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INTRODUCTION
1.1 Introduction about Investors attitude towards life insurance with special
reference to ICICI PRUDENTIAL LIFE INSURANCE:
INVESTOR:
An investor is a person who allocates capital with the expectation of a financial
return. The types of investments include, gambling and speculation, equity, debt,
gold, Securities, insurance, real estate, currency, commodity, derivatives such as put and
call options, etc. This definition makes no distinction between those in the primary and
secondary markets. That is, someone who provides a business with capital and someone
who buys a stock are both investors. Since those in the secondary market are considered
investors, speculators are also investors.
INVESTOR PROTECTION:
The term investor protection defines the entity of efforts and activities to
observe safeguard and enforce the rights and claims of a person in his role as an investor.
This includes advice and legal action. The assumption of a need of protection is based on
the experience that financial investors are usually structurally inferior to providers of
financial services and products due to lack of professional knowledge, information or
experience. Countries with stronger investor protections tend to grow faster than those
with poor investor protections.
ATTITUDE:
An attitude is an expression of favor or disfavor toward a person, place, thing, or
event (the attitude object). Prominent psychologist Gordon All port once described
attitudes "the most distinctive and indispensable concept in contemporary psychology.
Attitude can be formed from a person's past and present. Attitude is also measurable and
changeable as well as influencing the person's emotion and behavior.


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DEFINITIONS:
GENERAL DEFINITION:
In the words of John Magee, Insurance is a plan by themselves which large
number of people associate and transfer to the shoulders of all, risks that attach to
individual
FUNDAMENTAL DEFINITION:
In the words of D.S. Hansel, Insurance accumulated contributions of all
parties participating in the scheme.
CONTRACTUAL DEFINITION:
In the words of justice Tindall, Insurance is a contract in which a sum of money
is paid to the assured as consideration of insurers incurring the risk of paying a large sum
upon a given contingency.
INVESTOR ATTITUDE TOWARDS INSURANCE
The research is undertaken to know the investors attitude towards life insurance
products and to create awareness about insurance and suggest them to undertake
insurance schemes to get future benefits. This also studies about products given by ICICI
Prudential life insurance to the investment planning of consumers.
Insurance may be described as a social device to ensure protection of economic
value of life and other assets. Under the plan of insurance, a large number of people
associate themselves by sharing risks attached to individuals. The risks, which can be
insured against, include fire, the perils of sea, death and accidents and burglary. Any risk
contingent upon these, may be insured against at a premium commensurate with the risk
involved. Thus collective bearing of risk is insurance. Insurance is a contract whereby, in
the financial losses suffered by the insured as a result of the occurrence of unforeseen
events. The term "risk" is used to describe the possibility of adverse results flowing from
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any occurrence or the accidental happeni ngs , whi ch produce a monetary loss.
Insurance is a pool in which a large number of people exposed to a similar risk make
contributions to a common fund out of which the losses suffered by the unfortunate few,
due to accidental events, are made good. The sharing of risk among large groups of
people is the basis of insurance. The losses of an individual are distributed over a group
of individuals.
1.2 REVIEW OF LITERATURE
As of consumer research panel march 2006 Purchasers of products included in
the module were asked how condent they were that they had all the information and
advice needed when buying the product. The level of consumer condence was very
high, with 45% saying they were very condent and 49% fairly condent in relation
to their Recent product purchase. This left only 5% who had any signicant doubts about
whether they had all the information they needed. There were no differences by product
type or FSA-regulation.
Consistent with these ndings, nearly all respondents expressed condence that
the product purchased was suitable for their needs, and virtually all were satised with
the overall purchase process. Compared with other product purchases, consumers were
happiest in relation to mortgage purchase and least happy in relation to pension
purchase.
As per Hemanth CRpatna(2003) Indian investment community have shown
much interest in investing in insurance available in the market due to the spiraling growth
of GDP, better performance by the companies, liberal rules and regulations by SEBI to
protect the investors interest and this process will go much more quicker in future.
As per HRIHE Hassan (2005) women are consecutive investors and they feel
that safeguarding what they have is top priority. These investors want to avoid risk
particularly risk on principal that is the original investment even that it means they have
to settle for very modest returns invested in insurance.
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As per vinoth S(2013) it found that majority of the women workers like to
invest in life insurance policies, money bank assurance policy is the kind of policy among
women and savings and tax benefit are the main reason to invest in life insurance. . The
working womens are not fully aware about the Life insurance investments and its
benefits, even though they become bank employees. On the basis of the observations of
the respondents, the life insurance companies must take steps to educate and to increase
the policy holders from the working womens. Meantime the insurance advisors can also
spread the benefits out of the life insurance investments among the working womens.
Based on the effective steps from Insurance Companies, we can also anticipate wide
range of investments from working womens in the life insurance.
As per Janice Burns and Maire Dwyer (2007) Research informants and broader
conversations in the course of this project suggest that the necessity to choose a Kiwi
saver provider is leading people, often previously uninformed or unfamiliar with the
financial industry, to investigate and discuss their options. This is likely to increase
financial literacy, beyond that of basic numeracy, and create greater familiarity with non-
property investment products that may be of advantage in any subsequent investment or
savings decisions. All interviewees were aware of Kiwi saver and most were actively
considering their options. The opportunity for structured or contractual savings Seems
appealing.
The consumers interviewed seemed to know that investment involves risks that
can be reduced but not eradicated. Those who had chosen to invest in property often cited
lower risk as a key consideration. Perceptions of relative risk may be currently informed
or reinforced by reported instability and volatility in worldwide markets and the seeming
lack of control New Zealand investors have over these movements. This may confirm
property as the low risk option.
Management ISSN 2249-5908 Issue2, Vol. 2 (2012)
The study shows that most of respondents are still confused about the insurance
and have not formed any attitude towards the life insurance products for investment
purpose. It has been observed that most of the respondents having lack of awareness
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about the various function of insurance. Moreover, as far as the demographic factors are
concerned, gender, income and level of education have significantly influence the
investors attitude towards insurance. On the other hand the other two demographic
factors like age and occupation have not been found influencing the attitude of investors
towards mutual funds. As far as the benefits provided by mutual funds are concerned,
return potential and liquidity have been perceived to be most attractive by the invertors
followed by flexibility, transparency and affordability.
1.3 INTRODUCTION TO THE STUDY
1.3.1 Objectives of the study
To know the awareness of life insurance on investors
To know the investors planning on investment.
To study about the investors attitudes towards life insurance products.
1.3.2 Need of the study
The financial market became more sophisticated and complex, this study is to give
idea to the company how to attract the consumers and thereby inducing consumers
to invest in life insurance.
This study is to analyze the interest towards the life insurance and to know, check,
are the consumers aware of life insurance.
Life insurance is a unique investment that helps you to meet your dual needs-saving
for lifes important goals, and protecting your assets.
1.3.3 SCOPE OF THE STUDY
The study is for the products of ICICI Prudential Life Insurance and to know the
investors attitude towards life insurance.
The research gives the good opportunity for the investors(consumers) to invest in
life insurance and gives ideas to company to attract consumers.



