SAAB MARFIN MBA

A REPORT ON COMPARITIVE STUDY OF UNIT LINKED POLICIES AND ITS MARKET RESEARCH

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EXECUTIVE SUMMARY
After privatization and liberalization in 1991,private sector is growing very fast across wide spectrum of Indian economy. A major part of such liberalization process is finance sector. That is also applicable to Insurance Industry. Large number of multinational companies in collaboration with the Indian companies is competing with the strong LIC.

At the same time bank rates are going down. So investors are going for alternatives. They are investing in market for good returns.

This report titled Comparison study of unit linked policies and its market research contains detail study of unit-linked policies and comparison unit linked schemes of different companies and also their market potential in Bangalore city.

The main object behind taking this project is to find outstanding terms and conditions of different companies who issue unit linked policies and market potential for unit linked policies. At the same time we are interested to know 1. Whether people are aware about unit linked policies or not? 2. What factor they are consider while purchasing unit linked policy? 3. What is their expectation from unit linked policy? 4. How much they want to invest in Life Insurance? 5. In which type of fund they prefer to invest.?

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Based on this an appropriate questionnaire was prepared. Data was collected through market survey . The data is analyzed using code sheet, percentages, averages, sums and weightages .

Findings

1. 96% of the people know about life insurance and 18% know about unit linked policy 2. Responded people ranked LIC as first, ICICI as second and Allianz Bajaj as third 3. Most people want to invest in Life insurance in the range of Rs 300000 to Rs 500000 4. The Responded people mostly want to invest in balanced fund.

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Above study shows that awareness of Allianz Bajaj is very low. But there is a potential market for unit-linked policies. So ALBJ should come up with some salient features to tap the market. They should come up with some special offers like giving bonus or fixing some minimum guarantee amount.

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BACKGROUND

AN INTRODUCTION:

The insurance industry in India is evolving and assuming different proportions since it was privatized. There was a time when only traditional insurance products used to dominate the arena, but

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with innovation coming into play, unit-linked/market-linked products have also found a place.

It is worth mentioning here that world over unit-linked products constitute quite a substantial chunk of the total portfolio of insurance companies.

The

emergence

of

unit-linked insurance

policies

combines the characteristics of both endowment insurance policies and mutual funds. With falling interest rates questioning the economics of traditional products, most insurers are launching unit-linked policies.

In the developed market, products more in common with mutual funds have overtaken traditional life insurance products. Customers too are looking for products that give stability of returns in the long run and total protection.

In India, Birla Sun Life, ICICI Prudential, Allianz Bajaj, LIC are the some life insurance companies dealing in unit-linked insurance products.

HOW THE UNIT LINKED PLAN WORKS?

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Unit linked plans combines the protection of life insurance and benefits of mutual fund .The main reason for increasing interest towards unit linked plans is that they allow you to earn more return on your investment in this declining interest scenario, and at the same time offer financial protection to your family in unfortunate event of your death. They also allow you the flexibility of withdrawing or surrendering your unit wholly or partially to meet any contingency like your childrens education marriage, etc.

Unit linked plans come in the form of units where the premium paid by you is used to buy units and an investment fund is allotted to you. Most of the companies offer two or more options to you with regard to the fund. The choice of the fund allows you to determine as to how much premium paid by you should be invested and in which financial instrument. The performance of the fund depends upon the current value of units in the market.

For e.g. if current value of unit is Rs 10/- and you pay annual premium of Rs 10000/-, than the number of units you buy with this premium is 1000 units. If the market is bullish and the value of a unit become Rs 13 /- then you can surrender the units for a profit.

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According to the IRDA, a company offering unit linked plans must give the investor an option to choose among debt, balanced and equity funds. If you opt for a unit-linked endowment policy, you can choose to invest your premiums in debt, balanced or equity funds. If you choose a debt fund, the majority of your premiums will get invested in debt securities like gilts and bonds. If you choose equity, then a major portion of your premiums will be invested in the equity market. The type of fund you choose would depend on your risk profile and your investment need. In case of death during the premium paying term or the term of the policy, the sum assured, or value of policy fund, whichever is higher, is paid to the beneficiaries. In case of survival up to maturity, the value of the fund is paid out. Therefore, the risk here is transferred to the policyholder and nothing is guaranteed. So, if the fund value falls below the amount invested, the policyholder will receive a lower amount. Taking a closer look at charges and feesone comes to knows that, there is an initial administrative charge deducted every month from units. This could be very high, around 15% per annum in the first year, around 7% p a in the second and around 2-3% p a thereafter. Suppose you buy a policy wherein the annual premium works out to Rs 10,000, in the first year, Rs 1,500 would be deducted towards administrative charges, Rs 700 in the second year and around Rs 300 from the third year. These rates vary from company to company but are more or less in this range.

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There is an investment management charge too, which would vary according to the fund selected; for instance, an equity fund would attract a higher investment management fee of around 1% p a compared with a debt fund that might attract a fee of 0.25%. So continuing with the same example, a sum of Rs 100 would be deducted from the annual premium if an equity fund is opted for. Next, companies charge an annual administration charge. In case of some companies this charge is a flat rate, say, Rs 20 per month. In the case of others, this charge is again a percentage of net assets for each fund. Finally, there is a deduction for risk cover. This goes towards contribution to the sum assured or the life insurance cover. It is based on mortality rates as calculated by actuaries. For comprehensively summarising our example, we will assume the age of the male policyholder to be 30 years and sum assured Rs 1,00,000. Of a total premium of Rs 10,000 paid in the first year, Rs 1,500 is deducted towards initial administration fees, Rs 100 towards investment management fees (assuming the fund opted for is equity) and Rs 240 towards annual administration fees. That leaves a balance of Rs 8,160 in the first year. Out of this, Rs 169 would be deducted towards risk cover. Hence, finally Rs 7,991 would be invested in the fund. In the second year, the figure would stand at Rs 8,791 and third year onwards, around Rs 9,191 for the term of the policy. So, every time you make your premium payment, only a part of it is actually invested in the fund of your choice.

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Combination of mutual fund and insurance cover:

Unit-linked plans are a combination of an investment fund and an insurance policy. A major part of the premium amount received on such policies is invested in the stock market by the insurer in select funds depending on the risk level chosen by the customer. Mind you, this is after deducting administration charges and management expenses that may vary from one fund to the other.

