customerawarenessbajajallianz.doc

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ABSTARCT

The project report on “A study on customer awareness to enhance market share of

Bajaj Allianz Unit Link Insurance Plan” in Hubli city. I through under took the project by

the help of BAJAJ ALLIANZ Life Insurance Ltd. Sales team manager Karimnagar.



Objectives:

1. To study the awareness level of Bajaj Allianz ULIPs with view to

recommend measure to improve market share.

2. To find vital communication media.

3. To know the factors that influence investors while taking investment

decisions.

4. To find potential market for ULIPs.



Scope of the study:

The research was undertaken to gather information from the

respondent to know exactly how many people aware of ULIPs in

Hubli city and the study is restricted within the city.

One of the fast growing city in Karnataka and represents huge

market for scope with more than 90 lakhs people.

Hubli is one of the commercial areas .

It is a place where the small and large industries are located .with

the more increase population and there style more people are

conscious about the their lives.



RESEARCH METHODOLOGY

Data source :Primary (Filed Survey)

Secondary data (internal)

Area of Research : Hubli city

Research instrument : Questionnaires

Sample plan : Personal interview

Sample unit :Businessman’s, jobholders,

professionals etc.

Sampling method : Random sampling

Sample size : 100 customers

INDEX

PARTICULAR Page no



Chapter-I

1) Introduction 09

2) Literature Review 18

3) Statement of the problem 19

4) Purpose of the study 19

5) Scope of the study 26

6) Objectives of study 27

Chapter-II

1) Organization Profile 29

2) Organization Chart 62

3) Sampling 64

4) Research Design 64

5) Data Collection Methods 64

6) Measuring tools. 65

Chapter-III

1) Result & discussion with graphs & charts. 68

2) Summary, conclusion, & a proposed action plan with resource requirements

and projected benefits to the organization. 84

Chapter-IV

1) Appendix

Questionnaire 88

Weekly Reports



2) Bibliography 92



COMPANY PROFILE:

Bajaj Group

A STRONG INDIAN BRAND- HAMARA BAJAJ

One of the Largest 2 & 3 wheeler manufacturer in the world .



21 million + vehicles on the roads across the globe

managing funds of over Rs5200crore

Bajaj Auto finance one of the largest auto finance companies in India Rs5934cr

turnover and profits after tax of 732cr in 2004-05

Bajaj group ,a Rs. 8,000 crore group ,a household name in India with a strong

brand image and brand loyalty.

Bajaj Group is synonymous with quality and customer focus.

Bajaj Auto is a Rs.4,000 crore auto giant.

4

th

largest in the world.

Has over 15,000 employees.

Allianz Group

Allianz Group is one of the world's leading insurers and financial services

providers

Founded in 1890 in Berlin,

Allianz is one of the leading global insurance companies headquartered in

Munich, Germany .

Established in 1890 ,more than 110 years of experience in insurance.

Allianz has over 700 subsidiaries and approximately 1,81,000 employees

worldwide.

Allianz global network extends to over 70 countries in:

o Europe .

o South and Northern Americas.



o Africa.

o Middle East.

o Asia Pacific.

World largest insurance company by revenue 520353cr

worldwide 2nd gross written premium 477930cr

3rd largest assets under management(AUM) and largest insurance companies

AUM of Rs9594200cr.

11th largest corporation in the world

50% global business from life insurance close to 60 million lives insured globally.

Allianz’ shares are treated at the 5 leading international stock exchanges:

Frankfurt.

London .

Paris.

Zurich.

New York.

Insurance to almost half of the Fortune 500 companies.

Bajaj Allianz life Insurance



Bajaj

Allianz life Insurance Company Limited is a joint venture between Bajaj Auto Limited

and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and



strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and

Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to

conduct General Insurance business (including Health Insurance business) in India.

The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Auto

holds 74% and the remaining 26% is held by Allianz, AG, Germany.

Key Achievements in FY 2005-06 :

• No.1 Pvt Life Insurer FY 2006-06. Leading by Rs. 78 Cr.

• No.1 Pvt Life Insurer in Retail Business. Leading by Rs. 339 Cr.

• Whopping growth of 216% for the FY 2005-06

• Have sold over 13,00,000 policies to satisfied customers

• Is backed by a network of 550 offices spanning the country

• Accelerated Growth

Fiscal Year No of policies sold in FY GWP in FY

2007-2008 (6mths) 3,88,189 Rs 87 cr.

2008-2009 4,15,965 Rs 269 cr.

2010-2011 5,86,443 Rs 521 cr.

2011-2012 7,88,189 Rs 2002 cr.

2012-2013 10,81,685 Rs 5134 cr.

Assets under management Rs 3,324 cr.

Shareholder capital base of Rs 500 cr.



Company punch line

Mission:



As a responsible customer focused market leader, we will strive to understand

the insurance needs of the consumers and translate it into affordable products that deliver

value for money.

Why Bajaj Allianz Life Insurance:

The Bajaj Allianz Difference

• Business strategy aligned to clients’ needs and trends in Indian and global

economy / industry.

•Internationally experienced core team, majority with local background.

• Fast, decentralized decision-making.

• Long-term commitment to market and clients.

