INDEX

PARTICULAR.
ACKNOWLEDGEMENT
PREFACE
EXECUTIVE SUMMARY
PROJECT OBJECTIVE
INTRODUCTION TO THE INDUSTRY
INTRODUCTION TO THE COMPANY
PROJECT TRAINING PROFILE (RECRUITMENT)
Regulations – The Agency law
About IRDA
Importance of Financial Advisor
Principle of Channel Development
The working Environment
Profile of a Financial Advisor
COMPARISON BETWEEN H.D.F.C.
STANDARD WITH ICICI PRU.LIFE
RESEARCH METHODOLOGY
Title
Objective of the Study
Scope of the Study
Significance of the Industry
Significance of the Research
Research Technique
Sampling Methodology
Sampling unit
Sampling Area
Sample Size
Limitations
FACTS AND FINDING 44
DATA AND INTERPRETATION 46
CONCLUSION & RECOMMENDATIONS 71
BIBLIOGRAPHY 72
ANNEXURE 73
Questionnaire

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY
In today’s corporate and competitive world, I find that insurance sector has the maximum gr
The success story of good market share of different market organizations depends upon the a
Agents are the only way for a company of Insurance sector through which policies and benefi
INSURANCE SECTORS IN INDIA
ABOUT INSURANCE SECTOR IN INDIA
INTRODUCTION TO THE INDUSTRY
Insurance is a federal subject in india and has a history dating back to 1818. Life and ge
THE HISTORY OF INDIAN INSURANCE INDUSTRY
Insurance in India has its history dating back till 1818, when Oriental Life Insurance Comp
Insurance in India has its history dating back till 1818, when Oriental Life Insurance Comp
At the dawn of the twentieth century, insurance companies started mushrooming up. In the ye
With effect from December 2000, these subsidiaries have been de-linked from parent company
MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIA
• Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the
The Corporation also transacts business abroad and has offices in Fiji, Mauritius and Unite
Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur; and Life Insurance Corpor
into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pensi
• General Insurance Corporation of India (GIC)
The general insurance industry In 1995-96, LIC had a total income from premium and investme
LIC has even provided insurance cover to five million people living below the poverty line,
in India was nationalized and a government company known as General Insurance Corporation o
Besides the domestic market, the industry is presently operating in 17 countries directly t
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN PERMITTED TO ENTER INTO INSURAN
The introduction of private players in the industry has added to the colors in the dull ind
Updated list of all Insurance Companies in India (June 2009)
Insurance industry, earlier comprised of only two state insurers.
Life Insurers i.e. Life Insurance Corporation of India (LIC) and General Insurers i.e. Gene
With effect from Dec 2000, these subsidiaries have been de-linked from parent company and m
The first batch of licenses were issued by the Insurance Regulatory and Development Authori
IRDA has issued Certificates of Registration to five new companies in May-June 2008, to und
LIFE INSURERS:
Bajaj Allianz Life Insurance Company Limited
Birla Sun Life Insurance Co. Ltd
HDFC Standard Life Insurance Co. Ltd
ICICI Prudential Life Insurance Co. Ltd
ING Vysya Life Insurance Company Ltd.
Life Insurance Corporation of India
Max New York Life Insurance Co. Ltd
Met Life India Insurance Company Ltd.
Kotak Mahindra Old Mutual Life Insurance Limited
SBI Life Insurance Co. Ltd
Reliance Life Insurance Company Limited.
Aviva Life Insurance Company India Limited
Sahara India Life Insurance Co, Ltd.
Shriram Life Insurance Co, Ltd.
Bharti AXA Life Insurance
Tata AIG Life Insurance Company Limited
Future Generali India Life Insurance Company Limited
IDBI Fortis Life Insurance Company Ltd
Aegon Religare Life Insurance Company Limited
DLF Pramerica Life Insurance Company Limited
NON-LIFE INSURERS:
Bajaj Allianz General Insurance Co. Ltd.
ICICI Lombard General Insurance Co. Ltd.
IFFCO Tokio General Insurance Co. Ltd.
National Insurance Co.Ltd.
The New India Assurance Co. Ltd.
The Oriental Insurance Co. Ltd.
Reliance General Insurance Co. Ltd.
Royal Sundaram Alliance Insurance Co. Ltd
Tata AIG General Insurance Co. Ltd.
United India Insurance Co. Ltd.
Cholamandalam MS General Insurance Co. Ltd.
HDFC ERGO General Insurance Co. Ltd.
Export Credit Guarantee Corporation of India Ltd.
Agriculture Insurance Co. of India Ltd.
Star Health and Allied Insurance Company Limited
Apollo DKV Insurance Company Limited
Future Generali India Insurance Company Limited
Shriram General Insurance Company Limited
Bharti Axa General Insurance Company Limited

1) HDFC Standard Life Insurance-

HDFC Standard Life Insurance Company Ltd. is one of India’s leading private life insurance
2) Life Insurance Corporation of India
Comprehensive life insurance policy with stress to the rural areas and to the socially and
3) ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-one of India
ICICI Prudential Life Insurance is a74:26 joint venture between ICICI Bank India Ltd. and
INTRODUCTION TO THE COMPANY
PROFILE OF H.D.F.C. STANDARD LIFE INSURANCE CORP.
ABOUT HDFC STANDARD LIFE INSURANCE
HDFC Standard Life Insurance Company Ltd. is one of India s leading private insurance compa
HDFC STANDARD LIFE INSURANCE PARENTAGE
HDFC Limited.
HDFC is India leading housing finance institution and has helped build more than 23, 00,0
In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31
Rated AAA by CRISIL and ICRA for the 10th consecutive year
Stable and experienced management
High service standards
Presented the Dream Home award for the best housing finance provider in 2004 at the third
HDFC KEYS STRENGHS
FINANCIAL EXPERTISE
AS A JOINT VENTURE OF LEADING FINANCIAL SERVICES GROUPS, HDFC STANDARD LIFE HAS THE FINANCI
RANGE OF SOLUTIONS
WE HAVE A RANGE OF INDIVIDUAL AND GROUP SOLUTIONS, WHICH CAN BE EASILY CUSTOMISED TO SPECIF
TRACK RECORD SO FAR
OUR GROSS PREMIUM INCOME, FOR THE YEAR ENDING MARCH 31, 2008 STOOD AT RS. 4,859 CRORES AND
BELOW ARE FEW OF THE PLANS THAT ARE OFFERED BY HDFC STANDARDS LIFE INSURANCE
Individual Products
We at HDFC Standard Life realize that not everyone has the same kind of needs. Keeping this

Protection Plans
You can protect your family against the loss of your income or the burden of a loan in the

Our Protection range includes our Term Assurance Plan & Loan Cover Term Assurance Plan
Investment Plans
Our Single Premium Whole Of Life plan is well suited to meet your long term investment need

PensionPlans
Our Pension Plans help you secure your financial independence even after retirement.
Our Pension range includes our Personal Pension Plan, Unit Linked Pension, Unit Linked Pens
SavingsPlans
Our Savings Plans offer you flexible options to build savings for your future needs such as
Unit Linked Enhanced Life Protection II, Children s Plan, Unit Linked Young Star,
Unit Linked Young Star Plus, and Unit Linked Young Star Plus II.

