PROJECT REPORT

ON

IMPORTANCE OF LIFE INSURANCE

IN
INDIVIDUAL FINACIAL PLANNING
AT
BAJAJ CAPITAL BHUBANESWAR
SUBMITTED TO THE
INSTITUTE OF MANAGEMENT & INFORMATION
SCIENCE
IN PARTIAL FULFILLMENT OF
THE POST GRADUATE IN DIMPLOMA IN
MANAGEMENT

By
Name: JYOTI RANJAN SAHOO
Roll.No: 12DM089
Under The Guidance Of
Name of the External Guide
SAMBIT KUMAR MOHANTY
(Branch Manager)
Name of the Internal Guide
Prof.B.D.PANDA (Asst. professor)

INTERNAL GUIDE CERTIFICATE

Guide Name: Prof. B.D. Panda

Designation : Asst. professor.
This is to certify that the project report entitled IMPORTANCE OF LIFE
INSURANCE IN INDIVIDUAL FINACIAL PLANNING has been prepared
by Mr JYOTI RANJAN SAHOO Under my supervision and guidance, for the
fulfilment of Post graduate diploma in management . His field work is
satisfactory.

Signature of Faculty Guide

EXAMINER CERTIFICATE
This is to certify that this piece of work entitled IMPORTANCE OF LIFE
INSURANCE IN INDIVIDUAL FINACIAL PLANNING submitted on partial
fulfilment for degree of BBA is a record of studies and bonafied project work
carried out by Jyoti Ranjan Sahoo of PGDM 2012 TO 2014 of INSTITUTE OF
MANAGEMENT & INFORMATION SCIENCE.

I wish him/her all success in life

ACKNOWLEDGEMENT
It is really a great pleasure to have this opportunity to describe the feeling of
gratitude imprisoned in the core of my heart.
I convey my sincere gratitude to MR SAMBIT KUMAR MOHANTY
(BRANCH MANAGER) for giving me the opportunity to prepare my project
work in IMPORTANCE OF LIFE INSURANCE IN INDIVODUAL
FINACIAL PLANNING.I express my sincere thanks to all the staff
members of the BAJAJ CAPITAL
I am thankful to my internal guide Prof.B.D.PANDA for his guidance during
my project work and sparing her valuable time for the same.
I am thankful to Head of The Department Prof . S.BHUYA and other faculties
of my department.
I am also thankful to my family for their kind co-operation which made my
take easy.
.

Name: JYOTI RANJAN SAHOO

12DM089

ABOUT THE COMPANY

Introduction
Bajaj Capital has been helping people to realize their aspirations by making
their wealth grow, and planning their financial lives
1. Established in 1965
2. Bajaj Capital offers advice on
3. Investments,
4. Insurance,
5. Tax Saving,
6. Retirement Planning,
7. Future Planning for Children and etc.
8. Network of Bajaj Capital is 200 branches located all over the
country.
9.

8, 00,000 individual investors and over 3000 institutional clients.

10. SEBI-Approved Category I Merchant Bankers

Bajaj Capital has contributed to the growth of the Indian Capital Market at
every step. In 1965, we were the first to innovate the Companies Fixed Deposit.
Today, we are playing an active role in the growth of the Indian Mutual Fund
industry. We are also working closely with private insurance companies to
deepen India's insurance market.
1964
Bajaj Capital sets up its first Investment Centre in New Delhi to guide
individual investors on where, when and how to invest.
India's first Mutual Fund, Unit Trust of India (UTI) is incorporated in the same
year.
1965
Bajaj Capital is incorporated as a Company. In the same year, the company
introduces an innovative financial instrument the Company Fixed Deposit.

EIL Ltd. (Oberoi Hotels, then known as Associated Hotels of India Ltd.)
becomes the first company to raise resources through Company Fixed Deposits.

