EXECUTIVE SUMMARY

This project entitled “A Study on Perception of Customers towards Life Insurance

with special reference to Birla SunLife” starts with a rationale behind preparing the
report, objective, a brief history of the brand and covers a variety of topics. In
today’s world, every individual wants to secure his future and one of the ways is
investment. While investing their money they expect capital appreciation along with
security and minimum risk involved in it.

Some investment avenues involve huge risk and some less risk. Depending on the
changing risk environment and emerging investment opportunities, investments
need to be evaluated on a regular basis and form strategies which will help in
minimizing the risk and maximizing the returns to the investor.

In this project, I am studying about the Perception of Customer towards Life

Insurance with special reference to Birla SunLife. I have taken surveys to see what
motivates a customer looks for before buying a Life Insurance Policy. To fullfill
these objective I went to existing customer who own atleast 1 insurance policy of
any company. At last I have concluded the report with the interpretation of tha data
and information collected is presented with the help of the charts and diagrams.

1
 TABLE OF CONTENTS
Chapter No. Topic Page No.
1 CONTEXTUAL BACKGROUND
A. Brief introduction of the Company
B. Industry and Market conditions
C. Competitor Analysis
D. Product or Service being studied
E. Purpose of study with Objectives
F. Development of Hypothesis/Research Question
2 LITERATURE REVIEW

3 RESEARCH METHODOLOGY
A. Research Design for primary data collection
B. Primary data and Secondary data
C. Sampling Method
D. Sample Size
E. Research Instrument used
F. Processing and collection of data
G. Statistical or Analytical Techniques used
4 Data Analysis and Interpretation
Testing of Hypothesis
5 Summary
Finding(s) of the study
Conclusion
Recommendation(s)
Limitation(s) of the study

6 Bibliography/Courses/References
Appendix

2
 Chapter 1
Introduction

A. Brief introduction of the company

Birla Sun Life Insurance Company Limited (BSLI) was established in 2000 as a joint venture
between the Aditya Birla Group, a well known and trusted name globally amongst Indian
conglomerates and Sun Life Financial Inc, leading international financial services organization
from Canada.
With an experience of over 9 years, BSLI has significantly contributed to the growth and
development of life insurance industry in India. BSLI currently ranks amongst top 5 private life
insurance companies in the country. Known for its innovation and industry benchmarks, BSLI has
several firsts to its credit. BSLI was the first Indian Insurance Company to introduce “Free Look
Period” and the same was made mandatory by IRDA for all other life insurance companies. In
addition to this BSLI also pioneered the launch of Unit Linked Life Insurance plans amongst the
private players in India. To establish creditability and transparency, BSLI enjoys the prestige to be
the originator of practice to disclose portfolio on monthly basis. These development benefits have
helped BSLI be closer to its policy holders’ expectations which gets further accentuated by the
compete bouquet of insurance products (viz. pure term plan, life stage products, health plan and
retirement plans) that the company offers.
In addition to this, the extensive reach through its network of 600 branches and 1, 75,000
empanelled advisors. The impressive combination of domain expertise, product range, reach and
ears on ground, helped BSLI cover more than 2 million lives since it commenced operations and
establish a customer base spread across more than 1500 towns and cities in India. To ensure that
customers have an impeccable experience, BSLI ensured lowest outstanding claims ratio of 0.00%
for FY 2008-09. BSLI also has the best Turn Around Time according to LOMA on all claim
Parameters. Such services are well supported by sound financials that BSLI has. The AUM of
BSLI stood at Rs. 8165 crores as on February 28, 2009, while as on March 31, 2009, the company
has a robust capital base of Rs. 2000 crores.

3
Vision:

To be a leader and role model in a broad based and integrated financial services business.

Mission:
To consistently pursue investor's wealth optimization by:

Achieving superior and consistent investment results.

Creating a conducive environment to hone and retain talent.

Providing customer delight.

Institutionalizing system-approach in all aspects of functioning.

Upholding highest standards of ethical values at all times.

