Icici Prudential

GENERAL INFORMATION
N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
CHAPTER 1: GENERAL INFORMATION:1.1.1 Concept
Insurance market is one of the market, which had started to grow a few years ago, and with boom in this sector many private players and companies that came into existence, and ICICI prudential is one of them. The insurance market mainly depends on the people who have money to invest, to get a good return out of it and our project aim is to find out those prospect who can invest heavily on the financial market and by different ways by which we can reach them, such as: Bankers. Chartered Accountant. Investment Consultant Brokers
It is observed that most of the heavy investor usually consults their bankers, chartered accountant or their Investment Consultant before deciding on investing. This is as they feel them to be close. ICICI prudential tries to find out who are the people who can change their decision of investing in ICICI Prudential. Most of them are usually depend upon their CA, because he is the person who control the financial detail of his client and his decision are generally consider as one of the most truthful decision. So the main aim is to focus on: Chartered Accountants name Chartered Accountant, Detail. Clients Advisor Bank Name
1.1.2. About ICICI Prudential:ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential Life Insurance firm has garnered retail new business premium of Rs 6,684 crore till March 31 2008, registering a growth of 68 per cent over the last year, a top official said. The company had raised retail new business premium of Rs 6,684 crore for the fiscal ended March 31, company's Sr Vice President Poonam Bhardwaj told a reporters of economic times, adding that ICICI Prudential has underwritten nearly 3 million retail policies during the period.
ICICI Prudential Life is all about
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VISION:To make ICICI Prudential the dominant Life, Health and Pensions player built on trust by world-class people and service. This is what company hopes to achieve: Understanding the needs of customers and offering them superior products and service Leveraging technology to service customers quickly, efficiently and conveniently. Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to Companys policyholders Providing an enabling environment to foster growth and learning for Companies employees And above all, building transparency in all Companys dealings.
The success of the company will be founded in its unflinching commitment to 5 core values -- Integrity, Customer First, Boundary less, Ownership and Passion. Each of the values describes what the company stands for, the qualities of people and the way they work. Company believes that it is on the threshold of an exciting new opportunity, where it can play a significant role in redefining and reshaping the sector. Given the quality of parentage and the commitment of its team, there are no limits to its growth.
Mission
We strive to deliver our financial products and services in the way our customers expect: with exemplary service, maximum convenience and at competitive rates. This is reflected in our mission statement: to set the standard in helping our customers manage their financial future.
Lloyds Finance Fund Business Principles
As a global provider of financial products and services, Lloyds Finance Fund plays an important role in society. In order to fulfill this role it needs to maintain the confidence of its customers and employees by acting with professionalism and integrity. Lloyds Finance Fund attaches paramount importance to upholding its reputation, and the Lloyds Finance Fund Business Principles play an important role in this respect. Lloyds Finance Fund expects the highest levels of integrity from its employees, regardless of their position in the organization.
Culture
At Lloyds Finance Fund, our people are the heartbeat of our business. We are passionate about what we do, whether it is putting minds together to help a client make a smart funding decision, or providing management solutions to improve overall project financial structure. Lloyds Finance Fund was founded with an entrepreneurial spirit that is woven into our culture and engenders innovation at every turn. We have a strong corporate culture that is based on firmly held beliefs. We believe that our commitment to the interests of our clients proves our value to them. We believe that marketplace leadership is earned, not given. We believe that integrity is demonstrated by daily actions and that collaboration is the key to successful, long-term partnerships.
1.1.3: INTRODUCTION
Every asset has a value for its owner & also for those who are benefited with the existence of that asset. Insurance is concerned with the protection of economic value of assets. All are interested in the creation of assets because: All assets have values. They yield income to the owner. They meet some other needs of the owner, They may provide satisfaction of some needs & also yield income to the owner.
1.1.4
Definition of Insurance:
Perform & provide income to the owner. The owner, being aware of this, plans the things in such a way that by the time the expected lifetime of the asset expires he is ready with the funds required for its replacement. In this way, he ensures that the value or income the asset is not lost. Well, this appears to be a fine arrangement provided the asset completes its expected lifetime! All assets carry the risk of being destroyed or damaged. But all assets may not necessarily get destroyed or damaged. Only in a few instances, the probability turns out to be true and the asset gets actually lost or destroyed by accident or some other unfortunate event before the completion of its expected lifetime. The owner & those deriving benefits from the asset will suffer because the arrangement to make available its substitute is not yet ready.
Insurance is helpful in mitigating such adverse consequences. To sum up, assets are insured, as they are likely to be lost or made non-functional thought an accidental occurrence. Insurance does not protect the assets. This means that insurance cannot prevent loss to the assets due to perils. Nor can insurance avoid the occurrence of perils. It only compensates may not be fully, the economic or financial loss resulting to the assets from such damage or destruction.
1.1.5.
Brief History of Insurance
THE BEGINNING:The beginning of insurance business is traced to the city o1 London. It started with the marine business. Marine traders, who used to gather at Lloyds coffee house in London agreed to share losses to good during transportation by ship. Marine related losses included: o Loss of ship by sinking due to bad weather in high seas o Goods in transit by ship robbed sea pirates o Loss of or damage to the goods in transit by ship due to bad weather in high seas the first insurance policy was issued in England in 1583 LIFE INSURANCE IN INDIA:-
In India insurance started with life insurance. It was in 1870 when the British on their postings in India felt the need of life insurance cover. It started with an English company viz. The European & the Albert. The first Indian insurance company was the Bombay Mutual Assurance Society Ltd. Formed in 1870. In the wake of the Swadeshi Movement in India in the early 1900s, quite a good number of Indian compains were formed in various parts of the country to transact business. To name a few: Hindustan co- operative & National insurance in kolkaata, United India in Chennai.
NATIONALIZATION OF LIFE INSURANCE IN INDIA:-
In 1956 life insurance business was national & LIC of India came into being on 1.9.1956. The gov. took over the business of 245 companies who were life insurance business at that time. Thereafter LIC got the exclusive privilege to transact life insurance business in India. Relevant laws were amended in 1999 & LICs monopoly right to life insurance business in India came to end. At the close of financial year ending 31.3.2004, twelve new companies were registered with the insurance Regulatory & Development Authority to transact life insurance business in India.
