Investor Behaiour Toward PNB MET LIFE Ife Insurance Policies Amit Singh

A
SUMMER TRAINING REPORT

ON
INVESTOR BEHAVIOUR TOWARDS PNB
METLIFE INSURANCE COMPANY AND
OTHERS
Submitted to Uttrakhand Technical University in

the partial fulfillment of the requirement for the
award of the degree of
MASTER OF BUSINESS
ADMINISTRATION
2013-2015
Under the Guidance of
Submitted by
Study of Investor Behavior Toward PNB MET life Insurance
Page 1
DOON BUSINESS SCHOOL, DEHRADUN
STUDENTS DECLERATION
I hereby declare that project report conducted at MAVEN SOLUTION on
STUDY OF RECRUITMENT AND SELECTION IN CONSULTANCY
FIRM written and submitted by me, under the guidance of Priyam Garg
While preparing the report, I have not copied anything from any source or
other projects submitted for similar purpose.
PLACE
NEHA
NEGI
DATE
MBA
3rd
Sem
Page 2
CERTIFICATE
I have the pleasure in certifying that
is a bonafide student of
IVth Semester of the Masters Degree in Business Administration (Batch

2012-2014), of Uttaranchal Institute of Technology, Dehradun under
Uttarakhand Technical University.
He has completed his dissertation report entitled REAL ESTATE my

guidance.
I certify that this is his/her original effort & has not been copied from any
other source. This project has also not been submitted in any other Institute /
University for the purpose of award of any Degree.
This project fulfils the requirement of the curriculum prescribed by this

Institute for the said course. I recommend this project work for evaluation &
consideration for the award of Degree to the student.
Signature
Name of the Guide
Page 3
Designation
Date
ACKNOWLEDGEMENT
Every study requires a guidance of someone who is working in that field.
Firstly I would like to thank Director Sir Dr. Pradeep Suri for providing an
opportunity of preparing a Project Report and allowing to use the resources
of the institution during this project.
I am extremely thankful to my Project Guide Mrs. Amita Sharma ,for her
precious guidance regarding the preparation of the dissertation . Her
guidance has proved to be useful and without him, the preparation of this
report might not have been possible.
I am also thankful to the other faculty members of UIM for extending their
valuable support for this project.
I also extend my sincere thanks to the Respondents, who helped me during
the course of project and for their gracious attitude.
I would like to take this opportunity to extend my warm thoughts to those
who helped me in making this project a wonderful experience.
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PREFACE
The liberalization of the Indian insurance sector has been the subject of much
heated debate for some years. The policy makers where in the catch 22 situation wherein
for one they wanted competition, development and growth of this insurance sector which
is extremely essential for channeling the investments in to the infrastructure sector. At the
other end the policy makers had the fears that the insurance premium, which are
substantial, would seep out of the country; and wanted to have a cautious approach of
opening for foreign participation in the sector.
As one of the rare occurrences the entire debate was put on the back burner and the IRDA
saw the day of the light thanks to the maturing polity emerging consensus among factions
of different political parties. Though some changes and some restrictive clauses as
regards to the foreign participation were included the IRDA has opened the doors for the
private entry into insurance.
Whether the insurer is old or new, private or public, expanding the market will present
multitude of challenges and opportunities. But the key issues, possible trends,
opportunities and challenges that insurance sector will have still remains under the realms
of the possibilities and speculation. What is the likely impact of opening up Indias
insurance sector?
The large scale of operations, public sector bureaucracies and cumbersome procedures
hampers nationalized insurers. Therefore, potential private entrants expect to score in the
areas of customer service, speed and flexibility. They point out that their entry will mean
better products and choice for the consumer. The critics counter that the benefit will be
slim, because new players will concentrate on affluent, urban customers as foreign banks
did until recently. This seems to be a logical strategy. Start-up costs-such as those of
setting up a conventional distribution network-are large and high-end niches offer better
returns. However, the middle-market segment too has great potential. Since insurance is a
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volumes game. Therefore, private insurers would be best served by a middle-market

approach, targeting customer segments that are currently untapped
INSURANCE INDUSTRY IN INDIA
AN OVERVIEW
With the largest number of life insurance policies in force in the world, Insurance
happens to be a mega opportunity in India. Its a business growing at the rate of 15-20 per
cent annually and presently is of the order of Rs 1560.41 billion (for the financial year
2006 2007). Together with banking services, it adds about 7% to the countrys Gross
Domestic Product (GDP). The gross premium collection is nearly 2% of GDP and funds
available with LIC for investments are 8% of the GDP.
Even so nearly 65% of the Indian population is without life insurance cover while health
insurance and non-life insurance continues to be below international standards. A large
part of our population is also subject to weak social security and pension systems with
hardly any old age income security
A well-developed and evolved insurance sector is needed for economic development as it
provides long term funds for infrastructure development and strengthens the risk taking
ability of individuals. It is estimated that over the next ten years India would require
investments of the order of one trillion US dollars.
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HISTORICAL PERSPECTIVE
The history of life insurance in India dates back to 1818 when it was conceived as a
means to provide for English Widows. Interestingly in those days a higher premium was
charged for Indian lives than the non - Indian lives, as Indian lives were considered more
risky to cover. The Bombay Mutual Life Insurance Society started its business in 1870. It
was the first company to charge the same premium for both Indian and non-Indian lives.
The Oriental Assurance Company was established in 1880. The General insurance
business in India, on the other hand, can trace its roots to Triton Insurance Company
Limited, the first general insurance company established in the year 1850 in Calcutta by
the British. Till the end of the nineteenth century insurance business was almost entirely
in the hands of overseas companies.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during the
1920's and 1930's sullied insurance business in India. By 1938 there were 176 insurance
companies.
The first comprehensive legislation was introduced with the Insurance Act of 1938 that
provided strict State Control over the insurance business. The insurance business grew at
a faster pace after independence. Indian companies strengthened their hold on this
business but despite the growth that was witnessed, insurance remained an urban
phenomenon.
The Government of India in 1956, brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and Life Insurance
Page 7
Corporation (LIC) was born. Nationalization was justified on the grounds that it would
create the much needed funds for rapid industrialization. This was in conformity with the
Government's chosen path of State led planning and development.
The non-life insurance business continued to thrive with the private sector till 1972. Their
operations were restricted to organized trade and industry in large cities. The general
insurance industry was nationalized in 1972. With this, nearly 107 insurers were
amalgamated and grouped into four companies- National Insurance Company, New India
Assurance Company, Oriental Insurance Company and United India Insurance Company.
These were subsidiaries of the General Insurance Company (GIC).
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INDUSTRY REFORMS
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body in
April 2000 has fastidiously stuck to its schedule of framing regulations and registering
the private sector insurance companies. Since being set up as an independent statutory
body the IRDA has put in a framework of globally compatible regulations.
The other decision taken simultaneously to provide the supporting systems to the
insurance sector and in particular the life insurance companies was the launch of the
IRDA online service for issue and renewal of licenses to agents. The approval of
institutions for imparting training to agents has also ensured that the insurance companies
would have a trained workforce of insurance agents in place to sell their products.
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PRESENT SCENARIO - LIFE INSURANCE INDUSTRY IN INDIA

