ACKNOWLEDGEMENT

In preparation of this report by me, I feel great pleasure because it gives me extensive
practical knowledge in my career. I get idea about Indian Life Insurance Industry by this project.

I am thankful to Mrs.Shailja Dixit (Faculty Guide) for valuable inspiration and guidance
provided me through out the course of this project and have encouraged me at every stage of the
project.

I would like to extend my gratitude towards Dr.R.P.Singh, Director,ABS

, for his technical and moral support required for the realization of this project report.

I would like to take opportunity to express my gratitude towards all of them who have
contributed directly or indirectly in my project work.

4
 TABLE OF CONTENTS

Statement by the candidate

Certificate by the faculty

Acknowledgement

Synopsis of the report

Objective of the report

CHAPTER 1

INTRODUCTION

THEORETICAL PRESENTATION OF THE TOPIC

CHAPTER 2

ORGANIZATIONAL PROFILE OF THE COMPANY

1. The Background
2. The Management
3. The Company and its Product line
4. Features of the Product
5. Organization Structure
6. Competitors
7. Govt Policies/ Business Environment
8. Balance sheet etc. Audited
9. SWOT Analysis
10.Achievements/ Awards
11.Future Prospects
CHAPTER III-

PRESENTATION OF DATA AND ANALYSIS

 Sources of data
 Sample size, if any
 Methods of data collection
 Instrument used
 Tools and techniques of analysis

CHAPTER IV-Findings,Conclusions &Suggestions

Research Methodology

Analysis of the Report

Findings

Recommendations

Suggestions

Conclusion

BIBLIOGRAPHY
 ANNEXURE:

Questionnaire

LIST OF DIAGRAMS

• Kotak : Area of Business

• Age vise classification

• Gender wise classification

• Income wise classification

• No of member having insurance

• How many person having insurance in family

• Different policy bought by customers

• Fully insured and under insured persons

• Market share of different life insurance

LIST OF TABLE

• Potential of Life Insurance sector

• Market share of LIC and all private player

• Individual Market share of Insurance company

• Total asset of Life Insurance companies

• Total premium generated

• The future premium income Generated will be

• Untimely death benefit to policy holder in the past

• Age vise classification

• Gender wise classification

• Income wise classification

• No of member having insurance

• How many person having insurance in family

• Different policy bought by customers

• Fully insured and under insured persons

• Market share of different life insurance policy

SYNOPSIS OF THE REPORT

The project title is “Potential of Life Insurance Industry”. This shows the scope
for private insurance companies have great opportunities to cover the market and can insure the
customer. With the initiation of the deregulation in the Indian insurance market, the monopoly of
big public sector companies in life insurance market has been broken. New private players have
entered the market and with their innovative approaches and better use of distribution channels
and technology, they are eating in to the shares of established public sector companies in Indian
Insurance Market. Since the deregulation has been put in to place, the market share of LIC has
come down to 71.4% in life insurance market while the private players have captured around 17%
market in the general insurance segment. This report includes the key private players in the
insurance market such as ICICI Prudential, Kotak Life Insurance Bajaj Allianz, Birla Sun life,
and TATA AIG. It also includes the leading competitors in the life insurance and general
insurance segments along with their market shares.
 OBJECTIVE OF THE REPORT

The main of the present study of is accomplish the following objective.

 Proper understanding and analysis of life insurance industry.

 To know about brand awareness of Kotak Life Insurance and customer’s

preference about Kotak Life Insurance.

 Conduct market survey on a sample selected from the entire population and
derived opinion on that research.

 According to the market survey we came to know about potential of insurance

market in our city.

 And base on analysis of the result thus obtained make a report on that research.

 Training aims at recruiting maximum number of Life Advisors and to Sell the
maximum policies for the company and bring the business for the company
which ever is going at the particular point of time.
 Along with it I will be gaining the thorough knowledge of insurance sector. This
will give me in more confidence in marketing products given to me.
 As the Kotak Life Insurance is well reputed company in India it’s great chance
for me to observed different products launch by other competitor companies like
ICICI prudential, Bajaj alliance ,LIC, Max New York life etc. In all, it is to
understand the overall working of the Life insurance sector.
 The objective behind the project is as follows:
 To find the right candidate.
 To about their family background, occupation, social relation, Qualification, Age.
 Finalize candidates for the IRDA training
 CHAPTER I

THEORETICAL
PRESENTATION OF THE
TOPIC
SIGNIFICANCE OF THE PROJECT : This project has great significance to the researcher.

(1) Because this study has provided the researcher a practical insight of investing
habits and investment profile of investor.

(2) The Study also helped the researcher in partial fulfilled of M.B.A. curricular.

(3) The study is also useful to the investors having interest.

Background of the present study: Regular researches have to be made frequently in the
study undertaken here because with the passage of time consequently the facilities
provided by the company change with the change in the needs of the prospective
investor.

Review of previous research studies in the relevant area of your research:Previously

the prospects of life insurance were less and the facilities sustained.But with the change in
the time periodthe facts have changed.Still refrence is taken from the knowledge ones and
the seniors which enabled to take this report to a new height.

SCOPE OF THE PROJECT : For the purpose of this project, a survey was conducted among
100 investors at random.This study is based on primary data all informations is collected from
investors through questionnaire.So the scope of project is limited to the information provided by
the investors.To get proper understanding of these concepts, the study of all the investors are
done based on their investments habits, their risk profile and their awareness about available
options.
 CHAPTER II

ORGANIZATIONAL
PROFILE OF THE
COMPANY
KOTAK LIFE INSURANCE (BACKGROUND)

Kotak Group was established in 1985.Kotak Mahindra Bank is the parent company of the group.
Kotak Group entered into the life insurance business in 2001. Kotak Mahindra Old Mutual Life
Insurance Ltd. is a joint venture between Kotak Mahindra Bank Ltd. (76%) and Old Mutual plc.
(24%) Old Mutual plc.Is a world-Class international financial services company. It was
established in South Africa before 160 years.

OLD MUTUAL is the largest financial services business in South Africa, through its life
insurance, asset management, banking and general insurance operations. The company serves 4
million life insurance policyholders and employs over 13 000 South Africans in its local
operations.

In the USA, OLD MUTUAL is one of the top ten fixed annuity businesses offering an array
of specialist asset management skills through its 23 asset management businesses. The company’s
US Life business recorded sales of $4 billion at the end of 2002.

