INTRODUCTION Introduction of Life Insurance

Life insurance is designed to protect life and to product family against financial uncertainties that may result due to unfortunate demise or illness. It can also view as a comprehensive financial instrument, as a part of the financial planning offering savings & investment facilities along with cover against financial loss. By choosing the right policy as per the needs. i.e. customized solutions, you will be able to plan for a secure future for yourself and your loved ones. We all have different financial needs and objectives. But life insurance plays a fundamental role in most of our plans for financial security. That's because of the variety of life insurance plans available and the many ways they can be customized to meet unique needs at different periods of your life.

Statement of the problem

Insurance sector is a booming sector and the penetration in India is quiet low. So, all the private players are trying to increase the market share in the public. This study also involves creating awareness among the urban and rural consumer about the insurance sector and also the various policies involving various premium rates. Since the penetration of private companies and policies is low among the consumer, it is necessary to create awareness about life insurance policies and to know the satisfaction level among consumer. Hence the present studies entitled awareness about it among the consumer. 1.1

Objectives of the Study

To create an awareness about insurance company and policies. To identify the potential policy holders among end users and to create a relationship between the companies and potential customers. To find out the customer satisfaction level among the go with their respecting insurance companies in which they hold the polices.

To find out the awareness of people about insurance policies.

To offer suggestions based on findings.

Insurance Industry
The business of insurance started with marine business. Traders, who used to gather in the Lloyds coffee house in London, agreed to share the losses to their goods while being carried by ships. 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 first insurance policy was issued in 1583 in England. In India, insurance began in 1870 with life insurance being transacted by an English company, the European and the Albert. The first Indian insurance company was the Bombay Mutual Assurance Society Ltd, formed in 1870. This was followed by the Oriental Life Assurance Co. in 1874, the Bharat in 1896 and the Empire of India in 1897. Later, the Hindustan Cooperative was formed in Calcutta, the United India in Madras, the Bombay life in Bombay, the National in Calcutta, the New India in Bombay, the Jupiter in Bombay and the Lakshmi in New Delhi. These were all Indian companies, started as a result of the swadeshi movement in the early 1900s. By the year 1956, when the life insurance was nationalized and the Life Insurance Corporation of India (LIC) was formed on 1st September 1956, there were 170 companies and 75 provident fund societies transacting life insurance business in India. After the amendments to the relevant laws in 1999, the L.I.C. did not have the exclusive privilege of doing life insurance business in India. By 31.3.2002, eleven new insurers had been registered and has begun to transact life insurance business in India.

Need of Insurance
Assets are insured, because they are likely to be destroyed, through accidental occurrences. Such possible occurrences are called perils. Fire, floods, breakdowns, lightning, earthquakes, etc, are perils. If such perils can cause damage to the asset, we say that the asset is exposed to that risk. Perils are the events. Risks are the consequential losses or damages. The risk to an owner of a building, because of the

peril of an earthquake, may be a few lakhs or a few crores of rupees, depending on the cost of the building and the contents in it.

The risk only means that there is a possibility of loss or damage. The damage may or may not happen. Insurance is done against the contingency that it may happen. There has to be an uncertainty about the risk. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In the case of a human being, death is certain, but the time of death is uncertain. In the case of a person who is terminally ill, the time of death is not certain, though not exactly known. He cannot be insured. Insurance does not protect the asset. It does not prevent its loss due to the peril. The peril cannot be avoided through insurance. The peril can sometimes be avoided, through better safety and damage control management. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. It only compensates the losses and that too, not fully. Only economic consequences can be insured. If the loss is not financial, insurance may not be possible. Examples of non-economic losses are love and affection of parents, leadership of managers, sentimental attachments to family heirlooms, innovate and creative abilities, etc.

Types of insurance
Automobile insurance Aviation insurance Boiler insurance Builders risk insurance Casualty insurance Disability insurance Liability insurance Marine cargo insurance Purchase insurance Credit insurance Crime insurance Crop insurance Directors and officers liability insurance 3

 Property insurance Terrorism insurance

Title insurance Travel insurance Workers compensation Life insurance Total permanent disability insurance Locked funds insurance Marine insurance Financial loss insurance Health insurance Professional indemnity insurance Environmental liability insurance Pet insurance Political risk insurance

Profile of HDFC STANDARD LIFE INSURANCE Co.Ltd

HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC Standard Life is one of the leading life insurance companies having a track record of declaring bonuses every year since inception. HDFC as on March 31, 2007 holds 81.9 per cent of equity in the joint venture.

STRENGTHS OF HDFC STANDARD LIFE INSURANCE FINANCIAL EXPERTISE

HDFC Standard Life Insurance has the financial expertise required to manage long-term investments safely and efficiently.

 RANGE OF SOLUTIONS
HDFC Standard Life Insurance has a range of individual and group solutions, which can be easily customized to specific needs. HDFC Standard Life Insurances group solutions have been designed to offer a complete flexibility combined with a low charging structure to people.

TRACK RECORD
HDFC Standard Life Insurances cumulative premium income, including the first year premiums and renewal premiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06. It has covered over 1.6 million individuals out of which over 5, 00,000 lives have been covered through our group business tie-ups.

VISION
The most successful and admired life insurance company, which mean that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. 'The most obvious choice for all'

VALUES:
Values that HDFC Standard Life Insurance observes are Integrity Innovation Customer centric

 People Care One for all and all for one Team work Joy and Simplicity

Major competitors of HDFC STANDARD LIFE

Life Insurance Corporation of India ICICI Prudential Life Insurance Bajaj Allianz Life SBI Life Insurance

PRODUCT PROFILE OF HDFC STANDARD LIFE

HDFC Standard Life Insurance offers various insurance solutions to meet every ones need. HDFC Standard Life Insurance offers various insurance solutions to individuals as well as to companies looking to provide benefits to their employees.

The products that are offered by are mainly classified as follows, Individual Products. Group Products.

INDIVIDUAL PRODUCTS 1. Production plan

(a)Term assurance plan A pure risk cover plan, which gives you protection against the uncertainties of life. The Term Assurance Plan is an insurance policy that is designed to help secure your family's financial needs. (b) Loan cover term assurance plan

An ideal way to cover your home loan or other loan liabilities. This Plan provides a lump sum on the unfortunate death of the life assured within the policy term.

