A PROJECT REPORT ON:-

ABOUT METLIFE INDIA INSURANCE CO.Ltd.

By Mohammad Atif MBA, 2011-2012 Sun Institute of Management & Technology MetLife India Insurance Co. Ltd

MetLife India Insurance Co. Ltd, shahjahanpur

Submitted by: Mohammad Atif Sun Institute of Management & Technology Gutam Buddha Technical University Lucknow

Submitted to: Miss: Ena Gupta Sun Institute of Management & Technology Gutam Buddha Technical University Lucknow

CERTIFICATE FROM THE ORGANIZATION

Mr. Amit Pathak, Sales Manager, MetLife India Insurance Co. Ltd, Shahjahanpur.

CERTIFICATE BY THE GUIDE

CONTENTS PARTISULARS Acknowledgement Executive Summary Introduction Introduction of the Industry Life Insurance General Insurance Major Policy changes Changing Face of Indian Insurance Industry Various types of Life Insurance Policies Introduction of the Company Company Profile MetLife Inc. Values Management Insurance Plans/Products Research Methodology Objective Scope of study Sampling Methodology Limitations Survey Graph Analysis & Data Interpretation Findings & recommendations Findings & Recommendations Growth Potential Conclusion Bibliography Annexure Questionnaire

LIST OF GRAPHS Particulars [Fig 1] No of People Having Insurance [Fig 2] Types of Insurance Policy Respondents Have [Fig 3] Preferance of Respondents of Insurance Cos [Fig 4] Benefits of Insurance Perceived by Respondents [Fig 5] Features of Insurance Policy That Attracted Respondents [Fig 6] Peoples Perception About Insurance [Fig 7] Persons Having Insurance For [Fig 8] Reasons Behind Taking Insurance Policies [Fig 9] Satisfaction of Respondents With Respect to Policies [Fig 10] Satisfaction of Respondents With Respect to Agents [Fig 11] No of Respondents Paying Tax [Fig 12] Respondents Perception About Best Form of Investment [Fig 13] Peoples Perception of Appropriate Age For Buying Insurance [Fig 14] Peoples Opinion About Insurance Companies in India [Fig 15] What People Look For in Insurance Companies [Fig 16] People Interested In Going For Insurance Away From Their City [Fig 17] People Planning For New Investment

CERTIFICATE FROM THE ORGANIZATION

This is to certify that the project entitled About Metlife is a bonafide work of Mohammad Atif, a student of Sun Institute of Management & Technology, and was successfully conducted at, MetLife India Insurance Co. Ltd, , from (date of training) for the fulfillment of the course Master of Business Management (MBA) of SIMT, Shahjahanpur.

Mr. Amit Pathak, Sales Manager, MetLife India Insurance Co. Ltd, Shahjahanpur.

EXECUTIVE SUMMARY

In todays corporate and competitive world, I find that insurance sector has the maximum growth and potential as compared to the other sectors. Insurance has the maximum growth rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. This growth potential attracts me to enter in this sector and MET LIFE INDIA INSURANCE CO. LTD. has given me the opportunity to work and get experience in highly competitive and enhancing sector.

The success story of good market share of different organizations depends upon the availability of the product and services near to the customer, which can be distributed through a distribution channel. In Insurance sector, distribution channel includes only agents or agency holders of the company. If a company like MET LIFE INDIA INSURANCE CO. LTD, MAX NEW YORK LIFE, BAJAJ ALLIANZ, TATA AIG, etc has adequate agents in the market they can capture big market as compared to the other companies.

Agents are the best way for a company of Insurance sector through which policies and benefits of the company can be explained to the customer.

INTRODUCTION
Introduction of the Industry Introduction of the Company Company Profile Achievements Management Insurance Plans

THE HISTORY OF INDIAN INSURANCE INDUSTRY

Pvt. Ltd is a joint venture between MetLife International Holdings Inc. and its Indian partners including J&K Bank, M. Pallonji and Co, Karnataka Bank, Karvy Consultants, Geojit Securities, Way2Wealth, Bonanza Insurance (Pvt) Ltd. and Mini Muthoothu. MetLife is insuring the lives of the people for over 140 years. MetLife entered Indian insurance sector in 2001 and is now ranked 88th on the "FORTUNE 500 companies" list. MetLife was the first insurance company which established a financial holding company with a nationally chartered bank. Forbs magazine named MetLife as 'Best Managed Insurance Company for 2008'. For the three consecutive years from-2008 to 2010- MetLife found its place in Fortunes 'Best Admired Companies'. From 1999-2009, for 11 consecutive years, this insurance company was awarded as one of the "100 Best Companies for Working Mothers" by 'Working Mother' magazine. Today, when people are faced with financial burdens more than ever before, MetLife is helping millions of its customers in creating their own personal safety net by taking insurance plans. The plans provided by MetLife Insurance are listed below. The story of insurance is probably as old as the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era past few centuries yet its beginnings date back almost 6000 years

Life Insurance
In 1818 the British established the first insurance company in India in Calcutta, the Oriental Life Insurance Company. First attempts at regulation of the industry were made with the introduction of the Indian Life Assurance Companies Act in 1912. A number of amendments to this Act were made until the Insurance Act was drawn up in 1938. Noteworthy features in the Act were the power given to the Government to collect statistical information about the insured and the high level of protection the Act gave to the public through regulation and control. When the Act was changed in 1950, this meant far reaching changes in the industry. The extra requirements included a statutory requirement of a certain level of equity capital, a ceiling on share holdings in such companies to prevent dominant control (to protect the public from any adversarial policies from one single party), stricter control on investments and, generally, much tighter control. In 1956, the market contained 154 Indian and 16 foreign life insurance companies. Business was heavily concentrated in urban areas and targeted the higher echelons of society. Unethical practices adopted by some of the players against the interests of the consumers then led the Indian government to nationalize the industry. In September 1956, nationalization was completed, merging all these companies into the socalled Life Insurance Corporation (LIC). It was felt that nationalization has lent the industry fairness, solidity, growth and reach.

Some of the important milestones in the life insurance business in India are:
1912: The Indian Life Insurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective

of protecting the interests of the insuring public. 1956: The market contained 154 Indian and 16 foreign life insurance companies.