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1.3.4 Limitations
The time is not sufficient to meet all the investors.
Respondents suggestions may or may not be correct.
Factors considered in the questionnaire may or may not be Sufficient.
Sample size is too low to get the proper information.
As many customers are not willing to give their opinions, we are unable to get
Proper information.















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CHAPTER-II
INDUSTRY PROFILE AND COMPANY PROFILE
2.1 INDUSTRY PROFILE
Origin of life insurance
Life Assurance was born in England when the first policy providing temporary
cover for a period of 12 months was issued as easy as 1583 A.D. The Amicable Society
started granting fluctuating sum on death since 1705 and a fix sum since 1757, with the
development of mortality tables, the life Assurance acquired a scientific character.
The Equitable Society founded in 1762 was the first Society established on
scientific basis.
Origin of life assurance in India
In India, after failure of two British companies, the European and the Albert in 1870,
which attempted writing business on Indian lives, first Indian Life Assurance Society was formed
in the same year called Bombay Mutual Assurance Society Ltd. It was followed by the Oriental
Life Assurance Company Limited in 1874, Bharat in 1896and Empire of India in 1897. The Idea
of insurance was born out of a desire of the people to share loss of an individual by many.
Originally it restricted to forms other than life assurance. It started with Marine Insurance, where
the losses on account of perils of sea were shared by all who were engaged in trade. Reference to
some forms of insurance, is found in the codes of Hammurabi, Manu (Manna Dharma
Shasta).The word `Yogakshema is used in the Rig Veda suggesting that some form
of community insurance was practiced by the Aryans in India over 3000 years ago. In India
during Buddhist period burial societies existed which were mutual in their character and used to
help a family by building a house, protecting the widow, marrying the girls. The Swadeshi
Movement of 1905 provided impetus to the formation of several companies such as the
`Hindustan Cooperative, the `United India, the `Bombay Life, the `National. Further in the
wake of freedom movement number of companies such as the `New India, the `Jupiter the
`Lakshmi emerged. The Government began to exercise a certain measure of control on
insurancein 1912. For controlling investment of funds,expenditure and management, a comprehen
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sive Act was passed known as `The Insurance Act 1938.For controlling the affairs, the office
of Controller of Insurance was established. The act was extensively amended in 1950.

In the year 1955, approximately 170 Insurance Offices and 80 Provident FundSoc
ieties had been registered for transacting Life Assurance business in India. There were,
however, no full guarantees to the policyholders. The concept of trusteeship was lacking.
Many insurance companies went into liquidation. There were malpractices in insurance
business. For achieving the following purposes it was felt necessary to nationalize the
insurance business in India. To provide security to the policyholders
To utilize the funds for nation-building activities.
To avoid cut throat competition
To abolish mal-practices
To spread the insurance message to the rural areas.
The first step in this direction was taken by the Government of India by issuing
the Life Insurance (the Emergency provisions) Ordinance, 1956 on 19
th

January,1956.The then Finance Minister, Shri C. D. Deshmukh mentioned the purpose of
nationalization as reaching the goal of socialistic pattern of society, rendering genuine
service to the people in the rural area. The Life Insurance Corporation Act (Act XXXI of
1956) was passed by the Parliament in June 1956 which came in force on 1st July1956.
The Life Insurance Corporation of India came into existence on 1st September 1956.
Insurance Sector Reforms
Having looked at the insurance sector, let us look at the efforts made by the government
to make the industry more dynamic and customer friendly. To begin with, the Malhotra
committee was set up with the objective of suggesting changes that would achieve the
much required dynamism
The Malhotra Committee Report
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor
R. N. Malhotra, was formed to evaluate the Indian insurance industry and recommend its
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future direction. In 1994, the committee submitted the report and gave the following
recommendations:

Structure
1. Government stake in the insurance Companies to be brought down to 50%
2. Government should take over the holdings of GIC and its subsidiaries so that
these subsidiaries can act as independent-corporations.
3. All the insurance companies should be given greater freedom to operate
4. Market Regulations
5. Private Companies with a minimum paid up capital of Rs.1bn should be allowed
to enter the industry.
6. No Company should deal in both Life and General Insurance through a single
entity.
7. Postal Life Insurance should be allowed to operate in the rural market
8. Only one State Level Life Insurance Company should be allowed to
operate in each state.
Regulatory Body
1. The Insurance Act should be changed
2. An Insurance Regulatory body should be set up
3. Controller of Insurance (Currently a part from the Finance Ministry)
should be made independent Investments
4. Mandatory Investments of LIC Life Fund in government securities to
be reduced from 75% to 50%
5. GI C and i t s s ubs i di ar i es ar e not t o hol d mor e t han 5% i n any
company ( Ther e current holdings to be brought down to this level over a
period of time)



