ACKNOWLEDGEMENT
It was delightful learning experience to be associated with ICICI PRUDENTIAL LIF
E INNSURANCE COMPANY LIMITED. The 7 weeks spend at ICICI PRUDENTIAL LIFE INNSUR
ANCE COMPANY LIMITED, Mumbai, taught me many things which will be with me throug
hout my life.
It is the greatest pleasure and pride that I present the report before you. At t
his moment triumph it would be unfair to neglect all those who help me in the su
ccessful completion of this project.
First of all I would like to thank the Dean of SRM School of Management Dr Jaysh
ree Suresh(Dean) and my faculty guide Mr. R.Anath kumar (assistant professor) fo
r the help and guidance rendered for the completion of the project.
It is beyond words to express our immense gratitude to our project guide Manisha
Raja (agency manager) for the guidance and inspiration throughout this work. I
am also very much thankful to the employees of operation department for there c
o-operation .
Last but not the least I thank my family members & friends for there encourageme
nt and support.
TABLE OF CONTENTS
Sl. No Topic Page No.
1 Company Profile 1
2 EXCUTIVE SUMMARY 4
3 INTRODUCTION TO INSURANCE 8
4 INTRODUCTION TO ULIP 14
5 Research Methodology 18
6 PRODUCT POFILE 20
TRADITIONAL VS ULIP 42
DATA ANALYSIS & INTERPRATION 44
7 RESULTS AND FINDINGS 64
8 CONCLUSIONS 66
9 LIMITATIONS OF THE STUDY 67
10 SUGGESTIONS AND RECOMMENDATIONS 68
11 BIBLIOGRAPHY 70
12 APPENDIX 73
LIST OF TABLE
Sl. No. Table Page No.
1 Table 1 45
2 Table 2 47
3 Table 3 48
4 Table 4 49
5 Table 5 50
6 Table 6 51
7 Table 7 52
8 Table 8 53
9 Table 9 54
10 Table 10 55
11 Table 11 56
12 Table 12 57
13 Table 13 58
ICICI Prudential is a joint venture between ICICI Bank and PRUDENTIAL PLC engage
d in the business of life insurance in India. ICICI Prudential is the largest pr
ivate insurance company and second largest insurance in India after LIC. ICICI P
rudential Life Insurance Company is a joint venture between ICICI BANK, a premie
r financial powerhouse, and PRUDENTIAL PLC, a leading international financial se
rvices group headquartered in the United Kingdom. ICICI Prudential was amongst t
he first private sector insurance companies to begin operations in December 2000
after receiving approval from Insurance Regulatory Development Authority (IRDA)
.ICICI Prudential Life's capital stands at Rs. 37.72 billion (as on March, 2008)
with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For
the year ended March 31, 2008, the company garnered Retail New Business Weighted
premium of Rs. 6,684 crores, registering a growth of 68% over the last year and
has underwritten nearly 3 million retail policies during the period. The compan
y has assets held over Rs. 30,000 crore as on April 30; 2008.ICICI Prudential Li
fe is also the only private life insurer in India to receive a National Insurer
Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating
is the highest rating, and is a clear assurance of ICICI Prudential's ability to
meet its obligations to customers at the time of maturity or claims. For the pa
st seven years, ICICI Prudential Life has retained its leadership position in th
e life insurance industry with a wide range of flexible products that meet the n
eeds of the Indian customer at every step in life.
Since the liberalization of Indian Insurance sector, ICICI Prudential Life Insur
ance has been one of the earliest private players. Since the time, ICICI Pru Lif
e has been the leader in terms of market share as indicated by the IRDA (Insuran
ce Regulatory and Development Authority, the regulator for Indian Insurance Indu
stry) at its website.
Arguably the most innovative Indian Life insurer in terms of customer services a
nd products, ICICI Prudential has one of the largest distribution and servicing
network with over 2,000 proprietary offices & customer touch points across India
. The 30,000 employee strong organization has one of the largest agency distribu
tions in the industry.
