AEGON RELIGARE

1
UNIT LINK INSURANCE PLANS
Submitted in partial fulfillment of the requirements of
The M. B. A. Degree Course of Bangalore University
Submitted by
Suraj Singh
(REGD-NO-22205611040)
Under the supervision and guidance
of
Mr. Suresh C.A Miss.Ragini
Branch head Professor
Aegon Religare lic St.Hopkins College of
Brigade road,bangalore Management
External guide Internal guide

AEGON RELIGARE
2
DECLARATION
I hereby declare that this report titled An In-depth Analysis on
Unit link insurance plan at Aegon Religare is a recordof
independent work carried out by me towards the partial
fulfillment of MBA courseof Dravidian University at St.Hopkins
college of Management. This has not been submitted in part or
fulfillment towards any degree.
PLACE: BANGALORE Suraj Singh
DATE : 25/04/2013 (22205611040)

AEGON RELIGARE
3
PRINCIPALS CERTIFICATE
This to certify that this report titled Unit Link Insurance
plans (ULIP)hasbeen prepared by Suraj Singh bearing
the Reg. No.22205611040under the guidance and
supervision of Miss Ragini, Professor,
St.hopkins college, Bangalore.
Place: Bangalore Mr.Mohan
Date: 25/04/2013 Principal
AEGON RELIGARE
4
GUIDES CERTIFICATE
This is to certify that the Project Report entitleUnitlink
Insurance Product is done by Suraj Singhbearing
Registration No.22205611040 is a bonafide work done
carried under my guidance during the academic year
(2011-2013) in a partial fulfillment of the requirement for
the award of MBA degreeby DravidianUniversity. To the
best of my knowledge this report has not formed the
basis for the award of any other degree.
Place: Bangalore Miss.Ragini
Date: 25/04/2013 (professor-St.Hopkins
college of management)
4
AEGON RELIGARE
5
GUIDES CERTIFICATE
This is to certify that the Project Report entitled Unit
Link Insurance Product is done by Suraj Singhbearing
Registration No.22205611040 is a bonafide work done
carried under my guidance during the academic year
2011-2013in a partial fulfillment of the requirement for
the award of MBA degreeby Dravidian University. To the
best of my knowledge this report has not formed the
basis for the award of any other degree.
Place: Bangalore Miss.Ragini
Date: (Professor St.hopkins college)

AEGON RELIGARE
6
Acknowledgement
I am indebted to Mr.Suresh CA, the Branch manager,
Aegon Religare Life InsurancePvt Ltdfor providing me
guidance throughout the project. A veryspecial thanks to
Miss Ragini, Faculty, St.Hopkins College of Management,
Bangalore who has always helpedthe students to
achieve the best through his words of encouragement
and being verysupportive by providing us with an
excellent Concepts of Marketing.
Finally, I remain indebted to my parents who helped me
throughout the project by giving metheir invaluable
feedback, inspiring me and guiding me and all the team
leaders and team members who helped me out in
knowing thegrass root functioning of the store.
AEGON RELIGARE
7
Table of Content
1. Introduction about industry
2. Company profile
3. Research design
4. Our product
5. Product comparison
6. Data analysis and interpretation
7. Findings
8. Suggestions/recommendations
9.Annexure
10.Bibliography
AEGON RELIGARE
8
Industry Background
A contract (policy) in which an individual or entity receives financial
protection or reimbursement against losses from an insurance
company. This is known as insurance.
Indian insurance sector has remained on rails even in the toughest of
the times, thanks to the Insurance Regulatory and Development
Authority (IRDA)'s tough and conservative apparatus. A sound
insurance segment ensures better economic development as indicated
by a study which states that 1 per cent increase in insurance
penetration leads to 13 per cent reduction in uninsured losses and 22
per cent reduction in taxpayers' contribution to recovery following a
natural catastrophe. Keeping pace with international happenings,
Indian insurance industry has remained in a good health and
maintained absolute transparency and highest standards of corporate
governance. Assets under management (AUM) of the Indian insurers
are slated to touch Rs 20 trillion (US$ 376.51 billion) while the general
insurance sector is anticipated to grow 18 per cent in 2012-13.
Insurance sector has grown substantially over the last few years, with
its AUM from Rs 8 trillion (US$ 150.57 billion) in 2008 to Rs 18 trillion
(US$ 338.82 billion) in 2011-12.
AEGON RELIGARE
9
History of life insurance companies in India
Some of the important milestones in the life
insurance business in India are:
1818: Oriental Life Insurance Company, the first life insurance company
on Indian soil started functioning.
1870: Bombay Mutual Life Assurance Society, the first Indian life
insurance company started its business.
1912: The Indian Life Assurance Companies Act enacted as the first
statute to regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the
government to collect statistical information about both life and non-
life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance
Act with the objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies are taken
over by the central government and nationalized. LIC formed by an Act
of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5
crore from the Government of India.
The General insurance business in India, on the other hand, can trace
its roots to the Triton Insurance Company Ltd., the first general
insurance company established in the year 1850 in Calcutta by the
British.
AEGON RELIGARE
10
Market share of various life insurance
companies of I ndia
AEGON RELIGARE
11
AEGON RELIGARE
12
Life insurance companies in India
Public Sector
Government of India Fully owns 1 company:
Life Insurance Corporation of India
Private Sector
AEGON Religare Life Insurance
Aviva Life
Shriram Life Insurance
Bajaj Allianz Life Insurance
Bharti AXA Life Insurance Co Ltd
Birla Sunlife
Canara HSBC Oriental Bank of Commerce Life Insurance
Star Union Dai-ichi Life Insurance
DLF Pramerica Life Insurance
Edelweiss Tokio Life Insurance Co. Ltd
Future Generali Life Insurance Co Ltd
HDFC Standard Life Insurance Company Limited
AEGON RELIGARE
13
ICICI Prudential
IDBI Fortis Life Insurance
IndiaFirst Life Insurance Company
ING Vysya Life Insurance
Kotak Life Insurance
Max Life Insurance
PNB MetLife India Life Insurance
Reliance Life Insurance Company Limited
Sahara Life Insurance
SBI Life Insurance Company Limited
TATA AIG Life Insurance
AEGON RELIGARE
14
Research design
Title of study
Unit Link Insurance Plan(ULIP) Aegon Religare company
Statement of problem
There are various kind of insurance product available in the industry.
