NEW a Project Report on TATA AIG

8/2/2019 NEW a Project Report on TATA AIG

1/70

CHAPTER- 1

INTRODUCTION

~ 1 ~


2/70

INTRODUCTION TO TATA AIG LIFE

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company,

formed by Tata Sons and AIA Group Limited (AIA). Tata AIG Life combines Tatas

pre-eminent leadership position in India and AIAs presence as the largest, independent

listed pan-Asia life insurance group in the world spanning 15 markets in Asia Pacific.

Tata Sons holds a majority stake (74%) in the company and AIA holds 26% through an

AIA Group company. Tata AIG Life Insurance Company Limited was licensed to

operate in India on February 12, 2001 and started operations on April 1, 2001.

TATA INDIA LTD AIG LIFE INSURANCE CO. LTD

OBJECTIVES OF THE STUDY

To find the market share of various life insurers in India

To suggest additions to the current product portfolio

To recognize the popular insurance plans

To showcase the influence of advertising

To suggest ideal policy term and premium for insur

~ 2 ~


3/70

Brief history of insurance sector:

The insurance sector in India has completed all the facets of competition from being

an open competitive market to being nationalized and then getting back to the form of a

liberalized market once again. The history of the insurance sector in India reveals that it

has witnessed complete dynamism for the past two centuries approximately.

With the establishment of the Oriental Life Insurance Company in Kolkata, the

business of Indian life insurance started in the year 1818.

~ 3 ~


4/70


5/70

Important milestones in the Indian general insurance business:

1907: The Indian Mercantile Insurance Ltd. was set up which was the first

company of its type to transact all general insurance business.

1957: General Insurance Council, an arm of the Insurance Association of India,

framed a code of conduct for guaranteeing fair conduct and sound business

patterns.

1968: The Insurance Act improved for regulating investments and set minimal

solvency levels and the Tariff Advisory Committee was set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized

the general insurance business in India. It was with effect from 1st January

1973.

107 insurers integrated 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

was incorporated as a company.

The history of general insurance business in India can be traced back to Triton

Insurance Company Ltd. (the first general insurance company) which was

formed in the year 1850 in Kolkata by the British

~ 5 ~


6/70

.LIST OF INSURANCE COMPANIES IN INDIA

LIFE INSURERS Websites

Public Sector

Life Insurance Corporation of India www.licindia.com

Private Sector

Allianz Bajaj Life Insurance Company Limited www.allianzbajaj.co.inBirla Sun-Life Insurance Company Limited www.birlasunlife.comHDFC Standard Life Insurance Co. Limited www.hdfcinsurance.com

ICICI Prudential Life Insurance Co. Limited www.iciciprulife.comING Vysya Life Insurance Company Limited www.ingvysayalife.comMax New York Life Insurance Co. Limited www.maxnewyorklife.comMetLife Insurance Company Limited www.metlife.comOm Kotak Mahindra Life Insurance Co. Ltd. www.omkotakmahnidra.comSBI Life Insurance Company Limited www.sbilife.co.inTATA AIG Life Insurance Company Limited www.tata-aig.comAMP Sanmar Assurance Company Limited www.ampsanmar.comDabur CGU Life Insurance Co. Pvt. Limited www.avivaindia.com

GENERAL INSURERS

Public Sector

National Insurance Company Limited www.nationalinsuranceindia.comNew India Assurance Company Limited www.niacl.comOriental Insurance Company Limited www.orientalinsurance.nic.inUnited India Insurance Company Limited www.uiic.co.in

Private Sector

Bajaj Allianz General Insurance Co. Limited www.bajajallianz.co.inICICI Lombard General Insurance Co. Ltd. www.icicilombard.comIFFCO-Tokio General Insurance Co. Ltd. www.itgi.co.inReliance General Insurance Co. Limited www.ril.comRoyal Sundaram Alliance Insurance Co. Ltd. www.royalsun.comTATA AIG General Insurance Co. Limited www.tata-aig.comCholamandalam General Insurance Co. Ltd. www.cholainsurance.comExport Credit Guarantee Corporation www.ecgcindia.comHDFC Chubb General Insurance Co. Ltd.

REINSURER

~ 6 ~
http://www.licindia.com/http://www.licindia.com/


7/70

General Insurance Corporation of India www.gicindia.com

INTRODUCTION OF TATA

Tata Group

~ 7 ~


8/70

The Tata group comprises over 90 operating companies in seven business sectors:

communications and information technology, engineering, materials, services, energy,

consumer products and chemicals. The group has operations in more than 80 countries

across six continents, and its companies export products and services to 85 countries.

The total revenue of Tata companies, taken together, was $67.4 billion (around

Rs319,534 crore) in 2009-10, with 57 per cent of this coming from business outside

India. Tata companies employ around 395,000 people worldwide. The Tata name has

been respected in India for 140 years for its adherence to strong values and business

ethics. Every Tata company or enterprise operates independently. Each of these

companies has its own board of directors and shareholders, to whom it is answerable.

There are 28 publicly listed Tata enterprises and they have a combined market

capitalization of about $103.67 billion (as on November 11, 2010), and a shareholder

base of 3.4 million. The major Tata companies are Tata Steel, Tata Motors, Tata

Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Global Beverages,

Indian Hotels and Tata Communications.

INTRODUCTION OF AIG

AIG history dates back to 1919, when Cornelius Vander Starrestablished an insurance

agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance

~ 8 ~
http://en.wikipedia.org/wiki/Cornelius_Vander_Starrhttp://en.wikipedia.org/wiki/Cornelius_Vander_Starr


9/70

to the Chinese, which he continued to do until AIG left China in early 1949as Mao

Zedong led the advance of the Communist People's Liberation Army on Shanghai. Starr

then moved the company headquarters to its current home in New York City. The

company went on to expand, often through subsidiaries, into other markets, including

other parts of Asia, Latin America, Europe, and the Middle East.

In 1962, Starr gave management of the company's lagging U.S. holdings to Maurice R.

"Hank" Greenberg, who shifted its focus from personal insurance to high-margin

corporate coverage. Greenberg focused on selling insurance through independent

brokers rather than agents to eliminate agent salaries. Using brokers, AIG could price

insurance according to its potential return even if it suffered decreased sales of certain

products for great lengths of time with very little extra expense. In 1968, Starr named

Greenberg his successor. The company went public in 1969.