Shareholder in Bajaj Allianz life insurance company:

Bajaj Auto Limited

Bajaj Auto Limited is the largest manufacturer of two and three –wheelers in India and

also one of the largest manufacturers in the world. Bajaj Auto has been in operation for

over 55 years. As a promoter of Bajaj Allianz General Insurance Company Ltd., Bajaj

Auto has the following to offer.

• Vast distribution network.

• Knowledge of Indian consumers.

• Financial strength and stability to support the insurance business.



CHANNEL PARTNERS

Bancassurance Vantage

http://www.allianzbajaj.co.in/corporateweb/channel/ba/index.html

http://www.allianzbajaj.co.in/corporateweb/channel/ba/index.html



UNIT LINKED INSURANCE PLAN OR MARKET LINKED

INSURANCE PLAN (ULIP).

INTRODUCTION TO ULIP

ULIP came into play in the 1960s and became very popular in Western Europe and

Americas. The reason that is attributed to the wide spread popularity of ULIP is because

of the transparency and the flexibility which it offers. As times progressed the plans were

also successfully mapped along with life insurance need to retirement planning. In

today’s times, ULIP provides solutions for insurance planning, financial needs, financial

planning for children’s future and retirement planning. Features of ULIP distinguish

itself through the multiple benefits that it provides to the consumer. The plan is a one-

stop solution providing: Life protection· Investment and Savings· Flexibility- Adjustable

Life Cover- Investment Options· Transparency· Options to take additional cover against-

Death due to accident- Disability- Critical Illness- Surgeries· Liquidity.

ULIP distinguishes itself through the multiple benefits it provides to the policyholders.

These plans are designed with a view to help the customers to utilize the market

opportunities by investing in the share market, capital market and at the same time have

the facility of Death Benefit and Maturity Benefit.



Meaning

It is a plan, which provides Life Insurance, and here policy value at any time varies

according to the value of the underlying asset at that time.

It is a plan that provides the client with the benefit of protection and flexibility.

An ULIP plan works as a one-stop advantage for the policyholder. It gives the

policyholder a wholesome advantage of integrated financial planning.

STRUCTURE OF ULIP: -

ULIP

CONTRIBUTIONCONTRIBUTION

LESS- CHARGESLESS- CHARGES

LIFE COVER LIFE COVER

INVESTMENTREPRESENTED AS

NAV

INVESTMENT

REPRESENTED AS

NAV



NAV CONCEPT

It exhibits the value (or the price) that one has for his investment or one will have to pay

for his investment.

As, the investment made by different people are different, the value (or the price) is the

expressed in per unit terms. It helps in knowing the value of Insurance at any point of

time.

Technical Calculation of NAV: -

UNIT Value = (Total market Value of all assets invested less expenses related

to Investment management / Total no. of outstanding units)

Factors affecting NAV:

Market Value of investment portfolio, Number of Units, Expenses and Investment

Income.

Ex: If 2,00,000 /- has been accumulated in the equity fund and the no. of units issued is

10,000 /- then the NAV of the equity fund is: -

2,00,000 / 10,000 = Rs 20 / -

As the equity market develop the fund grows from 2,00,000 / - to 220,000/-

Now the NAV = 2,20,000 / 10,000 = Rs 22 / -

If among these 10,000 units the policyholder has 5000 units then the value of investment

as of now is Rs 1,10,000.

Thus a unit linked plan actually tells, what is the value of the fund



.BASIC FEATURES OF ULIP

1. Life protection

2. Investment and savings

3. Flexibility

4. Transparency

5. Added Benefits

a) Death due to accident

b) Any kind of disability

c) Critical illness

d) Surgeries6. Liquidity

7. Tax Planning

8. Adjustable Life Cover

9. - Investment Options

-



1) LIFE PROTECTION

Start

Working

Start aFamily

Children

Establishi

ng Career

Retiremen

t Time

The graph shows the various needs of the customer at different point of time,

individuals needs differ and his need for life protection fluctuates. ULIP satisfies

the varying needs of the customer providing him with more and more

protection as and when he requires, by allowing the policyholder to increase or

decrease the death benefit.

It is usually multiple of the contribution being paid, which ensure that the

contribution is adequate enough to provide life protection. And is also able to

maintain a sem balance between protection and savings.

2) INVESTMENTS AND SAVINGS



ULIP provides the client with option of investing as per his risk appetite and gets

returns accordingly. These various options available for an individual to make

investment in comparatively high risks instruments and get high returns. Below

shown is a graph illustrating the various investment options for a client.

Short

term

debt

funds

Debt

funds

Balance

d funds

Equity

funds

Risk

Example 1: Here are four types of funds in which a client can invest. In each case

the risk goes on increasing with the type of fund. The client has an option to shift

as the risk and return orientation changes (Switch).

3) FLEXIBILITY

The client has an option to choose the amount of sum assured and the premium

amount he is capable of paying. In case of certain plans of ULIP the client is

allowed to choose the premium.

Eg: Lifetime and Lifetime I the client has a flexibility to decide the life cover

according to his financial needs, independent of premium selected.



Following points enumerate the flexibility feature of ULIP

a) Increase in death benefit.

As life cycle changes of a client he passes through various risks and

responsibilities. He can increase or decrease the death benefit accordingly.

b) Decrease in death benefit.

