general awareness level of investors for insurance policies

8/9/2019 General Awareness Level of Investors for Insurance Policies

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GENERAL AWARENESS LEVEL

OF INVESTORS FOR INSURANCE

POLICIE

PREPARED BY :-

JANAK JHAVERI

ROLL NO :- 32


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INTRODUCTION OF HDFC SLIC

HDFC Standard Life Insurance Company Ltd. is one of India's leading

private co.

Insurance companies, which offers a range of individual and group

insurance Solutions. It is a joint venture between Housing Development

Finance Corporation.

Limited (HDFC Ltd.), India's leading housing finance institution and aGroup Company of the Standard Life, UK. HDFC as on December 31,

2009 holds 72.38. Percent of equity in the joint venture.


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CORPORATE OBJECTIVE

(i) Our Vision

'The most successful and admired life insurance company, whichmeans that we are the most trusted company, the easiest todeal with, offer the best value for money, and set the standards

in the industry'. 'The most obvious choice for all'.

(ii) Our Values Values that we observe while we work.

Integrity.

Innovation.

Customer centric.

People Care One for all and all for ones . Teamwork

Joy and Simplicity.


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BELOW ARE FEW OF THE PLANS THAT ARE

OFFERED BY HDFC STANDARDS LIFE INSURANCE

Protection PlansProtection Plans help you shield your family from uncertainties in lifedue to financial losses in terms of loss of income that may dawn uponthem incase of your untimely demise or critical illness.Childrens Plans

ChildrensPlans helps you save so that you can fulfill your childs dreamsand aspirations. These plans go a long way in securing your childs future

by financing the key milestones in their lives even if you are no longeraround to oversee them. As a parent, you wish to provide your child withthe very best that life offers, the best possible education, marriageand life style.Retirement Plans

Retirement Plans provide you with financial security so that when yourprofessional income starts to ebb, you can still live with pride withoutcompromising on your living standards.


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Savings & Investment Plans

Our Savings Plans offer you flexible options to build savings for yourfuture needs such as buying a dream home or fulfilling your children

immediate and future needs. Our single Premium Whole Life plan issuited to meet your long term Investment needs. We provide you withattractive long-term returns through Regular bonuses.

Health Plans

Health plans give you the financial security to meet health related

contingencies. Due to changing lifestyles, health issues have acquiredcompletely new dimension overtime, becoming more complex in nature.It becomes imperative then to have a health plan in place, which willensure that no matter how critical your illness is, it does not impactyour financial independence.


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What is Life Insurance ???

Insurance paid to named beneficiaries when the insured person dies; "in

England they call life insurance life assurance"

Insurance where a policy holder's dependents receive a cash lump sum

if he or she dies.

A form of insurance on the life of a person.If the person dies then the

insurance policy pays out a sum of money to the policyholder (such as a

person's family).


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RESEARCH METHODOLOGY

Research

Objective:The objective of my research was GENERAL AWARENESS LE VEL OF

INVESTORS FOR INSURANCE POLICIEs offered by different players in

Insurance Industry.

Research Plan:

Sample Size

The sample size for the survey conducted was 100 respondents.

Sampling Procedure:

Convenience sampling technique was used in the survey conducted.

Research Instrument:

Filling up the Questionnaire with the help of face to face meeting.


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SourcesofData:

There are two types of data used. They are primary and secondary data.

Primary data is defined as data that are collected from original sources for a

specific purpose. Secondary data are data collected from indirect sources.

(i) PRIMARY SOURCES

These include the survey or questionnaire method, telephonic interview as well

as the personal interview methods of data collection.

(ii) SECONDARY SOURCES

These include books, the internet, company brochures, product brochures, the

company website, competitors websites etc, newspaper articles etc.


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Research Design:

(i) Type ofResearch:

Descriptive research with the help of primary and secondary data.

(ii)ContributionofStudy:

This project has enhanced my knowledge of Insurance Industry .The

Primary Survey has helped me in getting an idea about the investors

awareness about insurance products available in the market.


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(iii) Beneficiary ofStudy:

The first Beneficiary of this project is company. It helps them in tappingthat segment of market which are unaware about the insurance, which

Indirectly increases the sales of the company. Moreover Availability of

data wasnt always perfect.

(iv) Limitations ofStudy:

The sample Size had to be kept limited to 100 respondents. Moreover

Availability of data wasnt always perfect.


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INTERPRETATION

There are 76 per. People are aware about the insurance policy and24per. Are not aware about the insurance policy. So company needs tocover this 24 per. For there growth of the company.

We can see from the chart that there are 29 respondents which areaware by advertisement for insurance company. Also advisor has moreshares in this criterion. Advice form family are also more important inthis criterion. So company has to make more afford in these othersides for more growth.

We can see from the chart that there are no more awareness aboutprivate companies in Insurance private sector. So that we can see thereare more portion of customers in 12 Private companies portion. Socompanies need to grow their awareness in customers.


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From the chart we can see that saving and investment plan and healthplan are more popular in customers. Also Pension and Child plan are moreaware but less aware.

From the terminology we can say most people are not aware about thisterminology. So companies need to grow their terminology in this side.

Also not much people are aware about regulatory of insurance. Morethink about SEBI regulatory insurance.

From chart we can say that ULIP plan is more aware in people so thatwe can say that company will improve their ULIP plan so that people can

take more policies of those companies.

Not much people is known about the decision about ULIP plan so that wecan say that people has to know about that thing.


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we can see that even customer are also not aware about there return.We can analyze that 7 per. Respondent even dont know about there

return, even 19 per. of the respondent are agree with the 5 to 8 peronly, so by analyzing the most perfect returns generally gets betweenthe 12 to 20 per return in there policy.

CHARTS


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FINDINGS

76% of People are aware about the insurance policies.

The above 76% of people came to with the help of media and relatives.

By looking to the chart i found that only few customers are aware aboutthat how many companies are there in the insurance industry.

Moreover, I found that only few of the respondents know that at thiscurrent age which policy is suitable for them.

Out of 100 respondent only 31% of respondent know about theinsurance terminology.


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In the matter of regulator of insurance industry, Ianalyze that only 12% of respondent are aware aboutthe regulatory of insurance industry.

Awareness in ULIP is more aware then any other plan.

After survey i came up that 74% of respondent knowabout the recent decision on ULIP.

Finally, in the problem of return the maximumrespondent know about there returns.


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CONCLUSION Firstly, I conclude that not awareness in the people about the Insurance policy

is just 24%. So if insurance companies try to aware this 24% of people then it

may happen that the future of the insurance companies Would be more brighterthen they appear, and also the sale of the insurance Policy increase and can earnmore profit.

Secondly, I came up with the conclusion that accept 24%, the remaining do notknow that how many companies are there and even on asking the respondentscant give all the companies name, if they are aware about this then the choiceof selecting the policies get increase and even the profit of the insurance

company also increase.

Moreover, the point which i m going to conclude is that the many people canttake decision that at this stage of life which policy is suitable for them . so, ifcompany give proper guide to this respondent properly, then there are chanceof increase in sale of policy and even profit also.

Finally, i came up with the conclusion that many people dont know there truereturn after there policy matured. So, if the company gives the properguidelines about the actual return of investment, then there is chance ofincrease in the sale of policy profit of the company.


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BIBLIOGRAPHY

www.Scribd.com

www.Atozmba.com

www.wikipedia.com

www.insure2bsecure.com

www.hdfcslic.com

www.tata-aig-life.com www.irdaindia.com

www.lic.com

www.bajajallianz.com

www.icici.prulife.com

Bhattacharya D. K (Research Methodology)


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general awareness level of investors for insurance policies

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