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Submitted For the Partial Fulfillment of the Requirement for the Award Of POST GRADUATE DIPLOMA IN MANAGEMENT




This is to certify that the project report titled Study of sales & distribution and marketing of ICICI Prudential life insurance carried out by the VIPRA RATHORE student of post graduate diploma in management of institute of management education, Sahibabad has been accomplished under our guidance and supervision from 6th may to 26 July 2010.this dissertation represents her original work and is worthy of consideration for the award of degree of PGDM.



I hereby declare that the project titled ³STUDY OF SALES & DISTRIBUTION AND MARKETING OF ICICI PRUDENTIAL LIFE INSURANCE´ is original and bonafide work carried out by me during the march 2010 under the able Guidance of Mr. G.D. SARDANA and Mr. NITIN GUPTA, Development Manager in partial fulfillment of the requirement of post graduate diploma in management at institute of management education. I also declare that this project is a result of my effort and no part of this project has been published earlier or been submitted as a project by me for any degree or diploma for any institute or university.

VIPRA RATHORE Batch: PGDM (2009-2011) Place: Sahibabad


I convey my sincere thanks and deep gratitude to respected to MR. NITIN GUPTA Development Manager, ICICI prudential life insurance company, Etah.

I take this opportunity to thank my project guide MR. SANCHIT KHARE financial services manager (F.S.M.) ICICI prudential life insurance company for his kind co-operation and valuable suggestions for conducting the study successfully and enabling me to do my summer training.

Finally, I extended my warm thanks to all my coordinators who were involved with me during my internship training for their kind co-operation and help.

I express my deep gratitude to Director DR. H.P. Gupta for providing us such an educational environment. I am thankful to Head of department DR. TARUNA GAUTAM for spreading the knowledge about marketing research.

I am pleased to my internal guide, MR.G.D. SARDANA who has given me an opportunity to learn something practical by including internship program in the PGDM course.


This is to certify that the project report entitled ³study of sales & distribution and marketing of ICICI prudential life insurance´ done by the VIPRA RATHORE roll no. 9117, is an authentic work carried out by her at ICICI prudential life insurance, under my guidance. The report is submitted as partial fulfillment of the requirement of PGDM program at IME. The matter embodied in this project work has not been submitted earlier for the award of any degree or diploma to the best of my knowledge and belief.

Dated: MR.G.D.SARDANA FACULTY- IME Collage guide

In today¶s competitive job market, companies are spending a great deal of time, resources and money in ensuring-screening, interviewing and selection processes deliver high-quality candidates that will produce desired results.

Research has shown that job performance, job satisfaction and retention increase significantly an organization hires the ³right person for the position´.

People are a company¶s most important assets. They can make or break the fortunes of a business. In today¶s highly competitive business environment placing the right people in the right position is very critical for the success of any organization. In the current scenario the toughest challenge that any organization is facing is recruiting the best candidate in lowest rate.

Productivity can be increased by ensuring that the organization attracts the best talent at lowest possible costs. Hence organizations have to evolve methods not only to improve productivity but also to keep the costs down.

The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the best possible person-to-job fit that will, contribute significantly towards the Company's effectiveness. It is also becoming increasingly important, as the Company evolves and changes, that new recruits show a willingness to learn, adaptability and ability to work as part of a team. In this project I have studied ³study of sales & distribution and marketing of ICICI prudential life insurance company´.

I am privileged to be one of the students who got an opportunity to do my training with ICICI PRUDENTIAL LIFE INSURANCE. My involvement in the project has been very challenging and has provided me a platform to leverage my potential in the most constructive.


This internship, which was taken by me, on behalf of I.C.I.C.I prudential life Insurance company limited Etah, was mainly focused on marketing, sales and distribution network enhancement.

The idea was mainly focused on how the sales and distribution network can be enhanced by focusing on the right target group which can strengthen the company¶s foothold and can increase business and who are actually to become company¶s ambassadors in the common masses focusing and catering to the business customers of the company

The sales and distribution network as said here refers to the insurance advisors who on behalf of the company promote company¶s products among the customers and create awareness for the company¶s image.

The company as having the largest sales force after life insurance corporation of India follows a strict code of recruitment as the advisors or the sales persons as they are going to be company¶s advisor¶s ambassadors as said earlier.

The project not only emphasized on enhancing marketing, sales and distribution network or the Sales force but also understanding the human psychology regarding insurance and about I.C.I.C.I prudential. The project was done in Etah.

SL. NO. 1.

PARTICULARS INTRODUCTION (1.1) Organization History (1.2) Mission, vision and values (1.3) policy and products of ICICI (1.4) Need of the study (1.5) Scope of the study (1.6) Awards and Achievements



RESEARCH METHODOLOGY (3.1) Research Objective (3.2) Research Method (3.3) Research Design (3.4) Methods of Data Collection (3.5) Sample Size (3.6) Hypothesis of the Study (3.7) Limitation of the Study


Descriptive work of my Sub-Topics (3.1) What is Insurance (3.2) Need of the Insurance (3.3) Insurance Reforms (3.4) Types of plans and policies (3.5) Product Segment


DATA ANALYSIS AND INTERPRETATION (4.1) Data Analysis (4.2) Findings

5 6. 7. 8. 9. 10.


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 the United Kingdom. ICICI prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from insurance regulatory development authority (IRDA). ICICI prudential¶s equity base stands at Rs 47.80 Billion with ICICI bank and prudential plc holding 74% and 26% stake respectively. For the period April- December, 2005, the company garnered Rs 1,430 Crore of new business premiums for a total sum assured of Rs 15,170 Crore and wrote 497,765 policies. For the past four years, ICICI prudential has retained its position as the no. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit ICICI prudential is also the only private life insurer in India to receive a national insurer financial strength rating of AAA (IND) from Fitch ratings. The AAA rating is the highest credit rating, and is a clear assurance of ICICI Prudential¶s ability to meet its obligations to customers at the time of maturity or claims. ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in over 116 cities and towns in India, stretching from Bhuj in the west to Guwahati in the east, and Amritsar in the north to Trivandrum in the south. The company has 24 Banc assurance tie-ups, having agreements with ICICI bank, bank of India, federal bank, south Indian bank, Ernakulum bank, Lord Krishna bank and some co-operative banks, as well as about 290 corporate agents and brokers. It has also tied up with Ngoc, Mfis and corporate for the distribution of rural policies and organizations like dhan for distribution of salaam Zindhagi, a policy for the socially and economically underprivileged sections of society. ICICI prudential has recruited and trained more than 2, 58,000 insurance advisors to interface with and advice customers. Further, it leverages its state-of-the-art it infrastructure to provide superior quality of service to customers.

Established in 1848, today prudential plc is a leading international financial services company with some 21 million customers, policyholders and unit holders and some 23,000 employees worldwide. In the UK prudential is a leading life and pensions provider with around seven million customers. M&G was acquired by prudential in 1999 and is the group's UK and European fund manager, responsible for managing over £149 billion (as at 31 December 2005). Launched by prudential in 1998, egg is an innovative financial services company, with over 3 million customers with a market share of 5% of UK credit card balances. In Asia, prudential is the leading European life insurer with life and fund management operations in 12 Countries serving some seven million customers. In the US, prudential owns Jackson national life, a leading life insurance company, and has more than 3 million policies and contracts in force.


