SUMMER TRAINING PROJECT REPORT

on
PROMOTIONAL STARTEGIES OF KOTAK LIFE INSURANCE

SUBMITTED FOR PARTIAL FULFILLMENT OF THE DEGREE OF

BACHELOR OF BUSINESS
ADMINISTRATION
By
PRIYANJAN BOTHRA
(Enroll. No.: 52512401715)

External Supervisor Internal Supervisor

RAJEEV PALIWAL MR. ANURAG
Manager (Sales & Marketing) Faculty Guide
Kotak Life Insurance AIAM, Grater Noida
Noida

Accurate Institute of Advanced Management, Greater Noida

(Affiliated to MTU and Approved by AICTE)
 PREFACE

In this project we review the tools and techniques used to measure effectiveness of promotional
strategies. Effectiveness is the measure of the gap between results and objectives. Lower the gap,
higher the effectiveness. Thus it is an evaluation of the promotional process.

Management wants the marketing managers to identify exactly what results were
obtained for the investment in promotional activities and to provide evidence of the return on
investment. After all, various promotions techniques uses the scarce resources that could be
invested in a number of ways. Therefore, the question that management poses is, Is promotional
activities is the best way to use those funds?" And it is the job of the promotional strategies
designer to be able to answer that question. To do so usually requires some form of promotional
strategies evaluation.

Evaluation of promotional strategies effectiveness is a form of research though it issomewhat

different from other forms. Most marketing research is used to predict what might occur in the
market place. Effectiveness research, on the other hand is used to determine exactly what did
happen. Although this information might be used as a basis for future actions, its basic purpose is
to measure what occurred as a result of the promotional campaign and therefore, what return was
received on the investment made.
In short, the reasons to evaluate the promotional activities are as follows:

1. To determine if the objectives set for the promotional activities were met. This of course
presupposes that measurable objectives were set in the first place. And that these
objectives are in line with the overall marketing objectives and strategies.

2. To quantify the return on the campaign investment. By knowing what was achieved,
management can relate that information to opportunity cost of money and determine cost
effectiveness of the promotional campaign. Of course this is an ideal situation. Measurements of
promotional activities results are seldom precise enough to make this quantification possible.

3. To use the results of effectiveness research to make changes, additions, or

completely alter course for future campaigns. No promotional activities is ever
totally successful.

The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for the
establishment of an Authority to protect the interests of holders of insurance policies, to regulate,
promote and ensure orderly growth of the insurance industry and for matters connected therewith
or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance
Corporation Act, 1956 and the General insurance Business (Nationalization) Act, 1972 to end the
monopoly of the Life Insurance Corporation of India (for life insurance business) and General
Insurance Corporation and its subsidiaries (for general insurance business)

It is the way of managing risk and protection against financial loss arising as a result of
contingencies, which may or may not occur. In other words, insurance is the act of providing
assurance, against a possible loss, by entering into a contract, with one who is willing to give
assurance. Through this contract the person willing to give assurance binds himself to make good
such loss, if it occurs.
 DECLARATION BY STUDENT

I hereby declare that this short research report on the topic Promotional strategies of Kotak life
insurance is sincerely carried out by me and is my genuine work. This report is submitted in the
partial fulfillment of BBA Degree and is not meant for acquiring any other degree or diploma
certificate.

Date:

Place: PRIYANJAN BOTHRA

 ACKNOWLEDGEMENT

I may not have completed this report without the guidance, help and support of certain people
who acted as guides, friends and torch bearers along the way.

A Report, when prepared with true spirit goes a long way in enriching many people's knowledge
and also it serves as a vital ingredient in the learning process of the individuals involved in
preparing it.

The present project report has been undertaken under the inspiring and valuable guidance of Mr.
Rajeev Paliwal (Company Guide). I would like to thank him for giving instructions, support and
suggestions without which I could not make the project as it is in present form.

I am also thankful to my faculty guide Mr. Anurag for his time to time guidance.

Lastly, I wish to express my gratitude to my colleagues and friends for their constant
encouragement and support.

Praveen Kr. Awana

 TABLE OF CONTENT

CHAPTER NO DESCRIPTION

1 Introduction

Background

Title of project and rationale of the study

2 Objective and scope of the study

3 Review of literature

4 Research methodology

Methodology adopted

5 Observations ,data collections ,analysis and

interpretation
Observation

Interpretation

Graph analysis

6 Findings, suggestion and conclusion

Annexure and bibliography
 CHAPTER 1

INTRODUCTION
The business of life insurance in India in its existing form started in India in the year 1818 with
the establishment of the Oriental Life Insurance Company in Calcutta.

The story of insurance is probably as old as the story of mankind. The same instinct that prompts
modern businessmen today to secure themselves against loss and disaster existed in primitive
men also. They too sought to avert the evil consequences of fire and flood and loss of life and
were willing to make some sort of sacrifice in order to achieve security. Though the concept of
Insurance is largely a development of the recent past, particularly after the industrial era past
few centuries yet its beginnings date back almost 6000 years.

Life Insurance in its modern form came to India from England in the year 1818. Oriental Life
Insurance Company started by Europeans in Calcutta was the first life insurance company on
Indian Soil. All the insurance companies established during that period were brought up with the
purpose of looking after the need of European community and these companies were not insuring
Indian natives. However, later with the efforts of eminent people like Babu Muttylal Seal, the
foreign life insurance companies started insuring Indian lives. But Indian lives were being treated
as sub-standard lives and heavy extra premiums were being charged on them. Bombay Mutual
Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870,
and covered Indian lives at normal rates. Starting as Indian enterprise with highly patriotic
motives, insurance companies came into existence to carry the message of insurance and social
security through insurance to various sectors of society. Bharat Insurance Company (1896) was
also one of such companies inspired by nationalism. The Swadeshi movement of 1905-1907
gave rise to more insurance companies. The United India in Madras, National Indian and
National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in
1906. In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of
the Jorasanko, house of the great poet Rabindranath Tagore, in Calcutta. The Indian Mercantile,
General Assurance and Swadeshi Life (later Bombay Life) were some of the companies
established during the same period. Prior to 1912 India had no legislation to regulate insurance
business. In the year 1912, the Life Insurance Companies Act, and the Provident Fund Act were
passed. The Life Insurance Companies Act 1912 made it necessary that the premium rate tables
and periodical valuations of companies should be certified by an actuary. But the Act
discriminated between foreign and Indian companies on many accounts, putting the Indian
companies at a disadvantage.

