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Questionnaire

For Consumers of Insurance Products


The information collected is intended to be used for pursue academic purposes.
I shall be grateful for your valuable inputs and active co-operation.
Kindly respond to all questions.
You need not disclose your identity
Tick () the appropriate answer where required
1.

Which of these long-term savings you are aware of?


(a) Life Insurance
(b)

Fixed deposit

(c)

Mutual Funds

(d) Securities (Shares and Debentures)

2.

(e)

Post Office Savings

(f)

Any other

Have you taken any life insurance policy


Yes

3.

No

If Yes
From which source did you come to know about life insurance?
News Papers and
Magazines

Radio

Television

Direct Sales Executive

Agents/ Field sales


representative
Bank

Friend

Telemarketing
Internet
If No

Direct Mail

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Others (pl. Specify)

4.

What are the reasons that may have held you back from investing in life insurance
products? (Please rate them on extent of impact)
Very low
Very High
(a)

Lack of awareness

(b)

Returns not lucrative enough

(c)

Promotional measures not attractive

(d)

Not approached by the intermediaries

(e)

Inclination to short term lump sum gain

(f)

Not affordable

(g) Any other (


5.

If you are holding a life insurance policy, please mention the name of the policy that you
taken and the name of the company?
Name of the Policy

Name of the company :


6.

What prompted you to buy the life insurance policy from the company named by you?
(please rate them on scale of importance)
Very low
Very High
(a) Brand image of the Company

1 2

(b) Excellent past record of performance

1 2

1 2

(c) Marketing people insisted me to buy

1 2

(d) Impressed the companys Ads and promotion

1 2

(e) Desire to try out a new company

1 2

1 2

(c)My friend/acquaintances have bought from this company

(e )Any other (
7.

Are you able to recall any Ad about life insurance in general and / or life insurance
product in particular
Yes

No

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8.

If Yes What in the main message that you get from the Ad?
Low

9.

10

High

(a) Risk coverage

(b) Protection for the family

(c) Long term savings

(d) Tax savings

(e) Provision for old age

(f) Any other (Please Specify )

do you think that advertises (the life insurance company) wants you to know belief or do?
(a) life insurance, a must for family protection

Low
1 2

High
4
5

(b) should go for compulsory long term savings

(c) should express my love for family through life insurance

(d) should have adequate risk coverage

(e) can save tax through life insurance

(f) can have peace and mental satisfaction

(g)should have economic independence and dignity in old age

(h) any other (Please specify )

How likely is it that the Ad will influence you to buy a life insurance product?
(a)Ad is only a good source of information to me

Agree

Disagree

(b)Too many Ads by different companies create


confusion

Agree

Disagree

(c) The actual product I buy in usually the same as


advertised

Agree

Disagree

(d) It in hard to make a buying decision because of all


the products to choose from

Agree

Disagree

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(e) Ads sometimes make high promises than actually


experienced later on

Agree

Disagree

(f) I get promoted to make further enquires about the


idea /product particularly its features and price.

Agree

Disagree

(g) The main reason a company comes out with Ads


is to make more sales

Agree

Disagree

(h) Advertising tempts people to think seriously about


their ourselves and their family

Agree

Disagree

(i) I like to buy products that have well known brand


name

Agree

Disagree

(j) It seems wasteful for so many companies to produce


the products with similar features.

Agree

Disagree

(k) Advertising and promotional costs unnecessarily


raise the price which the consumer has to pay for a
product

Agree

Disagree

(l) Even with so much advertising it is difficult to


know which brand is best

Agree

Disagree

(m) The wide variety of competing products makes


intelligent buying decisions more difficult

Agree

Disagree

(n) Advertising usually present correct and true picture


of the product

Agree

Disagree

11. How do you made your purchase decision for life insurance product?
(a) Consult other people to help choose the best alternative
YES
available from a product class

NO

(b) Try to buy the same brand that my friends/ colleagues


have bought

YES

NO

(c) Consult an Agent / Advisor before making final decision


to buy

YES

NO

(d) Base my decision on the brand value of the company and


the product.

YES

NO

(e) Achieve a sense of belonging by purchasing the same


brands and from the same company that other purchase

YES

NO

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12. In selecting form many types and brands of the insurance products available in the market,
would you so that
I would not care at all as to which
1 2 3
4 5 I would care a great deal as to
one by one buy
which
13. How important would it be to you to make a right choice of the brand?
Not at all important
1 2 3
4
5
very much concerned
14. Do you tend to stick to the same brand and remain loyal to a particular insurance company
and its product?
(a) I would rather stick with a brand I usually buy than try
Yes
No
something I am not sure of
(b) If I like a brand, I really switch from it just to try something
different.

Yes

No

(c) I got bored with buying the same brands and even if they are
good.

Yes

No

(d) When I see a new brand some what different from the usual,
I make enquires.

Yes

No

(e) I rarely read Ads that just seen to contain a lot of


information

Yes

No

(f) I feel the urge to buy something really different from the
brands I usually buy

Yes

No

(g) I take chances in buying unfamiliar brands just to get some


Yes
No
variety in my purchase
15. While purchasing a life insurance policy of a particular brand would you so that the
commercial / Ads and other promotional campaigns used by the insurance company.
(a) Remind you of the brand

Yes

No

(b) I feel as though I were right there in the commercial expensing the
same thing

Yes

No

(c) I am compare the brand with other competing brands on matters that
are important to me.

Yes

No

(d) This commercial leaves me with a good feeling about using the
brand that I have bought.

Yes

No

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16. Personal data (optional)


i) Sex

Male

Female

ii) Age group


iii) Occupation

18-25 yrs

26-35 yrs

36-45yrs

46-55 yrs

Above 55

Government /Public sector employee


Pvt. Sector employee
Self employed
Professional (Doctor / Lawyer etc)
Agriculturist
Urban Marginal (wage earners)
NRIs
Media Person
Others (Please Specify )
iv) Annual Income

Name & Residential adress:

Less than Rs. 3,00,000


Between Rs.3,00,000 to 5,00,000
Between Rs.5,00,000 to 8,00,000
Between Rs.8,00,000 to 10,00,000
Above 10,00,000

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