The ICICI Prudential life Insurance Company Lited Board comprises reputed people from the finance industry both from India and abroad.

MR. K.V. Kamath, Chairman Ms. Chanda Kochhar, Director Mr. Barry Stowe, Director Mr. Adrian O Connor, Director Prof. Marti G. Subrahmanyam, Director Mr. Mahesh Prasad Modi, director Ms Rama Bijapurkar, Director Mr. Keki Dadiseth, Director Ms. Shikha Sharma, Managing Director Mr. N.S. Kannan, Executive Director Mr. Bhargav Dasgupta, Executive Director

The ICICI Prudential life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad.

Ms. Shikha Sharma, Managing Director & CEO Mr. N.S. Kannan, Executive Director Mr. Bhargav Dasgupta, Executive Director MS. Anita Pai, Executive Vice president ± Customer Service & Technology Dr. Avijit Chatterjee, Appointed Actuary Mr. Puneet Nandha, Executive Vice president & Chief Investment officer


To make ICICI prudential the dominant life and Pensions player built on trust by world-class people and service. This we hope to achieve by:

y Understanding the needs of customers and offering them superior products and service. y Leveraging technology to service customers quickly, efficiently and conveniently. y Providing an enabling environment to foster growth and learning for our employees.

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.


Every member of the ICICI prudential team is committed to 5 core values: integrity, customer first, Boundary less, ownership, and passion. These values shine forth in all we do, and have become the keystones of our success.


ICICI Prudential Life Insurance offers a range of innovative, customer-centric product that meets the needs of customers at every stage.

Save µn¶ Protect  Cash back.  Life Time Gold  Life Stage RP  Life Link Super  Premier life Gold.  Invest Shield Cash Back.


Pure protect  Life Guard  Home Assure  Life Stage Assure

Smart Kid New ULRP


Forever Life  Life Time Super Pension  Life Stage Pension  Life Link Super Pension  Immediate Annuity


Health Assure Plus  Cancer  Hospital Care  Crisis Cover  Diabetes Care Active  Medi Assure  Health saver

ICICI Prudential also offers group insurance solution for companies seeking to enhance benefit to their employees.  Group Gratuity Plan  Group Superannuation Plan  Group Immediate Annuities

ICICI Prudential Life Insurance offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer.  Accidental & Disability Benefit  Critical Illness Benefit  Wavier of premium  Income Benefit Ride

Theory and practices are the two aspects of management education and in order to produce a promising executive, the two have to be blended. In India the practical training in the domain of management course has received pivotal Importance. It provides the knowledge acquired and at the same time supplement their theoretical knowledge with practical experience. It gives exposure to the actual work situation and environment and it also provides an insight into what practically goes on in the real business world. The project (Sales, Distribution and Marketing of ICICI Prudential) is done as a summer internship project. The project gave me the opportunity to know about the Sales Distribution and Marketing of ICICI Prudential Life insurance processes practiced at ICICI Prudential and are it effective to the Organization

Scope of the study: 
The study is on the profile of the organization  To identify the need of insurance  To know about the selling/marketing of the insurance  To analyze the distribution of the insurance 

To enhance the selling & marketing of insurance in the company.

Awards & Achievements

India's Most Customer Responsive Insurance Company. AGC Networks - Economic Times, Customer Responsiveness Awards, 2010.

The International Council of Customer Service Organizations (ICCSO) recently awarded ICICI Prudential Life the International Service Excellence Awards 2009 in the categories of Customer Charter ± Winner, Service Excellence in Large Business ± Highly Commended and Customer Service Leader awarded to Ms. Priya Nayak, VP-Service Quality

ICICI Pru Life ranked as the Most Trusted PVT Life Insurance brand in the Brand Equity "Most Trusted Brands 2009" survey

ICICI Prudential Life was awarded the Life Insurance Company of the Year at the12th Asia Insurance Industry Awards 2008.

Most trusted private life insurer: the economic times - a c Nielsen survey of most trusted brands ± 2004

Best life insurer 2003: outlook money awards 2003-04 IMM award for excellence: institute of marketing & management


Organization with innovative HR practices: Indira Group of Institutes


TITLE OF THE STUDY: To Study of the Sales, Distribution and Marketing of the ICICI Prudential Life Insurance.

ORGANISATION OF THE STUDY: Organization of the study at ICICI Prudential Life Insurance.



Marketing means movements of goods through distribution channel. Through marketing consumers are made to understand the quality and usefulness of the products. Marketing is a comprehensive activity, as quantum of sales depends largely upon marketing.


Sales mean supplying goods to the products. Sales take place in the minds of the buyer after the products are made known to them through marketing. Hence, marketing and selling are interrelated. In my opinion, marketing is more important than sales because without marketing first sales cannot take place.

Channel Marketing support to tied agents Certificates

These are awarded to top performing advisors for their contribution to sales of pension plans, unit linked plans and sales to high net worth individuals. It is a source of instant gratification to the sales team for their performance.

The corporate banner was designed for the launch of the church gate branch. it can be used to provide corporate brand visibility for similar occasions.

Backdrop for exhibition stall
This backdrop was designed to provide corporate brand visibility for the exhibition stall at sakal in Pune. It can be used for forthcoming personal finance exhibitions that we participate in.


Marketing research can be classified in one of three categories: y y y Exploratory research Descriptive research Causal research

Exploratory Research:
Research is exploratory when you use no earlier model as a basic of your study. The most usual reason for using this approach is that you have no other choice. Normally you would like to take as an earlier theory as a support, but there perhaps is none, or all available models come from wrong contexts.

There are two basic types of descriptive research:

Longitudinal studies:

are time series analyses that make repeated measurements of the same

individuals, thus allowing one to monitor behavior such as brand switching. However, longitudinal studies are not necessarily representative since many people may refuse to participate because of the commitment required.

Cross sectional studies: sample of the population to make measurements at a specific point of
time. A special type of cross sectional analysis is a cohort analysis, which tracks an aggregate of individuals who experience the same event within the same time interval overtime. Cohort analyses are useful for long term forecasting of product

Descriptive Research: (who, what, where, how)
Designed to provide further insight into the research problem by describing the variables of interest can be used for profiling, defining, segmentation, estimating, predicting, and examining associative relationships. The descriptive research is to provide an accurate description for something that is occurring. For example, what age group is buying a particular brand, a product¶s market share within a certain industry, how many competitors a company faces, etc? This type of research is by far the most popular form of market research. It is used extensively when the research purpose is to explain, monitor and test hypotheses, and can also be used to a lesser extent to help make predictions and for discovery.

Causal research: (If then)
Designed to provide information on potential cause-and-effect relationships most practical in marketing to talk about associations or impact of one variable on another. This research is Descriptive Research as this research is based on secondary data collected.

Researcher has two options in order to collect the data. He can gather secondary data, Primary data or both.

Primary data are data that freshly gathered for a specific purpose or for a specific research project. The primary data is collected through the systematic market research survey. This survey conducted through questionnaire, which have predefined specific objective questions. The 162 respondents are contacted within the Etah city. Again the informal interview is also taken for more in-depth to topic to the same respondents.

