priyanka khare paert 1 relic main conver karna hai 1-2
TRANSCRIPT
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
INTRODUCTION
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of
the Reliance – Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s
leading private sector financial services companies and ran!s among the top "
private sector financial services and ban!ing companies in terms of net #orth.
Reliance Capital has interests in asset management and mutual funds stoc!
bro!ing life and general insurance proprietary investments private e$uity and
other activities in financial services.
Reliance Capital Limited %RCL& is a 'on()an!ing *inancial Company %')*C&
registered #ith the Reserve )an! of India under section +,(IA of the Reserve
)an! of India Act -"+.
Reliance Capital sees immense potential in the rapidly gro#ing financial
services sector in India and aims to become a dominant player in this industry
and offer fully integrated financial services.
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What is insurance
Insurers call this general insurance to differentiate it from life assurance. It is
natural to thin! of insurers of physical assets such as motor car insurance of fire
insurance but often #e forget that creator of all these assets is human being
#hose efforts have gone a long #ay in building up the assets. In that sense
human life is a uni$ue income generating assets. /nli!e the physical assets
#hich decrease in value #ith the passage of time the individual becomes more
e0perienced and more matured as he advanced in age. 1his raise his earning
capacity and the purpose of life insurance is to protect the income of individual
and provide financial security to his family #hich is dependent on his income
in the event of his premature death. 1he individual himself also needs financial
security for the old age or on his becoming permanently disabled #hen his
income #ill stop. Insurance also has an element of saving in certain cases.
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Classification of Insurance
/ncertainty in life is certain filled #ith trials and tribulations in every aspect of
life. 3rediction or estimation of #hat the future has in store for him is not
possible. Insurance is e0pected to aid in partially overcoming these vagaries of
life. Insurance can never replace or repair a loss. )ut the monetary value offered
by insurance helps in ad4usting to the ne# circumstances. Despite offering
innumerable options and immense scope insurance can be classified into four
main categories.
Insurance of 3erson
Insurance of 3roperty
Insurance of Interest
Insurance of Liability
Insurance of Person:
1he ris! associated #ith human life and health resulting from unplanned
contingencies could be covered under insurance up to the limit specified. In the
event of his death his dependants #ill be reimbursed to the full amount that he
#as insured for. 5r if the insured person meets #ith an accident or suffers from
an illness that cripples him forever he #ill be compensated #ith the complete
sum assured any#ay since he may not be able to lead a normal life again. In
case the accident is not that severe he should be able to recover after medical
treatment and rehabilitation. If he has opted for medical cover then his medical
e0penses treatment and medication #ill be paid for by his insurance policy.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Insurance of Property:
6very individual #ould be an o#ner of tangible assets in the form of land
6state vehicles share holdings or plain paper money. 1he tangible assets are
associated #ith ris! of fire theft robbery etc. 1he life times’ achievements
mar!ed by these assets could be #ashes off #ithout a trace #ithin fraction of a
second. )ut if a person 4udiciously invests in insurance for his property prior to
any une0pected contingency then he #ill be suitably compensated for his loss as
soon as the e0tent of damage is ascertained.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Insurance of Interest:
6very individual is bound to discharge certain duties maintain a certain
standard of conduct. )ut then it is an intrinsic part of human nature to err. 'o
one is infallible and no one #ill ever be. 1his trait may lead us to commission of
occasional error or omission leading to a loss for our clients or customers. As a
result #e might have to pay them damages or compensation out of our o#n
personal resources. )ut if our chosen profession $ualifies for insurance of
interest then our insurance policy #ill more than suffice in arranging for the
funds and court formalities that might ensue in the aftermath of legal libel.