Beginning in 2005, AIG became embroiled in a series of fraud investigations conducted

by the Securities and Exchange Commission, U.S. Justice Department, andNew York

State Attorney General's Office. Greenberg was ousted amid an accounting scandal in

February 2005; he is still fighting civil charges being pursued by New York state. The

New York Attorney General's investigation led to a $1.6 billion fine for AIG and

criminal charges for some of its executives. Greenberg was succeeded as CEO by

Martin J. Sullivan, who had begun his career at AIG as a clerk in its London office in

1970.

~ 9 ~
http://en.wikipedia.org/wiki/Mao_Zedonghttp://en.wikipedia.org/wiki/Mao_Zedonghttp://en.wikipedia.org/wiki/People's_Liberation_Armyhttp://en.wikipedia.org/wiki/Maurice_R._Greenberghttp://en.wikipedia.org/wiki/Maurice_R._Greenberghttp://en.wikipedia.org/wiki/Securities_and_Exchange_Commissionhttp://en.wikipedia.org/wiki/United_States_Department_of_Justicehttp://en.wikipedia.org/wiki/New_York_State_Attorney_Generalhttp://en.wikipedia.org/wiki/New_York_State_Attorney_Generalhttp://en.wikipedia.org/wiki/Martin_J._Sullivanhttp://en.wikipedia.org/wiki/Mao_Zedonghttp://en.wikipedia.org/wiki/Mao_Zedonghttp://en.wikipedia.org/wiki/People's_Liberation_Armyhttp://en.wikipedia.org/wiki/Maurice_R._Greenberghttp://en.wikipedia.org/wiki/Maurice_R._Greenberghttp://en.wikipedia.org/wiki/Securities_and_Exchange_Commissionhttp://en.wikipedia.org/wiki/United_States_Department_of_Justicehttp://en.wikipedia.org/wiki/New_York_State_Attorney_Generalhttp://en.wikipedia.org/wiki/New_York_State_Attorney_Generalhttp://en.wikipedia.org/wiki/Martin_J._Sullivan


10/70

On June 15, 2008, after disclosure of financial losses and subsequent to a falling stock

price, Sullivan resigned and was replaced by Robert B. Willumstad, Chairman of the

AIG Board of Directors since 2006. Willumstad was forced by the US government to

step down and was replaced by Edward M. Liddy on September 17, 2008.AIG's board

of directors named Robert Benmosche CEO on August 3, 2009 to replace Mr. Liddy,

who earlier in the year announced his retirement.

Business Holdings

Further information: Holdings of American International Group

In the United States, AIG is the largest underwriterof commercial and industrial

insurance, and AIG acquired American General Life Insurance in August 2001.

Auto insurance

AIG soldauto insurance policies through its subsidiary unit, AIG Direct The policies

they offered included insurance for private automobiles, motorcycles,

recreational vehicles and commercial vehicles.

AIG purchased the remaining 39% that it did not own of online auto insurance

specialist 21st Century Insurance in 2007 for $749 million. With the failure of the

parent company and the continuing recession in late 2008, AIG rebranded its insurance

unit to 21st Century Insurance.In April 2009 it was announced that AIG was selling the

21st Century Insurance subsidiary to Farmers Insurance Group for $1.9 billion.

~ 10 ~
http://en.wikipedia.org/wiki/Robert_B._Willumstadhttp://en.wikipedia.org/wiki/Edward_M._Liddyhttp://en.wikipedia.org/wiki/Holdings_of_American_International_Grouphttp://en.wikipedia.org/wiki/Underwriterhttp://en.wikipedia.org/wiki/Auto_insurancehttp://en.wikipedia.org/wiki/Auto_insurancehttp://en.wikipedia.org/wiki/AIG_Directhttp://en.wikipedia.org/wiki/21st_Century_Insurancehttp://en.wikipedia.org/wiki/Farmers_Insurance_Grouphttp://en.wikipedia.org/wiki/Robert_B._Willumstadhttp://en.wikipedia.org/wiki/Edward_M._Liddyhttp://en.wikipedia.org/wiki/Holdings_of_American_International_Grouphttp://en.wikipedia.org/wiki/Underwriterhttp://en.wikipedia.org/wiki/Auto_insurancehttp://en.wikipedia.org/wiki/AIG_Directhttp://en.wikipedia.org/wiki/21st_Century_Insurancehttp://en.wikipedia.org/wiki/Farmers_Insurance_Group


11/70

CHAPTER-2

COMPANY

PROFILE

~ 11 ~


12/70

TATA AIG LIFE INSURANCE COMPANY

TATA AIG Life Insurance Company Limited is a joint venture that brings together two

large forces TATA India Limited, a multi-business corporate, together with AIG Life

International, a global leader who is long experienced in that unique business called life

insurance.

Together TATA India Limited and AIG Life aims to become the most admired Life

Insurance Company in India. . This vision can be realized through their unique set of

values.

KNOWLEDGE :

Knowledge leads to expertise; and their expertise is in helping people protect

themselves. Perfectly combining global expertise with local knowledge, they

are Indias life insurance specialist. TATA AIG Life believes that for

Knowledge to be of value it must be focused, current, tested and shared.

CARING :

TATA AIG life is redefining the life insurance paradigm by Focusing on

customer first. The service process responsive, Personalized, humane and

empathetic. Every individual who represents the company is for them are their

brand champion.

~ 12 ~


13/70

UNITY: We must work cohesively with our colleagues across thegroup and with our

customers and partners around the world, building strong relationship based on

tolerance, understanding and mutual cooperation.

RESPONSIBILITY: We must continue to be responsible, sensitive tothe countries,

communities and environments in which we work, always ensuring that what comes

from people goes back to the people many times over.

VISION:

To be the most trusted life insurance company that values customers financial well-

being, consistently delivering best-in-class solutions and respected by all.

MISSION:

Enhance our customers well- being.

HONESTY:

Honesty is the heart of life insurance business. It is all about trust. Transparency,

integrity and dependability forms the corner stones of TATA AIG life experience. The

company ensures that every one who represents the brands carries a promise we care in

a word as well as deed.

QUALITY:

Excellence at TATA AIG Life implies the ability to perform a consistently high level.

Focused on the value of continuous improvement in people, processes and the

organization, the company strives higher standard of quality in every aspect of its

business.

~ 13 ~


14/70

INTEGRITY :

We must conduct our business fairly, with honesty and transparency. Everything we do

must stand the test of public scrutiny.

UNDERSTANDING:

We must be caring, show respect, compassionand humanity for our colleagues and

customers around theworld, and always work for the benefit of the communities we

serve.

EXCELLENCE:

We must constantly strive to achieve the highestpossible standards in our day to day

work and in the quality of the goods and services we provide.

