PROJECT REPORT

ON
“COMPRATIVE STUDY OF LIFE INSURANCE
COMPANIES WITH RELIANCE COMPANY”
Conducted
at

C-Scheme,
JAIPUR BRANCH

(Submitted to University of Rajasthan in partial fulfillment of the degree of

Bachlor of business Administration.)

(Session
: 2010-2011)

Supervised by: Submitted By:

Dr. V.K.Saini Gaurav Kumar Khandelwal
Faculty B.B.A. Final year
Deatt. Of B.B.A.

Siddhi Vinayak College of Eng. & Hr. Edu,

Alwar
Dr. V.K.Saini
Faculty, Department of B.B.A.
Siddhi Vinayak College,Alwar

CERTIFICATE

This is to certify that the internship report titled “COMPRATIVE

STUDY OF LIFE INSURANCE COMPANIES WITH

RELIANCE COMPANY” Survey at “INSURANCE

SECTOR” C-Scheme has been prepared by Gaurav Kumar

Khandelwal under my guidance.

Place:Alwar Dr. V.K.Saini

Date: (Project Guide)

 DECLARATION

I hereby declare that this project is my original work. It has not been copied from
anywhere. I have collected all the information regarding the complete
disbursement procedure by working at the “comparative study of life insurance
companies with Reliance Company”. I have gone through each and every
theoretical and practical aspects of the processing.

Gaurav Kumar Khandelwal

PREFACE
A project report may be described plan of any activities undertaking. We may say that
the project reports described are various activities of his concern. It gives us practical
aspect of the concerning subject.

At present insurance Sector has emerged as one of the good business amongst other,
everyone wants to get insure himself/herself because nobody knows that what will happen
in future. Except in everyone wants to invest the money where it increases at a desirable
rate with safety. These are the reasons why insurance sector is getting the Covent of
people. Now Insurance sector is expanding its wings without carrying any boundary. Large
number of companies are dealing in this field and trying to encase the potential customer.

The numbers and importance of project report operating is growing at a very fast rate in
the society. We now need input from different specialization area; the project report is
very suitable for detailed study on any area.

I have been given a project report on :-

 Study the perception of consumer preferences towards Life Insurance with special
reference to Reliance Life Insurance Company.
 Study the perception of Advisor preferences towards Life Insurance with special
reference to Reliance Life Insurance Company.
 Study of Reliance Life Insurance product.
 Comparison of Life Insurance Companies with reference Reliance.

I would like to place my deep sense of indebtedness to all respondents and my friends and all
other who have extended their help directly in making the project report.

ACKNOWLEDGEMENT
Success of my project depends upon two factors internal and external factor includes
sincere efforts, dedication to the work and good potential whereas internal factors includes
cooperation and support of Staff Members who patiently tell me about the schemes and
plans of the company.

I extend a whole hearted thanks to Mr. Md. Amir Sir (Sales Manager) under whom I
worked and learned a lot and for enlightening me with their knowledge and giving me the
opportunities to prove my management skills. His guidance at every stage of the project enable
me to successfully complete this project, which otherwise would not have been possible with
enthusiasm.

I would also like to express my sincere gratitude to Dr……… project supervisor, BBA and

Dr………, principal of Siddhi Vinayak College and Dr…….. maam for their sincere help
and guidance.

Reliance life Insurance for his valuable guidance and I’m heavily indebted to Mr. Md.
Amir Sir (Sales Manager),
Manager) suggestions, which I sincerely value and appreciate.

I thank my parents who are the backbone behind my deeds.

BBA (2010-2011)
Gaurav Kumar Khandelwal
BBA FINAL YEAR

TABLE OF CONTNTS
Chapter..1
 INTRODUCTION

Chapter..2
 COMPANY PROFILE
 RELIANCE CAPITAL
 HISTORY OF RELIANCE LIFE INSURANCE CO.
 CORPORATE PROFILE
 PRODUCT OF THE COMPANY

Chapter..3
 RESEARCH OBJECTIVE
 RESEARCH PROCESS
 SWOT ANALYSIS
 DATA ANALYSIS
 REFERENCE FOR RELIANCE

Chapter..4
 FINDINGS
 CONCLUSION
 RECOMMENDATIONS
 LIMITATIONS
 BIBLIOGRAPHY
 GLOSSORY
RELIANCE GROUP

The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private
sector enterprise, with businesses in the energy and materials value chain. Group's annual
revenues are in excess of US$ 34 billion. The flagship company, Reliance Industries Limited, is
a Fortune Global 500 company and is the largest private sector company in India.

The Group's activities span exploration and production of oil and gas, petroleum refining and
marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles and
retail.

Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre
producer in the world and among the top five to ten producers in the world in major
petrochemical products.

The Group exports products in excess of US$ 20 billion to 108 countries in the world. Major
Group Companies are Reliance Industries Limited (including main subsidiaries Reliance
Petroleum Limited and Reliance Retail Limited) and Reliance Industrial Infrastructure Limited.
 "Growth has no limit at Reliance. I keep revising my vision.
Only when you can dream it, you can do it."

Dhirubhai H. Ambani
Founder Chairman Reliance Group
December 28, 1932 - July 6, 2002

Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global leader
in the materials and energy value chain businesses.

He is credited to have brought about the equity cult in India in the late seventies and is regarded
as an icon for enterprise in India. He epitomized the spirit 'dare to dream and learn to excel'.

The US$ 100 billion Reliance Group is a living testimony to his indomitable will, single-minded
dedication and an unrelenting commitment to his goals.

GROWTH THROUGH COMMITMENTS

We care about

Quality
Research & Development
Health, Safety & Environment
Human Resource Development
Energy Conservation
Corporate Citizenship
Reliance believes that any business conduct can be ethical only when it rests on the nine core
values of Honesty, Integrity, Respect, Fairness, Purposefulness, Trust, Responsibility,
Citizenship and Caring.

The essence of these commitments is that each employee conducts the company's business with
integrity, in compliance with applicable laws, and in a manner that excludes considerations of
personal advantage.

We do not lose sight of these values under any circumstances, regardless of the goals we have to
achieve. To us, the means are as important as the ends.

