Priyanka Khare Paert 1 Relic Main Conver Karna Hai 1-2

8/20/2019 Priyanka Khare Paert 1 Relic Main Conver Karna Hai 1-2

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Reliance Life InsuranceAnil Dhirubhai Ambani Group

INTRODUCTION

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of

the Reliance – Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s

leading private sector financial services companies and ran!s among the top "

private sector financial services and ban!ing companies in terms of net #orth.

Reliance Capital has interests in asset management and mutual funds stoc!

bro!ing life and general insurance proprietary investments private e$uity and

other activities in financial services.

Reliance Capital Limited %RCL& is a 'on()an!ing *inancial Company %')*C&

registered #ith the Reserve )an! of India under section +,(IA of the Reserve

)an! of India Act -"+.

Reliance Capital sees immense potential in the rapidly gro#ing financial

services sector in India and aims to become a dominant player in this industry

and offer fully integrated financial services.

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What is insurance

Insurers call this general insurance to differentiate it from life assurance. It is

natural to thin! of insurers of physical assets such as motor car insurance of fire

insurance but often #e forget that creator of all these assets is human being

#hose efforts have gone a long #ay in building up the assets. In that sense

human life is a uni$ue income generating assets. /nli!e the physical assets

#hich decrease in value #ith the passage of time the individual becomes more

e0perienced and more matured as he advanced in age. 1his raise his earning

capacity and the purpose of life insurance is to protect the income of individual

and provide financial security to his family #hich is dependent on his income

in the event of his premature death. 1he individual himself also needs financial

security for the old age or on his becoming permanently disabled #hen his

income #ill stop. Insurance also has an element of saving in certain cases.

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Classification of Insurance

/ncertainty in life is certain filled #ith trials and tribulations in every aspect of

life. 3rediction or estimation of #hat the future has in store for him is not

possible. Insurance is e0pected to aid in partially overcoming these vagaries of

life. Insurance can never replace or repair a loss. )ut the monetary value offered

by insurance helps in ad4usting to the ne# circumstances. Despite offering

innumerable options and immense scope insurance can be classified into four

main categories.

Insurance of 3erson

Insurance of 3roperty

Insurance of Interest

Insurance of Liability

Insurance of Person:

1he ris! associated #ith human life and health resulting from unplanned

contingencies could be covered under insurance up to the limit specified. In the

event of his death his dependants #ill be reimbursed to the full amount that he

#as insured for. 5r if the insured person meets #ith an accident or suffers from

an illness that cripples him forever he #ill be compensated #ith the complete

sum assured any#ay since he may not be able to lead a normal life again. In

case the accident is not that severe he should be able to recover after medical

treatment and rehabilitation. If he has opted for medical cover then his medical

e0penses treatment and medication #ill be paid for by his insurance policy.

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Insurance of Property:

6very individual #ould be an o#ner of tangible assets in the form of land

6state vehicles share holdings or plain paper money. 1he tangible assets are

associated #ith ris! of fire theft robbery etc. 1he life times’ achievements

mar!ed by these assets could be #ashes off #ithout a trace #ithin fraction of a

second. )ut if a person 4udiciously invests in insurance for his property prior to

any une0pected contingency then he #ill be suitably compensated for his loss as

soon as the e0tent of damage is ascertained.

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Insurance of Interest:

6very individual is bound to discharge certain duties maintain a certain

standard of conduct. )ut then it is an intrinsic part of human nature to err. 'o

one is infallible and no one #ill ever be. 1his trait may lead us to commission of

occasional error or omission leading to a loss for our clients or customers. As a

result #e might have to pay them damages or compensation out of our o#n

personal resources. )ut if our chosen profession $ualifies for insurance of

interest then our insurance policy #ill more than suffice in arranging for the

funds and court formalities that might ensue in the aftermath of legal libel.

