Submitted in partial fulfillment for the award of degree of

Master of Business Administration


Guided By: Amit Surana. Sales Manager,

Submitted By: JATIN SHARMA MBA-III Semester

For a management student theoretical knowledge as well as practical orientation exposes one self to experiences, one can again be mastering it is best possible time. MBA curriculum has been fine tuned in such away that a student not apply the theoretical knowledge but also gain it in a practical sense. Thus objectives can be attained through application of theory tools concepts and techniques of management. Balanced theoretical and practical knowledge are essential for every student and MBA curriculum is conceived in such away so as to facilities practical purpose. To procure this objective the research undertook the project “ANALYSIS THE KNOWLEDGE OF ULIP’S AMONG CUSTOMERS OF FUTURE GENERALI LIFE INSURANCE CO. LTD. IN UDAIPUR.” Secondary data were collected from websites, and journal of Future Generali life Insurance Co. Ltd. Researcher has tried to satisfy the topic of report of help of facts and findings.


I express my sincere thanks to my project guide, Mr. AMIT SURANA , Designation _SALES MANAGER , Deptt FINANCE ., for guiding me right form the inception till the successful completion of the project. I sincerely acknowledge him/her/them for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support he/she/they had provided to me with all stages of this project. I would also like to thank the supporting staff of Future Generali, for their help and cooperation throughout our project.

JATIN SHARMA Name of the Students


Future Generali Insurance Company Limited is a joint venture company, formed by the Future Group and The Generali Group. Future Generali Life combines the Future Group’s pre-eminent leadership position in India and The Generali Group has been a leading provider of insurance and financial services in the global market for nearly two centuries. As a part of my MBA course curriculum, I joined my summer training at Future Generali Life Insurance Co. Ltd. regarding the concept of insurance, especially in respect to ULIP. With the varieties of products being offered by all insurance companies, now a day’s Unit Linked Insurance Plans (ULlP) are more and more getting popularized among the investors in the stock market as well as in the individuals. Reason being in a very short span of time ULIP has given very good returns with insurance cover benefit from the market as compared to other investment options. After having a detailed study of the various types of funds of ULIP offered by company in the market, I came to know about the knowledge of the customers of Future Generali Life’s Unit Linked Insurance Plan. Later the stage, company assigned me the project on “Analysis the knowledge of ULIP among the customers of Future Generali Life Insurance Co. Ltd. in Udaipur.” The objective of the study was:To find out the Knowledge of ULIPs Among the Customers of Future Generali Life Insurance Co. Ltd. In Udaipur. Observation was the basic approach that I used in my study. My research was divided into types of data1. Primary data 2. Secondary data The primary data was collected using questionnaire and the sample size being of 80. While the secondary data was obtained from Brochures, Fact Sheet, company’s site. Analysis of collected data was made to achieve the pre-determined objective. During the survey, it was found that most of customers had the knowledge regarding unit linked insurance plans but they have not enough knowledge about ULIP’s investment portfolio. 4

As the technology is advancing, the lifestyle of people has changed and the need to save the future has been felt mostly by the persons. The survey reflects that all the respondents do invest their money in Unit Linked Insurance plans for future safety. It was a learning experience for me. I came in the close touch with the market trend and learned about the various competitive advantages to be achieved in the market. Finally, I submitted my report and it was really a great corporate exposure through this summer training into the organization named “Future Generali Life Insurance Co. Ltd.”




Ltd. it provides comfort and convenience in transportation.called the Fire Office . INTRODUCTION TO INSURANCE Insurance is defined as the equitable transfer of the risk of a loss.disablement . BRIEF HISTORY OF INSURANCE Insurance has been known to exist in some form or other since 3000 BC. was started in 1680.. The first Indian insurance company was the Bombay Mutual Assurance Society Ltd. the Oriental Life Insurance Co. There is no direct income. gave a boost to insurance and the first fire insurance company. In the case of a motor car.is traced to the Lloyd’s Coffee House in London. It is a benefit because it meets some of his needs. is exchange for a premium.The Greeks had started benevolent societies in the late 7th century AD. from one entity to another. The origin of insurance business as in vogue at present. The losses used to occur because of pirates who robbed on the high seas or because of bad weather spoiling the goods or sinking the ship. The benefit may be an income or in some other form.formed in 1870 in Mumbai.The friendly societies of England were similarly constituted.to take care of the funeral and families of members who died. because he expects to get some benefits from it. one’s person etc against loss or harm arising in specified contingencies as fire.in which more than 13000 houses were lost. The Act. Every asset has a value. Traders who used to gather in the Lloyd’s coffee house in London.or the like in consideration of a payment proportionate to the risk involved. The asset would have been created through the efforts of the owner.DEFINITION OF INSURANCE Insurance is a contract between two parties . life.insurance began in 1818 with life insurance being transacted by an English company. The Great fire of London in 1666. This was followed by the 8 . The business of insurance is related to the protection of the economic value of assets.the insurer (the insurance company) and the insured (the person or entity seeking the cover) . system or business of insuring property. the product generated by it is sold and income is generated. accident. agreed to share the losses to their goods while being carried by ships. In India .wherein the insurer agrees to pay the insured for financial losses arising out of any unforeseen events in return for a regular payment of "premium". In the case of a factory or a cow. Both are assets and provide benefits. death .

brought together over 240 private life insurers andprovident societies under one nationalized monopoly corporation and LIC was born. Indian companies strengthened their hold on this business but despite the growth that was witnessed.I. there were 170 companies and 75 provident fund societies transacting life insurance business in India. By 1938 there were 176 insurance companies. LIC Act. After the amendments to the relevant laws in 1999. Later. the L. 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. LIC formed by an Act of Parliament.C did not have the exclusive privilege of doing life insurance business in India. in 1896 in Delhi. 5 crores from the Government of India. the United India in Chennai. These were all Indian companies started as a result of the swadeshi movement in the early1900s. 1956: 245 Indian and foreign insurers and provident societies were taken over by the central government and nationalized. The first comprehensive legislation was introduced with the Insurance Act of 1938 that provided strict State Control over insurance business. when the life insurance business was nationalished and the life insurance corporation of India was formed on 1st September 1956. the New India and the Jupiter in Mumbai and the Lakshmi in New Delhi. This was in conformity with the Government's chosen path of State led planning and development. 1938: Earlier legislation was consolidated and amended by the Insurance Act with the objective of protecting the interests of the insuring public. were established the Cooperative Assurance in Lahore. the Indian Mercantile. viz. BEGINNING OF INSURANCE IN INDIA Insurance regulation formally began in India with the passing of the Life Insurance Companies Act of 1912 and the provident fund Act of 1912. the Bombay Life. Several frauds during 20's and 30's sullied insurance business in India. 1956. By the year 1956. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. the Empire of India in 1897 in Mumbai . 9 . insurance remained an urban phenomenon. The insurance business grew at a faster pace after independence. The Government of India in 1956. the National Indian and the Hindusthan Cooperative in Kolkata.Bharat Insurance Co. with a capital contribution of Rs. Nationalization was justified on the grounds that it would create much-needed funds for rapid industrialization.