1966
Bajaj Capital expands its product range to include all UTI schemes and
Government saving schemes in addition to Company Fixed Deposits.
1969
Bajaj Capital manages its first Equity issue (through an associate company) of
Grauer & Wells India Ltd.; right from drafting the prospectus to marketing the
issue.
1975
Bajaj Capital starts offering 'need-based' investment advice to investors, which
would later be known as 'Financial Planning' in the investment world.
1981
SAIL becomes the first government company to accept deposits, followed by
IOC, BHEL, BPCL, HPCL and others; thus opening the floodgates for growth
of retail investment market in India.
Bajaj Capital plays an active role in all the schemes as 'Principal Brokers'
1986
Public Sector Undertakings (PSUs) begin making public issues of bonds
MTNL, NHPC, IRFC offer a series of Bond Issues. Bajaj Capital is among the
top ranks of resource mobilisers.
1987
SBI leads the launch of Public Sector Mutual Funds in India. Bajaj Capital plays
a significant role in fund mobilisation for all these players.
1991
SBI issues India Development Bonds for NRIs. Bajaj Capital becomes the top
mobiliser with collections of over US $20 million.
1993
The first private sector Mutual Fund Kothari Pioneer is launched, followed
by Birla and Alliance in the following years. Bajaj Capital plays an active role
and is ranked among the top mobilisers for all these schemes.
1995
IDBI and ICICI begin issuing their series of Bonds for retail investors. Bajaj
Capital is the co-manager in all these offerings and consistently ranks among
the top five mobilisers on an all-India basis.

1997
Private sector players lead the revival of Mutual Funds in India through Openended Debt schemes. Bajaj Capital consolidates its position as India's largest
retail distributor of Mutual Funds.
1999
Bajaj Capital begins marketing Life and General Insurance products of LIC and
GIC (through associate firms) in anticipation of opening up of the Insurance
Sector. Bajaj Capital achieves the milestone of becoming the top 'Pension
Scheme' seller in India and launches marketing of GIC's Health Insurance
schemes.
2000
Bajaj Capital implements its vision of being a 'One-stop Financial Supermarket.'
The Company offers all kinds of financial products, including the entire range
of investment and insurance products through its Investment Centres. Bajaj
Capital offers 'full-service merchant banking' including structuring,
management and marketing of Capital issues. Bajaj Capital reinvents 'Financial
Planning' in its international sense and upgrades its entire team of Investment
Experts into Financial Planners.
2002
The company focuses on creating investor awareness for Financial Planning and
need-based investing. To achieve this goal, the company introduced the
International College of Financial Planning. The graduates of this institute
become Certified Financial Planners (CFPs), a coveted professional
qualification.
2004
Bajaj Capital obtains the All India Insurance Broking Licence. Simultaneously,
a series of wealth creation seminars are launched all over the country, making
Bajaj Capital a household name.
2005
Bajaj Capital launches 360 Financial Planning, a software-based programme
aimed at encouraging scientific and holistic investing.
2007
Bajaj Capital launches Stock Broking and Depository(Demat) Services.
2008
Bajaj Capital launches Just Trade, an online Platform for investing in Equities,
Mutual Funds, IPO's

Mission Statement
Bajaj Capital aims to be the most useful, reliable and efficient provider of
Financial Services. It is our continuous endeavour to be a trustworthy advisor to
our clients, helping them achieve their financial goals.
Bajaj Capital
Parent Company

BCL group

Category

Brokerage Houses, Consumer Financial Services

Sector

Banking and Financial Services

Tagline/ Slogan

Always acting in your interest

USP

Vast experience in Financial Advisory

STP
Segment

Brokerage

Target Group

Urban and Rural Investors

Positioning

Complete Investment and Stock trading Solutions

SWOT Analysis
1. Diverse range of financial products
2. Known for transparent functioning
3. State of art I. T solutions for customers like just
trade
Strength