Insurance of iability:

6very person has to regulate his actions and behaviour so as not to cause in4ury

or damage to other people and their property. 6veryone is personallyresponsible and liable for his actions. If due to lac! of control over his actions or

pre4udiced behaviour a person incurs any liability then he has to provide

compensation out of his personal resources. Liabilities7 legal civil or criminal

can have severe repercussions on social standing and prestige besides the

financial status. )y investing in liability insurance an individual can #ard off

any liabilities he might incur due to his actions and behaviour. )esides the

premiums payable on liability insurance are fairly minimal #hen compared to

the damages that have to be compensated in the long run.

ife Insurance ! In"ia

,


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ife Insurer in Public *ector

-. Life Insurance Corporation of India

ife Insurers in Pri+ate *ector

-. )a4a4 Allian8 Life

2. ICICI 3rudential Life Insurance

". >D*C ?tandard Life

+. )irla ?unlife

,. ?)I Life Insurance

9. @ota! 5ld :utual Life Insurance

. Aviva Life Insurance

=. Reliance Life Insurance – *ormarly !no#n as A:3 ?anmar LIC

. 1ata AIG Life-


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Funeral – Life Insurance proceeds can ensure that there is enough money for

proper funeral and burial e0penses.

Dept – 3ersonal bills credit card debt student loans and personal notes can be

covered by life insurance in the event of an individual’s death.

Mortgage Protection – 1he proceeds of a life insurance policy can pay off the

balance of a mortgage or provide an income stream to pay monthly mortgage or

rent payments.

Income Replacement – In the event of an individual’s death life insurance

proceeds can provide a supplemental income stream to ensure that the surviving

family members are able to maintain the same standard of living.

Education – Life insurance proceeds can ensure that the education costs of the

insured’s children are covered.

a!es – *ederal estate and state inheritance ta0es can be pre(funded using life

insurance to preserve the value of an estate.

Donations"#ifts – An individual can use a life insurance policy to fund adonation to a charity or leave a gift to a family member.

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,usiness Uses

$ey%person – A life insurance policy can be used to protect a business from the

loss of profits caused by the death of a !ey employee.

&usiness 'ontinuation – Life insurance can be used to fund a buysell

agreement or stoc! redemption plan to enable a partner or group of employees

to buy the business interest of a deceased partner.

&usiness (oans – Life insurance protection on a !ey employee or business

o#ner can be used pay off the debts of a business in the event of that

individual’s death.

Employee &enefits – Life insurance protection for employees is commonly

included in company employee benefits plans.


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Nee"s for ife Insurance

1emporary needs threats7 ( 1he original purpose of life Insurance

remains an important element namely providing the replacement of

income on death etc.

Regular saving7 ( 3roviding for one’s family and oneself as a medium to

long term e0ercise. 1his has become more relevant in recent times as

people see! financial independence from their family.

Investment7 ( 3ut simply the building up of saving #hile safeguard it

from ravages products are trationally lump sum investment #here the

individual ma!es a one time payment.

Retirement7 ( provision for one’s o#n later becomes increasingly

necessary especially in a changing cultural social environment one can

buy a suitable policy #hich #ill provide periodical payment in one old

age.

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,-N-.IT* .O$ I.- IN*URANC-

It is ?uperior to a traditional saving vehicle.

It encourages saving and forces thrift.

It provides easy settlement protection against creditors.

It can be encased facilities borro#ing.

1a0 Relief.

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RO- IN*URANC- IN -CONO$IC D-/-OP$-NT

*or economic development investment are necessary. Investments are made

out of saving a life Insurance Company is a ma4or instrument for the

mobili8ation of the saving of people. 1hese investments are channeled into

the investment for economics gro#th. Investments are made in the area li!e.

-. Road transport

2. ?etting up Industrial 6state

". Directly financing Industry

+. investment in corporate sector li!e

,. ?hare

9. Debentures

. 1erm Loan

1hese #ere the areas #hich directly affect the live of the people and their

economic #ell beings.

