Life Insurance Industry in India

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LIFE INSURANCE INDUSTRY OF INDIA

PROJECT REPORT ON LIFE INSURANCE INDUSTRY OF INDIA

A COMPARATIVE ANALYSIS OF MUTUAL FUNDS AND UNIT LINKED INSURANCE PLANS.ANALYSE INSURANCE AS AN INVESTMENTOPTION/AVENUE. & RISK RETURN PROFILE OF UNIT LINKED INSURANCE PLANS (ULIP) AND MUTUAL FUNDS.

Submitted to, Submitted by, Prof .B V RAMANA Sarthak Mohanty Faculty, Project Trainee, IBS --HYDERABAD ICICI Prudential

Acknowledgements:The Summer Internship Program (SIP) undertaken by me at Priority Circle branch of ICICI Prudential Life Insurance Company Ltd at, Hyderabad was an extremely rewarding experience for me in terms of learning and industry exposure. I would like to extend my deep gratitude towards the Head of the organisation Mr. T.S.V.N Rajesh, Branch manager, ICICI Prudential –Priority Circle -Hyderabad who always motivated me and helped me during the internship. I would like to extend my deepest gratitude to my company guide Mr. Dilip Raj Jain, manager Sales–priority circle who gave his valuable time & guidance in every step of my project. He was like a mentor for me during these 14 weeks Internship program giving me valuable inputs & much need sales exposure. I would like to thank my faculty guide Prof. B V Ramana who gave his valuable inputs in preparation of the questionnaire for market research survey and preparation of the report .He gave valuable time from this busy schedule to help me in the analysis & interpretation of my findings. I would like to thank the associates of the operations department with ICICI Prudential Life Insurance Company Ltd, who constantly gave there suggestions & shared valuable insights in making my report effectively. I would also like to thank my colleagues who were working with me during the internship in ICICI Prudential Life Insurance Company Ltd for there corporation & support during the entire period. Sarthak Mohanty date-16/05/2007

Place-Hyderabad

Certificate

This is to certify that the project titled “A comparative analysis of mutual funds and unit linked insurance plans .Analyse insurance as an investment option/avenue. Calculate risk and return profile of unit linked insurance plans (ULIP) and mutual funds” at ICICI Prudential Life Insurance Company Ltd, is a bonafide work done by Mr. SARTHAK MOHANTY (enrollment no-06bs3138) for the Summer Internship Project.

Mr. Dilip Raj Jain Prof. B V Ramana Company Guide Faculty Guide

Declaration
I here by declare the project work titled “A comparative analysis of mutual funds and unit linked insurance plans .Analyse insurance as an investment option/avenue. Calculate risk and return profile of unit linked insurance plans (ULIP) and mutual funds” at ICICI Prudential has been developed by me, under the guidance & supervision of Mr. Dilip Raj Jain , Manager Sales ,ICICI Prudential Life Insurance Company ,priority circle branch, Hyderabad. The work done here is original & has not been previously submitted, in part or full, by any other person. DateSarthak Mohanty Place -

CONTENTS Page
1).Abstract……………………………………………⊀?………………………………….7

2).Objectives of the Project……………………………………………………… ………8 3). Methodology Adopted …………………………………………………………… ⊀?...9 4).Limitations of the study……………………………………………………… ? ….…10 5).Introduction ……………………………………………………………⊀?… …...…...11 6) Global insurance scenario…………………………………………………… ?….….20

7) Ten reasons why people buy insurance………………………………………… …....24 8). Analysis of marketing strategy of insurance sector in India…………………….…26 9).Company profile……………………………………………………… …………….… 32 10) Unit Linked Insurance Plans…………………………………………………….…. .40 11) Comparison between various insurance products across industry……………. …..43 12) Mutual funds……………………………………………………… ?…………….…53 13). Comparative Analysis…………………….………………………………⊀?……… 57 14) Risk and Return analysis of ULIP & Mutual funds……………………………….67 15) Descriptive analysis of questionnaire on Brand Value survey…………………….86 16). Statistical analysis of data collected through...
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