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PREFACE

I was lucky to get an opportunity to work in AEGON RELIGARE LIFE


INSURANCE Bhopal. Life Insurance Plays important role in AEGON
RELIGARE LIFE INSURANCE, Life Insurance helps in achieves its goals.

I have study in the first paragraph about life insurance & development of life
advisor & the benefits of life insurance & Awareness of Customer about Life
Insurance Plans in AEGON RELIGARE LIFE INSURANCE

The second section of my report deals with a Introduction about Aegon religare
Life insurance About its activities and operations, Products & Services , etc.
this section attempts to give detailed information about the company and the
nature of it’s functioning.

The result which was found from this research clearly shows a company should
be more flexible to the training program they organized for the high profile
advisor. The project undertaken is the thorough study of the service & activities,
which the company is willing to give each advisor. From the survey it was
revealed that AEGON RELIGARE LIFE INSURANCE is doing quite well in
all the sections of its operation.

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TABLE OF CONTENT

S.NO CONTENTS PAGE NO.


01 INTRODUCTION 03
02 COMPANY PROFILE 13
03 OBJECTIVE OF THE STUDY 24
04 RESEARCH METHODOLOGY 26
05 DATA ANALYSIS & INTERPRETATION 30
06 FINDINGS 41
07 SUGGESTION 44
08 CONCLUSION 46
09 BIBLIOGRAPHY 48

10 ANNEXURE 50

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CHAPTER NO-01

INTRODUCTION

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Development of Life Advisor

By the year 1956, 154 Indian insurance, 16 non-Indian insurance and 75


provident societies were carrying on Life insurance business in India. On 1st
September 1956 all the Insurance Companies were nationalized. On September
1956, LIC Act was passed by Indian Parliament and the state run Life Insurance
Corporation of India (LIC) has held the monopoly in countries life Insurance
sector.

What is life insurance?

Simply put, life insurance is a medium of providing a financial backup for your
family even after you pass on. Life insurance is an important part of a sound
financial planning. Different types of life insurance plans will not only
financially protect you and your loved ones incase of unfortunate event but, also
help you save in a planned manner for important goals

How Does Life Insurance Work?

Life insurance companies charge you a regular premium for the cover it
provides for chosen time period. Whereas, incase of ULIPs (Unit Linked
Insurance Plans) part of the premium post deductions of charges is invested to
earn returns.

Life Insurance Products


Almost every company is offering same products, the difference are rates of
premium, or the riders. Some of the important products are as follow:

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An Endowment Policy: Under this, policyholder will get survival benefits (if
he/she survives the policy) or his/her nominees, will get sum assured plus
addition bonus, if applicable (in the event of policyholder’s death).
Money back Policy: Under this policy holder will get a portion of his/her sum
assured at regular intervals during their lifetime; in the event of policy holder’s
death, nominee of the policy will get the sum assured, with additions and bonus,
where applicable.
A whole Life Plan: Under this policyholder pay premium virtually through
his/her life time, and not be eligible for any of the benefits, which will go only
to the policy nominee.
A tem Plan: Under this policyholder will get insurance cover for a specified
term, typically 5, 10, 15 years. Benefits accrue to nominee only in the event of
policyholder’s death during the period.

Distribution Channels in Life Insurance


Distribution is all about getting your product/service to the right people at the
right time with special consideration for profit and effectiveness. Successful
marketing does not end when a business has developed a product/service and
has found its appropriate target audience with a view to selling it at the 'right
price'.
The next issue that needs to be faced is how they are going to distribute and sell
this product/service to the people- the consumers. When a consumer purchases
a product/service, it may have been bought directly from the business, or it may
have been through a number of intermediaries (Brokers, Agents, etc).

FUNCTION OF LIFE ADVISORS:


Advisors provide on going financial advice for his /her client/prospect. In
our official term prospect is a person who can buy life insurance from us.

The advisors study the prospects needs and persuade them to buy a policy.

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Complete all formalities for proposal of new insurance, including filling up
forms. collecting premium. arranging medical examination, collecting
proofs (of age/income), reports and information required by the underwriter.