bearing Rs.every year. The occurrence has to be random. These savings are channeled into investments for economic growth.80000. The second is that the peril should occur in an accidental manner. 20000 each of 4 owners is shared by 400 house owners of the village. Oriental Insurance Company and United India Insurance Company.200each. accumulated through the payments of small amounts of premia of individuals. on an average . This works out to 1% of the value of the house which is the same as the probability of risks(4 out of 400 houses). which make it possible for insurance to remain a preferred and fair arrangement. particularly from the middle and lower income groups. this would be enough to pay Rs. It will become bearable when the community shares the burden. Thus the loss of Rs.each valued at Rs.The (non-life) insurance business. • All good life insurance companies have huge funds. In other words none in the group should set fire to his assets and ask others to share the loss. the common fund would be Rs. A life insurance company is major instruments for the mobilization of savings of people . These funds are invested in ways that contribute substantially for the economic development of the countries in which they do business. Their operations were restricted to organized trade and industry in large cities. Investments are made out of savings. 80000. With this.National Insurance Company. accidental and not the deliberate creation of the insured person. The general insurance industry was nationalized in 1972.20000. ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT • For economic development investments are necessary.20000 to each of the 4 owners whose houses got burnt.200 each. if all the 400 owners come together and contribute Rs. however. The first is that it is difficult for any one individual to bear the consequences of the risks that he is exposed to. nearly 107 insurers were amalgamated and grouped into four companies. HOW INSURANCE WORKS There are certain principles. 10 . continued to thrive with the private sector till 1972. These were subsidiaries of the General Insurance Company (GIC).4 houses get burnt . Nobody should be in a position to make the risk happen. New India Assurance Company. This would be taking unfair advantage of an arrangement put into place to protect people from the accident risks they are exposed to.resulting into a total loss of Rs. example : In a village .there are 400 houses .

ADMINISTERING THE LEGACY FOR BENEFICIARIES Speculative or unwise expenses can quickly cause the proceeds to be squandered. It is particularly advisable for housing loans when an acceptable LIC policy may also cause the lending institution to give loan at lower interest rates. etc. 3.business and trade benefit through insurance. 6. EASY SETTLEMENT AND PROTECTION AGAINST CREDITOR A life insurance policy is the only financial instrument the proceeds of which can be protected against the claims of a creditor of the assured by effecting a valid assignment of the policy. a student loan.would collapse if the factory . SUPERIOR TO ANY OTHER SAVINGS PLAN Unlike any other savings plan. The payment of life insurance premiums. Evidently. a life insurance policy affords full protection against risk of death. If the death occurs prematurely.like banks.• Apart from investments . financiers . be surrendered for a cash value. the potential financial loss to the family of the policyholder is sizable. for example. Several policies have foreseen this possibility and provide for payments over a period of years or in a combination of installments and lump sum amounts. after a certain time period (generally three years). Insurers cover also the loss to financiers if their debtors default.financed by it is reduced to ashes by a terrible fire. In comparison. any other savings plan would amount to the total savings accumulated till date. earthquake. is considered sacrosanct and is viewed with the same seriousness as the payment of interest on a mortgage. such savings can be much lesser than the sum assured. 4. floods. ADVANTAGE OF LIFE INSURANCE 1. 2. 5. the insurance company makes available the full sum assured to the policyholders' near and dear ones. The policy is also acceptable as a security for a commercial loan. DISABILITY BENEFITS 11 . Without insurance trade & commerce will find it difficult to face the impact of major perils like fire. In the event of death of a policyholder. ENCOURAGES AND FORCES THRIFT A savings deposit can easily be withdrawn. READY MARKETABILITY AND SUITABILITY FOR QUICK BORROWING A life insurance policy can. however.

but the time of death is uncertain. When these benefits are factored in. may be a few lakhs or a few crores of rupees. Such possible occurrences are called perils. the time of earth is not uncertain. In the case of a human being. not fully. through better safety and damage control management. breakdowns. are perils. ACCIDENTAL DEATH BENEFITS Many policies can also provide for an extra sum to be paid (typically equal to the sum assured) if death occurs as a result of accident. death is certain. The peril cannot be avoided through insurance. because they are likely to be destroyed. it is found that most polices offer returns that are comparable or even better than other saving modes such as PPF. floods. It only compensates the losses.and that too. we say that the asset is exposed to that risk. because of the peril of an earthquake. though not exactly known. Insurance is done against the contingence that it may happen. it cannot be insured against. It does not prevent its loss due to the peril. 7.Death is not the only hazard that is insured. Risks are the consequential losses or damages. earthquakes. the following tax relief is available a) 20 % of the premium paid can be deducted from your total income tax liability. etc. In the case of a person who is terminally ill. The risk to an owner of a building. Insurance does not protect the asset. Insurance is relevant only if there are uncertainties. 8. NSC etc. Typically. lightning. Perils are the events. Assets are insured. The risk only means that there is a possibility of loss or damage. these provide for waiver of future premiums and payment of monthly installments spread over certain time period. many polices also include disability benefits. the cost of insurance is a very negligible. There has to be an uncertainty about the risk. through accidental occurrences. The peril can sometimes be avoided. depending on the cost of the building and the contents in it. TAX RELIEF Under the Indian Income Tax Act. Fire. 12 . b) 100 % of the premium paid is deductible from your total taxable income. If there is no uncertainty about the occurrence of an event. He cannot be insured. If such perils cab case damage it the asset. The damage may or may not happen. Moreover. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset.