Group Products
One-stop shop for employee-benefit solutions
HDFC Standard Life has the most comprehensive list of products for progressive employers wh
Group Term Insurance
Group Variable Term Insurance
Group Unit-Linked Plan
An investment solution that provides funding vehicle to manage corpuses with Gratuity, Defi
Social Product
Development Insurance Plan
Development Insurance plan is an insurance plan which provides life cover to members of a D

Eligibility
Members of the development agency and their spouses with:
Minimum age at the start of the policy 18 years last birthday
Maximum age at the start of policy 50 years last birthday
Employees of the Development Agency are not eligible to join the group. The group to be cov
Premium Payments
The premium to be paid will be quoted per member in the group and will be the same for all
The premium can only be paid by the Development Agency as a single lump sum that includes a
The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per member.
Benefits
On the death of each member covered by the policy during the year of cover a lump sum equal
The role of the Development Agency
Due to the nature of the groups covered, HDFC Standard Life will be passing certain adminis
Submission of member data in a specified computer format.
Collection of premiums from group members
Recording changes in the details of group members
Disbursement of claim payments and the mortality rebate (if any) to group members
These tasks would be in addition to the usual duties of a policyholder such as:
Payment of premiums
Reporting of claims
Keeping policy holder information up to date
Training and support will be available to give guidance on how to complete the tasks approp
Since these additional tasks will impose a burden on the Development Agency, the Developmen
Prohibition of rebates
Section 41 of the Insurance Act, 1938 states
No person shall allow or offer to allow, either directly or indirectly, as an inducement to
If any person fails to comply with sub regulation (previous point) above, he shall be liabl
PROJECT TRAINING PROFILE (RECRUITMENT)
REGULATIONS -THE AGENCY LAW
The basics of the insurance business in India are governed by the agency law, which is part
Agent-the definition
According to the section 182 of the Indian contract act ,1872, “an agent is a person employ
In the insurance sector the term “agent” is ordinarily applied to a person engaged by the i
Powers of the agent
An agent can act only to the extent of authority may be expressed or implied. An authority
Life Insurance Agent
The insurance act ,1938 defines an agent as “one who is licensed under the act and is paid
THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY
Duties, Powers and Functions
Section 14 of IRDA act,1999 lays down the duties, powers and functions of IRDA.
Subject to the provisions of this act and any other law for the time being in force, the au
Without prejudice to the generality of the provisions contained in sub-section (1), the pow
1. Issue to the applicant a certificate of registration, renew, modify, withdraw, suspend
2. Protection of the interests of the policy holders in matters concerning assigning of pol
3. Specifying requisite qualifications, code of conduct and practical training for intermed
4. Specifying the code of conduct for surveyors and loss assessors;
5. Promoting efficiency in the conduct of insurance business;
6. Promoting and regulating professional organizations connected with the insurance and re
7. Levying fees and other charges for carrying out the purposes of this act;
8. Calling for information from, undertaking inspection of, conducting enquiries and inves
9. Control and regulations of the rates, advantages, terms and conditions that may be offer
10. Specifying the form and manner in which books of account shall be maintained and statem
11. Regulating investment of funds by insurance companies;
12. Regulating maintenance of margin of solvency;
13. Adjudication of disputes between insurers and intermediaries or insurance intermediari
14. Supervising the functioning of the tariff advisory committee;
15. Specifying the percentage of premium income of the insurer to finance schemes for promo
16. Specifying the percentage of life insurance business and general insurance business to
17. Exercising such other powers as may be prescribed;
Essentials for the license
The IRDA has prescribed both qualifications and disqualification for a person to be given a
QUALIFICATIONS
The person must :-
Be at least 18 years of age;
Have passed at least 12th standard or more (if he is appointed in a place with population 5
Have undergone training for at least 100 hours in life or general insurance business as the
Should have also passed the pre-recruitment examination conducted by the Insurance Institut
The factors that would debar a person from obtaining a license are that he/she
Has been found to be of unsound mind by a court of competent jurisdiction
Has been found guilty of criminal breach of trust, misappropriation, cheating, forgery or a
The license once issued can be cancelled whenever the person acquires a disqualification. I
There are two separate forms, one for individuals & another for those other than individual

The application for the license should be accomplished by proofs.

Of fee having been remitted to the authority.
Of age
Of having completed the training & passed the prescribed examination.
Code of Conduct for the Agent
The licensing of Insurance Agent Regulations, 2000 lays down a code of conduct for the agen
Disclose the license to the prospect on demand.
Explain all available options to the prospect.
Disclose the scales of commission, if asked for by the prospect.
Impress upon the prospect need to disclose all information
Inform the insurer about any adverse habits & materials facts of the person to be insured.
Convey to the proper about the acceptance or rejection of the proposal. Render necessary as
Make every attempts to ensure remittance of premiums by the policy holders within the stipu
Not induce the prospect to submit any wrong information.
Not interfere with the proposal introduced by other insurance agents.
Not demand or receive share of proceeds under an insurance contract.
Not cause the termination of an existing policy with a view to effect a new proposal.
THE IMPORTANCE OF ADVISORS
HDFC SLIC aspires to provide state of the art of customer service & opportunities & avenues
Complete & diversified product portfolio.
Faster & more accurate service.
Multi-channel distribution systems.
Highly trained professional sales people offering quality pre & post sales service.
It is in the above mentioned areas of personal specialization where the importance of an ad
If looked from the other side of the business where the company is operating the competitiv
THE PRINCIPLE OF CHANNEL DEVELOPMENT
The company in its vision out the urge to become the dominant player in the industry. The c
INTEGRITY
CUSTOMER FIRST
BOUNDARY LESS
OWNERSHIP
PASSION
These are the foundation on which the organization works & the base for the overall busines
Recruit the best
Experts in knowing what exactly their customers wants is well versed in spotting the talent
Personal Responsibility
The company believes that it is the prerogative of the company to create the team that it w
Empowered Teams
Each employee is a stake holder in the organization & its growth. It is the one of the impo