Before going through the time and expenses of colleting primary data, one should check for secondary data that previously may have been collected for other purposes but that can be used in the immediate study. Secondary data may be internal to the firm, such as sales invoices and warranty cards, or may be external to the firm such as published data or commercial available data. The government census is a valuable source of secondary data.

The secondary data are data that were collected for another purpose and already exist somewhere. The secondary I used in my research are from the following Books and sites: The data collected from the following websites,


Research objectives: 
To study the consumer preference for life insurance in general.  To better know how the consumer¶s profile affects the investment decision in insurance.  To understand the positioning of life insurance products.

Sample Size:
The size of the sample accepted generally is 164 people. But size varies from the situation to situation and with the researcher¶s satisfaction. The sample size is true representative of the universe. Because of the Limited time factor and for Convenience.

Target Group:

Period of the Study:
The entire period of the data collection was done from June 6th to July 22th.

ICICI Prudential Life Insurance Company ranks first among private sector insurance company in India.  ICICI Prudential has one of the largest distribution networks among private sector insurance companies in India. 

ICICI Prudential understands the need of customers and offers them superior products and services.  The marketing group of ICICI Prudential is very effective and one of the best.  ICICI Prudential offers a great variety of insurance plan and policies to fulfill needs of its different custom

Limitations of the study: 
As this study is based on sample survey, therefore there might be chances of some little variation from census survey.  Some of data are highly sensitive, therefore some of respondents might give wrong information about their personal detail viz. Income.  This survey is conducted within Etah city; therefore it might not be generalized for other cities.


What is Insurance

Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party happening of a certain event. Insurance is a protection against a financial loss arising on the happening of an unexpected event. Insurance companies collect premium to provide for this protection. A loss is paid out of this premium collected from the insuring public. The Insurance company act as a trustee to the amount collected through premium. Insurance is generally classified in three main categories, (I) Life insurance, (II) Health insurance and (III) General insurance To get insurance an individual or an organization can approach to an insurance company directly, through insurance agent of the concerned company or through intermediaries.

Needs of insurance: 
      Superior to an ordinary savings plan as it provides full protection against risk of death. Encourages and forces compulsory savings unlike other saving instruments, wherein the saved money can be easily withdrawn. Provides loan to tie over a temporary difficult phase and is also acceptable as security for a commercial loan. Offers tax relief to policyholders. Hedges risk against uncertainty. For a policy taken under the MWP Act 1874, (Married Women's Property Act), a trust is created for wife and children as beneficiaries. Based on the concept of sharing of losses, the society will benefit as catastrophic losses are spread globally.


Life brings with it many surprises, some pleasant and some not so and a Life Insurance Plan ensures that you are better prepared to face uncertainties. In a number of ways:

You need life insurance to be there and protect the people you love, making sure that your family has a means to look after itself after you are gone. It is a thoughtful business concept designed to protect the economic value of a human life for the benefit of those financially dependent on him. That is a good reason. Supposing you are suffered by an injury that keeps you away from earning? Would you like to be a financial burden on your family, already losing out on your salary? With a life insurance policy, you are protected. Your family is protected.

Life insurance makes sure that have regular income after retire and also helps to maintain standard of living. It can ensure that your post-retirement years will be spent in peace and comfort.

Saving and Investment:
Insurance is a means to Save and Invest. The periodic premiums are like Savings and you are assured of a lump sum amount on maturity. A policy can come in really handy at the time of your child¶s education or marriage besides, it can be used as supplemental retirement income.

Tax Benefits:
Life insurance is one of the best tax saving options today. Tax can be saved twice on a life insurance policy-once when you pay your premiums and once when you receive maturity benefits. Money saved is money earned.

Benefits of Insurance:
Insurance is the instrument of security, saving and peace of mind. It provides several benefits by paying a small amount of premium to insurance company as: y Safeguards oneself and one's family for future requirements. y Peace of mind-in case of financial loss.

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

In April 1993 a committee on reforms in the insurance sector (cris) was set up under the chairmanship of late Shri. R.N Malhotra, former governor of the reserve bank of India. The committee had wideranging terms of references. It was required to review the existing setup and make suitable recommendations for internal reforms and recognition of existing players; to review the overall structure of the insurance industry as such, including the general framework of policy, keeping in mind the structural changes that were under way in the overall financial system and economy. To make Recommendations for a modern and strengths. Insurance regulatory in system in tune with the Emerging scenario.

Insurance in India The phases:
PRE NATIONALIZATION: life insurance business prior to 1956 and general insurance business prior to1973 was in the private sector, transacted by several Indian and foreign companies. there appeared in the vision inadequate will to develop insurance as a premier national service sector in which service would be available in the knocks and needs based low cost covers would be designed .the nationalization of insurance sector, therefore, become necessary and Relevant in the prevailing in The then prevailing socio-politico-economic environment in the country.

Nationalization phase: nationalized insurance sector acquitted itself commendably in some of the major recommendations were:

Entry of private sector in insurance business. Entry of foreign insurance company in joint venture with Indian partners. Life and non-life insurance business to be transacted by separate distinct company. The minimum paid up capital to be Rs 100crore. Establishment of strong and effective insurance regulatory authority.

The regulatory authority to be in place before entry in new players.The current set-up: with opening up of the insurance sector for private participation in the year 2000, private insurance companies mostly together with a foreign joint venture partner have entered into the non-life insurance market. There are six public sector companies including agriculture insurance companies and eight companies in the private sector.

The business of insurance done by insurance companies (13 private and 1 public), called insurers is to bring together persons with common insurance interests (sharing the same risk), collecting the share or contribution (called premium) from all of them and paying out compensation (called claim) to those who suffer.

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. Life insurance is universally acknowledged to be an institution, which eliminates 'risk' and provides the timely aid to the family in the unfortunate event of death of the breadwinner. The contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or at unfortunate death, if it occurs earlier. 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

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. in the year 1999, the insurance regulatory development act (IRDA) was passed in Indian parliament. By this act a door was open for private companies with foreign equity life insurance. By this act an Indian promoter can invest either wholly in an Insurance venture or team up with a foreign insurer, with a cap of 26 percent of equity for a foreign partner.

List of private Insurance Companies.
Insurance Industry in the year 2000-2001 had 16 new entrants, (foreign players entering the Indian Insurance sector with their Indian partners)

Life Insurance list:

S.No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Date of the Re registration 101 104 105 107 109 110 111 114 116 117 23.10.2000 15.11.2000 24.11.2000 10.01.2001 31.01.2001 12.02.2001 30.03.2001 02.08.2001 03.08.2001 06.08.2001

Name of the company HDFC standard life Insurance company Ltd. Max New York life Insurance co. Ltd. ICICI prudential life Insurance company Ltd. OM Kodak Mahindra life Insurance co. Ltd. BIRLA sun life Insurance company Ltd. TATA AIG life Insurance company Ltd. SBI life Insurance company Ltd. ING Vysya life Insurance company pvt. Ltd. Allianz Bajaj life Insurance company Ltd. MetLife India Insurance company pvt. Ltd.

