INTRODUCTION

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A

PROJECT REPORT

ON

ASSESSMENT OF MARKET POTENTIAL OF ULIP IN LIFE INSURANCE SERVICES, CUSTOMER AWARENESS & SATISFACTION OF KOTAK LIFE INSURANCE AT GHAZIABAD, NOIDA & DELHI CITY

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SUBMITTED BY:

Ms.SWATI GARG

AKSHDEEP KESARWANI

ROLL NO. 9105506

BBA (2011-2014).

DECLARATIONI, AKSHDEEP KESARWANI , hereby declare that the research report entitled ASSESSMENT OF MARKET POTENTIAL OF ULIP IN LIFE INSURANCE SERVICES, CUSTOMER AWARENESS & SATISFACTION OF KOTAK LIFE INSURANCE AT GHAZIABAD, NOIDA & DELHI is an original work done by me and has not been submitted to any College / Institute / University in any form or manner prior to this.

AKSHDEEP KESARWANI

BBA

Roll No. - 9105506

ACKNOWLEDGEMENT

I was privileged to be associated with a reputed group, a company and a Brand, which has a global presence. I would like to express immense gratitude to Kotak life insurance Co.Ltd for providing me an opportunity to complete my summer internship. It was an enriching experience, which led to the first interface with the practical field of life insurance analysis.

Who guided me with his experience and knowledge throughout my endeavors to do quality work.

I would also like to thank all the faculty members who provided me with the important inputs and suggestions.

AKSHDEEEP KESARWANI CONTENTS

Title Page no.

1. Introduction 2. Company Profile

3. Management

4. Product profile

5. Distribution network

6. Objective

7. Research Methodology

8. Data Collection Method

9. Analysis

10. SWOT Analysis

11. Conclusions

12. Suggestion

13. Annexure

14. Bibliography

IntroductionAlmost 4,500 years ago, in the ancient land of Babylonia, traders used to bear risk of the caravan trade by giving loans that had to be later repaid with interest when the goods arrived safely. In 2100 BC, the Code of Hammurabi granted legal status to the practice.

That, perhaps, was how insurance made its beginning.Life insurance had its origins in ancient Rome, where citizens formed burial clubs that would meet the funeral expenses of its members as well as help survivors by making some payments.

As European civilization progressed, its social institutions and welfare practices also got more and more refined. With the discovery of new lands, sea routes and the consequent growth in trade, Medieval guilds took it upon themselves to protect their member traders from loss on account of fire, shipwrecks and the like.

Since most of the trade took place by sea, there was also the fear of pirates. So these guilds even offered ransom for members held captive by pirates. Burial expenses and support in times of sickness and poverty were other services offered. Essentially, all these revolved around the concept of insurance or risk coverage. That's how old these concepts are, really.

In 1347, in Genoa, European maritime nations entered into the earliest known insurance contract and decided to accept marine insurance as a practice.

The first step...

Insurance as we know it today owes its existence to 17th century England. In fact, it began taking shape in 1688 at a rather interesting place called Lloyd's Coffee House in London, where merchants, ship-owners and underwriters met to discuss and transact business. By the end of the 18th century, Lloyd's had brewed enough business to become one of the first modern insurance companies.

Insurance and Myth...

Back to the 17th century. In 1693, astronomer Edmond Halley constructed the first mortality table to provide a link between the life insurance premium and the average life spans based on statistical laws of mortality and compound interest. In 1756, Joseph Dodson reworked the table, linking premium rate to age.

Enter companies...

The first stock companies to get into the business of insurance were chartered in England in 1720. The year 1735 saw the birth of the first insurance company in the American colonies in Charleston, SC.

In 1759, the Presbyterian Synod of Philadelphia sponsored the first life insurance corporation in America for the benefit of ministers and their dependents.

However, it was after 1840 that life insurance really took off in a big way. The trigger: reducing opposition from religious groups.

The growing years...

The 19th century saw huge developments in the field of insurance, with newer products being devised to meet the growing needs of urbanization and industrialization.

In 1835, the infamous New York fire drew people's attention to the need to provide for sudden and large losses. Two years later, Massachusetts became the first state to require companies by law to maintain such reserves. The great Chicago fire of 1871 further emphasized how fires can cause huge losses in densely populated modern cities. The practice of reinsurance, wherein the risks are spread among several companies, was devised specifically for such situations.

There were more offshoots of the process of industrialization. In 1897, the British government passed the Workmen's Compensation Act, which made it mandatory for a company to insure its employees against industrial accidents.

With the advent of the automobile, public liability insurance, which first made its appearance in the 1880s, gained importance and acceptance.

In the 19th century, many societies were founded to insure the life and health of their members, while fraternal orders provided low-cost, members-only insurance.

Even today, such fraternal orders continue to provide insurance coverage to members as do most labour organizations. Many employers sponsor group insurance policies for their employees, providing not just life insurance, but sickness and accident benefits and old-age pensions. Employees contribute a certain percentage of the premium for these policies.

In India

Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of Life Insurance Corporation of India's corporate headquarters, is derived from the Rig Veda. The term suggests that a form of "community insurance" was prevalent around 1000 BC and practiced by the Aryans.

Burial societies of the kind found in ancient Rome were formed in the Buddhist period to help families build houses, protect widows and children.

Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s.

It was during the swadeshi movement in the early 20th century that insurance witnessed a big boom in India with several more companies being set up.

As these companies grew, the government began to exercise control on them. The Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act of 1938 that looked into investments, expenditure and management of these companies' funds.

By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the country's life insurance scene. However, in the absence of regulatory systems, scams and irregularities were almost a way of life at most of these companies.

As a result, the government decided nationalize the life assurance business in India. The Life Insurance Corporation of India was set up in 1956 to take over around 250 life companies.

For years thereafter, insurance remained a monopoly of the public sector. It was only after seven years of deliberation and debate - after the RN Malhotra Committee report of 1994 became the first serious document calling for the re-opening up of the insurance sector to private players -- that the sector was finally opened up to private players in 2001.

The Insurance Regulatory & Development Authority, an autonomous insurance regulator set up in 2000, has extensive powers to oversee the insurance business and regulate in a manner that will safeguard the interests of the insured.

ROLE OF LIFE INSURANCE

Risks and uncertainties are part of life's great adventure -- accident, illness, theft, natural disaster - they're all built into the working of the Universe, waiting to happen.