Choice of Funds:
The customer has the option of choosing from debt, balance and equity funds. If the individual chooses a debt fund, a major part of his premia is invested in debt securities like gilts and bonds. But if it is equity, a major portion goes towards investments in the stock market. So depending on the risk profile the individual may choose his investment option.

Survival Benefits:
As regards survival benefits the fund value as on that date is paid to the individual.

Death Benefits:

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In case of death the individual is paid higher of the sum assured or the fund value standing to his account.

Fund Value:
The fund value is the value of your investment as on a given date. This is influenced by the ups and downs in the sensex.

So Fund Value = Unit Price x Number of Units

Switching between Funds:

The advantage one gets in case of a unit linked fund is that the working is similar to a mutual fund. One can ship out of a fund if he feels its performance is not up to the mark. Companies allow certain number of free switches in a year. For any more switches one may have to pay.

Risk Element:
On the face of it investment in unit-linked plans are not entirely safe. An element of risk is definitely in the hands of the individual. An individual choosing to park his funds in equities stands to gain or lose depending on the bull run in the stock market. When the market is buoyant he stands to gain handsomely but on the other hand he may lose heavily when it tanks out. Unit-linked insurance plans are all of a sudden much talked about, publicized and sold. While these are not a recent phenomenon, since a number of insurance companies already had these products as a part of their portfolio, of late these plans have seen sudden frenzy.

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It is perhaps the bull phase or the lure of market-linked returns that insurance companies have been shouting hoarse about that is responsible for these products outselling others.

While this is not to dissuade from purchasing unit linked covers it would be once own interest to take a peek at the market linked returns you can expect. And if you think that the entire premium you pay is invested in avenues chosen by you to maximize returns you could be wrong.

Expenses during the first year:

The insurance company towards various charges reducing the investable amount considerably deducts a substantial amount from your premium income. In the first year Allianz Bajaj through its Unit Gain SP Plus claims to allocate 100 percent of the single premium you invest but cancels units on a monthly basis towards various charges from your fund.

Accordingly Kotak Safe Investment Plan allocates 86 percent and LifeTime of ICICI Pru Life allocates 80 percent for amounts less than Rs 50,000 and 82 percent for those above Rs 50,000 towards investments.

Administration expenses:
The fund expense is the highest in the first year. ICICI Pru Life charges administration expenses of 20 percent of the premium for amounts below Rs 50,000 and 18 percent for amounts over Rs 50,000 in the first year while it is 7 percent for amounts upto Rs 20,000 in case of

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Kotak Safe Investment plan.

Again there are annual administrative charges that are as high as 1.25 percent per annum of net assets on Life Link of ICICI Pru Life and on Unit Gain SP Plus of Allianz Bajaj Life Insurance.

Mortality charges:
While the annual administrative charges stand at 1.25 percent of net assets for ICICI Pru Life and Allianz Bajaj Life Insurance the differences in mortality charges is quite a bit. ICICI Pru Life charges 1.48 per thousand of sum assured at age 30 while Allianz Bajaj charges 1.29 at age 31.

Switching:
Now what if you plan to switch from one fund to the other. ICICI Pru Life offers only one free switch every year and charges a switching fee of 1 percent for extra switches. In contrast Allianz Bajaj offers three switches free with subsequent switches charged at the rate of 1% of switch amount or Rs 100 which ever is higher while with OM Kotak s Safe Investment plan you can switch any number of times at no extra cost. Besides there are fund management charges that varies depending on the type of fund you choose to park your funds. OM Kotak charges 0.6 percent if you choose to invest in money market funds, on gilt funds it is 1 percent, on balanced funds it is 1.3 percent and on growth funds it is 1.5 percent.

Transaction costs:

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Also Allianz Bajaj charges transaction costs at 0.5 percent but not exceeding 0.7 percent of the equity investment while it is 0.1 percent not exceeding 0.2 percent of the debt investments. Moreover, there exist underwriting charges on the basis of the age of the individual. Know that when you buy unit-linked insurance products, a major part of the risk is transferred to you from the insurance company. Unit linked risk products may not be a good investment option when taken into account the high costs and the risk associated with volatile markets.

These products will entail regular monitoring since they are market linked and may perhaps be a good bet when the market is at a peak but if the market bottoms out you may lose heavily. So know that you are playing with your risk cover.

Unit-linked vs. traditional insurance products.

While in a unit-linked insurance product part of the premium paid by the policyholder goes towards administrative and mortality charges (that provides life cover) and the balance into an investment account, in a traditional policy (with or without profit policy), the premiums are put in a common fund, part of which is invested and part goes into paying for the risk cover.

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However, the entire profit from investment is not declared as bonus in a traditional policy. Some is held back by the insurance company to build reserves to pay end bonus and other returns.

Also, there is a chance of using the money to cross-subsidise other products i.e. paying more returns towards single premium products. The performance of the investible portion of premium in a unit-linked scheme is monitored in the form of mutual fund units.

Unit-linked insurance products allow policyholders to define their underlying investment with choices varying from a conservative to an aggressive option.

In effect, a customer can create his/her own personal investment plan backed by an insurance policy with at least a minimum guaranteed return, in some cases. On the contrary, a traditional policyholder has to rely on the investment manager.

Besides,

unit-linked

products

offer

benefits

like

transparency, liquidity and flexibility. The insured has the flexibility of changing the investment option after completing one policy year taking advantage of market movements to plan investments and earn returns, giving him complete control of his funds. Thus, in a scenario when the equity market is not performing well, a policyholder with high exposure to equities can switch to the option, which has a high proportion of fixed income instruments.

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Above all, as in the case of other insurance products, the premiums are taxing deductible and the benefits i.e. the maturity benefit, withdrawal, surrender and death benefits are all tax-free.

Mode of premium payment:

Paying single premium or regular premium in the form of yearly /half yearly, quarterly and monthly installment and premium paid by you is used to buy units.

Hence unit linked policies multiply your profits and brings you the return and liquidity of the stock market and the safety of the insurance at the same time.

Allianz Bajaj Life Insurance Company Limited

Allianz Bajaj Life Insurance Co. Ltd. is a joint venture between two leading conglomerates- Allianz AG, one of the

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world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world.

Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market, together are committed to offering you financial solutions that provide all the security needed for once family and oneself

Allianz Bajaj Life Insurance

Is the fastest growing private life Insurance company in India Currently has over Rs 3,00,000 p.a. satisfied customers Is backed by a network of 68 Customer Care Centers spanning 55 locations across the country One of India's leading private life insurance companies

COMPANY PROFILE Allianz Group

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Allianz Group is one of the world's leading insurers and financial services providers.

Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost 174,000 employees. At the top of the international group is the holding company, Allianz AG, with its head office in Munich. Allianz Group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of Property and Casualty Insurance, Life and Health Insurance, Asset Management and Banking.

ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE

Worldwide 2nd by Gross Written Premiums - Rs.4, 46,654 cr. 3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. AUM of Rs.51, 96,959 cr. 12th largest corporation in the world 49.8 % of global business from Life Insurance Established in 1890, 110 yrs of Insurance expertise 70 countries, 173,750 employees worldwide

Bajaj Group

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Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the largest manufacturer of two-wheelers and three-wheelers in India and one of the largest in the world.

A household name in India, Bajaj Auto has a strong brand image & brand loyalty synonymous with quality & customer focus.

A STRONG INDIAN BRAND- HAMARA BAJAJ

One of the largest 2 & 3 wheeler manufacturer in the world 21 million+ vehicles on the roads across the globe Managing funds of over Rs 4000 cr. Bajaj Auto finance one of the largest auto finance cos. in India Rs. 4,744 Cr. Turnover & Profits of 538 Cr. in 2002-03 It has joined hands with Allianz to provide the Indian consumers with a distinct. Option in terms of life insurance products

As a promoter of Allianz Bajaj Life Insurance Co. Ltd., Bajaj Auto has the following to offer - Financial strength and stability to support the Insurance Business A strong brand-equity. A good market reputation as a world-class organization. An extensive distribution network. Adequate experience of running a large organization.

Shared Vision

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A household name in India teams up with a global conglomerate...

Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the largest manufacturer of two-wheelers and three-wheelers in India and one of the largest in the world.

A household name in India, Bajaj Auto has a strong brand image & brand loyalty synonymous with quality & customer focus. With over 15,000 employees, the company is a Rs. 4000 crore auto giant, is the largest 2/3-wheeler manufacturer in India and the 4th largest in the world. AAA rated by Crisil, Bajaj Auto has been in operation for over 55 years. It has joined hands with Allianz to provide the Indian consumers with a distinct option in terms of life insurance products.

As a promoter of Allianz Bajaj Life Insurance Co. Ltd., Bajaj Auto has the following to offer

Financial strength and stability to support the Insurance Business. A strong brand-equity. A good market reputation as a world class organization. An extensive distribution network. Adequate experience of running a large organization. A 10 million strong base of retail customers using Bajaj products. Advanced Information Technology in extensive use. Experience in the financial services industry through Bajaj Auto Finance Ltd

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BOARD OF DIRECTORS OF ALLIANZ BAJAJ ARE

1. Rahul Bajaj 2. Niraj Bajaj 3. Sanjivnayan Bajaj 4. Ranjit Gupta 5. Govind Prasad Laddha 6. J.Shridhar 7. Bajaj Auto Limited 8. Dr Wemer Zedelius 9. Heinz Dollberg 10. 11. Don Nguyen Alan Wilson

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Allianz Bajaj brings several innovative products, the details of which as followes

ALLIANZ BAJAJS PRODUCTS

Individual Plans

UNITGAIN A Unit Linked Plan UNITGAIN A Single Premium Unit Linked Plan INVESTGAIN An Endowment Plan CHILDGAIN Children's Policy CASHGAIN Money Back Plan SWARNA Retirement Plan RISK Pure Term Plan TERM Term Plan with Return-of-Premium LIFETIME Whole Life Plan SAVE CARE ECONOMY SP CARE CARE CARE VISHRANTI SP

Single Premium Endowment Plan LOAN A Mortgage Reducing Term Insurance Plan KEYMAN A Promising Business Opportunity INSURANCE PROTECTOR

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.

Group Plans

GROUP Available for

CREDIT Employer Employee

CARE Groups

and Non Employer-Employee Groups GROUP Available for TERM Employer Employee LIFE Groups

and Non Employer-Employee Groups GROUP TERM LIFE Insurance) SCHEME

in lieu of EDLI (Employees Deposit Linked

COMPARISON STATEMENT
Particular s 1) Types Allianz Bajaj

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a) Flexi

Birla sun life

ICICI

LIC

a) Unit Gain

Save a) Lifetime b) Life link

a) Life Time b) Life Time SP

of policy Issued

b) Unit Gain SP Plus Endowment Plan b) Flexi cash money flow

back Plan c) Flexi Life

Line Plan

2) Eligibility 3)Minimu m premium amount ( in Rs)

From 1year to 60 From 30 days From 0year to From 12 years years Rs 10,000 regular Rs 25,000 single premium to 65 years 50,000 minor 75,000 adults 60 years for 18,000 or for 9,000 for half yearly 1,500 monthly. and for to 55 years p.a. 5,000regular 20,000 single

4) of Plan

Term Death is first

or

low As per policy At the age of 10 years 100 5,10,15,20,25o r30 or as per age for &

the balance whichever term

maturity 35years minor

15,20,25,30or

60,65,70,80 for adult 5) Premium payment frequency Yearly, yearly, Quarterly [Monthly Half Yearly, yearly, and Quarterly Single with premium Half Yearly, yearly, and Monthly Half Yearly, and yearly, Quarterly Single premium and Half

Single premium

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6) Maturity benefit

Total value of that

Total value of Total value of

Bid

value

of

you hold in fund that you hold that you hold the fund along /funds in fund /funds in /funds fund with maturity bonus at 5% of sum assured.

7)

Death Sum

assured Face

amount Sum assured -Death in 1st chosen Whichever higher or 6months 30% of S.A+fund is value -Death in 2nd half of 1st year 60% of S.A

benefit

chosen or value of + units Whichever higher is Policy fund

value of units

+ fund value -1st year & +

above S.A fund Value -On 10th year 5% SA bonus

of

+ bid value of fund```

8)

Free Three switches year.

free One free switch One every every year. switch year.

free Twice every the plan.

during term of

switches

9)Minimu m

For Single Premium

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Amount chosen by the

For Single Premium Min Max =Rs =Rs

and Min=1.01 time the SP Max=Y time the SP table

A g e Y 45 40 030 3135 36 -4 0 25 41 -4 5 15 46 -6 0 5

maximum Sum Assured

Where Y as per following customer

20,000

10,00,000 For Regular Premium Min Max =Rs =Rs

For Regular Premium Min=5 time AP Max=Y time the AP Where Y as per following table
A g e 0 3 0 Y 1 2 5 10 5 75 55 30 20 31 -3 5 36 -4 0 4145 46 -5 5 56 60