Values

Integrity

Commitment

Passion

Seamlessness

Speed

Industry scenario
Insurance
Today insurance is a tool for investing money that provides an assurance of
security with attractive returns. Insurance is a risk transfer tool. Insurance means “it
covers all uncertain risk of financial assets” as we know that assets have some
economic value. Same that concept is followed on the human being. Insurance
protect the economic value of all financial assets.

4
 IC Continues to Dominate Life Insurance Segment
 As of 2016, life insurance sector has 29 private players in comparison to only four
in FY02
 With 70.4 per cent share market share in FY16, LIC continues to be the market
leader, followed by SBI (5.1 per cent), ICICI (4.9 per cent) and HDFC (4.1 per
cent)

Post liberalisation, the insurance industry in India has recorded significant growth.
The Indian insurance industry is expected to grow to US$ 280 billion by FY2020,
owing to the solid economic growth and higher personal disposable incomes in the
country.
There are 24 life insurance and 28 non-life insurance companies in the Indian
market who compete on price and services to attract customers. The industry has
been spurred by product innovation, vibrant distribution channels, coupled with
targeted publicity and promotional campaigns by the insurers.
Government has approved the ordinance to increase Foreign Direct Investment
(FDI) limit in Insurance sector from 26 per cent to 49 per cent which would further
help attract investments in the sector.

5
The Insurance Regulatory and Development Authority (IRDA) recently allowed
life insurance companies that have completed 10 years of operations to raise
capital through Initial Public Offerings (IPOs).
uring the first half of FY 2016-17 the Life Insurance industry reported a 20 per
cent growth in overall annualised premium equivalent with the help of both private
players and Life Insurance Corporation

market scenerio
Life Insurance
Life insurance is also an attractive financial instrument for the security purpose and
sharing of the uncertain risk. Life insurance may be the other form of saving
investment with safety returns. Like as the following ways:-
 Saving through life insurance guarantee financial protection against risk of
death of policy holder.
 Liquidity means providing loan and conversion of cash easily. When you
need money it will provide in proper way.
 Tax rebate is also another form for saving.
 Providing the full sum assured when any loss of the financial assets.
 Long term savings can be made in a relatively painless manner because of
the easy installment facility.
 Providing all the basic benefits which are coming under the life insurance
plans.

6
 Competitor analysis

It is marketing and strategic management is an assessment of the strengths and

weaknesses of current and potential competitors. This analysis provides both an
offensive and defensive strategic context to identify opportunities and threats.

SWOT Analysis

1. Has Network of 600 branches and advisors spread over 1500

towns in India having over 130,000 advisors
2. Backed By Aditya Birla Brand and Sun Life financial services
3. Emphasis on Customer Satisfaction through Transparent
Functioning

Strength 4. Strong Capital Base

1. Low Presence in Rural Market

Weakness 2. Lesser advertising as compared to competitors

1. Growing potential in the Rural Market

2. Alignment with Government Schemes
Opportunity 3. Better awareness amongst people for getting insurance

1. Economic crisis and economic instability

Threats 2. Entry of new NBFCs in the sector

Competition

1. LIC
2. SBI Life Insurance

Competitors 3. HDFC Standard Life

7
Life Insurance Corporation (LIC) is the biggest life insurer in India and totally
owned by the union government. It specializes in individual life insurance,
pension plans, and group insurance plans. The organization has in excess of 12
million policyholders and more than 9 lakh agents. Till date it has issued in
excess of 120 million policies.

ICIC Prudential Life Insurance has a big network comprising more than 1900
branches, which includes 1074 micro offices and more than 210,000 advisors.
It is one of the earliest life insurers to have received the AAA (Ind) National
Financial Strength rating from Fitch.

HDFC life has a commendable presence in more than 700 towns and cities and
has 568 branches. It has employed approximately 2 lakh financial advisors for
dealing with different requirements of their customers such as protection,
investments, pension, health, and savings. It also offers customized plans for
the convenience of its clients.