Role 1: Life insurance as "Investment"

Insurance is an attractive option for investment. While most people recognize the risk hedging and tax saving potential of insurance, many are not aware of its advantages as an investment option as well. Insurance products yield more compared to regular investment options, and this is besides the added incentives (read bonuses) offered by insurers.You cannot compare an insurance product with other investment schemes for the simple reason that it offers financial protection from risks, something that is missing in non-insurance products.

In fact, the premium you pay for an insurance policy is an investment against risk. Thus, before comparing with other schemes, you must accept that a part of the total amount invested in life insurance goes towards providing for the risk cover, while the rest is used for savings.In life insurance, unlike non-life products, you get maturity benefits on survival at the end of the term. In other words, if you take a life insurance policy for 20 years and survive the term, the amount invested as premium in the policy will come back to you with added returns. In the unfortunate event of death within the tenure of the policy, the family of the deceased will receive the sum assured.Now, let us compare insurance as an investment options. If you invest Rs 10,000 in PPF, your money grows to Rs 10,950 at 9.5 per cent interest over a year. But in this case, the access to your funds will be limited. One can withdraw 50 per cent of the initial deposit only after 4 years.The same amount of Rs 10,000 can give you an insurance cover of up to approximately Rs 5-12 lakh (depending upon the plan, age and medical condition of the life insured, etc) and this amount can become immediately available to the nominee of the policyholder on death.Thus insurance is a unique investment avenue that delivers sound returns in addition to protection.Role 2: Life insurance as "Risk cover"

First and foremost, insurance is about risk cover and protection - financial protection, to be more precise - to help outlast life's unpredictable losses. Designed to safeguard against losses suffered on account of any unforeseen event, insurance provides you with that unique sense of security that no other form of investment provides. By buying life insurance, you buy peace of mind and are prepared to face any financial demand that would hit the family in case of an untimely demise.To provide such protection, insurance firms collect contributions from many people who face the same risk. A loss claim is paid out of the total premium collected by the insurance companies, who act as trustees to the monies.Insurance also provides a safeguard in the case of accidents or a drop in income after retirement. An accident or disability can be devastating, and an insurance policy can lend timely support to the family in such times. It also comes as a great help when you retire, in case no untoward incident happens during the term of the policy.With the entry of private sector players in insurance, you have a wide range of products and services to choose from. Further, many of these can be further customized to fit individual/group specific needs. Considering the amount you have to pay now, it's worth buying some extra sleep.

Role 3: Life insurance as "Tax planning"

Insurance serves as an excellent tax saving mechanism too. The Government of India has offered tax incentives to life insurance products in order to facilitate the flow of funds into productive assets. Under Section 88 of Income Tax Act 1961, an individual is entitled to a rebate of 20 per cent on the annual premium payable on his/her life and life of his/her children or adult children. The rebate is deductible from tax payable by the individual or a Hindu Undivided Family. This rebate is can be availed upto a maximum of Rs 12,000 on payment of yearly premium of Rs 60,000. By paying Rs 60,000 a year, you can buy anything upwards of Rs 10 lakh in sum assured. (depending upon the age of the insured and term of the policy) This means that you get a Rs 12,000 tax benefit. The rebate is deductible from the tax payable by an individual or a Hindu Undivided Family.

WHY NEED OF LIFE INSURANCE

Life Insurance has come a long way from the earlier days when it was originally conceived as a risk covering medium for short periods of time, covering temporary risk situations, such as sea voyages. As life insurance became more established, it was realized what a useful tool it was for a number of situations, including

a) TEMPORARY NEEDS / THREATS:

The original purpose of life insurance remains an important element, namely providing for replacement of income on death etc.

b) REGULAR SAVINGS:

Providing for ones family and oneself, as a medium to long term exercise (through a series of regular payments of premiums). This has become more relevant in recent times as people seek financial independence for their family.

c) INVESTMENT:

Put simply, the building up of savings while safeguarding it from the ravages of inflation. Unlike regular saving products, investment products are traditionally lump sum investments, where the individual makes a one off payment.

d) RETIREMENT:Provision for later years become increasingly necessary, especially in a changing cultural and social environment. One can buy a suitable insurance policy, which will provide periodical payments in ones old age.

Let us take an example to understand the need for insurance:

Mr. Amit is 45 and self-employed. His wife Nandini, who is a housewife, looks after their two children aged 3 and 7 years. They stay in a rented accommodation, where the rent is Rs. 15,000 per month. Mr. Amit has taken up a loan of Rs. 2 lakh. His monthly earnings on average are 40,000 Rs. Mr. Amit passes away in an unfortunate road accident. What are some of the financial implications of his death on his family?

There may be several financial implications on his family. Some of these are :a) The monthly income, previously provided by Mr. Amit would stop.

b) His wife and children may have to seek financial assistance from other relatives.

c) His wife may not have enough money to pay back the loan of Rs. 2 lakhs.

d) The family may have to move into a cheaper accommodation.

e) The widow may have to take up work to earn money.

f) The education of their children may suffer.

IRDA

The insurance sector has been opened up in India, as there was an urgent need. The international experience indicates those country with a liberalized insurance sector have witnessed a rapid growth in premium volumes enhancing the domestic saving rate. This happened in China, Malaysia and Singapore where a competitive market has led to improvement in services and quicker settlement of claims.

It is also important to note that competition will bring about advancement in information, communication and technology. And rightly therefore a decision was taken by the Government of India to open up insurance sector. The establishment of IRDA in the month of April 2000 has been important development in this direction, making the end of monopoly in the insurance sector.

LIBERALIZATION OF INSURANCE SECTORLiberalization commitment of the country to help in disciplining future economic policies will include the insurance reforms. When world over insurance market has been opened up. India cannot remain in isolation. History has shown that it is very difficult to prosper in isolation.

Globalization is the new economic reality, which is here to stay, heralding a new era of insurance in India.

With the opening of the insurance industry, India stands to gain with the following major advantages.

Globalization will provide opportunities to the customer for the better production. With more reasonable and affordable pricing.

The customer will get quicker services.

It will enhance the saving rate.

Long term funds for infrastructure development will be available to the country.

It will secure for India larger inflow of foreign capital need to sustain our GDP growth.