0-AD O..IC-

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Reliance ife Insurance Company i

Regd. 5ffice7 1he 1rape8ium mited *irst *loor

E" 'elson :anic!am Road Chennai – 9


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,ranch $ana2er

Reliance Life Insurance Company Limited

'o. -9(- Lo#er Ground *loor 'imrata Comple0 Ad4uscent. ;I:3H G.

1. Road alandhar alandhar 3un4ab – -++


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PR-$IU$ PA3ING OPTION*

1he life insurance policy o#ner may designate a specific settlement option to be

paid upon his or her death. If the policy o#ner does not choose a specific option

the beneficiary %s& #ill be given a number of choices 1hese usually include7

ump *um Payment: 1he death proceeds of a life insurance policy are paid to

the beneficiary %s& for a fi0ed period.

.i4e" Perio" Payments: 1he death proceeds of a life insurance policy are paid

to the beneficiary %s& for a fi0ed period.

ife Income 5ith Installments Certain: 1he death proceeds of a life insurance

policy are paid to the beneficiary %s& in installment payments through a certain

period. After the certain period payments #ill continue to be made throughout

the beneficiary’s lifetime but the payment may very from the payments during

the certain period.

Interest Payments) 1he death proceeds of a life insurance policy remain #ith the

insurance company and the company pays the beneficiary interest payments.

.i4e" Installments: 1he death proceeds of a life insurance policy are paid tothe beneficiary %s& in fi0ed installments until the proceeds and interest on the

unpaid balance of the proceeds are e0hausted.

*in2le Premium Annuity: 1he death proceeds of a life insurance policy are

used to purchase a single premium annuity from the insurance company.

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PRODUCT* O. R-IANC- I.- IN*URACN-

In"i+i"ual Plans

Reliance 6ndo#ment 3lan

Reliance ?pecial 6ndo#ment 3lan

Reliance Cash *lo# 3lan

Reliance Child 3lan

Reliance 1erm 3lan

Reliance ;hole Life 3lan

Reliance :ar!et Return 3lan

Reliance Golden Hears 3lan

-mployee ,enefit Plans

Reliance Group 1erm Assurance 3olicy

Reliance 6DLI ?cheme

Reliance Group Gratuity 3olicy

Reliance Group ?uperannuation 3olicy

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Reliance -n"o5ment Plan

Reliance Life Insurance’s Reliance 6ndo#ment 3lan is the !ey to all the

financial needs. It is an ine0pensive and easy #ay to protect you your family or

your business.

In a nutshell this plan #ill !eep you financially prepared for all the special

occasions in you life – your daughter’s #edding your child’s university

education or even a ne# office for your business – by eliminating the burden

that a shortage of money creates.

In the event of your untimely death Reliance 6ndo#ment plan #ill also assist

your loved ones through this difficult time by the financial support that it

provides.

Reliance 6ndo#ment 3lan also gives you the additional benefit of participating

in the company’s profits #hich you #ill receive at the end of the policy period.

*pecialty of Reliance -n"o5ment Plan

Reliance 6ndo#ment 3lan is an endo#ment plan #here you decide ho# much

you #ould li!e to set as your sum assured based on your current financial

position and your e0pected future e0penses. Hou also get to choose ho# long

you #ould li!e your policy to operate. 1hen all you need to do is pay your

single premium or regular premium for the policy term.

Hou may choose to pay your regular premiums yearly half(yearly $uarterly or

monthly for the policy term.

Wor6in2 of Reliance -n"o5ment Plan

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As soon as you pay your single premium or as long as you continue to pay your

regular premiums your policy #ill participate in the profits of our company.

1his means that each year #e #ill declare a bonus the amount of #hich may

very from one year to the ne0t. 1he cash value of the bonuses #hich you

accumulate over the policy term #ill be paid to you along #ith the basic sum

assured #hen it falls due.

-li2ibility

Any healthy male or female #ho has completed the age of , years and is not

older than 9, years can avail of this policy.

