Page |1 INTERNSHIP TRAINING REPORT ON ―SALES OF INSURANCE POLICIES IN METLIFE‖SUBMITTED IN THE FULLFILLMENT OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION (BBA) SESSION 2008-2011. BRANCH: KANKURGACHI (KOLKATA) UNDER: SANJAY KUMAR BYAHUT (Sales Manager) INTERNSHIP PERIOD: 8 Weeks or 2 months.Submitted To: Submitted By:Mr. Arunavo Narayan Mukherjee Shubhashish MandalProfessor BBA- 5th SemesterISB&M- Kolkata (2008-2011)
Page |2 BRIEF SUMMARYAs my title of the report is ―SALES OF INSURANCE POLICIES INMETLIFE‖, which is based on my work, I did in my internship in Metlife India.Metropolitan Life Insurance Company, commonly known as MetLife. It is the140 years old company and the largest life insurance provider in United States.MetLife is one of the fastest growing life insurance companies in India. It servesits customers by offering a range of innovative products in the insurance andfinancial services sector to individuals and to group customers.As a Management Trainee my main objective was to sell insurance to my leadcustomers or clients. And before I started my work I have to go through a sevenday training regarding the products the company offers, how to approach theclients, how to create a favourable demand of the product to sell, tips to crackthe IRDA exam and lots of selling & marketing tips.After the training process and after passing the IRDA exam, I have beenassigned as a Financial Advisor. The task of mine was not only concerned withselling of insurance policies to my clients but also to build a long termrelationship with the clients so that I can get repeat customers, to reinforcebetter sales. And to generate client database, I have adopted few methodologywhich includes telephone interview, approaching my relatives, friends &acquaintances etc. And after understanding their needs, I proposed them the bestsuited policies. And convinced them how the policy is going to benefit them intheir future and created the value benefited by the policy in making completepeace of mind.How am I going to prepare my Training Report:-As I did my Training Report is based on my Internship I did. The TrainingReport will contain the following details of my working in the organization:- The details of collection of data which includes both primary & secondary.
Page |3 The analysis of the data which I collected i.e. the people who are interested in buying the insurance policies now and who can buy the policies in future. The final outcome of my data analysis which will speak about the buying or purchasing process of the lead clients. The details and analysis of the Training given to me in order to sell the policies to my lead clients. The discussion about how the organization will enhance their organizational behaviour in order to get maximum output from their Financial Advisors. At last but not least, my likings and disliking about the organization and how they can improve in their working process which is basically my recommendations.Shubhashish MandalBBA-5TH SEMESTER
Page |4 ACKNOWLEDGEMENTThis project grew out of our preparation for more than twenty days. Anenormous debt is owed to our mentor, Professor Sri Arunavo NarayanMukherjee, for his wisdom, enthusiasm, support and encouragement. It is hisprofound knowledge an insight, and constant strictness and kind understandingthat help us in overcoming difficulties, mastering basic writing skills, andeforming our own ideas, which consequently have enabled me to finish thisproject. Without his revising for several times, the project would not be what itis now.We are eager to take the opportunity to thank Mr. Sanjay Kumar Byahut (SalesManager), Metlife India, Kakurgachi, Kolkata and other co-workers who havegiven us guidance, assistance and concern. They have imparted to us so muchvaluable knowledge, which will befit us a whole lifetime.In addition, we would like to thank family who always support us in whateverconditions. Their encouragement and love give me warmth, strength andconfidence, which help us in surmounting so many obstacles and in realizingour dreams.Finally, we give our heartfelt thanks to dear friends and fellow students, whohave accompanied us throughout the project.At last but not least, I would like to thank my heart out to the MicrosoftCorporation for their outstanding MS-Office software, with the help of whichthe final training report is being into existence.
Page |5 TABLE OF CONTENTSTOPICS Page Numbers 1. INDUSTRY PROFILE 6-24 2. COMPANY PROFILE 25-37 3. RESEARCH 38-42 METHODOLOGY 4. DATA ANALYSIS 43-50 5. FINDINGS 51 6. RECOMMENDATION & 52-53 SUGGESTION 7. LIMITATIONS 54 8. CONCLUSION 55 9. GLOSSARY 57-58 10.REFERENCE 59 11.ABBREVATIONS 60 12.ANNEXURE 61-63
Page |6 INDUSTRY PROFILE WHAT IS INSURANCE? Insurance may be defined as social device or tool to protect the economic value of the Life and other assets. Under the plan of Insurance a group of people are brought together and their share of money is pooled to manage the loss suffered by any of them. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. It is a means of indemnity against a future occurrence of an uncertain event. Insurance is a contract whereby in return of the payment of the premium by the insured the insurers pay the financial loss suffered by the insured as a result of the loss by the unforeseen events. The term ―risk‖ is used to define the probability of loss. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. Insurance is a pool where large number of people exposed to similar kind of risks makes contribution to the common fund out of which the losses suffered by the unfortunate few due to accidental events are made good. The sharing of risk among large group of people is the basis of insurance.
Page |7 CHARACTERISTICS OF INSURANCERisks which can be insured by private companies typically share sevencommon characteristics: 1. Large number of similar exposure units: Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses. 2. Definite loss: The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire, automobile accidents, and worker injuries may all easily meet this criterion. 3. Accidental loss: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements, such as ordinary business risks or even purchasing a lottery ticket, are generally not considered insurable. 4. Large loss: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. 5. Affordable premium: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that the insurance will be purchased, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there
Page |8 is no such chance of loss, the transaction may have the form of insurance, but not the substance.6. Calculable loss: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.7. Limited risk of catastrophically large losses: Insurable losses are ideally independent and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base.