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Potentiality of Insurance in Indian Market
By opening up the sector far more opportunities has came up in insurance and
reinsurance market. After privatization of this sector presence of the foreign players has
also increased. Therefore the insurers, in time to come, will have to change
their attitude from selling of the product to marketing of the protection needs of the
insured and for this is required is:
1. Effective product planning
2. Suitable pricing
3. Efficient promotion and physical distribution.
4. Proper physical evidence.
5. Good and well trained sales force.
6. Different Insurance Companies in India
In the present scenario the insurance sector is an upcoming sector. The insurance
sector got liberalized in 2000 after about 50 years. Insurance sector was once a monopoly
with LIC as the only company. But now the market opened up and large number of
insurance (private and public) has entered the Indian market. There are about 15 private
life insurance companies that have entered the sector. After their entry the market share
of LIC has considerably got reduced. The private companies have improves their market
share to 18% and able to expand their market growing at about 30% per annum. Private
players have made innovations in market channels, advertising of products, training
agents and employees in providing services to the consumers, opened outlets in rural
areas, creating awareness among people about insurance and its benefits.
The various private life insurers are
1. Aviva Life Insurance Co. India Pvt Ltd.
2. Bajaj Allianz Life Insurance Co. Ltd.
3. Bharti AXA Life Insurance Co. Ltd
4. Birla Sun Life Insurance Co. Ltd
5. HDFC Standard Life Insurance Co. Ltd
6. ICICI Prudential Life Insurance Co. Ltd
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7. IDBI Fortis Life Insurance Co. Ltd
8. ING Vysya Life Insurance Co. Ltd
9. Kotak Mahindra Old Mutual Life Insurance Ltd.
10. Max New York Life Insurance Co. ltd
11. Met Life India Insurance Co. Ltd
12. Reliance Life Insurance Co. Ltd
13. SBI Life Insurance Co. Ltd
14. Shriram Life Insurance Co. Ltd
15. Tata AIG Life Insurance Co. Ltd
The various other general insurance companies are
1. National Insurance Company Ltd
2. Reliance General Insurance
3. Oriental Insurance Company
4. United India Insurance Co. Ltd
5. New India Assurance Co. Ltd
6. Bajaj Allianz General Insurance Co. Ltd
7. ICICI Lombard General Insurance Ltd
Difference between Life Insurance and Non Life Insurance:
Two types of insurance people commonly purchase is
1) Life Insurance
2) General Insurance
Life insurance is a Non personal insurance contract. This means that the
policyholder and the person being insured do not have to be the same person whereas
General insurance is a personal contract where the insurance company contracts with you
directly for insurance protection.
Life insurance insures your life or the life of someone that you have an economic
interest in, like your spouse, children, siblings or business partners. When the insured
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individual dies, the life insurance policy pays a death benefit that is fixed. This is called a
valued contract. A valued contract pays a fixed sum of money, regardless of the nature of
the loss insured by the contract. General insurance insures homes, automobiles and other
personal property. This type of insurance is sometimes referred to as property and
casualty insurance. General insurance is indemnity insurance. Indemnity insurance pays
just enough money to you to repair or replace the insured property.
The benefit of life insurance is that it pays off any financial obligations you have
left after you die. It can pay more than that, however, because life insurance pays a fixed
amount. Death benefits can be used to create the wealth for the surviving beneficiaries.
General insurance is beneficial in that the insurance ensures that, almost regardless of the
damage done, that the property will be repaired or replaced. While general insurance
generally has a maximum payout determined by the value of your property, it does not
pay a fixed amount.
Indian Scenario of Insurance Sector:
The insurance sector was opened up for private participation with the enactment
of the Insurance Regulatory and Development Authority Act, 1999. While permitting
foreign participation in the ventures set up by the private sector, the government
restricted participation of the foreign joint venture partner through the FDI route to 26 per
cent of the paid-up equity of the insurance company. The objective of the liberalization
was to expand the scope and ambit of Insurance both Life and General in India.
Since opening up, the number of participants in the sector has gone up from six
insurers (including the Life Insurance Corporation of India, four public sector general
insurers and the General Insurance Corporation (GIC) as the national re-insurer) in the
year 2000 to 37 insurers operating in the life, non-life and re-insurance segments as on
December 2007. This includes specialized insurers, viz., Export Credit Guarantee
Corporation; Agricultural Insurance Company and two health insurance companies. Of
the 17 life insurance companies, as many as 15 are in joint venture with foreign partners.
Of the 10 insurers which have been set up in the non-life segment, 9 are in collaboration
with the foreign partners.
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In addition, two stand-alone health insurance companies have been set up in
collaboration with joint venture foreign partners. 26 insurance companies in the private
sector have been granted registration in the country in collaboration with established
foreign insurance companies from across the globe. In the Life Insurance segment, the
total premium underwritten by the industry has grown from Rs. 1, 56,041 crore in 2006-
07 to Rs2, 61,025 crores during 2009-2010. The private life insurance industry premium
continued to rise in FY 2009-2010 which surged to 33% from 29.08% in FY 2008-
2009.Some estimates show that India is the fifth-largest country in Asia in terms of total
insurance premium.
Out of 78 per cent Indian households that are aware about life insurance, only 24
per cent own a policy. A combined ICICI Prudential Life Insurance and IMRB survey,
conducted in three metros Delhi, Mumbai and Chennaishows that households with
income of Rs. 35000 on an average have two policies. Further, 79 per cent people prefer
life insurance over other tax saving instruments like post office savings, Equity-Linked
Saving Schemes and fixed deposits.
Since end of 2000 when insurance was privatized, Life Insurance Company and
The distribution network expanded significantly. In the second quarter of fiscal 2008-09
1480 branches were added including 1293 branches set up by private sector life insurers.
During this period the life industry added 53332 employees to their payrolls. The number
of pay-roll employees now crossing over 300,000. Of the total 10,037 branches of life
insurance companies around 7,000 are in semi urban and rural areas. The total premium
of all insurance companies taken together aggregated to Rs 86,500 crore in the first half
of current fiscal.
According to ICRA, the regulatory system has several impacts on the India
Insurance sector. IRDA was set up with introduction of the IRDA Act in 1999. Its initial
purpose was to bring about general discipline to the industry. It is responsible for
protecting the interest of policy holders and promoting efficiency in the insurance
business.
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To ensure their stability, transparency and financial strength, new entrants are
subject to rigorous scrutiny and the conduct of their business is closely monitored,
particularly in relation to capital adequacy and prudent investment policies. The
regulatory environment to date has attracted many insurers whose domestic partners are
leaders in their chosen fields and their foreign counterparts are all well-established with
considerable experience in developed and emerging markets.
The regulator has laid down investment guidelines that limit exposure in certain
class of assets and also sets threshold limits for some assets. At the moment, insurers
have to invest a minimum 30% in government securities, in contrast to some of the more
mature markets like the US and Australia, which do not have such restrictions.
Compliance with these relatively restrictive guidelines could limit insurers ability to
diversify and build optimal portfolios.
The Indian insurance regulator has set the minimum capital required at a level to
ensure that all insurers especially the start-ups have enough funds to meet their claim
obligations and to limit their overall writings to the amounts supported by their capital
bases. The need to manage capital to comply with IRDAs solvency margin will induce
insurers to be more risk conscious when taking on new business .
With a huge population base and large untapped market, insurance industry is a
big opportunity area in India for national as well as foreign investors. India is the fifth
largest life insurance market in the emerging insurance economies globally and is
growing at 32-34% annually. This impressive growth in the market has been driven by
liberalization, with new players significantly enhancing product awareness and
promoting consumer education and information. The strong growth potential of the
country has also made international players to look at the Indian insurance market.
Moreover, saturation of insurance markets in many developed economies has made the
Indian market more attractive for international insurance player. Total life insurance
premium in India is projected to grow Rs 1,230,000 Crore by 2010-11. A booming life
insurance market has propelled the Indian life insurance agents into the top 10 country
list in terms of membership to the Million Dollar Round Table (MDRT) an exclusive
club for the highest performing life insurance agents.
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Market Players Along With Market Shares
The top 5 private life insurance companies in India are,
ICICI Prudential Life Insurance
Bajaj Allianz
SBI Life [Part of the SBI group, though no direct interference of Govt of India]
HDFC Standard Life
Reliance Life