Operations in the United Kingdom are focused on wealth management, through Gerrard as one of
the leading private client

The OLD MUTUAL Group has the ability to cater for a variety of consumer segments and offers
a comprehensive and innovative range of products for all income groups.
Evolution of Insurance business in Kotak Mahindra business is like this:-

Year Significant Changes Business Development

1985 Trade Finance

1986 Corporate Finance

1990 Car Finance

1991 Investment banking

1992 GOLD MAN SACHS Brokerage and Distribution

1995 FORD CREDIT Commercial Vehicle

1997 Consumer Finance

1998 Mutual Fund

2001 OLD MUTUAL PLC. Life Insurance

2003 Bank

MANAGEMENT
We at Kotak Life Insurance work as a team and have a flat management structure. Our top
management has many years of experience which has helped guide the company into a position
of leadership.

MR. UDAY KOTAK is the CEO of the company.

Other Top Management persons are as follows:-

Mr. Gaurang Shah (Managing Director)

Mr. Gaurang Shah is the Managing Director of Kotak Mahindra Old Mutual Life Insurance
Limited.Mr. Gaurang Shah is a Chartered Accountant and a Cost and Works Accountant. He
has also done his Company Secretary ship from the Institute of Company Secretaries of
India. Mr. Gaurang Shah has been with the Kotak Group for the past eight years where he
has held different positions of great responsibility and juggled multiple tasks effectively. His
cumulative experience, primarily in financial services, stands at over 21 years, several of
those in building the retail finance business. At Kotak Life Insurance, Mr. Shah will focus on
developing new lines of businesses and leveraging the company's existing competencies and
network to steer Kotak Life Insurance on its ongoing growth path with even greater thrust.
Mr. Shah has a commendable expertise in managing a large number of employees.

Mr. Shah has been previously associated with Kotak Mahindra Primus since its inception
and has contributed towards its growth to become a Rs.2000 Cr plus business. Before
coming to Kotak Life Insurance, Gaurang Shah was Group Head of Retail Assets for Kotak
Mahindra Bank. The Retail Assets include commercial vehicles, personal loans, structured
products, car loans and loans against shares.

Mr. G Murlidhar (Chief Financial Officer)

Mr. Murlidhar is a Chief Financial Officer and Company Secretary of Kotak Life
Insurance. Mr. Murlidhar is an associate member of the Institute of Chartered
Accountants of India, an associate member of the Institute Of Company Secretaries
of India, and graduate member of the Institute of Cost & Works Accountants of
India. Mr. Murlidhar possesses over 20-year work experience and has earlier
worked with National Dairy Development Board (NDDB), MDS Switchgear
Limited and Nicholas Piramal India Limited and Ion Exchange Ltd. Prior to Kotak
Life Insurance; he held the position of VP-Finance at Gujarat Glass Ltd.

As Chief Financial Officer at Kotak Life Insurance, he oversees all aspects of Finance
including Operations, Regulatory, Internal Control, Finance, Accounts and Treasury.
Mr. Nandip Vaidya (Vice President - Sales)

Mr. Nandip Vaidya is the Vice President - Sales at Kotak Life Insurance. Mr. Vaidya holds a
B.Tech (Mechanical) degree from IIT Mumbai and has also completed his Post Graduate
Diploma in Business Management from IIM-Ahmedabad.

He started his career as a Management Consultant at A.F. Fergusson. After completing 5 years
there, he moved onto various positions within the Kotak Mahindra group starting from Car
Financing (Kotak Mahindra Finance Ltd) to Stock broking & Distribution of investment
products/ Mutual funds (Kotak Securities). Mr. Vaidya set up the private banking business and
private equity fund for the Kotak group.

Mr. Arun Patil (Vice President - Sales & Management Development)

Mr. Eksteen de Waal is the Sales Training Head of Kotak Life Insurance. He joined on
secondment from Old Mutual South Africa for a period of two years. Eksteen is a post- graduate
in Law and practiced Law as well as lectured at South African Universities before joining the Life
Insurance Industry. He has over 23 years' experience in the Life Insurance Industry. He worked
for Sanlam Life in South Africa for 3 years before joining Old Mutual more than 20 years ago.
Eksteen started with Old Mutual as a Legal Adviser and after that held various positions. He sold
life assurance for some time, served as Head of Old Mutual's Training Division, Head of Old
Mutual's Trust Company, Project Leader for implementing a new Sales Process with McKinsey's,
Head of Conventions and Motivation, Head of Agency Marketing and finally Head of Banc
assurance with Old Mutual Bank. In addition he played a role in the wider Industry. He was Vice-
President of the South African Insurance Institute for two years as well as Vice-President of the
Financial Planning Institute for three years. In this time Eksteen pioneered the introduction of the
CFP qualification into South Africa. He has traveled widely during his career, working in the
USA and England and also implemented Training Programme in Namibia, Zimbabwe, Malawi
and Kenai. His current role is to substantially upgrade the level of Training and assist in the
implementation of Performance Management Systems in Kotak Life Insurance.

AREA OF BUSINESS

Kotak Mahindra one of India's leading financial institutions was born in 1985 as Kotak Capital
Management Finance Limited. This company was promoted by Mr. Uday Kotak, Mr. Sidney A.
A. Pinto and Kotak & Company. Industrialists Mr. Harish Mahindra and Mr. Anand Mahindra
took a stake in 1986, and that's when the company changed its name to Kotak Mahindra Finance
Limited.

Kotak Mahindra is one of India's leading financial institutions, offering complete financial
solutions that encompass every sphere of life. From commercial banking, to stock broking, to
mutual funds, to life insurance, to investment banking, the group caters to the financial needs of
individuals and corporate.
The group has a net worth of around Rs.2,000 crore and employs around 6,000 employees across its
various businesses servicing around one million four hundred thousand customer accounts through a
distribution network of branches, franchisees, representative offices and satellite offices across 216
cities and towns in India and offices in New York, London, Dubai and Mauritius.

KOTAK GROUP IS INVOLVED IN THE FOLLOWING AREAS OF

BUSINESS:-

Kotak Mahindra Prime Ltd.

Kotak Mahindra Prime Limited (KMPL) is a 100% subsidiary of Kotak Mahindra Group (Kotak
Group) formed to finance all passenger vehicles. The company is dedicated to financing and
supporting automotive and automotive related manufacturers, dealers and retail customers. The
Company offers car financing in the form of loans for the entire range of passenger cars and multi
utility vehicles. The Company also offers Inventory funding to car dealers and has entered into
strategic arrangement with various car manufacturers in India for being their preferred financier.

