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STUDY ON “CONSUMER PERCEPTION & SATISFACTION ’’ IN HDFC STANDARD LIFE INSURANCE,
A Report of Project Work Submitted in Partial Fulfillments of The Requirements for the Award of Degree of BACHELOR OF BUSINESS ADMINISTRATION
ENROLMENT No: BB09/003 Under The Guidance of Assistant Prof. Nitin Vasu
NIMS Institute of Management & Computer Sciences NIMS University Rajasthan Jaipur-303 001 Rajasthan
NIMS INSTITUTE OF MANAGEMENT AND COMPUTER SCIENCES Jaipur – 303 121 RAJASTHAN BONAFIDE & FORWARDING CERTIFICATE
It is to certify that the Navratan Sharma/o Mr. Kunj Bihari Sharma is a bonafide student of this institute with enrolment number BB09/003. Based on the written consent of the faculty guide Assistant Prof. Nitin Vasu we are forwarding his project report titled “CONSUMER PERCEPTION & SATISFACTION” for further evaluation to The Controller of Examinations NIMS University, Jaipur Rajasthan.
Ms. Pallavi Tomar (Director NIMSIM&CS)
Certified that this dissertation is approved in quality and form
NIMS INSTITUTE OF MANAGEMENT AND COMPUTER SCIENCES Faculty Guides Certificate
TO WHOMSOEVER IT MAY CONCERN This is to certify that the dissertation titled “CONSUMER PERCEPTION & SATISFACTION” is a bonafide work done by Navratan Sharma/o Mr. Kunj Bihari Sharma under my guidance in partial fulfillment of Bachelor of Business Administration programme of NIMS University Rajasthan. This report has been checked by me on the basis of the rough draft submitted and the view expressed in the report is only that of the researcher and not of this institute.
Assistant Prof. NitinVasu
Place: - NIMS INSTITUTE OF MANAGEMENT & COMPUTER SCIENCES NIMS UNIVERSITY, JAIPUR, RAJASTHAN.
I do hereby declare that the project work title “CONSUMER PERCEPTION & SATISFACTION” is a record of bonafide work done by me under the supervision of Assistant Prof.Nitin Vasu.NIMS Institute of Management & Computer Sciences Jaipur- 303121 and submitted to NIMS University, Rajasthan in partial fulfillment of the requirements for the award of degree of Bachelor of Business Administration.
Navratan Sharma BBA
NIMS INSTITUTE OF MANAGEMENT & COMPUTER SCIENCE NIMS UNIVERSITY, JAIPUR, RAJASTHAN.
The immense help and support received from HDFC Life Insurance Limited overwhelmed me during the project. HDFC Life Insurance limited. Kuldeep Patel (Sales manager of HDFC Life Insurance. Sometimes words fall short to show gratitude. the same happened with me during this project. Jaipur) for providing me with an opportunity to work with HDFC Life Insurance Limited at Jaipur as a company project guide who has provided me with the necessary information and his valuable suggestion and comments on bringing out this report in the best possible way. Rajasthan 7 . I also place on record my thanks to the authorities of NIMS Institute of Management for giving me the necessary permission for the survey and to the authorities of HDFC life Insurance for giving me the necessary support and permission for the study. Jaipur) and company project guide. guidance and support. Jaipur.Acknowledgement I place on record my indebtedness and gratitude to Almighty God for the inspiration. I am thankful to that power that always inspires me to take right step in the journey of success my life. I also very thankful to my friends who help me in completion of the project. My sincere gratitude to Mr. Mr. Navratan Sharma BBA 6th Sem. I am highly indebted to Mr. NIMS Institute of Management. I do thank my family members and all others who have helped me to come through this way. who has provided me the necessary information and his valuable suggestion and a good support in understanding the basics of the life insurance easily.Dinesh Bansal (Center Manager.
CHAPTER NO 1 CONTENTS INTRODUCTION INDUSTRY PROFILE PAGE NO 8-14 15-26 COMPANY PROFILE 26-33 PRODUCT 33-40 THEORITICAL BACKGROUND OF THE STUDY 40-43 2 DESIGN OF THE STUDY TITLE OF THE STUDY 43 43 STATEMENT OF PROBLEM 44 SCOPE OF THE STUDY 44 OBJECTIVES OF THE STDY 3 4 RESEARCH DESIGN OF THE STUDY RESEARCH METHODOLOGY SAMPLING PLAN OF THE STUDY LIMITATION 44-45 45-46 46-47 47-48 49 8 .
and we need insurance. a security blanket. effectively a portion of risk is transferred to the insurer.5 6 7 8 DATA ANALYSIS & INTERPRETATION FIDINGS. When we buy insurance. Therefore. Whatever stage of life we are at. SUGGESTINS &CONCLUSION BIBLIOGRAPHY QUESIONNAIRE 50-63 63-67 67-68 68-70 INTRODUCTION Introduction of insurance: Insurance is commerce. insurance if aimed at compensating the financial loss suffered an insured event. chances are. Definition: Insurance can be define as” a contract by which insurance agrees to pay the insured a compensation for specified damage loss or injury suffered in exchange for periodic payment called premium” Insurance cannot prevent the happening of the event. Classification of insurance: 9 . It provides financial protection against unexpected events. Insurance product is a financial contract entered into by parties with a define consensus of mind. This protection comes at a price. but it‟s a function of what we might otherwise find ourselves burdened with. is a risk management tool. Insurance. it can protect a person from the financial losses he may suffer after the happening of the event. in its purest from.
1. the total accumulated savings alone will be available. The loss of the income earning capacity can be on the happening of the following events when the life is assured. Death and life neither of them can be compensated. 3. Life insurance aims to compensate the „Income Earning Capacity‟ of the person. Objectives and advantages of life insurance: Protection against Risk of Untimely Death: Life insurance is a product. There are a number of life insurance policies which in addition to life cover also provide the means of investing one‟s income. with offers protection against the risk of Death the full sum assured is made available under a life assurance policy. 4. whereas under other savings schemes. Death. This amount thus provides for the old age. Protection during old age: Life insurance can also be used as a means of saving one‟s future. 10 . income –earning capacity of the person is covered. Life Insurance General Insurance Life insurance: This is provided for the payment of sum money on the death of the insured person due to natural causes or on the expiry of a certain number of years if the insured person is then alive. Sickness (critical illness). 2. Accident (Death or permanent disability due to accident). The sum as per the policy will be received only after a period of time.Insurance is basically classified into two categories. Events covered in Life Insurance: In Life Insurance. 1. Retirement. 2.