Rewards & Recognition

The rewards in the company are directly proportional to the work & targets achieved & gone
Shared Vision & Purpose.
The company focuses on having the organizations striving towards a common goal, which is ea
THE WORKING ENVIRONMENT
The company is in a continuous search for the best of talents in the market, which align wi
Urge from the incumbent to be a part of a world class sales steam.
The freedom of working from his/her own office/residence.
The flexibility of working hours i.e., full time or part time.
Opportunity to earn commission, bonus & incentives.
Unlimited earnings- directly proportional to your efforts.
Most important- the chance of flexible career.
The company is aware of the current trends in the market & the essential factors of increas
The company gives the space & time required to grow, achieve & to seek new domains & opport
The company also stresses out that the incumbents shoul
it takes e-commerce & technology on a very high priority with increasing resource being tar
THE PROFILE OF A FINANCIAL ADVISOR
Qualifications
Age should be ideally between 25-60 years.
Minimum education qualification is 10 + 2.
Good & convincing communication skills.
Capacity to build an impressive network.
Engaged in gainful business or corporation.
Willing to undergo extensive training & development programs
Pleasing personality.
Skills & Competencies
The company is always on a look out for people who have the following skills & competencies
Actuarial skills.
Investment management skills.
Core operation skills.
Core underwriting skills.
Relationship management skills.
Project management skills.
Leadership & Team skills
A passion for achieving results.
High energy levels & infectious enthusiasm
Open to ideas
Strong team players
High caliber & ability
And above all, unyielding integrity.
JOB PROFILE
As a financial advisor for the company, the role of the individual is no way limited to sel
There is absolutely no need of a startup capital.
There is the benefit of flexible working hours.
The freedom to work from anywhere & being one’s own boss.
The unlimited earning benefits in form of remuneration & incentives.
And the privilege of being a part of a world class sales team.
The role of an advisor is multifaceted in the sense that his work scope is in no way limite
Providing continuous financial advise to clients
Identifying prospective clients.
Making appointments
Conducting reviews with the prospective/existing clients.
Closing the sales contracts
Getting more referrals so as to increase the network
Providing pre & post sales services to clients
The financial advisor is also required to regularly follow the internal sales & the interna

RESEARCH METHODOLOGY
TITLE:
Comparison between H.D.F.C STANDARD LIFE INSURANCE CORPORATION vs. ICICI PRUDENTIAL LIFE IN
TITLE JUSTIFICATION:
The above title is self explanatory. The study deals mainly with studying the buying pat
OBJECTIVE
Objective One
To determine reason’s behind opting for an Insurance.
To provide the customer’s with information of companies’ Insurance policy if they have any
To know the most preferred policy.

Objective Two
To determine customers perception towards private insurance companies and their expectation
To determine the feedback of service’s provided by any other insurance agent.
To study the type’s of benefits provided by insurance services.
To determining the uses of internet for the valuable information and decision-making proces
SCOPE OF THE STUDY
A big boom has been witnessed in Insurance Industry in recent times. A large number of new
SIGNIFICANCE OF THE STUDY
SIGNIFICANCE TO THE INDUSTRY:
This is a limited study which takes into consideration the responses of 100 people. This da
SIGNIFICANE FOR THE RESEARCHER:
To facilitate and provide all the useful information about the study, about the company,the
RESEARCH DESIGN
NON-PROBABILITY
EXPLORATORY & DISCRIPTIVE EXPERIMENTAL RESEARCH
The research is primarily both exploratory as well as descriptive in nature. The sources of
SAMPLING METHODOLOGY
Sampling Technique:
The research is primarily both exploratory as well as descriptive in nature. The sources of
SAMPLING METHODOLOGY
Sampling Technique:
Initially, a rough draft was prepared keeping in mind the objective of the research. A pilo
Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These com
Sample size:
Employees of MNCs, Govt. Employees, Self Employed etc. The sample size was restricted to on
Sampling Area:
The area of the research was dhanbad, ranchi, dumka.
LIMITATIONS OF THE RESEARCH
1. The research is confined to a certain parts of Delhi and does not necessarily shows a pa
2. Some respondents were reluctant to divulge personal information which can affect the val
3. In a rapidly changing industry, analysis on one day or in one segment can change very qu
FACTS & FINDING:
FACTS/FINDINGS
1.As the people think that insurance is a tool to protect their family & a tax saving devic
2.Company should come up with its branch in Delhi. With the objective and goals to meet the
3.Since HDFC Life Insurance is leading with several companies’ policies it should be easy f

4.As seen from the survey that at present 70% of the customer are having insurance policy o
5.43% of the customer is even ready to go for insurance if a service provider away from the

DATA ANALYSIS & INTERPRETATION

DATA GIVES PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES
COMPANY’S NAME NO.OF RESPONDENT SHARE (%)
L.I.C. 64 64
H.D.F.C. STANDARD 9 9
ICICI PRUDENTIAL 15 15
SBI LIFE 10 10

OTHERS 2 2
TOTAL 100 100

INTERPRETATION
78% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1

DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS

BENEFITS NO.OF RESPONDENTS SHARE (%)
Cover Future Uncertainty 55 55
Tax Deductions 20 20
Future Investment 25 25
TOTAL 100 100

INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit of a
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and future i
DATA PROVIDES FEATURES OF INSURANCE POLICY THAT ATTRACTED RESPONDENTS:
FEATURE NO.OF RESPONDENTS SHARE (%)
Money Back Guarantee 15 15
Larger Risk Coverance 37 37
Easy Access to Agents 7 7
Low Premium 30 30
Company’s Reputation 11 11
TOTAL 100 100

INTERPRETATION
Majority of the respondent (37%) found Larger risk coverance as the most attracted feature

DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

POLICY TYPE NO. OF RESPONDENTS SHARE (%)
LIFE POLICY 75 75
NON LIFE POLICY 25 25
BOTH 45 45

INTERPRETATION
75% of the respondents have Life Insurance Policy while 45% have both. (The % is calculated