FOR RELIANCE. . …

GROWTH IS CARE FOR GOOD HEALTH

Reliance's occupational health centers carry out pre-employment and periodic medical checkups
as well as other routine preventive services. Specialised tests like biological monitoring, health
risk assessment studies and audits for exposure to various materials are also performed. Health
education and awareness form an integral part of the health care programme at Reliance

GROWTH IS CARE FOR SAFETY

We believe that the safety of each employee is the responsibility of the individual as well as of
the whole community of employees
GROWTH IS BETTING ON OUR PEOPLE

Reliance builds with care a workplace that proactively fosters professional as well as personal
growth. There is freedom to explore and learn; and there are opportunities that inspire initiative
and intrinsic motivation. We believe that people must dream to achieve, that these dreams will
drive the company's excellence in all its businesses. Reliance thinks, behaves, lives and thrives
with a global mindset, encouraging every employee to reach his / her full potential by availing
opportunities that arise across the group.
 PRODUCTS & BRANDS

The Company expanded into textiles in 1975. Since its initial public offering in 1977, the
Company has expanded rapidly and integrated backwards into other industry sectors, most
notably the production of petrochemicals and the refining of crude oil.
The Company now has operations that span from the exploration and production of oil and gas to
the manufacture of petroleum products, polyester products, polyester intermediates, plastics,
polymer intermediates, chemicals and synthetic textiles and fabrics.
The Company from time to time seeks to further diversify into other industries. In January 2006,
the Company approved a plan to establish a retail business through a subsidiary Reliance Retail
Limited that will operate, among other things, supermarkets, convenience stores and specialty
stores across India. The Company approved initial expenditure of US$ 750 million to fund the
initial stages of this plan.

The Company's major products and brands, from oil and gas to textiles are tightly integrated and
benefit from synergies across the Company. Central to the Company's operations is its vertical
backward integration strategy; raw materials such as PTA, MEG, ethylene, propylene and
normal paraffin that were previously imported at a higher cost and subject to import duties are
now sourced from within the Company. This has had a positive effect on the Company's
operating margins and interest costs and decreased the Company's exposure to the cyclicality of
markets and raw material prices. The Company believes that this strategy is also important in
maintaining a domestic market leadership position in its major product lines and in providing a
competitive advantage.
 RELIANCE LIFE INSURANCE COMPANY PROFILE

Few men in history have made as dramatic a contribution to their country’s economic fortunes as
did the founder of Reliance, Shri. Dhirubhai H Ambani. Fewer still have left behind a legacy
that is more enduring and timeless.

But the role Dhirubhai cherished most was perhaps that of India’s greatest wealth creator. In one
lifetime, he built, starting from the proverbial scratch, India’s largest private sector enterprise.

When Dhirubhai embarked on his first business venture, he had a seed capital of barely US$ 300
(around Rs 14,000). Over the next three and a half decades, he converted this fledgling enterprise
into an Rs 60,000 crore colossus—an achievement which earned Reliance a place on the global
Fortune 500 list, the first ever Indian private company to do so.

Dhirubhai is widely regarded as the father of India’s capital markets. In 1977, when Reliance
Textile Industries Limited first went public, the Indian stock market was a place patronised by a
small club of elite investors which dabbled in a handful of stocks.
Undaunted, Dhirubhai managed to convince a large number of first-time retail investors to
participate in the unfolding Reliance story and put their hard-earned money in the Reliance
Textile IPO, promising them, in exchange for their trust, substantial return on their investments.
It was to be the start of one of great stories of mutual respect and reciprocal gain in the Indian
markets.

Under Dhirubhai’s extraordinary vision and leadership, Reliance scripted one of the greatest
growth stories in corporate history anywhere in the world, and went on to become India’s largest
private sector enterprise.
Through out this amazing journey, Dhirubhai always kept the interests of the ordinary
shareholder uppermost in mind, in the process making millionaires out of many of the initial
investors in the Reliance stock, and creating one of the world’s largest shareholder families.
 VISION & MISSION

VISION

Empowering everyone live their dreams.

MISSION

Create unmatched value for everyone through dependable, effective, transparent and profitable
life insurance and pension plans.

OUR GOAL

Reliance Life Insurance would strive hard to achieve the 3 goals mentioned below:

Emerge as transnational Life Insurer of global scale and standard.

Create best value for Customers, Shareholders and all Stake holders.

Achieve impeccable reputation and credentials through best business practices.

 ACHIEVEMENTS

 RLIC has been one of the fast gainers in market share in new business premium
amongst the private players with an incremental market share of 4.1% in the Financial
Year 2007-08 – from 3.9% in April 07 to 8% in Feb 08.( Source: IRDA)

 Also continues to be amongst the fast growing Private Life Insurance Companies
with a YOY growth of 195% in new business premium as of Mar’08.

 A Company that has crossed 1.7 Million policies in just 2 years of operation, post takes
over of AMP Sanmar business.

 Initiated Express Life – and Unique ’Over the Counter’ sales process for Unit Linked
Insurance Policies in the Industry.

 Accomplished a large distribution ramp-up in the Industry in a short span of time by

opening 600 branches in 10 months taking the overall branch network above 740.

 RLIC continues to be one of the two Life Insurance companies in India to be certified
ISO 9001:2000 for all the processes.
 ANATOMY OF PROJECT

FIRST OF ALL IT IS NECESSARY TO UNDERSTAND THE MEANING OF THE WORD

PROJECT….

“P” STANDS FOR WORD “PLANNING” WHICH DEALS WITH IDEA OF THE
THINKS, WHICH IS TO BE DONE BEFORE CONSTRUCTION OF WORK.

“R” STANDS FOR WORD “RESOURCE” MEANS THE FUIDE THAT HELPS TO
PRESENTS THE FUNCITON OF THE PLANNED AREA OF WORK.

“O” STANDS FOR “OVERLOAD EXPANSDION” OVER LOAD MEANS THE

ESTABLISHED EXPANISON, WHICH MAY OCCUR, IN THE MANUFACTURED
DESIGN & LAYOUT OF THE PROJECT WORK.

“J” STANDS FOR “JOINT WORK” WHICH HAS BEEN PLANNED TO BE DONE
BY THE COMMON JOINT EFFORT THE ART WORK.

“E” STANDS FOR THE WORK “ENGINEERING” SINCE FUNCTION IN THE WORK
IS TO BE DONE BY THE TECHNICAL PERSON UNDER THE GUIDE.

“C” STANDS FOR “CONSTRUCTION” WHICH IS VERY NECESSARY PART OF LIFE.

“T” STANDS FOR “TECHNIQUE” SINCE UNDER THE TECHNIQUE WORK IT IS

EASY TO DESIGN A PROJECT.
 RELIANCE CAPITAL

Business overview

Reliance Capital is one of India’s leading private sector financial services companies , and
ranks among the top 3 private sector financial services and banking companies, in terms of net
worth. Reliance Capital has interests in asset management and mutual funds, stock broking ,
life and general insurance , proprietary investments, private equity and other activities in
financial services .

Reliance Capital sees immense potential in the rapidly growing financial services sector in
India and aims to become a dominant player in this industry and offer fully integrated
financial services .

India (Mutual Fund) Regulations, 1996. RCL primarily focuses on funding projects in the
infrastructure sector and supports the growth of its subsidiary companies, Reliance Capital
Asset Management Limited , Reliance Capital Trustee Co. Limited, Reliance Limited.

