QUESTIONNAIRE

ASTUDYONTHEBEHAVIOURALPATTERNOFTHELICPOLICYHOLDERS
WITHREFERENCETOLIFEINSURANCESCHEMESINTHE

MADURAIDIVISIONOFTHELIFEINSURANCECORPORATIONOFINDIA

PartI

INTERVIEWSCHEDULEFORPOLICYHOLDERS

I.PersonalInformation

1.1
NameofthePolicyholder
:

(writingyournameisoptional)

1.2
Age(yearscompleted)
:

1.3
Sex
:
Male[
]
Female[]
1.4
MaritalStatus
:
Married[
]
Unmarried[]
1.5EducationalQualification
:

1.6
Occupation
:

1.7
MonthlyIncome
:
Rs.

1.8
Numberofpersonsinfamily
:

1.9Detailsofemploymentoffamilymembers(writingnameisoptional)

Sl.
Name
Relationship
MonthlyIncome
No.
viii

1.10AreyouanIncomeTaxAssessee? Yes[] No[]

II.UtilizationofLifeInsurancePoliciesTakenbythePolicyholders

2.1WhogaveyoutheideaofInsurancePolicy?

Selfdecisions
[
]
Friends
[
]
LICAgents
[
]
Relatives
[
]
LICEmployees
[
]
ExistingPolicyholders[]

DoyouthinkthatbytakingpolicyinLICyouparticipateinnonbuilding
activities?

Yes
[
]
No
[

2.3
Doyouknowallthetermsandconditionsofpoliciestakenbyyou?

Yes
[
]
No
[

2.4
Haveyoueverallowedanyofyourpoliciestolapse?

Yes
[
]
No
[

Ifyes,pleasefurnishthefollowingdetails
Sl.
TypeofPolicyLapsed

ReasonforLapsing

Whetherreceived

No.

(Yes)or(No)
ix

2.5DidyousurrenderprematurelyanyofyourpoliciesYes[]No[]

Ifyespleasegivethefollowingdetails

Sl.No.
TypeofPolicySurrendered
ReasonforSurrendering

NatureofpolicytakenbythePolicyholders

WholelifePolicy

EndowmentPolicy

MoneybackPolicy

UnitLinkInsurancePolicy

WhetheranyadditionalInsurancePolicywastakenbythePolicyholders

Yes[] No[]

AmountassuredonPolicy

PeriodofPolicyTaken
x

2.10WhoselifeisInsured

Self [ ] Dependant[ ]

2.11Hasanyloanbeenraised?

Yes [ ] No [ ]

III.InformationonInvestment

DoyouprefersavingmoneythroughanyotherprivateFinancialOrganization?

Yes[
]

No

[
]

3.2DetailsofFinancialInvestments

Sl.
Purposeof
In
In

In
In
Chit
Other

Post
Private

Total

LIC
Banks

funds
forms

No.
Investment

office
Concern
Rs.
Rs.

Rs.
Rs.

Rs.
Rs.
Rs.

1.
Welfareof

theSavings

forChildren
2.
Savingsfor

oldage

provision

3.
Savingsfor
TaxPlanning

throughLIC

4.
Ordinary

Loantaken
inLIC

5.
Housing

Loantaken

inLIC
6.
Savingsfor

other

purposes
xi

3.3DetailsofotherformofInvestments

Sl.

Particulars

TotalInvestmentat

No.

Present(Rs.)

1.

Gold

2.

Lands

3.
Buildings

4.

HouseholdEquipments

5.

OtherInvestments

IV.AttitudeofthePolicyholders

Ticktheboxaccordingtoyourpreference
SA
A
N
D
S.D

1.

Remittanceofpremiumtakesalittletimeinthe

branchesofthecorporation
2.

Despatchofpolicybondisdelayedbythe

corporation.

3.

Transferofpolicyfromonebranchtoanotheris

easy
4.

Rulesofthecorporationformedicalexamination

ofthepurposearestrict.

5.

PolicycounsellingisdonebytheLICagentsina

wisemanner.
6.

AmountofloansanctionedbyLifeInsurance

Policyislow.

7.

Premiumratesarelow.
8.

Bonusratesarelow.

9.

TheLICcaterstotheinsuranceneedsofallclasses

ofcitizensinIndia.
xii

10.
Thecorporationdoesnotrenderanyservice

towardsthewelfareofthesociety.

