5. zzzzzzzzz 5 CONTENTS 1. EXECUTIVE SUMMARY 2.

INTRODUCTION COMPANY PROFILE (6-

11) PRODUCTS OFFERED BY THE COMPANY (12-17) RETIREMENT (18-34) RETIREMENT PLANNING (35-39) 3. PROJECT OBJECTIVE (40-45) 4. APPENDICES-PENSION PLAN BAJAJ ALLIANZ LIFE INSURANCE (46-54) ICICI PRUDENTIAL LIFE INSURANCE (55-60) HDFC STANDARD LIFE INSURANCE (61-65) OM KOTAK MAHINDRA LIFE INSURANCE (66-68) MAX NEW YORK LIFE INSURANCE (69-71) ING VYSYA LIFE INSURANCE (72-75) TATA AIG LIFE INSURANCE (76-77) LIFE INSURANCE CORPORATION (78-79) STATE BANK OF INDIA (84-85) AVIVA LIFE INSURANCE (86-88) 5. RESEARCH METHEDOLOGY (89) 6. ANALYSIS AND INTERPRETATION (90-93) 7. SWOT ANALYSIS (94-96) 8. CONCLUSION (97-98) 9. RECOMMENDATION (99) 10. LIMITATIONS (100) 11. BI40.

zzzzzzzzz 40 OBJECTIVES OF THE RESEARCH STUDY The purpose of the project in the first place was to study the various pension plans provided by the different insurance companies. Further to study and compare the plans and bring out differences. Also to make a ready-reckoner of the same for the advisors and unit managers. The main objectives of the research study were as follows To gain an insight into the entire gamut of the pension market. This comparative study would help in assessing the product features of other pension providers and their strategy towards creating customers for the product This study would also helped in knowing the potential market for the product and also how to have a competitive edge over the other players in the market by stressing on to the The first step was to study allkey areas of the product. METHODOLOGY ADOPTED the insurance products being offered by BAJAJ ALLIANZ LIFE INSURANCE CO. LTD. Then data of other pension players was collected by personally visiting them and The next step was to draw results from thethen probing their pension plans. analysis of the information collected regarding the features of the product in A comparison was then made between the features of the product inthe market. Afterthe market and that offered by BAJAJ ALLIANZ LIFE INSURANCE CO. LTD. finding out the investors details, this data was then tabulated, analyzed and deductions were then made so as to know the investors psyche and the products and features which a investor looks for in a product. 40 41. zzzzzzzzz 41 RESEARCH DESIGN A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. The research design id the conceptual structure within which research is conducted; it constitutes the blue print for the collection, measurement and analysis of data. Types of Research Design 1. Exploratory Research Design- Also called formulative research study; the main purpose of such studies is that of formulating a problem for more precise investigation

or of developing the working hypotheses from an operational point of view. 2. Descriptive and diagnostic Research Design- Descriptive research studies are those studies which are concerned with describing the characteristics of a particular individual, or of a group, whereas diagnostic research studies determine the frequency with which something occurs or its association with something else. 3. Hypothesis-testing Research Design- These studies are those where the researcher tests the hypotheses of causal relationships between variables. In my study, I have used Exploratory Research Design. SAMPLING Sampling may be defined as the selection of some part of an aggregate or totality on the basis of which a judgment or inference about the aggregate or totality is made.. In other words, it is the process of obtaining information about an entire population by examining only a part of it. 41 42. zzzzzzzzz 42 Types of Sampling 1. Probability Sampling: - Also known as random sampling or chance sampling. Under this sampling design, every item of the universe has an equal chance of inclusion in the sample. 2. Non-Probability Sampling: - It is that sampling procedure which does not afford any basis for estimating the probability that each item in the population has of being included in the sample. In my study, I have taken a sample size of 250 and 50 respectively for my two surveys. DATA ANALYSIS Data is mainly of two types: 1. Primary data: - are those, which are collected a fresh and for the first time, and thus happen to be original in character. 2. Secondary Data: - are those which, have already been collected by someone else and which have already been passed through statistical process. In my study, data has been collected through questionnaires hence it is primary data. 42 QUESTIONNAIRE FOR INSURANCE SURVEY Name- Age- OccupationAddress- Phone no.- Q.1- Do u know that govt. of india has privatized life insurance industry? (a)yes (b)no Q.2- How many life insurance companies are in india? (a)17 (b)12 (c) 10 (d)can,t say Q.3- Do u know abt. BAJAJ ALLIANZ? (a)yes (b)no Q.4- How do u know abt the BAJAJ ALLIANZ ? (a)through media advertisements (b)through representative of BAJAJ ALLIANZ (c)through articles (d)other channels Q.5- Which company has the punch line (a) max new york life insurance (b)birla sunlife (c) icici pru (d)BAJAJ ALLLIANZ Q.6- Have u taken any life insurance cover for urself or for ur family? (a)yes (b)no Q.7- The no. of policies u have at this time (a) 1-5

