter+"-u can ta0e neA
t1ird f -ur retire+ent 0itt- as a taFAfree /u+5 su+ and uti/iKe t1e ,a/ance t
,u- annuities! Or -u can use t1e entire retire+ent 0itt- t ,u- annuities!
Met PensinAPar
4)
N!et 2ension 62ar7N ser<es as a friendl9 helping hand so one 8an sta9 finan8iall9 independent
e<en after retirement% It helps to build up a fund for golden 9ears%
Cith this plan5one 8an ensure hisRher en:o9 retirement as a happ9 new 8hapter%
Entr- A#e (in c+5/eted -ears)
!in I &H 9ears
!a> I D' 9ears
Mini+u+ Ter+
&' 9ears
Mini+u+ %estin# A#e B+ 9ears
MaFi+u+ %estin# A#e (' 9ears
Mini+u+ Su+ Assured "s% +'5'''
MaFi+u+ Su+ Assured No Limit
Mini+u+ Annua/ Pre+iu+
"s% B''' p%a% for "egular 2a9
Pre+iu+ Pa-+ent Ter+ Single 2a95 Limited 2a9 6) or + 2a97 / "egular 2a9
'enefits
Deat1 'enefit
In case f deat1 ?1i/e ne is sa3in# fr retire+ent" t1e deat1 ,enefit 5a-a,/e is6
7! Return f 5re+iu+s!
*! Accrued re3ersinar- ,nus" if an-!
:! An- insurance n t1e /ife f t1e Insured t1at +a- ,e 5r3ided ,- riders t t1is 5/ic-!
3esting .enefit
On t1e 3estin# date" -u can ta0e ne t1ird f -ur retire+ent 0itt- as a taFAfree /u+5
su+ and uti/iKe t1e ,a/ance t ,u- annuities r -u can use t1e entire retire+ent 0itt- t
,u- annuities! T1e retire+ent fund n t1e date f 3estin# is eBua/ t t1e Su+ Assured
5/us Guaranteed Additins 5/us t1e c+5unded re3ersinar- ,nuses 5/us t1e
ter+ina/ ,nus" if an-!
1uaranteed Additions
4B
Sa3in#s6A
Met Su01
!etLife offers N!et SukhN= a guaranteed mone9=ba8k poli89 whi8h pro<ides guaranteed
periodi8 sur<i<al benefits at the end of +5 &'5 &+ / 4' 9ears and guaranteed additions of &'M
of the Sum Assured for the entire term% It not onl9 8o<ers 9our life5 but also guarantees 9ou
8ash pa9ments at <arious milestones along with guaranteed growth of 9our sa<ings%
Entr9 Age !in = &+ 9ears
!a> = ++ 9ears
#o<erage 0erm 4' 9ears
2remium 2a9ment 0erm "egular
!inimum Sum Assured "s% (+5'''
!a>imum Sum Assured No Limit
'enefits
Deat1 'enefit
In t1e unfrtunate e3ent f deat1 f t1e Persn Insured" t1e Su+ Assured a/n#
?it1 t1e Guaranteed Additins are 5a-a,/e!
T1e 5/ic-1/der is entit/ed t Guaranteed Additins f Rs! 7== 5er Rs! 7"=== f
t1e Su+ Assured fr eac1 c+5/eted -ear!
Maturit- 'enefit
On +aturit-" t1e /ife insured ?i// recei3e t1e Sur3i3a/ 'enefits 5/us t1e
Guaranteed Additin!
Sur3i3a/ 'enefits
4+
At t1e end f ; -ears 4'M of the Sum Assured
At t1e end f 7= -ears 4'M of the Sum Assured
At t1e end f 7; -ears 4'M of the Sum Assured
U5n sur3i3a/ t +aturit- B'M of the Sum Assured plus
0otal 1uaranteed Additions
Met Su3id1a
N!et Su<idhaN is a fle>ible Endowment 2lan that 8ombines sa<ings and se8urit9% In addition to
pro<iding 9ou prote8tion till the maturit9 of the plan5 it helps 9ou sa<e for 9our spe8ifi8 long
term finan8ial ob:e8ti<es% 0his long term sa<ings=8um=prote8tion plan 8omes to a 8ustomer at
affordable premiums%
!et Su<idha is a<ailable in both parti8ipating as well as non=parti8ipating <ersions%
!inimum Entr9 Age 2ar: &+ 9ears = D' 9ears
Non=2ar: &+ 9ears = (' 9ears
0erm 2ar: = &+ 9ears = )' 9ears
Non=2ar: + 9ears = )' 9ears
2remium 2a9ing 0erms Single 2a95 Limited 2a9 6+ or &'7 /
"egular 2a9
!inimum Annual 2remium Amount "s% 45+''
!inimum Sum Assured "s% (+5'''
!a>imum Sum Assured No Limit
Met Sara/
!etLife presents N!et SaralN = a non= parti8ipating endowment plan% As the name suggests5
itGs a simple sa<ings plan whi8h gets 8ustomer into the sa<ings habit without an9 medi8al
tests% All need to do is fill in a simple appli8ation form and are ensured a guaranteed maturit9
amount of "s &''5'''5 e<en in the 8ase of death during the term% 0ake the first step towards a
better finan8ial future for 8ustomer and his famil9% Ensure and insure the first Lakh%
Met 7==
N!et &''N = a whole life poli89 where 8ustomer pa9 premiums for &+5 4' or 4+ 9ears%
It helps 8reate a lega89 for the 8hildren5 lea<ing mone9 for a dependant spouse and5 more
importantl95 pro<ides insuran8e 8o<er at affordable rates%
!et &'' is a<ailable in parti8ipating as well as non= parti8ipating <ersions%
Non=2ar 2ar
4D
!inimum Entr9 Age &+ 9rs ' 9rs
!a>imum Entr9 Age (' 9rs for ppt of &+ 9rs
D+ 9rs for ppt of 4' 9rs
D' 9rs for ppt of 4+ 9rs
(' 9rs for ppt of &+ 9rs
D+ 9rs for ppt of 4' 9rs
D' 9rs for ppt of 4+ 9rs
(' 9rs for life I ppt
2remium 2a9ing 0erms &+5 4'5 4+ 9rs &+5 4'5 4+ 9rs
!inimum Sum Assured "s% +'5''' "s% +'5'''
!a>imum Sum Assured No limit 6sub:e8t to UC7 No limit 6sub:e8t to
UC7
!inimum Annual
2remium
"s% &5''' for issue age of S &+ 9rs
"s% 45+'' for issue age of T U &+
9rs
!et &'' 1old: "s%
45+''
!et &'' 2latinum: "s%
(5+''
4(
Deat1 'enefit
Met 7== A Par
In t1e e3ent f deat1" t1e Su+
Assured 5/us t1e Re3ersinar-
'nus and Ter+ina/ 'nuses"
if an-" are 5a-a,/e!