India is the largest democracy in the world having a population more than one billion. It is 5th largest in the world in terms of purchasing power parity (PPP). India GDP growth rate is over 6 percent per year on average for the last decade and saving rate is around 26 percent of GDP. Through India's economic development, it becomes the most lucrative insurance markets in the world. before the year 1999 there were monopoly of state run life insurance corporation of India (LIC in life insurance sector and general insurance corporation of India (GIC) with its four subsidiaries in general

sector. in the wake of reform process and passing insurance regulatory development act (IRDA) through Indian parliament in 1999, Indian Insurance was opened for private companies.


Insurance industries in India have a long history. Life insurance in existing form came in India from UK in 1818 with oriental life insurance company. The Indian life assurance companies act, 1912 was the first measure to regulate life insurance business. Later in 1928 the Indian Insurance companies act was enacted, which was amended in 1938. Finally government of India amended this act in 1950. Life insurance Corporation of India was formed in September 1956 by passing LIC act, 1956 in Indian parliament. The first general Insurance company, triton Insurance company Ltd. was established in Calcutta in 1850. In 1957 the general Insurance council a wing of Insurance association of India formed a code of conduct. In 1961 an insurance act was passed to form general insurance company ltd., which was amended in 1968. The general insurance business act nationalized general insurance business with effect from 1.1.73. From 1973, the general insurance company (GIC) as a holding company divided in four subsidiaries as: national insurance company ltd., the new India assurance company Ltd., The oriental insurance company ltd. and the united assurance company Ltd.

As an Individual, for the extent of financial protection you need is different from that as a married man which in turn is different from that as a parent. At each life stage, It is necessary to re-evaluate the amount of protection and provision you require and adjust for the same.

Below are some of the events in your life for which you should re-evaluate and plan your life insurance needs.

Marriage birth of a child schooling of child college education of child marriage of child

The main purpose of life insurance is to provide a financial cushion to your loved ones in the event that something unfortunate should happen to you. One must provide enough, so as to generate a future income stream that will take care of the financial needs of their dependants. How much insurance you need depends on your annual income, your expenses and your existing assets. Use our Insurance calculator to get a rough estimate of how much you should insure yourself for.

Concept of human life value
Generally speaking, one can estimate the extent of life insurance by calculating one's "human life value" (HLV). This is the net present value of one's future earnings. Put simply, it is the amount that a person's family would permanently lose, should anything unfortunate happen to that person. As a thumb rule, a 30-year old should insure oneself for about 8 times his or her annual income. This is about 6 times. Of course, the exact amount must be adjusted according to the number of dependents, existing investments and one's life stage. For instance, if at 30, a person has two children and parents to provide for, the amount of insurance should also be higher. You can calculate your human life value by multiplying your current annual income with the number of years remaining for your retirement.

Let's assume that you are 30 years old and you earn Rs. 4, 00,000 Per Annum. Now, if your retirement age is 55 you have 25 years to go before retirement. So your human life value is (25 x 4, 00, 000) = Rs. 100, 00, 000 (one Crore rupees). So, your present human life value is one Crore rupees, provided you stay healthy. If you take factors like inflation and increase in income over a period of time into account, your human life value is a lot more.

Insurance Plans:

ICICI Prudential has a wide range of Insurance plans that have been designed with philosophy that different individuals are bound to have differing insurance needs. The ideal insurance plan is one that addresses the exact insurance needs of the individual t will depend on the age and life stage of the individual apart from a host of other factors.

Life Insurance Plans:
Under Life insurance plans, ICICI Prudential offers plans under the following major need categories: 


Education Insurance Plans Wealth Creation Plans Protection Plans

Pension & Retirement Solutions:
The primary objective of a pension plan is to help you provide for your financial needs in your post retirement years. You will find a Pension Planning Calculator on the site, meant to make your pension plan review as simple as possible. The calculator is the first step in your Pension Plan scheme; there are other steps towards getting the Indian pension policy you need.

ICICI Pru Lifetime Pension Maxima ICICI Pru Life Stage Pension Advantage ICICI Pru Elite Pension II ICICI Pru Assure Pension ICICI Pru ForeverLife ICICI Pru Immediate Annuity

Health Product Suite:
Under Health Product Suite, ICICI Prudential offers plans under the following major need categories:

Hospitalizations Plans
y y

MediAssure Hospital Care II

Critical Illness Pans
Crisis Cover


Linked products:
As the name suggests, the premium received on these products post mortality charges is invested in funds. These products are directly linked to of underlying fund e.g. life time super.

Pension products:
A pension product is one which provides for retirement benefits e.g. pension, annuities.

Universal life product:
A universal life product where the capital amount is invested in the insurance plan is guaranteed. E.g. Secure plus, cash plus etc.

Group products:
A group policy as the name suggests is a policy which covers a group of people e.g. a policy taken by the organization which covers all the employees.

Rural products:
Rural products are customized to the requirements of the rural sector. it¶s a regulatory obligation on every insurance company to source a certain percentage of the business from the rural sector.

Other policy related terms

Jet cases
For every insurance cases there are certain medical tests required to warrant the fitness of the assured person. But the assured already fulfills certain set criteria, and then an insurance policy can be issued to him even without a medical test. These tests are called jet cases.

Non jet cases
At the cases which do not fall within the set criteria can be defined as the jet cases are called non jet cases.

Life cover
Life cover is the part on which the cost insurance is charged, the cost of insurance here is the mortality cost. Life cover at any point of time during the tenure of the policy is; Life cover = sum assured at the point of time ± value of units at that point of time.

Extended life cover
After the maturity of the plan of the policy holder is provided free cover for 50%of the basic sum assured that he had taken for next 5 years.

Death benefits
Benefits paid in a life insurance policy in life cover in the event of the life assured passing away during the term.

Life assured
Person who is assured under the plan.

Guaranteed additions
Guaranteed additions are the ones that the insurer adds to the sum assured.

Individual that has the potential to purchase a life policy.

The person who buys the policy i.e. proposer and the life assured can be the same person or may be different.

The custodian to the claim ± may or may not be the right owner to the claim money.

The Right successor to the claim.

Riders are the features attachable with a main policy which provides added protection against specific risks at little extra cost.

Underwriting is a process of estimation of the risk assumed under a policy. it forms the basics of the premium charge for a given sum assured.

Mortality charges
Mortality charges are the risk charges that are levied on the life cover part to provide the protection benefit to the policyholder.

Insurance solutions for individuals ICICI prudential life insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 5 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¶n¶protect is a traditional endowment savings plan that offers life protection along with adequate returns. Cash back is an anticipated endowment policy ideal for meeting milestone expenses like a child¶s marriage, expenses for a child¶s higher education or purchase of an asset. Lifetime & lifetime offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options? Preserver, protector, balancer and maximize. Lifeline ii is a single premium market linked insurance plan which combines life insurance cover with the opportunity to stay invested in the stock market. Premier life is a limited premium paying plan that offers customers life insurance cover till the age of 75. Invest shield life is a market linked plan that provides capital guarantee on the invested premiums and declared bonus interest. Invest shield cash is a market linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with flexible liquidity options. 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 solutions

Life guard is a protection plan, which offers life covers at very low cost. it is available in 3 options? Level term assurance, level term assurance with return of premium and single premium. Homes assure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner.