With a growing product range to match the complex needs of the demanding custome
rs in a growing economy, the organization also has a history of successful.
During 2007-08, the organization's focus on rural business has proved its comple
x project execution capability and strong partnerships for customer servicing.
In June, 2009 ICICI Prudential Life Insurance has decided to snap its tie up wit
h TTK Healthcare to settle insurance claims of its users.
VISION & VALUES
VISION
To be the dominant Life, Health and Pensions player built on trust by world-clas
s people and service.
This we hope to achieve by:
• Understanding the needs of customers and offering them superior products and ser
vice
• Leveraging technology to service customers quickly, efficiently and conveniently
• Developing and implementing superior risk management and investment strategies t
o offer sustainable and stable returns to our policyholders
• Providing an enabling environment to foster growth and learning for our employee
s
• And above all, building transparency in all our dealings
The success of the company will be founded in its unflinching commitment to 5 co
re values -- Integrity, Customer First, Boundaryless, Ownership and Passion. Eac
h of the values describe what the company stands for, the qualities of our peopl
e and the way we work.
We do believe that we are on the threshold of an exciting new opportunity, where
we can play a significant role in redefining and reshaping the sector. Given th
e quality of our parentage and the commitment of our team, there are no limits t
o our growth
VALUES
Every member of the ICICI Prudential team is committed to 5 core values: Integri
ty, Customer First, Boundaryless, Ownership, and Passion. These values shine for
th in all we do, and have become the keystones of our success.
EXECUTIVE SUMMARY
Title of the project: Study ULIP in current market scenario/ study customer resp
onse towards ULIP.
Objectives:
• Working of the unit linked insurance plans
• Study tax planning solutions available in the market
• SWOT analysis of the product
Organization to be studied:
• Life insurance corporation
• Bajaj Allianz
• HDFC Stan Life
• ICICI Prudential Life Insurance
Research methodology: Primary data collected by personally visiting these leadin
g insurance players. Example: LIC, Max New York Life Insurance, HDFC Standard l
ife.
Data Collection:
• Primary data collected through Survey
• Sample size 50
• Secondary data collected through literature study.
OBJECTIVE OF THE STUDY
The project undertaken by me as a part of my MASTER OF BUSINESS ADMINISTRATION c
ourse is an effort made to study the ULIP policies and activities in BAJAJ ALLIA
NZ with special emphasis on unit linked products of the company.
The main objectives of this study are:
1. Working of Unit linked Insurance Plans
2. Study tax planning solutions available in the market
3. SWOT analysis of the product sold
4. To get an exposure in the real working environment in the insurance and
corporate sector.
5. To have a better understanding of the investment options available.
6. Meet the various life insurance needs of the community that would arise
in the changing social and economic environment.
SCOPE OF THE STUDY
1 The main scope is to aware the investors about the various Bajaj Allianz
ULIPs and help them to select the best plan as per their requirement
2 To study the consumer need according his portfolio and to analyze the ne
ed of ULIPs consumer.
3 To find out the best selling insurance products of this company.
4 To find out which product (if any) is not getting good response from cli
ents and why?
5 To find out the risks in investing a unit link insurance plan.
INSURANCE
Meaning of Insurance: -
Insurance in which the risk insured against is the death of a particular person,
the insured, upon whose death while the policy is in force, the insurance compa
ny agrees to pay a stated sum or income to the beneficiary.
Insurance on human lives including endowment benefits, additional benefits in ev
ent of death or dismemberment by accident or accidental means, additional benefi
ts for disability, and annuities.
Why Life Insurance?
Buying Insurance cannot be compared with any other form of investment. Insurance
gives one a life long benefit and the returns will definitely come but only whe
n one needs it the most i.e. at the right time.
Insurance is not about how much more it can offer you when the stock market is a
t its peak. It may not be an attractive investment option. But weigh the pros an
d cons and consider how much more it offers at a small price.