Insurance of iability:
6very person has to regulate his actions and behaviour so as not to cause in4ury
or damage to other people and their property. 6veryone is personallyresponsible and liable for his actions. If due to lac! of control over his actions or
pre4udiced behaviour a person incurs any liability then he has to provide
compensation out of his personal resources. Liabilities7 legal civil or criminal
can have severe repercussions on social standing and prestige besides the
financial status. )y investing in liability insurance an individual can #ard off
any liabilities he might incur due to his actions and behaviour. )esides the
premiums payable on liability insurance are fairly minimal #hen compared to
the damages that have to be compensated in the long run.
ife Insurance ! In"ia
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
ife Insurer in Public *ector
-. Life Insurance Corporation of India
ife Insurers in Pri+ate *ector
-. )a4a4 Allian8 Life
2. ICICI 3rudential Life Insurance
". >D*C ?tandard Life
+. )irla ?unlife
,. ?)I Life Insurance
9. @ota! 5ld :utual Life Insurance
. Aviva Life Insurance
=. Reliance Life Insurance – *ormarly !no#n as A:3 ?anmar LIC
. 1ata AIG Life-
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Funeral – Life Insurance proceeds can ensure that there is enough money for
proper funeral and burial e0penses.
Dept – 3ersonal bills credit card debt student loans and personal notes can be
covered by life insurance in the event of an individual’s death.
Mortgage Protection – 1he proceeds of a life insurance policy can pay off the
balance of a mortgage or provide an income stream to pay monthly mortgage or
rent payments.
Income Replacement – In the event of an individual’s death life insurance
proceeds can provide a supplemental income stream to ensure that the surviving
family members are able to maintain the same standard of living.
Education – Life insurance proceeds can ensure that the education costs of the
insured’s children are covered.
a!es – *ederal estate and state inheritance ta0es can be pre(funded using life
insurance to preserve the value of an estate.
Donations"#ifts – An individual can use a life insurance policy to fund adonation to a charity or leave a gift to a family member.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
,usiness Uses
$ey%person – A life insurance policy can be used to protect a business from the
loss of profits caused by the death of a !ey employee.
&usiness 'ontinuation – Life insurance can be used to fund a buysell
agreement or stoc! redemption plan to enable a partner or group of employees
to buy the business interest of a deceased partner.
&usiness (oans – Life insurance protection on a !ey employee or business
o#ner can be used pay off the debts of a business in the event of that
individual’s death.
Employee &enefits – Life insurance protection for employees is commonly
included in company employee benefits plans.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Nee"s for ife Insurance
1emporary needs threats7 ( 1he original purpose of life Insurance
remains an important element namely providing the replacement of
income on death etc.
Regular saving7 ( 3roviding for one’s family and oneself as a medium to
long term e0ercise. 1his has become more relevant in recent times as
people see! financial independence from their family.
Investment7 ( 3ut simply the building up of saving #hile safeguard it
from ravages products are trationally lump sum investment #here the
individual ma!es a one time payment.
Retirement7 ( provision for one’s o#n later becomes increasingly
necessary especially in a changing cultural social environment one can
buy a suitable policy #hich #ill provide periodical payment in one old
age.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
,-N-.IT* .O$ I.- IN*URANC-
It is ?uperior to a traditional saving vehicle.
It encourages saving and forces thrift.
It provides easy settlement protection against creditors.
It can be encased facilities borro#ing.
1a0 Relief.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
RO- IN*URANC- IN -CONO$IC D-/-OP$-NT
*or economic development investment are necessary. Investments are made
out of saving a life Insurance Company is a ma4or instrument for the
mobili8ation of the saving of people. 1hese investments are channeled into
the investment for economics gro#th. Investments are made in the area li!e.
-. Road transport
2. ?etting up Industrial 6state
". Directly financing Industry
+. investment in corporate sector li!e
,. ?hare
9. Debentures
. 1erm Loan
1hese #ere the areas #hich directly affect the live of the people and their
economic #ell beings.
0-AD O..IC-
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Reliance ife Insurance Company i
Regd. 5ffice7 1he 1rape8ium mited *irst *loor
E" 'elson :anic!am Road Chennai – 9
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
,ranch $ana2er
Reliance Life Insurance Company Limited
'o. -9(- Lo#er Ground *loor 'imrata Comple0 Ad4uscent. ;I:3H G.