4. Has over 200 branches across states

1. Less penetration in rural areas

2. Lack of awareness due to Low publicity
Weakness

3. People with conservative mind-sets prefer gold

investment

Opportunity

1. Tapping the growing rural market opportunities

2. Earning Urban Youth looking for investment options

Threats

1. Stringent Economic measures by Government and

RBI
2. Entry of foreign finance firms in Indian Market

Competition
1. Share khan
2. IIFL
Competitors

3. India bulls

CHAPTER 1
INTRODUTION

FINACIAL PLANNING
Financial planning means to prepare the financial plan.
A financial plan is also called capital plan.
When making a financial plan, life insurance is an important consideration. This
is because life insurance protects your family from any outstanding financial
obligations you have when you die. If your spouse or children are dependent on
you for income, it also ensures that they will be taken care of.
Financial planning is the long-term process of wisely managing your finances
so you can achieve your goals and dreams, while at the same time negotiating
the financial barriers that inevitably arise in every stage of life.
financial planning is a process, not a product.
A financial plan is an estimate of the total capital requirements of the company.
It selects the most economical sources of finance. It also tells us how to use this
finance profitably. Financial plan gives a total picture of the future financial
activities of the company.
Financial Planning is an ongoing process to help you make sensible decisions
about money that can help you achieve your goals in life; it's not just about
buying products like a pension or an ISA.
It might involve putting appropriate wills in place to protect your family,
thinking about how your family will manage without your income should you
fall ill or die prematurely, spending money differently, but it involves thinking
about all of these things together i.e. your 'plan'. You can build a plan on your
own, or if your needs are more complex you might want the help of a Financial
Planner.
1. Create a sound financial plan in six steps
2. Establish your goals in life short, medium and long term
3. Work out what assets and liabilities you have write them down
4. Evaluate your current financial position how close are you to achieving
your goals

5. Develop your plan create a route map for achieving your different
goals
6. Implement your plan make the changes and make it happen
7. Monitor and review your plan at least yearly and make adjustments when
needed
Start by working out your goals in life, in the short, medium
and long term. Prioritise them, and think about the likely cost
of those goals and when you will need the money, so you can
start to plan your finances to work out how to achieve them.
Dont forget you also have to plan for some of the hurdles
you may have to overcome too. Its about getting organised;
being in control of your finances rather than letting your
finances control you.
By planning your finances to meet your goals you will
Have a much greater confidence of where you are going in life
Reduce your stress levels and start to enjoy life more
Gain control and peace of mind through knowing whether youre on track
for the future you want for you and your family
Financial planning is a systematic approach whereby the financial planner
helps the customer to maximize his existing financial resources by
utilizing financial tools to achieve his financial goals
Financial Planning is the process of estimating the capital required and
determining its competition. It is the process of framing financial policies in
relation to procurement, investment and administration of funds of an enterprise
Long-term profit planning aimed at generating greater return on assets, growth
in market share, and at solving foreseeable problems.
The process of determining a person's or firm's financial needs or goals for the
future and the means to achieve them. Financial planning involves deciding
what investments and activities would be most appropriate under both personal
and broader economic circumstances. All things being equal, short-term
financial planning involves less uncertainty than long-term financial planning
because, generally speaking, market trends are more easily predictable in the
short term. Likewise, short-term financial plans are more easily amendable in
case something goes wrong as a result of the short time frame.

A comprehensive evaluation of an investor's current and future financial state

by using currently known variables to predict future cash flows, asset values
and withdrawal plans.Most individuals work in conjunction with an investment
or tax professional and use current net worth, tax liabilities, asset allocation, and
future retirement

.
ROLE OF INSURANCE IN FINACIAL

PLANNING
Insurance is an important element of any sound financial plan. Different kinds
of insurance help protect us and our loved ones .
Different ways against the cost of accidents, illness, disability, and death.
Adding Up Your Insurance Needs
The insurance decisions you make should be based on your family, age, and
economic situation. There are many forms of insurance
and, unfortunately, no one-size-fits-all policy. Life insurance, for example, can
be a virtual necessity, especially if you have a spouse
and children. Disability insurance, which provides an income stream if you are
unable to work, is important for everyone.
Most people require some amount of all of these categories of insurance.
Auto Insurance: Shop Carefully, But Don't Underbuy
Auto insurance helps protect you from damage to the often-considerable
investment in a car and/or from liability for damage or injury
caused by you or someone driving your vehicle. It can also help cover expenses
you or anyone in your car may incur as a result of an
accident with an uninsured motorist.
Auto liability coverage is necessary for anyone who owns a car. Many states
require you to have liability insurance before you can
register a vehicle. State-required minimum coverage, however, is often too
skimpy to provide adequate protection. Of course, these
figures will vary depending on your individual situation and requirements.
Collision, fire, and theft coverage is also advisable for a
vehicle having more than minimal value. You can cut costs, however, by
choosing a higher deductible - the amount of loss that must
be exceeded before you are compensated.
The cost of auto insurance varies greatly, depending on the company and agent
offering it, your choice of coverage and deductible,
where you live, the kind of vehicle, and the ages of drivers in the family.
Substantial discounts are often available to safe drivers,
nonsmokers, and those who commute to work via public transportation.

