role of advisor

8/11/2019 role of advisor

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CHAPTER -1



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1.1 RESEARCH OBJECTIVE

The main objective of this study is to found out

1. the view of different people about the unit-linked life insurance.

2. 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. There are some reason which indicates why life

insurance is necessary for every person given below-

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 market strategy of thecompany.

1. Identifying the sources of money or funds a person has and what happens to that

money (where is goes) than

2. Determining the person short and long term priorities

3. Analyzing this information or ones can advice changes to the person financial habits

or enable him to achieve his goals.

The main objectives of this study are:

Working of Insurance Plans

SWOT analysis of the product sold

Comparative study with the competitors



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1.2 RESEARCH METHODOLOGY

Research comprise defining and redefining problems, formulating hypothesis or suggested

solutions; collecting, organizing and evaluating data; making deductions and reaching

conclusions; and at last carefully testing the conclusions to determine whether they fit the

formulating Hypothesis.

In short, the search for Knowledge through Objective and Systematic method of finding

solutions to a problem is Research.

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

observing the person 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 expectation 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. There is also organized

by-

1) In factual survey

2) Interpretative survey

3) Opinion survey

In my project point of view I have taken mainly the method of personal interview by

questionnaire technique in the personal interview by questionnaire.

Technique I usually gathered information by face to face interviewing.



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In this survey method I saw that the respondent was shown the exhibit and advertisement to

give his personal opinion and attitude.

In this method the direct interaction on occurred with the retailers and I could collect the

reliable information from them.

RESEARCH DESIGN:

RESEARCH PROCESS

DEFINING RESE RCH PROBLEM

INTENSIVE LITRE TURE SURVEY

COLLECTION OF D T

N LYSIS OF D T

RECOMMEND TION NDREPORT WRITING

RESE RCH DESIGN



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1.2.1DATA SOURCES

There are two types of data.

PRIMARY DATA The data that is collected first hand by someone specifically for the

purpose of facilitating the study is known as primary data. So in this research the data is

collected from respondents through questionnaire.

SECONDARY DATA.

For the company information I had used secondary data like brochures, web site of the

company etc.

The Method used by me is Survey Method as the research done is Descriptive Research.

1.2.2 Method of data collection: - Descriptive research

Descriptive research includes Surveys and fact-finding enquiries of different kinds. The main

characteristic of this method is that the researcher has no control over the variables; he can

only report what has happened or what is happening.

RESEARCH INSTRUMENTSSelected instrument for Data Collection for Survey is Questionnaire.



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1.2.3 QUESTIONNAIRE DESIGN/FORMULATION

Questionnaire: - A questionnaire consists of a set of questions presented to respondent for

their answers. It can be Closed Ended or Open Ended

Open Ended : - Allows respondents to answer in their own words & are difficult to Interpret

and Tabulate.

Close Ended: - Pre-specify all the possible answers & are easy to Interpret and Tabulate.

TYPES OF QUESTION INCLUDED :

DICHOTOMOUS QUESTIONS

Which has only two answers “Yes” or “No”.

MULTIPLE CHOICE QUESTION

Where respondent is offered more than two choices.

IMPORTANCE SCALEA scale that rates the importance of some attribute.

RATING SCALE

A scale that rates some attribute from “highly satisfied ” to “highly unsatisfied “ and “very

inefficient” to “very efficient”



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SAMPLE DESIGN:

Sampling plan of this project report basically related to the number of points which are given

below-

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

& Gurgoan.

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

3. Elements: potential prospector.

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

5. Keeply the number of prospector in mind the sample size arrived at was 200 .

The sampling method followed was judgmental sampling.

SAMPLING UNIT: -

Who is to be surveyed? The marketing researcher must define the target population that will be

sampled.

The sample Unit taken by me;General public of different age group, different gender and

different proffesion

EXTENT:-

Where the survey should be carried out?

I have covered entire residential area of Delhi city for the survey

TIME FRAME:-

When the survey should be conducted?

I conducted my survey for 8weeks from 10th may to 10th July

SAMPLING FRAME:-

The source from which the sample is drawn

Sampling Technique : -

How should the respondent be chosen?



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In the Project sampling is done on basis of Probability sampling . Among the probability

sampling design the sampling design chosen is stratified random sampling.

Because in this survey I had stratified the sample in different age group, different gender and

different proffesion

Sample Size/ Population Size : - How many people should be surveyed?

My sample size is 75



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1.2.4 LIMITATIONS OF RESEARCH

The geographical area was very much limited to residential area & so the results are not

particularly reflection of the current behavior.

BIASES AND NON-COOPERATION OF THE RESPONDENTS.

Due to limited time period and constrained working hours for most of the respondents, the

answers at times were vague enough to be ignored.

Most of the people in India take their policies in the period preceding March (for tax saving

purposes) & so the response to initial contacts were not all encouraging and that has been

the primary reason in the inability to quantify the results large enough so as to deduce any

relevant outcomes.



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CHAPTER -2

Company Profile



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Seamlessness

Speed

RANGE OF PRODUCT SERVICES

OUR VALUES:

INTEGRITY

TRANSPERENCY

CUSTOMER FOCUS

EXCELLENCE

INNOVATION

MERITOCRACY

RESPECT FOR THE INDIVIDUAL

OUR FEATURES:

Our unit-linked flexi products are based on universal life platform, catering to the customer s

twin needs of insurance and investment. Our customers have appreciated these products,

which have the beneficial features of life insurance, mutual funds and banks. Some of these

features are described below:

1. PROSPECTS FOR GROWTH WITH UNDERLYING GURANTEES :

According to their risk appetite, the customers can choose out of three investment options,

viz, protector (Representing a low risk portfolio), Builder (Medium risk portfolio) or

Enhancer (High risk portfolio) with guaranteed returns fund, at present ranging from 3%-6%.

The flexibility of changing the investment option initially availed by them is also available.