leadership of managers. The second is that the peril should occur in an accidental manner. the others will share the loss and make good to the person who lost. insurance is a business of "haring". piracy. burglary. It may be proportional to the risk that each person is exposed to. It will become bearable when the community shares the burden. People who are exposed to the same risks come together and agree that. Examples of non-economic losses are love and affection of parents. In other words. accidental. Like this. earthquakes. different kinds of risks can be identified and separate groups made. but they are exposed to different kinds of risks like. It is unlikely that many Jumbo Jets will crash at the same time. ship sinking. none in the group should set fire to his assets and ask others to share the costs of damage. etc. The mechanism of insurance is very simple. at the time of admission to the group. etc. the risk is spread among the community and the likely big impact on one is reduced to smaller manageable impacts on all. The manner in which the loss is to be shared can be determined before-hand. sentimental attachments to family heirlooms. The share could be collected from the members after the loss has occurred or the likely shares may be collected in advance. This would be taking unfair advantage of an arrangement put into place to protect people from the risks they are exposed to. By this method. If the loss is not financial. There are certain principles. lightning. the heavy loss that any one of them may suffer (all of them may such losses at the same time) is divided into bearable small losses by all. In other words. insurance may not be possible. Those owning factors are not exposed to these risks. 13 . which are related to water damage. If a Jumbo Jet with more than 350 passenger's crashes.Only economic consequences can be insured. No airline would be able to bear such a loss. This would be indicative of the benefit he would receive if he the peril befell him. etc. Thus. Nobody should be in a position to make the risk happen. which make it possible for insurance to remain a fair arrangement. whenever one of the Jumbo Jets in the pool crashes. if any one of them suffers a loss. All people who send goods by ship are exposed to these risks. innovative and creative abilities. hailstorms. fire. the loss would run into crores of rupees. The occurrence has to be random. and not the deliberate creation of the insured person. The first is that it is difficult for any one individual to bear the consequences of the risks that he is exposed to. come together into an insurance pool. Insurance companies collect in advance and create a fund from which the losses are paid. If 100 airline companies flying Jumbo Jets. including those exposed to such risks. the loss to be borne by each airline would come down to a few lakhs of rupees.

widowhood or other lack of livelihood in circumstances beyond the control. Insurance is one of them. In a capitalistic society too. there is a tendency to provide some social security by the state under some schemes. Part of the state's obligations to the poorer sections is met through the mechanism of life insurance. The lower strata create a cost on society.K. sickness. Life insurance provides if this did not happen.g. disability. where members are required to contribute e. sickness. While it may not be possible to tell beforehand. unless other arrangements come into being to restore the situation. Poor people cost the nation by way of subsidies and doles and so on. which person will suffer. which can be used in security this aim. Article 41 requires state. INSURANCE AS A SECURITY TOOLS The United Nations Declaration of human Rights 1948 provides that "Everyone has a right to a standard of living adequate for the health and wellbeing of himself and his family. to that extent. Under a socialistic system the responsibility of full security would be placed upon the state to find resources for providing social security. Social Security Schemes in U. poor education and vagaries in behavior of children. may suffer losses. and disablement and in other cases of undeserved want. In India. LIFE INSURANCE VERSUS OTHER NVESTMENTS 14 . to make effective provisions for security right to work. The economic condition of the family is affected. on the basis of past experiences. to education and to provide public assistance in case of unemployment. social security finds a place in our constitution. including food. within the limits of its economic capacity and development. it may be possible to tell. clothing. another family would be pushed into the lower strata creates a cost on society. The society provides instruments. In this sense life insurance business is complementary to the state's efforts in social management.The collection to be made from each person in advance is determined on assumption. In the capitalistic society. on an average. Poor people also cost by way of larger growth in population. how many person. old age. provisions of security are largely left to the individuals. housing and medical care and necessary social services and the right to security the event of unemployment." When the bread winner dies. Life insurance tends to reduce such costs. the family's income dies.

the lower are the premium requirements. It enhances the existing standards of living.• Most investment options make your money work harder. There is a certain amount of compulsion to go though the plan of savings. Marketability and liquidity are better. There are tax benefits. The Insurance Act 1938. 15 . can be protected against LAWS AND REGULATIONS 1. which he/she may not do in the regular course of life. but there are no substitutes to life insurance. it encourages 'forced thrift' which means the insured is made to pay premiums and save money. Insurance premiums are linked to age of the life insured and the earlier you buy. which came into effect from 1st july 1939 and was amended in 1950 and latter in 1999. • Life insurance allows long tem savings to be made in a relatively painless manner because of the low and convenient investments made through premiums. • • Life insurance cannot be compared with any other form of investment as life insurance gives you a life long benefit and returns on your money when it is most required. In the event of death. the money stays invested for a longer time and thereby maximizing your returns through the power of rupee compounding. Creditors cannot claim the life insurance moneys. • • • • • • • • • Most importantly it provides you with that unique sense of security and peace of mind that no other form of investment provides.the settlement is easy. Loans can be raised against the policy It is possible to protect a life insurance policy from being attached by debtors. Moreover. as well as returns on your money invested.both in income tax and in capital gains. So. It helps people live financially solvent lives. is the principal enactment relating to the business of insurance in India.risk cover against your life. a life insurance policy is an ideal tool to gain security and ensure savings. Besides. They attachments by courts. Because only a life insurance policy gives you both . A life insurance policy is property and can be transferred or mortgaged.

provided for the establishment of the IRDA to protect the interest of holder of insurance policies to regulate promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. 5. 4.the IRDA had issued more than 25 regulations and also issued several guidelines to insurers on a variety of matters.I.C as a body corporate consisting of not more than 16 member appointed by the Central Government.1938 the life insurance corporation act. It also sought to amend the insurance Act. The tax laws in India \have always encouraged people to save through life insurance or other instrument by providing relief from tax liabilities. intermediaries etc. Monitor & certify the soundness of the term of life insurance business.2. This Act passed in December 1999. It is advised by an Insurance Advisory Committee consisting of not more than 25 members to represent the interests of commerce. 7. Under this act. Inspect documents of insurers.1956 & the general insurance business act. 8. It replaces the ‘Controller Of Insurance’ to administer the provisions of the Insurance Act.1972. 9. The IRDA is a corporate body. 3.The details provided herein are as on August 2007 when the course was being written. industry. a consumer as an individual or along with other individual or through a consumer organization can approach the various forums prescribed under the Act for redress in case he is not satisfied with goods or service provided. 6. Issue directions Take over the management of an insurer and appoint administratiors By the end of December 2006. These could change at any time 16 . transport. agriculture.the Controller of Insurance was responsible for the administration of the insurance Act . agents. since 1999 the IRDA has replaced the Controller of Insurance . The constitution of the IRDA by the IRDA Act in 1999. This Act was the basis for the establishment of the L.one of them being Chairman.The Insurance Act vests the IRDA with powers to • • • • • • register insurance companies and also cancel their registrations. Appoint additional directors. The Regulation framed by the IRDA in so far as they affect the working of the agents.

