Professional Documents
Culture Documents
Blackbookproject 190324204137
Blackbookproject 190324204137
PREPARED BY
JEET GANGAR
ROLL NO. 05
T.Y.B&I
GUIDE
Mrs. LEKHA VISARIA.
UNIVERSITY OF MUMBAI,
MUMBAI- 400028
1
T.Y BANKING & INSURANCE (SEM-VI)
ACKNOWLEDGEMENT
2
T.Y BANKING & INSURANCE (SEM-VI)
ABSTRACT
.
3
T.Y BANKING & INSURANCE (SEM-VI)
4
T.Y BANKING & INSURANCE (SEM-VI)
INDEX
SR.NO PARTICULER PAGE.NO
CHAPTER.1 INTRODUCTION 11
5
T.Y BANKING & INSURANCE (SEM-VI)
1.10 21
ASSUMPTION OF THE
STUDY
1.11 21
REVIEW OF LITERATURE
1.12 23
METHODOLOGY
1.13 24
RESEARCH QUESTION
1.14 24
SIGNIFICANCE OF THE
PRESENT STUDY
1.15 24
SCOPE OF THE PRESENT
STUDY
CHAPTER.3 RESEARCH 34
METHEDOLOGY
6
T.Y BANKING & INSURANCE (SEM-VI)
7
T.Y BANKING & INSURANCE (SEM-VI)
INTERPRITENTION
CHAPTER 6 SUGGESTION 58
BIBLIOGRAPHY 60
ANNEXURE 61
8
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-1
INTRODUCTION
9
T.Y BANKING & INSURANCE (SEM-VI)
10
T.Y BANKING & INSURANCE (SEM-VI)
11
T.Y BANKING & INSURANCE (SEM-VI)
12
T.Y BANKING & INSURANCE (SEM-VI)
13
T.Y BANKING & INSURANCE (SEM-VI)
14
T.Y BANKING & INSURANCE (SEM-VI)
life insurance:-
INSURER INSURED
On Recepit of Claim, Verify Type of Suffering Loss or The
the claim Damage
Claim negotiation
Claim settlement
Claim payment
15
T.Y BANKING & INSURANCE (SEM-VI)
16
T.Y BANKING & INSURANCE (SEM-VI)
17
T.Y BANKING & INSURANCE (SEM-VI)
1.8) Hypothesis:-
18
T.Y BANKING & INSURANCE (SEM-VI)
study:-
19
T.Y BANKING & INSURANCE (SEM-VI)
for not settling the claim was also a bogus one, she
alleged. Sunanda then wrote to the area manager of LIC,
Mumbai, justifying her claim. The Mumbai office too (vide
letter dated April 20, 1995) refused to settle the claim,
Kanthale added.
She then lodged a complaint with Akola District
Consumers Grievances redressed forum. In the
complaints, she applied to the forum to issuer the
necessary directives to the LIC for paying Rs 40,000
along with 18% interest, a compensation of Rs 50,000
towards mental tension caused and Rs 1,000 towards
legal expenses.
Defending the stand taken by the company, the LIC
refuted all the allegations made by Sunanda.
Manoharrao, who held the policy, had kept the
information about his health a secret while purchasing the
instrument, the company alleged.
The forum referred to columns 14 and 26 in the
application for where the policy purchaser had made
statements about his health. The form was duly signed by
Dr. B R Jain, the forum said. The LIC officials produced
proofs before the forum regarding heart disorder of the
policy holder and sick leave availed by him after taking
the policy. However, they could not prove that Manohar
was not well on the day of purchasing the policy.
The District Consumer Grievances Redressal Forum has
directed Senior Divisional Manager of Life Insurance
Corporation (LIC) Amravati, Area Manager, Mumbai and
Branch Manager, Akola, to pay Rs 20,000 to Sunanda
20
T.Y BANKING & INSURANCE (SEM-VI)
1.12) Methodology:-
21
T.Y BANKING & INSURANCE (SEM-VI)
22
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-2
CASE STUDY
23
T.Y BANKING & INSURANCE (SEM-VI)
(1)
24
T.Y BANKING & INSURANCE (SEM-VI)
25
T.Y BANKING & INSURANCE (SEM-VI)
26
T.Y BANKING & INSURANCE (SEM-VI)
(2)
Life insurance Corporation of India v/s Neelam Metha
The case arose following the refusal of LIC to pay the
insurance money following the death of her husband
Mahendrabhai Metha. LIC had repudiated the life policy
alleging that he had hid from it that he was suffering from
diabetes at the time of taking the insurance policy in
December 1993. On 6 November 1994 he died following
a heart attack. Neelam told the consumer forum that she
came to know that her husband had a life policy with LIC
3 months after his death, when she started receiving
‘forms one after another to be filled through LIC agent’.
She then filled up all the relevant papers.