Page |9 HISTORY OF INSURANCEOrigin of InsuranceAlmost 4,500 years ago, in the ancient land of Babylonia, traders used tobear risk of the caravan trade by giving loans that had to be later repaidwith interest when the goods arrived safely. In 2100 BC, the Code ofHammurabi granted legal status to the practice that, perhaps, was howinsurance made its beginning.Life insurance had its origins in ancient Rome, where citizens formedburial clubs that would meet the funeral expenses of its members as wellas help survivors by making some payments.As European civilization progressed, its social institutions and welfarepractices also got more and more refined. With the discovery of newlands, sea routes and the consequent growth in trade, medieval guildstook it upon themselves to protect their member traders from loss onaccount of fire, shipwrecks and the like.Since most of the trade took place by sea, there was also the fear ofpirates. So these guilds even offered ransom for members held captive bypirates. Burial expenses and support in times of sickness and povertywere other services offered. Essentially, all these revolved around theconcept of insurance or risk coverage. Thats how old these concepts are,really.In 1347, in Genoa, European maritime nations entered into the earliestknown insurance contract and decided to accept marine insurance as apractice.The first step...Insurance as we know it today owes its existence to 17th centuryEngland. In fact, it began taking shape in 1688 at a rather interestingplace called Lloyds Coffee House in London, where merchants, ship-owners and underwriters met to discuss and transact business. By the endof the 18th century, Lloyds had brewed enough business to become oneof the first modern insurance companies.
P a g e | 10Insurance and Myth...Going back to the 17th century in 1693, astronomer Edmond Halleyconstructed the first mortality table to provide a link between the lifeinsurance premium and the average life spans based on statistical laws ofmortality and compound interest. In 1756, Joseph Dodson reworked thetable, linking premium rate to age.Entering Companies...The first stock companies to get into the business of insurance werechartered in England in 1720. The year 1735 saw the birth of the firstinsurance company in the American colonies in Charleston, SC. In 1759,the Presbyterian Synod of Philadelphia sponsored the first life insurancecorporation in America for the benefit of ministers and their dependents.However it was after 1840 that life insurance really took off in a big way.The trigger: reducing opposition from religious groups.The Growing Years...The 19th century saw huge developments in the field of insurance, withnewer products being devised to meet the growing needs of urbanizationand industrialization. In 1835, the infamous New York fire drew peoplesattention to the need to provide for sudden and large losses. Two yearslater, Massachusetts became the first state to require companies by law tomaintain such reserves. The great Chicago fire of 1871 furtheremphasized how fires can cause huge losses in densely populated moderncities. The practice of reinsurance, wherein the risks are spread amongseveral companies, was devised specifically for such situations.There were more offshoots of the process of industrialization. In 1897,the British government passed the Workmens Compensation Act, whichmade it mandatory for a company to insure its employees againstindustrial accidents. With the advent of the automobile, public liabilityinsurance this first made its appearance in the 1880s and gainedimportance and acceptance.In the 19th century, many societies were founded to insure the life andhealth of their members, while fraternal orders provided low-cost,members-only insurance.
P a g e | 11Even today, such fraternal orders continue to provide insurance coverageto members as do most labour organizations. Many employers sponsorgroup insurance policies for their employees, providing not just lifeinsurance, but sickness and accident benefits and old-age pensions.Employees contribute a certain percentage of the premium for thesepolicies.In IndiaLife Insurance in India existed from long time. The modern concept ofInsurance was brought by Bruisers in India, and Oriental InsuranceCompany was the first Insurance Company who did Insurance for theIndian in 1818 and was established in Calcutta nowadays Kolkata. Thendue to no interference of government in it, private market players ruledthe market as they want to, that is why government intervened in betweento protect the interest of the mass and to safeguard the money involved init. All private companies were took over by Government and Insurancemarket was turned to Public sector and Life Insurance Corporation ofIndia was formed in 1956 to make the Insurance reachable at remoteareas and that even by low premiums or better said as affordable premiumso as to secure their life.From the beginning of Insurance in India till now a lot of changes havebeen made but the most significant change was in 1999, when IRDA wasformed. IRDA means Insurance Regulatory and Development Authority.This was formed to rethink upon opening the insurance sector for thePrivate players again but along with that to have a check upon thoseprivate players an IRDA has to act as a governing body to safeguard theinterest of the public whose money is involved in it.From that time i.e. from the year 2001 insurance sector was opened forthe private players too. Since then Insurance sector is on the boom andbusiness is flourishing and a lot of private players are coming intobusiness. Here the private players doesn‘t indicate to Indian PrivateCompanies but also foreign players are also involved in it, but to managethe money flow in and outside the country IRDA takes care of thecontribution of the money by foreign partners of private insurancecompanies. To control that IRDA has set a limit of FDI i.e. 26%.
P a g e | 12The evolution of Insurance in India can be summarized as:-Year Changes1818 Oriental Insurance Company. The first Insurance company in India1870 Bombay Mutual Life Assurance Company. First Indian Insurance company.1912 The Indian Life Assurance Company enacted the first law to regulate the life insurance business in India1926 The Indian Assurance company act enacted to enable the government to collect the statistical information about the insurance. The earlier legislation consolidated and amended the life insurance act with the objective of protecting the interest of insurance in the public.19381956 245 Indian and foreign players and prudent societies are taken once by Central govt. And nationalizedThe number of companies in Insurance particularly in Life Insurance haschanged drastically now the number is in 29.
P a g e | 13 Types of Insurance ContractWHAT IS LIFE INSURANCE?Life insurance is a contract for payment of money to the person assured (or tothe person entitled to receive the same) on the occurrence of the event insuredagainst. Usually the contract provides for – i. Payment of an amount on the date of maturity or at specified periodic intervals or at death, whichever is earlier. ii. Periodic payment of insurance premium by the policy holder to the corporation who provides the insurance. Who can buy a life insurance policy?Any person above 18 years of age, who is eligible to enter into a valid contract,Subject to certain conditions, a policy can be taken on the life of the spouse orthe children. What is a Whole Life Policy?When most people think of life insurance, they think of a traditional whole lifepolicy. These are the simplest policies to understand: You pay a fixed premiumevery year based on your age and other factors, you earn interest on the policyscash value as the years roll by, and your beneficiaries get a fixed benefit afteryou die.The policy takes you into old age for the same premium you started out with.Whole life insurance policies are valuable because they provide permanentprotection and accumulate cash values that can be used for emergencies or tomeet specific objectives. The surrender value gives you an extra source ofretirement money if you need it.