2. GUARANTEES PROVIDE SAFETY NET : The policyholders enjoy the upside

returns provided by the portfolios in all the investment options. As on 31 st December 2002,

the annualized returns since inception under protector, builder and enhancer options were

9.75%, 11.12% and 14.74% respectively, which is above the minimum level guaranteed.



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3. CONVENIENCE IN PAYMENT OF PREMIUMS: The customer has the

option of paying any amount of premium, any number of times (within a policy year)

irrespective of the mode. Traditional products available in the market do not offer such a

facility.

4. BUILT-IN GUARD AGAINST UNITENDED LAPSATION: These

products provide continuity of risk coverage for a long time even if the premiums remain

unpaid. The continuity of risk is ensured with the help of monthly recovery of cost of

insurance and automatic premium advance facility. A policy can lapse if and only if the policy

fund pertaining to the individual policy becomes negative.

5. RISK COVER DOES NOT DECRESE DURING THE TERM OF THE

POLICY : Unlike traditional life insurance policies, where the sum at risk (Sum assured –

paid up value) actually goes on decreasing, in our flexi policies, death benefit is sacrosanct

and remains uniform throughout the tenure of the policy. In case of death, the face amount as

well as the policy fund representing the saving portion in the premium is payable.

1. ACCELERATED PAYMENT OF PREMIUM POSSIBLE : Depending on

one s financial situation a shorter premium -paying period can be selected, with the

advantage of greater accumulation resulting into higher death/surrender/withdrawals/

maturity benefits.

2. LIQUIDITY ON TAP : Traditionally, insurance products have been know to be

illiquid. Policy loans are at a cost and surrenders defeat the very purpose of insurance. In

such an environment, the facility of withdrawals without affecting the risk cover is one of

our unique features.

3. NO PENALTY FOR SURRENDER : Unlike in traditional type of life insurance

policies where the policy holders have to suffer a financial loss on surrender of their

policies, our products do not provide any surrender charge after the first four years.



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4. CUSTOMERS CAN SEE THEIR MONEY PERFORM: Our policyholders

are provided with an access code to know the policy values online. Besides, the

investment performance of the various options is published every quarter and the

policyholders receive a yearly statement reflecting the status of the policy fund.

5. OTHER BENEFITS :

a. Lower premium for female customers

b. „Age last birthday gives the customers advantage of lower age

c. A policy can be customized to the policyholder s requirements. For instance our „Flexi

life line with the facility of limited premium payments and withdrawals thereafter,

becomes a veritable pension plan with attendant tax benefits.

d. Detailed illustration at the point of sale

ORGANISATION STRUCTURE: Two guides Biral sun life insurance business

operations if its core values, namely integrity and transparency. BSLI complies with a all

regulations governing the life insurance business. A high degree of transparency is followed

in al the business practiced and procedures and all employees are governed by an internal

code of conduct.

BSLI abides by the corporate governance framework in accordance with the Kumar

Managalam Birla committee as applicable to the life insurance business, as well as the

provisions of the insurance act, 1938, the companies act, 1956 and the IRDA regulations.

Apart from the above committees overseeing the business operation, the CEO and CGO

certify the audited accounts of the company and company secretary submits a compliance

certificate.

THE BSLI MANAGEMENT TEAM

Mr. Vikram Mehmi (CEO)

Mr. Mayank Bathwal (CFO)



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Mr. Mario Braganza (COF)

Mr. E.N. Goveia (Head-Direct Sales Force)

Mr. Amit Punchhi (Senior Vice President, Distribution)

Mr. Bhavesh Sanghvi (Head Group & Marketing Sales)

Mr. Snehal Shah (Senior Vice President, Special Projects)

Ms. Anjan Grewal (Senior Vice President, Marketing & Communication)

Mr. Rajesh Bhojani (Senior Vice President, DSF Expansion)

Mr. K.H. Venkatachalam (Vice President, Human Resources)

Mr. Fabien Jeudy (Vice President, Chief & Appointed Actuary)

Mr. Lalit Vermani (Vice President – Compliance)

Mr. Vikram Kotak (Chief Investment Officer)

Mr. Bhalachandra Nayak (Vice President – Strategy)

Mr. Bimal Khandelwal (Vice President - Finance & Planning)



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Location of Birla Sun Life Insurance Co. Offices in India



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BRIEF PROFILE OF SEVICES OF ORGANISATION:

Pioneered by Birla sun life insurance, Unit- linked solutions bring together the best of life

insurance and investment, together. A unique combination of security from life insurance and

returns from investment. Introduced in line with the latest global trends, the unit- linked plans

put you in total control of your money. They are simple transparent and flexible. What s

more, they offer 3% minimum guaranteed overall returns on the premium.

Birla sun life insurance provides individual as well as group life insurance solutions aimed at

the corporate sector.

INDIVIDUAL LIFE PLANS: Birla sun life insurance offers number of individual life

plans, which can be given below-

FLEXI SECURELIFE RETIREMENT PLAN: This is a unit-linked retirement

plan to give you efficient returns in the long term so as to build a sufficiently large corpus of

savings on retirement. The planes built in tow phases: the accumulation phases and annuity

phase. During the accumulation phase the plan gives you a choice of three investment options

to invest your money with an option to switch between these funds to match your risk

appetite. What s more it offers a guaranteed minimum return of 3% on your premium

(deposit) amount net of all charges and deductions in this phase. In the annuity phase the plan

gives 2 options to choose from.

FLEXI LIFE LINE PLAN: This plan offers a life insurance cover till the age of 100

years thus providing you with a lifetime of security. It is an investment for your future in

which you accumulate large savings through the benefits of compounding. The plan gives you

the flexibility of making tax-free withdrawals and can be customized as tax efficient pension

during your working years while the plan continues for a lifetime.

