PROJECT REPORT

AT

Birla Sun Life Insurance, MUMBAI

ON

Agency Business Model

A Project Report submitted in partial fulfillment of the requirements

for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

(Industry Integrated)

TO

Madurai Kamaraj University, Madurai

By Deepak Kumar Samal

Reg No: A7753511

Under the guidance of

Mrs. SURBHI ROSHAN

INTERNATIONAL BUSINESS SCHOOL.

C.S.T MUMBAI

AUG 2008

1
 STUDENTS DECLARATION

I here by declare that the Project Report conducted at

Birla Sun Life Insurance, MUMBAI

Under the guidance of

Mrs. SURBHI ROSHAN

Submitted in partial fulfillment of the requirements

For the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

(Industry Integrated)

TO

Madurai Kamaraj University, Madurai

Is my original work and the same has not been submitted for the
award of any other Degree/diploma/fellowship or other similar titles
or prizes.

Place: Mumbai Deepak Kumar Samal

Date: Reg. No-

2
 CERTIFICATE

This is to certify that the Project Report at

Birla Sun Life Insurance, MUMBAI

Submitted in partial fulfillment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

(Industry Integrated)

TO

Madurai Kamaraj University, Madurai

Is a record of bonafide Training carried out by

DEEPAK KUMAR SAMAL

Under my supervision and guidance and that no part of this report has been

submitted for the award of any Degree/ diploma/fellowship or similar titles or

prizes.

FACULTY GUIDE

Signature:

Name: Mrs. SURBHI ROSHAN

Qualification: MBA Signature & seal of the Learning Center

3
 CERTIFICATE OF THE ORGANISATION

TO
The Training Officer,
National Institute of Applied Management.
121/B, 27th cross 7th block, jayanagar, Bangalore-560082

This is to certify that Mr/Ms___________________________________________

Of MBA cse of Madurai Kamaraj University, Madurai, at_____________

______________________________________________ Learning Center

has undergone industrial training at Organization from_____________

to __________________. His/Her performance during training period was

poor/ satisfactory/ good/ excellent.

Authorized Signatory

4
 ACKNOWLEDGEMENTS

At the outset, I would like to thank Birla Sun Life Insurance for giving me the
approval to do this Industrial training and preparing the project in the
organization. I am grateful to Mr. Jay Pathak Branch Sales Manager of Birla Sun
Life Insurance for the moral support, encagement and generous assistance.

I thank to Mr.Harshminder Sidhu for his encagement and contribution of time,

counsel and materials.

I thank my faculty guide Mr. M.S Moonga for coordinating the project work and
giving me the guidance. This project would not have been possible without his
help.

I am thankful to many individuals in the training Department of Birla Sun Life

Insurance for the encagement.

A heartfelt thanks to the many respondents surveyed whose ideas, critical insights
and suggestions have been invaluable in the preparation of this report.

Last but by no means the least I would like to convey my special thanks to all my
friends and colleagues at Birla Sun Life Insurance.

5
 CHAPTER 1 INTRODUCTION

1.1 General Introduction

1.2 Objective Of The Study

1.3 Industry Profile

a) Origin and development of the industry.

b) Growth and present status of the Industry.

c) Future of the industry.

CHAPTER 2 DISCUSSION ON TRAINING.

3.1 My Work Profile (Role and responsibility).

3.2 Description of live experience.

3.3 My contribution to Organization.

CHAPTER 3 STUDY OF SELECTED RESEARCH PROBLEM

4.1 Statement of research problem.

4.2 Statement of research objectives.

4.3 Research design and methodology.

4.4 Analysis of data.

6
CHAPTER 4 SUMMARY AND CONCLUSIONS.

5.1 Summary of Learning Experience.

5.2 Conclusion and Recommendations.

7
 OBJECTIVE OF THE STUDY

Main objective of the project is to find out the strategies of different insurance
agencies and evaluate them. Project is about to penetrate the competitors of
BIRLA SUN LIFE INSURANCES. Conclusion of this project can give an idea of
strategies of different companies which may be helpful to the company. Now days
all the insurance companies in India are trying to establish themselves in the
competitive market. They are introducing innovative marketing strategies to
survive in the market. Many other private companies are looking to enter in the
Indian insurance market .so it is very essential to a company to innovate their
marketing strategies in terms of
 Recruiting their advisors
 To make their advisors active
 Well educated and capable employee in the agency
 Marketing of their products
 Deployment of their products
 Targeting the right and potential customers
 Differentiating from other companies
 Future plan of the company

This study consists of to find out the marketing strategies of different

insurance companies which are the competitors of BIRLA SUN LIFE insurance.
This research requires the interview of branch managers of different insurance
companies and find out their branches are working in terms of above
mentioned factors.