1.1.6
Purpose & Need For Insurance:-
Assets are likely to be destroyed or made non-functional due to accidental occurrence called perils. A few examples of perils are: fire, floods, breakdowns, lighting & earthquake. Perils are the 88 events. Risks are the consequential losses or damages. Possibility of damage to asset caused by any peril is the risk that asset is exposed to. This is because of uncertainty about the risk that insurance plays the role. Insurance because relevant only if there are uncertainties of occurrence of event leanding to loss Insurance is done against the contingency that it may happen. No uncertainty no insurance.
1.1.7
THE HUMAN ASSET:-
Human life may be lost due to unexpected early death or become non-function following sickness or disabilities caused by accidents. Ifthis happen by the time one is on the verge of retirement when his income is about to cease, he might have made alternative arrangements to meet his needs. But if this happens at a younger age when he is not expected to have made adequate alternative arrangement, thoe who are dependent on his income will suffer.Insurance is necessary to help those dependent on the income. Human beings are exposed to another type of risk of living too long. A person, who has necessary arrangement to meet his financial needs after retirement also would need insurance. It is because the arrangement would have been insurance. One assumption can be that he will live for another 20 years. Still another can be that he will earn an insteret of 10% yearly on his investment. This
means that living too long is as much a problem as dying too young. Insurance provides safeguard against these risks.
1.1.8.
INSURANCE OF INTANGIBLES:-
Basically insurance covers tangible assets such motor car, factory or human life. But the concept has been extended to the coverage of intangibles. Some examples can be: Exporters may be lose if the importer in the other country defaults or the currency exchange rate undergoes a change or there is political disturbance. Insurance is available to cover such risks. In certain countries, the voice of a singer of even the legs of a dancer may be insured. People are exposed to risks the consequences of which are difficult to be borne by an individual.
1.1.9 MECHANISM OF INSURANCE: The concept of insurance is thato People exposed to the same risk come together & agree to share a loss collectively if any one of their members suffers it form that risk The insurance companies play the role of implementing this concept o o They bring together people exposed to the similar risk. They collect members contribution in advance in the shape
of premiums & create a fund out of which the losses are paid
income stops suddenly. the breadwinner.
In the event of breadwinners death, the family The family income may also stops on retirement of Life Insurance covers the above contingencies and Variable needs for life insurance can be o Providing finical security for the family o Provision for education, marriage etc of children in. o Special needs like Medical /expenses.
provides relief to the family in the event of death or retirement of the breadwinner.
Role Of Insurer The companies son ducting business of insurance are referred to as Insurers the terms insurance company and insurer, such are interchangeable. Insurance form a group of those persons who are exposed to the same risks. The shares collected from each of them, are pooled together to create a common fund. Insurance role is that of a trustee & it has to ensure that nobody takes undue advantage. The Insurance does this by: o Preventing entry of people carrying higher risk though the process of underwriting of risk & o Preventing payment of claims on losses that are not accidental.
1.1.10. Insurance as A Social Security Tool:-
United Nations Declaration of Human Rights 1948 provides: Every one has a right to a standard of living adequate for heath & well being of himself & his family including food clothing, housing & necessary social services & the right to security in the event of unemployment widowhood, or other lack of livelihood in circumstances beyond his control- Where the breadwinner of a family dies, familys adverse economic stop to that extent, affecting the economic condition. Life Insurance helps in restoration of the adverse economic condition thus caused. Thus life Insurance business is complementary to the state efforts in social management. Social security is now a rowing concern for all countries however, the provision made in this field vary form country to country. Part of obligation under Article 41 is met by the state through the mechanism of life Insurance. Some social security schemes have been made by the state for economically weaker section of society.
1.1.11. Role Of Insurance In Economic Development: Investment are necessary for economic developments. Life Insurance plays a major role in mobilization of pubic savings. Looking to non-life business, industry trade would be seriously handicapped in the absence of Insurance cover relating to fire & engineering risks.
1.1.12.
Advantage Of Life Insurance:-
Life Insurance is not merely an investment or a saving device-much more then that. In life Insurance the amount which may range to 30 or even more years. Life Insurance has advantage over the other forms of savings: o Facility of nomination & assignment make the claim settlement easy on death o Life Insurance involves compulsory savings. o Tax benefits on premium paid as well as the amount received by way of claim o Loans can be raised against policy.
CHAPTER 2 :- INSURANCE SECTOR IN INDIA:The Insurance sector in India has come a full circle from being an open competitive market to nationalization & back to a liberalized market again. Tracing the development in the Indian Insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.
1.2.1 A brief history of the Insurance sector:The business of life Insurance in Indian in its existing form started in India in the year 1818 with the establishment of the oriental life Insurance company in Calcutta.
Some of the important milestones in the life Insurance business in India are: 1928: the Indian life Insurance assurance companies act enable the gov. to collect statistical information about both life & non- life Insurance business. 1938:earlier legislation consolidated amend to by Insurance act with the object of protecting the interest of the insuring public. 1956: 245 indian & foreign Insurance & provident societies taken over by the central government & nationalized. The general Insurance business in Indian, on the other hand, can trace its roots to the triton Insurance company ltd., the first general Insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general life Insurance business in India are:-
1907: the Indian mercantile Insurance ltd. Set up the first company to all classes of general Insurance business. 1957: general Insurance council, a wing of the Insurance association of Indian, frames a code of conduct for ensuring fair & sound business practices. 1968:- the Insurance act amended to regulate investment & set minimum solvency margins & the tariff advisory committee set up.
1.2.2 Insurance sector reforms:

In 1993 malhotra committee headed by former finance secretary & rbi governor R.N.Malhotra was formed to evaluate the Indian Insurance industry & recommend its future direction. In 1994 the committee submitted the report & some of the key recommendations included: Structure: Government stake in the Insurance companies to be brought down to 50% Government should take over the holding of gic & its subsidiaries so that these subsidiaries can act as independent corporation All the Insurance companies shoaid be given greater freedom to operate Competition:No company should deal in both life & general Insurance through a single entity Postal life Insurance should be allowed to operate in the rural market
Only one state level life Insurance company should be allowed to operate in each state.