General Insurance

The General insurance business in India started with the establishment of Triton Insurance Company Limited. in 1850 at Calcutta. In 1907, the first company, The Mercantile Insurance Ltd. was set up to transact all classes of general insurance business. General Insurance Council, a wing of the Insurance Association of India in 1957, framed a code of conduct for ensuring fair conduct and sound business practices. In 1968 the Insurance Act was amended to regulate investments and to set minimum solvency margins. In the same year the Tariff Advisory Committee was also set up. In 1972, The General Insurance Business (Nationalization) Act was passed to nationalize the general insurance business in India with effect from 1st January 1973. For these 107 insurers was amalgamated and grouped into four companys viz., the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd., and the United India Insurance Company Ltd. General Insurance Corporation of India was incorporated as a company

Some of the important milestones in the general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. 1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalize the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

MAJOR POLICY CHANGES

Insurance sector has been opened up for competition from Indian private insurance companies with the enactment of Insurance Regulatory and Development Authority Act, 1999 (IRDA Act). As per the provisions of IRDA Act, 1999, Insurance Regulatory and Development Authority (IRDA) was established on 19th April 2000 to protect the interests of holder of insurance policy and to regulate, promote and ensure orderly growth of the insurance industry. IRDA Act 1999 paved the way for the entry of private players into the insurance market which was hitherto the exclusive privilege of public sector insurance companies/ corporations. Under the new dispensation Indian insurance companies in private sector were permitted to operate in India with the following conditions;
Company is formed and registered under the Companies Act, 1956;

The aggregate holdings of equity shares by a foreign company, either by itself or through its subsidiary companies or its nominees, do not exceed 26%, paid up equity capital of such Indian insurance company; The company's sole purpose is to carry on life insurance business or general insurance business or reinsurance business. The minimum paid up equity capital for life or gener al
insurance business is Rs.100crores.

The minimum paid up equity capital for carrying on reinsurance business has been prescribed as Rs.200crores.

The Authority has notified 27 Regulations on various issues which include Registration of Insurers, Regulation on insurance agents, Solvency Margin, Re-insurance, Obligation of Insurers to Rural and Social sector, Investment and Accounting Procedure, Protection of policy holders' interest etc. Applications were invited by the Authority with effect from 15th

August, 2000 for issue of the Certificate of Registration to both life and non-life insurers. The Authority has its Head Quarter at Hyderabad.

Changing face of Indian insurance industry:

Indian life-insurance market is the target market of all the companies who either want to extend or diversify their business. To tap the Indian market there has been tie-ups between the major Indian companies with other International insurance companies to start up their business. The government of India has set up rules that no foreign insurance company can set up their business individually here and they have to tie up with an Indian company and this foreign insurance company can have an investment of only 24% of the total start-up investment.

Indian insurance industry can be featured by:

Low market penetration. Ever growing middle class component in population. Growth of customers interest with an increasing demand for better insurance products. Application of information technology for business. Rebate from government in the form of tax incentives to be insured. Today, the Indian life insurance industry has a dozen private players, each of which are making strides in raising awareness levels, introducing innovative products and increasing the penetration of life insurance in the vastly underinsured country. Several of private insurers have introduced attractive products to meet the needs of their target

customers and in line with their business objectives. The success of their effort is that they have captured over 28% of premium income in five years. The biggest beneficiary of the competition among life insurers has been the customer. A wide range of products, customer focused service and professional advice has become the mainstay of the industry, and the Indian customers forms the pivot of each companys strategy. Penetration of life insurance is beginning to cut across socio-economic classes and attract people who have never purchased insurance before.

Life insurance is also now being regarded as a versatile financial planning tool. Apart from the traditional term and saving insurance policies, industry has seen the entry and growth of unit linked products. This provides market linked returns and is among the most flexible policies available today for investment. Now products are priced, flexible, and realistic and sustain so people in better position to understand the risk and benefits of the product and they are accepting these innovative products.

So it is clear that the face of life insurance in India is changing, but with the changes come a host of challenges and it is only the credible players with a long term vision and a robust business strategy that will survive. Whatever the developments, the future and the opportunities in this industry will surely be exciting.

Various types of life insurance policies:-

Endowment policies: This type of policy covers risk for a specified period, and
at the end of the maturity sum assured is paid back to policyholder with the bonuses during the term of the policy.

Money back policies: This type of policy is for periodic payments of partial
survival benefits during the term of the policy as long as the policy holder is alive.

Group insurance: This type of insurance offers life insurance protection under
group policies to various groups such as employers-employees, professionals, cooperatives etc it also provides insurance coverage for people in certain approved occupations at the lowest possible premium cost.

Term life insurance policies: This type of insurance covers risk only during
the selected term period. If the policy holder survives the term, risk cover comes to an end. These types of policies are for those people who are unable to pay larger premium required for endowment and whole life policies. No surrender, loan or paid

up values are in such policies.

Whole life insurance policies: This type of policy runs as long as the
policyholder is alive and is covered for the entire life of the policyholder. In this policy the insured amount and the bonus is payable only to nominee on the death of policy holder.

Joint life insurance policies: These policies are similar to endowment policies
in maturity benefits and risk cover, but joint life policies cover two lives simultaneously such as married couples. Sum assured is payable on the first death and again on the death of survival during the term of the policy.

Pension plan: a pension plan or annuity is an investment over a certain number of

years but does not provide any life insurance cover. It offers a guaranteed income either for a life or certain period.

Unit linked insurance plan: ULIP is a kind of insurance plan which provides
life cover as well as return on premium paid over a certain period of time. The investment is denoted as units and represented by the value called as net asset value

(NAV).

COMPANY PROFILE

MetLife India Insurance Company Limited (MetLife), is an affiliate of MetLife, Inc. and was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, PNB Bank Mr. Pallonji and Co. Private Limited and other private investors. MetLife is one of the fastest growing life insurance companies in the country. It serves its customers by offering a range of innovative products to individuals and group customers at more than 600 locations through its bank partners and company-owned offices. MetLife has more than 50,000 Financial Advisors, who help customers achieve peace of mind across the length and breadth of the country. MetLife, Inc., through its affiliates, reaches more than 70 million customers in the Americas, Asia Pacific and Europe. Affiliated companies, outside of India, include the number one life insurer in the United States (based on life insurance enforce), with over 140 years of experience and relationships with more than 90 of the top one hundred FORTUNE 500, companies. The MetLife companies offer life insurance, annuities, automobile and home

insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions.

MetLife Insurance:-

Celebrating 140 years, MetLife, Inc. is a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe, and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force).

FACT SHEET
Founded Started Operation Headquarters World Wide Web Address Managing Director Employees Financial Advisors 2001 FY 2001-02 Bangalore, India www.metlife.co.in Rajesh Relan 7688 56,072

Bancassurance Tie-Ups Number Of Products Presence Through MetLife Offices Presence Through Bank Partners

4 (J&K Bank/PNB Bank/M.Pallon ji Mistary & 2 other small investors) Over 20 products 192 offices in 131 cities 1910 offices in 686 cities

"Coming into your own",performing as a Leader to be really effective and successful by acting and making decisions independently to get results.