11. 13. The Government of India ever since nationalization of the life insurance business in 1956 has been concerned with the question of providing life insurance cover for people in the rural areas and in the weaker sections of society. Any sum received under a life insurance policy including the bonus addition is exempt from income tax. proportionate value of the right or interest of the assesse in the policy will be exempted. up to a maximum of Rs. Insurance premiums paid under partnership or keyman insurances are allowed as expenses. 12. That means that income tax does not have to be paid on policy claim and surrender amounts. Commuted values of pensions are exempt from income tax. 17. 17 . If the policy term is less than 10 years.through budget provision or otherwise.. 15. 10. 14. 16. If premium during any year under any policy exceeds 20% of SA only 20% will be taken into account for this rebate.1995 and who may not be gainfully employed and also includes guardian who need insurance to protect spastic persons with disability. This is subject to the premium being not more than 20% of the SA on any policy during any year. The wealth tax act exempts life insurance policies totally provided premiums are payable for a period of 10 years or more.1 lakh. Section 6 of the Married Women Property Act provides that a policy of insurance effected by any married man on his own life and expressed on the face of it for the benefit of his wife & children . The agent should keep himself up-to-date with changes. People below the poverty line are included in the expression economically vulnerable or backward classes. shall be deemed to be a trust for the benefit of his wife & children and shall not be subject to the control if the life assired or his creditors or form part of his estate. The expression ‘other categories of person’ includes person with disability as defined in the persons and disability act.National Savings Certificates etc. The income of an assessee is reduced by the aggregate of amounts paid towards insurance premiums contribution to Provident Fund or approved Superannuation Fund.

livestock or tools or any personal accident either on individual or group basis. wife. which takes the form of payment of a previously agreed lump sum or pension to a beneficiary. dependant parents and a maximum of 3 children. if the insured person dies during the term of insurance.18. The IRDA Regulations 2005 provide for the transaction of both general and life micro insurance products for the benefit of small families comprising of husband. without any endowment insurance component. 18 . An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured. A general micro insurance product is defined as a contract covering health insurance . In the case of pure life insurance. Insurance is that which provides protection against the economic loss caused by the death of the person insured. no payments are due if the insured person survives the term of insurance. Risk insurance intended as protection against the financial consequences of the death of the insured person. hut.


futurebazaar. a supermarket chain and went on to launch Central. a first of its kind. Future Bazaar India Ltd and ConvergeM Retail India Ltd. followed by Food Bazaar. Future Group Future Group. a hypermarket chain.000 people. The company’s revenues for FY 05-06 were Rs. music. communication products. It has recently launched its etailing venture. Pantaloon Retail.COMPANY PROFILE Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. general merchandise. Headquartered in Mumbai (Bombay). E-Zone (consumer electronics). as a garment manufacturing company. it launched Big Bazaar. gifts and stationaries). is positioned to cater to the entire Indian consumption space. seamless mall located in the heart of major Indian cities. In 2001. the company operates through 4 million square feet of retail space. Some of the group’s subsidiaries include Home Solutions Retail India Ltd. The company owns and manages multiple retail formats catering to a wide cross-section of the Indian society and its width and depth of merchandise helps it capture almost the entire consumption basket of the Indian consumer. health. The Future Group operates through six verticals: Future Retail (encompassing all lines of retail business). books and music. Pantaloon Retail forayed into modern retail in 1997 with the opening up of a chain of department stores. led by Mr. Pantaloons. Kishore Biyani. E-tailing and leisure and entertainment. which leads the group’s foray into home improvement. has over 150 stores across 35 cities in India and employs over 15. Future Brands (all brands owned or managed by group companies). 20 . Shoe Factory (footwear) and Blue Sky (fashion accessories). Collection I (home improvement products). fashion and footwear. and Future Generali India Insurance Co. aLL (fashion apparel for plus-size individuals). Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Future Capital (financial products and services). 2017 crore Founded in 1987. Some of it’s other formats include. Depot (books. Ltd. Ltd. wellness and beauty. is India’s leading retail company with presence in food. Future Space (management of retail real estate). The group’s flagship enterprise.com. home solutions and consumer electronics. Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces).

Pantaloon Industries Ltd. Guess and The Body Shop in India." One of the core values at Future Group is. Indivision. Generali is an international group present in more than 40 countries with insurance companies and companies mostly operating in the financial and real estate sectors. Galaxy Entertainment and Indus League Clothing. Identity Card • Generali Group ranks among the top three insurance groups in Europe and the 30th largest company in the Fortune 500 international ranking. Other group companies include. 1831. Everywhere.555 employees It has over €398 billions of total assets under management 21 . consumer credit and offer other financial products and services. respectively. "deliver Everything. Future Capital Holdings. GENERALI GROUP Established in Trieste on December 26. Liberty Shoes. the Generali Group has reconstructed a significant presence in Central Eastern Europe and has started to develop business in the principal markets of the Far East. ‘Indianess’ and its corporate credo is – Rewrite rules. focuses on asset management through real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund. with a 2007 premium income of over € 66 billions • High rating assigned by the international rating agencies: o o o o A. Future Group’s vision is to. It has also entered joint venture agreements with a number of companies including ETAM group. Staples and Planet Sports. Retain values. the group’s financial arm. Every time to Every Indian Consumer in the most profitable manner. Debenhams. a company that owns the franchisee of international brands like Marks & Spencer. Gini & Jony. BEST A+ Standard & Poor’s AA Fitch AA Moody’s Aa3 • • • • It is present in more than 40 countries It has over 50 millions clients worldwide It has 80.etailing and communication products. including China and India. It also plans to get into insurance. Over the years.M.

customers. • Nimbleness : A combination of speed and quality.Vision & Values Vision Statement : "Pledged to provide financial security to all people & enterprises through total insurance solutions" Values : • Respect : for all our stakeholders. • "Can Do" : An attitude which demonstrates our passion.employees. Convenience and Service Excellence Objective 22 . Mallassurance Store • • • • • • • Big Baar e zone Food Bazaar Furniture Bazaar Home Town KB Fair Price Pantaloons Positioning & Objective Positioning • • • Knowledge Organization with Leadership Approach One Stop Total Insurance Solutions & Services Provider Customer Centric Model embracing Passion. • Indianess : We understand India in all its diversity and different facets and will use for our local understanding to respond to our specific markets. and positive thinking. for all rules and regulations both internal and external. design our products and craft our processes. entrepreneurship. and ability to overcome all obstacles which come in the way of the achievement of our vision.