As of March 31, 2005 the company’s investment in infrastructure projects stood at Rs. 1071
Crores. The investment portfolio of RCL is structured in a way that realizes the highest post- tax
return on its investments.
1990- The Company obtained permission from SEBI to take up merchant banking activities. The
Company undertook portfolio management services for reputed corporate clients.
-7,000 No. of equity shares subscribed for by signatories to the Memorandum of Association.
1991- 199,93,000 No. of equity shares of Rs. 10 each then issued at a par of which 9,93,000
shares were allotted to Indian Resident Directors , their friends, etc. 18,00,000 shares were
allotted to Reliance Industries Ltd. 18,00,000 shares were allotted to investment companies
in RIL Group . The remaining 154,00,000 shares were offered for public subscription
during April 1990, of which 10,00,000 shares were allotted on preferential basis to
employees ( including Indian working directors ) / workers of the Company. 77, 00,000 shares
were allotted on preferential basis to shareholders of Reliance Industries Ltd. The balance 67,
00,000 shares were allotted to public.
1992- 18,70,000 No. of equity shares allotted to Arsina hotels on its amalgamation in
January 218,70,000 Rights equity shares (prop 1:1, Prem. Rs30 per share) issued. Another 9600
shares issued to employees (only 7500 shares taken up).

1993- The Company issued 125, 00,000 12% non-detachable unsecured redeemable debentures
of Rs. 100 each with one non- detachable warrant entitling the holder to apply for 2 equity
shares of Rs. 10 each at a premium of Rs 40 per shares . Accordingly 250, 00,000 shares were
allotted on conversion of warrants.

1994- Pursuant to a resolution at the Extra Ordinary General Meeting held at 12 th February ,
the Company issued 137,00,000-12% non-convertible redeemable debentures of Rs 100 each
to promoters having one warrant entitling the holder to receive 2 equity shares to Rs. 10 each
at a premium of Rs. 40 per share within 12 months from the date of allotment . Accordingly
274, 00,000 No. of equity shares were allotted.

1995- The Company issued 142,29,500 Rights equity shares of Rs 10 each at a premium
of Rs. 40 per share in proportion 1:5 Another 429,57,200 shares at a premium of Rs. 130 per
share were issued through a Prospectus as follows : On firm allotment basis:

1996- The company had been allotted a plot by the Mumbai metropolitan Region
Development Authority (BMRDA) in the Bandra Kurla Complex, Mumbai.

• During the year under review , the company sponsored the launch of the two maiden
schemes of the Reliance Capital Mutual Fund.

• Reliance Share & Stock Brokers Ltd. (RSSB) , the company’s 100% subsidiary

engaged in the broking business , also made satisfactory progress during the year

under review.
1998- The Company’s bond/ debenture programmer is rated by Credit Analysis & Research
Limited as CARE “AA+” , indicating that the instruments carrying this rating are judged to be
of high quality by all standards, and as high investment grade.
• During the year, the Company suspended acceptance/renewal of fixed deposits. At the
end of the financial year, there were 705 deposits aggregating Rs. 0.84 Crores due
for repayment but which remained unclaimed on the due dates.

1999- Reliance Capital (RCL) has decided to move away from the traditional non-banking
finance company (NBFC) mould and convert itself into a special purpose vehicle – cum-
venture capital outfit, which will develop infrastructure projects and invest in InfoTech, the
Internet media and bio-tech start – ups.

2002 - Reliance Capital Ltd. Has annulled the forfeiture of 2200 equity shares which were
earlier forfeited by the Company due to non-payment of allotment monies. Hence members
should note that above mentioned annulled shares will be good delivery in the market.

2003- Reliance Capital has forfeited 12,61,455 Equity shares due to non- payment of

allotment or call money.

2004- Reliance Capital Limited acquires 11,24,209 shares representing 5.23% of the total
shareholding / voting rights of Ad labs Films Limited through open market.

The Acquirer is making an Open Offer to the public shareholders of Reliance Capital Ltd
“Target Company” to acquire up to 5,14,61,249 fully paid up equity shares, representing 20%
of the fully expanded voting equity capital of the Target Company
( including the entire share allotment as well as warrants ) at a price of Rs.231 (Rupees
Two hundred and thirty one only ) for each Share of the Target Company “Offer price” to
be paid in cash in accordance with the Regulations.
 RELIANCE LIFE INSURANCE
OVERVIEW:

With largest number of life insurance policies in force in the world, Insurance happens to be a
mega opportunity in India. It’s a business growing at the rate of 15-20 per cent annually and
presently is of the order of Rs. 450 billion. Together with banking services, it adds about 7 per
cent to the county’s GDP. Gross premium collection is nearly 2 per cent of GDP and funds
available with LIC for investments are 8 per cent of GDP.
A well-developed and evolved insurance sector is needed for economic development as it
provides long-term funs for infrastructure development and at the same time strengthens the risk
taking ability. It is estimated that over the next ten years India would require investments of the
order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in
infrastructure development to sustain economic growth of the country.

HISTORICAL PERSPECTIVE
The history of life insurance in India dates back to 1818 when it was conceived as a means
to provide for English Widows. Interestingly in those days a higher premium was charged
for Indian lives than the non-Indian lives as Indian lives were considered more riskier for
coverage.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the provident fund Act of 1912. Several frauds 20’s sullied
insurance business in Indian. By 1938 there were 176 insurance companies. The first
comprehensive legislation was introduced with the Insurance Act of 1938 that provided strict
State Control over insurance business..
The Government of India in 1956 , brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and Life Insurance
Corporation (LIC) was born. This was in conformity with the Government’s chosen path of State
lead planning and development.
The ( non-life) insurance business continued to thrive with the private sector till 1972. Their
operations were restricted to organized trade and industry in large cities. The general insurance
industry was nationalized in 1972. With this , nearly 107 insurers were amalgamated and
grouped into four companies- National Insurance Company , New India Assurance Company,
Oriental Insurance compnies. These were subsidiaries of the General Insurance Company (GIC).

CORPORATE PROFILE

GROUP MANAGING

Director Mr. Gautam Doshi,

Director Mr. Satya Pal Talwar
Group President Mr. Sam Ghosh
Chief Executive Officer Mr. P Nandagopal
Deputy Chief Executive Officer Mr. Malay Ghosh
Chief Human Resources Officer Mr. Maneesha Thakur
VP-Legal & Chief Financial Officer Mr. Rajesh Bahl
Chief Technology Officer Mr. C Mohan
Chief Investment Officer Mr. R Rangarajan
Chief Risk Officer Mr. S V Sunder Krishnan
Company Secretary Mr. Saroj K Panigrahi
GROUP MANAGING DIRECTOR

Gautam is the Group Managing Director of Reliance Anil Dhirubhai Ambani Group and Director
of Reliance Life Insurance Company Limited.
Gautam, a qualified Chartered Accountant, has served as the Chairman of the Institute of
Chartered Accountants of India for the year 1982–83. He was also elected to the Council of the
Institute of Chartered Accountants of India for two consecutive terms spanning over 1992 to
1998.
DIRECTOR
Satya Pal is the Director of Reliance Life Insurance Company Limited. He holds an
experience of more than 35 years in operations and policy formulation. Satya Pal holds a
degree in Law. He is a Certified Associate of the Indian Institute of Bankers and a
member of the Indian Council of Arbitration.