2. Investment plan (a)Single premium whole of life plan

Our Single Premium Whole of Life plan is well suited to meet your long term investment needs. We provide you with attractive long term returns through regular bonuses.

3. Pension plans (a)Personal pension plan

It provides a post retirement income in your golden years and gives you the flexibility to plan your retirement date and Gives you tax benefits on your premiums. The plan receives simple Reversionary Bonuses, which are usually added annually. At the end of the term an additional Terminal Bonus may be paid depending on the performance of the underlying investment.

(b) Unit linked pension

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments and post retirement income for life and also Flexibility to plan your retirement date.

(c)Unit linked pension plus

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Regular Loyalty Units to boost your fund value

every year and post retirement income for life and also Flexibility to plan your retirement date.

4. Savings plan (a)Endowment assurance plan

It's an ideal way to secure your long-term financial goals. Valuable protection to your family by way of lump sum payment in case of your unfortunate demise within policy term and Lump sum payment on survival up to maturity date

(b) Unit linked Endowment

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Valuable protection to your family in case you are not around and Flexible benefit combinations and payment options and also flexible additional benefit options such as critical illness cover.

(c) Unit linked Endowment plus

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Regular Loyalty Units to boost your fund value every year. Valuable protection to your family in case you are not around and Flexible benefit combinations and payment options and also flexible additional benefit options such as critical illness cover.

(d) Money back plan

A proportion of the basic sum Assured as Cash lump sums at regular 5-year intervals within the policy term an ideal way to secure your long- term as well as short-term financial goals and a lump sum payment on survival up to maturity date. 8

Valuable protection to your family by way of lump sum payment in case of your unfortunate death within the policy term.

(e) Children's plan

The Children's Plan is designed to secure your child's future by giving your child a guaranteed lump sum, on maturity or in case of your unfortunate demise, early in the policy term. The premiums, paid by you, are invested by the company to give you good long-term returns.

(f) Unit linked young star

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Valuable protection to your child in case you are not around. Flexible benefit combinations and payment options and also flexible additional benefit options such as critical illness.

(g)Unit linked young star plus

It's an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Regular Loyalty Units to boost your fund value every year and Valuable protection to your child in case you are not around and Flexible benefit combinations and payment options and also flexible additional benefit options such as critical illness cover.

GROUP PRODUCTS
(1)GROUP TERM INSURANCE PLAN
The Group Term Insurance (GTI) plan meets this need and serves as an ideal way for companies to reinforce their bond with their employees. The sort of needs, you, as an employer need to cater to could be in form of: Employee benefits Cover for housing or vehicle loans given by you to your employees A GTI cover for future service gratuity liability to be taken along with the Group Unit Linked Plan One year renewable term insurance plan. One master policy issued covering all members of the group.

(2) GROUP VARIABLE TERM INSURANCE

The Group Variable Term Insurance is a tailor made insurance policy for third party institutions. HDFC Standard Life Insurance Company will offer life insurance to customers of one or more of the third partys specific products in order that in the event of their death, there will be a lump sum available. The Group Variable Term Insurance: On death, will pay a lump sum known as a sum assured. The sum assured varies over time in order that the customer receives the cover that they need. Is a group policy. Has no lengthy underwriting procedure.

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 Is simple to administer.

INSURANCE IN INDIA
About 154 Indian insurance companies, 16 non-Indian companies and 75 provident were operating in India at the time of nationalization. Nationalization was accomplished in two stages; initially the management of the companies was taken over by means of an Ordinance, and later, the ownership too by means of a comprehensive bill. The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost. LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its corporate office in the year 1956. Since life insurance contracts are long term contracts and during the currency of the policy it requires a variety of services need was felt in the later years to expand the operations and place a branch office at each district headquarter. re-organization of LIC took place and large numbers of new branch offices were opened. As a result of re-organization servicing functions were transferred to the branches, and branches were made accounting units. It worked wonders with the performance of the corporation. It may be seen that from about 200.00 crores of New Business in 1957 the corporation crossed 1000.00 crores only in the year 1969-70, and it took another 10 years for LIC to cross 2000.00 crore mark of new business. But with re-organization happening in the early eighties, by 1985-86 LIC had already crossed 7000.00 crore Sum Assured on new policies Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the Corporate office. LICs Wide Area Network covers 100 divisional offices and connects all the branches through a Metro Area 11

Network. LIC has tied up with some Banks and Service providers to offer on-line premium collection facility in selected cities. LICs ECS and ATM premium payment facility is an addition to customer convenience. Apart from on-line Kiosks and IVRS, Info Centres have been commissioned at Mumbai, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi, Pune and many other cities.

With a vision of providing easy access to its policyholders, LIC has launched its SATELLITE SAMPARK offices. The satellite offices are smaller, leaner and closer to the customer. The digitalized records of the satellite offices will facilitate anywhere servicing and many other conveniences in the future. LIC continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a new growth trajectory surpassing its own past records. LIC has issued over one crore policies during the current year. It has crossed the milestone of issuing 1,01,32,955 new policies by 15th Oct, 2005, posting a healthy growth rate of 16.67% over the corresponding period of the previous year.

Insurance business in India are 1818: Oriental Life Insurance Company, the first life insurance company on Indian
soil started functioning.

1870: Bombay Mutual Life Assurance Society, the first Indian life insurance
company started its business.

1912: The Indian Life Assurance Companies Act enacted 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 businesses.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies are taken over by the
central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. 12

How Insurance Works

The mechanism of insurance is very simple. People who are exposed to the same risks come together and agree that, if any one of them suffers loss, the others will share the loss and make good to the person who lost. All people who send goods by ship are exposed to same risks, which are related to water damage, ship sinking, piracy, etc. Those owning factories are not exposed to these risks, but they are exposed to different kinds of risks like, firer, hailstorms, earthquakes, lightning, burglary, etc. Like this, different kinds of risks can be identified and separate groups made, including those exposed to such risks. By this method, the heavy loss that any one of them may suffer is divided into bearable small losses by all. In other words, the risk is spread among the community and the likely big impact on one is reduced smaller manageable impacts on all.