50,000

10,00,000

10)

Cash You may withdraw money You

may You withdraw

may After

withdrawa any time after 3 full years l option

withdraw time

years the any policy

money any money

after time after 3 holder full years can withdraw max 50%. of

4full years

11)Invest ment option

Equity Fund Balanced fund Debt fund Cash fund

Protecto r Builder Enhance r

Maximiser Protector Balancer

Secure d fund Balanc ed fund Risk fund

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The fund value is always depend upon the market condition. On the total premium the deductions are
Allocation charges Other charges

ALLOCATION RATES

Allianz Bajaj Yearl y Alloc ation (%) Cumula tive Allocati on (%) Com missi on (%)

Birla Sunlife Yearl y Alloc (%) Cum ulativ e Alloc ation (%) Com missi on (%)

ICICI Yearl y Alloc (%) Cum ulativ e Alloc ation (%) 35 5 80 92.5 172. 5 5 96 268. 5 5 96 364. 5 5 96 460. 5 5 96 556. 5 5 96 652. 5 5 96 748. 5 5 96 844. 5 5 96 940. 5 5 96 1036 .5 2 2 2 2 2 2 2 2 3 80 Co m mis sio n (%) 8 5

Om Kotak Yearl y Alloc ation (%) Cumula tive Allocati on(%) Commi ssion (%)

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ation

ation

Year 1 Year 2

30 98

30 128

40 5

35 96.5

35

86 86.5

86 182.5

10 3.50

127. 5 Year 3 99 227 5 95 222. 5 Year 4 100 327 5 95 317. 5 Year 5 100 427 5 95 412. 5 Year 6 100 527 5 95 507. 5 Year 7 100 627 5 95 602. 5 Year 8 100 727 5 95 697. 5 Year 9 100 827 5 95 792. 5 Year 10 100 927 5 95 887. 5 Year 11 100 1027 5 95 982. 5 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 100 1627 5 95 100 1527 5 95 100 1427 5 95 100 1327 5 95 100 1227 5 95 100 1127 5 95 1077 .5 1172 .5 1267 .5 1362 .5 1457 .5 1552 .5 5 96 5 96 5 96 5 96 5 96 5 96

86.5

279

3.50

86.5

375.5

3.50

86.5

472

3.50

86.5

568.5

3.50

86.5

665

3.50

86.5

761.5

3.50

86.5

858

3.50

86.5

954.5

3.50

86.5

1051

3.50

1132 .5 1228 .5 1324 .5 1420 .5 1516 .5 1612 .5

86.5

1147.5

3.50

86.5

1244

3.50

86.5

1340.5

3.50

86.5

1437

3.50

86.5

1533.5

3.50

86.5

1630

3.50

SAAB MARFIN MBA Non al l ocat ed am ount

Particulars

Allanz Bajaj

Birla Sunlife

ICICI

Om Kotak

Year 1 Year 2 Year3 Year4 Year5 Year6 Year7 Year8 Year9 Year10 Non allocation

70% 2% 1%

65% 7.5% 5% 5% 5% 5% 5% 5% 5% 5%

20% 7.5% 4% 4% 4% 4% 4% 4% 4% 4%

16% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5%

charge(cumulat ive)

73%

112.5%

59.5

47.5

In the long run say 20 years, the non allocation will be

Particulars

Allanz Bajaj

Birla Sunlife

ICICI

Om Kotak

Non allocation Charges(cumulat ive) Average allocation year will be non

73%

162.5%

99.5%

82.5%

per 3.65%

8.125%

5%

4.125%

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The main determinant of how policy operates is allocation of fund and growth rate of the company. The growth rates are available in the newspaper.

However, some insurers do guarantee a part of the return. Birla, for instance, guarantees a minimum return of 6% in case of Protector option, 4.5% in Builder and 3% in Enhancer. Birla, as of November 2003 has declared, since inception, a return of 13.55 % on Protector, 18.23% on Builder and 25.61% on Enhancer.

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY PROBLEM DEFINITION

In the market, bank interest rates are coming down

and peoples prefer other investment avenues like mutual funds. The main focus of this project is to know about unit-linked policy ( combination of mutual fund and life coverage), how this plan works in the market and how people consider its attributes and factors.

OBJECTIVE
The main objective of the research is to find potential market for the unit linked plans in Bangalore city.

SUB OBJECTIVES
1. To know potential market for life insurance. 2. To know awareness of different insurance companies. 3. To know which attributes people consider most important. 4. To know what factor people consider while purchasing unit linked policy. 5. To know the investment criteria 6. To know in which range people want to invest.

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Keeping above objective in mind a questionnaire was designed and field survey conducted in Bangalore city.

SAMPLE PROFILE

Businessmen, Employees and other are population for this project. Efforts were made to get the respondents with income of Rs 3,00,000 & more. Sampling units are taken from the Bangalore city.

SAMPLE SIZE
Sample size was 100 in Bangalore city

SAMPLING TECHNIQUE
Samples were chosen from different areas of Bangalore i.e. Jayanagar, M G Road, Corporation area, Electronics city and tried to

maintain 1:1:1 ratio of businessman, employees and other among the respondents

DATA COLLECTION PROCEDURE

Data collection for unit linked policy Secondary data collected from following source 1. Literature from Allianz Bajaj office

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2. Articles from Economictimes 3. Article from Insurance Cover Primary data was collected through field survey by framing the questionnaire

DATA ANALYSIS TECHNIQUE

The data collected was consolidated, the sum average was calculated. Various charts were prepared which helped to analyze the data better .Data analysis involved converting of recorded observation in to descriptive statement.

LIMITATION OF THE STUDY

1. The findings are relevant only to Bangalore city , however a generalized view can be applicable to cities with similar

characteristics. 2. Since the sampling technique was random, the finding might not give an accurate picture. 3. Since the time and cost were the a constraints, result may not be accurate, as surveyor could not survey the entire customer and potential investors. 4. Some of the customers could not give an accurate response to some of the questions

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SCOPE OF THE STUDY

The project includes

1. Study of unit linked policy. 2. The eligibility criteria of the applicant 3. Brief idea about the company called Allianz Bajaj life insurance company limited. 4. Comparison study of different unit inked policies of different companies 5. Terms and conditions of different companies unit linked policies 6. Different types of policies issued by Allianz Bajaj

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FINDINGS

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Findings:
1) Have you bought any Insurance policy/ know about unit linked policy?

