A SYNOPSIS ON

LIFE INSURANCE CORPORATION

SUMITTED IN PARTIAL FULFILLMENT OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION, 1ST SEMESTER 2011

Faculty of commerce and management studies J.N.V.Univestity, Jodhpur

UNDER THE SUPERVISION BY:

SUBMITTED BY:
Dr. Meeta Nihalani M.B.A, Ph.D Prem Singh Gujar M.B.A.( Sem. 1st)

INTRODUCTION
Research in Common parlance refers to search for Knowledge. Its a scientific and systematic search for pertinent information on specific topic. Research is an art of Scientific investigation its mean Systematized effort to gain new Knowledge. According to Clifford woody Research Comprises defining and redefining problem formulating hypothesis or suggested solution Collecting, Organizing and evaluating data making deductions and reaching Conclusion at Carefully testing the Conclusion to determine whether they fit the formulating hypothesis. Life insurance schemes, including pensions and life annuity policies, provide payments depending on the life or the death of a particular person or persons. Life insurance policies are issued in two basic types: term life and permanent life. This Project Study intends to competitively analyze the customer preferences for life insurance schemes of LIC. LIC is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Governments expenses. It has assets estimated of 9.31 trillion (US$205.75 billion). It was founded in 1956 with the merger of more than 200 insurance companies and providentsocieties.Headquartered in Mumbai, financial and commercial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 101 divisional offices located indifferent parts of India, at least 2048 branches located in different cities and towns of India along with satellite Offices attached to about some 50 Branches, and has a network of around1.2 million agents for soliciting life insurance business from the public.

OBJECTIVE OF THE RESEARCH

. DESCRIPTIVE RESEARCH DESIGN: Descriptive research includes survey and fact finding enquiries of different Kinds. The major Purpose of descriptive research is description of State affairs as it exists in present. In social and business research we quite often use. We have done Survey found fact by personal interview so it is descriptive. QUANTITATIVE RESEARCH DESIGN: Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in term of quantity. We have also found requirement in quantity so its the quantitative research. The Purpose of research is to discover answer to question through the Application of scientific procedure. The main aim of research is to find out the truth which is hidden and which has not been discovered as yet. There are two objective such as 1. To study the market share or LIC 2. To find out the comparative performantion of LIC with PRIVATE INSURANCE COMPANIES

HYPOTHESIS AND ASSUMPTION

Hypothesis is considered as principal instrument in research. Hypothesis is considered an mere assumption that needs to be proved or disproved. This study or project regarding to the hypothesis that LIC performs well as compared to other private insurance companies

RESEARCH METHODOLOGY
Primary data
This method of data collection is quite popular, particularly in case of big enquiries. It is being adopted by private individuals, research workers private and public organization and even by governments in this method a questionnaire Consists of a number of question printed or typed in definite order on a form or set of form I have made a Questionnaire for Survey.

Secondary data
Secondary data means data that are already available they refer to the data which have already been collected and analyzed by someone else. We have used for it following method Internet and journals of company. The other necessary information regarding LIC products and offerings were obtained through printed sources such as Handouts, Pamphlets, Advertisements and circulars etc.

RESEARCH TYPE
RANDOM

SAMPLING UNIT
CONSUMER

SAMPLE SIZE
100 people

SAMLPE PLACE
JODHPUR (RAJASTHAN)

CONCLUSION

The LIC faces a large amount of competition. To sustain itself it must promote its products through advertising and improve its selling techniques. Consumers must be aware of the new plans available at LIC. The medium of advertising used could be television since most of its competitors use this tool to promote their products. The company must be promoted as an Indian company since consumers seem to have more trust in investing in Indian firms. LIC could tap the rural markets with cheaper products and smaller policy terms. There are individuals who are willing to pay small amounts as premium but the plans do not accept premiums below a certain amount. It was usually found that a large number of males were insured compared to females. Individuals below the age of 30 (mostly male) were interested in investment plans. This was a general conclusion drawn during prospecting client.

BIBLIOGRAPHY
www.licindia.com www.allianzbajaj.com www.birlasunlife. Com www.hdfcinsurance.com www.icicirulife.com www.maxnewyorklife.com Times of India

CHAPTER SCHEME

1. INTRODUCTION 2. SWOT ANALYSIS 3. RESEARCH METHODOLOGY 4. DATA ANALYSIS AND INTERPRETATION 5. PROBLEM AND SUGGESTION 6. CONCLUSION 7. RECOMMENDATION 8. APPENDIX 9. BIBLIOGRAPHY