Most important of all it provides you with that unique sense of security that no
other form of investment provides. It gives you a sense of financial support es
pecially during that time of crisis irrespective of the fluctuations in the stoc
k market. Insurance provides for career goals right from childhood years.
If the earning member of the family is no more children’s educational needs will n
ot suffer. In fact his higher education too will be provided for. One need not s
pend sleepless nights thinking about how to save for his child s marriage. Life
Insurance will take care of that typical once-in-a-life-time spending on marriag
es.
An accident or a disability may be devastating but an insurance policy can be of
utmost support for the family during such times too. Besides it provides for ad
ditional benefits such as bonuses. One need not worry about your retirement year
s. The rising prices, taxes, and your lifestyle will be taken care of easily. An
d you can relax and spend your old age in comfort and peace.
People invest in life insurance owing to a few key reasons, mainly
• Insurance creates financial provisions for the deceased s dependants.
• Insurance provides for the policyholder s old age after his earning power dimini
shes. After all, interest rates may fall and invested holdings may lose value an
d stop gaining dividends, but the value of an insurance policy once set, never r
educes.
• Insurance also provide a legally authorized way to reduce the incidence of Incom
e Tax.
Insurance as an Investment
Agreed, insurance may not be the best place to invest your hard-earned money. Bu
t there are sufficient reasons for one to believe that it can be a highly lucrat
ive avenue to facilitate savings. People often talk about yield on investment an
d tend to compare their values with those available on various insurance schemes
. This is particularly typical within the Indian sub-continent where one conveni
ently forgets the element of risk covered by life insurance.
It is extremely unfair to compare the performance of insurance against other inv
estments without considering the core features of insurance. The very essence of
insurance is to protect your family from the uncertainty of your life. Hence it
proves very logical to evaluate the costs involved towards this feature.
One must accept that out of the total amount paid by one for his life insurance,
a certain amount is used for providing the risk cover and only the balance can
be utilized as savings. In other words, the total premium one pays minus the amo
unt evaluated, as the cost of insurance must be considered as the amount investe
d to get the maturity amount.
What does life insurance have to offer?
Life insurance is many different things to many different people. For some, it i
s a premium to be paid on time. For others it offers liquidity since cash can be
borrowed when needed. For the investment-minded, it denotes a constantly growin
g capital account and numerous other benefits.
Life insurance is nothing but the creation of capital funds on an installment ba
sis. Only here, the results are guaranteed. Life insurance is basically a proper
ty that is bought under a contract, accompanied by contractual guarantees that e
nsure large sums of money at the death of the insured.
The contractual guarantee is the promise to pay, backed by one of the oldest and
most stably regulated financial industry operating in the Indian sub-continent
today.
Insurance Buys Time and Money: People like to refer to life insurance as time in
surance, the reason being that life insurance proceeds are paid to the insured s
beneficiaries in case of death. The money proffered by life insurance helps buy
time to adjust to the change of circumstances. Insurance provides large amounts
of cash that will keep the lifestyle for the survivors the way it was before th
e insured s death.
Insurance Offers Peace of Mind: For the person who buys an insurance policy, it
offers absolute and complete peace of mind. He or she knows that the decision ma
de by him will provide sound benefits in the future, whether or not the individu
al may live to see it. The life insurance policy will subsequently prove this in
the future if and when funds are needed. This is the guarantee of the insurance
contract.
Multiple Applications: The future is uncertain for each and every one. No one kn
ows how long he or she will live. The investment benefit is paid to the insured
s beneficiaries after his death or it can be used during the life as well. Life
insurance policy owners can turn to the cash value of the policy in case of a fi
nancial emergency when all avenues are either blocked or denied. They know that
they can avail of loans based on their insurance policies.
Insurance policy owners can use the cash value of their policies to meet their l
ong-term financial needs as well. They may have purposefully invested in insuran
ce to use the cash in the policy for their children s future marriage expenses o
r higher education fees.