Child plans
Smart kid education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child¶s life. Smart kid plans are also available in unit-linked form? Both single premium and regular premium.

Retirement solutions
Forever life is a retirement product targeted at individuals in their thirties. Secure plus pension is a flexible pension plan that allows one to select between 3 levels of cover.

Health solution
y Health assure: is a regular premium plan which provides long term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses. y Health assure plus: is a regular premium plan which provides long term cover against 6 critical illnesses by providing financial assistance, irrespective of actual medical expenses, as well as an equivalent life insurance cover.

Cashbak: ICICI prudential life insurance company limited, India¶s no.1private life insurance
company, offers you cashbak ± a single plan that combines the triple benefit of protection, savings and liquidity.

What is cashbak?
Cashbak is a fixed term policy of 15 or 20 years, in which premiums are payable by you throughout the term of the policy. In turn survival benefit payments are made to you at regular intervals, to provide you with liquidity. Full sum assured, along with the guaranteed additions at the rate of 3.5% compounded annually for the first 4 years and the vested bonuses would be payable on death, irrespective of the survival benefits paid.

How does cashbak work?
The survival benefits payable are as per the table shown above. On the death of the life assured, the beneficiary will get the full sum assured, the guaranteed bonuses and the vested bonuses, irrespective of the survival benefits already paid.

Who can apply?
You can apply if you are 16 years old and no older than 55 years. The minimum sum assured is Rs. 75,000. You have the option of paying yearly, half-yearly, quarterly or monthly premium. Critical illness rider: Accident and disability benefit: Accident benefit rider:

Cash plus How does cash plus provide you with protection?

Cash plus offers you three levels of cover (in the form of sum assured) for the same amount of total annual contribution. You have the option to choose amongst basic, standard and enhanced level of cover, as given below: Basic (term-5) x annual premium Standard (term) x annual premium Enhanced (term+5) x annual premium. You have the flexibility of shifting between the three levels of cover (as per your changing requirements). For each level of sum assured, applicable mortality charges will be deducted.

Who can apply for cash plus?
Any person up to 60 years of age can apply for cash plus. The maximum age at which cover ceases is 75 years. The minimum term of the product is 10 Years and the maximum term are 30 years. Cash plus has a minimum annual premium ofrs.8, 400, a half-yearly premium of rs.4, 200 and monthly premium is rs.700. For extra protection, cash plus offers the add-on Value of the following riders:

critical illness rider (accelerated): accident and disability benefit rider: accident benefit rider: income benefit rider: waiver of premium rider.

Critical illness rider
This rider provides protection against 9 critical illnesses, namely: major organ transplants, complete renal failure, stroke, paralysis, Heart attack, valve replacement surgery, major surgery of the aorta, cags (bypass) and cancer. If you are diagnosed with any of the specified illnesses, then you will be paid the entire sum assured under the rider. The policy along with all the riders (to the extent of the rider sum assured) is then terminated. However, the remainder of the base policy continues till the end of the term. You will have to continue

Who can apply?
You can apply if you are no older than 60 years. The maximum cover ceasing age is 70 years. The minimum sum assured you should apply for isrs.50, 000 and the minimum term is 10 years. The minimum premium under this plan is Rs. 6000.

Life time How do I start? How does the plan work?
Open an account with a minimum premium of... Rs. 18,000/- p.a. for annual mode Rs. 9,000/- per half year for half-yearly moderns. 1,500/- per month for monthly mode you can choose a specified level of protection according to your need. Part of the premium paid is adjusted towards mortality and administrative charges and the rest is invested in the plan of your choice. Entry into the plan will be based on the unit value of the plan applicable on the date of policy.

Benefits: Death benefit: In the unfortunate event of death, your close ones are spared an uncertain future.
Our guaranteed death benefit ensures that the nominee / s will receive the higher of either the death benefit chosen (less any withdrawals) or the value of the units.

Liquidity option: There is no maturity date. Anytime after3 years of commencement (provided
you have paid premium for 3 full years) you can make partial or complete withdrawals, at no penalty, to meet your immediate requirements. choice to switch between investment options choice of a top-up premium holiday option premium allocations: Annual administrative and fund management.

The premium allocation would-be based on the annual contribution limits. The yearly allocation schedule would be as follows: the annual administrative and fund management for the four funds are a percentage of the net asset value (NAV). The charges are as follows:

What are the charges?
Contribution range 1st year 2nd year 3rd year onwards18, 000-49,999 80% 92.5% 96%50,000 and above 82% 92.5% 96%.

Age at entry:
Minimum age at entry: 0 years Maximum age at entry: 60 years (completed years)

Life link super
ICICI prudential life insurance now presents lifeline super - a unique, single Premium unit-linked investment-cum once Insurance solution. It offers attractive Premium allocation along with flexible investment options to give you. The Opportunity to enjoy potentially high return son your investments, without compromising on the protection of your family.

Single premium:
A one-time payment in order to subscribe to the policy.

Fund value:
This is the product of the total number of units under this policy and the net asset value (NAV) per unit as on that date.

Partial withdrawals:
Any part of the fund that is encased / withdrawn by the policy holder during the policy term.

Terms you need to know how the policy works.

Benefits in detail: You can choose the single premium amount you want to invest. After
deducting premium allocation charges, the balance amount is invested in the fund(s) you choose. The policy term is the difference between 70 years and your age at entry.

Sum assured: following two options:
Are available for choosing the sum assured under the policy. Sum assured of 125% of single premium amount! Sum assured of 500% of single premium amount.

Death benefit:
In case of the unfortunate event of death during the term of the policy, your nominee will receive the higher of fund value or sum assured, adjusted for partial.

Minimum premium under the policy:
The minimum premium under the policy would be related to the age of the individual, as follows.

Age band min. Prem:
Up to 44 years Rs. 25, 000, 45 years & above Rs. 50,000

What are the entry conditions?
Minimum age at entry: 0 year Maximum age at entry: 65 years age at policy maturity: 70 years Minimum policy term: 5 years

Life link pension ii
When it comes to planning for retirement, you need a solution that offers you peace of mind by providing you with the power to invest and earn. In short, you need a pension plan that offers financial protection and higher pension. That¶s why; we now present life link pension ii. This is a single premium, unit-link preferred pension plan that gives you the power to choose your investment fund and the flexibility to add to your retirement kitty with

Advantages of lifeline pension ii At-a-glance

Single premium payment with attractive premium allocations for accumulation of your retirement kitty. Choose from four investment funds to invest your money, based on your risk profile. You can switch between the funds. (4 free switches in a year) to take advantage of market movements. Top-up facility to invest additional funds for increasing your retirement savings. Facility to take up to one-third of the accumulated value as a lump sum payment, at the time of retirement. This can help to take care of your immediate financial requirements. 5 flexible options to receive your retirement benefits. Applicable tax benefits on premium paid for tax-effective accumulation.

How does life link pension ii work?
1. The first phase is the accumulation phase when you pay premium into the policy and accumulate savings for your retirement. 2. The second phase is the annuity (pension) phase when you start receiving pension from the accumulated amount via your Chosen annuity option. During the accumulation phase, you enjoy the freedom to choose the amount of premium and invest it in market-linked funds to generate potentially higher returns. on the retirement date, the accumulated value of the units will be equity-linked securities as well as in fixed income securities.

