Project Report Metlife Insurance

Unit linked insurance plan product of met life india insurance co.
ltd
Unit Linked Insurance Plan Product of Met Life India Insurance Co. Ltd.
A project Report Submitted for Partial Fulfillment of the Requirement for the Master of Business Administration
Submit
Smitavikranta Mohanty Reg. No :- 0906214014 Internal Guide Guide P.K.Tripathy (Faculty of Finance) Manager) External Prof. Mr. Debasis Mohanty (Sales
Konark Institute of Science & Technology Technopark, Jatni

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Unit linked insurance plan product of met life india insurance co.ltd
ACKNOWLEDGEMENT
I am thankful to MetLife India Insurance Co. Ltd. for providing me an opportunity to undertake project in their esteemed organization. I would like to give special thanks to Mr. Debasis Mohanty, Sales Manager at MetLife India Insurance Co. Ltd, BBSR, who helped me throughout the project. I am also thankful to Prof.P.K. Tripathy (faculty of finance) for providing me guidance in preparing my project report. Last but not the least I am also thankful to all the staff members of MetLife India Insurance Co. Ltd to make my project successful.
Smitavikranta Mohanty Master of Business Administration Reg. No:- 0906214014
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KONARK INSTITUTE OF SCIENCE & TECHNOLOGY
TO WHOM IT MAY CONCERN
This is to certify that Smitavikranta Mohanty, a student of Master of Business Administration has successfully carried out & submitted the project report under my guidance. His project report entitled Unit Linked insurance Plan Product of Met Life India Insurance Co. Ltd. which he has submitted his genuine & original work.
Prof. P.K. Tripathy (Faculty of Finance)
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DECLARATION
I do hereby declare that this Project Life Insurance Product of Met Life & Its comparison with others .is an original one done by me. This is submitted as a part of fulfillment the requirement for Master of Business Administration (MBA). It has not been submitted to any other institutions or published anywhere before.
Place : Date:
Signature
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CONTENTS
CHAPTER CHAPTER CHAPTER -1- Introduction -2- Research Design -3- Profile of The Industry & Ulip Products & ITS Comparison CHAPTER CHAPTER -4- Analysis & Interpretation -5Findings, Conclusion, Suggestion Bibliography & Annexure
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CHAPTER -1
INTRODUCTION
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INTRODUCTION TO THE STUDY Everyone is exposed to various risks. Future is very uncertain, but there is way to protect ones family and make ones childrens future safe. Life Insurance companies help us to ensure that our familys future is not just secure but also prosperous. Life Insurance is particularly important if you are the sole breadwinner for your family. The loss of you and your income could devastate your family. Life insurance will ensure that if anything happens to you, your loved ones will be able to manage financially. This study titled Unit Linked Insurance Plan Product of Metlife India Insurance Co. Ltd. enables the Life Insurance Companies to understand how consumers perception differs from person to person. How a consumer selects, organizes and interprets the service quality and the product quality of different Life Insurance Policies, offered by various Life Insurance Companies. WHAT IS INSURANCE ? It is a commonly acknowledged phenomenon that there are countless risks in every sphere of life for property, there are fire risk; for shipment of goods. There are perils of sea; for human life there are risk of death or disability; and so on .the chances of occurrences of the events causing losses are quite uncertain because these may or may not take place. Therefore, with this view in mind, people facing common risks come together and make their small contribution to the common fund. While it may not be possible to tell in advance, which person will suffer the losses, it is possible to work out how many persons on an average out of the group, may suffer losses. When risk occurs, the loss is made good out of the common
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Unit linked insurance plan product of met life india insurance every one fund .in this way each andco.ltd shares the risk .in fact they share the loss by
payment of premium, which is calculated on the likelihood of loss .in olden time, the contribution make the above-stated notion of Insurance. DEFINITION OF INSURANCE Insurance has been defined to be that in, which a sum of money as a premium is paid by the insured in consideration of the insurers bearings the risk of paying a large sum upon a given contingency. The insurance thus is a contract whereby: a. Certain sum, termed as premium, is charged in consideration. b. Against the said consideration, a large amount is guaranteed to be paid by the insurer who received the premium. c. The compensation will be made in certain definite sum, i.e., the loss or the policy amount which ever may be. d. The payment is made only upon a contingency more specifically, insurance may be defined as a contact between two parties, wherein one party (the insurer) agrees to pay to the other party (the insured) or the beneficiary, a certain sum upon a given contingency (the risk) against which insurance is required. TYPES OF INSURANCE Insurance occupies an important place in the modern world because of the risk, which can be insured, in number and extent owing to the growing complexity of present day economic system. The different type of insurance have come about by practice within insurance companies, and by the influence of legislation controlling the transacting of insurance business, broadly, insurance may be classified into the following categories:
1. Classification from business point of view