MARKETING INFORMATION:

Tata AIG began its campaign with corporate slogan of With You Always. Tata AIG

life signed up with popular TV commentator Harsha Bhogle and Bollywood icon

Naseerudin Shah to be its brand ambassadors. In a changing environment, slogan was

shifted to A new look at life which meant that Tata AIG would be proactive and

anticipate the requirements of customers. In 2009, in an attempt to stand out, Tata AIG

created two animated characters- Sukhi & Dukhi to communicate their products. Dukhi

voices the concerns in the customers mind while Sukhi answers those issues

~ 14 ~


15/70

~ 15 ~

DISTINCTIONS:

.Tata AIG Life Insurance Company (Tata AIG Life) has been awarded the LOMA

(Life Office Management Association) award for outstanding professional life

insurance education of its employees. ( 2004)

The globally renowned Life Insurance Marketing and Research Association

(LIMRA) awarded the prestigious International Quality Agent (IQA) award to 61

Tata AIG Life Insurance Company Ltd. (Tata AIG Life) advisors. Tata AIG Life

Insurance is the only company in India whose advisors have been awarded this

unique distinction.

CLAIMS:

As an insurance company it is our priority and assurance to our policy holder's to process

their claims speedily and in best possible manner while keeping their well-being in mind

always.

To service you better in times of emergency, please inform us immediately upon

occurrence of the incident or loss.

In the unfortunate event of a critical illness, hospitalisation, disability or death, call our

Helpline No's 1-800-11-9966 (toll free BSNL & MTNL only) or at 1-860-266-9966 (local

charges apply) from 9am-9pm

TYPES OF PLANS

Risk Plans

TATA AIG Life Raksha

TATA AIG Life LifePlus


16/70

THE ORGANIZATION STRUCTURE

~ 16 ~

Home office

urgaon

West Zone North ZoneEast Zone

South Zone

ZVPZVP ZVPZVP

MPZTM

CSM & TEAM

PARTNER TR. MGCSM AGENCY

COORDINATOR

TEAMASSOCIATE

PARTNER

SALES

MANAGER

ASSOCIATE SALESMANAGER

ZM-Ops

AGENTS AND

ADVISOR


17/70

INSURANCE REGULATORY AND DEVELOPMENT

AUTHORITY( IRDA)

Insurance Regulatory & Development Authority is regulatory and development

authority under Government of India in order to protect the interests of the

policyholders and to regulate, promote and ensure orderly growth of the insurance

industry. It is basically a ten members' team comprising of a Chairman, five full time

members and four part-time members, all appointed by Government of India. Thisorganization came into being in 1999 after the bill of IRDA was passed in the Indian

parliament.

POWERS AND FUNCTIONS OF IRDA

It issues the applicants in insurance arena, a certificate of registration as well as

renewal, modification, withdrawal, suspension or cancellation of such

registrations.

It protects the interests of the policy holders in any insurance company in the

matters related to the assignment of policy, nomination by policy holders,

insurable interest, and resolution of insurance claim, submission value of policy

and other terms and proposals in the contract.

It also specifies obligatory credentials, code of conduct and practical

instructions for mediator as well as the insurance company. Apart from this, it

also defines the code of conduct for the surveyors and loss assessors involved

with the insurance business.

~ 17 ~


18/70

One of the major functions of IRDA includes endorsing competence in the

insurance business. Apart from this, upholding and regulating professional

organizations in insurance and re-insurance business is also a major duty of

IRDA.

IRDA is also entitled to for asking information, undertaking inspection and

investigating the audit of the insurers, mediators, insurance intermediaries and

other organizations related to the insurance sector.

It is also concerned with the regulation of the rates, profits, provisions and

conditions that may be offered by insurers in respect of general insurance

business if it is not controlled or regulated by the Tariff Advisory Committee.

It is also entitled to supervise the functioning of the Tariff Advisory Committee.

IRDA specifies the terms and pattern in which books of accounts are to be

maintained and statement of accounts shall be provided by insurers and other

insurance mediators.

It also regulates investment of funds by insurance companies as well as the

maintenance of margin of solvency.

It is also empowered to be involved in the arbitration of disagreements between

insurers and intermediaries or insurance intermediaries.

It is meant to specify the proportion of premium income of the insurer to

finance policies.

IRDA also specifies the share of life insurance business and general insurance

business to be accepted by the insurer in the rural and insurance sector.

~ 18 ~


19/70

CHAPTER-3

LITERATURE

REVIEW

~ 19 ~
http://www.tataaiglifeinsurance.com/


20/70

LITERATURE REVIEW

An article published in IRDA Journal, April 2008 UNIT LINKED BUSINESS

PRODUCT DEVELOPMENT gave knowledge that there must be clear

distinction between traditional products and market linked products.

An article published by OUTLOOK MONEY WHY INSURANCE POLICIES

DONT MAKE GOOD INVESTMENTS says that if one drill through the

numbers is a bare truth that insurance policies dont make good investments.

An article published in OUTLOOK MONEY UNIT LINKED PLANS ARE

THE FUTURE notifies the importance of acceptance of ULIPS among the

masses.

An interview published in INDIA INFOLINE INTERVIEW OF Mr. NEERAJ

BASUR V.P. CORPORATE FINANCE- TATA INDIA LTD visualizes how

the servicing, turnaround time and other customer service parameters

differentiate TATA AIG Life with others.

An article on LIFE INSURANCE AS AN INVESTMENT says that it has

been researched that investment in life insurance is a profitable investment as

compared to other form of investments.

~ 20 ~


21/70

Tata AIG Life Insurance Company ties up with Chennai Central Co-operative

Bank feb 2010

VOICE survey reveals Tata AIG Life Insurance as a clear winner in the life insurance

category may 10 \06

Tata AIG Life Insurance Company introduces Series II of funds under InvestAssure

Apex Supreme july 1 \11

Tata AIG Life Insurance Company launches Gyan Kosh june 15\2011

Tata AIG Life Insurance launches two limited-pay unit-linked solutions InvestAssure

Gold Supreme and InvestAssure Maximizer may 31 \2011

The globally renowned Life Insurance Marketing and Research Association (LIMRA)

awarded the prestigious International Quality Agent (IQA) award to 61 Tata

AIG Life Insurance Company Ltd. (Tata AIG Life) advisors. Tata AIG Life

Insurance is the only company in India whose advisors have been awarded this

unique distinction.Aksh trivedi (mgr corporate pensions at tata aig life) Won the highest annual

recognition Hercules award of the Tata Aig life Insurance Co India for 2010-

2011.