8
Second Objective is:-

 To determine customers perception towards private insurance companies

and their expectation form private insurance companies.

 To determine the feedback on services provided by any other insurance

agent.

 To study the types of benefits provided by insurance services.

 To determine the use of Internet for valuable information and decision-

making process.

 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.

 To determine reasons behind opting for an insurance.

9
 INTRODUCTION TO THE INDUSTRY
THE HISTORY OF INDIAN INSURANCE INDUSTRY

Life Insurance

In 1818 the British established the first insurance company in India in Calcutta,

the Oriental Life Insurance Company. First attempts at regulation of the industry

were made with the introduction of the Indian Life Assurance Companies Act in

1912. A number of amendments to this Act were made until the Insurance Act

was drawn up in 1938. Noteworthy features in the Act were the power given to the

Government to collect statistical information about the insured and the high level

of protection the Act gave to the public through regulation and control. When the

Act was changed in 1950, this meant far reaching changes in the industry. The

extra requirements included a statutory requirement of a certain level of equity

capital, a ceiling on share holdings in such companies to prevent dominant

control (to protect the public from any adversarial policies from one single party),

10
stricter control on investments and, generally, much tighter control. In 1956, the

market contained 154 Indian and 16 foreign life insurance companies. Business

was heavily concentrated in urban areas and targeted the higher echelons of

society. “Unethical practices adopted by some of the players against the interests

of the consumers” then led the Indian government to nationalize the industry. In

September 1956, nationalization was completed, merging all these companies into

the so-called Life Insurance Corporation (LIC). It was felt that “nationalization has

lent the industry fairness, solidity, growth and reach.”

11
 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 people’s savings

for nation-building activities. LIC with its central office in Mumbai and seven

zonal offices at 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.

HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. is one of India’s 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.), India’s 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.

12
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.

ICICI Prudential Life Insurance Company Ltd.

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 bancassurance and 150 corporate agent tie-ups.

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.

13
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.

Birla Sun
Life
Insurance
pioneered
the
unique
Unit
Linked
Life
Insuranc
e
Solutions
in India.
Within 4 years of its launch, BSLI has cemented itsposition as a
leading player in the Private Life Insurance Industry.
There has been focus on Investment Linked Insurance Products,
supported with protection products to maintain leadership in
product innovation.
Multi Distribution Channels- Direct Sales Force, Alternate
Channels and Group offering convenient channels of purchase to
customers.
Web-enabled IT systems for superior customer services.
First to have issued policies over the Internet.
Corporate governance and a high degree of transparency in all
business practices and procedures.
First to have an operational Business Continuity Plan.
Strong fundamentals based on the Aditya Birla group's local
insight and Sun Life financials's global expertise.
 

14
 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.

15
 INTRODUCTION OF THE COMPANY

COMPANY PROFILE OF BIRLA SUN LIFE INSURANCE

Birla Sun Life Insurance Company Limited (BSLI) is a joint venture

between the Aditya Birla Group and the Sun Life Financial Services of
Canada. It started operations in March 2001 after receiving its
registration licence from IRDA in January2001.

BSLI’s core strategy since inception has been to ‘create value’ for all its
stakeholders. This has been driven through innovative and customer
focused products and a multi channel distribution capability in
individual and group insurance. The company started its operations
with the launch of innovative
unit-linked insurance products, being the first private life insurance
company in India to do so. The company has geared up through
superior value creation and technology in fulfilling its aims to provide
multiple products and benefits, greater investment opportunities and
to provide the vast investor populace in India with better liquidity and
security.

BOARD OF DIRECTOR

Mr. Kumar Mangalam Birla is Chairman of the US$ 28 billion Aditya

Birla Group and India’s first truly multinational corporation. An iconic
figure, Mr. Birla holds several key positions on various regulatory and
professional boards. He is a director of the Central Board of Directors
of the Reserve Bank of India and chairman of the Staff Sub-Committee
of the Central Board of the Reserve Bank of India. He serves on the
Prime Minister of India’s Advisory Council on Trade and Industry. He
is the chairman of the Board of Trade constituted by the Union
Minister of Commerce & Industry, also chairman of the Ministry of
Company Affairs’ Advisory Committee.