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2) Rank the Insurance companies you are aware of?

Respondents ranked life insurance companies as below

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The ranking is 1. Life Insurance Corporation 2. ICICI 3. Allianz Bajaj Life Insurance Company Limited 4. Tata AIG Life Insurance Company Limited 5. Aviva Life Insurance Company Limited

3) Have you bought any unit linked policy?

Out of 100 samples only 2 people bought unit linked policy.

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4) Are you interested in buying unit linked policy?

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5)Rank the below attributes do you consider while purchasing?

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6) Rank

the

factors

do

you

consider

while

purchasing

Life

Insurance/Unit Linked policy?

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7) How much do you want to invest?

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8) In which fund do you prefer to invest(rank them accordingly)

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ANALYSIS
ANALYSIS HAS BEEN MADE IN THREE PARTS

Respondents in general Respondents whose income is more than Rs Rs 3,00,000 p.a. Respondents who knows about Unit Linked Policy

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RESPONDENTS IN GENERAL

INCOME OF THE RESPONDENTS

In Rs

Four types of income group has been responded, accordingly respective percentage has been given. 1. Below Rs 1,50,000 2. Rs 1,50,000-Rs 3,00,000 p.a. 3. Rs Rs 3,00,000 p.a.-5,00,000 4. Above Rs 5,00,000 28% 20% 30% 22%

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AWARENESS OF LIFE INSURANCE

Awareness of the life insurance is out of the 100 samples 2 peoples dont know about the life insurance.

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AWARENESS OF UNITLINKED POLICY

Out of 98 people 22% know about the unit linked policy.

RANKING OF LIFE INSURANCE COMPANIES

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Respondents ranked life insurance companies as below

The ranking is 1. Life Insurance Corporation 2. ICICI 3. Allianz Bajaj Life Insurance Company Limited 4. Tata AIG Life Insurance Company Limited 5. Aviva Life Insurance Company Limited

Respondents ranked Allianz Bajaj as 3rd among 6 life insurance companies.That means awareness is less about the company. Therefore company should take some measure to create awareness.

SAAB MARFIN MBA

While purchasing unit linked policy, people consider the attributes like Creation of estate, Life coverage, Mode of paying premium,
Withdrawal benefits, Saving component echo much importance they give to each attribute is given below

While

purchasing

life

insurance

people

considered most important is life coverage than Creation of estate than saving component than other attributes like maturity benefits, withdrawal benefits and mode of paying premium .the least important attribute is charges levied.

As people consider most important as life coverage, in the policy of Unit gain they should concentrate on Death benefits and life coverage period.

SAAB MARFIN MBA

After consideration of attributes the next step towards the purchase of life insurance by the prospective buyer are following factors 1. Brand Image 2. Risk Factor 3. Income 4. Age factor 5. Influence of relatives and friends 6. Market condition

Respondents considered very important as Risk factor than the factors like Income, Age, and Market conditions. Brand image

SAAB MARFIN MBA

as less important and Influence of relatives and friends as very least important. As people are tend to avoid risk and give more importance to risk factor it shows that people are willing to take risk.

PEOPLES INTEREST OF INVESTING IN LIFE INSURANCE

Respondents got a option of five categories as shown above. The response was Below Rs 1,00,000 Rs 1,00,000 2,00,000 Rs 2,00,000 Rs 3,00,000 p.a. Rs Rs 3,00,000 p.a.- 5,00,000 Above Rs 5,00,000 13% 13% 18% 27% 29%

SAAB MARFIN MBA

Most peoples are interested in taking the policy of Rs 3,00,000 p.a. to 5,00,000.Next to it is the policy of Rs2,00,000 to Rs 3,00,000 p.a..

PEOPLE S PREFERENCE OF INVESTING PREMIUM AMOUNT

Customer got several option to invest their premium .The preference according to respondents are given below

Rankings are given below 1. Balanced fund 2. Equity fund 3. Cash fund 4. Debt fund 25% 24% 23% 28%

SAAB MARFIN MBA

RESPONDENTS WHOSE INCOME IS MORE THAN RS Rs 3,00,000 p.a.

Ranking according to respondents whose income is more than Rs 3,00,000 p.a. 1. LIC 2. ICICI 3. Birla Sunlife

SAAB MARFIN MBA

4. Allianz Bajaj 5. Tata AIG 6. Aviva

Respondents whose income is more than Rs 3,00,000 p.a. considered attributes as below

Respondents considered very important attribute as Creation of estate, Saving components and life coverage. Next important as Mode of paying premium and next is Withdrawal benefits next is Maturity benefits and the least important is Charges levied. Respondents even consider Saving component and creation of estate as very important.

SAAB MARFIN MBA

Respondents whose income is more than Rs 3,00,000 p.a. considered factors affecting to buy life insurance as below

Respondent

considered

all

the

above-mentioned

attributes as most important In percentage most important is Age, Income, Market conditions, Risk Factor and least important is Brand image and influence of relatives and friends.

SAAB MARFIN MBA

Respondents whose income is more than Rs 3,00,000 p.a. considered the investment criteria as follows

Respondent

interested

to

invest

money

more

between

Rs3,50,000-5,00,000 p.a. Next is Rs2,00,000-3,50,000 p.a. and same percentage of people wants to invest in Rs1,00,000-2,00,000 p.a. and 19% want to invest in above Rs 5,00,000 p.a. and least people want to invest in below Rs 1,00,000 p.a.

SAAB MARFIN MBA

Respondents whose income is more than Rs 3,00,000 p.a. considered investing their money in following funds

Rankings are given below 1. Balanced fund 2. Cash fund 3. Equity fund 4. Debt fund 25% 22% 22% 31%

SAAB MARFIN MBA

OPINION OF THE RESPONDENTSWHO KNOW ABOUT THE UNITLINKED POLICY.

Respondents considered very important attribute as Life coverage next important as Withdrawal benefits next is Saving

components and Creation of estate next important as Maturity benefits next important attribute is Mode of paying premium and the least important is Charges levied. Here most important to note is every attribute is

considered important because all the percentage is more than 10%.

