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ASSIGNMENT - 1
B.Com hons 3rd semester

NAME – Shruti Yadav

COURSE – BCOM HONS

ERP – 0211BCH055

SUBJECT – BANKING AND INSURANCE

COMPAIRING – LIFE INSURANCE COMPANIES

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Top 8 life insurance companies in India:

● Max Life.
● TATA AIA Life Insurance Company.
● HDFC Life.
● ICICI Prudential.
● Life Insurance Corporation of India.
● Reliance Life Insurance Company.
● SBI Life Insurance Company.
● Bharti AXA Life Insurance Company.

IMPACT OF COVID - 19
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The COVID-19 epidemic caused a significant shift in

customer perceptions of life insurance as well as insurance
companies' delivery methods. It altered the way Indian
businesses, especially the insurance industry, function. Even
for customers, the pandemic served as a reminder of the
significance of life insurance in difficult times.
Let's take a look at the four most significant changes in the
postpandemic life insurance industry.
1. Life insurance is considered an "essential commodity."
People value the protection and backup afforded by life
insurance products in difficult times as a result of the
pandemic's financial effect. The second half of the fiscal year
2020-21 showed a 16 percent increase in business premiums
year over year, with more consumers opting for single
premium coverage (as a protection against future loss of
incomes).
2. Perception of life insurance as a pure risk insurance
cover has shifted:
People are gravitating toward pure protection plans like term
life insurance rather than insurance-based plans like ULIPs,
which can be related to the psychological impact of the
COVID-19 epidemic. As more people want to get life
insurance, Term plans have been more popular because to
their low cost and ease of use.
3. Customers want more personalized and targeted
products:
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In the aftermath of the epidemic, customers want better life

insurance. Products, as well as customizable choices. Some of
the most important demands from a post-pandemic insurance
market include payment flexibility, innovative products,
online forms of transactions (contactless purchase and
renewal, and COVID-19 insurance advantages in current
policies).
4. Increased use of digital modes of transaction by
customers:
With a growing emphasis on social networking and
contactless transactions, more and more people are purchasing
and renewing life insurance online. As a result, insurance
firms are now offering digitally integrated omnichannel
systems and enhanced online capabilities.
As a buyer, you must resist 'panic-buying' and instead
concentrate on selecting the best goods. Find the finest term
insurance plan for your requirements by researching,
comparing, and deciding.

MORTALITY CLAIMS AVERAGE

SETTLEMENT PERIOD FOR 5 YEARS.
- TRADITIONAL CLAIMS IN LAST 5 YEARS.
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ULIP policy returns

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A Unit Linked Insurance Plan (ULIP) is a type of insurance that

combines the benefits of an investment plan and life insurance into a
single policy. It offers life insurance as well as stock market, debt, or
both market benefits. When your premium is invested for a lengthy
period of time, ULIPs are the most efficient. ULIPs include a number
of benefits and features that can help you save for the future, whether
it's for your child's school or marriage, retirement, or something else.
List of India's Top 10 ULIP Plans
In the Indian insurance industry, there are a variety of ULIP products
to choose from.
The optimal plan is typically determined by the individual's particular
requirements in terms of risk ap petite, future objectives, and
demands.

The table below is a list of the finest ULIP plans.

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Analysis of market share of Life

Insurance in terms of:
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Analysis of market share of Life Insurance

in terms of:
- % share in total premium

- % share in policies
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