A PROJECT REPORT ON

INVESTOR SATISFACTION WITH REGARDS TO INVESTMENT WITH SBI LIFE INSURANCE

SUBMITTED TO

UTKAL UNIVERSITY

IN PARTIAL FULLFILLMENT OF THE

BACHELORE IN BUSINESS ADMINISTRATION

BY
PRACHI NAYAK (2011-2014)
ROLL NO. 56355UT11029

UNDER THE GUIDANCE OF

Mr. Chandan Mohalick Senior Agency Manager Mrs. Rashmi Ranjita Dash Asst. Prof. Marketing

Institute of entrepreneurship Development (An Institute of Industries Department, Govt. of Odisha)

Mancheswar industrial estate ,bHUBANESWAR ,ODISHA

CERTIFICATE
Guide Name: Mrs. Rashmi Ranjita Dash Designation : Assistant Professor

This is to certify that the project report entitled Investor Satisfaction with regard to investment with SBI Life Insurance has been prepared by Mr. Prachi Nayak under my supervision and guidance for the fulfillment of Bachelor in Business Administration. His field work is satisfactory.

Signature of HOD

Signature of Internal guide

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. Chandan Mohalick for giving me the opportunity to prepare my project work in 31 days. I express my sincere thanks to all members of SBI Life Insurance. I am thankful to Mrs. Rashmi Ranjita Dash for his guidance during my project work and sparing her valuable time for the same. I am thankful to the Head of The Department Mr. B. B. Mishra and Other faculties of my department. I am also thankful to my family for their kind co-operation which made my take easy.

Prachi Nayak Roll No.56355UT11029

DECLARATION
I do hereby declare that this project work entitled Investor Satisfaction With Regards to investment submitted by me for the partial fulfillment of the requirement for the award of Bachelor In Business Administration(BBA) is a record of my own research work . The report embodies the finding based on my study and observation and has not been submitted earlier for the award of any degree or diploma to any Institute or University

Date:

Prachi Nayak Roll

No.56355UT11029

EXAMINER CERTIFICATE

This is to certificate that this piece of work entitled

Investors satisfaction

with regards to investment in SBI LIFE INSURANCE submitted on partial fulfilment for degree of BBA is a record of studies and confide project work carried out by Prachi Nayak (Roll No.56355UT11029), student of BBA program 2011-2014 of INSTITUTE OF ENTREPRENEURSHIP DEVELOPMENT, Bhubaneswar.

INTERNAL EXAMINER

EXTERNAL EXAMINER

PREFACE

I had undergone a project in SBI LIFE INSURANCE Bhubaneswar, as a partial fulfillment of Bachelor Of Business Adminstration. The project assigned to me is investment. Investor satisfaction with regards to

The successful completion of this project was a unique experience for me because by visiting many places and interacting with various people, I achieved a better knowledge about sales. The experience which I gained by doing this project was essential at this turning point of my career. This project is being submitted which contains detailed analysis of the research undertaken by me. During the survey I got a chance to know what the customers think about the stock market and online trading, how they perceive when a salesman tells him/her about any schemes related to stock marketing, what are their queries about it?

CONTENTS

TOPIC

PAGE NO.

Front page Certificate of Summer Training Internal guide certificate Acknowledgement Declaration Examiner certificate Preface

i ii iii iv v vi vii

Chapter 1
Introduction Objective Scope Limitation Insurance Role of Life Insurance About SBI Life Insurance 1 2 5 10 15 16 17

Chapter 2 Theoretical framework

2.1Marketing 2.2 consumer behavior 4 Ps of Marketing 18 19 20

2.3 consumer satisfaction 2.4 consumer relationship management 2.5 consumer decision making process

22 23 24

Chapter 3
3.1 Company profile Money Back 26 26

Chapter 4
Product 4.1 Life Long Pension 4.2 EDU Shield 4.3 Scholar II 4.4 Sudarshan - An Endowment Policy 4.5 Setubandhan 30 30 33 35 36 37

Chapter 5
5.1 My Study 38

Chapter 6
6.1 Research methodology 6.2 Research Methodology Process 6.3 Type of Data Primary data Secondary data 45 41 42 44

6.4 Sampling methodology

Chapter 7
7.1 News Report 7.2 Survey Report and Analysis 46 47

Chapter 8
8.1 Findings 8.2 Conclusion 48 49

Bibliography Appendix

Chapter - 1

INTRODUCTION

We live in a risky world. Forces, largely outside our control, that

makes threats our financial well being, constantly surround us. Thus, some of us will experience the premature and dreadful death of a beloved family member; others will experience the loss or destruction of their property from natural disasters. Still others will experience poor health from cancer, heart attacks, and other diseases. In addition, some of us will be totally and permanently disabled from a crippling automobile accident or a catastrophic illness. Finally, others will experience the traumatic effects of a liability lawsuit. They're all built into the working of the Universe, waiting to happen. Therefore Risk is pervasive conditions of human existence. It has a simple

meaning in every day usage but sometime it has a specialized connotation when used in particular fields.

Definition of Risk
Risk is defined as "a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for". Thus risk is a combination of circumstances, and in this combination there is possibility of loss. An adverse even is possible and it has a probability from a zero to one. This it is neither possible nor definite. We may or may not be able to measure the degree of risk but the probability of the adverse outcome must be between zero and one. The undesirable even is known as deviation. A pure & perfect technique for handling risk is by insurance. For most individuals, this is the most practical method for handling a major risk.

First, risk transfer is used since a pure risk is transferred to the insurer. Second, the pooling technique is used to spread the losses of the few over the entire group so that average loss is substituted for actual loss. Finally, the risk may be reduced by application of the law of large numbers, whereby an insurer can predict future loss experience with some accuracy .

INSURANCE
The insurance is related to the protection of the economic value of assets. Every asset has a value. The asset would have been created through the efforts of the owner, in the expectation that, either through the income generated there from or some other output, some of his needs would be met. In the case of a motorcar, it provides

comfort and convenience in transportation. There is no direct income. There is a normally expected lifetime for the asset during which time it is expected to perform. The owner, aware of this, can so manage his affairs that by the end of that lifetime, a substitute is made available to ensure that the value or income is not lost. However, if the asset gets lost earlier, being destroyed or made non-functional, through an accident or other unfortunate event, the owner and those deriving benefits there from suffer. Insurance is a mechanism that helps to reduce such adverse consequences. Insurance is a
contract

between two parties - the insurer (the

insurance company) and the insured (the person or entity seeking the cover) - wherein the insurer agrees to pay the insured for financial

losses arising out of any unforeseen events in return for a regular payment of "premium". These unforeseen events are defined as "risk" and that is why insurance is called a risk cover. Hence, insurance is essentially the means to financially compensate for losses that life throws at people - corporate and otherwise. Insurance Companies are active in the field of Life, Health & General Insurance. The major part of insurance business is life insurance, the operation of which depends on the law of the morality.