After having sold a new insurance policy, the advisor has to ensure that
the policy continues. Without a lapse till it becomes a claim. For that
reason an advisor has to do the following:

1. Keep in touch with the policy holder to make sure that renewal
premiums are paid in time.
2. Ensure that nominations are made or changed, if
necessary
3. Assist in collecting claim amounts.
As an advisor you contribute in bringing in new business for the company
offer world class pre and post sales service to the clients with the support of
the organization.But an advisor to us means much more than a salesman or a,
saleswoman.

That is why; we take a lot of care in recruiting and developing our advisor
force, so that we can maintain our standards of quality in service and
salesmanship.
The competition and the customer awareness have forced the times to be a
knowledge oriented marketplace. Appreciating the same we strive to get
people with reasonably good graduation background as our advisors. We also
acknowledge and recognize prior 11 sales experience of the persons, at the time
of recruitment.

The other function is to be of assistance to the policy holder in case he/she


needs a loan under the policy.

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ROLE OF AN ADVISOR:
1. Identify future clients/prospect
2. Making appointment.
2. Conduct financial review meeting with prospect.
4. Close sale.
5. Get referral
6. Provide service to clients/prospect.
7. Follow internal sales and reporting system.
After analyzing the quality(which the company is looking for), back office
service (which the company is giving to that person). functions to be performed,
role to be played . I used to describe the benefits which the advisor can
get out of his/her joining as an advisor in Aegon religare Life Insurance
Company.

OPPORTUNITIES

1. No start up capital is required to becoming an advisor.


2. Flexible working environment.
3. Be his/her own boss.
4. Unlimited earning potential.
5. To be part of world class team.

WORKING ENVIRONMENT OF AN ADVISOR:


To be part of world class sales team.
Work from your own office or residence.
Work full time or part time.
Earn commission, bonus and incentives.
No upper limit of earning.
Flexible career.

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advisors go through both generic and specific, professional programs that help
them remain well informed and knowledgeable about the company’s products in
the market. There is a further focus on soft skills such as communication,
managing long-term relationships and selling skills, which are very relevant in a
service-driven industry like life insurance.

State of the art infrastructure training facilities coupled with an excellent


faculty, guarantee an exceptional learning environment. For advisors who might
be occupied with their daily business/professional routines, AEGON
RELIGARE also offers convenient training options such as online and self-
learning are also provided by the organization.

A 15-day training schedule covers the mandatory IRDA training requirements


and AEGON RELIGARE product-training module. Revision session ensure that
the candidates thoroughly understand the course contents and are well prepared
for the licensing examination. Theoretical training is interspersed with practical
appointment settings with potential customers, giving advisors a feel of how
their business will work from the very first day. All through, the Unit Manager
and the management provide continuous support to the advisors in achieving
independence towards garnering business.

OPPURTUNITY FOR BEING AN ADVISOR

 No start up capital required.


 Flexible working environment
 Be your own boss.
 Unlimited earning potential
 To be a part of world class team.

COMMISSION STRUCTURE
Year 1 Year 2 Year 3

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Number of policies sold 100 150 200
Average Premium Rs. 20000 20000 20000
Total Premium earned Rs. 2000000 4000000 4000000
Average Commission including 450000 675000 900000
bonuses estimate @ 22.5%*
Earning from New Business Rs. 450000 675000 900000
Commission on Renewal 120000 180000
Premium @ 6% for year 2, 3 and 120000
3 % after that
Earning from Renewal business 120000 300000
Rs.
Total Earning Rs. 45000 795000 1200000
* Depending on the product mix Commission can go upto 35% in the 1st
year, 7.5 % in the 2nd and 3rd year and 5% 4th year onwards.

Benefits of Life Insurance

Insurance is the instrument of Security, saving and peace of mind. It provides


several benefits by paying a small amount of premium to an insurance company
as:

Safeguards oneself and one's family for future requirements


Peace of mind-in case of financial loss.
Encourage saving.
Tax rebate
Protection from the claim made by creditors
Security against a personal loan, housing loan or other types of loan
Provide a protection cover to industries, agriculture, women and child

IS INSURANCE A WORTHWHILE CAREER?

