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INTRODUCTION

About Life Insurance

1. What is life insurance?

The basic concept of Life insurance is to build a COMMON FUNDfrom the premiums contributed by policy holders. The FUND undertakesto financially safeguard the policyholders against untimely death, loss of earning capacity, and other things like purchase of a house. It iscivilizations partial solution to the problems caused by untimely death.Insurance lays the foundation of financial security against the“uncertaincertainty” of death.

2. Why life insurance?

• Provide security for family-combines risk cover and savings• Plan for life’s uncertainties-Accidental permanent total/partial,

disability; critical illness; hospitalization expenses.•

Life style maintenance-post retirement•

Tax benefits

• Encourages regular savings and protects against extravagance•

Peace of Mind

THE INDIAN LIFE INSURANCE INDUSTRY

Life Insurance happens to be a mega opportunity in India. It’s abusiness growing at the rate of 15-20 per cent annually and presently isof the order of Rs 450 billion. Together with banking services, it adds

about 7 per cent to the country’s GDP. Gross premium collection is nearly2 per cent of GDP and funds available with LIC for investments are 8 percent of GDP.

HISTORICAL PERSPECTIVE

The history of life insurance in India dates back to 1818 when it wasconceived as a means to provide for English Widows. Interestingly inthose days a higher premium was charged for Indian lives than the non-Indian lives as Indian lives were considered more risky for coverage.

The Bombay Mutual Life Insurance Society started its business in1870. It was the first company to charge same premium for both Indianand non-Indian lives. The Oriental Assurance Company was established in1880. The General insurance business in India, on the other hand, cantrace its roots to the Triton (Title) Insurance Company Limited, the firstgeneral insurance company established in the year 1850 in Calcutta bythe British. Till the end of nineteenth century insurance business wasalmost entirely in the hands of overseas companies.

Insurance regulation formally began in India with the passing of theLife Insurance Companies Act of 1912 and the provident fund Act of 1912.

Several frauds during 20's and 30's sullied insurance business in India. By1938 there were 176 insurance companies. The first comprehensivelegislation was introduced with the Insurance Act of 1938 that providedstrict State Control over insurance business. The insurance business grewat a faster pace after independence. Indian companies strengthened theirhold on this business but despite the growth that was witnessed,insurance remained an urban phenomenon.

The Government of India in 1956, brought together over 240 privatelife insurers and provident societies under one nationalized monopolycorporation and Life Insurance Corporation (LIC) was born. Nationalization

was justified on the grounds that it would create much needed funds forrapid industrialization. This was in conformity with the Government'schosen path of State lead planning and development.

IMPORTANT MILESTONES IN THE LIFE INSURANCE BUSINESS ININDIA:

1912: The Indian Life Assurance Companies Act enacted as the firststatute to regulate the life insurance business.

1928: The Indian Insurance Companies Act enacted to enable thegovernment to collect statistical information about both life and non-lifeinsurance businesses.

1938: Earlier legislation consolidated and amended to by the InsuranceAct with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over

by the central government and nationalized. LIC formed by an Act of Parliament- LIC Act 1956- with a capital contribution of Rs. 5 crore fromthe Government of India.

Structure of Insurance Industry:

1) Historical Perspective

(I) Prior to 1956 242 companies operating(ii) 1956 - 2001 Nationalization – LIC monopoly

Player – Government control

2) Present Structure of Insurance Industry

I) a) LIC – Fully owned by Government(b) Postal Life Insurance

II) Private players

1. Bajaj Allianz Life Insurance Co. Ltd.2. Birla Sun Life Insurance Co. Ltd. (BSLI)3. HDFC Standard Life Insurance Co. Ltd. (HDFC STD LIFE)4. ICICI Prudential Life Insurance Co. Ltd. (ICICI PRU)

5. ING Vysya Life Insurance Co. Ltd. (ING VYSYA)6. Max New York Life Insurance Co. Ltd. (MNYL)7. MetLife India Insurance Co. Pvt. Ltd. (METLIFE)8. Kotak Mahindra Old Mutual Life Insurance Co. Ltd.9. SBI Life Insurance Co. Ltd. (SBI LIFE)10. TATA AIG Life Insurance Co. Ltd. (TATA AIG)11. AMP Sanmar Assurance Co. Ltd. (AMP SANMAR)12. Aviva Life Insurance Co. Pvt. Ltd. (AVIVA)

13. Sahara India Life Insurance Co. Ltd. (SAHARA LIFE)14. Shriram Sunlam

III) Other likely players –

1. PNB Life Insurance

2. Reliance Life Insurance3. Axa Bharti Enterprises

Contribution to Indian Economy

Life Insurance is the only sector which garners long term Savings

1. Spread of financial services in rural areas and amongstSocially less Privileged

2. Long term funds for infrastructure

3. Strong positive correlation between Developments of CapitalMarkets and insurance/Pension sector

4. Employment generation

IRDA (Insurance Regulatory and Development Authority)

MISSION OF IRDA

“To protect the interests of the policyholders, to regulate, promote andensure orderly growth of the insurance industry and for mattersconnected therewith or incidental there to.”

ROLE OF IRDA

The Insurance Regulatory and Development Authority (IRDA), IRDAfor short, has laid down that those who wish to become insurance agentswill be given licenses only after they pass an examination prescribed byit. This course is designed for aspiring insurance agents and follows the

syllabus prescribed by the IRDA. The study of this course has to befacilitated through faculty from recognized institutions, to be arranged bythe insurance companies.

The authority helps in consulting with the insurance advisorcommittee. IRDA was set up as an independent regulatory authority,which ahs not put in place regulation in line with global forms, so far inprivate sector, 12 life insurance companies have been registered.

IRDA made some necessary parameters for becoming life advisorlike person should be at least 12 pass. It provides for insurance training of

100 hours and the prospective agents should pass IRDA exam.

Composition of Authority under IRDA Act, 1999

As per the section 4 of IRDA Act' 1999, Insurance Regulatory andDevelopment Authority (IRDA, which was constituted by an act of parliament) specify the composition of Authority Reforms in the Insurancesector were initiated with the passage of the IRDA Bill in Parliament inDecember 1999. The IRDA since its incorporation as a statutory body inApril 2000 has fastidiously stuck to its schedule of framing regulationsand registering the private sector insurance companies.

ABOUT INSURANCE AGENCY RECUITMENTS

Definition of an Agent

An agent is a person employed to do any act for another orrepresent another in dealing with a third person.

Agency as a profession

The insurance agent is bound by the terms of appointment of theinsurer and is expected to procure business for the insurer. It is not a jobhe has to do at fixed hours. Once license and appointed, he is anindependent professional.

Procedure for becoming an agent

1. The insurance Act, 1938 lays down that an insurance agent mustpossess a license under section 42 of that Act. The license is to beissued by the IRDA.

2. A license issued by the IRDA will be valid for 3 years. No agent isallowed to work for more than one life insurer or more than onegeneral insurer.