Why Insurance?
The entire effort of human life is to proceed from uncertainty to certainty. The rigmarole of life proceeds with first acquiring the

wherewithal to earn a living and then striving for its betterment and ensuring that the comfort and pleasure derived from a physical commodity or a human being continues. It is at the latter stage that the mechanism of insurance comes in play. The concept of insurance is in essence related to the protection of the economic value of assets. Every asset whether physical or in form of a human being has a value. The asset is built up in the expectation that, either through the income generated there from or some other output, some needs of the individual would be met. For example, In the

case of an industry its production is sold and income generated. In the case of a vehicle, it provides comfort and convenience in transportation. However there is a normally expected life cycle for every asset during which time it is expected to perform its assigned role. So, a prudent individual can manage his affairs so that by the end of that life cycle, a substitute is in place to ensure continued benefit/comfort. However, if due to an accident or other unfortunate event, the asset gets destroyed or made non- functional earlier, the person deriving benefits therefore suffer. Insurance is the mechanism that helps to soften the impact of such adverse

consequences by providing for some monetary substitution to face such unforeseen circumstance. The need of insurance arises from the chances of an accidental occurrence destroying or making an asset non-functional. Such loss producing eventualities are called perils e.g. fire, floods, breakdowns, lightning, earthquakes, etc however, it has to be remembered that what is being talked about is only a probability of a loss. The protection of Insurance is against a contingency that may or may not happen.

Life Insurance

Life Insurance is a contract between person and a life insurance company, which provides your beneficiary with a pre-determined amount in case of your death during the contract term. Buying insurance is extremely useful if you are the principal earning member in the family. In case of your unfortunate premature demise, your family can remain financially secure because of the life insurance policy that you have purchased. The primary purpose of life insurance is therefore protection of the family in the event of death. Today, insurance is also seen as a tool to plan effectively for your future years, your retirement, and for your children's future needs. Today, the market offers insurance plans that

not just cover your life and but at the same time grow your wealth too.

5 ROLE OF LIFE INSURANCE

Role 1: Life insurance as "Investment"

Insurance is an attractive option for investment. While most people recognize the risk hedging and tax saving potential of insurance, many are not aware of its advantages as an investment option as well. Insurance products yield more compared to regular investment options, and this is besides the added incentives (read bonuses) offered by insurers.

You cannot compare an insurance product with other investment schemes for the simple reason that it offers financial protection from risks, something that is missing in non-insurance products. In fact, the premium you pay for an insurance policy is an investment against risk. Thus, before comparing with other schemes, you must accept that a part of the total amount invested in life insurance goes towards providing for the risk cover, while the rest is used for savings. In life insurance, unlike non-life products, you get maturity benefits on survival at the end of the term. In other words, if you take a life insurance policy for 20 years and survive the term, the amount invested as premium in the policy will come back to you with added returns. In the unfortunate event of death within the tenure

of the policy, the family of the deceased will receive the sum assured. Now, let us compare insurance as an investment options. If you invest Rs 10,000 in PPF, your money grows to Rs 10,950 at 9.5 per cent interest over a year. But in this case, the access to your funds will be limited. One can withdraw 50 per cent of the initial deposit only after 4 years. The same amount of Rs 10,000 can give you an insurance cover of up to approximately Rs 5-12 lakh (depending upon the plan, age and

medical condition of the life insured, etc) and this amount can become immediately available to the nominee of the policyholder on death.
Thus insurance is a unique investment avenue that delivers sound returns in addition to protection. Role 2: Life insurance as "Risk cover"

First and foremost, insurance is about risk cover and protection - financial protection, to be more precise - to help outlast life's unpredictable losses. Designed to safeguard against losses suffered on account of any unforeseen event, insurance provides you with that unique sense of security that no other form of investment

provides. By buying life insurance, you buy peace of mind and are prepared to face any financial demand that would hit the family in case of an untimely demise. To provide such protection, insurance firms collect

contributions from many people who face the same risk. A loss claim is paid out of the total premium collected by the insurance companies, who act as trustees to the monies. Insurance also provides a safeguard in the case of accidents or a drop in income after retirement. An accident or disability can be

devastating, and an insurance policy can lend timely support to the family in such times. It also comes as a great help when you retire, in case no untoward incident happens during the term of the policy. With the entry of private sector players in insurance, you have a wide range of products and services to choose from. Further, many of these can be further customized to fit individual/group specific needs. Considering the amount you have to pay now, it's worth buying some extra sleep.

Role 3: Life insurance as "Tax planning"

Insurance serves as an excellent tax saving mechanism too. The Government of India has offered tax incentives to life insurance products in order to facilitate the flow of funds into productive assets. Under Section 88 of Income Tax Act 1961, an individual is entitled to a rebate of 20 per cent on the annual premium payable on his/her life and life of his/her children or adult children. The rebate is deductible from tax payable by the individual or a Hindu Undivided Family. This rebate is can be availed upto a maximum of Rs 12,000 on payment of yearly premium of Rs 60,000. By paying Rs 60,000 a year, you can buy anything upwards of Rs 10 lakh in sum assured. (Depending upon the

age of the insured and term of the policy) This means that you get an Rs 12,000 tax benefit. The rebate is deductible from the tax payable by an individual or a Hindu Undivided Family.

Role 4: Life insurance as "Financial Planning"

Most insurance plans available today have a built in savings element. Plans like the Endowment Plan, Money back Plan, Child Advantage Plan, Preferred Retirement Plans, etc allow you to meet your dual financial goals of life cover and Savings for the future.

You may avail of a loan from the insurance company against certain plans. Your policy could also be pledged as a collateral to raise funds from banks and other financial institutions. In case of your unfortunate death the loans may be repaid from the proceeds of the life insurance policy. Insurance promotes compulsory savings with regular premium payments and helps build up a corpus of funds along with financial security for the dependants in case of premature death. For your medical needs and that of your family. Hospitalization costs and quality healthcare is becoming increasingly expensive. Without insurance, you can actually face a situation where you have withdrawn all your money and borrowed to

pay the medical bills. This can be provided with our Critical Illness Benefit. Insurance provides you the option of covering yourself towards any critical illnesses that can become extremely costly. Choosing this facility pays you a lump sum upon diagnosis of certain diseases like cancer, kidney failure, heart attack, stroke, coronary bypass, vital organ transplants, Alzheimer's disease, paralysis, etc.