1. Road alandhar alandhar 3un4ab – -++
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
PR-$IU$ PA3ING OPTION*
1he life insurance policy o#ner may designate a specific settlement option to be
paid upon his or her death. If the policy o#ner does not choose a specific option
the beneficiary %s& #ill be given a number of choices 1hese usually include7
ump *um Payment: 1he death proceeds of a life insurance policy are paid to
the beneficiary %s& for a fi0ed period.
.i4e" Perio" Payments: 1he death proceeds of a life insurance policy are paid
to the beneficiary %s& for a fi0ed period.
ife Income 5ith Installments Certain: 1he death proceeds of a life insurance
policy are paid to the beneficiary %s& in installment payments through a certain
period. After the certain period payments #ill continue to be made throughout
the beneficiary’s lifetime but the payment may very from the payments during
the certain period.
Interest Payments) 1he death proceeds of a life insurance policy remain #ith the
insurance company and the company pays the beneficiary interest payments.
.i4e" Installments: 1he death proceeds of a life insurance policy are paid tothe beneficiary %s& in fi0ed installments until the proceeds and interest on the
unpaid balance of the proceeds are e0hausted.
*in2le Premium Annuity: 1he death proceeds of a life insurance policy are
used to purchase a single premium annuity from the insurance company.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
PRODUCT* O. R-IANC- I.- IN*URACN-
In"i+i"ual Plans
Reliance 6ndo#ment 3lan
Reliance ?pecial 6ndo#ment 3lan
Reliance Cash *lo# 3lan
Reliance Child 3lan
Reliance 1erm 3lan
Reliance ;hole Life 3lan
Reliance :ar!et Return 3lan
Reliance Golden Hears 3lan
-mployee ,enefit Plans
Reliance Group 1erm Assurance 3olicy
Reliance 6DLI ?cheme
Reliance Group Gratuity 3olicy
Reliance Group ?uperannuation 3olicy
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Reliance -n"o5ment Plan
Reliance Life Insurance’s Reliance 6ndo#ment 3lan is the !ey to all the
financial needs. It is an ine0pensive and easy #ay to protect you your family or
your business.
In a nutshell this plan #ill !eep you financially prepared for all the special
occasions in you life – your daughter’s #edding your child’s university
education or even a ne# office for your business – by eliminating the burden
that a shortage of money creates.
In the event of your untimely death Reliance 6ndo#ment plan #ill also assist
your loved ones through this difficult time by the financial support that it
provides.
Reliance 6ndo#ment 3lan also gives you the additional benefit of participating
in the company’s profits #hich you #ill receive at the end of the policy period.
*pecialty of Reliance -n"o5ment Plan
Reliance 6ndo#ment 3lan is an endo#ment plan #here you decide ho# much
you #ould li!e to set as your sum assured based on your current financial
position and your e0pected future e0penses. Hou also get to choose ho# long
you #ould li!e your policy to operate. 1hen all you need to do is pay your
single premium or regular premium for the policy term.
Hou may choose to pay your regular premiums yearly half(yearly $uarterly or
monthly for the policy term.
Wor6in2 of Reliance -n"o5ment Plan
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
As soon as you pay your single premium or as long as you continue to pay your
regular premiums your policy #ill participate in the profits of our company.
1his means that each year #e #ill declare a bonus the amount of #hich may
very from one year to the ne0t. 1he cash value of the bonuses #hich you
accumulate over the policy term #ill be paid to you along #ith the basic sum
assured #hen it falls due.
-li2ibility
Any healthy male or female #ho has completed the age of , years and is not
older than 9, years can avail of this policy.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Premium rebates for hi2h sum assure
3remium rebate is allo#ed on high sum assured policy
?um Assured 3remium Rebate per
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
and is available only on policies #ith a basic sum assured of at least Rs.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
Cancer
Coronary artery by(pass graft surgery
>eart attac!