3. The qualifications necessary before a license can be given are thatthe person must

o be at least 18 year oldo have passed at least the 12th standard or equivalent

examination, if he is to be appointed in place with apopulation of 5000 or more, or 10th standard otherwise

o have undergone practical training for at least 100 hours in lifeor general insurance business

o Have passed pre-recruitment examination conducted by theinsurance institute of India or any other examination bodyrecognized by the IRDA.

3. a person with the following disqualifications is debarred fromholding a license

4. He has been found to be of unsound mind by a court of competent jurisdiction

5. He has been fond guilty of criminal breach of trust,misappropriation, cheating, forgery or abetment or attempt tocommit any such offence

6. application for renewal have to made at least thirty days before the

expiry of the license, along with the renewal fee of Rs.250

7. Prior to renewal of the license, the agent should have completed atleast 25 hour practical training in life.

8. Obtaining the license from the IRDA.

Steps to being as an Agency

1) Selection2) IRDA Training3) Licensing4) Product Training

Ready For Action

ABOUT LIFE INSURANCE COMPANIES

1. Aviva Life Insurance Company:

Aviva Life Insurance Company a joint venture between Dabur Indiaand CGU, a wholly owned subsidiary of Aviva Plc, is capitalised at Rs. 110crore. Mr. Stuart Purdy is the managing director of Aviva Life.

Aviva Life has tied up with ABN Amro, Canara Bank, Laxmi VilasBank and American Express for distribution of its products Aviva Plc is thelargest life and general insurance group of UK and the world's seventhlargest insurer with world wide premium income and retail investment

sales of £28 billion and more than £200 billion in assets undermanagement. Dabur India Limited, Established in 1884, Dabur is one of India's oldest and largest group of companies with interests in ayurvedicspecialities, pharmaceuticals, personal care and healthcare products. Theannual sales turnover of the group is over Rs. 1200 crores. The companyis headquartered in Gurgaon.

URL: www.avivaindia.com

2. Birla Sun Life Insurance Company

Birla Sun Life Insurance Company is a 74: 26 joint venture betweenAditya Birla Group and Sun Life financial Services of Canada. As on 1stMarch 2003, the company has an equity capital of Rs. 180 crore. Birla SunLife has Mr. Nani B Javeri as its CEO.

Aditya Birla Group is India's second largest business house, with aturnover of over $4.75bn and an asset base of $3.8 bn. The Group is awell diversified conglomerate with 72,000 strong workforce spanning 40Companies spread across 17 countries.

The flagship companies of the Group - Grasim, Hindalco, IndianRayon and Indo Gulf - hold leadership positions in their respective areas of business.

Sun Life Assurance Co. of Canada, established in 1871, is licensed inCanada, the U.S., the Philippines, Hong Kong, and the U.K. Its major linesof business are life insurance, annuities and mutual funds and investmentservices.

URL:www.birlasunlife.com

3. HDFC Standard Life Insurance Company Limited

HDFC Standard Life Insurance Company Limited was one of the firstcompanies to be granted license by the IRDA to operate in life insurancesector. Each of the JV player is highly rated and been conferred with manyawards. HDFC is rated 'AAA' by both CRISIL and ICRA. Similarly, StandardLife is rated 'AAA' both by Moody's and Standard and Poors. These reflectthe efficiency with which HDFC and Standard Life manage their asset baseof Rs. 15,000 Cr and Rs. 600,000 Cr respectively.

HDFC Standard Life Insurance Company Ltd was incorporated on14th August 2000.

HDFC is the majority stakeholder in the insurance JV with 81.4 %stake and Standard Life has a stake of 18.6%.HDFC Incorporated in 1977 with a share capital of Rs. 10 crores, HDFC hassince emerged as the largest residential mortgage finance institution inthe country. The corporation has had a series of share issues raising itscapital to Rs. 119 crores.

HDFC operates through 75 locations throughout the country with itsCorporate Headquarters in Mumbai, India. HDFC also has an international

office in Dubai, U.A.E., with service associates in Kuwait, Oman and Qatar.

Standard Life is Europe's largest mutual life assurance company.Standard Life, which has been in the life insurance business for the past175 years, is a modern company surviving quite a few changes sinceselling its first policy in 1825.

URL: http://www.hdfcinsurance.com 4. ICICI Prudential Life Insurance Company Limited

ICICI Prudential Life Insurance Company Limited was incorporatedon July 20, 2000. The authorized capital of the company is Rs.2300Million. The paid up capital is Rs. 1900 Million. The Company is a jointventure of ICICI (74%) and prudential plc UK (26%).

The Company was granted Certificate of Registration for carryingout Life Insurance business, by the Insurance Regulatory andDevelopment Authority on November 24, 2000.

ICICI Ltd., was established in 1955 by the World Bank, the

Government of India and the Indian Industry, to promote industrialdevelopment of India by providing project and corporate finance to Indianindustry.

Prudential plc. Was founded in 1848. Since then it has grown tobecome one of the largest providers of a wide range of savings productsfor the individual including life insurance, pensions, annuities, unit trustsand personal banking. It has a presence in over 15 countries, and catersto the financial needs of over 10 million customers. It manages assets of over US$ 259 billion (Rupees 11, 39,600 crores approx.) as of December31, 1999.

URL: www.iciciprulife.com

5.ING Vysya Life Insurance :

ING has joined hands with Vysya Bank, one of India's leading privatesector banks, to form ING Vysya Life Insurance, which is expected to bethe first Bankassurance venture in the country. Together they have ropedin GMR group, which has wide ranging interests in fields such as powergeneration, infrastructure, manufacturing, software and banking.

As per the JV agreement, Vysya Bank would hold 49 per cent stake,ING 26 percent, and the GMR Group would hold 25 per cent. The paid upcapital of the joint venture is Rs. 110 crore. The company which isheadquartered at Bangalore.

Vysya Bank is one of the most aggressive of the older-generationprivate-sector banks. With the investment from a foreign partner, BankBrussels Lamberts, in the equity of the bank, it is expected to gear up toeffectively fight competition in the new liberalized era. Vysya Bank is abig player given its significant branch penetration. It has a very highdegree of retail focus with good customer service. The Vysya Bank is one

of the largest private banks in India with around 2 million customers and480 retail outlasting Group, with an asset base of over Rs. 28,42,000crore is a global financial institution of Dutch origin, which is active in thefield of banking, insurance and asset management in more than 60countries, with nearly 90,000 employees. ING Insurance is the world’ssecond largest life insurance company as per latest Fortune rankings witha client base of over 50 million

URL : http://www.ingvysyalife.com

6) LIC

LIC has been established by an act of the Parliament and startedfunctioning from 1-9-1956. It is an autonomous body authorized to run thelife insurance business in India with its Head Office at Mumbai.