8
Products

Vision Money Back Plus:-

BSLI Vision Money Back Plus Plan is a traditional Money Back Plan providing
regular payouts to meet liquidity requirements and also life insurance coverage for
security purposes.
Key Features
 It is a participating plan with limited premium payment option

 Survival benefits are paid after every 4 or 5 year as chosen

 The survival benefits can be deferred until the next payout to enhance the
amount of payout

 Simple reversionary bonus and terminal bonus add to the corpus

Benefits
 Survival benefits accrue every 4 or 5 years starting @ 10% or 15% and
thereby increasing by 5% in every subsequent payout

 On death of the policyholder, SA on death + accrued Reversionary Bonuses

and Terminal Bonus, if any is paid

 Sum Assured on death is higher of the SA chosen or 10 times the annual

premium

9
 The minimum death benefit should be 105% of all premiums paid till death

 On Maturity, the accrued Reversionary Bonuses and Terminal Bonus is paid

to the policyholder

 Income tax benefit on the premium paid as per Section 80C and on the claims
received as per Section 10(10D) of the Income Tax Act.

Minimum Maximum

Entry Age(last birthday) 13 years 45 years

Maturity Age(last - 75 years

birthday)

Policy term ( PT) in 20, 24 or 25

years

Premium paying term 10 or 12

(PPT) in years

Premium paying Annual, half-yearly,

Frequency quarterly and monthly

Premium Depends on SA, age,

term and PPT

Sum assured 100000 No limit

10
Vision life income plan
The Birla Sun Life Vision Plan is a Traditional non-participating Whole Life
Plan, which means that the returns are guaranteed and there is no Bonus declared
in this plan.

How it works – In this plan, premium needs to be paid till the end of the
Guaranteed Survival Benefit Term. This policy accrues Monthly Additions at the
end of each policy month for as long as the premiums are paid.
If the Life Insured survives till 100 years of age then the Sum Assured is paid to him
as Maturity Benefit. This plan has 5 additional riders available.

Death Benefit – In case of death of the Life Insured within the Policy Tenure, i.e.
before the Life Insured is 100 years old, then Death Benefit is paid to the nominee
and the policy would be terminated.

 Within the GSB Term, the Sum Assured + accrued Monthly Additions till
date of death + + enhanced Monthly Additions for tenure of more than 21
years, would be paid as Death Benefit
 After the GSB Term, the Sum Assured would be paid as Death Benefit

Survival Benefit— At the end of the Guaranteed Survival Benefit (GSB) Term,
the Sum Assured + accrued Monthly Additions + enhanced Monthly Additions for
tenure of more than 21 years would be paid as the Survival Benefit and the policy
continues.

Maturity Benefit – At the end of the Policy tenure, i.e. if the Life Insured survives
till 100 years of age, then the Sum Assured would be paid as Maturity Benefit and
the policy would terminate.

11
Entry Age (Age on last
1 – 60 years
birthday)
Policy Term Whole Life to Age 100
Premium Paying Term 15 to 40 years
Attained Age at end of Premium Paying Term is 18
Minimum
or more
Attained Age at end of Premium Paying Term is 75
Maximum
or less
Minimum Sum Assured Rs. 200,000
Minimum Premium Rs. 18,000
Premium Frequency Annual, Semi-annual, Quarterly, Monthly

12
Purpose of study/Research question:-

What is the perception of customers towards life insurance with special

reference to Birla Sun Life?

Objectives:-

1. To identify the motivation of people behind buying life insurance policies.

2. To determine policies likely to be in demand in future

3. To identify dependence of age on types of plan customer buys.

Variables:-
There are certain variables which affects customer perception for buying insurance
plan
 Tax benefit

 Child education

 Investment

 Child marriage

 Retirement

 Protection

.2.
13
 Literature review

REVIEWS RELATED TO LIFE INSURANCE POLICY HOLDERS AWARENESS

Chaudhary (2012)2 explained that today India is one of the fastest growing
economies of the world. The Insurance Industry contributes to the financial sector
of an economy and also provides social security to the people of a country. The
income earning capacity and increasing rate of literacy are the key factors of the
growth of the Insurance industry. This sector provides for the long term contractual
savings and security. The investors in life insurance are looking for both good return
and life risk coverage. This study is conducted in Panipat city to check the awareness
and satisfaction level of insurance buyers/ consumers. To achieve these objectives,
a questionnaire is designed to collect the data of buyers of insurance.

