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Questionnaire

For Consumers of Insurance Products The information collected is intended to be used for pursue academic purposes. I shall be grateful for your valuable inputs and active co-operation. Kindly respond to all questions. You need not disclose your identity Tick () the appropriate answer where required 1. Which of these long-term savings you are aware of? (a) Life Insurance (b) (c) Fixed deposit Mutual Funds

(d) Securities (Shares and Debentures) (e) (f) 2. Post Office Savings Any other

Have you taken any life insurance policy Yes No If Yes From which source did you come to know about life insurance? News Papers and Magazines Television Agents/ Field sales representative Bank Telemarketing Internet Direct Mail If No Radio

3.

Direct Sales Executive Friend Others (pl. Specify)

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4.

What are the reasons that may have held you back from investing in life insurance products? (Please rate them on extent of impact) Very low Very High (a) (b) (c) (d) (e) (f) Lack of awareness Returns not lucrative enough Promotional measures not attractive Not approached by the intermediaries Inclination to short term lump sum gain Not affordable ) 1 1 1 1 1 1 1 2 2 2 2 2 2 2 3 3 3 3 3 3 3 4 4 4 4 4 4 4 5 5 5 5 5 5 5

(g) Any other ( 5.

If you are holding a life insurance policy, please mention the name of the policy that you taken and the name of the company? Name of the Policy :

Name of the company : 6. What prompted you to buy the life insurance policy from the company named by you? (please rate them on scale of importance) Very low Very High (a) Brand image of the Company (b) Excellent past record of performance (c)My friend/acquaintances have bought from this company (c) Marketing people insisted me to buy (d) Impressed the companys Ads and promotion (e) Desire to try out a new company (e )Any other ( 7. ) 1 2 1 2 1 2 1 2 1 2 1 2 1 2 3 3 3 3 3 3 3 4 4 4 4 4 4 4 5 5 5 5 5 5 5

Are you able to recall any Ad about life insurance in general and / or life insurance product in particular Yes No

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8.

If Yes What in the main message that you get from the Ad? Low (a) Risk coverage (b) Protection for the family (c) Long term savings (d) Tax savings (e) Provision for old age (f) Any other (Please Specify ) 1 1 1 1 1 1 2 2 2 2 2 2 3 3 3 3 3 3 4 4 4 4 4 4 High 5 5 5 5 5 5

9.

do you think that advertises (the life insurance company) wants you to know belief or do? (a) life insurance, a must for family protection (b) should go for compulsory long term savings (c) should express my love for family through life insurance (d) should have adequate risk coverage (e) can save tax through life insurance (f) can have peace and mental satisfaction (g)should have economic independence and dignity in old age (h) any other (Please specify ) Low 1 2 1 1 1 1 1 1 1 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 High 4 5 4 4 4 4 4 4 4 5 5 5 5 5 5 5

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How likely is it that the Ad will influence you to buy a life insurance product? (a)Ad is only a good source of information to me Agree Disagree

(b)Too many Ads by different companies create confusion (c) The actual product I buy in usually the same as advertised (d) It in hard to make a buying decision because of all the products to choose from

Agree

Disagree

Agree

Disagree

Agree

Disagree

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(e) Ads sometimes make high promises than actually experienced later on (f) I get promoted to make further enquires about the idea /product particularly its features and price. (g) The main reason a company comes out with Ads is to make more sales (h) Advertising tempts people to think seriously about their ourselves and their family (i) I like to buy products that have well known brand name (j) It seems wasteful for so many companies to produce the products with similar features. (k) Advertising and promotional costs unnecessarily raise the price which the consumer has to pay for a product (l) Even with so much advertising it is difficult to know which brand is best (m) The wide variety of competing products makes intelligent buying decisions more difficult (n) Advertising usually present correct and true picture of the product

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

Agree

Disagree

11. How do you made your purchase decision for life insurance product? (a) Consult other people to help choose the best alternative YES available from a product class (b) Try to buy the same brand that my friends/ colleagues have bought (c) Consult an Agent / Advisor before making final decision to buy (d) Base my decision on the brand value of the company and the product. (e) Achieve a sense of belonging by purchasing the same brands and from the same company that other purchase YES

NO

NO

YES

NO

YES

NO

YES

NO

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12. In selecting form many types and brands of the insurance products available in the market, would you so that I would not care at all as to which 1 2 3 4 5 I would care a great deal as to one by one buy which 13. How important would it be to you to make a right choice of the brand? Not at all important 1 2 3 4 5 very much concerned 14. Do you tend to stick to the same brand and remain loyal to a particular insurance company and its product? (a) I would rather stick with a brand I usually buy than try Yes No something I am not sure of (b) If I like a brand, I really switch from it just to try something different. (c) I got bored with buying the same brands and even if they are good. (d) When I see a new brand some what different from the usual, I make enquires. (e) I rarely read Ads that just seen to contain a lot of information (f) I feel the urge to buy something really different from the brands I usually buy Yes No

Yes

No

Yes

No

Yes

No

Yes

No

(g) I take chances in buying unfamiliar brands just to get some Yes No variety in my purchase 15. While purchasing a life insurance policy of a particular brand would you so that the commercial / Ads and other promotional campaigns used by the insurance company. (a) Remind you of the brand (b) I feel as though I were right there in the commercial expensing the same thing (c) I am compare the brand with other competing brands on matters that are important to me. (d) This commercial leaves me with a good feeling about using the brand that I have bought. Yes Yes No No

Yes

No

Yes

No

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16. Personal data (optional) i) Sex ii) Age group iii) Occupation Male 18-25 yrs 26-35 yrs Female 36-45yrs 46-55 yrs Above 55

Government /Public sector employee Pvt. Sector employee Self employed Professional (Doctor / Lawyer etc) Agriculturist Urban Marginal (wage earners) NRIs Media Person Others (Please Specify ) iv) Annual Income Less than Rs. 3,00,000 Between Rs.3,00,000 to 5,00,000 Between Rs.5,00,000 to 8,00,000 Between Rs.8,00,000 to 10,00,000 Above 10,00,000

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