It's all about People, MetLife's key resource. MetLife will succeed because we are winning from within.

Functioning productively in teams towards a common purpose; realising the collective power of diverse work-groups.

Operating with an intense dedication to managing monetary resources for strong business results.

Conducting all business endeavors with truth,

Continuously creating and introducing new and

sincerity and fairness. Management:-(name and its post)

original ideas

PATNERS OF METLIFE
.

Geojit Securities was founded by Mr.C.J George in 1987 as a Proprietorship for doing Broking business in Cochin Stock Exchange. In 1994, the business was taken over by Geojit Securities Ltd, a Joint Venture between Mr.C.J George and the Kerala State Industrial Development Corporation Ltd. In the following year, the company came up with an IPO and the shares were listed in various Stock Exchanges in India in 1995.

Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938 and commenced its business from 4th July, 1939 at in Kashmir (India). The Bank was the first in the country as a State owned bank. According to the extended Central laws of the state, Jammu & Kashmir Bank was defined as a govt. Company as per the provision of Indian companies' act 1956. In the year 1971, the Bank received the status of scheduled bank. It was declared as

"A" Class Bank by RBI in 1976. Today the bank has more than 500 branches across the country and has recently become a billion Dollar Company.

Punjab National Bank Since inception in 1895, PNB has always been a "People's bank" serving millions of people throughout the country and also had the proud distinction of serving great national leaders like Sarvshri Jawahar Lal Nehru, Gobind Ballabh Pant, Lal Bahadur Shastri, Rafi Ahmed Kidwai, Smt. Indira Gandhi etc. amongst other who banked with us. PNB is a Banking giant with 100% brand equity and is one of the most credible banking brands with a network of 5600 branches all over the country. With over 60 million satisfied customers and more than 5100 offices including 5 overseas branches, PNB has continued to retain its leadership position amongst the nationalized banks. The bank enjoys strong fundamentals, large franchise value and good brand image. Besides being ranked as one of India's top service brands, PNB has remained fully committed to its guiding principles of sound and prudent banking. Apart from offering banking products, the bank has also entered the credit card, debit card; bullion business; life and non-life insurance; Gold coins & asset management business, etc. PNB has earned many awards and accolades during the year in appreciation of excellence in services, Corporate Social Responsibility (CSR) practices, transparent governance structure, best use of technology and good human resource management.

Mangaloreheadquartered Karnataka Bank, a leading private sector Bank having a network of 433 branches across 19 States and 2 Union Territories, is more than 84 years old. The Bank is a technology savvy, customer centric progressive bank with a national presence, driven by the highest standards of corporate governance and guided by sound ethical values. All the 433 branches of the Bank are under the umbrella of core banking solution. The Bank has a host of customer friendly deposit and advances products meeting the varied needs and preferences of its customers. The Bank offers a plethora of technology driven products like Internet Banking facility, Demat services, Mutual Fund products of reputed companies, Life and General Insurance services, Visa enabled Debit Card with wide acceptability across the globe. The Bank has an ambitious business turnover target of Rs. 35000 crores for the year 2008-09 with a branch expansion plan to reach the tally of 460 branches and additional ATMs to take the total to 180 by end-March 2009.

In 1982, a group of Hyderabad-based practicing Chartered Accountants started Karvy Consultants Limited with a capital of Rs.1,50,000 offering auditing and taxation services initially. Later, it forayed into the Registrar and Share Transfer activities and subsequently into financial services. All along, Karvy's strong work ethic and professional background leveraged with Information Technology enabled it to deliver quality to the individual.

Established in 1921, Mini Muthoottu with an illustrious history of banking behind them today operates from 75 branches in Kerala and 5 in Bangalore. All business concerns of Mini Muthoottu function under the strict guidelines set by the Department of Company Law Affairs and Reserve Bank of India. They also have a certificate of compliance with the

requirements regarding prudential norms from the Reserve Bank of India. Mini Muthoottu, under the able leadership of its Chairman, Mr. Roy M Mathew, offers both the resources and capabilities like any national player coupled with individualized attention to its customers

Corporate Social Responsibility

MetLife has always been committed to making a positive difference in the lives of the individuals andcommunities. Today, that commitment drives volunteer work and philanthropy across the globe.Working with non-profit organizations, MetLife supports programs that provide young people with theskills they need to succeed in life and create opportunities for people of all ages. MetLifes core values are personal responsibility, people count, partnership, integrity and honesty,innovation and financial strength. These values also shape the responsibility to the communities wherethe organization conducts its business.

Child Plan Met Bhavishya:MetLife offers 'Met Bhavishya' - a guaranteed money back plan that pays out funds to help to meet the education and career milestones of children. With this plan, the Life Insured is that of the parent. The plan also has inbuilt guaranteed additions to add value to the policy over its term.

There are two options to choose from and fixed term benefits, periodic additions & terminal additions are payable based on the option that select. The policy is suitable for parents with children between the ages 0-12 and parents in the age group of 20-50 years old.

Met Junior Endowment:MetLife offers 'Met Junior'- a flexible endowment plan that combines savings and security. Children's well-being is our highest priority. So MetLife offer a plan which offers both timely and efficient return on investment. All with a guarantee.

Met Junior - Non Par:-

On attaining maturity, the Person Insured will receive the Sum Assured.

Met Junior

Par:-

On attaining maturity, the Person Insured will receive the Sum Assured, the Reversionary Bonus and the Terminal Bonus, if any.

Met Little Star:When child is born, a star is born in family. And, parents would like to provide their star with all the building blocks that could develop his or her potential to the fullest. This could mean special instruction sessions for talented children, unique training gear for exceptional athletes or qualified training for born singers to provide that extra-edge.

To ensure this, parents would need an investment and protection package that is exclusively designed to help you plan for financial security, no matter what uncertainties life brings. Met Little Star a Unit-Linked, regular premium, child insurance plan helps parents do just that. It secures finances for child's educational needs and ensures that plans go as planned.

Met Junior Money Back:MetLife offers 'Met Junior Money Back' - a money back plan that combines savings and security. Child's well-being is our highest priority. So MetLife offer a money back plan which provides guaranteed periodic survival benefits at the end of 5, 10 & 15 years, along with guaranteed growth of savings.

A plan which offers both timely and efficient return on investment with payouts at different milestones.