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Considering that insurance is a profession that is identified with accidents and
untoward incident and those insurance officials have a poor image of over
promising and under-delivering on the insuring public, is insurance an
honorable and worthwhile profession?
.
Insurance Regulatory Authority:

On the recommendation of Malhotra Committee, an Insurance Regulatory


Development Act (IRDA) passed by Indian Parliament in 1993. Its main aim is
to activate an insurance regulatory apparatus essential for proper monitoring and
control of the Insurance industry. Due to this Act several Indian private
companies have entered into the insurance market, and some companies have
joined with foreign partners.

In this economic reform process the Insurance Companies will boost the socio-
economic development process. The huge amount of funds that will be at the
disposal of Insurance Companies will be directed as desired avenues like
housing, safe drinking water, electricity, primary education and infrastructure.
The growth of the debt market will also get a boost. Above all the policyholders
will get better pricing of products from competitive insurance companies.

There are some benefits of life Insurance as:

Protection: Life Insurance guarantee full protection against risk of death of


the assured. In case of death, full sum assured is payable.
Long term saving: Life Insurance encourages long term saving. By paying a
small premium in easy installments for a long period a handsome saving can be
achieved.
Liquidity: Loan can be obtained against a policy assured whenever required.

Tax Profit: Tax relief in income tax and wealth tax can be availed on the
premium paid for Life Insurance.

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CHAPTER NO-01

COMPANY

PROFILE

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AEGON Religare Life Insurance Company

AEGON, an international life insurance, pension and investment company,


Religare, a global financial services group and Bennett, Coleman & company,
India’s largest media house, have come together to launch AEGON Religare
Life Insurance Company Limited (ARLI). This venture is dedicated to build a
profitable customer-centric business with scale, providing a work environment
that fosters excellence and innovation. This joint venture will balance a local
approach with the power of an expanding global operation.ARLI launched its
pan-India operations in July, 2008 following a multi-channel distribution
strategy with a vision to help people plan their life better. The fulfillment of this
vision is based upon having a complete product suite, providing customised
advice and enhancing the overall customer experience through superior service.

ARLI has launched a suite of products that are focused on providing the
customer with the means to meeting their long-term financial goals. At the same
time product development has been founded on the tenet of providing the
customer with great value. ARLI products such as AEGON Religare iTerm Plan
and AEGON Religare Invest Maximiser Plan have been ranked among the best
in terms of value and have attracted many external accolades.

About AEGON

As an international life insurance, pension and investment company, AEGON


has businesses in over twenty markets in the Americas, Europe and Asia. With
headquarters in The Hague, the Netherlands, AEGON companies employ
approximately 28,000 people and serve some 40 million customers across the

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globe. The company’s common shares are listed on three stock exchanges:
Amsterdam, New York and London. AEGON has more than 160 years of
experience with its roots going back to 1844. AEGON holds 26% equity in
ARLI.About Religare Enterprises Limited

Religare Enterprises Limited (REL) is a global financial services group with a


presence across Asia, Africa, Middle East, Europe and the Americas. In India,
Religare’s largest market, the group offers a wide array of products and services
ranging from insurance, asset management, broking and lending solutions to
investment banking and wealth management. The group has also pioneered the
concept of investments in alternative asset classes such as arts and films. With
over 10,000 employees across multiple geographies, Religare serves over a
million clients, including corporates and institutions, high net worth families
and individuals, and retail investors. REL hold 44% equity in ARLI.

About Bennett, Coleman & Company Limited

Bennett, Coleman & Company Limited (BCCL), part of the mammoth Times
Group, is India’s largest media house. It reaches out to 2468 cities and towns all
over India. The group owns and manages powerful media brands like The
Times of India, The Economic Times, Maharashtra Times, Navbharat Times,
Femina, Filmfare, Grazia, Top Gear, Radio Mirchi, Zoom, Times Now, Times
Music, Times OOH, Private Treaties and indiatimes.com. All of its brands are
multinational in outlook, traditional at heart and national in spirit. From the very
first edition on November 3, 1838 the mammoth BCCL Group has come a long
way. By way of the innovative venture of Times Private Treaties
(http://www.timesprivatetreaties.com), the BCCL Group holds 30% equity in
ARLI

Vision & Values

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Products
Life Insurance

Life Insurance is a commonly used term, yet it is seldom understood and not
many are confident about choosing the best life insurance policy for themselves
and their families. There are many life insurance companies and innumerable
plans available, but before you opt for the perfect life insurance policy, you
need to evaluate the pros and cons. Evaluate life insurance as an investment
option and think about whether you really need it. And if you do, should you
choose a cheap life insurance policy or opt for the best life cover available.
Which insurance company should you select? And if you already have a policy,
should you buy another?

