Description
Reliance Life Insurance Company (RLIC) is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry.
`
A Reliance Capital company
Flow of the Discussion
A Reliance Capital company
A Reliance Capital company
Insurance Industry
Meaning & How its work? Size of Insurance Industry Background of Insurance Industry Present Scenario of Insurance Industry Global Scenario of Insurance Sector Industry Structure
A Reliance Capital company
Meaning & How its work?
"Insurance is a contract between two parties whereby one party called insurer Undertakes in exchange for a fixed sum called premiums, to pay the other party called Insured a fixed amount of money on the happening of a certain event."
A Reliance Capital company
Insurance Industry
Meaning & How its work? Background of Insurance Industry Size of Insurance Industry Present Scenario of Insurance Industry Global Scenario of Insurance Sector Industry Structure
A Reliance Capital company
Background of Insurance Industry
Pre L.I.C.
• 1818 : Oriental Life Ins. Co. Ltd.(Kolkata) • N Number Unorganized Insurance Companies
L.I.C.
• 1950 : Life Insurance Corporation of India(245) • 1956 : LICI was nationalized & got Monopoly.
Open Insurance Market
• 1999 : IRDA formed by an Act of Parliament • 2000 : Other LICos & FDIs got permitted.
A Reliance Capital company
Insurance Industry
Meaning & How its work? Background of Insurance Industry Size of Insurance Industry Present Scenario of Insurance Industry Industry Structure I.R.D.A.
A Reliance Capital company
About
Type - Private Limited company Industry - Insurance industry Establishment - 2002 Headquarter - Navi Mumbai C.E.O. - Mr. P. Nandagopal Part of Reliance Capital India
A Reliance Capital company
About Company ( Con’t )
Corporate Objective :
“to become one of the top private insurance companies in India and to become a cornerstone of RLI integrated financial services business in India”
Mission :
“To set the standard in helping our customers manage their financial future”.
A Reliance Capital company
Strictly for internal Circulation only
A Reliance Capital company
Sales Target
Target of 1.50 Lakh in 60 days
Reliance Super InvestAssure Plan
Get More Than You Can Ask For!
Strictly for internal Circulation only Strictly For Internal Communication Only
A Reliance Capital company
Reliance Super InvestAssure Plan
Get More Than You Can Ask For!
Strictly For Internal Communication Only A Reliance Capital company
Rewards in form of Guaranteed Additions of upto 250% of annual premium amount Tax saving u/s 80 C, 80D & 10 (10D) Wide Investment Options with over 7 funds
RELIANCE SUPER INVESTASSURE PLAN
Liquidity through Partial Withdrawals Protection with Life Cover, additional protection with Accident & Health Riders
Strictly For Internal Communication only
Unmatched flexibility on your investments
A Reliance Capital company
Tax Benefits
As per Income Tax Act, 1961premiums are eligible for tax deduction as under,
Premiums paid in respect of basic policy – u/s 80 C of the Act. Premium paid under Reliance Term Life Rider – u/s 80C of the Act Premium paid under the Reliance Accident Benefit Rider – u/s 80 C of the Act Premium paid under Reliance Major Surgical Benefit Rider and Reliance Critical Conditions (25) Riders – u/s 80D of the Act.
The benefits under this plan and riders are tax exempt u/s 10 (10D) of the Act. Partial or Total Withdrawal under the plan is exempt u/s 10 10(D) of the Act.
Strictly For Internal Communication only
A Reliance Capital company
Choosing the Sum Assured
Minimum Sum Assured - 5 times of the Annualized Premium Maximum Sum Assured - As per the Table
Age at entry (last birthday) Maximum Sum Assured
0 to 40 41 to 45 46 to 50 51 to 60
20 times of Annualized Premium 15 times of Annualized Premium 10 times of Annualized Premium 5 times of Annualized Premium
Strictly For Internal Communication only
A Reliance Capital company
Product Limits
Basic Plan Age at Entry Age at Maturity Policy Term
Minimum 30 days 15 years 15 years
Maximum 60 years 75 years 30 years
Strictly For Internal Communication only
A Reliance Capital company
Premium Modes & Limits
Mode
Yearly Half Yearly Quarterly Monthly
Minimum
Rs. 5,000/Rs. 2,500/-
Maximum
No Limit Rs. 1,250/Rs. 500/No Limit Top Up Rs. 2,500/(Subject to Max 25% of Total Premium Paid)
Strictly For Internal Communication only
A Reliance Capital company
Sales Pitch
To give small introduction about myself and about Reliance Life Insurance. Try to communicate with people in there language. According to their need I show them product. Give information about feature of the product.