It has 7 zonal offices, over 100 Divisional offices and 2048 branchesin India, with around 6.51 lakh agents. The Corporation also has offices inLondon, Fiji and Mauritius

7. Max New York Life

Max New York Life is a partnership between Max India Limited, oneof India's leading multi-business corporations and New York Life, aFortune 100 company. The paid-up capital of the Joint Venture is Rs. 250crores

Max India Limited. Starting early 1999, Max has refocused itself intobuilding a company based on the knowledge platform that Indiarepresents. Today, Max is building businesses in the emerging knowledge-based areas of Healthcare, Financial Services and Information Technology. It has grown independently on its own and by joining hands

in partnerships with major international companies where specificbusiness opportunities are best addressed through joint ventures. MaxIndia has a significant presence in the most vital & fast growing sectors of the Indian Economy, Telecommunication services, Electronic componentsdistribution, Specialty Plastic Films and Bulk Pharmaceuticals. Thesediversified businesses are organized as Max India's 100% owned BusinessUnits (BU) and equity sharing Joint Ventures (JV).

In 1998 New York Life International Inc., a Fortune 100 company,had total revenues amounting to almost US $ 20 billion, and was rated thenumber one provider of new life insurance policies in the United States.

URL: http://www.maxnewyorklife.com/

8. MetLife India Insurance Company Private Limited ("MetLifeIndia")

MetLife India Insurance Company Private Limited is the Indianaffiliate of Metropolitan Life Insurance Company ("MetLife"), the numberone life insurer in the U.S, based on approximately US$ 2.4 trillion in lifeinsurance in-force as of December 31, 2002. MetLife India wasincorporated in April 2001 as a joint venture between MetLife

International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji andCo. Private Limited and other private investors.MetLife India is headquartered in Bangalore and has offices in 9

cities and an additional 1,000 outreach points through its distributionchannel partners.

Metropolitan Life Insurance Company ("MetLife"), a subsidiary of MetLife, Inc. (NYSE: MET), is a leading provider of insurance and otherfinancial services to individual and institutional customers. The MetLifeCompanies serve approximately 12 million individuals in the U.S. andcompanies and institutions with 33 million employees and members,

including 88 of the Fortune 100 companies. MetLife also has, through itssubsidiaries and affiliates, international insurance operations in 12countries.

URL : http://www.metlifeindia.com/

9. OM Kotak Mahindra Life Insurance :

The joint venture OM Kotak Mahindra Life Insurance started off withan initial net worth of Rs. 150 crore, with 74:26 stake between KMBL andOM

Kotak Mahindra Bank Limited (KMBL) is the holding company andthe flagship of the Kotak Mahindra Group. It was actually incorporated asKotak Capital Management Finance Limited on November 2, 1985

Old Mutual plc. is a leading financial services provider in the world,providing a broad range of financial services in the area of insurance,asset management and banking. It is a leading life insurer in South Africa,with more than 30% market share. The partnership with Old Mutual plc.,provides the Kotak Mahindra group with an international perspective andexpertise in the life insurance business.

URL : www.omkotakmahindra.com

10. SBI Life

India's largest bank SBI and Cardiff S.A a leading insurer in Francecame together to form SBI Life. It would be a 74:26 venture; with Cardif the foreign partner contributing 26% in the paid capital of Rs. 250 crore.

SBI would market the insurance products through select branches of SBI and its seven associate banks.

State Bank of India (SBI) started its business way back in 1806 asBank of Bengal. Today SBI is the largest bank in the country with more

than 9000 branches. It has seven associate banks and together they have30% of the Indian market share.

It has the distinction of being the strongest and amongst the mostprofitable bank in the country. Networth of SBI as on March 2000 stood atRs. 12146 crore (US$ 2784 mn) and it has a deposit base of Rs 19,680.3crore (US$45,121mm)

BNP Paribas, which is one among the three largest banks in Europe,is the holding company of Cardif. BNP's presence in India dates as farback as 1860 and has 9 branches here.

Cardif, the insurance arm of BNP Paribas was set up in 1973 thatspecializes in long-term savings, protection products and creditorinsurance Cardiff based in France, has the expertise for selling insuranceproducts through banks and has operations in over 20 countries. URL : http://www.sbilife.co.in/

11. Tata AIG Life Insurance Co. Ltd.

Tata AIG Life Insurance Co. Ltd is capitalised at Rs. 185 crores of

which 74 per cent has been brought in by Tata Sons and the Americanpartner brings in the balance 26 per cent.

Tata Enterprises with 82 companies, spread over seven sectors andwith an annual turnover exceeding US $ 8.8 billion, employs more than262,000 people. Tata Group has shown over years that it is a value drivencompany and has pioneering contributions in various fields includinginsurance, aviation, iron and steel. Tata companies have forged a numberof global alliances with eminent international partners in several fields. Interms of capital market performance as many as 40 listed Tata companiesaccount for nearly 5% of the total market capitalization of all listed

companies. TATA Group in Insurance

The Late Sir Dorab Tata, was the founder Chairman of New IndiaAssurance Co. Ltd., a group company incorporated way back in 1919.Government of India took over the management of this company as a partof nationalization of general insurance companies in 1972.

American International Group, Inc is the leading U.S. basedinternational insurance and financial services organization and the largestunderwriter of commercial and industrial insurance in the United States.Its member companies write a wide range of commercial and personalinsurance products through a variety of distribution channels in over 130

countries and jurisdictions throughout the world.

URL: www.tata-aig.com

ABOUT BAJAJ ALLIANZ LIFE INSURANCE COMPANY

Company Profile

Bajaj Allianz Life Insurance Co. Ltd. is a joint venture betweentwo leading conglomerates. Allianz AG is one of the leading globalinsurance companies headquartered in Munich, Germany Established in1890, more than 110 years of experience in insurance and Bajaj Auto ,

one of the Largest 2 & 3 wheeler manufacturer in India. Bajaj group, a Rs.8000 crore group, a household name in India with a strong brand imageand brand loyalty Bajaj Group is synonymous with quality and customerfocus.

Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12thMarch 2001. The company received the Insurance Regulatory andDevelopment Authority (IRDA) certificate of Registration (R3) No. 116 on3rd August 2001 to conduct Life Insurance business in India.

Key Achievements in FY 2006-07 :

•Bajaj Allianz Have sold over 40,00,000 policies to satisfied customers

• A network of the Bajaj Allianz 876 offices spanning the country

• Shareholder capital base of Rs 700 cr.

• Accelerated Growth of Bajaj Allianz sold policy and new business infiscal year

Fiscal Year

No. Of Policy SoldIn FY

New BusinessIn FY (Rs. InCr.)

2001-2002 21,376 7

2002-2003 1,15,965 69

2003-2004 1,84,443 180

2004-2005 2,88,189 857

2005-2006 7,81685 2717

2006-2007 20,79,217 4270

BANCASSURANCE

The company has a strategy for Bancassurance. There are two of the tie-ups are:

1. Standard Chartered Bank

2. Syndicate Bank

PRODUCTS OF BAJAJ ALLIANZ LIFE INSURANCE

COMPANY:

Group Insurance

1. NEW GROUP SUPERANNUATION SCHEME

Assure your Employees a financially secured, stable and

independent

post retirement life. Group Superannuation Scheme will be

established under an irrevocable trust, with trustees appointed by

Company taking care of the administration.