Figure 1: Market Share of Life Insurance Companies
Source: IRDA (depending upon number of policies as on 2010-11

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Figure 2: Pie Chart of Life Insurance Companies
Source: http://freepress.in/insurance/market-share-of-all-life-insurance-companies-india/

Figure 3: Weighted Business Premiums of Life Insurance Companies
Source:http://www.towerswatson.com/india/newsletters/india-market-life-nsurance/4263




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2.2 COMPANY PROFILE
INTRODUCTION:
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a
premier financial powerhouse and prudential plc, a leading international financial
services group headquartered in sector insurance companies to begin operation in
December 2000 after receiving approval from Insurance Regulatory Development
Authority (IRDA).
ICICI Prudentials equity base stands at RS.9.25 billon with ICICI Bank and
prudential plc holding 74% and 26% stake respectively. In the financial year ended
March 31, 2005, the company garnered RS 1584 Core and wrote nearly 615000 polices.
The company has a network about 56000 advisors;
As well as 7 bank assurance and 150 corporate agent tie ups. For the post four
years, ICICI prudential has retained its position as the no 1 Private Life Insurers in the
country, with a wide range of flexible products that meet the needs of the Indian customer
at every step in life.

VISION
Company vision:
To make ICICI prudential the dominant Life and pensions player built on trust by
world class people and service.
The company hopes to achieve by:
Under the needs of customers and offering them superior products and services.
Leveraging technology to service customers quickly, efficiently and conveniently.
Developing and implementing superior risk management and investment
strategies to offer sustainable and stable returns to our policy holder.
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Providing an enabling environment to foster growth and learning for our
employees.
And above all, building transparency in all our dealings.
The success of the company will be founded in its unflinching commitment to 5 core
values Integrity, customer first, Boundary less, Ownership and passion. Each of the
values describes what the company stands for, the qualities of our people and the way we
work.
We do believe that we are on the threshold of an exciting new opportunity, where
we can play a significant role in redefining and reshaping the sector. Given the quality of
our parentage and the commitment of our team, there are no limits to our growth.

THE COMPLETE BANK
ICICI Bank
ICICI Bank (NYSE:IBN) is Indias second largest bank with an asset base of
RS.106812 core. ICICI Bank provides a broad spectrum of financial services to
individuals and companies. This includes mortgages, car and personal loans, credit and
debit cards, corporate and agricultural finance. The Bank services growing customer base
of more than 7 million customer accounts and 5 million bondholders accounts through a
multi channel access network. This includes about 450 branches and extension
counters, 1675 ATMs, call centers and internet banking (www.icicibank.com). ICICI
Bank posted a net profit of RS.1, 206 cores for the year ended March 31, 2003. ICICI
bank is the only Indian company to be rated above the country rating by the international
rating agency Moodys and the only Indian company to be awarded an investment credit
rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading Indian
rating agencies.