The knowledge about the marketing principles is gained from the book

Principles of Marketing written by Philip Kotler.

Syndicate Bank ties up with Tata AIG Life Insurance Company to offer group

insurance solution to its housing loan customers.

~ 21 ~


22/70

CHAPTER-4

RESEARCH

METHODOLOGY

~ 22 ~


23/70

RESEARCH METHODOLOGY

RESEARCH: Research is collecting the facts or data analyzing the facts and reaching

certain conclusions either in the form of solutions towards the concerned

problem or in generalisations for some theoritical formulation.

TYPES OF RESEARCH

There are two types of research being used in this they are as follows:

1. Descriptive Research: Descriptive Research includes surveys and

fact-findings enquiries of different kinds .The major purpose of

descriptive research is description of the state of affairs aas it exists

at present. So this research was applied to conduct surveys ad to

find out facts.

2. Analytical Research: In Analytical Research the facts or

information already available are analyzed to make a critical

evaluation of the material.so this research was used to compare the

plans on the basis of information available.

~ 23 ~


24/70

OBJECTIVES OF THE STUDY

To find the market share of various life insurers in India

To suggest additions to the current product portfolio

To recognize the popular insurance plans

To showcase the influence of advertising

To suggest ideal policy term and premium for insurance

To showcase the consumers willingness to spend on life insurance

To showcase the factors that motivate purchase of insurance policies

To understand the type of company preferred for investment

To understand the awareness level of consumers about unit linked insurance

plans

~ 24 ~


25/70

RESEARCH DESIGN

INTRODUCTION

A Research Design is the framework or plan for a study which is used as a guide in

collecting and analyzing the data collected. It is the blue print that is followed in

completing the study. The basic objective of research cannot be attained without a

proper research design. It specifies the methods and procedures for acquiring the

information needed to conduct the research effectively. It is the overall operational

pattern of the project that stipulates what information needs to be collected, from which

sources and by what methods.

SAMPLING METHOD

Sampling refers to the method of selecting a sample from a given universe with a view

to draw conclusions about that universe. A sample is a representative of the universe

selected for study.

Convenience sampling is used in exploratory research where the researcher is

interested in getting an inexpensive approximation of the truth. As the name implies,

the sample is selected because they are convenient. This non probability method is

often used during preliminary research efforts to get a gross estimate of the results,

without incurring the cost or time required to select a random sample.

~ 25 ~


26/70

SAMPLE SIZE

The sample size for the survey conducted was 100 respondents.

SAMPLING TECHNIQUE

Convenience sampling technique was used in the survey conducted.

SAMPLING TOOLS

Tables were used for the analysis of the collected data. The data is also neatly presented

with the help of statistical tools such as graphs and pie charts. Percentages and averages

have also been used to represent data clearly and effectively.

~ 26 ~


27/70

METHODS OF DATA COLLECTION

There are two types of data used. They are primary and secondary data. Primary data is

defined as data that is collected from original sources for a specific purpose. Secondary

data is data collected from indirect sources.

PRIMARY SOURCES

These include the survey or questionnaire method, telephonic interview as well as the

personal interview methods of data collection. This data was majorly used for the

analysis of surveyed questions.

SECONDARY SOURCES

These include books, the internet, company brochures, product brochures, the company

website, competitors websites etc, newspaper articles etc. This data was used majorly

for the purpose of comparative analysis.

~ 27 ~


28/70

CHAPTER-5

DATA ANALYSIS

~ 28 ~


29/70

SWOT ANALYSIS

STRENGTHS:

The ethics and values have a major role to play in the management.

Motivation is also given to agents for attending the training

Co-operative sales manager to whom the agents can consult anytime.

Motivation of agent advisor by distributing gifts and giving awards and

recognitions

Work and culture in TATA AIG is very friendly.

First Indian Life Insurer to be given ISO 9001:2000 certification.

New York Life has been No. 1 in MDRT for 50 consecutive years.

TATA AIG provides world class training for agent advisor.

WEAKNESS:

Training period consists of 50 hours which is too long and thus difficult for

some people to attend regularly .The Company has no alternative as it is ruled

framed by IRDA.

TATA AIG is not having any rural presence.

~ 29 ~


30/70

OPPORTUNITIES:

Huge population over 1 billion

Insurance penetration significantly below international standards

Limited number of players given the size of the market, and in comparison to

other Asia Pacific markets

Pension reform

Insurance regulator is influential and open-minded, permitting all types of

products

Regulations are changing in a favourable manner (e.g. surplus distribution,

bancassurance)

Well developed banking system enabling bancassurance

An acceptance of unit-linked products on the back of a well developed mutual

fund market.

Health insurance is relatively limited. There has been a lack of interest in this

area and the IRDA is keen to stimulate this area.

THREATS:

LIC networking

Nascent industry

Tax relief is long term a big question mark.

Equity boom luring investors to invest in stock market.

~ 30 ~


31/70

Agents rebating their commission.

ANALYSIS OF INSURANCE PLANS

COMPARISON -UNIT LINKED INSURANCE PLAN

Unit linked insurance plans (ULIPs) are probably the hottest selling product for most

life insurance companies today. However, when it comes to evaluating ULIPs from

across life insurance companies, individuals find the task arduous and challenging. The

table below provides information on ULIPs from three leading life insurance

companies.

LIFE

MAKER

PREMIUM

(TALIC)

UNIT LINKED

ENDOWMEN

T PLUS

(HDFC)

LIFE TIME

SUPER

(ICICI)

ENTRY AGE 0-65 18-65 yrs without

riders

18-55 yrs with

riders

0-65

MAX. AGE AT

MATURITY

75 yrs 65-75 yrs

depending on riders

chosen

75 yrs

TERM 75 yrs 10 - 30 yrs 10-75 yrs

PPT Regular, Limited Regular Regular

PREMIUM MODES Yearly, half

yearly, quarterly,

Yearly, half yearly,

quarterly, monthly

Yearly, half

yearly, monthly

~ 31 ~


32/70

monthlyMINIMUM

PREMIUM

Rs. 20,000 p.a. Rs. 10,000 p.a. Rs. 18,000 p.a.

RIDERS PAB, DD ADB, CI ADB, CI, WoPPERSISTENCY

UNITS

0.75% of avg.

fund value of

previous 36

month starting

9th yr & every 3rd

year thereafter

0.1% of loyalty

units every yr

4%of annual

premium

starting from

4th yr & every

yr thereafter

FREE SWITCHES 6 24 4

PARTIAL

WITHDRAWALS

Allowed after 3

yrs. Minimum

amt. --

Rs.10,000.