Here, we have compared Traditional plan and Unilt Link insurance
plan. Where as we have tried to get on a conclusion what are the usp
of Unit Link Insurance product and why we should buy them.
Objective
To know the pattern of investment in insurance sector in context
of Banglore
To know the investment motives preferred by Bangalorepeople.
To know how the people make investment decision
To know about Aegon Religare (ulip) product
To do a comparison
Scope
To re-establish Aegon religare. as the market leader in quality and
value-priced investment products in Bangalore.
Establish good working relationships with our clients
Understanding market needs and plan for development
To understand customer needs and provide them best investment
products
AEGON RELIGARE
15
Limitations
Less awareness about the product.
Less knowledge among people about Aegon Religare.
More people dont want to trust private company,they want to
for lic on safer side.
PLANNING OF THE SURVEY:-
Preplanning is sine-guenon for any kind of survey. Their some must be
some preliminarypreparation. first and foremost I decided the topics to
works onand then prepared some question related to the topic
considering every possible point of view .finally, I framed the
questionnaire is the language .I used simple words and easy sentences
to be fairly understood .
OBJECTIVE OF THE SURVE:--
The objective of any survey is to study the opinionof the respondent
about the chosenitems. The opinions are drawn in the form of answer
given to the set of question in thequestionnaire .
The topic of the present survey is THE BRIEF INVESTMENT PRODUCT
COMPARISON OF(ULIP)AEGON RELIGARE
3. SCHEDULE
Contains of the schedule are determine by taking into account the aim
of the survey andthe subsequent collection of the information form
the informants with the help of aquestionnaire .it is a vital part of the
survey and has to be prepared with utmost care ,once the contents of
the schedule have been determine .
AEGON RELIGARE
16
it insures complete information and data required in min.no.of
question
the question should be worded in a simple language so that it may be
easilyunderstandable to both the interviewer and as well as
interviewees.
The informations could be filled quickly and easily with min. errors and
omission.
There should be MCQ whose answer could be given by putting a tick
mark.
There should be ambiguity.
Keeping in the mind the aim of my survey and all these consideration
regarding schedule, the questionnaire was formed bearing the heading
PROUCT COMPARISON OF AEGON RELIGARE
TECHINQUE OF DATA COLLECTIONS AND SIMPLING
TECHNIQUE
The formostpart of project is to prepare the tools of the data
collection. Data have been collected here through questionnaire
interviewing clients who present at time of survey in the Primary
data collection total 101 customer were interviewed.
Some of unable to give time for it because of their hectic schedule
Busy.
AEGON RELIGARE
17
Theinterview was the direct one and the question were asked in
face to face situation.
During the time of data collection the customers had to fill up the
questionnaire at the every moment before me .
They also discussed some of the question with me reasons for
using the direct method of interview was the accuracy of the
personal interview .
DURATION OF THE SURVE
Survey was started from 15
th
march 2013 and got completed in the 2
nd
week of April 2013
REPORT WRITING
In this very project only a few things have been analyzed which are
essential .few thingscould not get analyzed due to unreliable
information supplied by the respondents.
IMPORTANCE TERMS OF REASERCH METHODOLOGY
Type of research-Descriptive &conclusive
Data type Primary data
Data size -100
Data collection method questionnaire
Data collection instruments-structured questionnaire
Sample unit-All
Sample technique Random
Data analysis Tools andtechniques Bar and Pie chart
AEGON RELIGARE
18
Company profile
AEGON Religare Life Insurance
Company
Aegon Religare lic is a joint venture of three company
Aegon-one of the worlds largest insurance and pension company
Religare-one of the Indias largest company in finance sector
Bennet and Coleman indias largest media house
Together they came as Aegon Religare life insurance company
AEGON RELIGARE
19
ABOUT AEGON
As an international life insurance, pension and investment company,
AEGONhas
businesses in over twenty marketsin the Americas, Europe and Asia.
With headquarters
in The Hague, the Netherlands, AEGON companies employ
approximately 28,000 people
and serve some 40 million customers across the globe. The companys
common shares
are listed on three stock exchanges: Amsterdam, New York and London.
AEGON has
more than 160 years of experience with its roots going back to 1844.
AEGON holds 26%
equity in ARLI.
AEGON RELIGARE
20
Aegon
Life insurance/ pension/ investments
Presence in over 20 markets throughout the Americas,Europe and Asia
5
th
largest life insurance companyin the world based on revenue.
Ranked 103 on the fortune 500 list.
More than 5 crore customers worldwide.
More than 31,500 employees worldwide.
ABOUT RELIGARE ENTERPRISES LIMITED
Religare Enterprises Limited (REL) is a global financial services group
with a presence
across Asia, Africa, Middle East, Europe and the Americas. In India,
Religares largest
market, the group offers a wide array of products and services ranging
from insurance,
asset management, broking and lending solutions to investment
banking and wealth
management. The group has also pioneered the concept of investments
in alternative asset
classes such as arts and films. With over 10,000 employees across
multiple geographies,
AEGON RELIGARE
21
Religare serves over a million clients, including corporates and
institutions, high net
worth families and individuals, and retail investors. REL hold 44% equity
in ARLI.