GROUP PRESIDENT

Sam is currently the Group President of Reliance Capital Limited. Sam has worked in the UK for
one of the leading Chartered Accountancy firms and then moved to Australia to join a subsidiary
of the Allianz Group where he held various senior positions in the finance and international
division.
Sam is a qualified Chartered Accountant and is a member of the Institute of Chartered
Accountant in England & Wales and Australia.

CHIEF EXECUTIVE OFFICER

Mr. Pnandagopal joined Reliance Life insurance Company Limited as CEO on October 4th,
2005-the day the share holding of AMP Sanmar was transferred to Reliance Capital Group.
 PRODUCTS OF RELIANCE LIFE INSURENCE

INSURANCE PLANS

Life is unpredictable, but in face of adversity, our responsibilities towards our parents, children
and loved ones need not be compromised. Insurance planning equips you to smooth out the
uncertainties and adversities that life might send you way, so that the best that life has to offer,
secure in the knowledge that you beloved ones are well provide for.

RELIANCE LIFE INSURANCE offers a complete range of insurance products

INDIVIDUAL PLANS:

SAVING (Endowment)

• Reliance endowment Plan

• Reliance special endowment plan
• Reliance cash flow plan
• Reliance child plan
• Reliance whole life plan
• Reliance connect 2 life plan

RETIREMENT

• Reliance golden years plan

• Reliance golden years plan plus
UNIT LINKED

• Reliance automatic investment plan (new)

• Reliance money guarantee plan
• Reliance market return plan

RISK/PROTECTION

• Reliance term plan

• Reliance simple term plan
• Reliance special term plan
• Reliance credit guardian plan

EMPLOYEE BENEFIT PLANS

RISK (PROTECTION)

• Reliance group term insurance policy

• Reliance EDLT scheme

PENSION

• Reliance group gratuity policy

• Reliance group superannuating policy
 WHAT IF CUSTOMER ALREADY HAS LIFE INSURANCE?

As an individual, for the extent of financial protection you need is different from that as a
married man which in turn is different from that as a parent. At each life stage, it is necessary to
re-evaluate the amount of protection and provision you require and adjust for the same.
Below are some of the events in you life for which you should reevaluate and plan your life
insurance needs.

LIFE STAGES

• Marriage
• Birth of a child
• Schooling of child
• College education of child
• Marriage of child

HOW DOES THIS PLAN WORK?

The premium contributed by you net of Premium Allocation Charges and Miscellaneous Charge
is invested in fund option of your choice for a specified period of time as selected by you and
units are allocated depending on the price of units for the fund/funds. The Fund Value is the total
value of units that you hold in the fund. The Policy has a minimum Guaranteed Fund Value
which is equal to total of all premiums paid (excluding any additional and extra premiums if
any), to be payable on survival to maturity or earlier death. The amount of top-up premiums paid
is also guaranteed on death provided there is no partial withdrawal. The amount of top-ups
premium is guaranteed on maturity provided the top-ups premium was paid at least 10 years
before the date of maturity and there is no partial withdrawal. The Sum Assured under the Policy
is fixed on the basis of the selected annual premium and Policy Term.
The Mortality Charges and Policy Administration Charges are deducted through cancellation of
units whereas the Fund Management Charge is priced in the Unit Value. The premiums for
riders, if selected, are payable over and above the premium for the basic Policy.

MATURITY BENEFIT:

The Maturity Benefit is the sum of Higher (Fund Value under Basic Plan and Premiums paid
under Basic Plan excluding any extra or additional premiums paid) and Maturity Benefit under
Top-Up.

If Policy Term is greater than ten years, the Maturity Benefit under top-up is the higher of
(Fund Value under the top-up and top-up premium paid provided there is no partial withdrawal
from that top-up)

If Policy Term is ten years, the Maturity Benefit under the top-up is the Fund Value under the
top-up.

The Policy Terminates on payment of the Maturity Benefit.

SUM ASSURED

The fixed Sum Assured under the Basic Plan will be calculated as the amount of annual
premiums payable for half the Policy Term

RIDER BENEFIT

You can add Accidental Death & Accidental Total and Permanent Disablement Benefit Rider &
Term Life Insurance Benefit Rider.

ULIPs OF RELIANCE LIFE INSURANCE:

 Reliance Always up, never down

Money guarantee plan Unbeatable protection

FORYOUR INVESTMENT

UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS

BORNE BY THE POLICYHOLDER.

Yes, it’s a trio the pace setter plan, which promises Life Protection, an opportunity to gain
control over your investments along with protection of downside risk.
For the select few like you, the Reliance money Guarantee plan is a unit Linked product
addressing comprehensive need to strike that prefect balance of Protection and Savings that you
deserve as you grow successfully. The Reliance money Guarantee plan is a Regular premium
Unit Linked Policy which guarantees the entire premium (including premiums for top-ups) paid
by you. This is a plan, which helps you reap all the benefits of a rising market simultaneously
protecting you from the downside risk of the market.

BENEFITS IN DETAILS

Capital Guarantee: The plan offers Capital Guarantee provided the Policy is kept in full force
by payment of due premiums on time.

Capital Guarantee under the Basic Plan: Premiums paid under the Basic Plan are guaranteed
on the maturity of the Policy or on death during the Policy Term.

Capital Guarantee under the Top-Up Premiums: Each top-up premium paid is guaranteed on
death during the Policy Term provided there are no partial withdrawals from that top-up.
Life Cover Benefit: The amount of Death Benefit depends on the age of the Life Assured at the
time of death.
If the age of the Life Assured at the time of death is more than 12 years last birthday while the
Policy is in force, the Company will pay the sum of:

Higher of (Sum Assured, Fund Value as on date of intimation of death under Basic Plan,
Premiums paid under the Basic Plan excluding any extra or additional premiums paid.)

Higher of (Fund Value as on date of intimation of death under top- ups and top-up premium paid
provided no partial withdrawal is made from that top-up)

However if the Life Assureds age at the time of death is less than or equal to 12 years last
birthday while the Policy is in force, the Death Benefit will be the sum of
Higher of (Fund Value as on date of intimation of death under Basic Plan and premiums paid
under the Basic Plan excluding any extra or additional premiums paid)

Higher of (Fund Value as on date of intimation of death under top- ups and top-up premium paid
provided no partial withdrawal is made from that top-up)

The Policy terminates on payment of the Death Benefit.