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a) Life insurance, and b) General insurance 2. Classification on the basis of nature of insurance a) Life insurance b) Fire insurance c) Marine insurance d) Social insurance, and e) Miscellaneous insurance 3. Classification from risk point of view a) Personal insurance b) Property insurance c) Liability insurance d) Fidelity general insurance THE IMPORTANCE OF INSURANCE Insurance benefits society by allowing individuals to share the risks faced by many people. But it also serves many other important economic and societal functions. Because insurance is available and affordable, banks can make loans with the assurance that the loans collateral (property that can be taken as payment if a loan goes unpaid) is covered against damage. This increased availability of credit helps people buy homes and cars. Insurance also provides the capital that communities need to quickly rebuild and recover economically from natural disasters, such as tornadoes or hurricanes. Insurance itself has become a significant economic force in most industrialized countries. Employers buy insurance to cover their employees against work-related injuries and health problems. Businesses also insure their property, including technology used in production, against damage and theft.
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Unit linked insurance plan product of met life india insurance co.ltd Because it makes business operations safer, insurance encourages businesses to
make economic transactions, which benefits the economies of countries. In addition, millions of people work for insurance companies and related businesses. In 1996 more than 2.4 million people worked in the insurance industry in the United States and Canada. Insurance as an investment that offers a lot more in terms of returns, risk cover & as also that tax concessions & added bonuses Not all effects of insurance are positive ones. The possibility of earning insurance payments motivates some people to attempt to cause damage or losses. Without the possibility of collecting insurance benefits, for instance, no one would think of arson, the willful destruction of property by fire, as a potential source of money. THE INSURANCE INDUSTRY TODAY The insurance business has grown dramatically and undergone tremendous changes. As a result of the deregulation of financial services businesses including insurance, banking, and securities tradingthe roles, products, and services of these formerly distinct businesses have become blurred. For instance, citizens in the U.S. state of California voted in 1988 to allow banks to sell insurance in that state. In Canada, banks may also soon be allowed to sell insurance. Advances in communications technology have also allowed traditionally distinct financial businesses to keep instantaneous track of developments in other businesses and compete forsome of the same customers. Some insurance companies now offer deposit accounts and mortgages. In the United States, life insurance companies now sell more pension plans and other asset management services than they do conventional life insurance. Developments in computer technology that have given insurance providers the ability to quickly access and process information have allowed them to custom-design policies to fit the needs of individual customers. But the increasing complexity of policies has also made
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Unit linked insurance plan product of met life some india insurance co.ltd aspects of buying and selling insurance more difficult. In addition,
improvements in geological and meteorological technology have the potential to change the way property insurers calculate risks of damage. For example, as scientists improve their abilities to predict severe weather patterns, such as hurricanes, and geological disturbances, such as earthquakes, insurers may change how they provide protection against losses from such events. EVOLUTION OF INSURANCE IN INDIA The marine insurance is the oldest form of insurance. If we trace Indian history there are evidence that marine insurance was practiced here about three thousand years ago. The code of Manu indicates that there was the practice of marine insurance carried out by the traders in India with those of Srilanka, Egypt and Greece .it is wonderful to see that Indians had even anticipated the doctrine of average and contribution. Fright was fixed according to season and was then very much at the mercy of the wind and other elements. Travelers by sea and land were very much exposed to the risk of losing their vessels and merchandise because of piracy on open seas and highway robbery of caravans was very common. The practice of insurance was very common during the rule of Akbar to Aurangzeb, but the nature and coverage of the insurance in this period is not well known. It was the British insurer who introduced general insurance in India in the modern form. The Britishers opened general insurance in India around the year 1700. The first company known as the sun insurance office was set up in Calcutta in the year 1710. This was followed by several insurance companies like London assurance and royal exchange assurance (1720), Phoenix Assurance Company (1782). Etc. Life insurance business in the country was nationalized in 1956. More than 100 non-life insurance companies including branches of foreign companies operating within the country were amalgamated and grouped into four companies, viz., the
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Unit linked insurance plan product of met life india insurance co.ltd National Insurance Company Ltd., the New India Assurance Company Ltd., the
Oriental Insurance Company Ltd., and the United India Insurance Company Ltd. with head offices at Calcutta, Bombay, New Delhi and Madras, respectively. Life insurance in the current form came in India from united kingdom with the establishment of a British firm, oriental life assurance company in 1818 followed by Bombay life assurance company in 1823, the madras equitable life insurance society in 1829 and oriental life assurance company in 1874.prior to 1871, Indian lives were treated as sub standard and charged an extra premium of 15% to 20%. Bombay mutual life assurance society, an Indian insurer that came in to existence in 1871, was the first to cover Indian lives at normal rates. The Indian insurance company Act 1923 was enacted inter alia, to enable the government to collect statistical information about life and nonlife insurance business transacted in India by Indian and foreign insurer, including the provident insurance societies. The first half of the 20th century marked by two world war, the adverse affects of the World War I and World War II on the economy of India, and in between them the period of world wide economic crises triggered by the Great depression. The first half of the 20th century was also marked by struggles for Indias independence. The aggregate effect of these events led to a high rate of bankruptcies and liquidation of life insurance companies in India. This had adversely affected the faith of the general public in the utility of obtaining life cover. In this background, the Parliament of India passed the Life Insurance of India Act on 19th June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, by consolidating the life insurance business of 245 private life insurers and other entities offering life insurance services. Since 1972, the insurance sector has been totally under the control of government of India through LIC and GIC and its subsidiaries. As a result, revenue of both of them increased in the last years .the amount of savings pooled by LIC increased from Rs.2704 crores
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Unit linked insurance plan product of met life india insurance co.ltd in 1974 to Rs .57670 in 1994 with an annual growth rate of 16.53%. Similarly
premium underwritten by GIC rose from 280 crores in 193 to 7647 crores in1998 showing an annual growth rate of 25.18%. Despite increase in premium collected by both LIC and GIC their were inefficiency and red tapeisum creeped in to the insurance sector. Apart from that a major policy shift by the government of India during 1990s.the Indian economy opened for foreign competition .In this background The government of India in 1993 had set-up a high powered committee by R.N Malhothra , former governor reserve bank of India, to examine the structure of Indian insurance sector and recommended changes to make it more efficient and competitive keeping in view structural changes in other part of the financial system of the country. Insurance sector has been opened up for competition from Indian private insurance companies with the enactment of Insurance Regulatory and Development Authority Act, 1999 (IRDA Act). As per the provisions of IRDA Act, 1999, Insurance Regulatory and Development Authority (IRDA) was established on 19th April 2000 to protect the interests of holder of insurance policy and to regulate, promote and ensure orderly growth of the insurance industry. IRDA Act 1999 paved the way for the entry of private players into the insurance market, which was hitherto the exclusive privilege of public sector insurance companies/ corporations.
EVOLUTION OF INSURANCE ORGANIZATION With a view to serve the society, the insurance organizations have been developed in different forms with innovation of insurance practice for social welfare and development; some of these forms are outlined here.
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a) Self-insurance
The arrangement in which an individual or concern sets up a private fund to meet the future risk. If some losses happened in the future the firm meets the loss out of the fund. While it may be called self insurance it is not a single matter of fact, insurance at all because there is no hedge, no shifting, or distributing the burden of risk among larger Persons. It is merely a provision to meeting the unforeseen event. Here the insured become the insurer for the particular risk. But it can be effectively worked only when there is wide distribution of risks subjected the same hazard. b) Partnership A partnership firm may also carry on the insurance business for the sake of profit. Since it is not an entity distinct from the persons comprising it, the personal liability of partners in respect to the partnership debts is unlimited. In case of huge loss the partners may have to pay from their own personal funds and it will not be profitable to them to starts insurance business .in the early period before the advent of joint stock companies many insurance undertakings were partnership firms or unincorporated companies.
c) Joint stock companies The joint stock companies are those, which are organized by the shareholders who subscribe the necessary capital to start the business. These are formed for earning profits for the stockholders who are the real owners of the companies. The management of a company is entrusted to a board of directors who is elected by the shareholders from amongst themselves. The company can operate insurance
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Unit linked insurance plan product of met life india policyholders have business andinsurance co.ltd nothing to do with the management of the
concern. But in life insurance it is the practice to share certain portion of profit among the certain policyholders. d) Mutual fund companies The mutual fund companies are cooperative association formed for the purpose of effecting insurance on the property of its members. The policyholders are themselves the shareholders of the companies each member is insured as well as insured. They have power to participate in management and in the profit sharing to the full extent. Whenever the income is more than the expenses and claims, it is accumulated I the form of saving and is entitled in reducing the rate of premium. Since the insured are insurers also, they always try to reduce the management expenses and to keep the business at sound level. e) Co-operative insurance organizations Cooperative insurance organizations are those concerns, which are incorporated and registered under Indian cooperative societies Act. The concerns are also called co operative insurance societies these societies like mutual fund companies are non profit organization .the aim is to provide insurance protection to its members at the lowest reasonable net cost .the Indian insurance Act. 1938, has provided special provisions for the co-operative insurance societies, but after nationalization the societies have ceased to exist. f) Lloyds Association Lloyds association is one of the greatest insurance institutions in the world. Taking its name from the coffee house Lloyd where underwriters assembled to transact business and pick-up news. The organization traces its origins to the latter part of the seventeenth century .so it is the oldest insurance organization in existing form in the world. In 1871,Lloyds Act was passed incorporating the members of
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Unit linked insurance plan product of met life india insurance co.ltd the association into a single corporate body with perpetual succession and a
corporate seal .the powers of Lloyds corporation were extended from the business of marine insurance to the other insurance and guarantee business. The Lloyds Association also publishes, Lloyds list and register of shipping for the information of insuring public and the insurers. g) State Insurance The government of a nation, some times, owns the insurance and runs the business for the benefit of the public. The sate insurance is defined as that insurance which is under public sector. In Brazil, Japan and Mexico, the insurance are largely nationalized. Previously, the state undertook only those insurances, which were regarded as vital for the national interest. INSURANCE SECTOR REFORMS Having looked at the insurance sector, the efforts made by the government to make the industry more dynamic and customer friendly. To begin with, the Malhotra committee was set up with the objective of suggesting changes that would achieve the much required dynamism.The Mallhotra Commiittee Report In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R. N. Malhotra, was formed to evaluate the Indian insurance industry and recommend its future direction. In 1994, the committee submitted the report and gave the following recommendations: Structure Government stake in the insurance Companies to be brought down to 50% .Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries can act as independent corporations. All the insurance companies should be given greater freedom to operate.
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Unit linked insurance plan product of met life india Competitioninsurance co.ltd
Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the industry. No Company should deal in both Life and General Insurance through a single entity. Foreign companies may be allowed to enter the industry in collaboration with the domestic companies. Postal Life Insurance should be allowed to operate in the rural market. Only one State Level Life Insurance Company should be allowed to operate in each state. Regulatory Body The Insurance Act should be changed. An Insurance Regulatory body should be set up.Controller of Insurance (Currently a part from the Finance Ministry) Investments Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50%. GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time).
Customer Service LIC should pay interest on delays in payments beyond 30 days. Insurance companies must be encouraged to set up unit linked pension plans. Computerization of operations and updating of technology to be carried out in the insurance industry. Overall, the committee strongly felt that in order to improve the customer services and increase the coverage of the insurance industry should be opened up to competition. But at the same time, the committee felt the need to exercise caution as any failure on the part of new players could ruin the public confidence in the industry.
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Unit linked insurance plan product of met life FewindiaInsurance policies are: Life insurance co.ltd
Whole life policies Cover the insured for life. The insured does not receive money while he is alive; the nominee receives the sum assured plus bonus upon death of the insured. Endowment policies Cover the insured for a specific period. The insured receives money on survival of the term and is not covered thereafter. Money back policies The nominee receives money immediately on death of the insured. On survival the insured receives money at regular intervals during the term. These policies cost more than endowment with profit policies. Annuities / Children's policies The nominee receives a guaranteed amount of money at a pre-determined time and not immediately on death of the insured. On survival the insured receives money at the same pre-determined time. These policies are best suited for planning children's future education and marriage costs. Pension schemes That Pension schemes provide benefits to the insured only upon retirement. If the insured dies during the term of the policy, his nominee would receive the benefits either as a lump sum or as a pension every month. Since a single policy cannot meet all the insurance objectives, one should have a portfolio of policies covering all the needs. ULIPIt is a life insurance police which provides combination of life insurance protection and investment. When people how investments in the capital market have grow
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Unit linked insurance plan product of met life india few years, they prefer over the last insurance co.ltd to use their funds in ways that help them to
participate in the boom in the capital market. Insurers have developed plans that combine the benefits of life insurance as well as giving various options of participating in the growth of the capital market. Such plans are called Linked Life insurance plans. They are also called Unit Linked Insurance Plans or ULIPs, in short. A ULIP is a life insurance policy which provides a combination of life insurance protection and investments. ULIPs contribute nearly 50% of the premium from some insurers and more than 85% of the premium for some others. BACKGROUND OF THE STUDY Life Insurance is a contract for payment of a sum of money to the person assured on the happening of the event insured against. Usually the insurance contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or at unfortunate death if it occurs earlier. Obviously, there is a price to be paid for this benefit. Among other things the contracts also provides for the payment of premiums, by the assured. Life Insurance is universally acknowledged as a tool to eliminate risk, substitute certainty for uncertainty and ensure timely aid for the family in the unfortunate event of the death of the breadwinner. In other words, it is the civilized worlds partial solution to the problems caused by death. Life insurance helps in two ways dealing with premature death, which leaves dependent families to fend for themselves and old age without visible means of support. The most common types of life insurance are whole life insurance and term life insurance. Whole life insurance provides a lifetime of protection as long as you pay the premiums to keep the policy active. They also accrue a cash value and thus offer a savings component. Term life Policies are usually renewable at the end of the term. Few major players are
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Unit linked insurance plan product of met life india insurance co.ltd LIFE INSURANCE CORPORATION OF INDIA
METLIFE INSURANCE COMPANY BIRLA SUN-LIFE INSURANCE COMPANY HDFC STANDARD LIFE INSURANCE COMPANY BIRLA SUN-LIFE INSURANCE COMPANY ING VYSYA LIFE INSURANCE COMPANY SBI LIFE INSURANCE BAJAJ ALLIANZ LIFE INSURANCE COMPANY ICICI PRUDENTIAL LIFE INSURANCE COMPANY MAX NEW YORK LIFE INSURANCE COMPANY OM KOTAK MAHINDRA LIFE INSURANCE COMPANY
CHAPTER - 2
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RESEARCH DESIGN
STATEMENT OF THE PROBLEM
This Study will enable us to understand the consumers perception about life insurance companies and also will enable the companies to understand, how a consumer selects, organizes and interprets the Quality of service and product offered by life insurance companies. SCOPE OF THE STUDY This study is limited to the consumers within the limit of Puri. The study will be able to reveal the preferences, needs, perception of the customers regarding the life insurance products, It also help the insurance companies to know whether the existing products are really satisfying the customers needs. NEED FOR THE STUDY 1) The deeper the understanding of consumers needs and perception, the earlier the product is introduced ahead of competitors, the expected contribution margin will be greater .Hence the study is very important.
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Unit linked insurance plan product of met life india markets and co.ltd 2) Consumer insurance consumer buying behavior can be understood before
sound product and marketing plans are developed. 3) This study will help companies to customize the service and product, according to the consumers need. 4) This study will also help the companies to understand the experience and expectations of the existing customers.
OBJECTIVE OF THE STUDY
To ascertain the profile and characteristics of potential buyers. To have an insight into the attitudes and behaviors of customers. To find out the differences among perceived service and expected service. To produce an executive service report to upgrade service characteristics of life insurance companies. To access the degree of satisfaction of the consumers with their current brand of Insurance products. REVIEW OF LITERATURE: The literature review section critically examine the recent or historically significant studies, company data or industry reports that acts as a basis for proposed studies to begin with the research discussion of the related literature and relevant secondary data from a comprehensive prospective, moving to more specific studies, that are associate with research problem. Basically the literature should be applied to the study, than the researcher proposes. The literature may also explain the needs for the proposed work to appraise the short comings and informational gaps in secondary data sources. To carry the research work the researcher has gone
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Unit linked insurance plan product of met life india insurance co.ltd through a few reports, books, journals and websites. The details regarding Life
Insurance Industry, history, origin and growth of the industry is also taken from some books, magazines etc. The sources of this information are as follows: Catalogues and Broachers from various life insurance companies. Articles from magazines and news paper. Information from various websites.
RESEARCH DESIGN: A research design is a basic plan, which guides the researcher in the collection and analysis of data required for practicing the research. Infect the research design is the conceptual structure where the research is conducted. It constitutes the Blue Print for the collection, measurement and analysis of the data. The study is carried out to understand the Consumer Perception about life insurance companies in Puri city. For this study the researcher used exploratory research design. This research covers 50 consumers in Puri city, belonging to various age groups. SAMPLE DESIGN: The process of drawing a sample from a large population is called sampling. Population refers to the total of items about which information is defined. Wellselected samples may reflect fairly and accurately the characteristics of the population. Sampling Unit: The sample unit of this survey was the customers having life insurance policies in Puri city. Sample Size:
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Unit linked insurance plan product of met life india insurance co.ltd The sample size was 50 customers of different life insurance companies, from the
various parts of the Puri city.