Homeowners Insurance, For Renters And Owners

Homeowners insurance should allow you to rebuild and refurnish your home
after a catastrophe and help cover to costs of lawsuits if
someone is injured on your property. Coverage of at least 80% of your home's
replacement value, minus the value of land and
foundation, is necessary for you to be covered for the cost of repairs.
There are several grades of policies, ranging from HO-1 to HO-8, with
increasingly comprehensive coverage and cost. Unless you
increase coverage, most homeowners policies cover the contents of the house
for 50% to 75% of the amount for which the house is
insured. The liability coverage in many homeowners policies is $300,000. This
figure will vary depending on your individual situation
and requirements.
Liability Insurance: Protecting Your Assets
Often called umbrella liability coverage, this takes effect when the personal
liability and lawsuit coverage in other policies is
exhausted. The cost for $1 million worth of protection - especially necessary for
high-income individuals and those with considerable
assets - may be only a few hundred dollars a year.
Life Insurance: Your Needs Dictate the Kind And Level Of Protection
Life insurance, payable when you die, can provide a surviving spouse, children,
and other dependents the funds necessary to help
maintain their standards of living, can help repay debt, and can help fund
education tuition costs. The amount you need depends on
your situation. If you make $100,000 a year, have a sizable mortgage, and two
kids headed to a good (read: expensive) college, you
The Role of Insurance in Your Financial Plancould need as much as $1 million
in coverage.
Value-accumulating whole life or universal insurance is often offered as death
benefit protection with a cash value component that you
can borrow against or eventually cash in by surrendering the policy. Term
insurance costs less, but may remain in effect only for a
specified term of years. For many families, a combination of whole life and
term insurance may provide for current and future needs.
Your financial professional can help you assess your needs to determine the
kinds and amounts of life insurance that are right for
you and your family.
Disability Insurance: Important Protection If You Cannot Work
A long-term disability policy is activated, replacing a portion of your lost
income, when you are unable to work for an extended period.
Employers cover approximately 40% of all workers with some form of
company-paid disability insurance. If you buy it on your own,
you may have to pay up to 40 cents per $100 of monthly coverage.

If you're buying, you should generally try to get a noncancelable policy with
benefits for life, or at least to age 65, and as much salary
coverage as you can afford. Insurers will generally cover up to 65% of your
salary. Generally, you should have total coverage equal to
two-thirds of your current pre-tax income.
If your company provides disability insurance, check to see whether it's enough
for your needs. Group disability insurance policies
may be capped at six months and provide benefits that won't cover your
expenses.
Health Insurance: Available Through Your Employer Or Privately
Most people enjoy medical insurance as an employee benefit, often with their
employers paying all or part of the premiums. Many
employers offer a choice between HMOs (health maintenance organizations)
and traditional fee-for-service care. Rates for HMOs are
usually cheaper but have more constraints. Privately purchased health insurance
is much more expensive - often by several hundred
dollars a month - depending on such things as deductibles, coverage choices,
and location.
Long-Term Care Insurance: Don't Rely Solely On Government Programs
With an aging population and uncertainty about the future of Social Security,
insurance to cover the high cost of nursing home or athome
health care is the focus of increased concern. Medicare pays very little of the
cost of long-term care in the United States.
Medicaid will pay for the care, but only for patients who meet strict income
eligibility requirements. With Congress always debating
the future funding of these programs, financial planning for long-term care is
more crucial than ever.
So-called Medigap insurance can help pay medical expenses of the elderly not
covered by the Medicare system, including long-term
hospital care. But Medigap policies are expensive and complex. And, it doesn't
cover custodial nursing home costs. In fact, about
half of all nursing home residents pay for the care with personal savings,
according to Medicare.
Senior organizations, such as the AARP (formerly known as the American
Association of Retired Persons), can provide information
on long-term care insurance. Insurance policies contain exclusions, limitations,
reductions of benefits, and terms for keeping them in
force.
Because your financial professional understands your needs as well as the role
of the various kinds of insurance within an individual
financial picture, he or she can help you with the policies that are most
appropriate for you. Your financial professional can provide
you with costs and complete details.

