SUMMER TRAINING REPORT

ON THE TOPIC
STUDY OF CONSUMER PERCEPTION AND LIFE INSURANCE POLICIES IN RELIANCE LIFE INSURANCE CO. LTD
BY VIKSIT JAIN
BBA-M 5TH SEM E.NO-02217001709

INTRODUCTION
COMPANY PROFILE *RELIANCE LIFE INSURANCE CO.LTD IS A PART OF RELIANCE CAPITAL LTD. OF THE RELIANCE ANIL DHIRU BHAI AMBANI GROUP (ADAG). *RELIANCE CAPITAL IS THE LEADING PRIVATE SECTOR FINANCIAL SERVICES COMPANY AND RANKS AMONG TOP 3 PRIVATE SECTOR FINACIAL SERVICES AND BANKING COMPANIES IN TERMS OF NET WORTH. *RELIANCE CAPITAL SEES IMMENSE POTENTIAL IN RAPIDLY GROWING FINANCIAL SERVICES SECTOR IN INDIA AND AIMS IN BEING A DOMINANT PLAYER

VISION Empowering everyone to live their dreams.

MISSION Create unmatched value for everyone through dependable, effective, transparent, and profitable life insurance policies. GOAL Emerge as a transnational life insurer of global scale and standard

Create best value for customers share holders and all stake holders
*Achieve impecable reputations and credentials through bestbusiness practice.

INDUSTRY PROFILE
In India, Insurance is a national matter, in which life and general insurance is yet a booming sector with huge possibilities for different global companies, as life insurance premiums account to 2.5% and general insurance premiums account to 0.65% of India's GDP. The Indian Insurance sector has gone through several phases and changes, especially after 1999, when the Govt. of India opened up the insurance sector for private companies to solicit insurance, allowing FDI up to 26%. Since then, the Insurance sector in India is considered as a flourishing market amongst global insurance companies. However, the largest life insurance company in India is still owned by the government.

HISTORY OF INSURANCE
The history of Insurance in India dates back to 1818, when Oriental Life Insurance Company was established by Europeans in Kolkata to cater to their requirements. Nevertheless, there was discrimination among the life of foreigners and Indians, as higher premiums were charged from the latter. In 1870, Indians took a sigh of relief when Bombay Mutual Life Assurance Society, the first Indian insurance company covered Indian lives at normal rates. Onset of the 20th century brought a drastic change in the Insurance sector. In 1912, the Govt. of India passed two acts - the Life Insurance Companies Act, and the Provident Fund Act - to regulate the insurance business. National Insurance Company Ltd, founded in 1906, is the oldest existing insurance company in India. Earlier, the Insurance sector had only two state insurers - Life Insurers i.e. Life Insurance Corporation of India (LIC), and General Insurers i.e. General Insurance Corporation of India (GIC).

PRESENT INSURANCE COMPANIES

There are more than 50 companies which provide insurance some of the companies that are tough competition to reliance life insurance are listed below-: LIC ICICI prudential life insurace co .ltd SBI life insurance co.ltd HDFC standard life insurance co ltd BIRLA sun life insurance co ltd MAX newyork life insurance co ltd Aviva life