If the client is unable to pay the same amount of premium he can decrease

the death benefit with certain conditions applying according to the

particular plans.

c) Premium holiday

After paying the premium regularly for 3 years from the starting date of

the policy the client can take a premium holiday if he is unable to pay a

particular premium due. On returning from the premium holiday the client

can pay the previous premiums if he desires or continue from that date.

d) Choice of fund.

There are four kinds of funds available for a client of ULIP. He has an

option to switch between these four funds. He can either choose only one

or invest in all four depending on his risk tolerance.

Plan Plan objective Risk Investment pattern

Maximiser High growth and High Equity and equity



(Growth) capital appreciation

over a long terms

related securities: Max

90%, Debt, money

market and cash: Min

10%

Balancer

(balanced)

Balance of capital

appreciation and

study returns over a

long terms

Average Equity and equity

related securities: Max

40%, Debt, money

market and cash: Min

60%

Preserver Equal balance of

capital appreciation

and study returns

over a long term

Low Debt instrument: Max

50%

Money market and

cash: Min 50%

Protector

(Income)

Study returns over a

long term.

Moderate Debt instrument: Max

100%

Money market and

cash: Max 25%

e) Switch between the funds

The policyholder has a choice two reallocate the premium paid by him on

every premium policy anniversary. He can switch between the above four

funds to avail the advantages of market fluctuations.

f) Top ups

Some times the client may have surplus amount after his expenses. ULIP

allows him to save that amount by investing in the insurance he can avail

the benefit of top up by paying extra premium, which will be invested in

the share market by the insurer company. The client gets expert fund

management. The policyholder is allowed to do as many top ups in the

tenure of plan.



g) Premium redirection

The policyholder is allowed to reallocate the premium paid each time to

different fund structure. Thus whenever the premium is due (As per the

premium payment mode), he can redirect the current premium into

different asset allocations than the previous time. This helps the

policyholder to optimize the funds in accordance to market with out using

the switch option.

e) Assignment option

The policyholder can assign the policy to any of the nominees or any bank in

case he has taken a loan on the title of the policy. Unfortunately if something

happens to the policyholder then the insurer will repay the loan taken by the

client to the extent of premium paid.

4) Transparency

ULIP products are transparent in terms of, the policyholder is aware of where his

contribution is being allocated. The policyholder is aware of the various charges

charged to him.

The Various charges of the ULIP are: -

a) Contribution related Charges- Running expenses of the policy

b) Administrative Charges- Issuance cost, distribution costs etc

c) Fund Management Fee- cost of being and selling the various financial

instruments for various funds.

d) Mortality Charges: cost of providing life protection.

e) Rider charges: cost of other protection charges.

f) Surrender charges: cost to cover initial expenses.



g) Bid offer charges: difference between the offer price of units and the selling

price i.e. bid price of units. It covers the cost of selling the policy.

h) Transaction specific charges: cost of changing funds, toping up the investment

component or withdrawals

Daily NAV: A feature that lets us know on a daily bases, how the money in

insurance plan is growing.

5) ADDED BENEFITS

To get extra protection ULIP provides the policyholder the advantage of rider

attachments.

a. Death due to accident (ADBR)

b. Disability (ABR)

c. Critical Illness (CIBR)

d. Surgeries (MSAR) (Now discontinued)

6) LIQUIDITY

The feature makes ULIP a marketable plan. The policyholder has an option of

withdrawals in case if need arises. ULIP provides easy access to the money as and

when the policyholder may requires. There are two types of withdrawal options.

a) Partial b) complete

The value of withdrawal reduces the death benefit by same amount. This facility

can be avail only after three full premium payment years are completed. The

minimum worth of this units and a maximum where in at least Rs. 10000/- worth

units remain in all the funds put together.

7) TAX PLANNING



This is another feature of ULIP that motives the policyholder to invest in the

insurance plans. They usually invest to avail the tax benefit. Regulation in India

allows tax benefits in the contribution paid under section 88, contribution paid for

health riders critical illness and major surgical is allowed tax benefits under

section 80D, as per the prevailing tax laws.

Maturity benefits are tax free under section 10(10) D, provided life come is at

least 5 times of the annual contribution paid.

Death benefit is tax free under section 10(10) d.

With so many tax benefits available in one instrument ULIP tends to be an

intelligent tax-planning tool.

Working of a ULIP Plan

For Example

A client put in regular contribution of Rs.20, 000 /-. From this amount a % is deducted as

contribution.

Life rime regular PremiumLife rime regular Premium

AllocatedPremium

AllocatedPremium

Part of the Premiumtowards the policyExpenses

Part of the Premiumtowards the policyExpenses

Allotment of Units Allotment of Units

Insurance

Charges

InsuranceCharges

This goesto the

Protectiona/c toprovideagainstthe 3DEffect

This goesto the

Protectiona/c toprovideagainstthe 3DEffect

VariousInvestmentOptions. Facilityof withdrawals

and investingback in theInvestment

VariousInvestmentOptions. Facilityof withdrawalsand investing

back in theInvestment

Units that build up theinvestment value

Units that build up theinvestment value



Therefore if the contribution related expense is 40% - Rs.8000/- will be deducted as

contribution charges.

The amount that is now available is Rs.20000-8000=12000/-

Now, if the client who is available is aged 30 years were to take a life cover of 500,000/-

then mortality (1.50/- per thousand at the age of 30) charge of 750 /- will be deducted.