(b)5-10 (c) more than that Q.8-What is the importance of insurance in your life? (a) safety (b)investment (c)tax saving (d)others 43 44. zzzzzzzzz 44 Q.9- How do u rate BAJAJ ALLIANZ vis--vis services offered? (a) excellent (b)good (c)average (d)poor Q.10-Do u think BAJAJ ALLIANZ needs more publicity in life insurance sector? (a)yes (b)no Q.11Which media according to you would put more impact on you? (a)television (b)radio (c)newspaper (d)BAJAJ ALLIANZ representative Q.12- Would u like to know more about any products and services of BAJAJ ALLIANZ? (a)yes (b)no Q.13- Do u know about the CAPITAL UNIT GAIN PLAN ( CUG) of BAJAJ ALLIANZ? (a) yes (b)no 44 BLOGRAPHY45. zzzzzzzzz 45 DATA ANALYSIS INSURANCE COAMPANIES In all there was 10 insurance companies' pension plans were studied, including BAJAJ ALLIANZ LIFE INSURANCE CO. LTD. COLLECTION OF DATA S. No. INSURANCE COMPANY 1. BAJAJ ALLIANZ LIFE INSURANCE 2. ICICI PRUDENTIAL LIFE INSURANCE 3. HDFC STANDARD LIFE INSURANCE 4. OM KATAK MAHINDRA LIFE INSURANCE 5. MAX NEW YORK LIFE INSURANCE 6. ING VYSYA LIFE INSURANCE 7. TATA AIG LIFE INSURANCE 8. LIFE INSURANCE CORPORATION 9. STATE BANK OF INDIA - LIFE (SBI LIFE) 10. AVIVA LIFE INSURANCE 45 LIMITATION OF THE STUDY This summer training will always remain one of the best experiences of my life. But no study is complete in itself , however good it may be and every study has some limitations , some of the limitations which I have confronted are as follows:- Companies were not ready to give address of their respective customers to conduct a survey. Time period for covering the project was short. It was a cumbersome task to get complete knowledge regarding PROMOTIONAL RIWARDS AND THEIR IMPACT ON PRODUCTIVITY IN BAJAJ ALLIANZ. BIBLIOGRAPHY Study Material of ALLIANZ BAJAJ Study Material of HDFC STANDARD LIFE Study Material of ICICI LIFE INSURANCE CO.LTD. Study Material of LIFE INSURANCE CORPORATION Study Material of BIRLA SUN LIFE Study material from PHILIP KOTLER Article from TIMES OF INDIA ,dated 23rd august 2006 Article from BUSINESS WORLD, dated 16 July 2006 WEBSITES www.allainzbajaj.com www.iciciprulife.com www.hdfcstandardlife.com www.icicibank.com www.bimaonline.com www.licindia.com

102. zzzzzzzzz 102 The decision has been made to invest in pension funds . . . enjoy a tension free tomorrow . . . 102

About Us
Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 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 Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE. As on 31st March 2010, Bajaj Allianz General Insurance maintained its premier position in the industry by achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 180 crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last four years. The profit after tax was Rs. 121 crores, 27% higher than the previous year. For more details on a summary of our financials, please click here. For a copy of our Annual Report 2009-2010, Please click here. Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune. Vision

Mission

To be the first choice insurer for customers To be the preferred employer for staff in the insurance industry To be the number one insurer for creating shareholder value

As a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money. A Partnership Based on Synergy Bajaj Allianz General Insurance offers technical excellence in all areas of General and Health Insurance as

well as Risk Management. This partnership successfully combines Bajaj Finserv's in-depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allianz Group. As a registered Indian Insurance Company and a capital base of Rs. 110 crores, the company is fully licensed to underwrite all lines of general insurance business including health insurance. Our Achievements Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's Investors Service, for Claims Paying ability. This rating indicates highest claims paying ability and a fundamentally strong position. Bajaj Allianz General Insurance has received the prestigious "Business Leader in General Insurance", award by NDTV Profit Business Leadership Awards 2008. The company was one of the top three finalists for the year 2007 and 2008 in the General Insurance Company of the Year award by Asia Insurance Review.