Role 5:Role of Insurance as "Economic Development."

It reducing burden of Government in providing relief to the old citizens as well as providing funds to Govt. for nation building activities. Direct investments made by Insurance serve a twofold purpose. It acts as a major instrument for the mobilization of savings of people, particularly from the middle and lower income groups. These savings are channeled into investments for economic growth thereby creating employment. These savings in turn go into the task of nation building.

ABOUT SBI LIFE INSURANCE

Life is full of surprises, some pleasant and some not so pleasant. Our families and we have to live with these uncertainties. Preparing for

the uncertainties of life is what Insurance is all about. Insurance is a tool, a solution for delegating the worries concerning tomorrow onto a trustworthy institution so that you can start living today. With SBI Life, you could smoothen the rough edges of life; make it a bit easier, so you needn't worry about your children's education, or your family's future. Whether you are looking for a safe investment vehicle with good returns or life cover with regular

returns in the future, all it needs is one small action on your part. Leave the rest to us and SBI Life will take care of your near and dear ones, and most importantly you. SBI Life Insurance is a joint venture between the State Bank of India and Cardif SA of France. SBI Life Insurance is registered with an authorised capital of Rs 500 crore and a paid up capital of Rs 350 crores. SBI owns 74% of the total capital and Cardif the remaining 26%. SBI Life has already covered more than 8 lacs group lives with an additional 2.5 lacs lives through individual policies. State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,000 branches across the country, the largest in the world.

Cardif is a wholly owned subsidiary of BNP Paribas, which is The Euro Zones leading Bank. BNP is one of the oldest foreign banks with a presence in India dating back to 1860. It has 9 branches in the metros and other major towns in the country. Cardif is a vibrant insurance company specializing in personal lines such as long-term savings, protection products, and creditor insurance. Cardif has also been a pioneer in the art of selling insurance products through commercial banks in France and 29 more countries.

While sharing its aggressive plans, SBI Life also announced the infusion of additional fresh capital of Rs. 75 crores to take its capital base up to its authorized share capital limit of Rs. 500 crores. Speaking on the occasion, Mr. S. Krishnamurthy, MD and CEO, SBI Life Insurance said, The additional capital has been injected to maintain stipulated solvency margins for the exponential new business growth and expanding branch network SBI Life Insurances mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and

world class operating efficiency. The company plans to make the insurance buying process quick, simple, and based on wellinformed judgments. In 2004, SBI Life Insurance became the first company amongst private insurance players to cover 30 lakh lives. The company expects to carve a niche in the Indian insurance market through extensive product innovation and aims to provide

the highest standards of customer service through a technological interface. To facilitate this, call centers have been already installed and help lines will be installed and customers will have access to their accounts through the Internet or through SBI branches. The company proposes to make available ready liquidity to its Life Insurance policies by way of loans at SBI counters. This will make Life Insurance a liquid asset in the financial portfolio of households. SBI Life Insurance is uniquely placed as a pioneer to usher bancassurance into India. The company hopes to extensively utilise the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans, personal loans, and credit cards. SBIs access to over 100 million accounts

provides a vibrant base to build insurance selling across every region and economic strata in the country. Mission Statement: To emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices, ensuring high standards of customer satisfaction and world class operating efficiency, and become a model life insurance company in India in the post liberalization period

5 reasons to select SBI Life as people preferred insurance company. Customer Satisfaction - many of their customers who have bought an insurance policy with them have bought a second one! Financially sound with over a 100 years of Banking experience, when people trusted company with their money, why would they trust somebody else with their protection needs. Affordability Easy to buy (accessibility) Trust & reliability.

OBJECTIVE
1) To determine the present position and satisfaction of investors in SBI Life Insurance. 2) To determine the market share of different brands. 3) Responses of customer Responses from them were collected through survey and for the questionnaire were prepared for both of them. 4) Benefits derived by assessing investors satisfaction are: - Feedback to organization regarding product. - Understanding customer s requirements.

- Providing superior service to customer. - Strengthen the relationship with customers. - Formulating sales strategies.

5) Identify pros and cons of the brand SBI Life Insurance This was a fundamental objective of the whole research. Company wants to identify that where does the brand lack. In other words, what are the brands so that it can rectify them in order to establish the brand in the market? 6) Suggestions and recommendations. The objective of the research was not only to find out the problem but also the identification of solutions or suggestions of the problems.

SCOPE
People differ from each other not only due to the biological characteristics but also due to financial position such as income, expenditures, savings they have. According to these their needs vary from each other. Due to this the financial requirement and ability to get the requirement differ from person to person so that the financial market such as life insurance carters to a vast area from each of these aspects stated above.

The title of my project is investors satisfaction with regards to pre and post investment with SBI LIFE INSURANCE means to gather informations about how the customers are satisfied with their respective investments made by them.

On the basis of clients need suggest them about the various opportunities of life insurance, explain them about the products of the company and fulfill their needs.

LIMITATION
Interacting with the respondents during working hours was a critical task especially with the service holders. Some of the respondents, because of fear of misuse of information didnt disclose some information nor did respond to my questionnaire. Few respondents showed lack of interest in answering to the questionnaire. The survey is limited to few clients in Bhubaneswar. It was very difficult to take appointments of respondents. Opinion of the respondents may be biased.

Chapter 2 (Theoretical
Framework)

MARKETING
DEFINATION:According to Philip Kotler marketing is defined as satisfying needs and wants through an exchange process. According to Palmer marketing is defined as marketing is essentially about marshalling the resources of an organization so that they meet the changing needs of the customers on whom the organization depends. From a societal point of view, marketing is the link between a societys material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that also benefit the organization and its shareholders. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. There are five competing concepts under which organizations can choose to operate their business; the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept. The four components of holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing. The set of engagements necessary for successful marketing

management includes, capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth, and developing marketing strategies and plans.

4 PS OF MARKETING
PRODUCT:Product are the goods and services that your business provides for sales to your target market. When developing a product you should consider quality, design, features and packaging, customer service and any subsequent after sales services.

PLACE:Place in regards to distribution, location, methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell the product directly to customers.

PRICE:It concerns the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection.

PROMOTION:-

It refers to the act of communicating the benefit and value of your product to customers. This then involves persuding general customers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion.