P a g e | 14 What is an Endowment policy?Unlike whole life, an endowment life insurance policy is designed primarily toprovide a living benefit and only secondarily to provide life insuranceprotection. Therefore, it is more of an investment than a whole life policy.Endowment life insurance pays the face value of the policy either at theinsureds death or at a certain age or after a number of years of premiumpayment.Endowment life insurance is a method of accumulating capital for a specificpurpose and protecting this savings program against the savers premature death.Many investors use endowment life insurance to fund anticipated financialneeds, such as college education or retirement. Premium for an endowment lifepolicy is much higher than those for a whole life policy. What is a Money Back policy?This is basically an endowment policy for which a part of the sum assured ispaid to the policyholder in the form of survival benefits, at fixed intervals,before the maturity date. The risk cover on the life continues for the full sumassured even after payment of survival benefits and bonus is also calculated onthe full sum assured. If the policyholder survives till the end of the policy term,the survival benefits are deducted from the maturity value.
P a g e | 15 SCOPE OF LIFE INSURANCE Why does one need Life Insurance?Life insurance is designed to protect you and your family against financialuncertainties that may result due to unfortunate demise or illness. You can alsoview it as a comprehensive financial instrument – as a part of your financialplanning offering you savings & investment facilities along with cover againstfinancial loss. By choosing the right policy as per your needs i.e. customizedsolutions, you will be able to plan for a secure future for yourself and yourloved ones. i. Choosing the right plan. ii. Identifying the right plan basis your needs is the first crucial step towards insurance planning. At Metlife India Insurance we help you through this decision by identifying your various needs and offering plans that are customized for you. You may also choose a plan for yourself by identifying the life stage you are at. iii. Analyzing NeedsThe following needs of a person can be fulfilled by insurance:- a. Protection: Need for a sound income protection in case of your unfortunate demise. b. Investment: Need to ensure long-term real growth of your money. c. Saving: Save for the milestones and protect your savings too. d. Pension: Need to save for a comfortable life post retirement.Once you have analyzed your needs as per above classification, you need tothen ascertain important factors such as type of cover, insurance amount as perones income, life stage and dependents.
P a g e | 16 Objectives of Life Insurance1. To spread life insurance and provide life insurance protection to the masses areasonable cost.2. To mobilize peoples savings through insurance-linked savings schemes.3. To invest the funds to serve the best interests of both the policy holders andthe nation.4. To conduct business with maximum economy, always remembering that themoney belongs to the policy holders.5. To act as trustees of the policy holders and protect their individual andcollective interests.6. To innovate and adapt to meet the changing life insurance needs of thecommunity.
P a g e | 17GENERAL INSURANCEGeneral (non-life) insurance provides a short-term coverage, usually for aperiod of one year. General insurers transact fire insurance, motor insurance,marine insurance, and miscellaneous insurance business. Among thesecategories fire and motor insurance business are predominant. Motor vehicleinsurance is compulsory in India and the motor insurance industry. Moreover,motor insurance due to third party liability claims has substantially contributedto underwriting losses.General Insurance Products Fire insurance: Fire Insurance is a comprehensive policy which covers loss on account of fire, earth quake, riots, floods, strikes, and malicious intent. It can be taken only by the owner of the premises to be insured. Motor Insurance: In motor insurance, the rates were revised. Upwards twice, once in 1982 and then in1990 as the high cost of repairs coupled with third party claims had adversely affect the insured loss ratio. Motor insurance is Mandatory leading to good amount of premium collection but it is not being fancied upon as it could lead to litigation problem. Marine Cargo Insurance: a. Cargo in Transit. b. Cargo Declaration policy. It includes insurance of Marine Hull Insurance Inland Vessels, ocean going Vessels, fishing and scaling vessels, freight at risk, construction of ships, voyage insurance of various vessels, ship breaking insurance, oil and energy in respect of onshore and offshore risks, including construction risk.
P a g e | 18 No-Traditional/Rural:Includes contractor‘s all-risk cover and the marine-cum- Cattle, crop, waterpump for agriculture, hut, and other livestock. Besides the traditionalproducts, general insurers introduced longer-term contracts such as deferredhealth insurance and project insurance erection risk cover and creditinsurance.
P a g e | 19 OBJECTIVE OF INSURANCE1. The main Objective Of insurance behind the nationalization: Life Insurance in the rural areas and in the socially and economically backward classes with a view to reach all insurable persons in the country and providing them adequate financial coverage at a reasonable cost.2. Conduct business with utmost economy and with the full realization that the money to the public.3. Meet the various life insurance need of the community that would arise in the changing social and economic environment.4. Maximize mobilization of peoples‘ saving by making insurance – linked securing adequately attractive.5. Involve all people working in the corporation to the best of their capability in furthering the interests of the insurance public by providing efficient service with courtesy.6. Bear in mind, the investment of funds, the primary obligation to its policy holders, whose money it holder in trust, without losing sight of the interest of the community as a whole; the fund is to be deployed to the best advantage of the investors as the community as whole, keeping in view national as well as the community attractive return.
P a g e | 20 BENEFITS TO THE INSURANCE POLICY HOLDER(1) Tax Benefits:Relief in income tax is available for amount paid by way of premium for lifeinsurance investment qualifying for rebate viz. insurance premia, premium paidtoward annuity plans for life insurance are specified under section 88(2) of theincome tax Act.(2) Safety:Savings through insurance guarantee financial Protection against risk of deathof the police holder. In life insurance, on death, the full sum assured is payable(with bonuses wherever applicable) whereas in other saving scheme, only theamount (saved with interest) is payable.(3) Liquidity:Loans can be raised on sole security of the policy which has acquired a paid-upvalue. Besides, a Life Insurance policy is also generally accepted as security foreven a commercial loan/housing loan,(4) Aid to Thrift:Life Insurance encourages ‗thrift‘ Long term saving can be made in a relativelypainless manner because of ‗easy instalment facility‘ (Premium can be madethrough monthly, quarterly half-yearly or yearly instalment). The salary savingscheme, popularly known as SSS provide a convenient method if payingpremium each month through deduction from one‘s salary. The salary savingscheme can be introduced in an institution of establishment subject to specifiedterms and condition.(5) Money at the time of Requirements:A suitable insurance plan or a combination of different plans can be taken tomeet specific needs that are likely to arise in future such as children‘s education,start in-life or marriage provision or even periodical needs for cash ones apredetermined stretch of time. Alternatively, policy money can be so arrangedto be used for other investments subject to certain conditions, loans are grantedto policy holders for house or for purchase of flats.