ADVANTAGES OF LIBERALIZATION The opening up will enable the country to save more and invest more for the development in infrastructure.

With new insurance intermediaries and more distribution channels the market is bound to develop by leaps and bounds.

In the next few years it is established that the Indian insurance sector will develop a better understanding of consumer requirement leading to more satisfaction of consumers.

The world class technology will be available in the market bringing about tremendous improvement in servicing.

Choice of price will be available to the customers.

Lead to increase in employment.

Social and rural obligations will also be served as IRDA has come out with clear regulation in this regard, which makes the development in this area mandatory.

Global competitors will help in building expertise with their global practice.

Unlike west, in India, insurance is sold as the instrument of saving. About 18%of the policies are sold as death risk consideration. Impression about LIC is that they are not meant for the market requirements. They are only intended to find customers. Insurance awareness is therefore low. Unit linked insurance products are not available. Insurance covers are expensive and returns are low. Turn over the agent is high. The choice available to the insuring public is inadequate in terms of services, products and prices. These are the areas of weakness, which may act as opportunities for new players who may work to offer policies to the customer with the value additions at a competitive premium with much improved servicing.

The IRDA Governs the critical aspect of insurance sector including :

The number and role of Private sector operates including-Roman area intermediaries.

Regulate covering investment, solvency norms etc.

Product range.

Accounting practices.

Consumer protection norms.

Ensuring the rural and health insurance are developed.

Fixing of license fee.

Perhaps of all the most critical regulation is the 26% equity Capital for foreign Insurers. This regulation bring in issues regarding management control and one of the reasons for joint venture breaking up Cubb-Kotak, Liberty-Dabur, AllState-Dabur, Manu Life-UTI are some of the broken up alliances.

WHY INSURANCE IN INDIA Only 22% of the insurance population has been extended cove r. Market penetration is low and the potential to exploit is high.

Insurance premium per capita is very low.

Lack of comprehensive social system benefit and welfare means that demand for pension products is high.

Huge middle class of approximately 300 million.

Existing insurance company score low on customer service front.

The insurance market registered growth in the Asian region even though Indias share in global insurance premium is less than 0.5% (1998) as compared to USA (24.2%) and Japan (21%). Studies have revealed that in an emerging market, as disposable income rises, Insurance premium as a ratio of GDP shoots up. The confederation of Indian Industry projected a growth of life insurance premiums from Rs. 350 billion at present to Rs. 140 billion. The growth of non-life insurance premium is expected to increase from 75 billion to 375 billion. Out of which, only the existing insurer taps 10%.

Insurance even more than banking is a volume game. A very exclusive approach in view is unlikely to provide meaningful numbers. Currently, insurance is bought for the purpose of tax-benefits. A higher percentage of business is in the rural market.

The share of rural new business insurance total new business is 55% in terms of policies and 47% in terms of sum assured. However, this needs to be viewed in the light of some recent issues that have been raised regarding as to what constitutes the rural market. Therefore, private insurers will be best served by middle market approach, targeting the customer segments that are presently unexploited.

How many Indians are aware that LIC has more than 60 products and GIC has more than 180 products. Not only there is a reduction in the premiums of life insurance products have long overdue since Indian mortality rate has decreased three folds in the last 50 years. There is also scope to increase the yield on life insurance policies (presently 6%) with proper risk management in place.

It is been debated that insurance business does not produce profit in the first five years cross subsidization is a feature of Indian market. Even the first portfolio vote that is considered profitable, cross subsidizes the other departments. Tariff reduction is likely to reduce profits, further insurers have to institute proper claims management progress in order to extract efficiencies. At present life insurance business in the country is taxed at 12.5% of the profit in financial year. The government is soon to present a new model of taxing life insurance companies at international rates.

To be the frist preference of our customer by providing innovative need based life insurance and retirement solutions to individual as well as groups. well trained professionals through a multi channel distribution network and superior technology will make these soluations available.

This we hope to achieve by:

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 our policyholders

Providing an enabling environment to foster growth and learning for our employees

And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5 core values-- Integrity, Customer First, Boundaryless, Ownership and Passion. Each of the values describe what the company stands for, the qualities of our people and the way we workGroup ManagementMr. Uday Kotak Executive Vice Chairman & Managing Director

Mr. Shivaji Dam

Mr. C. Jayaram

Mr. Dipak Gupta

Board of Directors : Committees of the Board

Name of committeeChairmanMembers

Audit CommitteeMr. K. M. GherdaMr. Pradeep N. Kotak, Mr. Cyril Shroff

Compensation / ESOP Committee Mr. Anand MahindraMr. Cyril Shroff and Mr. K.M. Gherda

Investor Relations CommitteeMr. Pradeep N. KotakMr. Uday Kotak, Mr. Dipak Gupta

Share Transfer and Routine Transaction ( START ) CommitteeMr. Uday KotakMr. Dipak Gupta, Mr. C. Jayaram

Management CommitteeMr. Uday KotakMr. C. Jayaram, Mr. Dipak Gupta, Mr. Shivaji Dam

Nominations CommitteeMr. Uday KotakMr. C. Jayaram and Mr. Dipak Gupta

PRODUCTS OF KOTAK MAHINDRA & OLD MUTUAL LIFE INSURANCE LIMITED

Kotak life insurance Ltd. offers a variety of policies that give you the benefits of protection and the opportunity to save for important assets or events, like a home, a car or a wedding.

PRODUCTS

Unit Linked Life Insurance

Life Insurance Traditional Term Life InsuranceUnit Linked Products

"What is Kotak Safe Investment Plan II ?"

Kotak Safe Investment Plan II is an opportunity to invest in the capital markets and gain market linked, tax-free returns. The plan assures you of a minimum guaranteed amount in case of death or on maturity. Thus, while it invests your money in capital markets, and gives you an opportunity to make high returns, it protects your downside. Whats more, these returns are tax-free to you.

When you avail of this plan, the premiums paid, net of charges, are converted into units and invested in any or a combination of funds selected by you. This plan offers you a choice of five professionally managed funds to invest your money.