CONSUMER BEHAVIOUR
Management is the youngest of sciences and oldest of arts and consumer behavior in management is a very young discipline. Various scholars and academicians concentrated on it at a much later stage. It was during the 1950s, that marketing concept developed, and thus the need to study the behavior of consumers was recognized. Marketing starts with the needs of the customer and ends with his satisfaction. When every thing revolves round the customer, then the study of consumer behaviour becomes a necessity. It starts with the buying of goods. Goods can be bought individually, or in groups. Goods can be bought under stress (to satisfy an immediate need), for comfort and luxury in small quantities or in bulk. For all this, exchange is required. This exchange is usually between the seller and the buyer. It can also be between consumers. DEFINTION:Consumer behaviour is defined as the decision making process and physical activity involved in acquiring, evaluating, using and disposing goods and services. This definition clearly brings out that it is not just the buying of goods/services that receives attention in consumer behaviour, but the process starts much before the goods have been acquired or bought. A process of buying starts in the minds of the consumer, which leads to the finding of alternatives between products that can be acquired with their relative advantages and disadvantages. This leads to internal and external research.

Then follows a process of decision-making for purchase and using the goods, and then the post purchase behavior which is also very important, because it gives a clue to the marketers whether his product has been a success or not.

To understand the likes and dislikes of the consumer, extensive consumer research studies are being conducted. These researches try to find out: What the consumer thinks of the companys products and those of its competitors? How can the product be improved in their opinion? How the customers use the product? What is the customers attitude towards the product and its advertising? What is the role of the customer in his family? The following key questions should be answered for consumer research. A market comes into existence because it fulfils the needs of the consumer. Consumer behaviour is a complex, dynamic, multidimensional process, and all marketing decisions are based on assumptions about consumer behaviour.

CUSTOMER SATISFACTION

In regular, satisfaction is a persons feeling of pleasure or disappointment that result comparing to product perceived performance to expectation. If the performance falls short of expectation, the customer is dissatisfied. If it matches the expectation the customer is satisfied. If it exceed expectation, the customer is highly satisfied or delighted. Customer assessments of product performance depend on many fact-ors, especially the type of loyalty relationship the customer has with the brand. Consumer often form more favorable perception of a product with a brand they already feel positive about.

Marketers play several roles in helping their companies define and deliver and deliver high quality goods and service to target customer they correctly identify customers need and requirements. They communicate customer expectation properly to product designers. They make sure customer order are filled correctly are on time. They check that customers have received proper instruction, training, and technical assistance in the use of the product. They stay in touch with customer after the sale to ensure they are, and remain, satisfied. They gather customer ideas for product and service improvements and convey them to the appropriate departments. When the marketers do all this, they make substantial contribution to total quality management and customer satisfaction, as well as to customer and company profitability.

CUSTOMER RELATIONSHIP MANAGEMENT

Q. What is CRM (customer relationship management)?

CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help a company manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth. According to one industry view, CRM consists of:

Helping an enterprise to enable its marketing departments to identify and target their best customers, manage marketing campaigns and generate quality leads for the sales team. Assisting the organization to improve telesales, account, and sales management by optimizing information shared by multiple employees, and streamlining existing processes (for example, taking orders using mobile devices) Allowing the formation of individualized relationships with customers, with the aim of improving customer satisfaction and maximizing profits; identifying the most profitable customers and providing them the highest level of service. Providing employees with the information and processes necessary to know their customers understand and identify customer needs and effectively build relationships between the company, its customer base, and distribution partners.

CONSUMER DECISION MAKING PROCESS

It is every marketers goal to get inside the head of a consumer. You want to figure out how the consumer makes decisions and how you can get them to make a decision to purchase your product or service. There are 5 steps in a consumer decision making process a need or a want is recognized, search process, comparison, product or service selection, and evaluation of decision. PROBLEM RECOGNITION:Most decision making starts with some sort of problem. The consumer develops a need or a want that they want to be satisfied. The consumer feel like something is missing and needs to address it to get back to feeling normal. If you can determine when your target demographic develops these needs or wants, it would be an ideal time to advertise to them. For example, they ran out of toothpaste and now they need to go to the store and get more.

SEARCH PROCESS:Most of us are not experts on everything around us. In the searching phase we research for products or services that can satisfy our needs or wants. Search Engines have become our primary research tool for answers. It is an instant and easy way to find out what you are looking for. Also dont forget about actual human beings. Our friends and families all have had many different experiences and can offer us recommendations. In most cases recommendations from actual people instead of a search engines are preferred. You have more of a trust factor with people close to you then a computer program. You also may have had past experiences that assist you in solving your problem. You may have had a life experience in the past that helps you make the correct

purchase decision. You could also just know what decision to make just by picking up things over the years and knowing how to solve them.

In this stage you are also beginning your risk management. You might make a pros vs. cons diagram to help make your decision. People often dont want to regret making a decision so extra time being put into managing risk may be worth it. People also remember bad experiences over good ones, take that into account.

EVALUATING ALTERNATIVES:Once the consumer has determined what will satisfy their want or need they will begin to begin to seek out the best deal. This may be based on price, quality, or other factors that are important for them. Customers read many reviews and compare prices, ultimately choosing the one that satisfies most of their parameters.

SELECTION STAGE:After tallying up all the criteria for the decision the customers now decide on what they will purchase and where. They have already taking risk into account and are definite on what they want to purchase. They may have had prior experience with this exact decision or maybe they succumbed to advertising about this product or service and want to give it a try. Evaluation of Decision:Once the purchase has been made, does it satisfy the need or want? Is it above or below your expectations? The goal for every marketer is not for a one-time customer but a repeating lifetime customer. One bad experience of buyers remorse and your brand perception could be tarnished forever. On the other hand, one superb experience can lead to a brand loyal customer who may even become a brand evangelist for you.

Chapter 3

COMPANY PROFILE

ABOUT SBI Life Smart Money Back Insurance:SBI Life Insurance Company Limited is an established life insurance company with over a decade of experience serving more than 100 million customers in over 18000 cities in India. Headquarters in Mumbai and Maharashtra, SBI Life Insurance Company Limited is 100% owned by State Bank of India. The company distributes its products through key channels like Tied Agency, Bank assurance and Alliances. The Tied Agency channel comprises over 40,000 SBI Life Insurance Advisors, spread across the country. The Banc assurance and Alliances business within SBI Life Insurance is a fast growing distribution channel, and includes the Banc assurance partner (SBI Life Insurance.co.ltd), Referral Partners, Corporate Agents and Brokers. The word "SBI" and the device " are used under license. " are trademarks of SBI Group N.V. and

MONEY BACK
Get your Money Back and still stay insured

Introducing SBI Life Money Back plan, a smooth way to plan for all the special moments in your life. As an individual your life is fueled by dreams. You experience different special moments in life like wedding, birth of a child, childs education, or purchasing a new home. You have to be financially prepared for these special moments. What you need is easy liquidity at regular intervals with life insurance protection to take care of these special moments.