Met 7== A NnAPar
In the e<ent of death5 the Sum
Assured is pa9able%
Maturit- 'enefit
Met 7== A Par
On maturit9 of the poli895 the
Sum Assured plus the
"e<ersionar9 .onus and
0erminal .onuses5 if an95 are
pa9able%
Met 7== A NnAPar
On maturit9 of the poli895 the
Sum Assured is pa9able
Prtectin6A
Met Sura0s1a
!etLife offers N!et Suraksha = 0erm Assuran8e 60A7N5 a non
parti8ipating term assuran8e plan whi8h pro<ides life 8o<er at a nominal
8ost% 0o put it simpl95 it is a life insuran8e plan that gi<es 8omplete
prote8tion to en:o9 life to the fullest% #ustomer 8an further 8ustomiAe
plan with two riders I A88idental $eath .enefit and #riti8al Illness%
Met Sura0s1a TROP
!etLife offers N!et Suraksha = 0erm with "eturn of 2remium 60"O27N5 a
non parti8ipating term assuran8e plan whi8h pro<ides life 8o<er at a
nominal 8ost% 0o put it simpl95 it is a life insuran8e plan that gi<es
8omplete prote8tion to en:o9 life to the fullest% ,ou 8an further 8ustomiAe
9our plan with two riders I A88idental $eath .enefit and #riti8al Illness%
4H
Met Mrt#a#e Prtectr
0his plan whi8h pro<ides life 8o<er for home loans taken for an9 period
abo<e + 9ears% It is a de8reasing term insuran8e with single and limited
premium options% 0he plan 8o<ers an amount equal to the outstanding
amount as per the poli89 s8hedule%
It ensures the assets that ha<e 8reated sta9s with famil9%
Rura/ 6=
None of us 8an be sure what tomorrow will bring% Shield 9our families
against the unknown% !etLifeGs rural plans prote8t 9our lo<ed ones
against finan8ial liabilities and help 9ou sa<e for tomorrow% All at
affordable premiums
Met %is1?as
N!et 3ishwasN5 A a single premium5 mi8ro insuran8e5 non= parti8ipating
term assuran8e plan whi8h pro<ides life 8o<er at a nominal 8ost% On
sur<i<al5 8ustomers get &&'M or &4+M of the premium%
!inimum Entr9 Age &H 9ears
4*
!a>imum Entr9 Age D' 9ears
!a>imum !aturit9 Age (' 9ears
!inimum Sum Assured "s% +5'''
!a>imum Sum Assured "s% +'5'''
2oli89 0erm + or &' 9ears
2remium 2a9ing 0erms Single 2a9
Met Su3id1aARura/
!et Su<idha 6"ural7 is a parti8ipating fle>ible Endowment 2lan that
8ombines sa<ings and se8urit9% In addition to pro<iding prote8tion up to
maturit95 it helps to sa<e for spe8ifi8 long term finan8ial ob:e8ti<es% 0his
long term sa<ings=8um=prote8tion plan 8omes at affordable premiums%
'enefits6
Met Su3id1a A Par
In t1e e3ent f deat1 durin#
t1e ter+ f t1e 5/ic-" t1e
,eneficiar- ?i// recei3e t1e
,ase Su+ Assured" t1e
accrued re3ersinar- ,nus
and ter+ina/ ,nus if an-!
Maturit- 'enefit
Met Su3id1a A Par
On +aturit- f t1e 5/ic-" -u
?i// recei3e t1e ,ase Su+
Assured" t1e accrued
re3ersinar- ,nus and
ter+ina/ ,nus if an-!