2. GROUP CREDIT SHIELD

Available for Employer- Employee Groups and Non Employer-Employee Groups. This scheme insures the loan amount

outstanding in the account in case of premature death or disability.

3. GROUP TERM LIFE

Available for Employer- Employee Groups and Non Employer-

Employee Groups. This scheme covers the members of an

organization against the risk of premature death or disability.

4. GROUP TERM LIFE

in lieu of EDLI (Employees Deposit Linked Insurance Scheme). This

scheme is a better alternative to the Employees Deposit Linked

Insurance Scheme, 1976, under Sec 17 (2) of the Employees

Provident Fund and Miscellaneous Provisions Act.

5. NEW GROUP GRATUITY CARE

Giving your Employees and their families the heartening

reassurance of your care and financial security. Group Gratuity

Care is a Multi Featured Employee Welfare Scheme, which

addresses your Gratuity liability with flexibility like never before.

Individual Insurance

1. Protector

A Mortgage Reducing Term Insurance Plan. This is the perfect plan

to protect the family from the repayment liability of outstanding

loans, in the unfortunate case of death of the loanee. There is also

an option to cover the co- applicant of the loan at a very nominal

cost under this plan.

2. Cash Gain

Money Back Plan. This is the only money back plan that offers

quadruple protection, going up to 4 times the basic sum assured,

and a family income benefit.

3. Swarna Vishranti

Retirement Plan. In addition to life insurance and attractive tax

benefits, this plan enables you to make adequate provisions for

your years after retirement as well.

4. InvestGain

an Endowment Plan. This savings plan combines high protection (up

to quadruple cover) with a unique family income benefit.

5. Term Plan with Return-of-Premium

An economic way of providing life cover, this plan also ensures the

return of all premiums at the time of maturity.

6. Lifetime Care

Whole Life Plan. This whole life plan provides survival benefits at the

age of 80 thereby making sure you are financially secure at the

time when you need it the most.

7. Key man Insurance

A Promising Business Opportunity. Keyman Insurance provides you

with the unique opportunity to protect your business against the

unfortunate loss of key people, while giving you valuable tax

advantage and a lovely tool to help employee loyalty too.

8. New Unit Gain Plus

The thumb rule for buying insurance is that your insurance needs

are minimal in your early earning years, increase with added

responsibilities (Marriage, children, loans etc.) and taper off by the

time you retire. It is difficult to find a single insurance plan that can

take care of all your changing requirements in life – additional

protection, more money to invest, sudden requirement of cash or a

steady post-retirement income.

Additional Riders Benefit For Unit Linked Product - Bajaj Allianz

Additional Benefits – Additional protection for you and your family

available with UnitGain Plus.

9. New UnitGain Easy Pension Plus.

Unit Linked Retirement Plan without life cover

Bajaj Allianz New UnitGain Easy Pension Plus, is a plan that helps

you take control of your future and ensure a retirement you can

look forward to. This is a regular premium investment linked

deferred annuity policy. Available as: New UnitGain Easy Pension

Regular Premium & New UnitGain Easy Pension Single Premium.

10. Swarna Raksha I

A fixed annuity for life will be payable, and on death of the

annuitant, the nominee will be entitled to receive an amount that is

equal to the lumpsum used to purchase the annuity.

11. MahilaGain Rider

The unique plan that takes care of you and your loved ones and

provides benefits like

• Critical Illness Benefit

• Reconstructive Surgery Benefit for Breast(s) due to Breast Cancer

• Congenital Disability Benefit

• Complications of Pregnancy Benefit

12. HealthCare

This is a three-year health insurance plan, providing comprehensive

health cover with life insurance benefit. You can choose the amount

of cover for each benefit separately in multiples of the minimum

cover amount, subject to a maximum multiple.

13. New UnitGain Premier SP

• Upfront Allocation of 105% of single premium on day 1

• Flexi maturity after 6years

14. New UnitGain Super

• High Allocation

• Guaranteed life cover

15. New FamilyGain

• The only Unitlinked insurance plan with ethical equity fund.

• Suits religious investment guidelines as well.

16. Savecare Economy – SP

• An ideal plan for a one-time lump sum investment that provides for

savings with high risk-cover.

• An investment that provides financial security and liquidity.

An ideal plan for a one-time lump sum investment that provides for

savings with high risk-cover. This Single Premium investment plan for

10 years.

17. New UnitGain Plus SP - participates in the profits of the company.

18. UnitGain Guarantee SP

• High Allocation• Full or partial withdrawals are allowed anytime after 3 years.

19. UnitGain Guarantee SP

• High Allocation

• Full or partial withdrawals are allowed anytime after 3 years.

20. New Risk Care

"Insure your Today with us to Ensure your family Smiles Tomorrow."

• A non-participating traditional Term Assurance plan.

• Higher insurance coverage at Low premium.

• Regular/Single Premium payment options.

Insurance for NRI’s

1. InvestGain - Our 'With Profits Endowment Plan'.

2. CashGain - Our 'With Profits Money Back Plan'.

3. ChildGain - Our 'With Profits Money Back Plan' for children.

4. Lifetime Care - Our 'With Profits Whole of Life Plan'.

5. Swarna Vishranti - Our 'With Profits Differed Annuity Plan'.

6. UnitGain - Our 'Unit Linked Whole of Life Plan'.

Investment Avenues in Bajaj Allianz Life InsuranceCompany:

Corporate Bonds

• Corporate issue paper – mainly through private placement route

• Banks, Insurance Companies, Mutual funds are main holders of thispaper

• Rating of the corporate determines the yield

Govt of IndiaSecurities

Corporate

Equity1%

FixedDeposits5%

Mutual fund1%

• In Indian Market only AA or above corporate bond are traded

• Credit Spread - For AAA corporate bonds the yield is currently about0.9% higher than government bond of same maturity.

• For AA+ the credit spread is about 1.1% and AA the spread isaround 1.3%

Government Securities

RBI auctions Government of India and State Government Bondson a regular basis in the market

• Broad Auction plan is announced 2 twice a year•

Banks, Primary Dealers, Insurance Companies are main holdersof this paper

• Yield on Government papero 1 year – 5.2%

o 10 year - 6.6%o 20 year -7.3%

Equity

• Small portion of policyholders funds invested in equity

• Shall increase the share as we mature – up to 10%

• Purchase both in secondary market and in public issues

Unit Linked funds

• Equity – Passive• Equity – Active

• Balanced

• Debt

• Cash

Unit Linked funds

Rs million Unit Gain Unit Gain

Cash Fund 102 38 140

Debt Fund 314 36 351

Equity Active 66 105 171

Equity Index 576 32 608

Total 1058 212 1270

CHAPTER 2: RESEARCH METHODOLOGY

Please find below the details of the research objectives andmethodology obtained in this study

Research Objectives:

The key objectives of the study are

1. To check the importance of various benefits of agency providedby insurance industry in bardoli city.

2. To measure perceptions with respect to insurance agency inbardoli city.

3. To assess the awareness level regarding various life insurancecompanies in bardoli city.

4. To check to what extent agents agree with Bajaj Allianz agencyfeatures in bardoli city.

5. To devise important guidelines that can useful to insurancecompanies.

Design / Methodology / Approach:Research Design:

The research design is Descriptive. A descriptive researchdesign tries to discover answers to the questions who, what, when,

where, and, sometimes, how. The researcher attempts to describe ordefine a subject, often by creating a profile of a group of problems,people, or events.