Points To Remember
1. Your insurance needs will vary based on your family, age, and economic
situation.
2. Anyone who owns a car should have auto liability insurance. Collision, fire,
and theft can protect your investment in a valuable
car.
3. Homeowner's insurance should generally provide coverage up to 80% of the
cost of replacing your home, minus land and
foundation. Homeowners should also have liability coverage, and those with
considerable assets may want to purchase
liability up to $1 million.
4. Life insurance can be an especially important financial tool that has many
uses, the most important of which is protecting your
family.
5. Long-term care insurance may be a necessity for older people, because the
long-term coverage of Medicaid and Medicare is
often inadequate.
Because of the possibility of human or mechanical error by S&P Capital IQ
Financial Communications or its sources, neither S&P

TYPE OF INSURANCE
http://financialplan.about.com/od/insurance/a/insuredoneed.htm
http://typesofinsurance.org/
Health Insurance
One of the most important types of insurance to have is health insurance. Your
good health is what allows you to work and earn money and otherwise enjoy
life. If you were to come down with a sickness or have an accident without
health insurance you may find yourself unable to receive treatment or even in
debt to the hospital.
Thankfully, many employers provide health insurance benefits to full-time and
even some part-time employees. If you do not currently have health insurance
coverage this is the first place to check as it will generally be the most
affordable. If you are married, you may both be able to receive coverage under
just one of the employer plans.
If your employer does not offer health insurance or you are self-employed you
still need it. While it may not be cheap the fact remains; what do you have if
you dont have your health? Even a basic hospital bill without insurance can run
into the thousands of dollars. It isnt worth risking financial ruin to save a few
bucks on a health insurance premium.
Life Insurance
This type of policy is more important if you are married and/or have children.
Your life is valuable because it is what allows you to work and earn an income
to provide for your family. When you are gone you create an income gap which
could put your spouse or children in financial trouble.
There are two basic types of life insurance: term life and permanent life
insurance. Term life insurance provides basic death benefit protection.
Premiums are paid in exchange for a death benefit that is paid to your
beneficiaries when you die. Permanent life insurance is life insurance that

provides a death benefit and a cash reserve, called a cash value, that may be
used at any time during your life
Death is hard enough; dont make it even harder by putting your loved ones in a
financial jam if the unfortunate does happen. Funerals alone can be expensive
and it creates even more stress on the family. At the very least you should have
enough to cover basic funeral expenses and provide a cushion for your family,
and at most it should provide a stream of income for your family that can
replace what is now gone.
If you do not currently have life insurance your best bet is to check with your
employer first. Many employers offer a basic life insurance as a benefit and
some even allow you to purchase additional coverage at a very affordable rate.
Outside of employer plans there are hundreds of insurance companies that can
provide the right coverage for you.
Benefit
The benefit of life insurance is that your family gets the peace of mind of not
having to worry about where they will get the money to pay for financial debts
after you pass away. The death benefit, regardless of the type of insurance you
choose, pays out regardless. You will likely be able to purchase more death
benefit with a term life insurance policy for the same amount of premium when
compared to a permanent life insurance policy. However, the permanent life
insurance policy will remain in force for your entire life whereas the term policy
only lasts for a set number of years.
Property Insurance
One type of policy that for most people that is actually mandatory to have is
homeowners insurance when you have a mortgage. If you borrow money from
the bank to purchase a home they will require the asset to be insured. For many
people this insurance premium is built into the mortgage payment. For many
people their home is their greatest asset so it is vital to adequately protect it.
If you rent instead of own, a renters insurance policy is just as important. Your
belongings inside the dwelling can add up to a significant amount of money. In
the event of a burglary, fire or disaster you should be able to at least have a
policy that can cover most of the replacement costs.
Auto Insurance

Another type of policy that is often required is auto insurance. Most states
require by law that you have basic auto insurance. While it may be a law, too
many people still drive around without it.The most common reason to have auto
insurance is to cover the replacement of an expensive asset. Like a home,
automobiles can be quite expensive and if it gets damaged you want to be able
to repair or replace it. But there is more to auto insurance than just covering the
car itself.
Most automotive insurance policies cover bodily injury or death of another
person in an incident that you are legally responsible. While it generally pays
for medical expenses related to the incident it can also cover legal defense costs.
You will also generally find medical payment coverage that pays for medical
treatment for you and your passengers during an accident regardless of who was
at fault.
Credit Insurance
This type of insurance pays the role of the policy holder in case of any accident
of the policy holder or job loss or death.
Third Party Insurance
This type of insurance cover damage caused by you first party to other third
party.