FLEXI SAVE PLUS ENDOWMENT PLAN : It is a flexible life insurance plan,

which offers the dual benefit of a life insurance cover as well as large tax-free savings in the



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long term. The plan is taken for a specified period and the benefits are payable in the events of

death during the tenure of the plan or at maturity. The unit-linked nature of the plan coupled

with the benefits of compounding can lead to very efficient returns in the long term.

FLEXI CASH FLOW MONEY BACK PLAN: It is a flexible life insurance plan,

which offers a life insurance cover and gives lump sum payment at periodic intervals. These

periodic payments intervals. These periodic payments help you meet your various financial

obligations at crucial junctures such as education or marriage of your child. The unit-linked

plan also offers you the option of not withdrawing the lump sum amounts and continuing it in

the plan to take advantage of the benefits of compounding.

BIRLA SUN LIFE TERM PLAN: The plan offers large life insurance cover for very

low costs for a specified term. It is a low premium, pure risk coverage plan, which takes care

of one s financial commitments toward his/her depending should anything unfortunate happen

to line policyholder.

BIRLA SUN LIFE PREMIUM BACK TERM PLAN: The plan offers you a life

insurance cover for a specified term. Unlike other term plans this plan refunds the entire

amount of premium that you pay over a period of time. There are two options of maturity

benefits to choose from and what is m ore it is a low cost life insurance plan.

GROUP PLANS: Birla sun life insurance Company offers number of group plans, which

can be, described below-

GROUP GRATUITY SOLUTIONS : It works for your future group gratuityaddresses the need of prudent financial management for a progressive corporate house. The

unique benefit being it provides market-linked returns that present an opportunity for capital

appreciation in the long term. Besides when the fund yields better returns, it decreases the

contribution to the fund in the years.



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GROUP SUPERANNUATION PLAN: Retire in comfort- Birla sun life insurance

offers group superannuating plan as a retirement solution for employees. The plan has

benefits that empower both the employer and employee. The contribution is invested in unit-

linked funds yielding market-linked returns to meet your future needs efficiently. Additionally

original / principal contribution is guaranteed against market fluctuation.

GROUP PROTECTION PLAN: Birla sun life insurance provides group protection

plan for a homogenous group. Under this plan, life insurance cover is provided at an

affordable cost. Renewed every year, it helps fulfill the insurance needs of employees as well

as provide financial security to their families. In the event of death of the member, the

beneficiary (family) of the member gets the benefit. The plan has 6 additional riders and two

options.



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PLANS AT A GLANCE

ELIGIBILITY 30days – 65

years

30days – 65 years 30days – 65 years

MINIUM FACE

AMOUNT

Rs.50, 000 for

minors and

Rs75, 000 for

adults

Rs.50, 000 for

minors and Rs75,

000 for adults

Rs.50, 000 for minors and

Rs75, 000 for adults

DURATION OF

THE PLAN

As per policy

term-5,

10,15,20,25,or

30 years or as

per maturity age-

15, 20,25,30,35

years for minors

and 60,65,70,80

years for adults

As per policy term-5,

10,15,20,25,or 30

years or as per

maturity age-15,

20,25,30,35 years for

minors and

60,65,70,80 years for

adults

As per policy term-5,

10,15,20,25,or 30 years or as

per maturity age-15,

20,25,30,35 years for minors

and 60,65,70,80 years for

adults

PREMIUM

PAYING PERIOD Single pay

5,10,15,20 years

or over the

duration of the

plan

Single pay

5,10,15,20 years or

over the duration of

the plan

Single pay 5,10,15,20 years or

over the duration of the plan

MATURITY

BENEFITS Policy fund Policy fund Policy fund

AMOUNT DUE

TO NOMINEE INEVENT OF

DEATH OF THE

LIFE INSURED

Face

amount+policy

fund

Face amount+policy

fund

Face amount+policy fund

FREELOOK

PERIOD

15 days from the

date on which

you receive the

policy document

15 days from the

date on which you

receive the policy

document

15 days from the date on which

you receive the policy

document



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TAX

BENEFITS**

Under sec 88

and sec 10(10D)

of the income

tax act 1961

Under sec 88 and sec

10(10D) of the

income tax act 1961

Under sec 88 and sec 10(10D)

of the income tax act 1961

RIDERS Accidental

death and

dismemberment

benefit rider

Term rider

Critical

illness rider

Critical

illness plus rider

Waiver of

premium rider

Accidental death

and dismemberment

benefit

Rider

Term rider

Critical illness

rider

Critical illness

plus

Rider

Waiver of

premium rider

Accidental death and

dismemberment benefit rider

Term rider

Critical illness rider

Critical illness plus

Rider

Waiver of premium

Rider

UNIQUE

FEATURES

Minimum guaranteed returns of 3% p.a. on your premium net of all

policy fees of all policy fees and charges. The entire upside in the

performance of the fund is passed on to you.

Three investment fund options: protector, builder and enhancer

with option to switch between funds any time after the first policy year.

Options to make tax-free withdrawals you have additional savings.

Vary the face amount of policy depending on your changing needs

for life insurance during your lifetime.

Surrender your policy without penalty anytime after 4 policy years.



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AREAS OF EXCELLENCE: Drawing from the strength of the joint venture partners.

The aditya Birla group and sun life financial inc. the team of Birla sun life insurance has

crossed several milestones of excellence.

Leadership in unit-linked plans- 95% of sales comes through unit-linked plans. The

company is one of the largest sellers of unit-linked plans in one of the fastest growing life

insurance markets in the world.

The company is a p pioneer in introducing unique product features like a „free look

period and best sales practices such as the use of “sales illustrations”. The regulator has

now introduced the „free look period as an industry norm. The mandatory use of a sales

illustration within BSLI set up a standard of transparency in the industry.

A high persistency ratio of 95.46% by premium.

BSLI has consistently recorded the highest average sum assured of Rs.3, 26,000 and

average premium of Rs.19,500 per policy in the industry with a unit-linked product range.

A very efficient utilization of capital.

Low claims ratio of 0.06% of total policies.

The first advisor to qualify to the “top of the table” (TOT) amongst all Private Life

Insurance companies.