The unit link products gives comprehensive insurance solution that cater to an individual‟s need of earning potentially high return as well as stay for life. Educational Requirement and Charity: The object of insurance may be to serve as a security to education funds in respect of loans advanced for educational purpose or to provide donations to charitable institution like hospital and school. Investment Option. Thus there 11 . Terminatio1n of a life insurance policy by the policyholder usually results in substantial loss in benefits under the policy to the policyholder. Nomination and Assignment: The life insured can name the person or person whom the policy money would be payable in the event of his death the proceeds of a life insurance policy can be protected against the claims of the creditors of the life insured by effecting a valid assignment of the policy. The beneficiaries are fully protected from creditors expect the extent of any interest in the policy retained by the insured. Forced savings: Payment of life insurance premiums is compulsory and becomes a habit. Loan from the Insurance Company: A policy holder can take a loan from his insurance company against the security of his life insurance policy provided the term of the terms of his policy allow such a loan can be taken usually after a period of 3 years from commencement of the policy and is a percentage of its surrender value. One is thus encouraged to save and keep one‟s policy alive. Marketability and Suitability for Borrowing: After 3 years. Saving in other scheme can be easily withdrawn and may be used for less worthy purpose. A life insured policy is accepted as a security for a commercial loan. if the policy holder finds that he is unable to continue payment of premiums he can surrender a policy for a cash sum.
accident etc. It covers the loss or damage to insured property by specific perils for example: damage of property in manufacturing premises due to fire may result in total or partial stoppage of production process leading to loss of profits. according to the interest so expressed and shall not so long as any object of trust remains be subject to the controls of the husband or to his creditors or from part of his estate. General Insurance: Insurance other than life fall under general insurance. Under sec 88 the benefits on premium paid by an individual for life insurance policy on his own life/on the life of spouse children minor or major. even after his untimely death. An insurance policy taken by a married man in the above manner is ideal way to protect the interest of his wife and children. Protection to Wife and Children: Under sec 6 of the married woman‟s property act if a married man takes a policy of the life insurance on his own life and expenses on the face of it to be for the benefit of his wife or of his wife and children or any of them. Marine Insurance: 12 . The loss may be due to fire. It covers loss of every other physical or non-possession. theft. Such loss of profit can be covered under loss insurance policy. including married daughters.is an option to invest money in the products that combine the best of insurance and investment. the general insurance is further classified into Fire insurance: It covers movable and immovable properly having monetary value. Tax Benefits: The Indian income tax act provides tax concessions to the policy holder both on payment of premium and on the maturity amount. In a volatile market conditions it is possible to secure both as one can hedge the investment with saver investment vehicles that provide a diversified portfolio. than it shall be deemed to be a trust for the benefit of his wife and children or any of them.
Tax.It is of the oldest branches of the insurance.benefits One of the several reasons given to buy life insurance is to save on tax. Miscellaneous Insurance: Insurance that takes other fire and marine is known as miscellaneous insurance. In non life insurance the value can be determined with much ease. burglary insurance. Difficulty in determining value of human life in insurance. Life insurance is not a strict contract of indemnity. They force the habit of regular saving and help to create funds for lives. This single fact says a lot about how most Indians who get investment plans to get their lives insured. It plays a significant role in both and internal and international trade. In non life insurance the risk is uncertain and the insured event may or may not result in the loss to the policy holder Life insurance is a long term contract while non life insurance contracts are one year contracts. Non life insurance contracts are in indemnity contracts. save on tax build a retirement corpus and fund their children‟s education. 13 . It‟s true that there are extremely generous tax breaks to be avoided of life insurance. Insurance as investment Endowment plans are the best selling life insurance product in the country. road. Endowment plans offers good value to novice investment and those with a low appetite for risk. It is covered under the several classes of which motor insurance. The insurers undertake to indemnify the insured against the losses occur during transit by rail. and the income earning capacity will be stopped by death. many financial goals. among other things. sea or air. and unlike with mutual funds on stocks. there is no risk of capital erosion. cattle and crop insurance are most important Differences between life insurance and Non life insurance (General Insurance) Risk is certain in life insurance and non life insurance: Every person who is insured is likely to die. low returns. But there is a price you pay for such certainty.
the rebate claims will be deemed as tax payable. The Synods in and created the Corporation for Relief of Poor and Distressed Widows and Children of 14 .S. Life insurance dates only to ancient Rome. originally as insurance for traders: merchants. predecessor to the famous. began in the late 1760s. along with investments with other instruments like PPF and NSC. Modern life insurance started in late 17th century. INDUSTRY PROFILE: History of insurance: Insurance began as a way of reducing the risk of traders. The first insurance company was formed in 1732. the rebate under section 88 of the income tax act is an effective way to lower tax rebates under this section. The sale of life insurance in the U. the amount of tax rebate that can claim under section 88 in a year on the income that year. Note: if you claim a rebate on investment in insurance but withdraw from it with in 2 years. but it provided only fire insurance. as early as 5000 BC and 4500 BC in.Premiums: For the salaries. ship owners and underwriters met to discuss deals at Lloyd's Coffee House. "burial clubs" covered the cost of members' funeral expenses and helped survivors monetarily.
Humans are exposed to many serious perils. They ensured a less volatile source of life necessities then that which ensures isolated human & families could provide and help their less fortunate members in the time of crises. All through individual cannot predict or completely prevent such occurrences. capacity. they can provide for their financial effects. shipwreck. many insurance companies in the United States for their owners. in response to bills passed in 2001 and in 2003. storm and death. voidance or reduction of losses occurring through misfortunes such as death. Insurance is an integral part of most enterprises. General information: Human have always sought securities. but fewer than half a dozen survived. The group may be our employer. Human today continue their quest to achieve security and reduce risk uncertainty. The physical and economical securities formerly provided by the tribes or extended family diminished with industrialization. In some ways however. tribes. such as property loss from fire or windstorm. Indeed. Insurance contracts require an agreement. clans. they added that their trustees voted to end the sale of such policies 15 years before the. Insurance does not prevent losses. compliance with the status of frauds and delivery. Encyclopedia of finance and banking defines insurance as the elimination of or protection against risk amenable to actual calculation. The 15 . groups have been the primary source both emotional and physical security since the beginning of humankind. etc. Between 1787 and 1837 more than two dozen life insurance companies were started. Our income dependent. we today are more vulnerable that our ancestors. accident. the government. Prior to.Presbyterian Ministers in 1759. the companies have been required to search their records for such policies for example reported that Nautilus sold 485slaveholder life insurance policies during a two-year period in the 1840s. This quest for security was an important motivating force in the earliest formation of families. considerations. risk management program. legality. but concept is the same. and other groups. Episcopalian priests organized a similar fund in 1769. wealth acquiring lifestyle renders and our families more vulnerable to environment and societal changes over which we have no control. fire. or an insurance company. and personal losses from incapacity and death. We still rely on group for financial stability. it substitutes a small certain loss (premium) for a possible or contingent large loss. tornado. insurance is a contact between an insurer and insured where by the insurer identifies the insured against loss due to specific risks such as from fire.