As on March 31, 2005, KMP has a retail distribution network comprising of 54 branches
(including representative offices) covering about 100 locations in 17 states in the country and has
a wide network of Direct Marketing Associates, brokers and agencies supporting the distribution
network and servicing around 113,000 customers.

Kotak Mahindra Capital Company Ltd

Kotak Investment Banking* (KIB) is India's premier Investment Bank

Kotak Investment Banking (KIB) and Kotak Institutional Equities represent the securities
business of the Kotak Mahindra Group ** (KI),

Kotak Investment Bank is a full service Investment Bank bringing to its clients the global reach
and the local knowledge and skills of Kotak Mahindra. As a full service Investment Bank, Kotak
Investment Baking’s core business areas include Equity Issuances, Mergers & Acquisitions,
Advisory Services and Fixed Income Securities and Principal Business.

Its strength lies in understanding the clients' businesses backed by a strong research team and an
extensive distribution network, which spans a wide variety of investors across the country. It is
also the first Indian Investment Bank to be registered with the Securities & Futures Authority in
the UK (through our wholly owned subsidiary) and the National Association of Securities and
Dealers in the USA.

It’s the first Indian Investment Bank to be appointed by the Government of India as a Co-lead
Manager in their international divestment of Gas Authority of India Ltd through a GDR offering.

Kotak Investment Bank today well positioned in an increasing globalize environment to provide
full service to its clients based either in India or overseas.

Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank Limited (KMBL) is the holding company and the flagship of the Kotak
Mahindra Group. It was actually incorporated as Kotak Capital Management Finance Limited on
November 2, 1985 and obtained its ‘Certificate of Commencement of Business on February 11,
1986.
It commenced operations with Bill Discounting and soon started other fund-based activities like
corporate leasing & hire purchase, automobile finance and money market operations.
Subsequently, it also entered the funds syndication and the Investment banking business.

Kotak Mahindra Asset Management Company

Kotak Mahindra Asset Management Company (KMAMC), a wholly owned subsidiary of KMBL,
is the asset manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in
December 1998 and has over 1, 35,000 investors in various schemes. KMMF offers schemes
catering to investors with varying risk- return profiles and was the first fund house in the country
to launch a dedicated gilt scheme investing only in government securities.

International Subsidiaries

Kotak Mahindra International Limited (KMIL) is the international arm of the Kotak Mahindra
Group and was incorporated in 1994 in Mauritius, with a branch in Dubai. Today the
international operations also cover the United Kingdom, through Kotak Mahindra U.K. Limited
and in the USA, through Kotak Mahindra Inc. USA. These companies are subsidiaries of Kotak
Mahindra Capital Company (KMCC) – the Investment Banking Division of the Group. Services
offered include GDR and ADR trading and broking, debt syndication, placement of Indian
securities and advisory services. Kotak Mahindra was the first Indian group to be registered with
the Securities and Futures Authority, U.K. Also, Kotak Mahindra is the first Indian group
registered in the US providing service to both Institutional investors and High Net worth Clients
in the US for their investments into Indian markets.
Kotak Securities

Kotak Securities Ltd., subsidiary of Kotak Mahindra Bank Ltd., is one of India’s largest
brokerage and distribution house. Over the years Kotak Securities has been one of the leading
investment service providers catering to the needs of various investor categories both institutional
and non-institutional.

The Private client group (PCG) of the Company provides value added investment advisory
services to high net worth individuals, NRI investors, trusts, corporate and Banks. The investment
product range offered by PCG covers equity investment and equity trading, equity derivatives,
portfolio management, IPO’s and Mutual funds. The Company has a full fledged research
division involved in macro economic studies, sectoral research and company specific equity
research combined with a strong and well networked sales force which helps deliver current and
up to date market information and news.

Kotak Securities Ltd., Depository Participant with National Securities Depository Limited
(NSDL) and Central Depository Services Ltd. (CDSL) provides dual benefit services wherein the
investors can use the brokerage services of the Company for executing the transactions and the
depository services for settling them.

Under the Portfolio Investment Scheme offered by the Company, the funds of the investors are
managed by a highly competent team comprising of Equity Strategist, a Portfolio Manager and a
team of equity, technical and derivatives analysts.

Kotak Securities Ltd., also an Approved Intermediary under the Securities Lending Scheme,
1997, facilitates clients to borrow and lend securities.
KMOM – THE PARTNERSHIP AND LINEAGE
A 26%-74% JOINT VENTURE BETWEEN

KOTAK MAHINDRA AND OLD MUTUAL

KOTAK LIFE INSURANCE

Brand equity

Entrepreneurial employees
 Branch network

Knowledge of the Indian market

Access to customer base

Distribution associates

OLD MUTUAL PLC

Domain knowledge

Technology

Product innovation

Training expertise

Global perspective

System and processes

Multi channel management

Old Mutual was established more than 150 years ago. Old mutual plc. is a world-class
international financial service company. It owns the largest companies in the following areas in
South Africa. They are:

1. Life Insurance Company

2. Asset Management Company

3. Bank

4. Non-life insurance company

It has been developed into an International financial services group whose activities are focused
on asset gathering and asset management. The Old Mutual Group offers a diverse range of
financial services in three principal geographies: South Africa, the United States and the United
Kingdom. The company is listed on the London Stock Exchange with a market capitalization of
approximately $6 billion and is a member of the elite FTSE 100 index. In the 2003 rankings of
the World's 500 largest corporations by Fortune magazine, Old Mutual climbed 87 places to
position number 366 and was also listed as the 14th largest insurance company in the world.
Old Mutual is the largest financial services business in South Africa, through its life insurance,
asset management, banking and general insurance operations. The company serves 4 million life
insurance policyholders and employs over 13 000 South Africans in its local operations.
In the USA, Old Mutual is one of the top ten fixed annuity businesses offering an array of
specialist asset management skills through its 23 asset management businesses. The company’s
US Life business recorded sales of $4 billion at the end of 2002.
Operations in the United Kingdom are focused on wealth management, through Gerrard as one of
the leading private client stock broking businesses in the UK.
The Old Mutual Group has the ability to cater for a variety of consumer segments and offers a
comprehensive and innovative range of products for all income group