11.
Investmentinthecorporationpromotesre

investment.

12.
AdvertisementsoftheLICdonotinfluence

personstotakeuppolicies.

13.
Availingofpolicyloaniseasyinthecorporation.

14.
Availingofhousingloaninthecorporationis

difficult.
15.
RevivaloflapsedpolicyismadeeasyintheLIC.

16.
SalespromotiontechniqueoftheLICagentsdo

notinfluencethepeopletotakeupLifeInsurance

Policies

17.
TheLICsettlestheclaimsofthePolicyholders

promptly.

18.
InitialpremiumgiftedbytheLICagents

influencespeopletotakeupLifeInsurance

Policies

19.
TheLICagentsrenderservicestopolicyholders

evenaftersecuritybusiness.

20.
Existingpolicyholdersdonotsuggesttonon

policyholderstotakeuplifeinsurancepolicies.

SAStronglyAgree,AAgree,NEitheragreenorDisagree,DDisagree,S.D.Strongly
Disagree
xiii

V.Indicateyourlevelofagreementwiththefollowingstatements:

Sl.
Factors
Strongly
Agree
No.
Disagree
Strongly

No.

Agree

Opinion

Disagree

1.
EasyProcedure
2.
LocationalProximityCustomized

3.
TaxRebates

4.
GovernmentServiceProvider
5.
ClaimSettlementtime

6.
BrandImage

7.
Greetings
8.
CustomerCareCampus

9.
FreeGifts

10.
AfterSalesServices

11.
SinglePremium(onetimepayment)
12.
AnnualPayment

13.
HalfYearlyPayment

14.
QuarterlyPayment
15.
MonthlyPayment

16.
SurrenderofPolicy

17.
LoanAgainstPolicy
18.
RevivalofLapsePolicy

19.
Riskcoverageduetonatural/

accidentaldeath
20.
Riskcoverageduetopermanent

disability

21.
Riskcoverageundercriticalillness
xiv

Availabilityofgraceperiod,underpolicyfordepositingpremium

Lowerinterestratesbeingchargedtowardscalculationofpenaltyamountbedelayed.

ImportanceassignedtotheadviceofProfessional/Consultants.

WeightagegiventotheadviceofInsuranceAgents

Longmaturityperiod

Mediummaturityperiod

Shortmaturityperiod

SAStronglyAgree,AAgree,NEitheragreenorDisagree,DDisagree,

S.D.StronglyDisagree

VI.GeneralInformation

AreyousatisfiedwiththeproceduresadoptedbytheLICforsanctioningof
Loan

Yes[]

No[
]
6.2
DoyouthinktherateofinterestchargedbytheLIConvariousloansis

reasonable

Yes[
]
No[
]
6.3
WillyoutakeupanewpolicyintheLICinthefuture?

Yes[
]
No[
]
6.4
HaveyoufacedanydifficultyinthepolicyservicingintheLIC

Yes[
]
No[
]
xv

Pleasementionthevariousinsuranceschemesknowntoyou.

Pleasegiveyoursuggestionstotheexistingpolicyholderstoeffectively
utilizetheLIC

Pleasegiveyoursuggestionstothosepersonswhohavenottakenlife
insurancepolicies.

Anyothersuggestionsyouwanttogive.
xvi

PartII

INTERVIEWSCHEDULEFORAGENTS

2.1
NameofthePolicyholder
:

(writingyournameisoptional)

2.2
Age(yearscompleted)
:

2.3
EducationalQualification
:

2.4
Experience
:

2.5
AreyousatisfiedwiththeLIC
:
Yes/No

Schemesofferingtothepeople

2.6
ClubMembersStatus
:

2.7
Youprovidefrequentserviceafter
:
Yes/No

sales

2.8
Whattypeofpoliciesare
:
a)Wholelifepolicy

recommendedtoyourcustomers

b)Endowmentpolicy

c)Moneybackpolicy

d)Unitlinkpolicy
2.9
Whydoyouchoosethisprofession
:Interest/need/accident

2.10Areyousatisfiedtheatpresentcommissionrate:Yes/No
APPENDIXI

DETAILSOFPLANSAVAILABLEASON28.02.2007

Table
PlanName
Bonus
Modes
AgeofEntry

No.