The life insurance industry in India grew by an impressive 47.38%, with premium
income at Rs. 1560.41 billion during the fiscal year 2006-2007. Though the total volume
of LIC's business increased in the last fiscal year (2006-2007) compared to the previous
one, its market share came down from 85.75% to 81.91%.
The 17 private insurers increased their market share from about 15% to about 19% in a
year's time. The figures for the first two months of the fiscal year 2007-08 also speak of
the growing share of the private insurers. The share of LIC for this period has further
come down to 75 percent, while the private players have grabbed over 24 percent.
With the opening up of the insurance industry in India many foreign players have entered
the market. The restriction on these companies is that they are not allowed to have more
than a 26% stake in a companys ownership.
Since the opening up of the insurance sector in 1999, foreign investments of Rs. 8.7
billion have poured into the Indian market and 19 private life insurance companies have
been granted licenses.
Innovative products, smart marketing, and aggressive distribution have enabled fledgling
private insurance companies to sign up Indian customers faster than anyone expected.
Indians, who had always seen life insurance as a tax saving device, are now suddenly
turning to the private sector and snapping up the new innovative products on offer. Some
of these products include investment plans with insurance and good returns (unit linked
plans), multi purpose insurance plans, pension plans, child plans and money back plans.
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INTRODUCTION TO THE COMPANY

COMPANY PROFILE OF PNB MET LIFE
i.
Name:
Name of organization (Full name, registered address, and website)

Metlife
Head Office
MetLife India Insurance Company Limited.
No.5 Brigade Seshmahal Vani Vilas Road
Basavanagudi
Bangalore
Phone : 080 - 66006969 / 26438638
Fax : 080-22421970
Pin : 560004
Registered Office
Metlife India Insurance Company Limited.
5th Floor Orchid Centre Golf Course Road Sector 53
Gurgaon
Phone : 0124-4179000
Fax : 2572748
Pin : 122002
Headquarters: New York City, New York, U.S
Financial Highlights Fiscal Year End:
Revenue (2010): 52717.00 Million
Revenue Growth (1 yr): 28.40%
Employees (2010): 66,000
Employee Growth (1 yr): 22.20%
Website:- http://www.metlife.co.in/
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ii.
Key Executives
KEY EXECUTIVES - METLIFE INC (MET)

Name
Board Relationships Title
Age
Steven A.
13 RelationshipsChief Executive Officer, President and Director 59
Kandarian J.D.
Chief Financial Officer, Executive Vice
William J.
President, Chief Financial Officer of
No Relationships
49
Wheeler
Metropolitan Life and Executive Vice President
of Metropolitan Life
Maria R.
Executive Vice President of Technology and
12 Relationships
48
Morris
Operations
Eileen C.
40 RelationshipsPresident of New England Financial
48
McDonnell
President of MetLife Auto & Home and Senior
William D.
No Relationships
Vice President of Eastern Zone - Individual
-Moore
Business
Collapse Detail
Board Members - METLIFE INC (MET)

Name
C. Robert
Henrikson
Steven A.
Kandarian
J.D.
Kenton J.
Sicchitano
Cheryl W.
Gris
James M.
Kilts
Board Relationships Primary Company
Age
178 RelationshipsMetropolitan Life Insurance Company
64
13 Relationships MetLife, Inc.
59
38 Relationships MetLife, Inc.
66
70 Relationships FirstLight Hydro Generating Company
58
157 RelationshipsCenterview Partners Management LLC
62
View All MET Board Members

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EXECUTIVE COMMITTEES* - METLIFE INC (MET)

Committee Name
Chairperson
Audit Committee
Kenton J. Sicchitano
38 Relationships
Compensation Committee
James M. Kilts
157 Relationships
Corporate Governance
Committee
Cheryl W. Gris
70 Relationships
Executive Committee
C. Robert Henrikson
178 Relationships
Finance Committee
Alfred F. Kelly Jr.
13 Relationships
iii.
Board Relationships
Members
6
Executives
6
Executives
5
Executives
4
Executives
5
Executives
History
The first MetLife Company was established in New York in 1868 offering life
insurance solutions to the middle class. Over the years, the MetLife companies
have made difference in the communities where they operate, and the
organizations social commitment and its commitment to the security of its
policyholders
have
proven
to
be
good
business.
Here are few highlights in our 140 years of history:
1868 Metropolitan Life Insurance Company is established
1912 In partnership with American Red Cross, transforms the corporate

headquarters into an administrative relief and support center for Titanic survivors
and their families.
1930 Helps thousands of farmers buy back their foreclosed farms and restores
them to productivity during Great Depression
1931 Provides financing for the construction of the Empire State Building and
Rockefeller Center
1974 Auto and home insurance are added to our product offerings
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1989 First operations outside of the U.S. are established in Korea and Taiwan.
1991 - Becomes the first insurer in North America to surpass $1 trillion of life
insurance in force
1992 Establishes the first Latin American operation
2000 Becomes a publicly owned stock company with MetLife, Inc. listed on the
New York Stock Exchange
2001 Enters the banking sector with establishment of MetLife Bank. Responds
to 9/11 by paying claims immediately, awarding grants and investing over $1
billion in publicly traded stocks.
2002 Acquires Aseguradora Hidalgo, S.A., becoming the largest life insurer in
Mexico.
2005 Acquires Travelers Life & Annuity and substantially all of Citigroups
international insurance business, strengthening our leadership in the U.S. and
expanding its distribution capabilities worldwide.
iv.
Key Facts
MetLifes trusted brand, capital strength and existing relationships with millions
of individual and institutional customers around the globe uniquely position us
among our competitors.
Here are few facts that highlight our leadership in the global insurance industry:
The MetLife companies competitive positioning
#1 life insurer in the United States

#1 life insurer in Mexico
#2 combined life and annuity in Chile
#1 life sales via telemarketing in Taiwan
#1 commercial dental carrier in the United States
#2 variable annuity sales in Japan
MetLife, Inc.s financial highlights

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$501.7 billion USD in total assets under

management as of 2008 YE
$51.0 million USD in total revenues as of 2008 YE
v.
Vision and Values
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"Coming into your own",

performing as a Leader to
be really effective and
successful by acting and
making decisions
independently to get
results.
Operating with an intense

dedication to managing
monetary resources for
strong business results.
It's all about People,