Religare
Value that bind
One of Indias leading integrated financial services group
Services in retail, wealth& institutional spectrums
Presence in more than 460 cities and towns and more than 1550
locations acrossIndia
ABOUT BENNETT, COLEMAN & COMPANY LIMITED
Bennett, Coleman & Company Limited (BCCL), part of the mammoth
Times Group,
is Indias largest media house. It reaches out to 2468 cities and towns
all over India. The
group owns and manages powerful media brands like The Times of
India, The Economic
Times, Maharashtra Times, Navbharat Times, Femina, Filmfare, Grazia,
Top Gear, Radio
Mirchi, Zoom, Times Now, Times Music, Times OOH, Private Treaties
and
AEGON RELIGARE
22
indiatimes.com. All of its brands are multinational in outlook,
traditional at heart and
national in spirit. From the very first edition on November 3, 1838 the
mammoth BCCL
Group has come a long way. By way of the innovative venture of Times
Private Treaties
(http://www.timesprivatetreaties.com), the BCCL Group holds 30
equety in ARLI.
Leader Ship Team
Mr. Rajiv Jamkedar Managing Director & Chief
Executive Officers
Mr. K.S. Gopalakrishnan Chief financial officers
Mr. Saibal Ghosh Chief Investment Officers
Mr. Yateesh Srivastava Chief Marketing Officers
Mr. Debmalya Maitra Head-Audit Risk & compliance
Mr.PK Dinakar Appointed Actuary
AEGON RELIGARE
23
Board of Directors
Mr. Sunil Godhwani
Mr. Ravi Mehrotra
Mr. Kamlesh Dangi
Mr. Douglas C. Henck
Mr. David Wolf
Mr. Jan Aartvander Steen
Mr. Sivakumar Sundaram
Mr. K N Memani
Dr. Adarsh Kishore
Rajiv Jamkhedkar
AEGON RELIGARE
24
SWOT Analysis
SWOT Analysisis the most renowned tool for audit and analysis of the
overall strategic position of the business and its environment. Its key
purpose is to identify the strategies that will create a firm specific
business model that will best align an organizations resources and
capabilities to the requirements of the environment in which the firm
operates. In other words, it is the foundation for evaluating the internal
potential and limitations and the probable/likely opportunities and
threats from the external environment. It views all positive and
negative factors inside and outside the firm that affect the success. A
consistent study of the environment in which the firm operates helps in
forecasting/predicting the changing trends and also helps in including
them inthe decision-making process of the organization.
S - Strenght
W Weakness
O Opportunities
T Treats
Strength:
. Innovative Policies with emphasis on long term returns
Online products like iTerm
. International expertise of AEGON group
AEGON RELIGARE
25
. Strong and aggressive marketing
AEGON companies employ approximately 28,000 people and
serve some 40 million customers across the globe
. Religare has over 10,000 employees across multiple
geographies, Religare serves over a million clients
Weakness:
Less penetration in rural areas.
. Small agent base catering to huge customer base as compared to big
players
.More no of competitors
Threats:
Stringent Economic measures by Government and RBI
Entry of new NBFCs in the sector
Market changes
Opportunity:
. .Growing rural market.
. Earning Urban Youth.
. Cross selling through financial services such as banking.
AEGON RELIGARE
26
ULIP Products
What is ULIP ?
Difference between ULIP and Mutual fund
Structure of ULIP
Types of funds under ULIP
Advantage of ULIP
Disadvantage of ULIP
ULIP feature
Aspects of ULIP
Categories of ULIP
Investment Strategies
AEGON RELIGARE
27
Introduction
A Unit Linked Insurance Plan (ULIP)is a product offered by insurance
companies that unlike a pure insurance policy gives investors the
benefits of both insurance and investment under a single integrated
plan.
What is ULIP
ULIP is an abbreviation for Unit Linked Insurance Policy. A ULIP isa life
insurance policy which provides a combination of risk cover and
investment. The dynamics of the capital market have a direct bearing
on the performance of the ULIPs. In a ULIP policy, the investment risk is
generally borne by the investor.
What isthe difference between ULIP and Mutual Funds
By concept, there is only a small difference between ULIP schemes and
a Mutual fund scheme, in terms of product structure, excluding risk
coverage. They are both market linked for returns, and they will both
carry market risk. Based on the investors selected stock performance,
his returns will reflect exactly that in both cases. For both options, a
fund manager will be responsible for running the scheme. That is all as
far as the similarities are concerned, i.e. the product structure. There
AEGON RELIGARE
28
are significant variations in the way the two products are managed,
and, on an important note, regulated.
Regarding regulation, Mutual Funds are regulated by the SEBI, while
ULIPs are regulated by the IRDA. From an industrial point of view, while
Mutual Funds focus on low costs and better performance as the USP,
ULIP looks more at distribution reach as the USP.
Summary:
Mutual Funds are regulated by the SEBI, while ULIPs are regulated by
the IRDA.
Mutual Funds are sold by un-tied agents, while ULIPs are sold by tied
agents attached to one particular insurer.
Mutual funds have stricter transparency requirements than ULIPs.
ULIPs are more flexible than MFs, as they allow you to increase your life
cover while the premium remains the same; unlike ULIPs, where you
have to buy a new policy altogether.
Structure of ULIPs
ULIPs offered by different insurers have varying charge structure.
Broadly the different types of fees and charge given below.
Premium Allocation Charges
AEGON RELIGARE
29
This is the amount the company will deduct from your premium
upfront which will reduce your investment considerably. These charges
were very high when ULIPS were introduced in India. Now, after several
interventions by IRDA, ULIPS charges have come down drastically. But
still these charges reduce the investment of the customers and bring
down returns.
Mortality Charges
Whenever you buy a life insurance policy, the company offering it will
levy a charge for the insurance protection upon death and to cover
certain other expenses. In a nutshell this is the actual cost of insurance.
