DATA COLLECTION

The data has been collected from the secondary sources i.e. -- Fact sheets -- Annual Reports -- Offer Documents NAVs of selected schemes and closing values of S&P CNX 500 have been noted from www.amfindia.com and Mutual Fund Houses Personal Sites.

Respondent Profile: Respondent profile has been analyzed: Que. 1: - Awareness of HDFC Standard Life Insurance Company:S. No. Particulars Response

Print Media

24

Electronic Media

30

Agents

35

Others

11

40 35 30 25 20 15 10 5 0 Print Media Electronic Media Agents Others Series1

INTERPRETATION:-

In this chart, we can see that the agents play major role in awaring people about the HDFC-SLIC. Apart from this electronic media is also a source for awareness.

Respondents response about the awareness of the Insurance Companies

Que. 2: -What the people think about the Insurance

S. No. Particulars Response

Necessity for protection security

67

Imposition of a burden of expenses

17

A compulsory tool for tax saving

16

80 70 60 50 40 30 20 10 0 Security Expenses Tax Saving Series1

INTERPRETATION:-

On the basis of above analysis, we can say that people mostly treat insurance as a protection instrument. 67 people think insurance as a necessity for protection & security.

Que. 3: - Main consideration that a customer looks at while purchasing an Insurance Policy.

S. No.

Particulars

Response

TAX

10

SAVING

29

PROTECTION

53

PENSION

INVESTMENT

60 50 40 30 20 10 0 Series1

g Pr ot ec tio n

INTERPRETATION:-

On the basis of above analysis, we can say that people purchase insurance policy mostly for the protection purpose so use to purchase traditional palns.

on In ve st em nt

Ta x

Sa vin

Pe ns i

Que. 4: - What a respondent see while purchasing Insurance from the company?
S. No. Particulars %age

Standing and goodwill of the company

46

Product range of the company

Advertisement being released by the company

D E

Services being given by the company Returns of bonus declared by the company

18 26

50 45 40 35 30 25 20 15 10 5 0

Series1

en t

G oo dw ill

Pr od uc tR an g

Ad ve rti se m

Se rv i

Re tu rn

ce s

INTERPRETATION:-

On the basis of above analysis, we can say that people prefer the companies those have very highly goodwill in the market. And apart from this while purchasing they also use to give more weight age to return also.

Que. 5: -Plan that a respondent prefers to buy

S. No.

Particulars

%age

Protection Plan

47

Investment Plan

19

Pension Plan

10

Children Plan

24

50 45 40 35 30 25 20 15 10 5 0

Series1

Pr ot ec tio n

In ve st m

Pe ns i

INTERPRETATION:-

On the basis of above analysis, we can say that people prefer to buy protection & children plans mostly.

Ch i

ld re n

en t

on

Que. 6: - Customers expectations from Life Insurance Companies

S. No.

Particulars

%age

Innovative Products

Attractive Riders

Reasonable Premium

24

Better Customer Service

47

High Risk Coverage

22

50 45 40 35 30 25 20 15 10 5 0

Series1

In no va t iv e At tra ct ive

ce

iu m

Pr em

Se rv i

Ri s

INTERPRETATION:-

On the basis of above analysis, we can say that people expect better customer service from the insurance companies & reasonable premium on their investment.

Que. 7: - HDFC Standard Life Insurance Company provides better facilities than ICICI Prudential Life Insurance Company

S. No.

Particulars

%age

Yes

34

No

Cant say

64

70 60 50 40 Series1 30 20 10 0 Yes No Cant Say

INTERPETATION:-

On the basis of above analysis, we can say that people are not aware about these companies so we can not come on any conclusion.

Que. 8: -Is the respondent satisfied with the plan he bought?

S. No.

Particulars

Response

Yes

67

No

17

I havent bought any

16

80 70 60 50 40 30 20 10 0 Yes No Haven't Series1

INTERPETATION:-

On the basis of above analysis, we can say that people are satisfied with the plans they have bought.

FINDING
Agents play major role in awaring people about the benefits of insurance. People think insurance as a protection tool. People purchase insurance policy mostly for protection purpose and some of people for saving. The goodwill of the company also attracts customers toward a insurance company. People also take insurance policy as a security for their children.

CONCLUSION

On the basis of my study, I conclude that, both the companies are providing very good facilities to their customers. HDFC Standard Life Insurance is the one that is providing wavier of premium to its customer in case of death of the life assured, whereas ICICI is not providing this facility to its customers.

Both the companies have same lock in period i.e.3 years. Surrender charges of these companies are different from each other. On maturity, both the companies provide the amount equal to the market value of the units. Charges taken to manage the fund are different in both the companies.

SUGGESTIONS
Advertisement should be done on television and especially Posters and Banners. This will greatly help in raising awareness level. Insurance Companies should show more commitment with the customers. Private companies give better services to the customers as compared to public companies. The private company should create good relations and communication. Private companies should collaborate to spread awareness regarding the benefits of insurance plans provided by the Private Companies. Agents have got maximum influence on customers. They are the one who introduces the prospect to different policies. So agents should be given full-fledged training and the training should be strict.

BIBLIOGRAPHY

WEBSITES www.hdfcinsurance.com www.economictimes.com www.irdaindia.com www.bimaonline.com www.google.com

BROUCHERS HDFC Standard Life Insurance ICICI Prudential Life Insurance

QUESTIONAIRE (This information is for our internal use only, will not to be disclosed to any other organization/department)
Consumers Behavior towards various Investment and Insurance Products A- Study Name Telephone Occupation Marital status: Single/Married

Address Age

Q.1: How do you know about HDFC Standard Life Insurance Company?
Print Media Electronic Media Agents Others

Q.2: What do you think about insurance?

Necessity for protection security Imposition of a burden of expenses A compulsory tool for tax saving Q.3: Main consideration that you look at while purchasing an insurance policy. Tax Saving Protection Pension Investment

Q.4: What do you see while purchasing an insurance policy from the company?

Standing and goodwill of the company Product range of the company Advertisement being released by the company Services being given by the company Returns of bonus declared by the company

Q.5: Which plan would you like to buy?

Protection Plan Investment Plan Pension Plan Children Plan

Q.6: What do you expect from HDFC Standard Life Insurance Company? Innovative Products Attractive riders Reasonable premium Better Customer Service High risk coverage

Q.7: Do you think that HDFC Standard Life Insurance Company provides better facilities than ICICI prudential life insurance company? Yes No Q.8. Are you satisfied with the plan you bought? Yes No I havent bought any

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