SOURCES OF DATA:
After identifying and defining the research problem and determining specific information required to solve the problem the researcher will look for the type and sources of data which may yield the desired results, while deciding about the method of data collection to be used for the study, there are two types of data. Secondary Data: Secondary data means data that are already available i.e. they refer to the data which have been collected and analyzed by someone and can save both money and time of the researcher. Secondary data may be available in the form of company records, trade publications, libraries etc. Secondary data sources are as follows: Company Reports Daily Newspaper Standard Textbook Various Websites Primary Data: Primary data are those, which are collected for the first time. Primary data is collected by framing questionnaires. The questionnaire contained questions, which are both opened and closed-ended. Open-ended questions are questions requiring answers in the responders own words. Closed-ended questions are those wherein the respondent has to merely check the appropriate answer from a list of options available. Any doubts raised by the respondents were clarified to get the perfect answers from the distributors. Opened questions yielded more insightful
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Unit linked insurance plan product of met life india whereas closed-Ended information, insurance co.ltd questions were relatively simple to tabulate
and analyze. FIELD WORK: An interview-schedule and well-structured questionnaire is administered to the target respondents to collect primary data (Copy of questionnaire is attached in the appendix) Open and close-ended questions are used in the questionnaire. The orders of the questions are in such a manner that they begin with simple questions and lead on the questions that needed more involvement from respondents. The secondary data are collected from periodicals, magazines, journals and Internet. OPERATIONAL DEFINITIONS OF THE STUDY Marketing: Marketing is a social and managerial process by which individuals and group obtain what they need and want through creating, offering and exchanging products of value with others. Marketing Management: Marketing Management is the process of planning and executing the conception, pricing, promotion and distribution of individual and organizational goals. Marketing Research: Marketing research is the systematic and objective search for, and analysis of information relevant to the identification and solution of any problems in the field of marketing. Consumer Research: Consumer research is the methodology used to study consumer behaviour. Consumer Behaviour:
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Unit linked insurance plan product of met life india insurance study of Consumer behaviour is theco.ltd how individuals make decisions to spend their
available resources [time, money, efforts] on consumption related items. Market Segmentation: Market segmentation is the process of dividing a market in the distinct subsets of consumer with common needs or characteristics and selecting one or more segments to target with distinct marketing mix.
Positioning: Positioning is the act of designing the companys offering and image so that they occupy a meaningful and distinct competitive position in the target consumers mind. Perception: Perception is the process by which an individual selects, organizes, and interprets information input to create a meaningful picture of the world. For a marketer to influence a motivated buyer to buy their products rather than competitors they must be careful to take the perception process into account while designing their marketing campaigns. Perception therefore influence what product consumer buys. Attitude: An attitude is a person enduring favorable or unfavorable evaluation, emotional feeling, and action tendencies towards some object or idea. Attributes: Attributes are the strengths and weaknesses of a brand that create attitudes and are used by consumers to choose between brands that are relatively similar or functionally equivalent. Values:
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Unit linked insurance plan product of met life india concept of co.ltd A value is ainsurance the desirable. An internalized standard of evaluation a
person possession.This standard determines or guide an individual evaluation of the many objects encountered in everyday life. Brand: A brand is a name, term, sign, symbol, or design or a combination of them, used to identify the goods or services of one seller or group of seller and the differentiate them from those of competitors.
LIMITATIONS OF THE STUDY
Although the study was carried out with extreme enthusiasm and careful planning there are several limitations, which handicapped the research viz. Time Constraints: The time stipulated for the project to be completed is less and thus there are chances that some information might have been left out, however due care is taken to include all the relevant information needed. Sample size: Due to time constraints the sample size was relatively small and would definitely have been more representative if I had collected information from more respondents. Accuracy: It is difficult to know if all the respondents gave accurate information; some respondents tend to give misleading information.
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CHAPTER-3
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PROFILE OF THE INDUSTRY