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Premium rebates for hi2h sum assure

3remium rebate is allo#ed on high sum assured policy

?um Assured 3remium Rebate per

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and is available only on policies #ith a basic sum assured of at least Rs.

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Cancer

Coronary artery by(pass graft surgery

>eart attac!

Aorta surgery

>eart valve replacement

@idney failure

?tro!e

:a4or organ transplant

Coma

Reliance *pecial -n"o5ment Plan

1his insurance policy is designed for people #ho #ish to combine savings #ith

e0tended security. 1he uni$ue feature of this policy is that life protection

continues for five years after you have stopped the payment of premium.

3ayment of sum assured at the end of period paying term and e0tension of life

cover thereafter for the full sum assured for a period of , years are

characteristics of the policy.

1his plan also participates in the profits.

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*pecial about this policy

1he special benefit under this policy is that it ensures securing a fund for the

future #hen it is most needed and gives much needed financial security for the

family.

1he uni$ue feature of this policy is that the ris! cover continues for the full sum

assured for an e0tended period of , years even after payment of the full sum

assured at the end of the premium paying term.

1his policy also participates in the profits. )onus is compounded yearly %i.e.

bonus declared in the previous year earns bonus in the ne0t year& and is payable

at the end of the policy term.

imitin2 Con"itions

1he minimum amount for #hich a Reliance ?pecial 6ndo#ment 3lan policy can

be ta!en is Rs. 2,


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If death ta!es place during the term #hen the premiums are still being paid the

full sum assured along #ith accrued bonus up to the date of death #ill be paid

immediately.

If death ta!es place after all the premiums have been paid an amount e$ual to

the sum assured under the policy along #ith accrued bonuses up to the date of

death #ill be paid immediately. 1his #ill be in addition to the sum assured

already paid at the time of completion of premium paying term.

Reliance Cash .lo5 Plan

1his insurance policy is designed for those #ho have a recurring need for

reinvestment in business or loo! for short(term investment channels. 1he

advantage of the policy is that they need not part #ith a si8able amount of

money at any one time but create through regular premium payments a periodic return of lump sums #hich become available for reinvestment at higher

returns #hile providing simultaneously substantial life cover.

Alternatively it can be used to meet any immediate financial crisis in the family

li!e your son’s college admission your daughter’s engagement renovation of

your home or perhaps a holiday abroad.

1he money is payable in installments. 1he first installment is paid at the end of

the +th year and thereafter at the end of every " rd year.

*pecial about this policy

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1he special benefit under this policy is that it ensures li$uidity through a

periodical return of a specified amount of money once in every " years. It

averts the necessity to loo! else#here for loan facilities.

A uni$ue feature of this policy is that the ris! cover continues for the full sum

assured even though the periodical payments are being made. 1his policy also

participates in the profits and is eligible for bonus.

-li2ibility for this policy

Any healthy male or female #ho has completed the age of -, and is not older

than 9" can avail of this policy.

imitin2 con"itions

Hes the minimum amount for #hich a Reliance Cash *lo# 3lan policy can beta!en is Rs. 2,


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*um assure" after payin2 the premiums for the full "uration of the policy

Hou receive the first payment at the end of the +th year and subse$uent payments

at intervals of " years. 1he entire vested bonus is paid along #ith the last

installment on the date of maturity of policy.

Anythin2 more77

Hes there is the usual e0emption from ta0 under section == premiums paid as

per the I1 Act -9-. 1he money you have invested earns interest and comes to

you in the form of terminal benefits and )onus #ithout the insecurities attached

to the ups and do#ns of the money mar!et.

All your policy benefits #hich you receive are e0empt from ta0 under

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A uni$ue feature of this policy is that the ris! cover continues for the full sum

assured even though the periodical payments are being made. 1his policy also

participates in the profits for the full term of the policy.

