LIC VS BSLI

8/8/2019 LIC VS BSLI

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Performance evaluation of BirlaSun Life Insurance products incomparison with Life Insurance

Corporation (LIC)

A RESEARCHON

PRESENTED BY

SHIVAM GUPTA


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OBJECTIVES

INTRODUCTION

METHODOLOGY

ANALYSIS

FINDINGS

CONCLUSION

RECOMMENDATIONS

CONTENTS


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To find out the reason of low market

penetration of Birla sun life insurance.

To find out why people like to take LICplans in comparison to Birla sun life

insurance plans.

To study and determine thecompetitor (LIC) position in the

market.

Objective


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Birla Sun Life Insurance Company

Limited is a joint venture between The

Aditya Birla Group, one of the largestbusiness houses in India and Sun Life

Financial Inc., a leading international

financial services organisation.

The local knowledge of the Aditya Birla

Group combined with the expertise of

Sun Life Financial Inc., offers a

formidable protection for your future.

INTRODUCTION


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74%

26%

BIRLASUNLIFEINSURANCE

CO. LIMITED


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LIFE INSURANCE CORPORATION

OF INDIA LIC of India is one of Indias leading

financial institutions, offering

complete financial solutions thatencompass every sphere of life.

The LIC has a net of overRs. 1,800 crores

and employs over7,500 employees in itsvarious businesses. With a presence in

82cities in India and it services a customer

base of over 20, 00,000.


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PRIMARY SOURCES-

The study was conducted through survey method with the

help of questionnaire .

SAMPLE SIZE- 100

SAMPLE AREA- Bangalore R.T Nagar

SECONDARY SOURCES-

Internet

Newspapers

Magazines-

METHODOLOGY


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ANALYSIS

BSLI PLAN

In BSLI plan policy

term is 18 yearsless the age of

child at entry

BSLIS SERAL

JEEVAN PLAN

In BSLI plan entry

age is 1855 years

In BSLI min.

LIC PLAN

But in LIC plan

policy term is 525years

LICS SERAL JEEVAN

PLAN

LIC plan entry age

is 1260 years

In LI lan min.


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CONT

BSLI PLAN

BSLIs Retirement

plan In BSLI plan min.

premium is 9600

p.a.

BSLI Platinum plus

plan

In BSLI min. annual

premium is

LICPLAN

LICs New Jeevan

Suraksha plan.

In LIC plan min.

premium is 3000

p.a.

LIC Market plusplan

In LIC plan premium

is 10000p.a.

Entry age in LIC


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REASONS FOR LOWPENETRATION

OF BIRLA SUNLIFE INSURANCE There is no plan for the low income group.

Fees for the advisor is higher than the

other companies. Company does not penetrate on the rural

market at a time.

OLD HABITS DIE HARD: Its still difficult

task to win the confidence of publictowards private company.

The company is facing major threats

from LIC etc. which is an government

company.


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OPINIONS OF PEOPLE INSURANCE

SECTOR GOODOR BAD

90%

10%

YES

NO

Particular

s

No. ofrespon

dents

Yes90

No 10


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WHICHCOMPANYPOLICYMORE

PREFERED BY

PEOPL

E

Partic

ulars

No. of

respon

dents

BSLI 20LIC 80


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Do youthinkthatinvestment

in BSLIisbetterthanLIC ?

34%

66%YES

NO

Partic

ulars

No. of

respondent

sYes 34

No 66


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Innearfuture, doyouthink BSLI

willhavehighgrowthrate?

0%

5%

10%

15%

20%

25%

30%

35%

40%

AGREENETURAL

DISAGREECAN'TSAY

Series1

Particul

ars

No. of

respondent

sAgree 20

Neutral 26

Disagree 14

Cant say 40


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FINDINGS

90 people saying that investment in

insurance sector is good option and 10

are saying no. 20 people have BSLI policies and 80

have LIC policy.

66 people are saying that investmentin LIC is better than BSLI, 34 are

saying investment in BSLI is better.

26 people saying that BSLI growth


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CONCLUSION

From the above study conclusion is

derived that people have more policies

of LIC in comparison to BSLI.

People have more faith in govt.

companies than private sector

Companies.

So it is necessary for BSLI Co. that it

Should penetrate it,s market in rural

areas at a time

Insurance sector is very wide and co. can


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RECOMMENDATIONS BSLI Company should work in systematic

way.

Company should target each and everyclass of the society.

Information regarding new product should

be provided to the customers.

Charges should be low of the policies.

Annual premium should be reasonable.

At some level Company should provide

information to the customers about the


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THANK YOU

LIC VS BSLI

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