INSURANCE AND BUSINESS ENVIRONMENT Insurance is considered as one of the important segment of the economy for its growth and development. This industry provides long term funds which are essential for the growth and development of the nation .so the growth of insurance industry largely depends up on the environment in which they exists. Here I would like to mention about Indian business environment and their impact on insurance sector. There are two type of environment which affect the business one is environment which is internal to the organization (internal environment) and the other one which is external to the organization (external environment). Internal environment includes management, technology, competitors, employees, shareholders, policyholders, marketing intermediary etc. The external environment of insurance business has been classified in four parts, namely legal, economic, financial, and commercial. let us discus them in detail by taking one by one. THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA) The Malhotra Committee felt the need to provide greater autonomy to insurance companies in order to improve their performance and enable them to act as independent companies with economic motives. For this purpose, it had proposed
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Unit linked insurance plan product of met life india insurance co.ltd setting up an independent regulatory body- The Insurance Regulatory and
Development Authority. Based on the Malhotra committee report in April 2000 IRDA was incorporated. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. Section 14 of the IRDA Act 1999, lays the duties, power and functions of the authority .the authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and reinsurance business. Reforms and Implications The liberalizations of the Indian insurance sector has been the subject of much heated debate for some years. The sector is finally set to open up to private competition. The Insurance Regulatory and Development Authority bill will clear the way for private entry into insurance, as the government is keen to invite private sector participation into insurance. To address those concerns, the bill requires direct insurers to have a minimum paid-up capital of Rs. 1billion, to invest policyholders funds only in India; and to restrict international companies to a minority equity holding of 26 percent in any new company. Indian Promoters will also have to dilute their equity holding to 26 percent over -year period. Over the past three year, around 30 companies have expressed interest in entering the sector and many foreign and Indian companies have arranged alliances. Whether the insurer is old or new, private or public, expanding the market will present challenges. A number of foreign Insurance Companies have set up representative
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Unit linked insurance plan product of met life india insurance co.ltd offices in India and have also tied up with various asset management companies.
Some of the Indian companies, which have tied up with International partners, are.
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Indian Partners
International Partners
Bombay Dyeing Tata Dabur Group ICICI Sundaram Finance Hindustan Times Ranbaxy HDFC CK Birla Group DCM Shriram Godrej M A Chidambaram Cholamandalam SK Modi Group 20th Century Finance
General Accident, UK American Int. Group, US Liberty Mutual Fund, US Prudential, UK Winterthur Insurance, Switzerland Commercial Union, UK Cigna, US Standard Life, UK Zurich Insurance, Switzerland Royal Sun Alliance, UK J Rothschild , UK Met Life Guardian Royal Exchange, UK Legal and General, Australia Canada Life
PROFILE OF THE ORGANISATIONS:
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Unit linked insurance plan product of met life MET india INSURANCE COMPANY LIFE insurance co.ltd
MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and was incorporated as a joint venture between MetLife International Holdings Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors. MetLife is one of the fastest growing life insurance companies in the country. It serves its customers by offering a range of innovative products to individuals and group customers at more than 700 locations through its bank partners and company-owned offices. MetLife has more than 55,000 Financial Advisors, who help customers achieve peace of mind across the length and breadth of the country. MetLife Inc., through its affiliates, reaches more than 70 million customers in the. Americas, Asia Pacific and Europe. Affiliated companies, outside of India, include the number one life insurer in the United States (based on life insurance inforce), with over 140 years of experience and relationships with more than 90 of the top one hundred FORTUNE 5001 companies. The MetLife companies offer life insurance, annuities, automobile and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions. For almost 137 years, Metropolitan Life Insurance Company has been insuring the lives of the people who depend on them. Their success is based on their long history of social responsibility, strong leadership, sound investments, and innovative products and services. MetLife Begins The origins of Metropolitan Life Insurance Company (MetLife) go back to 1863, when a group of New York City businessmen raised $100,000 to found the National Union Life and Helping and Healing People In 1909, MetLife Vice President Haley Fiske announced that "insurance, not merely as a business proposition, but as a social program" would be the future policy of the company Supporting Country and Community Over the
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Unit linked insurance plan product of met life years,india insurance co.ltd MetLife has made a difference by supporting urban renewal projects and
community financing. The company's social commitment and its commitment to the security of its policyholders have proven to be good business. MetLife Today In 2010 MetLife is the first insurance company to establish a financial holding company with a nationally chartered bank. Products Offered by the company are 1) Whole Life Met 100 Non par Met 100 Gold par Met 100 Platinum par 2) Endowment Met Gold par Met Platinum par Met Junior par Met junior Non par 3) Money Back Met Sukh Met Junior MB 4) Term Met Mortagage Protector Met Riders Accidental death 5) ULIP Met smart platinum Met smart one ABOUT ULIP
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Unit linked insurance plan product of met life Whenindia insurance co.ltdthe capital market have grow over the last few people how investments in
years, they prefer to use their funds in ways that help them to participate in the boom in the capital market. Insurers have developed plans that combine the benefits of life insurance as well as giving various options of participating in the growth of the capital market. Such plans are called Linked Life insurance plans. They are also called Unit Linked Insurance Plans or ULIPs, in short. A ULIP is a life insurance policy which provides a combination of life insurance protection and investments. ULIPs contribute nearly 50% of the premium from some insurers and more than 85% of the premium for some others. In linked policies, the SA may be expressed as an integrated benefit, which means that on the happening of the event, the SA or the value of units in the fund, whichever is higher, is payable. In this case, the life cover will reduce as the value of the units increases. As the risk cover decreases, the premium adjusted towards the cover will decrease and the amount allocated to investments will increase. The alternative to the integrated benefit, is to pay a fixed SA as an additional benefit on death, in addition to the value of the units in the fund. In this case, the charge for the risk cover will increase and the allocation to the fund will decrease every year. This is sometimes called the Double Death Benefit Insurers offer policy holders a choice of funds in which their moneys may be invested like:Equity Funds: in this type of fund, some times also called Growth Funds, there would be more investments in equities which are shares / sticks traded in the stock market.
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Unit linked insurance plan product of met life Debt india insurance co.ltd also called Bond Funds, the investments are Funds: in this type of fund,
primarily in government and government guaranteed securities and such safe debt and other high investment grade cooperate bonds. Money Market Funds: in this type of fund, sometimes also called Liquid funds, the investment may be more in short- term money market instruments such as treasury bills, commercial papers, etc. Balanced Funds: in this type of funds, the investments are in both equity as well as debt. The two types of ULIP product of Metlife India Insurance Co. Ltd. Are as follows: A.MET SMART PLATINUM :You have always wanted the best for yourself in life. Not surprisingly, your wealth creation & protection needs, which keep changing with your life stage, also deserve the best. Met Smart Platinum, a Unit Linked Plan gives you the platinum edge by providing you with a complete control over your investments.
TRANSPARENCY
There are no hidden charges attached to your investment.

WEALTH CREATION
Competitive charges along with an option to pay-up premiums allows you to generate wealth for your financial goals
Eligibility Criteria
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Minimum Age at Entry (LBD#) Maximum Age at Entry (LBD) Premium Payment Term (Years) Minimum Annualized Premium in Rupees Premium Payment Modes 7years 70 years 5 pay/ 10 pay / entire term of the policy 30,000 for annual mode 60,000 for other modes Annual, Semi-annual, Monthly, Quarterly
Flexibility This feature of increase or decrease in Sum Assured allows you to customize this plan as per your changing life-stage needs and lets you be in control. Innovative Auto Rebalancing Capitalize on opportunities arising out of market movements, while staying protected from the market downside. Death Benefit* In case of unfortunate demise of the insured, the benefit payable will be higher of the Sum Assured (reduced by applicable partial withdrawals) or Fund Value or 105% of the total premiums paid under the policy. Maturity Benefit* The policy matures at the Insured attaining 99 years of age and the benefit payable is the total Fund Value under the policy.
B.Met Smart One
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Unit linked insurance plan product of met life india insurance co.ltd Unit Linked life Insurance Plan (Non-Par) You work hard to fulfill your family
dreams and wish everything that is best for them, whether it is your childrens education or your childs marriage or buying your childs marriage or buying your dream house. We at MetLife understand that your hard earned money should work equally harder for you. Hence we bring to you Met Smart One, Which is investment cum protection single premium plan which along with its various investment management options facilitates accelerated wealth creation with Loyalty Additions.
Key Benefits of Met Smart One

Single pay investment cum protection plan Choice of 7 Funds including NAV Guarantee Fund 2 Investment Strategies Auto Rebalancing option and Self Managed option Unique stop Loss Option to protect you from market downswings Accelerated wealth creation with Loyalty Additions. Liquidity with partial Withdrawals Death Benefit: In case of any unfortunate demise of the insured, Death Benefit will be paid as defined in Death Benefit section Maturity Benefit: At the time of maturity, you will receive the Total fund Value Enhanced protection with Accidental Death Benefit Rider Tax Benefit as per Income Tax Act 1961 ( Please refer to Tax Benefit Section for details.
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Unit linked insurance plan product of met life Yourindia insurance co.ltd Benefits in Detail
Choice of 2 Investment Strategies Met Smart One offers you 2 investment strategies to manage your investments 1. Self Managed Option 2. Auto Rebalancing Option
1. Self Managed Option