DATA SHOWS PEOPLES HAVING INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE (%)
Yes 70 70%
No 30 30%
Total 100 100%
INTERPRETATION
Of the sample size of 400 surveyed respondents 70% of the respondents are having Insurance
30% of the respondents are either not having any Insurance policy at present or their polic
And at present 100% of the respondents are with the view that Insurance is a tool to protec
RESPONSE NO. OF RESPONDENTS SHARE (%)
Tax saving 80 80%
Saving / Investment 80 80.%
Family protection 100 100%

INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
80.71% of the Respondents opted for saving / Investments
DATA SHOWS REASONS BEHIND FOR INSURANCE
RESPONSE NO. OF RESPONDENTS SHARE (%)
Tax saving 80 80%
Saving / Investment 80 80.%
Family protection 100 100%

INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
80.71% of the Respondents opted for saving / Investments

RESPONSE NO. OF RESPONDENTS SHARE (%)

Satisfied 60 60%
Not satisfied 40 40%
Not Responded 0 0.0%
Total 100 100%

INTERPRETATION
60% of the respondents are more or less satisfied with their existing policy.
40% of the respondents are not satisfied with their existing policy.
In this case all of those who have taken a policy have responded.

BIBLIOGRAPHY
1. BOOKS/MAGAZINES REFFERED:
STUDY GUIDE- PRINCILES & PRACTICES OF LIFE / GENERALINSURANCE, by AIMA.
Books published by INSURANCE INSTITUTE OF INDIA
GILL, Mc, LIFE-INSURANCE,
INSURANCEWATCH.
MONEYOUTLOOK.
2. WEBSITES REFFERED:
www.hdfc life insurance.co.in
www.cifainsurance.com
www.moneyoutlook.com
 www.insurance.ind.com
3. REPORTS/ARTICLES REFFERED:
REPORT: ISSUES & CHALLENGES FACING THE INSURANCE INDUSTRY…. Dec2005.
BRIEF PROFILE OF LIC, INDIA…Dec 2006.
REPORT: COPING WITH COMPETITION…Jan2007

Conclusion
Our exhaustive research in the field of Life Insurance threw up some intresting trends whic
People in general have been impressioned by the marketing and advertising campaigns of insu
Another heartning trend was in terms of people viewing insurance as a tax saving and invest
The general satisfaction levels among public with regards to policy and agents still requir

ANNEXURES
AND
QUESTIONNAIRE

QUESTIONNAIRE
ARE YOU EMPLOYED?
YES NO
If YES, only then proceed
DO YOU HAVE ANY INSURANCE POLICY?
YES NO
WHICH INSURANCE POLICY DO YOU HAVE?
LIFE NON-LIFE BOTH
WHICH CO’S INSURANCE POLICY YOU PREFER THE MOST? (RANK
a) LIC
b) HDFC STANDARD LIFE
c) SBI LIFE INSURANCE
d) ING VYSYA LIFE
e) RELIANCE LIFE INSURANCE
f) TATA AIG LIFE
g) ICICIPRUDENTIAL
h) ANY OTHER ________ (Specify)
FOR HOW MANY YEARS DO YOU HAVE INSURANCE POLICY? (Please Tick)
a) <5Yrs b) 5-10 Yrs c) 10-15 Yrs d) Any Other______
(Specify)

WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE COVER?

(RANK THEM)
a) COVER FUTURE UNCERTAINITY
b) TAX DEDUCTIONS
c) FUTURE INVESTMENT
d) ANY OTHER _________ (Specify)
WHICH FEATURE OF YOUR POLICY ATTRACTED YOU TO BUY IT?
(RANK THEM)
a) LOW PREMIUM
b) LARGER RISK COVERANCE
c) MONEY BACK GUARNTEE
d) REPUTATION OF COMPANY
e) EASY ACCESS TO AGENTS
f) ANY OTHER _________ (Specify)
8. YOUR MONTHLY INCOME?
a)<4k b)4k-8k c)8k-12k d)12k-16k e)Other_____(Specify)
9. DO YOU REALLY THINK INSURANCE POLICY COVER IN TODAY’S SCENARIO IS NOT ESSENTIAL?
10. WHAT’S YOUR PERCEPTION ABOUT INSURANCE?
(RANK THEM)
a) A SAVING TOOL

b) A TAX SAVING DEVICE

c) A TOOL TO PROTECT FUTURE
11. HOW HAS/WOULD YOU BOUGHT/BUY INSURANCE?
a) CUSTOMER APPROCHED INSURANCE COs
b) INSURANCE COs APPROCHED CUSTOMER
12. ARE YOU SATISFIED WITH THE POLICY?
a) SATISFIED SAVING TOOL

b) NOT SATISFIED
c) NOT RESPONDING
13. ARE YOU SATISFIED WITH THE SERVICE AGENT?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
14 DO YOU PAY TAXES?
YES NO
15. WHERE HAVE YOU INVESTED FOR TAX SAVING?
(RANK THEM)
a) LIC
b) NSC
c) BONDS
d) PPF
e) PF
f) EPF
16. WHICH IS THE BEST FORM OF INVESTMENTS?
(RANK THEM)
a) FIXED ASSETS
b) BANK DEPOSITS
c) JEWELLERY
d) SECURITIES, i.e. Bonds, MFs
e) SHARES
f) INSURANCE
17. WHAT DO YOU INTENT TO GAIN FROM INVESTMENTS?
A) SAVING & RETURNS
b) SECURITY
c) TAX BENIFITS
18. WHAT’S THE RIGHT AGE TO BUY INSURANCE?
a) AFTER 25 Yrs
b) AFTER 35 Yrs

c) AFTER 45 Yrs
d) ANYTIME
19. HOW WOULD YOU RATE INDIAN INSURANCE COs?
a) RIGID PLANS
b) NON-USER FRIENDLY
c) UNSATISFATORY SREVICES

d) NON-AGGRESSIVE
e) SATISFACTORY
f) GOOD
g) VERY GOOD
20. WHAT WOULD YOU LOOK FOR IN AN INSURANCE COs?
(RANK THEM)
a) A TRUSTED NAME
b) FRIENDLY SERVICE & RESPONSIVENESS
c) GOOD PLANS
d) ACCESSIBILITY