-li2ibility for this policy

Any healthy male or female #ith ade$uate income #ho has completed the age

of 2< and is not older than 9


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b& 1o !no# the Customer a#areness regarding the various life Insurance

Companies in the Insurance ?ector.

c& 1o !no# the Customer preference to#ards the private or public Insurance

?ector. 3eople comes to !no# about Reliance Life Insurance Company

through 3rint :edia.

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R-*-ARC0 $-T0ODOOG3

Intro"uction an" $eanin2

Research is a careful investigation or in$uiry especially through search for ne#

facts in branch of !no#ledge7 mar!et research specifies the information.

Re$uired to address these issues7 designs the method for collecting information7

manage and implements the data collection process analyses the results and

communicates the finding and the implications. Research problem is the one

#hich re$uires a researcher to find out the best solution for the given problem

that is to find out the course of action the action the ob4ectives can be obtained

optimally in the conte0t of a given environment.

Techni8ues

1he problem definition can be said to be the $uite essential part of the research

processJ as it determine precisely. ;hat the managerial problem is and the type

of information that the research can generate to help the problem before

conducting the field#or!. It is better to decide upon the methodtechni$ue of

data collection. Generally there are t#o techni$ue of data collection are7

-. Census 1echni$ue 2. ?ample 1echni$ue or Convenient sampling1he census method is costlier and more time Consuming as Compared to

sampling method but the result is near representatives.

R-*-ARC0 $-T0OD*

Research is literally every#here and !no#ing about research methods #ill help

us understand ho# #e came to !no# #hat #e accept as fact. ;e all !no# that +out of , dentists recommend sugarless gum for their patients #ho che# gum

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and that taste(tests sho# that )urger @ing’s Croissan#ich is preferred 2 to lover

:cDonald’s 6gg :c:uffin. ;e also !no# that proper nutrition is important for

children’s development and that heroin is addictive. 1he $uestion is7 >o# did

#e come to !no# these things K

;e learned about these things through research. ?omeone some#here did a

study and found each of the above findings. ;hile most of us accept the value

of good nutrition for children and the dangers of heroin at least some of us

%especially

Certs ?ugarless :int and 6gg :c:uffin fans& #ould $uibble #ith the other t#o

findings. ust ho# did the researchers do the studies that found those numbers

%by the #ay get in the habit of $uestioning ho# researchers find their even

those you agree #ith&K ;ho !no#s maybe they did the Croissan#ich study at

)urger @ing one morning and as!ed people #hich sand#ich they preferred. 1he

fact that the participants had already gone to )urger @ing for brea!fast meant

that they had at least some tolerance for Croisan#iches. ;hat about thedentists K

;hat percentage of them recommendedM candies of any !ind K ;hich dentists

participated in the study and #hat e0actly do they prefer about sugarless gum

over sugarless mints K

;hen #e as! $uestions li!e these #e are $uestioning the methods the

researchers employed in their studies. Research methods are a variety of

techni$ues that people use #hen studying a given phenomenon. 1hey are

planned scientific and value(neutral. ;hat that means is that good research

methods don’t 4ust happen.M Instead they are deliberately employed in a #ay

that is designed to ma0imi8e the accuracy of the results. Assume for e0ample

that you #ant to do a survey to Asses students’ level of satisfaction #ith the

par!ing situation on your campus. )ecause no one #ants to ta!e time to be

intervie#ed you are forced to start intervie#ing the people sitting in their cars

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#aiting for par!ing places. ?ince they’re bored any#ay and have nothing better

to do they agree to ans#er your $uestions. Lo and behold you find that all ,<

people you tal! to are B6RH unhappy about the lac! of par!ing spaces on

campus.

A better #ay for you to do your survey #ould be to randomly select names from

a list of all enrolled students %there #ill be more on random samples in a later

section&. Hou could as! them #hat they thin! about the par!ing situation.

)ecause your sample #as randomly selected you #ould e0pect their ans#ers to

reflect #hat students as a #hole felt about the par!ing situation. 1he use of

random samples is 4ust one #ay that researchers try to ensure that the ans#ers

they find are accurate.