GROWTH OF BIRALA SUN LIFE IN UNIT-LINKED LIFE

INSURANCE:

Another successful financial year came to an end. The company reported an annualized new

business income of Rs.478 crore during the year 2003-04 an increase of 222% over the

premium income lat year. The company of the year-end had an agency force of around 10,250

agents, and 89 ban assurance & corporate partners. All three sales channels came out with

flying colors. During the year 2003-04 the company has launched two new groups and one

individual fund.

During the year 2003-04, the BSE sensex has gone up by 81% but the first quarter of year

2004 was not very exciting for the market except for a huge supply of PSU IPOs. In March

2004, the markets have been choppy and combined with the upcoming elections. This has

caused some amount of investor uncertainty. After a continuous rise between may 2003 and



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January 2004, the quarter saw a correction in the market. The BSE sensex went up to an all

time high in January 2004 and the quarter closed at 5590.60 down almost 4% from December

2003 level. There was a large supply of IPOs by PSUs, which met with a good response. The

fundamentals remained good and foreign institutional investors (FIIS) continued buying even

though the markets declined. The GDP growth numbers has also been encouraging at 10.4%

in October – December 2003 quarter.

The interest rates remained range bound in the quarter with some amount of volatility. The

10- year benchmark G-sec closed at 5.15% at the end of the quarter.

The rupee strengthened further to close the quarter at 43.60/ US $ against Rs.45.61 at the end

of December quarter and Rs.47.50 a year ago. Forex reserves have crossed $ 110 bn in March

2004 on the back of strong growth in FDI and FII inflows.

We will continue to invest in diversified and quality portfolio with a long-term view.

Returns on unit-linked individual life funds

(Based on unit price growth, net of charges) as on 31 st march 2004

PARTICULARS RETURN ON

INVESTMENT

(SINCE INCEPTION) %

ANNUALISED

RETURN

(SINCE INCEPTION)%

LAST I YEAR

(%)

PROCTER 39.20 12.95 20.62

BUILDER 51.11 16.88 28.33

ENHANCER 70.98 23.45 38.56

Returns on unit – linked pension funds:

PARTICULARS RETURN ON

INVESTMENT

(SINCE INCEPTION)%

ANNUALISED

RETURN

(SINCE

INCEPTION)%

LAST I YEAR

(%)

NOURISH 13.94 13.21 13.30

GROWTH 15.54 14.97 14.90

ENCRICH 18.78 17.80 18.10



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PROBLEMS IN ORGANISATION :

[Problems in the organization, which are assigned by officer, are not so big problem. It is clear

that BIRLA SUN LIFE INSURANCE COMPANY is a unit- linked insurance, which are

basically involved in the life insurance solutions. There are number of problem which are as

follows-

The main problem of the organization is that the it is not government organization like a

life insurance solutions.

The second main problem is that lack of believes on the organization by the people.

The third problem assigned by the organization that there are the few branches of the

BRILA SUN LIFE INSURANCE SOLUTION.

Another problem is that the lack of good quality, good skill insurance advisors.

DISTRIBUTION NETWORK:

BIRLA SUN 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 though trained

career agents called „insurance advisor . The team of agency managers and advisors are

geared for productivity enhancement national presence in 44branches and 9development

centers.

ALTERNATE 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 organization from the inception stage. While in India there

was no precedent for selling life insurance though these alternate modes, a philosophy of

piloting and stabilizing the model was adopted.



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The successful business models for banassurance, corporate agency, brokerage, affinity group

and direct marketing are being consolidated. use of the call center and the internet will

continue to be part of the direct marketing initiatives .with a winning multi-channel

distribution system in place ,BSLI alternate channels are frontrunners in bancassurance

business, in partnership with Citibank ,Deutsche Bank, Bank of Rajasthan, Bank Muscat,

Catholic Syrian Bank, Development credit bank and IDBI Bank.

OUR INSURANCE: The selling of insurance to corporate and affinity groups is

developed though dedicated relationship managers. The business focus is on the Aditya birla

group companies and the top corporate in India.

Through this channel, the company has established relationships with more than 100 blue

chips corporate across the country by providing group protection and group retirement

solution. The company has achieved leadership position in-group business in private life

insurance position in providing fund management services for the group retirement plans.

DISTRIBUTION IN TUNE WITH TECHNOLOGY: Technology plays the crucial role,

when distribution spans across more than 50 locations .the IT strategy revolves around

selecting and implementing critical Business applications to support contemporary products

like universal life and aligning process to provide world-class customer services. The systems

are web enabled and equipped to provide consistent information across all touch points

(branches, callcenters website etc.). A high quality wide area network (WAN) was set up to

interconnect all branches and the headquarters at mumbai.

TRAINING TO SUPPORT DISTRIBUTION: In keeping with support throughout

the country. Birla sun life insurance s mission of providing life insurance solutions though

“well trained” p rofessionals, our tanning team has geared up to meet the challenge. We have a

team of qualified professionals to provide the crucial support throughout the country

PRICING POLICY OF THE COMPANY:

KEEP TRACK OF YOUR POLICY FUND: Birla sun life insurance sends you an

annual policy statement on every policy anniversary to keep you completely informed on the

performance of our various funds based on the unit price will be available on our website.



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ELECTRONIC CLEARING SERVICE (ECS): The ECS is a convenient and

hassle- free method of paying premiums through an electronic debit to your bank account.

INVESTMENT FUND PORTFOLIO:

FEES AND CHARGES: The policy loading fee* is an up-front charge and varies as per

the premium payment mode and the policy year as given under:

As a percentage of premium. The policy-loading fee for top up wills 2.0 percent.