Ex chairman SEBI. Kim Chai Ooi-Country Manager-Future Generali He is the Country Manager of Future Generali. Registration Date Number 1 133 Reg. PEOPLE THAT MAKE THE DIFFERENCE 1. held leadership positions at India DHL. he has over 25 years experience in Banking and Investment management both in India and abroad with SBI group S. MR. MR.2007 Future Generali India Life Insurance Company Limited Products 2008-09 Future Generali India Life Group Credit 23 133N005V01 3-Jun-08 .To provide superior customer service through our knowledge-based business partners and employees supported by innovative products and services. AGARWAL-Chief Actuary-Future Generali Life 35 years experience in Life Insurance & Investment. His previous assignments and important career events include setting up Generali China Joint Venture operations in 2001 and leading it towards achieving the status of China’s No. BAJPAI.Chairman-Future Generali Vast experience in capital markets and insurance industry. 3.N. JAYANT KHOSLA-MD & CEO –Future Generali Life An IIM Ahmedabad alumnus having diverse experience of more than 23 years in MNCs both in India and abroad. Coca Cola and Bharti Airtel 4. Dr. of Name of the Company 04.09. LIC. G. Earlier Executive Director(Actuarial) at LIC. 2. 5.CIO-Future Generali Life PHD and FRM certified. recipient of many awards including ‘ Outstanding contribution to the development of finance’ from PM Manmohan Singh. NIRAKAR PRADHAN.No. DR. currently President of Institute of Actuaries of India since last 2 years. G.N. MR. 1 Foreign Insurer in 2005. Cadbury Schweppes.

Insurance Co. Ltd. Insurance Co. Ltd. Ltd. Future Generali India Life Insurance Co. Ltd. Future Generali India Life Insurance Co. Ltd. Ltd. Ltd. Ltd. Ltd. Ltd. Ltd. Future Generali India Life Future Future Linked Plan Advantage Plan 2008-09 Group Gratuity Unit 133L011V01 5-Nov-08 2008-09 2008-09 2008-09 2008-09 Future Easy ULIP 133L012V01 7-Nov-08 133N013V01 7-Nov-08 133L014V01 25-Nov-08 Future Generali India Life Future Child Benefit Plan Guarantee ULIP Future Generali India Life Future Future Freedom ULIP 133L015V01 28-Nov-08 1-Apr-09 withdrawn Future Group Future Generali Traditional 133N016V01 13-Mar-09 Generali Traditional Encashment 133N017V01 13-Mar-09 2008-09 Superannuation Plan 2008-09 Future Generali India Life Group Insurance Co. Ltd. Ltd. Future Generali India Life Insurance Co. Insurance Co. Leave Plan 2009-10 Future Anand Plan 133N018V01 1-Jun-09 2009-10 Future Generali India Life Future Saral Anand 133N019V01 28-Jul-09 24 . Future Generali India Life Insurance Co. Suraksha Futute Immediate Plan Generali Group Gratuity Plan Future Sanjeevani Future Pension Plan Pension Generali 133N007V01 16-Jun-08 133L008V01 30-Jun-08 133N009V01 22-Aug-08 133L010V01 25-Sep-08 Generali annuiy 133N006V01 16-Jun-08 2008-09 2008-09 2008-09 2008-09 Future Generali India Life Future Insurance Co. Future Generali India Life Insurance Co. Insurance Co. Ltd. 2008-09 Future Generali India Life Insurance Co. Future Generali India Life Insurance Co. Future Generali India Life Insurance Co.

Future Generali India Life Group 133B008V01 15-Dec-08 133B009V01 27-Nov-07 Group Group 2007-08 Future Generali India Life Group Accidental 133B010V01 27-Nov-07 . Future Generali India Life Waiver of premium on Future Generali India Life Critical Illness Core rider Accelerated Illness (Extended) Accelerated Accidental Terminal Illness Rider Death Rider Partial Permanent 25 Critical 2007-08 Rider 133B007V01 10-Oct-07 2008-09 2007-08 Future Generali India Life Group Insurance Co. Rider Death Total & Rider Accidental Permanent rider Accidental Permanent rider Assurance Rider disability rider Life Guardian rider Total & 15-May-09 133C002V01 133B003V01 10-Oct-07 133B004V01 10-Oct-07 133B005V01 10-Oct-07 133B006V01 10-Oct-07 Disability Future Generali India Life Accidental Death 133B001V01 10-Oct-07 133C001V01 15-Apr-09 15-May09 To (closing date) 15-Apr09 Remarks. Ltd. Ltd.Insurance Co. Ltd. by IRDA 2007-08 Disability 133B002V01 10-Oct-07 2009-10 2007-08 2007-08 2007-08 2007-08 Future Generali India Life Term Insurance Co. Insurance Co. Ltd. Insurance Co. Ltd. Insurance Co. Future Generali India Life Insurance Co. Future Generali India Life Insurance Co. Riders Plan In operation Financial Year Name of Insurer Name of the Rider Rider UIN From (opening date) 2007-08 2009-10 Future Generali India Life Accidental Insurance Co. Insurance Co. Ltd. Ltd. Ltd. Ltd. Ltd. Ltd. Ltd. Ltd. Insurance Co. Future Generali India Life Insurance Co. Future Generali India Life Insurance Co. if any.

Ltd. Permanent Rider 2007-08 Future Generali India Life Insurance Co. Insurance Co. Ltd. Ltd. Group Total Group Illness Rider Core Critical Illness Rider Group Critical Extended Illness 133B015V01 27-Nov-07 Extended Linked Linked Linked Critical Life Term Group 133B014V01 27-Nov-07 Group Accidental Permanent 133B012V01 27-Nov-07 Core Critical Group Group Accident & 133B011V01 27-Nov-07 Group Total Disability Disability Rider Accelerated 133B013V01 27-Nov-07 2007-08 2007-08 Future Generali India Life Group Insurance Co. Ltd. Future Generali India Life Unit Future Generali India Life Unit Future Generali India Life Unit 26 . Ltd. Future Generali India Life Insurance Co. Ltd. 2007-08 Accelerated Rider Critical Illness Rider Illness (Core) Rider Guardian Rider Assurance Rider 133B016V01 27-Nov-07 133A017V01 6-Jul-09 133A018V01 6-Jul-09 133A019V01 7-Jul-09 Group 2007-08 2009-10 2009-10 2009-10 Future Generali India Life Group Insurance Co.Disability Rider Group 2007-08 Future Generali India Life Sickness Insurance Co. Ltd. Future Generali India Life Insurance Co. Insurance Co. Ltd. Insurance Co. Ltd.