Common errors ma"e in research

;hen #e do research #e can ma!e many errors. ?ome of them occur oftenenough to have names. >ere are nine common ones

• ?elective observation

• Inaccurate observation

*electi+e obser+ation

?elective observation happens #hen our attention is dra#n to ans#ers or

observations that confirm our pre(e0isting beliefs. It’s a lot li!e selective

hearing %i.e. #hen people especially children hear only the things they #ant to

hear&. *or e0ample if I hypothesi8e that blac!s are more li!ely than #hites to

speed I am probably li!ely to not the blan!s #ho are speeding #hile paying

less attention to speeding #hites and blac!s #ho are not speeding. A better approach to this study #ould be to #rite do#n the speed of every car going by

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and the race of the driver. I could then ma!e tables and compare the percentages

of speeding drivers of each race. Chances are that I’ll find that race isn’t related

to one’s li!elihood of speeding. A fe# #ays you can try to avoid selective

observation in your research are to do a literature

Revie# %so you’ll !no# #hich relationship other researchers found& decide

your research approach beforehand %e.g. #hen I decided above to #rite do#n

the speed of every car rather than 4ust depend on my memory& ta!e thorough

notes %to prevent biases from affecting you memory& #atch for disconfirm

1oryM information %such as speeding #hites and non(speeding blac!s& and

consider both sidesM of your study %i.e. try to argue against you hypothesisJ if

you can’t po!e holes in your theory then you’re more li!ely to be on the mar!&.

Hou could also use time or area sampling. 1ime or area sampling means that

you focus your attention on a smaller part of the action for a given amount of

time. Instead of trying to #atch the entire cro#d at a bas!etball game for

e0ample I could loo! at the rightmost four columns of people for ten minutesthen the ne0t four columns for ten minutes and so on. )y doing this I #ould be

able to get a picture of #hat the shole cro#d #as doing. And most importantly

for selective observation I #ould be forced to loo! at all parts of the cro#d at

some point time rather than 4ust those #ho #ere doing #hat I e0pected them to

do.

Inaccurate obser+ation

Inaccurate observation happens #hen #e misrememberM or misreport data.

>o# many times have you missed a $uestion on an e0am because you

incorrectly copied do#n something from lectureK 1hat’s one form of inaccurate

observation. Hou thought you correctly observed the information #hen you

really hadn’t done so. >ave you ever misunderstood #hat someone said and

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thought she said something that rhymed #ith hisher actual utterancesK 1hat’s

another form of inaccurate observation. Hour brain someho# miscoded the

information at the processing stage. Inability to remember #hat you sa# is

another form. Hour brain someho# 4umbles or changes the original memory

during the recall stage. 5bservations before actually doing it for real. 3ractice

#ill ma!e it easier to $uic!ly and accurately record or summari8e a given

situation and #ill sho# you the parts of the tas! about #hich you are less clear.

$etho"olo2y A"opte"

1he methodology adopted by me studding the ob4ectives #as surveying the

#or!ing segment in the city of Distt. @apurthala ?o !eeping in vie# the nature

of re$uirement of study to collect all the relevant information regarding the

privati8ation of the insurance sector direct personal intervie#’ method #ith

structured $uestionnaire method #as found to be the best for the collection of primary data. *or this a set of $uestionnaire #as designed for the #or!ing

segment. 1he survey #as conducted. Although this method #as difficult and

re$uired the researcher to visit and meet the respondents at different places and

at different times but had the advantage of higher accuracy.

?econdary data has been collected through the various maga8ines boo!s and by

surfing on Internet. And the guide in the organi8ation #as consulted at many

times.

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DATA ANA3*I*

@eeping in mind the ob4ectives of the study the survey #as being done and

follo#ing interpretation #ere being dra#n.

9 0a+e you hear" about Pri+ati;ation in ife Insurance *ector <

5b4ective 7( 1o !no# the a#areness of 3rivati8ation in insurance sector this

$uestion is as!ed. As there are a number of private insurance companies #hich

provide a variety of products and services as compared to nationali8ed

insurance companies.