Regulatory Body:-
The Insurance act should be changed An Insurance regulatory body should be set up Controller of Insurance should be made independent
Investment;Mandatory investment of lic life fund in gov. securities to be reduced from 75% to 50% GIC & its subsidiaries are not to hold more then 5% in any company. Customer service:-
LIC should pay interest on delays in payment beyond 30 days. Insurance companies must be encouraged to set up unit linked pension plans.
CHAPTER 3: Introduction of Different Department & organizational Process of ICICI Prudential.

ICICI Prudential is one of the fastest-growing life Insurance companies in Indian With the highest capital base of Rs.825cr. the organizational incorporates a team of more than 40000 well advisors with a dominant sale of more then 1 million policies. The company has setup offices in 67 location & 90 branches making operation easily accessible to consumers. ICICI Prudential sales force is the most productive in the industry. Regular sales & training programs ensure that they remain at the peak of performance always.
ICICI Prudential life insurance has a high brand recall rate of 92% the success of the company is found in its unflinching commitement to 5 cr. Value integrity, customer first boundary less. Ownership & passion & this have earned us the coverted outlook money best life insurance award.
CHAPTER 4 : PRINCIPLES
1.4.1 LIFE INSURANCE CONTRACTS
Every promise made by one party to anoyher, forming consideration for each other, is an agreement. In terms of Indian contract act, 1872 contract is defined aso To do an act: or o To abstain from doing an act A simple contract to be enforceable at law must have the following
essentials: o o o o o Offer & acceptance Consideration Capacity to contract Consensus ad idem Legality of the object
In Indian contract act 1872 governs the commercial contracts. A life insurance policy is a contract in terms of the Indian contract act 1872. These principle are applicable to both life & non-life classes of insurance.
1.4.2
Utmost good faith:
in ordinary commercial contract the parties are gov. by the principle of Caveat Emptor i.e.let the buyer beware. o So long as there is no attempt mislend & the answer are given truthfully, the question of avoiding the contract would not arise. o There is no need to disclose the information, which is not asked for. Non disclosure of theses facts may adversely affect the interest of & there by the community of policy holders. As such the law imposes a duty on proposer to fully disclose all This principle of utmost good faith is called uberrimae fides. Utmost good faith can be defined asA positive duty to disclose, accurately & fully, all the facts material to the risk being proposed. It is not for the propose to decide which fact is material to the risk. Facts which neeed not be disclosed: o Facts of low. o Facts which a survey would have revealed. o Facts which lessen the risk. In life insurance contractso There is a printed proposal form, o It includes a declaration by the propose at the end of the proposal form o The proposre declares therein that all statements in the proposal form tire true in every respect, &
the insurance
material facta which are necessary for the insurance to assess & accept the risk/
o The insurance will be entitled to treat the contract as null & void & forfeit all the monies paid therefore.
Warranty & section 45 of insurance Act, 1938 However, section 45 of insurance act, 1938 provides some safeguard to the insurance. This doctrine of warranty will not apply after a period of two years from the date of the risk on grounds of inaccurate or false statement unless it is proved to be material or fraudulent
1.4.3. INSURABLE INTEREST: Insurable interest is legal pre-requisite for insurance. There is no single definition of Insurable Interest universally accepted. However, it can best be explained as under The primary interest of a person in the object of insurance ( such as a house, car, machinery or life ) which gives him the right tp take insurance and sp to say this is insurable interest. The Insurance Act 1938 does not define insurable interest. Essential of Insurable Interesto There must be some property, right, interest, life, limb of potential liability capable of being insured i.e. capable financial measurement. o Objects cited in (a) above must be subject matter of insurance. o The insured ,ust stand in a relationship with the subject matter of insurance whereby he benefits by its safety and is prejudiced by loss or damage. o Law must recognize the relationship berween the insured and subject matter of insurance. o o Some example that show the presence of Insurable interest: Partners have insurable interest in the life of co_-artners. A company has an insurable interest in the life of a key valuable officer.
Courts in India have consistently held that an
insurance on the life of a person, in which the person effecting insurance has no insurable interest, is void as a wagering cpmtract under Section 30 of the Indian Contract Act.
1.4.4. PRINCIPLE OF INDEMNITY

Insurance cannot be used as a means to make profit out of it. The mechanism of insurance is meant to compensate losses. Simply put, insurance should not place the Insured in a better financial position after loss as he enjoyed before the loss. This broadly is the principal of indemnity. Indemnity and insurable interest are linked together. It is the insureds financial interest in the subject matter of insurance that is insured. Therefore, amount of compensation on claim cannot be more than the extent of insurable interest. In the case of life insurance, insurable interest in ones own life is unlimited. Therefore, the principle of indemnity is not applicable to life insurance contracts.
1.4.5 DIFFERENT RISKS

Life Insurance deals with the risk related to the life of human being. The perils that create the risks are death & old Insurance does not prevent the perils- it can ease the in those circumstances. Human being run the following risks alsoo Sicknessmedical cost may be too burdensome: o Accidentsresulting in disability & o Unemployment- resulting in stoppage of regular income.
CHAPTER 5 : BASIC PRODUCTS 1.5.1 BASIC Elements:Primary purpose of life insurance is to give financial protection against the following two risks to which a person is exposedo Risk of an early death, because family & dependents need financial protection in the event of death of the breadwinner o Risk of living too long, because those who live too long also need assistance through insurance As such, following are the two basic element of life insurance . Products: o Death cover & o Survival benefit Life insurance product are usually called plans of insurance. The two basic plans catering to the aforesaid elements are All the life insurance plans are combination of the two basic plans viz. term assurance & pure endowment. The most common combination for example are referred to as o Endowment plans:
o Money back endowment plan: o Double endowment plans:
1.5.2. Basic features of life insurance productsAny single life insurance product cannot meet all the need for financial security of an insuring prospect. Yet there are certain features which are significantly relevant to financial security, these may be-
Target life assured that may be o An individual adult o A minor o More then one person jointly under one policy Quantum of sum assured o installments. o policy term. o o premium. o Some popular plans in their generic terms are given below without going into their marketing names. Increase or decrease in sum assured. Addition benefits by way of riders on payment of additional Risk coverage term risk coverage may even go beyond the Mode of sum assured payment may be in lump sum or in
1.5.3 POPULAR PLANS: TERM ASSURANCE PLANS:
This is the cheapest form of life insurance. The sum assured is payable only on death of the life assured during the specified period no death, no payment. Available variants of terms assurance plans are Short term policies: normally with 2- year term single premium payment Long term policies: range form 5 years to whole life of the life assured. Decreasing sum assured policies: while decreasing sum assured policies are suitable to cover outstanding loan & interest in mortgage transactions, increasing sum assured those keen for their increasing need of familys financial protection seek policies. Premium payment may be over the period of the policy term or until death or up to a specified limited period.