Death benefits
In case of death before retirement, value of the units at the time of death will be paid to your nominee.

Life guard
Under this plan, in case of death of the life assured during the term, the sum assured will be paid to the beneficiary. There are no maturity benefits. Hence on survival till maturity, the policy will terminate. You will need to pay the regular annual premium, for the term chosen. You will be provided with life cover equal to the sum assured. The table below provides indicative premiums for various age-term combinations for a sum assured of Rs. 10 Lakhs. Should you select this plan, you will need to pay a regular annual premium for the term chosen. You will be provided with life cover equal to the sum assured. In case of death of the life assured during the term, the sum assured under the plan will be paid to the beneficiary. On survival till maturity, all the premiums paid, will be returned. The plan also offers the unique feature of an additional extended cover for 5 years after maturity of the policy, for 50% of the sum assured. This provides additional protection, even after the premium paying term. The table below provides indicative premiums for various age-term combinations for a sum assured of Rs. 10 Lakhs.

Level term assurance with return of premium

Extended life cover
Each premium indicated has been calculated on an annual premium basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Term of the policy
5 years 10 years 15 years 20 years 30 years Rs. 2,751 Rs. 2,751 Rs. 2,751 Rs. 2,751 35 years Rs. 2,878 Rs. 2,878 Rs. 2,947 Rs. 3,446 40 years Rs. 3,917 Rs. 3,917 Rs. 4,299 Rs. 5,014 Each premium indicated has been calculated on an annual premium basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Term of the policy
10 years 15 years 20 years 25 years 30 years Rs.32, 195 Rs.15, 642 Rs.10, 860 Rs.9, 047 35 years Rs.37, 193 Rs.19, 170 Rs.13, 927 Rs.11, 928 40 years Rs.46, 130 Rs.24, 952 Rs.18, 631 Rs.16, 230

Single premium who can apply?
This is a single premium variant of the lifeguard level term plan. You will need to make a one-time Premium payment, depending on the term and sum assured chosen by you. The minimum sum assured is Rs. 2.5 Lakhs. In case of death of the life assured during the term, the sum assured under this plan will be paid to the beneficiary. There are no maturity benefits, at the end of the term. The table below provides indicative premiums for various age-term combinations for a sum assured of Rs. 10 Lakhs. Applicants should be between 18 and 55 years of age. The minimum term is 5 years and the maximum term is 30 years, which is subject to a maximum of 65 years of age. The minimum premium payable is Rs. 2,400 per annum. Applicants should be between 18 and 55years of age. The minimum term is 10 years and the maximum term is 30 years, which is subject to a maximum of 65 years of age. The minimum premium payable is Rs. 2,400 per annum. Applicants should be between 18 and 55 years of age. The minimum term is 3 years and the maximum term is 15 years, which is

For lifeguard level term assurance:
For lifeguard level term assurance with return of Premium:

For lifeguard single premium:
Each premium indicated has been calculated on an annual premium basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Term of the policy
y y 3 years 5 years 7 years 10 years 30 years rs.6,930 rs.10,400 rs.13,810 rs.18,300

y y

35 years rs.7,590 rs.11,740 rs.16,090 rs.22,070 40 years rs.9,400 rs.14,950 rs.20,740 rs.28,960

Premier life
How does premier life work for you? How do I start? You can choose a specified level of protection according to your need. Part of the contribution paid is adjusted towards mortality and administrative charges and the rest is invested in the investment option of your choice. Entry into the plan will be based on the unit value of the investment option at that time. Your policy value is based on the value of units allotted to you. Open an account with a minimum contribution of Rs. 60,000 per annum for annual premium payment Rs. 30,000 per half-year for half-yearly premium payment. 5,000 per month for monthly premium payment the death benefit will be higher of the sum assured (decreased by the amount of withdrawals made) or value of units.rd partial withdrawals would be allowed after the 3 policy year and after payment of 3 years' premiums. Partial withdrawals would be subject to surrender value. Each partial withdrawal during the 4th and 5thyear would be limited to 20% of the value of the investments at the time of withdrawal. The minimum partial withdrawal amount has to be Rs. 10, a policy year, two withdrawals would be free. Any more than two withdrawals would be charged 0.25% of the withdrawal amount, subject to a maximum limit of Rs. 1,000.

A. Death benefit B. Liquidity C. Additional allocation of units

A. Choice of premium paying term
You can choose between the following premium paying term options: 3 year term 5 year term 7 year term 10 year term

B. Sum assured

The minimum multiple would be 1 and the maximum multiple would be 25 times the annual contribution. However, the minimum chosen sum assured at inception should be Rs. 1,00,000. You have the option to choose how you want your investments to grow based on the objectives of each of the plans. This plan helps you generate long-term capital appreciation from a portfolio that maximizes.

Smart kid unit linked plan
To bring your dreams to life, you need an investment that is designed to provide adequate money for key educational milestones in your child's life, no matter what happens. That¶s why we now present smart kid unit-linked single premium ii plan. This is a cost effective unit-linked plan with life insurance cover, to make a one-time lump sum investment for your child's future. You can also avail of flexible options to receive the benefits at key educational milestones.

Terms you need to know

The money you will have to pay toward the plan in order to subscribe to the plan and to enjoy the benefits under the plan.

Sum assured:
Amount of life insurance cover which will be paid in case of death, to your family/nominee.

Smart kid unit linked plan
To bring your dreams to life, you need an investment that is designed to provide adequate money for key educational milestones in your child's life, no matter what happens. That¶s why we now present smart kid unit-linked single premium ii plan. This is a cost effective unit-linked plan with life insurance cover, to make a one-time lump sum investment for your child's future. You can also avail of flexible options to receive the benefits at key educational milestones.

Who can purchase this policy?
As a parent aged between 20 and 50years, with children in the age group of 0 to15 years, you can purchase this policy.

What are the entry conditions?
Minimum single premium: Rs. 50,000. Choice of term: between 10 to25 years. The age of your child: between 22 at maturity to 25 years. Maximum age of the parent on maturity: 60 years. Minimum sum assured: Rs. 2, 50,000.

What are the charges of the policy?

Administrative charges: There would be an administrative charge of Rs. 20 per month to be
levied by cancellation of units.

Invest shield life:
At ICICI prudential, we constantly strive to understand your needs and provide solutions that help you plan your future better. In keeping with that endeavor, we present invest shield life, a regular premium unit linked plan with capital guarantee. Choose your term from 10 to 30 years and a minimum premium of: Rs. 8,000 per annum for annual premium payment Rs. 4,000 per half-year for half-yearly premium payment Rs. 667 per month for monthly premium payment

Death benefit
a) additional credits for policy holders in the unfortunate event of the death of the life assured, the nominee receives the sum assured along with the higher of the value of your unit fund or the guaranteed value of your unit fund*. however, the death benefit will be provided only if the premiums

due till date are paid in full.* for the life assured of age less than 7 years, only the higher of the value of your unit fund or the guaranteed value of your unit fund would be paid in case of death.