Kotak Mahindra Old Mutual Plc

Brand Equity Domain Knowledge

Branch Network Technology

Entrepreneur Employees Product innovation

Knowledge of Indian market Training Expertise

Access to customer base Global perspectives

Distribution associates System and Process

Multi Channel working system

Products and services of KOTAK

Bank

Life Insurance

Mutual Fund

Car Finance

Securities

Institutional Equities

Investment Banking

Kotak Mahindra International

KOTAK PRIVATE EQUITY

PRODUCTS OF KOTAK LIFE INSURANCE

Kotak’s Product for Individual Life Insurance:-

1. Kotak Capital Multiplier Plan

2. Kotak Flexi plan

3. Kotak Retirement Income Plan (unit-linked)

4. Kotak Retirement Income Plan (non unit-linked)

5. Kotak Eternal Life Premier Shield

6. Kotak Head start assure wealth

7. Kotak smart advantage plan

8. Kotak safe investment plan

9. Kotak Head start Future Protect

10. Kotak Easy growth plan (1.25 times)

11. Kotak Easy growth plan (5 times)

12. Kotak sukhi Jeevan

Traditional Plans:-

1. Endowment Plan

2. Kotak Term plan

Kotak’s Product for Group Life Insurance

1. Kotak Superannuation group plan

2.Kotak Gratuity Group Plan

Additional features;-
1. Riders

. Nominees

Life Guard
Kotak Capital Multiplier plan:-

Kotak is the only plan of its kind that allows the return to be enjoyed beyond maturity. It is a kind
of super endowment plan that offers the bonus every year, and also offers the facility to increase
the investment and it also offers the facility to withdraw the money as when wants to over a 15
year period post maturity, apart from that additional life cover of 10%, which is over and above
the life cover which has been opted.

Other Features like surrender to the policy can be opted out of any medical urgency, following
riders can be opted:-

• Preferred term Benefit

• Accidental Death Benefit

• Permanent disability Benefit

• Critical Illness Benefit

• Life Guardian Benefit

• Accidental Disability Guardian Benefit

Kotak Flexi Plan:-

Kotak Flexi gives a comprehensive long term solution for managing finances. It gives the
insurance which is an important part of the portfolio. It helps in reducing the loss of investments
as done in equity market because different options are given for the type of aggressiveness
required for the investment and portfolio is managed by the company. As experts are there in the
company to look after the investments made.

Different Fund options are available like Dynamic floor guaranteed floor etc.

Special Feature: -
Flexi also has the feature of Guaranteed Maturity Value that is on the maturity of the policy one
will be getting at least whatever has been invested, apart from whatever the condition is of the
stock market.

Automatic Cover that is policy conversion to paid-up feature is there.

Riders are available

And feature of switching between the funds is also available.

Switching is tax free.

Kotak Smart Advantage Plan:-

Marketing strategy of all the companies is different besides the lot of similarity in the
products.

If we see the data then we will find that Kotak Mahindra Life Insurance has very less number of
branches according to the latest data in annual report of 2006-2007 by IRDA, Kotak Mahindra
Life Insurance has 75 branches, but the premium that they offer to Insurance Industry is 971
cores, and the number of life advisors are not much if we compare it to other companies so from
where does this Premium is amounting this much, it shows that Kotak focuses on big business
houses, i.e. they are much desperate for their business with elephant then humming birds.

If we see the things in a different fashion then we will find that the Kotak is having the shield of
Guaranteed Maturity Value which is the feature which a few company (Max New Year Life) has.

No doubt the company is having a long list of the product with them. Variety is there as in the
range of the product varies from Child product to retirement solutions, but there focus is in
CHILD PLAN as their CHILD PLAN; KOTAK HEADSTART WEALTH ASSURE PLAN was
a huge success.
Adding into it JEENE KI AZAADI is the tag that they maintained and they convey in the market
in order to attract the class of 30-45 age who are strong believer of freedom in working life and
45 is the age group who thinks for the retirement then to show them the path to get relieved from
the responsibilities they have for their family, which is the part of Advertising and Brand
Promoting the core marketing strategy
 Organizational Structure

It represents the hierarchical structure of the organization. In other words it represents the
working levels in an organization. It is of two types

a. Tall structure

b. Flat structure
Its hierarchy in Kotak Life Insurance is like this:-

HIERARCHY OF KMOM LIFE INSURANCE LIMITED

(LUCKNOW BRANCH)

Branch manager
 Assistant BM Branch Operations In
charge (BOE)
Sales Manager
Operation
Executive

Assistant SM Operations

Life advisor

INDUSTRY

Snap Shot -
• (a) LIC – Fully owned by Government
 (b) Postal Life Insurance

• (ii) Private players – The number of companies in Insurance particularly in Life Insurance
has changed drastically now the number is in 17. List of them are mentioned as below:-

1. Bajaj Allianz Life Insurance

2. ICICI Prudential Life Insurance

3. TATA AIG Life Insurance

4. Max New York Life Insurance

5. AVIVA Life Insurance

6. Bharti AXA Life Insurance

7. Kotak Mahindra Life Insurance

8. Reliance Life Insurance

9. SBI Life Insurance

10. HDFC Standard Life Insurance

11. Birla Sun Life Insurance

12. Sahara Life Insurance

13. ING Vysa Life Insurance

14.MetLife India Insurance Co. Pvt. Ltd.

COMPETITORS OF KOTAK LIFE INSURANCE

ICICI PRUDENTIAL

ICICI Prudential is a stiff competitor for HDFC SLIC. The company is a merger between ICICI
Bank which is the biggest private bank in India and Prudential Plc which is a global life insurance
company.

The company has an investment plan which is market related – Invest Shield Life. In this plan
even if the market falls, the premium will be returned to investors. It is a guaranteed plan which
ensures the company carefully invests your money. The stock market performance of ICICI
Prudential is much better than HDFC SLIC. The returns on the growth fund were 46.28%
compared to the 42.70% offered by HDFC SLIC. Customers are attracted by higher returns and
this is a plus point for Prudential.

The company is very well advertised. The advertisements are showcased in movies, television,
newspapers, magazines, bill boards, radio etc. The company has an excellent brand ambassador –
Mr. Amitabh Bacchan. His promotion of the company builds trust and faith in the minds of our
people.