In case you feel that you can actively manage your portfolio, then this option is best suited for you. Under this investment strategy, you may manage your investments by choosing among the 7 Unit-Linked Fund options available under this plan. You have an option of switching among various Funds depending on your changing risk appetite and market condition.
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NAV Guarantee Fund (NGF) The NAV Guarantee Fund (NGF) is a Unit-Linked Fund option that provides you minimum guaranteed Net Asset Value at the end of 5 year period (called as lock-in period) from the period of subscription. The guarantee is applicable on the Units remaining in the Unit Account attached to this Fund at the end of lock-in period. No Guarantee is applicable if the amount is withdrawn (i.e. surrender or benefit payout) out of this Fund before expiry of the five year period. However, if death or maturity coincides with the last day of the lock-in period, the guaranteed NAV will be applied to arrive at the death and maturity benefit. The NGF would be a limited period offer and would be available in tranches. At the launch of each tranche, the Net Asset Value of the Fund would be Rs. 10. Subscription to a tranche of the NAV Guarantee Fund (NGF) would terminate on a specified date. Each tranche would terminate at the end of 5 years from the date of close of subscription. The minimum guarantee applicable for the NAV Guarantee Fund will be specified at the beginning of the subscription period. How does NGF work ?
If you opt for the NGF at any time, provided the Fund is open for subscription the entire single premium, net of allocation charges is invested in the NGF
During the subscription period, daily NAV of this Fund would be declared
The fund will be invested in money market instruments for the period of subscription
Subscription into this fund will be allowed only if the minimum remaining term of the Policy is at least 5 years plus the subscription period
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Unit linked insurance plan product of met life india insurance 5 years from the subscription period, the Fund would At the end of the co.ltd
reallocate the monies into the other Funds as per the choice of the customer or if no choice is made by the maturity date, then the allocation will be made in the fund proportion then existing
If the Policy is surrendered before the end of the term of the NGF, the NGF Units are encashed at the NAV as on that date. The guarantee will cease to apply on surrender Kindly visit our website or contact our call center or visit our nearest branch regarding the NGF availability and the applicable guaranteed NAV
(2) Auto Rebalancing Option This option is suitable for you if you do not want to manage your investment portfolio directly on a regular basis. Under this option, your Funds are allocated in the Flexi Cap Fund and the Protector II Fund in the proportions as per your choice which you can exercise at the time of opting for the Auto Rebalancing Option. In case of any market movement, to a trigger level as specified by you, the mix of Flexi Cap Fund & Protector II Fund is automatically rebalanced to the ratio chosen by you at inception. This ensures that your investment portfolio stays exactly the way you wanted it to without you having to keep an eye on it on a regular basis by capping off gains of one fund into the other or taking larger exposure into one fund on market dips.Under this investment strategy, you may choose your premium allocation only between 2 Unit-Linked Fund options as given below.
1) Flexi Cap Fund
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Unit linked insurance plan product of met life india II Fund 2) Protector insurance co.ltd
The minimum allocation should be 20% in either of the Funds and total of both the Funds should always be 100%. As this strategy works on the trigger levels, you are required to choose between 4 rebalancing options available, which will be the trigger levels for rebalancing and they are as follows: 1) 10% of Total Fund Value 2) 15% of Total Fund Value 3) 20% of Total Fund Value 4) 25% of Total Fund Value This option works as follows:
You choose the allocation between Flexi Cap and Protector II Fund depending on your risk appetite. For e.g. in case your risk appetite is lower you may choose a ratio of 70%:30% between Protector II Fund & Flexi Cap Fund respectively or in case of higher risk appetite you may choose a ratio of 80%:20% between Flexi Cap Fund and Protector II Fund respectively. You are also required to choose the trigger level as mentioned above
In case the chosen allocation between Flexi Cap and Protector II Fund is 80%:20% respectively and the chosen trigger level is 10%, then for any 10% increase or decrease in Total Fund Value, a rebalancing between Flexi Cap and Protector II Fund will be initiated to the extent of restoring the ratio between Flexi Cap Fund and Protector II Fund as chosen by you at inception (i.e. 80% in Flexi Cap Fund and 20% in Protector II Fund)
You can choose to opt in or out of this strategy once in a Policy Year free of charge. Any subsequent change of the strategy in a given Policy Year will be charged Rs. 250 per strategy switch In case of any new transaction such as Payment of Top-up Premiums your premiums will be allocated in the same proportions as prevailing at that time
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Unit linked insurance plan product of met life india insuranceWithdrawals, the Fund withdrawals will happen in the In case of Partial co.ltd
same proportions prevailing at that time
No switching is allowed while Auto Rebalancing option is active, however in case you opt out of the strategy, you may opt for Fund Switching You can choose to stop this option anytime and can reallocate the remaining Units in any fashion amongst the other Fund available under the Self Managed Option. However, if you have chosen to discontinue this option, you can restart it only once in a Policy Year free of cost. In case of any subsequent opt-in into this strategy a fee of Rs. 250 will be charged This option will not be available as long as any proportion of the Policyholder monies are invested in NGF
Stop Loss Option To cap off downside risk, you may opt for a Stop Loss Option on the Flexi Cap Fund. This facility is available on both Single Premium and Top-up Premium amounts invested in Flexi Cap Fund. To avail this option, you will be required to choose a Stop Loss level of 10%, 15%, 20%, 25% or 30% of Net Asset Value of Flexi Cap Fund (NAV). If the NAV of the Flexi Cap Fund falls to the Stop Loss level, the Funds would be automatically switched to Protector II. This switch will not be counted amongst the free switches available under the plan. You will be allowed to change the Stop Loss percentage, change the base NAV for tracking the Stop Loss and opt in for the Stop Loss Option once free every Policy Year post which charges as defined under Miscellaneous Charges would be applicable. However these charges will not be applicable if applied through the internet. The minimum Fund allocation in Flexi Cap Fund to avail this option has to be 50%. Example: If the NAV at the time of entry is Rs. 10 and the Stop Loss level chosen is 10%, then on the NAV breaching Rs. 9, the Units in the Flexi Cap Fund would be switched to the Protector II Fund. However, if the NAV continues to rise
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Unit linked insurance plan product of met life to Rs.india insuranceitself will not do anything. You can however switch back 12, the strategy by co.ltd
to Flexi Cap Fund. You can also change the base for the purpose of the Stop Loss tracking from Rs. 10 to Rs. 12. When such an activity is initiated, 10% downside would need to be tracked from Rs. 12 NAV. Both the above transactions will continue to be free of cost if done online. Death Benefit In the unfortunate event of your demise, while the Policy is in force & before the maturity date, your nominee will get the following Death Benefit. i) If the death of the Person Insured occurs before the attainment of age 60 The Death Benefit payable will be higher of :
The Single Premium Fund Value (the value of Units pertaining to Base Premium Account), or The Base Sum Assured less all Partial Withdrawals (excluding any withdrawals made from Top-up Premium Account), made in accordance with the Partial Withdrawal provisions in the last 24 months preceding the date of death of the Person Insured or 105% of the total Single Premium paid
ii) If the death of the Person Insured occurs on or after the attainment of age 60 The Death Benefit payable will be higher of: The Single Premium Fund Value (the value of Units pertaining to Base Premium Account) or
Base Sum Assured less all Partial Withdrawals (excluding any withdrawals made from Top-up Premium Account) made in accordance with the Partial
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Unit linked insurance plan product of met life india insurance co.ltd the last 24 months immediately preceding the Withdrawal provisions, during
date of death or all Partial Withdrawals made in accordance with the Partial Withdrawal provisions post attainment of age 60, whichever is higher or
105% of the Single Premium paid In addition to any of i) or ii) above, and provided Top-up Premiums are paid the higher of: The Top-up Fund Value (the value of Units pertaining to Top-up Premiums) or Top-up Sum Assured (less any Partial Withdrawals from Top-up Fund Value, as per Partial Withdrawal provisions before and after age 60, as stated above) 105% of the total Top-up Premiums paid shall also be payable.
Maturity Benefit & Settlement Option On maturity of the Policy, you will receive the Total Fund Value as on the maturity date. If you wish to defer your maturity proceeds, you may choose to do so with the Settlement Option. 1. Under this option, you may choose to take your Total Fund Value in installments within 5 years from the date of maturity or choose a combination of part lump sum and part installment 2. At anytime during the settlement period you can take the outstanding Fund Value by terminating the Policy 3. If you choose the settlement option, you will have to bear the risks involved in the Unit-Linked Funds. The number of withdrawals in any calendar year would be limited to 12. The minimum withdrawal during the Settlement Option should be 5% of the Fund Value 4. The life insurance cover during this period would not be applicable, and in case of death of the Policyholder during this period, the Fund Value as on that date shall be paid, and the Policy will be terminated
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Unit linked insurance plan product of met life india insurance co.ltd 5. If you wish to opt for the Settlement Option, you need to inform the
Company at least 90 days prior to the date of maturity 6. The Fund in Settlement Option will be subject to Policy Administration and Fund Management Charges as defined under Your charges section. No other charges will be deducted during the settlement period Liquidity with Partial Withdrawals You have the option to withdraw monies from your Policy to meet your liquidity needs in case of any emergency after 5th Policy Anniversary. The minimum amount of Partial Withdrawal should be Rs. 5,000 and the maximum amount of Partial Withdrawal should not exceed 5% of the Total Fund Value. The Total Fund Value after any withdrawal should be at least equal to 30% of the Single Premium. You may make one Partial Withdrawal in a Policy Year (either from Single Premium or Top-up Premium Account) free of charge. Partial Withdrawals are allowed first from the Topup Premium Account and then from the Single Premium Account. No Partial Withdrawals are allowed from the NAV Guarantee Fund.In addition to the life cover, you may choose to enhance protection by opting for the Accident Death Benefit Rider (117A011V01).The Premiums towards this rider will be recovered by deducting Units from the Fund You will be eligible for Loyalty Additions under the Policy subject to your Policy being in force. Loyalty Additions (expressed as a % of the Average Single Premium Fund Value) will be credited to your Policy at the end of every Policy Year from year 6 to year 10 (i.e. for five years). The percentage of Loyalty Addition varies in accordance with the size of the Single Premium, as shown in the table below: Fund Value Less than 50,000 0.0% 50,000 to 99,999 0.4% 1,00,000 to 1,99,999 0.6% 2,00,000 to 3,99,999 0.8%
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Unit linked insurance plan product of met life india insurance 4,00,000 to 5,00,000 1.0% co.ltd
The Average Single Premium Fund Value taken for Loyalty Additions is the average of Fund Values over last 36 months from the date of calculation. Top-up Premiums will not be eligible for Loyalty Additions. NAV Guarantee will not be available on the Units allocated through Loyalty Additions. manage my Flexibility to add Top-up Premiums You have the flexibility to make additional investments (over and above the Single Premium) with the help of Top-up Premiums, anytime during the coverage term. The minimum amount of a single Top-up Premium is Rs. 5,000. There is no maximum limit on Top-up Premiums. With every Top-up Premium, there will be an increase in Sum Assured, which will be to the extent of 125% of the Top-up Premiums made. There are no maximum Limits on the Top-up Premiums. Any Top-up Premiums paid would not be eligible for Partial Withdrawals for five years from the date of such payment. Top-up Premiums are not allowed during last 5 years of the Policy Term. Top-up Premiums will not be allowed to be invested in any series of tranches of NAV Guarantee Fund. However, if the entire Single Premium is invested in NAV Guarantee Fund, Top-up Premiums will be allowed to be invested in other Funds. Maturity Benefit & Settlement Option On maturity of the Policy, you will receive the Total Fund Value as on the maturity date. If you wish to defer your maturity proceeds, you may choose to do so with the Settlement Option. 1. Under this option, you may choose to take your Total Fund Value in installments within 5 years from the date of maturity or choose a combination of part lump sum and part installment 2. At anytime during the settlement period you can take the outstanding Fund Value by terminating the Policy
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Unit linked insurance plan product of met life india insurance co.ltd 3. If you choose the settlement option, you will have to bear the risks involved
in the Unit-Linked Funds. The number of withdrawals in any calendar year would be limited to 12. The minimum withdrawal during the Settlement Option should be 5% of the Fund Value 4. The life insurance cover during this period would not be applicable, and in case of death of the Policyholder during this period, the Fund Value as on that date shall be paid, and the Policy will be terminated 5. If you wish to opt for the Settlement Option, you need to inform the Company at least 90 days prior to the date of maturity 6. The Fund in Settlement Option will be subject to Policy Administration and Fund Management Charges as defined under Your charges section. No other charges will be deducted during the settlement period
Liquidity with Partial Withdrawals You have the option to withdraw monies from your Policy to meet your liquidity needs in case of any emergency after 5th Policy Anniversary. The minimum amount of Partial Withdrawal should be Rs. 5,000 and the maximum amount of Partial Withdrawal should not exceed 5% of the Total Fund Value. The Total Fund Value after any withdrawal should be at least equal to 30% of the Single Premium. You may make one Partial Withdrawal in a Policy Year (either from Single Premium or Top-up Premium Account) free of charge. Partial Withdrawals are allowed first from the Topup Premium Account and then from the Single Premium Account. No Partial Withdrawals are allowed from the NAV Guarantee Fund.Enhanced protection with Accident Death Benefit Rider
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Unit linked insurance plan product of met life india insurance co.ltd Enhanced protection with Accident Death Benefit Rider
In addition to the life cover, you may choose to enhance protection by opting for the Accident Death Benefit Rider (117A011V01).The Premiums towards this rider will be recovered by deducting Units from the Fund.oyalty Additions Loyalty Additions You will be eligible for Loyalty Additions under the Policy subject to your Policy being in force. Loyalty Additions (expressed as a % of the Average Single Premium Fund Value) will be credited to your Policy at the end of every Policy Year from year 6 to year 10 (i.e. for five years). The percentage of Loyalty Addition varies in accordance with the size of the Single Premium, as shown in the table below:
Single Premium Band (in Rs) Less than 50,000 50,000 to 99,999 1,00,000 to 1,99,999 2,00,000 to 3,99,999 4,00,000 to 5,00,000
Loyalty Additions as a % of Average Single Premium Fund Value 0.0% 0.4% 0.6% 0.8% 1.0%
The Average Single Premium Fund Value taken for Loyalty Additions is the average of Fund Values over last 36 months from the date of calculation. Top-up
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Unit linked insurance plan product of met life india insurance co.ltd Premiums will not be eligible for Loyalty Additions. NAV Guarantee will not be
available on the Units allocated through Loyalty Additions. How can I manage my Investments ? Flexibility to add Top-up Premiums You have the flexibility to make additional investments (over and above the Single Premium) with the help of Top-up Premiums, anytime during the coverage term. The minimum amount of a single Top-up Premium is Rs. 5,000. There is no maximum limit on Top-up Premiums. With every Top-up Premium, there will be an increase in Sum Assured, which will be to the extent of 125% of the Top-up Premiums made. There are no maximum Limits on the Top-up Premiums. Any Top-up Premiums paid would not be eligible for Partial Withdrawals for five years from the date of such payment. Top-up Premiums are not allowed during last 5 years of the Policy Term. Top-up Premiums will not be allowed to be invested in any series of tranches of NAV Guarantee Fund. However, if the entire Single Premium is invested in NAV Guarantee Fund, Top-up Premiums will be allowed to be invested in other Funds. Flexibility of switching between Unit-Linked Funds You may wish to use this benefit to lock growth in your investments. You have the benefit to switch partially or fully between the available Unit-Linked Fund options, at any point of time during the coverage term. You will have the benefit of 4 (four) free switches in every Policy Year, post which every switch in a Policy Year would be levied a charge of Rs. 250. The minimum value of every switch should be Rs. 5,000. This facility is not allowed in case Auto Rebalancing option is chosen. No switches are allowed from the NAV Guarantee Fund. Surrender Benefit The Policyholder may opt to surrender the Policy at any time after the first 5 years
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Unit linked insurance plan product of met life of theindia insurance co.ltd of a Policy, the Total Fund Value will be Policy Term. Upon surrender
payable upon processing the surrender request. No surrender is allowed during the first 5 years of the Policy Term (lock-in period). No Surrender Charges are applicable under the Policy. In exceptional circumstances, the Company may defer the surrender of the Policy for a period not exceeding 30 days from the date of application with prior approval from IRDA. Examples of such circumstances are: 1. When one or more stock exchanges which provide a basis for valuation for a substantial portion of the assets of the Fund are closed other than for ordinary holidays. 2. When, as a result of political, economic, monetary or any circumstances that are out of the control of the Company, the disposal of the assets of the Unit-Linked Fund(s) are not reasonable or would not reasonably be practicable without being detrimental to the interests of the remaining Policyholders invested in the UnitLinked Fund(s) 3. During periods of extreme volatility of markets resulting into non-valuation of Funds, during which surrenders would, in our opinion, be detrimental to the interests of the existing Policyholders invested in the Unit-Linked Fund(s) 4. In case of natural calamities, strikes, war, civil unrest, riots and bandhs 5. In event of any force majeure or disaster that affects our normal functioningther Free Look Period You have a period of 15 days from the date of receipt of the Policy Document to review the terms and conditions of this Policy. If you have any objections to any of the terms and conditions, you have the option to return the Policy stating the reasons for the objections and you will be refunded an amount equal to nonallocated premiums plus charges levied through cancellation of Units plus Fund Value at the date of cancellation subject to deduction of expenses towards
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Unit linked insurance plan product of met life india insurance co.ltd medical examination, stamp duty and proportionate risk premium for the period of
cover. Met Smart One at a Glance