Descriptive investigations have a broad appeal to the administratorand policy analyst for plan in, monitoring, and evaluating. In this context,how questions address issues such as quantity, cost, efficiency,effectiveness, and adequacy.

This is carried out using quantitative survey of 150 target audiencemembers in Bardoli city. Each respondent is personally contacted to fill upthe questionnaire. In this method, regarding sampling design, non-probability sampling method was selected. The research design isdescriptive because descriptive research provides data about “who, what,when, where and how” of a situation, not what caused it. It provides thenumber of times something the average number of occurrences or centraltendencies.Type of Data Used:

1. Primary Data: This data was collected through questionnaire from target

audience members in and around bardoli city

2. Secondary Data:Data was collected through secondary sources like Internet,

Books on Insurance and Business Research Book

Sampling Plan

1. Sample Unit:Sample Unit includes students, businessperson, and employees

of government and private sectors.

2. Sample Size:Sample Size selected was 150, which was a very feasible figure

looking into time constraints.

3. Sampling Procedure:In this method, regarding sampling design, non -probability

sampling design has been selected. Further, convenience sampling

method was selected.

Method of Data Collection:

1. Field area: The area for survey was Bardoli city.

2. Contact method:

Contact method for survey was face-to-face personal interview.

Duration of data collection: From 15th June 2007 to 15th July 2007

Data Analysis:

One sample T-test is the statistic test, which is used to test thedifference between sample statistic and a hypothesized populationparameter. It is used when the type of data are interval in nature.

Chi-square test has been used to provide the method fro testing theassociation between the dependent and independent variables.

Data Analysis has been done using SPSS Software for doing T-testand Chi-square test.Research Limitations:

The following are the limitations of this study.

1. Since the sampling method used was convenience sampling due totime and cost constraint, the result cannot be generalized to thepopulation.

2. The target audience members may misunderstand some of thequestions and there by give wrong responses.

3. Many of the target audience members had very little knowledge

about insurance sector. Therefore, their comments on the insurancesector may be negatively biased.

CHAPTER 3: DATA PRESENTATION & ANALYSIS

1) Awareness of Life Insurance companies.

Purpose of this question: To know the awareness level about theInsurance companies

FrequencyPercent

yes 137 91.3no 13 8.7

Total 150 100.0

In the study it was found out that the awareness level of insurancefirm is highest 91 % are aware with life insurance companies.

Awareness Level of Insurance Firm

2) If you want to work as an insurance advisor which of thefollowing Life Insurance Company you will prefer most.

Purpose of this question: To know which life insurance company areprefer most as an insurance advisor in target audience.

CompanyFrequency Percent

LIC 69 46.0Bajaj Allianz 32 21.3ICICI Produncial 17 11.3Birla Sun Life 14 9.3Reliance 11 7.3other 7 4.7

Total 150 100.0

In study it was found out that LIC is having highest level of top of mind awareness followed by Bajaj Allianz (21%), ICICI Produncial (11%),Birla sun life (9%), Reliance (7%) and other life insurance company (4%).

3) Which Occupation is consider most important for being anInsurance Advisor.

Occupation Frequency Percent

Profession 71 47.3

Businessman 30 20.0

Housewife 10 6.7

Student 31 20.7Other 8 5.3

Total 150 100.0

Most Prefer Company

Bajaj Allianz,

Produncial,

BirlaSun

Life,14

Reliance, 11

Other, 7

Bajaj Allianz

ICICI Produncial

BirlaSunLife

Reliance

In the study it was found out that Profession (47%) is highestconsider followed by student (21%), Businessman (20%), House wife (7%)and other (5%) Occupation are consider most important for being anInsurance Advisor

4) How did came to you know about Life Insurance Company

Purpose of this question: To know which type of Media uses toknow about the Life Insurance Companies.

Media Frequency Percent TV 67 44.7Internet 28 18.7Magazine 17 11.3Hoardings 9 6.0News Paper 17 11.3Other 12 8.0 Total 150 100.0

Frequency

Internet

Magazine

Hoardings

News Paper

11%Other

Internet

Magazine

Hoardings

News Paper

From the figure, we can see that the main sources of awareness forlife insurance company TV (45%), Internet (19%), Magazine (11%),Newspaper (11%), and Hoarding (6%), other (8%).

5) Do you know that Insurance provide extra earningopportunity by working Part time.

Purpose of this question: To know Insurance can be provide anextra earning opportunity by working as part time

Frequency

Percent

Yes 136 90.7

No 14 9.3 Total 150 100.0

In the study, it was found out 90% of the sample knows insuranceprovide extra earning opportunity by working part time.

6) The basic factor that you consider most important for beingan Insurance Advisor

Purpose of this question: To know the basic factor are consider asan

insurance advisor in target audience.

Factor Frequency PercentBrand Name 75 50.0Commission Rate 30 20.0Social Service 38 25.3Other 7 4.7

Total 150 100.0

In the study, it was found out Brand name (50%), Commissionrate(20%),Social service (25%), and other(5%) of the sample are considerto as an insurance advisor.

7) The factors which are demotivate for being an Insuranceadvisor

Purpose of this question: To know which factor are demotive for

being an insurance advisor.

FactorFrequency Percent

Examination 61 40.7Fees of examination

29 19.3

Factor Consider AsAnInsuranceadvisor

BrandName

Commission

Social Service

5% BrandName

CommissionRate

Social Service

Job notpreferred

35 23.3

Other 25 16.7 Total 150 100.0

Demotivate Factor As An Insurance Advisor

Examinati

Fees of

examinati

J ob not

preferred

Examination

Fees of

examination

J ob not

preferred

In the study, it was found out demotivate factor for insuranceadvisor examination (41%), fees of examination (19%), job not prefer(23%) and other (16%)

1) Cross tabulation - Consider Factor as an Insurance Advisorversus Education

Null Hypothesis (H0) = there is no significant association between thetwo Variables of Consider Factor as an Insurance Advisor and Education.

Alternative Hypothesis (H1) = there is significant association betweenthe Two Variables.