Insurance as a Security Tool

The United Nations Declaration of Human Rights 1948 provides that Everyone has a right to standard of living adequate for the health and well being of himself and his family, including food, clothing, and housing and medical care and necessary social service and the right to security in the event of unemployment, sickness, disability. Life insurance provides such an alternate arrangement. If this did not happen, another family will be pushed into the lower strata of society. The lower strata create a cost on society. Life insurance tends to reduce such a cost. In this sense, the life insurance business is complimentary to the states efforts in the social management. In a capitalist society provision of security is largely left to the individual. Insurance is one of them to provide social security by state under some schemes.

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Role of Insurance in Economic Development

For economic development investments are necessary. Investments are made out of savings. A life insurance is a major instrument for the mobilization of savings, particularly from the middle and lower income groups. This savings are channeled into investments for economic growth.

Major Market Players in India

Presently there are 15 Life insurance companies in the country. There is only one public sector company LIC and the rest 14 are private sector. Although LIC has been dominating the Life Insurance business since past few years the private players have now started to build up momentum.

HDFC Standard Life

HDFC Standard is a 74:26 joint venture between HDFC and Standard Life. It is a private sector company. The market share for FY 2005-06 was 2.87%.

Birla Sun Life Insurance Company

Birla Sun Life Insurance Company is a 74:26 joint venture between Birla group and Sun Life Financial. It is a private sector company. The market share for FY 2005-06 was 1.89%.

ICICI Prudential Life Insurance

ICICI Prudential Life is a 74:26 joint venture between ICICI and Prudential. It is a private sector company. The market share for FY 2005-06 was 7.35%.

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Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India is a 100% government held Public Sector Company. Being the first to be established LIC is the forerunner in the Life Insurance sector. The market share for FY 2005-06 was 71.44%.

Kotak Mahindra OLD Mutual

Kotak Mahindra OLD Mutual is a 74:26 joint venture between Kotak Mahindra bank and Old Mutual. It is a private sector company. The market share for FY 2005-06 was 1.11%.

Max New York Life

Max New York Life is a 74:26 joint venture between J & Bank, Pallonji & Co and MetLife. It is a private sector company. The market share for FY 2005-06 was 1.23%.

Aviva Life Insurance India

Aviva Life insurance is a 74:26 joint venture between Aviva and Dabur. It is a private sector company. The market share for FY 2005-06 was 1.14%.

ING Vysya Life insurance

ING Vysya Life Insurance is joint venture between Exide (50%), Gujarat Cements (14.87%), Enam (9.13%) and ING (26 %). It is a private sector company. The market share for FY 2005-06 is 0.79%.

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MetLife India
MetLife India is a 74:26 joint venture between J & K Bank, Pallonji & Co and MetLife. It is a private sector company. The market share for FY 2005-06 was 0.40%.

Bajaj Allianz Life Insurance Co

Bajaj Allianz Life Insurance Company is a 74:26 joint venture between Bajaj Auto limited and Allianz AIG. The market share for FY 2005-06 was 7.56%.

SBI Life Insurance Company Ltd

SBI Life Insurance Company is a 74:26 joint venture between SBI and Cardiff S.A. It is a private sector company. The market share for FY 2005-06 was 2.31%.

TATA AIG Group

TATA AIG group is a 74:26 joint venture between Tata Group and AIG. It belongs to the private sector. The market share for FY 2005-06 was 1.29%.

Sahara India Life Insurance Company Ltd

First Wholly Indian Owned Private Life Insurance Company. The market share for FY 2005-06 was 0.06 %.

Shriram Life Insurance Company Ltd

Shriram Life is a recent entrant into the life insurance sector It is a 74:26 joint venture between the Shriram group through its Shriram Financial Holdings and Sanlam Life Insurance Limited, South Africa.

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MARKET SHARE OF PUBLIC AND PRIVATE SECTOR COMPANIES

MARKET SHARE OF PRIVATE SECTOR INSURANCE COMPANIES

17

(IRDA)INSURANCE REGULATORY DEVELOPMENT AUTHORITY

On the recommendation of Malhotra Committee, an Insurance Regulatory Development Act (IRDA) passed by Indian Parliament in 1993. Its main aim was to activate an insurance regulatory apparatus essential for proper monitoring and control of the Insurance industry. Due to this Act several Indian private companies have entered into the insurance market, and some companies have joined with foreign partners. In economic reform process, the Insurance Companies has given boost to the socio-economic development process. The huge amount of funds that are at the disposal of Insurance Companies are directed as desired avenues like housing, safe drinking water, electricity, primary education and infrastructure. Above all the policyholders gets better pricing of products from competitive insurance companies.

Liberalization
The opening up of Insurance sector was a part of the ongoing liberalization in the financial sector of India. The domain of State-run insurance companies was thrown 18

open to private enterprise on December 7, 1999, with the introduction of the Insurance Regulatory and Development Authority (IRDA) Bill. The opening up of the sector gave way to the world known names in the industry to enter the Indian market through tie-ups with the eminent business houses. What was once a quiet business is becoming one of the hottest businesses today.

Post liberalization
The changing face of financial sector and the entry of several companies in the field of Life Insurance segment are one of the key results of these liberalization efforts. Insurance business by way of generating premium income adds significantly to the GDP. Despite the fact that the market is vast in India for the Insurance business, the coverage is far less compared with the international standards. Estimates show that a meager 35-40 million, out of a population of 950 million, have come so far under the umbrella of the insurance industry. The potential market is so huge that it can grow by 15 to 17 per cent per annum. With the entry of private players, the Indian Insurance Market may finally be able to make deeper penetration in to newer segments and expand the market size manifold. The quality of service will also improve and there will be wide The Life insurance market in India is likely to be risky in the initial stages, but this will improve in the next three to five years Therefore, it may be advantageous to be a second-round entrant. In the Life insurance market the need risk assessment systems and data that are the key to success in the Life insurance market are significantly underdeveloped in India even today. 19

CHAPTER-IV ANALYSIS AND INTERPRETATION

The primary data collected through the questionnaire from government officials were complied using spss package and the analysis are presented below.