Endowment plans: o Ordinary endowment plan:
the policy term. the term.
A lastest variant of endowment plan is the continued
coverage of death risk even after payment of the last survival benefit on maturity of Premium payment may be until death if it occurs during the
policy term or through the policy term, or even upto a specified limited period of
Money Back Endowment Plan
Money back endowment policy is also referred to as anticipated endowment plan. Joint life endowment plan Another variation of a joint life plan is thus On death of either of them within the policy term, claim amount is paid to the survivor Future premiums are waived & Risk coverage for the survivor continues untial expiry of the policy term or his death if earlier.
1.5.4
Riders:-
o As per IRDA regulation, notified in April 2002 & amended in October 2002 Total premium on all the health related riders shall not exceed the basic premium of the main policy, Total premium on all other riders put together shall not exceed 30% of the basic premium of the main policy. o survival benefit. N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI Some of the riders offered by insurance in India are-
Double accident benefit provides for double the sum assured Increased death benefit, being twice or even more than the
if death occurs in an accident.
Permant disability benefit covering loss of limbs, hearing, Premium waiver benefit, particular under childrens plan Increased cover within specified limits or dates.
eyesingt, speech etc.
CHAPTER 6. PROMOTERS:1.6.1. ICICI Bank:ICICI was founded by the World Bank, Government of India and representatives of the private sector in 1955 to encourage and assist industrial development and investment in India.
ICICI Bank is Indias
second-largest bank with total assets of about Rs.112, 024 Crore and a network of about 450 branches and offices and about 1750 ATMs. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital, asset management and information technology. ICICI Bank posted a net profit of Rs.1637 Crore for the year ended March 31, 2004. ICICI Banks equity shares are listed in India on stock exchanges at Chennai, Delhi, Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).The Various segment of ICICI are .
1.6.2. Prudential plc:Established in London in 1848, Prudential plc, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 16 million customers, policyholder and unit holders worldwide. As of June 30, 2004, the company had over US$300 billion in funds under management. Prudential has brought to market an integrated range of financial services products that now includes life assurance, pensions,
mutual funds, banking, investment management and general insurance. In Asia, Prudential is the leading European life insurance company with a vast network of 24 life and mutual fund operations in twelve countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. The company has six Bancassurance tie-ups, having agreements with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank and some cooperative banks, as well as over 150 corporate agents and brokers. It has also tied up with NGOs, MFIs and corporates for the distribution of rural policies and organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially and economically underprivileged sections of society. ICICI Prudential has recruited and trained about 2,14,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service to customers.
1.6.3. Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its 27 products can be enhanced with up to 6 riders, to create a customized solution for each policyholder.
Savings Solutions:
Secure Plus is a transparent and feature-packed savings plan that offers 3 levels of protection. Cash Plus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options. Save n Protect is a traditional endowment savings plan that offers life protection along with adequate returns. Cashbook is an anticipated endowment policy ideal for meeting milestone expenses like a childs marriage, expenses for a childs higher education or purchase of an asset.
Lifetime & Lifetime II offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options- Preserver, Protector, Balancer and Maximiser.
LifeLink II is a single premium Market Linked Insurance Plan which combines life insurance cover with the opportunity to stay invested in the stock market. Premier Life is a limited premium paying plan that offers customers life insurance cover till the age of 75. Invest Shield Life is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest. Invest Shield Cash is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with flexible liquidity options.
Invest Shield Gold is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with limited premium payment terms.
1.6.4. Protection Solutions:
Lifeguard is a protection plan, which offers life cover at very low cost. It is available in 3 options- level term assurance, level term assurance with return of premium and single premium.
Child Plans
SmartKid education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the childs life. SmartKid plans are also available in unit-linked form- both single premium and regular premium.
Retirement Solutions:
Forever Life is a retirement product targeted at individuals in their thirties. SecurePlus Pension is a flexible pension plan that allows one to select between 3 levels of cover.
1.6.5. Market-linked retirement products:
LifeTime Pension II is a regular premium market-linked pension plan Life Link Pension II is a single premium market-linked pension plan. N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
Invest Shield Pension is a regular premium pension plan with a capital guarantee on the investible premium and declared bonuses.
ICICI Prudential also launched- Salaam Zindagi, a social sector group insurance policy targeted at the economically underprivileged sections of the society.
Group Insurance Solutions:-
ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.
ICICI Pru Group Gratuity Plan: ICICI Prus group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations.
ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement.
ICICI Pru Group Term Plan: ICICI Pru?S flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.
Flexible Rider Options:ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer.
Accident & disability benefit: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the sum assured under the policy. If the death occurs while traveling in an authorized mass
transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit.
Accident Benefit: This rider option pays the sum assured under the rider on death due to accident. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death.
Major Surgical Assistance Benefit: provides financial support in the event of medical emergencies, ensuring benefits are payable to the life assured for medical expenses incurred for surgical procedures. Cover is offered against 43 surgical procedures. Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till maturity, in the event of the death of the life assured. It is available on SmartKid, SecurePlus and Cash Plus
Waiver of Premium: In case of total and permanent disability due to an accident, the premiums are waived till maturity. This rider is available with SecurePlus and Cash Plus.
1.6.6DISTRIBUTION:
ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in almost all major cities and towns in India. Example: Agra, Ahmedabad, Ajmer, Allahabad, Amritsar, Anand, Aurangabad, Bangalore, Bareilly, Bharuch, Bhatinda, Bhopal, Bhubhaneshwar, Calicut, Chandigarh, Chennai, Coimbatore, Dehradun, Durgapur, Faridabad, Goa, Guntur, Guwhati, Gurgaon, Gwalior, Hyderabad, Hubli, Indore, Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kochi, Kolkata, Kolhapur, Kota, Kottayam, Kozhikode, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mehsana, Mumbai, Mysore, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune, Raipur, Rajkot, Ranchi, Rourkela, Saharanpur, Salem, Shimla, Siliguri, Surat, Thane, Thrissur, Trichy, Trivandrum, Udaipur, Vadodara, Vapi, Vashi, Vijayawada and Vizag.