Strictly for internal Circulation only Strictly For Internal Communication Only
A Reliance Capital company
Project A of
“Comparative analysis of insurance Product with different life insurance companies.”
A Reliance Capital company
Objective
Making Comparative analysis between –
Strictly for internal Circulation only
A Reliance Capital company
Objective ( Con’t )
Finding out the features and benefits of these plans To determine customer preference towards private insurance companies and public insurance companies.
A Reliance Capital company
Project Methodology
Sources
Primary Data Collection Prepare a questionnaire for the market survey Secondary Data Collection
Secondary survey included of consulting books, magazines, journals, internet and also taking reference from Varanasi Branch.
Strictly for internal Circulation only
A Reliance Capital company
Methodology
Sampling Area - Varanasi. Sample Design
Target Population Age Group - 25 to 40 Age Group - Beyond 40
Sampling Technique
Simple random Sampling
Sample Size
100 People in Varanasi
Age Group Beyond 40 25 - 40 Strictly for internal Circulation only
Sample Size 50 50
A Reliance Capital company
Finding
major portion of customers go for public insurance companies People Not so much believe in Private Companies people with a need of more and better returns are opting for private companies
Strictly for internal Circulation only
A Reliance Capital company
Limitations
Not very Large Sample Convincing people to invest in Insurance products is challenging. The research is confined to Varanasi and does not necessarily shows a pattern applicable to other parts of the country.
Strictly for internal Circulation only
A Reliance Capital company
Conclusion & Suggestion
1.
2.
Awareness of Private Insurance Companies Most of the People don’t know about Different type of policy.
Strictly for internal Circulation only
A Reliance Capital company
Project B
“PERCEPTION STUDY ON MONEY BACK POLICY” ================================= “COMPARISON STUDY ON PRODUCT OF RELIANCE LIFE INSURANCE WITH OTHER PRIVATE INSURANCE COMPANY” Strictly for internal Circulation only
A Reliance Capital company
PERCEPTION STUDY ON MONEY BACK POLICY” Introduction Methodology Finding Result
Strictly for internal Circulation only
A Reliance Capital company
“COMPARISON STUDY ON PRODUCT OF RELIANCE LIFE INSURANCE WITH OTHER PRIVATE INSURANCE COMPANY”
Introduction Finding Result
Strictly for internal Circulation only
A Reliance Capital company
Strictly for internal Circulation only
A Reliance Capital company
doc_624742391.pdf
Reliance Life Insurance Company (RLIC) is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry.
`
A Reliance Capital company
Flow of the Discussion
A Reliance Capital company
A Reliance Capital company
Insurance Industry
Meaning & How its work? Size of Insurance Industry Background of Insurance Industry Present Scenario of Insurance Industry Global Scenario of Insurance Sector Industry Structure
A Reliance Capital company
Meaning & How its work?
"Insurance is a contract between two parties whereby one party called insurer Undertakes in exchange for a fixed sum called premiums, to pay the other party called Insured a fixed amount of money on the happening of a certain event."
A Reliance Capital company
Insurance Industry
Meaning & How its work? Background of Insurance Industry Size of Insurance Industry Present Scenario of Insurance Industry Global Scenario of Insurance Sector Industry Structure
A Reliance Capital company
Background of Insurance Industry
Pre L.I.C.
• 1818 : Oriental Life Ins. Co. Ltd.(Kolkata) • N Number Unorganized Insurance Companies
L.I.C.
• 1950 : Life Insurance Corporation of India(245) • 1956 : LICI was nationalized & got Monopoly.
Open Insurance Market
• 1999 : IRDA formed by an Act of Parliament • 2000 : Other LICos & FDIs got permitted.
A Reliance Capital company
Insurance Industry
Meaning & How its work? Background of Insurance Industry Size of Insurance Industry Present Scenario of Insurance Industry Industry Structure I.R.D.A.
A Reliance Capital company
About
Type - Private Limited company Industry - Insurance industry Establishment - 2002 Headquarter - Navi Mumbai C.E.O. - Mr. P. Nandagopal Part of Reliance Capital India
A Reliance Capital company
About Company ( Con’t )
Corporate Objective :
“to become one of the top private insurance companies in India and to become a cornerstone of RLI integrated financial services business in India”
Mission :
“To set the standard in helping our customers manage their financial future”.
A Reliance Capital company
Strictly for internal Circulation only
A Reliance Capital company
Sales Target
Target of 1.50 Lakh in 60 days
Reliance Super InvestAssure Plan
Get More Than You Can Ask For!
Strictly for internal Circulation only Strictly For Internal Communication Only
A Reliance Capital company
Reliance Super InvestAssure Plan
Get More Than You Can Ask For!