Maturity benefit:
You will receive a maturity benefit at the end of the policy term. This maturity benefit will be the higher of the value of your unit fund or the guaranteed value of your unit fund.

Add to your investment with top-ups:
You can top-up your investment any time you have surplus funds, provided all the premiums due are paid. The will not have any effect on the sum assured of the product. However, top-ups will not be allowed in the last3 years of the policy. The minimum amount of top-up is Rs. 2,500. The maximum top-up in a year can be an amount equal to 30 times the annual premium.

Cancer care:
Financial preparedness is, therefore, very critical in the fight to overcome cancer. And this is what icici prudential's cancer care plan helps you with. The plan keeps you financially prepared, so that you can focus financial preparedness is, therefore, very critical in the fight to overcome cancer. And this is what ICICI prudential's cancer care plan helps you with. The plan keeps you financially prepared, so that you can focus on getting better without worrying about the money. Through its extensive coverage of both early and advanced cancers, the plan provides the necessary financial resources so that you get the best possible medical treatment as early as possible, and maximize your chances of survival on getting better without worrying about the money. Through its extensive coverage of both early and advanced cancers, the plan provides the necessary financial resources so that you get the best possible medical treatment as early as possible, and maximize your chances of survival.

Premium required to buy 10 units (Rs.10 Lakhs = total benefit) under cancer care

Entry 65 years 70 years 25 Rs. 2,918 p.a. Rs. 3,428 p.a. 30 Rs. 3,232 p.a. Rs. 3,781 p.a.

35 Rs. 3,692 p.a. Rs. 4,437 p.a. 40 Rs. 4,555 p.a. Rs. 5,319 p.a. 45 Rs. 5,770 p.a. Rs. 6,681 p.a.

What is covered under cancer care?
Cancer care offers you coverage of both early stage and advanced stages of cancer. Early cancer is defined as cancer, which is localized and has not invaded the normal tissues beyond the basement membrane of the cell. Advanced cancer, on the other hand, is defined as malignant tumor (cancerous growth) in which the malignant cells spread and invade the normal, surrounding tissues. Also surgical, non-surgical or palliative treatment should have been initiated. Surrounding tissues. Also surgical, non-surgical or palliative treatment should have been initiated.

Stages in policy issuance

A proposal stage is the first stage before the policy is issued at cops. at this stage, the application form is received by cops, but is it is pending for issuance due to further clarifications required from the customers.

A proposal which is complete i.e., duly filled with all necessary documents attached to it & accepted by the branch ops is called a login.

An application gets rejected at the branch level due to necessary details not filled in the form is called reject.

Issuance means a policy that is issued to a customer by central ops.

A policy for which the customer fails to pay subsequent premiums is a lapsed policy.

When a customer wants to discontinue with the policy it is called surrender.

Being a student of corporate PGDM second semester of institute of management education, Ghaziabad as per the direction of the institute I have conducted a market research on ³market research to analyze investment portfolios in ICICI prudential life insurance company´

Process of Research:
For conducting research personal contacts for necessary actions for which a number of relevant questions in respect of the same can also not dispensed with in order to obtain a clear picture of the topic, following questions were formulated for obtaining concrete views of the individuals of different kinds. Personal contracts with 162 persons belonging to the age group of 18-65 out of which 45 were female 117 were male. In this 52 were government servants, 65 were businessmen, and 45 were professionals.

(1) How much amount of money do you invest annually? 10000-20000 30000-50000 20000-30000 more than 50000

S. N. 1 2

Amount Investing 10000-20000 20000-30000

Respondent 24 13


30000-50000 Above 50000 TOTAL

09 04 50



15 series 1 Series 2 10


0 10000-200000 20000-30000 30000-50000 above 50000


From the above graph we can say that 24 respondent invest between 20000-30000, where 13 respondent invest between 20000-30000. 9 Respondent invest between 30000-50000 and only 4 respondent invest above 50000.

Q. 2- Do you need a life insurance protection? Ans ± Life insurance is very necessary because there is no certainty of life any mishap can occur at any time. In this situation if the guardian of the family who supports the family dies untimely remaining members of the family may be compelled to face lot of problems. To compensate them life insurance policy may prove fruitful to that family in order to maintain stability in the family. Some people revealed that there is no need of life insurance protection because if we born it is god who will look after them. The survey of 162 people ensures that 82% people want the life insurance protection while 18% people did not want the life insurance protection.




Q 3- Do you know about ICICI Prudential life insurance? Ans - After the survey was conducted was conducted the result which used to come out is that in 162 people 92% people said that they know icici prudential 92% means 149 while 8% said that they don¶t know it 8% means 13 people. it means that people is very much aware about icici prudential





q 4- Are you using any product of icici prudential?


Customers Non Customers


Ans - In the survey of 162 people 67% people said that they are using the product of icici prudential i.e. 108 while 33% said that they are not using any product of life insurance i.e. 54.

Q 5- If yes, then what is the purpose of it? Ans - This question is directly related to the above one, 67% people are using the product of ICICI prudential the purpose is given below according to the percentage and number of the people.

S. no. 1. 2. 3.

Purpose tax saving purpose short term investment purpose business purpose

%age of people 7 18 8

No. of people 7 19 9

4. 5.

high investment return purpose life insurance purpose

35 32

38 35

35 30 25 20 15 10 5 0 %age of people
Tax Saving Purpose Short Term Investment Purpose Business Purpose High Investment Return Purpose Life Insurance Purpose

q 6 ± if no, then would you like to take any policy from icici prudential in future?

43% 57%


Ans - This question is also directly related to q-4 33% people said that they are not using any product of icici prudential i.e. 54 people. In this 54 people 57% said that they will use this product in future i.e. 31 people while 43% said they don¶t have any interest in icici prudential i.e. 23 people.

q 7- do you think that icici prudential has been successful in capturing the market in very short period? Ans - after conducting the survey what is revealed that 84% i.e. 136 people said that yes icici prudential has been successful in capturing the market in very short period while 16% i.e. 26 people said no.

people said yes, their opinion was that previously government policies like lic. was dominating in the society but today some private companies in this field are doing better in comparison to government policies because their return are better one. Red tapism laxity does not prevail in this life insurance



companies. In this way icici prudential has been successful in capturing the market in very short period. People who said no are mini minded they faith in government sector because there is no chance of losing their money. So that¶s why they don¶t want to adopt icici prudential policies.

Q 9- what are the ´critical success factors´ of icici prudential, according to you for achieving its goal in very short period ? Ans- Answer of this question is according to the percentage of people.

S.No. 1. 2. 3. 4. 5.

success factors customer satisfaction product benefit high investment return brand name of icici long channel of distribution

%age of people 29 21 19 25 6

No. of people 43 32 28 37 9

Brand Nam e of ICICI 25%

%age of people Long Channe l of Dis tributi Cus tom e on r 6% Satis facti on 29%

High Inve s tm e nt Re turn 19%

Product Be ne fit 21%

Q-10 which life insurance company you believe most? Ans - in this question the options for the people are government or private company. The answer is given in table given below:-

S.No. 1. 2.

