This is to certify that the project work done on Consumer’s attitude towards Investment is a bonafide work carried out by Mr. Sandeep Singh Bhati under my supervision and guidance. The project report is submitted towards the partial fulfillment of 2 – year, full time Post Graduate Diploma in Management. This work has not been submitted anywhere else for any other degree/diploma. The original work was carried during 15th May to 15 June, 2010 in LIC OF INDIA, Balotra (Rajasthan)
Name & Sign of Faculty
Prof. Nupur Mishra
I am hearty grateful to Mrs. Renu Luthra (director). She have always been an invaluable source of inspiration had work, sincerity and dedication. It gives me immense pleasure in submitting this project on “Consumer’s attitude towards Investment”. I would like to express my sincere ineptness to my Project Guide Prof. Nupur Mishra for her constant guidance and valuable support during the project work. Encouragement and excellent guidance in the successful completion of the project work. And of course nothing could have come true without the support of my family, friends and all the classmates for their constant encouragement and useful tips throughout my project. I will always grateful to them.
SANDEEEP SINGH BHATI
I, ………………………, Roll no…., student of PGDM of Galgotias Business School,,Greater Noida , hereby declare that the project report on “Consumer Attitude towards Investment”at Life Corporation Of India” is an original and authenticated work done by me. I further declare that it has not been submitted else where by any other person in any of the institutes for the award of any degree or diploma.
Name of the student
Sandeep Singh Bhati
Date – 18-06-10
Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a large, possibly devastating loss. The insured receives a contract called the insurance policy which details the conditions and circumstances under which the insured will be compensated. Principle of Insurance
Insurance involves pooling funds from many insured entities in order to pay for relatively uncommon but severely devastating losses which can occur to these entities. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an insurable risk. Insurance is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible future losses.
Types of insurance
Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as "perils". An insurance policy will set out in detail which perils are covered by the policy and which is not. 1. Auto Insurance
2. Home Insurance
3. Health Insurance
4. Life Insurance
5. Accident, Sickness and Unemployment Insurance
6. Credit Insurance
7. Marine Insurance