REVIEWS RELATED TO PUBLIC AND PRIVATE LIFE INSURANCE

Dhanabhakyam and Anitha (2011)9 explained that the insurance sector, along with
other elements of marketing, as well as financial infrastructure have been touched
and influenced by the process of liberalization and globalization in India. The
customer is the king in the market. Life insurance companies deal in intangible
products. With the entry of private players, the competition is becoming intense. In
order to satisfy the customers, every company is trying to implement new creations
and innovative product characteristics to attract customers. Keeping this in mind, the
present study is designed to analyze the innovation in Life insurance sector in India

REVIEWS RELATED TO POLICY HOLDERS BUYING BEHAVIOUR Eck and

Nizovtsev (2006)13 stated that to determine the major reasons for the lack of success
in marketing life insurance in Latin America and the Caribbean. Their results point

14
at the importance of cultural variables of which the most significant is the percentage
of the population that professes to be Catholic. They attribute this to a strong
correlation between religious beliefs and risk preferences. The other major factor is
the population’s attitude toward financial instruments in general. Both results are
robust to the model specification. The findings should be of interest to insurance
companies attempting to market life insurance throughout the world.

REVIEWS RELATED TO LIFE INSURANCE POLICY HOLDERS PERCEPTION

Chowdhury et al., (2007)36 found that this is the law of nature that people have to
live and play with hazards and to some extent insurance policy can free people from
those frustrations. Even if this is true, people of Bangladesh still don’t prefer to
insure themselves. One may think that the people of Bangladesh are risk lover; on
the other hand other may contradict by saying that their low purchasing power
doesn’t permit them to avail insurance policy. This study will highlight those issues
relating to non popularity of insurance companies in Bangladesh. To find marketing
side problems, Gap-model of service marketing will be fitted to the insurance
industry of Bangladesh.

.3.
RESEARCH
METHODOLOGY

15
Introduction :
Research can be defined as systematized efforts to gain knowledge. A research is
carried out by different methodologies, which have their own pros and cons.
Research methodology is a way to solve research problem along with the logic
behind them. First of all it is necessary to create research design.
RESEARCH DESIGN:
Basically there are three of approaches
Exploratory
Descriptive
Experimental
I have used descriptive research. Descriptive research includes surveys and fact
finding enquire of all kinds.
Research Instrument: Survey Method
SAMPLING:
We can say that sampling is the collection of information about an entire population
through examining a part of it. This is the best way for getting information which
going to help me to analysis the product performance and current market position of
the company.
TYPES OF SAMPLING:
1) Probability Sampling
2) Non- Probability Sampling
I have used non probability sampling. Under this I have chosen convenience
sampling.

METHOD OF DATA COLLECTION:

16
While deciding about the method of data collection to be used for the study, there
are only two types of data –
 Primary Data
 Secondary Data

REASONS FOR SELECTING PRIMARY DATA:

In terms of primary data a structured questionnaire was prepared to interview those
who have at least one Life Insurance policy.
SECONDARY SOURCE:
 Internet (Google . com &Ask . com)
 Various journals reports, magazine etc was used.
 Reports of the financial institute providing financial services.
 Interacting with the sales department heads of SMC.

There are two types of modes to collect the data.

1. Observation Method
2. Survey Method

As far as the data collection method is concerned, designing the data collection for
Survey method is applicable to the project. A survey can be conducted by
PERSONAL INTERVIEW, TELEPHONIC INTERVIEW, E-MAIL.
Amongst the above, I had conducted Personal interview.

