1. Comparative Study of Traditional and ULIP Plans offered by Life Insurance Companies in Ludhiana Under the Guidance of:- Presented By :- Ms. DeepikaArora Faculty Member, PCTE , Ludhiana VishalKatoch MBA 2A

2. Insurance

3. Life Insurance Companies In India

5. Market Share of Different Life Insurance Companies

6. General Insurance Companies In India

8. Market Share of Different General Insurance Companies

9. The Right Organization to Partner With

10. Historical Background of the Company Money Matter Inc. was started by Mr. Prem Pal Sharma in 2002 in Rajasthan. In Rajasthan they work under the name of Money Matter Wealth Advisors Pvt. Ltd. It has its head office in Delhi. It has six branches in Rajasthan. In Punjab, Money Matter Inc. start their services in 5th September 2008. Right now they have four branches in Punjab. For Punjab Region they have their head office in Mohali .

11. Quick Facts Incorporated on 5th September 2008. Presence in Punjab and Rajasthan. 6 offices with 60 professionals and 100 Business associates. Our Locations: Mohali (Punjab) Sri Ganganagar (Rajasthan) AnupGarh (Rajasthan) Suratgarh (Rajasthan) Ramsinghpur (Rajasthan) Ludhiana (Punjab) Upcoming Branches: Jalandhar (Punjab) NawanShahar (Punjab) Amritsar (Punjab) Panchkula (Haryana)

13. Acquire and Transform

14. Improve Mission

15. Processes Processes Right People Organizational Alignment Execution Discipline Right People Organizational Alignment Execution Discipline Pillars Values Caring ; Honesty ; Passion ; Team Work ; Disciplined Professionalism

16. Money Matter Inc. Differentiators Opportunity in India Customer Needs Business Model Career & Growth Prospects

18. Passionate, Balanced, Disciplined

19. Customer-centric Business

20. Relationship and Product Positioning

22. Large under and un-served segments.

23. Availability of talent, lower cost technology, and steadily improving infrastructure.

24. Foreign Direct Investment inflows expected to double.

25. Increasing levels of foreign trade.

27. Business Model

28. Director Regional Manager Zonal Manager Sr. Manager Relationship Manager Asst Relationship Manager Sr. Relationship Officer/ Relationship Officer Career Progression & Future Opportunities

29. Management Team

30. Introduction to Particular Branch “Money Matter Inc. wants to be the Preferred Partner for all Financial Needs of the Customer” Objective

31. Products This is basically a wealth Management unit deals in all the almost all investment option present in market. They give there services in Insurance Demat Account Mutual Funds Bonds Share Debenture Corporate FDs & Corporate Loan. Gold

32. The Companies associated with Branch In Life Insurance In General Insurance 1) Tata AIG 1) Tata AIG General Insurance 2) Kotak Life Insurance 2) Reliance General Insurance 3) Aviva Life Insurance 3) Bajaj Allianz General Insurance 4) ICICI Prudential 4) Royal Sundram 5) LIC 5) United 6) Bajaj Allianz 6) National 7) Birla Sun Life 7) Oriental 7) HD FC Standard Life 8) New India 8) SBI Life 9) Iffco Tokyo 9) Reliance Life 10) Star Health 10) Star Health

33. Organization Chart of Training Unit

34. Departments There are two departments in Money matter Inc. Sales 2) Human Resource HOD- Mr. Bikramjeet Singh HOD- Ms. NavjeetKaur Objectives of Sales Department:- Objectives of HR Department:-

35. 5 Year Goal Achieve market share of 5% (top own-branch players) within target segment 1 2 Serve a satisfied customer base of ~2 million customers Be the best employer in financial services industry in India, attracting diverse talent due to its unique business model and wide product range 3

36. SWOT Analysis of Money Matter Inc.

37. Role of the Advisor Works with you to discover your personal financial objectives. Assesses your entire financial situation. Designs a customized investment plan . Screens the industry. Works with those providers to implement your customized investment plan. Monitors the providers and replaces . Provides education and guidance . Celebrates with you when things go well.