TABLE 4.1 RESPONDENTS PROFILE OF AGE Frequency/ Percentage

4 25 66 5

Age(In Years)
25-35 35-45 45-55 >55

Total
(Source: Primary Data)

100

20

Table 4.1 shows, among the 100 sample respondents, the majority of 66% of the respondents fall in the age group of 45-55 years. Another 25% fall in the category of 35-45 years. There are 5% of the respondents who fall in the age group of above 55 years, while the remaining 4% are in the age group of 25-35 years. Thus, from the analysis it can be concluded that the majority (66%) of respondents fall in the age group of 45-55.

TABLE 4.2 GENDER PROFILE OF RESPONDENT Gender

Male Female

Frequency/ Percentage
73 27

Total (Source: Primary Data)

100

Table 4.2 shows, the 100 sample respondents, the majority of 73% of the respondents are Male, while the remaining 27% are female. Thus, from the analysis it can be concluded that the male respondents constituted the major position (73%)

TABLE 4.3 MARITAL STATUS OF RESPONDENTS

21

Marital Status
Married Unmarried

Frequency/ Percentage
99 1

Total (Source: Primary Data)

100

Table 4.5 shows, among the 100 sample respondents, the majority (99%) of the respondents are married while the remaining 1% is unmarried among the respondents. Thus, from the analysis it can be concluded that the majority (99%) of respondents who are married.

TABLE 4.4 EXPERIENCE PROFILE OF RESPONDENTS

Experience of respondent
Less Than 10 10-20 20-30 >30

Frequency/ percentage
11 27 57 5

Total (Source: Primary Data)

100

As it could be seen in Table 4.4, among the 100 sample respondents, the highest of 57% of the respondents fall in the experience group of 20-30 years. Another 27% fall in the category of 10-20 years. There are 11% of the respondents who fall in the experience group of less then 10 years, while the remaining 5% are in the experience group of above 30 years. Thus, majority (57%) of respondents are in the experience group of 20-30.

22

TABLE 4.5 ANNUAL INCOME LEVEL OF RESPONDENTS

Frequency/ Annual income

Less Than 180000 180000-300000 300000-420000 >420000

percentage
27 50 14 9

Total (Source: Primary Data)

100

Table 4.5 shows, out of 100 sample respondents, the majority 50% of the respondents earn annual income between 180000-300000.Another 27% of respondents are less than 180000. There are 14% of the respondents who earn between 300000-420000, the remaining 9% among the respondents earn above 420000. Thus, from the analysis it can be concluded that the respondents who earn between 180000-300000 constituted the major position (50%).

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TABLE 4.6 AWARENESS ABOUT LIFE INSURANCE POLICIES

Awareness
Yes No

Frequency/ percentage
100 0

Total (Source: Primary Data)

100

As it could be seen in table 4.6 among the 100 sample respondent all of them were aware of the life insurance policies, (i.e.) 100%. Thus from the analysis it can be concluded that 100% of respondents are aware of the life insurance policies.

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TABLE 4.7 SOURCE OF INFORMATION

SOURCE
Agent Employer Press Relatives T.v Internet Bankers Brokers Friends Mobile

YES
85 15 24 10 37 10 21 4 23 3

NO
15 85 76 90 63 90 79 96 77 97

(Source: Primary Data)

As it could be seen in table 4.7, among the 100 sample respondent, it is clear that most of the respondents came to know about the insurance through agents (85%) and the second highest source are the T.V (37%). None of the respondents have come to

25

know about the insurance through mobile. Thus, from the analysis it can be concluded that 85% of the respondents came to know about insurance polices through agents.

FIGURE 4.1
CHART SHOWING SOURCE OF INFORMATION

1 00

Rows
YES NO

75

respondent

50

25

0 A GE NT Cou n t REL A TIV ES Cou nt B ANKERS Coun t M OB ILE Co unt E MP LOY ER Co u nt T V Cou n t B RO KE RS Cou nt P RE SS Cou n t INT E RNE T Coun t FRIE NDS Co un t

source

26

TABLE 4.8 AWARENESS ABOUT THE INSURANCE COMPANY Company name

LIC Birla HDFC Bajaj ICICI SBI Sriram Kotak Aviva Reliance Tata AIG Metlife Max Newyork Sahara Barathi ING Vysya

Yes
100 26 75 27 55 55 18 6 3 12 19 0 5 3 0 16

No
0 74 25 73 45 45 82 94 97 88 81 100 95 97 100 84

27

(Source: Primary Data)

As it could be seen in table 4.8 among the 100 sample respondent, it is clear that 100% of the respondents are aware of LIC. And among the private players HDFC has ranked first (75%) and followed by ICICI (55%), BAJAJ (27%), BIRLA (26%). None of the respondent has come to know about Metlife and Max Barathi AXA life insurance. Thus most of the respondents are aware of LIC and in the private sector HDFC Standard Life insurance.

FIGURE 4.2 AWARENESS OF INSURANCE COMPANY

O THER

Rows
YES NO

SHRIRA M L IFE

S BI L IFE

compan ies

ICICI PRUDENT IAL

B AJA J ALL IA NZ

HDFC S T ANDARD L IFE

BIRL A S UNL IFE

L IC 0 25 50 75 1 00

respondent

TABLE 4.9 PURPOSE OF TAKING POLICIES

Purpose
tax saving 28

Yes
57

No
43

investment life risk regular returns health maintenance retirement benefits Others (Source: Primary Data)

38 46 22 19 6 1

62 54 78 81 94 99

As it could be seen in table 4.9 among the 100 sample respondents, 57% have opted Tax saving as the major purpose of taking life insurance policies and Life risk coverage, Investment are also the purpose of taking life insurance policies. Thus from the analysis it can be concluded that most of the respondents are preferred to take policies for the purpose of Tax Savings.