Guaranteed Money market Fund

Guaranteed Gilt Fund

Guaranteed Bond Fund

Guaranteed Floating Rate Fund

Guaranteed Balanced Fund

Guaranteed Growth Fund

Eligibility

How old do I have to be to avail of this plan? Minimum age - 18 yearsMaximum age - 65 years

For what term can I avail of this plan?10 30 years

What is the minimum premium that I need to pay and at what intervals can I pay them?ModeAmountQuarterlyRs.2,620Half YearlyRs.5,115AnnuallyRs.10,000

* In case of limited premium payment option, the minimum annual premium is Rs.50,000 What are the advantages of the Kotak Safe Investment Plan II?" Gives you complete control and flexibility over your investments.

Choose from five well-managed investment funds, based on the amount of risk youre willing to take, and the corresponding returns you wish to gain.

Maximizes returns on your investment without compromising on your familys security, in case something happens to you.

Gives you an opportunity to conveniently use excess funds (eg. Bonus), which would have otherwise been lying idle in your savings account, without earning any significant returns.

The proceeds from switching between funds are tax-free.

In case of a financial emergency, you have the option to surrender or make partial withdrawals of funds from your policy. Or you can take a loan of upto 50% of the surrender value of your policy.

In case you do not want to be burdened with premium liability for the entire term, then you have the option of paying premium money over a period of 3,5,7,10,15 years.

In case you miss your premium payments after the first 3 years, the Automatic Cover Maintenance facility would ensure that the policy remains in force.Units from your holdings would be sold at the prevailing selling price to meet the risk and expense charges. So your policy continues to remain in force.As long as the value of units is sufficient to meet the expenses, the policy would be in force. On maturity, the residual value of units would be paid as a benefit to the policyholder.

"What is the Kotak Flexi Plan?"An investment cum insurance plan that can be customized to meet your constantly evolving needs. While on one hand it lets you decide the amount of insurance cover that you want, on the other hand, it invests a portion of the premium in the capital markets to ensure that your money works hard for you. At the same time the plan ensures that you have enough flexibility to meet your financial objective of savings and protection, both through this single plan. The plan gives you the option to add lump sum injections, when you want. And whats more it offers you the flexibility to withdraw your funds in part or in full.

Advantages of the Plan:

Flexibility to choose your investment and insurance amounts.

Guaranteed maturity sum assured, SA1, to protect your money from a downside, even when you take an equity exposure.

Option to choose from six well-managed investment funds, of varying risk-return profile. And the flexibility to switch between funds, without attracting any tax liability.

Limited Premium Payment option to help you pay off your premiums over a short period of 3,5,7,10 or 15 years.

Opportunity to make lump sum injections, so that your surplus funds do not lie idle in a savings account.

In case of a financial emergency, you have the following options:

Make partial or full withdrawals of funds

Make policy paid up

Avail of automatic cover maintenance facility

Loan facility available.

Eligibility

Entry AgeMin- 14 yearsMax- 65 years

Term of the PlanMin -10 yearsMax 30 years

Lump Sum Injection AmountMin Rs.10,000Thereafter in multiples of Rs.10,000

Part Withdrawals AmountMin Rs.10,000Max Subject to leaving behind a balance of Rs.10,000 in the Main Account

SA2Min - Rs.5,0000

P1 (including policy fees)ModeAmountQuarterlyRs.2,620Half YearlyRs.5,115YearlyRs.10,000

"What is Kotak Easy Growth Plan?"

Kotak Easy Growth Plan is an investment cum insurance plan.

You can look at it as a no-fuss investment plan that earns efficient returns on your money, without binding you to a tight maturity date. All you do is make a one-time premium payment and let us invest it for you, till you need it. Against the premium amount (net of charges), we will allocate units, which will be invested in any or a combination of these 5 professionally managed funds, listed below.

The plan provides you with a life insurance cover wherein you have the option to choose between two levels of insurance cover offered.

Advantages of the Kotak Easy Growth Plan: Gives you complete control and flexibility over your investments.

Gives you the option to choose between a low death benefit (One Times Life Cover) and a high death benefit (Five Times Life Cover). And that too at a low cost.

Saves you the hassle of fixed schedule, regular premium payments.

Maximizes returns on your investment without compromising on your familys security, in case something happens to you.

Gives you an opportunity to conveniently use excess funds (eg. Bonus), which would have otherwise been lying idle in your savings account, without earning any significant returns.

Offers you the transparency to monitor the daily performance of your funds through daily declared unit values, on our website and in leading national dailies.

Saves you the trouble and hassles of going through a medical

examination (in case you opt for One Times Life Cover).

You can design the plan to act like a systematic income plan, wherein it gives you a regular income at intervals that you want.

Eligibility:How old do you have to be to avail of this plan?Minimum age - 0 yearsMaximum age for Five Times Life Cover - 60 yearsMaximum age for One Times Life Cover 75 years

Till what age does the plan cover me?No max limit on cover ceasing age

What is the minimum premium I need to invest?Rs.50,000

What is the maximum premium that I can invest?No max limit. However, for children (minors), opting for Five Times Life Cover (Option 1) the initial single premium amount would be restricted to Rs.5,00,000.

"What is the Kotak Retirement Income Plan (Unit linked)"

The Retirement Income Plan is a savings plan designed to build a corpus for your future. It is a unit-linked plan where your money is invested in the funds of your choice to generate superior returns. Your sum assured is guaranteed* and you can enjoy the benefits of investing in the capital markets without worrying. You may opt for any of the following versions:

With Cover

Without Cover

Single Premium Kotak

"Who can avail of this plan?"MinimumMaximum

Term10 (Single Premium 5)30

Entry Age1855 (Single Premium 60)

Vesting Age4575

Lumpsum injectionRs, 10,000 per payment-

Premium payment QuarterlyRs.2,620

Retirement Age You have an option to retire between the age of 45 and 75 years.

You can choose to retire early at any age on the grounds of ill-health and withdraw the entire value of your units. You would also be able to opt for early retirement (other than ill-health) after the first policy year or on attainment of age 45, whichever is later. You will be given the value of your units less surrender charge, if applicable.

Premium flexibility You can choose to pay your premiums annually, half-yearly or quarterly.

You can keep injecting lump sums at any time to increase your retirement kitty.

You may exercise the option of paying premiums from the Supplementary Accumulation Account, created from lump sum injections, if the need arises.

"What is Kotak Money Back Plan?"