Technically called mortality charge, this is deducted usually every
month from your policy's account value. While the insurance company
can tweak these charges from time to timeit cannot exceed the
maximum limit as specified in the policy.
Fund Management Charges
This is the amount charged by the company to manage the fund. These
charges are not on the premium paid but on the fund value and are the
major source of revenue for the company. These charges are in the
range of 0.75% pa to 1.35% pa depending on the nature of the fund. In
NAV guaranteed plans, there can be an additional charge of 0.5%pa.
Policy Administration Charges
AEGON RELIGARE
30
These are used to pay the costs of maintaining the policy, including
accounting and record keeping. Administration fees usually are
deducted from your policy value once a month.
Surrender charges
This charge is deducted from your cash value if you surrender
(terminate) your policy during your surrender charge period. Be sure to
check the length of your surrender charge period when evaluating a
policy to buy.
Fund Switching Charge
Switches are options given to policyholders of unit-linked insurance
plans (Ulips) to move their investments from one fund to another,
within one plan.
You can transfer units fully or partially between fund options - equity,
debt and equity to debt.
Typically, Ulips offer pure equity, debt and balanced fund options to
their customers. Mostly, each Ulip can invest in aminimum of four-five
funds. And, the policyholder is allowed to choose the funds where
his/her money will be invested.
Advantage of Ulips
Unit Linked Plans offer unique opportunity to combine protection with
AEGON RELIGARE
31
investments. Some special features of Unit Linked Life Insurance
Policies (ULIPs) are:
Provides flexibilityininvestments
ULIPs offer a complete selection of high, medium and low risk
investment options under the same policy. You can choose an
appropriate policy according to your risk taking appetite, coupled
with the opportunity to switch between fund options without any
additional expense for specified number of switches. ULIPs
provide the flexibility to choose the sum assured and investment
ratio in the annual targeted premium. It also offers the flexibility
of one time increase in investment portfolio, through top-ups to
avail investment opportunity offered by external environment or
own income flows.
Transparency
The charge structure, value of investment and expected IRR based
on 6% and 10% rate of returns, for the complete tenure of the
policy are shared with you before you buy a product. Similarly, the
annual account statement, quarterly investment portfolio and
daily NAV reporting, ensures that you are aware of the status of
your investment portfolio at all times. Most companies publish
latest NAVs on their respective websites on a daily basis.
Liquidity
To cope with unforeseen circumstances, ULIPs offer the benefit of
partial withdrawal; wherein after 5 years you can withdraw funds
from our Unit Linked account, retaining only the stipulated
minimum amount.
AEGON RELIGARE
32
Disciplined and regular savings
ULIPs help you inculcate a regular saving habit. Also, the average
unit costs tend to be lower than one time investment.
Multiple benefits bundled in one product
ULIP is an outstanding solution for risk cover, long term
investments with the benefit of various investment opportunities,
coupled with tax benefits.
Spread of risk
ULIPS are ideal for those investors who wish to avail the benefit of
market linked growth without actually participating in the stock
market, with the added benefit of risk-cover.
Disadvantages
Flexibility
Initially heavy cost
No control on Cost
ULIPs Feature
Top up
Switch between fund
Increase or decrease the protection level during the term of policy
Cover continuance options
AEGON RELIGARE
33
Surrender options
Range of riders which can be attached to the main policy to
provide you added protection.
Aspects of ULIPs
All the charge deductible under the policy
Payment on premature surrender
Features and benefits
Limitationsand exclusion
Lapsing and its consequence
Other disclosure
Our ULIPs Products
These plans give you double benefit of life cover and market linked
investment.
Aegon Religare future protect premier
Aegon Religare future protect plan
Aegon Religare future protect plus plan
Aegon Religare assure plan
AEGON RELIGARE
34
Aegon Religare assure plus plan
Aegon Religare I maximizer plan
What Are The Different Types Of ULIPs?
Depending on the purpose of investment ULIPS can be divided into the
following types:
ULIPs for Retirement Planning: These plans accumulate a portion
of your savings over a period of time and the corpus amount is
made available to the policyholder at maturity for purchasing an
immediate annuity plan.
ULIPs for Child Education: These plans aim at providing financial
support for expenses related to children like education, marriage
etc.
ULIPs for Wealth Creation: There are many ULIPs with the
objective of accumulating wealth over time which will help the
policyholder beat the rising costs by offering return on
investment.
ULIPs for Health Solutions: Keeping in mind the rising medical
expenses, these plans allow the policyholder to claim for health
related expenses of any kind. Some plans may also fund your
future health insurance charges.
AEGON RELIGARE
35
Most insurers offer a wide range of funds to suit ones insurance and
investment objectives, risk profile and time horizons. Different funds
have different risk profiles. The potential for returns also varies from
fund to fund
The following are some of the common types of funds available in India,
along with an indication of their risk characteristics.
General Description Nature of
Investment
Risk Category
Equity Funds Primarily invested in
company stocks with
the general aim of
capital appreciation
Medium to High
Balanced Funds Combining equity
investment with
fixed interest
instruments
Medium
Income, Fixed
Interest and Bond
Funds (also known
as debt fund)
Invested in
corporate bonds,
government
securities and other
fixed income
instruments
Medium
Cash Funds (also
known as secured
fund)
Sometimes known
as Money Market
Funds invested in
cash, bank deposits
Low
AEGON RELIGARE
36
and money market
instruments
As we can see, equity funds invest largely in equity and carry higher
risk. These funds are preferable for young investors with higher risk
appetites. Income, Fixed Interest, Bond and Balanced funds provide
lesser risk then equity funds. Middle aged investors with medium risk
profile can opt for balanced funds that invest only part of the corpus in
equities. Cash funds are an ideal option for risk-averse customers.