TYPE OF LIFE INSURANCE

1. Term Insurance Policy
2. Whole Life Policy
3. Endowment Policy
4. Money Back Policy
5. ULIPs
6. Annuities and Pension
Term Insurance Policy
A term insurance policy is a pure risk cover policy that protects the person
insured for a specific period of time. In such type of a life insurance policy, a
fixed sum of money called the sum assured is paid to the beneficiaries (family)
if the policyholder expires within the policy term. For instance, if a person buys
a Rs 2 lakh policy for 15 years, his family is entitled to the sum of Rs 2 lakh if
he dies within that 15-year period.
If the policy holder survives the 15-year period, the premiums paid are not
returned back. The advantage, apart from the financial security for an
individuals family is that the premiums paid are exempt from tax.
These insurance policies are designed to provide 100 per cent risk cover and
hence they do not have any additional charges other than the basic ones. This
makes premiums paid under such life insurance policies the lowest in the life
insurance category.
Whole Life Policy
A whole life policy covers a policyholder against death, throughout his life
term. The advantage that an individual gets when he / she opts for a whole life
policy is that the validity of this life insurance policy is not defined and hence

the individual enjoys the life cover throughout his or her life.Under this life
insurance policy, the policyholder pays regular premiums until his death, upon
which the corpus is paid to the family. The policy does not expire till the time
any unfortunate event occurs with the individual.
Increasingly, whole life policies are being combined with other insurance
products to address a variety of needs such as retirement planning, etc.
Premiums paid under the whole life policies are tax exempt.
Endowment Policy
Combining risk cover with financial savings, endowment policies are among the
popular life insurance policies.
Policy holders benefit in two ways from a pure endowment insurance policy. In
case of death during the tenure, the beneficiary gets the sum assured. If the
individual survives the policy tenure, he gets back the premiums paid with other
investment returns and benefits like bonuses.
In addition to the basic policy, insurers offer various benefits such as double
endowment and marriage/ education endowment plans.
The concept of providing the customers with better returns has been gaining
importance in recent times. Hence, insurance companies have been coming out
with new and better ULIP versions of endowment policies. Under such life
insurance policies the customers are also provided with an option of investing
their premiums into the markets, depending on their risk appetite, using various
fund options provided by the insurer, these life insurance policies help the
customer profit from rising markets.
The premiums paid and the returns accumulated through pure endowment
policies and their ULIP variants are tax exempt
Money Back Policy
This life insurance policy is favored by many people because it gives periodic
payments during the term of policy. In other words, a portion of the sum assured
is paid out at regular intervals. If the policy holder survives the term, he gets the
balance sum assured.

In case of death during the policy term, the beneficiary gets the full sum
assured. New ULIP versions of money back policies are also being offered by
various life insurers.
The premiums paid and the returns accumulated though a money back policy or
its ULIP variants are tax exempt.
ULIPs
ULIPs are market-linked life insurance products that provide a combination of
life cover and wealth creation options.
A part of the amount that people invest in a ULIP goes toward providing life
cover, while the rest is invested in the equity and debt instruments for
maximizing returns. .
ULIPs provide the flexibility of choosing from a variety of fund options
depending on the customers risk appetite. One can opt from aggressive funds
(invested largely in the equity market with the objective of high capital
appreciation) to conservative funds (invested in debt markets, cash, bank
deposits and other instruments, with the aim of preserving capital while
providing steady returns).
ULIPs can be useful for achieving various long-term financial goals such as
planning for retirement, childs education, marriage etc.

Annuities and Pension

In these types of life insurance policies, the insurer agrees to pay the insured a
stipulated sum of money periodically. The purpose of an annuity is to protect
against financial risks as well as provide money in the form of pension at
regular intervals

RESULT
1.Occupation
Govt.sector

Pvt sector
80

Entrepreneu
r
40
50

others
30

2.INCOME
less than 20000

20000 to 50000
65

55

50000 to
1lakh

1lakh above
60

20

3. Are you availing Life Insurance policy?

YES

NO
161

39

4. For how many years you are into the Life Insurance?
less than 1 year

1 year to 2
2year to above
year
49
74
38

5. From which financial institution are you availing the policy?

ICICI PRIDENTIAL
35

KOTAK LIFE
INSURANCE

LIC
29

6.Which policy do you are availing?