The first two decades of the twentieth century saw lot of growth in insurance business. From 44
companies with total business-enforce as Rs.22.44 crore, it rose to 176 companies with total
Businessin-force as Rs.298 crore in 1938. During the mushrooming of insurance companies
many financially unsound concerns were also floated which failed miserably. The Insurance
Act 1938 was the first legislation governing not only life insurance but also non-life insurance to
provide strict state control over insurance business. The demand for nationalization of life
insurance industry was made repeatedly in the past but it gathered momentum in 1944 when a
bill to amend the Life Insurance Act 1938 was introduced in the Legislative Assembly. However,
it was much later on the 19th of January 1956 that life insurance in India was nationalized. About
154 Indian insurance companies, 16 non- Indian companies and 75 provident were operating in
India at the time of nationalization. Nationalization was accomplished in two stages; initially the
management of the companies was taken over by means of an Ordinance, and later, the
ownership too by means of a comprehensive bill. The Parliament of India passed the Life
Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India
was created on 1st September, 1956, with the objective of spreading life insurance much more
widely and in particular to the rural areas with a view to reach all insurable persons in the
country, providing them adequate financial cover at a reasonable cost.

LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its corporate
office in the year 1956. Since life insurance contracts are long-term contracts and during the
currency of the policy it requires a variety of services need was felt in the later years to expand
the operations and place a branch office at each district headquarter. Re-organization of LIC took
place and large numbers of new branch offices were opened. As a result of re-organization
servicing functions were transferred to the branches, and branches were made accounting units.
It worked wonders with the performance of the corporation. It may be seen that from about
200.00 Crores of New Business in 1957 the corporation crossed 1000.00 Crores only in the year
1969-70, and it took another 10 years for LIC to cross 2000.00 crore mark .

Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7
zonal offices and the corporate office. LICs Wide Area Network covers 100 divisional offices
and connects of new business. But with re-organization happening in the early eighties, by 1985-
86 LIC had already crossed 7000.00 crore Sum Assured on new policies.

All the branches through a Metro Area Network. LIC has tied up with some Banks and Service
providers to offer on-line premium collection facility in selected cities. LICs ECS and ATM
premium payment facility is an addition to customer convenience. Apart from on-line Kiosks and
IVRS, Info Centers have been commissioned at Mumbai, Ahmedabad, Bangalore, Chennai,
Hyderabad, Kolkata, New Delhi, Pune and many other cities. With a vision of providing easy
access to its policyholders, LIC has launched its SATELLITE SAMPARK offices. The satellite
offices are smaller, leaner and closer to the customer. The digitalized records of the satellite
offices will facilitate anywhere servicing and many other conveniences in the future.

From then to now, LIC has crossed many milestones and has set unprecedented performance
records in various aspects of life insurance business. The same motives which inspired our
forefathers to bring insurance into existence in this country inspire us at LIC to take this message
of protection to light the lamps of security in as many homes as possible and to help the people
in providing security to their families.
Some of the important milestones in the life insurance business in India are:

1850: Non life insurance debuts with triton insurance company.

1870: Bombay mutual life assurance society is the first Indian

owned life insurer

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs. 5 Crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton
Insurance Company Ltd., the first general insurance company established in the year 1850 in
Calcutta by the British. Some of the important milestones in the general insurance business in
India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins
and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act nationalized the general insurance
business in India with effect from 1st January 1973. 107 insurers amalgamated and
grouped into four companies viz. the National Insurance Company Ltd., the New India
Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance
Company Ltd. GIC incorporated as a company.
Insurance sector reforms

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R. N.
Malhotra, was formed to evaluate the Indian insurance industry and recommend its future
direction.

The Malhotra committee was set up with the objective of complementing the reforms initiated in
the financial sector. The reforms were aimed at creating a more efficient and competitive
financial system suitable for the requirements of the economy keeping in mind the structural
changes currently underway and recognizing that insurance is an important part of the overall
financial system where it was necessary to address the need for similar reforms In 1994, the
committee submitted the report and some of the key recommendations included.

1997 Insurance regulator IRDA set up 2000 IRDA starts giving licenses to private insurers:
Kotak Life Insurance ICICI prudential and HDFC Standard Life insurance first private insurers
to sell a policy 2001 Royal Sundaram Alliance first non life insurer to sell a policy 2002 Banks
allowed to sell insurance plans.
The Insurance Regulatory and Development Authority (IRDA)

The Insurance Act, 1938 had provided for setting up of the Controller of Insurance to act as a
strong and powerful supervisory and regulatory authority for insurance. Post nationalization, the
role of Controller of Insurance diminished considerably in significance since the Government
owned the insurance companies.

But the scenario changed with the private and foreign companies foraying in to the insurance
sector. This necessitated the need for a strong, independent and autonomous Insurance
Regulatory Authority was felt. As the enacting of legislation would have taken time, the then
Government constituted through a Government resolution an Interim Insurance Regulatory
Authority pending the enactment of a comprehensive legislation.

The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for the
establishment of an Authority to protect the interests of holders of insurance policies, to regulate,
promote and ensure orderly growth of the insurance industry and for matters connected therewith
or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance
Corporation Act, 1956 and the General insurance Business (Nationalization) Act, 1972 to end the
monopoly of the Life Insurance Corporation of India (for life insurance business) and General
Insurance Corporation and its subsidiaries (for general insurance business).

The act extends to the whole of India and will come into force on such date as the Central
Government may, by notification in the Official Gazette specify. Different dates may be
appointed for different provisions of this Act.