MetLife's key resource.
MetLife will succeed
because we are winning
from within.
Continuously creating and

introducing new and
original ideas and ways of
doing things.
Functioning productively in
teams towards a common
purpose; realising the
collective power of diverse
work-groups.
Conducting all business

endeavours with truth,
sincerity and fairness.
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vi.
Mission Statement
We are committed to maintaining the highest standards of integrity and professionalism

in our relationship with you, our client. We endeavour to know and understand your
financial situation and provide you with only the information, services, and products to
help you reach your goals.
Business Philosophy
vii.
"The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise
application." Miguel De Cervantes (1587)
Today's clients are looking for security, knowing that they have enough money, and that their needs are
taken care of. Freedom to do what they want, when they want. As a Financial Professional with over 20
years of knowledge and experience in the financial service industry, clients who gain the most benefit from
my areas of focus have the following characteristics:
They want a trusting relationship with a financial professional.
They are financially motivated and serious about personal financial success.
They are active professionals, business owners, or retirees that are accustomed to
delegating their financial matters to competent, trustworthy professionals.
They are not influenced by the daily ups and downs reported by the financial
media.
They are sharing people, who like to help others and who are influential.
They enjoy the simplicity of having all of their assets in one place.
They understand that having a strategy is important, and sticking to that strategy
is what makes it work.
viii.
Corporate Social Responsibility
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MetLife has always been committed to making a positive difference in the lives of
the individuals and communities. Today, that commitment drives volunteer work and
philanthropy across the globe. Working with non-profit organizations, MetLife supports
programs that provide young people with the skills they need to succeed in life and create
opportunities for people of all ages.
MetLifes core values are personal responsibility, people count, partnership, integrity and
honesty, innovation and financial strength. These values also shape the responsibility to
the communities where the organization conducts its business.
ix. Product range in MetLife

In Broad sense these are the various types/categories of life insurance policies
available:Endowment policies: This type of policy covers risk for a specified period, and at the
end of the maturity sum assured is paid back to policyholder with the bonuses during
the term of the policy.
Money back policies: This type of policy is for periodic payments of partial survival
benefits during the term of the policy as long as the policy holder is alive.
Group insurance: This type of insurance offers life insurance protection under group
policies to various groups such as employers-employees, professionals, co-operatives
etc it also provides insurance coverage for people in certain approved occupations at
the lowest possible premium cost.
Term life insurance policies: This type of insurance covers risk only during the
selected term period. If the policy holder survives the term, risk cover comes to an
end. These types of policies are for those people who are unable to pay larger
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premium required for endowment and whole life policies. No surrender, loan or paid
up values are in such policies.
Whole life insurance policies: This type of policy runs as long as the policyholder is
alive and is covered for the entire life of the policyholder. In this policy the insured
amount and the bonus is payable only to nominee on the death of policy holder.
Joint life insurance policies: These policies are similar to endowment policies in
maturity benefits and risk cover, but joint life policies cover two lives simultaneously
such as married couples. Sum assured is payable on the first death and again on the
death of survival during the term of the policy.
Pension plan: a pension plan or annuity is an investment over a certain number of
years but does not provide any life insurance cover. It offers a guaranteed income
either for a life or certain period.
Unit linked insurance plan: LIP is a kind of insurance plan which provides life cover
as well as return on premium paid over a certain period of time. The investment is
denoted as units and represented by the value called as net asset value (NAV).
Met Bhavishya: MetLife offers 'Met Bhavishya' - a guaranteed money back plan
that pays out funds to help you meet the education and career milestones of your
children. With this plan, the Life Insured is that of the parent. The plan also has
inbuilt guaranteed additions to add value to the policy over its term.
There are two options to choose from and fixed term benefits, periodic additions
& terminal additions are payable based on the option that you select. The policy is
suitable for parents with children between the ages 0-12 and parents in the age
group of 20-50 years old.
Reasons to Buy:
1. Guaranteed payouts at critical milestones of the childs life.
2. Guarantee of policy continuance in case of the untimely demise of
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parent.
3. Guaranteed payouts of 250%* of the chosen Sum Assured.
4. *Tax Benefits as applicable.
Met Junior Endowment: MetLife offers 'Met Junior' - a flexible endowment plan that combines
savings and security. Your children's well-being is your highest priority. So we offer a plan which
offers both timely and efficient "Return on Investment". All with a guarantee. Met Junior is available
in both participating (UIN:117N010V01) as well as non-participating versions(UIN:117N005V01).
Death
Benefit
Reasons to Buy:
1. An endowment plan that offers both savings and life insurance.
2. Different premium paying options to suit various income cycles.
3. Available in both par and non par versions.
4. A plan which participates in the bonuses declared by the company (par).
Met Easy Super: "IN THIS POLICY, THE INVESTMENT RISK IN THE
INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER"
While you plan to secure the happiness and future of your loved ones, give wings
to your dreams of wealth creation. Security for your family and your need of
wealth creation should work together as you move ahead in life. We understand
that at MetLife, and hence we bring you Met Easy Super an Easy Protection,
Super wealth creation plan. While you ensure security for your loved ones, we
work towards your goals of wealth creation - because you and your family
deserve the very best.
Reasons to choose this:
1. Affordable investment with annual premium starting from Rs.12,000 p.a.
2. A unique Auto rebalancing# option to help you capitalize on volatile market
conditions
3. Enhanced protection with ADB rider.
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4. Liquidity with Partial Withdrawals & Policy Loans

Met Monthly Income Plan - 7 Pay: MetLife offers 'Met Monthly Income Plan-7 Pay' where you are
required to pay premium only for 7 years and get back the Guaranteed Monthly Income that you
choose at inception for 8 years. At the end of the term you will also get the accrued bonuses as a
lump sum. A Monthly Income Plan that guarantees income to add to your income every month
because these days growing needs demand more than one income.
Reasons to buy:
1. Get chosen Guaranteed Regular Monthly Income for 8 years i.e., 96 months.
2. You will get accrued bonuses as a lumpsum at maturity of the plan, if any.
3. In addition to the death benefit your family will continue to get guaranteed monthly income as
scheduled.
4. Tax benefits* on both the amount invested and the benefits received under Section 80C and
Section 10 (10)D.\
Met Sukh: MetLife offers Met Sukh - a guaranteed Money-Back Policy which
provides guaranteed periodic survival benefits at the end of 5, 10, 15 & 20 years
and guaranteed additions of 10% of the Sum Assured for the entire term. It not
only covers your life, but also guarantees you cash payments at various
milestones along with guaranteed growth of your savings.
Reasons to buy:
1. Guaranteed Survival Benefit: Payment of 20% of the Sum Assured every year
starting from the 5th year till maturity.
2. Guaranteed Maturity Benefit:
Guaranteed payment of 40% of Sum Assured.
Guaranteed Addition of 10% of Sum Assured every year up to maturity.
3. Guaranteed Death Benefit: Guaranteed payment of Sum Assured along with
Guaranteed Additions (accrued till that time). This is paid over and above the
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survival benefit payments already made.