The Kotak Money Back Plan not only covers your life, it also assures you a certain percent of the sum assured as cash payment at regular intervals of every 5 years. It is a savings plan with the added advantage of life cover and regular cash inflow. This plan is ideal for planning special moments like a wedding, your child's education or purchase of an asset etc. This is a participating plan (with profits).

"Who can avail of this Plan?"How old do you have to be to avail of this plan?Minimum age- 18 yearsMaximum age- 60 years

For what term can I avail of this plan?15, 20 & 25 years

What is the maximum age that the plan can cover you till?75 years

"What are the advantages of this plan?"1. The plan not only covers your life but also provides you with a survival benefit payout every 5 years.

2. In the unfortunate event of death of life insured, the beneficiary would receive the death benefit. The death benefit keeps increases by 7% of the sum assured every year.

3. On maturity, you would receive the sum of the Survival Benefit, Bonus addition and Guaranteed addition.

4. The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the term.

5. You have the benefit of a 15-day free look period.

6. You have the option of paying premiums quarterly, half yearly or yearly.

"What is Kotak Child Advantage Plan?"

The Kotak Child Advantage Plan is an investment plan designed to meet your child's future financial needs. It's a plan that gives your child the "azaadi" to realize his dreams. The plan is a participating plan with a 15-day free look period.

"Who can avail of this plan?"

How old does the child have to be to avail of this plan?Minimum age - 0 yearsMaximum age -17 years

For what term can I avail of this plan?10 - 30 years

What is the maximum sum assured allowed under this plan?Rs.25,00,000

"What are the advantages of this plan?"

1. On Maturity, you would receive the sum assured plus the bonus addition. Bonus addition is the amount in the Accumulation Account*, in excess of the sum assured.

2. The balance available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) so your money works hard to earn more for your child.

3. The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the Term.

4. You can take a loan against this plan, after the policy has been in force for at least three years.

5. You have the option of paying premiums quarterly, half yearly or yearly.

6. You have the benefit of a 15 day free look period.

"What is the Kotak Capital Multiplier Plan?"

The Kotak Capital Multiplier Plan is a participating plan that is built in such a way that it allows your money to multiply, and gives you the flexibility of using this money the way you need it, in regular withdrawals. This is an endowment plan, which is very flexible, and has a lot of other in-built benefits."Who can avail of this plan?"How old do you have to be to avail of this plan? Minimum age - 18 yearsMaximum age - 60 years

For what term can you choose to pay the premiums(called the Build-up Period)? 5 yrs - 30 yrs

From what age can you choose to start making withdrawals (called the Vesting Age)? Any age upto 65 yrs

What is the minimum premium that you need to pay and at what intervals can you pay them?ModeAmountQuarterlyRs.2620Half YearlyRs.5115AnnuallyRs.10000

"What are the advantages of this plan?"

1. You can choose to start making withdrawals from the vesting age, subject to a maximum of 65 yrs.

2. At the start of your withdrawal period, you can draw the full proceeds; or you can draw upto 50%, of your Basic Sum Assured or Accumulation Account*, whichever is higher.

3. In the event that you draw the full proceeds, your policy terminates.

4. In the event that you do not draw full proceeds, then you can make one or more withdrawals yearly (that can alter year to year, as per your needs), total of which will be between 0% to 25% of the Net Vesting Value**, subject to the rules applicable at the vesting age. These withdrawals can be made for a maximum period of 15 years after maturity.

5. You have the choice to opt for an early vesting at any age before the scheduled vesting age (subject to at least 3 years' premiums having been paid), if need arises. If the early vesting is due to medical grounds, then the minimum condition of 3 yrs is also waived.

6. In addition to the regular premiums, you can make lump-sum injections into your plan during the premium-paying period, as and when you want (such lump-sum injections during a year may not exceed 25% of the Basic Sum Assured). A Supplementary Accumulation Account will be created for this, and will be combined with the Accumulation Account at the chosen vesting age.

7. You have the facility of Automatic Cover Maintenance, which ensures that the policy remains in force even when you miss the premium payments. This facility is available after the first 3 years of the term.

8. You have the option of paying premiums from the Supplementary Accumulation Account, created for "lump-sum injections", if the need arises.

9. During the build-up period, you get an additional life cover of 10% of the Basic Sum Assured, which is over and above the life cover you have opted for.

10. During the withdrawal period, you get life cover of 10% of the Basic Sum Assured, and the Critical Illness Benefit (CI+15), if opted for. This is available for a period of 15 years from your vesting age or till you turn 75, whichever is earlier.

11. During the withdrawal period, returns will continue to be added to the Accumulation Account. Such returns cannot be negative.

12. You have the option of paying premiums in quarterly, half-yearly or yearly installments.

13. You have the benefit of a 15-day free look period.

"What are the advantages of this plan?"

1. You can choose to retire at any age between 45 yrs and 65 yrs.

On Retirement:You may take a lump sum in cash of up to a third of your Basic Sum Assured or Accumulation Account*, whichever is higher; and the balance of the benefit you are eligible for will be used to buy an annuity of your choice.

Annuity Options:You may buy an annuity either from Kotak Life Insurance (subject to the choice and rates available at that time)**, or from any other insurer.

2. Early Retirement Benefits: You may opt to retire early, i.e. at any age before the normal retirement date (subject to the policy being in force for 3 years or your attaining a minimum age of 45 yrs, whichever is later). You can then secure benefits with your Accumulation Account, net of an early retirement charge of 5%. If the early retirement is due to ill health, then you may retire before attaining the age of 45. You can then secure benefits with your full Accumulation Account.

3. Late Retirement Benefits: You may opt to retire after the retirement date originally selected, and select a new retirement date (subject to a maximum of 65 years). No further premiums will be payable and the death benefit will be equal to the balance in Accumulation Account. (However, all riders will cease at the original retirement date).

4. You can make lump-sum injections into your policy at any time before retirement (such lump-sum injections during a year may not exceed 25% of the Basic Sum Assured). A Supplementary Accumulation Account will be created for this, and will be paid out in the same manner as other benefits.

5. You may exercise the option of paying premiums from the Supplementary Accumulation Account, created for "lump-sum injections", if the need arises.