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Prudential Plc
Established in 1848, prudential plc is a leading international financial services
company in the UK, with around US$250 billion funds under management and more than
16 million customers worldwide. Prudential has brought to market an integrated range of
financial services products that now includes life assurance, pensions, mutual funds,
banking, investment management and general insurance. In Asia, prudential is UKs
largest life insurance company with a vast6 network of 22 life and mutual fund operations
in twelve countries China, Hongkong, India, Indonesia, Japan, Korea, Malaysia,
Philippines, Singapore, Taiwan, Thailand and Vietnam. Since 1923, prudential has
championed customer centric products and services, supported by over 60,000 staff and
agents across the region.
Distribution:
ICICI prudential has one of the largest distribution networks among private life
insurance in India, having commenced operations in 69 cities and towns in India, they are
Agra, Ahmadabad, Ajmer, Allahabad, Amritsar, Aurangabad, Bangalore, Bareilly,
Bhatinda, Bhopal, Bhubaneswar, Calicut, Chandigarh, Chennai, Coimbatore, Dehradun,
Durgapur, Faridabad, Goa, Guntur, Gurgaon, Guwahati, Hyderabad, Hubli, Indore,
Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kochi, Kolkata,
Kolhapur, Kota, Kotayam, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mumbai,
Mysore, Nagpur, Nasik, Nodia, New Delhi, Patiala, Pune, Raipur, Rajkot, Ranchi,
Rourkela, Shimla, Siliguri, Surat, Thane,Thrissur, Trichy, Trivandrum, Udaipur,
Vadodara, Vapi, Varanasi, Vashi, Vijayawada and Vizag.
The company has seven bank assurance tie-ups, having agreements with ICICI Bank,
Federal Bank, south India Bank, Bank of India, Lord Krishna Bank and some co-
operative banks, as well as over 160 corporate agents and brokers. It has also tied up with
organizations like Dhan for distribution of salaam Zindagi, a policy for the socially and
economically underprivileged sections of society.

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PRODUCTS
wealth plans
Child plan
Sum assured term plan
Retirement plan
ICICI prudential life insurance offers a range of innovative, customer-centric
products that meet the ends of customer at every life stage. Its 20 products can be
enhanced with up to 6 riders, to create a customized solution for each policyholder.
Savings Solutions:
Secure plus is a transparent and feature-packed savings plan that offers 3 levels of
protection.
Cash plus is a transparent, feature-packed savings plan that offers 3 levels of
protection as well as liquidity options.
Save and protect is a traditional endowment savings plan that offers life protection
along with adequate returns.
Invest Shield Gold is a Market linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with limited premium
payment terms.
Protection plan:
We all hope to live a full life till a ripe old age to ensure our childrens
sustenance and healthy growth. But if a sudden disability or illness strikes? Besides the
grief and the plan, such an event also completely disrupts life for all the people who are
financially dependent on us. Our life insurance policies offer a comprehensive range of
protection benefits.
Life Guard- A low cost of high protection plan that offers protection over a specified
period.
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Riders- Additional benefits that one can add on to the policy. The rider can be opted for
at the time of talking the basic policy. Additional premium is charged for each rider.
An insurance policy can be tailor made to provide protection to you and your loved ones.
If something were to happen to you, it can help:
Safeguard your better half: ensure lifes continuity for your loved one.
Dear and near ones: ensure your childrens education continues undisrupted.
UN for seen circumstances: bear the cost of fighting an illness, disability, etc.
Child plan:
As a responsible parent, you will always ensure a hassle-free, successful life for
your child. However, life is full of uncertainties and even the best laid plans go wrong.
Heres how you give your child a 100% safe and assured tomorrow, whatever the
uncertainties. Smart kid child plans are designed to provide flexibility and to safeguard
your childs future education and lifestyle, taking all possibilities into account.
Presenting Smart Kid Child plans.
Leave nothing to chance Smart Kid Child plan offers three products:
Unit-Linked Regular Premium II
Unit Linked Single Premium II
Regular Premium Smart Kid.
Retirement Plan:
Most of you picture yourselves enjoying the fruits of labor after retirement, going on your
dream vacation, or helping your childrens career take wing. But do you realize that
financing all this will most likely depend partly on your personal saving? Because
personal savings and investment represent a significant source of retirement income for
many people, you can never save too much.

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To maintain your lifestyle need for as long as you live.
Life Time Pension II:
A regular premium linked deferred pension plan that gives you the freedom to
choose the amount of premium, and invest in market-linked funds, to generate potentially
higher returns.
Secure plus pension: A regular premium deferred pension plan that gives you the
flexibility to choose between 3 levels of sum assured for the same level of total annual
contribution.
Life Link Pension II:
A single premium linked deferred pension plan that gives you the freedom to choose the
amount of premium,
And invest in market-linked funds, to generate potentially higher returns.
Forever Life:
A regular premium deferred pension plan that helps you save for your retirement
while providing you with life insurance protection.
Depending on your specific need our retirement solutions give you the:
Power to choose the retirement date
Power to choose the potential level
Power to increase your investments
Power to investment in a plan based on your priorities
Power to receive you pension in 5 different ways
Power to choose your annuity provider
Power to add-on flexible riders at a nominal extra premium



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2.3. ORGANIZATIONAL STRUCTURE








MR.Nimesh shah
(MD& CEO)
MURLI
IYER
(Country
Head
Sales)
MARKET
AND
PROMOT
ION
DEPART
MENT
UNDER
WRITING
DEPART
MENT
FUND MANAGER
Mr.S.Naren
North
Zonal
Support
Manager
South
Zonal
Support
Manager
East
Zonal
Support
Manager
West
Zonal
Support
Manager
PRODUC
T
DEVELOP
MENT
24