P a g e | 21(6) Insurance affords peace of mind:The security is the prime motivating factor. The security ends the tension andfinally leads to peace to mind.(7) Insurance Eliminate Dependency:At the death of husband or the father or any lead person, the family would suffera lot. The insurance is here to assist then like to provide adequate amount at thetime of suffering. The economic dependency if the family is reduced.(8) Insurance encourages savings:In most of the life policies, element of saving is predominant, this policiescombine of programme of Insurance and saving. Saving with insurance hascertain extra advantage.(9) Economic Growth of the country:For the growth of the country insurance provides string hand and mid to protectagainst loss of death. From the insurance government get more financialresource and utilize strengthen the economic condition of the country.
P a g e | 22 LIST OF INSURANCE COMPANIES LISTED IN DIFFERENT YEARS List of Insurance CompaniesSl. Registration Date of Name of the CompanyNo. Number Reg.1 101 23/10/2000 HDFC Standard Life Insurance Company Limited2 102 23/10/2000 Royal Sundaram Alliance Insurance Company Limited3 103 23/10/2000 Reliance General Insurance Company Limited4 104 15/11/2000 Max New York Life Insurance Company Limited5 105 24/11/2000 ICICI Prudential Life Insurance Company Limited6 106 04/12/2000 IFFCO Tokio General Insurance Company Limited7 107 10/01/2001 Kotak Mahindra Old Mutual Life Insurance Limited8 108 22/01/2001 TATA AIG General Insurance Company Limited9 109 31/01/2001 Birla Sun Life Insurance Company Limited10 110 12/02/2001 Tata AIG Life Insurance Company Limited11 111 30/03/2001 SBI Life Insurance Company Limited
P a g e | 2312 113 02/05/2001 Bajaj Allianz General Insurance Company Limited13 114 02/08/2001 ING Vysya Life Insurance Company Private Limited14 115 03/08/2001 ICICI Lombard General Insurance Company Limited15 116 03/08/2001 Bajaj Allianz Life Insurance Company Limited16 117 06/08/2001 MetLife India Insurance Company Limited17 121 03/01/2002 Reliance Life Insurance Company Limited18 122 15/05/2002 Aviva Life Insurance Company India Private Limited19 127 06/02/2004 Sahara India Insurance Company Limited20 128 17/11/2005 Shriram Life Insurance Company Limited21 130 14/07/2006 Bharti AXA Life Insurance Company Limited22 131 03/08/2007 Apollo DKV Insurance Company Limited23 132 04/09/2007 Future Generali India Insurance Company Limited24 133 04/09/2007 Future Generali India Life Insurance Company Limited25 134 16/11/2007 Universal Sompo General Insurance Company Limited26 135 19/12/2007 IDBI Fortis Life Insurance Company Limited27 136 08/05/2008 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
P a g e | 2428 138 27/06/2008 Aegon Religare Life Insurance Company Limited29 140 27/06/2008 DLF Pramerica Life Insurance Company Limited List of General Insurance CompaniesSl. Registration Date of Name of the CompanyNo. Number Reg.1 123 15/07/2002 Cholamandalam General Insurance Company Limited2 124 27/08/2002 Export Credit Guarantee Corporation Limited3 125 27/08/2002 HDFC-Chubb General Insurance Company Limited4 139 27/06/2008 Bharti AXA General Insurance Company Limited5 141 15/12/2008 Raheja QBE General Insurance Company Limited
P a g e | 25 COMPANY PROFILE INTRODUCTION OF METLIFE INC.MetLife, Inc. is the holding corporation for the Metropolitan Life InsuranceCompany or MetLife for short. The firm was founded on March 24, 1868. Formost of its life the company was a mutual organization, but it went public in2000.MetLife is the largest life insurer in the United States, with more than $3.3trillion of life insurance in force. A leader in savings and retirement productsand services for individuals, small business, and large institutions, MetLifeserves 90 of the largest Fortune 100 companies.The company is headquartered at 1095 Avenue of the Americas in MidtownManhattan, New York City, though it retains some executive offices and itsboard room in the MetLife Building, which it sold in 2005.The MetLife companies offer life insurance, annuities, auto and homeinsurance, retail banking and other financial services to individuals, as well asgroup insurance and retirement & savings products and services to corporationsand other institutions. For more information, please visit www.metlife.com.
P a g e | 26 INTRODUCTION OF METLIFE (INDIA)MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife,Inc. and was incorporated as a joint venture between MetLife InternationalHoldings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. PrivateLimited and other private investors. MetLife is one of the fastest growing lifeinsurance companies in the country. It serves its customers by offering a rangeof innovative products to individuals and group customers at more than 600locations through its bank partners and company-owned offices. MetLife hasmore than 50,000 Financial Advisors, who help customers achieve peace ofmind across the length and breadth of the country.MetLife, Inc., through its affiliates, reaches more than 70 million customers inthe Americas, Asia Pacific and Europe. Affiliated companies, outside of India,include the number one life insurer in the United States (based on life insuranceenforce), with over 140 years of experience and relationships with more than 90of the top one hundred FORTUNE 500® companies. The MetLife companiesoffer life insurance, annuities, automobile and home insurance, retail bankingand other financial services to individuals, as well as group insurance,reinsurance and retirement and savings products and services to corporationsand other institutions. For more information, please visit www.metlife.co.in.
P a g e | 27 METLIFE AND THE ENVIRONMENTAs an industry leader and a growing, global enterprise, MetLife has committedto driving efforts that address sustainability, reduce our carbon footprint andinvest in ventures that will have a positive impact on the environment. As ourbusiness is built on promises, we recognize the tremendous importance ofmaking yet another promise for the future by ensuring our world remains ahealthy and vibrant place for the many generations to come through ourbusinesses, our associates and our business partners, we can and will make adifference by contributing to a growing, global effort that will benefit everyonetoday and in the future.