Aorta surgery
>eart valve replacement
@idney failure
?tro!e
:a4or organ transplant
Coma
Reliance *pecial -n"o5ment Plan
1his insurance policy is designed for people #ho #ish to combine savings #ith
e0tended security. 1he uni$ue feature of this policy is that life protection
continues for five years after you have stopped the payment of premium.
3ayment of sum assured at the end of period paying term and e0tension of life
cover thereafter for the full sum assured for a period of , years are
characteristics of the policy.
1his plan also participates in the profits.
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
*pecial about this policy
1he special benefit under this policy is that it ensures securing a fund for the
future #hen it is most needed and gives much needed financial security for the
family.
1he uni$ue feature of this policy is that the ris! cover continues for the full sum
assured for an e0tended period of , years even after payment of the full sum
assured at the end of the premium paying term.
1his policy also participates in the profits. )onus is compounded yearly %i.e.
bonus declared in the previous year earns bonus in the ne0t year& and is payable
at the end of the policy term.
imitin2 Con"itions
1he minimum amount for #hich a Reliance ?pecial 6ndo#ment 3lan policy can
be ta!en is Rs. 2,
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
If death ta!es place during the term #hen the premiums are still being paid the
full sum assured along #ith accrued bonus up to the date of death #ill be paid
immediately.
If death ta!es place after all the premiums have been paid an amount e$ual to
the sum assured under the policy along #ith accrued bonuses up to the date of
death #ill be paid immediately. 1his #ill be in addition to the sum assured
already paid at the time of completion of premium paying term.
Reliance Cash .lo5 Plan
1his insurance policy is designed for those #ho have a recurring need for
reinvestment in business or loo! for short(term investment channels. 1he
advantage of the policy is that they need not part #ith a si8able amount of
money at any one time but create through regular premium payments a periodic return of lump sums #hich become available for reinvestment at higher
returns #hile providing simultaneously substantial life cover.
Alternatively it can be used to meet any immediate financial crisis in the family
li!e your son’s college admission your daughter’s engagement renovation of
your home or perhaps a holiday abroad.
1he money is payable in installments. 1he first installment is paid at the end of
the +th year and thereafter at the end of every " rd year.
*pecial about this policy
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1he special benefit under this policy is that it ensures li$uidity through a
periodical return of a specified amount of money once in every " years. It
averts the necessity to loo! else#here for loan facilities.
A uni$ue feature of this policy is that the ris! cover continues for the full sum
assured even though the periodical payments are being made. 1his policy also
participates in the profits and is eligible for bonus.
-li2ibility for this policy
Any healthy male or female #ho has completed the age of -, and is not older
than 9" can avail of this policy.
imitin2 con"itions
Hes the minimum amount for #hich a Reliance Cash *lo# 3lan policy can beta!en is Rs. 2,
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
*um assure" after payin2 the premiums for the full "uration of the policy
Hou receive the first payment at the end of the +th year and subse$uent payments
at intervals of " years. 1he entire vested bonus is paid along #ith the last
installment on the date of maturity of policy.
Anythin2 more77
Hes there is the usual e0emption from ta0 under section == premiums paid as
per the I1 Act -9-. 1he money you have invested earns interest and comes to
you in the form of terminal benefits and )onus #ithout the insecurities attached
to the ups and do#ns of the money mar!et.
All your policy benefits #hich you receive are e0empt from ta0 under
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
A uni$ue feature of this policy is that the ris! cover continues for the full sum
assured even though the periodical payments are being made. 1his policy also
participates in the profits for the full term of the policy.
-li2ibility for this policy
Any healthy male or female #ith ade$uate income #ho has completed the age
of 2< and is not older than 9
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Reliance Life InsuranceAnil Dhirubhai Ambani Group
b& 1o !no# the Customer a#areness regarding the various life Insurance
Companies in the Insurance ?ector.
c& 1o !no# the Customer preference to#ards the private or public Insurance
?ector. 3eople comes to !no# about Reliance Life Insurance Company
through 3rint :edia.
