Comparative Study of ulips of selected companies Presented By:- Pallavi Jain MBA 2A
Insurance Regulatory and Development Authority IRDA is a national agency of the Government of India, based in Hyderabad. It was formed by an act of Indian Parliament known as IRDA Act 1999. Mission of IRDA as stated in the act is "to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental there to."
Introduction to the Company
The Right Organization to Partner With
Historical Background of the Company Money Matter Inc. was started by Mr. Prem Pal Sharma in 2002 in Rajasthan. In Rajasthan they work under the name of Money Matter Wealth Advisors Pvt. Ltd. It has its head office in Delhi. It has six branches in Rajasthan. In Punjab, Money Matter Inc. start their services in 5th September 2008. Right now they have four branches in Punjab. For Punjab Region they have their head office in Mohali .
Quick Facts Incorporated on 5th September 2008. Presence in Punjab and Rajasthan. 6 offices with 60 professionals and 100 Business associates. Locations: Mohali (Punjab) Sri Ganganagar (Rajasthan) AnupGarh (Rajasthan) Suratgarh (Rajasthan) Ramsinghpur (Rajasthan) Ludhiana (Punjab) Upcoming Branches: Jalandhar (Punjab) NawanShahar (Punjab) Amritsar (Punjab) Panchkula (Haryana)
Vision Enabling Success, Enriching Lives, Spread Smiles To create superior value in financial sectors.
Acquire and Transform
Processes Processes Right People Organizational Alignment Execution Discipline Right People Organizational Alignment Execution Discipline Pillars Values Caring ; Honesty ; Passion ; Team Work ; Disciplined Professionalism
Money Matter Inc. Differentiators Opportunity in India Customer Needs Business Model Career & Growth Prospects
Focus on Customer, Not Product . . . Not a Product Program, . . . instead a Customer Program Understand financial needs and key expectations. Evaluating the customer as a whole, not just for a product. Product features are designed for the specific segment.
Introduction to Particular Branch “Money Matter Inc. wants to be the Preferred Partner for all Financial Needs of the Customer” Objective
Products This is basically a wealth Management unit deals in all the almost all investment option present in market. They give there services in :- Insurance Demat Account Mutual Funds Bonds Share Debenture Corporate FDs & Corporate Loan. Gold
The Companies associated with Branch In Life Insurance In General Insurance 1) Tata AIG 1) Tata AIG General Insurance 2) Kotak Life Insurance 2) Reliance General Insurance 3) Aviva Life Insurance 3) Bajaj Allianz General Insurance 4) ICICI Prudential 4) Royal Sundram 5) LIC 5) United 6) Bajaj Allianz 6) National 7) Birla Sun Life 7) Oriental 7) HD FC Standard Life 8) New India 8) SBI Life 9) Iffco Tokyo 9) Reliance Life 10) Star Health 10) Star Health
Organization Chart of Training Unit
Departments There are two departments in Money matter Inc. Sales 2) Human Resource HOD- Mr. Bikramjeet Singh HOD- Ms. NavjeetKaur Objectives of Sales Department:-Objectives of HR Department:-
Five Years Goal Achieve market share of 5% (top own-branch players) within target segment 1 2 Serve a satisfied customer base of ~2 million customers Be the best employer in financial services industry in India, attracting diverse talent due to its unique business model and wide product range 3
SWOT Analysis of Money Matter Inc.
Introduction to topic
Insurance + Investment.
Gains depend upon market moments.
Potential for better returns.
Structure of ULIPs
Premium Allocation Charges.
Fund Management Charges.
Rider Premium Charges.
Partial Withdraw Charges.
Different types of funds in ulips
Advantages of ULIPs
Plans under the Study
LIC Money Plus
LIC Market Plus 1
ICICI PruLifeStage Assure
ICICI Prudential LifeTime Plus
Kotak Smart Advantage Plan
Kotak Super Advantage Plan
SBI Life Unit Plus III :-
Limitations Time has played a biggest constraint that the research could not be carried out comprehensively as the duration of the study was only 6 - 8 weeks. The sample size for collecting the primary data was meager as it includes only 100 respondents, hence the conclusion would not be a universal one. Personal biases and prejudices of the customers may also affect the study. Balance sheet was not provided.
Title Comparative study of ULIPs of selected companies
Objectives To compare the ULIP plans on the basis of selected parameters.
To find out the factors influencing the investors to invest in ULIP plans.
To study the satisfaction of the investors from their companies.
Research Methodology Type of Research This is descriptive type of research in which respondents had been surveyed to check their preferences regarding the ULIP Plan
Sample Design Universe: All the investors who are investing in the ULIP plans.
Population: All the investors who are investing in ULIP plans of any of the company which includes LIC, ICICI Prudential, SBI Life and Kotak Mahindra Old Mutual in Ludhiana city from past three years.
Sampling Unit: Every single investor of any company which includes ICICI Prudential, LIC, SBI Life and Kotak Mahindra Old Mutual who are investing in ULIP plans from past three years is the sampling unit.
