QUESTIONNAIRE

GROUP – 6, SECTION-A

Abhishek Jain P19017

Yogesh.L P19027

Rohan Mohapatra P19031

Arun Balaji R P19039

Kishan Singh P19048

Vedika P19058

Date of Submission:

February 18th, 2020

 Survey on Insurance Policies

1. Name:

2. Age:
o 18 – 21
o 22 – 25
o 26 – 29

3. Gender:
o Male
o Female
o Wish not to say

4. Marital Status:
o Single
o Married

5. Highest Level of Education:

o Uneducated
o Primary Education
o Higher Secondary
o Undergraduate
o Postgraduate

6. Occupation:
o Student
o Employed
o Self-employed
o Unemployed
o Family-owned business

7. Income Per Annum:

o Less than 2.5 Lakhs
o 2.5 lakhs – 5 lakhs
o 5 lakhs – 7.5 lakhs
o 7.5 lakhs – 10 lakhs
o Above 10 lakhs

8. Have you ever taken an insurance Policy?

o Yes
 o No

9. If Yes, what policy you have taken?

o Health Insurance
o Life Insurance
o Automobile Insurance
o House Insurance
o Wedding Insurance
o Others

If Others, please specify________________

10. Rank the order on how you wish to go about your income savings

Preference Preference Preference Preference Preference Preference

 
1 2 3 4 5 6

Fixed
Deposits            

Bonds            

Gold            

Real
Estate            

Insurance            

Mutual
Funds            
 11. Given an option to take insurance policy. What are all your preferences from the
below options.

Preferences 1 2 3 4 5 6 7

Automobile Insurance              

Gadgets Insurance              

Wedding Insurance              

Pension plan Insurance              

Natural calamities
             
Insurance

Travel Insurance              

Health Insurance              

12. Rate the factors which you consider important while purchasing an insurance policy :

Highly Least Not

  Important Neutral
Important Important Important

Premium          

Return          

Maturity period          

Company Image          

Insurance Agent          

Accessibility          

13. Which kind of Insurance Policy do you prefer?

o Short term (1- 5 years)
o Medium term (5-10 years)
o Long term (Above 10 years)

14. If you are planning to purchase an insurance, what will be your preferred mode?
 o Online
o Offline

15. Provided with an option of customizing your offerings (picking 2-3 policies) under
one insurance policy as per your preference, will you purchase it?
o Yes
o No
o May be

16. Please indicate your level of agreement/disagreement with the following:

Strongly Agree Neutral Disagree Strongly

Agree Disagree

Security is more important than

money

Safety for you and your family

members always comes first

You like taking risks regularly

You do not like even slightly risky

situations

You take risks sometimes based on

the level of impact of your decision

You like working in uncertain

situations

17. You see yourself as a ___:

Risk Taker 1 2 3 4 5 6 7 Risk Averse

18. While making investment, you give the highest importance to:
o No risk, low interest, long term
o High risk, high gains, short term
 o Moderate risk, moderate returns

19. Do you find investing in insurance policy a risky proposition?

o Yes
o No

20. Which existing insurance are you likely to take in future? __________

21. Is there any new insurance product/policy (apart from existing product in the market)
that you require? ___________

22. Should institutions (educational or employment) provide the insurance for their
students or employees?
o Yes
o No

23. If your institution (educational or employment) has bought an insurance policy for
you, will you consider buying a new insurance policy in the same field to cover the
additional risk?
o Yes
o No

For Existing Customers

1. Are you willing to buy insurance policy again?
o Yes
o No

2. Challenges faced after taking an insurance policy

o Claim settlement was difficult
o Premium charged was high
o Late or no notification for renewals and premium
o No challenges faced

3. Views on premium amount you paid

o Too expensive
o Expensive
o Moderate
o Low
o Don’t care

4. Rate your insurance experience

 o Highly satisfied
o Satisfied
o Neutral
o Dissatisfied
o Highly dissatisfied
5. Please indicate the extent to which you agree/disagree with the following statements

Strongly Agree Neutral Disagree Strongly

agree Disagree

Adequacy amount of ○ ○ ○ ○ ○
claim settlement.
The claim procedure was ○ ○ ○ ○ ○
smooth
Issuance of Renewal ○ ○ ○ ○ ○
notices
Agents offer you ○ ○ ○ ○ ○
incentives to buy
insurance
You aware of the terms ○ ○ ○ ○ ○
and conditions of the
insurance policy.
Your policy lapses often ○ ○ ○ ○ ○
due to non-payment of
premium.
6. Do you think insurance is needed?
o Yes
o Up to certain extent
o No

7. If certain extent, which type of insurance (can be more than one answer)
o Automobile insurance
o Travel insurance
o Gadget insurance
o Life insurance
o Health insurance
o Others, please mention_____________________

8. At what age you bought your first insurance (any kind)

o 18-21
o 22-25
o 26-29
9. Will you continue with your current insurance plans?
o Yes
o No

10. Are there any changes in the existing policy that you require? ___________

11. Are you looking for any alternative to your current insurance plans or policies?
o Yes
o No

12. Is there any new insurance product/policy (apart from existing product in the market)
that you require? ___________