27 .


Some insurers. the investments are primarily in Government and Government guaranteed securities and such safe debts and other high investment grade corporate bonds.the SA or the value of units in the fund. not all. but there may be a loyalty bonus paid at the end OPTION OF FUNDS Insurers offer policyholders a choice of funds in which their moneys may be invested like • • Equity Funds: In this type funds. which means that on the happening of the event . Partial or total withdrawal is allowed. ULIPs contribute nearly 50% of the premium for some insurers and more than 85% of the premium for some others. Sometimes there are conditions attached. they prefer to use their funds in ways that help them to participate in the boom in the capital market. etc. sometimes also called liquid fund. FEATURES OF ULIP • • • • The policyholder can pay additional premium for investment at any time. is payable. sometimes also called growth funds. In linked policies the SA may be expressed as an integrated benefit. Such plans are called linked Insurance plans or ULIPs. Debt Funds: In this type of funds. • Money Market Funds: In this type of fund .A ULIP is a life insurance policy which provides a combination of life insurance protection and investment. These policies will not be entitled to any bonus There is no annual bonus. whichever is higher. Insurers have developed plans that combine the benefits of life insurance as well as giving various options of participating in the growth of the capital market. When people see how investments in the capital market have grown over the last few years. charge a redemption fee in such cases. also called bond fund. 29 . In this case the life cover will reduce as the value of the units increases. commercial papers . the investment may be more in short-term money market instruments such as treasury bills. As the risk cover decreases the premium adjusted towards the cover will decrease and the amount allocated to investment will increases. there would be more investments in equities which are shares/stocks traded in the stock market.

but the amount going into the fund for investment will change.irrespective of the fund in which the earlier premiums have been invested. while another fund will have a larger proportion of equity shares. The option of switching is one provision that gives the flexibility. and top-up condition Surrender benefit only after 3rd policy anniversary First partial withdrawal only after 3rd policy anniversary SA can be reduced up to the extent of partial withdrawals during 2 years prior to death and after age 60 30 • .the differences being mainly in the proportions in various kind of instruments. Some insurers charge a fee for every such switch. etc. One fund may have more of debt instruments. IRDA GUIDELINE The IRDA has issued guidelines on various matters relating to ULIPs. which may appreciate in value more than debt instruments. Some others allow a certain numbers of switches free and then charge a fee for every switch thereafter. Policyholders are also allowed to make a lump sum additional contribution at any time. All these funds will remain invested in a mix of instruments. This facility allows the policyholder to take advantage of the market conditions. in any proportion . The arrangement can also be terminated at any time and the amount in the fund withdrawn. If that happens no new units will be addede to his fund but some units will be reduced to pay for the annual charges for cover. Some of these are • • • The limits on SA. The loss will only be a nominal fee. • Policyholders may also be allowed to redirect the current premium into any fund. the investments are in both equity as well as debts. FLEXIBILITY • ULIPs provide a lot of flexibility to the policyholder. Insurers allow policyholders to switch their moneys from one fund to another during the term of the policy. The risk cover will remain the same.• Balanced funds: In this type of funds. without exercising the switching option. for fund management. Insurers use different names to differentiate between the funds. for administration. • Policyholders may not pay the premium in a year subject to certain conditions. this called premium holiday. which guarantee a certain fixed return.

A ULIP STRUCTURE IS AS FOLLOWS:- 31 . except during last 3 years of contract Death benefits to be guaranteed Maturity benefits may be guaranteed. for partial withdrawal.• • • • • • Lock-in period for each top-up amount. at levels reasonable in relation to current and long term interest rates scenario Policy to become paid up. This is influenced by the ups and downs in the Sensex. So Fund Value = Unit Price x Number of Units. if there is default in premium after 3 years No auto cover facility if at least 3 years premium not paid If policy is not revived. whichever is later Net Asset Value (NAV) Value of a fund share = Total value of the fund's assets Number of outstanding Shares This value is calculated daily by the fund.surrender value to be paid at the end of 3 rd policy anniversary or end of revival period. Fund Value The fund value is the value of your investment as on a given date. The Net Asset Value (NAV) is applicable at the time of valuation/purchase.

Transparency 5. Extra protection with riders 6.BENEFITS Of ULIP ULIP distinguishes itself through multiple benefits that it provides to the consumer. Liquidity 7. Flexibility of cover continuance 4. Tax planning 1] LIFE PROTECTION:The need for life insurance keeps on changing as shown When we start working When we start a family When our children start a career 32 . The plan is a one stop solution providing 1. Life protection 2. Investment and saving 3.

When we retire Therefore as our responsibilities grow our need for life insurance grows and as these responsibilities are successfully executed the need (insurance) reduces. ULIP provides the client with a option of investing as per personal risk profile and get returns accordingly.Surrender Charges 33 . There are options of funds where the client can put money in 1. 2] INVESTMENT AND SAVINGS Each and every one of us wants to create value for himself by proper investment. These charges may be 1.Contribution charges 2.Fund Management Fees 4.debt market 3.short-term debt market 3) FLEXIBILITY OF COVER CONTINUENCE OPTION Since the insurance is a long-term contract so there are possibilities that a person may not pay the premiums regularly so this option ensures that the life insurance cover continues even if the person is not capable of paying the premiums due to any other commitment.Mortality Charges 5. Therefore a policyholder can easily find out the value that a policy has accrued on a certain date. Also the customer is well aware of the charges that he is paying.balanced funds with a mix of above two 4.Rider Charges 6.equity market 2. which is denoted through NAV is the real time indicator of the value of the fund. He/she can resume the payment when he feels comfortable. 4] TRANSPARENCY In a unit linked plan the investment.Administrative charges 3.

disability 3. Unit linked plans provide you easy access to your money as and when you require. Most life insurance products do not provide the policyholder the facility of withdrawing money in case the need arises.death due to an accident 2.critical illness 6] LIQUIDITY a) During the term partial withdrawals b) This facility makes the ULIP a very practical insurance in current times. The cover may be offered against 1. With so many tax-planning tools in one plan ULIP turns out to be an intelligent tax-planning tool.5] EXTRA PROTECTION Riders provide more protection to the policyholder and ULIP allows addition of riders at nominal cost. One can redeem the units after a particular period of time as defined by the planas per the need. FINANCIAL PLANNING WITH ULIPS 34 . ULIP allows either partial or full withdrawal without panelizing the policy ho 7] TAX PLANNING 1.Any amount paid to you will be eligible for tax benefit under section 10(10) D if premium paid in any year does not exceed 20% of the sum assured.Premium payment up to 20% of the sum assured is eligible for tax benefit under section 80C 2.