16
Organization structure and organization chart

Board of Directors

Mr. Kumar M. Birla

President & Chief Executive Officer

Mr. Vikram Mehmi

Chief Financial Officer

Mr. Mayank Bathwal

Chief Distribution Officer

Mr. Chander Chellani

Chief Operating Officer

Mr. Amitabh Verma

Chief Investment Officer

Mr. Vikram Kotak

Senior Vice President - Marketing & Communications

Ms. Anjana Grewal

Senior Vice President - Third Party Distribution

Mr. Amit Punchhi

17
Senior Vice President - Special Projects

Mr. Snehal Shah

Senior Vice President - DSF Expansion

Mr. Rajesh Bhojani

Vice President - Compliance

Mr. Lalit Vermani

Vice President – Strategy

Bhalachandra Nayak

Product of the organization

INSTITUTIONAL BUSINESS

Group life insurance, retirement & savings, group non-medical health

(e.g., short and long-term disability, long-term care, dental, accidental

Death & dismemberment, critical illness), group auto and home and

Pre-paid legal services plans.

INDIVIDUAL BUSINESS

Financial planning, life insurance, annuities, long-term care, disability,

and Investment products, such as mutual funds .

INTERNATIONAL

18
Life insurance, accident and health, annuities, retirement & savings

Protection Products

Birla Sun Life Insurance Term Plan

Birla Sun Life Insurance Premium Back Term Plan

Retirement Products

Birla Sun Life Insurance Flexi Secure Life Retirement Plan II

Children product
Birla Sun Life Insurance Children's Dream Plan

Multipurpose & Riders

Birla Sun Life Insurance Accidental Death Rider

Birla Sun Life Insurance Accidental Death and Dismemberment    Rider

Birla Sun Life Insurance Term Rider

Birla Sun Life Insurance Critical Illness Rider

Birla Sun Life Insurance Waiver of Premium

Birla Sun Life Insurance Critical Illness Plus Rider

Birla Sun Life Insurance Critical Illness - Woman Rider

Saving product

Birla Sun Life Insurance Gold-Plus II 

19
 Birla Sun Life Insurance Saral Jeevan Plan

Birla Sun Life Insurance Supreme-Life

Birla Sun Life Insurance Dream Plan

Birla Sun Life Insurance ClassicLife Premier

Birla Sun Life Insurance SimplyLife

Birla Sun Life Insurance PrimeLife Premier

Birla Sun Life Insurance PrimeLife

Birla Sun Life Insurance Flexi Cash Flow

Birla Sun Life Insurance Flexi Save Plus

Birla Sun Life Insurance Flexi Life Line

20
Top competitor of the Company in Market

21
Awards & Recognitions

BSLI was ranked 18th amongst the "TOP 25" in the "Great Places to Work -
2006 Survey"

It was ranked in the "TOP 25" best places to work for

among all industries in the "Grow Talent - Great Places to
Work".

BSLI was ranked as the 3rd amongst private life insurance companies  
in a survey done by the Cirrus & ORG Media survey.

22
GROUP COMPANY

23
BANK ASSURANCE PARTNERS

24
CORPORATE OBJECTIVE

At Birla Sun life Insurance, we strongly believe that as life is different at every

stage, life insurance must offer flexibility and choice to go with that stage. We are

fully prepared and committed to guide you on insurance products and services

through our well-trained advisors, backed by competent marketing and customer

services, in the best possible way.

“It is our aim to become one of the top private life insurance companies in India

and to become a cornerstone of BIRLA integrated financial services business in

India.”

25
BIRLA’s Vision

The most successful and admired life insurance company, which

means 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.

In short, The most obvious choice for all.

26
 DISCUSSION ON TRAINING

Student’s work profile (Role and responsibilities)

a) Students were posted there on the post of Unit Sales Manager. Their
role in the organization was new client acquisition for policy sales and
there responsibility is to find out that the particular client whose
policy has been opened should be getting all the service as he is
committed. Work profile
b) In Birla Sun life insurance Company I am working as a Unit Sales
Manager. My responsibility is that I am handling a Deutsche bank
visiting costumer and I have done a financial need analysis of the
customer/prospect and according to that I have to suggest the plan or
policy which is most suitable for him. And I am selling some more
products like Dream plan, Children Dream plan, and Gold plus –II

Description of live experience

 Experiencing the internal environment of the organization

 Visiting to clients for the purpose policy sales.
 Event organizing. To give the details of BSLI Policy.
 Solving queries of the client.
 Giving them all new tips of, new schemes etc.
 Be in touch with the existing client for purpose of quality
management.
 Giving product presentation to newly join employee.