This amount will provide life cover to the policy. The remaining amount of –11250/- will

be invested in any one of them or all of them.

The Investment is shown in terms of units. Thus if client invests in debt fund and the

NAV of the debt fund is Rs. 15/-(market price) then the no. of units that the client will get

is 11,250/15=750. For this investment-fund management fee will be charged and the

charges for maintaining the policy an administrative charge are levied.

Are ULIPs similar to mutual funds?.

In structure, yes; in objective, no. Because of the high first-year charges,

mutual funds are a better option if you have a five-year horizon.

But if you have a horizon of 10 years or more , then ULIPs have an edge.

To explain this further a ULIP has high first –year charges towards acquisition

(including agents commissions).

As a result, they find it difficult to outperform mutual funds in the five years.

But in the long term, ULIP managers have advantages over mutual funds managers.

Since policyholder premium come at regular intervals, investments can be planned

out more evenly.

Mutual fund managers cannot take a similar long term view because they have

bulk investors who can move money in and out of schemes at short notice.

Which is better, unit-linked or ‘Traditional plan’?



The two strong arguments in favor of unit-linked plans are that –the investor

knows exactly what is happening to his money and two ,it allows the investor to

choose the assets into which he wants his funds invested.

A traditional ‘with profits,’ on the other hands, is a black box and a policyholder

has little knowledge of what is happening. An investor in a ULIP knows how much

he is paying towards mortality, management and administration charges.

He also knows where the insurance company has invested the money. The investor

gets exactly the same returns that the fund earns, but he also bears the investment

risk. The transparency makes the product more competitive .So if you are willing to

bare the investment risk in order to generate a higher return on your retirement funds,

ULIPs are for you.

Traditional ‘with profits’ policies too invest in the market and generate the same

Returns prevailing in the marker. But here the insurance company evens out returns

to ensure that policyholders do not lose money in a bad year. In that sense they are

safer. ULIPs also offer flexibility. For instance, a policyholder can ask the insurance

Company to liquidate units in his account to meet the mortality charges if he is unable

to pay any premium installment.

This eats into his savings, but ensures that the policy will continue to cover his

life.

Why do insurers prefer ULIPs?



Insurers love ULIPs for several reasons. Most important of all, insurers can

sell these policies with less capital of their own than what would be required if they

sold traditional policies.

In traditional ‘with profits’ policies, the insurance company bears the

investment risk to the extent of the assured amount .In ULIPs, the policyholder bears

most of the investment risk.

Since ULIPs are devised to mobilize savings, they give insurance companies an

opportunity to get a large chunk of the asset management business, which has been

traditionally dominated by mutual funds.

Are unit-linked insurance plans good?

Most insurers in the year 2004 have started offering at least a few unit-linked

plans . Unit-linked life insurance products are those where the benefits are expressed

in terms of number of units and unit price. They can be viewed as a combination of

insurance and mutual funds.

The number of units that a customer would get would depend on the unit price

when he pays his premium. The daily unit price is based on the market value of the

underlying assets (equities, bonds, government securities, etc) and computed from the

net asset value.

The advantage of unit –linked plans is that they arte simple, clear, and easy to

understand. Being transparent the policyholder gets the entire upside on the

performance of his fund .Besides all the advantages they offer to the customers, unit-

linked plans also lead to an efficient utilization of capital.



Unit –linked products are exempted from tax and they provide life insurance.

Investor welcome these products as they provide capital appreciation even as the

yields on government securities have fallen below 6 percent , which has made the

insurers slash payouts.

According to the IRDA, a company offering unit-linked plans must give the

investor an option to choose among debt, balanced and equity funds. If you opt for a

unit-linked endowment policy, you can choose to invest your premiums in debt,

balanced or equity plans.

If you choose a debt plan, the majority of your premiums will get invested in

debt securities like gilts and bonds. If you choose equity, then a major portion of your

premiums will be invested in the equity market. The plan you choose would depend

on your risk profile and your investment needs.

The ideal time to buy a unit-linked plan is when one can expect long term

growth ahead . This is especially so if one also believes that current market values

(stock valuations ) are relatively low.

So if you are opting for a plan that invests primarily in equity , the buzzing market

could lead to windfall returns. However , should the buzz die down , investors could be

left stung.

If one invests in a unit-linked pension plan early on , say when one is 25, one

can afford to take the risk associated with equities , at least in the plan’s initial stages.

However ,as one approaches retirement the quantum of returns should be subordinated to

capital preservation. At this stage , investing in plan that has an equity tilt may not be a

good idea.



Considering that unit-linked plans are relatively new launches, their short history

does not permit an assessment of how they will perform in different phases of the stock

market. Even if one views insurance as a long term commitment, investments based on

performance over such a short time span may not be appropriate.

Allianz Bajaj launches its first unit linked policy.

Allianz Bajaj Life Insurance Company has launched Unit Gain , the company’s

first unit linked policy. Unit Gain allows customers to combine the benefits of life

insurance with higher investment returns from equity and debt markets.

Unit Gain was launched with a choice of four funds to the customer- equity,

debt, balanced and cash funds. The cash funds comes with the guarantee that the value of

units in the fund will not go down.

