initial report
DESCRIPTION
anaTRANSCRIPT
1. Do you have life insurance policy?
Initial ReportLast Modified: 02/20/2015
1 Yes 56 77%
2 No 17 23%
Total 73
Min Value 1
Max Value 2
Mean 1.23
Variance 0.18
Standard Deviation 0.43
Total Responses 73
# Answer Bar Response %
Statistic Value
2. if no Please check the reason(s) why not..
1 It is too expensive 1 7%
2 I don't need a life insurance 7 50%
3 I do not think it is important 7 50%
4 other (please specify) 2 14%
I dont earn
i invest in shares
Min Value 1
Max Value 4
Total Responses 14
# Answer Bar Response %
other (please specify)
Statistic Value
3. if yes Which provider(S) of life insurance do you use?
1 LIC 38 68%
2 ICICI Prudential 16 29%
3 SBi life 7 13%
4 Tata AIG 5 9%
5 Birla sunlife 5 9%
6 Other 0 0%
Min Value 1
Max Value 5
Total Responses 56
# Answer Bar Response %
Other
Statistic Value
4. Do you believe that your current insurance policy is adequate to your needs?
Min Value 1
Max Value 3
Mean 1.44
Variance 0.52
Standard Deviation 0.72
Total Responses 54
1 Yes 37 69%
2 No 10 19%
3 I don't know 7 13%
Total 54
Min Value 1
Max Value 3
Mean 1.44
Variance 0.52
Standard Deviation 0.72
Total Responses 54
Statistic Value
# Answer Bar Response %
Statistic Value
5. What is the primary reason for your purchase of a life insurance policy
1 Cover Future Uncertainty 28 50%
2 Tax Deductions 15 27%
3 Future Investment 13 23%
4 OTHER (PLEASE SPECIFY) 0 0%
Total 56
Min Value 1
Max Value 3
Mean 1.73
Variance 0.67
Standard Deviation 0.82
Total Responses 56
# Answer Bar Response %
OTHER (PLEASE SPECIFY)
Statistic Value
6. How did you fist come to know abut the policy(S) you bought ? select thoseyou own
1 LIC 4 2 24 0 9 39 3.21
2 Sbi LIFe 9 2 3 3 3 20 2.45
3 ICIC life 13 3 2 8 3 29 2.48
4 Tata AIg 7 5 2 3 1 18 2.22
5 Birla sunlife 8 1 2 3 1 15 2.20
Min Value 1 1 1 1 1
Max Value 5 5 5 5 5
Mean 3.21 2.45 2.48 2.22 2.20
Variance 1.38 2.47 2.40 1.71 2.17
Standard Deviation 1.17 1.57 1.55 1.31 1.47
Total Responses 39 20 29 18 15
# Question TV ad Magazine Broker Call centre executive From friends /acquaintances/relatives Total Responses Mean
Statistic LIC Sbi LIFe ICIC life Tata AIg Birla sunlife
7. From where did you buy your insurance
1 Bank /Companies office 14 25%
2 Broker 33 59%
3 Online 2 4%
4 Company Adviser 7 13%
Total 56
Min Value 1
Max Value 4
Mean 2.04
Variance 0.80
Standard Deviation 0.89
Total Responses 56
# Answer Bar Response %
Statistic Value
8. Before buying the policy did you compare it with other products available inthe market
1 Yes 27 49%
2 No 28 51%
Total 55
Min Value 1
Max Value 2
Mean 1.51
Variance 0.25
Standard Deviation 0.50
Total Responses 55
# Answer Bar Response %
Statistic Value
9. Which type of insurance policy do you favor?and why
1 ULIP 21 38%
2 Term 7 13%
3 Endowment 17 30%
4 Money back 9 16%
5 Group life insurance 2 4%
Total 56
Min Value 1
Max Value 5
Mean 2.36
Variance 1.54
Standard Deviation 1.24
Total Responses 56
# Answer Bar Response %
Statistic Value
10. Please rank the following items (1-5) on their order of importance whileselecting an insurance plan 1 being most important and 5 being least
1 Low premium 13 16 18 6 2 55
2 Reputation of the company 26 10 6 12 1 55
3 Return on investment 9 11 13 13 9 55
4 Options of riders 3 5 7 19 21 55
5 Convenience for Approach 4 13 11 5 22 55
Total 55 55 55 55 55 -
Min Value 1 1 1 1 1
Max Value 5 5 5 5 5
Mean 2.42 2.13 3.04 3.91 3.51
Variance 1.17 1.63 1.78 1.38 2.00
Standard Deviation 1.08 1.28 1.33 1.17 1.41
Total Responses 55 55 55 55 55
# Answer 1 2 3 4 5 Total Responses
Statistic Low premium Reputation of the company Return on investment Options of riders Convenience for Approach
11. What is your preferred channel of premium payment
1 personally going to Bank/Institution 7 13%
2 Broker 31 55%
3 on-line payment 17 30%
4 others 1 2%
Total 56
agent
Min Value 1
Max Value 4
Mean 2.21
Variance 0.46
Standard Deviation 0.68
Total Responses 56
# Answer Bar Response %
others
Statistic Value
12. Most Trusted Source of Information regarding life insurance
1 Agents 15 27%
2 Friends/family 8 14%
3 Product brochure 14 25%
4 Internet search 14 25%
5 Financial advisers 5 9%
Total 56
Min Value 1
Max Value 5
Mean 2.75
Variance 1.79
Standard Deviation 1.34
Total Responses 56
# Answer Bar Response %
Statistic Value
13. What is your most preferred way of receiving communications from thecompany
1 Phone call 10 18%
2 Emails 5 9%
3 sms 23 41%
4 Personal visits 8 14%
5 Newsletters or mails 10 18%
Total 56
Min Value 1
Max Value 5
Mean 3.05
Variance 1.69
Standard Deviation 1.30
Total Responses 56
# Answer Bar Response %
Statistic Value
14. Based on the insurance policy you have please select the option thatmatches with your view. In case of multiple insurance select the one with maximumpremium paid.
