A PRESENTATION ON CUSTOMERS PROSPECTIVE ON UNIT

LINKED INSURANCE PRODUCTS IN METLIFE INDIA INSURANCE

COMPANY LTD., BERHAMPUR
By
NIST BUSINESS - SHCOOL

SIBANANDA PATRA

Roll # 200910631 Regn. # PGDM09631

Under the guidance of

Company Guide Internal Guide

Mr. Akshyendu Sekhar Pattanaik Dr. B. Pavan Kumar
Sales Manager Asst. Professor (HR)
NIST, Berhampur

NIST BUSINESS SCHOOL

PALUR HILLS, BERHAMPUR, ORISSA – 761008, INDIA

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 INTRODUCTION TO INSURANCE
 INSURANCE
NIST BUSINESS - SHCOOL

A promise of compensation for specific potential future losses in

exchange for a periodic payment.

 TYPES OF INSURANCE
 Life insurance
 Non - life insurance (General Insurance)

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 INTRODUCTION TO ULIPS.
 UNIT LINKED INSURANCE PRODUCTS
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 Flexible
 Transparent
 Provide better return on investment
 Tax benefits
 TYPES OF ULIPS
 Retirement
 Wealth
 Children education or marriage
 health

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 OBJECTIVE OF STUDY
 PRIMARY OBJECTIVE
To know about customer perspective of Unit Linked Insurance Plans.
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 SECONDRY OBJECTIVE
 Assessment of customer satisfaction
 Assessment of corporate culture
 To identify whether the customers are aware of the ULIPs
 To analyze the factor(s) to increase the sales ULIPs
 To know the pattern of investment in insurance sector in context of
Berhampur
 To know what they think about investment.

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 ORGANISATION PROFILE
 MetLife India Insurance Company Limited.
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 Incorporated as a joint venture between metlife international

holdings, inc., The Jammu and kashmir bank, m. Pallonji and co.
Private limited and other private investors
 Over 140 years of experience and relationships with more than 90
of the top one hundred FORTUNE 500® companies.
 It offer life insurance, annuities, automobile and home insurance,
retail banking and other financial services to individuals, as well as
group insurance.

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 PARTNERS OF MetLife.
NIST BUSINESS - SHCOOL

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 METHODOLOGY

METHODS FOR DATA COLLECTION

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Questionnaire method
 Personal interview

 Observation

SAMPLE SIZE
 Out of the total population I have taken 100 as sample.

 All the sample are randomly selected for the research.

 All respondent’s income was on or above Rs. 150000 and has crossed the age of 25 years.

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 LIMITATION OF THE STUDY
The study suffers the limitations such as listed below:
NIST BUSINESS - SHCOOL

•The universe selected for the survey comprised of only

Berhampur. So the result should not be generalized for the entire
bulk.
•Sample size is too small which may affect the reliability of the
result.
•Because of lack interest in such activities, the respondents were
not benefited in any way and therefore there are chances of
incorrect or biased replies.
•The survey is one sided i.e., I studied the topic from customer’s &
company. Competitors’ viewpoint has not been covered.

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 ANALYSIS
4. Are you aware about unit linked plans?
Interpretation
NIST BUSINESS - SHCOOL

After analyzing the information,

of data collected from visited

people, it was found that out
of 100 people, 35% were aware
about Unit Linked Insurance
Plan while others have hardly heard about this plan.
There is lack of information about unit linked insurance plan.

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 ANALYSIS Continues…
5. What is your Investment objective in Unit Linked Insurance Plan
(ULIP)?
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Interpretation
After analyzing the information,

of data collected from visited

people, it was found that the
primary objective for investments
in ULIPs is tax saving, while retirement and child education/marriage are
secondary.

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 ANALYSIS Continues…
6. Time horizon in which you have to achieve your financial
goal?/how long do you plan to invest your money?
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Interpretation
After analyzing the
information, of data
collected from visited
people, it was found that
most people either chose
2-5 years or 6-10 years or
11-15 years time period for investing their funds.
While hardly 25% chose the extreme less than 2 years or over 15 years time
period for investing their funds.

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 ANALYSIS Continues…
7. Whose opinions do you take while making your
investments?
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Interpretation
After analyzing the

information, of data collected

from visited people, it was
found that out of 100 people
buying behavior of 37% of investors are influenced by the
opinion of financial consultants, while 34% make their own
decision. Only 29 consult their family and friends.

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 ANALYSIS Continues…
8. Most preferred form of investment?
Interpretation
NIST BUSINESS - SHCOOL

After analyzing the

informationof data collected

from visited people, it was
found that still FDs are popular
in Berhampur as compared to
traditional plans and shares,
while mutual funds and ULIPs are new for them.

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 ANALYSIS Continues…
9. What factors you consider before choosing a Fund?
Interpretation
NIST BUSINESS - SHCOOL

After analyzing the

information, of data collected

from visited people, it was
found that past returns is the
important factor while
selecting a fund.
Whereas the objective of the Fund and the reputation of Fund house
are also the relevant considerations while selecting a fund.

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 ANALYSIS Continues…
10. Rank the following factors while making investment in
ULIP?
NIST BUSINESS - SHCOOL

Interpretation
After analyzing the information
of data collected from visited
people, it was found that tax
saving and returns on
investment are major
considerations while making investment.

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 CONCLUSION
 Tax Planning is the major objective for the purchase of ULIPs followed by
Retirement and Child education/marriage.
NIST BUSINESS - SHCOOL

 The survey has shown that customers are quite concerned about their funds and
thus take financial consultant’s advice before making investment.
 In India people prefer to invest their funds for long terms especially for period
above 5 years.
 Today’s investor is educated and invests in ULIP after considering a number of
factors like Fund’s objective, reputation of the Fund, past returns, etc.
 Safety returns and tax saving ability of a ULIP influence the decision making
ability of customers.

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 NIST BUSINESS - SHCOOL

THANK YOU

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