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COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
COMPARITIVE STUDY OF UNIT LINKED POLICIES
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COMPARITIVE STUDY OF UNIT LINKED POLICIES

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COMPARITIVE STUDY OF UNIT LINKED POLICIES

COMPARITIVE STUDY OF UNIT LINKED POLICIES

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  • 1. SAAB MARFIN MBA A REPORT ONCOMPARITIVE STUDY OF UNIT LINKED POLICIES AND ITS MARKET RESEARCH
  • 2. SAAB MARFIN MBAEXECUTIVE SUMMARY After privatization and liberalization in 1991,private sector isgrowing very fast across wide spectrum of Indian economy. A major partof such liberalization process is finance sector. That is also applicable to Insurance Industry. Large number ofmultinational companies in collaboration with the Indian companies iscompeting with the strong LIC. At the same time bank rates are going down. So investors are goingfor alternatives. They are investing in market for good returns. This report titled Comparison study of unit linked policies and itsmarket research contains detail study of unit-linked policies andcomparison unit linked schemes of different companies and also theirmarket potential in Bangalore city. The main object behind taking this project is to find outstandingterms and conditions of different companies who issue unit linkedpolicies and market potential for unit linked policies. At the same time we are interested to know 1. Whether people are aware about unit linked policies or not? 2. What factor they are consider while purchasing unit linked policy? 3. What is their expectation from unit linked policy? 4. How much they want to invest in Life Insurance? 5. In which type of fund they prefer to invest.?
  • 3. SAAB MARFIN MBA Based on this an appropriate questionnaire was prepared. Data wascollected through market survey . The data is analyzed using code sheet,percentages, averages, sums and weightages .Findings 1. 96% of the people know about life insurance and 18% know about unit linked policy 2. Responded people ranked LIC as first, ICICI as second and Allianz Bajaj as third 3. Most people want to invest in Life insurance in the range of Rs 300000 to Rs 500000 4. The Responded people mostly want to invest in balanced fund.
  • 4. SAAB MARFIN MBA Above study shows that awareness of Allianz Bajaj isvery low. But there is a potential market for unit-linked policies. So ALBJshould come up with some salient features to tap the market. Theyshould come up with some special offers like giving bonus or fixing someminimum guarantee amount.
  • 5. SAAB MARFIN MBABACKGROUND AN INTRODUCTION: The insurance industry in India is evolving andassuming different proportions since it was privatized. There was a timewhen only traditional insurance products used to dominate the arena, but
  • 6. SAAB MARFIN MBAwith innovation coming into play, unit-linked/market-linked productshave also found a place. It is worth mentioning here that world over unit-linkedproducts constitute quite a substantial chunk of the total portfolio ofinsurance companies. The emergence of unit-linked insurance policiescombines the characteristics of both endowment insurance policies andmutual funds. With falling interest rates questioning the economics oftraditional products, most insurers are launching unit-linked policies. In the developed market, products more incommon with mutual funds have overtaken traditional life insuranceproducts. Customers too are looking for products that give stability ofreturns in the long run and total protection. In India, Birla Sun Life, ICICI Prudential, AllianzBajaj, LIC are the some life insurance companies dealing in unit-linkedinsurance products.HOW THE UNIT LINKED PLAN WORKS?
  • 7. SAAB MARFIN MBA Unit linked plans combines the protection of lifeinsurance and benefits of mutual fund .The main reason for increasinginterest towards unit linked plans is that they allow you to earn morereturn on your investment in this declining interest scenario, and at thesame time offer financial protection to your family in unfortunate event ofyour death. They also allow you the flexibility of withdrawing orsurrendering your unit wholly or partially to meet any contingency likeyour children’s education marriage, etc. Unit linked plans come in the form of units where thepremium paid by you is used to buy units and an investment fund isallotted to you. Most of the companies offer two or more options to youwith regard to the fund. The choice of the fund allows you to determineas to how much premium paid by you should be invested and in whichfinancial instrument. The performance of the fund depends upon thecurrent value of units in the market. For e.g. if current value of unit is Rs 10/- and youpay annual premium of Rs 10000/-, than the number of units you buywith this premium is 1000 units. If the market is bullish and the value ofa unit become Rs 13 /- then you can surrender the units for a profit.
  • 8. SAAB MARFIN MBA According to the IRDA, a company offering unit linkedplans must give the investor an option to choose among debt, balancedand equity funds. If you opt for a unit-linked endowment policy, you canchoose to invest your premiums in debt, balanced or equity funds. If youchoose a debt fund, the majority of your premiums will get invested indebt securities like gilts and bonds. If you choose equity, then a major portion of yourpremiums will be invested in the equity market. The type of fund youchoose would depend on your risk profile and your investment need. In case of death during the premium paying term orthe term of the policy, the sum assured, or value of policy fund,whichever is higher, is paid to the beneficiaries. In case of survival up to maturity, the value of the fundis paid out. Therefore, the risk here is transferred to the policyholder andnothing is guaranteed. So, if the fund value falls below the amountinvested, the policyholder will receive a lower amount. Taking a closer look at charges and feesone comes toknows that, there is an initial administrative charge deducted everymonth from units. This could be very high, around 15% per annum in thefirst year, around 7% p a in the second and around 2-3% p a thereafter. Suppose you buy a policy wherein the annual premiumworks out to Rs 10,000, in the first year, Rs 1,500 would be deductedtowards administrative charges, Rs 700 in the second year and around Rs300 from the third year. These rates vary from company to company butare more or less in this range.
  • 9. SAAB MARFIN MBA There is an investment management charge too, whichwould vary according to the fund selected; for instance, an equity fundwould attract a higher investment management fee of around 1% p acompared with a debt fund that might attract a fee of 0.25%. So continuing with the same example, a sum of Rs 100would be deducted from the annual premium if an equity fund is optedfor. Next, companies charge an annual administration charge. In case ofsome companies this charge is a flat rate, say, Rs 20 per month. In thecase of others, this charge is again a percentage of net assets for eachfund. Finally, there is a deduction for risk cover. This goestowards contribution to the sum assured or the life insurance cover. It isbased on mortality rates as calculated by actuaries. For comprehensivelysummarising our example, we will assume the age of the malepolicyholder to be 30 years and sum assured Rs 1,00,000. Of a total premium of Rs 10,000 paid in the first year,Rs 1,500 is deducted towards initial administration fees, Rs 100 towardsinvestment management fees (assuming the fund opted for is equity) andRs 240 towards annual administration fees. That leaves a balance of Rs 8,160 in the first year. Outof this, Rs 169 would be deducted towards risk cover. Hence, finally Rs7,991 would be invested in the fund. In the second year, the figure wouldstand at Rs 8,791 and third year onwards, around Rs 9,191 for the termof the policy. So, every time you make your premium payment, only a partof it is actually invested in the fund of your choice.