A#areness of 3rivati8ation in Insurance sector

Interpretation

1he evident from above finding sho#ed that out of -


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5b4ective 7( 1o !no# the a#areness of customer regarding. Reliance life

insurance.

+.2 A#areness of Customer Regarding. Reliance life insurance.

Interpretation

1he above figure depicts that out of -


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Ob>ecti+e :? 1o !no# the media #hich helps in promotion of Reliance Life

Insurance. As #e !no# in the present era media plays an important role in

the promotion of companies.

@= Role of $e"ia in the Promotion of Reliance ife Insurance

Interpretation

According to above data 6lectronic :edia plays a vital role in the promotion

of Reliance Life Insurance. As ,9 of the respondents are a#are through

6lectronic :edia 2< through Agents -< through 3rint :edia and -+

through other li!e friends and relatives.

@ Do you thin6 ser+ices pro+i"e" by Pri+ate *ector 5ill be better than

Public *ector companies <

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Ob>ecti+e :? 1o !no# the priority given by customer to the private sector

over public sector. As #e !no# that more and more customers are moving

to#ards private sector because of better facilities and services provided by

private sector.

Priority of Pri+ate sector o+er the public sector

Interpretation

1he above figure depicts that 9= of the total respondents agree that private

sector #as providing better services as compared to the public sector.

Do you ha+e Insurance Policy <

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Ob>ecti+e :? 1o !no#n the number of customers dealing #ith different

insurance companies. As the there are a number of companies providing

different products.

@( No of customers "ealin2 5ith "ifferent insurance companies

Interpretation

1he above evident sho#s that out of the total respondents 92 dealing #ith LIC

#hich is a public sector insurance company -= respondents #ere dealing #ith

ICICI 3ru and >D*C ?td. Life respectively


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Ob>ecti+e :? 1o !no# the motive of buying insurance policy. 1here is al#ays

a reason to buy life insurance policy as it protects the insurer from different

aspects even after death.

Interpretation

As the above figure sho#ed that most of the respondents buy insurance policy

for the purpose of saving ta0 +2 respondents are in favour of this 22

respondents gave preference to secure investment "< and


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Ob>ecti+e :? 1o !no# the customer preference to buy insurance policy in

near future.

@ Preference to buy insurance policy in future

Interpretation

As the above figure depicts that mostly respondents are interested to buy

insurance policy in the future. +< of the total respondents are in favour of

this and rest +2 respondents #ant any insurance.

If you ha+e any plan to buy an Insurance Policy%

Which policy 5oul" you prefect<

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Ob>ecti+e: ? To !no#s the customer preference regarding various insurance

plans provided by the insurance companies.

@ Preference re2ar"in2 +arious insurance plans

Interpretation

As the above evident sho#s that as most as "2 of the total respondents prefer

to invest in endo#ment plan 29 prefer to have child plan 2+ prefer to ?pl.

6ndo#ment 3lan and rest -= cash flo# plan.

9'If you are not ta6in2 any insurance policy% please tell us the reasons

5hy<

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Ob>ecti+e: ? 1o !no# the reasons not to buy any insurance plan by the

respondents.

@9' Reasons not to buy any insurance plan

Interpretation

As the evident sho#s that as most as ", of the total respondents don’t

understand the #or!ing of the insurance system and nearly 2+ of the

respondents don’t see any benefit #ith the system -, and 29 of the

respondents don’t #ant insurance and could not afford respectively.

.INDING* O. T0- *TUD3

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a& Life insurance has becomes generic no#. 3eople believe in Life

Insurance Company only and therefore everybody #ants to go in for a

policy #ith LIC. It #ill ta!e a lot of time to private companies to #in

the confidence of the people.

b& As far as future decision ma!ing about the policy is concerned most of

the policy #ould go in for saving plan.

c& It is a service class #hich has ma0imum number of LIC and private

sector policies. As far as future decision(ma!ing is concerned most of

the service class prefers to protection plan

d& LIC is the oldest player in the Insurance mar!et so people are more

a#are of i.e. as compared to ne# players.

e& 1his clearly comes out of the survey conducted that most of the people

comes to !no# about Reliance life Insurance company through print

media.

f& It has clearly comes out that most of the people li!e to go in for a policy #hich gives them ta0.