The Act has defined certain terms; some of the most important ones are as follows appointed day
means the date on which the Authority is established under the act. Authority means the
established under this Act.
Interim Insurance Regulatory Authority means the Insurance Regulatory Authority set up by the
Central Government through Resolution No. 17(2)/ 94-lns-V dated the 23rd January, 1996.
Words and expressions used and not defined in this Act but defined in the Insurance Act, 1938 or
the Life Insurance Corporation Act, 1956 or the General Insurance Business (Nationalization)
Act, 1972 shall have the meanings respectively assigned to them in those Acts

A new definition of "Indian Insurance Company" has been inserted. "Indian insurance company"
means any insurer being a company

(a) which is formed and registered under the Companies Act, 1956
(b) in which the aggregate holdings of equity shares by a foreign company, either by itself or
through its subsidiary companies or its nominees, do not exceed twenty-six per cent. Paid up
capital in such Indian insurance company
(c) whose sole purpose is to carry on life insurance business, general insurance business or
reinsurance business..
INDUSTRY PROFILE

In India, since 1991, liberalization of economic reforms was started. Consequently, many sectors
have been privatized. Life insurance is also privatized since 1999.There is 15 life insurance
companies that got license from IRDA to do insurance business.

Even if the stock market slumps, foreign exchange or foreign direct investment inflows decrease
or if the Indian economy itself slumps, these companies would be able to sustain themselves and
see through the bad times simply because the kind of assets they have is worth billions of dollars.

One more reason for the success of private insurance companies is the kind of products they
offer. Gone are those days when a person has to go to banks when a person has to go to banks for
savings, share markets for investment and insurance companies to get life coverage. Insurance
today has become like a one stop shop, where a person can shop for any item less than one roof.

The functions of Insurance can be divided into two parts:

1. Primary Functions
2. Secondary Functions
3. Other Functions
The primary functions of insurance include the following:

Provide Protection - The primary function of insurance is to provide protection against

future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but can
certainly provide for the losses of risk. Insurance is actually a protection against economic loss,
by sharing the risk with others.

Collective bearing of risk - Insurance is a device to share the financial loss of few among
many others. Insurance is a mean by which few losses are shared among larger number of
people. All the insured contribute the premiums towards a fund and out of which the persons
exposed to a particular risk is paid.

Assessment of risk - Insurance determines the probable volume of risk by evaluating various
factors that give rise to risk. Risk is the basis for determining the premium rate also

Provide Certainty - Insurance is a device, which helps to change from uncertainty to

certainty. Insurance is device whereby the uncertain risks may be made more certain.
The secondary functions of insurance include the following:

Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable

device to prevent unfortunate consequences of risk by observing safety instructions; installation
of automatic sparkler or alarm systems, etc. Prevention of losses cause lesser payment to the
assured by the insurer and this will encourage for more savings by way of premium. Reduced
rate of premiums stimulate for more business and better protection to the insured.

Small capital to cover larger risks - Insurance relieves the businessmen from security
investments, by paying small amount of premium against larger risks and uncertainty.

Contributes towards the development of larger industries - Insurance provides

development opportunity to those larger industries having more risks in their setting up. Even the
financial institutions may be prepared to give credit to sick industrial units which have insured
their assets including plant and machinery.

The other functions of insurance include the following:

Means of savings and investment - Insurance serves as savings and investment, insurance
is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the
purpose of availing income-tax exemptions also, people invest in insurance.

Source of earning foreign exchange - Insurance is an international business. The country

can earn foreign exchange by way of issue of marine insurance policies and various other ways.

Risk Free trade - Insurance promotes exports insurance, which makes the foreign trade risk
free with the help of different types of policies under marine insurance cover.
BACKGROUND

CORPORATE PROFILE

The Kotak Mahindra Group was born in 1985 as Kotak Capital Management Finance Limited.
This company was promoted by Uday Kotak, Sidney A. A. Pinto and Kotak & Company.
Industrialists Harish Mahindra and Anand Mahindra took a stake in 1986, and that's when the
company changed its name to Kotak Mahindra Finance Limited

Kotak Mahindra is one of India's leading financial organizations, offering a wide range of
financial services that encompass every sphere of life. From commercial banking, to stock
broking, to mutual funds, to life insurance, to investment banking, the group caters to the diverse
financial needs of individuals and corporates.

The group has a net worth of over Rs. 6,327 crore and has a distribution network of more than
1300 branches, franchisees, representative offices and satellite offices across cities and towns in
India and offices in New York, London, San Francisco, Dubai, Mauritius and Singapore. The
Group services around 5.9 million customer accounts.

In October 2005 kotak group acquired the 40% stake in kotak prime held by ford credit
(FCI) acquired the stake in Ford credit kotak Mahindra (FCKM) held by kotak group
In may 2006 kotak group bought 25% stake held by Goldman sachs in kotak Mahindra
capital company and kotak securities
Global Indian financial services brand
Highly trusted financial services company
Value creation for all stakeholder

KOTAK LIFE INSURANCE

 Kotak life insurance was started from 2001.
Kotak Mahindra ties up with Old Mutual plc. For the Life Insurance. Business. Old
mutual plc is a 161 year of experience and it is a 12th largest company in the word
Quality player in Indian life insurance industry
Consistent performer in industry
Market leader in the Guaranteed fund space
Presence in 109 cities with 105 branches , 25000 life advisors corporate agent, 24 urban
co-op banks
THE PARTNERSHIP AND LINEAGE

A 74%-26% JOINT VENTURE BETWEEN

KOTAK MAHINDRA AND OLD MUTUAL

KOTAK LIFE INSURANCE

Brand equity
Entrepreneurial employees
Branch network
Knowledge of the Indian market
Access to customer base
Distribution associates
OLD MUTUAL PLC

Domain knowledge
Technology
Product innovation
Training expertise
Global perspective
System and processes
Multi channel management

Old Mutual was established more than 150 years ago. Old mutual plc. is a world-class
international financial service company. It owns the largest companies in the following areas in
South Africa.

They are:
1. Life Insurance Company
2. Asset Management Company
3. Bank
4. Non-life insurance company

It has been developed into an International financial services group whose activities are focused
on asset gathering and asset management. The Old Mutual Group offers a diverse range of
financial services in three principal geographies: South Africa, the United States and the United
Kingdom. The company is listed on the London Stock Exchange with a market capitalization of
approximately $6 billion and is a member of the elite FTSE 100 index. In the 2003 rankings of
the World's 500 largest corporations by Fortune magazine, Old Mutual climbed 87 places to
position number 366 and was also listed as the 14th largest insurance
company in the world.