Education Total

UnderGraduate

Graduate

PostGraduate

ConsiderFactor as

anInsuranceAdvisor

Brand Name Count

26 26 23 75

% withinEducation

74.3% 37.1% 51.1% 50.0%

CommissionRate

Count3 21 6 30

% withinEducation

8.6% 30.0% 13.3% 20.0%

SocialService

Count5 19 14 38

% withinEducation

14.3% 27.1% 31.1% 25.3%

Other Count 1 4 2 7% withinEducation

2.9% 5.7% 4.4% 4.7%

Total Count 35 70 45 150% withinEducation

100.0%

Chi-Square Tests

Value df Asymp. Sig.(2-sided)

Pearson Chi-Square

16.024(a) 6 .014

Symmetric Measures

Value Approx. Sig.Nominal by

Nominal

Contingency

Coefficient .311 .014N of Valid Cases 150

The significance value is 0.014 Here null hypothesis is accept andreject the alternative hypothesis. So, there is no significant associationbetween two variables

INFERENCE:

From the table, we can see that the target audience members in theeducation under graduate have been highest refer a brand name as aninsurance advisor under graduate (74%), graduate (37%) and postGraduate (23%) and commission rate graduate (30%) and social service

graduate(27%)

Explanation of Pearson’s Chi-square:

The Chi-square test is carried out at 95% confidence level (0.05significance level). The Pearson Chi-square value comes out as 0.014which is less than the significance level of 0.05, it means there is a nosignificant association between Consider Factor as an Insurance Advisorand Education.

Explanation of Contingency Co-efficient:

The contingency co-efficient measures the strength of the output. If the value is close to 0, there is no strong correlation between twovariables, if the value ranges between 0.5 and 1, there exist a strongcorrelation.

Here, we can conclude that there is no strong correlation betweenConsider Factor as an Insurance Advisor and Education.Because the value of contingency co-efficient is 0.311

2) Cross tabulation – Media versus Age Group

Null Hypothesis (H0) = there is no significant association between thetwo Variables of media and age group.

Age Group Total

18-24 25-31 32-38 39-4545Above 18-24

TV Count31 35 1 0 0 67

% within

Age Group41.9% 50.7% 25.0% .0% .0% 44.7%

Internet

Count17 9 2 0 0 28

% withinAge Group

23.0% 13.0% 50.0% .0% .0% 18.7%

Magazine

Count8 9 0 0 0 17

% withinAge Group

10.8% 13.0% .0% .0% .0% 11.3%

Hoardings

Count4 5 0 0 0 9

% withinAge Group

5.4% 7.2% .0% .0% .0% 6.0%

NewsPaper

Count7 7 1 2 0 17

% withinAge Group

9.5% 10.1% 25.0%100.0%

.0% 11.3%

Other Count 7 4 0 0 1 12% withinAge Group

9.5% 5.8% .0% .0%100.0%

Total Count 74 69 4 2 1 150% withinAge Group

100.0%

Chi-Square Tests

SymmetricMeasures

Value Approx.Sig.

Nominal by Contingency .436 .019

Value df

Asymp.Sig. (2-sided)

Pearson Chi-Square35.217(a) 20 .019

Nominal CoefficientN of Valid Cases 150

The significance value is 0.019 Here null hypothesis is accept and

reject the alternative hypothesis. So, there is no significant associationbetween two variables.

INFERENCE:

From the table, we can see that the target audience members in themedia slab age group 25-31 year has been refer a TV(51%),magazine(13%) and hoarding (7%) as a media ,18-25 year has referinternet(23%) ,39-45 year has refer newspaper(100%) as an media.

The Chi-square test is carried out at 95% confidence level (0.05significance level). The Pearson Chi-square value comes out as 0.019which is less than the significance level of 0.05, it means there is a nosignificant association between media and age group.

The contingency co-efficient measures the strength of the output. If the value is close to 0, there is no strong correlation between twovariables, if the value ranges between 0.5 and 1, there exist a strong

correlation.

Here, we can conclude that there is no strong correlation betweenmedia and age group. Because the value of contingency co-efficient is0.436

3) Cross tabulation: Life Insurance Awareness versus Education

Null Hypothesis (H0) = there is no significant association between thetwo Variables of awareness of life insurance and education.

Education Total

UnderGraduate

Graduate

PostGraduate

LifeInsurance

Awareness

yes Count 31 66 40 137% within

Education88.6% 94.3% 88.9% 91.3%

no Count 4 4 5 13% withinEducation

11.4% 5.7% 11.1% 8.7%

Total Count 35 70 45 150% withinEducation

100.0%100.0%

Chi-Square Tests

Value df

Asymp. Sig.

(2-sided)Pearson Chi-Square

1.448(a) 2 .485

Symmetric Measures

ValueApprox.Sig.

Nominal byNominal

ContingencyCoefficient

.098 .485

N of Valid Cases 150

The significance value is 0.485 Here null hypothesis is reject andaccept the alternative hypothesis. So, there is significant associationbetween two variables

INFERENCE:

From the table, we can see that the target audience members in thegraduate category have the highest awareness level of life insurance

(94%) followed by post graduate (89%) and undergraduate (87%).

The Chi-square test is carried out at 95% confidence level (0.05significance level). The Pearson Chi-square value comes out as 0.485which is more than the significance level of 0.05, it means there is asignificant association between variable awareness of life insurance and

education.

Here, we can conclude that there is a strong correlation betweenmedia and age group. Because the value of contingency co-efficient is0.098

4) Cross tabulation: Preference for Life insurance Companiesversus Occupation

Null Hypothesis (H0) = there is no significant associationbetween the two Variables of awareness of life insurance andeducation.

Alternative Hypothesis (H1) = there is significant associationbetween the Two Variables.

Occupation Tota

Profession

Businessman

Housewife

Student Other

Pref erenceforLIC

LIC Count

38 11 5 13 2 69

% withinOccupation

53.5% 36.7% 50.0%41.9%

BajajAllianz

Count10 9 2 7 4 32

% withinOccupation

14.1% 30.0% 20.0%22.6%

ICICIProduncial

Count 8 2 2 4 1 17

% withinOccupation

11.3% 6.7% 20.0%12.9%

Birla SunLife

Count4 6 1 3 0 14

% withinOccupation

5.6% 20.0% 10.0% 9.7% .0% 9.3%

Reliance Count 6 1 0 3 1 11% withinOccupation 8.5% 3.3% .0% 9.7%

12.5% 7.3%

other Count 5 1 0 1 0 7% withinOccupation

7.0% 3.3% .0% 3.2% .0% 4.7%

Total Count 71 30 10 31 8 150% withinOccupation

100.0%

100.0%100.0%

100.0%

Chi-Square Tests

Value df Asymp. Sig.(2-sided)

Pearson Chi-Square19.025(a) 20 .520

Symmetric Measures

Thesignificance value

is 0. 520 Here nullhypothesis isreject and accept the alternative hypothesis. So, there is significantassociation between two variablesINFERENCE:

From the table , we can see that the target audience members inthe under graduate category have the highest preference of LIC(66%),graduate category have the highest preference ICICI produncial (18%)and birla sun life (12%) and post graduate category have the highestpreference bajaj Allianz (25%) and reliance(7%).