liability other than automobile workers. explosion rain. 16 . Four classes of insurance business: Life insurance Fire insurance Marine insurance Miscellaneous insurance. the first Indian life insurance company started its business. compensation. fidelity and surety.insured is indemnified for the amount of loss. tornado and windstorm. earthquake. sprinkler leakage. and transportation. burglary and theft. 1870– Bombay Mutual Life Assurance Society. All mutual and legal reserves life insurance companies provide for a participation in dividends by all policy holders. flood. in return for payment of periodic premiums. 1818 – Oriental insurance company was established. or for the face of his policy. limited payment. ordinary. ocean marine. riot and civil commotion. aircraft. for the insured amount. inland navigation. Tracing the developments in India. accident in health. group industrial and annuities. hale. Fire & marine-fire. steam boiler. The principle kinds of insurance are as follows: Life-term. etc. Causality and surety -automobile liability. endowment. automobile property damage. machinery. plate glass. insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries. with a variety of combinations of the four basic forms. motor vehicle. etc. Brief history of insurance sector in India: The insurance sector in India has come full circle from being open competitive market to nationalization and back to liberalized market again. In this way the cost of insurance to the insured is reduced.
Insurance sector reforms: In 1993 Malhotra committee. Recommendation included in the report submitted by the committee Structure: Government stake in the insurance companies to brought down to 50% Government should takeover the wordings of GIC and its subsidiaries. 1912 – Indian life insurance companies act as the first statute to regulate the life insurance business 1928 – The Indian insurance companies act enacted to enable the government to collect statistical information about both life and non life insurance business. Postal life insurance should be allowed to operate in rural areas Only one state level life insurance company should be allowed to operate in each state. headed by former finance secretary and RBI governor R N Malhotra was formed to evaluate the Indian insurance industry and recommended its future direct on. Foreign companies may be allowed to enter the industry collaboration with domestic companies. The Malhotra committee was set up with the objective of complimenting the reforms initiated in the financial sector. so that these subsidiaries can act as independent companies. Regulatory body: 17 . Competition: Private companies with minimum paid up capital of Rs. 1938 – Earlier legislation consol dated and amended to by the insurance act with the objective of protecting the interest of insuring public. no company should deal in both life and general insurance through single entity. 1 billion should be allowed to enter the industry. All the insurance companies should be given greater freedom to operate. 1956 – 245 Indian and foreign insurers and provident societies taken over by the central government were nationalized.
another set to motives. Address can be obtained from the officers of LIC and other insurers. become motivates. Need for life insurance: Maslow’s need hierarchy theory: Making the person feel “SAFE” other expression of the need for safety occur when individuals are confronted with real emergencies e. 18 . Each ombudsman is empowered to redress customer grievances in respect of insurance contracts on personal lines where the insurance amount is less than 20 Lakes. 1938 and Insurance Regulatory & Development Authority Act. Life insurers transact life insurance business. Tariff Advisory Committee (TAC) lays down tariff rates for some of the general insurance products. Customer Protection: Insurance industry has ombudsmen in 12 cities. general insurers transact the rest. The insurance act should be changed An insurance regulatory body should be set up. salary increment. once physical needs are met. accidents. Insurance Act. Maslow suggested that the safety needs are most readily observed in infant and young children because of their relative‟s helplessness and dependence on adults. safe working conditions. safety or security needs. etc. the primary legislation that deals with insurance business in India is. The primary motivating force here is to ensure reasonable degree of continuity.g. war. crime. unionization and lobbying for prospective registration. structure and predictability in once environment. 1999 Fire and miscellaneous insurance business are predominant motor and vehicle insurance is compulsory. No companies are permitted as per law. natural calamities. Legislation (as on 1-4-2000): Insurance is a federal subject in India. order. in accordance with the ombudsmen scheme. Security needs in original context co-related to such factors as job security.
thefts.corporate and otherwise. natural disaster. at least be prepared for them and aftermath. $ in 1994 JAPAN 3817 UK 1280 USA 964 19 . They are built into the working of universe. health and disability and pens on plan products. wealth. If you cannot beat the manmade and natural calamities. Hence the insurance is the essential means to financially compensate for loses that life throws at people. Insurance is contract between two parties one is insurer (insurance company) and insured (the person or entity seeking the coverage). waiting to happen. illness.Risk and uncertainty are part of life great adventures accident. GDP Growth rate: over 6% per year on an average for the last decade. Global life insurance trends: Country life premium per capita U.S. Savings rate: around 26% of GDP Estimated middle class population: 300 million Insured population: 70 million India has an enormous middle class that can afford to by life. These unforeseen events are determined as risk and that is why insurance is called is the risk cover. The level of penetration of life insurance in India compared to other developed nations can be judged by a comparison of per capita life premium. Insurance that is main answer to the vagaries of life. India at glance: Economy: India is 5th largest economy in the world in terms of purchase. Where the insurer agrees to pay the insured for the financial loses arising out of any unforeseen events in return for a regular payment of the premium.
INDIA 800 Life insurance market in India INDIAN COMPANY HDFC Tata Group Bajaj Max India IDBI SBI Bajaj Allianz Cholamandalam ICICI Vysa Bank Spic Sanmar Group FOREIGN COMPANY Standard life AIG Allianz New York Principal Alliance Capital Chubb Axis Prudential ING Met Life GIO of Australia Life insurance statistics: Table showing premium collection by various insurance companies 20 .