P a g e | 28 ETHICS AND INTEGRITYFor more than a century, MetLife has built a reputation as a company thatbelieves in fair dealing, integrity, and trustworthiness. We firmly believe thatadherence to the highest standards of ethical conduct is the only acceptable wayof doing business and is the personal responsibility of every one of ourassociates. The companys well-known name and good reputation are reinforcedby our pledge to deliver value and world class service to all who do businesswith us, always keeping in mind what is best for our customers.The importance of ethics and compliance to the Company is demonstrated bythe Company‘s extensive efforts and resources directed to this area. We arecommitted to our compliance vision of having MetLife be the worlds mosttrusted company.Supporting these efforts are the MetLife core values of integrity and honesty,the fundamental building blocks of our long and successful history, that shapethe way we do business. These values are central to our efforts to achieve theMetLife vision — to build financial freedom for everyone — and emphasize ouroutward focus on customers and their needs. We recognize that our on-goingsuccess will spring from these values and, as we look to the future, we remaincommitted to the highest standards of ethics, integrity and trustworthiness,while continuing to pursue a strategy of building financial freedom foreveryone. This defines who we are.
P a g e | 29 COMPLIANCE AND FRAUD HOTLINEMetLife is committed to the highest standards of business conduct and expectsthe same from all people with whom we interact. MetLife has implemented aprogram aimed at deterring, detecting, investigating and prosecuting insurancefraud.Fraud is a major concern of everyone in the insurance industry and is ofincreasing concern to lawmakers. Not only is insurance fraud a crime in moststates, it also threatens the best interests of our customers because it raises thecost of insurance for everyone. Compliance & Fraud Hotline at 1800-462-6565 DIVERSITYMetLifes Diversity and Inclusion vision is to attract and retain the best talentand to foster an inclusive culture that leverages our diversity to drive growthand profitability wherever we do business in the global marketplace.At MetLife, diversity is core to our business, embedded at all levels of ourcompany with clear accountability for success. Our commitment to diversityand inclusion makes MetLife a more competitive company and allows us tobetter serve our customers, attract and retain the best talent, and do businesswith the best companies and suppliers around the world. It brings to MetLifefresh perspectives, new ways of thinking and more innovative products. It helpsbuild relationships in the communities we serve and helps support our brand. AtMetLife, diversity is a key driver of business performance and creates lastingshareholder value.But examples really tell the story, and through this Diversity site, youll learnmore about how MetLife delivers on its commitment to Diversity - from ourWork-Life solutions to our Enterprise-wide Diversity Council and AffinityGroups, to how were reaching Multicultural Markets.MetLife is an Equal Opportunity Employer.
P a g e | 30"Coming into your own", Its all about People, Functioning productively performing as a Leader to MetLifes key resource. in teams towards abe really effective and MetLife will succeed common purpose; successful by acting and because we are winning realising the collectivemaking decisionsindependently to get from within. power of diverse work-results. groups.Operating with an intense Conducting all business Continuously creating anddedication to managing endeavours with truth, introducing new andmonetary resources for sincerity and fairness. original ideas and ways ofstrong business results. doing things. TAGLINE ―Peace of Mind, Guaranteed‖ MASCOT- A DOG NAMED ‗SNOOPY‘
P a g e | 31 PARTNERSGeojit Securities was founded by Mr. C.J. George in 1987 as a Proprietorshipfor doing Broking business in Cochin Stock Exchange. In 1994, the businesswas taken over by Geojit Securities Ltd, a Joint Venture between Mr. C.J.George and the Kerala State Industrial Development Corporation Ltd. In thefollowing year, the company came up with an IPO and the shares were listed invarious Stock Exchanges in India in 1995.Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938 andcommenced its business from 4th July, 1939 at in Kashmir (India). The Bankwas the first in the country as a State owned bank. According to the extendedCentral laws of the state, Jammu & Kashmir Bank was defined as a govt.Company as per the provision of Indian companies act 1956. In the year 1971,the Bank received the status of scheduled bank. It was declared as "A" ClassBank by RBI in 1976. Today the bank has more than 500 branches across thecountry and has recently become a billion Dollar Company. (Contd.)
P a g e | 32Mangalore–headquartered Karnataka Bank, a leading private sector Bankhaving a network of 433 branches across 19 States and 2 Union Territories, ismore than 84 years old. The Bank is a technology savvy, customer centricprogressive bank with a national presence, driven by the highest standards ofcorporate governance and guided by sound ethical values. All the 433 branchesof the Bank are under the umbrella of core banking solution.The Bank has a host of customer friendly deposit and advances productsmeeting the varied needs and preferences of its customers. The Bank offers aplethora of technology driven products like Internet Banking facility, Dematservices, Mutual Fund products of reputed companies, Life and GeneralInsurance services, Visa enabled Debit Card with wide acceptability across theglobe. The Bank has an ambitious business turnover target of Rs. 35000 Croresfor the year 2008-09 with a branch expansion plan to reach the tally of 460branches and additional ATMs to take the total to 180 by end-March 2009.In 1982, a group of Hyderabad-based practicing Chartered Accountants startedKarvy Consultants Limited with a capital of Rs.1, 50,000 offering auditing andtaxation services initially. Later, it forayed into the Registrar and Share Transferactivities and subsequently into financial services. All along, Karvys strongwork ethic and professional background leveraged with InformationTechnology enabled it to deliver quality to the individual. (Contd.)
P a g e | 33Established in 1921, Mini Muthoottu with an illustrious history of bankingbehind them today operates from 75 branches in Kerala and 5 in Bangalore. Allbusiness concerns of Mini Muthoottu function under the strict guidelines set bythe Department of Company Law Affairs and Reserve Bank of India. They alsohave a certificate of compliance with the requirements regarding prudentialnorms from the Reserve Bank of India. Mini Muthoottu, under the leadership ofits Chairman, Mr. Roy M Mathew, offers both the resources and capabilitieslike any national player coupled with individualized attention to its customers.Way2Wealth is a premier Investment Consultancy Firm that has been launchedwith the aim of making investing simpler, more understandable and profitablefor the investors. Way2Wealth brings a wide range of product offerings fromFixed Income Securities, Life Insurance and Mutual Funds to Equity andDerivatives (on the National Stock Exchange) for the convenience and benefitof it customers. Way2Wealth has over 40 easily accessible investment outletsspread across 20 major towns and cities in the country.
