A

SUMMER TRAINING REPORT

ON

CUSTOMER ATTITUDE TOWARDS LIC PRODUCTS

Submitted to
Kurukshetra University, Kurukshetra
in partial fulfilment for the degree of
Bachelor of Business Administration
(Session 2012-2015)

Under the supervision of:-

Submitted by

Mr. Rajan Kumar

Sonu Atri

Life Insurance Corporation

Roll no. 344

University Roll no.

Reg.no.12-SMTJ-28
BBA (2012-15)

S.D. INSTITUTE OF MANAGEMENT & TECHNOLOGY,

Huda Road, Jagadhri 135003 (YamunaNagar) Haryana
Phone : +911732224340, 225340 www.sdimt.co.in

Affiliated To
KURUSHETRA UNIVERSITY, KURUSHETRA.

DECLARATION

I hereby declared that this summer training report entitled CUSTOMER

ATTITUDE TOWARDS LIC PRODUCTS (life insurance corporation of

India) submitting for partial fulfillment of the requirement for the degree of BBA from
KURUKSHETRA UNIVERCITY, KURUKSHETRA is of my original work. This report
is only for education purpose and not for any other purpose.

Sonu Atri

ACKNOWLEDGEMENT

Co-operation and building up of moral are the essence of success. These are two factors
that go a long way in achieving it. It is a Herculean task, which lacks these two
determinants of success. Summer training was an exposure to corporate environment. It
was an opportunity and great pleasure for me to be in such an environment and having
interaction with concerned people.
I am highly obliged to Mr. RAJAN KUMAR ( LIC branch) who provided me the
opportunity for doing my summer training at LIC, and would like to thank him for their
guidance and help which had made it possible for me to complete my project work
successfully.
Finally, I would like to thank Dr. SHELLY GUPTA (Director), S. D. Institute of
Management and technology and Mrs. Sarika Sachdeva, my project guide at the
institute, for their enlightening and meticulous guidance for the consummation and
evaluating of this project.
I also wish to pay my sincere regards to all my respected teachers who helped me build a
concrete platform before sending me for training so that I can land out firmly in all
respects.
Sonu Atri
BBA final year

PREFACE

Practical knowledge is an important part of theoretical studies. It covers all that which
remains uncovered in the classroom. It offers all that which remains an invaluable
treasure of experience. It offers an exposure to practical of management of business
organization.
The field of insurance has taken a giant leap at the threshold of twentieth century.
Insurance have become an integral part of life of man all over the globe. The proverb
Need is the mother of invention is proving equally correct in case of insurance.
Insurance have already had a considerable impact on many aspects of our society. This
project on CUSTOMER ATTITUDE TOWARDS LIC PRODUCTS deals
with the automation of various activities done in insurance like how the insurance
companies doing there business and what is the feature of life insurance.
The research and methodology includes the research procedure, research, research
design, sample design, data collection and finally limitations of study. The methods used
for conducting survey are by preparing a structured questionnaire and then taking the
views of respective respondents.
The analysis of the research data is done with the help of tabulation and diagrammatic
representation of data in respect to attitude of people towards respective facilties. In last
the findings and suggestions, which came out after going through the whole survey of the
organization are mentioned.

TABLE OF CONTENTS
S. No.

Particulars

Pages

1.

Introduction to Industry

1-10

2.

Company Profile

11-44

3.

Research methodology

43-47

Objective of study
Limitation of study
4.

Analysis & Interpretation

48-57

5.

Findings

58-61

6.

SWOT

7.

Conclusion

63-64

8.

Suggestions

65-66

9.

Appendix

67-70

Bibliography
Questionnaire

62

EXECUTIVE SUMMARY
The desire to grow money is a natural instinct. But, as simple as the desire is, the process
to do so, is just as complex. The only real formula to grow money is, work hard, save
regularly and invest wisely. Different investment avenues are available to the investors
Retail Banking is a banking service that is geared primarily toward individual consumers.
Retail banking entities provide a wide range of personal banking services, including
offering current accounts, deposit accounts and savings accounts, bill paying services, as
well as debit and credit cards. Through retail banking, consumers may also obtain
mortgages and personal loans. Retail banking also provides a facility of investments to its
customers. People invest their money in order to get maximum return or profit like by
investing in fixed deposits they get a fixed amount of return after the maturity period. The
other main motto of people to invest their money is to get assurance of safety of their
money. The main investment avenues available in Indian market are:

Insurance
Bank fixed deposits
Bank recurring deposits
Money Market Instruments
Mutual Funds (equity)
Mutual funds (debt)
Post office accounts
PPF accounts
Commodities
Real Estate
Government securities
Shares

But the option to be chosen by the investor depends upon the requirement as well as the
ability or the capacity of the investor to invest.

Retail banking is expected to grow at a CAGR of 28% till 2010 to touch a figure of INR
9,700 billion. This requires expansion and diversification of retail product portfolio,
better penetration and faster service mechanism.
The project entitled To Learn Key Parameter of Life Insurance Business helped the
Bank to understand the scope of retail banking in certain areas of Jaipur city. Products
which have been covered in the study were saving a/c, Current a/c, fixed deposits and
loans provided by the bank.
The utility of project can be derive from the fact that today banks have diversified
products. Now saving account have many types of accounts. Current account have new
face i.e. Roaming Current account. Now Central bank came up with the idea of NO
FRILLS account.
This project includes one fold study. To gather a brief knowledge about the financial
products of Standard Chartered Bank like savings a/c, current a/c, term deposits,
recurring deposits, overdrafts, loans etc. and services like

phone banking, SMS

banking, net banking etc. To understand the customers behavior, their expectations &
strategies, how they react if any change occurs in methods, policies, interest rates, returns
provided by the related bank.