UPPER LIMIT OF %ASSETS

IN:

PROTECTOR BUILDER ENHANCER

Government and government

approved securities

85% 70% 55%

Rated corporate bonds (AA and

above)

30% 30% 30%

Money market and other liquid

assets

20% 20% 20%

Infrastructure sectors as defined by the IRDA

25% 25% 25%

Listed equities 10% 20% 35%

POLICY YEAR SINGLE 5-PAY 10-PAY 15-PAY OR

GREATER

1 3% 29.9% 54.6% 65%

2 N/A 5.0% 7.5% 7.5%

3 N/A 5.0% 7.5% 7.5%4 N/A 5.0% 5.0% 5.0%



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CHARGES : Charges towards the cost of insurance will be deducted by cancellation of

units at the prevailing unit price on a monthly basis.

The annual insurance charges per thousand-face amount for sample ages for healthy lives are

as follows:

An investment management free not exceeding 1.5% p.a. of the fund will be charged by

adjustment of daily unit prices. Currently this fee is 1% p.a.

The following administration fees will be deducted by canceling units on a monthly basis.

(a) Rs. 22 per month

(b) An annual charge of Rs. 2.88 per thousand face amount will be deducted in the first

10 years of the policy expect in the second year where it will be Rs. 15.24 per thousand face

amount. From the 11 th year onwards this annual charge will increase subject to a maximum of

3.75%per year.

A monthly rider deduction will apply by cancellation of units on a monthly basis based on the

equivalent monthly rider premium payable over the entire coverage benefit period. If riderdeductions are not guaranteed, then the minimum policy values of your policy might be

affected due to any change in the rates of the rider coverage.

FUND SWITICHING CHARGES:

In a year, one switch between investment fund options is free.

For every additional switch, a charge of Rs.100 will be levied.

SURRENDER CHARGES: The surrender charges is levied in the first four years and

varies based on the year in which the policy is surrender. During the first 24 months of the

policy, the charge will be an amount equal to the annulled premium payable for this policy

.for the purpose of surrender charge only, annualilsed premium is defined as the amount that

is payable if the coverage paying period is equal to the coverage benefit period. In the 25 th

month, the surrender charge is 24 percent of the annualized premium. The surrender charge

Sex/age (yrs) 20 30 40 50 60

Female 0.90 1.16 1.66 4.03 10.66

Male 1.02 1.17 2.15 5.53 13.73



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percent reduces by one for e very month thereafter. If the policy is surrendered at any time

after the 49 th month, the surrender charge is zero.

WITHDRAWAL CHARGES:

In a year tow withdrawals are free of charge

For every additional withdrawal, a charge of Rs.100 will be levied.

AN ILLUSTRATION, WHICH IS SHOWING THE PRICING

POLICY OF THE COMPANY:

THIS PRESENTATION IS PREPARED FOR: Mrs.Nisha Singh

Name of life insured: Mrs.Nisha Singh

Date of birth 01/07/1964/ female

Coverage type Face amount coverage annual (Rs.) benefit

coverage period premium(years) (Rs.)

Flexi save plus (age) 90,000 30 4,563.60

Accidental Death &

Dismemberment rider 90,000 25 151.20

Policy premium 4,714.80

Due and payable Quarterly

The premium and associated benefits are described in the product brochures and the following

illustration. The details provided in the following illustration would enable you to see how

your p premium is being used. If you need help to interpret please contact your insurance

advisor or call Birla sun life insurance Company s toll free number, which is 1600227000.



29

Some benefits are guaranteed and some benefits are variable with returns based on the future

performance of your insure carrying on life insurance business. If your policy offers variable

returns then the policy fund values table will show two different rates of assumed future

investment returns. These rates return are not guaranteed and they are not upper or lower

limits of what you might get back, as the value of your policy is dependent on a number of

factors including future investment performance. The guaranteed amounts are the minimum

amount that you can expect if all the conditions mentioned later are fulfilled.

This illustration ignores the impact of the provisions of the income tax act, 1961. The

provisions of section 88 of the income tax act, 1961 govern a tax rebate for premiums paid

towards an insurance policy. The tax exemption for the benefits paid under a life insurance

policy is governed be section 10(10D) of the I income tax act, 1961. Both these sections may

be applicable to this policy .you may consult a qualified tax advisor for specific tax advice

related to you. If required by the act, we will withhold taxes from the benefits payable under

this policy. We also reserve to you. If required by the act, we will withhold taxes from the

benefits payable under this policy. We also reserve the right to recover from you levies such

as service tax levied by the authorities on insurance transactions.

Please note that in the following pages that illustrate the policy fund values:

The premium and all values shown are for the life insurance coverage and do not include

riders. The rider benefit amount will be payable, wherever applicable in case of happening of

the events as mentioned in the rider brochure in consideration of the payment of additional

premium/charges.

Policy fund values shown as at the end of the year and assume:1. Premiums are paid in full when due,

2. No withdrawals are made,

3. No outstanding policy loans exit,

4. The investment fund options is not changed throughout the lifetime

5. of the policy,

6. Increase in premiums or charges for riders having non-guaranteed

7. premiums or charges are not recovered from the policy fund,



30

8. No change is made in the face amount of the life insurance coverage and

9. Policy fees and charges are at current levels as explai ned in the section “policy fees and

charges”. The premium mentioned in this illustration does not include top -up premium or

any underwriting extras.

10. Upon surrender or maturity of the policy, the amount payable to the policy owner is the

sum of:

11. Guaranteed policy fund surrender /maturity value, and

12. Non-guaranteed policy fund

13. Less any amounts owed to the company.

The sum of 1 and 2 above constitutes the policy fund.

With drawls can be made from the holding account, which comprised the non-guaranteed

policy fund.

Upon the death of the life insured, the death benefit is sum of

(1) Life insurance coverage face amount, and

(2) Policy fund

LESS ANY AMOUNTS OWED TO THE COMPANY

Provided that where the death of the life insured takes place before the commencement of the

policy anniversary, on or immediately following the age when the life insured reaches one

year, only the policy fund shall be payable.