P a g e | 34 METLIFE PERFORMS IN OVER THE FOLLOWING STATES Andhra Pradesh Assam Bihar Chandigarh Chhattisgarh Delhi Goa Gujarat Haryana Jammu & Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Orissa Punjab Rajasthan Tamilnadu Tripura Uttar Pradesh Uttrakhand West Bengal
P a g e | 35 STRATEGIES To achieve a top 5 market position in India through a multi-distribution, multi-product platform. To adapt MetLifes best practice blueprints as a sound platform for profitable growth. To leverage local knowledge, infrastructure and customer base. To deliver high levels of shareholder return. To build long term value with our business partners by enhancing the proposition to their customers. To be the employer of choice to attract and retain the best talent in India. To be recognized as being close and qualified by our customers.
P a g e | 36 PRODUCTS OF METLIFE INSURANCEChild Plan Met Bhavishya Met Junior Endowment Met Junior-Money BackRetirement Met Pension-ParSavings Met Sukh Met Suvida Met Saral Met 100 Met Vishwas-Rural Met Svidha Rural Met Grameen AshrayProtection Met Suraksha Met Suraksha TROP Met Suraksha Plus Met Mortgage Protector Plus Met ProtectInvestment Met Easy Super Met Smart One Met Smart PlatinumHealth Met Health Care
P a g e | 37Monthly Income Met Monthly Income Plan Met Monthly Income Plan 7 Pay
P a g e | 38 RESEARCH METHODOLOGYResearch is a common language refers to a search of knowledge. Research isscientific & systematic search for pertinent information on a specific topic,infect research is an art of scientific investigation. Research Methodology is ascientific way to solve research problem. It may be understood as a science ofstudying how research is done scientifically. In it we study various steps that aregenerally adopted by researchers in studying their research problem. It isnecessary for researchers to know not only know research method techniquesbut also technology.The scope of Research Methodology is wider than that of research methods.The research problem consists of series of closely related activities. At times,the first step determines the native of the last step to be undertaken. Why aresearch has been defined, what data has been collected and what a particularmethods have been adopted and a host of similar other questions are usuallyanswered when we talk of research methodology concerning a research problemor study. The project is a study where focus is on the following points:RESEARCH DESIGNA research design is defined, as the specification of methods and procedures foracquiring the Information needed. It is a plant or organizing framework fordoing the study and collecting the data. Designing a research plan requiresdecisions all the data sources, research approaches, Research instruments,sampling plan and contact methods.Research design is mainly of following types: -1. Exploratory research.2. Descriptive studies3. Casual studiesEXPLORATORY RESEARCHThe major purposes of exploratory studies are the identification of problems, themore precise Formulation of problems and the formulations of new alternativecourses of action. The design of exploratory studies is characterized by a greatamount of flexibility and ad-hoc veracity.DESCRIPTIVE STUDIESDescriptive research in contrast to exploratory research is marked by the priorformulation of specific research Questions. The investigator already knows a
P a g e | 39substantial amount about the research problem. Perhaps as a Result of anexploratory study, before the project is initiated. Descriptive research is alsocharacterized by a Pre-planned and structured design.CASUAL OR EXPERIMENTAL DESIGNA casual design investigates the cause and effect relationships between two ormore variables. The hypothesis is tested and the experiment is done. There arefollowing types of casual designs:I. After only designII. Before after designIII. Before after with control group designIV. Four groups, six studies designV. After only with control group design.VI. Consumer panel designVII. Exposit facto designB) DATA COLLECTION METHOD DATA COLLECTION METHOD SECONDARYPRIMARY Direct Personal Interview Indirect Personal Interview PUBLISHED UNPUBLISHED Information from Correspondence SOURCES SOURCES Mailed Questionnaire Questions filled by enumeratorsPeriod of Study: This study has been carried out for a maximum period of 8weeks.Area of study: The study is exclusively done in the area of marketing. It is aprocess requiring care, sophistication, experience, business judgment, andimagination for which there can be no mechanical substitutes.
P a g e | 40Sampling Design:The random sampling is done because any probability sampling procedurewould require detailed information about the universe, which is not easilyavailable further, it being an exploratory research.Sample Procedure:In this study ―random sampling procedure‖ is used. Random sampling ispreferred because of some limitation and the complexity. Area sampling is usedin combination with random sampling so as to collect the data from differentregions of the city.Sampling Size: The sampling size of the study is 100.Method of the Sampling:Probability Sampling:It is also known as random sampling. Here, every item of the universe has anequal chance or probability of being chosen for sample.Probability sampling may be taken inform of:Simple Random Sampling:A simple random sample gives each member of the population an equal chanceof being chosen. It is not a haphazard sample as some people think! One way ofachieving a simple random sample is to number each element in the samplingframe (e.g. give everyone on the Electoral register a number) and then userandom numbers to select the required sample.Random numbers can be obtained using your calculator, a spread sheet, printedtables of random numbers, or by the more traditional methods of drawing slipsof paper from a hat, tossing coins or rolling dice.Systematic Random Sampling:This is random sampling with a system! From the sampling frame, a startingpoint is chosen at random, and thereafter at regular intervals.
P a g e | 41Stratified Random Sampling:With stratified random sampling, the population is first divided into a number ofparts or strata according to some characteristic, chosen to be related to themajor variables being studied. For this survey, the variable of interest is thecitizens attitude to the redevelopment scheme, and the stratification factor willbe the values of the respondents homes. This factor was chosen because itseems reasonable to suppose that it will be related to peoples attitudesCluster and Area Sampling:Cluster sampling is a sampling technique used when "natural" groupings areevident in a statistical population. It is often used in marketing research. In thistechnique, the total population is divided into these groups (or clusters) and asample of the groups is selected.Then the required information is collected from the elements within eachselected group. This may be done for every element in these groups or asubsample of elements may be selected within each of these groups.Non Probability Sampling:It is also known as deliberate or purposive or judge mental sampling. In thistype of sampling, every item in the universe does not have an equal, chance ofbeing included in a sample.It is of following type:Convenience Sampling:A convenience sample chooses the individuals that are easiest to reach orsampling that is done easy. Convenience sampling does not represent the entirepopulation so it is considered bias.Quota Sampling:In quota sampling the selection of the sample is made by the interviewer, whohas been given quotas to fill from specified sub-groups of the population.Judgment Sampling:The sampling technique used here is probability i.e. Random Sampling.The total sample size is 100.