Product comparison of Aegon Religare with other companies
conclusion
Aegon Religare Ulips plan is one of the most sold plan in the
insurance industry.
Aegon Religare introduced online Ulips plan.
Rising Star child plan
AEGON RELIGARE
37
Why to buy this plan
Child plan is required now a days as cost of education is growing at
significant rate as per survey these are some interesting facts and
figures:-

In spite of great increase course and tuition fees there are various other
expenses which comes to up bring the child if we consider all those fees
and expenses we can easily get that in present scenario a child plan is
AEGON RELIGARE
38
most to get rid of increasing expenses and maintain good life standard
life for our children.
AEGON RELIGARE
39
Rising star-AegonReligare Rising Star Insurance Plan is a
comprehensive unit-linked plan designed to help parents systematically
accumulate the desired corpus for their child s future, along with
providing 360 degree protection to ensurethat the child is financially
secured in case of an unfortunate event.
AEGON RELIGARE
40
Mr. Mahesh (Age 34 years) works with a private firm. His wife is a
teacher and they have a son - Anuj who is 5 years old. Although
Mahesh and his wifes salary provides well for their family, he is
concerned about the rapid change in the way of life. He is also aware of
the rising inflation and spiralling education expenses.Moreover, he is
cognisant that life is uncertain and the future of his family, especially
his son needs to be protected. He relies on AEGONReligares Rising Star
Insurance Plan.
His plan details are as follows:
Cover Amount (Base Sum Assured): Rs.10 lakhs, Policy Term: (25 age
at entry of child) =23 years, Premium Payment Term: 23 years, Annual
Premium: Rs.50, 000 (exclusive of service tax).
Comparison between different companies child plan
AEGON RELIGARE
41
FEATURE
S
ARLIFE HDFC BHARTI AXA
DEATH
BENIFIT
1.Higher of SA or
105% of
Total premiums
paid
immediately
2.Future
premiums paid
by
ARLI into fund
3.Income benefit
equal to
annual premium
paid every
year to child till
age 25 years
4.Fund value
paid at maturity
1. Highestof SA
or 105% of
total premiums
paid
immediately
2. Fund Value
paid on
maturity
PLUS
Save Option:
Future
premiums paid
by HDFC life
into fund
Save n Gain
Option: 50%
of future
premiums paid
by
HDFC life into
fund and 50%
of the future
premiums paid
on an annual
basis to
beneficiary
1. SA paid immediately
2.Future premiums
paid
by Bharti AXAinto
fund
3. Option of Income
benefit equal to 10% of
Sum Assured every
year to
child till maturity
4. Fund value paid at
maturity
RIDER ADD,CI NO NO
WAIVER YES YES YES
INCOME
RIDER
YES NO NO
AEGON RELIGARE
42
In case of your death during Policy Term, benefits to nominee:
o Higher of cover amount (Sum Assured) or 105% of all
premiums paid immediately
o All future premiums waived off and paid by the company
into the Policy Fund value, policy continues
o Amount equal to the annualized premium excluding rider
premium will be paid every year to the nominee
o On maturity, Policy Fund Value will be paid
In case you survive the Policy Term, you will receive the fund
value existing on the maturity date
Auto rebalancing of funds
Partial Withdrawal
Tax benefits as per prevailing tax laws. Please consult your tax
advisor for details.
This plan not only makes provision for your childrens future
(maturity benefit) but also ensures that their future remains
secured in case of your unfortunate death (death benefit +policy
continues +income benefit).
Conclusion
Rising star is the only child plan having income benefit rider
Various riders are also available
It is important to have child plan
AEGON RELIGARE
43
Target market for child plan
Financially securing the childsfuture and savingfor his / her
educational expenses is an important need of all parents. This plan is
thus suitable for all parents who have children between the age group
of 0-15 years and are looking for a unit-linked plan with long term
investment in mind.
AEGON RELIGARE
44
DATA ANALYSIS AND INTERPRETATION
These questions were asked to 100 customer and client and based on
their answers this interpretation these data are analyzed.
1.Are you aware about AEGON RELIGARE and its product before you
got into contact with an executive?
Out of 100 around 49 said they were not aware,36 said they were
aware about the company and 15 people said they knew but partially.
.Do you have any ULIPs plan?
Sales
NOT AWARE
AWARE
PARTIALLY AWARE
AEGON RELIGARE
45
Out of 101 clients 64 said they dont have any where as 37 said they do
have such plan.
3.Do you want to take AEGON Religare ULIPs plan?
Out of 100 client/customer 33 said they WILL TAKE IN FUTURE,17 SAID
THEY ALREADY TOOK,26 SAID THEY ARE NOT SURE AND 23 SAID THEY
DONT WANT.
Out of 101 clients 64 said they dont have any where as 37 said they do
3.Do you want to take AEGON Religare ULIPs plan?
Out of 100 client/customer 33 said they WILL TAKE IN FUTURE,17 SAID
THEY ALREADY TOOK,26 SAID THEY ARE NOT SURE AND 23 SAID THEY
Out of 101 clients 64 said they dont have any where as 37 said they do
Out of 100 client/customer 33 said they WILL TAKE IN FUTURE,17 SAID
THEY ALREADY TOOK,26 SAID THEY ARE NOT SURE AND 23 SAID THEY
No
YES
AEGON RELIGARE
46
4.Do you compare between different insurance
companies while taking the plan?
DONT WANT
NOT SURE
THEY ALREADY TOOK
THEY WILL TAKE
AEGON RELIGARE
47
Interpretation
66 out of 100 said they dont compare while 33 said they do such research before
buying.
5.Do you see child plan useful in meeting childs need in
future as per increasing inflation in edaucation?
Sales
NO
YES
AEGON RELIGARE
48
Not Sure-28 No-34 Yes-38
Interpretation
Out of 100 customer and clients 28 said they are not sure, where as 33
said they dont think so and 38 said that they think it will work out.