Enduring Elasticity: Since life insurance is flexible enough to serve several n
eeds, the insured can keep several long-term goals in mind once he or she invest
s in the insurance plan. The cash value of the policy can be allocated towards a
ugmenting the monthly income during the retirement years. Leisure years should b
e turned into pleasure years. Permanent life insurance is designed on the concep
ts of long-term flexibility.
Financial Security: The insurance policy offers contractual guarantees to people
looking for peace of mind when they buy life insurance. Life insurance offers c
omplete financial security. The purchase of life insurance demonstrates concern
for a family s future financial well being.
Regard for Family: The purchase of life insurance clearly displays care and conc
ern for the people the policy owner loves.
Insurance is Safer: No financial institution can do what life insurance does. No
industry can back its products with reserves and surplus as sound as those of t
he insurance industry.
The proof of strength and safety that insurance companies have ensured even unde
r the most adverse of conditions is a matter of pride for the entire insurance i
ndustry. For generation after generation, life insurance has been acclaimed as t
he very benchmark of security against which the other industries are measured.
• Investment Options
• Transparency
• Liquidity
• Tax planning
• Options to take additional cover against death due to accident
• Critical Illness
• Surgeries
Options to take additional cover against:
1. Death due to accident
2. Disability
3. Critical Illness
Fund of ULIP
Equity based funds
Money Market based funds
Debt Funds
Balanced Funds
Special Funds
UNIT-LINKED LIFE INSURANCE PRODUCTS
Unit-linked life insurance products are those where the benefits are expressed i
n terms of number of units and unit price. They can be viewed as a combination o
f insurance and mutual funds. The number of units, which the customer would get,
would depend on the unit price when he pays his premium. The daily unit price i
s based on the market value of the underlying assets (equities, bonds, governmen
t securities etc.) and computed from the net asset value
MERITS
1) Flexibility to choose your own level of protection (the sum assured)
2) Option to choose from a wide variety of investment fund to invest in (from
high risk to low risk fund depending on your risk profile). The investment part
of Traditional Insurance is control by insurer
DEMERITS
The premium is not guaranteed. In Malaysia, the annual premium we pay for invest
ment-linked insurance is call annual targeted premium . For example, if you pay
an annual premium Ringgit Malaysia 1,800 over the last few years, it does not m
ean you are paying the same amount from next year onwards.
b) The insurance charges is not guaranteed, for example, insurance charges for d
eath benefit, total & permanent disability benefit, etc. The insurance company h
as the right to increase the insurance charges.
RESEARCH METHODOLOGY
As the title of the project suggests the project is about the study of unit link
ed insurance plan in current market scenario so my objective in the market inter
face is to find the awareness about the Bajaj Allianz’s products in the current ma
rket.
MARKET RESEARCH DESIGN
Research Type: Descriptive research
Sources of data: Primary Data
Research method: Survey Method
Research instrument: Questionnaire
Sample size: 50.
SOURCES OF DATA
PRIMARY SOURCES
Data collected from the primary sources are personally interviewed.
Study Conducted.
SAMPLING PROCEDURE
The process employed for the sample was Random sampling. Random sampling is the
sampling in which every unit in the population has an equal opportunity of being
selected in the sample. The method is more representative of the population as
there are no personal biases.
METHODOLOGY
The survey is conducted among 50 respondents. The methodology is quite simple. T
he primary data collected through survey. The people are personally interviewed.
Then their responses are analyzed and interpreted and the final report is prepa
red.
Simple statistical tools have been used to in the study to analyze and interpret
the data collected from the field. The study has used percentile method and the
results are presented in the form of the Pie charts and Bar diagrams.
Insurance Plans
ICICI Prudential has a wide array of insurance plans that have been designed wit
h the philosophy that different individuals are bound to have differing insuranc
e needs.
The ideal insurance plan is one that addresses the exact insurance needs of the
individual that will depend on the age and life stage of the individual apart fr
om a host of other factors.