3 free

Allowed after 3yrs.

Minimum amt. --

Rs. 10,000.

6 free

Allowed after 3

yrs. Minimum

amt. -- Rs.

3,000

ALLOCATION

CHARGE

Yr 1 25%

Yr 2 10%

Yr 3 5%

Yr 4 2%

Yr 5 2%

Yr 6-20 2%

60%

1%

1%

1%

1%

1%

20%

7.5%

4%

4%

4%

4%ADMINISTRATIO

N CHARGES

Yr 1 12%

Yr 2 12%

Rs. 240

Rs. 240

Nil

Nil

~ 32 ~


33/70

Yr3 12%

Yr4 5%

Yr5 5%

Yr 6-20 5%

Rs. 240

Rs. 240

Rs. 240

Rs. 240

Nil

Nil

Nil

NilSURRENDER

CHARGES

After 3 yrs --

25% of fund

value

After 4 yrs -- nil

After 5 yrs -- nil

Subsequent yrs

nil

Nil

Nil

Nil

Nil

2%

1%

Nil

Nil

S

FINDINGS FROM ABOVE COMPARISON

ICICI From the above ULIPS comparison it can be analyzed that ICICIs strengthlies in its TERM which is longer as compared to TALIC. It also charges premium

which is lower than TALIC by Rs.2000. The main strength of ICICI is its nil

administration charges. The allocation charges are also lower than TALIC in 1st yr by 5

percent points.

~ 33 ~


34/70

The weakness of ICICI is that it charges surrender charges even in the 4 th

year whereas in case of TALIC in 4th year it is nil. It also do not have quarterly

premium mode.

HDFC From the above ULIPS comparison it can be analyzed that HDFCs strengthlies in its surrender charges which are nil throughout. The administration charges are

also low and fixed. It also charges premium which is lower than TALIC by Rs.10000. It

also allows 24 free switches which is highest in above comparison.

The major weakness of HDFC is that its allocation of funds is very low in

the first year. The age at entry is also very high.

COMPARISON-CHILDRENS PLAN

YOUNG STAR

(HDFC)

SMART KID

(ICICI)

SMART STEP

(TATA AIG)

Min. age at entry 0 yrs child and 20

yrs parent.

0 yrs child and 20

yrs parent.

91 days child and

21 yrs parent.

Max. age at entry 15 yrs child and 60

yrs parent.

15 yrs child and 60

yrs parent.

15 yrs child and 50

yrs parent.

Max. age at 18 yrs min. 25 yrs 18 yrs min. 25 yrs 16 yrs min. 25 yrs

~ 34 ~


35/70

maturity (child) max. max. max.

Max. age at

maturity

75 yrs. 75 yrs. 60 yrs.

Minimum

premium

RP- 10,000 RP- 10,000

SP- 25,000

RP- 20,000

SP- 50,000

Term 10 yrs min. and 25

yrs max.

10 yrs min. and 25

yrs max.

10 yrs min. and 25

yrs max.

Maturity Benefit FV/PV/AV FV/PV/AV FV/PV/AV

Death Benefit SA + Future

Premiums waived

off + Future

Premiums paid by

the company + FV

SA + Future

Premiums waived

off + Future

Premiums paid by

the company + FV

SA + Future

Premiums waived

off + Future

Premiums paid by

the company + FV

+ [5% FIB + DD

(50% of SA or 10

lakh whichever is

lower)]

Top up Allowed Not available Allowed min 5000

Partial

Withdrawals

Allowed after 3 yrs Allowed after 5 yrs Allowed after 5 yrs

Premium

Allocation Charge

1st 2 yrs 30%

3rd yr onwards -2%

1st yr - 20%

2nd to 5th yr 5%

6th yr onwards 2%

1st yr 30%

2nd yr onwards 2%

~ 35 ~


36/70

COMPARISON-RETIREMENT PLANS

SMART INVEST

PENSION

(TATA AIG) LIFE

UNIT LINKED

PENSION

(HDFC)

LIFE TIME SUPER

PENSION

(ICICI)Entry age 18-60 yrs 18-65 yrs 18-65 yrs

Vesting age 50-70 yrs 50-75 yrs 45-75 yrsTerm 10-52 yrs 10-40 yrs 10-57 yrs

Minimum

premium

10,000 10,000 10,000

Premium options Level/increasing Level LevelInvestment

options

5 funds/dynamic

allocation option where

asset allocation is

determined by years to

vesting resulting in

customer having no

hassels of

switching/redirections

6 funds 4 funds

~ 36 ~


37/70

Free switches 6 24 4Administration

charges

Rs. 50 p.m. with 5%

increase every year

Rs. 20 p.m. Rs. 40 p.m. and

additional charges of

Rs. 40 p.m. if premium

not paid in 1st 5 yrsFund

Management

Charges

Growth super- 1.35%

Growth- 1.25%

Balanced- 1.1%

Secured- 0.9%

Conservative- 0.9%

0.8% of fund value

across all funds

Maximiser II- 1.5%

Balancer II- 1%

Protector II- 0.75%

Preserver- 0.75%

~ 37 ~


38/70

COMPARISON OF

INDIVIDUAL UNIT LINKED INVESTMENT PLAN

SMART ASSURE

(TATA AIG)

LIFE TIME

GOLD

(ICICI)

UNIT LINKED

ENDOWMENT

PLUS II

(HDFC)

Entry age 91 days 75yrs 0-65 yrs 18-65 yrsMinimum ATP Rs. 20,000 Rs. 20,000 Rs. 12000

Term/PPT Term - regular

10-30 yrs

10-75 yrs 10-30 yrs

Maturity age 85 yrs 75 yrs 65-75 depending

upon riders chosen

Switch 6 free 4 free 24 freeRedirection 3 free Unlimited 12 free

Partial withdrawal 6 free Unlimited 6 freeDeath benefit Higher of fund

value/S.A.

Higher of fund

value/S.A.

Higher of fund

value/S.A.Maturity benefit Fund value Fund value Fund value

Loyalty units 1%-3% of fund

value depending on

policy term

4% of annual

premium every 4

yrs at starting end

of fourth yr

0.1% of units every

yr

Administration

charges

Rs. 50 p.m.

increasing at 5%

p.a.

N.A. Rs. 60 p.m.