6.Do you want child plan for your child?
AEGON RELIGARE
49
Interpretation
64 out of 100 said they want one child plan,20 said they are not sure,whereas,16
said they dont want any such plan.
7.Do they feel ULIPsis important to take?
yes no not sure
AEGON RELIGARE
50
Interpretations
76 out of 100 think that its important to have such product for any
uncertainity.whereas,24 people dont think so.
TABLE 1:
CLASSIFICATION OF RESPONDENTS ONTHE BASIS OF OCCUPATION
Occupation No of respondents % of
Respondents
Self Employed 37 37
Student 05 05
Govt. employee 10 10
Yes
no
AEGON RELIGARE
51
Professional 25 25
Pvt. Employee 23 23
Total 100 100
Concept of the table
The above table shows classification of respondents on the basis of occupation.
Analysis
Maximums of 37% of the respondents belong to Self employedcategory. Another
25 % are professional. Working professional 23% share of the respondents. 10 % of the
Govt. Employees. students occupy 5% of the total sample survey
GRAPH 3
CLASSIFICATION OF RESPONDENTS ON THE BASIS OF
OCCUPATION
AEGON RELIGARE
52
Inference
Hence it can be inferred that majority respondents are
employed.
Concept of the table
The above table shows whether respondents are insured.
Analysis
0
5
10
15
20
25
30
35
40
Self
employed
student
Hence it can be inferred that majority respondents are
The above table shows whether respondents are insured.
Govt.
employee
Professional Pvt.
Employee
No of respondents
No of respondents
Hence it can be inferred that majority respondents are Self
No of respondents
AEGON RELIGARE
53
Majority of 77 % respondents are insured and 23 % of the
respondents are not insured of the total survey.
SHOWING THE RESPONDENTS WHO ARE
No. of Respondents
Majority of 77 % respondents are insured and 23 % of the
respondents are not insured of the total survey.
Graph 5:
SHOWING THE RESPONDENTS WHO ARE INSURED
No. of Respondents
Majority of 77 % respondents are insured and 23 % of the
INSURED
Yes
No
AEGON RELIGARE
54
Inference
Hence it can be inferred that maximum respondents are insured.
TABLE 6
SHOWING THE RESPONDENTS WHO ARE SATISFIED WITH
THEIR CURRENT ULIPS
Particulars No. of Respondents Percentage
Yes 70 70%
NO 30 30%
Total 100 100%
Concept of the table
The above table shows whether the respondents are satisfied with their
ULIPs.
AEGON RELIGARE
55
Analysis
Majority of 70 % of the respondents are Satisfied with their ULIPs
and 23 % of the respondents are not of the total survey.
GRAPH 6
SHOWING THE RESPONDENTS WHO ARE SATISFIED WITH
THEIR CURRENT INSURER
AEGON RELIGARE
56
Inference
Hence it can be inferred that maximum respondents are satisfied
with their current Insurer.
TABLE 7:
No. of Respondents
Yes
No
AEGON RELIGARE
57
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THE PLANS
THEY ARE ULIPs IN ARLI
No. of Respondents % of Respondents
Protection 41 41
Investment 31 31
Pension plan 10 10
Unit linked youngster
plan
10 10
Saving 8 8
Total 100 100%
Concept of the table
The above table shows classifications of respondents on the basis of the
Plans they are Insured.
Analysis
Out of 100 respondents 41 % of them are insured in the
Protection Plan.31% of them are insured in Investment Plan. 10% of the
AEGON RELIGARE
58
respondents are equally insured in Pension Plan and Unit Linked
insurance plan. 8% of the respondents are insured in Savings Plan.
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THE PLANS
Inference
No. of Respondents
respondents are equally insured in Pension Plan and Unit Linked
8% of the respondents are insured in Savings Plan.
GRAPH 7:
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THE PLANS
THEY ARE INSURED
No. of Respondents
Protection
Investment
Pension Plan
Saving
Unit Linked Youngster Plan
respondents are equally insured in Pension Plan and Unit Linked
8% of the respondents are insured in Savings Plan.
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THE PLANS
Unit Linked Youngster Plan
AEGON RELIGARE
59
Hence it can be inferred that maximum respondents are insured in Protection Plan.
TABLE 8:
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THEIR
FAVORED INSURANCE COMPANY
Particulars No. of Respondents % of Respondents
LIC 45 45%
HDFC-SLIC 17 17%
ICICI 10 10%
Birla Sun Life 8 8%
Bajaj Allianz 8 8%
AEGON RELIGARE 2 2%
Others 10 10%
Total 100 100%
Concept of the table
The above table shows classifications of respondents on the basis of
their favored Insurance Company.
Analysis
The survey depicts that out of 100 respondents, 45% of them
favored is LIC. 17% of Respondents favored is HDFC-SLIC. 10% of the
AEGON RELIGARE
60
Respondents favored is ICICI.8% of them favored is Birla Sun Life,
another 8% of the respondents favored is Bajaj Allianz, 2% Respondent
favored to AEGON RELIGARE and the rest 10% of the respondents are
favored for other Insurance Companies.
GRAPH 8:
CLASSIFICATIONS OF RESPONDENTS ON THE BASIS OF THEIR
FAVORED INSURANCE COMPANY
AEGON RELIGARE
61
Inference
Hence it can be inferred that majority respondents are favored for LIC.
TABLE 9:
SHOWING THE DIFFERENT WAYS THROUGH WHICH THE
RESPONDENTS GOT AWARE OF ARLI
0
5
10
15
20
25
30
35
40
45
50
LIC HDFC-SLIC ICICI Birla Sun
Life
Bajaj
Allianz
ARLI OTHERS
No. of Respondents
No. of Respondents
AEGON RELIGARE
62
Particulars No. of Respondents % of Respondents
Advertisements 20 20%
Friends & Relatives 24 24%
Direct Selling Agents 42 42%
Others 14 14%
Total 100 100%
Concept of the table
The above table shows how the respondents came to know about
ARLI.