Benefits of the plan: Twin benefits of Life Insurance and increased cash inflow at regular intervals.

Guaranteed Survival Benefit Payments more than 100% of the Sum Assured. Increasing Survival Benefit payments. Bonus for the entire term of the policy. Available in a wide range of terms: 10, 15, 20, or 25 years to suit your needs. In the event of claim your beneficiary would receive full sum assured and bonuses, Irrespective of Survival Benefits already paid. Tax benefit u/s 80 C and 10 (10 D) of IT Act* Convenient premium payment options. & Attractive rider cover. Attractive rebate for Female lives. Rebates for Annual / Semi- Annual modes of Premium. Rebates on high value policies. &15 days Free Look Period.

Feature: SBI Life Money Back is a saving plan with added advantage of life cover and cash inflow at regular intervals. This plan is designed for individuals who want to plan for various financial obligations at specified times in life. Keeping customers convenience in mind, we have designed four plan options: for 10, 15, 20, or 25 years.

Term of the Plan

Guaranteed Survival Benefit payable

Cumulative Guaranteed Survival Benefit

A) 10 Years

The last 3 years on the term

110% of Basic Sum Assured

B) 15 Years

After every 3 years on the term

115% of Basic Sum Assured

C) 20 Years

After every 4 years on the term

120% of Basic Sum Assured

D) 25 Years

After every 4 years on the term

125% of Basic Sum Assured

* Single premium mode is also available.

The premium payment term is less than the policy term. Your investment goes through a "Growth/Deferment Period" in which the money you've invested continues to multiply; in the Growth/Deferment Period you will not be entitled for any Survival benefit. At the end of this Period, you get your money back annually for 5 years or 10 years, depending on the plan option chosen by you. However you remain covered for the entire duration of the policy for the full Sum Assured, irrespective of survival benefit already received. In addition to the Basic Cover, you are also entitled to opt for extra covers (riders): Term Assurance rider and Accident rider (Accidental Death and Accidental Total Permanent Disability), by paying nominal additional premiums. No riders available for Single Premium Mode. Rider Sum Assured cannot exceed the Basic Sum Assured

Premium Payment Mode:1) Regular premium payment mode: Quarterly, half-yearly and yearly.

Single premium payment: One time premium payment for the selected term at commencement 2) Premium Amount: Premium rate is different depending on the plan selected, term, the gender, the Sum Assured, and mode of payment.

Chapter 4

PRODUCT

a)

LIFE LONG PENSION

plan for retirement days.

To make post retirement years truly golden, SBI Life introduces Lifelong Pensions a unique Pension

Life expectancy is improving rapidly. People live longer. A person cannot work throughout their life. You will have to retire from work. In the post retirement period you have lot of time for yourself. You would like to do things you have not done while you were working. You need to have a comprehensive plan to meet our post retirement financial needs ensuring complete peace of mind.

Advantages of the plan:

A maximum of Rs. 1,00,000 p.a. paid as a contribution on a pension plan is fully deductible from the taxable income (within the max. ceiling Rs. 1 lakh)

Minimum Guaranteed returns of 4% p.a. (compounded annually) on your Personal Pension Account (till 31st March 2010) + Vested bonus.

It helps you to accumulate enough savings to meet the old age needs and look for a reliable and enduring pension payment.

It is an extremely flexible plan:

Choice of the contribution amount you want depending on your premium paying capacity.

You may exercise the Top-up facility whenever by paying additional amount to increase your retirement kitty, irrespective of contribution payment mode.

Convenient Contribution payment mode monthly, quarterly, halfyearly, yearly, and single contribution is also available.

Choice of the choosing your own retirement age.

Postponing/ Proponing to a convenient date, the decision for receiving the Pension Benefits.

Contribution holiday available from year 4 onwards The total/balance amount (after withdrawal from PPA, if any) can be utilized in seeking immediate annuity.

Free to chose annuity from either SBI Life or other insurance companies

At Vesting Age you have multiple choices of Pension/ Annuity options including Joint Life Time Annuity.

On maturity you have a choice to withdraw up to 33% from your Personal Pension Account in a lump sum. This withdrawal amount is taxfree as per the current fiscal law.

Helps you to utilize all alternatives of tax savings today and also plan for a worry free tomorrow. In Pension cum Life Cover plan, you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term. In Pension cum Life Cover plan, the life cover acceptance is based on a simple medical questionnaire without any Medical examination

Rebates for Annual, Semi- Annual mode of premium and on high Contribution amount. Enjoy financial independence when you retire.

30 days Free Look Period from the date on which you receive the policy documents.

Lifelong Pensions plan helps to meet your financial requirement no matter which life stage you are at. It is designed specially for individuals who wish to build their kitty retirement with no risk and tax advantage u/s 80 CCC (1) of IT Act.

SBI Life Insurance have designed 2 plans to meet different requirements: Plan 1: Pure Pension This plan is a pure savings accumulation vehicle. No medical underwriting required. You can enjoy the benefits of this plan without any hassles, Automatic Acceptance. You have to just fill a simplified Proposal form. Plan 2: Pension cum life cover This plan is a pension builder plan with life insurance option. A simple medical questionnaire needs to be filled. The term of the life cover is equal to the Vesting Age / 65 whichever is earlier. If Life cover is extended due to postponement of Vesting Age, new medical questionnaire and new premium amount will be applicable. In this plan you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term. The Premiums due for Life Cover will be deductible from your Personal Pension Account.

Pure Pension Plan 1

Pension cum Life Cover Plan2

Minimum term Maximum term

2 years 52 years

5 years 52 years

Eligibility: Pure Pension Plan1 Pension cum Life Cover Plan2 18 year 60 years 65 years

Minimum Age at entry* Maximum Age at entry* Maximum cover age for life cover

18 years 65 Years Not Applicable

b)

EDU SHIELD
Secure your future. Secure your Education Loan.

As a loving parent you dream of a bright future for your child. You want your childs higher education secured and fulfilled under all circumstances. We have a scheme for you to accomplish your wishes! Edu Shield is a unique insurance plan from SBI Life that provides Life Insurance Protection for Education Loan borrowers. With a policy under Edu Shield in hand, you can cross the important milestones of your life with a broad smile. Edu Shield is a non-participating plan. It provides level insurance cover to the education loan customers throughout the term of the loan. It is meant for the students and parents. Both the lives are covered separately. In case of claim, the Life Cover sum

assured is payable to the Bank. The Bank will refund any surplus over the outstanding loan amount to the legal heir. The Premiums are Payable on annual basis through Standing Instructions to the Bank to debit the loan account. Benefits: I . Maturity Benefits: No benefits are payable to the surviving borrower/s on maturity of the term of the policy. II . Death Benefit: The life cover sum assured is payable to the Bank (as the Bank is the assignee). Surplus amount after adjusting the dues, if any, will be paid to the legal heir by the Bank No death benefit is available for suicide within the first year of the policy.