Survival Benefit:-

At the end of 5 years At the end of 10 years At the end of 15 years

20% of Sum Assured 20% of Sum Assured 20% of Sum Assured

Upon survival to maturity 40% of Sum Assured plus total Guaranteed Additions

Met Magic:MetLife offers 'Met Magic', a Unit-Linked (non-medical, regular premium) life insurance plan (Non Par). Parents always want their little angel to have the best, in every sphere of life. You don't want your child to have to compromise. No matter what the circumstances. Met Magic, a unique life insurance plan, helps you secure the future of your loved one!

Retirement:-

Met Growth:-

MetLife offers 'Met Growth' - a Unit-Linked solution to help in golden years. It is specially designed to provide financial security for future requirements. This plan allows to start planning immediately by ensuring the safety of first year premiums. It also helps create retirement fund faster by giving you 100% allocation from the second year onwards, coupled with attractive loyalty additions into fund. Guaranteed . Entry Age (in completed years) Min 0 years (3 months to be completed) Max 60 years Min 18 years Max 75 years 15 / 20 / 25 / 30 years Regular Rs. 12,000

Maturity Age

Coverage Term Premium Payment Term Minimum Annualized Premium

Basic Sum Assured

Min - 5 times the Annualized Premium ***Other Sum Assured multiples - 10 times & 20 times the Annualized Premium. Monthly, Quarterly, Half-yearly, Yearly

Premium Paying Modes

Benefit Death Benefit

In the unfortunate event of death, the higher of the Sum Assured or the Fund Value would be payable. If death of the Person Insured occurs before age 7, the Fund Value plus the regular premium received by us in the first policy year is payable.

Maturity Benefit
On maturity, you will receive the Fund Value including the Guaranteed Loyalty Addition or you can opt for the settlement options.

Loyalty Additions

You get the guarantee of enhancing your wealth creation through guaranteed loyalty additions (up to 120% of the first year annual premium) at the end of the 10th & 15th year plus Guaranteed Additions as a % of the Fund Value.

At the end of the 10th year: 50% of the first year annualized
premium

At the end of the 15th year: Same pattran

Met Advantage Plus:MetLife offers 'Met Advantage Plus' - a Unit-Linked Pension Plan that allows to effectively and efficiently accumulate retirement needs. As the name suggests, it comes with many advantages.One can choose from eight annuity options, two life cover options and get tax benefits under Section 80 C and 10 (10 A). One can buy the plan without any hassles and invest more as you approach retirement by using the top-up functionality. All in all, its a plan which works harder when one stop working. For one, it ensures that you lead a comfortable lifestyle post retirement.

Entry Age (in completed years) Min 20 years Max 55 years Minimum Term 10 years

Minimum Vesting Age Maximum Vesting Age Minimum Premiums

45 years 65 years

Single Pay: Rs. 1,00,000 Regular Premium: Rs. 10,000 Premium Paying Term Single Pay & Regular Pay

Benefits

Death Benefit
In case of death during the accumulation period, the death benefit payable is:

Under Option A: A guaranteed amount of 110% of the Fund Value is payable to the nominee.

Under Option B: 100% of the Fund Value is payable to the nominee.

Vesting Benefit
On the vesting date, i.e. at the end of the accumulation term,you can take onethird of your retirement kitty as a tax-free lump sum and utilize the balance to buy annuities. Or you can use the entire retirement kitty to buy annuities.

Met Pension-Par:-

'Met Pension (Par)' serves as a friendly helping hand so one can stay financially independent even after retirement. It helps to build up a fund for golden years. With this plan,one can ensure his\her enjoy retirement as a happy new chapter.

Entry Age (in completed years) Min 18 years Max 60 years Minimum Term 10 years Minimum Vesting Age Maximum Vesting Age Minimum Sum Assured Maximum Sum Assured Minimum Annual Premium Rs. 4000 p.a. for Regular Pay Premium Payment Term Single Pay, Limited Pay (3 or 5 Pay) & Regular Pay 45 years 70 years Rs. 50,000 No Limit

Benefits:Death Benefit
In case of death while one is saving for retirement, the death benefit payable is: 1. Return of premiums. 2. Accrued reversionary bonus, if any.

3. Any insurance on the life of the Insured that may be provided by riders to this policy.

Vesting Benefit
On the vesting date, you can take one third of your retirement kitty as a tax-free lump sum annuities. The retirement fund on the date of vesting is equal to the Sum Assured plus Guaranteed Additions plus the compounded reversionary bonuses plus the terminal bonus, if any.

Guaranteed Additions

Savings:-

Met Sukh:MetLife offers 'Met Sukh'- a guaranteed money-back policy which provides guaranteed periodic survival benefits at the end of 5, 10, 15 & 20 years and guaranteed additions of 10% of the Sum Assured for the entire term. It not only covers your life, but also guarantees you cash payments at various milestones along with guaranteed growth of your savings.

Entry Age

Min - 15 years Max - 55 years 20 years

Coverage Term

Premium Payment Term Minimum Sum Assured Maximum Sum Assured

Regular Rs. 75,000 No Limit

Benefits: Death Benefit

In the unfortunate event of death of the Person Insured, the Sum Assured along with the Guaranteed Additions are payable. The policyholder is entitled to Guaranteed Additions of Rs. 100 per Rs. 1,000 of the Sum Assured for each completed year.

Maturity Benefit
On maturity, the life insured will receive the Survival Benefits plus the Guaranteed Addition.

Survival Benefits

At the end of 5 years At the end of 10 years At the end of 15 years Upon survival to maturity

20% of the Sum Assured 20% of the Sum Assured 20% of the Sum Assured 40% of the Sum Assured plus Total Guaranteed Additions

Met Suvidha:'Met Suvidha' is a flexible Endowment Plan that combines savings and security. In addition to providing you protection till the maturity of the plan, it helps you save for your specific long term financial objectives. This long term savings-cum-protection plan comes to a customer at affordable premiums. Met Suvidha is available in both participating as well as non-participating versions

. Minimum Entry Age Par: 15 years - 60 years Non-Par: 15 years - 70 years

Term

Par: - 15 years - 30 years Non-Par: 5 years - 30 years Single Pay, Limited Pay (5 or 10) & Regular Pay Rs. 2,500 Rs. 75,000 No Limit

Premium Paying Terms

Minimum Annual Premium Amount Minimum Sum Assured Maximum Sum Assured

Met Saral:MetLife presents 'Met Saral' - a non- participating endowment plan. As the name suggests, tests. All need to do is fill in a simple application form and are ensured a guaranteed maturity amount of Rs 100,000, even in the case of death during the term. Take the first step towards a better financial future for customer and his family. Ensure and insure the first Lak

Met 100:'Met 100' - a whole life policy where customer pay premiums for 15, 20 or 25 years. It helps create a legacy for the children, leaving money for a dependant spouse and, more importantly, provides insurance cover at affordable rates. Met 100 is available in participating as well as non- participating versions.