38. Traditional Plan Features:- 1) Death benefit and Maturity benefit. 2) Helps in asset creation as they are for a long tenure. 3) Premium to Sum Assured ratios are fixed for each plan and age. 4) Generally withdrawals are not allowed before maturity. 5) Cash flows in Life Insurance. 6) Mortality table. 7) Discount rates. 8) Term insurance.

39. ULIPs Feature:- 1. Insurance + Investment. 2. Portfolio investment. 3. Riders benefit. 4. Transparency 5. Higher liquidity 6. Gains depend upon market moments. 7. Potential for better returns.

40. Structure Of ULIPs 1. Premium Allocation Charges. 2. Administration Charge. 3 .Mortality Charges. 4. Fund Management Charge. 5. Rider Premium Charge. 6. Partial Withdraw Charge. 7.Miscellaneous charge. 8. Switching Charge. 9.Surrender Charge

41. Diagrammatical Presentation of Premium Break of ULIPs

42. Different Type Of Funds In ULIPs

44. Companies Under Study

45. History of Companies

46. Traditional Plans And Their Features

47. Features Of LIC – JEEVAN SARAL This plan is a combination of Endowment Assurance and Whole Life plans. Features:- 1.Premium 2.Bonus Benefits 1.Benefits in case of death during the selected term. 2.Benefits in case of survival to the end of selected term 3.Accident Benefit 4.Extra Benefits 5.Surrender Value

48. Features Of BAJAJ ALLIANZ – LIFE TIME CARE This plan not only provides insurance protection, but also ensures that your valuable savings grow .In addition, a terminal bonusmay be paid on survival till the age 80 years. Benefit 1. Death Benefit . 2. Survival Benefit. 3. Additional Benefits a) Accidental Death Benefit. b) Accidental Permanent Total/Partial Disability Benefit. c) Waiver of Premium Benefit. d) Critical Illness Benefit. e) Hospital Cash Benefit.

49. 5. Flexibility in Coverage. 6. Increase in risk Coverage. 7. Premium Discount. 8. Advantage for Women. 9.Surrender. 10. Loans.

50. Features Of Birla Sun Life – Dream Endowment Plan

51. Benefit 1.Guaranteed Additions 2.Death Benefit 3.Surrender Benefit 4.Maturity Benefit Your Enhanced Choices 1. Enhanced Sum Assured 2. Enhanced Savings Premium

52. Features of TATA AIG – Maha Gold It provides a steady income and insurance coverage for life. This unique policy is an ideal planning vehicle to fund your retirement. payable only for the first 15 years, and can be used to cover the future expenses of your children Key Features Include: Guaranteed annual coupon of 5% . Yearly cash dividends are available Entire sum assured is paid tax-free . Tax Benefits, Riders and Age Eligibility Guaranteed 5% coupon and non-guaranteed cash dividends are tax free . Tax Benefit Riders are available . Policy available for persons between 0 years and 60 years of age.

54. ULIPs Plan

55. Features And Benefit of LIC – Market Plus This is a unit linked pension plan. You can take the plan with or without life cover. Features:- 1. Top Up. 2. Switching. 3. Increase or Decrease risk cover. 4. Partial Withdraw. 5. Discontinuous of Premiums and Revival. 6. Revival. 7. Assignment. 8. Exclusions.

56. Features And Benefit of BAJAJ ALLIANZ – Century Plus Bajaj Allianz Century Plus III offers you a unique combination of protection and prospect of attractive returns. Features:- 1. Death benefit. 2. Maturity benefit. 3. Surrender benefit. 4. Premium apportionment. 5. Flexibility to manage your investments. 6. Flexibility - to pay top up premiums. 7.Flexibility to decrease annualized premium. 8. Partial withdrawal option.