Fund management

charge

Dynamic

opportunity 1.6%

Flexi growth, RICH

2.25%

1.25% for all funds

~ 38 ~


39/70

Growth super

1.35%

ANALYSIS OF SURVEY

AGE GROUP OF SURVEYED RESPONDENTS

~ 39 ~


40/70

Analysis:

From the above chart we could find that 28 % of the respondents fall in the category of

20-30 age group as well as 40-50 age group.21% respondents fall in age group of 30-40

and 17% fall in the category of 50-60 age group and rest in the age group of 60-70.

Therefore people falling between age group 20-30 can be induced to buy insurance plan

by making them aware of insurance as a means of investment with high returns.

Contrary to popular belief the younger you are the more insurance you need as your

loss will mean a great financial loss to your family, spouse and children (in case the

individual is married) who are financially dependent on you.

People falling in the age group of 40-50 can be induced to buy insurance by spreading

awareness of tax benefit under sec 80C on premiums and under sec 10(10D) on

maturity proceeds of the policy.

GENDER CLASSIFICATION OF SURVEYED RESPONDENTS

~ 40 ~


41/70

Analysis

The above graph shows that 77% of the respondent are male and rest 23% are female.

The insurance policy is being taken by 77% male and only 23% female take insurance

policy.

OCCUPATION OF RESPONDENTS

~ 41 ~


42/70

Analysis:

From the chart above it can clearly be seen that 44% of the respondents are service

man, 38% are into business and 9% are housewives, 7% are students and rest 2% are

others .Therefore the target market would be working individuals or service man in the

age group of 20 30 as well as 40-50 years having surplus income, interested in good

returns on their investment and saving income tax.

DATA ANALYSIS

QUESTION 1 :

Whom do you keep in mind while taking an insurance policy?

~ 42 ~


43/70

Analysis:

The above chart shows that 40% take insurance policy for themselves, 26% for their

children, 21% for spouse and 13% for other in the family.

40% of respondent are service people who are aware of the benefit of insurance. They

know life is uncertain. So they wanted to secure their family from uncertainty and 26%

of respondents take policies for children to secure their future needs like educational

and marriage expenses. 25% of people take life cover for their wife; if she is a

housewife husband would get a tax rebate as she is not a tax assesse.

QUESTION 2 :

How do you rate Life Insurance as a means of investment Vis-a Vis other forms

of investment?

~ 43 ~


44/70

Analysis:

The above graph reveals that 55% of the masses rate the investment in life insurance as

a good means as it provide lot of benefit to the customer.21% rate it as an excellent

source, 17% rate it as fair, 7% consider that insurance is a poor investment source as

compared to other form of investment.

Respondents have rated insurance as a good means of investment because on one part it

provides a back up in case some misshappening occurs and on the other side there no

risk involved. People also get tax rebate when they put their money in life insurance

business.

QUESTION 3 :

Where do you want to invest your money?

~ 44 ~


45/70

Analysis:

It is clear from the above chart that 55% of the respondents want to invest in

government sector and 45% want to invest in private sector. 55% want to invest in govt.

sector because of past experience and trust created by govt. companies. But private

companies are behind by just 10% points which means that the orientation of people is

shifting towards the private players in the market

Private Company advertises regularly and creates brand value for its products and

services and most people believe that they get effective return when invested in private

insurance company. Moreover the customer service provided by the private companies

is far better as compared to the Government Company.

QUESTION 4 :

Out of the following you have an insurance policy of which insurance company?

~ 45 ~


46/70

Analysis:

LIC is holding the biggest market share of 54% according to the survey. TATA AIG

Life holds the second place having 17% market share followed by ICICI having 13%

market share. HDFC, BIRLA and OTHERS have less percentage in the market .LIC

has the highest coverage market as compared to other private players.

QUESTION 5 :

How important are the following factors while selecting an insurance policy?

~ 46 ~


47/70

Analysis :

From the above graph it can be analyzed that only 15% of the respondents consider

additional benefit to very important; the reason behind this is that additional benefits are

though important but they are not the factors which people keep in mind while selecting

insurance policies. The policies offered by different companies have different features.

The benefits may include riders without paying any additional premium.

It is clear that 71% of people consider security of money as a very important factor,

24% of respondents say it to be important factor, whereas 5% say it to be moderately

important factor. Respondents felt that in whichever plan they invest their money

should be secure enough. That was a very important criterion for them. There were

people who belonged to high income class for whom security was not that important

criterion. Their motive behind selecting the insurance policy was quiet different, as they

are looking for the returns that are involved with the policy.

~ 47 ~


48/70

Further from the graph above it can be analyzed that 57% of the people say that

goodwill is very important factor to invest company because it is the reputation of the

company which creates the influence on people to invest their money, 38% people

consider it to be important factor, 3% say it to be moderately important factor, 2% tell

that goodwill is not as important factor.

Lastly the above graph reveals that 61% of the people consider return on investment as

the most important factor while selecting an insurance policy and just 9% consider it to

be moderately important and 29% say it is important only 1% consider it to be not

important who are amongst those who want low but assured returns. This is the most

alluring factor that induces a person to make their investment in this sector.

QUESTION 6 :

Out of the following which plan suits to your need?

(A) ULIP PLAN

~ 48 ~


49/70


50/70

Analysis:

From the above graph we can conclude that 16% of the respondents are in favour of

taking the whole life policy and hence 31% respondents placed WHOLE LIFE PLAN at

second position. Only for 2% of the respondents Whole Life policy does not match to

their needs. Respondents were in favour of whole life policy because in whole life plans

all the 8 riders are available which is not available in any other plan and this policy can

be surrendered at any time. It is entirely different from the Term plan because in term

plan the sum assured can be recovered only on the death of an individual but in Wholelife plan the sum assured along with bonus can be recovered after the age of 100 years

but in case of death of the life insured (being less than the age of 10 years) all the

premiums along with the interest that has been paid will be refunded.

(C) ENDOWMENT PLAN

~ 50 ~


51/70

Analysis:

The above graph clearly shows that this plan is not that famous among the respondents.

Only one rider are available on this plan and there is no facility of term plan. And hence

the respondents have placed endowment plan at third position with 38% favouring it.

(D) TERM PLAN

~ 51 ~


52/70

Analysis

Respondents were not interested in Term plans as the benefit was available only in case

of the death of the individual. Bonus is also not payable in this plan and no loan could

be taken on this plan. And hence the analysis shows that term plan is on fourth position

with 61% people favouring it.