III . Tax Benefit You are eligible for Tax benefit for the premium payment u/s 80 C and 10 (10 D) of IT Act*

c)

SCHOLAR II
Why take chances with your child's future?

As a caring parent you would always want your child to get the very best. Is there a way to protect your children against lifes risks? Is there a way to make tomorrow safe for them? Therefore this is the time when careful financial planning can help you fulfill the aspirations that you have for your childrens. We at SBI Life can help you ensure that your childrens future is secure and prosperous. SCHOLAR II is designed to protect your childs future educational needs.

Advantages: Twin benefit of saving for your child's education and securing a bright future despite the uncertainties of life. Full risk cover throughout the policy term irrespective of payment of survival benefits installments. Option to receive the installments in lump sum at the due date of first installment of Survival benefit. Tax benefit u/s 80 C and 10 (10 D) of IT Act* Attractive rider options

Attractive rebate for Female lives and High Sum Assured. 15 days Free Look Period.

d)

SUDARSHAN-AN ENDOWMENT POLICY

Sudarshan is an Endowment Policy designed to provide savings and

protection to you and your family. You can save regularly for the future. Thus at the end of the plan, you will receive a substantial amount of savings along with the accumulated bonuses declared. At the same time, your family will be protected for death risk for the full Sum Assured. 'Sudarshan' is available under two Plans.

Fixed Sum Assured (Plan A): Fixed amount of cover for the entire duration of the plan Increasing Sum Assured (Plan B): Increasing amount of cover every year for the entire duration of the plan with level premium. In addition to the Basic Cover, you are also entitled to opt for extra covers (riders): Term Assurance Cover, Accidental Death and Accidental Total Permanent Disability Cover and Critical Illness Covers by paying nominal additional premiums.

e)

SETUBANDHAN
Attractive New product for NRIs

Setubandhan is Investment - cum - Life Insurance opportunity A unique Life Insurance bond that helps you, the NRI living abroad, build a bridge between you and your dear ones back in India.

Eligibility Minimum sum assured on each policy Rs.3 lakhs, maximum Rs. 1 crore. Entry age minimum 18, maximum 60. Cover available up to maximum 70 years.

Benefits: Base Policy for NRIs:

Guaranteed 5% annual additions (Simple) on Sum Assured with benefit of Single Premium payment In the event of death, the Sum Assured as increased by the annual addition on the date of death will become payable. Upon survival, the Sum Assured with total additions during the period will be payable Rider benefits for NRIs: Critical illness cover (Dhanwantari-Supreme), subject to maximum of Rs.5 lakhs. Premium payable annually, and the rate will be valid for maximum 5 years, subject to review thereafter for 10-year Plan.

Optional Life Cover for Dependant Term insurance cover for a dependant living in India, subject to a minimum sum assured of Rs. 3 lakhs and maximum Rs. 10 Lakhs. Premium payable annually. `Dependant will mean spouse, and parents not above the age of 55 at the time of entry. Term insurance premium will be refundable at the end of the term upon survival of the life covered (Swadhan). Full refund of premium for a 10-year term and 50% for a 5year term. Critical illness covers for the dependant, subject to the maximum of Rs.5 lakhs. Premium payable annually.

Surrender benefits: No surrender benefit during the first year. 90% of basic premium paid for surrender during 2nd and 3rd year. 95% of basic premium paid for surrender from the 4th year.

No guaranteed addition will be payable for policies surrendered under the 5-year Plan. In respect of policies with 10-year term, the guaranteed addition to the extent of 50% will become payable for policies surrendered between 6th and 7th years, and 75% in respect of policies surrendered from the 8th year. Loan facility available from Branches of SBI and Associate Banks based on the surrender value of the policy. Rebate on premium on high value policies

CHAPTER-5

MY STUDY
1) I worked as a summer intern trainee at SBI LIFE INSURANCE. 2) I underwent 45 days of intense summer internship training at the company. 3) As a part of our project I was involved in the field work of searching various customers for the company. 4) I approached 100 customers for the company. 5) Before field work I was given training in details about how policy is done and also was provided total theoretical description about the company. 6) I had an opportunity of personally making life insurance policy for some customers.

COMPARISON WITH KOTAK LIFE INSURANCE PRODUCT

Kotak Money Back Plan
5 year guaranteed survival benefit is payable

SBI-Money Back Plan

3,4 or 5 year guaranteed survival benefit is payable.

Guaranteed Survival Benefit

Minimum age of entry 18 year 15 year for all option plan Maximum age of entry

60 year

Option 1: 60 year Option 2: 55 year Option 3: 50 year Option 4: 45 year Maximum Maturity Age
70 year

75 year

No any declaration

Special Rebate Women get special rebate of 5% on premium base.

Kotak Endowment Plan

Entry Age Minimum 18 year Maximum 65 year Minimum 10 year Maximum 30 year

SBI-Endowment Plan
Minimum 12 year Maximum 65 year Term Minimum 8 year Maximum 30 year Death Benefit Sum assured + bonus

In event of death nominee will receive basic sum assured or accumulated account which is higher

TIME & COST OF INSURANCE

The minute you have people dependent on your income, you should insure yourself. The younger the age, the lower is your premium. At SBI-Life, they believe anybody who is married and has children or plans to have children needs to be insured. Even if you are single, earning and intending to marry, you should think of buying a policy now, as it costs less now than it will when you marry. Remember, it is never too late to buy an insurance policy. Even if you are 45, and are not insured, you could choose insurance products that provide benefits to your family and provide income during your retirement period. Ideally, you should insure yourself for as long as you are the critical or crucial

breadwinning member of the family. With the growing nuclear families and the typical Indian sacrificing mothers/wives, it may be prudent to ensure that the working man covers himself for his whole life; to ensure that his wife receives a lump sum upon his death. A general rule of thumb is that you should insure yourself for at least six times your annual income. This amount is normally adequate for your family to sustain themselves at present levels, until they recover from the financial loss caused by your absence.

The cost of buying an insurance policy depends on: Your age, health, and the nature of work you do The type of policy you select The sum assured i.e. amount you insure yourself for The term i.e. number of years you insure yourself for The premium paying term i.e. number of years you choose to pay premium The mode i.e. the frequency with which you choose to pay premium (monthly, quarterly, half-yearly, yearly) The rider's i.e. additional benefits you select, their term and premium paying term

Example of an Endowment product for a 30-year old male

An Endowment with profit policy, for a sum assured of Rs 100,000, a premium paying term and insurance term of 25 years, can cost between Rs 3,500-4,500 per annum. However, there are a number of riders you can add on to an insurance policy, which could increase your insurance cost by 20-30 per cent. Upon maturity or in the event of death of the insured, the insured or the nominee receives the sum assured plus bonus for the term of the policy.