However the charges are very high in the plans offered by ICICI Prudential. It is 35% during the
first year, 15% in the next year and 3% from the third year onwards. Also a higher minimum
premium of Rs. 8000 is charged. Hence the policies are not accessible to the lower strata of the
society. (Source: www.iciciprulife.com)
BIRLA SUN LIFE

Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group,
one of the largest business houses in India and Sun Life Financial Inc., a leading international
financial services organization. The local knowledge of the Aditya Birla Group combined with
the expertise of Sun Life Financial Inc., offers a formidable protection for your future. (Source:
www.birlasunlife.com)

The Aditya Birla Group has a turnover close to Rs. 33000 crores with a market capitalization of
Rs. 53400 crores (as on 31st March 2007). It has over 72000 employees across all its units
worldwide. It is led by its Chairman - Mr. Kumar Mangalam Birla. Some of the key organizations
within the group are Hindalco and Grasim.

Sun Life Financial Inc. and its partners today have operations in key markets worldwide,
including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan,
Indonesia, India, China and Bermuda. It had assets under management of over US$343 billion, as
on 31st March 2007. The company is a leading player in the life insurance market in Canada.

Being a customer centric company, BSLI has invested heavily in technology to build world class
processing capabilities. BSLI has covered more than a million lives since inception and its
customer base is spread across more than 1000 towns and cities in India. All this has assisted the
company in cementing its place amongst the leaders in the industry in terms of new business
premium income. The company has a capital base of 520 crores as on 31st July, 2007.
Its Flexi Life Line Plan offers life long insurance cover till the policy holder is 100 years of age.
There are guaranteed returns of 3% p.a. net of policy charges after every 5 years from the
eleventh policy year onwards. However the charges are very high. The initial charges for the first
year are 65%. Hence the fund value is greatly reduced.

BAJAJ ALLIANZ

Bajaj Allianz is a joint venture between Allianz AG with over 110 years of
experience in over 70 countries and Bajaj Auto, a trusted automobile manufacturer for over 55
years in the Indian market. Together they are committed to offering you financial solutions that
provide all the security you need for your family and yourself. Bajaj Allianz is the number one
private life insurer for the year 2005 – 2006. It is leading by 78 crores. It has experienced a
whopping growth of 216% in the last financial year.

The company has sold 13, 00,000 policies and is backed by 550 offices across India. It offers
travel insurance, motor insurance, home insurance, health and corporate insurance. The mortality
charges are lower than HDFC SLIC. The entry age could be zero years which allow even new
born babies to be insured.
TATA AIG

Tata Aig is a joint venture between the Tata group and American International Group Inc. In one
of the plans the company offers hospital cash benefit wherein it will pay Rs. 2500 per day in case
of hospitalization and Rs.12.5 lakhs in case the person suffers from any critical illness. Annual
premium is much less (about Rs. 6712) to avail such a good benefit. Charges are relatively low
compared to HDFC SLIC for some policies.

The company offers high coverage plans at low cost. There is a plan even for a policy term of 1
year. Your family can continue to enjoy their current lifestyle even in the case of something
happening to you. These plans are very flexible and HDFC SLIC could adopt this idea of insuring
individuals for short periods of time. For example; there is a family of four. The only earning
member is the father.

He has just taken a loan from a bank of 20 lakhs to purchase a new home. He is able to repay the
loan with his current salary in 15 years. The problem arises if something were to happen to him
within these fifteen years. Not only will the family face the emotional and financial loss of their
father but they will also have to repay the home loan or risk being homeless. (Source:
www.tataaig.com)
Market Share
Company Indian Foreign Market
share based
Promoter/ Insurance
on premium
Partner
Aviva life Dabur Aviva, UK 1.14
Bajaj Bajaj Auto Allianz, 7.56
Allianz Germany

Birla sun Aditya Sun Life, 1.89

life Birla group Canada
HDFC HDFC Standard 2.87
Standard Life, UK

ICICI ICICI Prudential, 7.35

Prudential Bank UK

ING Vysya ING 0.79

Vysya Bank Insurance,
Netherland
s
Kotak Kotak Old 1.11
Mahindra, Mahindra Mutual
Old Bank South
Mutual Africa
Max New Max India New York 1.23
York Life, US
MetLife Jammu & MetLife, 0.40
Kashmir US
Bank
Sahara Sahara None 0.80
Life India
Insurance
SBI Life SBI Cardiff, 2.31
France
Market share:

2003-04 2004-05 2005-06 2006-07 2007-

08
LIC
98% 94% 87% 78% 72%
Private
Players 2% 6% 13% 22% 28%

Potential of the Insurance sector:

Total population 1.1 billion

Total population of 253 millions

Insurable class

Total population 88.5 millions

Insured
growth of Insurance industry’s private players
 BUSINESS ENVIRONMENT

The Indian Insurance Market is only 0.4 percent of the Global Insurance
Market. In India, only 78 million people out of a total population of 1 billion

have a life insurance policy. Given the size of the Indian population, the
insurance sector in India has a huge potential for growth.

It is estimated that the Indian Insurance market could touch $25 billion by
2010 (assuming a 7% real annual growth in GDP) (source: bima online)

With 13 life insurance players having a diverse spectrum of products, the

acceptability of life insurance has increased manifold in the past year. The

total premium underwritten in India in the year 2002-03 was Rs.12324.83

crores. Increased competition has driven prices down and life insurance is

being viewed more and more as a necessity.

The Company intends to tap this potential for growth and grow with the
industry. Its focus is on sustainable expansion.

In the past financial year, insurance companies have gained greatly from
falling interest rates resulting in gains on safer investments like Government

Securities. However, with limited investment avenues available, life insurers

would need to invest in equity products to maintain adequate level

of returns.
 REGULATORY ENVIRONMENT

With a view to ensure the orderly growth of the insurance industry, the
Insurance Regulatory and Development Authority (IRDA) prescribed
regulations for Brokers, Corporate Agency and Protection of Policyholders.
In order to promote bancassurance, IRDA has notified guidelines for
Referral Arrangements with Banks.

Regulatory changes pertaining to Brokers, Corporate Agency and

Bancassurance will go a long way in promoting the efficient distribution of
insurance products and development of the insurance industry.

The IRDA has also prescribed regulations stipulating the manner of

collecting premiums to ensure clarity. The rural and social sector obligations
of insurers have been increased during the period under consideration.
 The Insurance Regulatory and Development Authority (IRDA)

The Insurance Act, 1938 had provided for setting up of the Controller of Insurance to act
as a strong and powerful supervisory and regulatory authority for insurance. Post
nationalization, the role of Controller of Insurance diminished considerably in
significance since the Government owned the insurance companies.