It is an Endowment plan that offers both sa<ings and life
insuran8e%
-le>ible premium pa9ing options to suit <arious in8ome 898les%
A plan whi8h parti8ipates in the bonuses de8lared b9 the
8ompan9%
#ustomiAation possible with A88ident $eath .enefit5 #riti8al
Illness5 0erm5 Cai<er of 2remium "iders for 8omprehensi<e
prote8tion%
)'
In3est+ent6A
!etLifeGs Unit=Linked Insuran8e 2lans ensure s9stemati8 enhan8ement
of wealth% .e it higher returns or the right blend of prote8tion and wealth
optimiAation5 the9 help to ensure the right 8hoi8e and pea8e of mind%
6IN 0ESE 2OLI#,5 0E IN3ES0!EN0 "ISK IN IN3ES0!EN0
2O"0-OLIO IS .O"NE ., 0E 2OLI#, OL$E" 7
)&
Met Eas-
A simplified unit=linked plan whi8h offers an opportunit9 to
s9stemati8all9 build wealth and prote8tion for 9ou and 9our famil9%
60he ma>imum Sum Assured a<ailable in this produ8t is based on age5 at
the time of bu9ing the poli89%7
'enefitsA
Deat1 'enefit
In t1e e3ent f
deat16
In the &st 2oli89
,ear6 $i#1er f
;=J f t1e Su+
Assured r t1e
Fund %a/ue is
5a-a,/e!
After the &st
2oli89 ,ear6
$i#1er f 7==J
f t1e Su+
Assured r Fund
%a/ue! If deat1 f
t1e Persn
Insured ccurs
,efre a#e >" t1e
Fund %a/ue 5/us
t1e Re#u/ar
Pre+iu+ recei3ed
,- us in t1e first
5/ic- -ear is
5a-a,/e!
Maturit- 'enefit
On maturit95 9ou
will re8ei<e the
-und 3alue
in8luding the
Lo9alt9 Addition
or 9ou 8an opt for
the settlement
options%
L-a/t- Additins
Cith !et Eas95
)4
7= -ears 7; -ears *= -ears
Mini+u+ A#e at
Entr-
H ) ' 6) months to be
8ompleted7
MaFi+u+ A#e at
Entr-
++ +' +'
Mini+u+
Pre+iu+
4'5''' &+5''' &45'''
MaFi+u+
Pre+iu+
D5''5''' B5''5''' )5''5'''
Su+ Assured + times the annualiAed
regular premium
(%+ times the annualiAed
regular premium
&' times the
annualiAed regular
premium
Pre+iu+
5a-+ent +des
,earl95 alf=9earl95
?uarterl95 !onthl9
,earl95 alf=9earl95
?uarterl95 !onthl9
,earl95 alf=9earl95
?uarterl95 !onthl9
9ou get the benefit
of potentiall9
enhan8ing 9our
wealth 8reation
with lo9alt9
additions that are
added to 9our
poli89 on maturit9!
Met S+art G/d
!etLife offers N!et Smart 1oldN= a Unit=Linked wealth 8reation 8um
prote8tion plan for the well=heeled% ItNs spe8iall9 8on8ei<ed so that one
8an get a plan to mat8h his spe8ifi8 finan8ial requirements%
If 9ou are keen on in<esting lump sum amounts o<er a shorter horiAon5
this is the ideal plan for 9ou%
Met S+art P/usARe#u/ar Pa-
N!et Smart 2lusN I a Unit=Linked Chole life plan that matures at age
&''% If 9ou want to prote8t 9our famil9 from lifeGs un8ertaintiesL at the
same time5 9ou wish insuran8e would 9ield higher returns on 9our
in<estments% ,ou want 9our insuran8e poli89 to help realiAe all 9our
dreams% ItGs a right plan to go with%
Entr9 Age 6in 8ompleted 9ears7 !in I ' 9ears 6) months to be 8ompleted7
!a> I (' 9ears
!aturit9 Age &'' 9ears
2remium 2a9ment 0erm "egular
!inimum AnnualiAed 2remium "s% &45'''
!inimum .asi8 Sum Assured "s% D'5'''
2remium 2a9ment !odes !onthl95 ?uarterl95 alf=9earl95 ,earl9
Met S+art P/usA Sin#/e Pa-
Same as !et Smart 2lus "egular but premium is pa9able in a single term
or at the time of poli89 taken%
))
Met S+art Pre+ierA Re#u/ar Pa-
!etLife offers N!et Smart 2remierN I a Unit=Linked Chole life plan that
matures at age &''% ,ou want to prote8t 9our famil9 from lifeGs
un8ertaintiesL at the same time5 9ou wish insuran8e would 9ield higher
returns on 9our in<estments% ,ou want 9our insuran8e poli89 to help
realiAe all 9our dreams%
Met S+art Pre+ierA Sin#/e Pa-
2a9able lump sum at the time of poli89 taken%
$ea/t16A
Met $ea/t1 Care
UIN no: &&(N'BH3'&
ealth problems strike une>pe8tedl9% In addition to 8ausing ill health5 it
8an also s8ar finan8ial health% One need to prote8t himself against su8h a
situation through a health insuran8e plan% In order to ensure 9ou are well
prote8ted to fa8e an9 health 8ondition that 8ould befall 9ou5 !etLife
presents = !et ealth #are5 a simple health insuran8e poli89 with unique
and smart ad<antages for 9ou and 9our famil9V%
6V -amil9 means spouse and two 8hildren% E<er9 additional famil9