21. ARE YOU PLANNING FOR NEW INVESTMENTS?

PLANNING NOT PLANING

22. WOULD YOU GO FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVI
a) YES
b) NO
c) UNCERTAIN
INDEX
PARTICULAR.
ACKNOWLEDGEMENT
PREFACE
EXECUTIVE SUMMARY
PROJECT OBJECTIVE
INTRODUCTION TO THE INDUSTRY
INTRODUCTION TO THE COMPANY
PROJECT TRAINING PROFILE (RECRUITMENT)
Regulations – The Agency law
About IRDA
Importance of Financial Advisor
Principle of Channel Development
The working Environment
Profile of a Financial Advisor
COMPARISON BETWEEN H.D.F.C.
STANDARD WITH ICICI PRU.LIFE
RESEARCH METHODOLOGY
Title
Objective of the Study
Scope of the Study
Significance of the Industry
Significance of the Research
Research Technique
Sampling Methodology
Sampling unit
Sampling Area
Sample Size
Limitations
FACTS AND FINDING 44
DATA AND INTERPRETATION 46
CONCLUSION & RECOMMENDATIONS 71
BIBLIOGRAPHY 72
ANNEXURE 73
Questionnaire

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY
In today’s corporate and competitive world, I find that insurance sector has the maximum gr
The success story of good market share of different market organizations depends upon the a
Agents are the only way for a company of Insurance sector through which policies and benefi
 INSURANCE SECTORS IN INDIA

ABOUT INSURANCE SECTOR IN INDIA

INTRODUCTION TO THE INDUSTRY
Insurance is a federal subject in india and has a history dating back to 1818. Life and ge
THE HISTORY OF INDIAN INSURANCE INDUSTRY
Insurance in India has its history dating back till 1818, when Oriental Life Insurance Comp
Insurance in India has its history dating back till 1818, when Oriental Life Insurance Comp
At the dawn of the twentieth century, insurance companies started mushrooming up. In the ye
With effect from December 2000, these subsidiaries have been de-linked from parent company
MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIA
• Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the
The Corporation also transacts business abroad and has offices in Fiji, Mauritius and Unite
Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur; and Life Insurance Corpor
into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pensi
• General Insurance Corporation of India (GIC)
The general insurance industry In 1995-96, LIC had a total income from premium and investme
LIC has even provided insurance cover to five million people living below the poverty line,
in India was nationalized and a government company known as General Insurance Corporation o
Besides the domestic market, the industry is presently operating in 17 countries directly t
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN PERMITTED TO ENTER INTO INSURAN
The introduction of private players in the industry has added to the colors in the dull ind
Updated list of all Insurance Companies in India (June 2009)
Insurance industry, earlier comprised of only two state insurers.
Life Insurers i.e. Life Insurance Corporation of India (LIC) and General Insurers i.e. Gene
With effect from Dec 2000, these subsidiaries have been de-linked from parent company and m
The first batch of licenses were issued by the Insurance Regulatory and Development Authori
IRDA has issued Certificates of Registration to five new companies in May-June 2008, to und
LIFE INSURERS:
Bajaj Allianz Life Insurance Company Limited
Birla Sun Life Insurance Co. Ltd
HDFC Standard Life Insurance Co. Ltd
ICICI Prudential Life Insurance Co. Ltd
ING Vysya Life Insurance Company Ltd.
Life Insurance Corporation of India
Max New York Life Insurance Co. Ltd
Met Life India Insurance Company Ltd.
Kotak Mahindra Old Mutual Life Insurance Limited
SBI Life Insurance Co. Ltd
Reliance Life Insurance Company Limited.
Aviva Life Insurance Company India Limited
Sahara India Life Insurance Co, Ltd.
Shriram Life Insurance Co, Ltd.
Bharti AXA Life Insurance
Tata AIG Life Insurance Company Limited
Future Generali India Life Insurance Company Limited
IDBI Fortis Life Insurance Company Ltd
Aegon Religare Life Insurance Company Limited
DLF Pramerica Life Insurance Company Limited
NON-LIFE INSURERS:
Bajaj Allianz General Insurance Co. Ltd.
ICICI Lombard General Insurance Co. Ltd.
IFFCO Tokio General Insurance Co. Ltd.
National Insurance Co.Ltd.
The New India Assurance Co. Ltd.
The Oriental Insurance Co. Ltd.
Reliance General Insurance Co. Ltd.
Royal Sundaram Alliance Insurance Co. Ltd
Tata AIG General Insurance Co. Ltd.
United India Insurance Co. Ltd.
Cholamandalam MS General Insurance Co. Ltd.
HDFC ERGO General Insurance Co. Ltd.
Export Credit Guarantee Corporation of India Ltd.
Agriculture Insurance Co. of India Ltd.
Star Health and Allied Insurance Company Limited
Apollo DKV Insurance Company Limited
Future Generali India Insurance Company Limited
Shriram General Insurance Company Limited
Bharti Axa General Insurance Company Limited

1) HDFC Standard Life Insurance-

HDFC Standard Life Insurance Company Ltd. is one of India’s leading private life insurance
2) Life Insurance Corporation of India
Comprehensive life insurance policy with stress to the rural areas and to the socially and
3) ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-one of India
ICICI Prudential Life Insurance is a74:26 joint venture between ICICI Bank India Ltd. and
INTRODUCTION TO THE COMPANY
PROFILE OF H.D.F.C. STANDARD LIFE INSURANCE CORP.
ABOUT HDFC STANDARD LIFE INSURANCE
HDFC Standard Life Insurance Company Ltd. is one of India s leading private insurance compa
HDFC STANDARD LIFE INSURANCE PARENTAGE
HDFC Limited.
HDFC is India leading housing finance institution and has helped build more than 23, 00,0
In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31
Rated AAA by CRISIL and ICRA for the 10th consecutive year
Stable and experienced management
High service standards
Presented the Dream Home award for the best housing finance provider in 2004 at the third
HDFC KEYS STRENGHS
FINANCIAL EXPERTISE
AS A JOINT VENTURE OF LEADING FINANCIAL SERVICES GROUPS, HDFC STANDARD LIFE HAS THE FINANCI
RANGE OF SOLUTIONS
WE HAVE A RANGE OF INDIVIDUAL AND GROUP SOLUTIONS, WHICH CAN BE EASILY CUSTOMISED TO SPECIF
TRACK RECORD SO FAR
OUR GROSS PREMIUM INCOME, FOR THE YEAR ENDING MARCH 31, 2008 STOOD AT RS. 4,859 CRORES AND
BELOW ARE FEW OF THE PLANS THAT ARE OFFERED BY HDFC STANDARDS LIFE INSURANCE
Individual Products
We at HDFC Standard Life realize that not everyone has the same kind of needs. Keeping this

Protection Plans
You can protect your family against the loss of your income or the burden of a loan in the

Our Protection range includes our Term Assurance Plan & Loan Cover Term Assurance Plan
Investment Plans
Our Single Premium Whole Of Life plan is well suited to meet your long term investment need

PensionPlans
Our Pension Plans help you secure your financial independence even after retirement.
Our Pension range includes our Personal Pension Plan, Unit Linked Pension, Unit Linked Pens
SavingsPlans
Our Savings Plans offer you flexible options to build savings for your future needs such as
Unit Linked Enhanced Life Protection II, Children s Plan, Unit Linked Young Star,
Unit Linked Young Star Plus, and Unit Linked Young Star Plus II.