Boundary Conditions Minimum Age at Entry (lbd) Maximum Age at Entry (lbd) Minimum / Maximum Age at Maturity Policy Term Minimum Premium Maximum Premium Sum Assured Multiple Premium Payment Modes Eligibility Criteria 0 Years (3 months) 65 18 / 75 Years 10-20 Years 18,000 500,000 5 times of SP in the First Policy Year & 1.25 times of SP for the remaining term of the Policy Single
Your Policy Charges (A) Premium Allocation Charges This is a Premium-based charge. After deducting this charge from your Single Premium, the remaining Premium is invested to buy Units. Premium Allocation Charge will be deducted from the Single Premium received as shown below Premium Band Less than 50,000 More than or equal to 50,000 Premium Allocation Charge 3% 2%
The Premium Allocation Charge for Top-up Premium is 2.0% (B) Policy Administration Charges The following Policy Administration Charge would be deducted by cancellation of Units on a monthly basis . Policy Year Policy Administration Charge as a % of Single Premium
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Year 1 to 5 Year 6 and above
0.10% per month NA
The Policy Administration Charge would be deducted from the Unit-Linked Funds by cancellation of appropriate number of Units from the Fund Value. If you have chosen Settlement Option, you will be charged a Policy Administration Charge of Rs. 40 per month during the Settlement Period.
(C) Mortality Charges Mortality Charge will be deducted at the beginning of each month by cancellation of an appropriate number of Units at the relevant Net Asset Value. Mortality Charge will be based on the Age of the Person Insured, Cost of Insurance (CoI) and the applicable Sum Assured. For Single Premium The calculation method will be as follows: Mortality Charge = (Sum at Risk / 1000) * Cost of Insurance (CoI) The Sum at Risk is defined as the Death Benefit (as defined in the Benefits section) Minus the Fund Value (relating to Single Premium Account). For Top-up Premium Mortality Charge = (Sum at risk / 1000)*Cost of Insurance (CoI) The Sum at Risk is defined as the Death Benefit (as defined in the Benefits section for Top-up Premium Account) minus the Fund Value (relating to Top-up Premium Account) in the Unit Account. The sample monthly Cost of Insurance per 1000 Sum at Risk is as below:
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Unit linked insurance plan product of met life india Age/Gender insurance co.ltd 20 Years 30 Years 40 Years
Male Female
0.110067 0.097067
0.126804 0.125938
0.215000 0.165700
These charges would be deducted at the beginning of each month by cancellation of an appropriate number of Units at the relevant Net Asset Value. (D) Fund Management Charges These charges are adjusted while calculating the Net Asset Value of the UnitLinked Funds each day. Following are the applicable charges for different Funds.
Fund Option Preserver II Protector II Balancer II Virtue II Multiplier II Flexi Cap NAV Guarantee Fund**
Charges 1.00% p.a. 1.00% p.a. 1.15% p.a. 1.25% p.a 1.25% p.a. 1.25% p.a 1.25% p.a
** The Fund Management Charges are 1.05% p.a. plus Cost of Guarantee of 0.20% p.a. (E) Rider Premium Charge for Accidental Death Benefit Rider (ADB) The Rider Premium Charges are deducted from Fund Value by adjusting number of Units in the Unit Account. Service Tax and Education Cess on Rider Premium will also be applicable at the rates then applicable. (F) Switching Charge The first four (4) switches between Funds in a Policy Year will be free of any charge Thereafter a charge of Rs. 250 per switch will be levied. The switching charges will be deducted by cancellation of Units of appropriate value from the Fund Value.
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Unit linked insurance plan product of met life india insurance co.ltd (G) Partial Withdrawal Charge
One Partial Withdrawal in a Policy Year either from Top-up Fund or Single Premium Fund will be free of any charge. For each subsequent Partial Withdrawal in a Policy Year, a charge of Rs. 250 would be levied. The Partial Withdrawal Charge will be deducted by cancellation of Units of appropriate value from the Fund Value. (H) Miscellaneous Charge The Company has the option to charge Rs. 250 for any alterations requests including but not limited to following list of alterations. The Miscellaneous Charge will be deducted by cancellation of appropriate number of Units using the relevant Net Asset value of these Units. 1. Change in Name or Date of Birth or Address or Contact Details of Person Insured / Policyholder 2. Issue of Duplicate Policy Document on request from the client 3. Change / updation of name or other particulars of Nominee / Appointee / Assignee 4. Cheque bounce / cancellation of cheque / cancellation or fresh request for ECS 5. Re-dispatch of Policy Document or other particulars due to incorrect or outdated address details provided by client 6. Request for adhoc or additional Unit statement by client 7. Change in Bank details / Fund transfer requests for settlement of claims 8. Change in amount or frequency or option during settlement period 9. Switch in and out of Auto Rebalancing Strategy, change in trigger levels and premium allocation proportion 10. Switch in and out of Stop Loss Option (I) Service Tax Charge
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Unit linked insurance plan product of met life india insurance co.ltd This charge as notified by the Government from time to time will be made by
cancellation of appropriate number of Units at the relevant Net Asset Value. Service Tax would be applied only on Mortality Charges and Fund Management Charges currently. Service Tax on Fund Management Charge is applied at the time of declaration of daily NAV on an FMC of 1.35%p.a., as specified by the Government currently or the actual FMC if it is higher than 1.35% p.a. In the event that in any given year, the number of Units in the Unit Account is insufficient to enable the Company to recover the tax amount, the Company reserves its right to recover such outstanding tax amount from the Unit Account in the following years. MetLife reserves the right to recover any taxes imposed by any governmental authorities from the Policyholders Fund Value. Note: The Company reserves the right to increase / decrease any of the above Miscellaneous Charges subject to an upper limit of Rs.2,000 with prior approval from the IRDA. Tax Benefits Tax benefits under this plan are available as per the provisions and conditions of the Income Tax Act, 1961 and are subject to any changes made in the tax laws in future. Please consult your tax advisor for advice on the availability of tax benefits for the premiums paid and proceeds received under the Policy for more details. Suicide Clause In the event the Person Insured commits suicide, whether sane or insane at that time, within one year from the date of commencement or date of policy issue or the date of the last reinstatement whichever is later, we shall not be liable to pay the Sum Assured, except refund of the Fund Value. Policy Loan We may, at our discretion, offer Policy loan facility under this Policy as per the interest rates and conditions laid out by us from time to time. This facility will be
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Unit linked insurance plan product of met life india insurance co.ltd available only after completion of 2 Policy Years and subject to the following
limits: Minimum limit: Rs. 5,000 Maximum limit: i) 40% of the Surrender Value (i.e. Total Fund Value), if equity proportion is more than 60% of the Total Fund Value at Policy level ii) 50% of the Surrender Value (i.e. Total Fund Value), if proportion of debt instruments is more than 60% of the Total Fund Value at Policy level No Loan will be provided if monies are invested in NAV Guarantee Fund. For more details on Policy Loan, please contact our representative or nearest MetLife branch. Auto Foreclosure In the event, the Total Fund Value reaches 20% of the Single Premium after completion of 5 Policy Years, the Policy will terminate and the total Fund Value will be paid to you. Risks Inherent in the Unit-Linked Funds Due to the nature of the Unit-Linked Funds, the Company does not guarantee the price of the Units of any of the Unit-Linked Funds offered by it. Unit-Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The Insured (and the Policyholder, if different) is aware that the investment in Units is subject, interalia (amongst others), to the following risks: The investments in the Units are subject to market and other risks and there can be no guarantee that the objectives of any of the Unit-Linked Funds will be achieved. The Unit-Linked Funds do not offer a guaranteed or assured return. The premium paid in Unit-Linked Life Insurance Policies are subject to investment risks associated with capital markets. The Fund Value of each of the Unit-Linked Fund can go up or down depending on the factors & forces
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Unit linked insurance plan product of met life india insurance co.ltd from time to time including changes in the affecting the financial markets
general level of interest rates and the insured is responsible for his / her Decisions The past performance of the Unit-Linked Fund(s) of the Company is not necessarily indicative of the future performance of any of these Unit-Linked Funds The name of the Product does not in any way indicate the quality of the product, its future prospects or returns The names of the Unit-Linked Funds and their objectives do not in any manner indicate the quality of the fund, their future prospects or returns
benefits payable under the Policy are subject to the tax laws and other legislations / regulations as they exist from time to time The following Policy Administration Charge would be deducted by cancellation The ULIP product of MetLife and its comparison with two companies are as follows:
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CHAPTER -4
ANALYSIS AND INTERPRETATION