Old Mutual is the largest financial services business in South Africa, through its life insurance,
asset management, banking and general insurance operations. The company serves 4 million life
insurance policyholders and employs over 13 000 South Africans in its local operations.

In the USA, Old Mutual is one of the top ten fixed annuity businesses offering an array of
specialist asset management skills through its 23 asset management businesses. The companys
US Life business recorded sales of $4 billion at the end of 2002. Operations in the United
Kingdom are focused on wealth management, through Gerrard as one of the leading private
client stock broking businesses in the UK.
Build-up of businesses

5
The proper study can be conducted with the help of various kotak investment plans. The plans
are like:

PRODUCTS:-

Kotak provide a different type of plans-:

Protection Plans:

Kotak Loan Protection Plan:

Kotak Loan Protection Plan is a protection plan that helps share the burden of your loan.

Kotak Term/Preferred Term Plan:

The Kotak Term/Preferred Term Plan is a pure risk cover plan that provides you with a
high level of protection at nominal costs.

Kotak Eternal Life Plans :

Kotak Eternal Life Plans are participating whole life plans that provide enhance protection
till the golden age of 99.
 Savings & Investment Plans:

Kotak Platinum Advantage plus:

Youve lived life on your own terms; always done what youve believed in. You are used to
having the luxury of choice and the power to control.

Kotak Smart Advantage:

Kotak Smart Advantage is an intelligent unit-linked plan that is based upon the idea of
regular savings and systematic accumulation of wealth in the long term.

Kotak Safe Investment Plan:

Kotak Safe Investment plan is the ideal investment plan for you with its unique Seal of
Guarantee offer that not just gives yosu the best of bull markets but also eliminates any capital
loss in falling markets.

Kotak Flexi Plan:

Kotak flexi plan offers you an ideal market-linked investment plan that helps you create
your own financial future by offering you the flexibility and control over your money.

Kotak Platinum Advantage Plan:

Kotak Platinum Advantage Plan features capital protection, embedded investment advice,
life cover and aggressive market linkessssd growth options.
Kotak Easy Growth Plan:
Kotak Easy Growth plan, a single premium investment plan that generates value for you
for whole life as well as provides protection to your family in case of unforeseen events.

Kotak Capital Multiplier Plan:

The Kotak Capital Multiplier Plan is the only plan of its kind that allows you to enjoy
returns even beyond maturity.

Kotak Money Back Plan:

This plan offers the key benefit of cash lump sums at periodic intervals of five years
ensuring that you are able to meet any of your financial obligations.

Kotak Endowment Plan:

Kotak Endowment Plan is a participating endowment plan that provides you an avenue for
long term regular investments to accumulate a lump sum on maturity.

Kotak Premium Return Plan:

The premium Return Plan will get you the dual benefit of a risk cover and savings, with
minimal paperwork and procedures.

Kotak Sukhi Jeevan Plan:

Sukhi Jeevan is a long-term savings and protection plan that keeps pace with your
changing needs at every step of life.

Retirement Plans:
Kotak Secure Retirement Plan:
An ideal retirement solution is one that gives you complete flexibility and peace of mind, not
only while you save for your retirement but also after you retire.

Kotak Retirement Income (Unit Linked):

Kotak Retirement Income Plan is an ideal retirement solution that gives you complete
flexibility and peace of mind, not only while you save for your retirement but also after you
retire.

Kotak Long Life Secure Plus:

Kotak Long Life Secure Plus is a unit-linked plan that ensures your investment gives
maximum protection to secure your family's future and their financial independence

Kotak Long Life Wealth Plus :

Kotak Long Life Wealth Plus is an intelligent investment plan that helps you builds your
future net worth with power-packed features that actively monitor and manage your investment
growth

Kotak Retirement Income Plan :

The Kotak Retirement Income Plan is a savings plan designed to meet your post-retirement
needs. It is a plan that gives you "Jeene ki azaadi".

Child Plans:
Kotak Head start Child Plans:
The head start child plans are specially tailored, cost effective plans that aim to give your
children the financial means to pursue his or her dreams

Kotak Child Advantage Plan:

The Kotak Child Advantage Plan is an investment plan designed to meet your child's future
financial needs.

Title of the project

Effectiveness of promotional activities of Kotak life insurance

Rationale of the study

The purpose of the study is to analyze the various promotional strategies related to Kotak life
insurance in the market. To find out market growth and market share of Kotak life insurance.

These promotional activities help in targeting the desired market and find out the interest area of
the people. We main focus towards fulfillment of answers of SWOT analysis.

S refers to the strength of the company i.e. the area in which company is well equipped and with
help of these it is able to survive well in the market.

W refers to the weakness of the company i.e. the area in which company is lagging and is not
able to meet the required demand of the general public.

O refers to the opportunities for the company i.e. the unknown area of the company. It focuses on
the area in which company is not working or is not aware of it.

T refers to threats of the company i.e. the competition faced by the company due to which it
always have to maintain a good competitive spirit in the operation of the company.
 CHAPTER 2

OBJECTIVE AND SCOPE OF THE STUDY

The objective of my study is as follows:-

Proper understanding and analysis of life insurance industry.

To know about brand awareness of Kotak Life Insurance and customers preference about

Kotak Life Insurance.

Conduct market survey on a sample selected from the entire population and derived opinion

on that research.

According the market survey come know about how much potential of insurance market in our

city.

And base on analysis of the result thus obtained make a report on that research.

Training aims at recruiting maximum number of Life Advisors and to Sell the maximum

policies for the company and bring the business for the company which ever is going at the
particular point of time.

Along with it I will be gaining the thorough knowledge of insurance sector. This will give me

in more confidence in marketing products given to me.

As the Kotak Life Insurance well reputed company in India its great chance for me to

observed different products launch by other competitor companies like ICICI prudential, Bajaj
alliance, LIC, Max New York life etc. In all, it is to understand the overall working of the Life
insurance sector.
The objective behind the project is as follows:

To find the right candidate.

To about their family background, occupation, social relation, Qualification, Age.

Finalize candidates for the IRDA training

Limitation:

Some of the difficulties and limitations faced by me during my training are as

follows:

Lack of awareness among the people This is the biggest limitation found in this

sector. Most of the people are not aware about the importance and the necessity of the insurance
in their
life. They are not aware how useful life insurance can be for their family members if something
happens to them.