Group Products
One-stop shop for employee-benefit solutions
HDFC Standard Life has the most comprehensive list of products for progressive employers wh
Group Term Insurance
Group Variable Term Insurance
Group Unit-Linked Plan
An investment solution that provides funding vehicle to manage corpuses with Gratuity, Defi
Social Product
Development Insurance Plan
Development Insurance plan is an insurance plan which provides life cover to members of a D

Eligibility
Members of the development agency and their spouses with:
Minimum age at the start of the policy 18 years last birthday
Maximum age at the start of policy 50 years last birthday
Employees of the Development Agency are not eligible to join the group. The group to be cov
Premium Payments
The premium to be paid will be quoted per member in the group and will be the same for all
The premium can only be paid by the Development Agency as a single lump sum that includes a
The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per member.
Benefits
On the death of each member covered by the policy during the year of cover a lump sum equal
The role of the Development Agency
Due to the nature of the groups covered, HDFC Standard Life will be passing certain adminis
Submission of member data in a specified computer format.
Collection of premiums from group members
Recording changes in the details of group members
Disbursement of claim payments and the mortality rebate (if any) to group members
These tasks would be in addition to the usual duties of a policyholder such as:
Payment of premiums
Reporting of claims
Keeping policy holder information up to date
Training and support will be available to give guidance on how to complete the tasks approp
Since these additional tasks will impose a burden on the Development Agency, the Developmen
Prohibition of rebates
Section 41 of the Insurance Act, 1938 states
No person shall allow or offer to allow, either directly or indirectly, as an inducement to
If any person fails to comply with sub regulation (previous point) above, he shall be liabl
PROJECT TRAINING PROFILE (RECRUITMENT)
REGULATIONS -THE AGENCY LAW
The basics of the insurance business in India are governed by the agency law, which is part
Agent-the definition
According to the section 182 of the Indian contract act ,1872, “an agent is a person employ
In the insurance sector the term “agent” is ordinarily applied to a person engaged by the i
Powers of the agent
An agent can act only to the extent of authority may be expressed or implied. An authority
Life Insurance Agent
The insurance act ,1938 defines an agent as “one who is licensed under the act and is paid
THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY
Duties, Powers and Functions
Section 14 of IRDA act,1999 lays down the duties, powers and functions of IRDA.
Subject to the provisions of this act and any other law for the time being in force, the au
Without prejudice to the generality of the provisions contained in sub-section (1), the pow
1. Issue to the applicant a certificate of registration, renew, modify, withdraw, suspend
2. Protection of the interests of the policy holders in matters concerning assigning of pol
3. Specifying requisite qualifications, code of conduct and practical training for intermed
4. Specifying the code of conduct for surveyors and loss assessors;
5. Promoting efficiency in the conduct of insurance business;
6. Promoting and regulating professional organizations connected with the insurance and re
7. Levying fees and other charges for carrying out the purposes of this act;
8. Calling for information from, undertaking inspection of, conducting enquiries and inves
9. Control and regulations of the rates, advantages, terms and conditions that may be offer
10. Specifying the form and manner in which books of account shall be maintained and statem
11. Regulating investment of funds by insurance companies;
12. Regulating maintenance of margin of solvency;
13. Adjudication of disputes between insurers and intermediaries or insurance intermediari
14. Supervising the functioning of the tariff advisory committee;
15. Specifying the percentage of premium income of the insurer to finance schemes for promo
16. Specifying the percentage of life insurance business and general insurance business to
17. Exercising such other powers as may be prescribed;
Essentials for the license
The IRDA has prescribed both qualifications and disqualification for a person to be given a
QUALIFICATIONS
The person must :-
Be at least 18 years of age;
Have passed at least 12th standard or more (if he is appointed in a place with population 5
Have undergone training for at least 100 hours in life or general insurance business as the
Should have also passed the pre-recruitment examination conducted by the Insurance Institut
The factors that would debar a person from obtaining a license are that he/she
Has been found to be of unsound mind by a court of competent jurisdiction
Has been found guilty of criminal breach of trust, misappropriation, cheating, forgery or a
The license once issued can be cancelled whenever the person acquires a disqualification. I
There are two separate forms, one for individuals & another for those other than individual

The application for the license should be accomplished by proofs.

Of fee having been remitted to the authority.
Of age
Of having completed the training & passed the prescribed examination.
Code of Conduct for the Agent
The licensing of Insurance Agent Regulations, 2000 lays down a code of conduct for the agen
Disclose the license to the prospect on demand.
Explain all available options to the prospect.
Disclose the scales of commission, if asked for by the prospect.
Impress upon the prospect need to disclose all information
Inform the insurer about any adverse habits & materials facts of the person to be insured.
Convey to the proper about the acceptance or rejection of the proposal. Render necessary as
Make every attempts to ensure remittance of premiums by the policy holders within the stipu
Not induce the prospect to submit any wrong information.
Not interfere with the proposal introduced by other insurance agents.
Not demand or receive share of proceeds under an insurance contract.
Not cause the termination of an existing policy with a view to effect a new proposal.
THE IMPORTANCE OF ADVISORS
HDFC SLIC aspires to provide state of the art of customer service & opportunities & avenues
Complete & diversified product portfolio.
Faster & more accurate service.
Multi-channel distribution systems.
Highly trained professional sales people offering quality pre & post sales service.
It is in the above mentioned areas of personal specialization where the importance of an ad
If looked from the other side of the business where the company is operating the competitiv
THE PRINCIPLE OF CHANNEL DEVELOPMENT
The company in its vision out the urge to become the dominant player in the industry. The c
INTEGRITY
CUSTOMER FIRST
BOUNDARY LESS
OWNERSHIP
PASSION
These are the foundation on which the organization works & the base for the overall busines
Recruit the best
Experts in knowing what exactly their customers wants is well versed in spotting the talent
Personal Responsibility
The company believes that it is the prerogative of the company to create the team that it w
Empowered Teams
Each employee is a stake holder in the organization & its growth. It is the one of the impo