The questions that pop up are mind boggling; so to help you plan your life
better, we have provided answers to a few basic ones. This will equip you
choose the best life insurance company and plan for you and your family.

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What is life insurance?

Simply put, life insurance is a medium of providing a financial backup for your
family even after you pass on. Life insurance is an important part of a sound
financial planning. Different types of life insurance plans will not only
financially protect you and your loved ones incase of unfortunate event but, also
help you save in a planned manner for important goals

How Does Life Insurance Work?

Life insurance companies charge you a regular premium for the cover it
provides for chosen time period. Whereas, incase of ULIPs (Unit Linked
Insurance Plans) part of the premium post deductions of charges is invested to
earn returns.

Do I Need Life Insurance?

Whether or not you need life insurance and how much, depends on whether or
not you have dependent family members. But practical wisdom suggests that
even if nobody relies on your income for daily living, you should still buy at
least one life insurance plan which serves as a means of personal investment
and tax savings instrument.On the other hand if your income is important to
your family members and your salary contributes to paying bills and loans, then
you must choose the best life insurance option that you can afford. Of all plans
available, Term Plan is the pure protection plan and will be cheap life insurance
as well. Be sure to compare life insurance companies and the plans they offer
well before settling for one.

My Employer Offers Life Insurance; Do I Still Need a New Life Insurance


Policy?

If your employer provides you with a life insurance policy, that's a bonus. These
days large organizations do offer life insurance as one of the perks, but

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remember that often these cheap life insurance plans may not cover enough. So
always ensure that you read the fine print and are aware of how much your
employer's life insurance company promises you. And if this insurance is not
adequate, it is advisable to invest in a new life insurance plan as well.

Also, the insurance amount changes from organization to organization and


different life insurance companies offer different plans and payment options
which need to be kept in mind. Having one new life insurance plan tucked away
for safety will help you save in the present and feel less worried about the
future.

STEP 1: Evaluate why you are investing in life insurance plans.

• If you have dependent family members, then life insurance plans like
Protection Plans which provide only life cover will help your family tide
over financial losses in tough times.
• If you are investing to save for your child’s future or planning for your
retirement, then special plans like Child Plans and Retirement Plans
would be better life insurance schemes.
• If you don’t have dependent family members, then your life insurance
plans can become your channel of investment. Earlier you start saving
better it is because your investments get that much more time to grow in
the long run.
• For people who don’t have any other major investments, life insurance
schemes are also ideal ways to save tax.

STEP 2: Assess the total financial needs of your family.

In the unfortunate event of your demise, knowing the amount of

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• monetary compensation that will be sufficient to honour your family’s
financial commitments is important and must be considered while buying
any life insurance schemes available.
• If the plan is to achieve certain future goals then it is important to
ascertain the future value to the goal and save for the same.

STEP 3: Assess how much you can invest regularly.

• After you know how much you need, assess how much you can save and
invest in life insurance plansplans on an ongoing basis.
• If you expect your income to grow in the near future, then you can opt for
an increasing premiumPlans where the premium increases gradually and
also helps increase the sum assured.

STEP 4: Pick a Plans to suit your needs.

• After having assessed your life insurance requirements and the amount
you can save, it is time for you to evaluate different products. It is also
important to spend some time researching various plans available.

There are a lot of insurance companies offering numerous life insurance plans.
The names of plans may vary but what you need to look out for is the advantage
each plan offers you over the other.

Our Plans:

• Child Plans

Protection Plans

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ULIPs

Unit Linked Insurance Policies or ULIPs as they are commonly called, are more
innovative forms of life insurance that also offer returns on your investments.
Every ULIP provides cover against death. In addition, these unit linked
insurance plans also serve as great means of long-term savings, structured to
give you miximum benefit. In simple words, investment in ulips is great
combination of protection and investment.Let us help you understand ULIPs
better.