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R-*-ARC0 $-T0ODOOG3
Intro"uction an" $eanin2
Research is a careful investigation or in$uiry especially through search for ne#
facts in branch of !no#ledge7 mar!et research specifies the information.
Re$uired to address these issues7 designs the method for collecting information7
manage and implements the data collection process analyses the results and
communicates the finding and the implications. Research problem is the one
#hich re$uires a researcher to find out the best solution for the given problem
that is to find out the course of action the action the ob4ectives can be obtained
optimally in the conte0t of a given environment.
Techni8ues
1he problem definition can be said to be the $uite essential part of the research
processJ as it determine precisely. ;hat the managerial problem is and the type
of information that the research can generate to help the problem before
conducting the field#or!. It is better to decide upon the methodtechni$ue of
data collection. Generally there are t#o techni$ue of data collection are7
-. Census 1echni$ue 2. ?ample 1echni$ue or Convenient sampling1he census method is costlier and more time Consuming as Compared to
sampling method but the result is near representatives.
R-*-ARC0 $-T0OD*
Research is literally every#here and !no#ing about research methods #ill help
us understand ho# #e came to !no# #hat #e accept as fact. ;e all !no# that +out of , dentists recommend sugarless gum for their patients #ho che# gum
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and that taste(tests sho# that )urger @ing’s Croissan#ich is preferred 2 to lover
:cDonald’s 6gg :c:uffin. ;e also !no# that proper nutrition is important for
children’s development and that heroin is addictive. 1he $uestion is7 >o# did
#e come to !no# these things K
;e learned about these things through research. ?omeone some#here did a
study and found each of the above findings. ;hile most of us accept the value
of good nutrition for children and the dangers of heroin at least some of us
%especially
Certs ?ugarless :int and 6gg :c:uffin fans& #ould $uibble #ith the other t#o
findings. ust ho# did the researchers do the studies that found those numbers
%by the #ay get in the habit of $uestioning ho# researchers find their even
those you agree #ith&K ;ho !no#s maybe they did the Croissan#ich study at
)urger @ing one morning and as!ed people #hich sand#ich they preferred. 1he
fact that the participants had already gone to )urger @ing for brea!fast meant
that they had at least some tolerance for Croisan#iches. ;hat about thedentists K
;hat percentage of them recommendedM candies of any !ind K ;hich dentists
participated in the study and #hat e0actly do they prefer about sugarless gum
over sugarless mints K
;hen #e as! $uestions li!e these #e are $uestioning the methods the
researchers employed in their studies. Research methods are a variety of
techni$ues that people use #hen studying a given phenomenon. 1hey are
planned scientific and value(neutral. ;hat that means is that good research
methods don’t 4ust happen.M Instead they are deliberately employed in a #ay
that is designed to ma0imi8e the accuracy of the results. Assume for e0ample
that you #ant to do a survey to Asses students’ level of satisfaction #ith the
par!ing situation on your campus. )ecause no one #ants to ta!e time to be
intervie#ed you are forced to start intervie#ing the people sitting in their cars
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#aiting for par!ing places. ?ince they’re bored any#ay and have nothing better
to do they agree to ans#er your $uestions. Lo and behold you find that all ,<
people you tal! to are B6RH unhappy about the lac! of par!ing spaces on
campus.
A better #ay for you to do your survey #ould be to randomly select names from
a list of all enrolled students %there #ill be more on random samples in a later
section&. Hou could as! them #hat they thin! about the par!ing situation.
)ecause your sample #as randomly selected you #ould e0pect their ans#ers to
reflect #hat students as a #hole felt about the par!ing situation. 1he use of
random samples is 4ust one #ay that researchers try to ensure that the ans#ers
they find are accurate.