Perception of the people towards Insurance sector People still consider

insurance just as a Tax saving device. So today also there is always a rush to buy an Insurance
Policy only at the end of the financial year like January, February and March making the other 9
months dry for this business.

Insurance does not give good returns Still today people think that Insurance does

not give good returns. They are not aware of the modern Unit Linked Insurance Plans which are
offered by most of the Private sector players. They are still under the perception that if they take
Insurance they will get only 5-6% returns which is not true nowadays. Nowadays most of the
modern Unit Linked Insurance Plans gives returns which are many times more than that of bank
Fixed deposits, National saving certificate, Post office deposits and Public provident fund.

Lack of awareness about the earning opportunity in the Insurance sector

People still today are not aware about the earning opportunity that the Insurance sector gives.
After the privatization of the insurance sector many private giants have entered the insurance
sector. These private companies in order to beat the competition and to increase their Insurance
Advisors to increase their reach to the customers are giving very high commission rates but
people are not aware of that.

Increased competition Today the competition in the Insurance sector has became very

stiff. Currently there are 14 Life Insurance companies working in India including the LIC (life
insurance Corporation of India). Today each and every company is trying to increase their
Insurance Advisors so that they can increase their reach in the market. This situation has created
a scenario in which to recruit Life insurance Advisors and to sell life Insurance Policy has
became very difficult.
Scope of study

A big boom has been witnessed in Insurance Industry in recent times. A large number of New
players have entered the market and are trying to gain market share in this rapidly Improving
market. The study deals advertisement given by Insurance Companies. The study then goes on to
evaluate and analyze the findings of the promotional activities so as to present a clear picture of
media strategy the Insurance players.

The Company

The result of the survey will help the company to know about the effectiveness of various life
insurance advertisements and how much advertisement is helpful in buying decision.

The results will also help the company to trace the loop holes and then take the corrective
measures to rectify them.

The Industry

This is a limited study which takes into consideration the responses of 50 people. This data can
be exported to take decision for promotional strategy across the industry. The significance for the
industry lies in studying these trends that emerge from the study. It is a rapidly changing and
evolving sector. People are only beginning to wake up to its vast possibilities. A study like this
can attempt to guide the future of the industry based on current trends.
The Researcher

To facilitate and provide all the useful information of the study, the company, the insurance
industry and also provide marketing ways, methods of kotak life insurance.
 CHAPTER 3

REVIEW OF LITERATURE AND THE

THEORETICAL PERSPECTIVES
Promotional strategies in any organization

A successful product or service means nothing unless the benefit of such a service can be
communicated clearly to the target market. An organization promotional strategy can consist of:

1. Advertising: Is any non-personal paid form of communication using any form of mass media.

2. Public relations: Involves developing positive relationships with the organization media
public. The art of good public relations is not only to obtain favorable publicity within the media,
but it is also involves being able to handle successfully negative attention.

3. Sales promotion: Commonly used to obtain an increase in sales short term. Could involve
using money off coupons or special offers.

4. Personal selling: Selling a product service one to one. By personalizing advertising, response
rates increase thus increasing the chance of improving sales.

5. Direct Mail: Is the sending of publicity material to a named person within an

Organization
Message & Media Strategy

An effective communication campaign should comprise of a well thought out message strategy.
What message are you trying to put across to your target audience? How will you deliver that
message? Will it be through the appropriate use of branding?

Study of Promotional Strategy of kotak life insurance Logos or slogan design? The message
should reinforce the benefit of the product and should also help the company in developing the
positioning strategy of the product.

Companies with effective message strategies include:

Om Kotak: Jeene Ki Azaadi

ICICI PRUDENTIAL: Jeetye Raho

Nike: Just do it.

Media strategy refers to how the organization is going to deliver their message. What aspects of
the promotional mix will the company use to deliver their message strategy?

Where will they promote? Clearly the company must take into account the readership and
general behavior of their target audience before they select their media strategy. What
newspapers do their target market read? What TV programmers do they watch?

Effective targeting of their media campaign could save the company on valuable financial
resources.
Promotion and Advertising:

The level of demand is latent and will have to be activated considerably. The market needs to be

developed. Greater awareness of insurance and the need to have it as a protection tool rather than

as a tax planning measure needs to be appreciated by the Indian people. Various communications

tools including advertising, direct marketing and road shows contribute to all this and different

companies take different approaches on these.

 CHAPTER IV

RESEARCH METHODOLOGY
1. Research Objectives

A) Primary Objective

1. To understand & measure the impact of advertising in the market.

2. To measure the effectiveness of advertisement / promotional activities for a

particular product class and corporate advertising.

3.To understand and measure the affect of advertising in brand-building, brand

re-call and finally the choice of a plan while buying it.

B) Secondary objective

1. To know the promotional strategies of Kotak life insurance.

2. To know how they face their competitors strategies.

3. To know how they survive in the cutthroat competition.

RESEARCH METHODOLOGY

Research methodology is a strategy that guides a research in providing answers to

research questions and for this, research survey is being done. Accuracy of the study
depends on the systematic application of the method. The researcher has to decide the
method to be used that helps him to get a desired direction in a systematic way. This study
in the following manner.
Research always starts with a question or a problem. Its purpose is to question through the
application of the scientific method. It is a systematic and intensive study directed towards a
more complete knowledge of the subject studied. Marketing research is the function which links
the consumer, customer and public to the marketer through information- information used to
identify and define marketing opportunities and problems generate, refine, and evaluate
marketing actions, monitor marketing actions, monitor marketing performance and improve
understanding of market as a process.

Marketing research specifies the information required to address these issues, designs, and the
method for collecting information, manage and implemented the data collection process,
analyses the results and communicate the findings and their implication.

I have prepared our project as descriptive type, as the objective of the study demands the answers
of the question related to research.

The Marketing Research Process

As marketing research is a systemic and formalized process, it follows a certain sequence of
research action. The marketing process has the following steps:

Formulating the problems

Developing objectives of the research

Designing an effective research plan

Data collection techniques

Evaluating the data and preparing a research report

There are two types of data collection method use in my project report.
 Primary data
Secondary data.
For my project, I decided on Primary data collection method for observing working of
company and approaching customers directly in the field, tele-calling, cold calling, campaigning
and through references to know their interest in business with company in my project and also
make questionnaire for creating database of various market survey.