RESEARCH METHODOLOGY
INTRODUCTION Research is an art of scientific investigation through search for new facts in any branch of knowledge. It is a moment from known to unknown.

Research always starts with a question or a problem. Its purpose is to find answers to questions through the application of the scientific method. It is a systematic and intensive study directed towards a more complete knowledge of the subject studied.

As marketing does not address itself to basic or fundamental question, it does not qualify as basic research. On the contrary, it tackles problems, which seem to have immediate commercial potential. In view of the major consideration, marketing research should be regarded as applied research. We may also say that marketing research is of both types problem solving and problem oriented. Marketing research is as systematic and objectives study of the problems pertaining to the marketing of the goods and services. It may be emphasized that it is not restricted to any particular area of marketing, but is applied to all the phases and aspects.

RESEARCH METHODOLOGY PROCESS

The research methodology process are of 8 types. They are as follows:-

Step 1: Identify the Problem:The first step in the process is to identify a problem or develop a research question. The research problem may be something the agency identifies as a problem, some knowledge or information that is needed by the agency, or the desire to identify a recreation trend nationally.

Step 2: Review the Literature:Now that the problem has been identified, the researcher must learn more about the topic under investigation. To do this, the researcher must review the literature related to the research problem. This step provides foundational knowledge about the problem area. The review of literature also educates the researcher about what studies have been conducted in the past, how these studies were conducted, and the conclusions in the problem area.

Step 3: Clarify the Problem:Many times the initial problem identified in the first step of the process is too large or broad in scope. In step 3 of the process, the researcher clarifies the problem and narrows the scope of the study. This can only be done after the literature has been reviewed. The knowledge gained through the review of literature guides the researcher in clarifying and narrowing the research project.

Step 4: Clearly Define Terms and Concepts:Terms and concepts are words or phrases used in the purpose statement of the study or the description of the study. These items need to be specifically defined as they apply to the study. Terms or

concepts often have different definitions depending on who is reading the study. To minimize confusion about what the terms and phrases mean, the researcher must specifically define them for the study.

Step 5: Define the Population:Research projects can focus on a specific group of people, facilities, park development, employee evaluations, programs, financial status, marketing efforts, or the integration of technology into the operations. For example, if a researcher wants to examine a specific group of people in the community, the study could examine a specific age group, males or females, people living in a specific geographic area, or a specific ethnic group. Literally thousands of options are available to the researcher to specifically identify the group to study. The research problem and the purpose of the study assist the researcher in identifying the group to involve in the study.

Step 6: Develop the Instrumentation Plan:The plan for the study is referred to as the instrumentation plan. The instrumentation plan serves as the road map for the entire study, specifying who will participate in the study; how, when, and where data will be collected; and the content of the program.

Step 7: Collect Data:Once the instrumentation plan is completed, the actual study begins with the collection of data. The collection of data is a critical step in providing the information needed to answer the research question. Every study includes the collection of some type of datawhether it is from the literature or from subjectsto answer the research question. Data can be collected in the form of words on a survey, with a questionnaire, through observations, or from the literature.

Step 8: Analyze the Data:All the time, effort, and resources dedicated to steps 1 through 7 of the research process culminate in this final step. The researcher finally has data to analyze so that the research question can be answered. In the instrumentation plan, the researcher specified how the data will be analyzed. The researcher now analyzes the data according to the plan.

The results of this analysis are then reviewed and summarized in a manner directly related to the research questions.

TYPES OF DATA

There are two types of data. They are as follows:-

PRIMARY DATA:- These are the data otherwise known as first hand data only meant for a specific purpose of a research never used previous. I have collected my primary data from the investors through questionnaire SECONDARY DATA:- It refers to the data already available in the market normally the data available in internet , different website, business journals, company document, news paper, articles relating to a specific subject are known as secondary data. I have collected my secondary data from different website, business journals and SBIs official documents given to me for my study

SAMPLING MEDHODOLOGY
SAMPLING TECHNIQUE:Initially a rough draft was prepared keeping in mind the objectives of the research. A study plot was done in order to know the accuracy of the questionnaire. The final questionnaire was arrived only after the certain important changes were done. Thus my sampling came out to be judgmental and convenient. Sampling technique is random sampling

SAMPLING UNIT:The respondents who were asked to fill out the questionnaire are the sampling units. These comprise of doctors, organizations, restaurants, private companies etc.

SAMPLING SIZE:The sample size was restricted to a few, which comprised of mainly people from different region of Bhubaneswar. Total sampling size collected was 100.

SAMPLING AREA:The area of the research was at Master canteen, Bhubaneswar. The total sample collected was 100.

LIMITATION OF THE RESEARCH: The research is confined to certain parts of Bhubaneswar. Some respondents were reluctant to divulge personal thoughts which can affect the validity of all respondents.

Chapter - 7

NEWS REPORTS
TIMES OF INDIA

Currently managing a portfolio of whopping 6 million lives; SBI Life is set to maintain its leadership in Group Lives coverage. So far this financial year, SBI Life has already covered more than 8 lacs group lives with an additional 2.5 lacs lives through individual policies. SBI Life is now the fastest growing life insurance company, with New Premiums growing at a scorching 264% (YTD) basis, from Rs. 275 crores to 1000 crores and Total Premiums keeping pace, growing at 211% from Rs. 370 crores to Rs. 1150 crores. A strong growth across all its channels namely Bancassurance, Agency Channel, and Group Corporate is the major attributing factor for SBI Lifes exponential business growth. While sharing its aggressive plans, SBI Life also announced the infusion of additional fresh capital of Rs. 75 crores to take its capital base up to its authorized share capital limit of Rs. 500 crores. Speaking on the occasion, Mr. S. Krishnamurthy, MD and CEO, SBI Life Insurance said," The additional capital has been injected to maintain stipulated solvency margins for the exponential new business growth and expanding branch network He added, This growth has come primarily on account of our multi-channel business model coupled with a balanced mix of savings and protection products. SBI Life currently has the largest and most robust Bancassurance network complimenting the most productive and active Insurance Advisor force of Agency Channel in the country.