CHAPTER III
RESEARCH METHODLOGY
Research
Research methodology is a way to systematically solve the research problem. It
may be understood as a science of studying how research is done scientifically. So, the
research methodology not only talks about the research methods but also considers the
logic behind the method used in the context of the research study.
3.1 Research design:
Research Design is the conceptual structure within which research is conducted.
It constitutes the blueprint for collection, measurement and analysis of data. The design
used for carrying out this research is Descriptive.
Descriptive research design
The name itself reveals that, it is essentially a research to describe something.
Example: it can describe the characteristics of a group such as-customers, organizations,
markets etc. Descriptive research provides association between two variables like
income and place of shopping, age and preferences.
3.2 Data collection:
In this research the type of data collection is
Primary data
Secondary data
Primary sources
The sources of collection of primary data are:
Questionnaire
25

Secondary sources
The sources of collection of secondary date are:
Books
Websites
Magazines
Brochure
3.3 Sample size and sampling method
It is very difficult to collect information from every member of a population .As
time and costs are the major limitation that the researcher faces.
A sample size of 50 individuals was selected on the basis of convenience
sampling technique. The individuals were selected and data were collected from them for
the research study.
3.4 Tools used for data analysis
1.PERCENTAGE
Percentage Analysis:
Percentage refers to special kind of ratio percentage are used in the
marketing comparison between two or more data. Percentage in used to describe
relationship. Since the percentage reduce everything to a common base and there by
allow meaningful comparison to be made.

No. of frequency
Percentage = --------------------------------*100
Total no of frequency
The collection data is analyzed with the help of pie charts& bar charts graph.
26

Pie Charts:
Pie chart is the pictorial representation of data. A pie chart is simple a circle
representing the whole quality. It is divided into slices of varied proportion depending up
on the data collection & when as whole totaled results.
Bar Charts:
It is graphically representation of discrete groups or categories of data. Show in
such a way that clear comparison can easily be made. Using this information, future
investing could follows to determine why the variation is occurring.














27

CHAPTER -IV
DATA ANALYSIS AND INTERPRETATION
TABLE 4.1
EDUCATIONAL QUALIFICATIONS OF RESPONDENTS

Particular Frequency Percent
Under Graduate 25 50.0
Post Graduate 15 30.0
Higher Secondary Course 8 16.0
Diploma 2 4.0
Total 50 100.0

Inference
From the table 4.1 it is clear that 25% of the respondents are Under Graduate
holder, 15% of the respondents are Post Graduate holder, 8% of the respondents are
Higher Secondary Course holder and 2% of the respondents are Diploma holder.
CHART 4.1.1

EDUCATIONAL QUALIFICATIONS OF RESPONDENTS

Educational Qualifications
Diploma Higher Secondary
Course
Post Graduate Under Graduate
P
e
r
c
e
n
t
50
40
30
20
10
0
Educational Qualifications
28


TABLE 4.2
OCCUPATION OF RESPONDENTS

Particular Frequency Percent
Salaried 7 14.0
Business 25 50.0
Professional 15 30.0
Dependants 3 6.0
Total 50 100.0


Inference
From the table 4.2, 7% of the respondents are Salaried, 25% of the respondents
are doing Business, 15% of the respondents are Professionalize and 3% of the
respondents are Dependents.
CHART 4.2.1
OCCUPATION OF RESPONDENTS


Occupation
Dependants Professional Business Salaried
P
e
r
c
e
n
t
50
40
30
20
10
0
Occupation
29


TABLE 4.3
MARITAL STATUS OF RESPONDENTS

Particular Frequency Percent
Married 22 44.0
Unmarried 15 30.0
Single 9 18.0
Widower 2 4.0
Divorced 2 4.0
Total 50 100.0

Inference
From the table 4.3, 22% of the respondents are Married 15% of the respondents
are Unmarried, 9% of the respondents are Single, 2% of the respondents are Widower,
2% of the respondents are Divorced.
CHART 4.3.1
MARITAL STATUS OF RESPONDENTS



Marital Status
5 4 3 2 1
F
r
e
q
u
e
n
c
y
25
20
15
10
5
0
Marital Status
30


TABLE 4.4
FAMILY INCOME OF RESPONDENTS

Particular Frequency Percent
<3 Lakhs 35 70.0
3 - 5 Lakhs 10 20.0
>5 Lakhs 5 10.0
Total 50 100.0


Inference
From the table 4.4, 35% of the respondents are having less than 3 Lakhs rupees as
annual income, 10% of the respondents are having 3 5 Lakhs rupees as annual income,
5% of the respondents are having greater than 5 Lakhs rupees as annual income.
CHART 4.4.1
FAMILY INCOME OF RESPONDENTS


Family Income
>5 Lakhs 3 - 5 Lakhs <3 Lakhs
P
e
r
c
e
n
t
60
40
20
0
Family Income
31


TABLE 4.5
INVESTMENT OF RESPONDENTS


Particular Frequency Percent
Investment with Life Insurance
30 60.0
Equity 2 4.0
Mutual Funds 3 6.0
Gold 11 22.0
Real Estate 4 8.0
Total 50 100.0

Inference
From the table 4.5, 30% of the respondents preferred Investment with Life
Insurance, 2% of the respondents preferred Equity, 3% of the respondents preferred
Mutual Funds, 11% of the respondents preferred Gold and 4% of the respondents
preferred Real Estate.
CHART 4.5.1
CHART 4.5.1 SHOWS INVESTMENT OF RESPONDENTS

Investment
Real Estate Gold Mutul Funds Equity Investment with Life
Insurance
P
e
r
c
e
n
t
60
50
40
30
20
10
0
Investment
32


TABLE 4.6

AWARENESS OF LIFE INSURANCE OF RESPONDENTS


Particular Frequency Percent
Yes 45 90.0
No 5 10.0
Total 50 100.0

Inference
From the table 4.6, 45% of the respondents are aware of Life Insurance and 5% of
the respondents are not aware of Life Insurance.