Unit Gain is one of the most flexible unit linked plans in the market, and allows the

customer to change the sum assured during the term of the policy to match their changing

life insurance requirements. Also the plan offers a premium holiday feature, where the

policy is kept in-force even when premiums are not paid as long as there are enough units

to cover charges.

The policy provides customers flexibility in paying additional premium through

single premium top-ups, as well as in increasing the level of regular premium in later

years (along with increase in income). In addition, the facility of cash withdrawals allows

the Bajaj Allianz ULIP’S products.

Bajaj Allianz ULIP’S products:



1) Unit Gain Regular Premium:

The Bajaj Allianz unit comes with a host of features to allow you to have the best

of all words –protection and investment with flexibility like never before.

Some of the features of this plan are:

Guaranteed death benefits.

Choice of 6 investment funds with flexible investment management you can change

funds at any time.

Attractive investment alternative to fixed investment securities.

Provision for full/partial withdrawal any time after 3 full years premiums are paid.

Unmatched flexibility –to match tour charging needs.

How does the plan work:

The premiums paid are invested in fund/funds of your choice (depending on the

allocation rate) &unit are allocated depending on the price of units for the fund/funds.

The value of your policy is the value of units that you hold in the fund/funds. The

insurance cover charges are deducted through monthly cancellation of units . The funds

administration charge and fund management charge are priced in the unit value.

Minimum sum assured= 5 times the annual premium.

Maximum sum assured =y times the annual premium where y will be as per the

following table.

Age 0-30 31-35 36-40 41-45 46-55 56-60



Group

Y 125 105 75 55 30 20

Important details of “Bajaj allianz unit gain RP” plan

Minimum age at entry: 0(risk commences at age 7, and ceases after age 70)

Maximum age at entry :60

The minimum age at entry for all additional benefits is 18 years.

The maximum age at entry for all additional benefits is 50 years.

All additional benefits are available till age 65.

2) Unit Gain Single Premium:

The bajaj allianz unit gain SP comes with a host of features to allow you to

have the best of all worlds- protection and investment with flexibility like never

before.

Some of the feature of this plan are

Convenient single premium payment, with option to pay top-ups later.

100% of the single premium/top ups are allocated.

Guaranteed death benefits.

Choice of 6 investment funds with flexible investment management you can with

between funds at any time .

Attractive investment alternative to fixed interest securities.

Provision for full/partial withdrawal any time after the single premium is paid.

Unmatched flexibility – to match your changing needs.

How does the plan works?



100% of the single premium is invested in a fund/funds. The value of your choice

and unit are allocated depending on the price of units for the fund/funds the value of your

policy is the total value of units that you hold in the fund/funds . The insurance cover

changes are deducted through monthly cancellation of units. The funds administration

charge and fund management charge are pried in the unit value.

• Minimum sum assured =1.01 times the single premium.

• Maximum sum assures =y times the single premium where y will be as per the

following table.

Age

Group

0-30 31-35 36-40 41-45 46-60 61-67

Y 45 40 25 15 5 1.01

Important details of the “Bajaj allianz unit gain SP” plan:-

• Minimum age at entry :0(risk commences at age 7, and ceases after age 70)

• Maximum age at entry :67

• Minimum single premium :Rs .25000.

• Minimum top-up :Rs 10000.

3) Unit Gain Plus Regular Plan:



The Bajaj allianz unit gain plus RP comes with a host of features to allow you

to have the best of all words – protection and investment with flexibility like never

before.

Some of the key feature of this plan are

Guaranteed death benefit.

Choice of six investment funds with flexible investment management you can

change funds at any time .

Attractive investment alternative to fixed –interest securities.

Provision for full/partial withdrawals any time after 3 full years premium are paid

Unmatched flexibility –to match changing needs.

How does the plan work?

The premium paid are invested in a fund or funds of your choice (depending

on the allocation rate) and units are allocated depending on the price of the units for

the fund or funds.

The insurance cover and administration charges are deducted through cancellation of

units. The fund management charge is prices in the unit value.

Minimum sum assured = 5 times the annual premium.

Maximum sum assured = y times the annual premium where y will be as per

the following table.

Age

Group

0-30 31-35 36-40 41-45 46-55 56-60



Y 125 90 60 40 20 15

Important details of the “Bajaj Allianz Unit Gain Plus RP” plan

Minimum age at entry :0(Risk commences at age 7 and ceases after age 70)


Minimum age at entry for all additional benefits is 18 years.

The maximum age at entry for additional benefits is 50 years.

All additional benefits are available till age 65.

4) Unit Gain Plus Single Premium Plan:

The bajaj allianz unit gain plus Sp comes with a host of feature to allow you to

have the best of all words – protection and investment with flexibility like never before.

Some of the key feature of this plan are

Convenient single premium payment, with option to pay top-ups later.

98% of the single or top-ups are allocated.

Guaranteed death benefit.

Choice of five investment funds with flexible investment management you can

change funds at any time.

Attractive investment alternative to fixed –interest securities.

Unmatched flexibility – to match your changing needs.

Provision for full or partial withdrawal any time after the single premium is paid.

How does the plan works ?



98% of the single premium is invested in a funds or funds of your choice and

units allocated depending on the price of units for the fund or funds . The value of

your policy is the total value of units that you hold in the fund or funds. The insurance

cover and fund administration charges are deducted through cancellation of units. The

funds management charge is priced in the unit value.