1.6.7. Structure of the Sales Function

ICICI Prudentials sales function is divided into two functional structures within the organization. These two Structures are:
Bancassurance & Alliances Tied Agency
Both types of structures are described as follows:
Bancassurance & Alliances: Bancassurance or Banca: - ICICI Prudential was a pioneer in offering life insurance solutions through banks and alliances. Within a short span of two years, and with nearly a large number of partners, B & A has emerged as a vital component of the companys sales and distribution strategy, contributing to approximately one third of companys total business.
The business philosophy at B&A is to leverage distribution synergies with there partners and add value to its customers as well as the partners. Flexibility, adaptation and experimenting with new ideas are the hallmarks of this channel. The business philosophy at B&A is to leverage distribution synergies with its partners and add value to the business of both. Banc assurance Team includes:
Banks
ICICI Bank Federal Bank South Indian Bank Bank of India Lord Krishna Bank Some co-operative banks
Corporate Agents
Bajaj Capital India Infoline Way 2 Wealth Advanced Financial Services (Karvy) Blue Chip AHS APS Strategic Marketing Pvt. Ltd. S M Insurance Investment Managers Emgee Muthoot Insurance N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
CHAPTER 7. SWOT Analysis:-
1.7.1. STRENGTH: Brand Name of ICICI:-The name of the ICICI is known in all over the country as number one bank in the private sector and this is the name which people have trusted for many years, which is mainly due to the ICICI Bank. So ICICI Prudential, do not have the crises of the brand name STRONG FINANCIAL BACKING: - the ICICI prudential had a strong financial backing from their promoter, (ICICI BANK and Prudential), which help the company to build trust on the mind of the people. STRONG SALES FORCE: - The Company has a very strong force of good marketing brain, which gives an edge over the other competitor especially nationalized insurance company like LIC. And secondly it has a very good distribution channel which helps the company to get more clients from these reliable sources. These channel include Allied Banks like
ICICI Bank Federal Bank South Indian Bank Bank of India Lord Krishna Bank Some co-operative banks
Corporate Agents
Bajaj Capita India Infoline Way 2 Wealth Advanced Financial Services (Karvy) Blue Chip AHS APS Strategic Marketing Pvt. Ltd. S M Insurance Investment Managers
Allied Corporate Agencies Strong Marketing and Sales Promotion team ULIPs: Almost 90% of the total business of ICICI Pru is the business with the sale of ULIPs and only 10% of the products are the traditional insurance policies. So this is the strength which ICICI Pru can work upon more to get the maximum positive results.
1.7.2. WEAKNESS:N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
Lack of Information about the product:-Most of the product of the ICICI Prudential are known by the people, this is because of lack of information about the product and bad marketing strategies by the company mainly in small cities FOCUSING
MAINLY ON THE URBAN SECTOR:-ICICI
prudential mainly focus on the urban sector of the country, where the competition is very tuft and are not concentrating on the other sector of the country mainly in the rural sector where there. Most of the Plans are too complicated:-ICICI Prudential insurance plan are too complex to understand for a layout person, and this makes most of the people to avoid this plan because they feel difficulties to understand. The same is in the case of Mutual Funds.
RESEARCH METHODOLOGY
2.1 RESEARCH OBJECTIVES:
Basic objective of the research is to study consumer awareness regarding the insurance products.
To achieve the primary objective, some other secondary objectives are as under.
To know the preference & awareness of respondents about life insurance according their age. To know the how many members in a family of respondents. In this question, to know the respondents invest their money in which market highest & lowest level. To know the how many person have insurance policy. To know the market share of insurance companies. To know the how many person are interest to invest in private sector. To know the awareness of the company among the people. To know the sources form where people get the information To know the current liabilities of the respondents. To know that which plan is more popular among the people the about ICICI prudential life insurance.
2.2 Research Design:
Conclusive Research: o In conclusive research we are using Descriptive Research o In descriptive Research we are using Cross Sectional Design.
2.3 Research Plan 2.3.1 DATA SOURCE:
There are two type of the data sources Primary data source Secondary data source
Primary data : survey of insurance market in general & consumer o it.
Secondary data: Promotional document of different brands which include price, margins,
schemes, etc. it is collected through website, magazine etc. 2.3.2 Research Approch: Survey of customers.
2.3.3
Research Instrument:
Questionnaire design specifying information needed.
2.4 SAMPLING PLAN
2.4.1 SAMPLING UNIT:

PEOPLE HAVING OR NOT HAVING LIFE INSURANCE.
2.4.2
SAMPLE SIZE:-
Survey is conducted on 100 persons from Kalol
2.4.3
SAMPLE TECHNIQUE:
Stratified sampling: With stratified sampling we will use quota sampling for consumers.
2.4.4. CONTACT METHOD:-
Person interview or field work.
2.5
LIMITATION OF SURVEY:
The sample size that I will chosen is 100 customers, which is very small to properly represent the entire population. The opinions expressed by the respondent might be biased. Because of lack of time, there will be a limitation of a geographical reach. So, I have included only some of the areas of Kalol.
DATA INTERPRETATION
Q. (1) AGE WISE ANALYSIS ON LIFE INSURANCE. TO know the preference & awareness of respondance about life insurance according their age. FINDINGS: Class No. of people (in %) 20-25 15% 26-30 26% 31-35 13% 36-40 22% 40-45 9% 46-50 7% 51-55 5% 56-60 3%
AGE
30% 25% 20% % 15% 10% 5% 0% 20-25 26-30 31-35 36-40 40-45 46-50 51-55 56-60 56-60 51-55 46-50 41-45 36-40 31-35 26-30 20-25
INTERPRETATION: From the above chart & diagram, we can that the highest percentage of people having an insurance lie between the age group 26 to 45years, while the lowest is below 26 years & above 50 years. So, the opportunity is there to focus on people having the age less than 25 years. It should focus on the plans targeting at that age group like childrens plan & other plans that helpful to them for different purpose like study purpose, marriages, etc.