6. For a "With Cover" plan, you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term.

7. You have the option of paying premiums in quarterly, half-yearly or yearly installments.

8. You have the facility of a 15-day free look period.

Permanent Disability Benefit (PDB)

This benefit can be added to the basic life insurance plan to provide financial support in case of permanent disability due to an accident. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of two limbs or total and permanent loss of sight.Heart Attack (MI)

1. Cancer

2. Stroke

3. Coronary artery by-pass graft surgery (CABG)

4. Kidney failure

5. Major organ transplants

6. Paralysis

7. Loss of limbs

8. Aorta surgery

9. Major burns

10. Heart valve surgery

11. Blindness

For Kotak Flexi Plan, SA2 or insurance sum assured.

Life Guardian Benefit (LGB)

In case of the unfortunate death of the proposer, this benefit keeps the policy alive by waiving all future premiums on the policy. This benefit can be availed of only when the life assured and proposer are two different people.

Accidental Disability Guardian Benefit (ADGB)

In case the policyholder is permanently disabled as a result of accident, this benefit keeps the policy alive by waiving all future premiums on the policy.

DISTRIBUTION NETWORK

KOTAK LIFE INSURANCE COMPANY LTD, distribution strategy is aimed at creating a national presence through a scaleable model, which would achieve convenience, accessibility and quality service for the customers.

DIRECT SALES FORCE

Through this channel, the company sets up brick and mortar branches on a standardizes template, across the country selling life insurance trough trained career agents called insurance advisor. The team of agency managers advisors are geared for productivity enhancement national presence in 45branches in 34 cites.

LTERNATE CHANNELS

The experience in various countries for selling life insurance through banks, corporate agents, brokers, call center, internet and these distribution alternatives will be pursed by the orgnisation from the inception stage. While in India there was no precedent for selling life insurance through these alternate modes, a philosophy of piloting and stabilizing the model was adopted.

The successful business models for bank assurance corporate agency, brokerage, and affinity group and direct marketing are being consolidated.

DISTRIBUTION IN TUNE WITH TECHNOLOGY

Technology plays the crucial role, when distribution spans across more than 40 locations. The IT strategy revolves around selecting and implementing critical business applications to support contemporary products like universal life and aligning process to provide Worold-class customer services. The systems are web enabled and equipped to provide consistent information across all touch points (Branches, callcenters website etc.). A high class wide area network (WAN) was setup to interconnect all branches and the headquarters at mumbai.

TRANNING TO SUPPORT SYSTEM

In keeping with support throughout the country. Kotak life insurances mission of providing life insurance solutions though well trained professionals, our training team has geared up to meet the challenge. We have a team of qualified professionals to provide the crucial support throughout the country.

DISTRIBUTION

OM KOTAK LIFE INSURANCE has one of the largest distribution networks amongst private life insurers in India, having commenced operations in 34 cities and towns with 45 branches running in India. These are:

Sen.Branches

AddressContact No

1.Ahmedabad5th floor, Rembrandt ,C,G road Navangpura, ahmedabad-38C009 STD-079

6108521/23/24

26-28-29-31

2.Banglore Flat nos. 102,103&104, 1st floor, cears plaza, 136, Residency road, banglore-56 001STD-080

2122847/848/849

51125072-76

3.Baroda609-610,6th floor, Arun deep complex, Race course circle, vadodara 390 007STD-0265

2323706/08/10/11

4.Bhavnagar4, pattani plaza, Nitambaugh chowk, dairy road, bhavnagar-364 001STD-0278

2525163-67

5.Bhopal Ranjit tower, office # 3&4, plot # 8, 1st floor, MP nagam zone 11,bhoplal STD 0755

07777414-44

6.Calcutta Kanak building, 1st floor, 41 Chowringhee road, Calcutta 700071STD 033

22881798/99

7.Chandigarh S.C.O 141/142,2NC floor, sector 9-c, chandigarh 0172, 387000

376449-55

8.Chennai 45,Ist floor Ceebros Center, Montienth Road , Egmore, Chennai 600018. STD-044

2857920/28544859

28517679

9.Delhi201-211, B- wing sem Dutt chambers 1 5 Bhikji came bloce New Delhi 110066D+91 11 41595053

T+91 11 41595000

F+91 11 41551404

10.Delhi E-19, Defence Colony

New Delhi 110024 STD-011,

51595000

51595006

11.Gandhidham Komal Complex,1st floor, Room Noi 5,6 & 7, Plot no. 305, sector-12/B opp SBI, GandhidhamSTD 02836

225940-43

OBJECTIVE OF THE STUDY

The main objective of the study is find out the view of different people about the unit-linked life insurance. And find out what they take insurance advisors advise for their investment or not. If not indicate the people for their life insurance and tells them why life insurance is necessary for every persons.

MARKETING OBJECTIVE

The main marketing objective of this project report for the company is find out marketing position of the life insurance and makes the present and future strategy of the company.

RESEARCH METHODOLOGY

For defining research methodology there are three basic types of methods for marketing research..They are as follows:

A The observation method.

B The experimental method.

C The survey method inclusive of panel method.

In observation method data are collected on the direct observation. No talks place by observation the analysis makes the inventory as to product used by him at his hoe or kept as retailers stocks.

In experimental method it is based on the concept that small-scale experiment is useful to indicate the exception of large-scale experiment.

The survey method information is gathered directly from individuals in three ways;

1. Telephone

2. Mail

3. Personal interview

This survey method is also suffered to as the questionnaire technique.

Research PROCESS

DEFINING RESEARCH PROBLEM

INTENSIVE LITREATURE

RESEARCH DESIGN

FEEDBACK

COLLECTION OF DATA

ANALYSIS OF DATA

RECOMMENDATION AND

REPORT WRITING

SAMPLING PLAN

Sampling plan of this project report basically releated to the number of points which are givien below-

The universe studied prospectors in the areas of N.C.R. mainly Delhi, Ghaziabad & Noida.

The sampling unit is a single prospector outlet, which may be any types.

Elements: potential prospector.

The geographical limit is the area of N.C.R.

Keeply the number of prospector in mind the sample size arrived at was 100.

The sampling method followed was judgmental sampling.

DATA COLLECTION METHOD

In my project report, which has entitled a research report on market potential in life insurance solution in N C R region, has collected data from two method-

1. PRIMARY SOURCE

2. SECOUNDRY SOURCE

Under the primary source data collected by me through the observation, survey, and personal interview.