4. Comprehensive protection by way of 4 riders.
Met Health Care: Health problems strike unexpectedly. In addition to causing ill
health, it can also scar financial health. One needs to protect himself against such a
situation through a health insurance plan. In order to ensure you are well protected to
face any health condition that could befall you, MetLife presents - Met Health Care, a
simple health insurance policy with unique and smart advantages for you and your
family#.
(# Family means spouse and two children. Every additional family member shall be
underwritten as per the underwriting conditions laid by the Company from time to
time.)
Met Health Care is a long term health insurance plan from MetLife.
This plan covers
1. Hospitalization expenses by providing a Daily Cash benefit as chosen by you.
2. 10 major Critical Illnesses by providing a lump sum benefit.
3. Total & Permanent Disability due to accident by providing a lump sum benefit.
All the above benefits can be availed without the hassle of undergoing any medical
examination. Just fill up the simple application form and start enjoying the unmatched
benefits of Met Health Care.
Minimum/Maximum age of entry
18 years-55 years (At first entry, for the Principal insured)
3 months-55 years (For Secondary Insured lives)
Cover ceasing age 65 years
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Benefits Offered
(a) Daily Hospitalisation Cash Benefit
(b) Daily ICU Cash Benefit
(c) Recuperation Benefit
(d) Critical Illness Benefit
(e) Accidental Total & Permanent Disability Benefit
Met Mortgage Protector Plus: MetLife presents 'Met Mortgage Protector Plus' a plan which
provides you life cover for home loans taken for any period above 5 years. It is a decreasing term
insurance with single and limited premium options. The plan covers you for an amount equal to the
outstanding amount as per the policy schedule. It ensures the asset that you have created stays
with
your
family.
Reasons to buy:
1. It protects the family against the burden of a loan.

2. It is an affordable insurance plan that covers the risk of life.
3. It provides protection for all kind of loans taken for a period above 5
years.
4. Limited and Single premium paying terms.
Other Services and Products:
Stocks and Bonds
Charitable Giving Strategies
IRA Consolidation/Rollovers
Mortgage Protection (through life insurance and disability income insurance)
Lump Sum Pension Distribution
Medicare Supplement Coverage
Pension Payout Alternatives
Page 23
Pension Transer/Rollovers
Tax Sheltered Annuities, 403(b) Plans
Variable Universal Life Insurance
Over 20 Years Experience
x.
Sales Process at Metlife

1.
Prospecting
Generally, the first stage of the technical sales cycle is prospecting. Prospecting is a
process of gathering the names of people you would like to contact. Here, your objective
should be to decide which sources to use for building sales contact lists. Often, the best
place to start is with your existing clients because chances are they already know your
product and have an established history of purchasing from your company. You may also
consider re-establishing contact with past and inactive clients for the same reasons. You
can retrieve names of old, inactive and active clients just by looking through your own
company's sales records. However, developing new lists is also important, to maintain
growth and market position. There are a variety of sources you can use to develop new
lists.
Directories - Whether they are for general businesses or specialized industries,

directories are an excellent source for gathering new contacts.
Customized mailing lists - If directories are too general or not organized in ways
that make it easy for you to extract prospect names, you can order your own
customized mailing list from a mailing list broker. Mailing lists can be generated
for different types of information, i.e. by region, industry, position/title, company
size, etc.
PLANS OF PNB METLIFE

Page 24
1.Monthly income protection plans:

Particulars
Min/Max Age at
entry*
Max. age at
maturity*
Monthly Income
Options
Plan options
Boundary Conditions
25 years 60 years (55 for Policy term 20
years)
75 years
Premium paying
options
Yearly, Half-Yearly, Monthly
Rs.10,000/-, Rs.25,000/-, Rs.50,000/Rs.75,000/- & Rs.100,000/Term Cover & Term with Return of Premium
Option(TROP)
Policy Term options 10 years
15 years
20 years
Benefit Payout
240 months 180 months 120 months
Period
Min. Premium
Rs. 3,055
Rs. 2,780
Rs. 2,520
(Term)
Max. Premium
Rs. 1,26,160 Rs. 1,33,590 Rs. 83,450
(Term)
Min. Premium
Rs. 24,137
Rs. 11,852
Rs. 7,881
(TRoP)
Max. Premium
Rs. 6,29,670 Rs. 3,67,170 Rs. 1,85,800
(TRoP)
Min Sum Assured
14.20 lakhs 12.00 Lakhs 9.10 Lakhs
Max. Sum Assured 1.42 Crs
1.24 Crs
0.95 Crs
Benefits:
Death Benefit:
In the event of your death during the Coverage Term, your nominee shall receive
Monthly Income as opted by you.
Maturity Benefit:
You have the choice to get 110% of premiums back on the maturity date by opting the TROP option. Speak
to our financial advisor for more details.
Page 25
Reason to buy:
Up to 20 years of regular Monthly Income guaranteed1 to your family

110% of your premium paid back at the end of the policy term
5 easy monthly income options of Rs.10,000, Rs.25,000, Rs.50,000, Rs.75,000 &
Rs.100,000
Provides tax advantage both at the time of purchase and when monthly income is paid
to your family.
2.Retirement plans
Particulars
Premium Payment Term/Policy
Term
Min/Max Age at entry*
18-55 years
Monthly Income Duration
Min. Monthly Income
Max. Monthly Income
Boundary Conditions
10 years
18-55 years
65 Years
180 Months(15 Years)
Rs.1,500
Rs. 100,000
Benefits:
Maturity Benefit:
You will receive chosen Monthly Income for 15 years. In addition, you have the option to
take the accrued bonus as lump sum or enhance your monthly income.
Simple Reversionary Bonus & Terminal Bonus:
Bonus gets added to your policy from third policy year, continues up to the maturity of your policy and
becomes payable either at death or maturity.
Death benefit:
Death Benefit is paid on eventuality. You have the option of providing Lump Sum Benefit or Guaranteed
Income to your family.
Reason to buy:
1. Pay for 10 years and convert your prosperity into Guaranteed Monthly Income for the
next 15 years
2. Enhance your wealth at maturity with bonus pay-outs
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3. Enjoy Tax-Free income & bonus