3.Also the present premiums have to invested according to your risk appetite. FAMILY PROTECTION:-to ensure that financial loss to the family is minimized if something happens.If you are planning for insurance than you should keep in mind the future years inflows that may be lost if something happens to you and if you are planning for retirements then you should make calculations for the annuities that you will require. RETIREMENT PLANNING:.4. 3.In the context of financial planning with ULIP we can see the above cycle where there are four stages namely 1. Like a young professional can go for a very aggressive 35 HIGHER EDUCATION:matching the increasing educational . ASSET CREATION:-creation of physical and financial asset.This strategies necessary in determining that what are your goals 1.2. Define and prioritize goals:.taking care of your long retirement years.1. 2 Project income. expenses and investments:. 1. Risk appetite and Protection needs:. 1. CHILDREN’S expenses. 1.

Suitability of options 36 .The goals once defined may or may not last forever so our financial planning should be flexible enough to meet the sudden changes in our requirements. SPEND:This is an activity of using the money for our expenses. Investors who entered such funds were left high and dry when the market tanked. To draw a parallel. For instance.approach (above 80% in equities. The focus here is on capital growth. 4. FACTORS TO BE CONSIDERED BEFORE INVESTING IN ULIP: 1. it has both short term and long term perspective. SAVE:This is an activity that helps in “asset accumulation”. This has a long term perspective for example the money which we save after having met our expenses we put in various long term securities to gain returns and thereby creating financial/physical asset. 2. campaigns with such punch lines as "100 per cent return in 10 months" were common. Changing lifestyle. INVEST:This is an activity that focuses asset creation it involves making money from money.) whereas a person in his fifties may want regular income even at a lower rate so he may choose debt instruments. which is nothing but protecting our life styles. so the act of spending which is nothing but protecting our life styles. The short-term perspective is putting aside the extra money after expenses into one place like a bank. Nothing could be farther from the truth. similar advertisements were put out by mutual funds during the heady days of the market in the mid-1990s. High returns and sustainability The high-decibel advertising campaigns may lead investors to believe that the returns generated over the past few months are sustainable. This can be done to meet our day-today expenses or to meet any exigencies. The long-term perspective is when savings is done while keeping some goals in mind. changing financial goals:. A part of income goes in spending.

based on performance over such a short time span may not be appropriate. Fund management style Considering that ULIP are relatively new launches. 5. returns tends to be compressed over a short timeframe. Charges plenty Various charges are levied o such plans. Course of action Providing life cover is the most important function of insurance.ULIP usually offer three schemes: one oriented towards debt and money market instruments. Their either lead to a deduction from the investment amount that is brought in or are adjusted by liquidation of units. Market timing To maximize returns even during such bullish phases. 6. investment. As far as stocks go. Investors can look at the debt based plans as the tax breaks could magnify returns. This implies that investors should switch between schemes within a plan to get the biggest bang for their buck. which gets magnified given the tax rebates. it is imperative that investors time their entry and exit from the markets. 37 . settle for a pure term plan instead which will offer you a high amount of cover for a relatively lower premium outgo. 3. Even if one views insurance as a long term. Investors can considers the following options: Steer clear of opting of life cover under the unit-linked plans. Typically charges are high in the initial two years before they taper of and stabilize for the rest of the plan’s terms. Staying put too long in a ULIP that focuses on equity may deplete returns if market mood turns negative. and a third that seeks to achieve a mix of investing in both equities and debt. 4. another with a equities. their short history does not permit an assessment of how they will perform in different phases of the stock market. providing returns is just an added advantage of such plans. In both cases. return are affected. commitment.


Secondary Sources: I have used Secondary Sources for making People aware about unit linked insurance plans. 2) RESEARCH DESIGN A research design is the arrangement of the conditions for collection & analysis of data. The following sources are used. It refers to the procedure for the collection of data & its analysis. in Udaipur. 1) Fact Sheet 2) Website 3) Broachers 4) SAMPLE DESIGN Sample design refers to the technique as the procedure that a researcher would adopt in selective item for the sample. Ltd. Primary Sources: I have used Primary Sources for finding out customer’s knowledge. Methodology forms a core of all research study. This chapter deals with the various methodological details in the present study. Actually it is the blue print of research project. According to Redman and Mary “Research is a systematic effort to gain new knowledge”. A. 39 . Method of obtaining data: Questionnaire B. The methodology of the present investigation includes the following steps 1) OBJECTIVE OF THE STUDY To find out the knowledge of ULIP’S among the customers of Future Generali Life Insurance Co.Research methodology Research is common parlance refer to a search of knowledge. The research design is as follows Exploratory Research 3) SOURCES OF DATA Sound marketing research depends upon the existence of facts or directly related to problem studied. One can also define research as a scientific and systematic search for pertinent knowledge or information on specific topic. the information gathered from the primary as well as secondary sources & the same is also used. The following sources are used for gathering information. To fulfill aforesaid objectives of the study.

1. in which different questions were asked. Telephone Calling: By making telephonic calls to the respondents appointment with them is being taken first and then I meet them personally at the appointment time and then I give them the questionnaire and after filling the questionnaire they give me the filled questionnaire.Sample Size: In my study I have taken a sample of 80 respondents 5) DATA COLLECTION TECHNIQUE The data was collected through close-ended questionnaire. 2. 6) AREA OF THE STUDY The study had been conducted in UDAIPUR CITY 7) SAMPLING TECHNIQUE For the purpose of my study I had used: Convenient Sampling 40 . Questionnaires: The data was collected through questionnaire.


10% in 5 lakh. OF CUSTOMERS 8 64 42 PERCENTAGE 10 80 . OF CUSTOMERS 50 40 30 20 10 0 Below 2 lakh 2-5 lakh INCOME 5 lakh & above NO.INCOME LEVEL Below 2 lakh 2-5 lakh 5 lakh & above NO. This graph shows about income level of the people and most of the people earn between 2-5 lakh annually. 60% are in the income group of 2-5 lakh. OF CUSTOMERS 24 48 8 PERCENTAGE 30 60 10 INCOME LEVEL(ANNUALLY) 60 NO. OF CUSTOMERS Interpretation: It shows that 30% customers are with in the income group of below 2 lakh. Q:2 How did you come to know about of future generali life insurance company limited? PARTICULAR Advertisement Agent NO.