01 1801.87 187101.)2007-08(Rs.16 341.08 ICICI Prudential 3641.88 233.92 Table showing market share of life insurance companies COMPANY HDFC Standard Bajaj Allianz 2006-07 (IN %) 0.in min.15 1.)% Growth 1271.99 HDFC Standard 1293.66 Max New York 673.15 718.70 61.34 203.14 Private total LIC TOTAL 9581 159767.88 153.81 522.50 311.84 95.07 Birla Sun Life Aviva 1295.96 21 .07 106.5 260.51 172.14 Met Life 76.2 1797.89 179.1 Bajaj Allianz ING Vaysa AMP Sanmar SBI Life Tata AIG 633.64 162746.68 134.38 1314.33 24254.20 427.27 278.53 515.37 2007-08 (IN %) 1.12 0.55 7509.82 1959.COMPANY 2006-07(Rs.93 10.05 726.76 0.59 63.62 771.48 Kotak Mahindra352.98 183.23 247.in min.62 169348.10 4498.82 2093.
34 0.7 0.39 0.01 2.42 0.4 0.08 0.15 0.96 4.ING Vaysa AMP Sanmar SBI Life Tata AIG ICICI Prudential Birla Sun Life Aviva Max New York Met Life LIC 0.05 94.04 0.77 0. COMPANY PROFILE Introduction: 22 .12 87.1 0.05 TOTAL 100 100 Registration of Indian insurance companies The registration of Indian insurance companies involves the following contents Requisition for the registration Application for registration Renewal of certificates of registration Action in case default Certificates to existing insurers.31 2.41 0.4 0.05 0.15 1.
Ltd HDFC Securities Ltd HDFC Chubb General Insurance Co Ltd About standard life: The Standard Life group has been looking after the financial needs of customers for over 180 years 23 .000 houses since its incorporation in 1977. 00. Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year Stable and experienced management High service standards Awarded The Economic Times Corporate Citizen of the year Award for its longstanding commitment to community development. taxation.000 Cr. As at March 31. The board primarily focuses on strategy formulation. 7. 36. and with the privatization in insurance sector. The depositor base now stands at around 1 million depositors. About HDFC: HDFC is India’s leading housing finance institution and has helped build more than 23. Presented the ‘Dream Home’ award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards. construction and urban policy & development. it also entered into insurance mark Family companies: HDFC Limited HDFC Bank Ltd HDFC Asset Management Co. 2004.HDFC is a professionally managed organization with a board of directors consisting of eminent persons who represent various fields including finance. In Financial Year 2003-04 its assets under management crossed Rs. designed to increasing value to shareholders.840 crores. policy and control. It entered into various sectors and offering services like banking. outstanding deposits stood at Rs. mutual funds etc.
Bank. investment. Healthcare. pension. Around this time standard life purchased a 5% stake in HDF. It currently has a customer base of around 7 million people who rely on the company for their insurance. It was clear from the outset both companies shared values and beliefs and a strong relationship quickly formed. The next three years were filled with uncertainty. Canada and International. 2005 and 2006 at the Money Marketing Awards. to enter life insurance market. and it was voted a 5 star life and pension’s provider at the Financial Adviser Service Awards for the last 10 years running. due to changes in government and ongoing delays in getting the IRDA (Insurance Regulatory and Development Authority) Act passed in parliament. The partnership: HDFC and standard life insurance first came together for a possible joint venture. Despite this both companies remained firmly committed to the venture. The '5 Star' accolade has also been awarded to Standard Life Investments for the last 10 years. Investments. further strengthening the relationship. (IDFC) standard Life also started to use the services of the HDFC Treasury department to advise them upon their investment in India. In October 1998. the joint venture agreement was renewed and additional resource made available. 24 . banking and health-care needs Its investment manager currently administers £125 billion in assets It is a leading pensions provider in the UK. and to Standard Life Bank since its inception in 1998. Towards the end of 1999. in January 1995. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006 Its business operates within six areas: UK Life & pensions. the opening of the market looked very promising and both companies agreed the time was right to moves the operation to the next level. and is rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's Standard Life was awarded the 'Best Pension Provider' in 2004. In October 1995 the companies signed a 3-year joint venture agreement. Around this time standard life purchased 2%of Infrastructure Development Finance Company Ltd.
HDFC are the main shareholders HDFC Standard Life. was to be first private company to re-enter the life insurance market in India. Track Record so far: 25 . Company‟s ambition from as far back as October 1995. which can be easily customized to specific needs. based in Mumbai. Our group solutions have been designed to offer you complete flexibility combined with a low charging structure. Around this time standard life purchased a further 5% stake in HDFC and 5% stake in HDFC Bank. Our key strengths: Financial expertise: As a joint venture of leading financial services groups. The mutual fund was launched on 20th July 2000.4%while standard Life owns 18.6% Given Standard Life‟s existing investment in the HDFC Group. this is the maximum investment under current regulations. this ambition was realized when HDFC Standard Life Insurance was the only life company to be granted a certificate of registration. The ambition of HDFC Standard Life is to mirror the success of the parent companies and be the yardstick by which all other insurance companies in India are measured. On the 23rd of October 2000. with 81. In a further development standard life agreed to participates in the Asset Management Company promoted by HDFC to enter the mutual fund market. HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently. Incorporation of HDFC Standard Life Insurance Company Limited: The company was incorporated on 14th August 2000 under the name of HDFC Standard Life Insurance Company Limited.Therefore in January 2000 an export team from the UK joined pocked team from HDFC to r\from the core project team. HDFC and standard life have a long and relationship built upon shared values and trust. Range of solution: We have a range of individual and group solutions.
000 lives year ending March 31. depositors. India’s number 1 personal finance magazine Future: HDFC has always been market-oriented and dynamic with respect to resource mobilization as wall its lending programmed.859cr and new business premium income stood at Rs.685cr The company has covered over 9. the easiest to deal with.2003" by Outlook Money magazine. offer the best value for money. 26 . Vision and values: Our Vision: 'The most successful and admired life insurance company. Internal systems have been development to be robust and agile. to account changes in the volatile external environment. 2. Over the years. 2008 stood at Rs.59. 'The most obvious choice for all' Our Values: Values that we observe while we work: Integrity Innovation Customer centric People Care “One for all and all for one” Team work Joy and Simplicity Accolades and Recognition Rated by 'Business world' as 'India's Most Respected Private Life Insurance Company' in 2004 Rated as the "Best New Insurer . it hopes of capitalize on this loyal and satisfied client base for future growth. for the year ending March 31. and set the standards in the industry'. HDFC has developed a vast client base of borrowers. This renders it more than capable to meet the new challenges that have emerged. 4. 2008. which means that we are the most trusted company. shareholders and agents.Our gross premium income.