Strictly For Internal Communication Only A Reliance Capital company
Rewards in form of Guaranteed Additions of upto 250% of annual premium amount Tax saving u/s 80 C, 80D & 10 (10D) Wide Investment Options with over 7 funds
RELIANCE SUPER INVESTASSURE PLAN
Liquidity through Partial Withdrawals Protection with Life Cover, additional protection with Accident & Health Riders
Strictly For Internal Communication only
Unmatched flexibility on your investments
A Reliance Capital company
Tax Benefits
As per Income Tax Act, 1961premiums are eligible for tax deduction as under,
Premiums paid in respect of basic policy – u/s 80 C of the Act. Premium paid under Reliance Term Life Rider – u/s 80C of the Act Premium paid under the Reliance Accident Benefit Rider – u/s 80 C of the Act Premium paid under Reliance Major Surgical Benefit Rider and Reliance Critical Conditions (25) Riders – u/s 80D of the Act.
The benefits under this plan and riders are tax exempt u/s 10 (10D) of the Act. Partial or Total Withdrawal under the plan is exempt u/s 10 10(D) of the Act.
Strictly For Internal Communication only
A Reliance Capital company
Choosing the Sum Assured
Minimum Sum Assured - 5 times of the Annualized Premium Maximum Sum Assured - As per the Table
Age at entry (last birthday) Maximum Sum Assured
0 to 40 41 to 45 46 to 50 51 to 60
20 times of Annualized Premium 15 times of Annualized Premium 10 times of Annualized Premium 5 times of Annualized Premium
Strictly For Internal Communication only
A Reliance Capital company
Product Limits
Basic Plan Age at Entry Age at Maturity Policy Term
Minimum 30 days 15 years 15 years
Maximum 60 years 75 years 30 years
Strictly For Internal Communication only
A Reliance Capital company
Premium Modes & Limits
Mode
Yearly Half Yearly Quarterly Monthly
Minimum
Rs. 5,000/Rs. 2,500/-
Maximum
No Limit Rs. 1,250/Rs. 500/No Limit Top Up Rs. 2,500/(Subject to Max 25% of Total Premium Paid)
Strictly For Internal Communication only
A Reliance Capital company
Sales Pitch
To give small introduction about myself and about Reliance Life Insurance. Try to communicate with people in there language. According to their need I show them product. Give information about feature of the product.
Strictly for internal Circulation only Strictly For Internal Communication Only
A Reliance Capital company
Project A of
“Comparative analysis of insurance Product with different life insurance companies.”
A Reliance Capital company
Objective
Making Comparative analysis between –
Strictly for internal Circulation only
A Reliance Capital company
Objective ( Con’t )
Finding out the features and benefits of these plans To determine customer preference towards private insurance companies and public insurance companies.
A Reliance Capital company
Project Methodology
Sources
Primary Data Collection Prepare a questionnaire for the market survey Secondary Data Collection
Secondary survey included of consulting books, magazines, journals, internet and also taking reference from Varanasi Branch.
Strictly for internal Circulation only
A Reliance Capital company
Methodology
Sampling Area - Varanasi. Sample Design
Target Population Age Group - 25 to 40 Age Group - Beyond 40
Sampling Technique
Simple random Sampling
Sample Size
100 People in Varanasi
Age Group Beyond 40 25 - 40 Strictly for internal Circulation only
Sample Size 50 50
A Reliance Capital company
Finding
major portion of customers go for public insurance companies People Not so much believe in Private Companies people with a need of more and better returns are opting for private companies
Strictly for internal Circulation only
A Reliance Capital company
Limitations
Not very Large Sample Convincing people to invest in Insurance products is challenging. The research is confined to Varanasi and does not necessarily shows a pattern applicable to other parts of the country.
Strictly for internal Circulation only
A Reliance Capital company
Conclusion & Suggestion
1.
2.
Awareness of Private Insurance Companies Most of the People don’t know about Different type of policy.
Strictly for internal Circulation only
A Reliance Capital company
Project B
“PERCEPTION STUDY ON MONEY BACK POLICY” ================================= “COMPARISON STUDY ON PRODUCT OF RELIANCE LIFE INSURANCE WITH OTHER PRIVATE INSURANCE COMPANY” Strictly for internal Circulation only
A Reliance Capital company
PERCEPTION STUDY ON MONEY BACK POLICY” Introduction Methodology Finding Result
Strictly for internal Circulation only
A Reliance Capital company
“COMPARISON STUDY ON PRODUCT OF RELIANCE LIFE INSURANCE WITH OTHER PRIVATE INSURANCE COMPANY”
Introduction Finding Result
Strictly for internal Circulation only
A Reliance Capital company
Strictly for internal Circulation only
A Reliance Capital company
doc_624742391.pdf