unit linked insurance plan -2833

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MARKET SURVEY ON UNIT LINKED INSURANCE POLICY WITH SPECIALREFERENCE TO ICICI PRUDENTIAL FOR WAY2WEALTH

By

N.GEETHA ARTHY

(Reg. No 35103082)

A PROJECT REPORT

Submitted to the department of

SCHOOL OF MANAGEMENT

In partial fulfillment of the requirements

for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

SCHOOL OF MANAGEMENT

SRM INSTITUTE OF SCIENCE AND TECHNOLOGY

Deemed University

June, 2005


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BONAFIDE CERTIFICATE

Certified that this project report titled MARKET SURVEY ON UNIT LINKED

INSURANCE POLICY WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL

FOR WAY2WEALTH is the bonafide work of Miss M. GEETHA ARTHY (35103082)

who carried out the research under my supervision. Certified further, that to the best of my

knowledge the work reported herein does not form part of any other project or dissertation on

the basis of which degree or award was conferred on an earlier occasion on this or any other

candidate.

Prof. T.P. Nagesh Dr. Jayashree Suresh,

Signature of the Project Guide Signature of the HOD

Signature of the external examiner

05.04.2005

TO WHOMSOEVER IT MAY CONCERN

This is to certify that Miss. N. GEETHA ARTHY, a Final Year M.B.A., student of

S.R.M. Institute of Management Studies, Kattankulathur has successfully completed her three

months summer project MARKET SURVEY ON UNIT LINK INSURANCE POLICY

WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL FOR WAY2WEALTH at

our company from 03.01.2005 to 31.03.2005. She has been very helpful in finding some

solutions to our problem and solve them effectively.

Yours sincerely,

Regional Sales ManagerWay2wealth


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ABSTRACT

As a part of my academic curriculum I have conducted a report on Market survey of unit

linked insurance policy with special reference to ICICI prudential for Way 2 Wealth

The title of this project clearly states that the purpose of the study is to know the

awareness of the unit linked products. The study is basically done for ICICI prudential life

insurance company to know the awareness level about the unit linked insurance product among

their existing bank customers. This would also help the company in knowing the satisfaction

level of the customers and how to improve them. This helps the company in knowing through

which media the awareness are created and in future which media they can concentrate to

improve this awareness.

The survey was based on a formal interview and the responses are obtained through

questionnaires. The city selected is Chennai and convenience sampling was adopted to conduct

the survey.

The size of the samples were restricted to150 respondents due to the time and financial

constraints. Sampling has its own limitations, being biased and unsatisfactory. The data collection

was analysed through using statistical tools like Kolmogrov Smirnov test, Spearmans rank

correlation, Chi-square test.

The major findings are reported at the end of this project work on the basis of findings

suitable suggestions have been made to the company.


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ACKNOWLEDGEMENTS

I take this opportunity to acknowledge the contributions of all those who inspired me,

do the best in this endeavor. There has been many a contribution for the completion of this

project.

I wish to express my sincere gratitude to Mr. Selvakumar,Regional Sales Manager of

Way2wealth, Alwarpet, Chennai, for giving me an opportunity to work in this division. I am

indebted to the guidance and wholehearted support extended by guides, Mr. Varadharajan, Mr.

Subburaman andMr. Sadagopan, Business Development Managers of Way2wealth, Alwarpet,

Chennai. I also take this opportunity to thank my project guide Mr. Nagesh and Mr.

Sadashivam, SRM School of Management Studies., whose timely suggestions were extremely

helpful in designing the report.

I will be failing in my duty if I do not mention the help & support rendered by my

friends who had help me in completing this project. Last but not the least I thank god for all the

good experience I gained under his vision and would also like to express my heartfelt gratitude to

my parents whose encouragement has been invaluable in accomplishing this project.

N. GEETHA ARTHY


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TABLE OF CONTENTS

CHAPTER

NO.TITLE PAGE NO.

I INTRODUCTION 1

II STATEMENT OF THE PROBLEM 4

III OBJECTIVES OF THE STUDY 5

IV REVIEW OF LITERATURE 6

VMETHODOLOGY AND

LIMITATIONS OF THE STUDY11

VI COMPANY PROFILE 19

VII ANALYSIS AND INTERPRETATION 27

VIII FINDINGS 61

IX SUGGESTIONS 63

X ANNEXURE QUESTIONNAIRE 64

XI BIBLOGRAPHY 67


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LIST OF TABLES

TABLE

NO.

TITLEPAGE

NO.

3.1 Gender Classification 27

3.2 Age of the Respondent 29

3.3 Income of the Respondent 31

3.4 Ranking In order of preferences to the various savings schemes 33

3.5 Investment in insurance 34

3.6 Type of Insurance 36

3.7 Factors Influencing Purchase of Insurance 38

3.8 Expectations from an Investment 40

3.9 Whether there is a single product to satisfy all the expectations 42

3.10 Unit linked insurance product satisfy all the expectations 44

3.11 Awareness of ULIP 46

3.12 Level of Satisfaction with references to ULIP 48

3.13 Companies offering ULIP 50

3.14 Invested in ULIP 52

3.15 Level of Satisfaction with respect to service provided 54


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LIST OF FIGURES

TABLE

NO.TITLE

PAGE

NO.

3.1 Gender Classification 28

3.2 Age of the Respondent 30

3.3 Income of the Respondent 32

3.4 Investment in insurance 35

3.5 Type of Insurance 37

3.6 Factors Influencing Purchase of Insurance 39

3.7 Expectations from an Investment 41

3.8 Whether there is a single product to satisfy all the expectations 43

3.9 Unit linked insurance product satisfy all the expectations 45

3.10 Awareness of ULIP 47

3.11 Level of Satisfaction with references to ULIP 49

3.12 Companies offering ULIP 51

3.13 Invested in ULIP 53

3.14 Level of Satisfaction with respect to service provided 55


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CHAPTER-1

INTRODUCTION

Life insurance is widely accepted as one of the most attractive financial

instruments in an individual portfolio, that provides an assurance of security with

attractive returns.

" Life insurance is a contract for payment of a sum of money to the person

assured (or failing him/ her, to the person entitled to receive the same) on the happening

of the event insured against".

Usually the contract provides for the payment of an amount on the date of

maturity or at specified dates at periodic intervals or on unfortunate death, if it occurs

earlier. Among other things, the contract also provides for the payment of premium

periodically to the corporation by the assured. Life insurance is universally acknowledged

to be an institution, which eliminates `risk', substituting certainty for uncertainty and

comes to the timely aid of the family in the unfortunate event of the death of the

breadwinner. By and large, life insurance is civilization's partial solution to financial

uncertainties caused by untimely death.

Life insurance, in short is concerned with two hazards that stand across the life

path of every person: that of dying prematurely leaving a dependent family to fend for

itself and that of living too old with out visible means of support.