(E) OTHER PLANS

~ 52 ~


53/70

Analysis

The above graph reveals that 91% of the people are not satisfied with the current plans

they wanted that any other plan should be introduced in the market. Apart from the

above four plans there are other plans and policies that attracted the respondents. This

included Child Money Back Policy, Life Maker Investment plans and others. From time

to time the company comes out with polices with modifications that gained the attention

of people.

QUESTION 7 :

What motivates you to purchase an insurance plan?

~ 53 ~


54/70

Analysis:

The above graph reveals that 46% of the people consider income security as an

important factor of motivating the person to purchase insurance policy. Investing

money in shares and equity market is quiet risky. Many people generally avoid

investing in this market. They are in look for much better options. In this market neither

the amount invested is saved nor is any kind of return assured. Life insurance provides

an edge over the equity market. Respondents had considered the income security as a

very important factor.

Today old age benefit is what people want to get when they dont have their job. 44%

of the people who considered it to be very important were mostly among the age group

~ 54 ~


55/70

of 40-50. 35% consider it important and 15% moderately important and 6% of the

respondents feel that it is not an important factor.

People like to invest if they get tax benefit from any investment , 45% of respondents

consider tax benefit to be important ,37% consider it to be very important factor, 12%

to be moderately important , 6% consider it be not important. Amongst 45% of the

people who considered that tax benefit is perhaps the important criteria were young

people who were interested in returns rather than rebates. 37% of the people in our

survey who fall in very important category belonged to the service class for whom tax

saving seems to be very important whereas on the other hand for housewives this was

not that important.

The above graph reveals that 49% of respondents consider high return to be very

important, 37% say it to be important and 14% consider it is moderately important.

There was none amongst the respondents who considered it to be not important. Return

from a particular policy is an important factor which the respondents keep in mind

while investing in insurance policy. Females on the other hand considered return on

investment as moderately important factor for the investment purpose.

Lastly savings is considered to be highest motivating factor for which respondents take

up the insurance plan as 55% people considered it to be very important.38% consider it

to be important, 6% consider it to be moderately important and hardly 1% out of 100

consider it to be not at all important.

QUESTION 8 :

What is the approximate premium paid by you annually?

~ 55 ~


56/70

Analysis:

It is clear from the above analysis that 41% of the people pay premium between 5000-

10000, 32% people pay between 10000-15000, 15% people pay between 15000-25000

and rest pay between .The sample which we had taken consisted of people belonging to

lower-middle and middle class families. They could pay premium of 5000-10000 pre

year. Respondents belonging to middle class could afford a premium of Rs.10000-

Rs.15000 per year.

QUESTION 9 :

Which according is an ideal policy term?

~ 56 ~


57/70

(Number of years youll be willing to pay premiums)

Analysis:

According to the survey conducted 43% of the people wanted to pay premium between

6 years 9 years because they dont want to carry the policy for long they would like to

further invest the money in some other investment , 33% between 10years-15years,

10% of the people would like to pay premium between 16years- 20 years. People now

take life insurance policies at a very early age and the amount of premium gets blocked

at that very age that enables them to enjoy the benefits of insurance for a longer

duration of time.

QUESTION 10 :

Typically what kind of return would you look at?

~ 57 ~


58/70

(Higher returns involves greater risk)

Analysis:

From the above chart we can analyse that 41% of the respondents want to have returns

between 11%-15%. This is because the risk appetite of these people is low and hence

they do not want to involve in risky ventures Returns depend upon the amount of

investment. Greater is the amount invested in a policy greater will be the amount of

return because it is said that higher return involves greater risk and they cannot bear

high risk and are in the favour of security of their money. Next 17% want to have

returns between 16%-20%. Only 6% of the people expect returns of more than 40% as

their risk appetite is very high and they are risk seekers.QUESTION 11 :

QUESTION 11:

Which private cos advertisement is more informative?

~ 58 ~


59/70

Analysis:

The above chart states that the advertisement of TATA AIG LIFE is more informative

as compared to other market players. The reason for this is that this survey was

conducted when IPL was at peak and its major share was sponsored by TAIGL.

Another reason for TATA AIG Life being most informative is that it has taken Rahul

Dravid as brand ambassador which truly depicts the personality of TATA AIG Life.

33% of the people knew mostly of ICICI product and plan as it give the knowledge of

the new product in the market and the advertisement is comprehensive in nature which

emotionally effect people.14% opted for HDFC. And the rest 8% opted either for

AVIVA or BIRLA for giving the most informative advertisement.

QUESTION 12 :

Any suggestion to improve services offered by various insurers?

~ 59 ~


60/70

This was an open ended question in which I received various recommendations and

advices from the masses regarding ways in which insurers can improve their services.

The most common advice is advertisement and publicity. The people want that

insurance companies shall spread awareness regarding the actual benefits of taking up

an insurance policy. These days it has become a mere tool to get rebate on taxes on year

end. Other benefits of insurance like old age benefit, investment benefit, risk cover etc

should also be brought to notice of people. Other suggestion included

More Ex-gratia payments if claims are totally denied.

Brochures in hindi shall be introduced.

Products for rural people shall be launched by private companies.

Allocation charges shall be reduced.

Claim settlement should be enhanced.

Try to relate policies with peoples emotions.

Returns should be timely informed.

Avoid unethical selling.

~ 60 ~


61/70

CHAPTER-6

FINDINGS

AND

CONCLUSION

~ 61 ~


62/70

FINDINGS

There was a time when people found Government life insurance companies as a

better option to invest their money in. But now times have changed. People are

now shifting their focus towards private players as well.

The main purpose of insurance is to cover the financial or economic loss that

occurs to the family in case of the uncertain death of the policy holder. But

nowadays this trend is changing. Along with protection (life cover), a savings

element is being added to insurance.

TATA AIG Life is facing a tough competition from other private players in the

market. So the company should bring out more number of plans at a reasonable

premium.

People apart from saving their money also expect a fair amount of return on

that. So the ULIP plan is gaining popularity day by day and is the maximum

revenue generating product of an insurance company.

People now prefer to take insurance policies at a younger age. The amount of

premium gets blocked at this age and they can reap the benefits of insurance for

a longer duration of time.

~ 62 ~


63/70

LIMITATIONS

The allotted time period of 8 weeks for the study was relatively insufficient,

keeping in mind the long duration it can take at times, to close a particular

corporate deal.

The study might not produce absolutely accurate results as it was based on a

sample taken from the population.

It was difficult getting time and access to senior level Finance/HR managers

(who had to be talked to, to get required information) due to their busy

schedules and prior commitments.

A few of the managers refrained from giving the required information as he

considered being from their confidential domains.