Non-Par Minimum Entry Age Maximum Entry Age 15 yrs 70 yrs for ppt of 15 yrs

Par 0 yrs 70 yrs for ppt of 15 yrs

65 yrs for ppt of 20 yrs 60 yrs for ppt of 25 yrs

65 yrs for ppt of 20 yrs 60 yrs for ppt of 25 yrs 70 yrs for life ppt 15, 20, 25 yrs Rs. 50,000 No limit (subject to UW) Met 100 Gold: Rs. 2,500 Met 100 Platinum: Rs. 7,500

Premium Paying Terms 15, 20, 25 yrs Minimum Sum Assured Rs. 50,000 Maximum Sum Assured No limit (subject to UW)

Minimum Annual Premium

Rs. 1,000 for issue age of < 15 yrs Rs. 2,500 for issue age of > = 15 yrs

Maturity Benefit Death Benefit Met 100 - Par

In the event of death, the Sum Assured plus the Reversionary Bonus and Terminal

Met 100 - Par

On maturity of the policy, the Sum Assured plus the Reversionary Bonus and Terminal Bonuses, if any, are payable.

Protection:-

Met Suraksha:MetLife offers 'Met Suraksha - Term Assurance (TA)', a non participating term assurance plan which provides life cover at a nominal cost. To put it simply, it is a life insurance plan that gives complete protection to enjoy life to the fullest. Customer can further customize plan with two riders Accidental Death Benefit and Critical Illness.

Met Suraksha TROP:MetLife offers 'Met Suraksha - Term with Return of Premium (TROP)', a non participating term assurance plan which provides life cover at a nominal cost. To put it simply, it is a life insurance plan that gives complete protection to enjoy life to the fullest. You can further customize your plan with two riders Accidental Death Benefit and Critical Illness.

Met Mortgage Protector:This plan which provides life cover for home loans taken for any period above 5 years. It is a decreasing term insurance with single and limited premium options. The plan covers an amount equal to the outstanding amount as per the policy schedule. It ensures the assets that have created stays with family.

Rural :None of us can be sure what tomorrow will bring. Shield your families against the unknown. MetLifes rural plans protect your loved ones against financial liabilities and help you save for tomorrow. All at affordable premiums

Met Vishwas:'Met Vishwas', - a single premium, micro insurance, non- participating term assurance plan which provides life cover at a nominal cost. On survival, customers get 110% or 125% of the premium.

Minimum Entry Age Maximum Entry Age Maximum Maturity Age Minimum Sum Assured

18 years 60 years 70 years Rs. 5,000

Maximum Sum Assured Policy Term Premium Paying Terms

Rs. 50,000 5 or 10 years Single Pay

Met Suvidha-Rural:-

Met Suvidha (Rural) is a participating flexible Endowment Plan that combines savings and security. In addition to providing protection up to maturity, it helps to save for specific long term financial objectives. This long term savings-cum-protection plan comes at affordable premiums.

Benefits: Met Suvidha Par

In the event of death during the term of the policy, the beneficiary will receive the base Sum Assured, the accrued reversionary bonus and terminal bonus if any.

Maturity Benefit Met Suvidha - Par

On maturity of the policy, you will receive the base Sum Assured, the accrued reversionary bonus and terminal bonus if any.

 It is an Endowment plan that offers both savings and life

insurance.

Flexible premium paying options to suit various income cycles. A plan which participates in the bonuses declared by the
company.

Customization possible with Accident Death Benefit, Critical

Illness, Term, Waiver of Premium Riders for comprehensive protection.

Investment:-

MetLifes Unit-Linked Insurance Plans ensure systematic enhancement of wealth. Be it

higher returns or the right blend of protection and wealth optimization, they help to ensure the right choice and peace of mind. (IN THESE POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER )

Met Easy:-

A simplified unit-linked plan which offers an opportunity to systematically build wealth and protection for you and your family.

10 years Minimum Age at 8 Entry Maximum Age at 55 Entry Minimum Premium Maximum Premium Sum Assured 20,000

15 years 3

20 years 0 (3 months to be completed) 50

50

15,000

12,000

6,00,000

4,00,000

3,00,000

5 times the annualized 7.5 times the annualized 10 times the regular premium regular premium annualized regular premium Yearly, Half-yearly, Quarterly, Monthly Yearly, Half-yearly, Quarterly, Monthly Yearly, Half-yearly, Quarterly, Monthly

Premium payment modes

Benefits-

Death Benefit
In the event of death: In the 1st Policy Year: Higher of 50% of the Sum Assured or the Fund

Value is payable. After the 1st Policy Year: Higher of 100% of the Sum Assured or Fund Value. If death of the Person Insured

before age 7, the Fund Value plus the Regular Premium received by us in the first policy year is

occurs

Maturity Benefit
On maturity, you will receive the Fund Value including Loyalty the

Loyalty Additions
With Met Easy, you get the benefit potentially enhancing wealth creation loyalty of your with

Addition or you can opt for the settlement options

additions that are added to your policy on . maturity.

Met Smart Gold

MetLife offers 'Met Smart Gold'- a Unit-Linked wealth creation cum protection plan for the well-heeled. It's specially conceived so that one can get a plan to match his specific financial requirements. If you are keen on investing lump sum amounts over a shorter horizon, this is the ideal plan for you.

Met Smart Plus-Regular Pay:'Met Smart Plus' a Unit-Linked Whole life plan that matures at age 100. If you want to protect your family from lifes uncertainties; at the same time, you wish insurance would

yield higher returns on your investments. You want your insurance policy to help realize all your dreams. Its a right plan to go with.

Entry Age (in completed years) Maturity Age Premium Payment Term Minimum Annualized Premium

Min 0 years (3 months to be completed) Max 70 years 100 years Regular Rs. 12,000

Minimum Basic Sum Assured Rs. 60,000 Premium Payment Modes Monthly, Quarterly, Half-yearly, Yearly

Met Smart Plus- Single Pay:Same as Met Smart Plus Regular but premium is payable in a single term or at the time of policy taken.