Life Insurance Plans:
Under Life insurance plans, ICICI Prudential offers plans under the following ma
jor need categories:
• Education Insurance Plans
• Wealth Creation Plans
• Protection Plans
Pension & Retirement Solutions:
The primary objective of a pension plan is to help you provide for your financia
l needs in your post retirement years. You will find a Pension Planning Calculat
or on the site, meant to make your pension plan review as simple as possible. Th
e calculator is the first step in your Pension Plan scheme, there are othe steps
towards getting the Indian pension policy you need.
Click here to know more about our pension plan solutions.
Plan Name
Plan Type
ICICI Pru Pinnacle
ICICI Pru LifeStage Wealth
ICICI Pru ACE
Unit Linked
Unit Linked
Unit Linked
Unit Linked
Unit Linked
Unit Linked
Protection Plans
The sole objective of these plans, as their name indicates, is to serve the prot
ection needs of the customer and by doing so, safeguard one’s family from the fina
ncial implications of unfortunate circumstances than one cannot foresee.
Under the Protection Plans platform, ICICI Prudential brings to you the followin
g products:
Plan Name
Plan Type
Pure Protect
LifeGuard
Save n Protect
CashBak
Home Assure
Traditional
Traditional
Traditional
Traditional
Traditional
Crisis Cover
Life is hectic in today s fast paced world. Along with the rapid pace and progre
ss comes the bane of modern life such as increased stress, poor diet and lack of
exercise. The alarming aspect is that, owing to these factors, more and more In
dians are becoming vulnerable to critical illnesses every year. These illnesses,
coupled with increasing costs of treatment, have made recovery a long and expen
sive process.
It goes without saying that securing your family s financial future is a part of
prudent financial planning. However, no less important is your health and well-
being, for which you need a comprehensive health coverage. And, given our lifest
yles, it should ideally be a plan that provides complete protection against Dise
ase, Disability and Death.
Keeping this need in mind, ICICI Prudential Life Insurance presents Crisis Cover
. This all-inclusive long term insurance policy provides coverage against 35 cri
tical illnesses, total and permanent disability, and also death.
So, get the right protection tailored to suit your lifestyle, with this plan whi
ch is
• Comprehensive
• Affordable
• Long Term
Graph No 1
Graph no 1
Interpretations
Do you make investments?
Investment No. Of Respondents Percent
Yes 40 80%
No 10 20%
Table No. 2 Investment
Graph 2
If yes, where do you make investment?
What steps do you suggested to the companies to make their ULIP plans more popul
ar?
Suggestion No. Of Respondents Percent
More Advertisements 10 20
Arrange more workshops 10 20
Arrange more seminars 15 30
Reduce charges 40 80
Create awareness through advisors 30 60
Table No. 13
Graph 11
SWOT ANALYSIS OF ULIP
STRENGTHS
1. Liquidity Benefit: There is no maturity date. Anytime after 3 premium-paying
years you can make partial or complete withdrawals at no charges.
2. Choosing investment portfolio
• Maximiser.
• Protector
• Balancer
• Preserver
3. Switching: Choice to switch between the various investment plan options, abso
lutely free, 4 times every year.
4. Top – Up: Invest surplus amounts. Top-ups will not have effect on the sum assur
ed.
5. Increase/Decrease sum assured.
6. Premium holiday: If premiums have been paid for at least 3 years and because
of some reason, premium cannot be paid, then the policy does not lapse; the cove
rage will be continued via adjusting the unit fund for the mortality premiums.
7. Flexible contribution: Contribution can be increased without any limits.
8. Additional allocation of units: As a policyholder one is provided with additi
onal allocation of units on periodic basis. These will depend upon the total val
ue of units of the policy
9. Loan against the policy: After the policy has acquired a surrender value one
can avail loan against the policy.