Minimum assured =1.01 times the single premium.

Maximum sum assured = y times the single premium where y will be as the

following table.

Age

Group

0-30 31-35 36-40 41-45 46-60 61-69

Y 45 35 20 10 5 1.5

Important details of the “Bajaj Allianz Unit Gain Plus SP” Plan

Minimum age at entry :0(Risk commence at age 7,and ceases after age 70)


Minimum single premium :Rs. 25000.

Minimum top-up :Rs .5000.

5)Unit Gain Life Pension plan:



With Bajaj Allianz ,you can take control of your future and ensure a retirement

you can look forward to. This plan has been be signed to take of your retirement and

insurance needs, there by providing you with a comprehensive solution for life time.

There are two packages choose from:

1. Unit gain life pension regular premium.

2. Unit gain life pension single premium.

Defending on the amount of premium you want to pay, you choose sum assure as per the

condition given below:

1. Minimum sum assured =5 times annual/1.01 times single premium.

2. maximum sum assured =y times the annual/single premium where y will be as per

the following table:

How does the Bajaj Allianz Unit Gain Life Pension Plan Work?

The premium paid are invested in funds of your choice (depending on the

allocation rate) and unit are allocated depending on the price of unit for the fund or funds.

Age group 18-30 31-35 36-40 41-45 46-55 55-60 61-65

Y for

regular

premium

125 90 60 40 20 15 10

Y for

regular

premium

45 35 20 10 5 5 1.5



The value of your policy is the total value of units that hold in the fund or funds. The

insurance cover and administration charges are deducted through cancellation of units.

The fund management charge is priced in the unit value.

Important details of the “Bajaj Allianz Unit Gain Life Pension” Plan:

Minimum Maximum

Age of entry 18 65

Deferment period 5 40

Age at vesting 45 70

6) Unit Gain Easy Pension Plan:

With bajaj allianz , you can take control of your future and ensure a retirement you

can look for word to. There are two packages to choose form:

1. Unit gain easy pension regular premium.

2. Unit gain easy pension single premium.

How does the Bajaj Allianz Unit Gain Easy Pension Plan works?

The premium paid are invested in a fund/funds of your choice (depending on the

allocation rate) and units are allocated depending on the price of units for fund/funds. The

value of your policy is the total value of units that you hold in the fund/funds. The

administration are deducted through cancellation of units. The fund management is priced

in the unit’s value.

Important details of “Bajaj Allianz Unit Gain Life Pension” Plan:

Minimum Maximum

Age of entry 18 65



Deferment period 5 40

Age at vesting 45 70

COMPANY CHART

Bajaj Allianz Life InsuranceBajaj Allianz Life Insurance

Agency Channel Agency Channel

BancassuranceBancassurance Group and Alternate

Channel

Group and AlternateChannel

BranchesBranches

SatelliteSatellite

SatelliteSatellite

SatelliteSatellite

Standard Chartered BankStandard Chartered Bank

Syndicate BankSyndicate Bank

Centurion BankCenturion Bank

Cosmos BankCosmos Bank

Jankalyan Sahakari BankJankalyan Sahakari Bank

Jijamata Sahakari Co-opBank

Jijamata Sahakari Co-opBank

Group Employee BenefGroup Employee Ben

Corporate AgencyCorporate Agency

FranchiseeFranchisee

BrokersBrokers



2.ORGANISATION CHART

Bajaj Allianz Life Insurance Company

ORGANISATION CHART OF THE BRANCH

BAJAJ ALLIANZ LIFE INSURANCEBAJAJ ALLIANZ LIFE INSURANCE

CHANNELCHANNEL

INSURANCE CONSULTATIVEINSURANCE CONSULTATIVE

ZONAL SENIOR MANAGER ZONAL SENIOR MANAGER

BRANCHBRANCH

SALES TAAM MANAGER SALES TAAM MANAGER

SATELLITE BRANCHSATELLITE BRANCH

BANC ASSURANCEBANC ASSURANCE CORPORATECORPORATE



1.What is your ratio of saving of the total income?

a) More then 60% b) 60% - 50%

c) 50% - 25% d) Less then 25%

> 60% 9%

60%-50% 13%50%-25% 31%

<25% 47%

Total 100



9%13%

31%

47%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%50%

CUSTOMER

RESPONSE

> 60% 60%-50% 50%-25% <25%

SAVINGS

Series1

Interpretation:

From the above graph it is clear that 9% of people saving more than

60%, 13% of people saving less than 60%, 31% of people saving less than 50%, 47% of

people saving less than 25%.

2.Your saving consist of.

a) Post office b) Bank F . D

c) Shares d) Land / Building

e) Life insurance f) Gold

g) Mutual fund h) All the above

Post Office 10%

Bank FD 20%

Shares 8%

Land & Building 13%

Life Insurance 23%

Gold 5%



Mutual Fund 8%

All the above 13%

Total 100

10%

20%

8%

13%

23%

5%

8%

13%

0%

5%

10%

15%

20%

25%

CUSTOMER

RESPONSE

Post

Office

Shares Life

Insurance

Mutual

Fund

SAVING CONSIST

Series1

Interpretation:

From the above graph it is clear that, 10% of people saving in post office, 20% of

people savings in Bank FD, 8% of people savings in shares, 13% of people saving

consist land and building, 23% of people savings in Life Insurance, 5% of people saving

consist in gold,8% of people saving in Mutual Fund, 13% of people saving consist all the

above option.