member shall be underwritten as per the underwriting 8onditions laid b9
the #ompan9 from time to time%7
!et ealth #are is a long term health insuran8e plan from !etLife% 0his
plan 8o<ers
&% ospitaliAation e>penses b9 pro<iding a $ail9 #ash benefit as 8hosen
b9 9ou%
4% &' ma:or #riti8al Illnesses b9 pro<iding a lump sum benefit%
)% 0otal / 2ermanent $isabilit9 due to a88ident b9 pro<iding a lump
sum benefit%
All the abo<e benefits 8an be a<ailed without the hassle of undergoing
an9 medi8al e>amination% Kust fill up the simple appli8ation form and
start en:o9ing the unmat8hed benefits of !et ealth #are%
)B
Mini+u+EMaFi+u+ a#e f
entr-
&H 9ears=++ 9ears 6At first entr95 for the 2rin8ipal insured7
) months=++ 9ears 6-or Se8ondar9 Insured li<es7
C3er ceasin# a#e D+ 9ears
Maturit-EDeat1 'enefit No !aturit9@$eath .enefit pa9able
'enefits Offered 6a7 $ail9 ospitalisation #ash .enefit
6b7 $ail9 I#U #ash .enefit
687 "e8uperation .enefit
6d7 #riti8al Illness .enefit
6e7 A88idental 0otal / 2ermanent $isabilit9
.enefit
Pre+iu+ 5a-in# freBuenc- ,earl9% alf=,earl9 mode is a<aiable onl9 if ea8h of the
persons insured 8hoose a dail9 8ash benefit of "s% )''' or
more%
I//ustratin
'enefit O5tin 7 O5tin * O5tin : O5tin L O5tin ;
Dai/-
$s5ita/isatin
Cas1 'enefit
"s% &''' per
da9
"s% 4''' per
da9
"s% )''' per
da9
"s% B''' per
da9
"s% +''' per
da9
Dai/- ICU Cas1
'enefit
"s% 4''' per
da9
"s% B''' per
da9
"s% D''' per
da9
"s% D''' per
da9
"s% D''' per
da9
Recu5eratin
'enefit
"s% )''' "s% D''' "s% *''' "s% &'''' "s% &''''
Critica/ I//ness
'enefit
"s% & Lakh "s% 4 Lakh "s% ) Lakh "s% ) Lakh "s% ) Lakh
Accidenta/ Tta/ D
Per+anent
Disa,i/it- 'enefit
"s% & Lakh "s% 4 Lakh "s% ) Lakh "s% ) Lakh "s% ) Lakh
'enefits
Deat1EMaturit- 'enefit
)+
T1ere is n Deat1EMaturit- 'enefit under Met $ea/t1 Care!
TaF 'enefits
T1e 5re+iu+ 5aid (eFc/udin# t1e ser3ice taF) under t1is 5/an is e/i#i,/e fr TaF
'enefits under Sectin 9= D f t1e Inc+e TaF Act" 78<7 as 5er t1e 5r3isins and
cnditins #i3en t1erein and are su,Cect t an- c1an#es +ade in t1e taF /a?s in
future!
Reasns t 'u-
&% #o<erage for the entire famil9%
4% No #laim $is8ounts%
)% 1uaranteed #o<erW till age D+%
B% 2a9outs in addition to other Insuran8e 2lans%
+% !ultiple #laims%
DISCUSSION
ON TRAINING
2r0 5rfi/e
)D
T/s and
tec1niBues
&e- /earnin#s
STUDY OF T$E
SELECTED
RESEARC$
PRO'LEM
)(
Ob:e8ti<e
S8ope of stud9
Sampling methodolog9
Limitations
RESEARC$ MET$ODOLOGY
TITLE6
0o Stud9 ;2otential of Life Insuran8e Industr9 in 1urgaonJ%
TITLE @USTIFICATION:
0he abo<e title is self e>planator9% 0he stud9 deals mainl9 with stud9ing
the bu9ing pattern in the insuran8e industr9 with a spe8ial fo8us on
MetLife India Insurance Co. Ltd% 0he <arious segments of the markets
di<ided in terms of Insuran8e Needs5 Age groups5 Satisfa8tion le<els et8
will also studied%
O'@ECTI%E
)H
!ain ob:e8ti<e of the resear8h is to ha<e an anal9sis of life insuran8e
industr9 in 1urgaon% 0o a88omplish this ob:e8ti<e it has been di<ided
into fi<e%
0o determine reasons behind opting for an insuran8e%
0o know the most preferred poli89%
0o determine 8ustomers per8eption towards pri<ate insuran8e
8ompanies and their e>pe8tation form pri<ate insuran8e
8ompanies%
0o determine the feedba8k on ser<i8es pro<ided b9 an insuran8e
agent%
0o stud9 the t9pes of benefits pro<ided b9 insuran8e ser<i8es%
SCOPE OF T$E STUDY
A big boom has been witnessed in Insuran8e Industr9 in re8ent times% A
large number of new pla9ers ha<e entered the market and are tr9ing to
gain market share in this rapidl9 impro<ing market% 0he stud9 deals with
relian8e in fo8us and the <arious segments that it 8aters to% 0he stud9
then goes on to e<aluate and anal9Ae the findings so as to present a 8lear
pi8ture of trends in the Insuran8e se8tor%
SIGNIFICANCE TO T$E INDUSTRY6
0his is a limited stud9 whi8h takes into 8onsideration the responses of
&'' people% 0his data 8an be e>plorated to take in the trends a8ross the
industr9% 0he signifi8an8e for the industr9 lies in stud9ing these trends