  • 10. SAAB MARFIN MBACombination of mutual fund and insurance cover: Unit-linked plans are a combination of an investmentfund and an insurance policy. A major part of the premium amountreceived on such policies is invested in the stock market by the insurer inselect funds depending on the risk level chosen by the customer. Mindyou, this is after deducting administration charges and managementexpenses that may vary from one fund to the other.Choice of Funds:The customer has the option of choosing from debt, balance and equityfunds. If the individual chooses a debt fund, a major part of his premia isinvested in debt securities like gilts and bonds. But if it is equity, a majorportion goes towards investments in the stock market. So depending onthe risk profile the individual may choose his investment option.Survival Benefits:As regards survival benefits the fund value as on that date is paid to theindividual.Death Benefits:
  • 11. SAAB MARFIN MBAIn case of death the individual is paid higher of the sum assured or thefund value standing to his account.Fund Value:The fund value is the value of your investment as on a given date. This isinfluenced by the ups and downs in the sensex.So Fund Value = Unit Price x Number of UnitsSwitching between Funds:The advantage one gets in case of a unit linked fund is that the workingis similar to a mutual fund. One can ship out of a fund if he feels itsperformance is not up to the mark. Companies allow certain number offree switches in a year. For any more switches one may have to pay.Risk Element: On the face of it investment in unit-linked plans are notentirely safe. An element of risk is definitely in the hands of the individual.An individual choosing to park his funds in equities stands to gain or losedepending on the bull run in the stock market. When the market isbuoyant he stands to gain handsomely but on the other hand he may loseheavily when it tanks out. Unit-linked insurance plans are all of a sudden much talkedabout, publicized and sold. While these are not a recent phenomenon,since a number of insurance companies already had these products as apart of their portfolio, of late these plans have seen sudden frenzy.
  • 12. SAAB MARFIN MBA It is perhaps the bull phase or the lure of market-linkedreturns that insurance companies have been shouting hoarse about thatis responsible for these products outselling others. While this is not to dissuade from purchasing unit linkedcovers it would be once own interest to take a peek at the ‘market linkedreturns’ you can expect. And if you think that the entire premium you payis invested in avenues chosen by you to maximize returns you could bewrong.Expenses during the first year: The insurance company towards various charges reducingthe investable amount considerably deducts a substantial amount fromyour premium income. In the first year Allianz Bajaj through its Unit GainSP Plus claims to allocate 100 percent of the single premium you investbut cancels units on a monthly basis towards various charges from yourfund. Accordingly Kotak Safe Investment Plan allocates 86 percentand LifeTime of ICICI Pru Life allocates 80 percent for amounts less thanRs 50,000 and 82 percent for those above Rs 50,000 towardsinvestments.Administration expenses: The fund expense is the highest in the first year. ICICI PruLife charges administration expenses of 20 percent of the premium foramounts below Rs 50,000 and 18 percent for amounts over Rs 50,000 inthe first year while it is 7 percent for amounts upto Rs 20,000 in case of
  • 13. SAAB MARFIN MBAKotak Safe Investment plan. Again there are annual administrative charges that are ashigh as 1.25 percent per annum of net assets on Life Link of ICICI Pru Lifeand on Unit Gain SP Plus of Allianz Bajaj Life Insurance.Mortality charges:While the annual administrative charges stand at 1.25 percent of netassets for ICICI Pru Life and Allianz Bajaj Life Insurance the differences inmortality charges is quite a bit. ICICI Pru Life charges 1.48 per thousandof sum assured at age 30 while Allianz Bajaj charges 1.29 at age 31.Switching: Now what if you plan to switch from one fund to the other.ICICI Pru Life offers only one free switch every year and charges aswitching fee of 1 percent for extra switches. In contrast Allianz Bajajoffers three switches free with subsequent switches charged at the rate of1% of switch amount or Rs 100 which ever is higher while with OM Kotak’s Safe Investment plan you can switch any number of times at no extracost. Besides there are fund management charges that variesdepending on the type of fund you choose to park your funds. OM Kotakcharges 0.6 percent if you choose to invest in money market funds, ongilt funds it is 1 percent, on balanced funds it is 1.3 percent and ongrowth funds it is 1.5 percent.Transaction costs:
  • 14. SAAB MARFIN MBA Also Allianz Bajaj charges transaction costs at 0.5 percentbut not exceeding 0.7 percent of the equity investment while it is 0.1percent not exceeding 0.2 percent of the debt investments. Moreover,there exist underwriting charges on the basis of the age of the individual. Know that when you buy unit-linked insurance products, amajor part of the risk is transferred to you from the insurance company.Unit linked risk products may not be a good investment option whentaken into account the high costs and the risk associated with volatilemarkets. These products will entail regular monitoring since they aremarket linked and may perhaps be a good bet when the market is at apeak but if the market bottoms out you may lose heavily. So know thatyou are playing with your risk cover.Unit-linked vs. traditional insurance products. While in a unit-linked insurance product part ofthe premium paid by the policyholder goes towards administrative andmortality charges (that provides life cover) and the balance into aninvestment account, in a traditional policy (with or without profit policy),the premiums are put in a common fund, part of which is invested andpart goes into paying for the risk cover.
  • 15. SAAB MARFIN MBA However, the entire profit from investment is notdeclared as bonus in a traditional policy. Some is held back by theinsurance company to build reserves to pay end bonus and other returns. Also, there is a chance of using the money tocross-subsidise other products i.e. paying more returns towards singlepremium products. The performance of the investible portion of premiumin a unit-linked scheme is monitored in the form of mutual fund units. Unit-linked insurance products allowpolicyholders to define their underlying investment with choices varyingfrom a conservative to an aggressive option. In effect, a customer can create his/her ownpersonal investment plan backed by an insurance policy with at least aminimum guaranteed return, in some cases. On the contrary, a traditionalpolicyholder has to rely on the investment manager. Besides, unit-linked products offer benefits liketransparency, liquidity and flexibility. The insured has the flexibility ofchanging the investment option after completing one policy year takingadvantage of market movements to plan investments and earn returns,giving him complete control of his funds. Thus, in a scenario when the equity market is notperforming well, a policyholder with high exposure to equities can switchto the option, which has a high proportion of fixed income instruments.