Rewards & Recognition

The rewards in the company are directly proportional to the work & targets achieved & gone
Shared Vision & Purpose.
The company focuses on having the organizations striving towards a common goal, which is ea
THE WORKING ENVIRONMENT
The company is in a continuous search for the best of talents in the market, which align wi
Urge from the incumbent to be a part of a world class sales steam.
The freedom of working from his/her own office/residence.
The flexibility of working hours i.e., full time or part time.
Opportunity to earn commission, bonus & incentives.
Unlimited earnings- directly proportional to your efforts.
Most important- the chance of flexible career.
The company is aware of the current trends in the market & the essential factors of increas
The company gives the space & time required to grow, achieve & to seek new domains & opport
The company also stresses out that the incumbents shoul
it takes e-commerce & technology on a very high priority with increasing resource being tar
THE PROFILE OF A FINANCIAL ADVISOR
Qualifications
Age should be ideally between 25-60 years.
Minimum education qualification is 10 + 2.
Good & convincing communication skills.
Capacity to build an impressive network.
Engaged in gainful business or corporation.
Willing to undergo extensive training & development programs
Pleasing personality.
Skills & Competencies
The company is always on a look out for people who have the following skills & competencies
Actuarial skills.
Investment management skills.
Core operation skills.
Core underwriting skills.
Relationship management skills.
Project management skills.
Leadership & Team skills
A passion for achieving results.
High energy levels & infectious enthusiasm
Open to ideas
Strong team players
High caliber & ability
And above all, unyielding integrity.
JOB PROFILE
As a financial advisor for the company, the role of the individual is no way limited to sel
There is absolutely no need of a startup capital.
There is the benefit of flexible working hours.
The freedom to work from anywhere & being one’s own boss.
The unlimited earning benefits in form of remuneration & incentives.
And the privilege of being a part of a world class sales team.
The role of an advisor is multifaceted in the sense that his work scope is in no way limite
Providing continuous financial advise to clients
Identifying prospective clients.
Making appointments
Conducting reviews with the prospective/existing clients.
Closing the sales contracts
Getting more referrals so as to increase the network
Providing pre & post sales services to clients
The financial advisor is also required to regularly follow the internal sales & the interna

RESEARCH METHODOLOGY
TITLE:
Comparison between H.D.F.C STANDARD LIFE INSURANCE CORPORATION vs. ICICI PRUDENTIAL LIFE IN
TITLE JUSTIFICATION:
The above title is self explanatory. The study deals mainly with studying the buying pat
OBJECTIVE
Objective One
To determine reason’s behind opting for an Insurance.
To provide the customer’s with information of companies’ Insurance policy if they have any
To know the most preferred policy.

Objective Two
To determine customers perception towards private insurance companies and their expectation
To determine the feedback of service’s provided by any other insurance agent.
To study the type’s of benefits provided by insurance services.
To determining the uses of internet for the valuable information and decision-making proces
SCOPE OF THE STUDY
A big boom has been witnessed in Insurance Industry in recent times. A large number of new
SIGNIFICANCE OF THE STUDY
SIGNIFICANCE TO THE INDUSTRY:
This is a limited study which takes into consideration the responses of 100 people. This da
SIGNIFICANE FOR THE RESEARCHER:
To facilitate and provide all the useful information about the study, about the company,the
RESEARCH DESIGN
NON-PROBABILITY
EXPLORATORY & DISCRIPTIVE EXPERIMENTAL RESEARCH
The research is primarily both exploratory as well as descriptive in nature. The sources of
SAMPLING METHODOLOGY
Sampling Technique:
The research is primarily both exploratory as well as descriptive in nature. The sources of
SAMPLING METHODOLOGY
Sampling Technique:
Initially, a rough draft was prepared keeping in mind the objective of the research. A pilo

Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These com
Sample size:
Employees of MNCs, Govt. Employees, Self Employed etc. The sample size was restricted to on
Sampling Area:
The area of the research was dhanbad, ranchi, dumka.
LIMITATIONS OF THE RESEARCH
1. The research is confined to a certain parts of Delhi and does not necessarily shows a pa
2. Some respondents were reluctant to divulge personal information which can affect the val
3. In a rapidly changing industry, analysis on one day or in one segment can change very qu
FACTS & FINDING:
FACTS/FINDINGS
1.As the people think that insurance is a tool to protect their family & a tax saving devic
2.Company should come up with its branch in Delhi. With the objective and goals to meet the
3.Since HDFC Life Insurance is leading with several companies’ policies it should be easy f

4.As seen from the survey that at present 70% of the customer are having insurance policy o
5.43% of the customer is even ready to go for insurance if a service provider away from the

DATA ANALYSIS & INTERPRETATION

DATA GIVES PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES
COMPANY’S NAME NO.OF RESPONDENT SHARE (%)
L.I.C. 64 64
H.D.F.C. STANDARD 9 9
ICICI PRUDENTIAL 15 15
SBI LIFE 10 10

OTHERS 2 2
TOTAL 100 100

INTERPRETATION
78% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1
DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS
BENEFITS NO.OF RESPONDENTS SHARE (%)
Cover Future Uncertainty 55 55
Tax Deductions 20 20
Future Investment 25 25
TOTAL 100 100

INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit of a
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and future i
DATA PROVIDES FEATURES OF INSURANCE POLICY THAT ATTRACTED RESPONDENTS:
FEATURE NO.OF RESPONDENTS SHARE (%)
Money Back Guarantee 15 15
Larger Risk Coverance 37 37
Easy Access to Agents 7 7
Low Premium 30 30
Company’s Reputation 11 11
TOTAL 100 100

INTERPRETATION
Majority of the respondent (37%) found Larger risk coverance as the most attracted feature

DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

POLICY TYPE NO. OF RESPONDENTS SHARE (%)
LIFE POLICY 75 75
NON LIFE POLICY 25 25
BOTH 45 45

INTERPRETATION
75% of the respondents have Life Insurance Policy while 45% have both. (The % is calculated