RELIANCE MARKET RETURN PLAN

You have always aspired for the best in life. And we help you achieve just that. With Reliance
Market Return plan you can have the twin advantage of insurance protection as well as reaping
the benefits of investment growth. It is a flexible plan which works all through your life and
meets the changing requirements like additional protection, liquidity through cash, option to
invest in different asset class, steady golden years and many more.

KEY FEATURES – RELIANCE MARKET RETURN PLAN:

 Twin benefit of market linked return and insurance protection

  A Unit Linked Plan, different form traditional Life Insurance products, with maximum
maturity age of 80 years
 Option to create your own portfolio depending on your risk appetite
 Choose from 4 different investment funds
 Flexibility to switch between funds
 Option to pay regular as well as single premium & Top-ups

RELIANCE GOLDEN YEAR PLAN

Retirement means different things to different people, while some want to relax and take a trip
around the world, some want to start up a venture of their own, and pursue a dream harnessed for
years.

The power to make your autumn years special lies only with you. The Reliance Golden Years
Plan gives you the power and the right kind of solution - A retirement plan that allows you to
save systematically and generate the much-needed corpus to make your olden years look golden.

UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO

IS BORNE BY THE POLICYHOLDER.

KEY FEATURES

 Invest systematically and secure your golden years.

 A flexible unit-linked pension product that is different. From traditional life insurance
products with Vesting Age between 45 and 70 years.
 Four different investment funds to choose from.
 Flexibility to switch between funds.
 Option to pay Regular, Single as well as Top-up Premiums.
 TRADITIONAL PLANS OF RELIANCE LIFE INSURANCE

Saving (Endowment)

Reliance Endowment Plan

It takes a lot for a dream to become a reality. And money is surely one of them.
Reliance Endowment Plan gives you just the financial independence to realize your dreams in
the future. It lets you decide how much you would like to set as your sum assured based on your
current financial position and your expected future expenses.

KEY FEATURES
 On maturity receive Sum Assured plus bonuses
 Wealth creation through bonus additions
 More value for your money by way of High Sum Assured Rebate.
 Increase your insurance protection by adding Term Cover
 Choose to pay regular or single premium.

RELIANCE CHILD PLAN

As a parent, it is only natural to dream of a smooth and blissful life for your child. Which is
exactly why you need to secure your child’s tomorrow, today?
Reliance Child Plan helps you save systematically so that you can give your child the much-
needed financial security in the future. Simply put, Reliance Child Plan gives you the freedom to
enjoy every moment with your child today, without worrying about his/her tomorrow.

KEY FEATURES:

 Risk protection for you during the term of the Policy

 Accumulated bonus at the end of the Policy Term
 25% of Sum Assured payable every year as lump sum benefit during the last four Policy
anniversaries
  All future premiums are waived in the event of unfortunate loss of life
RELIANCE CONNECT 2 LIFE PLAN
Reliance Connect 2 Life Plan helps you build security & savings for a better tomorrow. As your
income is likely to grow, you should also ensure that you have sufficient protection for your near
and dear ones. Reliance Connect 2 Life Plan ensures that you have the option to upgrade your
life cover to keep pace with your changing lifestyle.

KEY FEATURES & BENEFITS:

Maturity Benefit: On survival of the life assured until maturity, the Plan pays the sum assured
plus simple vested bonuses to the policyholder.

Death Benefit: In case of unfortunate death of the life assured before the maturity date, the Plan
pays the sum assured plus simple vested bonuses to the nominee.

Choice of two plans: At the time of initial purchase of Reliance Connect 2 Life Policy, you have
two kinds of plans to choose from namely, Gold Plan and Silver Plan.
The Reliance Connect 2 Life Gold Plan offers a life cover of Rs 2, 00,000 initially. You may
enhance your life cover to a maximum of Rs.10, 00,000 in two stages by exercising your option.

The Reliance Connect 2 Life Silver Plan offers a relatively lower life cover of Rs1, 00,000
initially. You may enhance your life cover to a maximum of Rs.5, 00,000 in two stages by
exercising your option. Options to enhance life cover: Under each of the above two plans, you
have an option to enhance your life cover amount

At the end of one year from the date of initial purchase of Reliance Connect 2 Life Gold / Silver
Plan, you are entitled to enhance your life cover by exercising your option to purchase an
additional Reliance Connect 2 Life Policy.
 RELIANCE SIMPLE TERM PLAN

To protect your family from tomorrow’s uncertainties, you need to plan from today. And
Reliance Simple Term Plan helps you do just that. It is a cost-effective, pure life insurance plan
that offers you comprehensive and affordable coverage for a limited period of time to suit your
needs.

POLICY TERM:

Policy Term: 3 years

WHO CAN BUY THIS PRODUCT?

Minimum age at entry: 18 years
Maximum age at entry: 44 years
Maximum age at maturity: 47 years

SUM ASSURED:

Sum Assured Rs 10,000

 WHAT HAPPENS IF I DISCONTINUE PAYING PREMIUM?

If the Premiums are not paid within the Grace Period, the Policy will lapse. Grace period is one
month but not less than 30 days.

General Exclusion:

No claim will be paid on death, if the Life Assured, whether sane or insane, commits suicide
within 12 months from the date of issue of this Policy or the date of any reinstatement of this
Policy.

15 Day Free Look Period:

The Policyholder may cancel this Policy by returning it to the Company within 15 days of
receiving it together with a letter requesting it be cancelled. The Company will refund the
premium paid by the Policyholder less a deduction:

Of the proportionate premium for the time cover has been provided till cancellation.

Of expenses incurred by the Company for medical examination of the Life Assured, Stamp
Charges and expenses incurred in that connection.

RELIANCE SPECIAL CREDIT GURDIAN PLAN

Reliance Special Credit Guardian Plan helps you and your family avoids such situations by
securing your housing loans, personal loans and even credit card payments. What makes the Plan
special is the fact that on survival at maturity, all premiums paid for your basic policy will be
returned to you.

KEY FEATURES:

 Different types of loans are covered under this plan - housing loan, personal loan,
outstanding on credit cards etc.
 Limited premium paying term Single & regular premium payment options.
 Discount on premium rates for women Decreasing Term Insurance.
 Option to add two riders – Critical Illness and Accidental Death Benefit & Total &
Permanent Disablement Rider.

RESEARCH OBJECTIVE
Research objective is the basis theme on which the survey is conducted and on which the whole
report depends.

The main Objective is:-

To study about the “Comparative Study of Life Insurance Companies with Reference Reliance”

The sub-objectives of this survey are:-

 To study the investment pattern of people in life Insurance.

 To find out which type of insurance is preferred by the investors.
 To study the factors responsible for the low investment in Life Insurance.
 To study the different facilities of life Insurance given by different companies.
 To study the risk factor involved in insurance.
 To study which company is providing better services of insurance with higher
returns.