Flexibility of ULIP investment

Most unit linked policy holders opt for ULIPs because of the flexibility
they offer. There is an option of making lumpsum investment or paying
regular premiums using the systematic investment plans (SIP).

Tax Benefits of ULIP investments

One of the other common reason for the success of unit linked insurance plans
is that all ULIP investments qualify for tax deductions under Section 80C of the
Income Tax Act. Irrespective of your plan and fund options you can enjoy these
tax redemption benefits.

However, once you have decided to invest in ULIPs, you will realise that it has
many unique benefits which a good investment plans should have.

Our Plans
Retirement

regular income sources. Once you gauge your expenses after your retirement,
appraise what sources of income you will have then. Also assess how you can
make your current assets work optimally for you and assist in retirement
planning. If you have invested in AEGON Religare Pension Plans, you can

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count on at least one reliable source of income. Key to good retirement planning
is to have an early start and steady growth. After evaluating your expenses post
retirement, choose a plan which can help you achieve that amount by investing
reasonable premium over a period of time. For example AEGON Religare
Pension Plans offers the 'Increasing Premium' option which allows you to
increases the premium year on year to address the inflation cost. You can pay
regular premiums which increase by 5% or 8% of the first year's premium,
every year. Thus ensuring that you always maintain the current lifestyle, even
after retirement.

• Health Plan

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CHAPTER NO-01

OBJECTIVE OF
STUDY

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OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE
• To study the various way of Development of Life Advisor In AEGON
RELIGARE LIFE INSURANCE.
• To study about the importance of Life Insurance provide by AEGON
RELIGARE LIFE INSURANCE.

SECONDARY OBJECTIVE
• To find out the Awareness of Customer about Life Insurance Plans in
AEGON RELIGARE LIFE INSURANCE .

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CHAPTER NO-04

RESEARCH METHODOLOGY
RESEARCH
METHODOLOGY

23
Research methodology is a way to systematically solve the research problem.
Research methodology constitutes of research methods, selection criterion of
research methods, used in context of research study
This is an study on development of Life Advisor at Aegon Religare Life
Insurance & the level of customer satisfaction towards the policy provided by
aegon religare. I have study About the importance of LI in the project.

IMPORTANCE OF THE RESEARCH


Significance of research and research leads to invention. Following facts
highlight the importance of the research.

1. Research facilitates logical or scientific thinking process which leads


towards flow less strategy formulation.

2. It facilitates identification of ‘trends’ which ultimately responsible in


marketing opportunities.

3. Decision making becomes easier for well researched phenomenon.

4. Research is important in solving various operational and planning


problems of business and industry.

TOOLS AND TECHNIQUES

As no study could be successfully completed without proper tools and


techniques, same with my project. For the better presentation and right
explanation I used tools of statistics and computer very frequently. And I am
very thankful to all those tools for helping me a lot. Basic tools which I used for
project from statistics are-

- Pie charts
- Tables
bar charts and pie charts are really useful tools for every research to show the
result in a well clear, ease and simple way. Because I used bar charts and pie

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charts in project for showing data in a systematic way, so it need not necessary
for any observer to read all the theoretical detail, simple on seeing the charts
any body could know that what is being said.
Technological Tools
Ms-Word
Ms-excel
Internet
Above application software of Microsoft helped me a lot in making project
more interactive and productive.
Microsoft-Excel had a great role in my project, it created for me a situation of
“you sit and get”. I provided it simply all the detail of data and in return it given
me all the relevant information..
Microsoft-Access did the performance of my personal assistant who organizes
my all the details of document without disturbing them even a single time in all
the project duration.
And in last Microsoft-Word did help me for the documentation of the project in
a presentable form.

PRIMARY DATA:
This consisted questionnaire and interaction from various people.
A focus group study have conducted to design the Customers survey
questionnaire with a sample size of 50 respondents. The survey was conducted
in Bhopal city..