SAMPLE UNIVERSE &UNIT:

My sample is not restricted by any boundation. Sample population is residing in
Pune city (wakad) , 110 were those who have at least one insurance policy.
SAMPLE SIZE: A total number of 110 people were interviewed.
.4.

17
 Data Presentation
Analysis
&
Interpretation

METHODS OF DATA ANALYSIS:

Every Questions of this questionnaire is analysed separately for better understanding

the behaviour of the respondent.

Introduction:

These Survey forms are filled by those people who have taken at least one
Life Insurance so that we can get in-depth details about the actual feedback of the
clients. Many of the clients were given survey forms at Birla SunLife pune.

1. Which company Insurance Plan do you have?

18
 Life Insurance Policy %
LIC 84 48
Birla Sunlife 34 19
SBI Life 9 5
ICICI Prudential 25 14
Tata AIG 4 2
Max New York 7 4
Reliance 5 3
HDFC Standard Life 6 3
Others 1 1

Life Insurance Policy

3% 4% 1% LIC
4%
2%
Birla Sunlife

14% SBI Life

48% ICICI Prudential

Tata AIG
5%
Max New York

Reliance
19%

INTERPRETATION :- Many respondents had taken more than 1 policy

from different company. In all I got 175 responses where LIC is leading
followed by ICICI prudential & Birla SunLife
2. Which Insurance Plan you have?

19
 Type of Insurance
%
Plan
Traditional 51 29%
ULIP 67 38%
Health 35 20%
Term 25 14%

Type of Insurance Plan

14%
29% Traditional
ULIP
20%
Health
Term

37%

INTERPRETATION:
Many respondents had taken more than 1 type of plan. In
this also, I got 175 responses. In recent times with the popularity of ULIP’s, the
traditional plans have taken a back seat. Only 15 respondents out of 175 had pure
term plan.

20
3. Why did you take this plan? (Choose any 2)

Reason for taking

%
Policy
Investment 35 17%
Child Education 15 7%
Child Marriage 8 4%
Protection 19 9%
Retirement 46 22%
Tax-Benefit 89 42%

Reason for taking Policy

16%

Investment

7% Child Education
42%
Child Marriage
4%
Protection
Retirement
9%
Tax-Benefit

22%

INTERPRETATION:
Every respondent was asked to tick 2 points, Surprising many
respondents were taking a Life Insurance not for protection but for tax-saving.
People also concentrated about retirement. Very less respondents had taken
for child marriage, protection.

21
4. From where have you taken the Insurance Policy?

Source of taking Insurance %

Advisor 80 73%
Tele-caller 8 7%
Bank 10 9%
Online 10 9%
Other 2 2%

Source of taking Insurance

9% 2%
9%
Advisor
7% Tele-caller
Bank
Online
73% Other

INTERPRETATION:

80 respondents had taken policy from Insurance advisor. Some Other

sources were Tele-caller, Bank, Online, Stalls.

22
5. Are you getting proper service from the Bank/Agent/Company?

Proper Services %
Yes 81 74%
No 29 26%

Proper Services

26%

Yes
74%

No

INTERPRETATION:

Only 81 respondents were getting good services from their respective seller,
while 29 respondents feel that they were not getting proper service from
their sellers.

23
6. Are you aware about Birla SunLife Insurance Company?

Know Birla
%
SunLife
Yes 99 90%
No 11 10%

Know Birla Sunlife

10%

90%
Yes No

INTERPRETATION:

99 respondents knew about Birla SunLife Insurance. This clearly states that
most of the people in the market know about Birla SunLife in the market
which is a positive sign for the distribution team.

24
7. From where do you know Birla SunLife?

Source of knowledge about Birla

%
SunLife
T.V Ads 8 8%
Radio Ads 3 3%
Newspaper/Magazine 15 15%
Online 6 6%
Advisor 50 51%
Broking Firm 8 8%
Bank 6 6%
Relatives/Friends 3 3%
Others 0 0%

25
 Source of knowledge about Birla
SunLife
6% 3% 0% 8% T.V Ads
3%
8% Radio Ads
15%
Newspaper/Magazine
Online

6% Advisor
Broking Firm
Bank
51%
Relatives/Friends

INTERPRETATION:

Most of the respondents came to know about Birla SunLife from advisors
proving that the company advisors are active in the market. To add Birla has
also made a mark through other mediums like TV & Radio Ads, Newspaper,
Magazines, & Online.