4. Provides financial protection for your family and loved ones.
3.Met money back plan

Particulars
Premium Payment Term
Min. Age at entry*
Max. Age at entry*
Max. age at maturity*
Policy Term
Min Sum Assured
Max Sum Assured
Boundary Conditions
Regular
13 Years
55 Years
65 Years
10 Years only
Rs. 250,000
Rs. 5 Crore
Benefits
Survival Benefits:
You will receive 10% of the chosen Base Sum assured as survival
benefits on the completion of 5th Policy Year up to 9th Policy Year.
Maturity benefit:
In case of your survival till maturity, you will get 60% of Sum
Assured at the end of the Policy Term.
Benefits at a glance
At the end of
5th year
6th year
7th year
8th year
9th year
10th year
Benefits
10% of Sum Assured
10% of Sum Assured
10% of Sum Assured
10% of Sum Assured
10% of Sum Assured
60% of Sum Assured
Death benefit:
In case of the unfortunate demise of the Life Insured, we shall pay
Page 27
the highest of the chosen Sum Assured or 10 times the annualized

premium or 105% of all premiums paid or Maturity Benefit, as
Death Benefit to the nominee(s) irrespective of the Survival
Benefits already paid.
Reasons to buy:
1. Regular survival benefits of 10% of Sum Assured payable on the completion of 5th
Policy year up to 9th Policy year.
2. Total benefits of 110% of Sum Assured payable during the policy term
3. In case of unfortunate demise of life insured, Death Benefit will be paid irrespective of
the survival benefits already paid.
4. Tax benefits under section 80C and 10(10D).
4.Child plans
Particulars
Minimum/Maximum Age at entry
(LBD)* for Life Insured
Minimum /Maximum Age at entry
(LBD)* for beneficiary
Premium Payment term (years)
Minimum Annualised Premium
Maximum Annualised Premium
Policy Term
Sum Assured
Premium Payment modes
Boundary condition
18/55 years
90 days/17 years
Same as policy Term
Rs. 18,000 p.a.
Till age 35 : 2 lakh
36-45 age: 1.25 lakh
Age 46+ : 1 lakh
10, 15 & 20 years
10 times the chosen
Annualised Premium only
Annual, Semi Annual,
Quarterly, monthly
Benefits :
Death Benefit:
In case of insureds/Policyholders sudden demise, to take care of the unexpected
emergencies and future planning of your child, your Policy entails following benefits:
1. Higher of Sum Assured or 105% of the Total Regular Premium paid is paid
immediately to your beneficiary, subject to acceptance of claim by the company.
Page 28
2. Future Premiums payments under the Policy will cease. In addition, the PNB
MetLife will credit on a regular basis an amount equivalent to one annualized
regular premium as a part of Premium Waiver Benefit (PWB) on a monthly basis
into Policyholders Fund.
Maturity Benefit:
At the end of the Policy term, Fund Value along with Loyalty additions, as applicable,
will be paid to you.
Reason to buy:
1. PNB MetLife takes care of the premiums for the Policy in case of unfortunate demise
of the parent.
2. Affordable investment with annual premium starting from Rs.18,000 p.a.
3. Systematic Transfer option to help you get the best of equity markets
4. Liquidity with Partial Withdrawals and unlimited switches to manage your funds
5. Tax Benefits.
5.Met endowment plan:

Particulars
Min. Age at entry*
Max. Age at entry*
Max. age at maturity*
Premium Payment Term
Options
Boundary Conditions
20 years
60 years (54 years in LP 5 option)
75 years
Limited Limited Regular
Pay
Pay
Pay
5 years
10 years
Minimum Policy Term
10 years
15 years
10 years
Maximum Policy Term#
20 years
25 years
30 years
Min. Sum Assured
Rs.
164,000
Rs.
257,000
Rs.
145,000
Max. Sum Assured
Rs. 5
Crore
Rs. 5
Crore
Rs. 5
Crore
Benefits:
Maturity benefit:
On the maturity date, you will get the Base Sum Assured plus
Page 29
accrued Simple Reversionary Bonus with Terminal Bonus, if any

Simple Reversionary Bonus & Terminal Bonus :
Bonus gets added to your policy from third policy year, continues
up to the maturity of your policy and becomes payable either at
maturity.
Death benefit:
Higher of Base Sum Assured or 10 times the Annualized Premium
along with accrued bonus (including Terminal Bonus) or 105% of
Premium paid till the date of death is paid as Death Benefit.
Your annual premium multiplied with the Multiplier factor is the
Base Sum Assured.
Reasons to buy:
1. Decide the Premium and the payout date of your choice
2. Invest and earn more on your savings
3. Enjoy double benefit of Investments and Protection
4. Enjoy tax benefits on investment and returns.
EXECUTIVE SUMMARY
In todays corporate and competitive world, I find that insurance sector has the maximum
growth and potential as compared to the other sectors. Insurance has the maximum
growth rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. This
growth potential attracts me to enter in this sector and PNB MET LIFE has given me the
opportunity to work and get experience in highly competitive and enhancing sector.
Page 30
The success story of good market share of different market organizations depends
upon the availability of the product and services near to the customer, which can
be distributed through a distribution channel. In Insurance sector, distribution
channel includes only agents or agency holders of the company. If a company like
PNB METLIFE etc have adequate agents in the market they can capture big
market as compared to the other companies.
Agents are the only way for a company of Insurance sector through which
policies and benefits of the company can be explained to the customer.
MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIA
Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread
the message of life insurance in the country and mobilise peoples savings for nationbuilding activities. LIC with its central office in Mumbai and seven zonal offices at
Page 31
Mumbai, Calcutta, Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates through 100
divisional offices in important cities and 2,048 branch offices. LIC has 5.59 lakh active
agents spread over the country.
The Corporation also transacts business abroad and has offices in Fiji, Mauritius and
United Kingdom. LIC is associated with joint ventures abroad in the field of insurance,
namely, Ken-India Assurance Company Limited, Nairobi; United Oriental Assurance
Company Limited, Kuala Lumpur; and Life Insurance Corporation (International), E.C.
Bahrain. It has also entered into an agreement with the Sun Life (UK) for marketing unit
linked life insurance and pension policies in U.K.
In 1995-96, LIC had a total income from premium and investments of $ 5 Billion while
GIC recorded a net premium of $ 1.3 Billion. During the last 15 years, LIC's income
grew at a healthy average of 10 per cent as against the industry's 6.7 per cent growth in
the rest of Asia (3.4 per cent in Europe, 1.4 per cent in the US).
LIC has even provided insurance cover to five million people living below the poverty
line, with 50 per cent subsidy in the premium rates. LIC's claims settlement ratio at 95
per cent and GIC's at 74 per cent are higher than that of global average of 40 per cent.
Compounded annual growth rate for Life insurance business has been 19.22 per cent per
annum
General Insurance Corporation of India (GIC)
The general insurance industry in India was nationalized and a government company
known as General Insurance Corporation of India (GIC) was formed by the Central
Government in November 1972. With effect from 1 January 1973 the erstwhile 107
Page 32
Indian and foreign insurers which were operating in the country prior to nationalization,
were grouped into four operating companies, namely, (i) National Insurance Company
Limited; (ii) New India Assurance Company Limited; (iii) Oriental Insurance Company
Limited; and (iv) United India Insurance Company Limited. (However, with effect from
Dec'2000, these subsidiaries have been de-linked from the parent company and made as
independent insurance companies). All the above four subsidiaries of GIC operate all
over the country competing with one another and underwriting various classes of general
insurance business except for aviation insurance of national airlines and crop insurance
which is handled by the GIC.
Besides the domestic market, the industry is presently operating in 17 countries directly
through branches or agencies and in 14 countries through subsidiary and associate
companies.
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN
PERMITTED TO ENTER INTO INSURANCE BUSINESS: The introduction of private players in the industry has added to the colors in the dull
industry. The initiatives taken by the private players are very competitive and have given
immense competition to the on time monopoly of the market LIC. Since the advent of the
private players in the market the industry has seen new and innovative steps taken by the
players in this sector. The new players have improved the service quality of the insurance.
As a result LIC down the years have seen the declining phase in its career. The market
share was distributed among the private players. Though LIC still holds the 75% of the
insurance sector but the upcoming natures of these private players are enough to give
Page 33
more competition to LIC in the near future. LIC market share has decreased from 95%
(2002-03) to 82 %( 2004-05).
1. HDFC Standard Life Insurance Company Ltd.
HDFC Standard Life Insurance Company Ltd. is one of Indias leading private life
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.), Indias leading housing finance institution and The Standard Life Assurance
Company, a leading provider of financial services from the United Kingdom. Their
cumulative premium income, including the first year premiums and renewal premiums is
Rs. 672.3 for the financial year, Apr-Nov 2005. They have managed to cover over
11,00,000 individuals out of which over 3,40,000 lives have been covered through our
group business tie-ups.
2. Max New York Life Insurance Co. Ltd.