I decided on Secondary data collection method was used by referring to various websites,
books, magazines, journals and daily newspapers for collecting information regarding project
under study.

DATA COLLECTION

After the research methodology, research problem in marketing has been identified and selected;
the next step is together the requisite data.

There are two types of data collection method primary data and secondary data.

In our live project, we decided primary data collection method because our study nature does not
permit to apply observational method. In survey approach we had selected a questionnaire
method for taking a customer view because it is feasible from the point of view of our subject &
survey purpose. We conducted 200 sample of survey in our project.
Methodology Adopted

Questionnaire Design

The questions were designed in an easily understandable way with the help of information
required. That the respondents may not have any difficulty in answering them. The questionnaire
also contained a comments section. This section was included so as to get opinion of the people
regarding the Kotak life insurance.

Random Sampling

Sampling can be defined as a part of population. Thus random sampling may be defined as
the selection of a portion from the whole population in which each elements of the
population has an equal chance of being selected. A more please definition is that each
element in the population has a non-zero and known probability of selection a randomly
drawn sample is an unbiased sample. In this research survey 50 people were surveyed at
random to get the relevant information.

Study of Promotional Strategy of Kotak life insurance

Sample Size: The sampling techniques used in this project are probability sampling
techniques and the methods used in cluster sampling.

Sampling Unit: The respondents who were asked to fill out questionnaires are the
sampling units. These comprise of people of different research areas like maharanibagh, Nehru
place, Faridabad, south x etc.

Sample size: The sample size was restricted to only 50 between age group of 25-40,
which comprised of mainly peoples from different regions of Delhi and Faridabad.

Sampling Area: The area of the research was Delhi and Faridabad.
 CHAPTERS 5

OBSERVATIONS, DATA COLLECTION,

ANALYSIS, AND INTERPRETATION
Observations

To individuals:

i) contacting customer:
the recruitment starts from the point when we start finding contact information about
the customer. After finding contact information an appointment is fixed with the
prospective customer.
Problems:
1. denial for appointment due to bad name gathered by insurance agents due to
excessive calling.
2. avoiding new agents due to prior relationship with their regular agents.

ii) Meeting with the customer:

In this stage we go to attend the meeting fixed with the customer at a place desired by
the customer and according to the time provided by the customer. The meeting is
always fixed according to the convenience of the customer. Most of the meetings take
place at the customers office.

iii) Collecting cheque and documents:

after the consumer is satisfied with the policy, the advisor asks for a cheque or cash
(only applicable in yearly premiums). also we collect the essential documents and all
the essential information required to fill in the application form.

iv) submitting the cheque and documents at branch:

 After collecting the documents, information and cheque from the customer, we
submit all at the branch operations department. In case of any discrepancies in the
information or documents the same are sent back to the customer for correction.

After this the same procedure is followed as in the case of individual selling.

procedure for canopy

This includes putting up stalls in various public places. these public places include hospitals,
malls, complexes and places having well organized movement of public. these stalls are placed
by financial advisors of the company mostly to generate sales leads and in few cases to gather
some other data.
Procedure:

1) Getting permission from the authorities:

The first step in putting up a canopy is getting permission from the authorities who own
the place where the canopy is to be placed. these authorities have fixed charges for
putting up a canopy in their premises.

2) Setting up the canopy:

The next step in this procedure is setting up the canopy in the premises up early in the
morning. These canopy generally run for the complete day; except for the case of
hospitals as the work timings in case of hospitals are restricted to the o.p.d. timings.

3) Contacting the customer in the premises:

In this method of selling the advisors go up to the potential customers roaming around in
the area and also advisors talk to the people who come up to the stall to enquire about the
policies.

At this stage only contact information is collected and there basic requirements are
collected.

Data Collection
Structured Questionnaire

In this collection data, structured questionnaire is used as a tool by asking a set of standardized
questions to know the effect of Life Insurance Advertisement and behavior of the people for the
Kotak life insurance.

Interview

The next step involved in collecting information requires discussion with people. Thus valuable
information was gathered informal friendly talks with the people.

Secondary Data Collection

Various websites were consulted to collect literature relevant to the topic.

Interpretation

Interpretation refers to the task of drawing inference from the collected facts after an analytical
study, in fact it is a search for broader meaning of research findings it is through interpretation
that the researcher can well understand the abstract principle that respondents beneath his
findings. The simple statistical tools will used to analyze the data collection, Bar Graphs and pie
chart have been used to illustrate the findings diagrammatically. The scores for advertisement
were compiled on spontaneous recall, aided recall and likeability. The top ads are selected on the
basis of their score.

DATA ANALYSIS
1. DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS

BENEFITS NO. OF RESPONDENTS SHARE(%)

Cover Future Uncertainty 55 55
TAX DEDUCTION 20 20
FUTURE INVESTMENT 25 25
TOTAL 100 100

INTERPRETATION

1. 55% of the respondents believe that covering future uncertainty is the biggest benefit of an
insurance policy.
2. Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and future
investments respectively.
2. DATA PROVIDES FEATURES OF INSURANCE POLICY THAT ATTRACTED
RESPONDENTS

FEATURE NO. OF RESPONDENTS SHARE(%)

Money Back Guarantee 15 15
Larger Risk Coverance 37 37
Easy Access to Agents 7 7
Low Premium 30 30
Companys Reputation 11 11
TOTAL 100 100
INTERPRETATION
Majority of the respondent (37%) found Larger risk coverance as the most attracted feature of
the all.
3. DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

POLICY TYPE NO. OF SHARE(%)

RESPONDENTS
LIFE POLICY 75 75
NON LIFE POLICY 25 25
BOTH 45 45

INTERPRETATION
75% of the respondents have Life Insurance Policy while 45% have both. (The % is calculated
out of 280 positive response).
4. DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE (%)

A saving tool 81 81
A tax saving device 74 74
A tool to protect your family 100 100

INTERPRETATION
1.81% of the respondents have perception of Insurance being a saving tool.

2.74% of the respondents have perception of Insurance being a tax saving device.