26
8. Do you have any Insurance Policy from Birla SunLife?

Birla SunLife Policy %

Yes 34 34%
No 65 66%

Birla sun life policy

34%

Yes
No
66%

INTERPRETATION:

Out of 99 respondents who knew about Birla SunLife, only 34 had taken a
policy of Birla SunLife, While 65 respondents had not taken the policy
which is not a good sign for company.

27
9. Are you going to buy any Insurance Plan in near future?

Buy Insurance Plan %

Yes 84 90
No 26 10

Buy Insurance Policy

10%

Yes
No

90%

INTERPRETATION:

84 respondents were interested in taking insurance Policy from birla sun life
in near future. While 26 respondents were not interested in taking any policy
from birla sun life insurance company.

28
10.What type of plan are you planning to take?

Plans to buy %
Investment 10 12%
Child 30 36%
Pension 5 6%
Term 10 12%
Health 29 35%

Plans to buy
12%

34%
Investment
Child
Pension
36% Term
Health

12%
6%

INTERPRETATION:

According to the feedback forms, Investor will be buying a child &

Health plan in near future. The company must create awareness about the
Term & Pension plan

29
For objective 1. To identify the motivation of people behind buying life
insurance policies.

18-25 26-35 36-60

Tax benefit 28 46 15
Child education 4 6 6
Investment 25 8 4
Child marriage 1 3 3
Retirement 13 29 5
Protection 4 10 6

50

45

40

35

30
18-25
25
26-35
20
36-60
15

10

0
Tax benefit Child Investment Child Retirement Protection
education marriage

30
Surprisingly respondent was taking a Life Insurance not for protection but for tax-
saving followed by Investment & retirement. So the main motive behind purchasing
insurance is not a protection but the tax benefit.
According to my data 18-25 age bracket will Purchase insurance because of tax
benefit and investment on the other hand people whose age is in between 26-35
purchase insurance because of tax benefit and retirement.

31
For objective 2 :- To determine policies likely to be in demand in future

traditional ULIP health term

below 100000 4 1
1-3 lakhs 17 21 7 7
3-5 lakhs 22 17 22 12
5-10 lakhs 7 24 6 4
10 lakhs above 1 3

30

25

20
traditional
15 ULIP

10 health
term
5

0
below 100000 1-3 lakhs 3-5 lakhs 5-10 lakhs 10 lakhs
above

According to my survey details most demanded plan is ULIP plan. As ULIP plan is
short term plan so those customers whose salary are in between 1-3 lakhs and 5-10
lakhs are attracted towards ULIP plan because there returns are high but risky.
Those whose salary are in between 3-5 lakhs are shifted to traditional and health
plans because they have limited money and they want to secure there selves first.

32
For objective 3:- To identify dependence of age on types of plan customer buys.
Count of plan Column
to buy Labels
healt investmen pensio ter Grand
Row Labels child h t n m Total
18-25 6 8 5 2 21
26-35 18 18 3 2 6 47
36-60 6 4 2 3 2 17
Grand Total 30 30 10 5 10 85

20
18
16
14
child
12
health
10
investment
8
pension
6
term
4
2
0
18-25 26-35 36-60

According to this analysis people wants child and health plans more than term plans
so companies will focus on their child and health plans.

33
For 18-25 age group people health plan is important and retirement plans are not
important.
For 26-35 age group child and health plans are most important compare to pension
For 36-60 age group also child plans are important.

34
 Findings:

 LIC is the market leader in Life Insurance with approx 48% market share
followed by ICICI Prudential, SBI Life & Birla SunLife.

 People were hesitating to buy Private Company’s Insurance Policy.