that emerge from the stud9% It is a rapidl9 8hanging and e<ol<ing se8tor%
2eople are onl9 beginning to wake up to its <ast possibilities% A stud9
)*
like this 8an attempt to guide the future of the industr9 based on 8urrent
trends%
SIGNIFICANE FOR T$E RESEARC$ER6
0o fa8ilitate and pro<ide useful information for the stud9 of the 8ompan9
and the insuran8e industr9 and also pro<ide re8ommendations for
MetLife India Insurance Co. Ltd
RESEARC$ DESIGN
NONAPRO'A'ILITY
EMPLORATORY D DISCRIPTI%E EMPERIMENTAL
RESEARC$
0he resear8h is primaril9 both e>plorator9 as well as des8ripti<e in
nature% 0he sour8es of information are both primar9 / se8ondar9%
A well=stru8tured questionnaire was prepared and personal inter<iews
were 8ondu8ted to 8olle8t the 8ustomerGs per8eption and bu9ing
beha<ior5 through this questionnaire%
SAMPLING MET$ODOLOGY
Sa+5/in# Tec1niBue6
Initiall95 a rough draft was prepared keeping in mind the ob:e8ti<e of the
resear8h% A pilot stud9 was done in order to know the a88ura89 of the
?uestionnaire% 0he final ?uestionnaire was arri<ed onl9 after 8ertain
important 8hanges were done% 0hus m9 sampling 8ame out to be
:udemental and 8on<inent
Sa+5/in# Unit6
B'
0he respondents who were asked to fill out questionnaires are the
sampling units% 0hese 8omprise of emplo9ees of !N#s5 1o<t%
Emplo9ees5 Self Emplo9ed et8%
Sa+5/e siKe6
0he sample siAe was restri8ted to onl9 &''5 whi8h 8omprised of mainl9
peoples from different regions of 1urgaon due to time 8onstraints%
Sa+5/in# Area6
0he area of the resear8h was 1urgaon5 India%
B&
LIMITATIONS OF T$E
RESEARC$
&% 0he resear8h is 8onfined to a 8ertain parts of 1urgaon and does not
ne8essaril9 shows a pattern appli8able to all of #ountr9%
4% Some respondents were relu8tant to di<ulge personal information
whi8h 8an affe8t the <alidit9 of all responses%
)% In a rapidl9 8hanging industr95 anal9sis on one da9 or in one
segment 8an 8hange <er9 qui8kl9% 0he en<ironmental 8hanges are
<ital to be 8onsidered in order to assimilate the findings%
B4
ANALYSIS
Anal9sis of data
Summar9 of findings
B)
DATA ANALYSIS D
INTERPRETATION
NUM'ER OF PEOPLE $A%ING INSURANCE
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
,es (' ('M
No )' )'M
0otal &'' &''M
INTERPRETATION
Of the sample siAe of &'' sur<e9ed respondents ('M of the
respondents are ha<ing Insuran8e poli89%
)'M of the respondents are either not ha<ing an9 Insuran8e poli89 at
present or their poli89 is alread9 matured%
And at present &''M of the respondents are with the <iew that
Insuran8e is a tool to prote8t 9our famil9%
BB
TYPES OF INSURANCE POLICY RESPONDENTS
$A%E
POLICY TYPE NO! OF
RESPONDENTS
S$ARE (J)
LI-E 2OLI#, (+ (+
NON LI-E 2OLI#, 4+ 4+
.O0 B+ B+
INTERPRETATION
(+M of the respondents ha<e onl9 Life Insuran8e 2oli89%
Chile B+M of the respondents ha<e both!
4+M of the respondents ha<e onl9 Non= life 2oli89%
NSome of the respondents opted for two or more than two itemsF
B+
PREFERENCE OF RESPONDENTS OF INSURANCE
COMPANIES
COMPANY4S NAME
NO!OF
RESPONDENT
S$ARE (J)
L%I%#% (B (B
"elian8e Life Insuran8e ) )
!etlife India Ins% #o%Ltd 4 4
.a:a: AllianAe ) )
I#I#I 2rudential * *
S.I Life ( (
!a> New ,ork Life 4 4
0O0AL &'' &''
INTERPRETATION
(BM of the people 8onta8ted prefer LI# poli89 to an9 other and
therefore it is ranked no%& b9 that per8ent of respondents%
BD
'ENEFITS OF INSURANCE PERCEI%ED 'Y RESPONDENTS
'ENEFITS
NO!OF
RESPONDENTS
S$ARE (J)
#o<er -uture Un8ertaint9 ++ ++
0a> $edu8tions 4' 4'
-uture In<estment 4+ 4+
0O0AL &'' &''
INTERPRETATION
++M of the respondents belie<e that 8o<ering future un8ertaint9 is
the biggest benefit of an insuran8e poli89%
Chereas5 4'M and 4+M of them belie<e that the other benefits
are 0a> dedu8tion and future in<estments respe8ti<el9%
B(
FEATURES OF INSURANCE POLICY T$AT
ATTRACTED RESPONDENTS
FEATURE NO!OF
RESPONDENTS
S$ARE (J)
!one9 .a8k 1uarantee &+ &+
Larger "isk #o<erage )( )(
Eas9 A88ess to Agents ( (
Low 2remium )' )'
#ompan9Gs "eputation && &&
0O0AL &'' &''