FIGURE 4.3 PURPOSE OF TAKING POLICIES

O THERS Co u nt

Rows
YES NO

RET IRE ME NT B ENE FIT S Co un t

PURPOSE

HEA L TH MA INT ANA NCE Co un t

REG UL A R RET URNS Co un t

L IFE RIS K COV E RA GE Cou n t

INV E ST ME NT Cou n t

T AX SA V ING Co un t

25

50

75

1 00

RESPONDENT

29

TABLE 4.10 AWARENESS OF THE POLICIES

Policies Name
Endowment Whole life Money back With profit Joint life Children's Convertible Without profit Variable Insurance Annuity policy Handicapped policy Retirement policy Salary saving scheme ULIP (Source: Primary Data)

Yes
83 41 84 24 30 41 2 2 0 7 2 24 36 18

No
17 59 16 76 70 59 98 98 100 93 98 76 66 82

30

Table 4.10, shows among the 100 sample respondents, 84% of the respondent are preferred money back policy and 83% of respondent are preferred endowment policies. None of the respondents are preferred to Variable insurance, without profit policy and handicapped policy. Thus from the analysis it can be concluded that most of the respondents are preferred to take money back and endowment policies.

FIGURE 4.4
AWARENESS OF THE POLICIES

OTHERS Coun t

Rows
YES NO

CHIL DRE N'S PO LICY Co un t

JOINT L IFE PO L ICY Co u nt

POLICIES

WIT H P ROFIT P OL ICY Cou n t

M ONEY BA CK P OL ICY Co u n t

WHO LE L IFE P OLICY Co unt

E NDOWME NT P OL ICY Cou nt

25

50

75

RESPONDENT

TABLE 4.11 RANKING FOR POLICIES POLICIES

Endowment RANK RANK RANK RANK RANK RANK RANK 1 21 2 27 3 20 4 11 5 15 6 3 7 3

31

Whole life Money back With profit Joint life Children's

8 46 5 4 5

15 15 8 9 13 13

8 10 1 12 27 21

8 12 16 18 17 21

34 7 13 21 7 3

22 9 36 17 11 1

5 1 21 19 20 29

Others 12 (Source: Primary Data)

As it could be seen in table 4.11 among the 100 sample respondents, the respondents preferred Money Back policy as rank 1 (46%) and Endowment policy has been ranked as 2 (27%) and Children's policy has ranked as 3 (27%). Thus from the analysis it can be concluded that most of the respondents are ranked money back policy as first.

FIGURE 4.5
RANKING FOR POLICIES

O THERS Coun t

Rows
RANK1 RANK2 RANK3 RANK4 RANK5 RANK6 RANK7

CHIL DRE N'S POLICY Coun t

JOINT L IFE POL ICY Co u nt

POLICIES

WIT H P ROFIT P OL ICY Cou n t

M ONEY BA CK POL ICY Co u n t

WHO LE L IFE PO LICY Co un t

E NDOWME NT P OL ICY Cou n t

10

20

30

40

RESPONDENT

32

TABLE 4.12 PREFERRED PREMIUM PERIOD Period

Annual Half yearly Quarterly Monthly Total (Source: Primary Data)

Frequency/ Percentage
21 16 15 48 100

Table 4.12 shows, among the 100 sample respondents, 48% of the respondents preferred monthly premium payment period and 21% of the respondents preferred annual premium payment period. Thus from the analysis it can be concluded that 48% of the respondents preferred monthly premium payment period.

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FIGURE 4.6 PREFERRED PREMIUM PERIOD

50

40

30

48

T A D N O P S E R

20

10

21 16 15

0 ANNUAL HALFYEARLY QUARTERLY MONTHLY

PREMIUM PAYMENT PERIOD

34

TABLE 4.13 PREFERRED PREMIUM PAYMENT Mode

Salary deduction Through agent By cash By cheque Online payment

Frequency/ Percentage
58 11 7 18 6

Total (Source: Primary Data)

100

Table 4.13 shows, 4.7 among the 100 sample respondents, 58% of the respondents preferred Salary Deduction as mode of payment and 18% of the respondents preferred cheque as the mode payment. Thus from the analysis it can be concluded that 58% of the respondents preferred Salary Deduction as mode of payment.

35

FIGURE 4.7 PREFERRED PREMIUM PAYMENT

60

50

40

30

58

T A D N O P S E R
20 10
11 7 6

18

0 SALARY DEDUCTION THROUGH AGENT BY CASH BY CHEQUE ONLINE PAYMENT

MODE OF PAYMENT

36

TABLE 4.14
PREFERRED DELIVERY OF POLICY DOCUMENTS

Policy Documents Online By post Through agent Personally at insurance company's Total (Source: Primary Data)

Frequency/ Percentage 3 22 43 32 100

Table 4.14 shows, among the 100 sample respondents, 43% of the respondents preferred to get the documents through agent and 32% of the respondents preferred to get the documents from the insurance office itself. Thus, from the analysis it can be concluded that 43% of the respondents preferred to get the documents through agent.

37

FIGURE 4.8 PREFERRED DELIVERY OF POLICY DOCUMENTS

50

40

30

T A D N O P S E R

43

20
32

10

22

0 ONLINE BY POST THROUGH AGENT PERSONALLY AT INSURANCE COMAPNY'S OFFICE

MODE OF DELIVERY

38

TABLE 4.15 PREFERRED MODE OF SETTELEMENT

Mode
By cash By cheque On account transfer

Frequency/ Percentage
19 75 6

Total
(Source: Primary Data)

100

Table 4.15 shows, among the 100 sample respondents, 75% of the respondents preferred to get the claims settlement through by cheque and 19% of the respondents preferred to get the claims settlement through cash. Thus from the analysis it can be concluded that 75% of the respondents preferred to get the claim settlement through cheque.

