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A Comparative Study of Ulip Plans Offered by Icici Prudential and Other Life Insurance Companies

presentation on “A COMPARATIVE STUDY OF ULIP PLANS OFFERED BY ICICI PRUDENTIAL AND OTHER LIFE INSURANCE COMPANIES” by dixit mittal lives in ambala

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459 views11 pages

A Comparative Study of Ulip Plans Offered by Icici Prudential and Other Life Insurance Companies

presentation on “A COMPARATIVE STUDY OF ULIP PLANS OFFERED BY ICICI PRUDENTIAL AND OTHER LIFE INSURANCE COMPANIES” by dixit mittal lives in ambala

Uploaded by

dixit mittal
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© Attribution Non-Commercial (BY-NC)
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A PRESENTATION ON

“A COMPARATIVE STUDY OF ULIP PLANS OFFERED BY ICICI


PRUDENTIAL AND OTHER LIFE INSURANCE COMPANIES”

Presented by :

DIXIT KUMAR
Roll No. : 80906317020
M.B.A IIIrd semester
Contact no.-- 09017076571

SWAMI VIVEKNAND INSTITUTE OF ENGINEERING AND


TECHNOLOGY
PUNJAB TECHNICAL UNIVERSITY,
JALANDHAR
INTRODUCTION TO INSURANCE
Risks and uncertainties are part of life's
great adventure -- accident, illness, theft,
natural disaster - they're all built into the
workings of the Universe, waiting to
happen. Insurance is a contract between
two parties - the insurer (the insurance
company) and the insured (the person or
entity seeking the cover) - wherein the
insurer agrees to pay the insured for
financial losses arising out of any
unforeseen events in return for a regular
payment of "premium"
OBJECTIVES OF THE
STUDY
Working of Unit linked Insurance Plans
SWOT analysis of the product sold
Comparative study with the competitor.
Study tax planning solutions available in
the market.
Study asset allocation through insurance
plans.
RESEARCH
METHODOLOGY
• MARKET RESEARCH DESIGN : Descriptive type

• DATA SOURCES : Primary source

• RESEARCH APPROACH : Survey method

• RESEARCH INSTRUMENT : Questionnaire

• TYPE OF QUESTIONS : Close-ended

• SAMPLE SIZE : 100 samples


DATA ANALYSIS
1). Are you interested in products offered by the ICICI PRUDENTIAL?

Yes 61%
No 22%
Will think 17%

17%

Yes
No
22% Will think
61%
2). Are you satisfied with your present
insurer?
No 35%

YES 65%

35%

Yes
No

65%

INTERPRETATION
most of the players are very satisfied with their present insurer which makes it
more tough for the private players to attract the corporates.
3).
3). What
What is
is people’s
people’s main
main concern
concern while
while taking
taking aa
insurance
insurance policy
policy (ULIP)?
(ULIP)?
1) Security 40%
2) Return 28%
3) Tax rebate 32%

50%
40%
%AGE

30%
Series1
20%
10%
0%
SECURITY RETURNS TAX
REBATE
FACTOR

INTERPRETATION
People invest in insurance mainly because of security concern.
4). Are you aware of Lifetime Super
introduced by ICICI Prudential limited?
Yes 58%
No 42%

%AGE OF PEOPLE
80%

60%

40% Series1

20%

0%
YES NO
RESPONSE

INTERPRETATION

The awareness level among the corporate about ICICI PRUDENTIAL


offering services is very low and the company needs to work on it.
CONCLUSION
• LIC enjoys credibility over other private players
in the industry People look for security over
returns in market linked plans .Lifetime is the
most popular product among the people who are
aware about ICICI Prudential’s products. People
are now showing more interest in ULIP as
compared to some of the traditional plans.
• ICICI PRUDENTIAL has to counter the
distribution network of LIC .The product profile
of ICICI PRUDENTIAL is not very comprehensive
RECOMMENDATIONS
 More emphasis should be on promotional activities.
 Plenty of advertisement should be done through T.V,
Newspaper and Radio as these media’s are having
maximum recall value.
 Total financial planning and advice should be given to
every customer.
 More business opportunity seminars should be
conducted to make people aware of the offer given.
 The company should quite frequently send their agent
to the customer so that they should be aware of the
latest offer.
 The company should attempt to open more and more
of its branches in the country so as to promote their
product publicity.
THANK YOU

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