27
Student contribution to organization

My contribution to the organization is adding values in order to bring

business to the organization. Realizing the responsibilities, bringing
potential client to the organization, not only for the purpose of policy
sales but also for wealth management services. To make the event
successful which are organized by company.

28
RESEARCH METHODOLOGY

29
 RESEARCH METHODOLOGY

TITLE:

To determine customer-buying behavior with a focus on market segmentation for

Birla Sun life Insurance.

 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 Birla Sun life

Insurance. 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.

30
Objective Two

 To determine customers perception towards private insurance companies and

their expectation form private insurance companies.

 To determine the feedback on services provided by any other insurance agent.

 To study the types of benefits provided by insurance services.

 To determine the use of Internet for valuable information and decision-making

process.

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 improving market. The study deals with Birla in focus and

the various segments that it caters to. The study then goes on to evaluate and

analyse the findings so as to present a clear picture of trends in the Insurance

sector.

SIGNIFICANCE TO THE INDUSTRY :

31
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 rapiddly changing and evolving sector. People are only beginning

to wake up to it’s vast possibilities. A study like this can attempt to guide the

future of the industry based on current trends.

SIGNIFICANE FOR THE RESEARCHER :

To facilitate and provide all the useful informtaion of the studt, the company, the

insurance industry and also provide marketing ways, methods of Birla Sun life

Insurance.

Methodology

Research is totally based on primary data. Secondary data can be used only for
the reference. Research has been done by primary data collection, and primary
data has been collected by meeting with the branch and agency manager of
different insurance agencies and branches in Mumbai. Data collection has been
done through by giving structured questioner. This study will be based on
judgment sampling and this research is skewed to organization level. This is an

32
exploratory type of research. And this research needs further study also Research
is a kind of pilot study.

Sampling
Sample size has been taken by judgment sampling. Judgment sampling is a
process in which the selection of a unit, from the population is based on the pre
judgment. This research requires the survey of different insurance agencies in
Mumbai city. So research concentrates on the branch or agency manager of
different insurance companies. So the selection of unit for this research has been
judged by the researcher. Sample size for this research is 27.

Limitations:
 Time limitation
 Research has been done only in Mumbai.
 Companies did not disclose their secrets data and strategies.
 Possibility of Error in data collection.
 Possibility of Error in analysis of data due to small sample size.

Sampling Unit:

33
The respondants 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 Mumbai due to time constraints.

Sampling Area :

The area of the research was Mumbai, India.

34
DATA ANALYSIS AND INTERPRETATION

35
 DATA ANALYSIS & INTERPRETATION

 DATA GIVES PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES

NO.OF
COMPANY’S NAME SHARE (%)
RESPONDENT

L.I.C. 78 78

REL 2 2

ICICI PRUDENTIAL 10 10

SBI LIFE 7 7

BIRLA SUN LIFE 3 3

TOTAL 100 100

3
7

10
LIC
2 REL
ICICI
SBI
BIRLA

78

36
INTERPRETATION

 78% of the people contacted prefer LIC policy to any other and therefore it is

ranked no.1 by that percent of respondents.

RECOMMENDATIONS

 As the people think that insurance is a tool to protect their family & a tax

saving device. They are aware of the fact & realizing its, importance. The

company should try to expand & build up its infrastructure because there is a

large potential for insurance in India.

 Company should come up with its branch in Mumbai. With the objective and

goals to meet the demands & expectations of the public. Because the entrance

of private players will increase the competition and it would be a tough task to

secure a good position in market.

 Since Birla Sun life Insurance is leading with several companies’ policies it

should be easy for them to penetrate into the market and secure a good

position if they pay greater attention to the service part provided to their

customer and thereby forming a long and trusted relationship.

37
 As seen from the survey that at present 70% of the customer are having

insurance policy out of which 87.5% of the customer are planning for new

investments. So it can be a good potential for the company and they should

make an attempt to trap these customers.

43% of the customer is even ready to go for insurance if a service provider away

from their home is providing it. But intend they should provide good products

and services. The company should try to convince these customers and get

them in its favor.

38
 CONCLUSION

Our exhaustive research in the field of Life Insurance threw up some intresting

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 impressioned 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 it’s impact now.

