Professional Documents
Culture Documents
SIP
SIP
PRESENTED BY
Area- Nashik
The main reason of the project is to study the various product categeriesed offerd by sbi life .
We gate industry exposure.
We can know level of awareness about life insurance in people.
We can know about the satisfactory level of existing investores.
We can trace out the future investores.
OBJECTIVE
Type of data
Primary
Research
Instrument Questionnaire
Data Collection Structured Questionnaire
Method
Contact Method Face to Face Interview
Data analysis and interpretation
Q.1.How did you came to know about insurance policy?
Sr. Medium of information Respondents Percentage
No
1 Radio 2 2%
2 T.V. 11 10%
3 Internet 16 15%
4 Friends 44 40%
5 Relatives 33 30%
6 Adviser 4 3%
Total 110 100%
Medium of information
Adviser 3%
Relatives 30%
Friends 40%
Internet 15%
T.V. 10%
Radio 2%
2 Rs.2,50,001-5,00,000 45 41%
3 Rs.5,00,001-10,00,000 33 30%
4 Rs.10,00,000 Above 10 9%
Annual Income
Percentage
45%
40% 41%
35%
30% 30%
25%
20%
20%
15%
10% 9%
5%
0%
Unde r Rs. 2 ,5 0 ,0 0 0 Rs.2 ,5 0 ,0 0 1 -5 ,0 0 ,0 0 0 Rs.5 ,0 0 ,00 1 -1 0 ,0 0 ,0 0 0 Rs.1 0,0 0 ,0 0 0 Above
Q. 3 Which type of policy do you have?
Sr. No. Name Of Policy Respondents Percentage
1 Health plan 15 9.67%
2 Term plan 30 19.35%
3 Endowment plan 46 29.67%
4 Child plan 26 16.37%
5 Saving plan 38 22.58%
Total 155 100%
Policy types
10%
23%
Health plan
20% Term plan
Endowment plan
Child plan
Saving plan
17%
30%
Q.4 What is the range of premium you paying?
7%
0-5,000
13%
5,001-10,000
10,001-15,000
29%
Q.5 What is preferable periodicity of premium payment of SBI Life Insurance?
Sr. Periodicity of Respondent Percentage
No. premium
1 Monthly 11 10%
2 Quarterly 22 20%
3 Half yearly 16 15%
4 Annual 55 50%
5 Single premium 6 5%
Total 110 100%
Monthly
Payment of premium Quarterly
Half yearly
Annual
Single premium
Single premium Monthly
5% 10%
Quarterly
20%
Annual
50%
Half yearly
15%
Q.6 What is the purpose of buying life insurance?
Percentage
Tax benefit
Saving 5%
20%
Investment
15%
Risk cover
60%
25
24
20 22
20
15
13
12 10
10 9
10
8
5 6
3
4 4
0 3 0 3 0
2 2
0
Health plan Term plan Endowment plan Child plan Saving plan
3%
Highly satisfied
Satisfied
Neutral
Dissatisfied
55% Highly Dissatisfied
30%
FINDINGS-:
It is found that most of the respondents came to know about insurance plan through
friends & relatives.
Majority of respondents have life insurance policy having their income in between Rs.2,50001-
5,00,000.
Most of the respondents having insurance policies have their range of premium is upto Rs. 5000.
It is found that most of the respondents prefer to pay their premium on annual basis as compare to
half yearly or quarterly basis.
It is found that majority people have their purpose behind buying life insurance policy is risk
coverage.
It is found that majority of the respondents are satisfied with the SBI life insurance products while
most of the respondents said they are highly satisfied with the services provided by SBI life.
SUGGESTION
•Awareness camp for sub-urban area should be focused.
•Marketing in terms of the media via advertisements on Television to small commercials on FM,
hoardings and signage etc. has to be made because there were respondents who haven’t even
heard about SBI Life Insurance.
•State and Central Government employees should be targeted because of reasons like:
They don’t have Life Insurance cover other than that provided by their respective
employers and SBI life.
Most of them are under insured.
They have a stable source of income and social security.
•SBI Life Insurance must build its reputation by focusing on service quality. Better service quality
may be in the form of
oIssuing policy in time
oProviding claims in time.
oMaking customers aware about their status of policy.
•SBI Life Insurance must introduce such kind of policies which will give maximum profits in short
term period.
CONCLUSION
During the data collected, it has been found that people have great awareness about needs and are
willing to trust private players with their hard earned money. People in general have been influenced by
the marketing activities of Insurance Companies.
A high penetration of print, radio and TV ad campaigns over the years is beginning to have its impact
now. Another important trend was in terms of people viewing insurance as a tax saving and investment
instruments much as protective one. The general satisfaction levels among public with regards to policy
and agents still requires improvement. Here lies the opportunity for a relatively new comer like SBI Life
Insurance. LIC has never been known for prompt service or customer oriented methods but SBI Life
Insurance can build its reputation based on this factors.37% out of 75% people those who are aware
about SBI Life Insurance have investment plans ofit.25 % people not aware about SBI Life Insurance,
hence they invested in other Life Insurance Company.83% out of 37% people those who have SBI Life
Insurance investment plans are very satisfied with these plans because of good services, returns,
guarantee, brand image, premium, nice features, attractive plans etc.70% of the people those who
don’t have account in SBI Bank think that they can’t take investment plans of SBI Life Isurance.67 %
People thought that covers future uncertainty, tax saving and investment are some of the
benefits of Life Insurance People are interested in those plans that give maximum profit in short term.
BIBLIOGRAPHY
Website:
•https://www.sbilife.co.in
•https://mypolicy.sbi.com
•https://sbi-life-easy-access-iso.soft11
•https://www.paisabazaar.com
THANK YOU