The life insurance companies in India play around 1,50,000 crore in the market.

The LIC fund is the major occupied company among all the insurance companies playing

in the market. ICICI Prudential was amongst the first private sector insurance companies

to begin operations in December 2000 after receiving approval from Insurance

Regulatory Development Authority (IRDA). Now it is the number one company among

all the private players in the market and has a market share of 37 percent with a capital of

100 crore.


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1.1.1 THE COMPANY

ICICI Prudential's equity base stands at Rs 6.25 crore with ICICI Bank and

Prudential plc holding 74% and 26% stake respectively. As of December 31, 2003, the

company had issued over 550,000 policies, with a sum assured exceeding Rs 13,000 crore

and premium income of over Rs 1000 crore. Today the company is the #1 private life

insurers in the country.

1.1.2 OUR VISION

To make ICICI Prudential the dominant Life and Pensions player built on trust

by world-class people and service.

1.1.3 ICICI BANK

ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs

106812 crore. ICICI Bank provides a broad spectrum of financial services to individuals

and companies. This includes mortgages, car and personal loans, credit and debit cards,

corporate and agricultural finance. The Bank services a growing customer base of more

than 7 million customer accounts and 5 million bondholders' accounts through a multi-

channel access network. This includes about 450 branches and extension counters, 1675ATMs, call centers and Internet banking (www.lcicibank.com). ICICI Bank posted a net

profit of Rs 1,206 crore for the year ended March 31, 2003. ICICI Bank is the only

Indian company to be rated above the country rating by the international rating agency

Moody's and the only Indian company to be awarded an investment grade international

credit rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading

I n d i a n r a t i n g a g e n c i e s .


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1.1.4 PRUDENTIAL

Established in 1848, prudential is a leading international financial services

company in the UK, with around US$250 billion funds under management and more

than 16 million customers worldwide. Prudential has brought to market an integrated

range of financial services products that now includes life assurance, pensions, mutual

funds, banking, investment management and general insurance. In Asia, Prudential is

UK's largest life insurance company with a vast network of 22 life and mutual fund

operations in twelve countries - China, Hong Kong, India, Indonesia, Japan, Korea,

Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Since 1923,

Prudential has championed customer-centric products and services, supported by over

60,000 staff and agents across the region.

CHAPTER-2

STATEMENT OF PROBLEM

This study is basically done for ICICI PRUDENTIAL LIFE INSURANCE

COMPANY to know the awareness level about the unit link insurance product among

their existing bank customers. The research study done here has a dynamic scope, which

is to find and improvise the awareness level and responds in the life insurance business.

This might also help the company in know in the satisfaction level of the customers and

how to improve them. This helps the company in knowing through which media the

awareness are created and in future which media they can concentrate to improve this

awareness.


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CHAPTER-3

OBJECTIVES OF THE STUDY

3.3.1 PRIMARY OBJECTIVE

The main objective of the project is to ascertain the "AWARENESS OF UNIT

LINK INSURANCE PRODUCTS " among the existing ICICI BANK customers.

3.3.2 SECONDARY OBJECTIVE

To identify the various savings schemes of the respondents

To know the opinion about the insurance scheme

To find the factors that influence to buy insurance

To find the level of satisfaction about the ULIP

To find the level of satisfaction with the services provided by the company

CHAPTER-4

REVIEW OF LITERATURE

INSURANCE INVESTMENT - THE NEW PARADIGM

Insurance industry has been a perennial source of funds both for short term and

long-term needs of governments at all levels - Central, State and Local. It also caters to

the needs of capital markets where the corporates can meet their exacting standards of

investment that are know as prudential norms.

Through harnessing people and corporate savings for future, insurers divert that

stream of savings into investment channels. The premiums that are pooled are in the

nature of trust fund since they belong to policyholders and they should be well managed

ensuring their safety and productivity. Insurers cannot afford to keep them idle even for


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a single day. There fore, public sector insurance companies are allowed to operate in call

money markets. They also invest in number of other short term financial instruments for

a period of less than 30 days. Cash flow management is essential for insurers. The main

purpose of investments both in life and non-life companies is matching assets and

liabilities. Asset-Liability management is a specialized area where insurers have to payspecial attention.

Insurance is essentially funding business. This fund should be self-sustaining by

continuous flow of premiums, underwriting profit and investment returns. In some

cases, it is strengthened by reinsurance recoveries. This fund gets depleted by claim

payments, management expenses and underwriting losses in some cases. Therefore, both

inflows and outflows are be balanced.

Insurance industry in India is at the threshold of a great financial revolution.

India is poised for faster economic growth. Economy is reaching 7 to 8% growth in

GDP. Per capital incomes are growing. Globalization and liberalization opened new

threats and challenges. The Indian middle class and lower middle class want to seize

these opportunities. Insurance industry is ready to play its role. This great country needs

all the investment funds the insurance industry offers and the India insurers will play

their role in generating more and more investible funds through insurance business.

INDIAN LIFE INSURANCE INDUSTRY: ISSUES AND CHALLENGES

After the license was issued to private insurance players in October 2000, the

growth of this sector has been phenomenal. Experts opine that the result of the three

years of privatization has been extremely positive and the future looks promising. But,

there are several key issued that need to be addressed immediately.

One major change is in the way insurance is marketed in India. From a tax-

incentive - driven sale, the focus has now been shifted to a need based selling approach.

Today, the Indian life insurance industry has a dozen of private players, each of themmaking strides in raising awareness levels, introducing innovative products and increasing

the penetration of life insurance in the vastly underinsured country.

Rural Market


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In a country of over 1 billion people, life insurance premia until very recently

formed only 1.8% of GDP and only 8% of the population insured. More than 40 crore

of the insurable population is still not insured. Many of those insured are also not

adequately insured. A recent survey suggests that rural market hold tremendous potential.

But most of the players do not seem to be enthusiastic about rural market. Insuranceplayers need to work out appropriate consumer awareness campaigns amongst the rural

masses and develop marketing strategies to tap this huge market.

Foreign participation

Across the world, FDI had helped to grow the insurance industry. insurance,

being a highly capital intensive sector, requires huge investments over a prolonged period

of time and there is a constant need for capital injection. Now, the government has given

the approval for a hike of 49% across all segments including life insurance, non-life

insurance and the reinsurance companies. With this approval, Indian insurance industry

ca see some more active role of the global insurance giants.

Health Insurance

Health insurance sector has a great potential in the country, but remains highly

underdeveloped. According to some estimates, only 3% of India's population is covered

under some form of voluntarily health insurance schemes. These need the regulators

attention for its development.