Common errors ma"e in research
;hen #e do research #e can ma!e many errors. ?ome of them occur oftenenough to have names. >ere are nine common ones
• ?elective observation
• Inaccurate observation
*electi+e obser+ation
?elective observation happens #hen our attention is dra#n to ans#ers or
observations that confirm our pre(e0isting beliefs. It’s a lot li!e selective
hearing %i.e. #hen people especially children hear only the things they #ant to
hear&. *or e0ample if I hypothesi8e that blac!s are more li!ely than #hites to
speed I am probably li!ely to not the blan!s #ho are speeding #hile paying
less attention to speeding #hites and blac!s #ho are not speeding. A better approach to this study #ould be to #rite do#n the speed of every car going by
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and the race of the driver. I could then ma!e tables and compare the percentages
of speeding drivers of each race. Chances are that I’ll find that race isn’t related
to one’s li!elihood of speeding. A fe# #ays you can try to avoid selective
observation in your research are to do a literature
Revie# %so you’ll !no# #hich relationship other researchers found& decide
your research approach beforehand %e.g. #hen I decided above to #rite do#n
the speed of every car rather than 4ust depend on my memory& ta!e thorough
notes %to prevent biases from affecting you memory& #atch for disconfirm
1oryM information %such as speeding #hites and non(speeding blac!s& and
consider both sidesM of your study %i.e. try to argue against you hypothesisJ if
you can’t po!e holes in your theory then you’re more li!ely to be on the mar!&.
Hou could also use time or area sampling. 1ime or area sampling means that
you focus your attention on a smaller part of the action for a given amount of
time. Instead of trying to #atch the entire cro#d at a bas!etball game for
e0ample I could loo! at the rightmost four columns of people for ten minutesthen the ne0t four columns for ten minutes and so on. )y doing this I #ould be
able to get a picture of #hat the shole cro#d #as doing. And most importantly
for selective observation I #ould be forced to loo! at all parts of the cro#d at
some point time rather than 4ust those #ho #ere doing #hat I e0pected them to
do.
Inaccurate obser+ation
Inaccurate observation happens #hen #e misrememberM or misreport data.
>o# many times have you missed a $uestion on an e0am because you
incorrectly copied do#n something from lectureK 1hat’s one form of inaccurate
observation. Hou thought you correctly observed the information #hen you
really hadn’t done so. >ave you ever misunderstood #hat someone said and
"-
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thought she said something that rhymed #ith hisher actual utterancesK 1hat’s
another form of inaccurate observation. Hour brain someho# miscoded the
information at the processing stage. Inability to remember #hat you sa# is
another form. Hour brain someho# 4umbles or changes the original memory
during the recall stage. 5bservations before actually doing it for real. 3ractice
#ill ma!e it easier to $uic!ly and accurately record or summari8e a given
situation and #ill sho# you the parts of the tas! about #hich you are less clear.
$etho"olo2y A"opte"
1he methodology adopted by me studding the ob4ectives #as surveying the
#or!ing segment in the city of Distt. @apurthala ?o !eeping in vie# the nature
of re$uirement of study to collect all the relevant information regarding the
privati8ation of the insurance sector direct personal intervie#’ method #ith
structured $uestionnaire method #as found to be the best for the collection of primary data. *or this a set of $uestionnaire #as designed for the #or!ing
segment. 1he survey #as conducted. Although this method #as difficult and
re$uired the researcher to visit and meet the respondents at different places and
at different times but had the advantage of higher accuracy.
?econdary data has been collected through the various maga8ines boo!s and by
surfing on Internet. And the guide in the organi8ation #as consulted at many
times.
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DATA ANA3*I*
@eeping in mind the ob4ectives of the study the survey #as being done and
follo#ing interpretation #ere being dra#n.
9 0a+e you hear" about Pri+ati;ation in ife Insurance *ector <
5b4ective 7( 1o !no# the a#areness of 3rivati8ation in insurance sector this
$uestion is as!ed. As there are a number of private insurance companies #hich
provide a variety of products and services as compared to nationali8ed
insurance companies.