  • 16. SAAB MARFIN MBA Above all, as in the case of other insurance products,the premiums are taxing deductible and the benefits i.e. the maturitybenefit, withdrawal, surrender and death benefits are all tax-free.Mode of premium payment: Paying single premium or regular premium in the formof yearly /half yearly, quarterly and monthly installment and premiumpaid by you is used to buy units. Hence unit linked policies multiply your profits andbrings you the return and liquidity of the stock market and the safety ofthe insurance at the same time.Allianz Bajaj Life Insurance Company Limited Allianz Bajaj Life Insurance Co. Ltd. is a jointventure between two leading conglomerates- Allianz AG, one of the
  • 17. SAAB MARFIN MBAworlds largest insurance companies, and Bajaj Auto, one of the biggest 2and 3 wheeler manufacturers in the world. Allianz AG with over 110 years of experience in over70 countries and Bajaj Auto, trusted for over 55 years in the Indianmarket, together are committed to offering you financial solutions thatprovide all the security needed for once family and oneself Allianz Bajaj Life Insurance Is the fastest growing private life Insurance company in India Currently has over Rs 3,00,000 p.a. satisfied customers Is backed by a network of 68 Customer Care Centers spanning 55 locations across the country One of Indias leading private life insurance companiesCOMPANY PROFILEAllianz Group
  • 18. SAAB MARFIN MBAAllianz Group is one of the worlds leading insurers and financial services providers.Founded in 1890 in Berlin, Allianz is now present in over 70 countrieswith almost 174,000 employees. At the top of the international group isthe holding company, Allianz AG, with its head office in Munich.Allianz Group provides its more than 60 million customers worldwidewith a comprehensive range of services in the areas of Property and Casualty Insurance, Life and Health Insurance, Asset Management and Banking.ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE Worldwide 2nd by Gross Written Premiums - Rs.4, 46,654 cr. 3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. - AUM of Rs.51, 96,959 cr. 12th largest corporation in the world 49.8 % of global business from Life Insurance Established in 1890, 110 yrs of Insurance expertise 70 countries, 173,750 employees worldwideBajaj Group
  • 19. SAAB MARFIN MBA Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj groupis the largest manufacturer of two-wheelers and three-wheelers in India and one ofthe largest in the world. A household name in India, Bajaj Auto has a strong brandimage & brand loyalty synonymous with quality & customer focus.A STRONG INDIAN BRAND- HAMARA BAJAJ One of the largest 2 & 3 wheeler manufacturer in the world 21 million+ vehicles on the roads across the globe Managing funds of over Rs 4000 cr. Bajaj Auto finance one of the largest auto finance cos. in India Rs. 4,744 Cr. Turnover & Profits of 538 Cr. in 2002-03 It has joined hands with Allianz to provide the Indian consumers with a distinct. Option in terms of life insurance products As a promoter of Allianz Bajaj Life Insurance Co. Ltd., Bajaj Auto has the following to offer - Financial strength and stability to support the Insurance Business A strong brand-equity. A good market reputation as a world-class organization. An extensive distribution network. Adequate experience of running a large organization.Shared Vision
  • 20. SAAB MARFIN MBAA household name in India teams up with a global conglomerate... Bajaj Auto Ltd, the flagship company of the Rs. 8000crore Bajaj group is the largest manufacturer of two-wheelersand three-wheelers in India and one of the largest in the world. A household name in India, Bajaj Auto has a strongbrand image & brand loyalty synonymous with quality & customer focus.With over 15,000 employees, the company is a Rs. 4000 crore auto giant,is the largest 2/3-wheeler manufacturer in India and the 4th largest inthe world. AAA rated by Crisil, Bajaj Auto has been in operation for over55 years. It has joined hands with Allianz to provide the Indianconsumers with a distinct option in terms of life insurance products. As a promoter of Allianz Bajaj Life Insurance Co. Ltd.,Bajaj Auto has the following to offer Financial strength and stability to support the Insurance Business. A strong brand-equity. A good market reputation as a world class organization. An extensive distribution network. Adequate experience of running a large organization. A 10 million strong base of retail customers using Bajaj products. Advanced Information Technology in extensive use. Experience in the financial services industry through Bajaj Auto Finance Ltd
  • 21. SAAB MARFIN MBABOARD OF DIRECTORS OF ALLIANZ BAJAJ ARE 1. Rahul Bajaj 2. Niraj Bajaj 3. Sanjivnayan Bajaj 4. Ranjit Gupta 5. Govind Prasad Laddha 6. J.Shridhar 7. Bajaj Auto Limited 8. Dr Wemer Zedelius 9. Heinz Dollberg 10. Don Nguyen 11. Alan Wilson
  • 22. SAAB MARFIN MBAAllianz Bajaj brings several innovative products, the details of which asfollowes ALLIANZ BAJAJ’S PRODUCTSIndividual Plans UNITGAIN A Unit Linked Plan UNITGAIN SP A Single Premium Unit Linked Plan INVESTGAIN An Endowment Plan CHILDGAIN Childrens Policy CASHGAIN Money Back Plan SWARNA VISHRANTI Retirement Plan RISK CARE Pure Term Plan TERM CARE Term Plan with Return-of-Premium LIFETIME CARE Whole Life Plan SAVE CARE ECONOMY SP Single Premium Endowment Plan LOAN PROTECTOR A Mortgage Reducing Term Insurance Plan KEYMAN INSURANCE A Promising Business Opportunity
  • 23. SAAB MARFIN MBA . Group PlansGROUP CREDIT CARE Available for Employer - Employee Groups and Non Employer-Employee GroupsGROUP TERM LIFE Available for Employer - Employee Groups and Non Employer-Employee GroupsGROUP TERM LIFE SCHEME in lieu of EDLI (Employees Deposit Linked Insurance)
  • 24. COMPARISON STATEMENTParticular Allianz Bajaj Birla sun life ICICI LIC SAAB MARFIN MBAs1) Types a) Unit Gain a) Flexi Save a) Lifetime a) Life Timeof policy b) Unit Gain SP Plus b) Life link b) Life Time SPIssued Endowment Plan b) Flexi cash flow money back Plan c) Flexi Life Line Plan2) From 1year to 60 From 30 days From 0year to From 12 yearsEligibility years to 65 years 60 years to 55 years3)Minimu Rs 10,000 regular 50,000 for 18,000 p.a. 5,000regularm Rs 25,000 single minor or 20,000 singlepremium premium 75,000 for 9,000 for halfamount adults yearly and( in Rs) 1,500 for monthly.4) Term Death or low As per policy At the age of 10 yearsof the balance whichever term 100Plan is first 5,10,15,20,25o r30 or as per maturity age 15,20,25,30or 35years for minor & 60,65,70,80 for adult5) Yearly, Half Yearly, Half Yearly, Half Yearly, HalfPremium yearly, yearly, yearly, and yearly,payment Quarterly and Quarterly and Monthly Quarterly andfrequency Single premium Single Single [Monthly –with premium premium
  • 25. SAAB MARFIN MBA6) Total value of that Total value of Total value of Bid value ofMaturity you hold in fund that you hold that you hold the fund alongbenefit /funds in fund /funds in fund with maturity /funds bonus at 5% of sum assured.7) Death Sum assured Face amount Sum assured -Death in 1stbenefit chosen or value of + chosen or 6months –30% units Policy fund value of units of S.A+fund Whichever is Whichever is value higher higher -Death in 2nd half of 1st year –60% of S.A + fund value -1st year & above S.A + fund Value -On 10th year 5% bonus of SA + bid value of fund```8) Free Three free One free switch One free Twice duringswitches switches every every year. switch every the term of year. year. plan.