Met Smart Premier- Regular Pay:MetLife offers 'Met Smart Premier' a Unit-Linked Whole life plan that matures at age 100. You want to protect your family from lifes uncertainties; at the same time, you wish

insurance would yield higher returns on your investments. You want your insurance policy to help realize all your dreams.

Met Smart Premier- Single Pay:Payable lump sum at the time of policy taken.

Health:Met Health Care

Health problems strike unexpectedly. In addition to causing ill health, it can also scar financial health. One need to protect himself against such a situation through a health insurance plan. In order to ensure you are well protected to face any health condition that could befall you, MetLife presents - Met Health Care, a simple health insurance policy with unique and smart advantages for you and your family#. (# Family means spouse and two children. Every additional family member shall be underwritten as per the underwriting conditions laid by the Company from time to time.) Met Health Care is a long term health insurance plan from MetLife. This plan covers 1. Hospitalization expenses by providing a Daily Cash benefit as chosen by you. 2. 10 major Critical Illnesses by providing a lump sum benefit.

3. Total & Permanent Disability due to accident by providing a lump sum benefit.

Minimum/Maximum age of 18 years-55 years (At first entry, for the Principal insured) entry 3 months-55 years (For Secondary Insured lives) Cover ceasing age Maturity/Death Benefit Benefits Offered 65 years No Maturity/Death Benefit payable (a) Daily Hospitalisation Cash Benefit (b) Daily ICU Cash Benefit (c) Recuperation Benefit (d) Critical Illness Benefit (e) Accidental Total & Permanent Disability Benefit

Premium paying frequency Yearly. Half-Yearly mode is avaiable only if each of the persons insured choose a daily cash benefit of Rs. 3000 or more.

Illustration:Benefit Daily Hospitalisation Cash Benefit Option 1 Option 2 Option 3 Option 4 Rs. 4000 per day Rs. 6000 per day Rs. 10000 Rs. 3 Lakh Rs. 3 Lakh Option 5 Rs. 5000 per day Rs. 6000 per day Rs. 10000 Rs. 3 Lakh Rs. 3 Lakh

Rs. 1000 per day Rs. 2000 per day Rs. 3000 per day

Daily ICU Cash Benefit Rs. 2000 per day Rs. 4000 per day Rs. 6000 per day Recuperation Benefit Critical Illness Benefit Accidental Total & Permanent Disability Benefit Rs. 3000 Rs. 1 Lakh Rs. 1 Lakh Rs. 6000 Rs. 2 Lakh Rs. 2 Lakh Rs. 9000 Rs. 3 Lakh Rs. 3 Lakh

Benefits:Death/Maturity Benefit

There is no Death/Maturity Benefit under Met Health Care.

Tax Benefits
The premium paid (excluding the service tax) under this plan is eligible for Tax Benefits under Section 80 D of the Income Tax Act, 1961 as per the provisions and conditions given therein and are subject to any changes made in the tax laws in future.

Reasons to Buy
1. Coverage for the entire family. 2. 3. 4. 5. No Claim Discounts. Guaranteed Cover* till age 65. Payouts in addition to other Insurance Plans. Multiple Claims.

RESEARCH METHODOLOGY
Objective Scope of study Sampling methodology Limitations

RESEARCH METHODOLOGY TITLE:To Study About MetLife India Insurance co Ltd .

TITLE JUSTIFICATION:The above title is self explanatory. The study deals mainly with studying the buying pattern in the insurance industry with a special focus on MetLife India Insurance Co. Ltd. The various segments of the markets divided in terms of Insurance Needs, Age groups, Satisfaction levels etc will also studied.

OBJECTIVE :Main objective of the research is to have an analysis of life insurance industry in Jaipur. To accomplish this objective it has been divided into five. To determine reasons behind opting for an insurance. To know the most preferred policy. To determine customers perception towards private insurance companies and their expectation form private insurance companies. To determine the feedback on services provided by an insurance agent.

To study the types of benefits provided by insurance services.

SCOPE OF THE STUDY:A big boom has been witnessed in Insurance Industry in recent times. A large number of new players have entered the market and are trying to gain market share in this rapidly improving market. The study deals with reliance in focus and the various segments that it caters to. The study then goes on to evaluate and analyze the findings so as to present a clear picture of trends in the Insurance sector.

SIGNIFICANCE TO THE INDUSTRY:This is a limited study which takes into consideration the responses of 100 people. This data can be explorated to take in the trends across the industry. The significance for the industry lies in studying these trends that emerge from the study. It is a rapidly changing and evolving sector. People are only beginning to wake up to its vast possibilities. A study like this can attempt to guide the future of the industry based on current trends.

SIGNIFICANE FOR THE RESEARCHER:To facilitate and provide useful information for the study of the company and the insurance

industry and also provide recommendations for MetLife India Insurance Co. Ltd

RESEARCH DESIGN: NON-PROBABILITY & DISCRIPTIVE EXPERIMENTAL

EXPLORATORY RESEARCH

The research is primarily both exploratory as well as descriptive in nature. The sources of information are both primary & secondary. A well-structured questionnaire was prepared and personal interviews were conducted to collect the customers perception and buying behavior, through this questionnaire.

SAMPLING METHODOLOGY:Sampling Technique:

Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot study was done in order to know the accuracy of the Questionnaire. The final Questionnaire was arrived only after certain important changes were done. Thus my sampling came out to be judemental and convinent

Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These comprise of employees of MNCs, Govt. Employees, Self Employed etc.

Sample size:
The sample size was restricted to only 100, which comprised of mainly peoples from different regions of Shahjhanpur, due to time constraints.

Sampling Area:
The area of the research was Shahjahanpur, India.

LIMITATIONS OF THE RESEARCH

1. The research is confined to a certain parts of Jaipur and does not necessarily shows a pattern applicable to all of Country. 2. Some respondents were reluctant to divulge personal information which can affect the validity of all responses. 3. In a rapidly changing industry, analysis on one day or in one segment can change very quickly. The environmental changes are vital to be considered in order to assimilate the findings.

SURVEY
Graph Analysis Data Interpretation

DATA ANALYSIS & INTERPRETATION Q1:NUMBER OF PEOPLE HAVING INSURANCE RESPONSE

Yes No Total

NO. OF RESPONDENTS 70 30 100

SHARE (%) 70% 30% 100%

INTERPRETATION
Of the sample size of 100 surveyed respondents 70% of the respondents are having Insurance policy. 30% of the respondents are either not having any Insurance policy at present or their policy is already matured. And at present 100% of the respondents are with the view that Insurance is a tool to protect your family.