A#areness of 3rivati8ation in Insurance sector
Interpretation
1he evident from above finding sho#ed that out of -
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5b4ective 7( 1o !no# the a#areness of customer regarding. Reliance life
insurance.
+.2 A#areness of Customer Regarding. Reliance life insurance.
Interpretation
1he above figure depicts that out of -
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Ob>ecti+e :? 1o !no# the media #hich helps in promotion of Reliance Life
Insurance. As #e !no# in the present era media plays an important role in
the promotion of companies.
@= Role of $e"ia in the Promotion of Reliance ife Insurance
Interpretation
According to above data 6lectronic :edia plays a vital role in the promotion
of Reliance Life Insurance. As ,9 of the respondents are a#are through
6lectronic :edia 2< through Agents -< through 3rint :edia and -+
through other li!e friends and relatives.
@ Do you thin6 ser+ices pro+i"e" by Pri+ate *ector 5ill be better than
Public *ector companies <
"9
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Ob>ecti+e :? 1o !no# the priority given by customer to the private sector
over public sector. As #e !no# that more and more customers are moving
to#ards private sector because of better facilities and services provided by
private sector.
Priority of Pri+ate sector o+er the public sector
Interpretation
1he above figure depicts that 9= of the total respondents agree that private
sector #as providing better services as compared to the public sector.
Do you ha+e Insurance Policy <
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Ob>ecti+e :? 1o !no#n the number of customers dealing #ith different
insurance companies. As the there are a number of companies providing
different products.
@( No of customers "ealin2 5ith "ifferent insurance companies
Interpretation
1he above evident sho#s that out of the total respondents 92 dealing #ith LIC
#hich is a public sector insurance company -= respondents #ere dealing #ith
ICICI 3ru and >D*C ?td. Life respectively
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Ob>ecti+e :? 1o !no# the motive of buying insurance policy. 1here is al#ays
a reason to buy life insurance policy as it protects the insurer from different
aspects even after death.
Interpretation
As the above figure sho#ed that most of the respondents buy insurance policy
for the purpose of saving ta0 +2 respondents are in favour of this 22
respondents gave preference to secure investment "< and
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Ob>ecti+e :? 1o !no# the customer preference to buy insurance policy in
near future.
@ Preference to buy insurance policy in future
Interpretation
As the above figure depicts that mostly respondents are interested to buy
insurance policy in the future. +< of the total respondents are in favour of
this and rest +2 respondents #ant any insurance.
If you ha+e any plan to buy an Insurance Policy%
Which policy 5oul" you prefect<
+-
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Ob>ecti+e: ? To !no#s the customer preference regarding various insurance
plans provided by the insurance companies.
@ Preference re2ar"in2 +arious insurance plans
Interpretation
As the above evident sho#s that as most as "2 of the total respondents prefer
to invest in endo#ment plan 29 prefer to have child plan 2+ prefer to ?pl.
6ndo#ment 3lan and rest -= cash flo# plan.
9'If you are not ta6in2 any insurance policy% please tell us the reasons
5hy<
+2
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Ob>ecti+e: ? 1o !no# the reasons not to buy any insurance plan by the
respondents.
@9' Reasons not to buy any insurance plan
Interpretation
As the evident sho#s that as most as ", of the total respondents don’t
understand the #or!ing of the insurance system and nearly 2+ of the
respondents don’t see any benefit #ith the system -, and 29 of the
respondents don’t #ant insurance and could not afford respectively.