The non-guaranteed policy fund may or may not arise depending on the performance of the

investment fund supporting the policy .an investment by you in any of the investment funds Is subject to market and other risks, the value of the investment fund can go up or down

depending on the factors and forces affecting financial markets. Other than explicit guarantees

provided by the company, there can be no assurance that the objectives of any investment

fund will be achieved.



31

FEES AND CHARGES: The policy loading fee* is an up-front charge and varies as per the

premium payment mode and the policy year as given under:

In addition to the above policy-loading fee, the following policy fees and charges will be

recovered from the policy fund.

1) The cost of insurance of the life insurance coverage will be deducted by cancellation of

units at the prevailing unit price on a monthly basis. The annual insurance charges per

thousand of the life insurance coverage face amount for sample ages for healthy lives are as

follows:

2) An investment management fee not exceeding 1.5 percent per annum of the investment

fund will be charged by adjustment of the daily unit prices. Currently this fee is 1 percent per

annum.

3) Policy administration fees for the life insurance coverage will be reeducated by canceling

units on a monthly basis, as follows:

a) Rs. 22 per month; and

b) Annual charge of Rs. 2.88 per thousand of the life insurance coverage face amount will be

deducted in the first 10 years of the policy expect in the second policy year when it will be Rs.

15.24 per thousand of the life insurance coverage face amount. From the 11 th year onwards

this annual charge (Rs. 2.88 per thousand of the life insurance coverage face amount)

increases at an annualized rate of a maximum of 3.75%, every year.

POLICYYEAR

SINGLE 5-PAY 10-PAY 15-PAY ORGREATER

1 3% 29.9% 54.6% 65%

2 N/A 5.0% 7.5% 7.5%

3 N/A 5.0% 7.5% 7.5%

4 N/A 5.0% 5.0% 5.0%

Sex/age (yrs) 20 30 40 50 60

Female 0.90 1.16 1.66 4.03 10.66

Male 1.02 1.17 2.15 5.53 13.73



33

PREMIUM CALCULATOR

Birla Sun Life Insurance Premium Calculator

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Single Premium Bond

Flexi Life Line

Flexi Cash Flow

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Pay By Term

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LifeCompanion Plan

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Careers

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Media

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News Kit

BSLI News

Awards & Recognitions



34

CHAPTER -3

INTRODUCTION



35

BRIEF HISTORY OF UNIT- LINKED INSURANCE:

The “unit linked life insurance policy” as it is understood and practiced in the west was

introduced in our country only in 2000 when LIC brought in to the market a policy called

“BIMA PLUS”. As a data, expect two or three new companies all the companies are selling

the unit linked life insurance policies. The term “unit” in our country is some how identified

only with the „units sold by UNIT TRUST OF INDIA. This product is also called “EQUITY

LINKED POLICY” or “MARKET LINKED POLICY” to indicate that the returns under

these plans are linked to the market returns of the equities or shares.

The credit of introducing the first unit linked plan goes to UTI when they brought out the Unit

linked life insurance (ULIP) in 1971,In 1989 LIC Mutual Fund introduced the „DhanRaksha

Plan identified to the ULIP. The term of the policy in either 10 or 15 years. With the effect

from 1-7-02 the target amount under these two schemes has been introduced to Rs. 2 lakhs

from Rs.75, 000.it works like this: from the uniform contribution for each year (for example

@Rs.20,000 for ten years) a small portion is used to buy term death cover for Rs.2 lakhs and

the balance is invested in units and at the end of ten years the accumulations made in your

account is given as the maturity benefit along with a 5 or7.5% bonus. There is some

restriction in full death cover in the first two years. After two years the full death benefit will

be paid equal to the target amount. a free accident cover is also given for Rs.50,000. From

April 2000 this plan is made NAV driven and UTI has made several beneficial changes. In

fact, these plans are considered to be the cheapest insurance with good returns! As life

insurance people are not making these plans, they are not very popular in large numbers.

The concept involved in these unit or equity – linked policies is that as the major part of your

premium amounts paid over a period of years is invested in equities and other capital market

instruments year after year, the return when it comes will not be affected very much byinflation as it happens in a maturity value of the policy in any average life insurance policy for

the same period. The idea of linking insurance benefits to the performance of units was first

tried for annuities. The annuity benefit was for a fixed number of units, the value of which

depended upon the market value of a portfolio of equity assets. The teachers insurance and

annuity association in USA first introduced this method in 1952 to pay the annuities in

collaboration with the college retirement equity fund. The insurance companies could not

follow this method to extend the benefit to the general public due to legal obstacles and



36

funding problems till 1964. In 1959 the US supreme court ruled that such insures will be

subject to the regulation of Securities and Exchange Commission (SEC) only in 1964 the SEC

permitted insurance companies to introduce such annuities.

While it is called “Unit - linked life insurance policy” in UK it is called “Variable insurance

contracts” in USA. It is rightly called “variable” because both the premiums and the benefits

under the policy are „variable according to eh choice of the policyholder. What is paid under

the policies is the returns on the performance of the chosen equities and not a fixed sum as in

an ordinary policies. The majority of them are whole life plans.

In USA, since the variable life insurance products switches the investment risk from the

insurance company to the policy owner, these types of policies are considered both insurance

contracts and securities and are regulated by both the securities &exchange commission and

the state insurance commissioner. An agent authorized to sell variable life insurance must be

licensed by the state as well as by the National Association of Securities Dealers (NASD) to

work as a registered representative.

As a security, variable insurance products are regulated by the securities &exchange

commission, which brings out a new set of agent requirements dealing, primarily with full and

fair disclosure laws. For example, any sales presentation or illustration must be preceded by

or accompanied by a prospectus approved by the SEC. all materials used in selling and the

SEC must also approve promoting these product prior to use.

In our country, however, only the IRDA regulates this policy and the investment of the

premiums collected under the policies. Also it is enough if the selling agent has passed the

basic IRDA insurance license examination. No special qualifications are need by the agentand SEBI does not have any control over the designing of or illustration prepared by the

insurance companies in selling such policies.