3.100% of the respondents are with the view that Insurance is a tool to protect your family.
5. DATA SHOWS PEOPLES HAVING INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE (%)

YES 70 70
NO 30 30

INTERPRETATION

1. Of the sample size of 400 surveyed respondents 70% of the respondents are having Insurance
policy.

2.30% of the respondents are either not having any Insurance policy at present or their policy
is already matured.

3. And at present 100% of the respondents are with the view that Insurance is a tool to protect
your family.
6. DATA SHOWS BUYING PROCESS OF THE PEOPLE

BUYING PROCESS NO. OF RESPONDENTS SHARE (%)

Customer approached 45 45
Insurance
company/Agent
Company/agent approached 55 55
Customer
Total 100 100

INTERPRETATION
1.44.5% of the respondents approached the Insurance Company / Agent.
2. Whereas, 55.5% of the respondents were approached by the Company /Agent.
7. DATA SHOWS REASONS BEHIND FOR INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE (%)

Tax saving 80 80
Saving / Investment 80 80
Family protection 100 100

INTERPRETATION

1.71% of the Respondents opted for Insurance for tax saving benefits.

2.71% of the Respondents opted for saving / Investments.

3.But all of them, i.e. 100% of the respondents have opted for insurance for their family
protection.
8. DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO POLICY

RESPONSE NO. OF RESPONDENTS SHARE (%)

Satisfied 60 60
Not satisfied 40 40
Not Responded 0 0
TOTEL 100 100

INTERPRETATION
1.60% of the respondents are more or less satisfied with their existing policy.
2.40% of the respondents are not satisfied with their existing policy.
3. In this case all of those who have taken a policy have responded.
9. DATA SHOWS NUMBER OF RESPONDENTS PAYING TAX

RESPONSE NO. OF RESPONDENTS SHARE (%)

PAYING TAX 100 100
NON PAYING TAX 0 0
TOTAL 100 100

INTERPRETATION
Of the sample size of 400 respondents, all the respondents are paying tax.
10. DATA SHOWS RESPONDENTS INVESTMENTS FOR TAX SAVING

INVESTMENTS NO. OF RESPONDENTS SHARE (%)

LIC 51 51
NSC 33 33
BONDS 32 32
PPF 25 25
PF 21 21
EPF 11 11
INTERPRETATION

1.51% of the respondents save their tax by investing in LIC, which is the highest among all
Investment. This shows that most people for getting taxes benefits invest in LIC.

2.25% of the respondents do their tax saving by investing in NSC.

3.25 % of the respondents to their tax saving by investing in bonds.

11. DATA SHOWS RESPONDENTS PERCEPTION ABOUT BEST FORM OF
INVESTMENT FOR SECURING THEIR FUTURE

RESPONSE NO. OF RESPONDENTS SHARE (%)

FIXED ASSETS 75 75
BANK DEPOSITS 11 11
JEWELLERY 25 25
SECURITIES I. E. BONDS 40 40
MFS
SHARES 10 10
INSURANCE 70 70
INTERPRETATION

1.25% of the respondents as with the view that Fixed Assets is the best form of investment for
securing their future.

2.5% of the respondents are with the perception that Insurance is the best form of investment for
securing their future, which is one of the highest and this shows that insurance is an important
key for securing your future.
12. DATA SHOWS WHAT PEOPLE INTENT TO GAIN FROM THEIR
INVESTMENT

RESPONSE NO. OF REPONDENTS SHARE (%)

SAVING & RETURN 100 100
SECURITY 90 90
TAX BENIFIT 71 71

INTERPRETATION

1.100% of the respondents intent to gain saving and returns from their investment.

2.90% of the respondents intent to gain security from their investments.

3. Whereas, 71.75% of the respondents intent to gain tax benefits from their investments.
13. DATA GIVES PEOPLES PERCEPTION ON APPROPRIATE AGE FOR BUYING
INSURANCE

RESPONSE NO. OF RESPONDENTS SHARE(%)

AFTER 25 YEARS 29 29
AFTER 35 YEARS 10 10
AFTER 45 YEARS 0 0
ANYTIME 61 61
INTERPRETATION

1.29% of the respondents are with the view that insurance should be bought after the age of 25
years.

2.10.5% of the respondents is with the view that insurance should be buyed after the age of 35
years.

3. Whereas, 60.5% of the respondents are with the view that buying of insurance do not have
anything to do with age i.e. there is no age limitations. It can be purchased any time according to
the need.
14. DATA SHOWS PEOPLE OPINION ABOUT INDIAN INSURANCE COMPANIES

RESPONSE NO. OF RESPONDENTS SHARE (%)

Rigid plans 67 67

Non user friendly 29 29

Unsatisfactory services 26 26
Non Aggressive 35 35
Satisfactory 24 24
Good 10 10
VERY GOOD 0 0
INTERPRETATION

1.67% of the respondents have the opinion that Indian Insurance Companies have Rigid plans

2.29.5% feel that Indian Insurance companies are Non-user friendly.

3.26.5% feel that services of Indian Insurance companies are Unsatisfactory.

4.35.75% of the respondents are with the view that Indian Insurance companies are
Nonaggressive.

5.24% of the respondents feel that products and services of Indian Insurance companies is
Satisfactory.

6.Whereas only 10.25% feel that it is Good enough.

And according to the data, no single person has felt that it is very good.
15.DATA SHOWS WHAT PEOPLE WOULD LOOK FOR IN AN INSURANCE
COMPANY

RESPONSE NO. OF SHARE(%)

RESPONDENTS
A trusted name 82 82
Friendly service & 71 71
responsiveness
Good plans 81 81
Accessibility 49 49
INTERPRETATION

1.82% customers look for a trusted name in a company for insurance.

2.81.5% customers look for a good plan in a company for insurance.

