Customer Perception Towards

Endowment Plans of IDBI Federal

Life Insurance Company

Submitted by:
Mayank Rajbir Panchal
Roll no:03715603915

Content
About IDBI Federal
Objectives of the Project
Research Methodology
Data Analysis
Findings
Conclusion

About IDBI Federal Life

IDBI Federal Life Insurance is one of Indias

growing life insurance companies

Joint-venture of IDBI Bank, Federal Bank, and
Ageas, a multinational insurance giant based out
in Europe.
IDBI Federal was able to achieve breakeven
within just 5 years.
As on March 31, 2015, the company has issued
nearly 8.23 lakh policies with a sum assured of
over Rs. 51,918 crore.

Objectives of the Study

To find customer perception in respect to:
To know the age group buying the

endowment plan.
To find the occupation of the respondents.
To find out purpose of investment.
To understand the Financial Goal of the
investor.
To know the medium of purshaching the
policy.

Research Methodology
Research Type: Descriptive
The research methodology involves primary & secondary

research
The sampling technique was Convenience Sampling.
Sample size: 200
Sample Area: Central Delhi.
Instrument: Questionaire
The survey was conducted by visiting completely
different places like company offices, respondents home
etc..

Methodology

Questionnaire has been used as a tool for knowledge

assortment.
Have standardized answers that create it easy to

compile knowledge.
Questionnaires also are sharply restricted by the

actual fact that respondents should be ready to browse

the queries and reply to them.

Data Analysis
ANNUAL INCOME OF RESPONDENTS

5%
13%

14%
Below 2,50,000
2,50,000 - 5,00,000
5,00,000 - 7,50,000

30%

39%

7,50,000 - 10,00,000
Above 10,00,000

38.50% of the respondents are the one whos annual income is more
than up to 5 lacs, & 30% respondent's income is even more than
5lac.

The reason for Investment

According to the graph given below out of the total respondents, purpose
of investment being savings is 32.2%, as protection is 20.3%, as
investment is 39.1% and others is 8.4%, which clearly indicates that
investment is the preferred purpose of investment

Financial Goals

According to the graph given below out of 200 respondents, financial

goal being protection for 15.3%, wealth creation for 16.3%, Regular
Savings for 20.3%, Childs secure future for 12.4%, Retirement
Planning for 13.4%, Goal based savings like international0 vacation ,
new car, home for 13.9%, Protection for lifetime for 8.4%, which
clearly indicates the preference for regular savings.

Channel of Purchase

According to the graph given above out of 200 respondents,

the channel Through which the product is purchased by
Agency and Alliances is 22.8%, Bancassurance is 18.8%,
Direct Sales Force is 21.8%, Cross Sales Force is 19.3%,
through References 17.3%, which clearly indicates the
preference for agency and alliances.

Awareness about the

features
Fully Aware
Aware
Slightly
Aware

Awarness

12%
8%
22%

58%

According to the above graph 58% of the respondents are

fully aware about their endowment policy features, while
12% are not at all aware about the features of their
policy.

Findings
The respondents are well aware that they

have taken a endowment plan and know its

features.
The majority age group is18-30 for the plan.
The type of occupation was largely found out
to be salaried.
The purpose of investment is usually only
saving & tax benefit.
Saving under sec 80c attracts the investors.
Depends upon the comfort level of the
individual in selecting a medium to purchase.

CONCLUSION
We are just talking here only about

Endowment plans of IDBI.

The minimum premium amount is high
which cannot be afforded low income
individual.
A positive feedback is noticed towards the
IDBI wealth advisors.
Respondent with income more than 10lac do
not invest much in Endowment plan.
Higher survival benefits should be provided.