3. What factor consist while making the policy.

a) Returns b) Safety



c) Liquidity d) Risk cover

e) All the above

Returns 20%safety 29%

Liquidity 8%

Risk cover 19%

All the above 24%

Total 100

20%

29%

8%

19%

24%

0%

5%

10%

15%

20%

25%30%

CUSTOMER

RESPONSE

Returns safety Liquidity Risk

cover

All the

above

FACTOR CONSIST WHILE MAKING POLICY

Series1

Interpretation:

From the above graph it is clear that 20% of people wants returns, 29% of people

wants safety,8% of people wants liquidity, 19% of people wants risk cover, 24% of

people wants all the above option.

4. Have you invested money in life insurance?

a) Yes b) No



Yes 75%

No 25%

Total 100

75%

25%

0%

10%

20%30%

40%

50%

60%

70%

80%

CUSTOMER

RESPONSE

Yes No

MONEY INVESTED IN LIFE INSURANCE

Series1

Interpretation:

From the above graph it is clear that 75% respondents invested their money in life

insurance, 25% respondents are not invested.

5. Are you aware of ULIP

a) Yes b) No (If no, skip to q no 11)

Yes 55%

No 45%



Total 100

AWARENESS OF ULIP

55%

45%

Yes

No

Interpretation:

Above graph 55% of respondents are aware of ULIP,45% of respondents are not aware of

ULIP.

6. In which company you have invested your money?

a) LIC b) Bajaj Allianz

c) ICICI d) Others .

LIC 42%

BAJAJ ALLIANZ 17%

ICICI 8%

OTHERS 9%

BLANK 24%TOTAL 100%



PEOPLE INVESTED THEIR MONEY IN

DIFFERENT COMPANIES

42%

17%

8%

9%

24%

LIC

BAJAJ ALLIANZ

ICICI

OTHERS

BLANK

Interpretation:

Above graph shows 42% respondents invested their money in LIC, 17% in Bajaj

Allianz,8% in ICICI prudential, 9% in others and 24% of respondents are not responded

well.

7. How do you come to know ULIP?

a) Friends b) Agents

c) Newspapers/Magazines d) Banks

e) Others .

Friends 17%

Agents 18%

Newspaper/magazines 15%

Banks 8%



Others 7%

Blank 35%

Total 100%

HOW PEOPLE KNOW THE ULIP'S

17%

18%

15%8%

7%

35%Friends

Agents

Newspaper/magzines

BanksOthers

Blank

Interpretation:

The above graph shows that 17% of respondents know the ULIPS through friends,18%

of respondents through Agents,15% of respondents through News paper and Magazines,

8% of respondents know through banks, 7% of respondents know through others and

35% of respondents are not respondents well.

8. Which plan you have taken?

a) Endowment b) Money Back



c) Term Plan d) ULIP

e) All the aboveEndowment 17%

Money Back 29%

Term Plan 16%

ULIP 8%

All the above 4%

BLANK 27%

Total 100%

17%

29%

16%

8%

4%

27%

0%

5%

10%

15%

20%

25%

30%

CUSTOMER

RESPONSE

Endowment Term Plan All the

above

RESPONDENT TAKEN DIFFERENT PLANS

Series1

Interpretation:

The above graph shows that 17% of respondents have taken Endowment

policy,29% of respondents have taken money back policy,16% of respondents have taken

term plan,8% of respondents have taken ULIP,4% of respondents have taken others, 27%

of respondents not taken.

9. Why you have chosen ULIP?

a) Higher Returns b) Liquidity



c) Life cover d) All the above

Higher returns 4%Life cover 1%

Liquidity 2%

All the above 2%

Blank 91%

Total 100%

4% 1% 2% 2%

91%

0%

20%

40%

60%

80%

100%

CUSTOMER

RESPONSE

Higher

returns

Life

cover

Liquidity All the

above

Blank

FACTOR CONSIST WHILE CHOOSING ULIP PLAN

Series1

Interpretation:

The above graph shows that 4% respondents wants Higher returns,1%

liquidity, 2% life cover, 2% all the above and 91% of respondents are not responded well.

10. What is the premium you are paying per annum?

a) 10000 b) 10000-25000

c) 25000-50000 d) 50000-100000

A 38%

B 17%



C 11%

D 3%

BLANK 31%

38%

17%

11%

3%

31%

0%

5%

10%

15%20%

25%

30%

35%

40%

CUSTOMER

RESPONSE

A B C D BLANK

PREMIUM PAYING PER ANNUM

Series1

Interpretation:

The above graph shows that the 38% of respondents paying premium per annum less than

10,000, 17% respondents paying per annum between 10,000- 25,000, 11% respondents

paying per annum between 25,000-50,000, 3% respondents paying per annum between

50,000-100,000, blank is 31%.

11.What will influence your Financial Planning?

a) Discussion with Family Member



b) Tax Consultant/ C. A

c) Insurance consultant /Agents

d) Finance Magazines.

e) Web site of insurance or Finance company.

f) Any other Specify .