DATA SHOWS PEOPLES HAVING INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE (%)
Yes 70 70%
No 30 30%
Total 100 100%
INTERPRETATION
Of the sample size of 400 surveyed respondents 70% of the respondents are having Insurance
30% of the respondents are either not having any Insurance policy at present or their polic
And at present 100% of the respondents are with the view that Insurance is a tool to protec
RESPONSE NO. OF RESPONDENTS SHARE (%)
Tax saving 80 80%
Saving / Investment 80 80.%
Family protection 100 100%

INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
80.71% of the Respondents opted for saving / Investments
DATA SHOWS REASONS BEHIND FOR INSURANCE
RESPONSE NO. OF RESPONDENTS SHARE (%)
Tax saving 80 80%
Saving / Investment 80 80.%
Family protection 100 100%

INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
80.71% of the Respondents opted for saving / Investments

RESPONSE NO. OF RESPONDENTS SHARE (%)

Satisfied 60 60%
Not satisfied 40 40%
Not Responded 0 0.0%
Total 100 100%

INTERPRETATION
60% of the respondents are more or less satisfied with their existing policy.
40% of the respondents are not satisfied with their existing policy.
In this case all of those who have taken a policy have responded.

BIBLIOGRAPHY
1. BOOKS/MAGAZINES REFFERED:
STUDY GUIDE- PRINCILES & PRACTICES OF LIFE / GENERALINSURANCE, by AIMA.
Books published by INSURANCE INSTITUTE OF INDIA
GILL, Mc, LIFE-INSURANCE,
INSURANCEWATCH.
MONEYOUTLOOK.
2. WEBSITES REFFERED:
 www.hdfc life insurance.co.in
www.cifainsurance.com
www.moneyoutlook.com
www.insurance.ind.com
3. REPORTS/ARTICLES REFFERED:
REPORT: ISSUES & CHALLENGES FACING THE INSURANCE INDUSTRY…. Dec2005.
BRIEF PROFILE OF LIC, INDIA…Dec 2006.
REPORT: COPING WITH COMPETITION…Jan2007

Conclusion
Our exhaustive research in the field of Life Insurance threw up some intresting trends whic
People in general have been impressioned by the marketing and advertising campaigns of insu
Another heartning trend was in terms of people viewing insurance as a tax saving and invest
The general satisfaction levels among public with regards to policy and agents still requir

ANNEXURES
AND
QUESTIONNAIRE

QUESTIONNAIRE
ARE YOU EMPLOYED?
YES NO
If YES, only then proceed
DO YOU HAVE ANY INSURANCE POLICY?
YES NO
WHICH INSURANCE POLICY DO YOU HAVE?
LIFE NON-LIFE BOTH
WHICH CO’S INSURANCE POLICY YOU PREFER THE MOST? (RANK
a) LIC
b) HDFC STANDARD LIFE
c) SBI LIFE INSURANCE
d) ING VYSYA LIFE
e) RELIANCE LIFE INSURANCE
f) TATA AIG LIFE

g) ICICIPRUDENTIAL
h) ANY OTHER ________ (Specify)
FOR HOW MANY YEARS DO YOU HAVE INSURANCE POLICY? (Please Tick)
a) <5Yrs b) 5-10 Yrs c) 10-15 Yrs d) Any Other______
(Specify)

WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE COVER?

(RANK THEM)
a) COVER FUTURE UNCERTAINITY
b) TAX DEDUCTIONS
c) FUTURE INVESTMENT
d) ANY OTHER _________ (Specify)
WHICH FEATURE OF YOUR POLICY ATTRACTED YOU TO BUY IT?
(RANK THEM)
a) LOW PREMIUM
b) LARGER RISK COVERANCE
c) MONEY BACK GUARNTEE
d) REPUTATION OF COMPANY
e) EASY ACCESS TO AGENTS
f) ANY OTHER _________ (Specify)
8. YOUR MONTHLY INCOME?
a)<4k b)4k-8k c)8k-12k d)12k-16k e)Other_____(Specify)
9. DO YOU REALLY THINK INSURANCE POLICY COVER IN TODAY’S SCENARIO IS NOT ESSENTIAL?
10. WHAT’S YOUR PERCEPTION ABOUT INSURANCE?
(RANK THEM)
a) A SAVING TOOL

b) A TAX SAVING DEVICE

c) A TOOL TO PROTECT FUTURE
11. HOW HAS/WOULD YOU BOUGHT/BUY INSURANCE?
a) CUSTOMER APPROCHED INSURANCE COs
b) INSURANCE COs APPROCHED CUSTOMER
12. ARE YOU SATISFIED WITH THE POLICY?
a) SATISFIED SAVING TOOL

b) NOT SATISFIED
c) NOT RESPONDING
13. ARE YOU SATISFIED WITH THE SERVICE AGENT?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
14 DO YOU PAY TAXES?
YES NO
15. WHERE HAVE YOU INVESTED FOR TAX SAVING?
(RANK THEM)
a) LIC
b) NSC
c) BONDS
d) PPF
e) PF
f) EPF
16. WHICH IS THE BEST FORM OF INVESTMENTS?
(RANK THEM)
a) FIXED ASSETS
b) BANK DEPOSITS
c) JEWELLERY
d) SECURITIES, i.e. Bonds, MFs
e) SHARES
f) INSURANCE
17. WHAT DO YOU INTENT TO GAIN FROM INVESTMENTS?
A) SAVING & RETURNS
b) SECURITY
c) TAX BENIFITS
18. WHAT’S THE RIGHT AGE TO BUY INSURANCE?
a) AFTER 25 Yrs
b) AFTER 35 Yrs

c) AFTER 45 Yrs
d) ANYTIME
19. HOW WOULD YOU RATE INDIAN INSURANCE COs?
a) RIGID PLANS
b) NON-USER FRIENDLY
c) UNSATISFATORY SREVICES

d) NON-AGGRESSIVE
e) SATISFACTORY
f) GOOD
g) VERY GOOD
20. WHAT WOULD YOU LOOK FOR IN AN INSURANCE COs?
(RANK THEM)
a) A TRUSTED NAME
b) FRIENDLY SERVICE & RESPONSIVENESS
c) GOOD PLANS
d) ACCESSIBILITY

21. ARE YOU PLANNING FOR NEW INVESTMENTS?

PLANNING NOT PLANING

22. WOULD YOU GO FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVI
a) YES
b) NO
c) UNCERTAIN