39

FIGURE 4.9 THE PREFERRED MODE OF SETTELEMENT

80

60

40
75

T A D N O P S E R
20

19 6

0 BY CASH BY CHEQUE ON ACCOUNT TRANSFER

MODE OF SETTLEMENT

40

TABLE 4.16
RANKING THE DETAILS EXPECTED FROM AGENT

DETAILS
Features of policy Premium amount Period of premium Mode of payment Terms & condition Other benefits Other services Settlements

R1
21 24 21 9 21 1 1 3

R2
13 30 27 7 20 0 0 4

R3
24 14 18 18 17 2 0 7

R4
17 16 12 17 13 11 0 15

R5
16 8 11 23 13 15 9 6

R6
5 2 3 17 9 28 23 12

R7
3 2 6 5 4 32 40 6

R8
1 4 2 4 3 11 27 47

(Source: Primary Data) Table 4.16 shows, among the 100 sample respondents, the respondents are expecting the details about premium amount because it has been ranked as 1 (24%) and period of premium has been ranked as 2 (27%) and features of policy has ranked as 3 (24%). Thus from the analysis it can be concluded that most of the respondents ranked premium amount as first detail followed by period of premium and feature of policy.

41

FIGURE 4.10
RANKING FOR EXPECTING DETAILS FROM AGENT

S ET TL E ME NT O F CLA IMS AND IT S CO NDITIO NS Co u nt

Rows
R AN K1 R AN K2 R AN K3 R AN K4 R AN K5 R AN K6 R AN K7 R AN K8

O THER S ERVICES Cou n t

O THER B ENEFIT S Cou n t

DETAILS

T ERMS AND CO NDITIO NS Cou n t

M ODE O F P AY M ENT O F P REM IUM Co u nt

P EROID OF PA Y ME NT Cou n t

P RE MIUM A MO UNT Co u nt

FEA T URES OF T HE PO L ICY Co un t 1 0.0 0 2 0.0 0 3 0.0 0 4 0.0 0

RESPONDENT

TABLE 4.17
PREFERRED INSURANCE COMPANY

Sector
Public sector Private sector

Frequency
75 25

Total (Source: Primary Data)

100

Table 4.17 shows, among the 100 sample respondent 75% of respondents are preferred public sector and 25% of the respondents are preferred private sector. Thus from the analysis it can be concluded that 75% of respondents are preferred public sector.

42

FIGURE 4.11 PREFERRED INSURANCE COMPANY

PREFERRED SECTOR IN INSURANCE COMPANY PUBLIC SECTOR PRIVATE SECTOR

25

75

43

TABLE 4.18
RANKING FOR SELECTING AN AGENT

Details
Knowledge of policy Investment advice Convincing approach Premium details Handling documents Nominee details Claim settlement (Source: Primary Data)

R1
41 21 13 21 0 2 1

R2
24 20 29 17 5 0 6

R3
9 33 19 16 6 5 12

R4
22 16 13 27 7 5 10

R5
2 3 12 11 41 19 12

R6
1 4 6 8 22 46 13

R7
1 2 8 0 19 23 46

As it could be seen in table 4.18 among the 100 sample respondents, the respondents are selecting the agent first to know about the knowledge of the policy because it has been ranked as 1 (41%) and convincing has been ranked as 2 (29%) and investment advice has ranked as 3 (33%). Thus from the analysis it can be concluded that most of the respondents are selecting the agent's by knowledge of policy followed by convincing approach and investment advice.

44

FIGURE 4.12 RANKING FOR SELECTING AN AGENT

CLAIM S ET T LE MENT S ERV ICE S Cou n t

Rows
RANK1 RANK2 RANK3 RANK4 RANK5 RANK6 RANK7

CHA NG E OF NO MINEE SERVICES Cou n t

HANDL ING O VER O F P O LICY DOCUME NT Co u nt

DETAILS

P AY ME NT O F P RE M IUM Co un t

CONVINCING A P PROA CH Cou n t

INV E ST ME NT A DV ICE S FO R S E LE CT ING APP RO P RIA TE PO L ICIES Cou n t

K NO WL E DG E A BOUT T HE P OL ICIE S Cou n t 1 0.0 0 2 0.0 0 3 0.0 0 4 0.0 0

RESPONDANT

45

TABLE 4.19 RANKING THE PARAMETERS FOR SELECTING INSURANCE COMPANY

DETAILS Brand name Availability of product & services Attractive advertisement Fulfillment of customer needs Fulfillment of insurance Terms & procedure Sales promotion Premium amount Period of premium Mode of premium Rider clause

R1 17 13 4 30 8 11 1 14 2 0 0

R2 19 18 3 14 10 13 1 13 6 2 0 1

R3 24 18 5 16 11 8 2 11 2 2 0 1

R4 9 16 10 16 12 15 1 8 4 5 1 2

R5 9 12 11 13 12 20 2 14 3 3 0 1

R6 7 7 21 2 20 6 9 10 13 4 0 2

R7 6 5 19 4 8 13 2 16 13 12 0 3

R8 R9 R10 R11 5 3 0 1 5 9 1 8 7 17 3 22 15 4 5 2 6 1 4 3 19 2 16 29 10 3 1 4 2 2 1 12 3 14 21 26 14 2 2 1 3 1 12 2 1 6 46 23

R12 0 1 6 0 2 2 22 4 4 1 13 45

Online service 1 (Source: Primary Data)

As it could be seen in table 4.19 among the 100 sample respondents, the respondents are selecting the insurance company first to fulfillment of customer needs because it has been ranked as 1 (30%) and availability of product and services has been ranked as 2 (18%) and brand name has ranked as 3 (24%). Most of the respondents are selecting the insurance company first to fulfillment of customer needs followed by availability of product and services and brand name.

46

TABLE 4.20 PREFERENCE FOR FUTURE POLICY Particulars

Yes No

No. of Respondents
34 66

Total (Source: Primary Data)

100

Table 4.20 shows, among the 100 sample respondent 66% of respondents are preferred to take policy in future and 34% of the respondents are not preferred to take policies in future. Thus from the analysis it can be concluded that 66% of respondents are preferred to take policy in future.

FIGURE 4.13
PREFERENCE FOR FUTURE POLICY

PREFERENCE FOR FUTURE POLICY YES NO

34

66

47

TABLE 4.21 INTENDED TYPE OF POLICY IN FUTURE Type of policy

Endowment policy Joint life policy Whole life policy Children's policy Money back policy ULIP

Respondent
11 8 4 28 13 2

Total
(Source: Primary Data)

66

As it could be seen in chart 4.21 among the 66 sample respondents, 28 respondents are preferred to take Children's policy and 13 respondents are preferred to take Money Back policy. Thus from the analysis it can be concluded that 28 respondents preferred to take Children's policy.