February 2.IRDA confirms income tax benefits to private insurance companies February 13. 2002. 2003.First group Insurance policy was sold in Chennai. 2002. 2001. for providing specialized financial services..1000cr sum assured October 17. HDFC Standard Life Insurance and ICICI Prudential are the first private insurances to get from IRDA to issue policies. Each institution is being fine and service.HDFC Standard Life insurance launches its Personal Pension Plan August 10.group Insurance business of HDFC Standard Life crosses Rs.HDFC Chubb General Insurance Company Limited Starts Operation in India February 6. VATECH Waban Ltd.HDFC Standard Life insurance launches its children‟s plan April 8. 2001.HDFC has developed a network of institutional through partnerships with some of the best institutions in the world. an Indian Arm of VATECH Waban. 2001. 2001. 2002. 2003. Important dates in company’s profile: In the year 2000. is a global player in the water market and they have taken group term insurance policy cover all its employees in India February 20.The two partners in the joint venture. with headquarters in Vienna. HDFC Ltd and Standard Life Assurance Company. premium from new business more than three and a half times over last FY insurance coverage crosses Rs. 2003.HDFC Standard Life declares results for FY 2002-03. 2001.5000cr mark 27 .HDFC Standard Life insurance launches its Bangalore operation October 22. UK have brought in the additional capital and the share capital of the company now stands at Rs 218cr February 18.HDFC Standard Life consultants pass online test by NSE May 9.HDFC Standard Life insurance launches its Term Assurance plans December 4.
HDFC Standard Life launches Unit Linked plans May 16 2005. Term Assurance Plan Loan Cover Term Assurance Plan Investment Plans Our investment products are well suited to meet your long-term needs. Protection Plans You can protect your family against the loss of your income or the burden of a loan in the event of your unfortunate demise.HDFC Standard Life declares results for FY 2004-05 August 18 2005.HDFC Blue star ties up with HDFC Standard Life insurance for group cover January 1 2004. we have a varied range of Products that you can choose from to suit all your needs. disability or sickness. Keeping this in mind.HDFC Standard Life declares results for 1st quarter of financial year 2005-06 PRODUCT PROFILE: Individual product: We at HDFC Standard Life realize that not everyone has the same kind of needs. These plans offer valuable peace of mind at a small price.October 6. These will help secure your future as well as the future of your family. 2003. Single Premium Whole Life Plan 28 .
Personal Pension Plan Unit Linked Pension Plan Unit Linked Pension Plus Our Immediate Annuity plan will aid you in receiving income post retirement and securing you financial independence. Savings Plans Our Savings Plans offer you flexible options to build savings for your future needs such as buying a dream home or fulfilling your children‟s immediate and future needs. Our Savings range includes Endowment Assurance Plan Unit Linked Endowment Unit Linked Endowment Plus Money Back Plan Children's Plan Unit Linked Young star Unit Linked Young star Plus Health Plans Our health plans provides you with timely support in case of any health related emergencies and helps you and your family to remain financially independent in difficult times Critical care plan Surqi care plan Group Products: One-stop shop for employee-benefit solutions 29 .Pension Plans Our Pension Plans help you secure your financial independence even after retirement.
The HDFC Endowment Assurance Plan gives you: An ideal way to secure your long-term financial goals 30 . so lovingly built by you. Other product: Rural products Tax benefits PRODUCT ANALYSIS: Endowment Assurance Plan: You have given your family the very best.HDFC Standard Life has the most comprehensive list of products for progressive employers who wish to provide the best and most innovative employee benefit solutions to their employees. in your absence? With our HDFC Endowment Assurance Plan. a lump sum is paid to that member‟s beneficiaries to help meet some of the immediate financial needs following their loss. You can ensure that they live a life of respect and dignity always. you have to guard your loved ones against any eventuality. As a judicious family man. On the death of any member of the group insured during the year of cover. More importantly. We offer different products for different needs of employers ranging from term insurance plans for pure protection to voluntary plans such as superannuation and leave encashment. your priority is to secure the well-being of those who depend on you. but also in the long term. How will they sustain their way of life. We now offer the following group products to our esteemed corporate clients Group Term Insurance Group Variable Term Insurance Group Unit-Linked Plan Social Product Development Insurance plan is an insurance plan which provides life cover to members of a Development Agency for a term of one year. you can ensure that your family remains financially independent. Not just for today. And there is no reason why they shouldn't get the very best in the future too. even if you are not around.
establishing a professional career or even a modest wedding is expensive. You can ensure that they live a life of respect and dignity. And there is no reason why they should not get the very best in the future too. you can ensure that your family remains financially independent. Today. the investment risk in investment portfolio is borne by the policy holder. Costs are increasing fast. Always. The HDFC Unit Linked Endowment plus II gives: Valuable protection to your family in case you are not around An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments Regular Loyalty Units to boost your fund value every year Flexible benefit combinations and premium payment options Flexible additional benefit options such as critical illness cover Children’s plan: As a parent. even if you are not around. your priority is your child's future and being able to meet your child's dreams and aspirations. With HDFC Unit Linked Endowment plus II. providing a good education. You have given your family the very best. Start building savings today with our HDFC Children's Plan. Just imagine how much you'll need when your child takes these important steps in life! Plan today to ensure a bright future for your child. So that your child is able to lead a life of respect and dignity with a secured financial future The HDFC Children's Plan gives you: 31 . Valuable protection to your family by way of lump sum payment in case of your unfortunate demise within policy term Lump sum payment (basic Sum Assured plus any bonus additions) on survival up to maturity date Very flexible benefit options and payment options Unit linked endowment assurance: In this policy.
The HDFC Unit Linked Young Star Champion gives: Valuable protection to your child in case you are not around An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments Bumper Addition to the fund value at maturity Flexible premium payment options No need to go for medicals. Valuable protection to your family by way of lump sum payment in case of your unfortunate death within the policy term 32 . Plan today to ensure a bright future for your children. Today. Just imagine how much you will need when your children take these important steps in life. Just filling a Short Medical Questionnaire will do! Money Back Plan: You have always believed in living life on your own terms. Costs are increasing fast. your priority is your children‟s future and being able to meet their dreams and aspirations. A lump sum payment on survival up to maturity date. The HDFC Money Back Plan is a „With Profit‟ Plan that gives you: A proportion of the basic Sum Assured as Cash lump sums at regular 5-year intervals within the policy term (see the table given below) an ideal way to secure your long. establishing a professional career or even a modest wedding is expensive. providing a good education.term as well as short-term financial goals. Start building savings today with our HDFC Unit Linked Young Star Champion so that your child is able to lead a life of respect and dignity with a secured financial future. Invaluable financial support to your child A choice to customize an ideal plan for your child Multiple options for multiple benefits Unit linked young star plan: As a parent. So why let the changing realities of everyday life overwhelm you and make your aspirations take a back seat? You can plan now to ensure that you have the necessary funds to meet your future financial needs.