The Chi-square test is carried out at 95% confidence level (0.05significance level). The Pearson Chi-square value comes out as 0.520which is more than the significance level of 0.05; it means there is asignificant association between variable Preference for Life insuranceCompanies and Occupation.

Here, we can conclude that there is a strong correlation betweenmedia and age group. Because the value of contingency co-efficient is0.335

5) Cross tabulation: Demotivate Factor for Insurance Advisor

versus Occupation

Null Hypothesis (H0) = there is no significant association between thetwo Variables demotivate as insurance advisor and occupation.

ValueApprox.Sig.

Nominal byNominal

.335 .520

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square

10.783(a)

Symmetric Measures

ValueApprox.Sig.

Nominal byNominal

.259 .548

Occupation Total

Profess

Business

nt OtherDemotivateFactorForInsuranceAdvisor

Examination Count

29 12 5 12 3 61

% withinOccupation

40.8% 40.0% 50.0% 38.7% 37.5% 40.7%

Fees of

examination

11 11 1 5 1 29% withinOccupation

15.5% 22.7% 10.0% 30.1% 12.5% 19.3%

Job notpreferred

Count18 3 2 10 2 35

% withinOccupation

25.4% 10.0% 20.0% 32.3% 25.0% 23.3%

Other Count 13 4 2 4 2 25% withinOccupation

18.3% 13.3% 20.0% 12.9% 25.0% 16.7%

Total Count 71 30 10 31 8 150% withinOccupation

100.0%

100.0%100.0%

100.0%

The significance value is 0. 548 Here null hypothesis is reject andaccept the alternative hypothesis. So, there is significant associationbetween two variables.

INFERENCE:

From the table, we can see that the target audience members in theoccupation House wife are demotivate factor is examination (50%),student have demotivate factor is fees of examination (30%) followed bystudent is job is not preferred (32%) and other (18%) in profession

The Chi-square test is carried out at 95% confidence level (0.05

significance level). The Pearson Chi-square value comes out as 0.548which is more than the significance level of 0.05, it means there is asignificant association between variable are demotivate as insuranceadvisor and occupation.

The contingency co-efficient measures the strength of the output. If the value is close to 0, there is no strong correlation between twovariables, if the value ranges between 0.5 and 1, there exist a strong

correlation.

Here, we can conclude that there is a strong correlation betweendemotivate as insurance advisor and occupation.. Because the value of contingency co-efficient is 0.259

Perception of Relative Comparison Features of LifeInsurance Companies with Bajaj Allianz Life InsuranceAccording To Respondents.

Features InsuranceCompany(Mean)

Bajaj Allianz(Mean)

extra income3.29 3.81

Flexibility3.76 3.7

Promotional Scheme

3.72 3.71High Growth

3.52 3.68Insurance Plan

3.79 3.71

In the study it was found out extra income opportunity of insurancecompany (3.29) in Bajaj Allianz (3.81) is important followed by flexibility inworking hour of insurance companies (3.76) in Bajaj Allianz (3.7),promotional offer insurance companies (3.72) in Bajaj Allianz (3.71), highgrowth potential in insurance companies (3.52) in Bajaj Allianz (3.68) andwide range of well designed insurance plans in insurance companies(3.79) and in Bajaj Allianz (3.71)

Relative Beliefs of Respondents With Respect To Bajaj Allianz

1) Bajaj Allianz Life Insurance Agency Gives You Good ExtraIncome Earning Opportunity.

Null Hypothesis (H0) = there is no significant difference betweencalculated mean and hypothesis mean. So, Target audience

Income

Flexibility PromotionalScheme

Growth

Insurance

InsuranceCompanies

Bajaj Allianz

members agree that Bajaj Allianz agency provides extra earningopportunity.

Alternative Hypothesis (H1) = there is significant differencebetween calculated mean and hypothesis mean.

One-Sample Statistics

Statistics N MeanStd.Deviation

Std.ErrorMean

BALIC offerIncome earningopportunity

150 3.81 .878 .072

One-Sample Test

Test Value = 4

t df Sig. (2-tailed)

MeanDifference

95% ConfidenceInterval of theDifference

Lower Upper LowerUpper

BALIC offerIncomeearning

opportunity

-2.605 149 .010 -.187 -.33 -.05

At 95% confidence level, the significance value is 0.010 Here nullhypothesis is rejected and accept the alternative hypothesis. It meanstarget audience members are agree with Bajaj Allianz regarding extraearning opportunity.

2) Bajaj Allianz Life Insurance Co. Ltd agency offers flexibility

in working hours

Null Hypothesis (H0) = there is no significant difference betweencalculated mean and hypothesis mean. So, Target audiencemembers are neutral that Bajaj Allianz agency providesflexibility in working hours.

One-Sample Test

Test Value = 4

Sig. (2-

tailed)

MeanDifferen

95% ConfidenceInterval of the

DifferenceLower Upper Lower Upper Lower Upper

BALIC offerFlexibleworkinghours

-5.030 149 .000 -.300 -.42 -.18

At 95% confidence level, the significance value is 0.000 Herenull hypothesis is rejected and accept the alternative hypothesis. Itmeans target audience members are agree about Bajaj Allianz agency

provides flexibility in working hours

3) Bajaj Allianz Life Insurance agency offers various

N MeanStd.Deviation

Std.ErrorMean

BALIC offerFlexible workinghours

150 3.70 .730 .060

promotional schemes benefits to agent

Null Hypothesis (H0) = there is no significant difference betweencalculated mean and hypothesis. So, Target audiencemembers are neutral that Bajaj Allianz agency provides various

promotional schemes to agent.

Alternative Hypothesis (H1) = there is significant differencebetween calculated mean and hypothesis.

N Mean

Deviation

Std.Error

MeanBALICPromotionalscheme toagent

150 3.71 .763 .062

One-Sample Test

Test Value = 3

MeanDifference

Lower Upper Lower Upper Lower UpperBALICPromotionalscheme toagent

11.455 149 .000 .713 .59 .84

At 95% confidence level, the significance value is 0.000 Here nullhypothesis is rejected and accept the alternative hypothesis. It meanstarget audience members are more than neutral with Bajaj Allianz withrespect to various promotional schemes to agent.

4) Bajaj Allianz Life Insurance Co. Ltd agency offers HighGrowth Potential

members are neutral that Bajaj Allianz agency provides highgrowth potential.

N Mean

Deviation

Std.Error

MeanBALIC Highgrowthpotential

150 3.68 .780 .064

One-Sample Test

Test Value = 3

Difference

95% Confidence

Interval of theDifference

Lower Upper Lower Upper Lower UpperBALIC Highgrowthpotential

10.678 149 .000 .680 .55 .81

At 95% confidence level, the significance value is 0.000 Here nullhypothesis is rejected and accept the alternative hypothesis. It means

target audience members are more than neutral with Bajaj Allianz withrespected to high growth potential.

5) Life Insurance agency offers a wide range of well designedInsurance plans.

members are neutral Bajaj Allianz agency provides a wide rangeof well- designed plans which are helpful to agent in this

business.