Company does not invested in promotional activity.Friend 8 10 70 60 NO. OF CUSTOMERS 8 10 48 14 43 PERCENTAGE 10 12 60 18 . Q:3 Which ULIP product of the company have you taken? Please provide name of the plan? ULIP PRODUCT Future secure Future income Future balance Future maximize NO. They sell their product through agents. OF CUSTOMERS 50 40 Series1 30 20 10 0 Advertisement Agent Friend Interpretation: It shows that 80 % customers were come to know about ULIP’s through agents and 10% through advertisement and friends.

Q:4 Do you know about the key features of ULIP which you have taken? PARTICULAR YES NO NO. OF CUSTOMERS 52 28 PERCENTAGE 65 35 44 . OF CUSTOMERS 50 40 30 20 10 0 Future secure Future income Future balance ULIP PRODUCT Future maximise Series1 Interpretation: It shows that 60% of customers prefer future balance because it gives better return in the future and another fund prefer by customers is future maximize because in the more risk more return.60 NO.

NO. Q:5 Do you know about the administrative charges & other charges in ULIP? PARTICULAR YES NO NO. OF CUSTOMERS 60 50 40 30 20 10 0 YES NO Series1 Interpretation: It shows that only 65% customers are know about the key features of ULIP which they have taken and 35% customers are don’t know about key features. OF CUSTOMERS 60 20 PERCENTAGE 75 25 45 .

OF CUSTOMERS Series1 \ Interpretation: It shows that only 75% customers are know about the administrative charges and other charges in ULIP which they have taken and 25% customers are don’t know about it.70 60 50 40 30 20 10 0 YES NO NO. Q:6 How long do you intend to remain invested in ULIP? PARTICULAR 3 years Between 3-5 years Between 5-10 years Above 10 years NO. OF CUSTOMERS 20 40 15 5 46 PERCENTAGE 25 50 19 6 .

Q:7 Rate the factor that you consider before investing in ULIP ? PARTICULAR Flexibility Return Tax Saving Risk Cover NO. of customers 50 40 30 20 10 0 3 years between 3-5 between 5years 10 years years above 10 years Series1 Interpretation: It shows that 50% people are interested to invest their money between 3-5 years for the better return . according IRDA people can withdraw there money 3 years so 25% customers are interested to invest money in this duration. OF CUSTOMERS 8 48 16 8 47 PERCENTAGE 10 48 20 10 .no.

OF CUSTOMERS 68 12 PERCENTAGE 85 15 Ri s k 48 .no.20% people invest money because of the tax saving. of customers 60 50 40 30 20 10 0 Re tu rn ng Fl ex ib Co ve r ilit y av i Series1 S Ta x Interpretation: It shows that 48% customers interested in ULIP because of the return . and 10% people invest money because of the flexibility and risk cover. Q:8 After sales service? PARTICULAR Yes No NO.

of customers 60 40 20 0 Yes No Series1 Interpretation: It shows that 85% customers satisfy after sales service company switch the fund according to the customers preference. and solve the problem time to time. 49 . and give details to customers on the maturity date.80 no.

80% customers were come to know about the company through agents which shows that most of customers were get attracted through agents.CHAPTER 6 CONCLUSIONS. 4. 50 . SUGGESTIONS & LIMITATION CONCLUSIONS 1. Return objective analysis says that most of customers give very importance to return. 2. 3. Tax Saving is also very important for customers. From income analysis we can conclude that most of customers are belong to high income group which is beneficial for the company.

Company should try for giving the knowledge to its customers that investments are subject to market risks and past performance is not a guide to future results. From the analysis of key features of ULIP we can conclude that 35 percentage customers don’t know about the key features of ULIP which they have taken. Company should promote the promotional activity of the product in the market. 2. A few customers know about the investment portfolio of the company under the fund chosen by them. which shows customers carelessness about their own product. 3. it so because investment is always made by customers own SUGGESTIONS 1. Company decrease the allocation charges and other charges after that company increases in the selling the product. kinds of funds available in their plan. Fund analysis says that approx 75% customers know the different choice for the funds. 6. Many customers have knowledge about administrative charges and other charges. 4. 7. 51 . 8. Basically customers don’t know what an investment portfolio is so they don’t take interest for knowledge of it. Company should give effective training to their agent so that more customers get attracted towards ULIP products. From the ULIPs analysis we can conclude that most of customers have Future Balance and Future Maximise which shows that these products are more demandable and popular among customers.5. 9.

Questionnaire Name : ____________________________ Age : ____________________________ Occupation : Private________ Business________ Public___________ Others___________ Q:1 Income level (annually) Below 2 lakh______ 52 . The sample size was small 3. 2.LIMITATIONS 1. The time period in which the project had to be completed was two months. in some cases views were not communicate properly. Since the forms were filled by the interviewer there is a fair chance of lack of understanding. 4. Some of the people interviewed were not clear about their opinion.

? Advertisement__________ Agent_________ Friend__________ Q:3 Which ULIP product of the company have you taken? Please provide name of the plan? Future Secure__________ Future Balance__________ Future Income_____________ Future Maximise____________ Q:4 Do you know about the key features of ULIP which you have taken? Yes______ No____________ Q:5 Do you know about the administrative charges & other charges in ULIP? Yes______ No_____________ Q:6 How long do you intend to remain invested in ULIP? 3 years_______ Between 5-10 years______ Between 3-5 years________ Above 10 years_________ Q:7 Rate the factor that you consider before investing in ULIP? Flexibility__________ Tax Saving_________ Returns______________ Risk cover___________ Q:8 After sales service? Yes________ No___________________ 53 .Between 2-5 lakh______ 5 lakh & above_________ Q:2 How did you come to know about of FUTURE GENERALI LIFE INSURANCE CO. LTD.


insurance.futuregenerali.ind.findarticles.com www.in www.Bibliography BOOKS • • • Life Insurance (Insurance Institute of India) Insurance Industry (ICFAI publications) Study Guide.org www.com www.irda.insuranceworld.com 55 .Principles and Practices of Life/ General Insurance by AIMA WEBSITES • • • • • www.

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