57. Feature And Benefit of BIRLA- Platinum Plus Self-Managed Option gives you complete access to our range of investment funds with the freedom to switch between them, free of cost. Features:- 1. Loyalty Additions 2. Partial Withdrawals 3. Surrender Benefits 4. Maturity Benefits 5. Death Benefit

58. Features And Benefit of TATA-AIG Invest Assure Gold Plus Invest Assure Gold Plus is Whole-life ULIP. Features:- 1. Loyalty Additions of 0.50% units . 2. Flexibility of seven Fund Options to choose from . 3. Enables you to enjoy market linked results with a potential for higher growth. 4. Riders are available .

59. Comparison Of ULIPs Of Four Companies

60. Research Methodology

61. Title Comparative Study of Traditional and ULIP Plans offered by Life Insurance Companies in Ludhiana

62. Objectives

63. Research Methodology Introduction: Research is an academic activity and as such the term should be used in technical sense. RESEARCH DESIGN: Descriptive research designis usedfor collecting primary data. SAMPLING

66. Data Analysis Table 4.1 Number of Respondents ( N=104) Analysis:- There are equal no. of respondents for both traditional and ULIP Plans i.e. 50% for each.

67. Table 4.2 Name of companies for ULIPs (N=52) Analysis:- ULIPs respondents are also further divided into 4 categories. Each category consists of customers of four different companies. The companies are:- LIC, Bajaj Allianz, Birla Sunlife, and Tata AIG.

68. Table 4.3 Company Preference N=104) Analysis:- 25% are from Public limited company and 75% are from Private ( in collaboration with foreign companies). This has been done intentionally so that equal no. of respondents can be chosen for all the four companies under study.

69. Table 4.4Role of an Advisor (N=104) Analysis:- According to 49% respondents the role of advisor is to help them in achieving the financial objectives, 31% consider his role to explain about the product, 17% consider him to assess their entire financial situation. Interpretation:- People are of different view regarding the advisor’s role. They are not clear with the actual role of the advisor whose role comprises of all the above parameters.

70. Table 4.5 Advisor had changed your preference for investment Analysis:- From the above table, it is evident that advisor had changed the preference of 65% respondents while 35% feel advisor does are. Interpretation:- The advisor advises the investors and they do follow their advice.

71. Analysis of LIC Table 4.6 Gender Analysis:- From the above table, it is evident that 46% respondents are males and 54% are females.

72. Table 4.7 Occupation Analysis:- As the above table illustrates, 54% respondents are doing private service, 15% each are doing government jobs and business and 8% each are for student and other.

73. Table 4.9 No. of times investment is done Analysis:- According to above table 77% respondents are investing once a year in insurance plan and 23% are investing 2-3times a year. Interpretation:- The policyholders are paying the premium annually and semi annually.

74. Table 4.10 Your opinion about investment Analysis:- According to above table, 62% respondents are investing in insurance just for tax saving , 23% for return and 15% for better future. Interpretation:- The main purpose for investment is to have the tax benefit.

75. Table 4.13 Returns you would look at from your investments Analysis:- As the above table depicts, 77% respondents want their return to fall in the category 6-15%, 15% want return higher than 15 % and 8% expect less than 5%. Interpretation:- LIC policyholders are expecting moderate returns from their plans.

77. 54 % respondents are enjoying the benefit of No Claim Bonus.

78. The plans of 77% respondents are giving them guaranteed addition.

79. 38% respondents had not paid for their medical test expense.Interpretation:- Most of the plans of LIC are giving the benefits of riders, no claim bonus and guaranteed addition to its investors.

80. Table 4.14 Risk attached with Traditional Plans Analysis:- According above table, 69% respondents are of the view that risk attached with their plan is moderate, 15% respondents are of the view that risk attached is low, 8% think that risk attached is high. Interpretation:- According to LIC policyholders the risk attached with the traditional plan is moderate. The risk attached with traditional plans is less but still investors are feeling that the risk in traditional plans falls in the moderate category.