CHANGING CUSTOMER BEHAVIOUR IN INSURANCE BUYING

"There are known knows; these are things we know we know. We also know that

there are known unknowns, that is to say we know there are some things we do not

know. But there are also unknown unknowns- the ones we don't know we don't know".

In Insurance buying, most customers would probably describe their level of

understanding of insurance contracts in the above manner.

CHANGING EXPECTATIONS

A remarkable trend in the insurance industry in the last three years is the rapid

change in the knowledge level as well as expectations of the customers. The Insurance

industry has witnessed a few unique aspects, such as regulation-inspired efforts to


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educate insurance buyers, and a vast change in the skills and capabilities of the

intermediaries involved in the distribution.

MOTIVATING FACTORS

Security of the money invested, saving for one or more specific purpose, and the

availability of tax benefit. On the issue of the consumers perception of security of the

money invested, there are two important aspects. One is how the features of the

insurance contract are put across the buyer. The second is how to address more

effectively the question about the dependability of the new generation companies that

potential new insurance buyers raise during sales calls especially outside metros and in

small towns.

CONSUMER'S EXPERIENCE

There has been a vast change in the approach of the insurance agent from the

pre-liberalization days. While the agent in the past established informal contacts with

potential buyers and often depended on referrals from friends and family members, the

new age companies insist on a professional, and often aggressive stance on the part of

the sales staff.

Customer expectations in this regard revolve around two key aspects; first,

whether the customer is getting truthful advice from the agent, or if he is pushing aproduct that yields him the highest commission rate. Thanks to the general publicity

given by new insurance companies about the protection aspect of insurance, customers

in major cities have come to appreciate the need for higher level of insurance cover with

reference to their earning stage in working life. Life insurance is widely accepted as one

of the most attractive financial instruments in an individual portfolio, that provides an

assurance of security with attractive returns.

" Life insurance is a contract for payment of a sum of money to the person

assured (or failing him/ her, to the person entitled to receive the same) on the happening

of the event insured against".

Usually the contract provides for the payment of an amount on the date of

maturity or at specified dates at periodic intervals or on unfortunate death, if it occurs

earlier. Among other things, the contract also provides for the payment of premium


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periodically to the corporation by the assured. Life insurance is universally acknowledged

to be an institution, which eliminates `risk', substituting certainty for uncertainty and

comes to the timely aid of the family in the unfortunate event of the death of the

breadwinner. By and large, life insurance is civilization's partial solution to financial

uncertainties caused by untimely death.

Life insurance, in short is concerned with two hazards that stand across the life

path of every person: that of dying prematurely leaving a dependent family to fend for

itself and that of living too old with out visible means of support. The life insurance

companies in India play around 1,50,000 crore in the market. The LIC fund is the major

occupied company among all the insurance companies playing in the market. ICICI

Prudential was amongst the first private sector insurance companies to begin operations

in December 2000 after receiving approval from Insurance Regulatory Development

Authority (IRDA). Now it is the number one company among all the private players in

the market and has a market share of 37 percent with a capital of 100 crores.

CHAPTER-5

RESEARCH METHODOLOGY

A research cannot be conducted abruptly. Researcher has to proceed

systematically in the already planned direction with the help of a number of step in

sequence. To make the research systemized the researcher has to adopt certain methods.

The methods adopted by the researcher for completing the project is called Research

Methodology.

In other words, Research Methodology is simply the plan of action for a research

which explains in detail how data is to be collected, analysed and Interpreted.

Datas becomes information only when a proper methodology is adopted. Thus

we can say Methodology is a tool which process the date to a reliable information. The

present chapter attempt to highlight the research methodology adopted in this project.


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5.1 RESEARCH DESIGN

A research design is a arrangement of conditions for collection and analysis of

data in a manner that aims to combine relevance to the research purpose with economy

in procedure.

Fundamental to the success of nay research project is the sound research design.

A research design is purely and simply the framework and plan for the study that guides

the collection and analysis of data. It is a blue print that is followed in completing a study

5.1.1 TYPES OF RESEARCH DESIGN

There are 3 basis types of research design

1. Exploratory Research Design

2. Descriptive Research Design

3. Experimental Research Design

Out of the research design said above the research design took for the study was

Exploratory Research Design

Exploratory Research Design

The Exploratory Research throws light on defining a problem, in discovering

new ideas, and sights deep into the problem at hand.

Importance of Exploratory Research Design

Exploratory study can be used to establish priorities in studying the competing

explanation of the phenomenon. It helps in formulating a problem in terms of problem

definition or Hypothesis It helps in clarifying concepts.

5.2. DATA COLLECTION METHODS

Selection of Appropriate Method, the researcher should keep in view of the

following factors.

Nature, scope and object of enquiry


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Availability of funds

Time factors

Precision Required

There are two different methods for collection of data to conduct this

exploratory study.

1. Primary Data Collection Method

2. Secondary Data Collection Method

In this study the primary data collection method have been used to collect data.

Now let us see about the primary data collection method

5.2.1 PRIMARY DATA COLLECTION

Primary data are those which are collected a fresh and for the first time, and thus

happen to be original in character. Primary data collection is nothing but the data that is

directly collected from the people by the researcher himself.

Primary data may pertain to demographic / socio economic characteristics or the

customers, altitudes and opinions of people, their awareness and knowledge and other

similar aspects. In this study Primary Data collection method has helped the researcher

to a great extent in arriving at the results.

5.2.2 METHODS OF PRIMARY DATA COLLECTION

There are three methods of collecting Primary data

1. Survey

2. Observation

3. Experiments

Among these, the method adopted for the study was Survey Method

5.2.3 SURVEY METHOD

Survey method is the systematic gathering of data from the respondents survey is

the most commonly used method of primary data this is widely used because of its


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1. Extreme Flexibility

2. Reliability

3. Easy Understandability

The main purpose of survey is facilitate understanding or enable prediction of

some aspects of the population being surveyed

5.2.4 SURVEY TECHNIQUE

The technique used for conducting the survey is called Survey Technique. There

are three technique to conduct the survey Viz.

1. Personal Interview

2. Telephone Interview

3. Mail Survey

The technique which has been in this survey is the Personal Interview.

DATA COLLECTION METHOD

The instrument used to collect data for the study was the structured

questionnaire.

5.3. SAMPLING

Sampling may be defined as the selection of some part of an aggregate or totality.

On the basis of which a judgement or inference about the aggregate or totality is made.

Research conducted by considering only a few units of population is called as Sampling.

Sampling is an important and persuasive activity. Sampling technique has got its own

Range of advantages

1. Reduce cost owing to a study of selected units from the population

2. Greater speed is there due to smaller units to be studied

3. Greater accuracy is results

4. Greater depth of information


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5. Reservation of units for reuse in destructive nature of experiments is

possible

5.3.1 METHODS OF SAMPLING

In this study non probability sampling has been adopted. Under the non

probability sampling convenience sampling has been taken for the purpose of study.