  • 26. SAAB MARFIN MBA9)Minimu For Single Premium Amount For Singlem and Min=1.01 time the SP chosen by Premiummaximum Max=Y time the SP the Min =RsSum Where Y as per following customer 20,000Assured table Max =Rs A 0- 31- 36 41 46 10,00,000 g 30 35 -4 -4 -6 e 0 5 0 For Y 45 40 25 15 5 Regular For Regular Premium Premium Min=5 time AP Min =Rs Max=Y time the AP 50,000 Where Y as per following Max =Rs table 10,00,000 A 0 31 36 41- 46 56 g - -3 -4 45 -5 60 e 3 5 0 5 0 Y 1 10 75 55 30 20 2 5 510) Cash You may withdraw money You may You may After ‘3’withdrawa any time after ‘3’ full years withdraw withdraw years thel option money any money any policy time after time after ‘3’ holder ‘4’full years full years can withdraw max of 50%.11)Invest Equity Fund Protecto Maximiser Securement Balanced fund r Protector d fundoption Debt fund Builder Balancer Balanc Cash fund Enhance ed r fund Risk fund
  • 27. SAAB MARFIN MBA The fund value is always depend upon the marketcondition. On the total premium the deductions are Allocation charges Other chargesALLOCATION RATES
  • 28. Allianz Bajaj Birla Sunlife ICICI Om Kotak Yearl Cumula Com Yearl Cum Com Yearl Cum Co Yearl Cumula Commi y tive missi y ulativ missi y ulativ m y tive ssion SAAB MARFIN MBA Alloc Allocati on Alloc e on Alloc e mis Alloc Allocati (%) ation on (%) (%) ation Alloc (%) ation Alloc sio ation on(%) (%) (%) ation (%) ation n (%) (%) (%) (%)Year 1 30 30 40 35 35 35 80 80 8 86 86 10Year 2 98 128 5 96.5 5 92.5 5 86.5 182.5 3.50 127. 172. 5 5Year 3 99 227 5 95 5 96 3 86.5 279 3.50 222. 268. 5 5Year 4 100 327 5 95 5 96 2 86.5 375.5 3.50 317. 364. 5 5Year 5 100 427 5 95 5 96 2 86.5 472 3.50 412. 460. 5 5Year 6 100 527 5 95 5 96 2 86.5 568.5 3.50 507. 556. 5 5Year 7 100 627 5 95 5 96 2 86.5 665 3.50 602. 652. 5 5Year 8 100 727 5 95 5 96 2 86.5 761.5 3.50 697. 748. 5 5Year 9 100 827 5 95 5 96 2 86.5 858 3.50 792. 844. 5 5Year 100 927 5 95 5 96 2 86.5 954.5 3.5010 887. 940. 5 5Year 100 1027 5 95 5 96 1036 2 86.5 1051 3.5011 982. .5 5Year 100 1127 5 95 1077 5 96 1132 2 86.5 1147.5 3.5012 .5 .5Year 100 1227 5 95 1172 5 96 1228 2 86.5 1244 3.5013 .5 .5Year 100 1327 5 95 1267 5 96 1324 2 86.5 1340.5 3.5014 .5 .5Year 100 1427 5 95 1362 5 96 1420 2 86.5 1437 3.5015 .5 .5Year 100 1527 5 95 1457 5 96 1516 2 86.5 1533.5 3.5016 .5 .5Year 100 1627 5 95 1552 5 96 1612 2 86.5 1630 3.5017 .5 .5
  • 29. SAAB MARFIN MBANon al l ocat ed amount Particulars Allanz Birla Sunlife ICICI Om Kotak Bajaj Year 1 70% 65% 20% 16% Year 2 2% 7.5% 7.5% 3.5% Year3 1% 5% 4% 3.5% Year4 5% 4% 3.5% Year5 5% 4% 3.5% Year6 5% 4% 3.5% Year7 5% 4% 3.5% Year8 5% 4% 3.5% Year9 5% 4% 3.5% Year10 5% 4% 3.5% Non allocation charge(cumulat 73% 112.5% 59.5 47.5 ive) In the long run say 20 years, the non allocation will be Particulars Allanz Birla ICICI Om Kotak Bajaj Sunlife Non allocation 73% 162.5% 99.5% 82.5% Charges(cumulat ive) Average non allocation per 3.65% 8.125% 5% 4.125% year will be
  • 30. SAAB MARFIN MBA The main determinant of how policy operates isallocation of fund and growth rate of the company. The growth rates areavailable in the newspaper. However, some insurers do guarantee a part of thereturn. Birla, for instance, guarantees a minimum return of 6% in case ofProtector option, 4.5% in Builder and 3% in Enhancer. Birla, as ofNovember 2003 has declared, since inception, a return of 13.55 % onProtector, 18.23% on Builder and 25.61% on Enhancer.
  • 31. SAAB MARFIN MBA RESEARCHMETHODOLOGY
  • 32. SAAB MARFIN MBA RESEARCH METHODOLOGY PROBLEM DEFINITION ` In the market, bank interest rates are coming downand peoples prefer other investment avenues like mutual funds. The mainfocus of this project is to know about unit-linked policy ( combination ofmutual fund and life coverage), how this plan works in the market andhow people consider its attributes and factors. OBJECTIVE The main objective of the research is to find potentialmarket for the unit linked plans in Bangalore city. SUB OBJECTIVES 1. To know potential market for life insurance. 2. To know awareness of different insurance companies. 3. To know which attributes people consider most important. 4. To know what factor people consider while purchasing unit linked policy. 5. To know the investment criteria 6. To know in which range people want to invest.