81. Table 4.15An ideal policy term Analysis:- According to the above table, 69% respondents are of the view that the ideal policy term is 3-8 years 31% feels 9-14 years. Interpretation:- Majority of policyholders are ready for long term of their plans.

83. Policy features , Length of investment & Post sale services are essential are essential for majority of policyholders.Interpretation:- Returns, policy features, tenure of investment and post sales services all are seen before going for any of the traditional plan.

85. Table 4.19Gender Analysis:- From the above table, it is evident that out of 77% respondents are male 23% are female.

86. Table 4.20 Occupation Analysis:- As the above table illustrates,85% respondents are doing private service, 8% government, and 8% and one for other.

87. Table 4.22 No. of times investment is done Analysis:- According to above table, 61% respondents are investing once a year in insurance plan and 3% are investing 2-3times a year. Interpretation:- Majority of respondents are paying premium annually .

88. Table 4.23 Your opinion about investment Analysis:- According to above table, 33% responses are investing in insurance just for tax saving , 33% for returns and 14% for better future. Interpretation:- Majority of policyholders are going with investment plans for tax saving purpose.

89. Table 4.26 Returns you would look at from your investments Analysis:- As the above table depicts, 46% respondents want their return to fall in the category 6-15%, 38% want return higher than 15 % and 8% want less than 5%. Interpretation:- Policyholders are expecting moderate returns from their plans.

91. 54% respondents enjoy the benefit of No Claim Bonus.

92. The plan of 85% respondents is giving them guaranteed addition.

93. 62% respondents had not paid for their medical test expense.Interpretation:- All the plans of Bajaj Allianz are providing the benefits of riders. Most of them are giving No Claim Bonus, guaranteed addition and medical test expenses.

94. Table 4.28 Risk attached with Traditional Plans Analysis:- According above table, 77% respondents are of the view that risk attached with their plans is moderate, 15% think that risk attached is high. Interpretation:- According to Bajaj Allianz policyholders the risk attached with the traditional plan is moderate. The risk attached with traditional plans is less but still investors are feeling that the risk in traditional plans falls in the moderate category.

95. Table 4.29 An ideal policy term Analysis:- According to the above table, 62% respondents are of the view that the ideal policy term is 9-14 years 23% of 15-20 years. Interpretation:- So policyholders are ready for long term plans.

97. Policy features , Return on investment & Post sales services are essential are essential for majority of respondents.Interpretation:- The returns, policy features, length of investment and post sale services are considered during the purchase of plans.

99. Analysis for Tata- AIG Table 4.32Gender Analysis:- From the above table it is evident that 92% respondents are male and 8% are female.

100. Table4.35 No. of times investment is done Analysis:- According to above table 62% respondents are investing once a year in insurance plans , 15% are investing 2-3times a year and 23% are investing in more than 3 times. Interpretation:- Most of the investors are paying the premium annually but some are also paying quarterly or monthly.

101. Table 4.36 Your opinion about investment Analysis:- According to above table, 21% responses are investing in insurance just for tax saving, 36% for returns , 29% for wealth creation and 14% for better future. Interpretation:- The policyholders are taking these plans for different reasons.

102. Table 4.39 Returns you would look at from your investments Analysis:- As the above table depicts, 55% respondents want their return to fall in the category 6-15 %, 29% want return higher than 15 % and 16% are expected less than 5%. Interpretation:- The policyholders want good returns.

104. Only 15% respondents enjoy the benefit of No Claim Bonus.

105. The plan of 85% respondents is giving them guaranteed addition.

106. 38% respondents had not paid for their medical test.Interpretation:- Maximum plans are giving the benefits of riders and guaranteed addition but very less are giving no claim bonus and medical test expenses.