Q. (2) GENDER WISE ANALYSIS ON LIFE INSURANCE. FINDINGS:
Gender No. of people ( in %)
Male 94%
Female 6%
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
male female
MALE
FEMALE
INTERPRETATION: From the above chart & diagram, we can that the highest percentage of people having an insurance lie between the age group 26 to 45years, while the lowest is below 26 years & above 50 years. So, the opportunity is there to focus on people having the age less than 25 years. In gender wise analysis of life insurance there are 94% male & 6%female.
Q. (3) OCCUPATIONWISE ANALYSIS ON RESPONDENTS.
FINDINGS: Occupation No. of people ( in %) Service 21% Business 59% Agriculture 11% Student 7%
Occuption
60% 50% 40% 30% 20% 10% 0% service business agriculture student service business agriculture student
INTERPRETATION: From the above chart & diagram, we can see that the number of persons involved in agriculture occupation has no insurance policy from the sample surveyed because they have irregular flow of income, which cause them not to prefer insurance having the regular expenses. So, they are more concern about their future contingencies. While the business people prefer insurance because the insurance is the source of tax benefits for them. Also now- a-days, the number of students having the insurance policy has been increased because the importance of high studies has increased that are costly affairs for the majority of the students.
Q. (4) ANALYSIS ON THE BASIS OF TOTAL NUMBER OF FAMILY MEMBERS.
FINDINGS:
Class No. of people ( in %)
1-4 60%
5-8 40%
9-12 0%
Family Members
60% 50% 40% 30% 20% 10% 0% class
3-D Column 1 3-D Column 2 3-D Column 3
INTERPRETATION:
From the above chart & diagram we can see that the highest % of insurance policy are purchased by the family having 1 to 4 member because today there are the growth of nuclear families that are small in number of members. Also the large families are found in semi urban or rural areas where the people are not much aware about the various insurance policies or the benefits of having insurance.
Q. (5) CLASSIFICATION ON THE BASIS OF INCOME. FINDINGS:-
INCOME NO.OF PEOPLE
RS. 5000-10000 10000-15000 22% 48%
15000-20000 21%
MORE THAN 20000 6%
50% 40% 30% 20% 10% 0% 5000-10000 10000-15000 15000-20000 MORE THAN 20000 5000-10000 10000-15000 15000-20000 MORE THEN 20000
INTERPRETATION: From the above chart & diagram, we can see that there are not many variations in the number of persons having insurance polices in any of the income group categories. There are 22% of the people having insurance policy among the having income less than 10000 Rs. , while the number of person having the income group between 10000-15000 Rs.its 48%. There are 21%of the people having insurance policy among the having income Rs. 15000-20000. & more then 20000 Rs. Are 6% respectively. Also now-a- day the insurance policy contains the investment of the premium amount in many sources which will give addition returns to the policy holders, which has moderate risk & fair return also. N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
Q. (6) DO YOU HAVE ANY INSURANCE POLICY? FINDINGS:INSURANCE POLICY NO. OF PEOPLE ( IN % ) HAVING INSURANCE 92% NOT HAVING INSURANCE 8%
INSURANCE POLICY
100% 80% 60% 40% 20% 0% HAVING NOT INSURANCE HAVING INSURANCE HAVING INSURANCE NOT HAVING INSURANCE
INTERPRETATION:From the above chart & diagram, we can see that most of the people have invested in insurance. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. If the survey also covers the rural area or exclusively rural areas, the outcome could have been different.
Q. (7) WHICH COMPANYS INSURANCE POLICY DO YOU HAVE? FINDINGS;COMPANY LIC ICICI PRUDENTIAL 80% OTHERS 5%
MARETSHARE (IN 23% %)
MARKET SHARE
80% 60% 40% 20% 0% LIC ICICI OTHER LIC ICICI OTHER
INTERPRETATION:From the above chart & diagram, we can see that of the people have invested in INSURANCE. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. But, the trend is towards the increasing faith of the people in the private sector companies. Also ICICI has the highest market share in life insurance market among the private sector firms.
Q. (8) PATTERN OF INVESTMENT FINDINGS:-
INVESTMENT PATTERN NO. OF PEOPLE (IN %)
F.D. IN BANK 15%
SHARES 15%
INSURANCE 83%
P.P.F. 1%
PATTERN OF INVESTMENT
100% 80% 60% 40% 20% 0% F.D. IN BANKS SHARES INSURANCE P.P.F. F.D. IN BANKS SHARES INSURANCE P.P.F.
INTERPRETATION:From the above chart & diagram, we can see that of the people have invested in the from F.D. in banks or insurance policy. While the insurance is also the safer investment as LIC was the dominating firm in the past. Other reasons for the popularity of insurance are that it is exempted from the tax & also the form of regular savings for the policy holders & also give assured return in the future. If the survey also covers the rural area or exclusively rural areas, the outcome could have been different.
Q. (9) HOW MANY PRIVATE LIFE INSURANCE COMPANY DO YOU KNOW? FINDINGS:COMPANY NO. OF PEOPLE (IN %) ICICI 92% KOTAK 17% MAX 51% BAJAJ 24% HDFC 13% BIRLA SUNLIFE 10%
PRIVATE LIFE INSURANCE
100% 80% 60% 40% 20% 0% ICICI KOTAK MAX BAJAJ HDFC BIRLA SUNLIFE BIRLA SUNLIFE HDFC BAJAJ MAX KOTAK ICICI
INTERPRETATION: From the above chart & diagram, we can see that of the people have invested in INSURANCE. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. Also ICICI & HDFC have the highest market share in life insurance market among the private sector firms. These firms have the higher coverage in semi- urban & rural areas then the other life insurance companies. It has created the marketing for the insurance products also. N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
Q. (10) YOU LOOK TOWARDS INSURANCE AS AN INSTRUMENT OF WHICH? FINDINGS:OPTIONS NO. OF PEOPLE (IN %) SAVING TAX 6% INVESTMENT 28% PROTECTION OF FAMILY 61% HEALTH CARE 10%
INSURANCE AS AN INSTRUMENT
70% 60% 50% 40% 30% 20% 10% 0% SAVING TAX INVESTMENT PROTECTION OF FAMILY HEALTH CARE
SAVING TAX INVESTMENT PROTECTION OF FAMILY HEALTH CARE
INTERPRETATION: From the above chart & diagram, we can see that of the people have invested in INSURANCE. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. As the survey has been done in the urban areas, we can see these results. If the survey also covers the rural area or exclusively rural areas, the outcome could have been different.