This participating plan offers you the following benefits: Whole of life plan aimed at providing long-term real growth of your money Single premium investment plan In case of your unfortunate demise during the policy term.Single premium whole life insurance plan: The well-informed rightly said and proves how important investments are in today‟s date and age. this plan can help you ensure that life's uncertainties do not affect their shelter. The question that we all fear is – What about the risks attached? HDFC Standard Life Insurance brings to you a safe investment plan that would take care of your savings and nurture your earnings HDFC Single Premium Whole of Life Insurance Plan is a tailor-made plan well suited to meet your long-term investment needs. THEORITICAL BACKGROUND OF THE STUDY About the project: 33 . which are usually added annually. It is an affordable plan that has been designed to help your family repay the outstanding loan in case of your unfortunate death. this participating (‘With Profits’) insurance plan will pay your family the Sum Assured and compound Reversionary Bonuses. One can choose the lump sum that would replace the income lost to one's family in the unfortunate event of one's death Loan Cover Term Assurance Plan: This Plan provides a lump sum on the unfortunate death of the life assured within the policy term. An additional Terminal Bonus may be paid depending on the performance of the underlying investments During Guaranteed Surrender Periods you get the Sum Assured and all bonuses vested as at the date of surrender Term assurance plan: The HDFC Term Assurance Plan is an insurance policy that is designed to help secure your family's financial needs. If you are taking a loan to buy a house for your family. The plan does this by providing a lump sum to the family of the life assured in case of death or critical illness (if option is chosen) of the life assured during the term of the contract.
The target perceived based on its attributes such as motion. and his behavior is determined by his perception.This project is mainly concentrating on the various perceptions that each customer has on privet life insurance Company as well as on the value added service offered by HDFC std. etc. The people who are loud or very tall or attractive are more likely to be noticed in a crowed. Factors Influencing Perception: The perceiver The perceiver‟s personal characteristics play major role in influencing the way he interprets a target. I have given a brief introduction about it. life insurance. organizes and interprets stimuli into a meaningful and coherent picture of the environment in which he lives. changing life style of people and complexity of the products. The Target Perception is affected by characteristics of the target. he perceives is the reality. Perception: It may be define as the process by which an individual selects. sound. The situation 34 . This project is mainly concentrating on the perception of customers who have the policy in private Life Insurance companies and know about the value added service offered by the private Life Insurance Companies. As my title is all about perception and value added service. To a person. Service marketing: Service is an act of performing or offering that some thing extra which gives some benefits or value to the customers with out the ownership of the physical products Nowadays marketing of service is gaining importance due to increasing in demand from economic well being. size. irrespective of the objective trust. which makes them unique and poses a challenge for marketers to make them separately from goods. A person‟s attitude. motives. Service differs from physical goods in certain characteristics such as intangibility. past experiences and expectation affect his perception. interests. heterogeneity and perishes ability.
TITLE OF THE PROJECT: “CUSTOMER PERCEPTION ON VALUE ADDED SERVICES OFFERED BY HDFC STANDARD LIFE INSURANCE COMPANY LIMITED IN KHAMBHAT 35 . how much they can invest. life insurance: Electronic clearing system: It is a system where your premium gets directly debited from your bank account on your due dates. Market information: customers can check their policy status through online. Other service: Customized products All the information about the companies and its products are available in company’s web site. In case a customer wants to pay their premiums through cheque then they can draw them in favors of the insurance company in which he has the policy. location. Financial advisors: Advisors are the back is not just selling of the policies but listen to the customer like what they need. what kind of policies should be designed for them. person‟s state of mind and other situational factors influencing his perception The Value Added Services Offered By The HDFC std.Time.e. Clime settlement: clime settlement in private life insurance company is faster than the other insurance company. This helps the customer to pay the insurance premium with out to the insurance company. climate. Ease in renewal of the lapsed policy: Policy holder can easily renew their policy without much more difficulties for these customers can seed the help of financial consultant. DESIGN OF THE STUDY A. which policy suits them the and what kind of policy expect from us i.
three and four wheeler and life insurance to diversify their life insurance business. So the study concentrates to know the customer potential for new schemes launching in the customer area. To know the image of the private life insurance companies in the minds of the customers. C. OBJECTIVES OF THE STUDY: The main aim of the study is to accomplish the following objective: To know the satisfaction level of the customers on value added services provided by the HDFC Standard life insurance company To know the motivational factors those made them buy an insurance policy from the company. Therefore the problematic area of this study focuses on the study of customer perception towards value added services provided by the HDFC Standard Life Insurance Ltd.AND ANAND” B. Therefore HDFC Standard life insurance has felt that a look at the personal selling process would be immense use. Travel insurance. SCOPE OF THE STUDY: HDFC Standard life insurance is operating in the number of unit plus such as Home insurance. It is facing server competition. and also depends on the company‟s Value added services. STATEMENT OF PROBLEM: One of the major problems affecting the performance of the company is the change in the customer needs and requirements. D. and vehicle insurance like two. Health insurance. 36 . Asset insurance. marketing intelligence has suggested that the competitor‟s sales people are doing a better job.
In fact the research design is the conceptual structure with which research is conducted. Research design is the basic plan which guides the researchers in the collection and analysis of data required for practicing the research product. which helps in making note of findings. conclusions and also helps to give suggestions so data should accurate. analysis. collection. The main data feature of “Research Design” is that it specifies population to be studied. The main them of the chapter is to know the source of the data the researcher has collected. To know the perception of the customers on value added services offered by private HDFC Standard life insurance E. Thus data are usually subjected to value added process where It from is aggregated. To know the preferences of the people in the taking policies by conducting market survey. Descriptive research The research design selected for this research is descriptive research design. measurement and analysis of the data that was followed completing the study to ensure that study is relevant to the problem and will follow the predetermined and set data. typically about physical phenomenon. If it is inaccurate and not in proper order the whole out put gets affected and it may lead to confusion. correct and clear. Data are raw facts of observation. It consist the blue print for the collection. Limitation: 37 . information is processed data placed in a context gives value for the reader. manipulated and organized Its contents are analyzed and evaluated It is placed in a proper context for human user Therefore. It is a basis for analyzing and interpreting. and reporting of the data and finding relevant to a specific marketing situation facing the company. RESEARCH DESIGN OF THE STUDY: Marketing research can be defined as the systematic design.