But the scenario changed with the private and foreign companies foraying in to the
insurance sector. This necessitated the need for a strong, independent and autonomous
Insurance Regulatory Authority was felt. As the enacting of legislation would have taken
time, the then Government constituted through a Government resolution an Interim
Insurance Regulatory Authority pending the enactment of a comprehensive legislation.

The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for
the establishment of an Authority to protect the interests of holders of insurance policies,
to regulate, promote and ensure orderly growth of the insurance industry and for matters
connected therewith or incidental thereto and further to amend the Insurance Act, 1938,
the Life Insurance Corporation Act, 1956 and the General insurance Business
(Nationalization) Act, 1972 to end the monopoly of the Life Insurance Corporation of
India (for life insurance business) and General Insurance Corporation and its subsidiaries
(for general insurance business).

The act extends to the whole of India and will come into force on such date as the Central
Government may, by notification in the Official Gazette specify. Different dates may be
appointed for different provisions of this Act.

The Act has defined certain terms; some of the most important ones are as follows
appointed day means the date on which the Authority is established under the act.
Authority means the established under this Act.
Interim Insurance Regulatory Authority means the Insurance Regulatory Authority set up
by the Central Government through Resolution No. 17(2)/ 94-lns-V dated the 23rd
January, 1996.

Words and expressions used and not defined in this Act but defined in the Insurance Act,
1938 or the Life Insurance Corporation Act, 1956 or the General Insurance Business
(Nationalization) Act, 1972 shall have the meanings respectively assigned to them in
those Acts

A new definition of "Indian Insurance Company" has been inserted. "Indian insurance
company" means any insurer being a company (a) which is formed and registered under
the Companies Act, 1956
(b) in which the aggregate holdings of equity shares by a foreign company, either by
itself or through its subsidiary companies or its nominees, do not exceed twenty-six per
cent. Paid up capital in such Indian insurance company (c) whose sole purpose is to carry
on life insurance business, general insurance business or re-insurance business.
ACHIEVEMENTS
. In October 2005, Kotak Group acquired the 40% stake in Kotak Mahindra Prime

1986 Kotak Mahindra Finance Limited starts the activity of Bill Discounting

1987 Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market

1990 The Auto Finance division is started

The Investment Banking Division is started. Takes over FICOM, one of India's largest
1991
financial retail marketing networks

1992 Enters the Funds Syndication sector

Brokerage and Distribution businesses incorporated into a separate company - Kotak

1995 Securities. Investment Banking division incorporated into a separate company - Kotak
Mahindra Capital Company

The Auto Finance Business is hived off into a separate company - Kotak Mahindra
Prime Limited (formerly known as Kotak Mahindra Primus Limited). Kotak Mahindra
1996 takes a significant stake in Ford Credit Kotak Mahindra Limited, for financing Ford
vehicles. The launch of Matrix Information Services Limited marks the Group's entry
into information distribution.

Enters the mutual fund market with the launch of Kotak Mahindra Asset Management
1998
Company.

Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.
Kotak Securities launches its on-line broking site (now www.kotaksecurities.com).
2000
Commencement of private equity activity through setting up of Kotak Mahindra
Venture Capital Fund.

Matrix sold to Friday Corporation

2001
Launches Insurance Services

Kotak Mahindra Finance Ltd. converts to a commercial bank - the first Indian company
2003
to do so.

2004 Launches India Growth Fund, a private equity fund.

Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra Prime
(formerly known as Kotak Mahindra Primus Limited) and sells Ford credit Kotak
2005
Mahindra.
Launches a real estate fund

Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company
2006
and Kotak Securities
held by Ford Credit International (FCI) and FCI acquired the stake in Ford Credit
Kotak Mahindra (FCKM) held by Kotak Group.
In March 2006, Kotak Group has agreed to buy 25% stake held by Goldman Sachs
in KMCC and KS subject to regulatory approvals.

Awards and Recognition

∞Kotak Mahindra Bank was in the Top 5 for Corporate Governance

inAsia Pacific / Africa by IR Global Rankings 2008
∞Kotak’s Investor Relation website was adjudged the most voted
company in Asia Pacific / Africa by IR Global Rankings 2008 in five
categories

∞Bank emerged in top 3 in 23 categories, including No.1 in 11

categories in the EuromoneyPrivate Banking Poll 2008

∞Bank IT team got 6 awards (including Best IT Team of the year for
the 2nd consecutive year, Best overall winner), organized by IBA in
recognition of achievements in Banking Technologies.

∞Kotak Investment Banking was ranked No. 1 by Prime Database

Bloomberg forFY08 for (a)India Domestic IPOs(b)Qualified Institutional
Placements including Government Divestments

∞Kotak Securities was awarded leading Equity house in India for 2007
by Thomson ExtelSurvey Awards for Asia Pacific

∞Kotak Capital -Best Investment Bank in India : 2007,2006∞Kotak

Securities -Best Broker : 2006, 2005Award

∞Kotak Securities -Topped the Brokers Poll as the Best Brokerage firm
in India: 2007, 2006

∞Kotak Bank -Winner in 33 categories in the AsiamoneyPrivate

Banking Poll :2006; including the Best Private Bank award in South
Asia

∞Kotak Mutual -Best Bond Fund House: 2006

∞Kotak Bond Regular Plan was ranked the best debt fund over 3
years :2006

∞'Kotak Bond Regular Plan' was ranked ICRA-MFR1 and was the
recipient of the Silver Award
∞Kotak Mutual –“Best Debt Fund House”and “wealth creator
award”at Outlook Money NDTV Profit 2007

∞Kotak Securities -Awarded Best Performing Equity Broker in India

∞Kotak Securities –The Most Customer Responsive Company in
Financial Services Sector in 2007 & in Financial Institution Sector in
2006

SWOT analysis of the company

This is the process by which strength and weaknesses of the company, threats and opportunities
for a company can be identified. This is very effective and useful tool as it helps in preparing
strategies before only.

Strengths

The strengths of Kotak Life Insurance are –

Financial Acumen - Holds a stable and diversified portfolio and has received some of the
highest ratings in financial strength from industry’s independent rating agencies.