  • 33. SAAB MARFIN MBA Keeping above objective in mind a questionnaire wasdesigned and field survey conducted in Bangalore city. SAMPLE PROFILE Businessmen, Employees and other are population forthis project. Efforts were made to get the respondents with income of Rs3,00,000 & more. Sampling units are taken from the Bangalore city. SAMPLE SIZE Sample size was 100 in Bangalore city SAMPLING TECHNIQUE Samples were chosen from different areas of Bangalore i.e.Jayanagar, M G Road, Corporation area, Electronics city and tried tomaintain 1:1:1 ratio of businessman, employees and other among therespondentsDATA COLLECTION PROCEDURE Data collection for unit linked policy Secondary data collected from following source 1. Literature from Allianz Bajaj office
  • 34. SAAB MARFIN MBA 2. Articles from Economictimes 3. Article from Insurance Cover Primary data was collected through field survey by framing the questionnaire DATA ANALYSIS TECHNIQUE The data collected was consolidated, the sum averagewas calculated. Various charts were prepared which helped to analyze thedata better .Data analysis involved converting of recorded observation into descriptive statement. LIMITATION OF THE STUDY 1. The findings are relevant only to Bangalore city , however a generalized view can be applicable to cities with similar characteristics. 2. Since the sampling technique was random, the finding might not give an accurate picture. 3. Since the time and cost were the a constraints, result may not be accurate, as surveyor could not survey the entire customer and potential investors. 4. Some of the customers could not give an accurate response to some of the questions
  • 35. SAAB MARFIN MBASCOPE OF THE STUDYThe project includes 1. Study of unit linked policy. 2. The eligibility criteria of the applicant 3. Brief idea about the company called Allianz Bajaj life insurance company limited. 4. Comparison study of different unit inked policies of different companies 5. Terms and conditions of different companies unit linked policies 6. Different types of policies issued by Allianz Bajaj
  • 36. SAAB MARFIN MBAFINDINGS
  • 37. SAAB MARFIN MBA Findings:1) Have you bought any Insurance policy/ know about unit linked policy?
  • 38. SAAB MARFIN MBA2) Rank the Insurance companies you are aware of?Respondents ranked life insurance companies as below
  • 39. SAAB MARFIN MBAThe ranking is 1. Life Insurance Corporation 2. ICICI 3. Allianz Bajaj Life Insurance Company Limited 4. Tata AIG Life Insurance Company Limited 5. Aviva Life Insurance Company Limited3) Have you bought any unit linked policy?Out of 100 samples only 2 people bought unit linked policy.
  • 40. SAAB MARFIN MBA4) Are you interested in buying unit linked policy?
  • 41. SAAB MARFIN MBA5)Rank the below attributes do you consider while purchasing?
  • 42. SAAB MARFIN MBA6) Rank the factors do you consider while purchasing Life Insurance/Unit Linked policy?
  • 43. SAAB MARFIN MBA7) How much do you want to invest?
  • 44. SAAB MARFIN MBA8) In which fund do you prefer to invest(rank them accordingly)
  • 45. SAAB MARFIN MBA
  • 46. SAAB MARFIN MBAANALYSISANALYSIS HAS BEEN MADE IN THREE PARTS Respondents in general Respondents whose income is more than Rs Rs 3,00,000 p.a. Respondents who knows about Unit Linked Policy
  • 47. SAAB MARFIN MBARESPONDENTS IN GENERALINCOME OF THE RESPONDENTS In RsFour types of income group has been responded, accordingly respectivepercentage has been given. 1. Below Rs 1,50,000 28% 2. Rs 1,50,000-Rs 3,00,000 p.a. 20% 3. Rs Rs 3,00,000 p.a.-5,00,000 30% 4. Above Rs 5,00,000 22%
  • 48. SAAB MARFIN MBA AWARENESS OF LIFE INSURANCE Awareness of the life insurance is out of the 100samples 2 peoples don’t know about the life insurance.
  • 49. SAAB MARFIN MBAAWARENESS OF UNITLINKED POLICYOut of 98 people 22% know about the unit linked policy.RANKING OF LIFE INSURANCE COMPANIES
  • 50. SAAB MARFIN MBA Respondents ranked life insurance companies as below The ranking is 1. Life Insurance Corporation 2. ICICI 3. Allianz Bajaj Life Insurance Company Limited 4. Tata AIG Life Insurance Company Limited 5. Aviva Life Insurance Company LimitedRespondents ranked Allianz Bajaj as 3rd among 6 life insurancecompanies.That means awareness is less about the company. Thereforecompany should take some measure to create awareness.
  • 51. SAAB MARFIN MBA While purchasing unit linked policy, people considerthe attributes like Creation of estate, Life coverage, Mode of paying premium,Withdrawal benefits, Saving component echo much importance they give to eachattribute is given below While purchasing life insurance peopleconsidered most important is life coverage than Creation of estate thansaving component than other attributes like maturity benefits,withdrawal benefits and mode of paying premium .the least importantattribute is charges levied. As people consider most important as lifecoverage, in the policy of Unit gain they should concentrate on Deathbenefits and life coverage period.
  • 52. SAAB MARFIN MBA After consideration of attributes the next step towards thepurchase of life insurance by the prospective buyer are following factors 1. Brand Image 2. Risk Factor 3. Income 4. Age factor 5. Influence of relatives and friends 6. Market condition Respondents considered very important as Risk factorthan the factors like Income, Age, and Market conditions. Brand image
  • 53. SAAB MARFIN MBAas less important and Influence of relatives and friends as very leastimportant. As people are tend to avoid risk and give moreimportance to risk factor it shows that people are willing to take risk.PEOPLE’S INTEREST OF INVESTING IN LIFE INSURANCERespondents got a option of five categories as shown above. Theresponse was Below Rs 1,00,000 13% Rs 1,00,000 –2,00,000 18% Rs 2,00,000 – Rs 3,00,000 p.a. 27% Rs Rs 3,00,000 p.a.- 5,00,000 29% Above Rs 5,00,000 13%
  • 54. SAAB MARFIN MBA Most peoples are interested in taking the policy of Rs3,00,000 p.a. to 5,00,000.Next to it is the policy of Rs2,00,000 to Rs3,00,000 p.a..PEOPLE ‘S PREFERENCE OF INVESTING PREMIUM AMOUNTCustomer got several option to invest their premium .The preferenceaccording to respondents are given belowRankings are given below 1. Balanced fund 28% 2. Equity fund 25% 3. Cash fund 24% 4. Debt fund 23%
  • 55. SAAB MARFIN MBARESPONDENTS WHOSE INCOME IS MORE THANRS Rs 3,00,000 p.a.Ranking according to respondents whose income is more than Rs3,00,000 p.a. 1. LIC 2. ICICI 3. Birla Sunlife
  • 56. SAAB MARFIN MBA 4. Allianz Bajaj 5. Tata AIG 6. Aviva Respondents whose income is more than Rs 3,00,000 p.a. considered attributes as below Respondents considered very important attribute as Creationof estate, Saving components and life coverage. Next important asMode of paying premium and next is Withdrawal benefits next isMaturity benefits and the least important is Charges levied. Respondents even consider Saving component and creationof estate as very important.
  • 57. SAAB MARFIN MBARespondents whose income is more than Rs 3,00,000 p.a.considered factors affecting to buy life insurance as below Respondent considered all the above-mentionedattributes as most important In percentage most important is Age,Income, Market conditions, Risk Factor and least important is Brandimage and influence of relatives and friends.