QUESTIONNAIRE METHOD: Though the questionnaire method number of question asked by the different people from the different region mainly DELHI, GHAZIABAD, NOIDA, and GURGON by me. My questionnaire method is a open ended method in which question asked by me has a limited number. The main purpose of this questionnaire is found out the view of the people that they take insurance advisors advice or not. In which they like to investment their savings. The format of questionnaire of this company is given in annexure-

NOTE: what questionnaire we have adopted that is the refined version of the main or first questionnaire after testing of 10 samples.

Survey method: This project report is also suffered by the survey method for collecting the relevant information, so that marketing executive will be success for making marketing strategy according to that survey.

The main propose of this survey which help the insurance advisors to identify the type of market in which insurance advisors may be prospecting and selling should he enter the life insurance business.

It will also aid management in estimating their sales potential and in determining the type of training that would be most beneficial to him.

The names you enter represent people you know today. Should you enter the business of selling life insurance, you will learn proven ways to meet new people and expand these markets.

While many of those you list are presently prospect for life insurance and others are not, do make the need for life insurance a requirement for adding their names. Do not list names by any predetermined selection rating. Simply list the first 100 names of those who come to your mind most readily.

The format of survey form of this company is given in annexure-

INTERVIEW: This project report is also affected by the interview method. The data is also collected though the interview. Under this method we go through the

Telephone interview

Mail interview

Personal interview

Under the telephone interview is used when the information to be collected limited. This method is suitable for inquiry about information just released or telecast by radio or television.

Under the mail interview data is collected when the data is more important.

Because there is no interviewer in mail surveys to ask questions and record answers. It cannot be used to conduct an unstructured study.

Under the personal interview data is collected though the door to door. This method is very relevant and it is also very difficult task to collect the information. And takes much time.

OBSERVATION METHOD : This project report is also suffered by the observation method. Because some time it is also happened when the number of people was not ready to give the relevant information used this techniques to collect the information.

This observation is used when the research problem has been formulated precisely and the researchers are told to observe the area of sturdy. The researchers are asked to record their observation.

SECONDARY DATA: Under this project report data is also collected through the secondary data. Under this source data is collected through the magazine the web site, through the newspaper, through the other insurance organization.ANALYSIS AND INTERPRETATION

From the questionnaire, we found number of findings and according to them we can do analysis that which type of strategy should be adopted for improving the earnings of the company given below-

Question no. 1

How many people plan for their savings and investment?

YES NO

PEOPLE (IN %) 64% 36%

Findings :

The graph above shows the relationship between numbers of respondents who are willing to plan for their savings and investment?

From the graph it is clear that 64% of the respondents who are willing to plan for their savings and investment, and remaining 36% of the respondents are not plan for their savings and investment.Question no. 2

How many people take help of professional advisor for their investment?

YES NO

PEOPLE (IN %) 35% 65%

Findings:

The graph above shows the relationship between numbers of respondents how many people take help of professional advisor for their investment?

From the graph it is clear that 35% of the respondents are taking help of professional advisor for their investment. And 65% are not taking help of professional advisor for their investment

Analysis :Number of people is more than the number of people who are taking help of professional advisor for their investment.

Question no. 3

How many people savings regularly for-

SAVING ALTERNATIVSPEOPLE IN %

RETIREMENT 15%

CHILDRENS EDUCATION25%

CHILDERNS MARRIGE40%

TAXATION15%

OTHERS5%

Findings:

The graph above shows the relationship between numbers of respondents how many people savings & investment for retirement, childrens education, childrens marriages, taxation, others.

From the graph it is clear that 15% of the respondents are savings & investment for retirement, 25 % of the respondents are savings & investment for childrens education, 40% of the respondents are savings & investment for childrens marriages, 15% of the respondents are savings & investment for taxation & remaining 5% of the respondents are savings & investment for other things.Question no. 4

How many people savings through insurance? YES NO

PEOPLE (IN %) 35% 65%

Findings:

The graph above shows the relationship between numbers of respondents how many people savings through insurance?

From the graph it is clear that 35% of the respondents are savings through insurance. And 65% are not taking savings through insurance.

Question no. 5Have you knowing about kotak life insurance or other financial institution and also about ULIPs (Unit linked insurance product)?

YES NO

PEOPLE (IN%) 80% 20%

About ULIPs 50% 50%

Findings:

The graph above shows the numbers of respondents who know about kotak life insurance or other financial institution.

From the graph it is clear that 80% of the respondents know about kotak life insurance or other financial institution. And 20% are never know about kotak life insurance or other financial institution at the movement, and also 50% of the respondents know about ULIPs and 50% are not knowing at the movement.

Question no. 6

What are you looking in good investment policy or what key benefits should have in good investment policy?KEY BENFITES PEOPLE LOOKS IN INVESTMENTPEOPLE IN %

GOOD RETURN 27%

LIQUIDITY21%

PAYMENT PERIOD19%

SAFETY33%

Findings:

The graph above shows numbers of respondents what they want in the good investment policy 27% people want good return in the policy, 21% people want liquidity in the policy, 19% people want good payment period in the policy, 33% people want safety in the policy,Question no. 6What are the reasons for Reluctance to invest in private investment options?

REASON FOR RELUCTANCY TO INVEST IN PRIVATE INVESTMENT OPTIONS:PEOPLE IN %

DIFFICULT TO UNDERSTAND31%

LACK OF AWARENESS29%

SAFETY FACTOR16%

RELIABILTY ON PPF/LIC24%

Findings:

The graph above shows the numbers of respondents why people reluctances to invest in private investment options 31% people think private investment are difficult to understand, 29% people think private investment are lack of awareness, 16% people think private investment due to safety factor, 24% people think private investment are reliability on PPF/LIC.Question no. 7

Have you Invest ever in ULIPs or Plan to invest in ULIPs in coming 12 months?

YES Cant say

PEOPLE (IN%) 70% 30%

Findings:

The graph above shows the numbers of respondents who Invest ever in ULIPs or Plan to invest in ULIPs in coming 12 months.

From the graph it is clear that 60% of the respondents Invest ever in ULIPs or Plan to invest in ULIPs in coming 12 months. And 30% cant say about it.

SWOT ANALYSIS:

SWOT analysis of this company is given below-

STRENGTHS: Strength of this company is given below-

There is transparency in the scheme. The performance of the fund can be monitored on daily or bi-weekly basis through the daily-declared NAV/unit prices and also through the website of the company. At any given time you will know the accumulations under your policy due to the investment accruals.