SBI LIFE
OTHER
INSURANCE
49
36
12

TERM POLICY

CHILD PLAN

ENDOWNME ULIP
NT
22
52

27

Whole Life
Policy
19

Annuities and
Pension
25

7.How much amount of Life Insurance premium you are availing?

LESS THAN
10000

10000 TO
50000
59

50000 TO 1 1LAKH AND ABOVE

LAKH
63
26
13

8.Rate your overall satisfaction level with the scheme?

EXCELLENT

GOOD

AVERGE

BELOW

VERY BAD

16

45

AVERAG
E
36
2

78

9.Are you satisfied with the services you are getting from your present

Life Insurance institution:YES

NO
159

QUESTIONNAIRE
Dear Sir/Madam
I am a trainee at Bajaj Capital Master Canteen Branch, Bhubaneswar and presently doing a
project on Importance of Life Insurance in Individual Financial Planning. I request you to
kindly fill the questionnaire below and I assure you that the data generated shall be kept
confidential and only be used for my educational purpose.
Name:Gender:Occupation:Annual Income:No. of member in your home:Total members incoming in your home:1. Are you availing Life Insurance policy:-

Yes
Reason:-

No

2. For how many years you are into the Life Insurance:

Less than1year

1 year to 2year

2year and above

3. From which financial institution are you availing the policy?
ICICI PRUDENTIAL

KOTAK LIFE INSURANCE

LIC

SBI LIFE INSURANCE

Others please specify:-

4. Which policy do you are availing?

Term policy
Child Plan

Endowment
ULIP

Whole Life Policy

Annuities and Pension

Others please specify:-

Which product do you are availing from this policy?

5. How much amount of Life Insurance premium you are availing?

Less than10000

10000 to 50000

50000 to 1Lakh

1 Lakh and above

6. How much amount of sum assured are you availing?

7. Are you satisfied with the services you are getting from your present Life Insurance
institution:Yes

No

8. Rate your overall satisfaction level with the scheme?

Excellent

Good

Average

below Average

Very bad

9. Are you availing any product and service from BAJAJ CAPITAL:Yes

No

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METHODOLOGY

1. Descriptive Research

Descriptive research is used to obtain information concerning the current status

of the phenomena to describe what exists with respect to variables or
conditions in a situation. Descriptive research, also known as statistical
research, describes data & characteristics about the population or the
phenomenon being studied. Descriptive research answer the question who,
what, when, & how. Although the data description is factual, accurate &
systematic, the research cannot describe what caused a situation.

2. Analytical Research
Analytical research takes descriptive research one stage further by seeking to
explain the reason behind a particular occurrence by discovering causal
relationships. Once causal relationships have been discovered, the search then
shifts to factors that can be changed (variables) in order to influence the chain of
causality.

3. Data Collection
Both Primary as well as Secondary data has been collected. Primary data are the
data which is primarily important and fulfils only used for researcher purpose
and it is the original data. This is the kind of data that should be collected first.
In this project I have collected primary data through conducting a survey of all
the automobile dealers in Bhubaneswar. Secondary data is the kind of data that
supports the researcher and is secondarily important and has been previously
collected also everybody can access this type of data. I have taken this data
from different websites, Circulars and documents of the organization.

BIBILOGRAPHY

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http://www.businessdictionary.com/definition/financial-planning.html
http://www.businessdictionary.com/definition/financialplanning.html#ixzz2Y3zTyXxf
http://financialplan.about.com/od/insurance/a/insuredoneed.htm

http://typesofinsurance.org/
www.axa-equitable.com/life-insurance/plan/your-financial-plan.html
www.fpanet.org/WhatisFinancialPlanning
: http://www.ehow.com/info_7748491_objective-financial-planning-life-

insurance.html#ixzz2YKrMvLfa
http://www.ehow.com/info_7748491_objective-financial-planning-lifeinsurance.html#ixzz2YKqwBkHn