INTRODUCTION TO ANALYSIS:
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Unit linked insurance plan product of met life india insurance co.ltd In order to extract meaningful information from the data them. The analysis can be
conducted by using simple statistical tools like percentages, averages and measures of dispersion. Alternatively the collected data may be analyzed, the data analysis is carried out. The data are first edited, coded and tabulated for analyzing by using diagrams, graphs, charts, pictures etc. Data analysis is the process of planning the data in an ordered form, combining them with the existing information and extracting from them. Interpretation is the process of drawing conclusions from the gathered data in the study. In this research the researcher has analyzed the data using percentages and graphs. DATA ANALYSIS TOOLS USED: In this research the data analysis tools used are percentages and graphs. The various attributes were analyzed separately and the importance to each was calculated on the basis of the percentage. The rank having the maximum percentage was taken to be preferred importance to the particular attribute. After looking at each attribute separately, all the attributes were considered together to develop a map on the most preferred rank for all the attributes.
TABLE 1 AGE OF RESPONDENTS
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Unit linked insurance plan product of met life india insurance co.ltd NUMBER OF SL.NO AGE IN YEARS PERCENTAGE OF
RESPONDENTS 1. 2. 3. 4. 5. 6. 19 28 29 38 39 48 49 58 59 68 69 78 TOTAL 24 13 6 6 0 1 50 RESPONDENTS 48 % 26 % 12 % 12 % 0% 2% 100 %
SOURCE :- SURVEY DATA INFERENCE: The above table classified the respondents according to their age group. The majority of the respondents belong to the age group 19 to 28 years with 48% and the second age group is 29 to 38 years with 26%, followed by 39 to 48 years and 49 to 58 years with 12% each.
GRAPH 1 AGE OF RESPONDENTS
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TABLE 2
DIFFERENCIATION OF THE RESPONDENTS INTO MALE AND FEMALE
TYPES OF RESPONDENTS MALE RESPONDENTS FEMALE RESPONDENTS TOTAL
NUMBER OF RESPONDENTS 34 16 50
PERCENTAGE OF RESPONDENTS 68% 32% 100 %
SOURCE: - SURVEY DATA