INTERPRETATION
!a:orit9 of the respondent 6)(M7 found larger risk 8o<erage
as the most attra8ted feature of the all%
!inimum respondents 6(M7 opted for eas9 a88ess to agents%
BH
PEOPLE PERCEPTION A'OUT INSURANCE
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
A sa<ing tool H& H&M
A ta> sa<ing de<i8e (B (BM
A tool to prote8t 9our famil9 &'' &''M
INTERPRETATION
H&M of the respondents ha<e per8eption of Insuran8e being a sa<ing
tool%
And (BM of the respondents ha<e per8eption of Insuran8e being a
ta> sa<ing de<i8e%
.ut &''M of the respondents are with the <iew that Insuran8e is a
tool to prote8t 9our famil9%
B*
NSome of the respondents opted for two or more than two itemsF
PERSONS $A%ING INSURANCE FOR
Res5nse N f res5ndents
Self B'
Spouse 4H
#hildren 4&
2arents &H
All &&
INTERPRETATION
Among that B4M people who ha<ing insuran8e5 the9 ha<e insuran8e B'M
for self5 4HMfor spouse 54&M for 8hildren and &HM for their parents and
&&M for all famil9 member%
+'
REASONS 'E$IND TA&ING INSURANCE
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
0a> sa<ing H' H'M
Sa<ing @ In<estment H' H'M
-amil9 prote8tion &'' &''M
INTERPRETATION
H'M of the "espondents opted for Insuran8e for ta> sa<ing benefits
and sa<ing@in<estment both%
.ut all of them5 i%e% &''M of the respondents ha<e opted for
insuran8e for their famil9 prote8tion%
NSome of the respondents opted for two or more than two itemsF
+&
SATISFACTION OF RESPONDENTS 2IT$ RESPECT TO
POLICY
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
Satisfied D' D'M
Not satisfied B' B'M
Not "esponded ' '%'M
0otal &'' &''M
INTERPRETATION
D'M of the respondents are more or less satisfied with their e>isting
poli89%
B'M of the respondents are not satisfied with their e>isting poli89%
In this 8ase all of those who ha<e taken a poli89 ha<e responded%
+4
SATISFACTION OF POSITI%E RESPONDENTS 2IT$
RESPECT TO SER%ICE AGENT
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
Satisfied B+ B+M
Not satisfied ++ ++M
Not "esponded ' '%'M
0otal &'' &''M
INTERPRETATION
B+M of the respondents are satisfied with their e>isting ser<i8e
agent%
++M of the respondents are not satisfied with their e>isting
insuran8e agent%
All of those who ha<e taken a poli89 ha<e responded%
+)
NUM'ER OF RESPONDENTS PAYING TAM
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
2a9ing ta> *& *&M
Not pa9ing ta> * *M
0otal &'' &''M
INTERPRETATION
Of the sample siAe of &'' respondents5 *& respondents are pa9ing
ta>%
+B
RESPONDENTS PERCEPTION A'OUT 'EST FORM OF
IN%ESTMENT FOR SECURING T$EIR FUTURE
NO! OF
RESPONDENTS
S$ARE (J)
-i>ed Assets (+ ))M
.ank deposits && +M
Keweller9 4+ &&M
Se8urities i%e% bonds5 !-s B'% &(M
Shares &' BM
Insuran8e (' )'M
INTERPRETATION
(+M of the respondents are with the <iew that -i>ed Assets is the
best form of in<estment for se8uring their future%
('M of the respondents are with the per8eption that Insuran8e is the
best form of in<estment for se8uring their future5 whi8h is 4nd
highest and this shows that insuran8e is an important ke9 for
se8uring 9our future%
NSome of the respondents opted for two or more than two itemsF
++
PEOPLE4S PERCEPTION ON APPROPRIATE AGE FOR
'UYING INSURANCE
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
After 4+ 9ears 4* 4*M
After )+ 9ears &' &'M
After B+ 9ears ' 'M
An9time D& D&M
INTERPRETATION
4*M of the respondents are with the <iew that insuran8e should be
bought after the age of 4+ 9ears%
&'M of the respondents are with the <iew that insuran8e should be
bu9ed after the age of )+ 9ears%
Chereas5 D&M of the respondents are with the <iew that bu9ing of
insuran8e do not ha<e an9thing to do with age i%e% there is no age
limitations% It 8an be pur8hased an9 time a88ording to the need%
+D
PEOPLE OPINION A'OUT INDIAN INSURANCE
COMPANIES
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
"igid plans D( D(M
Non user friendl9 4* 4*M
Unsatisfa8tor9 ser<i8es 4D 4DM
Non Aggressi<e )+ )+M
Satisfa8tor9 4B 4BM
1ood &' &'M
3er9 good ' 'M
INTERPRETATION