I$ITATION* O. *TUD3

All efforts have been made to ma!e study a complete and comprehensive

survey of the customer perception. Although all efforts have been made so that

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the study present a true picture of the customers’ perception. 1he limitations of

the study are 7(

-& 1ime *actor 7(

1ime available #as very short.

2& *a!e Information’s 7(

1he information’s provided by the customers may be fa!e for

e0ample customer of Reliance Life Insurance may be sho#n interest

in ICICI 3rudential.

"& Limited ?urvey 7(

As the pro4ect #as limited to Ludhiana only therefore overall picture

can’t be presented.

+& Randomly ?urvey 7(

1he customers of LIC ICICI and R6LIA'C6 LI*6 I'?/RA'C6

#ere randomly selected #ithout any constrains.

,& Area 7( Area of study chosen #as not large.

CONCU*ION

Reliance Life insurance is one of the largest life insurance Companies in the

#orld #ith Insurance and Investment funds e0ceeding Rs. --


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insurance is a bless to the maintain #hich has a#a!ened many ne# hopes and

aspiration for human !ind a vision of a ne# 4ust e$uitable and fair global order

governed by a time tested value system based on a noble human passion of la#

compassion tolerance and mutual understanding.

Globali8ation has opened ne# formalities of technology !no#ledge

communication and information Reliance Life insurance is a gift of

globali8ation for the maintain development of these formalities there before is a

daunting challenge i.e. the utili8ation of these facilities to create a brave ne#

#orlds in #hich a $ualitative and a clear change bet#een yesterdays and

hormones can easily perceived.

I have done a detailed the comparative study of Reliance Life insurance

#ith LIC as #ell as other private companies and concluded that most of the

people proffered to deal #ith nationali8ation insurance companies.

About the a#areness regarding the products offered regarding by

Reliance Life insurance I conduced that most of the people are but they stillneeds more publicity among the citi8ens of the city.

Reliance Life insurance has set all the strategies and mission after proper vision

and is achieving the largest by #or!ing in co(operative and co(ordinate manner

and giving the people full services and facilities and ma!ing easy. ?o I #ould

li!e to conducted by saying that Reliance Life insurance is a #onderful gift

given to the man!ind in the ne# are for people development and maintenance of

the #orld as #ell as India.

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EU-*TIONNAIR-

-. >ave you heard about privati8ation in Life Insurance sector K

a& Hes b& 'o

2. >ave you heard about 3rivate Insurance Company Reliance Life

Insurance K

a& Hes b& 'o

". *rom #here did you come to !no# about Reliance Life Insurance K

a& 6lectronic :edia b& 3rint :edia

c& Agents d& 5thers

+. Do you thin! services provided by 3rivate sector #ill be better than

3ublic

?ector companies K

a& Hes b& 'o

If yes Remar!sNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN

If no ;hyNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN

,. Do you have Insurance 3olicy K

a& Hes b& 'o

9. ;ith #hich company do you have Insurance 3olicy K

. ;hat according to you are motives of buying Life Insurance 3olicy K

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a& 1a0 ?aving b& Life cover

c& Li$uidity d& ?ecure Investment

=. Do you have any plan to buy Insurance 3olicy in near future K

a& Hes b& 'o

. If you have any plan to buy an Insurance 3olicy #hich 3olicy #ould you

prefer K

a& ?aving 3lan b& 3rotection 3lan

c& 3ension 3lan d& Children’s 3lan

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b& Rs. ,

Priyanka Khare Paert 1 Relic Main Conver Karna Hai 1-2

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