CONVENIENCE SAMPLING

The sampling units are chosen primarily on the basis of convenience to the

researcher is known as Convenience Sampling.

SAMPLE SIZE

One can say that the sample must be an optimum size that it is should be

excessively large nor too small. Technically, the sample size should be large enough to

give a confidence interval of desired width and as such the size of the sample must be

chosen by logical process before sample is taken from the universe. In order to extract

much feasible results through the study. A sample size of 150 has been taken for the

study.

5.4. QUESTIONNAIRE DESIGN

Questionnaire

The term Questionnaire refers to a self-administered process whereby the

respondent himself/herself reads the questions and records the answers with out

assistance of an interviewer. Questionnaire is an essentially question asking and data

gathering tool. A Questionnaire Is more structured and standardized than any other tool

used in the similar technique by an investigator. The investigator has used four type of

questions in this study. They are pointed and briefly described below:

Close-end questions

Such questions are also called fixed alternative questions. They refer to those

questions in which the respondent is given a limited number of alternative responses

from which the respond should select the one that most closely maches to their opinion.


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Dichotomous questions

A dichotomous question refers to one which offers the respond a choice between

only two alternatives.

Multiple-choice questioner

A multiple-choice questioner refers to one which provides several set alternatives

for its answer. It is a middle ground between free answer and dichotomous questions.

The choice provided to the customer will be more than two in numbers.

Rating sale

A rating scale is a technique of attitude measurement. A rating scale may ask the

respondent to rate a particular object along specific dimensions. In the marketing place ithas a heavy emphasis on the measurement of the primary attitudes. The Primary attitude

of different groups can be measured. Here the primary attitude of different groups can

be measured.

5.5. TOOLS USED FOR ANALYSIS

There must be an attempt to organize and summarize data in order to increase

results usefulness in such a manner that enables to relate critical points with study

objectives.

This organizing and summarizing data requires the use of summary statistical

measures such as percentage, average and dispersions. Since the research study has the

collected marketing data through the use of sample the reliability of these summary

estimates is required to be determined. The following are the tools that has been used to

analysis the data.

5.5.1 K - S Test

The Kolmogrov Smirnov Test (KS - Test) tries to determine if two data sets

significantly. The KS - test has the advantage of making no assumption about the

distribution of, data. (Technically speaking it is nonparametric and distribution free).

It is a goodness of fit used to examine the distribution function of the random

variable (X).


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Test statistics T = Sup I F (x) - S (x) ~

= Supremum of the absolute value of the difference

between F (x) and S (X)

Hois rejected if T exceeds the 1 - a quantile (W1 - a) of the Kolmogrov Smirnov's

Statistic.

5.5.2 SPEARMAN'S RANK CORRELATION

The rank correlation co - efficient is a measure of correlation that exists between

two sets or ranks. Spearman's Rank Correlation Co - efficient is calculated as follows:

r=1-6Sdi2

n (n2 1)

where n is number of packed observation d is the difference between one paired

observation.

The value of Spearman's Rank Correlation will always lie between -1 and +1. If

the coefficient is Ho the ranks given by two sets of judges show perfect positive

correlation. If it is -1, the ranks given by two sets of judges have a perfect negative

correlation between them.

5.5.3 CHI - SQUARE TEST

Chi - Square is an importance non - parametric test and as such no test are

necessary in respect of the type of population. We require only the degree of freedom

(implicity of course the size of the sample) for using this test. As a non - parametric test,

Chi - square can be used (i) as a test of goodness of fit and (ii) as a test of independence.

Since the researcher used test of independence only the details about test of

independence is given below.

TEST OF INDEPENDENCE

test enables us to explain whether or not two attributes are associated

attributes are associated. In order that we may apply the chi-square test either as test to

judge the significance of association between attributes, it is necessary that the observed


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aswellas theoretical or expected frequencies must be grouped in the same way and

theoretical distribution must be adjusted to give the same total frequency as we find in

case of observed distribution.

Karl Pearson developed a test for testing the significance of discrepancy between

experimental values and the theoretical values obtained under some theory or hypothesis.

This test is known as 2test of goodness of fit. Karl Pearson proved that the statistic

2=(O-E)2/E

O - Observed Frequency

E - Expected Frequency

2 is used to test whether difference between observed & expected frequencies are

frequent.

To find 2 table value degree of freedom should be calculated. Degree of

freedom is calculated using the formula (r - 1) (c - 1). The table value for this degree of

freedom is seen using 5% or 1% of significant level. If 2table value is greater than 2

calculated value, Null Hypothesis is accepted or Null Hypothesis is rejected.

CHAPTER-6

COMPANY PROFILE

Way 2 wealth previously known as Sivan securities, is a

premiere investment consultancy firm Sivan securities

started in 1984, has a long illustrious track record of being

amongst the premier financial intermediaries in the country

as well as an incubator for IT-start up firms.

The venture capital division came to be known as Global Technology ventures and the

financial intermediary division was spun of as way 2 wealth in the year 2000.

Way 2 wealth was promoted by Sivan securities and global technology ventures ltd.

Prudential ICICI AMC provides further strength to way2wealth as strategic equity

partner.


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Over the years, Sivan has developed a strong reputation for navigating its investors

through all the ups and downs in the market. Way 2 wealth has inherited these same in

addition to a base of 75000 customers over 300 corporate/institutional clients.

Other companies in the group include amalgamated bean coffee trading company ltd and

caf coffee day, a chain of youth hangout coffee parlors

Way 2 wealth is a premier investment consultancy firm that has been launched to with

the aim of making investing simpler, more understandable and profitable to the

investors. Way 2 wealth brings a wide range of product offerings from fixed income

securities, life insurance and mutual funds to equity and derivatives for the convenience

and benefits of its customers. Way 2 wealth has over 40 easily accessible investment

outlets spread across 20 major towns and cities in the country.

Way2wealth brokers Pvt ltd is an associate group company of way 2 wealth securities Pvt

ltd. It is a trading and clearing member of NATIONAL STOCK EXCHANGE OF

INDIA LTD for cash and debt segment and a trading member for derivatives segment

and also a trading and clearing member of BGSE financial ltd. Bangalore is a clearing

member of stock Holding Corporation of India ltd for derivatives clearing operations. It

has 49 equity terminals and 36 derivatives terminals across 49 branches in India.

Way2wealth brokers have commenced its equity trading and clearing operations in April

2001. It has since completed more than 550 settlements without delays or disruptions. It

has started derivatives trading in June 2001

Its banker is HDFC Bank ltd for all equity, derivatives and debit market segments.