Discussion with FM 47%

Tax consultant/CA 22%

IC /Agents 7%

Finance Magazine 14%

Websites 1%

Others 9%

Total 100%

FACTOR INFLUANCING FINANCIAL PLANNNING

47%

22%

7%

14%

1%9%

Discussion with FMTax consultant/CAIC /AgentsFinance MagizineWebsitsOthers

Interpretation:

The above graph factors influencing financial planning 47% influencing discussion

with family members, 22% tax consultant/CA, 7% Insurance Consultant/ Agents,14%

through finance magazines, 1% through web sites of insurance/ Finance

Company,9%through others.



12.In future are you interested investing money on ULIP?

a) Yes b) No

A 52%

B 48%

52%

48%

46%

48%

50%

52%

CUSTOMER

RESPONCE

A B

IN FUTURE PEOPLE WANT TO INVEST THEIR

MONEY ON ULIPs

Series1



Interpretation:

The above graph 52% respondents are interested investing money on ULIPs in future,

48% respondents are not interested to invest money in ULIPs.

13. If no why?

a) No Interest.

b) Lack of Advertisement.

c) Busy schedule.

d)Others .

A 23%

B 6%C 8%

D 12%

BLANK 51%



IN FUTURE PEOPLE DONT WANT TO INVEST

THEIR MONEY

23%

6%

8%

12%

51%

A

B

C

D

BLANK

Interpretation:

The above graph 23% of respondents are no interested, 6% lack of advertisement, 8%

busy schedule, 12% of respondent says others and 51% of respondents are not responded

well.

Findings

Through all this survey and analyzing what we found is that

In the survey it was found that 47% of the respondents are saving less

than 25% income this indicates that nearly half of respondent in hubli

city are coming under middle class.

As our research we found that 55% of people are aware of ULIP’s and

45% of respondent are not aware of ULIP’s so company has to give

more advertisement about the ULIP’s .



Through Friends 17% of people are come to know about the ULIP’s

,through Agents 18%, 15% through Newspaper / Magazine , 8%

through Banks, Others 7% of respondent are come to know 35% of

people are not aware of ULIP’s so compare to all agents are playing

important role & company has to increase more number of agents.

52% of respondent are interested to invest money in ULIP’s and 48% of

respondent are not interested to invest money in ULIP’s so 52% is a

potential customer so company can utilize that opportunity.

42% of respondent are invested their money in LIC, 17% in Bajaj

Allianz, 8% in ICICI Prudential , 9% in others and 24% of people not at

invested.

23% of respondent are not interested to invest their money in ULIPs ,

6% lack of advertisement, 8% busy schedule,12% of respondents said

others and blank 51%.

Conclusion :

From the over all project and market survey it is clear that Bajaj Allianz Life Insurance

Co .Ltd is doing well but most of the people are not aware of ULIP’s .

But in the present threading competition they should do more then the present efforts in

the following fields.

1. Advertising campaign.

2. Trade promotion activity.



Recommendations

Most of the respondents are not aware of Unit Linked

Insurance Plan so

company has to give more advertisement about the ULIP’s.

45% of respondents are not aware, which should be increased

by different medias like TV, Magazines, & News Paper.

The company has to provide proper training or marketing skills to

improve the marketability of products.

Complete information should be provided regularly to the advisor as well as to the

investor.

Bajaj Allianz Co should come out with more and more innovative schemes to

meet the requirement of every investor

Company has to conduct meeting of their agents periodically to access the results

and progress of the agents efforts.

QUESTIONNAIRE

Dear Sir / Madam,

1.What is your ratio of saving of the total income?

a) More then 60% b) 60% - 50%

c) 50% - 25% d) Less then 25%

2.Your saving consist of.



a) Post office b) Bank F . D

c) Shares d) Land / Building

e) Life insurance f) Gold

g) Mutual fund h)All the above

3. What factor consist while making the policy.

a) Returns b) Safety

c) Liquidity d) Risk cover

e) All the above

4. Have you invested money in life insurance?

a) Yes b) No

5. Are you aware of ULIP

a) Yes b) No If no, skip goto Q no 11)

6. In which company you have invested your money?

a) LIC b) Bajaj Allianz [

c) ICICI d) Others .

7. How do you come to know ULIP?

a) Friends b) Agents

c) Newspapers/Magazines d) Banks

e) Others .

8. Which plan you have taken?

a) Endowment b) Money Back

c) Term Plan d) ULIP



e) Any others, Specify .

9. Why you have chosen ULIP?

a) Higher Returns b) Liquidity

c) Life cover d)All the above

10. What is the premium you are paying per annum?

a) 10000 b) 10000-25000

c) 25000-50000 d) 50000-100000

11. What will influence your Financial Planning?

a) Discussion with Family Member

b) Tax Consultant/ C. A

c) Insurance consultant /Agents

d) Finance Magazines.

e) Web site of insurance or Finance company.

f) Any other Specify .

12.In future are you interested investing money on ULIP?

a) Yes b) No

13. If no why?

a) No Interest.

b) Lack of Advertisement.

c) Busy schedule.

d) Others .



BIBLIOGRAPHY

Marketing Research : Hawkins & Tull.

Websites : www.google.com

www.bajajallianz.co.in

Materials : Journals & Magazines

http://www.google.com/

http://www.bajajallianz.co.in/

http://www.google.com/

http://www.bajajallianz.co.in/

customerawarenessbajajallianz.doc

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