  • 58. SAAB MARFIN MBARespondents whose income is more than Rs 3,00,000 p.a.considered the investment criteria as follows Respondent interested to invest money more betweenRs3,50,000-5,00,000 p.a.Next is Rs2,00,000-3,50,000 p.a. and same percentage of people wantsto invest inRs1,00,000-2,00,000 p.a. and 19% want to invest in above Rs5,00,000 p.a. and least people want to invest in below Rs 1,00,000 p.a.
  • 59. SAAB MARFIN MBARespondents whose income is more than Rs 3,00,000 p.a.considered investing their money in following fundsRankings are given below 1. Balanced fund 31% 2. Cash fund 25% 3. Equity fund 22% 4. Debt fund 22%
  • 60. SAAB MARFIN MBAOPINION OF THE RESPONDENTSWHO KNOW ABOUT THEUNITLINKED POLICY. Respondents considered very important attribute as Lifecoverage next important as Withdrawal benefits next is Savingcomponents and Creation of estate next important as Maturity benefitsnext important attribute is Mode of paying premium and the leastimportant is Charges levied. Here most important to note is every attribute isconsidered important because all the percentage is more than 10%.
  • 61. SAAB MARFIN MBAVery important Risk factorLess important Income, ageImportant Market conditionsNot important Brand imageLeast important Influence of relatives &friends
  • 62. SAAB MARFIN MBARespondents got an option of five categories as shown above. Theresponse was Below Rs 1,00,000 09% Rs 1,00,000 –2,00,000 00% Rs 2,00,000 – Rs 3,00,000 p.a. 09% Rs Rs 3,00,000 p.a.- 5,00,000 55% Above Rs 5,00,000 27%
  • 63. SAAB MARFIN MBARankings are given below 1. Balanced fund 32% 2. Equity fund 25% 3. Cash fund 23% 4. Debt fund 20%
  • 64. SAAB MARFIN MBASUGGESTIONS: 1. The above study showed that the awareness about Allianz Bajaj is less . People ranked it 3rd in the life insurance companies .So companies should take some measure to create awareness in the minds of customer .For that it may go for aggressive advertising campaign or sponsor for some events, go for banners or hoardings 2. The competitor companies of ALBJ is very strong in unit linked policies Birla Sunlife and LIC are going extremely well in the market.their growth rates are very high .So ALBJ should highlight their strong points like Choosing the sum assured Low allocation charges in the long run Good service Low switching charges Term of policy is unlimited Salary deduction schemes 3. The unit-linked policies are suitable to those who are active investors and at the same time they want to cover their life.
  • 65. SAAB MARFIN MBA4. There are various categories of people who can be differentiated like Men and Women Men usually take the risk, where as women hesitate to take risk. So this policy is more suitable to men Age factor Young people are more willing to take the risk, where old people are not. So it is suitable to young income people Income group If income of the person is high than he can take risk but low-income group cant take the risk. So this policy is suitable to high-income group people.5. Life insurance is the classical example of unsought goods. The nature of that is the consumer does know about or does not normally think of buying. It requires personal selling support. So agents should be fully informative and they should be able to tell the entire information customer needed.6. As awareness is less , Allianz Bajaj should open some more branches so that acccess becomes easy. So that people can approach the company and take service.
  • 66. SAAB MARFIN MBA 7. As people consider risk factor as very important company should give minimum guarantee of money so that people may consider this policy as most secured and also giving good profit. 8. Company should come up with group unit linked plans so that people may have option to go for unit-linked policy.CONCLUSION In new economy things are moving at a nanosecond pace; that ourmarkets are characterised by hyper competition; that disruptivetechnologies are changing every business and every business must adaptto the empowered consumer. In such an environment ALBJ is performingon a consistence basis. It is not a result of luck, trick plays or misfortuneof the competitors, but service and attractive schemes of ALBJ. AllianzBajaj sustained efforts are yielding superior long-term result. The above study showed that unit linked policy has attractivemarket. But main problem is awareness. So Allianz Bajaj should createawareness among the people. They should explain the advantages they