P a g e | 42 Data CollectionData is collected from various customers through personal interaction. Specificquestionnaire is prepared for collecting data. Data is collected with mereinteraction and formal discussion with different respondents and we collect datain MetLife India Insurance Company Ltd. and face to face contact with thepersons from whom the information is to be obtained (known as informants).The interviewer asks them questions pertaining to the survey and collects thedesired information. Thus, we collect data about the working conditions of theworkers of MetLife India Insurance Company Ltd.; we worked at MetLife IndiaInsurance Company Ltd and contact the workers and obtain the information.The information obtained is first hand or original in character.
P a g e | 43 DATA ANALYSIS1) Respondent age group?2) Respondent income per annum?
P a g e | 443) Respondent‘s Profession?4) Are you aware of life insurance?
P a g e | 455) Do you know about IRDA?6) How many numbers of companies in life insurance are you aware of?
P a g e | 467) Do you know about Metlife India Insurance Ltd company?8) Sources of awareness of Metlife India Insurance Ltd company?
P a g e | 479) Do you have any life insurance in any of the companies?10) Do you have any policy in Metlife India Insurance Company?
P a g e | 4811) Which type of life insurance policy do you have in Metlife?12) Are you satisfied with Metlife life insurance plans?
P a g e | 4913) Are you satisfied with customer services given by the Metlife India Insurance Company?14) Rank the Metlife India Life Insurance with other Insurance Companies in Kolkata?
P a g e | 5015) Do you know about any F.A. of Metlife India Insurance?16) Why did you invested in life insurance?
P a g e | 51 FINDINGS After analysing and interpreting the collected data. The findings are asunder. 1. HYPOTHESIS: a. Null Hypothesis: The null hypothesis is rejected because the result of survey in areas of Kolkata shows that people have much more interest in insurance sector then our assumption, i.e. more than 70% of people are interested in insurance sector. Alternate Hypothesis: The alternate assumption was right. According to this, people are more devoted in insurance sector. b. Null Hypothesis: Null hypothesis is rejected because it says that ―Most of the population in the areas of Kolkata has no awareness about Metlife.‖ Alternate Hypothesis: Alternate hypothesis is accepted; because it says that 59% population which are aware about Metlife. The awareness of IRDA in Kolkata is low. Only 57% of people know about the IRDA.The people who know about the IRDA these are mostly professional like as Advocate, CA and Servicemen. While interacting with people of rural areas I found that a large portion of market i.e. approx. 85% is aware of insurance sector. Till today people do not have a right concept about insurance sector, they relate it with death, besides as a security and investment for future etc. Although a big percentage of population is aware about the private insurance companies. Out of which only 60% are aware about a Metlife life insurance company. The people who have the life insurance policy of any company their percentage is very high it is 72% and only 28% people in Kolkata don‘t have any type of insurance policy of any company. In the Kolkata there is percentage of people who know about the Metlife is satisfactory but ratio of people have the life insurance policy are low only 33% of people have the policy of Metlife and rest 77% don‘t have the policy of Metlife but they have the life insurance policy of other companies 89% of the surveyed people are satisfied with the policies & Metlife Kolkata, while 11% are dissatisfied.
P a g e | 52 RECOMMENDATIONS AND SUGGESTIONSFollowings are the recommendations and the suggestions not only for theMetlife insurance company but also for other private life insurancecompanies if they want to complete with public/government lifeinsurance companies.1. Creating positive image:Private companies should try their level best to create positive andfavourable image in the minds of people i.e. in the minds of their targetcustomers.2. Training and development of F.A:Company must provide training to their agents and financial so that thecan satisfy customer and doubts effectively.3. Concern towards customers:Serious concern must be given to the customers as in today‘s scenario itregarded as ―Customer is the God‖. In formal words we can say that ifcan customers more loyal towards the company.4. Agency holder must be well educated:The Company should give agency to that person who is well educatedand can convince the customer, handle his queries and doubts.5. Co-operation with agents and branch managers:The Company must co-operate at most with branch managers and agents.6. Availability of branch offices:There must be branch offices in each 20-30 kms of areas.7. Efficient management:The management appointed must be that much capable that it can controlthe whole team and improve the goodwill and image of the company.8. Sales promotion and marketing:The marketing department must be so aggressive that it can have a closewatch on the competitors‘ activities. Not only this but also it must takecare of the need and wants of the customers also.
P a g e | 539. Incentive schemes and permanency in job:There must be good incentive schemes to be designed as these can acts asgood motivators for the agents. The scheme of permanent job placementmust be introduce for those F.A. and agents who have shown extraordinary performance.10. Solution of Grievances:There must regular meetings with the financial consultants and agents tomotivate them and to solve grievances if there are any.
P a g e | 54 LIMITATIONSAlthough every effort has been put into collect the relevant informationthrough the sources available, still some relevant information could notbe gathered.The concerned executives were having very busy schedule because ofwhich they were reluctant to give appointment.The time duration could not provide ample opportunity to study everydetails of the company.Executives were unaware of the many terms related to same while askingto them.As the company on the account of confidential report which has notdisclosed some figures. Moreover, in some cases separate accounts ofdivision are not separately maintained thereby, leading to restrictions inthe study.
P a g e | 55 CONCLUSIONThe size of the market has grown and size of the insurable population inIndia is needed in-depth attention and the existing player has managed tocover amount one – fourth of it. The opportunities before the players aretherefore a plenty in terms of the target audience.Life Insurance has today become a mainstay of any market economysince it offers plenty of scope for gathering large sums of money for longperiods of time. A well – regulated Life Insurance industry which moveswith the times by offering its customers tailor made products to satisfytheir financial needs, therefore, it is essential if we desire to progresstowards a worry free future.People used to buy Insurance for tax exemption but time has changednow, advertising has made the people understand the need of LifeInsurance in their lives and people are taking initiatives to buy it. Urge ofpeople to have Insurance and strong marketing can really make theindustry reach beyond the sky.
