A

Project Report
On

“A STUDY OF CONSUMER BEHAVIOR OF RELIANCE

LIFE INSURANCE CO. LTD. FOR RURAL AREA”

Submitted To
UNIVERSITY OF PUNE

For the partial fulfillment of

MASTER DEGREE IN BUSINESS ADMINISTRATION

Submitted By
BHUSHAN GAUTAM SURANA

Under the Guidance of

PROF. YOGESH GOSAVI

Through
PIRENS’
INSTITUTE OF BUSINESS MANANGMENT
AND ADMINISTRATION (IBMA),
LONI (BK),TAL: RAHATA, DIST.-AHEMEDNAGAR,M.S. - 413736
(2008-10)
 DECLERATION

I undersigned hereby declares that, the project titled “A study of

consumer behavior of Reliance life insurance co.ltd for rural area ” Is

executed as per the course requirement of two year full time MBA program

of University of Pune. This report has not submitted by me or any other

university or institution for a degree or diploma course. This is my own and

original work.

Place: Loni (Bk.) Signature

Date: (Bhushan Gautam Surana)

 ACKNOWLEDGEMENT

Any purpose and its fulfillment requires deep rooted completion many

character play a vital role. This is more when a project is undertaken

directly towards a cause. I extent my gratitude and thanks to

M r. NANDKISHOR HARKUT Reliance life insurance Co. Ltd. Nashik.

This project without his co-operation it would have been difficult task

to accomplish this project. I would like to thanks my internal guide

Prof. Yogesh Gosavi without whose guidance, idea, and time to time

help, this project could not completed. I would never get that exhilarating

sense of accomplishment without his guidance.

I would also like to pay my heartiest thanks to all those who directly

or indirectly concerned in making my project successful.

To put in the shell and arduous, journey was made simple and

enjoyable.

Mr. B.G.SURANA
 PREFACE

The awareness levels must increase so that the product reaches the customer at his

door-step. The breakup of joint family system has created a greater need for security of

nuclear family. The diversified growth of economy calls for as new mind-set for

appreciation of risk in every activity of life therefore looking at the potential

opportunities and scope of growth in insurance sector I decided to pursue a summer

project in an insurance company it helped me to get a deep insight in to the working and

culture of an insurance company and immense knowledge about the insurance sector this

knowledge and experience would be of great help to me also in my future career

prospect. The project gives the overview of insurance sector, its history purpose and

current profile.

The main objective of this project is to find out the potential of insurance business

in the target segments according to the different age groups of people in that segment. In

addition effort has been done to find out the awareness about life insurance sector,

perceptions of the people in targeted segments. The existing companies as well as

companies seeking entry in the market in near future have a good potential business and

they need well-qualified and trained personnel at managerial and marketing levels this

sector has solid economic presence and is expected to grow very fast in the coming years.

The project report gives finding and observations about certain misconceptions about the

insurance sector and specially private sector insurance companies.

 INDEX

SR. NO CONTENTS PAGE NO

1 Introduction 1
2 Industry profile 4
3 Company profile 8
4 Product profile 16
5 Objective of the project 31
6 Research methodology 32

1. Primary Data 35

2. Secondary Data 36

3. Sample techniques 40

4. Scope of the study 41

5. Limitations of the study 42

7 Theoretical background of the study 43
8 Data analysis and interpretation 50
9 Findings 65
10 Recommendations 66
11 Conclusion 67
12 Bibliography 68
Annexure 69