TABLE 4.22

48

PREFERRED INSURANCE COMPANY IN FUTURE Company

LIC HDFC BAJAJ ICICI

Respondent
55 9 1 1

Total
(Source: Primary Data)

66

Table 4.22 shows, among the 66 sample respondents, 55 respondents are preferred to take LIC as there company and 9 respondents are preferred to take HDFC as there company. Thus from the analysis it can be concluded that 55 of the respondents preferred to take LIC as there company and among the private company HDFC as their company.

TABLE 4.23

49

HOLDING OF INSURANCE POLICY Particulars

Yes No

Holding Policies
98 2

Total
(Source: Primary Data)

100

As it could be seen in Table 4.23 among the 100 sample respondent 98% of respondents are currently having policies and 2% of the respondents are not having policies. Thus from the analysis it can be concluded that 98% of respondents are currently having policies.

FIGURE 4.14
HOLDING OF INSURANCE POLICY

CURRENT POLICY YES NO

98

TABLE 4.24 CURRENT INSURANCE COMPANY

50

Current company
LIC LIC AND HDFC LIC AND ICICI HDFC OTHERS

Respondent
64 27 4 1 2

Total
(Source: Primary Data)

98

Table 4.24 among the 98 sample respondents, 64 respondents is having policies in LIC and 27 of respondents are having policies in both LIC and HDFC and 4 respondents are having in HDFC. Thus from the analysis it can be concluded that 64 of the respondents are having policies in LIC and HDFC is in the second place when compared to others private players.

TABLE 4.25 NO. OF POLICIES

51

No. of Policies
1 2 3 4

Respondent
6 45 36 11

Total
(Source: Primary Data)

98

Table 4.25 shows, among the 98 sample respondents, 45 respondents are having two policies and 36 of respondents are having three policies. Thus from the analysis it can be concluded that 45 of the respondents having two policies.

TABLE 4.26 CURRENT TYPE OF POLICY Policies Yes

52

No

Endowment Joint Life Whole Life Children Money Back ULIP (Source: Primary Data)

57 28 14 50 54 24

41 70 84 48 44 74

Table 4.26 shows, among the 98 sample respondents, 57 respondents are having Endowment policies and 54 respondents are having Money Back policies and 50 respondents are having Children's policy. Thus from the analysis it can be concluded that 57 respondents having Endowment policy.

FIGURE 4.15 CURRENT TYPE OF POLICY

Rows
75

YES NO NIL

RESPONDANT

50

25

0 E NDOWMENT P OL ICY Cou n t CHIL DRE N'S PO LICY Co un t JOINT L IFE PO L ICY Co u nt M ONEY BA CK POL ICY Cou n t WHO LE L IFE P O LICY Co un t UNIT LINKED INSURANCE P OL ICY Co u nt

POLICIES

TABLE 4.27 PRESENT PURPOSE OF TAKING POLICIES Purpose

Tax saving Investment

Yes
55 39

No
42 59

53

Life risk Regular returns Health maintain Retirement benefits (Source: Primary Data)

36 30 18 8

62 68 80 89

Tables 4.27 among the 98 sample respondents, 59 respondents are having policies for the purpose of tax savings and 39 respondents are having policies for the purpose of Investment. Thus from the analysis it can be concluded that 59 respondents are having policies for the purpose of tax savings.

FIGURE 4.16 PRESENT PURPOSE OF TAKING POLICIES

Rows
75

YES NO NIL

RESPONDANT

50

25

0 T AX SA V ING Co un t REG UL AR RET URNS Co un t INVE ST ME NT Cou n t HEAL TH MAINT ANA NCE Co un t L IFE RIS K COV E RA GE Cou n t RET IRE ME NT BENE FIT S Co unt

PURPOSE

TABLE 4.28 CURRENT PREMIUM PAYMENT PERIOD

Period
54

Respondent

Annual Half yearly Quarterly Monthly One time

13 13 20 51 1

Total (Source: Primary Data)

98

Table 4.28 shows, among the 98 sample respondents, 51 respondents are paying monthly premium payment and 30 respondents are paying quarterly premium payment. Thus from the analysis it can be concluded that 51 respondents are paying monthly premium payment.

TABLE 4.29 CURRENT PREMIUM AMOUNT PAID ANNUALLY Amount

< 3000 3000-5000

Respondent
23 34

55

5000-7000 >9000

22 19

Total
(Source: Primary Data)

98

Table 4.29 shows, among the 98 sample respondents, 34 respondent's annual premium payment is in between Rs 3000-5000 and 23 respondent's annual premium payment is below Rs 3000. Thus from the analysis it can be concluded that 34 respondent's annual premium payment is in between Rs 3000-5000.

TABLE 4.30 SATISFACTION LEVEL FOR PRESENT AGENT

Agent Service
Knowledge about policies Investment advices

H.S
42 8

S
50 83

C.S
4 5

D
1 1

H.D Total
1 1 98 98

56

Convincing approach Payment of premium Claim settlement Change of nominee Handling over the documents (Source: Primary Data)

4 9 6 6 4

82 83 37 68 34

10 5 55 21 60

2 1 0 2 0

0 0 0 1 0

98 98 98 98 98

Table 4.30 shows, among the 98 sample respondents, the respondents are satisfied with agent services like Knowledge about the policies, Investment Advices, Convincing Approach, Payment of Premium and Change of Nominee but the respondents are not aware of their own Claim settlement and Handling over the Documents, so its comes under can't say category. Thus from the analysis it can be concluded that the respondents are satisfied with the current agent services.

TABLE 4.31 SATISFACTION LEVEL SCORES FOR AGENT SERVICE

Satisfaction Level
Highly Dissatisfied Dissatisfied Can't Say

Scores
Exactly 7 8 14 15 21

No. of Respondents
0 0 1

57

Satisfied Highly Satisfied (Source: Primary Data)

22 28 29 35

86 11

Table 4.31 clearly shows that 86 respondents are got scores in between 22 28, thus, the respondents are satisfied with the agent service.