107. Table 4.41 Risk attached with Traditional Plans Analysis:- According above table, 69% respondents are of the view that risk attached with their plan is moderate, 23% respondents are of the view that risk attached is low, 8% think that risk attached is high. Interpretation:- The risk attached with the traditional plan is moderate.

108. Table 4.42 An ideal policy term Analysis:- According to the above table, 46% respondents are of the view that the ideal policy term is 9-14 years,31% marked 15-20 years. Interpretation:- So policyholders are ready to keep their policies for long term .

110. Post sale services are essential for majority of respondents.Interpretation:- Post sale services are essential for the policyholders.

111. Table 4.44 Satisfaction from the company Interpretation: From the above, it can be observed that Regarding the company satisfaction on the basis of above mentioned factors the respondents are satisfied.

112. Analysis for Birla Sun Life Table 4.45Gender Analysis:- From the table it is evident that 77 % are male 23 % are female.

113. Table 4.46 Occupation Analysis:- As the table illustrates 54 % respondents are doing private service, 23 % government, 15 % for business, and 8 % are student .

114. Table 4.48 No. of times investment is done Analysis :- According to above table 70 % investors are paying premium once a year in insurance plan , 15 % are paying premium 2-3times a year and 15% are paying premium more than 3 times. Interpretation:- Most of the policyholders are paying premium annually but still there are some investors who are paying premium quarterly or semi annually.

115. Table 4.49 Your opinion about investment Analysis:- According to above table, 46% policyholders are having insurance just for tax saving , 15% for return,31% for wealth creation and 8% for better future. So majority of investors are going with investment plans for tax saving purpose.

116. Table 4.52 Returns you would look at from your investments Analysis:- As the above table depicts, 46% respondents want their return to fall in the category 6-15%, 31% want return higher than 15 % and 23% are expecting less than 5%. Interpretation:- There are low returns in traditional plans.

118. 31% respondents enjoy the benefit of No Claim Bonus.

119. The plan of 92% respondents are giving them guaranteed addition.

120. 8% had not paid for their medicalInterpretation:- The traditional plans of Birla Sunlife are providing the benefits of riders and guaranteed addition but the benefits of no claim bonus and medical test expense are not being provided.

121. Table 4.54 Risk attached with Traditional Plans Analysis:- According above table, 77 % respondents are of the view that risk attached with their plan is moderate and 23% think that risk attached is high. So according to Birla Sunlife respondents the risk attached with the traditional plan is moderate. Interpretation:- Risk is moderate in Birla Sunlife Traditional plan.

122. Table 4.55 An ideal policy term Analysis:- According to the above table, 46 % policyholders are of the view that the ideal policy term is 9-14 years, 31 % are in the favor of 15-20 years and 23%.are with 3-8 years. Interpretation:- So Policy holder are ready to purchase policy of long term .

126. Table 4.59 Occupation Analysis:- As the above table illustrates, 92 % investors are doing private service and 8 % for other.

127. Table 4.61 No. of time investment is done Analysis:- According to above table 46 % investors are investing once a year in insurance plan , 30 % are investing 2-3times a year and 23 % are investing in more than 3 times.. Interpretation:- Investors are paying premium annually, semi annually.

128. Table 4.62 Your opinion about investment Analysis:- According to above table, 25 % responses for tax saving , 38 % for return 31 % for wealth creation and 6 % for better future Interpretation:- Most of the investors are purchasing ULIPs for good returns and enhancing their money.

129. Table4.65 Returns you would look at from your investments Analysis:- As the above table depicts, 23% respondents want their return to fall in the category 6-15%, 69% want return higher than 15 % and 8 % are expecting more than26-35%. Interpretation:- ULIP plans are providing high returns

130. Table 4.66 Reasons for investment in the ULIP Analysis:- According to the above table, 33% respondents have purchased ULIPS for income growth, 17% each for tax rebate,17% child education and 11% for child marriage. Interpretation:- ULIPs are providing high returns thats why people are purchasing them for income growth.