Analysis
The survey depicts that out of 100 respondents, 20% of them
came to know about HDFC-SLIC through Advertisements.24% of them
came to know through Friends and Relatives.42% of them came to
know about ARLI through Direct Selling Agents and the rest 14% of the
respondents came to know through other different sources.
AEGON RELIGARE
63
GRAPH 9:
SHOWING THE DIFFERENT WAYS THROUGH WHICH THE
RESPONDENTS GOT AWARE OF ARLI
Inference
Hence it can be inferred that majority respondents are became aware of ARLI
through Direct Selling Agents.
0
5
10
15
20
25
30
35
40
45
Advertisements Friends &
Relatives
Direct Selling
Agents
Others
No. of Respondents
No. of Respondents
AEGON RELIGARE
64
TABLE 10:
SHOWING THE RESPONDENTS INTERESTED IN THE
PRODUCTS OFFERED BY ARLI
Particulars No. of Respondents % of Respondents
Yes 60 60%
No 24 24%
Cant Say 16 16%
TABLE 12:
CLASSIFICATION OF THE RESPONDENTS ON THE BASIS OF THEIR
INVESTMENT INVESTED IN DIFFERENT COMPANIES FOR LIFE INSURANCE
Companies No. of
Respondents
Percentage
LIC 57 57%
HDFC Standard Life
Insurance
07 07%
ICICI Prudential Life
Insurance
10 10%
SBI 04 04%
Max New York Life
Insurance
05 05%
Tata AIG 03 03%
Bajaj Allianz 03 03%
Birla sunlife 04 04%
AEGON RELIGARE 02 02%
OTHERS O5 05%
Total 100 100%
AEGON RELIGARE
65
Concept of the table
The above table shows classifications of respondents on the basis of
their money invested in different Companies for Life Insurance
Analysis
The survey depicts that out of 100 respondents, 57% of them
favored is LIC. 10% of Respondents favored is ICICI. 02% of the
Respondents favored is ARLI. 4% of them favored is Birla Sun Life,
another 3% of the respondents favored is Bajaj Allianz and the rest 05%
of the respondents are favored for other Insurance Companies.
GRAPH 12:
CLASSIFICATION OF THE RESPONDENTS ON THE BASIS OF THEIR
INVESTMENT INVESTED IN DIFFERENT COMPANIES FOR LIFE
INSURANCE
AEGON RELIGARE
66
Inference
Hence it can be inferred that majority respondents have invested in LIC
SHOWING THE RESPONDENTS WHO AGREE
INSURANCE COMPANIES HAVE IMPROVED AFTER ALLOWING PRIVATE
PLAYERS IN INSURANCE SECTOR
Particulars
Yes
No
Total
No. of Respondents
Hence it can be inferred that majority respondents have invested in LIC
SHOWING THE RESPONDENTS WHO AGREE THAT THE SERVICES
INSURANCE COMPANIES HAVE IMPROVED AFTER ALLOWING PRIVATE
PLAYERS IN INSURANCE SECTOR
No. of Respondents % of the
Respondents
80 80
20 20
100 100
No. of Respondents
LIC
HDFC standard life insurance
ICICI Prudential Life Insurance
SBI
Max NewYork Life Insurance
Tata AIG
Bajaj Allianz
AEGON RELIGARE
Birla sunlife
Others
Hence it can be inferred that majority respondents have invested in LIC.
THAT THE SERVICES
INSURANCE COMPANIES HAVE IMPROVED AFTER ALLOWING PRIVATE
% of the
Respondents
80
20
100
HDFC standard life insurance
ICICI Prudential Life Insurance
Max NewYork Life Insurance
AEGON RELIGARE
AEGON RELIGARE
67
Concept of the table
The above table shows whether respondents are agree that the
services of the insurance companies have improved after allowing
private players in the insurance sector
Analysis
As per the survey out of 100 respondents, 80% of them agree that
the insurance sectors have improved a lot after allowing the private
players in the Insurance Sector and 20% of them do not agree.
GRAPH 15:
SHOWING THE RESPONDENTS WHO AGREE THAT THE SERVICES
HAVE IMPROVED AFTER ALLOWING PRIVATE PLAYERS IN
INSURANCE SECTOR
AEGON RELIGARE
68
Inference
Hence it can be inferred that maximum respondents agree services of the insurance
companies have improved after allowing private players in the insurance sector
CLASSIFICATION OF THE REPONDENTS ON THE BASIS OF
THE SERVICE THEY EXPECT FROM THE COMPANY
Particulars No. of Respondents Percentage%
Easy Access ability
to Deposit center
31 31%
Time to time
premium collection
19 19%
Provision in case of
Dues
13 13%
No. of Respondents
Yes
No
AEGON RELIGARE
69
Bonus &other
schemes
37 37%
Total 100 100%
Concept of the table
The above table is shows the classification of the respondents on
the basis of the service they expect from the company.
Analysis
As per the survey out of 100 respondents, 31% of them would like the
Easy Access Ability to deposit Center service, 19% of them like the Time
to time premium collection service, 13% of them like Provision in case
of Dues service and the rest 37% of them like Bonus & other Schemes
service.

GRAPH 17:
CLASSIFICATION OF THE REPONDENTS ON THE BASIS OF
THE SERVICE THEY EXPECT FROM THE COMPANY
AEGON RELIGARE
70
Inference
Hence it can be inferred that majority respondents like the Bonus and other schemes
service.
Summary of Findings and Conclusion
Findings
Majority respondents are between age group of 24-35 years
On the basis of Sex the majority of the Respondents are Male.