37

ABOUT THE INDUSTRY

A joint venture between the Aditya Birla Group and Sun life Financial, Birla sun life

insurance forayed into the life insurance and retirement planning business by pioneering the

unique unit-linked solutions in India. In just over 2 years of its launch, the company has

catapulted to second position in new business premium in the highly competitive private life

insurance industry based on its strategy of unit-linked plans.

RULES & REGULATIONS THE ADITYA BIRLA GROUP:

“Aditya Birla”, a name that evokes all that is positive in business and life. It typifies integrity,

quality, performance, innovation, perfection and above all, character. In operation for over 50

years now, the Aditya Birla Group is one of India s lar gest business houses. A highlyrespected and admired group, rooted in performance ethics based on value creation for its

multiple stakeholders. The Aditya Birla Group s operations span over 40 units across 18

countries, anchored by a 72,000 strong committed workforce, a group turnover exceeding

Rs.27, 000 crore, an asset base which exceeds Rs.20, 000 crore and a market capitalization of

over Rs.13, 000 crore spread over 7 lac shareholders. Known for its rack solid fundamentals it

nurtures a culture where success does not come in the way of the need to keep learning afresh

to continue innovating and to carry on experimenting.

Being one of the largest corporate houses in India, and Aditya Birla Group enjoys a dominant

position in all the sectors in which it o perates. It is the world s largest producer of viscose

staple fibre, largest single location aluminum plant and the largest single location refiner of

palm oil. What s more, it is the second largest producer of insulators and the fifth largest

producer of carbon black in the world.

In India, the group is the single largest producer of viscose filament yarn, aluminum, white

cement and the third largest in grey cement. Not to mention, the recognition of being the

market leader in the ready to wear branded apparel segment with brands like Allen Solly,

Louis Phillip, Van Heusen and peter England.

The flagship companies of the Aditya Birla Group include some of the largest and most

respected companies in India such as Grasim Industries Limited, Hindalco industries limited,

Indian Aluminum Company limited, Indian Rayan Industries Limited, Indo Gulf Corporation



38

Limited. The Group has larged power relationship with large corporations like Hindustan

Petroleum, Tata, Powergen Plc and AT&T.

The group fosters a culture that promotes excellence and rewards entrepreneurship. It

endeavors to make the workplace a source of creativity, innovation and self-fulfillment for its

employees. Nurturing a corporate culture imbedded with a high level of commitment and a

sense of shared destiny.

The mission of the Aditya Birla Group is creation of value for its customers, shareholders,

employees and the society at large.

SUN LIFE FINANCIAL:

Sun life financial is a leading international financial services organization. With a history that

dates back to 1871, Sun life financial has evolved from a single mutual life insurance to one

of the most highly rated insurance and wealth management institution in the world. Sun life

financial knows its value lies in more than assets and history. It also lies in the culture of the

integrity and the pursuit of excellence that have marked all of the organization endeavors.

Today the sun life financial group of comp anise and the partners are represented globally in

Canada, the United States, the Philippines, Japan, Indonesia, India and Bermuda.

In March of 2000, Sun life financial services of Canada, Inc, Sun life financier s parent

company, listed its shares on stock markets in Toronto, New York, London, and Philippines.

This new access to shareholders equity provides Sun life financial with even greater

opportunities to grow around the world.

The Sun life financial group of companies around the world, offer innovative and practical

financial solutions to individuals and corporations:

Life, Health and Disability

Pension Funds and Plans

Investment Management

Annuities and Savings

Trust, Brokerage and Banking



39

Sun life assurance Company of Canada, sun life financier s primary insurance business, has

excellent ratings with the world s top rating s agencies. With assets under management as on

September 30, 2000 totaling more than CDN$345 billion, it ranks amongst the largest

international financial services organizations in the world. Sun life financial enjoys

independent rating that place us at the top of the financial sector in North America.

VISION:

To be a world-class of financial security to individuals and corporate and to be amongst the

top three private sector life insurance companies in India.

MISSION:

To be the first preference of our customers by providing innovative need based life insurance

and retirement solutions to individual as well as corporate. Well – trained professionals

through a multi channel distribution network and superior technology will make these

solutions available.

Our endeavor will be to provide constant value addition to customers throughout their

relationship with us, within the regulatory framework. We will provide career development

opportunities to our employees and the highest possible returns to our shareholders.



40

CHAPTER -4

DATA ANALYSIS



41

TABULATION & ANALYSIS:

From the above 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?

This graph show that 64% people plan for their savings and investment and 36% don t

many people plan for their savings and investment .

0%

10%

20%

30%

40%

50%

60%

70%

YES NO

PEOPLE (IN %)

YES NO

PEOPLE (IN %) 64% 36%



42

QUESTION NO.2 - How many people take help of professional advisor

for their investment?

This graph show that 35% take help of professional advisor for their investment and

65% don t take help of professional advisor for their investment.

0%

10%

20%

30%

40%

50%

60%

70%

YES NO

YES

NO

YES NO

PEOPLE (IN %) 35% 65%



43

QUESTION NO. 3- Number of people save regularly for-

SAVING ALTERNATIVS PEOPLE IN %

RETIREMENT 15%

CHILDREN’S EDUCATION 25%

CHILDREN’S MARRIGE 40%

TAXATION 15%OTHERS 5%

This graph show that people save their money regularly 15% for retirement,25% for

children s education,40% for children s marriage, 15% for tax and 5% for other.

0%

5%

10%

15%

20%

25%

30%

35%

40%

PEOPLE IN %

RETIREMENT

CHILDREN’S

EDUCATION

CHILDREN’S

MARRIGE

TAXATION

OTHERS



44

QUESTION NO. 4 – How many people save through insurance?

This graph shows that 35% people save their money from insurance and 65% people

save their money from other sorce.