Disciplined fund management - Years of experience in asset management, and a strong track
record in managing funds - backed by the acclaimed expertise of Old Mutual plc

Innovativeness - Known for being an innovator in providing world-class pragmatic financial

solutions, with a constant focus on customization and flexibility

Unrelenting Customer Focus - A highly committed sales force, with customer satisfaction as
the key driving force - a major differentiator

Transparency in Services - Daily declaration of fund performances, regular performance

benchmarking, well regulated asset management, and monthly newsletter on market updates

Weakness

Like every individual Kotak also has weakness along with strengths. Some
of its weaknesses are-

 Its costly products due to which they are out of reach of lower middle
and lower income group.

 Less number of its own ATM so the customers of edge account who
can access the ATMs of Kotak and HDFC have to suffer.

 Its less number of branches due to which customer face problems.

  As it is not very old bank so they don’t provide credit limit to the
customers of current account.

 It do not follow a good promotional strategy as it has very less

number of hoardings and banners in the market.

Opportunities

Some of the opportunities for kotak are as follows-

 Scalability through increased brand awareness, market penetration and service offerings
across all categories of financial services.

 Increase in customer’s wallet share.

 Leveraging the latest technology for providing quality and client

centric services

Threats

Though Kotak has many strengths and opportunities but it is

susceptible to various threats also. They are-

 Kotak has many competitors who are equally strong at products

and customers. This can be termed as intensity of rivalry.

 It also has the threat of entrance of new companies

 Oil prices and rising inflation

 Increasing interest rate scenario

  Competition from local and multinational players

 Changing global financial markets

Vision of Kotak Life Insurance

Kotak Life Insurance has a deep rooted commitment to improve the quality of life of its
customers, employees and stakeholders. We aim at improving the long term value in our
relationship by continuous innovation and improvements.We do this by our three-prong effort
which strives to make Kotak Life Insurance a corporate with values.

Increase Customer Value

Kotak Life Insurance has gone to the heart of its customer's requirements and developed products
which are unique and serve the customer needs perfectly. We built a relationship of mutual trust
and benefit to serve the Indian customer. At Kotak Life Insurance the customer always comes
first.

Cohesive Work Environment

We form long-term partnership with our employees by offering them an invigorating work
experience. We not only demand loyalty, sincerity and values but also give it back in equal
measures. Kotak Life Insurance will like to offer its employees space to grow, innovate and build
a long-term career.

Work with Honour

Kotak Life Insurance delivers everyday services in the marketplace with the high sense of duty
and commitment. Our employees strive to build the long-term value for all those come in contact
with Kotak Life Insurance. Our consumers, distributors, employees, shareholders and the nation
have our commitment that we will uphold the values of trust, integrity and a Sense of Honour in
every thought, act and deed in order to positively contribute to individual, society and nation
growth.
 Mission:

We focus on the needs of our customers and create confidence, trust and loyalty by offering a
wide range of innovative insurance solutions.
Strengthened by our commitment to professional management, we ensure the continued growth
and advancement of our employees.

FUTURE PROSPECTS

As more and more private players enter the field of life insurance and the
competition between them intensifies, the Company expects itself to be

amongst the first five private life insurers of the country in terms its products
and services. Over the past year, the Company has moved forward from

offering simple life insurance solutions to providing complex retirement

solutions. The Company is also entering the vista of investment assurance

through its unit-linked product, the Kotak Safe Investment Plan. It proposes
to focus on developing more innovative products and focusing on sales

of its unit-linked product and mass-market products.

 BALANCE SHEET

(Rs in Crores)
Mar '04 Mar '05 Mar '06 Mar '07 Mar '08

12 mths 12 mths 12 mths 12 mths 12 mths

Capital and Liabilities:

Total Share
Capital 59.53 123.32 309.29 326.16 344.67

Equity Share
Capital 59.53 123.32 309.29 326.16 344.67

Share
Application
Money 0 0 0 0 0

Preference
Share
Capital 0 0 0 0 0

Reserves 546.78 633.61 555.3 1,335.77 3,249.04

Revaluation
Reserves 0 0 0 0 0

Net Worth 606.31 756.93 864.59 1,661.93 3,593.71

Deposits 4,459.34 4,299.54 6,565.92 11,000.09 16,423.65

Borrowings 511.63 985.51 1,609.23 5,099.75 5,119.25

Total Debt 4,970.97 5,285.05 8,175.15 16,099.84 21,542.90

Other
Liabilities &
Provisions 239.68 470.89 1,135.38 2,153.65 3,175.75

Total 5,816.96 6,512.87 10,175.12 19,915.42 28,312.36

Liabilities

Mar '04 Mar '05 Mar '06 Mar '07 Mar '08

12 mths 12 mths 12 mths 12 mths 12 mths

Assets

Cash &
Balances
with RBI 126.85 238.73 418.8 751.22 1,710.29

Balance with
Banks,
Money at
Call 551.57 181.66 173.71 544.75 439.18

Advances 2,097.02 4,017.14 6,348.54 10,924.07 15,552.22

Investments 2,882.77 1,826.97 2,855.53 6,861.96 9,141.99

Gross Block 134.46 168.57 205.28 273.57 391.42

Accumulate
d
Depreciation 49.2 71.47 100.05 132.48 181.17

Net Block 85.26 97.1 105.23 141.09 210.25

Capital
Work In
Progress 0 0 0 0 0

Other Assets 73.48 151.26 273.31 692.33 1,258.43

Total Assets 5,816.95 6,512.86 10,175.12 19,915.42 28,312.36

 CHAPTER III

PRESENTATION OF DATA
 RESEARCH METODOLOGY

Research always starts with a question or a problem. Its purpose is to question through the
application of the scientific method. It is a systematic and intensive study directed towards a more
complete knowledge of the subject studied. Marketing research is the function which links the
consumer, customer and public to the marketer through information- information used to identify
and define marketing opportunities and problems generate, refine, and evaluate marketing
actions, monitor marketing actions, monitor marketing performance and improve understanding
of market as a process.

Marketing research specifies the information required to address these issues, designs, and the
method for collecting information, manage and implemented the data collection process, analyses
the results and communicate the findings and their implication.

I have prepared our project as descriptive type, as the objective of the study demands the answers
of the question related to find the potentiality of life insurance industry.
THE MARKETING RESEARCH PROCESS

As marketing research is a systemic and formalized process, it follows a certain sequence of

research action. The marketing process has the following steps:

 Formulating the problems

 Developing objectives of the research

 Designing an effective research plan

 Data collection techniques

 Evaluating the data and preparing a research report

There are two types of data collection method use in my project report.

– Primary data

– Secondary data.