TABLE 4.32 SATISFACTION LEVEL FOR INSURANCE COMPANY

Insurance company
Brand name Product & service Customer needs Attractive advertisement Terms & procedures

H.S
34 17 9 6 9

S
56 80 81 81 80

C.S
6 1 5 8 8

D
1 0 2 3 1

H.D Total
1 0 1 0 0 98 98 98 98 98

58

Sales promotion Premium amount Period of premium payment Mode of payment of premium Availability of rider clause Online service Loans against policies Settlement of claims (Source: Primary Data)

1 17 15 18 4 2 3 3

67 74 79 70 42 31 27 26

30 6 4 10 50 65 67 69

0 1 0 0 2 0 1 0

0 0 0 0 0 0 0 0

98 98 98 98 98 98 98 98

Table 4.32 shows, among the 98 sample respondents, the respondents are satisfied with the company services like Brand name, Availability of Product and Services, Fulfillment of Customer needs, Attractive advertisement, Terms and Procedures, Sales Promotion measures, Premium amount, Period of premium payment, Mode of payment of premium but the respondents are not aware of Claim settlement, Loans against policies, Online services and Availability of rider clause, so its comes under can't say category. Thus from the analysis it can be concluded that the respondents are satisfied with the current company services.

TABLE 4.33 SATISFACTION LEVEL SCORES FOR INSURANCE COMPANY

Satisfaction Level
Highly Dissatisfied Dissatisfied Can't Say Satisfied Highly Satisfied (Source: Primary Data)

Scores
Exactly 13 14 26 27 39 40 52 53 65

No. of Respondents
0 0 0 87 11

59

Table 4.33 clearly shows that 87 respondents are got scores in between 40 52, Thus, the respondents are satisfied with the insurance company.

CHAPTER V FINDINGS, SUGGESTION&CONCLUSION

5.1 GENERAL FINDINGS

HDFC Standard Life Insurance Co. Ltd. has increased its share capital by Rs 50 Crores. The two partners in the joint venture, HDFC Ltd. and Standard Life Assurance Company, U.K. have brought in the additional capital and the share capital of the company now stands at Rs 218 Crores. 60

 HDFC Standard Life Insurances cumulative premium income, including the first year premiums and renewal premiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06. It has covered over 1.6 million individuals out of which over lives have been covered through our group business tie-ups. It was necessitated on account of the strong growth shown by the company in the current financial year in its life insurance and pension business. 5, 00,000

5.2 SPECIFIC FINDINGS

Majority (66%) of respondents fall in the age group of 45-55. The male respondents constituted the major position (73%). Majority (99%) of respondents who are married. Majority (57%) of respondents are in the experience group of 20-30. The respondents who earn between 180000-300000 constituted the major position (50%). 100% of respondents are aware of the life insurance policies. 85% of the respondents came to know about insurance polices through agents. Most of the respondents are aware of LIC and in the private sector HDFC Standard Life insurance. Most of the respondents are preferred to take policies for the purpose of Tax Savings.

Most of the respondents are preferred to take money back and endowment
policies.

Most of the respondents are ranked money back policy as first.

48% of the respondents preferred monthly premium payment period. 58% of the respondents preferred Salary Deduction as mode of payment. 43% of the respondents preferred to get the documents through agent. 75% of the respondents preferred to get the claim settlement through cheque.

61

 Most of the respondents ranked premium amount as first detail followed by

period of premium and feature of policy. 75% of respondents are preferred public sector. Most of the respondents are selecting the agent's by knowledge of Most of the respondents are selecting the insurance company first to policy followed by convincing approach and investment advice. fulfillment of customer needs followed by availability of product and services and brand name. 66% of respondents are preferred to take policy in future. 28 respondents preferred to take Children's policy. 55 of the respondents preferred to take LIC as there company and 98% of respondents are currently having policies. 64 of the respondents are having policies in LIC and HDFC is in the 45 of the respondents having two policies. 57 respondents having Endowment policy. 59 respondents are having policies for the purpose of tax savings. among the private company HDFC as their company.

second place when compared to others private players.

51 respondents are paying monthly premium payment. 34 respondent's annual premium payment is in between Rs 3000-5000. The respondents are satisfied with the current agent services.

86 respondents are got scores in between 22 28, so the respondents

are satisfied with the agent service. The respondents are satisfied with the current company services. 87 respondents are got scores in between 40 52, so the respondents are satisfied with the insurance company.

62

5.3 SUGGESTIONS
In view of the competition from LIC and other private players in the

market, HDFC Standard Life should organize more awareness campaigns to create awareness and to promote their existing products. More new products and services should be innovated through financial

engineering process to tap rural and social sectors. To retain old customers and to attract new customer's products with

adds-on features should be introduced besides attractive advertisements. To reach out more customers, tie-ups with companies, in various

sectors can be arranged to cover the insurance needs of their employees. As the awareness level among the government officials for some

insurance policies like ULIP, Money back plan, Endowment plan, Children's plan, Protection plan, etc. are very low, periodical awareness programs in the respective government officials with concurrence of higher officials should be conducted.

To enhance the satisfaction level of policyholders and to avoid losing

the existing customers periodical market surveys should be conducted. To utilize one of the most important marketing channel (commercial

banks) very effectively for promoting the products, steps should be taken to

63

make the banks incorporate successful sales tactics used by them to sell other financial services.

5.4 CONCLUSION

64

Insurance sector is one of the most booming sectors in India. The penetration level of insurance in India is only 2.3% when compared to 9-15% in the developed nations. There is a huge market for the Insurance products in the future in India. The project was very useful to the researcher to understand the life insurance business.

Bibliography
Books

65

Khan. M. Y, FINANCIAL SERVICES, Tata McgrawHill, New Delhi Gordon and Natarajan, Financial Markets and Services, Himalaya

Publishing House, Mumbai V.A Avadhani, Marketing of Financial Services, Himalaya Publishing

House, Mumbai

WEBSITES www.hdfclifeinsurance.com www.irda.com

REPORTS IRDA Reports

66