SECONDARY DATA:
1 Internet ,
2 Books
3 Journals ,
4 Newspaper,
5 Annual report,

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6 Database available in the library,

SCOPE OF THE STUDY


The scope of the study is limited to Development of Life Advisor in AEGON
RELIGARE LIFE INSURANCE Study objective is to examine the various
factors which play their part in, customer Satisfaction and the major
dissatisfaction areas for the customers. The study considered the area of Bhopal
city. The sample under consideration consisted of the existing customers of
AEGON RELIGARE LIFE INSURANCE.
We have selected following parameters for study purpose.
(1)Strategy in AEGON RELIGARE LIFE INSURANCE.
(2) Satisfaction level.

LIMITATION
1. Sample size of 50 is not enough to generalize result.
2. Response is depending upon psychology of respondent.
3. The survey is geographically limited to Bhopal.
4. Some of the respondent tries to hide information like sales volume.
6. Some secondary data which I expect to collect from the company is not
provided to me.

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CHAPTER NO-05

DATA ANALYSIS
&
INTERPRETATION

27
LEADING Products

BRAND RESPONDENTS IN
FAVOUR
Pension Plan 21

Health Plan 19

ULIP 18

21.5
21

20.5
20
19.5
19

18.5
18
17.5

17
16.5
Pension Health ULIP 
Plan Plan

LEADING COMPANY

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COMPANY RESPONDENTS IN
FAVOUR
Aegon Religare Life 25
Insurance
Reliance Life 20
Insurance
Aviva Life Insurance 18
Tata AIG Life 09
Insurance
Future Genrali Life 28
Insurance

29
30

25

20

15

10

0
Aegon Reliance Aviva Life Tata AIG Future
Religare Life Insurance Life Genrali
Life Insurance Insurance Life
Insurance Insurance

1) Do you think that Life insurance services of Aegon Religare is well?

Response No. of respondent


Strongly agree 40

Agree 30

30
Neither agree nor disagree 05

Disagree 15

Strongly disagree 10

strongly agree

agree

10 % 40 %
15 % neither agree
nor disagree
disagree
5%
strongly
disagree

30 %

INTERPRETATION-
Out of 50 respondent 40% respondent were strongly agree while 30% were
agree and only 05% were neither agree nor disagree and 15% respondent were
disagree and 10% were strongly disagree with the statement that Life insurance
services of Aegon Religare is well.

2). Do you think that Recruitment & Development of Life Advisor in Aegon
Religare is well?

Response No. of respondent


Strongly agree 50

31
Agree 25

Neither agree nor disagree 10

Disagree 10

Strongly disagree 05

strongly
agree
agree

10 % 5% neither agree
nor50 %
disagree
10 % disagree

strongly
disagree

25 %

INTERPRETATION-

• Out of 50 respondent 50% were strongly agree while 25% were agree and
only 10% were neither agree nor disagree and 10% respondent were
disagree and 05% were strongly disagree with the statement that
Recruitment & Development of Life Advisor in Aegon Religare is well .

3) Do you Think that training Programme of IRDA is provided by Aegon


Religare is well?

Response No. of respondent


Strongly agree 35

32
Agree 27

Neither agree nor disagree 13

Disagree 10

Strongly disagree 15

strongly
agree
agree

neither agree
10 % 15 % nor disagree
35 %
disagree
13 %
strongly
disagree

27 %

INTERPRETATION-
Out of 50 respondent 35% were strongly agree while 27% were agree and only
13% were neither agree nor disagree and 10% respondent were disagree and
15% were strongly disagree with the statement That training Programme of
IRDA is provided by Aegon Religare is well.

4).Do you think that Life Advisor of Aegon religare provide full
information of Insurance Policy to Customers ?

Response No. of respondent


Strongly agree 22

33
Agree 38

Neither agree nor disagree 03

Disagree 17

Strongly disagree 20

strongly
agree
agree

20 % 22 %
17 % neither agree
nor disagree
disagree
3%
strongly
disagree

38 %

INTERPRETATION-
Out of 50 respondent 22% were strongly agree while 38% were agree and only
3% were neither agree nor disagree and 17% respondent were disagree and 20%
were strongly disagree with the statement that Life Advisor of Aegon religare
provide full information of Insurance Policy to Customers .