FINANCIAL EXPRESS

SBI Life has rapidly expanded its operations this year to strengthen its unique multi-distribution network. The company now is leveraging the 14,500-strong SBI Group branch network from where SBI Life products are currently available. SBI Life also has increased its own branch network from 68 branches as March 06 to 95 as on December 06. While the number of Life Insurance Advisors recruitment has gone up by more than double from 8000 as on March 06 to 18,525 as on December 06. The two other channels of Group Insurance & Credit Life have also been showing significant growth.

SURVEY REPORT

PolicyHolder
12 10 8 6

SBI Life Insurance Policyholder

20% 16%

24%

Pension Money Back Endow ment

40%

other

With the help of survey on SBI Life Insurance policyholder we can see that there is 40% Money back policyholder, 24% Pension, 20% other & 16% Endowment policy holder. So overall research & analysis say that Money back policy is popular due to its convenient term period: 10,15,20,25 years, easy liquidity at regular interval & fair guaranteed survival benefits. It is really benefited to meet various financial obligations at crucial junctures. Next

Pension policy is popular due to their goodwill & attractive benefits. The insured has the option of selecting when and for how long (term) she or he would like to receive the pension amount. Endowment & other policy are quite popular due to their selective benefits & low premium amount. Mostly smart person use endowment amount to buy an annuity policy to generate a monthly pension for the rest of your life, or put it into any other suitable investment of your choice. This is the major benefit that an endowment policy offers over a whole life one.

Feedback of SBI Life Insurance Policyholder

32% 68%

Satisfactory Unsatisfactory

Overall survey, Insurance advisors, & experts' comments I conclude here that numerous policyholders are satisfactory with SBI-Life Insurance service for the reason that its reputation, brand name, Convenient premium payment mode, large network branches, attractive returns bonus incentives, affordability etc. It will further grow with high marketing & new innovative product & services.

Chapter - 8

FINDINGS

Majority of the customer s belonged to age group of 25-35 years that is 38 consumers. 90% of customers think Life Insurance is essential for them. 135 respondents are investing in life insurance companies like SBI Life Insurance, LIC, Tata Allianz, Max New York, HDFC, ICICI and ING.

36 percentages of the total respondents invest in SBI Life Insurance for getting high ROI. Most of respondent s preferred SBI Guaranteed Income plan. 37.5% of respondents expect bonus and other schemes from SBI Life Insurance. 56 % of respondents satisfied with services given by SBI Life Insurance. As per 28% of respondents SBI Life Insurance providers good tax benefits to the Investors. 64% of respondents are willing to purchased policies from SBI Life Insurance in future.

CONCLUSION
Economic growth & development has been widely accepted as major goal of national policy in country. Economic growth is today decided more by human capital than material capital. Equipment, process, & property are

leveraged not by their inherent capability but by action of human being. Therefore Human Resources is significant asset for country but this human life is full of uncertainties & risks. Preparing for uncertainties SBI life Insurance company is came out with the different insurance policy as a solution for delegating worries. It reimburses

people for lovered losses in the event of an unfortunable occurrence such as illness, accident, & death. At the some time, it can encourage safety measure, provide investment capital, lend money, & help to reduce anxiety for society at large. SBI Life Insurance is to emerged as leading company offering a comprehensive range of life Insurance & pension product at competitive price, ensuring high standard of customer service & world class operating efficiency. Different products are designed to a suitable in different life event stage. Bancassurance recorded a premium income of Rs 163 crore, about 80% of the total premium income, he said, adding that other channels too showed good growth over the corresponding period last year. The company's business was growing 4-5 times a stood at Rs. 100 crore till July, of which Rs. 84 crore came from premium from new business. If the company continues to grow at this rate, SBI Life could end this fiscal with a premium income of Rs. 1,000 crore as against Rs. 225.65 crore in 2003-04.The company plans to make insurance buying process quick, simple based on well-informed judgment, which will satisfy customer in all manners. As looking growing function of SBI Life Insurance sector we assume that 100% function of human will become insured in coming 2010 with different product in low cost.

BIBLIOGRAPHY

BIBLIOGRAPHY
Nature & Scope of Banking, Insurance & other Financial Service In Economic Growth - P.K. Bandgar SBI- life Insurance Brochure, Pamphlet, magazines. Life Insurance Handbook. DNA Financial Express. Economics Time. www.sbilife.co.in- Only 20 % information

REFERENCES

1. KOTLER. P, MARKETING MANAGEMENT, PHI PUBLICATION, 4TH EDITION, CUSTOMER SATISFACTION. Pg. 120 to 130

2. SAXENA. R , MARKETING MANAGEMENT, TMH PUBLICATION, 3RD EDITION, C, Pg 532 to 544. 3. KOTHARI. C. R., RESEARCH METHODOLOGY, NA PUBLISHER,2nd EDITION RESEARCH PROCESS, Pg . 1-10

COMPUTER WEBSITE www.IRDA.com rda.com/search_caf.php?src=linen&uid=irda5272a28a8d3307.82298440&abp= 0&query=Insurance Companies&afdToken

APPENDIX
1. Personal detail Name: ______________ Age 18-24_______ 45-55_______ Phone No. Email ID: Office Address: __________________ __________________ __________________ Residential Address: _____________________ _____________________ _____________________ 25-35________ 35-45________

55 and above________

2. Do you think is it essential to have Life Insurance ? YES________ NO_________

3. Which are the companies you have interested your money for Life Insurance ? a) SBI Life Insurance b) LIC c) Bajaj Allianz d) ICICI Prudential Life Insurance e) Tata AIG f) Max New York Life Insurance g) HDFC Life Insurance h) ING Vysya Life Insurance

4. Why did you choose SBI Life Insurance?

a) ROI b) Peer Pressure c) Tax Benefit d) Security/safety e) Low Premium 5. Which of the following planed you is insured? a) Flexi Plan b) Retirement Plan c) Endowment Plan d) Capital Multiplier Plan e) Child Advantage Plan 6. What kind of services you expect from Insurance Provides? a) Easy access ability to deposit center b) Time to time premium collection

c) Provision In case of dues d) Bonus & other scheme 7. How will you rate the services given by SBI Life Insurance ? a) Poor b) Average c) Good d) Excellent

8. What difference you find between SBI & other insurance companies? a) Good Returns b) Effective service/Liquidity c) Tax planning d) Security/ safety benefit & Protection on your capital 9. Do have any suggestion for SBI Life Insurance? YES________ NO________

10. In future, will you purchase policies from SBI Life Insurance? YES________ NO________

11. Are you satisfied with the service of SBI Life Insurance? a) very satisfied

b) quite satisfied c) neither satisfied nor dissatisfied d) quite dissatisfied e) very dissatisfied

12. How would you rate SBI Life Insurance company as comparison to other insurance
company ? a) high b)medium c)low