  • 67. SAAB MARFIN MBAare getting out of unit-linked policy. They should come up with somesalient features like different investment criteria, group investment plansetc.In India people are not willing to invest their money in market butthey make idle investment. So it is the work of middlemen win thewillingness of people to invest in market. Also company shouldconcentrate on death benefit and term of policy.BIBLIOGRAPHY 1. Donald .S.Tull & Hawkins – Marketing research measurement and method, Prentice Hall of India Private Limited,New Delhi-2001 2. Literature available at Allianz Bajaj Branch office, Bangalore. 3. www.AllianzBajaj.com
  • 68. SAAB MARFIN MBA4. www.economictimes.com
  • 69. SAAB MARFIN MBAAPPENDIX MARKET SURVEY ON UNIT LINKED POLICIESSir/Madam,
  • 70. SAAB MARFIN MBA I am MBA student studying in KLS’s IMER ,Belgaum. I am doingsurvey on unit linked plans. Please co-operate and spare a few minutes of yourtime to fill up the following questionnaire. The information provided by you willbe kept confidential since this project is for academic purpose.Name :Address :Ph .No :Gender : Age :Profession/Occupation:Annual income: a) below 150000 b)150000-300000 c) 300000-500000 d) above 5000001. Have you bought any Insurance policy / know about unit linked policy? Yes No2. Rank the insurance companies you are aware off LIC Allianz Bajaj Birla Sunlife Aviva I CI C I Tata AIG3. Have you bought any unit linked policy? Yes No If Yes Company name : If No4. Are you interested in buying unit linked policies Yes No If yes From which company And why
  • 71. SAAB MARFIN MBA5 . Rank the below attributes do you consider while purchasing Life Insurance/ Unit Linked policies (For very important 5 to least important 1) Attributes 5 4 3 2 1 Creation of estate Life coverage Mode of paying premium Withdrawal benefits Maturity benefits Saving component Charges levied 6. Rank the below factors are you consider while purchasing Life Insurance/ Unit Linked policies (For very important 5 to least important 1) Factors 5 4 3 2 1 Brand image Risk factor Income Age Relatives and friends Market conditions7. How much do you want to invest? Below -10000 100000-200000 10000-50000 Above 200000 50000-1000008. In which fund do you prefer to invest (rank them accordingly) Equity fund Cash fund Debt fund Balance fund Thank you
  • 72. SAAB MARFIN MBA1 12 13 14 15 16 17 18 19 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 1
  • 73. SAAB MARFIN MBA36 137 1 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 1
  • 74. SAAB MARFIN MBA86 1 187 188 189 190 191 192 193 194 195 196 197 198 199100 28 20 30 22 100 don’tKnow know unitinsurance Don’t know insurance know unit linkedlinkedpolicy policy policy policy11 1 111 11 1 1111111 0 111 1111 1
  • 75. SAAB MARFIN MBA1 011111111111111111 1 1111 1 111 11 1 1111111 0 111 1111 11
  • 76. SAAB MARFIN MBA 011111111111111111 1 1196 4 18 0
  • 77. SAAB MARFIN MBALIC Birla Sunlife ICICI Allianz Bajaj Aviva Tata AIG1 2 31 3 4 21 4 2 5 6 31 2 312 4 3 11 2 4 3 6 51 2 34 1 3 2 5 64 3 5 1 6 21 3 21 4 2 5 6 31 2 31 4 2 3 6 51 5 2 4 6 31 5 2 4 6 31 4 2 3 6 51 4 2 3 6 51 5 2 3 6 41 3 2 4 6 31 6 2 4 5 31 6 2 4 3 51 21 4 2 31 4 2 5 6 31 3 21 5 2 4 6 31 2 4 31 2 3 4 5 61 4 2 3 6 51 3 2 4 6 51 3 5 2 6 41 5 2 6 4 32 3 1 4 6 5
  • 78. SAAB MARFIN MBA1 4 2 3 6 51 21 4 2 31 4 3 6 5 2111 3 25 3 2 4 6 11 5 2 4 6 31 21 3 4 2 6 51 2 3 5 6 41 5 4 2 6 34 1 5 2 6 21 21 2 31 3 4 21 4 2 5 6 31 2 312 4 3 11 2 4 3 6 51 2 34 1 3 2 5 64 3 5 1 6 21 3 21 4 2 5 6 31 2 31 4 2 3 6 51 5 2 4 6 31 5 2 4 6 31 4 2 3 6 51 4 2 3 6 51 5 2 3 6 41 3 2 4 6 31 6 2 4 5 31 6 2 4 3 51 21 4 2 31 4 2 5 6 31 3 21 5 2 4 6 31 2 4 31 2 3 4 5 61 4 2 3 6 51 3 2 4 6 51 3 5 2 6 41 5 2 6 4 32 3 1 4 6 51 4 2 3 6 5
  • 79. SAAB MARFIN MBA1 21 4 2 31 4 3 6 5 2111 3 25 3 2 4 6 11 5 2 4 6 31 21 3 4 2 6 51 2 3 5 6 41 5 4 2 6 34 1 5 2 6 21 2LIC552 222 366 286 94 2281 85 6 5102 4 5 203 0 4 04 6 3 185 2 2 4 Bought unit linked policy6 0 1 0 2 Interested to buy unit li 552 policy 91 4 6 242 6 5 303 16 4 644 24 3 725 14 2 286 4 1 4 2221 2 6 122 52 5 2603 16 4 644 6 3 185 6 2 126 0 1 0 366
  • 80. SAAB MARFIN MBA1 4 6 242 20 5 1003 16 4 644 26 3 785 8 2 166 4 1 4 2861 0 6 02 0 5 03 6 4 244 2 3 65 8 2 166 48 1 48 941 2 6 122 12 5 603 30 4 1204 6 3 185 7 2 146 4 1 4 228LIC ICICI Allianz Bajaj Tata AIG Birla Sunlife Aviva552 366 286 228 222 9431.57895 20.93822 16.36156 13.04348 12.70023 5.377574 1748
  • 81. SAAB MARFIN MBA attributes Creation ofLife Mode of paying Withdrawal Maturity Saving estate coverage premium benefits benefits component Charges levied1 1 1 5 5 3 2 42 5 1 5 5 5 5 53 1 1 4 1 1 1 14 2 1 4 1 1 1 35 3 1 1 3 2 1 46 2 5 3 5 5 4 57 3 2 3 1 3 2 58 2 1 2 3 1 3 49 1 3 1 2 3 2 310 1 1 1 1 1 1 211 3 5 3 1 3 3 412 3 2 3 4 4 2 513 1 5 1 5 1 1 514 1 2 2 4 3 4 415 2 5 5 3 4 3 516 2 2 3 2 2 1 317 3 4 4 5 3 4 418 4 2 2 1 3 2 319 1 2 1 3 1 1 520 5 2 3 4 1 2 321 2 1 3 1 1 1 122 2 1 3 2 4 3 123 1 1 2 1 3 1 424 1 2 1 3 4 2 525 1 2 1 3 1 3 226 1 1 1 3 2 2 427 1 2 1 2 3 2 228 1 2 1 2 1 3 429 2 1 2 1 3 4 530 2 1 3 2 4 1 531 3 1 3 2 2 1 432 1 1 2 2 2 1 4