Depository participant is with ING Vysya for NSDL pool account and stock Holding

Corporation for CSDL pool account

MISSION:

Way2Wealth is a premier Investment Consultancy Firm, launched with the mission to

be the pre-eminent destination for personalized financial solutions helping individuals

creates wealth.

PHILOSOPHY:


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We believe that our knowledge combined with our investors trust and involvement will

lead to the growth of wealth and make it an exciting experience.

PRODUCT PROFILE:

Mutual Funds.

Insurance.

Equity and Derivatives.

Bonds.

Fixed Income Investments and

Portfolio management Services.

NETWORK

Headquartered in Bangalore, Way2Wealth has six regional offices located in West, North,

Andhra Pradesh, Tamil Nadu, Kerala and Karnataka. Additionally the company has a

network of 50 Investment outlets with the state of the art infrastructure to cater to the

needs of retail investors. These outlets are spread across more than 20 major towns and

cities in the country.

HERITAGE:

Sivan Securities started in 1984, has a long and illustrious track record of beingamongst the premier Financial Intermediaries in the country as well as being an

incubator for IT start-up firms.

Mr.V.G.Siddhartha, the Chairman of the company is the visionary behind

Way2Wealth Securities Pvt Ltd.

The Venture Capital division came to be known as Global Technology Ventures

and the Financial Intermediary Division was spun off as Way2Wealth in the year

2000.

Way2Wealth is promoted by Sivan Securities and Global Technology Ventures

Ltd. Prudential ICICI AMC provides further strength to Way2Wealth as strategic

equity partner.


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Sivan has developed a strong reputation for navigating its investors through all

the ups and downs in the market. Way2Wealth has inherited these same values in

addition to a base of 75,000 individual customers, over 300

corporate/institutional clients.

Other companies in the group include: -

Amalgamated Bean Coffee Trading Company Ltd (one of the largest Coffee

Exporters in India with over 250 outlets.) and

Caf Coffee Day, a chain of youth hangout coffee parlors.

Way2Wealth has a very credible management team, who has well over 100 man-

years of experience amongst themselves.

Activities of the company

All customers receive individual attention. They provide

investment solutions based investors needs.

Holistic Investment planning: -Mutual funds, Life

Insurance, Fixed Income generating, debt instruments

Equity and Derivatives.

They do not have any products of their own and customers benefit from unbiased and

research-backed advice.

They take care of all customers paper work and provide service at their doorstep.

Customers with a minimum investment amount as low as Rs. 2500 per month can avail

of their services.

Life cycle investment planning- buying a home, education, childrens marriage, vocations,

retirement planning etc.

This unique Way2Wealth concept can be easily experienced through the innovative and

customer friendly network of Investment outlets that spans 20 major towns and cities in

the country.

BACKGROUND:


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Way2Wealth is in the financial services industry, where holistic knowledge is at a

premium, change is constant and inevitable, and the speed of response determines

creation of wealth. Individuals who are dynamic and result oriented find their own niche

in this environment. The growing crop of professionals in this industry mandates the

new entrants to have a pleasing personality, excellent communication skills and a

willingness to do good to the customers. Most importantly the individuals should possess

a natural flair for understanding and selling financial products.

Amidst this backdrop Way2Wealth is at the forefront redefining, pioneering and setting

benchmark for the way financial intermediaries should function in the future. Their aim

is to bring investment services to the doorstep of the consumer and be an integral part of

their life cycle.

PRODUCT PROFILE

6.2.1 Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric

products that meet the needs of customers at every life stage. Its 17 products can be

enhanced with up to 6 riders, to create a customized solution for each policyholder.

6.2.2 Savings Solutions:

- Secure Plus is a transparent and feature-packed savings plan that offers 3 levels of

protection.

- Cash Plus is a transparent, feature-packed savings plan that offers 3 levels of

protection as well as liquidity options.

- Save n Protect is a traditional endowment savings plan that offers life protection

along with adequate returns.

- Cash Bank is an anticipated endowment policy ideal for meeting milestone

expenses like a child's marriage, expenses for a child's higher education or

purchase of an asset.

6.2.3 Protection Solutions


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Lifeguard is a protection plan, which offers life cover at very low cost It is

available in 3 options - level term assurance, level term assurance with return of premium

and single premium.

6.2.4 Child Solutions

Smart Kid child plans provide guaranteed educational benefits to a child along

with life insurance cover for the parent who purchases the policy. The policy is designed

to provide money at important milestones in the child's life Smart Kid child plan are also

available with in unit-linked form - both single premium and regular premium.

6.2.5 Market-linked Solutions

- Life Link is a single premium Market Linked Insurance Plan which combines life

insurance cover with the opportunity to stay invested in the stock market.

- Lifetime offers customers the flexibility and control to customize the policy to

meet the changing needs at different life stages It offers 3 investment options -

Growth Plan. Income Plan and Balanced Plan.

6.2.6 Retirement Solutions

- Forever Life is a retirement product targeted at individuals in their thirties.

- Secure Plus Pension is a flexible pension plan that allows one to select between 3

levels of cover.

6.2.7 Market-linked retirement products:

- Lifetime Pension is a regular premium market-linked pension plan.

- Life Link Pension is a single premium market-linked pension plan.

ICICI Prudential also launched "Salaam Zindagi", a social sector group insurance policy

targeted at the economically underprivileged sections of the society.

6.2.8 Group Insurance Solutions:


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ICICI Prudential also offers Group Insurance Solutions for companies seeking to

enhance benefits to their employees.

Group Gratuity Plan : ICICI Pru's group gratuity plan helps employers fund

their statutory gratuity obligation in a scientific manner. The plan can also be customized

to structure schemes that can provide benefits beyond the statutory obligations.

Group Superannuation Plan :ICICI Pru offers a flexible defined contribution

superannuation scheme to provide a retirement kitty for each member of the group.

Employees have the option of choosing from various annuity options or opting for a

partial commutation of the annuity at the time of retirement.

Group Term Plan : ICICI Pru's flexible group term solution helps provide

affordable cover to members of a group. The cover could be uniform or based on

designation/rank or a multiple of salary. The benefit under the policy is paid to the

beneficiary nominated by the member on his/her death.

6.2.9 Flexible Rider Options

ICICI Pru Life offers flexible riders, which can be added to the basic policy at a

marginal cost, depending on the specific needs of the customer.

1. Accident & disability benefit : If death occurs as the result of an accident

during the term of the policy, the beneficiary receives an additional amount equal to the

sum assured under the policy. If the death occurs while traveling in an authorized mass

transport vehicle, the beneficiary will be entitled to twice the sum assured as additional

benefit.

2. Accident benefit :This rider option pays the sum assured under the rider on

death due to accident.

3. Critical Illness Benefit :Protects the insured against financial loss in the event

of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses

prior to death.