.
 RESEARCH PROCESS

Problem Formulation

Research Design

Sample Design

Data Collection Technique

Field Work

Analysis and interpretation and Research Report

In the planning of the project and survey, the entire schedule of work was divided in to
13 steps which are as follows:-

 Defining the objectives

 Defining the population

 Data collection

 Questionnaire

 Methods of collecting data

 Non-respondent classification

 Selection of proper Sample size

 Organizing the field work

 Execution of the project

 Summery and analysis

 Information gathered for the further survey

 Preparation of the report

LET US UNDERSTAND ALL THE 13 STEPS IN DETAILS:-

(1) DEFINING THE OBJECTIVE :-

The main objective is to find out the awareness of life insurance in general public. This
survey is conducted to depict the behavior of the people in making investment,
especially in insurance.

(2) DEANING THE POPULATION:-

Population refers to the total items about which the information is desired. Here in this
project I have considered finite population that is we are taking one single individual as
single unit, which is fixed the 150 questionnaires, each separately by the single
individual.

(3) DATA COLLECTION:-

There are several ways of collecting the data which different considerably in context of
money, cost, time and other resources. In this project the data which was required gave
details about the behavior of people who make investments in insurance.

(4) QUESTIONNAIRE:-

To develop an effective questionnaire following points should be kept in mind:-

 Keep in view the problem to be studied.
 Questions should be appropriate and simple and must be Constructed with a view to
their forming a logical part of a well thought out tabulation plan.
 Proper sequencing of questions.

 Should be examined properly and if error found, should be removed.
 Pre-testing of questionnaire is necessary.
(5) METHODS OF COLLECTING DATA:-
Normally there are 2 methods of collecting the data
 Primary data
 Secondary data
In this project we require data, which is necessary to obtain the secondary data.
We have collected the information by directly communicating with the respondents though
questionnaires.

(6) NON-RESPONDENT CLASSIFICATION:-

It is very necessary to classify the respondents from the sample who didn’t give proper
reply while conducting the research. The reason for doing this is that it may create a
systematic bias.

(7) SELECTION OF PROPER SAMPLE SIZE:-

A sample design is a definite plan for obtaining a result from the given population. In
this project the sample size is of 150.

(8) ORGANIZE THE FIELD WORK:-

Fieldwork is done in this project individually with no buiasness. The fieldwork comprises
of filling of questionnaire by different sector individuals.

(9) EXECUTION OF THE PROJECT:-

Proper execution of the project is important. Steps should be taken to ensure that the
survey is under statistical control so that the collected information is in accordance with
the pre-defined standard o f accuracy.
(10) SUMMARY AND ANALYSIS OF DATA:-

Once the data is collected the next task is to analyze it. The raw data should be
classified into some purposeful usable categories. For example: tabulation, coding, etc

Analysis work, after tabulation, is generally based on the computation of various

percentages, coefficients, and etc. by applying various well - defined statistical formulae.
Here in this report it is found that the investment pattern of people in private insurance
companies is not satisfactory.

(11) INFORMATION GATHERED FOR FUTURE SURVEY:-

The information gathered for further survey is summarized as under:-

 Very less number of people is interested to invest in private insurance companies.

 prefer other options available of investing their money rather than Insurance.
 Maximum number of people expects “low risk with high profits” while investing
in any financial product.
 Almost all the people take the insurance plan from Insurance agents.

(12) PREPARATION OF THE REPORT:-

Final report is prepared according to the work done. Following points must be kept in
mind in this regard:-
  The layout
 Report should be concise and simple
 Proper graphs and c harts must be used for the explanation.
 Limitation in the report should be clearly, mentioned.

RESEARCH PROCESS ADOPTED:-

Research Area : C scheme

Sample Size : 150

Primary Data collected : Through Questionnaire

Secondary Data : Through Internet, Brochures, Company’s issues etc.

 SWOT ANALYSIS
STRENGTH
 Multi - channel distribution and one of the largest distribution networks in India.
 Customer centric product and services.
 Superior investment and risk management framework.
 Company has maximum number of MDRT as well as good number of
advisers.
 According to the change in surrounding environment like change in customer
requirement.

WEAKNESS

 Companies are not focusing on outskirt and remote areas and villages.
 There is no plan for the low income group.
 Fees of the adviser is high than the other company.

OPPORTUNITY

 Insurance market is very big where company can expand its horizon in insurance
industry.
 Through good investment and insurance it is easy to top Indian customers.
 The huge insurance market (77%) is left so company has opportunity to expand
out products.

THREATS
  Its still difficult task to win the confidence of public towards private company.
 The companies are facing major threats LIC which is an only government
company.
 Plans for all income groups are not available which can create adverse effect later
on the market share of the company.

DATA ANALYSIS

Quest 1:- ARE YOU KNOW ABOUT INSURANCE PLAN ?

Yes 144
No 6

4%

Yes No

96%

THE ABOVE GRAPH REPRESENTS THAT:

 The 96% persons are aware of the insurance plan &

  The 4% persons have no knowledge about the insurance plan.

Quest 2:- HAVE YOU ANY INSURANCE POLICY?

Yes 141
No 9

6%

Yes No
94%

THE ABOVE GRAPH REPRESENTS THAT:

• The 94% persons have the insurance policy & the 6% persons have not the
insurance policy.
Ques 3:- WHY HAVE YOU INSURANCE POLICY ?

Tax Benefit 40%

Family Protection
51%

Good Maturity 7%

Others 2%

7% 2%

Tax Benefit
40%

Family Protection

Good Maturity
51%
Others

THE ABOVE GRAPH REPRESENTS THAT:

• There are 40% people have taken Insurance Policy for Tax Benefit.
• There are 51% people have taken Insurance Policy for Family Protection.
 • There are only 7% people have taken Insurance Policy for Good Maturity.
• There are only 3% people have taken Insurance Policy for others reasons.

Quest 4:- FROM WHICH COMPANY?

Reliance Insurance Company

26%

ICICI Pru. 13%

Life insurance Company

36%

Others 25%

25% 26%

RLIC

ICICI Pru.

13% LIC
Others
36%

THE ABOVE GRAPH REPRESENTS THAT:

• There are 36% people have policy of Life Insurance company.

• There are 26% people have policy of Reliance Life Insurance company.
 • There are 25% people have policy of Others Life Insurance company
• There are 13% people have policy of ICICI Pru.

Quest 5:- FROM WHERE YOU HAVE GOT INFORMATION ABOUT YOUR
POLICY?