No. of Respondents
Easy Access ability to Deposit
center
Time to time premium collection
Provision in case of Dues
Bonus &other schemes
AEGON RELIGARE
71
On the basis of Occupation majority of the Respondents are
employed.
Maximum respondents agree that it is essential to have ULIPs.
Maximum respondents are ULIPs
Maximum respondents are satisfied with their current company.
Maximum respondents are insured in ULIPs Plan.
Majority of the respondents are favored Insurance Company is LIC.
Majority respondents became aware of ARLI through Direct Selling
Agents.
Maximum respondents are interested in theULIPs Products offered
by ARLI.
Majority respondents concern is Tax Benefit while taking the
ULIPs.
Majority respondents have invested in LIC.
Majority respondents are only satisfied towards the Return
associated with their policy in ARLI.
Majority respondents want the company to work on Transparency.
Maximum respondents agree services of the insurance companies
have improved after allowing private players in the insurance
sector.
Majority respondents like the Bonus and other schemes service.
Majority of the respondents have rated good for the services given
by ARLI
AEGON RELIGARE
72
Majority of the respondents have found a great difference in Tax
Planning which is better in ARLI.
Majority of the respondents feel that ARLI provides value for their
money.
Majority of the respondents say they will purchase policies from
ARLI in future.
CONCLUSION
Our exhaustive research in the field of ULIPs threw up some interesting
trends which can be seen in the above analysis. A general impression
that we gathered during Data collection was the immense awareness
and knowledge among people about various companies and their
insurance products. People are beginning to look beyond LICfor their
insurance needs and are willing to trust private players with their hard
earned money.
People in general have been impression by the marketing and
advertising campaigns of insurance companies. A high penetration of
print, radio and Television ad campaigns over the years is beginning to
have its impact now.
AEGON RELIGARE
73
Another hearteningtrend was in terms of people viewing insurance as a
tax saving and investment instrument as much as a protective one. A
very high number of respondents have opted for insurance for such
purposes and it shows how insurance companies havebeen successful
to attract public money in recent times.
The general satisfaction levels among public with regards to policy and
agents still requires improvement. But therein lies the opportunityfor a
relative new comer like AEGON RELIGARE Life Insurance Company Ltd.
LIC has never been known for prompt service or customer oriented
methods and AEGON RELIGARE life insurance can build on these
factors.
DA is also playing very comprehensive role by regulating norms
mandating to private players in this sector, that increases the
confidence level of the customers to the private players.
SUGGESTIONS /RECOMENDATIONS
1) As the people think that insurance is a tool to protect their family
& tax saving device. They are aware of the fact & realizing its
importance. The company should try to expand & build up its
AEGON RELIGARE
74
infrastructure because there is a large potential for insurance in
India.
2) There is scope to sale insurance policy by concentrating on age
group 28-40 years here potential of Customer is there (Example.
Software Professional, BPO employees, and Professionals)
3) As per the survey the major respondents are males, it is advisable
to retain them and also check their further requirements to
retain them for a longer period.
4) Since AEGON RELIGARE Life Insurance Company Ltd is leading
with several companies policies it should be easy for them to
penetrate into the market and secure a good position if they pay
greater attention to the service part provided to their customer
and thereby forming a long and trusted relationship.
5) Protection Plan or Savings can be sold well by concentrating on
age group of 35-45 years. (Example. Government Employees and
Businessman)
6) As per the survey the major respondents are the Self employed
so the company should try to convince them to invest in the
Policies as per their basis Like Savings plan for the Pension,
Investment Plans for the Businessman, Retirement plan for the
Government employees, etc.
AEGON RELIGARE
75
7) As major respondents think to have Life Insurance policy is very
essential there is a lot of scope for Insurance Company.
8) As major of the respondents are insured, it is necessary to adopt
any good marketing strategies and also provide them the details
of various policies, Return on Investment etc. available in ARLI, so
that the respondents would might get insured in the company in
future.
9) ARLI should introduce attractive policies & also attractive bonus
on policies to attract more potential customers.
10)Majority of the respondents favorite company is LIC, as the
Company provides high returns as well as give maximum
guaranty on their investments and it is a Government oriented
Company so there will be maximum no loss, people think in
private companies there is no guaranty that their investment will
be safe, so the ARLI people should give guarantee for their
investments and the investments should be used in a particular
field or area in which there will be maximum no loss & as well as
gain trust of the respondents but providing different schemes,
incentives etc., and also give good returns so that the
respondents get diverted from LIC to ARLI.
AEGON RELIGARE
76
11)There is a need for better promotion for the investment products
and services. The company should advertise its products through
television because it will reach to the masses.
12)Many of the respondents cant say whether they want to buy the
products offered by ARLI or not, so the company should provide
these respondents the complete details of the products through
their agents, etc. so that the respondents understand the benefit
of the products provided and takes the pleasure of buying them.
13)ARLI should try to build trust among the public by making people
aware of their investment is safe, high return on vestment, tax
benefits.
14)Maximum respondents are satisfied with the return provided by
ARLI, the company should now concentrate on what basis the
some of the customers who are not satisfied
15)As per the want of the customer, the company should provide
more returns.
16)The Government employees are very lenient in their work, after
introducing he private companies in the insurance sector ,the
delay in service provided by the Government Companies, the
customer would shift to private as they are always Punctual and
strict in providing their service
AEGON RELIGARE
77
Ex: BSNL broadband people do not provide service on time when
needed but the Airtel people provide the service as soon as it
required with no delay.
17)Approx 36% of respondents differ with their previous insurance
provider, they feel that ARLI is providing good Return for their
investment, so ARLI if possible try to provide more Diversified
return customer.
18)The ARLI should improve Effective Service as well as Good
Returns.
19)Respondents are willing to purchase ARLI Insurance policies in
future; this benefits ARLI as more potential customer in future.