2 Govt. companies are more trustworthy than private ones while thinking of investing in lifeinsurances 18 16 9 11 2 56 1.34
3 The terms and conditions are not transparent in an life insurance policy 10 25 9 10 1 55 1.40
4 I will buy non life insurance (car , house mediclaim) from my current insurance company ifthey provides one 7 28 12 7 0 54 1.35
9 I discuss with my spouse or family before buying a life insurance 13 28 9 5 1 56 1.16
10 Investment in life insurance is more secure than mutual funds 13 18 19 5 0 55 1.29
11 I would suggest my friends to buy life insurance 9 16 13 9 5 52 1.71
12 This is/are the only life insurance company(S) I want to associate myself with in the future 9 33 10 3 1 56 1.18
18 I review my insurance policy at regular intervals 7 17 15 11 3 53 1.74
20 i am very confident that i know enough about my insurance policy 3 21 16 12 2 54 1.80
Min Value 0 0 0 0 0 0 0 0 0
Max Value 4 4 3 4 3 4 4 4 4
Mean 1.34 1.40 1.35 1.16 1.29 1.71 1.18 1.74 1.80
Variance 1.50 1.10 0.76 0.90 0.88 1.50 0.69 1.24 0.96
StandardDeviation 1.23 1.05 0.87 0.95 0.94 1.23 0.83 1.11 0.98
TotalResponses 56 55 54 56 55 52 56 53 54
# Question StronglyAgree
SomewhatAgree Neither Somewhat
DisagreeStronglyDisagree
TotalResponses Mean
Statistic
Govt. companies aremore trustworthy than
private ones whilethinking of investing in
life insurances
The terms andconditions are
not transparentin an life
insurance policy
I will buy non life insurance(car , house mediclaim)
from my current insurancecompany if they provides
one
I discuss withmy spouse orfamily beforebuying a lifeinsurance
Investment inlife insurance
is moresecure thanmutual funds
I wouldsuggest
my friendsto buy lifeinsurance
This is/are the only lifeinsurance
company(S) I want toassociate myself with
in the future
I reviewmy
insurancepolicy atregular
intervals
i am veryconfident that iknow enough
about myinsurance
policy
15. What is your yearly premium amounts
1 less than 10,000 5 9%
2 10,000- 20,000 26 47%
3 20,001 -30,000 14 25%
4 30,001-50,000 7 13%
5 more than 50,000 3 5%
Total 55
Min Value 1
Max Value 5
Mean 2.58
Variance 1.03
Standard Deviation 1.01
Total Responses 55
# Answer Bar Response %
Statistic Value
16. What is your age?
1 less than 25 8 12%
2 25 - 34 30 43%
3 35 - 44 17 25%
4 45 - 54 10 14%
5 55 - 64 4 6%
6 65 and over 0 0%
Total 69
Min Value 1
Max Value 5
Mean 2.59
Variance 1.13
Standard Deviation 1.06
Total Responses 69
# Answer Bar Response %
Statistic Value
17. Indicate your family status.
1 Single 28 40%
2 Married 15 21%
3 Married with child(ren) 27 39%
Total 70
Min Value 1
Max Value 3
Mean 1.99
Variance 0.80
Standard Deviation 0.89
Total Responses 70
# Answer Bar Response %
Statistic Value
18. Please indicate your approximate yearly household income before taxes.(Include total income of all adults living in your household.)
1 Under 2,50,000 4 6%
2 2,50,0001-6,00,000 20 29%
3 600001-10,00,000 26 38%
4 above 10,00,000 18 26%
Total 68
Min Value 1
Max Value 4
Mean 2.85
Variance 0.78
Standard Deviation 0.89
Total Responses 68
# Answer Bar Response %
Statistic Value