Q2:TYPES OF INSURANCE POLICY RESPONDENTS HAVE POLICY TYPE

Life Policy Non Life Policy Both

NO. OF RESPONDENTS 75 25 45

SHARE (%) 75 25 45

INTERPRETATION
75% of the respondents have only Life Insurance Policy. While 45% of the respondents have both.

25% of the respondents have only Non- life Policy.

[Some of the respondents opted for two or more than two items]

Q3:PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES COMPANYS NAME

L.I.C. Reliance Life Insurance Metlife India Ins. Co.Ltd Bajaj Allianze ICICI Prudential SBI Life Max New York Life TOTAL

NO.OF RESPONDENT 74 3 2 3 9 7 2 100

SHARE (%) 74 3 2 3 9 7 2 100

INTERPRETATION
74% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1 by that percent of respondents.

Q4:BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS BENEFITS

Cover Future Uncertainty Tax Deductions Future Investment TOTAL

NO.OF RESPONDENTS 55 20 25 100

SHARE (%) 55 20 25 100

[F ig4]
F uture Inves tm ent 25% Cover F uture Uncertainty 55%

T ax D eductions 20%

INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit of an insurance policy. Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and future investments respectively.

Q5:FEATURES OF INSURANCE POLICY THAT ATTRACTED RESPONDENTS FEATURE

Money Back Guarantee Larger Risk Coverage Easy Access to Agents Low Premium Companys Reputation TOTAL [Fig 5] REPUTATIO N OF COMPANY 11% LOW PREMIUM 30% MONEY BACK GUAARENT EE 15%

NO.OF RESPONDENTS 15 37 7 30 11 100

SHARE (%) 15 37 7 30 11 100

EASY ACCESS TO AGENTS 7%

LARGER RISK COVERAgE 37%

INTERPRETATION
Majority of the respondent (37%) found larger risk coverage as the most attracted feature of the all. Minimum respondents (7%) opted for easy access to agents.

Q6:PEOPLE INSURANCE RESPONSE

A saving tool A tax saving device A tool to protect your family

PERCEPTION

ABOUT

NO. OF RESPONDENTS 81 74 100

SHARE (%) 81% 74% 100%

INTERPRETATION
81% of the respondents have perception of Insurance being a saving tool. And 74% of the respondents have perception of Insurance being a tax saving device. But 100% of the respondents are with the view that Insurance is a tool to protect your family. [Some of the respondents opted for two or more than two items]

Q7:PERSONS HAVING INSURANCE FOR Response

Self Spouse Children Parents All

No of respondents 40 28 21 18 11

INTERPRETATION
Among that 42% people who having insurance, they have insurance 40% for self, 28%for spouse ,21% for children and 18% for their parents and 11% for all family member.

Q8:REASONS BEHIND TAKING INSURANCE RESPONSE

Tax saving Saving / Investment Family protection

NO. OF RESPONDENTS 80 80 100

SHARE (%) 80% 80% 100%

INTERPRETATION
80% of the Respondents opted for Insurance for tax saving benefits and saving/investment both. But all of them, i.e. 100% of the respondents have opted for insurance for their family protection. [Some of the respondents opted for two or more than two items]

Q9:SATISFACTION OF RESPONDENTS WITH RESPECT TO POLICY RESPONSE

Satisfied Not satisfied Not Responded Total

NO. OF RESPONDENTS 60 40 0 100

SHARE (%) 60% 40% 0.0% 100%

INTERPRETATION
60% of the respondents are more or less satisfied with their existing policy. 40% of the respondents are not satisfied with their existing policy. In this case all of those who have taken a policy have responded.

Q10:SATISFACTION OF +VE RESPONDENTS

WITH RESPECT TO SERVICE AGENT RESPONSE

Satisfied Not satisfied Not Responded Total Not R es ponded 0%

NO. OF RESPONDENTS 45 55 0 100

SHARE (%) 45% 55% 0.0% 100%

[F ig10]

Not s atis fied 55%

S atis fied 45%

INTERPRETATION
45% of the respondents are satisfied with their existing service agent. 55% of the respondents are not satisfied with their existing insurance agent. All of those who have taken a policy have responded.

Q11:NUMBER OF RESPONDENTS PAYING TAX RESPONSE

Paying tax Not paying tax Total

NO. OF RESPONDENTS 91 9 100

SHARE (%) 91% 9% 100%

INTERPRETATION
Of the sample size of 100 respondents, 91 respondents are paying tax.

Q12:RESPONDENTS PERCEPTION ABOUT BEST FORM OF INVESTMENT FOR SECURING THEIR FUTURE NO. OF RESPONDENTS
Fixed Assets Bank deposits Jewellery Securities i.e. bonds, MFs Shares Insurance

SHARE (%) 33% 5% 11% 17% 4% 30%

75 11 25 40. 10 70

80 70 60 50 40 30 20 10 0

F ix ed As s ets , 75

[F ig12]
Ins urance, 70 Bonds /Mutual F unds , 40 Jewellery , 25 B ank depos its , 11

S hares , 10

Fixed Assets Bank deposits

Jewellery

Bonds/Mutual Funds

Shares

Insurance

INTERPRETATION
75% of the respondents are with the view that Fixed Assets is the best form of investment for securing their future. 70% of the respondents are with the perception that Insurance is the best form of investment for securing their future, which is 2nd highest and this shows that insurance is an important key for securing your future.

[Some of the respondents opted for two or more than two items] Q13:PEOPLES PERCEPTION ON APPROPRIATE AGE FOR BUYING INSURANCE RESPONSE
After 25 years After 35 years After 45 years Anytime

NO. OF RESPONDENTS 29 10 0 61

SHARE (%) 29% 10% 0% 61%

INTERPRETATION
29% of the respondents are with the view that insurance should be bought after the age of 25 years. 10% of the respondents are with the view that insurance should be buyed after the age of 35 years. Whereas, 61% of the respondents are with the view that buying of insurance do not have

anything to do with age i.e. there is no age limitations. It can be purchased any time according to the need.

Q14:PEOPLE OPINION ABOUT INDIAN INSURANCE COMPANIES RESPONSE

Rigid plans Non user friendly Unsatisfactory services Non Aggressive Satisfactory Good Very good

NO. OF RESPONDENTS 67 29 26 35 24 10 0

SHARE (%) 67% 29% 26% 35% 24% 10% 0%

INTERPRETATION
67% of the respondents have the opinion that Indian Insurance Companies have Rigid plans. 29.5% feel that Indian Insurance companies are Non-user friendly. 26.5% feel that services of Indian Insurance companies are Unsatisfactory. 35.75% of the respondents are with the view that Indian Insurance companies are Nonaggressive. 24% of the respondents feel that products and services of Indian Insurance companies is Satisfactory. Whereas only 10.25% feel that it is Good enough. And according to the data, no single person has felt that it is very good.