0%

20%

40%

60%

80%

100%

YES NO

PEOPLE (IN %)

YES NO

PEOPLE (IN %) 35% 65%



45

Q1. Name & Age

58 percent of the officials belong to the age group of 35 and 50

22 percent of the officials belong to the age group of 25 to 34

20 percent of the officials belong to the age group of above 50

0%

10%

20%

30%

40%

50%

60%

25-34 years

35-50 years

50years +



46

Q2. Sex

69 percent are male officials

31 percent are female officials

0%

10%

20%

30%

40%

50%

60%

70%

male

female



47

Q3. Educational Qualification

72 percent are graduates and above

12 percent are those who are having technical and professional qualifications

16 percent are undergraduates.

55 percent are those who are associated with the field

25 percent are those who are in the managerial and administrative posts.

20 percent belongs to the others category.

0%

10%

20%

30%

40%

50%

60%

70%

80%

graduates

technical qualification

undergraduates

peolple associated withinsurance sector



48

Q4. How do you see the market for General Insurance industry in India?

Has a good prospect -------------------------67 percent

Same as life insurance industry ------------ 21 percent

Do not have a good prospect ------------ 8 percent

Do not know/ Can not say --------------- 4 percent

0%

10%

20%

30%

40%

50%

60%

70%

good prospect

similar to life insurancesector

bad prospect

cant say



49

Q5. Why did you choose Birla Sun Life Insurance why not any other

insurance?

88 percent ----------------it gives better return and other facilities along with fringe

benefits

9 percent ------------------ other life insurance policies are not so lucrative than those

promote by Reliance

3 percent ------------------ do not know / can not say

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

it gives better returns

Birla Sun Life Insurance ismore lucrative

cant say



50

Q6. What marketing strategies the company is adopting to promote its

products and services?

77 percent ------------------------ target oriented aggressive marketing

8 percent ------------------------ As per the market demand

12 percent --------------------- Following the company policies and principles.

3 percent ---------------------------- Do not know / Can not say

0%

10%

20%

30%

40%

50%

60%

70%

80%

aggressive marketing

strategy as per market demand

following thecompany's policies

cant say



51

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 k now 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 year by paying a

small fee 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 illnesses.

You can buy the policy with a single 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.



53

CHAPTER-5

SUGGESTIONS



54

SUGGESTIONS

By this project report there are the number of suggestion which can be given to the company

are given below-

Company should recruit well-informed, well-qualified, well-financial knowledge. So that he

will success to satisfy the potential customer for their investment or savings.

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 the material facts so that it

can charge the “correct premium” based on the factors of risk presented.

How to deal with the situation? The companies or IDRA cannot educate the policyholder.

They should educate the agent.

Prospective unit-linked policy buyers should understand the structure of the plans , 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 get better returns on their investment elsewhere and

whether their investment horizon matches the long lock-ins over which these plans offer the

best rewards.

Insurance companies will generally give you a picture on the 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.

Insurance companies allow you to shift from one fund to the other at any point of time. This

can be useful if you want to plan your investment based on your life needs.



55

CHAPTER-5

CONCLUSION



56

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.



58

ANNEXURES

Under the annexure we include-

Questionnaire

Survey Form

Survey form

An illustration of the company policy (All the documents which are received by the client at

the time of policy)



59

QUESTIONNAIRE:

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

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

---------------------------------------------------------------------------------------------------

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

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

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

Family Particulars:

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

No. Of Children --------------------------------------------------------------------------------

1. Have you ever heard about Birla Sun Life Insurance?

Yes No

2. From where you got to know about Our Company?

Television Magazines Others

3. Do you take help of professional advisor for your investment?

Yes No

4. Do you save regularly for

Retirement Children s marriage

Children s education Taxation Others

5. Do you save through insurance?

Yes No

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

Yes No

7. Would you like to get help with our Insurance Company?

Yes No



60

10.2 SURVEY

(Sampling page)

Sources Of Names

A. School / college friendsB. Family friends

Source Letter

Persistencysource

C. Neighbours

D. Through Spouse

E. Through children

F. Through Hobbies / Spot

G. Previous employment

YEARLY INCOME

(In Rupees)

> 1 Lakh

> 1 Lakh but < 2.5 Lakhs

> 2.5 Lakhs but < 5 Lakhs

> 5 Lakhs

AGE

18 – 25 YEARS

26 – 35 YEARS

35 – 44 YEARS

OVER 45 YEARS

OCCUPATION Professional / proprietor

Manager / Executive

MARITAL STATUS Single

Married

ABILLITY TO

PROVIDE REFERALS

Good

Fair

Q 1 What marketing strategies the company is adopting to promote its products

and services?

Q2. Why did you choose Birla Sun Life Insurance why not any other insurance?

Q3. How do you see the market for General Insurance industry in India?

N A M E S S U B M I T T E D



61

Q4. Educational Qualification

Q5. Sex

Q6. Name & Age

Q.7 Please express your opinion for the premiums paid for the above policy?

a) Very high [ ]

b) High [ ]

c) Moderate [ ]

d) Low [ ]

e) Very Low [ ]

Q.8 How do you come to know about this policy? (Please tick).

a) Advertisements [ ]

b) Friends and re la ti ves [ ]

c) Direct selling agents [ ].

d) Others (please specify)_____________________.

Q.9 Are there any incentives (tax benefits or Bonuses) associated with this policy?

(Please give appropriate details about it).

____________________________________________________________________

________________________________________________

10. Are you satisfied with the incentives associated with your policy?

a) Highly satisfied [ ].

b) Sati sf ied [ ]

c) Moderate [ ]

d) Unsatisfied [ ]



e) Highly Unsatisfied [ ].

Q. 11 If you are given a choice, which one you take:

A) ICICI

B) BIRLA SUNLIFE

C) TATA AIG

D) BAJAJ ALLIANZ

E) LIC

F) SBI

Q12 What other plans or flexibility you expect from Insurance companies?

A) More returns

B) Complementary gifts

C) Investment Pattern

role of advisor

Documents