Advertisement 7%
Friends / Relations 39%
News paper 6%
Agent 48%

80

70

60

50 Advetisement
Fri./Relations
40
Newspaper
30 Agent
20

10

0
1 2 3 4 5

THE ABOVE GRAPH REPRESENTS THAT:

• There are 48% Peoples who take the policy through the Agent.
• 39% Peoples who take the policy through the Friends or Relations.
• 7% Peoples who take the policy through the Advertisement.
• 6% Peoples who take the policy through the News Paper.
Quest 6:- WHAT TYPE OF PRODUCT TO BE USED ?

ULIPs 41%
TRADITIONAL 59%

41

59
ULIPs
Trad.

THE ABOVE GRAPH REPRESENTS THAT:

• There are 59% Customer have Traditional Product And 41% Customer have
ULIPs Product .
Quest 7:- WHAT IS YOUR INVESTMENT AMOUNT ?

10,000 – 25,000 34%

25,000 – 50,000 35%

50,000 – 1 Lac 17%

Above 1 Lac 14%

40
35 1
30
25
20
34 35
15
10 17 14
5
0
10000-25000 25000-50000 50000-1 Lac Above 1 Lac

THE ABOVE GRAPH REPRESENTS THAT:

• There are Max. 35% person invest amount in between 25,000 to 50,000 Rs.
• Then after 34% person invest in between 10,000 to 25,000 Rs.
• Then after 17% person invest in between 50,000 to 1 Lac Rs.
• Then after 14% person invest on above 1 Lac .
Quest 8:- HOW MUCH OLD YOUR POLICY ?

0 – 1 Year 14%

1 - 2 Year 23%

2 - 3 Year 25%

Above 3 Year 38%

40 38

35

30
25
25 23

20
14
15

10

0
0-1 year 1-2 year 2-3 year Above 3 year

THE ABOVE GRAPH REPRESENTS THAT:

• There are 38% Person whose Policy old above 3 Years.

• Then 25% Person whose Policy old 2 to 3 Years.
• Then 23% Person whose Policy old 1 to 2 Years.
• Then last 14% Person whose Policy old only 0 to 1 Year.
 ARE YOU SATISFIED WITH

1 : - Fund Performance

Good 62%
Average 33%
Below Average 3%
Poor 2%

70

60

50

40

30 62

20
33
10
3 2
0
Good Average Below Poor

THE ABOVE GRAPH REPRESENTS THAT:

• The 62% Peoples are said that the Fund Performance of his Policies is Good.
• The 33% Peoples are said that the Fund Performance of his Policies is Average.
• The 3% Peoples are said that the Fund Performance of his Policies is Below.
• The 2% Peoples are said that the Fund Performance of his Policies is Poor.
2 : - ALLOCATION SYSTEM:

Good 43%
Average 54%
Below Average 3%
Poor -

60

50

40

30
54
43
20

10
3
0 0
Good Average Below Poor

THE ABOVE GRAPH REPRESENTS THAT:

• 43% customer said that allocation system of his company is Good.

• 54% customer said that allocation system of his company is Average.
• last 3% customer said that allocation system of his company is Below.
3 : -ADVISOR SERVICE:

Good 29%
Average 46%
Below Average 16%
Poor 09%

50
45
40
35
30
25
46
20
15 29
10 16
5 9
0
Good Average Below Poor

THE ABOVE GRAPH REPRESENTS THAT:

• The 46% Customer said that the Advisor service of the company is Average.
• The 29% Customer said that the Advisor service of the company is Good.
• The 16% Customer said that the Advisor service of the company is Below.
• The 9% Customer said that the Advisor service of the company is Poor.
4 : - COMPANY REPUTATION

Good 81%
Average 17%
Below Average 2%
Poor -

90
80
70
60
50
40
30
20
10
0
Good Average Below Poor

THE ABOVE GRAPH REPRESENTS THAT:

• 81% People said that the Company Reputation of his company is Good.
• 17% People said that the Company Reputation of his company is Average.
• 2% People said that the Company Reputation of his company is Below.
5 : - BRANCH SUPPORT:

Good 47%
Average 42%
Below Average 08%
Poor 03%

50
45
40
35
30
25
20
15
10
5
0
Good Average Below Poor

THE ABOVE GRAPH REPRESENTS THAT:

• 47% Peoples are said that the Branch Support of his company is Good.
• 42% Peoples are said that the Branch Support of his company is Average.
• 8% Peoples are said that the Branch Support of his company is Below.
• 3% Peoples are said that the Branch Support of his company is Poor.
 HAVE YOU ANY RELIANCE LIFE INSURANCE POLICY

Yes 26%
No 74%

26%

74%
Yes No

THE ABOVE GRAPH REPRESENTS THAT:

• There are 74% People have not Reliance Life Insurance Policy.
• And only 26% People have Reliance Life Insurance Policy.
 WHICH POLICY

Automatic Insurance Policy 33%

Market Return Policy 06%
Money Guarantee Policy 44%
Golden Year Policy 06%
Child Secure Policy 05%
Super Investment Assurance Policy 06%

5% 6%
6% 33% AIP

MRP

MGP

6% GYP
44%
C. Secure

SIAP

THE ABOVE GRAPH REPRESENTS THAT:

• There are 33% People have Reliance Automatic Insurance Policy.

• There are 06% People have Reliance Market Return Policy.
• There are 44% People have Reliance Money Guarantee Policy.
• There are 06% People have Reliance Golden Year Policy.
• There are 05% People have Reliance Child Secure Policy.
• There are 06% People have Reliance Super Investment Assurance Policy.
 REASON TO PURCHASE TO RELIANCE LIFE INSURANCE POLICY

High Return 25%

Brand 06%
Better Portfolio 25%
Others --

0%
25%

High Ret.

6% Brand
69%
Better Port.

Others

THE ABOVE GRAPH REPRESENTS THAT:

• There are 69% peoples takes the Reliance Policy for the High Return.
• There are 25% peoples takes the Reliance Policy for the Better Portfolio.
• Last 06% peoples takes the Reliance Policy for the Good Brand Name.
 HOW TIME YOU HAVE BEEN USED RLI COMPANY

1 Times 83%
2 Times 11%
3 Times 06%
Above 3 Times ----

6% 0%
1 1%

1 tim es

2 tim es

3 tim es

83% A b o ve 3
tim es

THE ABOVE GRAPH REPRESENTS THAT:

• There are 83% peoples used the Reliance Policy only One Times.
• There are 11% peoples used the Reliance Policy Two Times.
• Last 06% peoples used the Reliance Policy Three Times.
 YOUR NEXT POLICY IN FUTURE FROM WHICH COMPANY

Reliance Life Insurance Company 31%

ICICI Pru. 11%
Birla Life Insurance Company 14%
Others 44%

31%
44%
RLIC.