10. Rides: Choice of riders along with death benefits to give total protection – a
ll at a marginal cost
• Accident and Disability rider
• Critical Illness Rider
• Major Surgical Assistance Benefit Rider
WEAKNESSES
1. Policy does not acquire a surrender option before the end of third year of po
licy.
2. It has evolved a solution for policyholders, as most ULIP investors are not r
eally financially savvy.
3. High premium allocation charges: The premium allocation will be based on the
contribution limits. The yearly allocation would be as follows.
Contribution Range 1st year 2nd year 3rd year onwards
18,000 – 49,999 80% 92.5% 96%
50,000 and above 82% 92.5% 96%
4. Mortality charges are deducted based on um assured and age of life assured.
5. Plan do not offer any guarantee or assured return.
6. In case of partial withdrawals, one needs to maintain a minimum balance of Rs
. 10000 across all funds. In case the unit value is 9inadequate to cover charges
, the policy will terminate.
OPPORTUNITIES
1. Life insurance plans are eligible for tax deduction under Sec. 80C.
2. The proceeds or withdrawals of life insurance policies are exempted under Sec
10(10D), subject to norms prescribed in that section.
3. Large majority of Indian population still are not insured.
4. Equity markets have shown a good performance due to the strong inflow from FI
I and domestic funds through IPO’S in first quarter of year.
5. Finance minister unveiled a budget-favoring consumer spending, boosting deman
d and therefore higher economic growth.
6. Preserver fund looks good due to comfortable liquidity in the economy and the
re is little chance of any hike in short-term rates by RBI.
THREATS
1. The Unit value of the Units of this plan can go up or down depending on the f
actors and forces affecting the financial and debt markets from time to time and
may also be affected by changes in the general level of interest rates.
2. The investments in the Units are subject to market and other risks and there
can be no assurance that the objectives of the plan will be achieved.
3. Past performance of this plan is not indicative of the future performance of
the plan.
4. All benefits payable under the policy are subject to the tax laws and other f
inancial enactment, as they exist from time to time.
FINDINGS
CONCLUSION
1. LIC enjoys credibility over other private players in the industry
2. People look for tax rebate over security in market linked plans
3. Lifetime is the most popular product among the people who are aware abou
t ICICI PRU products.
4. People are now showing more interest in ULIP as compared to some of the
traditional plans.
5. ICICI PRU has to counter the distribution network of LIC
6. The product profile of ICICI PRU is not very comprehensive
LIMITATIONS
The results are not comprehensive and representative of entire Indian population
because of: -
1. The geographical area was very much limited to residential area & so the
results are not particularly reflection of the current behavior.
2. Biases and non-cooperation of the respondents.
3. Due to limited time period and constrained working hours for most of the
respondents, the answers at times were vague enough to be ignored.
4. Most of the people in India take their policies in the period preceding
March(for tax saving purposes) & so the response to initial contacts were not al
l encouraging and that has been the primary reason in the inability to quantify
the results large enough so as to deduce any relevant outcomes.
5. Most of the results that are spelt out have been of qualitative aspects.
RECOMMENDATIONS
1. The company should spend more on the promotional activities like adverti
sement in television, newspapers etc. to create more awareness of the products a
s they have more recall value.
2. Company needs greater awareness of its product among target audiences.
3. More business opportunity seminars should be conducted to make people aw
are of the offer.
4. Company should regularly send its advisors to customers so that they sho
uld be aware of latest offer.
5. Total financial awareness and advice should be given to every customer.
6. Company should open more of its branches so as to promote its product an
d increase its agency force.
7. Some guarantee should be given on its most popular product LifeTime.
8. Short-term capital guaranteed products should be introduced.
9. More emphasis should be given on Smart Kid, PremierLife and Capital guar
anteed products by the advisors.
BIBLIOGRAPHY
1) Kothari C.R (1998), Research Methodology, Method and Technique, Wishwa P
arkashan New Delhi.