Another heartning trend was in terms of people viewing insurance as a tax saving

and investment instrument as much as a protective one. A very high number of

respondants have opted for insurance for such purposes and it shows how

insurance companies have been successful to attract public money in recent

times.

The general satisfaction levels among public with regards to policy and agents still

requires improvement. But therein lies the oppurtunity for a relative new comer

like Relaince. LIC has never been known for prompt service or customer oriented

methods and Birla can build on these factors.

39
Possibilities for insurance companies in India:

 Further deregulation of the market.

 Greater concern for the customers.

 Newer products and services.

 Competition and quality consciousness.

 Cost effective operations.

 Restructuring of the public sector.

 Consolidation of domestic insurance markets.

 Technology driven shift in product design.

 Actual operations and distribution.

 Convergence of financial services

40
 Effective marketing strategies

Now the Indian consumer is knowledgeable and sensitive. Consumers

are increasingly more aware and are actively managing their financial
affairs. People are increasingly looking not just at products, but at
integrated financial solutions that can offer stability of returns along
with total protection. In view of this, the insurance managers need to
understand more about the details that go into the introduction of
insurance products to make it attractive in this competitive market.
So now days an insurance manager requires leadership, commitment,
creativity, and flexibility. "Every family in every village in the country
should feel safe and secure". This vision alone will help to bring the
new ideas to the insurance manager.

Financial, marketing and human resource polices of the

corporations influence the unit mangers to make decisions.
Performance of insurance company depends on the effectiveness of
such policies. Insurance corporations formulate and revise these
policies from time to time to ensure that the performance of the
managers is best for the organization.
In the competitive market, insurance companies are being forced to
adopt a strictly professional approach in marketing. The insurance
companies face the challenge of changing the uninspiring public
image of the industry. Some of the important marketing elements are-

41
  Marketing mix.
 The importance of relationship.
 Positioning.
 Value addition.
 Segmentation.
 Branding.
 Insuring service quality.
 Effective pricing.
 Customer satisfaction research.

The growth of insurance sector is governed largely by factors external

to it. The following factors influence the market and demand of
product-
 Government policies.
 Growth in population.
 Changing age profile.
 Income wise distribution of the population.
 Level of insurance awareness.
 The pricing of the policies.
 The economic climate of the country.
 The aversion to risk.
 Social and political features of the country.
 Growth scenario in the world.

42
Different companies adopt different approaches in their marketing
strategies. One approach is focus upon product quality which can give
confidence in the mind of customers that they are offered by best
featured products. And other approach is focusing on customer’s
needs, which involve a heavy investment in developing relationships
with policyholders. Under this approach customer can expect a range
of products and service offered to him. Third approach is market
segmentation under which the population can be divided into several
homogeneous products and groups, the effort should be tie clients to
the company by customized combination of coverage, easy payment
plans, risk management advice, and convenient and quick claim
handling.

43
Recruitment of advisors:- In insurance industry advisors play
most important role, and these advisors are recruited through
different ways. Mainly four ways for recruiting the advisors are-
1. Through personal references.
2. Through advertisements.
3. Through walk in interviews.

4. Through placement agencies .

Recruitment_Personalreference

Respons
e Frequency Percent
Yes 24 88.9
No 3 11.1
Total 27 100.0

Recruitment_Advertisement

Respons
e Frequency Percent
Yes 10 37.0
No 17 63.0
Total 27 100.0

44
Recruitment_Interviews

Respons
e Frequency Percent
Yes 12 44.4
No 15 55.6
Total 27 100.0

Modeofinteraction_Onlinecontacts

Response Frequency Percent

Yes 1 3.7
No 26 96.3
Total 27 100.0

45
 APENDIX

QUESTIONNAIRES

1) What is the minimum premium for the products?

2) How long can I continue my policy, without paying premiums?

3) What is the term of premium payment?

4) How many is the minimum term?

5) What is the process for policy reinstatement?

6) Would interest be charged when I reinstate the policy?

7) What are tax benefits for regular premiums being paid?

8) Do I charge extra for paying premium after due date and how

much?

9) What would be the benefit for my family?

10) What is financial need analysis?

11) Should I take insurance for my new born child?

46
 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

 INSURANCEWATCH.

 MONEYOUTLOOK.

2. WEBSITES REFFERED:

 www.birlasunlife.com

 www.cifainsurance.com

 www.moneyoutlook.com

 www.insurance.ind.com

47