.INDING* O. T0- *TUD3
+"
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a& Life insurance has becomes generic no#. 3eople believe in Life
Insurance Company only and therefore everybody #ants to go in for a
policy #ith LIC. It #ill ta!e a lot of time to private companies to #in
the confidence of the people.
b& As far as future decision ma!ing about the policy is concerned most of
the policy #ould go in for saving plan.
c& It is a service class #hich has ma0imum number of LIC and private
sector policies. As far as future decision(ma!ing is concerned most of
the service class prefers to protection plan
d& LIC is the oldest player in the Insurance mar!et so people are more
a#are of i.e. as compared to ne# players.
e& 1his clearly comes out of the survey conducted that most of the people
comes to !no# about Reliance life Insurance company through print
media.
f& It has clearly comes out that most of the people li!e to go in for a policy #hich gives them ta0.
I$ITATION* O. *TUD3
All efforts have been made to ma!e study a complete and comprehensive
survey of the customer perception. Although all efforts have been made so that
++
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the study present a true picture of the customers’ perception. 1he limitations of
the study are 7(
-& 1ime *actor 7(
1ime available #as very short.
2& *a!e Information’s 7(
1he information’s provided by the customers may be fa!e for
e0ample customer of Reliance Life Insurance may be sho#n interest
in ICICI 3rudential.
"& Limited ?urvey 7(
As the pro4ect #as limited to Ludhiana only therefore overall picture
can’t be presented.
+& Randomly ?urvey 7(
1he customers of LIC ICICI and R6LIA'C6 LI*6 I'?/RA'C6
#ere randomly selected #ithout any constrains.
,& Area 7( Area of study chosen #as not large.
CONCU*ION
Reliance Life insurance is one of the largest life insurance Companies in the
#orld #ith Insurance and Investment funds e0ceeding Rs. --
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insurance is a bless to the maintain #hich has a#a!ened many ne# hopes and
aspiration for human !ind a vision of a ne# 4ust e$uitable and fair global order
governed by a time tested value system based on a noble human passion of la#
compassion tolerance and mutual understanding.
Globali8ation has opened ne# formalities of technology !no#ledge
communication and information Reliance Life insurance is a gift of
globali8ation for the maintain development of these formalities there before is a
daunting challenge i.e. the utili8ation of these facilities to create a brave ne#
#orlds in #hich a $ualitative and a clear change bet#een yesterdays and
hormones can easily perceived.
I have done a detailed the comparative study of Reliance Life insurance
#ith LIC as #ell as other private companies and concluded that most of the
people proffered to deal #ith nationali8ation insurance companies.
About the a#areness regarding the products offered regarding by
Reliance Life insurance I conduced that most of the people are but they stillneeds more publicity among the citi8ens of the city.
Reliance Life insurance has set all the strategies and mission after proper vision
and is achieving the largest by #or!ing in co(operative and co(ordinate manner
and giving the people full services and facilities and ma!ing easy. ?o I #ould
li!e to conducted by saying that Reliance Life insurance is a #onderful gift
given to the man!ind in the ne# are for people development and maintenance of
the #orld as #ell as India.
+9
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+
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EU-*TIONNAIR-
-. >ave you heard about privati8ation in Life Insurance sector K
a& Hes b& 'o
2. >ave you heard about 3rivate Insurance Company Reliance Life
Insurance K
a& Hes b& 'o
". *rom #here did you come to !no# about Reliance Life Insurance K
a& 6lectronic :edia b& 3rint :edia
c& Agents d& 5thers
+. Do you thin! services provided by 3rivate sector #ill be better than
3ublic
?ector companies K
a& Hes b& 'o
If yes Remar!sNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
If no ;hyNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
,. Do you have Insurance 3olicy K
a& Hes b& 'o
9. ;ith #hich company do you have Insurance 3olicy K
. ;hat according to you are motives of buying Life Insurance 3olicy K
+=
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a& 1a0 ?aving b& Life cover
c& Li$uidity d& ?ecure Investment
=. Do you have any plan to buy Insurance 3olicy in near future K
a& Hes b& 'o
. If you have any plan to buy an Insurance 3olicy #hich 3olicy #ould you
prefer K
a& ?aving 3lan b& 3rotection 3lan
c& 3ension 3lan d& Children’s 3lan
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b& Rs. ,