P a g e | 56 GLOSSARYAssets: Anything of value owned by a business that can be set against itsliabilities. Assets are usually divided into four types: fixed assets(typically land, buildings and machines); current assets (cash, stock,investments, work in progress and payments owing) liquid assets (cash orfunds held in a form that can be quickly converted into cash); andintangible assets (goodwill, trademarks, patent etc.)Asset Management: Investment management service provided byfinancial institutions on behalf of their clients.Assurance: A term sometimes used instead of "insurance", generally inconnection with life business, since assurance implies the certainty of anevent (such as death) and insurance only the probability.Auditor: A firm of accountants who check ("audit") a company‘saccounts and decide whether the published report is accurate.Balance Sheet: A statement showing the financial position of a businesson a specific date by listing its assets (what it owns) and its liabilities (theclaims on its assets, or what it owes).Bank Assurance: An arrangement whereby banks sell insurance andinvestment products to their customers on behalf of other financialproviders.Bear: An investor who expects share prices to fall or, more generally, hasa pessimistic outlook about the market. A bear market is a period offalling share prices. See also bull.Bid Price: What the market will pay, or what a seller will receive, for aparticular share.Bid/Offer: spread the difference between the buying price (bid) and theselling price (offer) of units in an investment. The mid-price is the middlepoint between the two and is often the price quoted in newspapers. Alsocalled the bid/ask spread.Blue Chip: A description usually applied to the biggest and most highlyregarded companies quoted on the stock market, shares in whom areconsidered a reliable and profitable investment.
P a g e | 57Bond: Technically a certificate of debt issued to raise funds, often with afixed rate of interest and a fixed repayment date. An example is gilt-edged securities ("gilts") issued by the government to borrow frominvestors via the stock market (also known as fixed interest securities).Broker: A professional intermediary who arranges insurance on behalf ofan individual or company with an insurance company, and represents thepolicyholder in negotiations and administration of that insurance with theinsurer.Bull: An investor who expects share prices to rise or, more generally, hasan optimistic outlook. A bull market is a period of rising share prices.Contract: The common name for a scheme or policy.Corporate Governance: A term used to describe the way in which rightsand responsibilities are shared in the business world. In particular, howcompanies are managed, including the structure of boards, the duties ofdirectors, executive remuneration, and how and when importantinformation is shared with the market. Statutory bodies, self-regulationand codes of best practice may set standards.Critical Illnesses Cover: a life insurance policy with the benefits payableon diagnosis of one of a number of specified medical conditions.Capital: Money invested typically in buildings and machinery.Capital Gain: The profit made on the sale of investments, such as sharesor property.Capital Gains Tax: the tax paid on any profit or gain made by sellingsomething for more than it was bought.Capital growth: the value of an investment reflected in the higher sellingprice.Claim: A call by a policyholder to the benefits payable under aninsurance policy or scheme.Commission: Payment made to a salesman, agent or other intermediary,normally in return for selling an insurance or investment policy.
P a g e | 58Compliance: The requirement to operate in accordance with statutory orregulatory guidelines. In the insurance industry, the most importantcompliance rules come from the Insurance Regulatory DevelopmentAuthority (IRDA). Most insurance companies have compliance teamswhose role is to ensure that the company follows all the necessary rulesand regulations.Insurer: is a company selling the insurance.Insured or Policyholder: is the person or entity buying the insurancepolicy.Insurance Rate: is a factor used to determine the amount to be charged fora certain amount of insurance coverage, called the premium.
P a g e | 59 REFERENCE Bibliography: Marketing Management Millennium Edition by Philip Kotler Marketing Research by Naresh K Malhotra Webliography: Search Sites: www.google.com www.wikipedia.org Company Websites: www.metlife.com www.metlife.co.in Other Websites: www.bimaonline.comCompany Resources: Product Brochures and Company Manuals Inputs from Company Personnel
P a g e | 60 ABBREVIATIONS LIC: Life Insurance Corporation FA: Financial Advisor i.e. : that is IRDA: Indian Regulation And Development Authority FDI: Foreign Direct Investment BC: Before Christ
P a g e | 61 Annexure:QUESTIONNAIRENAME OF RESPONDENT:…………………………………………………..GENDER:……………………………………………………………………...ADDRESS:…………………………………………………………………….CONTACT NUMBER:………………………………………………………..RESERCHER NAME:………………………………………………………… 1. Respondent age group? a) 18-30( ) b) 30-45( ) c) 45-60( ) d) 60> ( ) 2. Respondent income group(per year)? a) Below 100,000( ) b) 100,000-250,000( ) c) 250,000-500,000( ) d) Above 500,000( ) 3. Respondent‘s Profession? a) Serviceman ( ) b) Businessman( ) c) Professionals( ) d) others( ) 4. Are you aware about life insurance? a) Yes ( ) b) No( ) 5. Do you know about IRDA? a) Yes ( ) b) No( )
P a g e | 626. How many numbers of companies in life insurance are you aware of?a) 1-3( )b) 3-6( )c) 6-9( )d) 9>( )7. Do you know about Metlife India Insurance?a) Yes ( )b) No( )8. Sources of awareness of Metlife India Insurance?a) Advertisement ( )b) Friend circle( )c) Family member ( )d) FA of Metlife ( )9. Do you have any life insurance policy in any company?a) Yes ( )b) No( )10. Do you have any life insurance policy in Metlife India Insurance?a) Yes ( )b) No( )11. Which type of life insurance policy do you havea) Saving Plan ( )b) Protection Plan ( )c) Investment Plan ( )d) Other Plans ( )12. Are you satisfied with Metlife India Insurance Plans?a) Satisfied ( )b) Dissatisfied ( )13. Are you satisfied with customer services given by the Metlife India Insurance?a) Satisfied( )b) Dissatisfied ( )
P a g e | 63 14. Rank the Metlife India Insurance with other Insurance Companies in Kolkata? a) Best ( ) b) Good ( ) c) Average ( ) d) Bad ( ) 15. Do you know about any F.A of Metlife India Insurance? a) Yes ( ) b) No ( ) 16. Why do you invest in life insurance? a) For risk cover ( ) b) For investment ( ) c) For safe future return ( ) d) For tax benefits ( )Remarks…………………………………………………………………………………………………………………………..………………………………………………………………………………………………………………..……………………………………..Date-_____________Place- _____________ (_____________________) Respondent‘s Signature