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Unit linked insurance plan product of met life india This table helps us to INFERENCE:insurance co.ltd understand that there are more number of male
consumers with 68% market share than the female consumers with 32% Market share.
GRAPH 2
DIFFERENCIATION OF THE RESPONDENTS INTO MALE AND FEMALE
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TABLE 3 DIFFERENCIATION OF RESPONDENTS BASED ON THEIR OCCUPATION SL.NO OCCUPATION NUMBER OF RESPONDENTS 2 20 24 2 2 50 PERCENTAGE OF RESPONDENTS 4% 40 % 48 % 4% 4% 100 %
1. 2. 3. 4. 5.
STUDENTS GOVERNMENT EMPLOYEES PRIVATE EMPLOYEES HOUSE WIVES RETIRED PERSONS TOTAL
SOURCE :- SURVEY DATA INFERENCE: It could be inferred that majority of consumers of life insurance policies are private employees with 48% and Government employees with 40%, followed by students, house wives and retired persons with 4 % each.
GRAPH 3
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TABLE 4 TABLE SHOWING ATTRIBUTES FROM RESPONDENTS SL.NO 1. 2. 3. 4. 5. ATTRIBUTE RETURN ON INVESTMENT COMPANY REPUTATION PREMIUM OUTFLOW SERVICE QUALITY PRODUCT QUALITY RESPONDENTS 17 13 10 7 3 RANK 1 2 3 4 5
SOURCE :- SURVEY DATA INFERENCE: This table shows the strengths and weaknesses of the company, and what are the important criteria or attributes on which decision making is done. From this table we can infer that consumers give more importance for Return on investment, secondly they prefer company reputation, and then premium outflow followed by service quality and product quality.
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GRAPH -4
72
TABLE 5 VALUE OF RESPONDENTS LIFE INSURANCE POLICY AMOUNT NUMBER OF RESPONDENTS 0 5 8 15 22 PERCENTAGE OF RESPONDENTS 0% 10 % 16 % 30 % 44 %
1. 2. 3. 4. 5.
< 10000 10000 25000 25000 50000 50000-100000 > 100000
SOURCE :- SURVEY DATA INFERENCE: It can be inferred that majority of consumers buy the life insurance policy which costs more than Rs. 1,00,000 followed by Rs. 50,000 to Rs.1,00,000, followed by Rs. 25,000 to Rs. 50,000. GRAPH-5
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TABLE 6 RESPONDENTS PREFERENCE TO INVEST THEIR MONEY NUMBER OF RESPONDENTS 24 26 50 PERCENTAGE OF RESPONDENTS 48 % 52 % 100 %
INSURANCE COMPANY BANK TOTAL
SOURCE :- SURVEY DATA INFERENCE: From the table it is clear that majority of people (52%) prefer to invest in Bank and others (48%) prefer to invest in Insurance companies. GRAPH-6
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TABLE 7 SATISFACTION OF RESPONDENTS WITH CURRENT LIFE INSURANCE RESPONSE YES NO TOTAL COMPANY NUMBER OF RESPONDENTS 47 3 50 PERCENTAGE OF RESPONDENTS 94 % 6% 100 %
SOURCE :- SURVEY DATA INFERENCE: From this table it could be inferred that 94% of the consumers are satisfied with the service and quality of products of their life insurance companies. Only 6% of consumers are not satisfied.
GRAPH 7
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TABLE 8 MARKET SHARE OF DIFFERENT LIFE INSURANCE COMPANIES COMPANIES LIC TATA AIG HDFC ICICI MAX NEWYORK KOTAK MAHINDRA METLIFE NUMBER OF RESPONDENTS 39 1 3 4 1 1 1 PERCENTAGE OF RESPONDENTS 78 % 2% 6% 8% 2% 2% 2%
SOURCE: - SURVEY DATA INFERENCE: This table helps us to understand the market share of different life insurance companies. LIC has a major share of 78 %, followed by ICICI Prudential with 8% market share, followed by HDFC Standard Life with 6% market share followed by met life with 2% market share.
GRAPH 8
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TABLE 9 RATINGS OF THE SERVICES OFFERED BY THE RESPONDENTS LIFE INSURANCE COMPANY RATINGS NUMBER OF PERCENTAGE OF RESPONDENTS RESPONDENTS EXCELLENT VERY GOOD GOOD AVERAGE POOR TOTAL SOURCE: - SURVEY DATA INFERENCE: From this table it could be inferred that 40% of the consumers have rated service offered as good, 24% of them have rated them as very good, 22% of them have rated as average and 14% of them have rated as excellent. GRAPH 9 7 12 20 11 0 50 14 % 24 % 40 % 22 % 0% 100 %
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CHAPTER -5
72
FINDINGS, CONCLUSION AND SUGGESTIONS FINDINGS The majority of respondents belonged to the age group of 19 to 28 years which formed 48% followed by age group of 29 to 38 years which formed 26%. The male consumers capture the Market share with 68%, followed by the female consumers with 32%. The majority of the consumers of life insurance companies are private employees with 48% and Government employees with 40% The dominant income group having life insurance group belong to the group of 10001 to 15,000 followed by 5,001 to 10,000. LIC has a major market share of 78%. The factors which influenced to select a life insurance company is the personal factor, followed by family, friends, agents and advertisements. The value of respondents life insurance policy costs more than 1, 00,000 followed by 50,000 to 1,00,000. Majority of the people (52%) prefer to invest in bank others (48%) prefer to invest in insurance company. Majority of consumers are satisfied with the service and quality of products of their life insurance companies. Majority of consumers (78%) would like to communicate the service offered by life insurance companies. Majority of consumers (58%) are aware about 5 to 7 life insurance companies. LIC stands first followed by ICICI prudential, followed by HDFC Standard Life.
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CONCLUSION
An Insurance policy is an investment oriented plan. As compared to other investment plans, the investment portfolio of the Insurance Policy functions like a mutual fund and other investment. It is invested in a portfolio of debt and equity instruments, in conformity with the announced investment policy. Hence it grows or erodes in line with the performance of that portfolio. From this study it reveals that the consumers attitude towards Insurance Policy and Insurance Company changed a lot. A 5 years before the consumers and the general public were not interested to take an Insurance Policy but now days there are many options and choices in front of the customers. They are interested to take high return policies in order to secure their lives. People are aware of all the benefits and returns of insurance policies. As a result of this new international and domestic companies are coming to the Indian Market. Since there are many players in the Indian Insurance Market the competition level is very high. So the companies are introducing new schemes. From this it is found that The LIC is the major market share holder in the insurance field. Even if there are many players in this field still it is an untapped market. Only a few portion of Indian population is insured.
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RECOMMENDATIONS AND SUGGESTIONS With regard to insurance companies, consumers respond at different rates, depending on the consumers characteristics. Hence Insurance companies should try to bring their new product to the attention of potential early adopters. Due to the intense competition in the life insurance market, the life insurance companies have to adopt better strategies to attract more customers. Keeping the cost, quality and return on investment in tact is necessary in order to tackle the competition. Life insurance products are taken mainly by middle and higher income group. Hence they should be regarded as maim targeted income groups. Life insurance products which are suitable for lower income group should also be released so that the market share increases. Return on investment, company reputation and premium outflow are most preferred attributes that are expected by the respondents. Hence greater focus should be given to these attributes.
Private life insurance companies should adopt effective promotional strategies to increase the awareness level among the consumers.
Life insurance companies should ask for their consumer feedback to know whether the consumers are really satisfied or dissatisfied with the service and product of the companies. If they are dissatisfied, then the reasons for dissatisfaction should be found out and should be corrected in future.
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The LIC brand name has earned a lot of goodwill and enjoys a high brand equity. As there is intense competition in life insurance market, LIC should work hard to maintain its top position and offer better service and product. The Company should give more Advisement about the product. The Company should Target to the person whose Income Less than Rs20000.
The Company should give more awareness in rural areas through different ways.
The women awareness programme is necessary.
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BIBLIOGRAPHY
1) Dr. Singh, Avtar, Principles of Insurance Law, S Chand & Sons, Delhi,2003. 2) Leon G. Schiffman, Lestie Lazar Kanwk, Consumer Behaviour, Himalaya Publishers, Delhi,2004 3) Kotler Philip, Marketing Management, Pearson Education Inc. 11th Edition. 4) Stanton William J, Etzel Michael J, Walker Bruce J, Fundamentals of Marketing, McGraw-Hill international, Singapore, 2002 5) Ravi Shankar, Services Marketing, Prentice Hall, 2000. 6) Valarie Azithaml, Marry Jo Bittner, Services of Marketing, Prentice Hall, 2001 7) Rutchnee .T & K.S.Arun Kumar, Consumer preference & buying perception of ready made silk garments, PGDSM, International center for training & research in tropical sericulture,
Newspapers:
Economic
Times
Business Line World Wide Web:

www. lic.com www.irda.org www.wikipedia.com
www.metlife.com
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ANNEXURE
QUESTIONNAIRE
NAME:________________________________________________________________ ADDRESS:_____________________________________________________________ OCCUPATION:________________________________________________________ 1. ARE YOU EMPLOYED? YES NO
2. DO YOU HAVE ANY INSURANCE POLICY? YES NO
3. WHICH INSURANCE POLICY DO YOU HAVE? LIFE NON-LIFE BOTH
4. WHICH COS INSURANCE POLICY YOU PREFER THE MOST ( RANK THEM) a) LIC c) SBI LIFE INSURANCE e) MAX NEW YORK LIFE INSURANCE g) RELIANCE LIFE INSURANCE b) ICICIPRUDENTIAL d) MET LIFE INDIA INSURANCE f) BAJAJ ALLIANZE h) ANY OTHER ________( Specify)
5. WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE PLAN? (RANK THEM) a) COVER FUTURE UNCERTAINITY c) FUTURE INVESTMENT b) TAX DEDUCTIONS d) ANY OTHER_________ (Specify)
6. WHATS YOUR PERCEPTION ABOUT INSURANCE? (RANK THEM) a) A SAVING TOOL b) A TAX SAVING DEVICE c) A TOOL TO PROTECT FUTURE
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Unit linked insurance plan product of met life india insurance co.ltd 7. ARE YOU SATISFIED WITH THE POLICY? a) SATISFIED b) NOT SATISFIED c) NOT RESPONDING
8. ARE YOU SATISFIED WITH THE SERVICE AGENT? a) SATISFIED b) NOT SATISFIED c) NOT RESPONDING
9.DO YOU PAY TAXES? YES NO
10.WHICH IS THE BEST FORM OF INVESTMENTS? (RANK THEM) a) FIXED ASSETS d) SECURITIES, i.e. Bonds, MFs e) SHARES f) INSURANCE b) BANK DEPOSITS c) JEWELLERY
11.. WHAT DO YOU INTENT TO GAIN FROM INVESTMENTS? a) SAVING & RETURNS b) SECURITY c) TAX BENIFITS
12. WHATS THE RIGHT AGE TO BUY INSURANCE? a) AFTER 25 Yrs c) AFTER 45 Yrs b) AFTER 35 Yrs d) ANYTIME
13.HOW WOULD YOU RATE INDIAN INSURANCE COs? a) RIGID PLANS c) UNSATISFATORY SREVICES e) SATISFACTORY g) VERY GOOD 14.WHAT WOULD YOU LOOK FOR IN AN INSURANCE COs? (RANK THEM) a) A TRUSTED NAME c) GOOD PLANS b) FRIENDLY SERVICE & RESPONSIVENESS d) ACCESSIBILITY b)NON- USER FRIENDLY d) NON- AGGRESSIVE
f) GOOD
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Unit linked insurance plan product of met life india insurance co.

Konark Institute of Science & Technology Technopark, Jatni

Smitavikranta Mohanty Master of Business Administration Reg. No:- 0906214014

Konark Institute of Science & Technology Technopark, Jatni

KONARK INSTITUTE OF SCIENCE & TECHNOLOGY

TO WHOM IT MAY CONCERN

Prof. P.K. Tripathy (Faculty of Finance)

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

1. Classification from business point of view

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

OBJECTIVE OF THE STUDY

Konark Institute of Science & Technology Technopark, Jatni

various parts of the Puri city.

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

LIMITATIONS OF THE STUDY

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

PROFILE OF THE INDUSTRY

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

PROFILE OF THE ORGANISATIONS:

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

There are no hidden charges attached to your investment.

B.Met Smart One

Konark Institute of Science & Technology Technopark, Jatni

Key Benefits of Met Smart One

Konark Institute of Science & Technology Technopark, Jatni

1. Self Managed Option

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

1) Flexi Cap Fund

Konark Institute of Science & Technology Technopark, Jatni

same proportions prevailing at that time

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

cover. Met Smart One at a Glance

Konark Institute of Science & Technology Technopark, Jatni

Year 1 to 5 Year 6 and above

0.10% per month NA

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

Konark Institute of Science & Technology Technopark, Jatni

ANALYSIS AND INTERPRETATION

Konark Institute of Science & Technology Technopark, Jatni

TABLE 1 AGE OF RESPONDENTS

Konark Institute of Science & Technology Technopark, Jatni

GRAPH 1 AGE OF RESPONDENTS

Konark Institute of Science & Technology Technopark, Jatni

TYPES OF RESPONDENTS MALE RESPONDENTS FEMALE RESPONDENTS TOTAL

PERCENTAGE OF RESPONDENTS 68% 32% 100 %

NAME:__________________________________ ADDRESS:_ OCCUPATION:__________________________ 1. ARE YOU EMPLOYED? YES NO