Max New York Life Insurance Company Limited is a joint venture that brings together
two large forces - Max India Limited, a multi-business corporate, together with New York
Life International, a global expert in life insurance. With their various Products and
Riders, there are more than 400 product combinations to choose from. They have a
national presence with a network of 57 offices in 37 cities across India.
3. ICICI Prudential Life Insurance Company Ltd.
Page 34
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a
premier financial powerhouse and Prudential plc, a leading international financial
services group headquartered in the United Kingdom. ICICI Prudential was amongst the
first private sector insurance companies to begin operations in December 2000 after
receiving approval from Insurance Regulatory Development Authority (IRDA). The
company has a network of about 56,000 advisors; as well as 7 banc assurance and 150
corporate agent tie-ups.
4. Om Kotak Mahindra Life Insurance Co. Ltd.
Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak
Mahindra Bank Ltd. (KMBL), and Old Mutual plc.
5.Birla Sun Life Insurance Company Ltd.
Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun
Life financial Services of Canada.
Tata AIG Life Insurance Company Ltd.
SBI Life Insurance Company Limited
ING Vysya Life Insurance Company Private Limited
Allianz Bajaj Life Insurance Company Ltd.
Metlife India Insurance Company Pvt. Ltd.
AMP SANMAR Assurance Company Ltd.
Dabur CGU Life Insurance Company Pvt. Ltd.
Page 35
1. Royal Sundaram Alliance Insurance Company

The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram
Finance Limited started its operations from March 2001. The company is Head Quartered
at Chennai, and has two Regional Offices, one at Mumbai and another one at New Delhi.
2. Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto
Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and
strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development
Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct General
Insurance business (including Health Insurance business) in India. The Company has an
authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining
26% is held by Allianz, AG, Germany.
3. ICICI Lombard General Insurance Company Limited
Page 36
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI
Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI
Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified
financial corporate engaged in general insurance, reinsurance, insurance claims
management and investment management.
Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of
Canada's oldest property and casualty insurers. ICICI Lombard General Insurance
Company received regulatory approvals to commence general insurance business in
August 2001.
4. Cholamandalam General Insurance Company Ltd.
Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint venture
of the Murugappa Group & Mitsui Sumitomo.
Chola-MS commenced operations in October 2002 and has issued more than 1.4 lakh
policies in its first calendar year of operations. The company has a pan-Indian presence
with offices in Chennai, Hyderabad, Bangalore, Kochi, Coimbatore, Mumbai, Pune,
Indore, Ahmedabad, Delhi, Chandigarh, Kolkata and Vizag.
5. TATA AIG General Insurance Company Ltd.
Tata AIG General Insurance Company Ltd. is a joint venture company, formed from the
Tata Group and American International Group, Inc. (AIG). Tata AIG combines the
strength and integrity of the Tata Group with AIG's international expertise and financial
strength. The Tata Group holds 74 per cent stake in the two insurance ventures while AIG
holds the balance 26 per cent stake.
Page 37
Tata AIG General Insurance Company, which started its operations in India on January
22, 2001, offers the complete range of insurance for automobile, home, personal accident,
travel, energy, marine, property and casualty, as well as several specialized financial
lines.
OBJECTIVES OF STUDY
The main of the present study of is accomplish the following objective.

Proper understanding and analysis of life insurance industry.
To know about brand awareness of PNB MET LIFE Insurance and
customers preference about PNB MET Life Insurance.
According the market survey come know about how much potential of
insurance market in our city.
Page 38
And base on analysis of the result thus obtained make a report on that
research.
Training aims at recruiting maximum number of Life Advisors and to Sell
the maximum policies for the company and bring the business for the
company which ever is going at the particular point of time.
As the PNB MET Life Insurance well reputed company in India its great
chance for me to observed different products launch by other competitor
companies like ICICI prudential, Bajaj alliance ,LIC, Max New York life
etc. In all, it is to understand the overall working of the Life insurance
sector.
The objective behind the project is as follows:
To find the right candidate.
To about their family background, occupation, social relation,
Qualification, Age.
Rational Of Project
SCOPE OF THE STUDY
A big boom has been witnessed in Insurance Industry in recent times. A large number of
new players have entered the market and are vying to gain market share in this rapidly
Page 39
improving market. The study deals with Reliance in focus and the various segments that
it caters to. The study then goes on to evaluate and analyze the findings so as to present a
clear picture of trends in the Insurance sector.
SIGNIFICANCE OF THE STUDY
This is a limited study which takes into consideration the responses of 100 people. This
data can be explorated to take in the trends across the industry. The significance for the
industry lies in studying these trends that emerge from the study. It is a rapidly changing
and evolving sector. People are only beginning to wake up to its vast possibilities. A
study like this can attempt to guide the future of the industry based on current trends
RESEARCH METHODOLOGY
TITLE:
Page 40
To determine customer-buying behavior with a focus on market segmentation for PNB

MET LIFE .
TITLE JUSTIFICATION:
The above title is self explanatory. The study deals mainly with studying the buying
pattern in the insurance industry with a special focus on PNB MET LIFE . The various
segments of the markets divided in terms of Insurance Needs, Age groups , Satisfaction
levels etc will also studied.
OBJECTIVE
Objective One
To determine reasons behind opting for an insurance.
To provide the company with information of customer's Insurance policy if they have
any and reasons for opting for that particular policies.
To know the most preferred policy.
Objective Two
To determine customers perception towards Government insurance companies and

their expectation form Government insurance companies.
To determine the feedback on services provided by any other insurance agent.
To study the types of benefits provided by insurance services.
Page 41
To determine the use of Internet for valuable information and decision-making

process.
.SIGNIFICANE FOR THE RESEARCHER :

