FINDINGS

42% respondents are having whole life plan against any other traditional plan because it offer
Life Insurance benefit after even maturity.
80.7% respondents are come to know about new policies of insurance company from
agents/advisors because the Advisors play a very active role in informing their existing
clients.
48.7% respondents give first preference to plan benefit while selecting the insurance
company because they are aware about their need and financial planning.
64.7% respondents said that they approached insurance companies/agents for buying
insurance. Its a shocking result which we have got but nevertheless the most of our
respondent were educated.
26% respondents are associated with the insurance company because they are getting good
return and the service from their respective Advisor / Agents.
31.3% respondents are prefer traditional plan against any other plan because of Risk Cover,
Low Risk as the plan is not linked to market and most important Guaranteed Return (Fixed
Income Return).
44% respondents are having 20 year tenure of their policy as per their financial need to
cover the Higher Education Cost or Marriage of their Childrens from the first maturity
which they received.
Sum assured of 56.7% respondents is fall between 1lakh-5 lakh as their proper financial
planning by their respective Advisors were not done properly or their income is low wherein
they cannot afford costly Traditional Plan in terms of paying premium for higher sum
assured.

50.7% respondents are paying their premium yearly so that their tax planning can be parallel
to their premium done it is the convenient mode for them to pay at a single go in a year and
which does not bother them every month or in other words it does not disturb their monthly
budget
53.3% respondents said that they are not aware about IRDA because IRDA does not do any
awareness camping for educating customer.
90.7 respondents are satisfied with their policybecause of due to the returns of the policy.
The plans were advised as per the need of the client after doing proper financial checkup.
88.7% respondents said that life insurance cover is important for all the reasons like tax
planning, risk coverage and securities. Because of saving income tax by investing into
insurance and most important contingency planning which help the client during rainy days.
70% respondents understanding insurance as protection, investment tool, and tax saving tool
All 100% respondents have an insurance policy.
48% respondents have policy of LIC company because of it is the oldest company after
independence and after nationalization of Life Insurance in 1956. It had a monopoly in the
Country for almost 47 years up-till year 2000 as the Insurance Industry as not opened for
Private Players.