Normally any time after one to three years time depending upon the scheme, you can chose to withdraw your money by partial or complete surrender of units. The death benefit will be proportionately reduced.

You can surrender the policy and get a guaranteed surrender value.

You can also take a loan on a policy after three years duration.

You can switch from one stream of investment to the other every day according to your changing needs.

You can top up your premium anytime during the term to increase your benefits.

The plans are available as endowment whole life money back or as pension plans.

In fact some companies allow you to have the contract as long as you want without a fixed term, even up to death.

The option of with or without profits is also available in some plans. Actually some companies give a guaranteed bonus as a percentage of the sum assured as bonus.

The normal riders such as accident benefit, disability benefit critical illness or major surgical assistance covers are also available.

The policies are issued with the usual free-look provision.

One company has floated a unit-linked policy for women with a critical rider benefit specifically covering some gynecological illness.

You can buy the policy with a single premium like a bond or pay premium like a bond or pay premium by the usual yearly, half-yearly or quarterly mode.

Some companies offer even premium holiday option. If after paying premiums for three years you are not able to pay the premium, the policy will be continued adjusting the overdue premiums from your unit fund.

WEAKNESS: Weakness of this company is given below-

The expenses deducted from the premiums especially in the fist two years considerably shrink the amount that goes towards your investment corpus.

The heavy frontloading of the effectively acts as a disincentive for early withdrawals.

The unit-linked plans completely pass on the investment risk to the policyholder and he has to be ever vigilant.

OPPORTUNITIES: Opportunities of this company is given below-

If unit-linked policies can be given section 88 benefits is a valid reason that investment in an ordinary mutual fund should also be given the same benefit, as they are basically same except for the addition of insurance element in the unit-linked policy.

The rear end tax-free benefit is a very attractive tax break for the unit-linked policy as per the current tax laws.

The return by way of capital appreciation in mutual fund as well as from the sale of stocks are taxed as capital gains with the indexation benefit, according to the current tax laws. Only the dividends are tax-free.

THREATS: Threats of this company is given below-

This is company is also suffered by the great market competition. There are number of competitors of this company.

Another threat of this company is that the changing environment. Changing environment means change in government, change in government policy, change is competitors policy.

CONCLUSION:

Unit-linked policies are a very valuable addition to the existing array of insurance producers. But when sold to a wrong prospect or brought a wrong agent it will become useless. IRDA and the companies should take care that well-trained and professional agents market these product.

In view of what was discussed above, the buyer if they need such plans according to their risk appetite should select a known, well-informed agent who is reliable. Agents who are already dealing with investment or saving instrument or mutual funds, if they sell life insurance also would be a good choice. In case they hence doubts about the availability of such agents, it would be more advisable to go to corporate agent with a background in financial instruments or still better, to a good broker who are likely to be better equipped than an ordinary agent. Continued advice and guidance will be available with the corporate agent and the broker as they are corporate entities.

SUGGESTIONBy this project report there are number of suggestion which can be given below-

1. Company should recruit well informed well qualified well financial knowledge. So that he will success to satisfy the potential customer for their investment or saving.

2. In fact the contract to buy the product in my opinion is not the usual insurance contract governed by the principle of unerimma fides but one of caveat emptor. Under the principle of utmost good faith the company expects the proposes to give all material facts so that it can charge the correct premium based on the factors of risk presented.

3. How to deal with the situation? The companies or IDRA cannot educate the policyholder. They should educate the agent.

4. Prospective unit linked policy buyers should understand the structure of the plan, the factors that determine how good their returns will be and the risks involved and then figure out if they have the risk appetite whether they can better returns on their investment elsewhere and whether their investment horizon matches the long lock-ins over which these plan offer the best rewards.

5. Insurance companies will generally give you a picture on basis of the past performance of the fund but the past performance of the fund is never an indicator of how the fund might perform in the future.

6. Insurance companies allow you to shift from one fund to the other at any point .

7. ANNEXURE:Under this annexure we include-

1. Questionnaire

2. Survey form

3. An Article on ULIPs (Published in Business India)

QUESTIONNAIRE

Kotak Life insurance Co. Ltd.

Life insurance coverage survey

Name: -----------------------------------------------------------------------

Address: ----------------------------------------------------------------------

Occupation: -----------------------------------------------------------------

Tel.: Residence ------------------------- Office ---------------------------

Date of Birth: ------------------------ Annual Income ------------------

Family Particulars:

Name of spouse --------------------------------------- Age ---------------

No. Of children -------------------------------------------------------------

1. Do you plan your savings and investment?YES NO

2. How many people take help of professional advisor for their investment?YES NO

3. Do you save regularly for?

Retirement Childrens marriage

Childrens education Taxation

Others

4. Do you save through insurance?

Yes No

5. Would you like to get professional advice in insurance solution?

Yes No

6. Do you know about kotak life insurance or other financial institution?

Yes No

7. Have you Invest ever in ULIPs or Plan to invest in ULIPs incoming 12 months?

Yes No

8. What are you looking in good investment policy or what key benefits should have in good investment policy? GOOD RETURN LIQUIDITY

PAYMENT PERIOD SAFETY9. What are the reasons for Reluctance to invest in private investment options? DIFFICULT TO UNDERSTAND LACK OF AWARENESS SAFETY FACTOR RELIABILTY ON PPF/LICSURVEY

(Sampling page)

Sources of names

A. School / college friend

B. Family / Relative

C. Neighbors

D. Through Spouse

E. Through Hobbies / Spot

F. Previous employmentSource letter

Persistency

NAMES

SUBMITTED

(YEARLY

INCOME

IN RUPEES)< 1 LAKH

> 1 Lakh but 2.5 Lakh but 5 Lakh

AGE18-25 YEARS

26-35 YEARS

36-45 YEARS

OVER 45 YEARS

OCUPATIONSELF-EMPLOYED

SERVICE

BIBLOGRAPHY:

BOOKS- PHILIP KOTLER, G. C. BEARI.

MAGAZINES- BUSINESS WORLD, BUSINEESSINDIA.

WEB-SITE- http:// WWW.KOTAKLIFEINSURANCE.COM, - http://WWW.IRDA.COM - http://WWW.LIFEINSURANCE.COM

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