D(M of the respondents ha<e the opinion that Indian Insuran8e
#ompanies ha<e "igid plans%
4*%+M feel that Indian Insuran8e 8ompanies are Non=user friendl9%
+(
4D%+M feel that ser<i8es of Indian Insuran8e 8ompanies are
Unsatisfa8tor9%
)+%(+M of the respondents are with the <iew that Indian Insuran8e
8ompanies are Non=aggressi<e%
4BM of the respondents feel that produ8ts and ser<i8es of Indian
Insuran8e 8ompanies is Satisfa8tor9%
Chereas onl9 &'%4+M feel that it is 1ood enough%
And a88ording to the data5 no single person has felt that it is <er9
good%
NSome of the respondents opted for two or more than two itemsF

2$AT PEOPLE LOO& FOR IN AN INSURANCE
COMPANY
RESPONSE NO! OF S$ARE
+H
RESPONDENTS (J)
A trusted name H4 H4M
-riendl9 ser<i8e /
responsi<eness
(& (&M
1ood plans H& H&M
A88essibilit9 B* B*M
INTERPRETATION
H4M 8ustomers look for a 0rusted name in a 8ompan9 for insuran8e%
H&%+M 8ustomers look for a good plan in a 8ompan9 for insuran8e%
-riendl9 ser<i8e / responsi<eness and A88essibilit9 are also
important fa8tors looked b9 8ustomers in a 8ompan9%
NSome of the respondents opted for two or more than two itemsF
PEOPLE INTERESTED IN GOING FOR INSURANCE IF A
SER%ICE PRO%IDER A2AY FROM T$E CITY OFFERS
'ETTER SER%ICE D PRODUCTS
+*
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
,es B) B)M
No BB BBM
Un8ertain &) &)M
0otal &'' &''M
INTERPRETATION
0he interested 8ustomers i%e% B)M are read9 to go for insuran8e e<en
awa9 from a 8it9 if ser<i8es and produ8ts are worthwhile5 whi8h
again is a good prospe8t 6potential7 for !a> New 9ork Life
Insuran8e to take them on their fa<or%
PEOPLE PLANNING FOR NE2 IN%ESTMENTS
D'
RESPONSE NO! OF
RESPONDENTS
S$ARE (J)
2lanning H(M H(M
Not planning &) &)M
0otal &'' &''M
INTERPRETATION
Onl9 &)M of the 8ustomers 8onta8ted are not planning for new
in<estments presentl9%
Chereas5 H(M of the 8ustomers are still planning for new
in<estments this 8an be a great potential for !etLife India Insuran8e
#o% Ltd to take them on their fa<or%
D&
SUMMARY
AND
CONCLUSIONS
D4
SUMMARY OF LEARNING
EMPERIENCE
In toda9Gs 8orporate and 8ompetiti<e world5 I find that
insuran8e se8tor has the ma>imum growth and potential as
8ompared to the other se8tors% Insuran8e has the ma>imum
growth rate of ('=H'M while as -!#1 se8tor has ma>imum
&4=&+M of growth rate% 0his growth potential attra8ts me to
enter in this se8tor and !E0 LI-E IN$IA INSU"AN#E #O%
L0$% has gi<en me the opportunit9 to work and get e>perien8e
in highl9 8ompetiti<e and enhan8ing se8tor%
0he su88ess stor9 of good market share of different
organiAations depends upon the a<ailabilit9 of the
produ8t and ser<i8es near to the 8ustomer5 whi8h 8an be
distributed through a distribution 8hannel% In Insuran8e
se8tor5 distribution 8hannel in8ludes onl9 agents or
agen89 holders of the 8ompan9% If a 8ompan9 like !E0
LI-E IN$IA INSU"AN#E #O% L0$5 !AX NEC
,O"K LI-E5 .AKAK ALLIANY5 0A0A AI15 et8 has
adequate agents in the market the9 8an 8apture big
market as 8ompared to the other 8ompanies%
Agents are the best wa9 for a 8ompan9 of Insuran8e
se8tor through whi8h poli8ies and benefits of the
8ompan9 8an be e>plained to the 8ustomer%
D)
FINDINGS D RECOMMENDATIONS
7% As the people think that insuran8e is a tool to prote8t their famil9 / a
ta> sa<ing de<i8e% 0he9 are aware of the fa8t / realiAing its5 importan8e%
0here is a large potential for insuran8e in India%
*% 0he entran8e of pri<ate pla9ers will in8rease the 8ompetition and it
would be a tough task to se8ure a good position in market%
:% Sin8e !et Life India Insuran8e is leading with se<eral 8ompaniesG
poli8ies it should be eas9 for them to penetrate into the market and
se8ure a good position if the9 pa9 greater attention to the ser<i8e part
pro<ided to their 8ustomer and thereb9 forming a long and trusted
relationship%
L% As seen from the sur<e9 that at present ('M of the 8ustomer are
ha<ing insuran8e poli89 out of whi8h H(%+M of the 8ustomer are
DB
planning for new in<estments% So it 8an be a good potential for the