ICICI
Pru.
BLIC.
11%
Other
14%
s

THE ABOVE GRAPH REPRESENTS THAT:

• There are 44% Reliane customer said that they take next Policy in Future from
Others Company.
• There are 31% Reliane customer said that they take next Policy in Future from
Reliance Company.
• There are 14% Reliane customer said that they take next Policy in Future from
Birla life Insurance Company.
• There are 11% Reliane customer said that they take next Policy in Future from
ICICI Pru. Company.
 ARE YOU SATISFIED WITH POLICY OF RLI COMPANY

Yes 89%
No 11%

11%

Yes

No
89%

THE ABOVE GRAPH REPRESENTS THAT:

• There are 89% Reliance Policy customers said that they are satisfied with Policy
of Reliance life Insurance Company.
• There are last 11% Reliance Policy customers said that they are not satisfied with
Policy of Reliance life Insurance Company.
IF ANY ANSWER TO ABOVE QUESTION IS “NO” THUS WHAT

Is The Reason?

Not Information 18%

Not Belive In Company 11%
No Money 26%
Others 45%

18%

45% 11% Not Info.

Not
Bel.In.Comp.
No Money

26% Others

THE ABOVE GRAPH REPRESENTS THAT:

• There are 45% People are said that there are any others reason for not taking the
Reliance Life Insurance Policy.
• There are 26% People are said that they have no money for taking the Reliance
Life Insurance Policy.
• There are 18% People are said that they have not information about the Reliance
Life Insurance Policy.
 FINDINGS

 It was found that there are every person aware and eagerness about the

life insurance.

 Generally people awareness and eagerness about the life insurance

Through the Agent.

 It was found that the max. people take the Policy for Family Protection

then after Tax Savings.

 People mostly prefer Traditional Plan in comparison to ULIPs Plans.

 In Sitapur customers prefers LIC most than any other private life insurance

company.

 Customers mainly prefer those plans which have lower premium, good

returns & minimum risk.

 Young generation mostly prefers short term investment and they will move

towards high risk and high return.

 Max. People invest amount in near about 25 thousand to 50 thousands.

 Generally people like to have their life insurance of more than

3 Year.

 Max. People are said that the advisor service is not good for any

company.
 RECOMMENDATIONS

Majority of the people take life insurance to cover the risks and uncertainties
associate with future. The need is to change this perception of the customer and to
make him realize that life insurance is also a type of investment.

 The customers are well aware that insurance is a people driven industry. The
perception is that it is basically the agent who explains, recommend, influence and
persuade at times pressurize the people to buy the policy. Thus focus on agents
needs to be increased.

 The basic factor guiding a customer while purchasing a policy is the price he
needs to pay as premium. It is thus recommended that the pricing policy should
be given utmost importance. It should be such that it suits the common man and
depositing premiums does not become a burden for him.

 Advertising should be designed in such a way that the communication objective

and sales objective are met, along with, stating the mission of the companies.

 Easy premium deposits, easy and fast claim setting with less paper work, are some
desired aspect.

 The rural people are not aware of benefit of life insurance. Massive advertisement
campaign is required to trap this ignored lot by the life insurance companies.
 CONCLUSION

The insurance sector plays a very vital role in the process of economic development of

any country. It acts as a mobiliser of savings, as financial intermediary, as promoter of

investment activates, as stabilizer of financial markets and as a risks manager. Insurance

service leads to efficient and productive allocation of capital resources, facilitate growth of trade

and commerce, substitute for governments social security programmers, and assist individuals

and firms in efficient management of risks, The major companies world over have realized the

need for adequate insurance in all perceptible areas affecting their firms, We may safely observe

that the insurance market may tremendously improve as India represents huge untapped market.

Globalization will certainly increase insurance penetration and all professionals should

equip themselves to exploit the opportunities offered by this sector

By analyzing the various results obtained from the market survey following points can

concluded about Reliance Life Insurance.

1- Customers prefer Reliance Life Insurance for High Return and

Better Portfolio.
2- Some customers preferring Reliance Life Insurance because of their brand image

and credibility in the market .

3- From all the products of Reliance Life Insurance customers prefer to buy for Good

Maturity.

4- Maximum no. of customer is aware about the Reliance Life Insurance

LIMITATION OF THE STUDY

• The sample size taken is very small to project the characteristics of the population
accurately.

• Potential estimation is based on the responses given by the customers in the

questionnaire , so the estimation is more subjective.

• There is a chance of biases in the responses given by customers as they may

hesitate in disclosing the exact information.

• High rate of illiteracy and lack of knowledge made the customer unable to
provide proper information in the rural market.
 BIBLIOGRAPHY

1- BOOK

Kothari C.R.,”Research methodology”, second edition, vishwa prakashan, New



delhi, 1990.

Kotler Philip,” marketing management,” prantice- Hall of India, New Delhi,



1991.

2- MAGAZINE

 Business Today

 Business India

 Business World
 3- NEWSPAPER

The Economic Times

4- WEBSITES

www.reliancelife.co.in

4- Brochures of the company.

COMPARATIVE STUDY OF LIFE INSURANCE

COMPANIES REFERANCE WITH RELIANCE

CUSTOMER NAME:_________________________________________
GENDER: MAIL ( ) FEMAIL ( )
AGE:_________________
OCCUPATION:______________________________________________
CONTACT NO:______________________________________________

1: Are you known about insurance plan?

YES NO

2: Have you any insurance policy?

YES NO
3: Why have you insurance policy?

A) Tax Benefit B) Family Protection

C) Good Maturity D) Others

4: From which company?

A) Reliance insurance Company B) ICICI pru.

C) Life Insurance Co. D) Others

5: From where you have got information about your policy?

A) Advertisement B) friends/relation

C) Newspaper D) Agent

6: What type of product to be used?

A) ULIPs B) Traditional

7: What is your investment amount?

A) 10000-25000 B) 25000-50000

C) 50000-1lac D) above 1lac

8: How much old your policy?

A) 0-1 year B) 1-2 year

C) 2-3 year D) above 3 year

9: Are you satisfied with?

Fund Performance

Good average below poor

 Allocation system

Good average below poor

Adviser service

Good average below poor

Company reputation

Good average below poor

Branch support

Good average below poor

COMPANY REFERENCE FOR

RELIANCE INSURANCE
10: Have you any reliance policy?

YES NO

11: Which Policy?

A) Automatic Insurance B) Market Return Policy

C) Money Guarantee D) Golden Year Policy

E) Child Secure F) Super Investment Assurance Plan

12: Reason to purchase to Reliance life insurance Policy.

A) High return B) Brand
C) Better portfolio D) Others

13: How time you have been used RLI Company?

 A) 1times B) 2times

C) 3times D) above 3times

14: What is your next policy in future from which company?

A) Reliance life Insurance Company B) ICICI Pru.

C) Birla Life Insurance Company D) Others

15: Are you satisfied with policy of RLI Company?

YES NO

16: If any answer to above question (No-10) is ‘NO’ thus what is the
Reason ?

A) Not information B) Not believe in company

C) No money D) Others