The study is restricted to Pashim Vihar and Panjabi Bagh. Lack of adequate training regarding company product and services in the company Non availability of adequate secondary date. Individual and group interviews also under taken with difference consumers. METHODOLOGY: Collection of the data for the study can be drawn from following methods for study. F. NEWS papers. Data is collected from Primary data Secondary data Primary data It was collected through questionnaire prepared contains relevant questions that are both close ended and opened. The information has to be collected from the retailers. and also from the help of web site 38 . the next important step is data is step collection method. dealers and distributors with help of a structured well designed questionnaire. Sources of the data: After determining the objectives of study and research design. I have collected mainly the Primary Data for my study by utilizing the questionnaire and interview methods. several books. During the process of the study the data is collected from the target segment that is customers. Secondary data These data are collected from published sources such as Magazines.
Editing: Editing is the process of examining errors when there is some inconsistency in the responses as entered in the questionnaire or where it contains partial or vague answers. survey has been conducted on 100 retailers. Sampling method: The researcher had choice between probability and non probability sampling methods. They are editing coding tabulation. H.hdfcsl.com G. sample size used in similar studies incidence rates.www. In this study a simple non probability method namely convenience sampling was adopted. These three are very important in analyzing the data. The data was collected over a period of six weeks within West Delhi Area using well structured questionnaire. These include the nature of research. and nature of analysis. Sampling plan of the study: Sample size: Sample size refers to number of elements to be included in the study several qualitative factors should also be taken into consideration when determining the sample size. number of variable. completion rates. The respondents were contacted at their respective retail outlets in various parts of the city. 39 . and resources constraints. Plan of the data analysis: Planning and analysis of data can be done through three steps. For my study I have selected Non-probability method in which I selected convincing sampling method. During the process of the study. FIELD WORK: Survey was done in West Delhi Area.
Cost constraint: Survey is little costly. The selected respondents are from West Delhi. Tabulation: Tabulation comprises sorting of the data into different categories and counting the number of cases that belong to category the simplest way to tabulate is to count the number of responses to one question. Sample Size: the intended sample size is only 100. In marketing research projects and generally both types of tabulation are used. Time constraint: Since the project is to be conducted alone with on the job training there is time constraint in meeting people. Feedback from the respondents may be biased. Where two or more variables are involved in tabulation. which may not give a true picture of the consumer investment pattern. If coding is not done. I. This is called univeriate tabulation. it will not be possible to reduce a large number of heterogeneous responses into meaningful categories with the result that the analysis of data would be weak and ineffective and without proper focus. Sample Area: The study id conducted within the area of West Delhi and therefore the conclusion derived will to the opinion of the residents.Coding: Coding is necessary to carryout the subsequent operations of tabulating and analyzing data. LIMITATION OF THE STUDY: The existing customers did not have enough time to spare for the survey. it is called bivariate or multivariate tabulation. ANALYSIS AND INTERPRETATION: Date Analysis and interpretation: Table 1: Age group respondents 40 .
Table 2: Occupation of the respondents Working sector Govt. 31% of respondents availing HDFCSL belong to below 25 age group and 25% are between 35 to 45age group. IT Education Finance Business No. of respondent 32 16 6 13 29 Percentage 32% 16% 6% 13% 29% 41 .Age Group Below 25 25 to 35 35 to 45 45 and above Total No. of respondent 31 39 25 5 100 Percentage 31% 39% 25% 5% 100% Sources: primary data collected through questionnaire Fig-1 Inference: The above graph shows 39% of respondents having insurance belong to 25 to 35 age respondents group.
of respondent 33 14 53 100 Percentage 33% 14% 53% 100% Sources: primary data collected through questionnaire Fig-3 Inference: This graph shows that only 33% of people are aware of the investment option and 53% of people have some knowledge about it.Other Total 4 100 4% 100% Sources: primary data collected through questionnaire Fig-2 Inference: The above figure reveals that most of the people 32% are working in government and 29%are Business sector Table3: Respondents awareness of investment option Awareness Yes No Have some knowledge Total No. But 14% of people are not aware of the investment option available to them 42 .
of respondents 53 47 100 percentage 53% 47% 100% Sources: primary data collected through questionnaire Fig-4 Inference: This graph shows that 47% of people not having an insurance policy and 53% of people having an insurance policy. Table 5: Respondent interest of investing options Need for investment Retirement Tax saving Earnings Liquidity Total Respondents 28 21 33 18 100 percentage 28% 21% 33% 18% 100% Sources: primary data collected through questionnaire 43 .Table4: Having an any Insurance policy Response Yes No Total No .
Table 6: Type of policy which holding by the Respondents Types of policy Traditional Unit Linked Total No .of respondents 24 76 100 percentage 24% 76% 100% Sources: primary data collected through questionnaire Fig-6 Inference: The above graph shows most of the respondents (76%) have unit linked policy and only 24% respondents have traditional. Table 7: Term of investment preferred Investment Method Short term Medium Term No .of respondents 32 22 44 percentage 32% 22% . This shows people are more interested towards good maturity values.Fig-5 Inference: The figure shows 33% of people have insurance for future earnings and 28% are investing for Retirement.
of respondents 14 12 21 29 24 100 percentage 14% 12% 21% 29% 24% 100% Sources: primary data collected through questionnaire Fig-8 Inference: 45 .Long Term Total 46 100 46% 100% Sources: primary data collected through questionnaire Fig-7 Inference: The above figure shows 46% of respondents prefer long term investment where as 32% prefer medium term and only 22% prefer short term. Table 8: Reason for choosing HDFC Standard Life Insurance Company Motivational factor Brand Image Advertising Value Added Service Policy Features Advisor Total No .
of respondents 29 21 14 36 100 percentage 29% 21% 14% 36% 100% Sources: primary data collected through questionnaire Fig-9 Inference: The above graph shows that 36% of Respondents believes the operations of private companies are professional and 29% believes in Average Table 10: Rating of the services on 1-5 scale Analysis website Reminding letters 46 Rating 3 4 .The above figure shows that 29% of policy features and 24% of influence of advisor made buy the private and 21% it brought it because the added services offered by the company Table 9: Respondent perception towards the HDFC Standard Life Insurance Company Opinion Average Aggressive Excellent professional Total No .