131. Table 4.67 Time horizon when investing in ULIP Analysis:- According to the above table, the time horizon for 46% respondents falls between 5-10 years, 31% respondents fall between10-15years,15% for more than 15 years. Interpretation:- People are ready for the long term investment in ULIPs

132. Table 4.68 Preference while investing in ULIPs Analysis:- According to the above table, 61% investors are preferring high risk for high returns, 31% for moderate risk moderate return. Interpretation:- The risk appetite of people is high so they are mainly investing in Equity funds.

133. Table4.69 Features preferred during purchase of ULIP.

134. Table 4.70 Satisfaction from company Analysis:- According to above chart the investors are satisfied by the above mentioned services of the company. Interpretation:- The services of the company are good so people are satisfied from the it.

135. Analysis of ULIPs of Bajaj Allianz Table 4.71 Gender Analysis:- From the above table it is evident that 54% respondents are male and 46% are female .

136. Table 4.72 Occupation Analysis:- As the above table illustrates 84% investors are doing private service, 8% business.

137. Table 4.74 No. of time investment is done Analysis:- According to above table depicts 70% investors are investing once a year in insurance plan , 15% are investing 2-3times a year and 15% are investing in more than 3 times. Interpretation:- The investors are paying premium annually, semi annually and quarterly

138. Table 4.75 Your opinion about investment Analysis:- According to above table, 7% responses are for tax saving , 36% for return, 43% for wealth creation and 14% for better future. Interpretation:- The ULIPs are giving good returns to the investors.

139. Table 4.78 Returns you would look at from your investments Analysis:- As the above table depicts ,46.15% respondents want their return to fall in the category6-15%, 46.15% want return higher than 15% and 7.69% want between 26%-35%. Interpretation:- The investors want good returns.

140. Table4.79Reason for investment in the ULIP Analysis:- According to the above table, 60% responses are for income growth, 7% each for tax rebate and 26% for 2 in 1 benefits. Interpretation:- ULIPs provide high returns that is why people have purchased them for high returns,

141. Table4.80 Time horizon when investing in ULIP Analysis:- According to the above table, the time horizon for 62% respondents fall between 5-10 years, 30% respondents fall between 10-15 years. Interpretation:- People are ready for the long term investments.

142. Table 4.81 Preference while investing in ULIPs Analysis:- According to the above table, 54% respondents are preferring high risk for high returns,46% moderate risk moderate return. Interpretation:- People want good returns so they are taking risk.

143. Table 4.82 Features preferred during purchase of ULIP.

144. Table 4.83 Satisfaction from company Interpretation:- The investors are satisfied by the above services provided by the company.

145. Analysis of ULIPs of Tata-AIG Table4.84 Gender Analysis:- From the above table it is evident that 69 % are males 31% are female.

146. Table4.85 Occupation Analysis:- As the above table illustrates, 84 % investors are doing private service, 8 % each for business and student.

147. Table 4.87 No. of time investment is done Analysis:- According to above table 54 % investors are investing once a year in insurance plan , 38 % are investing 2-3times a year and 8 % is investing more than 3 times.

148. Table 4.88 Your opinion about investment Analysis:- According to above table, 29 % responses are for tax saving , 50.00 % for return and 21 % for wealth creation. Interpretation:- Most of people invest in the ULIPs for good Returns.

149. Table4.91 Returns you would look at from your investments Analysis:- As the above table depicts, 46 % investors want their return to fall in the category 6-15%, 54 % want return higher than 15%. Interpretation:- The investors of TATA-AIG are expected moderate to high returns.

150. Table4.92 Reason for investment in the ULIP Analysis:- According to the above table, 73 % responses are for income growth, 13 % for 2 in 1 Benefit and 6.66 % for child education. Interpretation:- Most of the investors of TATA AIG purchase ULIPs for income growth.