SAAB MARFIN MBA

Very important Less important Important Not important Least important

Risk factor Income, age Market conditions Brand image Influence of relatives &friends

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Respondents got an option of five categories as shown above. The response was Below Rs 1,00,000 Rs 1,00,000 2,00,000 Rs 2,00,000 Rs 3,00,000 p.a. Rs Rs 3,00,000 p.a.- 5,00,000 Above Rs 5,00,000 27% 09% 00% 09% 55%

SAAB MARFIN MBA

Rankings are given below 1. Balanced fund 2. Equity fund 3. Cash fund 4. Debt fund 25% 23% 20% 32%

SAAB MARFIN MBA

SUGGESTIONS:

1. The above study showed that the awareness about Allianz Bajaj is less . People ranked it 3rd in the life insurance companies .So

companies should take some measure to create awareness in the minds of customer .For that it may go for aggressive advertising campaign or sponsor for some events, go for banners or hoardings

2. The competitor companies of ALBJ is very strong in unit linked policies Birla Sunlife and LIC are going extremely well in the market.their growth rates are very high .So ALBJ should highlight their strong points like Choosing the sum assured Low allocation charges in the long run Good service Low switching charges Term of policy is unlimited Salary deduction schemes

3. The unit-linked policies are suitable to those who are active investors and at the same time they want to cover their life.

SAAB MARFIN MBA

4. There are various categories of people who can be differentiated like Men and Women Men usually take the risk, where as women hesitate to take risk. So this policy is more suitable to men Age factor Young people are more willing to take the risk, where old people are not. So it is suitable to young income people Income group If income of the person is high than he can take risk but low-income group cant take the risk. So this policy is suitable to high-income group people.

5. Life insurance is the classical example of unsought goods. The nature of that is the consumer does know about or does not normally think of buying. It requires personal selling support. So agents should be fully informative and they should be able to tell the entire information customer needed.

6. As awareness is branches

less , Allianz Bajaj

should open some more

so that acccess becomes easy. So that people can approach the company and take service.

SAAB MARFIN MBA

7. As people consider risk factor as very important company should give minimum guarantee of money so that people may consider this policy as most secured and also giving good profit. 8. Company should come up with group unit linked plans so that people may have option to go for unit-linked policy.

CONCLUSION

In new economy things are moving at a nanosecond pace; that our markets are characterised by hyper competition; that disruptive

technologies are changing every business and every business must adapt to the empowered consumer. In such an environment ALBJ is performing on a consistence basis. It is not a result of luck, trick plays or misfortune of the competitors, but service and attractive schemes of ALBJ. Allianz Bajaj sustained efforts are yielding superior long-term result.

The above study showed that unit linked policy has attractive market. But main problem is awareness. So Allianz Bajaj should create awareness among the people. They should explain the advantages they

SAAB MARFIN MBA

are getting out of unit-linked policy. They should come up with some salient features like different investment criteria, group investment plans etc.In India people are not willing to invest their money in market but they make idle investment. So it is the work of middlemen win the willingness of people to invest in market. Also company should concentrate on death benefit and term of policy.

BIBLIOGRAPHY

1. Donald .S.Tull & Hawkins Marketing research measurement and method, Prentice Hall of India Private Limited,New Delhi-2001 2. Literature available at Allianz Bajaj Branch office, Bangalore. 3. www.AllianzBajaj.com

SAAB MARFIN MBA

4. www.economictimes.com

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APPENDIX

MARKET SURVEY ON UNIT LINKED POLICIES Sir/Madam,

SAAB MARFIN MBA

I am MBA student studying in KLSs IMER ,Belgaum. I am doing survey on unit linked plans. Please co-operate and spare a few minutes of your time to fill up the following questionnaire. The information provided by you will be kept confidential since this project is for academic purpose.

Name Address Ph .No Gender

: : : : Age :

Profession/Occupation: Annual income: a) below 150000 c) 300000-500000 b)150000-300000 d) above 500000

1. Have you bought any Insurance policy / know about unit linked policy?
Yes No

2. Rank the insurance companies you are aware off LIC Birla Sunlife I CI C I 3. Have you bought any unit linked policy? Yes If Yes Company name : If No 4. Are you interested in buying unit linked policies Yes If yes From which company And why No No Allianz Bajaj Aviva Tata AIG

SAAB MARFIN MBA

5 . Rank the below attributes do you consider while purchasing Life Insurance/
Unit Linked policies (For very important 5 to least important 1) 4 3 2 1 Attributes 5 Creation of estate Life coverage Mode of paying premium Withdrawal benefits Maturity benefits Saving component Charges levied

6. Rank the below factors are you consider while purchasing Life Insurance/ Unit Linked policies (For very important 5 to least important 1) Factors Brand image Risk factor Income Age Relatives and friends Market conditions 5 4 3 2 1

7. How much do you want to invest? Below -10000 10000-50000 50000-100000

100000-200000 Above 200000

8. In which fund do you prefer to invest (rank them accordingly) Equity fund Debt fund Cash fund Balance fund

Thank you

SAAB MARFIN MBA

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 28 1 1 1 1 1 1 1 1 1 1 1 1 1 1

20

30

22

100

Know insurance Dont policy policy 1 1

know

insurance

dont know unit know unit linkedlinked policy policy

1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

1 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

96

18

SAAB MARFIN MBA

LIC 1 1 1 1 1 2 1 1 4 4 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2

Birla Sunlife

ICICI 2 3 2 2 3 4 2 3 5 3 2 2 2 2 2 2 2 2 2 2 2

Allianz Bajaj 4 5

Aviva

6 3

Tata AIG 3 2 3

4 2 1 3 4 4 5 5 4 4 5 3 6 6 4 4 3 5 2 4 3 3 5 3

1 3 2 1 5 3 3 4 4 3 3 3 4 4 4 2 2 5 4 4 4 3 4 2 6 4

6 3 5 6 6 6 6 6 6 6 6 6 5 3

5 6 2 2 3 5 3 3 5 5 4 3 3 5 3 3 3 3 6 5 5 4 3 5

2 2 2 2 3 2 2 5 2 1

6 6 5 6 6 6 4 6

SAAB MARFIN MBA

1 1 1 1 1 1 1 5 1 1 1 1 1 4 1 1 1 1 1 1 2 1 1 4 4 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 4 4 4 2 3 2 2 6 6 5 3 2