Sector Government private

% of people 31 69

No. of people 50 112

Govt Sec Pvt Sec


Q-11 which plan you want most? Ans - after conducting the survey I had found that people want to invest the money with life insurance plan in order to get high return after getting the final result what I come to know people want to invest their money in life time policy because in this policy the rate of interest is very good. . S.No. 1. 2. 3. 4. Types of plan ULIP retirement plan child plan health plan % of people 53 19 16 12 no. of people 71 25 21 16

60 50 40 30 20 10 0


%of People






Child Plan

Health Plan

Q-12 How many insurance companies are you aware about? Ans - survey reveals that it is only and only lic. about which 100% people are aware about the reason is that lic. is existing from so many years. Percentages of other companies are given in the table below:-

S.No. 1. 2. 3. 4. 5. 6. 7.

insurance companies ICICI prudential LIC TATA AIG BAJAJ Allianz AVIVA HDFC standard life Birla sun life

% of people 92 100 18 84 32 72 25

no. of people 149 162 29 136 52 117 40

100 90 80 70 60 50 40 30 20 10 0
Insurance Companies %age of people North

CONCLUSION: After survey it¶s known:
That people want to invest in the ULIPs than other policy. The reason is that it gives reasonable return with lore safety than other plan of Private insurance players. People should be given more knowledge about the benefit of the insurance. As the trust on private player is less the company should work on the getting the full trust of all the insurance. From this internship I understood about the life insurance. The internship work has given me a deep insight of management of life insurance of different companies. it seems that to sell a life insurance policy is a hard nut to crack but if you are clear to your objective and the way, which get you to your destination no one, can stop you. In the end I want to say about ICICI prudential Life Insurance Company is that? Services of ICICI prudential are very transparent. It is available throughout the country. Customer satisfaction is the major intention from ICICI prudential.


People still doubt the private companies whether they safe or not. provide return or not and their money will

Company should improve the quality If the adviser so that they can provide full information to the customers.

People still investing in the bank FD and post. To capture that market company should come with the products, which are more safe and having good return capacity.

Company should also give more focus on professionals and the businessman who can be the more profitable for the company.

My summer internship started in flying colors as Mr. C. Senthil Vel, AFSM and Mr. NITIN GUPTA (DEVELOPMENT MANAGER) of ICICI Prudential Life Insurance, ETAH , who gave an excellent presentation about their organization and about Life insurance market in India. My summer internship structure for 1 ½ months was developed by Mr.Nitin Gupta as per his plan, he wanted to give us practical exposure of Life Insurance Industry. As per his plan he told me to join with F.S.C team. From the 1st day itself, I went to calls with the team. In the beginning days, I felt difficult in explain the policies but later on, I managed to explain about the policies. Many of the customers asked me ³Is it an insurance firm?´ as soon as I said that ³I am calling from ICICI PRUDENTIAL´ I cannot tell them anything rather than ³yes sir´ as soon as tell yes they said that ³I am not interested´. Some people will hear the whole story and will say that ³I am little busy with my work and call me later or tomorrow´. ³Many people were asking why I should take life policies´. I answered that ³to overcome risk sir´ their next question was ³what risk?´ I cannot tell them that ³if u dies it will be financial support to your family sir´


Firstly, I would make a call to the customer.  I request the customer to share a few minutes with me to know about the insurance plans available.  Depending on the age of the customer I inform him about the various plans that would suit him.  If he has any children I also explain him about the child plans available.  I clearly explain him about the Tax benefits which he will receive.  I also explain about the short term and the long term plans.  If he is interested I tell him that I would like to have an appointment with him at any convenient place to give more detailed information about the plans.



Business Research Methodology Author: Donald Cooper & Pamela Schindler Publisher: TATA - McGraw hill Year of Publication: 2003

Marketing Management Philip kotler Publisher : prentice hall Year of Publication : 2006


Q- 1 Do you know about the advantages of life insurance.



Q- 2 do you need a life insurance protection.



Q- 3 Do you know about ICICI prudential life insurance.



Q- 4 Are you using any product of ICICI prudential.



Q- 5 If yes, then what is the purpose of it.

y y y y y

Tax saving purpose Short term investment purpose Business purpose High investment returns purpose Life insurance purpose

Q- 6 If No, then would you like to take any policy from ICICI prudential in future.



Q-7 Do you think that your life insurance policy covers you and your liabilities? Yes No

Q- 8 Do you think that ICICI prudential has been successful in capturing the market in very short period.



Q-9 what are the ³critical success factors´ of ICICI prudential, according to you, for achieving its goal in very short period.


Customer satisfaction

B- Product benefit C- High investment returns DEBrand name of ICICI Long extensive channel of distribution

Q-10 which life insurance company you believe most 1- Government 2- private

Q-11 which plan you want most. 1- Life time 3- Child plan 2- Retirement plan 4- Health plan

Q-12 How many insurance companies are you aware about. ICICI prudential Bajaj Allianz Birla sun life LIC Aviva others Tata AIG HDFC standard life

Q-13 would you like to give your valuable suggestions to ³ICICI prudential´ for any specific improvement or further development.

Name: AGE:Occupation: (salaried/ professional/ businessman

Checklist of items for the Final Project Report
This checklist is to be attached as the last page of the report. This checklist is to be duly completed, verified and signed by the student. 1. 2. 3. 4. Is the report properly hard bound/Spiral bound. Is the Cover page in proper format as given in Annexure A? Is the Title page (Inner cover page) in proper format? (a) Is the Certificate from the Supervisor in proper format? (b) Has it been signed by the Supervisor? 5. Yes / No Yes / No Yes / No Yes / No Yes / No

Is the Abstract included in the report properly written within one Yes / No page? Have the keywords been specified properly? Yes / No


Is the title of your report appropriate? The title should be adequately Yes / No descriptive, precise and must reflect scope of the actual work done.


Have you included the List of abbreviations / Acronyms? Uncommon Yes / No abbreviations / Acronyms should not be used in the title.

8. 9.

Does the Report contain a summary of the literature survey? Does the Table of Contents include page numbers? (i). (ii). Are the Pages numbered properly? Are the Figures numbered properly? (Figure Numbers and Figure Titles at the bottom of the figures) (iii). Are the Tables numbered properly? (Table Numbers and Table Titles at the top of the tables) (iv). (v). Are the Captions for the Figures and Tables proper? Are the Appendices numbered properly?

Yes / No

Yes / No

Yes / No

Yes / No Yes / No Yes / No Yes / No


Is the conclusion of the Report based on discussion of the work?


Are References or Bibliography given at the end of the Report? Have the References been cited properly inside the text of the Report? Is the citation of References in proper format?

Yes / No

Yes / No

Yes / No 12. Have you written your report according to the guidelines? The report Yes / No should not be a mere printout of a Power Point Presentation. Source code need not be included in the report. 13. A Compact Disk (CD) containing the softcopy of the Final Report Yes / No and a copy of the Final Seminar Presentation made to the Supervisor / Examiner (both preferably in PDF format only) has been placed in a protective jacket securely fastened to the inner back cover of the Final Report. Please write your name and Roll No with a marker on the CD as well as the CD Jacket.

Declaration by Student:
I certify that I have properly verified all the items in this checklist and ensure that the report is in proper format as specified in the course handout.

Name of the Student-

Roll No-9117

Signature of the Student