3. Friendly service & responsiveness and Accessibility are also important factors looked by
customers in a company.
16. DATA SHOWS PEOPLE PLANNING FOR NEW INVESTMENTS

RESPONSE NO. OF SHARE(%)

RESPONDENTS
PLANNING 87 87
NOT PLANNING 13 13
TOTAL 100 100

INTERPRETATION

1. Only 12.5% of the customers contacted are not planning for new investments presently.

2. Whereas, 87.5% of the customers are still planning for new investments this can be a great
potential for Reliance Life Insurance to take them on their favor.
17. DATA SHOWS PEOPLE INTERESTED IN GOING FOR INSURANCE IF
ASERVICE PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVICE
&PRODUCTS

RESPONSE NO. OF SHARE (%)

RESPONDENTS
YES 43 43
NO 44 44
UNCERTAIN 13 13
TOTAL 100 100
INTERPRETATION

1. The interested customers i.e. 43% are ready to go for insurance even away from a city if
services and products are worthwhile, which again is a good prospect (potential) for Reliance
Life Insurance to take them on their favor.
 CHAPTER 6

FINDINGS

SUGGESTIONS & RECOMMENDATIONS

CONCLUSIONS
FACTS & FINDINGS

1. As the people think that insurance is a tool to protect their family & a tax saving device. They
are aware of the fact & realizing its, importance. The company should try to expand & build up
its infrastructure because there is a large potential for insurance in India.

2. Company should come up more and more branches in New Delhi. With the objective and
goals to meet the demands & expectations of the public. Because the entrance of private players
will increase the competition and it would be a tough task to secure a good position in market.

3. Since Kotak life insurance is leading with several companies

Policies it should be easy for them to penetrate into the market and secure a good position if they
pay greater attention to the service part provided to their customer and thereby forming a long
and trusted relationship.

4. As seen from the survey that at present 70% of the customer are having insurance policy out
of which 87.5% of the customer are planning for new investments. So it can be a good potential
for the company and they should make an attempt to trap these customers. 5.43% of the customer
is even ready to go for insurance if a service provider away from their home is providing it. But
intend they should provide good products and services. The company should try to convince
these customers and get them in its favor.
SUGGESTIONS & RECOMMENDATIONS

1. As the people think that insurance is a tool to protect their family & a tax saving device.
They are aware of the fact & realizing its, importance. The company should try to expand &
Build up its infrastructure because there is a large potential for insurance in India..

2. Since Kotak life insurance is leading with several companies

policies it should be easy for them to penetrate into the market and secure a good position if
they pay greater attention to the service part provided to their customer and thereby forming
a long and trusted relationship.

3. As seen from the survey that at present 70% of the customer are having insurance policy
out of which 87.5% of the customer are planning for new investments. So it can be a
good potential for the company and they should make an attempt to trap these customers.
4. 43% of the customer is even ready to go for insurance if a service provider away from
their home is providing it. But intend they should provide good products and services.
The company should try to convince these customers and get them in its favor
CONCLUSIONS

Our exhaustive research in the field of Life Insurance threw up some interesting trends which
can be seen in the above analysis. A general impression that we gathered during Data collection
as it is the most desirable tool of conducting any promotion was the immense awareness and
knowledge among people about various companies and their insurance products. People are
beginning to look beyond LIC for their insurance needs and are willing to trust private players
with their hard earned money.

People in general have been impression by the marketing and advertising campaigns of
insurance companies. A high penetration of print, radio and Television ad campaigns over the
years is beginning to have its impact now.

Another heartening trend was in terms of people viewing insurance as a tax saving and
investment instrument as much as a protective one. A very high number of respondents have
opted for insurance for such purposes and it shows how insurance companies have been
successful to attract public money in recent times.

As we know that promotion is very important for any organization so it is very essential for any
company to opt for proper promotional schemes.

1. Before investing in any fund, people just like to go by the different promotional schemes
which are being used by the various companies for their promotions.
2. Different promotional schemes help in deciding the people.
3. These promotional activities lead in motivating the people and also influence the people
towards the company.
4. To increase the brand awareness of the company.
5. To know all the facilities of the company which the company is providing to its
customers.
6. In todays corporate scenario, promotional activities are very important tool in the hands
of marketing manager.
ANNEXURE
 QUESTIONNAIRE

NAME:-

AGE:-

OCCUPATION: - 1. Service 2. Business 3. Self-employed 4. Retired

INCOME CATEGORY:

a. 2 to 3 lack p.a.
b. 3 to 5 lack p.a.
c. 5 to 7 lack p.a.
d. 7 to 10 lack p.a.
e. Above 10 lack p.a.

1. In which company do you like to take insurance?

a. Lic
b. Kotak
c. Hdfc
d. Icici prudential
e. Sbi life

2. What are the factors of taking the insurance by an individual?

a. cover future uncertainity
b. tax deduction
c. future investment
3. What are the factors of attracting the people towards the insurance ?
a. Money back guarantee
b. Larger risk coverance
c. Easy access to agents
d. Low premium
e. Companys reputation

4. Do you have an insurance policy?

a. Yes
b. No

5. What is your perception towards insurance?

a. A saving tool
b. Tax saving device

6. What is your of getting the insurance?

a. Through agent
b. By approaching the company

7. Are you satisfied with your insurance policy?

a. satisfied
b. Not satisfied
c. Not responded

8. Are you paying tax?

a. Yes
b. no
9. What are your tools of saving the tax?
a. Lic
b. Nsc
c. Bonds
d. Ppf
e. Pf

10. What are your ways of doing the investment for securing the future?
a. Fixed assets
b. Bank deposits
c. Jewellery
d. Securities
e. Shares
f. Insurance

11. What are your expectations towards the insurance policy?

a. Saving and return
b. Security
c. Tax benefit

12. What is your perception about age before buying the insurance?
a. After 25 years
b. After 35 years
c. After 45 years
13. What is your opinion towards insurance companies?
a. Rigid plans
b. Non user friendly
c. Unsatisfactory services
d. Non aggressive
e. Satisfactory
f. Good
g. Very good

14. Are you planning to take up a new investment?

a. Yes
b. No

15. Do you like to take up the insurance away from your city?
a. Yes
b. No
c. Uncertain
BIBLIOGRAPHY
www.irdaindia.com

http://www.licindia.com/
http://www.rbi.org.in/Scripts/PublicationsView.aspx?id=9545
http://newspp.blogspot.com/2009/03/declining-inflation.html

http://en.wikipedia.org/wiki/Insurance_in_India
www.rediff.com

www.yahoo.com

www.kotak.co.in

www.kotaklifeinsurance.com

Marketing management Philips Kotler

Marketing research-Kothari