3 5 3 2 5 1

3 2 2 2 4 3 4 5 2 3 2 2 3 4 2 3 5 3 2 2 2 2 2 2 2 2 2 2 2

2 4 4 2 5 2 2

6 6 6 6 6 6

1 3 5 4 3 2 2 3 2 3

4 5

6 3

4 2 1 3 4 4 5 5 4 4 5 3 6 6 4 4 3 5 2 4 3 3 5 3 4

1 3 2 1 5 3 3 4 4 3 3 3 4 4 4 2 2 5 4 4 4 3 4 2 6 4 3

6 3 5 6 6 6 6 6 6 6 6 6 5 3

5 6 2 2 3 5 3 3 5 5 4 3 3 5 3 3 3 3 6 5 5 4 3 5 5

2 2 2 2 3 2 2 5 2 1 2

6 6 5 6 6 6 4 6 6

SAAB MARFIN MBA

1 1 1 1 1 1 5 1 1 1 1 1 4 1 LIC 552 222 366 286 94 228 4 4 2 2 6 3 2

3 5 3 2 5 1

3 2 2 2 4 3 4 5

2 4 4 2 5 2 2

6 6 6 6 6 6

1 3 5 4 3 2 2

1 2 3 4 5 6

85 4 0 6 2 0

6 5 4 3 2 1

510 20 0 18 4 0

Bought unit linked policy 2

552

Interested to buy unit li policy 9

1 2 3 4 5 6

4 6 16 24 14 4

6 5 4 3 2 1

24 30 64 72 28 4 222

1 2 3 4 5 6

2 52 16 6 6 0

6 5 4 3 2 1

12 260 64 18 12 0 366

SAAB MARFIN MBA

1 2 3 4 5 6 4 20 16 26 8 4 6 5 4 3 2 1 24 100 64 78 16 4 286

1 2 3 4 5 6

0 0 6 2 8 48

6 5 4 3 2 1

0 0 24 6 16 48 94

1 2 3 4 5 6

2 12 30 6 7 4

6 5 4 3 2 1

12 60 120 18 14 4 228

LIC 552

ICICI 366

Allianz Bajaj 286 16.36156 1748

Tata AIG 228 13.04348

Birla Sunlife 222 12.70023

Aviva 94 5.377574

31.57895 20.93822

SAAB MARFIN MBA

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32

Creation estate 1 5 1 2 3 2 3 2 1 1 3 3 1 1 2 2 3 4 1 5 2 2 1 1 1 1 1 1 2 2 3 1

ofLife coverage 1 1 1 1 1 5 2 1 3 1 5 2 5 2 5 2 4 2 2 2 1 1 1 2 2 1 2 2 1 1 1 1

attributes Mode of paying Withdrawal premium benefits 5 5 5 5 4 1 4 1 1 3 3 5 3 1 2 3 1 2 1 1 3 1 3 4 1 5 2 4 5 3 3 2 4 5 2 1 1 3 3 4 3 1 3 2 2 1 1 3 1 3 1 3 1 2 1 2 2 1 3 2 3 2 2 2

Maturity benefits 3 5 1 1 2 5 3 1 3 1 3 4 1 3 4 2 3 3 1 1 1 4 3 4 1 2 3 1 3 4 2 2

Saving component 2 5 1 1 1 4 2 3 2 1 3 2 1 4 3 1 4 2 1 2 1 3 1 2 3 2 2 3 4 1 1 1

Charges levied 4 5 1 3 4 5 5 4 3 2 4 5 5 4 5 3 4 3 5 3 1 1 4 5 2 4 2 4 5 5 4 4

SAAB MARFIN MBA

33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 2 1 1 1 1 1 3 2 3 7 4 1 2 2 2 1 1 1 5 1 2 3 2 3 2 1 1 3 3 1 1 2 2 3 4 1 5 2 2 1 1 1 1 1 1 2 2 3 1 2 1 2 2 1 2 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 5 2 1 3 1 5 2 5 2 5 2 4 2 2 2 1 1 1 2 2 1 2 2 1 1 1 1 1 3 1 2 2 1 5 1 3 1 3 4 3 3 3 3 1 5 5 5 4 4 1 3 3 2 1 1 3 3 1 2 5 3 4 2 1 3 3 3 2 1 1 1 1 1 2 3 3 2 3 1 3 1 1 3 2 4 2 1 2 1 3 1 2 2 2 2 5 5 1 1 3 5 1 3 2 1 1 4 5 4 3 2 5 1 3 4 1 2 1 3 3 3 2 2 1 2 2 2 1 1 1 1 3 4 3 3 1 1 2 1 2 3 3 4 3 3 3 5 1 1 2 5 3 1 3 1 3 4 1 3 4 2 3 3 1 1 1 4 3 4 1 2 3 1 3 4 2 2 1 1 3 1 1 2 4 1 1 1 3 1 4 2 2 3 2 4 2 5 1 1 1 4 2 3 2 1 3 2 1 4 3 1 4 2 1 2 1 3 1 2 3 2 2 3 4 1 1 1 1 2 4 4 4 5 2 5 3 1 4 4 5 5 5 5 5 5 4 5 1 3 4 5 5 4 3 2 4 5 5 4 5 3 4 3 5 3 1 1 4 5 2 4 2 4 5 5 4 4 2

SAAB MARFIN MBA

83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 1 1 1 1 1 3 2 3 7 4 1 2 2 2 1 1 382 16.89518 1 2 3 4 5 2 2 1 2 1 1 1 1 1 1 1 1 1 1 2 1 418 18.48739 42 28 16 4 4 1 2 2 1 5 1 3 1 3 4 3 3 3 3 1 5 342 15.12605 5 4 3 2 1 3 1 1 3 2 4 2 1 2 1 3 1 2 2 2 2 356 15.74525 210 112 48 8 4 382 280 120 6 4 8 418 5 4 3 2 1 150 64 102 16 10 342 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 1 3 4 3 3 1 1 2 1 2 3 3 4 3 3 358 15.8337 1 2 3 4 5 3 1 1 2 4 1 1 1 3 1 4 2 2 3 2 4 378 16.71827 30 30 20 8 10 4 4 4 5 2 5 3 1 4 4 5 5 5 5 5 5 216 9.553295 5 4 3 2 1

Creation of estate 1 2 3 4 5 56 30 2 2 8 Life coverage 1 2 3 4 5 30 16 34 8 10 5 4 3 2 1

Withdrawal benefits 32 16 34 14 4 Maturity benefits 38 26 18 14 2 Saving component 8 10 12 32 36

Mode of paying premium

SAAB MARFIN MBA

Charges levied

Brand image 5 5 1 1 1 5 4 1 1 3 2 4 1 3 5 3 3 1 3 5 1 2 3 4 4 3 1 4 5 3 1

factors Risk factor 1 1 1 1 1 5 1 3 2 1 4 1 1 2 4 1 2 1 2 4 1 1 2 1 2 2 1 3 1 2 5