CHART 4.6.1

AWARENESS OF LIFE INSURANCE OF RESPONDENTS



Awareness of Life Insurance
No Yes
P
e
r
c
e
n
t
100
80
60
40
20
0
Awareness of Life Insurance
33


TABLE 4.7
BENEFITS OF LIFE INSURANCE PRODUCTS OF RESPONDENT


Particular Frequency Percent
Yes 35 70.0
No 15 30.0
Total 50 100.0


Inference
From the table 4.7, 35% of the respondents know about benefits of Life Insurance
Products and 15% of the respondents dont know about benefits of Life Insurance
Products.

CHART 4.7.1

BENEFITS OF LIFE INSURANCE PRODUCTS OF RESPONDENTS


Benefits of Life Insurance Products
No Yes
P
e
r
c
e
n
t
60
40
20
0
Benefits of Life Insurance Products
34


TABLE 4.8
INSURANCE POLICY DECISION IS INFLUENED BY OF RESPONDENTS


Particular Frequency Percent
Family 39 78.0
Friends 5 10.0
Professional and Trade Union Group
5 10.0
Brand and Advertisement 1 2.0
Total 50 100.0

Inference
From the table 4.8, 39% of the respondents insurance policy decision influenced
by their Family, 15% of the respondents insurance policy decision influenced by their
Friends, 8% of the respondents insurance policy decision influenced by their
Professional and Trade Union Group and 2% of the respondents insurance policy
decision influenced by Brand and Advertisement.
CHART 4.8.1
INSURANCE POLICY DECISION IS INFLUENED BY OF RESPONDENTS


Insurance Policy Decision is Influenced by
Brand and Advertisement Professional and Trade
Union Group
Friends Family
P
e
r
c
e
n
t
80
60
40
20
0
Insurance Policy Decision is Influenced by
35

TABLE 4.9
SAVINGS FROM ANNUAL INCOME FOR FAMILYS FUTURE OF
RESPONDENTS


Particular Frequency Percent
<5% of Annual income 23 46.0
5 - 10% of Annual income 15 30.0
10 -20% of Annual income
10 20.0
>20% of Annual income 2 4.0
Total 50 100.0

Inference
From the table 4.9, Less than 5% of the respondents savings is from their annual
income for their familys future, 5 - 10% of the respondents savings is from their annual
income for their familys future, 10 - 20% of the respondents savings is from their
annual income for their familys future and Greater than 20% of the respondents savings
is from their annual income for their familys future.
CHART 4.9.1

SAVINGS FROM ANNUAL INCOME FOR FAMILYS FUTURE OF
RESPONDENTS
Savings from Annual Income for Family's future
>20% of Annual income 10 -20% of Annual
income
5 - 10% of Annual
income
<5% of Annual income
P
e
r
c
e
n
t
50
40
30
20
10
0
Savings from Annual Income for Family's future
36

TABLE 4.10
PLAN FOR FAMILYS SECURITY OF RESPONDENTS


Particular Frequency Percent
Investment with Life Insurance
13 26.0
Health Cover 18 36.0
Wealth Creation 3 6.0
Child Education plans with Insurance
11 22.0
Retirement plans with Insurance
5 10.0
Total 50 100.0

Inference
From the table 4.10, 13% of the respondents preferred Investment with Life
Insurance for their familys security, 18% of the respondents preferred Health Cover for
their familys security, 3% of the respondents preferred Wealth Creation for their
familys security, 11% of the respondents preferred Child Education plans with Insurance
for their familys security and 5% of the respondents preferred Retirement place with
Insurance for their familys security.
CHART 4.10.1

PLAN FOR FAMILYS SECURITY OF RESPONDENTS



Plan for Family's security
Retirement plans
with Insurance
Child Education
plans with
Insurance
Wealth Creation Health Cover Investment with Life
Insurance
P
e
r
c
e
n
t
40
30
20
10
0
Plan for Family's security
37

TABLE 4.11
SAVINGS FOR PERSONAL ISSUES OF RESPONDENTS

Particular Frequency Percent
Savings with life cover is better
23 46.0
Pure saving is better 27 54.0
Total 50 100.0


Inference
From the table 4.11, 23% of the respondents preferred savings with life cover is
better for their personal issues and 27% of the respondents preferred pure saving is better
for their personal issues.
CHART 4.11.1

SAVINGS FOR PERSONAL ISSUES OF RESPONDENTS





Savings for Personal Issues
Pure saving is better Savings with life cover is better
P
e
r
c
e
n
t
60
50
40
30
20
10
0
Savings for Personal Issues
38

TABLE 4.12
NO. OF TOTAL LIFE COVER OF RESPONDENTS


Particular Frequency Percent
10 times of your Annual income
33 66.0
5 - 10 times of your Annual
income
5 10.0
1 - 5 times of your annual income
5 10.0
Nil
7 14.0
Total 50 100.0

Inference
From the table 4.12, 33% of the respondents 10 times of their annual income is
total no. of life cover, 5% of the respondents 5 10 times of their annual income is total
no. of life cover, 5% of the respondents 1 5 times of their annual income is total no. of
life cover and 7% of the respondents preferred nothing.
CHART 4.12.1

NO. OF TOTAL LIFE COVER OF RESPONDENTS

No of Total life cover
Nil 1 - 5 times of your annual
income
5 - 10 times of your
Annual income
10 times of your Annual
income
P
e
r
c
e
n
t
60
40
20
0
No of Total life cover
39