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4. Major Surgical Assistance Benefit :provides financial support in the event of

medical emergencies, ensuring that benefits are payable to the life assured for medical

expenses incurred for surgical procedures. Cover is offered against 43 different surgical

procedures.

5. Income Benefit : This rider pays the 10% of the sum assured to the nominee

every year, till maturity, in the event of the death of the life assured. It is available on

Smart Kid, Secure Plus and Cash Plus.

6. Waiver of Premium : In case of total and permanent disability due to an

accident, the premiums are waived till maturity. This rider is available with Secure Plus

and Cash Plus.

6.2.10 Protection Plan

We all hope to live a full life till a ripe old age... to ensure our children's

sustenance and healthy growth. But what if a sudden disability or illness strikes? Besides

the grief and the pain, such an event also completely disrupts life for all the people who

are financially dependent on us. Our life insurance policies offer a comprehensive range

of protection benefits:

Lifeguard - A low cost-high protection plan that offers protection over a

specified period.

Riders -Additional benefits that one can add on to the policy. The rider can

be opted for at the time of taking the basic policy. Additional premium is charged for

each rider.

An insurance policy can be tailor made to provide protection to you and your loved ones.

If something were to happen to you, it can help :

Safeguard Your Better Half: ensure life's continuity for your loved one.

Dear and Near Ones: ensure continuity of lifestyle for your dependents. Attain Greater Heights: ensure your children's education continues

undisrupted.

Unforeseen circumstances: bear the cost of fighting an illness,

disability, etc.


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6.2.11 Child plan

As a responsible parent, you will always ensure a hassle-free, successful life for

your child. However, life is full of uncertainties and even the best laid plans can go

wrong. Here's how you can give your child a 100% safe and assured tomorrow, whatever

the uncertainties. Smart Kid Child Plans are designed to provide flexibility and to

safeguard your child's future education and lifestyle, taking all possibilities into account.

CHAPTER-7

ANALYSIS & INTERPRETATION

TABLE 3.1

GENDER CLASSIFICATION

Gender No. of respondents %

Male 88 58.67

Female 62 41.33

Total 150 100

Inference

58.67% of the respondents surveyed are male.


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FIGURE 3.1



59%

41%

Male

Female


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TABLE 3. 2

AGE OF THE RESPONDENT

AGE No of respondents %

20-30 22 14.67

30-40 47 31.33

Above 40 81 54

Inference

Majority of the respondents (54%) are in the age group above 40, around 31 % of

the respondents are in the age group 30-40, and 15% are in the age group 20-30.

FIGURE 3. 2

AGE OF THE RESPONDENT


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0

10

20

30

40

50

60

20 - 30 30 - 40 Above 40

No Of Respondent

TABLE 3.3

INCOME OF THE RESPONDENT

Income (Rs.) No of respondents %

< 50000 8 5.33

150000-100000 38 25.33

100000-500000 97 64.67

> 500000 7 4.67

Total 150 100

Inference

Majority of the respondents (around 65%) are in the income group of Rs.100000-

500000, around 25% have an income level of Rs.50000-100000, and around 5% of the

respondents have an income below Rs.50000 and above Rs.500000 respectively.


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FIGURE 3.3

INCOME OF THE RESPONDENT

0

10

20

30

40

50

60

70

80

90

100

5,00,000

No Of Respondent

TABLE 3.4

RANKING IN ORDER OF PREFERENCE TO THE VARIOUS SAVINGS

SCHEMES

NO. OF RESPONDENTSFactors

1 2 3 4 5 6

FIXED DEPOSIT 80 28 10 13 9 10

POST OFFICE 9 22 82 10 18 9

MUTUAL FUNDS 21 73 11 19 15 11

INSURANCE 16 8 13 76 30 7

REAL ESTATE 10 15 5 8 72 40

SHARES 14 4 29 24 6 73


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Inference:

From the table it is seen that the ranking in order of the preference to the various

schemes are give below:

FACTORS RANK

FIXED DEPOSIT I

MUTUAL FUNDS II

POST OFFICE III

INSURANCE IV

REAL ESTATE V

SHARES VI

TABLE 3.5

INVESTMENT IN INSURANCE

RESPONSE No of respondents %

Yes 138 92

No 12 8

Total 150 100

Inference

92% of the respondents surveyed have invested in Insurance.


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FIGURE 3.4

INVESTMENT IN INSURANCE

YES

NO

TABLE 3.6

TYPE OF INSURANCE

TYPE No of respondents %

Term 33 23.91

ULIP 18 13.04

Endo 52 37.68

Pension 35 25.37

Total 138 100

Inference

Majority of the respondents (38%) have invested in Endo, around 24% in Term, 25% in

Pension and 13% in ULIP.


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FIGURE 3.5

TYPE OF INSURANCE

0

10

20

30

40

50

60

Term ULIP Endo Pension

no of respodent

TABLE 3.7

FACTORS INFLUENCING PURCHASE OF INSURANCE

Factors No of respondents %

Risk cover 62 44.93

Investment 38 27.54

Tax saving 31 22.46

Others 7 5.07

Total 138 100


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Inference

Majority of the respondents, around 45%, purchase insurance because of risk

cover, around 28% purchase insurance as investment, around 22% for tax saving and 5%

for other reasons.

FIGURE 3.6

FACTORS INFLUENCING PURCHASE OF INSURANCE

0

20

40

60

Risk cover Tax saving Others

%

Investment


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TABLE 3.8

EXPECTATIONS FROM AN INVESTMENT

OPTIONS No of respondents %

Returns 69 22.77

Liquidity 54 17.82

Tax benefits 67 22.11

Transparency 15 4.95

Risk cover 98 32.35

Total 303 100

Interpretation

Majority. of the respondents look for Risk cover, Return and Tax benefits from

an investments, followed by Liquidity and Transparency.

FIGURE 3.7

EXPECTATIONS FROM AN INVESTMENT


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0

5

10

15

20

25

30

35

Returns Liquidity Tax benefits Transparency Risk cover

%

TABLE 3.9

WHETHER THERE IS A SINGLE PRODUCT TO SATISFY ALL THE

EXPECTATIONS

Response No of respondents %

Yes 88 63.77

No 50 36.23

Total 138 100

Interpretation

Around 64% of the respondents think that there is a product that would satisfy

all the expectations.


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FIGURE 3.8

WHETHER THERE IS A SINGLE PRODUCT TO SATISFY ALL THE

EXPECTATIONS

Whether there is a single product to satisfy all the expectations

64%

36%

YesNo

TABLE 3.10

TABLE SHOWING WHETHER UNIT LINKED INSURANCE PRODUCT

SATISFY ALL THE EXPECTATIONS


Yes 59 67.05

No 29 32.95

Total 88 100

Interpretation


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Majority of the respondents (67%) think that Unit Linked Insurance Product

satisfies all that is expected from an investment.