Details
Allowed

Min
Mix
2
WholeLifePolicy
WP
ALL
15
60

5
LimitedPaymentLifePolicy
WP
ALL
12
60

8
LimitedPaymentLifePolicy
WP
SPonly
12
60

14
EndowmentAssurancePolicy
WP
ALL
12
65

41
CDAVestingAge21
WP
Y,H,Q,M
0
17

43
TwoYearTemporaryAssurance
WOP
SPonly
18
60

Policy

48
Endowmentassurancelimited
WP
SP&ALL
12
60

payment

50
CDAvestingage18
WOP
YHQM
0
14

52
Mortgageredemptionassurance
WOP
SP&ALL
18
50

policy
58
Convertibletermassurancepolicy
WOP
ALL
20
50

75
Moneyback20yrs
WP
ALL
13
50

88
JeevanMitraDoublecoverpolicy
WP
All
18
50

89
JeevanSaathi(JointLife)
WP
ALL
20
50
90
EducationalAnnuity/Marriage
WP
ALL
18
60

Endowment

91
NewJanaRakshaPolicy
WP
ALL
18
50

93
NewMoneyBack25yrs
WP
ALL
13
45
102
JeevanKishorePolicy
WP
SP,Y,H,Q
0
12

103
JeevanChayaPolicy
WP
ALL
18
45

106
JeevanSurabhi15(PPT12yrs)
WP
ALL
14
55

107
JeevanSurabhi20(PPT15yrs)
WP
ALL
14
50

108
JeevanSurabhi25(PPT18yrs)
WP
ALL
14
45

114
JeevanAadhar
WGP
All
22
65

133
JeevanMitraTripleCoverPolicy
WP
ALL
18
50
136
JeevanVishwas
WGA
SP,Y,H,Q
20
65

147
NewJeevanSuraksha1
WP
SP&ALL
18
65
xviii

148
NewJeevanDhara
WP
SP&ALL
18
65

149
JeevanAnand
WP
ALL
18
65

159
KomalJeevan
WGA
Sp,Y,h,q,
0
10

sss

160
JeevanBharathi
WGA/B
Yiyonly
18
50

162
LICsJeevanShree
WGA/B
Sp&All
18
65

164
LICsAnmolJeevan
WOP
Sq,Y&H
18
55

165
LICsJeevanSaral
WLA
Y,h,q,&sss
12
60

167
JeevanPramukh
WGA/B
SP&All
18
65

168
JeevanAnurag
WP
SP&All
20
60

169
JeevanNidhi
WGA/B
Sp&All
18
65

171
BimaNivesh2005
WGA
SPonly
13
70

173
JeevanPlus
ULIP
Sp,Y,h&
0
65
Q

175
BimaBachat
WLA
Single
15
66

176
JeevanAkshayIV
Annuity
SinglePrem
40
79

177
AmulyaJeevan
WDP
Yly,hly,sp
18
60

178
JeevanTarang
WP
All
0
60

179
NewBimaGold
ULIP
Yly,hly,
14
57

mly

180
MoneyPlus
ULIP
Yly,hly,qly
0
65

181
Marketplus
ULIP
Yly,hly,qly
18
70
182
JeevanMathur

184
ChildCareerPlan
WP
Yly,hly,qly
0
12

185
Childfutureplan
WP
Yly,hly,qly
0
12

WOPWithoutProfit,WLAWithLoyaltyAddition,AllY,H,Q,Mothly&SSS

WGA/BWithGuaranteedAdditionforfirst5years&Bonusthereafter

SPSinglepremium,YYearly,HHalfYearly,QQuartly,MMonthly,ULIP

UnitLinkInsurancePolicy.

Source:AgentManualCopy,2006.
xix
APPENDIXII

CLUBMEMBERSHIPSTATUS

Nameofthe
199596199697
199798
199899
1999
200001
200102
200203
200304
200405

Club

2000
Corporate

49

Club
Chairmans
3424
4056
4935
6191
7841
9847
12159
15145
175275
18223

Club
Zonal

Manager
3453
3746
4575
5686
7020
8710
10700
13362
14610
14853

Club
Divisional

Manager
9008
10216
12384
14652
17303
20860
242009
27601
27729
29943

Club
Branch

Manager
29674
33370
37202
41533
44280
49636
55301
60730
61359
52417

Club
Distinguished

73566
739009
71260
51884
34370
37353

AgentsClub
 rd th th
Source:43 LICAnnualReport,2000,p.47.45 LICAnnualReport2002,p.51,48 ChairmansReview,2005,p.12.