ECS FA Sources: primary data collected through questionnaire According to the table: 2 1 The primary data Financial advisors rating is 1st while Electronic clearing system website. respectively 2nd. of Respondents 73 27 100 Percentage 73% 27% 100% Sources: primary data collected through questionnaire Fig-11 Inference: 47 . and 4th Table 11: Satisfied with Electronic clearing system offered by HDFC Standard Life Insurance: Level Yes No Total No. Reminding letters. 3rd.
Respondents for clarify any query to whom you consult first services Adviser company website customer care branch manager Total No.The above graph shows that 73% of people are satisfied with ECS facility while only 27% are not satisfied Table 12. of Respondents 39 16 28 17 100 Percentage 39% 16% 28% 17% 100% Sources: primary data collected through questionnaire Fig-12 Inference: The above graph shows that 39% people believes in Adviser. 28% of people believes Customer care while company website and branch Manager People clarify any query first respectively 16% and 17% Table-13 Respondent satisfaction of current policy Satisfaction level Yes No No. of Respondents 82 18 48 Percentage 82% 18% .
FINDINGS AND SUGGESTIONS: FINDINGS: It revels that 39% of respondents belongs to 25 to 35 age group 31% are belong to below 25 ages.13 Inference: The above figure shows that 82% of respondents are satisfied with their current policy and only 18% of people are not happy with their policy.Total 100 100% Sources: primary data collected through questionnaire Fig. 49 .
and also the insurance cover. 21% for value added services. sector Out of 100respondents 33% of the respondents well known about HDFCSL investment option 53% of the people having a insurance policy 33% of respondents are indented to invest on their earning only. 50 . and 21% of has told that it is being aggressive and 14% are Excellent Financial Advisors got 1st rank and Electronic clearing system having 2nd rank. Another important point is they have good compensation package. 76% of respondents holding unit linked policy in HDFCSL 46% of respondents are preferred long term investment term in HDFCSL. 29% of the respondents perception about HDFCSL IS Average. Better promotion of unit linked plans can generate more sales to the company. because unit linked plans are directly related to the market. The pressure on the sales team would be lessoned by increasing the awareness among the people about the credibility of the companies and need for capitalizing on the various insurance plans offered by the private life insurance companies. The survey that maximum 32% of the respondents are in working govt. So the company should bring more innovative and should carry out more promotional activities in government fields. HDFC STANDARD LIFE INSURANCE COMPANY’s unit linked insurance plans can effectively meet the requirements of the customers. so the customers can creates more wealth through fund and he can enjoy the tax benefit. 73% of respondents are satisfied with electronic clearing system 39% of the respondents using Advisor service which the service offered by the HDFCSL 82% of respondents are satisfied with current policy offered by HDFCSL SUGGESTIONS: In West Delhi most of the people working in Government and Business sector and they don‟t have much financial planning. Out of 100 respondents 29% of respondents choosing HDFCSL insurance for policy feature and 24% are for Advisor.
Coming with new promotional activities like giving new advertisements. keeping stalls. As the awareness of insurance is less among the people. conducting seminars in companies. and giving ads through SMS can be done by HDFC Standard Life insurance Co. its awareness should be creating among the people by conducting stage shows and explaining its need and importance. Insurance should not be considered only as a risk cover element but also as a long term investment It is also recommended to concentrate to on lower income group people. 51 . Follow up should be taken and customer relation should be maintained by the inviting the existing customers to the seminars conducted when launching a new product or any changes are made to the products or rules to retain them. CONCLUSION: A study on customer perception on value added services offered by HDFC Standard Life Insurance Ltd Company in Anand has been carefully analysed interpreted with the help of analysis tools. to create awareness among customers. More efforts should be taken by the company’s financial consultants to convert the leads into policy holder of HDFCSL.
which is little bit different and better than its competitor.com List of Books & Magazines: Marketing Management.irda. Therefore.the Layman’s Guide to Insurance Business line IRDA Journal 52 .Philip kotler Outlook. through it is growing faster it has to work on certain things and maintain the standard.ICFAI publication Marketing Management. The customer should feel that whatever company is giving is something great.hdfcsl. BIBLIOGRAPHY: REFERENCES: List of websites: www.` HDFC Standard Life Insurance was grown a lot through its aggressive marketing strategies and the growth rate as tremendous. the best the company can do is giving the customer something. the extra feature given to satisfying is some thing great. which is given to the customer. and no one could ever imagine about it. This can be done through introducing more innovative products and recruiting good quality advisors because they are the pillars of the company and it is the most valuable value added services that the company is having.com www. This feeling makes the customer feel that company is very much satisfying them. The company should also be successful in expressing the extra features. In addition.
As a part of my study I am collecting information of the existing customers to know the consumers perception on value added services provided by HDFC std. Please [√] the answer (1) What is your name? (2) Which age group do you belong to? [ ] less than 25years. [ ] 25 to 35 tears. [ ] 35 to 45 years [ ] above 45years (3) Which sector are you working in? [ ] Education [ ] Finance [ ] Government [ ] IT [ ] others (4) Are you aware of the all the Investment option [ ] Yes [ ] No [ ] Have some knowledge 53 . BBA student of BVIMR New Delhi currently doing my project in HDFC Standard Life Insurance Company. life insurance Company I kindly request you to fill the following questionnaires.List of News Papers: Business Line Economics Times QUESTIONNARE: I am NAVRATAN SHARMA.
(5) Do have any insurance policy? [ ] Yes [ ] No (6) Why do you want to invest in to insurance? [ ] Retirement [ ] Tax saving [ ] Earnings [ ] Liquidity (7) What type of policy do you have? [ ] Traditional [ ] Unit linked (8) Which term of investment preferred? [ ] Short term [ ] Medium term [ ] Long term (9) What made you to invest in HDFC Standard Life Insurance? [ ] Brand image [ ] Advertising [ ] value added services [ ] policy feature [ ] Advisor (10) What is your opinion towards the services provided by HDFC Standard Life Insurance? [ ] Average [ ] Aggressive [ ] Excellent [ ] professional (11) Which service among the following you rate in ascending order (1 to 4)? [ ] Website [ ] Reminding letters [ ] ECS [ ] FC (12) Are you satisfied with ECS offered by HDFC Standard Life Insurance? [ ] Yes [ ] No 54 .
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