Mode of database collection was limited only to cold calling the corporate.

Not all the plans available in the market have been covered. It might be

possible that the best selling plan from a particular company might not have

been included in the defined category

~ 63 ~


64/70

RECOMMENDATIONS

Life Insurance business works on the trust of individuals. For a company like

AIG Life its really difficult to get into the minds of Indian customers. It has to

adopt effective marketing campaigns so that people comes to know about this

brand in the market.

The basic purpose for which life insurance industry was set up has been lost.

People just consider it as a tax saving instrument. So people should be made

aware that life insurance is an instrument that helps an individual in his difficult

times

TALIC should try to open more and more number of branches .

In a country like India it is essentially required that the company enters into

joint ventures with some rural based chains. This tie up will strengthen

TALICSs rural presence.

The company must try to bring out products according to the need and

affordability in the rural areas. The size of rural market is really huge and there

is an increasing propensity to save among them. So the potential that exists in

the rural market is really enormous.

The agents should be given sufficient incentives so that they feel motivated to

do their work.

The agent acts as a link between the company and the insurers. So the selection

procedure for agents should be made tough so that only capable people fit into

the criteria.

The documentation part of taking a policy should be made simple and flexible.

This will enable the people to take more and more number of policies.

~ 64 ~


65/70

CONCLUSION

Insurance industry in India is witnessing a rapid growth. Players are adopting different

strategies for the changing environment and growing competition. The scope for

potential growth in life insurance market is contributed by an underinsured market,

changing demographic profile, low level of insurance awareness, growth of the

economy and changing socio-cultural behavior of the people.

Innovative products, smart marketing, and aggressive distribution have enabled

fledgling private insurance companies to sign up Indian customers faster than anyone

expected. Indians, who had always seen life insurance as a tax saving device, are now

suddenly turning to the private sector and snapping up the new innovative products on

offer.. The basic purpose for which life insurance industry was set up has been lost.

People just consider it as a tax saving instrument. So people should be made aware that

life insurance is an instrument that helps an individual in his difficult times.

Today the acceptance of unit-linked products on the back of a well developed mutual

fund market is the greatest strength of an insurance company to prevail in the insurance

sector.

~ 65 ~


66/70

QUESTIONNAIRE

Your fair views are required in order to perform an unbiased analysis with the

details provided by the questionnaires filled by you. All the information provided

by you will be kept confidential.

PERSONAL DETAILS:

NAME:

AGE: ....

GENDER: .

OCCUPATION:

SERVICE BUSINESS STUDENT

HOUSEWIFE OTHERS

1. WHOM DO YOU KEEP IN MIND WHILE TAKING AN INSURANCE

POLICY?

WIFE CHILDREN

YOURSELF OTHERS

2. HOW DO YOU RATE LIFE INSURANCE AS A MEANS OF INVESTMENT

VIS--VIS OTHER FORMS OF INVESTMENT?

EXCELLENT GOOD FAIR POOR

3. WHERE DO YOU WANT TO INVEST YOUR MONEY?

GOVT. COMPANY PVT. COMPANY

~ 66 ~


67/70

4. OUT OF THE FOLLOWING YOU HAVE AN INSURANCE POLICY OF.

LIC AVIVA TATA AIG

HDFC BIRLA SUNLIFE OTHERS

5. OUT OF THE FOLLOWING WHICH PLAN BEST SUITS TO YOUR NEED?

RANK IN ORDER OF PREFERENCE.

ULIP PLANS ------- WHOLE LIFE PLAN -------

ENDOWMENT PLAN ------- TERM PLAN -------

ANY OTHER ---------

6. WHAT IS THE APPROXIMATE PREMIUM PAID BY YOU ANNUALLY?

Rs. 5000 - RS 10000 Rs. 10000 - RS 15000

Rs. 15000 - RS 25000 Rs. 25000 - RS 50000

7. WHICH ACCORDING TO YOU IS AN IDEAL POLICY TERM?

(NO. OF YEARS YOU WILL BE WILLING TO PAY PREMIUM)

6 YEARS 9 YEARS 10 YEARS -15 YEARS

16 YEARS -20 YEARS 21 YEARS -25 YEARS

26 YEARS -30 YEARS MORE THAN 30 YEARS

8. TYPICALLY WHAT KIND OF RETURN WOULD YOU LOOK AT

5% 10% 11% 15% 16% 20%

21% 25% 26% 30% 31% 40%

41% 50% MORE THAN 50%

~ 67 ~


68/70

9. WHAT MOTIVATES YOU TO PURCHASE INSURANCE PLAN?

10. HOW IMPORTANT ARE THE FOLLOWING FACTORS WHILE

SELECTING AN INSURANCE POLICY?

11. ANY SUGGESTION TO IMPROVE SERVICES OFFERED BY VARIOUS

INSURERS.

..

**********THANK YOU*********

BIBLIOGRAPHY

Books such as:

~ 68 ~

FEATURES VERY

IMPORTANT

IMPORTANT MODERATELY

IMPORTANT

NOT

IMPORTANT

Saving

High return

Tax benefit

Old age benefit

Income security

FEATURES VERY

IMPORTANT

IMPORTANT MODERATELY

IMPORTANT

NOT

IMPORTANT

Returns on investment

Goodwill

SecurityAdditional benefit


69/70

Financial Instruments and Market L.M.Bhole and Jitendra Mahakud

Financial Management- Sudhindra Bhatt

Internet

www.economictimes.indiatimes.com

www.tataaiglifeinsurance.com

www.thehindubusinessline.com

www.wikipedia.com historical perspective

www.lic.com

www.irdaindia.org

www.insuranceindustry.com

http://business.mapsofindia.com

http://www.tata.com/company/releases

Information from TATA AIG office and training session.

~ 69 ~
http://www.economictimes.indiatimes.com/http://www.tataaiglifeinsurance.com/http://www.thehindubusinessline.com/http://www.wikipedia.com/http://www.lic.com/http://www.insuranceindustry.com/http://business.mapsofindia.com/http://www.tata.com/company/releaseshttp://www.economictimes.indiatimes.com/http://www.tataaiglifeinsurance.com/http://www.thehindubusinessline.com/http://www.wikipedia.com/http://www.lic.com/http://www.insuranceindustry.com/http://business.mapsofindia.com/http://www.tata.com/company/releases


70/70

Date post:	05-Apr-2018
Category:	Documents
Upload:	princyarora1989
View:	250 times
Download:	5 times

NEW a Project Report on TATA AIG

Documents