Q.(11) DO YOU INVEST IN PRIVATE INSURANCE? FINDINGS: PRIVATE INSURANCE NO. OF PEOPLE YES 94% NO 6%
NO OF PEOPLE
100% 80% 60% 40% 20% 0% YES NO YES NO
INTERPRETATION: From the above chart & diagram, we can see that of the people have invested in INSURANCE. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. Also ICICI have the highest market share in life insurance market among the private sector firms. Other important factor responsible for the low faith of the people in the private sector companies is the low coverage of the private insurance companies in semi urban or rural areas. Low coverage creates the awareness, which will end in the low faith.
Q. (12) CRITERIA FOR SELECTION OF INSURANCE SCHEME FOR SELF & FAMILY MEMBERS. FINDINGS: FACTORS NO. OF PEOPLE (IN %) REPUTATION OF THE COMPANY 71% MONTHLY/ ANNUALY PREMIUM 36% INCOME TAX BENEFIT 8% HEALTH CARE BENEFIT 25%
80% 70% 60% 50% 40% 30% 20% 10% 0% REPUTATION MONTHLY INCOME TAX HEALTH OF PREMIUM BENEFIT CARE COMPANY BENEFIT
REPUTATION OF COMPANY MONTHLY PREMIUM INCOME TAX BENEFIT HEALTH CARE BENEFIT
INTERPRETATION:From the above chart & diagram, we can see that of the people have invested in INSURANCE. The insurance is the safer investment as LIC was the dominating firm in the past. One of the main reasons for the growth of the insurance market is that now- a day insurance policies are more innovative in terms of fulfilling requirement of various classes of people because of the entering many private sector companies in the industry. But people investment in insurance to take income tax benefit, health care benefit. Low coverage creates the awareness, which will end in the low faith.
Q. (13) DO YOU HAVE ANY INFORMATION ABOUT VARIOUS POLICIES OF ICICI PRUDENTIAL LIFE INSURANCE? FINDINGS:INFORMATION NO. OF PEOPLE (IN %) YES 95% NO 5%
INFORMATION
100% 80% 60% 40% 20% 0% YES NO YES NO 3-D Colum n 3
INTERPRETATION: From the above chart & diagram, we can see that of the awareness ratio for ICICI life insurance polices is 95%. There may be certain reasons behind this outcome. On the negative side, there are lots of plans offered by the ICICI prudential, so the most of the people are interested in those plans, which are of their interest area. So an overall this outcome is fair in terms of awareness among private sector companies.
Q. (14) WHERE/ WHOM DO YOU GET INFORMATION ABOUT ICICI PRUDENTIAL LIFE INSURANCE? FINDINGS:SOURCES NO. OF PEOPLE (IN %) AGENT 69% T.V 17% FRIENDS 32% NEWSPAPER 11% OTHER 0%
SOURCES OF INFORMATION
80% 60% 40% 20% 0% AGENT T.V. FRIENDS NEWSPAPER OTHERS. OTHERS. NEWSPAPER FRIENDS T.V. AGENT
INTERPRETATION: From the above chart & diagram, we can see that of the people have invested in INSURANCE company to market their products is agents. So, the personal selling will be the most effective source for marketing of the insurance products. Newspapers & magazines are also effective for the general public awareness & especially for the business class people. These are more useful to create awareness for the new products awareness.
Q. (15) WHAT ARE LIABILITIES THAT YOU HAVE CURRENTLY? FINDINGS:LIABILIT IES PERSONAL LOAN HOME MONTH FINANCIAL LOAN LY/ PLAN ANNUA LLY EXPEN SES 4% 22% 57% MARRIAG E CHIL DREN EDUC ATIO N 18%
NO. OF PEOPLE (IN %)
2%
8%
CURRENT LIABILITIES
60% 50% 40% 30% 20% 10% 0% PERSONAL LOAN CHILDREN EDUCATION FINANCIAL PLAN
MARRIAGE FINANCIAL PLAN HOME LOAN CHILDREN EDUCATION MONTHLY EXPENSES PERSONAL LOAN
INTERPRETATION: From the above chart & diagram, we can see that most of the expenses of the people are in the form of general monthly expenses & children education. So we may conclude form this survey that the company should focus on the childrens plan & monthly income plan, which will assure the continuous minimum monthly income at the future date. N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI
Q. (16) WHICH PLANS DO YOU PREFER FORM FOLLOWINGS? FINDINGS: PLAN S PURE RISK COVE R PLAN 17% CHIL D PLA N 5% UNIT LINK ED PLAN 36% RETIREME REGUL NT PLAN AR SAVING SCHEM E 5% 26% ENDOWME OTHE NT RS
NO. OF PEOP LE (IN %)
13%
2%
PLANS
40% 35% 30% 25% 20% 15% 10% 5% 0% PURE RISK COVER
RETIREMENT
OTHERS
OTHERS ENDOWMENT REGULAR SAVING RETIREMENT UNIT LINKED CHILD PURE RISK COVER
INTERPRETATION: From the above chart & diagram, we can conclude that the most of the expenses of the people are in the form of general monthly expenses & children education. So as shown above the childrens plans & regular savings plan are among the most popular plans of ICICI prudential. Also the ICICI prudential is also giving fair return on various unit linked schemes.