  • 82. SAAB MARFIN MBA33 2 1 3 1 1 1 234 1 2 1 3 1 3 435 1 2 2 1 1 1 436 1 1 2 1 3 1 437 1 2 1 3 4 2 538 1 1 5 2 3 4 239 3 1 1 4 3 1 540 2 1 3 2 1 1 341 3 1 1 1 1 1 142 7 1 3 2 2 3 443 4 1 4 1 1 1 444 1 1 3 3 2 4 545 2 1 3 1 3 2 546 2 1 3 2 3 2 547 2 1 3 2 4 3 548 1 2 1 2 3 2 549 1 1 5 2 3 4 550 1 1 5 5 3 2 451 5 1 5 5 5 5 552 1 1 4 1 1 1 153 2 1 4 1 1 1 354 3 1 1 3 2 1 455 2 5 3 5 5 4 556 3 2 3 1 3 2 557 2 1 2 3 1 3 458 1 3 1 2 3 2 359 1 1 1 1 1 1 260 3 5 3 1 3 3 461 3 2 3 4 4 2 562 1 5 1 5 1 1 563 1 2 2 4 3 4 464 2 5 5 3 4 3 565 2 2 3 2 2 1 366 3 4 4 5 3 4 467 4 2 2 1 3 2 368 1 2 1 3 1 1 569 5 2 3 4 1 2 370 2 1 3 1 1 1 171 2 1 3 2 4 3 172 1 1 2 1 3 1 473 1 2 1 3 4 2 574 1 2 1 3 1 3 275 1 1 1 3 2 2 476 1 2 1 2 3 2 277 1 2 1 2 1 3 478 2 1 2 1 3 4 579 2 1 3 2 4 1 580 3 1 3 2 2 1 481 1 1 2 2 2 1 482 2 1 3 1 1 1 2
  • 83. SAAB MARFIN MBA83 1 2 1 3 1 3 484 1 2 2 1 1 1 485 1 1 2 1 3 1 486 1 2 1 3 4 2 587 1 1 5 2 3 4 288 3 1 1 4 3 1 589 2 1 3 2 1 1 390 3 1 1 1 1 1 191 7 1 3 2 2 3 492 4 1 4 1 1 1 493 1 1 3 3 2 4 594 2 1 3 1 3 2 595 2 1 3 2 3 2 596 2 1 3 2 4 3 597 1 2 1 2 3 2 598 1 1 5 2 3 4 599100 382 418 342 356 358 378 216 16.89518 18.48739 15.12605 15.74525 15.8337 16.71827 9.553295 1 42 5 210 1 30 5 2 28 4 112 2 30 4 3 16 3 48 3 20 3 4 4 2 8 4 8 2 5 4 1 4 5 10 1 Creation of estate 382 Withdrawal benefits 1 56 5 280 1 32 2 30 4 120 2 16 3 2 3 6 3 34 4 2 2 4 4 14 5 8 1 8 5 4 Life coverage 418 Maturity benefits 1 30 5 150 1 38 2 16 4 64 2 26 3 34 3 102 3 18 4 8 2 16 4 14 5 10 1 10 5 2 Mode of paying premium 342 Saving component 1 8 2 10 3 12 4 32 5 36
  • 84. SAAB MARFIN MBA Charges levied factorsBrand Risk Relatives&frienimage factor Income Age ds Market condition5 1 13 3 3 25 1 5 5 1 11 1 1 1 5 21 1 1 2 2 21 1 2 3 5 25 5 5 5 1 14 1 2 2 5 31 3 2 1 4 11 2 2 2 5 23 1 1 1 4 12 4 3 1 3 34 1 1 1 5 21 1 1 1 5 13 2 5 5 5 45 4 3 4 3 53 1 3 2 5 13 2 3 1 4 51 1 1 1 1 13 2 2 2 4 15 4 2 3 2 11 1 1 1 2 12 1 3 2 5 13 2 2 1 4 14 1 1 1 3 14 2 2 1 5 33 2 2 2 3 11 1 1 2 1 24 3 2 2 5 15 1 2 2 4 33 2 1 2 4 21 5 1 3 2 1
  • 85. SAAB MARFIN MBA2 1 1 2 3 21 2 1 1 4 13 2 1 1 4 13 2 1 1 4 13 2 2 1 4 14 1 1 1 3 15 1 2 4 3 51 1 1 2 3 53 1 2 3 1 51 1 1 1 3 11 1 1 3 4 31 1 1 1 5 33 5 1 2 2 45 1 1 1 1 13 2 2 2 4 13 1 1 1 4 25 1 2 3 4 31 1 3 2 4 35 1 13 3 3 25 1 5 5 1 11 1 1 1 5 21 1 1 2 2 21 1 2 3 5 25 5 5 5 1 14 1 2 2 5 31 3 2 1 4 11 2 2 2 5 23 1 1 1 4 12 4 3 1 3 34 1 1 1 5 21 1 1 1 5 13 2 5 5 5 45 4 3 4 3 53 1 3 2 5 13 2 3 1 4 51 1 1 1 1 13 2 2 2 4 15 4 2 3 2 11 1 1 1 2 12 1 3 2 5 13 2 2 1 4 14 1 1 1 3 14 2 2 1 5 33 2 2 2 3 11 1 1 2 1 24 3 2 2 5 15 1 2 2 4 33 2 1 2 4 21 5 1 3 2 12 1 1 2 3 2
  • 86. SAAB MARFIN MBA1 2 1 1 4 13 2 1 1 4 13 2 1 1 4 13 2 2 1 4 14 1 1 1 3 15 1 2 4 3 51 1 1 2 3 53 1 2 3 1 51 1 1 1 3 11 1 1 3 4 31 1 1 1 5 33 5 1 2 2 45 1 1 1 1 13 2 2 2 4 13 1 1 1 4 25 1 2 3 4 31 1 3 2 4 3307 414 400 394 248 386 214914.28571 19.26477 18.61331 18.33411 11.54025 17.96184 1001 32 5 160 1 42 5 2102 6 4 24 2 32 4 1283 30 3 90 3 14 3 424 12 2 24 4 4 2 85 9 1 9 5 6 1 6 307 3941 56 5 280 1 12 5 602 26 4 104 2 10 4 403 4 3 12 3 20 3 604 6 2 12 4 32 2 645 6 1 6 5 24 1 24 414 2481 46 5 230 1 48 5 2402 32 4 128 2 20 4 803 12 3 36 3 16 3 484 0 2 0 4 4 2 85 6 1 6 5 10 1 10 400 386
  • 87. SAAB MARFIN MBAperson want to investAbove 1Lakh-2 2 Lakhs-33 Lakhs1Lakh Lakhs Lakhs -5Lakhs Above 5 Lakhs 1 1 11 11 1 1 1 1 1 1111 11 11 1 1 1 1 1 1 1 1 1 1
  • 88. SAAB MARFIN MBA1 1 1 1 1 1 1 1 11 1 1 1 1 1 1 1 1 11 1 1 11 11 1 1 1 1 1 1111 11 11 1 1 1 1 1 1 1 1 1 11
  • 89. SAAB MARFIN MBA 1 1 1 1 1 1 1 11 1 1 1 1 1 1 1 1 1120 22 16 28 14 10020 22 16 28 14Equity Debtfund fund Cash fund Balance fund1 3 4 24 3 2 13 2 4 13 4 2 14 3 1 24 3 1 24 3 2 11 4 3 24 3 2 11 4 3 24 2 3 14 3 1 24 1 2 34 2 3 11 3 4 24 3 2 11 2 3 42 3 4 13 2 1 42 3 1 41 2 3 4
  • 90. SAAB MARFIN MBA1 4 3 24 3 2 14 3 2 11 2 3 41 2 4 34 3 2 11 2 3 41 4 3 24 2 1 34 3 2 12 1 3 42 1 4 33 2 1 44 3 2 14 3 2 14 3 2 11 3 2 42 3 4 14 3 2 12 1 4 31 4 3 24 3 1 21 3 4 21 2 3 42 3 4 14 3 2 13 4 1 21 3 2 41 3 4 24 3 2 13 2 4 13 4 2 14 3 1 24 3 1 24 3 2 11 4 3 24 3 2 11 4 3 24 2 3 14 3 1 24 1 2 34 2 3 11 3 4 24 3 2 11 2 3 42 3 4 13 2 1 42 3 1 41 2 3 41 4 3 2
  • 91. SAAB MARFIN MBA4 3 2 14 3 2 11 2 3 41 2 4 34 3 2 11 2 3 41 4 3 24 2 1 34 3 2 12 1 3 42 1 4 33 2 1 44 3 2 14 3 2 14 3 2 11 3 2 42 3 4 14 3 2 12 1 4 31 4 3 24 3 1 21 3 4 21 2 3 42 3 4 14 3 2 13 4 1 21 3 2 4 9 8232 222 246 280 0 1 023.67347 22.65306 25.10204 28.57143 01 32 4 128 1 18 4 722 14 3 42 2 34 3 1023 10 2 20 3 26 2 524 42 1 42 4 20 1 20 232 2461 8 4 32 1 40 4 1602 24 3 72 2 26 3 783 52 2 104 3 10 2 204 14 1 14 4 22 1 22 222 280
  • 92. SAAB MARFIN MBA

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