2) Gupta M.P, Khanna R.B (2004), Quantitative Technique for Decision Making
, Prentice Hall of India Pvt. Ltd. New Delhi.
3) Kotler Philip (2000), Marketing Management, Prentice Hall of India Pvt.
Ltd. New Delhi.
4) ‘Marketing and Sales Management’ Business Management Club (2003), http://www
.bestbusinessinfo.com
5) Still, Cundiff, Govoni, Sales Management, Prentice Hall of India Pvt. Lt
d. New Delhi.
6) Business Associates Manual
7) World Wide Web Sites:- www.ICICIPRULIFE.COMM
APPENDIX
QUESTIONNAIRE
NAME____________________________ AGE_____
QUALIFICATION____________________ OCCUPATION________________
Q 1. What is your annual income?
a. Less than 150000 [ ]
b. 150001 – 300000 [ ]
c. 300001 – 1000000 [ ]
d. Above 1000001 [ ]
Q 2. Do you make investments?
a. Yes [ ]
b. No [ ]
Q 3. If yes, where do you make investment?
a. Bank deposits [ ]
b. Mutual Funds [ ]
c. Shares [ ]
d. Life insurance [ ]
e. Postal deposit schemes [ ]
f. Real estate [ ]
g. Precious metal [ ]
Q 4. What are the reasons to make investments?
a. Tax Saving [ ]
b. Return [ ]
c. Capital Appreciation [ ]
d. Secure investment [ ]
e. Life cover [ ]
f. Other [ ]
Q 5. Are you satisfied with your Investment?
a. Yes [ ]
b. No [ ]
Q 6. Have you heard about private insurance company ICICI prudential life?
a. Yes [ ]
b. No [ ]
Q 7. From where did you come to know about ICICI prudential life insurance?
a. Electronic media [ ]
b. print media [ ]
c. Seminar [ ]
d. Workshops [ ]
e. Advisor [ ]
f. Others [ ]
Q 8. Do u have Insurance policy?
a. Yes [ ]
b. No [ ]
Q 9. If yes, which company policy do you have?
a. ICICI Prudential [ ]
b. HDFC Standard [ ]
c. Bajaj Allianz [ ]
d. Birla Sun Life [ ]
e. LIC [ ]
f. Other ………………………………...
Q 10. If Yes, please specify: -
PLAN NAME: _______________________
a. Saving plan [ ]
b. Protection plan [ ]
c. Pension plan [ ]
d. Children’ s plan [ ]
Q 11. Which Plan is it
a. ULIP [ ]
b. Traditional Plan [ ]
Q 12. What are the reason for investment in ULIP
a. Life protection [ ]
b. Investment and Savings [ ]
c. Flexibility [ ]
d. Transparency [ ]
e. Liquidity [ ]
f. Tax planning [ ]
Q 13. How much return you are expecting from your ULIP?
a. 15-25% [ ]
b. 25-35% [ ]
c. 35-45% [ ]
d. ABOVE THAN [ ]
Q 14. Do you think ULIP is a risky investment?
a. Very risky [ ]
b. Less risky [ ]
c. Safe [ ]
d. Very safe [ ]
Q 15. Do you have any plan to buy ULIP plans in near future?
a. Yes [ ]
b. No [ ]
Q 16. If you are not taking any ULIP plans, please tell us the reasons why?
a. We couldn’t afford [ ]
b. We don’t see any benefit with the system. [ ]
c. We don’t want insurance. [ ]
d. We don’t understand how ULIP works. [ ]
e. We are not too much aware of ULIP plans. [ ]
Q 17. What do u think Which Plan Gives u Max Benefits?
a. Traditional Plan [ ]
b. ULIP [ ]
Q 18. What steps do you suggested to the companies to make their ULIP plans mo
re popular?
a. Give more advertisements. [ ]
b. Arrange more workshops. [ ]
c. Arrange more seminars [ ]
d. Reduce charges [ ]
e. Create awareness through advisors [ ]
f. Others_______________________.