Sample Size: The sample size for the survey conducted is 100 respondents. Equal numbers of respondents are taken for each company i.e. 25.
Sampling Technique: The technique used is Non Probability technique. Under Non Probability technique, Convenience Sampling is used.
Method of Data Collection The two methods of data collection were used which are as follows:- Primary Data Secondary Data
Limitations Data collection error . Respondents can hide the real information. Time. Sample size cannot always represent the whole population. Balance sheet was not provided.
Data Analysis and interpretations
Table4.1Performance of different funds of Money Plus
Table 4.2 Performance of different funds of Market Plus 1
Table 4.3 Performance of different funds of ICICI Pru Life Stage Assure
Table 4.4 Performance of different funds of Life Time Plus
Table 4.5 Performance of different funds of Kotak Smart Advantage Plan
Table 4.6 Performance of different funds of Kotak Super Advantage Plan
Table 4.7 Performance of different funds of Unit Plus III
Table 4.8 Performance of different funds of Horizon III
Table 4.9 Comparison of Equity Funds
Table 4.10 Comparison of Bond Funds
Table 4.11 Comparison of Balanced Funds
Table 4.12 Comparison for Cash Funds
Data Analysis for LIC 4.16 Time of purchase of ULIP Plan
Table 4.19 Type of ULIP Plan Purchased
Table 4.20 Funds used for investment
Table 4.22 Features required while purchasing ULIP Plans
Table 4.23 Premium Allocation Charges paid in 1st year
Table 4.24 Premium Allocation Charges to be paid after 5th year
Table 4.25 No. of free switches
Table 4.26 Cost of every extra switch
Table 4.28 Returns they actually got
Table 4.29 Features present in the ULIP Plans of the investors (N=25)
Table 4.30 Satisfaction from their company(N=25)
Table 4.31 Continuation with same company
Data Analysis for ICICI Prudential Table 4.35 Time of purchase of ULIP Plan
Table 4.38 Type of ULIP Plans
Table 4.38 Type of ULIP Plans
Table 4.39 Funds used for investment
Table4.41 Features required while purchasing ULIP Plans (N=25)
Table4.42 Premium Allocation Charges paid in 1st year
Table4.43 Premium Allocation Charges to be paid after 5th year
Table4.44 No. of free switches
Table4.45 Cost of every extra switch
Table4.47 Returns they actually got
Table4.48 Features present in the ULIP Plans of the investors(N=25)
Table4.49 Satisfaction from their company(N=25)
Table4.50 Continuation with same company
Table4.54 Time of purchase of ULIP Plan
Data Analysis for Kotak Mahindra Old Mutual Table4.57 Type of ULIP Plans
Table4.58 Funds used for investment
Table4.60 Features required while purchasing ULIP Plans
Table4.61 Premium Allocation Charges paid in 1st year
Table4.62 Premium Allocation Charges to be paid after 5th year
Table4.63 No. of free switches
Table4.64 Cost of every extra switch
Table4.66 Returns they actually got
Table 4.67 Features present in the ULIP plans of the investors(N=25)
Table4.68 Satisfaction from their company(N=25)
Table4.69 Continuation with same company
Data Analysis for SBI Life Table4.73 Time of purchase of ULIP Plan
Table4.76 Type of ULIP Plan Purchased
Table4.77 Funds used for investment
Table4.79Features required while purchasing ULIP Plans (N=25)
Table4.80 Premium Allocation Charges paid in 1st year
Table4.81 Premium Allocation Charges to be paid after 5th year
Table4.82 No. of free switches
Table4.83 Cost of every extra switch
Table4.85 Returns they actually got
Table4.86Features present in the ULIP Plans of the investors (N=25)
Table4.87 Satisfaction from their company(N=25)
Table 4.88 Continuation with same company
Table 4.89 Features they look into (N=100)
Table 4.90 Comparison on different parameters
Table 4.91 Satisfaction from the company
Findings LIC enjoys credibility over other private players in the industry. People look for security over returns in market linked plans.
People are investing in ULIPs to get high returns and fulfill family responsibilities.
People are showing interest in private companies because of their services.
The premium allocation charges are higher in the beginning of the policy term.
Contd, Return, tenure of investment, tax benefit, insurance coverage and brand name are considered before purchasing any ULIP plan.
People look for returns, tenure of the plan, tax benefit, sum assured in ULIP plans. People mostly go for Wealth Creation Plans. SBI Life Plans give high returns and number of free switches.
SBI Life and LIC customers are satisfied from their companies.
Recommendations Employees should be given more training about products, as this will help them to explain and guide the customers better.
Motivation, immediate rewards and better incentive packages can also help them to do better.
Focus should be given on capital guarantee products.
More promotional activities should be undertaken to make the investors aware of Money Matter Inc.
Complete information regarding the plans should be given to the investors at the time of investment. It should include all the hidden charges as well.