[Some of the respondents opted for two or more than two items]

Q15:WHAT PEOPLE LOOK FOR IN AN INSURANCE COMPANY RESPONSE

A trusted name Friendly service & responsiveness Good plans Accessibility

NO. OF RESPONDENTS 82 71 81 49

SHARE (%) 82% 71% 81% 49%

INTERPRETATION
82% customers look for a Trusted name in a company for insurance. 81.5% customers look for a good plan in a company for insurance. Friendly service & responsiveness and Accessibility are also important factors looked by customers in a company.

[Some of the respondents opted for two or more than two items]

Q16:PEOPLE INTERESTED IN GOING FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVICE & PRODUCTS RESPONSE
Yes No Uncertain Total

NO. OF RESPONDENTS 43 44 13 100

SHARE (%) 43% 44% 13% 100%

INTERPRETATION
The interested customers i.e. 43% are ready to go for insurance even away from a city if services and products are worthwhile, which again is a good prospect (potential) for Max New york Life Insurance to take them on their favor.

Q17:PEOPLE PLANNING FOR NEW INVESTMENTS RESPONSE

Planning Not planning Total

NO. OF RESPONDENTS 87% 13 100

SHARE (%) 87% 13% 100%

[F ig1 7]
Not Planning 13%

Planning 87%

INTERPRETATION
Only 13% of the customers contacted are not planning for new investments presently. Whereas, 87% of the customers are still planning for new investments this can be a great potential for MetLife India Insurance Co. Ltd to take them on their favor.

FINDINGS & RECOMMENDATIONS

FINDINGS & RECOMMENDATIONS

1. As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. There is a large potential for insurance in India. 2. The entrance of private players will increase the competition and it would be a tough task to secure a good position in market.

3. Since Met Life India Insurance is leading with several companies policies it should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship. 4. As seen from the survey that at present 70% of the customer are having insurance policy out of which 87.5% of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers. 5. As 43% of the customers are even ready to go for insurance if a service provider away from their city is providing it. But in turn they should provide good products and services. The company should try to convince these customers and get them in its favor.

PHASE OF TRANSITION
Life Insurance industry is under the phase of infancy after 50 years of monopoly. Competition from within and other sectors of financial market. Needs environmental support till it reaches a comfort zone

CONCLUSION
The exhaustive research in the field of Life Insurance threw up some interesting trends which can be seen in the above analysis. A general impression that I gathered during Data collection was the immense awareness and knowledge among people about various companies and their insurance products. People are beginning to look beyond LIC for their insurance needs and are willing to trust private players with their hard earned money. People in general have been impressed by the marketing and advertising campaigns of insurance companies. A high penetration of print, radio and Television Ad campaigns over the years is beginning to have its impact now. Another heartening trend was in terms of people viewing insurance as a tax saving and investment instrument as much as a protective one. A very high number of respondents have opted for insurance for such purposes and it shows how insurance companies have been successful to attract public money in recent times. The general satisfaction levels among public with regards to policy and agents still requires improvement. But therein lies the opportunity for a relative player like MetLife India Insurance Co. Ltd. LIC has never been known for prompt service or customer oriented methods and MetLife India Insurance Co. can build on these factors.

BIBLIOGRAPHY

WEBSITES REFERRED
www.metlife.co.in www.irdaindia.org www.thehindubusinessline.com

ANNEXURE

QUESTIONNAIRE NAME:_________________________ ADDRESS:______________________ ______________________________OCCUPATION:_____ ______________ 1. ARE YOU EMPLOYED?

YES NO

2. DO YOU HAVE ANY INSURANCE POLICY?

YES NO

3. WHICH INSURANCE POLICY DO YOU HAVE?

LIFE NON-LIFE BOTH

4. WHICH COS INSURANCE POLICY YOU PREFER THE MOST? (RANKTHEM)

a) b) c) d) e) f) g) h) LIC ICICIPRUDENTIAL SBI LIFE INSURANCE MET LIFE INDIA INSURANCE MAX NEW YORK LIFE INSURANCE BAJAJ ALLIANZE RELIANCE LIFE INSURANCE ANY OTHER ________( Specify)

5. WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE PLAN? (RANK THEM)
a) COVER FUTURE UNCERTAINITY b) TAX DEDUCTIONS c) FUTURE INVESTMENT

d) ANY OTHER _________

(Specify)

6. WHATS YOUR PERCEPTION ABOUT INSURANCE? (RANK THEM)

a) A SAVING TOOL b) A TAX SAVING DEVICE c) A TOOL TO PROTECT FUTURE

7. ARE YOU SATISFIED WITH THE POLICY?

a) SATISFIED b) NOT SATISFIED c) NOT RESPONDING

8. ARE YOU SATISFIED WITH THE SERVICE AGENT?

a) SATISFIED b) NOT SATISFIED c) NOT RESPONDING

9. DO YOU PAY TAXES?

YES NO

10.WHICH IS THE BEST FORM OF INVESTMENTS? (RANK THEM)

a) FIXED ASSETS c) JEWELLERY Bonds, MFs e) SHARES b) BANK DEPOSITS d) SECURITIES, i.e. f) INSURANCE

11. . WHAT DO YOU INTENT TO GAIN FROM INVESTMENTS?

a) SAVING & RETURNS c) TAX BENIFITS b) SECURITY

12.WHATS THE RIGHT AGE TO BUY INSURANCE?

a) AFTER 25 Yrs c) AFTER 45 Yrs b) AFTER 35 Yrs d) ANYTIME

13.HOW WOULD YOU RATE INDIAN INSURANCE COs?

a) RIGID PLANS c) UNSATISFATORY SREVICES d) NON-AGGRESSIVE f) GOOD e) SATISFACTORY g) VERY GOOD b)NON-USER FRIENDLY

14. WHAT WOULD YOU LOOK FOR IN AN INSURANCE COs? (RANK THEM)
a) A TRUSTED NAME b) FRIENDLY SERVICE & RESPONSIVENESS c) GOOD PLANS d) ACCESSIBILITY

15.WOULD YOU GO FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVICE & PRODUCTS?
a) YES b) NO c) UNCERTAIN

16.ARE YOU PLANNING FOR NEW INVESTMENTS?

a) PLANNING a) NOT PLANING

THANK YOU.