To facilitate and provide all the useful information of the study, the company, the
insurance industry and also provide marketing ways, methods of PNB MET LIFE .
RESEARCH DESIGN
NON-PROBABILITY
EXPLORATORY & DISCRIPTIVE EXPERIMENTAL RESEARCH
The research is primarily both exploratory as well as descriptive in nature. The sources of
information are both primary & secondary.
A well-structured questionnaire was prepared and personal interviews were conducted to
collect the customers perception and buying behavior, through this questionnaire.
SAMPLING METHODOLOGY
Sampling Technique:
Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot
study was done in order to know the accuracy of the Questionnaire. The final
Questionnaire was arrived only after certain important changes were done. Thus my
sampling came out to be judemental and convinent
Page 42
Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These
comprise of employees of MNCs, Govt. Employees, Self Employeds etc.
Sample size:
The sample size was restricted to only 100, which comprised of mainly peoples from
different regions of Delhi due to time constraints.
Sampling Area :
The area of the research was New Delhi, India.
Page 43
LIMITATIONS OF THE RESEARCH
1. The research is confined to a certain parts of Dehradun and does not necessarily
shows a pattern applicable to all of Country.
2. Some respondents were reluctant to divulge personal information which can affect
the validity of all responses.
3. In a rapidly changing industry, analysis on one day or in one segment can change
very quickly. The environmental changes are vital to be considered in order to
assimilate the findings.
Page 44
MARKETING STRATREGIES OF THE COMPANY
SOME OF THE STRATEGIES ADOPTED BY PNB MET LIFE

COMPANY.
PNB MET LIFE plans 2.5-crore telephony subscriber base to market its products.
The company is considering a series of options to leverage its relationship with PNB
MET Life
However, a joint product or a co-branded solution would require approval from the
Insurance Regulatory and Development Authority
Customers of R World, the information and entertainment portal of Reliance
Communications, would also be able to pay premiums through a bank account, provided
the bank is listed on the network.
PNB MET LIFE officials, however, offered no comment when asked whether there
would be an arrangement for payment of commission.
As an alternative channel for distribution, insurance companies usually tie up with banks.
In the case of banc assurance, where there is a corporate agency tie-up, the commission
could range from 5 per cent to 40 per cent of first-year premium depending on the
commission loaded on to the product at the time of registration with IRDA.
Page 45
DATA ANALYSIS & INTERPRETATION
DATA GIVES
COMPANIES
PREFERENCE OF RESPONDENTS OF INSURANCE
COMPANYS NAME
NO.OF
RESPONDENT
SHARE (%)
PNB MET LIFE
78
78
LIC
ICICI PRUDENTIAL
10
10
SBI LIFE
HDFC
100
100
TOTAL
INTERPRETATION
78% of the people contacted prefer PNB MET LIFE policy to any other and
therefore it is ranked no.1 by that percent of respondents.
Page 46
DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY ESPONDENTS

NO.OF
RESPONDENTS
SHARE (%)
Cover Future Uncertainty
55
55
Tax Deductions
20
20
Future Investment
25
25
100
100
BENEFITS
TOTAL
INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest
benefit of an insurance policy.
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction
and future investments respectively.
Page 47
DATA PROVIDES FEATURES OF INSURANCE
POLICY THAT
ATTRACTED RESPONDENTS
FEATURE
NO.OF
RESPONDENTS
SHARE (%)
Money Back Guarantee
15
15
Larger Risk Coverance
37
37
Easy Access to Agents
Low Premium
30
30
Companys Reputation
11
11
TOTAL
100
100
FEATURES OF INSURANCE POLICY
MONEY BACK
GUAARENTEE
11%
15%
LARGER RISK
COVERANCE
EASY ACCESS TO
AGENTS
30%
37%
7%
LOW PREMIUM
REPUTATION OF
COMPANY
INTERPRETATION
Majority of the respondent (37%) found Larger risk coverage as the most
attracted feature of the all.
Page 48
DATA
PROVIDES
NUMBER
OF
INSURANCE
POLICY
TYPE
RESPONDENTS
POLICY TYPE
NO. OF
RESPONDENTS
SHARE (%)
PNB METLIFE
75
75
NON LIFE POLICY
25
25
BOTH
45
45
NATURE OF POLICY
45
75
LIFE
POLICY
NON LIFE
POLICY
BOTH
25
INTERPRETATION
75% of the respondents have PNB MET LIFE Policy while 45% have both. (The %
is calculated out of 280 positive response)
Page 49
DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCE

RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
A saving tool
81
81%
A tax saving device
74
74%
A tool to protect your family
100
100%
INTERPRETATION
81% of the respondents have perception of Insurance being a saving tool.
And 74% of the respondents have perception of Insurance being a tax saving device.
But 100% of the respondents are with the view that Insurance is a tool to protect
your family.
Page 50
DATA SHOWS PEOPLES HAVING INSURANCE
30%
70%
Yes
No
RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Yes
70
70%
No
30
30%
Total
100
100%
INTERPRETATION
Page 51
Of the sample size of 400 surveyed respondents 70% of the respondents are having
Insurance policy.
30% of the respondents are either not having any Insurance policy at present or their
policy is already matured.
And at present 100% of the respondents are with the view that Insurance is a tool to
protect your family.
DATA SHOWS BUYING PROCESS OF THE PEOPLE

BUYING PROCESS
NO. OF
RESPONDENTS
SHARE (%)
Customer approached Insurance

company/Agent
45
45%
Company/agent approached
customer
55
555
Total
100
100%
55%
45%
Customer approached Insurance company/Agent

Company/agent approached customer
Page 52
INTERPRETATION
44.5% of the respondents approached the PNB MET Life Insurance Agent.
Whereas, 55.5% of the respondents were approached by the Company /Agent.
DATA SHOWS REASONS BEHIND FOR INSURANCE

RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Tax saving
80
80%
Saving / Investment
80
80.%
Family protection
100
100%
80
100
Slice 1
80
Slice 2
Slice 3
INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
Page 53
80.71% of the Respondents opted for saving / Investments.
But all of them, i.e. 100% of the respondents have opted for insurance for their
family protection.
DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO

POLICY
RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Satisfied
60
60%
Not satisfied
40
40%
Not Responded
0.0%
100
100%
Total
0%
40%
60%
Satisfied
Not satisfied
Not Responded
INTERPRETATION
60% of the respondents are more or less satisfied with their existing policy.
Page 54
40% of the respondents are not satisfied with their existing policy.
In this case all of those who have taken a policy have responded.
Page 55
CHAPTER VI
CONCLUSION
Our exhaustive research in the field of Insurance threw up some interesting trends which
can be seen in the above analysis. A general impression that we gathered during Data
collection was the immense awareness and knowledge among people about various
companies and their insurance products. People are beginning to look beyond LIC for
their insurance needs and are willing to trust private players with their hard earned
money.
People in general have been impression by the marketing and advertising campaigns of
insurance companies. A high penetration of print , radio and Television ad campaigns
over the years is beginning to have its impact now.
The general satisfaction levels among public with regards to policy and agents still
requires improvement. But therein lays the opportunity for a relative new comer like
ING. LIC has never been known for prompt service or customer oriented methods and
Reliance can build on these factors.
Page 56
Suggestion
According the survey only 42% people are insured in Dehradun so

reaming other part is potential for insurance sector.
Among that 42% people who having insurance, they have insurance 40%
for self 28%for spouse 21% for children and 18% for their parents and
11% for all family member, also its very help full for insurance sector so
they should take necessary step for capture this potential.
Only 42% people having insurance in Dehradun in that 42% there are
82 % people are under insured and other 18% people are fully insured
according to their income so that is also plus point for insurance sector to
capture the market
Page 57
BIBLIOGRAPHY
1.
BOOKS/MAGAZINES REFFERED:
STUDY
GUIDE-
PRINCILES
&
PRACTICES
OF
LIFE
GENERALINSURANCE, by AIMA.
Books published by INSURANCE INSTITUTE OF INDIA
LIFE-INSURANCE, by Mc GILL
Page 58
INSURANCEWATCH.
MONEYOUTLOOK.
2.
WEBSITES REFFERED:
WWW.PNBMETLIFE.CO.IN
WWW.CIFAINSURANCE.COM
WWW.MONEYOUTLOOK.COM
WWW.INSURANCE.IND.COM
3.
REPORTS/ARTICLES REFFERED:
REPORT: ISSUES & CHALLENGES FACING THE INSURANCE
INDUSTRY. Dec2005.
BRIEF PROFILE OF LIC, INDIADec 2006.
REPORT: COPING WITH COMPETITIONJan2007
Page 59
QUESTIONNAIRE
DATA GIVES
COMPANIES
PREFERENCE OF RESPONDENTS OF INSURANCE
COMPANYS NAME
NO.OF
RESPONDENT
SHARE (%)
PNB MET LIFE
78
78
LIC
ICICI PRUDENTIAL
10
10
SBI LIFE
HDFC
DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY ESPONDENTS

NO.OF
RESPONDENTS
SHARE (%)
Cover Future Uncertainty
55
55
Tax Deductions
20
20
Future Investment
25
25
BENEFITS
DATA PROVIDES FEATURES OF INSURANCE
POLICY THAT
ATTRACTED RESPONDENTS
FEATURE
Money Back Guarantee
Larger Risk Coverance
Easy Access to Agents
NO.OF
RESPONDENTS
15
37
SHARE (%)
15
37
7
Page 60
Low Premium
Companys Reputation
TOTAL
DATA
PROVIDES
30
11
100
NUMBER
OF
30
11
100
INSURANCE
POLICY
TYPE
RESPONDENTS
POLICY TYPE
NO. OF
RESPONDENTS
SHARE (%)
PNB METLIFE
75
75
NON LIFE POLICY
25
25
BOTH
45
45
DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCE

RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
A saving tool
81
81%
A tax saving device
74
74%
A tool to protect your family
100
100%
DATA SHOWS PEOPLES HAVING INSURANCE

RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Yes
70
70%
No
30
30%
Page 61
DATA SHOWS BUYING PROCESS OF THE PEOPLE

BUYING PROCESS
NO. OF
RESPONDENTS
SHARE (%)
Customer approached Insurance

company/Agent
45
45%
Company/agent approached
customer
55
555
Total
100
100%
DATA SHOWS REASONS BEHIND FOR INSURANCE

RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Tax saving
80
80%
Saving / Investment
80
80.%
Family protection
100
100%
DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO

POLICY
RESPONSE
NO. OF
RESPONDENTS
SHARE (%)
Page 62
Satisfied
60
60%
Not satisfied
40
40%
Not Responded
0.0%
100
100%
Total
Page 63

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A

SUMMER TRAINING REPORT

Submitted to Uttrakhand Technical University in

Study of Investor Behavior Toward PNB MET life Insurance

DOON BUSINESS SCHOOL, DEHRADUN

Study of Investor Behavior Toward PNB MET life Insurance

IVth Semester of the Masters Degree in Business Administration (Batch

He has completed his dissertation report entitled REAL ESTATE my

This project fulfils the requirement of the curriculum prescribed by this

Name of the Guide

Study of Investor Behavior Toward PNB MET life Insurance

Study of Investor Behavior Toward PNB MET life Insurance

volumes game. Therefore, private insurers would be best served by a middle-market

Study of Investor Behavior Toward PNB MET life Insurance

Study of Investor Behavior Toward PNB MET life Insurance

Study of Investor Behavior Toward PNB MET life Insurance

PRESENT SCENARIO - LIFE INSURANCE INDUSTRY IN INDIA

Study of Investor Behavior Toward PNB MET life Insurance

INTRODUCTION TO THE COMPANY

Name of organization (Full name, registered address, and website)

Study of Investor Behavior Toward PNB MET life Insurance

KEY EXECUTIVES - METLIFE INC (MET)

Board Members - METLIFE INC (MET)

Board Relationships Primary Company

178 RelationshipsMetropolitan Life Insurance Company

13 Relationships MetLife, Inc.

38 Relationships MetLife, Inc.

70 Relationships FirstLight Hydro Generating Company

157 RelationshipsCenterview Partners Management LLC

View All MET Board Members

EXECUTIVE COMMITTEES* - METLIFE INC (MET)

Alfred F. Kelly Jr.

Here are few highlights in our 140 years of history:

1868 Metropolitan Life Insurance Company is established

1912 In partnership with American Red Cross, transforms the corporate

Study of Investor Behavior Toward PNB MET life Insurance

1992 Establishes the first Latin American operation

The MetLife companies competitive positioning

#1 life insurer in the United States

MetLife, Inc.s financial highlights

$501.7 billion USD in total assets under

Vision and Values

Study of Investor Behavior Toward PNB MET life Insurance

"Coming into your own",

Operating with an intense

It's all about People,

Continuously creating and

Conducting all business

Study of Investor Behavior Toward PNB MET life Insurance

We are committed to maintaining the highest standards of integrity and professionalism

They want a trusting relationship with a financial professional.

Corporate Social Responsibility

Study of Investor Behavior Toward PNB MET life Insurance

ix. Product range in MetLife

Study of Investor Behavior Toward PNB MET life Insurance

Study of Investor Behavior Toward PNB MET life Insurance

Study of Investor Behavior Toward PNB MET life Insurance

4. Liquidity with Partial Withdrawals & Policy Loans