Income 13 5 1 1 2 5 2 2 2 1 3 1 1 5 3 3 3 1 2 2 1 3 2 1 2 2 1 2 2 1 1

Age 3 5 1 2 3 5 2 1 2 1 1 1 1 5 4 2 1 1 2 3 1 2 1 1 1 2 2 2 2 2 3

Relatives&frien ds 3 1 5 2 5 1 5 4 5 4 3 5 5 5 3 5 4 1 4 2 2 5 4 3 5 3 1 5 4 4 2

Market condition 2 1 2 2 2 1 3 1 2 1 3 2 1 4 5 1 5 1 1 1 1 1 1 1 3 1 2 1 3 2 1

SAAB MARFIN MBA

2 1 3 3 3 4 5 1 3 1 1 1 3 5 3 3 5 1 5 5 1 1 1 5 4 1 1 3 2 4 1 3 5 3 3 1 3 5 1 2 3 4 4 3 1 4 5 3 1 2 1 2 2 2 2 1 1 1 1 1 1 1 5 1 2 1 1 1 1 1 1 1 1 5 1 3 2 1 4 1 1 2 4 1 2 1 2 4 1 1 2 1 2 2 1 3 1 2 5 1 1 1 1 1 2 1 2 1 2 1 1 1 1 1 2 1 2 3 13 5 1 1 2 5 2 2 2 1 3 1 1 5 3 3 3 1 2 2 1 3 2 1 2 2 1 2 2 1 1 1 2 1 1 1 1 1 4 2 3 1 3 1 2 1 2 1 3 2 3 5 1 2 3 5 2 1 2 1 1 1 1 5 4 2 1 1 2 3 1 2 1 1 1 2 2 2 2 2 3 2 3 4 4 4 4 3 3 3 1 3 4 5 2 1 4 4 4 4 3 1 5 2 5 1 5 4 5 4 3 5 5 5 3 5 4 1 4 2 2 5 4 3 5 3 1 5 4 4 2 3 2 1 1 1 1 1 5 5 5 1 3 3 4 1 1 2 3 3 2 1 2 2 2 1 3 1 2 1 3 2 1 4 5 1 5 1 1 1 1 1 1 1 3 1 2 1 3 2 1 2

SAAB MARFIN MBA

1 3 3 3 4 5 1 3 1 1 1 3 5 3 3 5 1 307 14.28571 1 2 3 4 5 2 2 2 2 1 1 1 1 1 1 1 5 1 2 1 1 1 1 1 1 2 1 2 1 2 1 1 1 1 1 2 1 2 3 1 1 1 1 1 4 2 3 1 3 1 2 1 2 1 3 2 4 4 4 4 3 3 3 1 3 4 5 2 1 4 4 4 4 1 1 1 1 1 5 5 5 1 3 3 4 1 1 2 3 3 386 2149 17.96184 100 42 5 32 4 14 3 4 2 6 1

414 400 394 248 19.26477 18.61331 18.33411 11.54025 32 5 160 1 6 4 24 2 30 3 90 3 12 2 24 4 9 1 9 5 307 280 104 12 12 6 414

210 128 42 8 6 394 60 40 60 64 24 248

1 2 3 4 5

56 26 4 6 6

5 4 3 2 1

1 2 3 4 5

12 10 20 32 24

5 4 3 2 1

1 2 3 4 5

46 32 12 0 6

5 4 3 2 1

230 128 36 0 6 400

1 2 3 4 5

48 20 16 4 10

5 4 3 2 1

240 80 48 8 10 386

SAAB MARFIN MBA

person want to invest Above 1Lakh-2 1Lakh Lakhs 1

2 Lakhs-33 Lakhs Lakhs -5Lakhs Above 5 Lakhs 1 1

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

SAAB MARFIN MBA

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

20 20

22 22

16 16

28 28

14 14

100

Equity fund 1 4 3 3 4 4 4 1 4 1 4 4 4 4 1 4 1 2 3 2 1

Debt fund 3 3 2 4 3 3 3 4 3 4 2 3 1 2 3 3 2 3 2 3 2

Cash fund Balance fund 4 2 2 1 4 1 2 1 1 2 1 2 2 1 3 2 2 1 3 2 3 1 1 2 2 3 3 1 4 2 2 1 3 4 4 1 1 4 1 4 3 4

SAAB MARFIN MBA

1 4 4 1 1 4 1 1 4 4 2 2 3 4 4 4 1 2 4 2 1 4 1 1 2 4 3 1 1 4 3 3 4 4 4 1 4 1 4 4 4 4 1 4 1 2 3 2 1 1 4 3 3 2 2 3 2 4 2 3 1 1 2 3 3 3 3 3 3 1 4 3 3 2 3 3 4 3 3 3 2 4 3 3 3 4 3 4 2 3 1 2 3 3 2 3 2 3 2 4 3 2 2 3 4 2 3 3 1 2 3 4 1 2 2 2 2 4 2 4 3 1 4 3 4 2 1 2 4 2 4 2 1 1 2 3 2 3 3 1 2 3 4 2 3 4 1 1 3 3 2 1 1 4 3 1 4 2 3 1 4 3 4 1 1 1 4 1 1 3 2 2 2 4 1 1 2 4 2 1 1 1 2 2 1 2 1 2 1 2 3 1 2 1 4 1 4 4 4 2

SAAB MARFIN MBA

4 4 1 1 4 1 1 4 4 2 2 3 4 4 4 1 2 4 2 1 4 1 1 2 4 3 1 3 3 2 2 3 2 4 2 3 1 1 2 3 3 3 3 3 3 1 4 3 3 2 3 3 4 3 2 2 3 4 2 3 3 1 2 3 4 1 2 2 2 2 4 2 4 3 1 4 3 4 2 1 2 1 1 4 3 1 4 2 3 1 4 3 4 1 1 1 4 1 1 3 2 2 2 4 1 1 2 4 9 8 0 1 0 0 1 2 3 4 18 34 26 20 4 3 2 1 72 102 52 20 246 1 2 3 4 40 26 10 22 4 3 2 1 160 78 20 22 280

232

222

246

280

23.67347 22.65306 25.10204 28.57143 1 32 4 128 2 14 3 42 3 10 2 20 4 42 1 42 232 1 2 3 4 8 24 52 14 4 3 2 1 32 72 104 14 222

SAAB MARFIN MBA