 Investors are ready to take little risk (by buying ULIP) if the brand of the
company is good.

 In recent times with the popularity of ULIP’s, the term and traditional plans
have taken a back seat.

 People are not taking term plan which is the most basic form of Insurance.

 Surprising respondent was taking a Life Insurance not for protection but for
tax-saving followed by Investment, retirement and child.

35
 Suggestions:

• Company should initiate relations with CA’s and tax filling agents to convert
their customer into our prospective client
• Company should create awareness about different Insurance Plans targeting
the higher educational institutions
• Most of the customer buy Insurance policy from advisors
• Give training on time to time basis
• Motivation Program
• conduct test for advisors
• Company should give timely intimation to Advisor & Customer Relating to
Policy document, Policy statements, New Plan
• Company should make the diversified distribution by having tie-ups with
Banks, Broking Firms etc.

LIMITATIONS OF THE STUDY

36
 It was difficult to find respondent as they were busy & collection of data was
difficult. Therefore, the study is carried out based on the availability of the
respondents.
 Some people were hesitant to opt for insurance policy from Birla SunLife as
they were keener towards insurance policies offered by LIC of India. Some
respondent’s behaviour and attitude was not satisfactory.
 Most of the customer data is been taken through customer coming in the
branch, which may give biased results towards Birla SunLife.

.7.
Conclusion
37
 Birla SunLife have maintained very good brand image in the mind of the
customers.
 Insurance Sector is booming, less than 4% of people have adequate money
after retirement.
 Birla SunLife should advertise & spread awareness about Insurance,
Retirement & Child Plan which will help the distribution network also.
 Insurance business depends on the distribution. Birla SunLife should invest in
training advisors & making the distribution system strong.
 Birla SunLife should concentrate on giving better after sale service.
 Government should also initiate awareness about Insurance products.
 Birla SunLife should concentrate on making its distribution network strong
by continues Motivation, Training & Regular Contests for its advisors.
 Company should make the diversified distribution by having tie-ups with
Banks, Broking Firms etc.

 Birla SunLife should start selling policy online by reducing the charges levied
on a particular policy.

38
Bibliography

1. www.birlasunlife.com
2. www.bloomberg.com
3. www.karvy.com
4. www.indiainfoline.com
5. www.mcxindia.com
6. www.ncdex.com
7. Business Today
8. Business World
9. Economic Times

39
 ANNEXURE
Name\
Gender:
Female:
Male:
Age:
18-25:
26-35:
36-60:
Occupation:
Business:
Service:
Student:
Profession:
Housewife:
Others:

Annual income:
below 100000:
100000-300000:
300000-500000:
500000-1000000:
1000000 and above:

40
Q What is your Annual savings?
Below 20000
20000-50000
300000-500000
500000-1000000
1000000 and above
Q What is your Annual savings *
0- 20000
20000-50000
50000-80000
more than 80000
Q Which company Insurance Plan do you have? *
LIC
Birla Sun Life
SBI Life
ICICI Prudential
Tata AIG
Max New York
Reliance
HDFC Standard
Other:

Q Which Insurance Plan you have? *

Traditional
ULIP
Health
Term
Q Why did you take this plan?(select any 2) *
Investment
Tax benefit
Insurance
Child Education
Child Marriage
Retirement

41
Q From where have you taken the Insurance Policy? *
Advisor
Tele caller/ corporate
Bank
Online
Other:

Q Are you getting proper service from the Bank/Agent/Company? *

Yes
No
Q Are you aware about Birla Sun Life insurance company? *
Yes
No
Q From where do you know Birla Sun LIfe? *
TV ad
Radio
Newspaper/Magazine
Online
Agent
Broking Firm
Bank
Relatives/Friends
Other:

Q Do you have any Insurance Policy from Birla Sun Life? *

Yes
No
Q Are you going to buy any Insurance Plan in near future? *
Yes
No
Q What type of plan are you planning to take? *
Investment
Child
Pension
Term
Health

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