5).Do you think that Aegon Religare provide good Incentives for
Development of Life Advisor?

Response No. of respondent

34
Strongly agree 33

Agree 47

Neither agree nor disagree 05

Disagree 10

Strongly disagree 05

strongly
agree
agree

05 % 33 %
10 % neither agree
nor disagree
disagree
05 %
strongly
disagree

47 %

INTERPRETATION-
Out of 50 respondent 33% were strongly agree while 47% were agree and only
05% were neither agree nor disagree and 10% respondent were disagree and
05% were strongly disagree with the statement that Aegon Religare provide
good Incentives for Development of Life Advisor .
Q. 6). Do you think Development Programme in Aegon Religare
Motivate to Life Advisor?

Response No. of respondent


Strongly agree 17

35
Agree 60

Neither agree nor disagree 03

Disagree 05

Strongly disagree 05

s trongly
agre e
agre e
05 % 17 %
05 %
ne ithe r agre e
nor dis agre e

03 % dis agre e

s trongly
dis agre e

60 %

INTERPRETATION-

Out of 50 respondent 17% were strongly agree while 60% were agree and
only 03% were neither agree nor disagree and 05% respondent were disagree
and 05% were strongly disagree with the statement that Development
Programme in Aegon Religare Motivate to Life Advisor.

7). Do you think Development of Life Advisor helps in Achive Target in


Company?
Response No. of respondent
Strongly agree 37

36
Agree 43

Neither agree nor disagree 10

Disagree 05

Strongly disagree 05

s trongly
agre e
agre e
05 % 37 %
05 % ne ithe r agre e
nor dis agre e

10 % dis agre e

s trongly
dis agre e

43 %

INTERPRETATION-
Out of 50 respondent 37% were strongly agree while 43% were agree and only
10% were neither agree nor disagree and 05% respondent were disagree and
05% were strongly disagree with the statement that Development of Life
Advisor helps in Achive Target in Company .

Q. 8). Do you think that Aegon Religare Life Insurance company Provides
good return on Investment ?

Response No. of respondent

37
Strongly agree 17

Agree 60

Neither agree nor disagree 03

Disagree 05

Strongly disagree 05

s trongly
agre e
agre e
05 % 17 %
05 % ne ithe r agre e
nor dis agre e

03 % dis agre e

s trongly
dis agre e

60 %

INTERPRETATION-

Out of 50 respondent 17% were strongly agree while 60% were agree and only
03% were neither agree nor disagree and 05% respondent were disagree and
05% were strongly disagree with the statement that Aegon Religare Life
Insurance company Provides good return on Investment .

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FINDINGS
CHAPTER NO-06

Finding
• 35% were strongly agree while 27% were agree and only 13% were
neither agree nor disagree and 10% respondent were disagree and 15%

39
were strongly disagree with the statement That training Programme of
IRDA is provided by Aegon Religare is well.

• 40% respondent were strongly agree while 30% were agree and only 05%
were neither agree nor disagree and 15% respondent were disagree and
10% were strongly disagree with the statement that Life insurance
services of Aegon Religare is well.
• 50% were strongly agree while 25% were agree and only 10% were
neither agree nor disagree and 10% respondent were disagree and 05%
were strongly disagree with the statement that Recruitment &
Development of Life Advisor in Aegon Religare is well .
• 22% were strongly agree while 38% were agree and only 3% were neither
agree nor disagree and 17% respondent were disagree and 20% were
strongly disagree with the statement that Life Advisor of Aegon religare
provide full information of Insurance Policy to Customers .
• 33% were strongly agree while 47% were agree and only 05% were
neither agree nor disagree and 10% respondent were disagree and 05%
were strongly disagree with the statement that Aegon Religare provide
good Incentives for Development of Life Advisor .
• 17% were strongly agree while 60% were agree and only 03% were
neither agree nor disagree and 05% respondent were disagree and 05%
were strongly disagree with the statement that Development Programme
in Aegon Religare Motivate to Life Advisor.
• 37% were strongly agree while 43% were agree and only 10% were
neither agree nor disagree and 05% respondent were disagree and 05%
were strongly disagree with the statement that Development of Life
Advisor helps in Achive Target in Company .
• 17% were strongly agree while 60% were agree and only 03% were
neither agree nor disagree and 05% respondent were disagree and 05%

40
were strongly disagree with the statement that Aegon Religare Life
Insurance company Provides good return on Investment

CONCLUSION
CHAPTER NO-08

41
CONCLUSION

During the data collected, it has been found that people have great awareness about various
companies but a lot more has to be done, especially by smaller companies like Aegon Religare
Life Insurance to establish their market presence.