8ompan9 and the9 should make an attempt to trap these 8ustomers%
;! As B)M of the 8ustomers are e<en read9 to go for insuran8e if a
ser<i8e pro<ider awa9 from their 8it9 is pro<iding it% .ut in turn the9
should pro<ide good produ8ts and ser<i8es% 0he 8ompan9 should tr9 to
8on<in8e these 8ustomers and get them in its fa<or%
GRO2T$ POTENTIAL
At present life insuran8e penetration in India is quite low I BM of 1$2%
P$ASE OF TRANSITION
Z Life Insuran8e industr9 is under the phase of infan89 after +' 9ears of
monopol9%
Z #ompetition from within and other se8tors of finan8ial market%
Z Needs en<ironmental support till it rea8hes a 8omfort Aone
D+
CONCLUSION
0he e>hausti<e resear8h in the field of Life Insuran8e threw up some
interesting trends whi8h 8an be seen in the abo<e anal9sis% A general
impression that I gathered during $ata 8olle8tion was the immense
awareness and knowledge among people about <arious 8ompanies and
their insuran8e produ8ts% 2eople are beginning to look be9ond LI# for
their insuran8e needs and are willing to trust pri<ate pla9ers with their
hard earned mone9%
DD
2eople in general ha<e been impressed b9 the marketing and ad<ertising
8ampaigns of insuran8e 8ompanies% A high penetration of print5 radio and
0ele<ision Ad 8ampaigns o<er the 9ears is beginning to ha<e itGs impa8t
now%
Another heartening trend was in terms of people <iewing insuran8e as a
ta> sa<ing and in<estment instrument as mu8h as a prote8ti<e one% A <er9
high number of respondents ha<e opted for insuran8e for su8h purposes
and it shows how insuran8e 8ompanies ha<e been su88essful to attra8t
publi8 mone9 in re8ent times%
0he general satisfa8tion le<els among publi8 with regards to poli89 and
agents still requires impro<ement% .ut therein lies the opportunit9 for a
relati<e pla9er like MetLife India Insurance C! Ltd! LI# has ne<er
been known for prompt ser<i8e or 8ustomer oriented methods and
!etLife India Insuran8e #o. 8an build on these fa8tors%
D(
APPENDICES
ANNEX0U"E
DH
OUESTIONNAIRE
NAME:[[[[[[[[[[[[[[[[[[[[[[[[[
ADDRESS:[[[[[[[[[[[[[[[[[[[[[[

[[[[[[[[[[[[[[[[[[[[[[[[[[[[[[OCCUPATION6[[[[[[
[[[[[[[[[[[[[
%. ARE YOU EMPLOYED&
,ES NO
'. DO YOU $A%E ANY INSURANCE POLICY&
,ES NO
(. 2$IC$ INSURANCE POLICY DO YOU $A%E&
LI-E NON=LI-E .O0
). 2$IC$ CO4S INSURANCE POLICY YOU
PREFER T$E MOST& 6"ANK0E!7
a7 LI#
b7 I#I#I2"U$EN0IAL
87 S.I LI-E INSU"AN#E
d7 !E0 LI-E IN$IA INSU"AN#E
e7 !AX NEC ,O"K LI-E INSU"AN#E
f7 .AKAK ALLIANYE
g7 "ELIAN#E LI-E INSU"AN#E
h7 AN, O0E" [[[[[[[[6 Spe8if97
*. 2$AT DO YOU T$IN& ARE T$E 'ENEFITS OF
INSURANCE PLAN& 6"ANK 0E!7
a7 #O3E" -U0U"E UN#E"0AINI0,

b7 0AX $E$U#0IONS
87 -U0U"E IN3ES0!EN0
D*

d7 AN, O0E" [[[[[[[[[ 6Spe8if97
+. 2$AT4S YOUR PERCEPTION A'OUT
INSURANCE&
6"ANK 0E!7
a7 A SA3IN1 0OOL
b7 A 0AX SA3IN1 $E3I#E

87 A 0OOL 0O 2"O0E#0 -U0U"E
,. ARE YOU SATISFIED 2IT$ T$E POLICY&
a7 SA0IS-IE$
b7 NO0 SA0IS-IE$

87 NO0 "ES2ON$IN1
-. ARE YOU SATISFIED 2IT$ T$E SER%ICE
AGENT&
a7 SA0IS-IE$
b7 NO0 SA0IS-IE$

87 NO0 "ES2ON$IN1
.. /! 0!" 1A0 TA234&

,ES NO
%5.2$IC$ IS T$E 'EST FORM OF
IN%ESTMENTS&
6"ANK 0E!7
a7 -IXE$ ASSE0S b7 .ANK
$E2OSI0S
('
87 KECELLE", d7 SE#U"I0IES5
i%e% .onds5 !-s
e7 SA"ES f7 INSU"AN#E
%%. . 2$AT DO YOU INTENT TO GAIN FROM
IN%ESTMENTSP
a7 SA3IN1 / "E0U"NS b7 SE#U"I0,

87 0AX .ENI-I0S
%'.2$AT4S T$E RIG$T AGE TO 'UY
INSURANCE&
a7 A-0E" 4+ ,rs b7 A-0E" )+ ,rs

87 A-0E" B+ ,rs d7 AN,0I!E
%(.$O2 2OULD YOU RATE INDIAN INSURANCE
COsP
a7 "I1I$ 2LANS b7NON=
USE" -"IEN$L,
87 UNSA0IS-A0O", S"E3I#ES d7 NON=
A11"ESSI3E
e7 SA0IS-A#0O", f7 1OO$
g7 3E", 1OO$
%).67AT 2OULD YOU LOO& FOR IN AN
INSURANCE COs& 6"ANK 0E!7
a7 A 0"US0E$ NA!E
b7 -"IEN$L, SE"3I#E / "ES2ONSI3ENESS
87 1OO$ 2LANS
d7 A##ESSI.ILI0,
(&
%*.2OULD YOU GO FOR INSURANCE IF A
SER%ICE PRO%IDER A2AY FROM T$E CITY
OFFERS 'ETTER SER%ICE D PRODUCTS&
a7 ,ES b7 NO 87
UN#E"0AIN
%+.ARE YOU PLANNING FOR NE2
IN%ESTMENTSP
2LANNIN1 NO0 2LANIN1
T$AN& YOU!
'I'LIOGRAP
$Y
2E'SITES REFERRED
www%metlife%8o%in
www%irdaindia%org
www%thehindubusinessline%8om
(4