For my project, I decided on primary data collection method for observing working of
company and approaching customers directly in the field, tele-calling, cold calling, campaigning
and through references to know their interest in business with company in my project and also
make questionnaire for creating database of business class people for company.

I decided on Secondary data collection method was used by referring to various websites,
books, magazines, journals and daily newspapers for collecting information regarding project
under study.
DATA COLLECTION

After the research methodology, research problem in marketing has been identified and
selected; the next step is together the requisite data. There are two types of data collection method
– primary data and secondary data.

In our live project, we decided primary data collection method because our study nature
does not permit to apply observational method. In survey approach we had selected a
questionnaire method for taking a customer view because it is feasible from the point of view of
our subject & survey purpose. We collected sample of 100 people for the survey.
 CHAPTER IV

FINDING, CONCLUSION &

SUGGESTION
ANALYSIS & INTERPRETATION OF DATA

AGE No Of Members
18-25 11
26-30 22
31-45 44
46 to above 23
Gender No of Member
 MALE 66
FEMALE 34

Family member No of Member

2-4 40
5-8 48
8 to above 12
 Income No of Members
40K -70K 17
70K-1 Lake 41
1 Lake to 3 Lakes 28
3 Lacks 14
 Insurable Member Uninsurable member
42% 58%

Only 42%people have insurance in Lucknow so it is potential for

insurance company to capture to all that market.

 Having insurance No of members
Self 40
Spouse 28
Children 21
Parents 18
All 11

Among that 42% people who are having insurance, they have insurance 40% for self 28%for
spouse 21% for children and 18% for their parents and 11% for all family member.

Different policy bought bye customers

35
LIC

30 ICICI

Birla
25 sr Sunlife
e SBI
m
o
20 ts
u HDFC
C
fo
15 .o Bajaj
Alliance
N TATA
10 AIG
Kotak
Mahindra
5
ING
Vyasya
0 Max
Term Plan Endowment Whole life Money Retirement Child Plan Unit Link Newyork
Back Plan
Different Plans Met Life
 Poten tial of life in su rance

Under Insured
82% Fully Insured
18%
Under insurable persons Fully insurable persons
82% 18%

Only 42 % people having life insurance but among them 82%

people are underinsured and only 18% people are fully insured
according to their income.

Market share of dif frent Insurance plan

Unitlink plan
24%
Child Plan
8%

Endownm ent Plan

15%

Term Plan
39% Moneyback Pla n
14%
Insurance Plan Market Share
Term Plan 39%
Money back Plan 14%
Endowment Plan 15%
Child Plan 8%
Unit link Plan 24%

Finding and Suggestion

 According the survey only 42% people are insured in Lucknow so reaming other part is
potential for insurance sector.

 Among that 42% people who are having insurance, they have insurance 40% for self
28%for spouse 21% for children and 18% for their parents and 11% for all family
member, also its very help full for insurance sector so they should take necessary step for
capture this potential.

 Only 42% people having insurance in Lucknow in that 42% there are 82 % people are
under insured and other 18% people are fully insured according to their income so that is
also plus point for insurance sector to capture the market
 Limitation:

Some of the difficulties and limitations faced by me during my training

are as follows:

 Lack of awareness among the people – This is the biggest

limitation found in this sector. Most of the people are not aware about
the importance and the necessity of the insurance in their life. They
are not aware how useful life insurance can be for their family
members if something happens to them.
 Perception of the people towards Insurance sector –
People still consider insurance just as a Tax saving device. So today
also there is always a rush to buy an Insurance Policy only at the end
of the financial year like January, February and March making the
other 9 months dry for this business.

 Insurance does not give good returns – Still today people

think that Insurance does not give good returns. They are not aware of
the modern Unit Linked Insurance Plans which are offered by most of
the Private sector players. They are still under the perception that if
they take Insurance they will get only 5-6% returns which is not true
nowadays. Nowadays most of the modern Unit Linked Insurance
Plans gives returns which are many times more than that of bank
Fixed deposits, National saving certificate, Post office deposits and
Public provident fund.

 Lack of awareness about the earning opportunity in the

Insurance sector – People still today are not aware about the earning
opportunity that the Insurance sector gives. After the privatization of
the insurance sector many private giants have entered the insurance
sector. These private companies in order to beat the competition and
to increase their Insurance Advisors to increase their reach to the
customers are giving very high commission rates but people are not
aware of that.
  Increased competition – Today the competition in the
Insurance sector has became very stiff. Currently there are 14 Life
Insurance companies working in India including the LIC (life
insurance Corporation of India). Today each and every company is
trying to increase their Insurance Advisors so that they can increase
their reach in the market. This situation has created a scenario in
which to recruit Life insurance Advisors and to sell life Insurance
Policy has became very very difficult.

Conclusion

 All the insurance company must advertise more in the market because not all people
know more about life Insurance policy.

 Most number of people wants Guaranteed Returns so company must focus on this for the
customer investment.
 Make insurance policy which can buy any one so we can insured them through this type
of life insurance policy.

BIBLIOGRAPHY

In order to obtain more information regarding the present study and to substantiate it
with theoretical proof, the following references were made: -

Insurance chronicle, January 2006 Special issue “Insurance Industry 2006”.

 Banking Service operation (ICFAI Publication)

Business strategy (ICFAI Publication)

Business law (ICFAI Publication)

Websites visited:

www.kotaklifeinsurance.com

www.google .com

www.iba.com

www.kotak.com

www.rbi.com

www.icici.com

www.bajajallianz.com

ANNEXURE

Questionnaire

1)Name ______________________________

2) Age
 o 18-25
o 26 to 30
o 31 to 45
o 46 to above

3) Gender

o male
o female

4) Occupation:

o Service

o Business

o Professional

o Other
5) Family member
o 2 to 4
o 5 to 8

o 8 to above

6) What is your annual income?

o 40 K to 70 K

o 70 K to 1 lake

o 1 lake to 3 lakes

o 3 lakes to above

7) Do u have a life insurance?

o Yes

o No

If yes,
Which is it?
Company’s Term Endow Whole Money Retire Child Unit
name plan ment life back ment link
Plan
Plan
LIC
ICICI
Prudential
Birla Sunlife
SBI Life
HDFC
Standard
Life
Bajaj
Alliance
TATA AIG
Kotak
Mahindra
ING Vysya
Max
Newyork
Met Life
Reliance
Shri Ram
Sahara