TABLE 4.13
NON APPEAL OF LIFE INSURANCE PRODUCTS OF RESPONDENTS


Particular Frequency Percent
Long Term 13 26.0
Not aware of its full benefits
23 46.0
It is anti sentimental 12 24.0
No time to analyze plans 2 4.0
Total 50 100.0

Inference
From the table 4.13, 13% of the respondents preferred long term non appeal of life
insurance products, 18% of the respondents do not aware of its full benefits of life
insurance products, 12% of the respondents are in anti sentimental and 2% of the
respondents dont have time to analyze the plans.
CHART 4.13.1
NON APPEAL OF LIFE INSURANCE PRODUCTS OF RESPONDENTS


Non Appeal of Life insurance products
No time to analyze plans I is anti sentimental Not aware of its full
benefits
Long Term
F
r
e
q
u
e
n
c
y
25
20
15
10
5
0
Non Appeal of Life insurance products
40

TABLE 4.14

TRUSTY OF COMPANY


Particular Frequency Percent
Public Insurance Companies
39 78.0
Private Insurance Companies
11 22.0
Total 50 100.0


Inference
From the table 4.14, 39% of the respondents prefer the Public Insurance
Companies and 11% of the respondents prefer the Private Insurance Companies.
CHART 4.14.1

TRUSTY OF COMPANY OF RESPONDENTS



Trusty of Company
Private Insurance Companies Public Insurance Companies
P
e
r
c
e
n
t
80
60
40
20
0
Trusty of Company
41

TABLE 4.15
MODE OF PREMIUM OF RESPONDENTS


Particular Frequency Percent
Monthly 13 26.0
Half Yearly 22 44.0
Yearly 15 30.0
Total 50 100.0

Inference
From the table 4.15, 13% of the respondents paying monthly premium, 18% of
the respondents paying half yearly premium and 3% of the respondents paying yearly
premium.
CHART 4.15.1
MODE OF PREMIUM OF RESPONDENTS



Mode of Premium
Yearly Half Yearly Monthly
P
e
r
c
e
n
t
50
40
30
20
10
0
Mode of Premium
42

CHAPTER -V
FINDINGS, SUGGESTIONS AND CONCLUSIONS
FINDINGS
According to the Educational Qualifications, Majority of the respondents (25%)
Under Graduate Holder.
According to the Occupation, Majority of the respondents (25%) are Business
people.
According to the Marital Status, Majority of the respondents (22%) are Married.
According to the Family Income, Majority of the respondents (35%) are having
less than 3 Lakhs Annual Income.
According to the Investment, Majority of the respondents (30%) prefer
Investment with Life Insurance.
According to the awareness of life insurance, Majority of the respondents (45%)
are aware of Life Insurance.
According to the benefits of life insurance products, Majority of the respondents
(35%) are getting benefits of life insurance products.
According to insurance policy decision is influenced, Majority of the respondents
(39%) influenced by their family.
According to the savings from annual income for familys future, Majority of the
respondents (23%) allotting less than 5 Lakhs rupees for their familys future.
According to the plan for Familys Security, Majority of the respondents (18%)
prefer Health Cover.
According to the saving for personal issues, Majority of the respondents (27%)
saying pure saving is better.
According to the no. of total life cover, Majority of the respondents (33%) prefer
10 times of your Annual Income for their life cover.
According to the non appeal of life insurance products, Majority of the
respondents (23%) non aware of its full benefits.
According to the trusty of company, Majority of the respondents (39%) prefer
public Insurance Companies.
43

SUGGESTIONS
1. The Insurance companies should focus on post graduate also.
2. The Company should focus on all salaried, business, professionals, and
dependents.
3. The Company should pull customers investing in other opportunities like
gold.
4. The company must increase the awareness of insurance.
5. The company should attract customers by creating awareness about the
products
6. The company should increase the advertising effectiveness
7. The company should intimate them to invest on saving with life cover
8. The company should create the awareness about the benefits of insurance
in present investment scenario.
9. The company should create a brand image and should enable customer to
believe the product and company.
10. The company should adopt quarterly premium payment.
11. The company should concentrate on interest rates.
12. The company should introduce quality products.
13. The company should decrease the premium of the products.
14. The company should concentrate on rural areas.
15. The premiums should be collected in the form of cash instead of cheque
mode of payment.
16. The company should satisfy the customers by increasing their service






44

CONCLUSION
The project as Investors attitude towards life insurance products with
special reference to ICICI prudential life insurance to Coimbatore city has been
conducted to check the awareness of insurance specially ICICI pru life products of the
consumers. From this study it is concluded that in areas like investing and service, the
customer are well satisfied, but the awareness about the products and its benefits is less.
The majority of the consumers believes and invests in public insurance
companies more than the private ltd companies.

From the study it is concluded that75% investors attitude towards life
insurance product is good but the only drawback is the consumers are unaware of its
benefits.












45

CHAPTER-VI

BIBLIOGRAPHY
Kotler, P & Keller K.L. (2009). Marketing Management, Prentice-Hall of India Pvt.
Ltd, 13th edition.
Subhasis, Ray. (2007). Strategizing Brand Positioning in the Context of Indian
Insurance Industry, The IUP Journal of Brand Management, March 2007.
Singh, D. (2011). Factors affecting customers preferences for Life Insurers: An
Empirical Study, The IUP Journal of Risk & Insurance, Vol. VIII No.2, pp 34-49

1. www.irdaindia.com
2. www.icicprulife.com
3. www.google.com
4. www.towerswatson.com/india/newsletters/india-market-life-nsurance/4263
5. http://freepress.in/insurance/market-share-of-all-life-insurance-companies-india/