FINDINGS:
undue advantage. IRDA is subject to the provision of this act & any other law for the time being in force, the authority shall have the duty to regulate, promote & ensure orderly growth of the insurance business & re-insurance business. One of the most critical demographic events in the world today is the population ageing i.e., a process by which share of older individual in the total population starts becoming larger. Insurance companies have been in the forefront to adopt the latest Premium is the amount, which is paid by the insured to the insurer for The important activities of an ICICI prudential are business oriented In the case of ICICI life insurance marketing force comprising of ICICI prudential has marketing research & development & the advances in technology. an insurance contract. In other words, premium is the price for a policy. activities, customer service oriented activities, and support oriented activities. agents & development officers forms the distribution channel. structure. The direct marketing & other promotional efforts done by other The major tools of promotion strategy being used widely at the time of players increases the competition, which may affect the growth of the company. publicity. A life insurance agent is expected to procure life insurance business in a manner consistent with the interest of the policy holder & of the insurance company. launching a new product i.e. new plan of assurance are advertising, press conferences & competing products, ability to serve multiple segments & adaptable management Insurance is concerned with protection of economic value of assets. Insurers role is that of a trustee & it has to ensure that nobody takes
surrender value.
When a policy holder desires to terminate the policy contract, the
insurer offers to pay cash value on cancellation of policy contract. This is known as the
RECOMMADATION: o High market growth provides opportunity for the company to increase their role in increasing premium collections. o Large number of prospective customers has provided opportunity for the company to increase their operation to wider customer base. o Population is becoming aging which may hamper the effectively of providing insurance business. o The company should improve or add some other products in their product line to attract a large number of products.
CONCLUSION: ICICI prudential should increase the penetration in the current insurance market as the vast potential is available in the market. The awareness of the people is also increasing which increase the growth of the market. ICICI prudential should also look forward to product improvements also. They are also marketing certain necessary changes in the products at different intervals. So, it is necessary to improve or change the terms & conditions in the products as needed. Though ICICI prudential is the leading private sector company in the insurance industry, it still faces the stiff competition form the giant life insurance corporation of India dominating 87% market share of the total current market. All the private sector life insurance companies including ICICI prudential are in the question mark category because they maintain very low or negligible market share in the high growth life insurance industry. ICICI prudential life insurance company is the number one in the private sector.
QUESTIONNAIR
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD. Dear respondent, I am the student of N.P.Collage of computer studies & Mgt. as part of our academic curriculum in T.Y. B.B.A. Programmer. I have to submit a project on research. In this context. I am doing research on depth survey of consumer awareness. I requested to fill this questionnaire & help us in our study. I ensure you that database is for academic purpose only. (1) NAME : (2) AGE : (3) GENDER : (4) OCCUPATION : SERVICE BUSINESS (5) ADDRESS : (6) TOTAL NUMBER OF MEMBERS IN YOUR FAMILY (7) INCOME (MONTHY) : RS. 5000 RS. 10000 RS. 10000- RS. 15000 RS. 15000 RS. 20000 N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI AGRICULTURE STUDENT MALE FEMALE
(8) DO YOU HAVE ANY COMPANYS POLICY? (9) IF YES WHICH COMPANYS POLICY? (10) YOUR PATTERN OF INVESTMENT F.D. IN BANK SHARES INSURANCE P.P.F.
(11) HOW MANY PRIVATE LIFE INSURANCE COMPANIES DO YOU KNOW? ICICI PRUDENTIAL KOTAK MAHINDRA MAX NEWYORK LIFE (12) YOU LOOK TOWARDS INSURANCE AS INSTRUMENT OF: SAVING TAX INVESTMENT AS A SHIELD OF PROTECTION OF FAMILY FOR HEALTH CARE BAJAJ ALLIANZ HDFC STANDARD LIFE BIRLA SUNLIFE
(13) IF YOU HAVE TO INVEST IN INSURANCE, WILL YOU INVEST IN PRIVATE INSURANCE? YES NO
(14) YOUR CRITERIA FOR SELECTION OF INSURANCE SHCEME FOR SELF & FAMILY MEMBERS:
REPUTATION OF THE COMPANY MONTHLY / ANNUALLY PREMIUM INCOME TAX BENEFITS HEALTH CARE BENEFITS (15) DO YOU HAVE ANY INFORMATION ABOUT VARIOUS POLICIES OF ICICI PRUDENTIAL LIFE INSURANCE? YES NO
(16) SELECTION OF INSURANCE SCHEME FOR SELF & FAMILY MEMBERS ARE GIVE RANK ON DIFFERENT PRIVATE INSURANCE COMPANYS REPUTATION COMPANY MONTHLY PREMIUM INCOME TAX BENEFITA HEALTH CARE BENEFITS (17) WHERE / WHOME TO YOU GET INFORMATION ABOUT ICICI PRUDENTIAL LIFE INSURANCE COMPANIES? AGENT TELEVISION NEWS PAPER / MAGAZINE OTHERS ICICI PRUDENTIAL BAJAJ MAX-NEW ALIANZ YOURK LIFE HDFC STANDARD LIFE
FRIENDS / RELATIVES
(18) WHAT IS LIABILITIES DO YOU HAVE CURRENTLY? PERSONAL LOAN MONTHLY EXPENSES CHILDREN EDUCATION HOME LOAN FINANCIAL PLAN MARRIGE
(19) WHICH PLAN DO YOU PREFER FORM THE FOLLOWINGS:
PURE RISK COVER PLAN CHILD PLAN RETIREMENT PLAN UNIT LINKED PLAN
REGULAR SAVING SCHEME ENDOWMENT OTHERS
(20) ARE YOU, INTERESTED IN GETTING SOME MORE INFORMATION ABOUT ICICI PRUDENTIAL LIFE INSURANCE? YES NO
DATE:
TIME:
PLACE:
SIGATURE:
BIBLIOGRAPHY
BOOKS: Prasanna Chandra. Financial Management, Fifth edition. By Tata McGraw-Hill Publishing company limited. Ruddar Datt & K. P. M. Sundharam, 2003. Indian Economy, Forty-seventh revused edition By S.Chand & company. R. Narayanaswamy, 2003. Financial Accounting. By prentice hall of India private limited Thompson & Strickland.strategic management. Thirteenth Edition. By Tata Mc graw-hill publishing company limited.
WEBSITES: www.rbi.org.in www.ICICIbank.com www.indiainfoline.com www.iciciprulife.com Search engine like : www.google. com

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GENERAL INFORMATION

N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI

CHAPTER 1: GENERAL INFORMATION:1.1.1 Concept

N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI

N.P.COLLAGE OF COMPUTER STUDIES & MANAGEMENT. - KADI