N MeanStd.Deviation

ErrorMean

BALIC Welldesignedinsuranceplans

150 3.71 .729 .059

One-Sample Test

Test Value = 3

MeanDifference

Lower Upper Lower UpperBALIC Welldesignedinsuranceplans

11.879 149 .000 .707 .59 .82

At 95% confidence level, the significance value is 0.000 Here nullhypothesis is rejected and accept the alternative hypothesis. It meanstarget audience members are more than neutral with Bajaj Allianz withrespect to a wide range of well designed plans.

CHAPTER 4: FINDING

Such key findings are as follow:

1. According to the study, LIC is having highest level of brandawareness followed by Bajaj Allianz and ICICI Prudential.

2. The major sources of awareness for Bajaj Allianz Life Insurance Co.Ltd. are TV and Internet is other like magazine and newspaper.

3. Around 91% target audience members are known that insuranceprovides extra earning opportunity through part time work.

4. Around 92% target audience members are awareness about theinsurance firm.

5. In the study it was seen that flexibility in working hours has highestrelative importance followed by range of plans, high growth rate,and extra income earning opportunity, various promotional schemes.In The study with respect to Bajaj Allianz Life Insurance the targetaudience members are neutral or more than neutral with respect toflexibility in working and wide range of well designed plans.

6. In the study respect to Bajaj Allianz Life Insurance, the targetmembers are neutral with respect to the extra income earningopportunity, and various promotional scheme

7. In the study it was seen 50 % audience prefer a Brand Name as aninsurance advisor.

8. 90% of the sample knows insurance provide extra earningopportunity by working part time.

10. The basic factor Brand Name is considered as an insuranceadvisor in target audience and the factor Examination of

Insurance advisor are demotivate for being an insurance advisor

CHAPTRE 5: RECOMMENDATIONS

The recommendations are made on the basis of the question, which

were asked to the respondence to know how much they are aware of lifeinsurance .these recommendations are based on my findings.

1. Bajaj Allianz life insurance company members are neutral withearning opportunity. So, provide better facility for there highestsatisfaction.

2. The member are not aware with bajaj allianz so, the firstopportunity is aware to the members as compare to the LICmembers

3. To provide various promotional schemes to the members of bajajallianz.

4. In education graduate members are consider a commission rate asan insurance advisor.

5. In 25-31 age groups are more prefer a TV as a media and TV is amajor source of aware bajaj allianz life insurance Company.

6. In education graduation member is highest awareness in the life

insurance and he was preferred a commission rate.

CONCLUSION

In the Conclusion, I would like to say that I havesuccessfully completed 2 months of Agency Recruitmentsdynamics in bardoli city in bajaj allianz Life insurance co. ltd. Ihave also found that most of the People in the market areconfused for bajaj allianz life insurance or to invest their money inany other Investment Schemes. In the market I have observedthat people are required to get Convince more and more to theextent of their satisfaction.

BIBLOGRAPHY

1. cooper, D.R & Schindler, P.S.(2006), Business Research Methods,

Tata McGraw Hill, New Delhi

2. http://www.allianzbajaj.co.in/life insurance/aboutus

3. http://www.irdaindia.org

4. http://www.indiacore.com/insurance.html

5. IC 33 Life Insurance (revised) (Pre-Recruitment examination forinsurance agents)

APPENDIX

Questionnaire

Respected Sir/Madam

I am Jayesh Patel the student of MBA (2nd Semester), of ShrimadRajchandra Institute of Management & Computer Application, Tarsadi. Asa part of my academic curriculum, I have undertaken a project on“Agency Recruitment”.

I request you to please spare some of your valuable time to fill upthe questionnaire. This information provided by you will be kept strictly

confidential.

Q.1 Are you aware of Life Insurance firm?

[ ] Yes [ ] No

Q.2 if you want to work as an insurance advisor which of the following LifeInsurance Company you will prefer most?

[ ] LIC [ ] Bajaj Allianz

[ ] ICICI Prudential [ ] Birla Sun Life[ ] Reliance [ ] Other Specify________________________

Q.3 How did came to you know about Life Insurance Company?

[ ] TV [ ] Internet[ ] Magazine [ ] Hoarding[ ] News Paper [ ] other specify________________________

Q.4 Do you know that Insurance provide extra earning opportunity byworking as a Part time?

[ ] Yes [ ] No

Q.5 which is the basic factor that you consider most important for beingan Insurance Advisor.

[ ] Brand Name [ ] Commission Rate

[ ] Social Service [ ] Other Specify________________________

Q.6 which of the following factor demotivate you being an Insuranceadvisor?

[ ] Examination [ ] Fees of Examination[ ] Job not preferred [ ] Other Specify________________________

Q.7 to what extent you are agree/disagree with followingstatements.

A) Life Insurance agency offer extra income earning opportunity.

[ ] Strongly Disagree [ ] Disagree [ ] Neutral[ ] Agree [ ] Strongly Agree

B) Life Insurance agency offers flexibility in working hours.

C) Life Insurance agency offers various promotional schemesbenefits

To agent.

D) Life Insurance agency offers High growth potential.

[ ] Strongly Disagree [ ] Disagree [ ] Neutral

[ ] Agree [ ] Strongly Agree

E) Life Insurance agency offers a wide range of well designedInsurance Plans.

Q.8 Indicate to what extent you agree with the Bajaj Allianz LifeInsurance Co. Ltd.

A) Bajaj Allianz Life Insurance Co. Ltd agency gives you a good extraIncome Earning Opportunity.

B) Bajaj Allianz Life Insurance Co. Ltd agency offers flexibility inWorking hours.

C) Bajaj Allianz Life Insurance agency offers various promotionalSchemes benefits to Agent.

D) Bajaj Allianz Life Insurance Co. Ltd agency offers High GrowthPotential.

[ ] Strongly Disagree [ ] Disagree [ ] Neutral

[ ] Agree [ ] Strongly Agree E) Bajaj Allianz Life Insurance Co. Ltd agency offers a strong

Company/brand image Is helpful to agent in becoming agencyBusiness.

F) Life Insurance agency offers a wide range of well designedInsurance Plans.

Personal Detail

Name: ___________________________________________________

Address: ____________________________

____________________________

Phone no: ____________________________

Age Group:[ ] 18-24 Year [ ] 25-31 Year[ ] 32-38 Year [ ] 39-45 Year[ ] 45 Year & Above

Education:[ ] Under Graduate [ ] Graduate[ ] Post Graduate

Gender:[ ] Male [ ] Female

Occupation:[ ] Professional [ ] Businessman[ ] Housewife [ ] Student[ ] Other Specify

Family Annual Income:[ ] Less Than 1, 00,000 Rs.[ ] 1, 00,000 - 2, 00, 00 Rs.[ ] 2, 00,001 - 3, 00,000 Rs.[ ] 3, 00,001 - 4, 00,000 Rs.[ ] Above 4, 00,000

THANK YOU

final jayesh(06mba28)

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