People are beginning to look beyond LIC for their insurance needs and are
Willing to trust private players with their hard earned money

42
People in general have been influenced by the marketing activities of insurance companies. A
high penetration of print, radio and TV ad campaigns over the years is beginning to have its
impact now.

Another important trend was in terms of people viewing insurance as a tax


Saving and investment instrument as much as protective one.

The general satisfaction levels among public with regards to policy and agents still requires
improvement. Here lies the opportunity for a relatively new comer like Aegon Religare
Insurance. LIC has never been known for prompt service or customer oriented methods but
Aegon Religare Insurance can build its reputation based on these factors.

SUGGESTION
CHAPTER NO-07

43
Suggestion
1. Try to know the reason for being not interested.

44
2. Try to make them aware as much as possible regarding product profile which
is best in the market like S&P, life time, life time pension and smart kids.
3. Convince them by saying that we also have evening classes or on line
training program so that; that person can easily afford this time.
4. If the person will make one policy he/she will be able to earn that much of
money by means of commission not only that during training period IRDA
charge Rs8500/ per trainee but Aegon Religare is taking only Rs1000/.
5. Try to fix minimum targets for new recruited as they are new in field.
6. Team leader should constantly motivate and suggest the beginners.

BIBLIOGRAPHY
CHAPTER NO-09

45
BIBLIOGRAPHY
BOOKS

Marketing Management Kotler Philip, The Millennium Edition,


Prentice Hall Of India Private Limited, New Delhi.

A. Aaker, David. Strategic Market management. New York: John


Wiley & Sons,2001, pp.154-162.

Levy, Michael. A. Weitz .Barton. Retailing Management. New York:

46
Research Methodology: C.R.Kothari , 2nd edition.
S.N Murty and U Bhojanna

Website Address:
www. AEGON RELIGARE LIFE INSURANCE.com
www.googlesearch.com

ANNEXURE
CHAPTER NO-10

47
Questionnaire

I have study about the Life Insurance Advisor in Aegon religare. I have design
some questionnaire for customer & Advisor to know their Satisfaction Level &
Awareness about Life insurance.

CUSTOMER BUYING BEHAVIOUR –


QUESTIONNAIRE
48
Q 1) Do you have any life insurance policy?
a) YES
b) NO

Q 2) Are you aware about the Life Insurance products or will


prefer to purchase the Life Insurance products of (mark √):

• LIC
• AEGON RELIGARE LIFE INSURANCE

• HDFC Standard Life Insurance


• SBI Life Insurance
• Kotak Life Insurance
• TATA AIG Life Insurance
• Reliance Life Insurance

Q3) Which company’s insurance policy do you have?


________________________________________________________________
__

Q4) Term of your insurance policy?


a) < 5 years
b) 5 – 10 years
b)c) 10 – 20 years
d) any

Q5) What do you think are the benefits of Life Insurance?

a) Covers future uncertainty


b) Tax Savings
c) Investments
d) Comprehensive investment and risk coverage instrument

LIFE INSURANCE ADVISORS – QUESTIONNAIRE

49
Q1) Educational Qualification

• Undergraduate
• Graduate
• Post Graduate

Q2) Number of years are you in ludhiana


• Less than 5 years
• More than 5 years

Q3)Occupation

• Business
• Profession
• Service

• Any Other

Q4) Your annual household income

• < 2 lakhs
• 2 – 5 lakhs
• 5 – 10 lakhs
• > 10 lakhs

Q5) What is your perception about insurance sector?

• Laborious & Lucrative


• Laborious but not Rewarding
• Easy & Rewarding
• Easy but not Rewarding
• No Idea

Q6) Are you aware of KOTAK LIFE INSURANCE?


• Yes
• No

50