She also formally informed LIC about death of her
husband and claimed the insurance money. Thereupon,
LIC intimated her that the claim for her husband’s
insurance policy was repudiated because the life assured
had ‘deliberately’ withheld information regarding his ‘pre-
existing illness which was diabetes’ and which, it said,
had led to his death. It also alleged that because of this
27
T.Y BANKING & INSURANCE (SEM-VI)
28
T.Y BANKING & INSURANCE (SEM-VI)
(3)
Life insurance Corporation of India v/s Lily Rani Roy
The petitioner has purchased a life insurance policy from
the appellate and premiums were paid regularly. The
maturity of the said policy was in 1978. Because of some
personal reasons the claim was not filed. The petitioner
had filed the claim after 13 years of its maturity. The LIC
of India rejected the payment on a plea that claim is time
barred claim and as such the claim will not be paid.
The petitioner has filed a complaint with consumer council
with a request to direct the LIC for the payment of the
maturity claim as the policyholder had paid the entire
premium till the date of the maturity and has the right to
receive the claim amount. Assured held LIC guilty under
Consumer Protection Act, 1986 Section (I) (g) for
deficiency in service.
But, the LIC of India pleaded that the Corporation will be
maintaining the records for a period of 5 years only and
the Corporation has received the claim notice from the
29
T.Y BANKING & INSURANCE (SEM-VI)
30
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-3
RESEARCH METHOLODOGY
31
T.Y BANKING & INSURANCE (SEM-VI)
a) Primary data-
b) Secondary data-
Internet- www.investopedia.com
www.wikiipedia.com
Newspaper-The economics times
32
T.Y BANKING & INSURANCE (SEM-VI)
33
T.Y BANKING & INSURANCE (SEM-VI)
34
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-4
DATA ANALYSIS AND
INTERPRETATION
35
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
60
48%
50
40
30 26%
20%
20
10 06%
0
HDFC ICICI LIC Others
36
T.Y BANKING & INSURANCE (SEM-VI)
100 100%
90
80
70
60
50
40
30
20
10
0%
0
Yes No
Interpretation:- From the above diagram, we can say that all the
people are aware of claim settlement.
37
T.Y BANKING & INSURANCE (SEM-VI)
100 100%
90
80
70
60
50
40
30
20
10
0%
0
While taking After maturity
policy
38
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
60 54%
46%
50
40
30
20
10
0
Yes NO
39
T.Y BANKING & INSURANCE (SEM-VI)
2 TOTAL 50 50 50
RESPONDENT
100
90
80
70
60
50
40% 40%
40
30
10%
20
10
0
1 time 2 times 3 times or more
40
T.Y BANKING & INSURANCE (SEM-VI)
80
68%
70
60
50
40
32%
30
20
10
0
By insurance Personally
companies
41
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
60
48%
50
40
30 26%
20%
20
10 06%
0
HDFC ICICI LIC Others
42
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70 64%
60
50
40 36%
30
20
10
0
Easy Length
43
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
60
50 42% 42%
40
30
20 16%
10
0
15 Days 1 Month 2 Months or
more
44
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
60%
60
50
40%
40
30
20
10
0
Yes No
45
T.Y BANKING & INSURANCE (SEM-VI)
100
90
80
70
58%
60
50 42%
40
30
20
10
0
Yes No
46
T.Y BANKING & INSURANCE (SEM-VI)
2 TOTAL RESPONDENT 50 50
100
90
80%
80
70
60
50
40
30
20%
20
10
0
Yes No
47
T.Y BANKING & INSURANCE (SEM-VI)
2 TOTAL RESPONDENT 50 50
100
90
80%
80
70
60
50
40
30
20%
20
10
0
Yes No
48
T.Y BANKING & INSURANCE (SEM-VI)
2 TOTAL RESPONDENT 50 50
100
90
80
70 66%
60
50
40 34%
30
20
10
0
Yes No
49
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-5
SUMMARY OF FINDINGS AND
CONCLUSION
50
T.Y BANKING & INSURANCE (SEM-VI)
Summary of Findings:-
51
T.Y BANKING & INSURANCE (SEM-VI)
52
T.Y BANKING & INSURANCE (SEM-VI)
Conclusion:-
53
T.Y BANKING & INSURANCE (SEM-VI)
54
T.Y BANKING & INSURANCE (SEM-VI)
Chapter-6
SUGGESTION
55
T.Y BANKING & INSURANCE (SEM-VI)
56
T.Y BANKING & INSURANCE (SEM-VI)
BIBLIOGRAPHY
WEBLIOGARPHY:-
www.investopedia.com
www.wikipedia.com
BIBLIOGARPHY:-
The Times of India
Magazines
57
T.Y BANKING & INSURANCE (SEM-VI)
ANNEXURE
58
T.Y BANKING & INSURANCE (SEM-VI)
Name: ______________________________________
Education:____________________________________
Q.1. From which company you have taken life insurance?
HDFC
ICICI
LIC
Others
59
T.Y BANKING & INSURANCE (SEM-VI)
60
T.Y BANKING & INSURANCE (SEM-VI)
Sign:
__________
61