FIGURE 3.9

TABLE SHOWING WHETHER UNIT LINKED INSURANCE PRODUCT

SATISFY ALL THE EXPECTATIONS

Yes

67%

No

33%

Yes

No


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TABLE 3.11

AWARENESS OF ULIP

MEDIA No of respondents %

Television 21 15.22

Radio 15 10.87

,Newspaper 48 34.78

Magazines 28 20.29

Hoardings 17 12.32

Others 9 6.52

Total 138 100

Interpretation

Majority of the respondents, around 35%, are aware of ULIP through

Newspaper, around 20% through magazines, around 15% through television, around

12% through hoardings, around 11% through Radio and around 7% through other

medium.

FIGURE 3.10

AWARENESS OF ULIP


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37

0

10

20

30

40

Television Radio ,Newspaper Magazines Hoardings Others

%

TABLE 3.12

LEVEL OF SATISFACTION WITH REFERENCE TO ULIP


Highly satisfied 37 27

Satisfied 57 41

Neutral 23 17

Dissatisfied 14 10

Highly dissatisfied 7 5

Total 138 100

Inference

Majority of the respondents (41%) are satisfied with ULIP, 27% are highly

satisfied. Around 10% of the respondents are dissatisfied and 5% are highly dissatisfied.

Around 17% of the respondents are neither satisfied nor dissatisfied.


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FIGURE 3.11

LEVEL OF SATISFACTION WITH REFERENCE TO ULIP

%

27%

41%

17%

10% 5%Highly satisfied

Satisfied

Neutral

Dissatisfied

Highly dissatisfied


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TABLE 3.13

COMPANIES OFFERING ULIP

COMPANIES No of respondents %

LIC 85 45.21

ICICI Prudential 38 20.21

Birla Sunlife 16 8.51

AMP Sanmar 14 7.45

HDFC Standard 31 16.49Others 4 2.12

Total 188 100

Inference

Around 45% of the respondents are aware that LIC offers this product, followed

by ICICI prudential (20.21%), HDFC Standard (16.49%), Birla Sunlife (8.51%), AMP

Sanmar (7.45%) and others (2.12%).

FIGURE 3.12

COMPANIES OFFERING ULIP


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40

0 10 20 30 40 50

LIC

ICICI Prudential

Birla Sunlife

AMP Sanmar

HDFC Standard

Others

Percentage


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TABLE 3.14

WHETHER INVESTED IN ULIP


Yes 59 42.75

No 79 57.25

Total 138 100

Inference

Around 43% of the respondents who have invested in insurance have invested in

ULIP.

FIGURE 3.13

WHETHER INVESTED IN ULIP

Yes

43%

No

57%

Yes

No


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TABLE 3.15

LEVEL OF SATISFACTION WITH RESPECT TO SERVICE PROVIDED


Excellent 8 13.56

Good 31 52.54

~Moderate 18 30.51

Poor 2 3.39

Very poor 1 1.69

Total 59 100

INFERENCE

Majority of the respondents (52.24%) rate the service provided as good, some

have rated the service provided as Moderate (30.51%), while 13.56% have rated it as

excellent. Only 3.39% and 1.69% have rated the service provided as poor & very poor

respectively.

FIGURE 3.14

LEVEL OF SATISFACTION WITH RESPECT TO SERVICE PROVIDED


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43

0

10

20

30

40

50

60

Excellent Good ~Moderate Poor Very poor

%

STATISTICAL ANALYSIS

i. KOLMOGROV SMIRNOV TEST

TO FIND OUT THE DISTRIBUTION OF RESPONDENT'S RATING

PATTERN ABOUT CUSTOMER RELATIONSHIP

Ho: Response Pattern obtained is uniformly distributed

Hj: Response Pattern is not uniformly distributed

Test of Uniform Distribution

OPINION F(x)CumulativePercentage

NullHypothesis

s(x)

CumulativePercentage

DifferenceF(x) - S(x)

EXCELLENT 0.13 0.13 1/5 0.20 -0.07

GOOD 0.52 0.65 2/5 0.40 0.25

MODERATE 0.31 0.96 3/5 0.60 0.36

POOR 0.03 0.99 4 / 5 0.80 0.19

VERY POOR 0.01 1 5/5 1 -

Calculated Value is:


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T (F (x) - S (x)) = 0.36

Tabulated Value is:

T (tab)= 1.22 / ~n for 5 % significance level.

When n = 5,

T (tab)= 0.5456

Calculated value is less than tabulated value. Ho is accepted.

INFERENCE:

Response pattern obtained is uniformly distributed.

SPEARMAN'S RANK CORRELATION

NULL HYPOTHESIS Ho : There is no correlation between the ranking of fixed

deposit and Mutual Fund among respondents i.e., r = 0

H1 : There is correlation between the ranking of Fixed deposit and Mutual Fund among

respondent's i.e., r > 0

S.NO RANK (X) RANK (Y)RANK

DIFFERENCE

DIFFERENCESQUARE di2

1 1 2 -1 1

2 1 2 -1 1

3 1 2 -1 1

4 1 2 -1 1

5 1 2 -1 1

6 1 2 -1 1

7 4 1 3 9

8 1 2 -1 1


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9 1 4 -3 9

10 4 1 3 9

11 1 2 -1 1

12 1 2 -1 1

13 1 4 -3 9

14 1 2 -1 1

15 1 2 -1 1

16 1 2 -1 1

17 2 1 1 1

18 1 2 -1 1

19 1 2 -1 1

20 1 2 -1 1

21 1 2 -1 1

22 1 2 -1 1

23 1 2 -1 1

24 1 3 -2 4

25 2 1 1 1

S d i2 = 60


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46

X = FIXED DEPOSIT Y = MUTUAL FUND

Spearman's r = 1 - 6 S d i2

n (n2- 1)

= 1-6x60

25(25 2- 1)

= 1 - 0.023

= 0.977

srtabulated s, (t), n = 25 at 5% level of significance

srcalculated s, (c) = 1 = 1 = 0.20

vn-1 v25-1

Upper limit (Ul) = , + sr(t) x sr(c)

=0+0.3977x0.20 =0.08

INFERENCE:

Since the `r' value = 0.977 it lies in the rejection region therefore we reject the

null hypothesis at 5% level of significance and we accept the alternate hypothesis. Hence,

we conclude that there is positive correlation between the ranking of Fixed deposit and

Mutual fund among the respondents.

ii. CHI - SQUARE TEST

To determine whether there is significant difference between age wise & whether

invested in insurance

H : There is no significant difference between age wise & whether invested in insurance

H1

: There is significant difference between age wise & whether invested in insurance

AGE WISE NO OF RESPONDENTS

CHOICE TOTAL

YES NO


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21 30 16 6 22

31 40 43 4 47

> 40 79 2 81

TOTAL 138 12 150

Expected Frequencies are:

(138 * 22) / 150 = 20.24 ( 12 * 22 / 150 = 1.76

(138 * 47) / 150 = 43.24 (12 * 47) / 150 = 3.76

(138-* 81) / 150 = 74.52 (12 * 81) / 150 = 6.48

Calculation of 2:

ObservedFrequency

Expected Frequency(E)

(O _ E)2 (O - E)2/ E

16 20.24 17.98 0.89

6 1.76 17.98 1.21

43 43.24 0.06 0.001

4 3.76 0.06 0.02

71 74.52 12.39 0.17

2 6.48 20.07 I 3.09

5.38

Calculated 2= (0- E)2 / E

O - Observed Frequency

E - Expected Frequency

= 5.38

Calculated 2= 5.38

Degree of Freedom = (3 - 1)(2 - 1)

= 2 d.f at 5 % level of significance

Therefore, Tabulated2= 5.991


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Since Calculated 2< Tabulated 2

Therefore, we accept the hypothesis.

i.e.. There is no significant difference between age wise & whether invested in insurance

CHAPTER-8

FINDINGS OF THE STUDY

58.67% of the respondents surveyed are male (Table-1).

Majority of the respondents (54%) are in the age group above 40, around 31% of

the respondents are in the age group 30-40, and 15% are in the age group 20-30

(Table-2).

Majority of the respondents (around 65%) are in the income group of Rs.100000-

500000, around 25% have an income level of Rs.50000-100000, and around 5%

of the respondents have an income below Rs.50000 and above Rs.500000

respectively (Table-3).

It is seen that the ranking in order of the preference to the various schemes are

give below: (Table-4)

FACTORS RANK

FIXED DEPOSIT I

MUTUAL FUNDS II

POST OFFICE III

INSURANCE IV

REAL ESTATE V

SHARES VI

92% of the respondents surveyed have invested in Insurance. (Table-5).


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Majority of the respondents (38%) have invested in Endo, around 24% in Term,

25% in Pension and 13% in ULIP(Table-6).

Majority of the respondents, around 45%, purchase insurance because of risk

cover, around 28% purchase insurance as investment, around 22% for tax saving

and 5% for other reasons. (Tab le-7).

Majority of the respondents look for Risk cover, Return and Tax benefits from

an investments, followed by Liquidity and Transparency(Table-8). Around 64%

of the respondents think that there is a product that would satisfy all the

expectations (Table-9).

Majority of the respondents (67%) think that Unit Linked Insurance Product

satisfies all that is expected from an investment (Table-10).

Majority of the respondents, around 35%, are aware of ULIP through

Newspaper, around 20% through magazines, around 15% through television,

around 12% through hoardings, around 11 % through Radio and around 7%

through other medium .(Table-11).

Majority of the respondents (41%) are satisfied with ULIP, 27% are highly

satisfied. Around 10% of the respondents are dissatisfied and 5% are highly

dissatisfied. Around 17% of the respondents are neither satisfied nor dissatisfied

(Table-12).

Around 45% of the respondents are aware that LIC offers this product, followed

by ICICI prudential (20.21%), HDFC Standard (16.49%), Birla Sunlife (8.51 %),

AMP Sanmar(7.45%) and others (2.12%)(Table-13).

Around 43% of the respondents who have invested in insurance have invested inULIP (Table-14).


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CHAPTER- 9

SUGGESTIONS

A portion can be given as a guaranteed return to the customer so that a trust can

be developed in customers mind.

Constant update on NAV can be given to the customers and also help them in

switching between funds.

Special training can be given to the employees in handling the HIGH

NETWORK INDIVIDUALS (HNI'S).

The lock in period can also be reduced, which will help the customer in heaving a

higher flexibility and higher liquidity.

CHAPTER- 10

APPENDIX

QUESTIONNAIRE

1) Name :

2) Gender : 6 M 6F

3) Age :

6>20 620-30 630-40 6Above 40

4) Income per Annum : 6>50,000 650,000-1,00,000

61,00,000 - 5,00,000 6


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6Insurance 6Real Estate 6Shares

6) Do you think Insurance as an Investment or just an risk cover

7) Have you invested in insurance

6Yes 6No

If yes what type of Insurance ?

6Term 6Endo

6ULIP 6Pension

8) What factors influence you to buy Insurance ?

6Risk cover 6Investment

6Tax Saving 6Others

9) What are the things that you expect from an Investment ?

6Returns 6Liquidity 6Tax benefits

6Transparency 6Risk cover

10) Do you think there could be a single product that satisfies all the above

factors ?

6Yes 6No

If yes, is it a Unit Linked Insurance product ? 6Yes 6No

If No. what else ?

11) Through which media you are aware of Unit Linked Insurance Products.

6Television 6Radio 6 News paper

6Magazines 6Hoardings 6Any other please specify

12) Kindly encircle your level of satisfaction with reference to the Unit Linked

Insurance Product

Highly Satisfied Highly Dissatisfied


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5 4 3 2 1

13) Which are the companies you think offer this product ?

6LIC

6ICICI

6Prudential

6Birla Sunlife

6AMP Senmar

6HDFC Standard

6Others .14) Have you invested in this Unit Linked Insurance Product ?

6Yes 6No

If ves, which are the companies you have invested in

15) Your level of satisfaction with the service provided by that company ?

Excellent Very poor

5 4 3 2 1

16) What you think that can be done to create more awareness about these

products ?

.

.

.


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CHAPTER-11

BIBLIOGRAPHY

1. Barry Berman, Joel R.Evans ` Retail Management-A Strategic ApproachFourth

Edition- 1989, MacMillan Publishers, London.

2. Beri G.C., ` Marketing research'- Second Edition - Tata McGraw - Hill

Publishing Company Ltd., New Delhi.

3. DR.D.D.Sharma`Marketing research Principles, Applications and Cases'Second

Edition -1999 Dec., Prentice Hall of India Private Ltd., New Delhi-1.

4. Goel. B.S., Marketing Research. Meerut K.K.Mittal publishers , 1996.

5. Gupta. S.P, Statistical Methods , New Delhi , Sultan Chand & Sons Publishers .

1998.

6. Hall Publications . second edition 1998.

7. Kothari .C.R, Research Methodology , New Delhi , Vishva Prakashan

Publications, Second Edition , Reprint Edition 2000.

8.

Paul E Green Donald S Dull, Research for Marketing Decisions, New Delhi.

9. Philip kotler Gary Armstrong, Principle of Marketing, New Delhi , Printice - Hall

Publications , Second Edition 1998.

10. Saravanavel P Research Methodology, Allahabad, Kitab Mahal

Publishers, 2001.

Documents

unit linked insurance plan -2833