151. Table4.93 Time horizon when investing in ULIP Analysis:- According to the above table, the time horizon for 38 % investors falls between 5-10 years, 38 % investors fall between 10-15 and time horizon of 23 % investors falls in upto 5 years . Interpretation:- Most of the investors of TATA -AIG ready for long term Investment..

152. Table 4.94 Preference while investing in ULIPs Analysis:- According to the above chart, 46 % investors are preferring high risk for high returns, 54% moderate risk moderate returns. Interpretation:- Most of the investors of TATA-AIG wants moderate or high risk for good returns..

153. Table4.95 Features preferred during purchase of ULIP. .

155. Financial health is essential while purchasing ULIP.

156. Regarding influence of relatives/friends in investment decision making they have moderate views.

158. Analysis of ULIPs of Birla Sunlife Table4.97 Gender Analysis:- From the above table it is evident that 92 % are males 8 % is female.

159. Table4.98 Occupation Analysis:- As the above chart illustrates 100 % investors are doing private service

160. Table 4.100 No. of time investment is done Analysis :- According to above chart 46 % investors are investing once a year , 46 % are investing 2-3times a year and 8 % is investing more than 3 times. Interpretation:- Most of the investors of Birla Sun life are prefer to invest once or twice a year.

161. Table 4.101 Your opinion about investment Analysis:- According to above table, 29 % investors are investing in insurance just for tax saving , 41 % for return, 11 % for wealth creation and 19 % for better future. Interpretation:- Most of investors of Birla sun life invest in the ULIPs for tax saving purpose. So they are just investing in ULIPs for tax saving purpose.

162. Table 4.104 Returns you would look at from your investments Analysis :-As the above table depicts,54% investors want their return to fall in the category6-15%, 46 % want return higher than 15%. Interpretation:- The investors of Birla Sun Life expected high returns for their investment In ULIPs.

163. Table 4.105 Reason for investment in the ULIP Analysis:- According to the above table, 62 % investors have purchase ULIPS for income growth, 8 % each for Tax rebate and 2 in 1 benefit and 15 % for pension. Interpretation:- Most of the investors of Birla Sun Life invest in ULIPs for income growth.

164. Table4.106 Time horizon when investing in ULIP Analysis:- According to the above table, the time horizon for 47 % investors falls between 5-10 years, 23 % investors fall between 10-15 and time horizon of 31 % investors is below 5 years . Interpretation:- Most of the investors of Birla Sun Life are ready for long term investment.

165. Table 4.107 Preference while investing in ULIPs Analysis:- According to the above table, 37 % investors prefer high risk for high returns, 30 % moderate risk moderate return and 23 for low risk low gain. Interpretation:- Most of the investors of Birla sun life want to take moderate and high risk for high returns.

166. Table4.108 Features preferred during purchase of ULIP.

167. Table 4.109 Satisfaction from company Interpretation:- Investors are highly satisfied by the premium collection procedure of Birla Sunlife. Also they are satisfied by other services like providing latest information, claim settlement procedure and grievance handling

168. Table 4.110 Preference for the plan Interpretation: The people have purchased ULIPs and traditional plans to get good returns.

169. Recommendations On the basis of the analysis of the data collected from the project the following recommendations are suggested to the company: 1. Good distribution network. 2. Security of funds more than Brand name. 3. Advertisement. 4. Awareness. 5. Scope for Private sector. 6. Social well fare.

170. Conclusion According to my study, ULIP gives high returns , flexibility and liquidity as compared to traditional plans. ULIP is more transparent than Traditional Plans. There is no doubt about the returns in ULIP due to proper transparency, but Traditional Plans have no transparency. Customers came to know about their transactions only at the end.

171. ULIP covers insurance with investment. In ULIP, a person on the one hand is investing money in market and on the other hand, he is securing his life. Therefore, ULIP is solving both the problems of investing and insurance. If a person is willing to invest in the market, then ULIP is the best option for him. According to my survey, people think the role of advisor is to help them in achieving the financial objectives and also to explain about the product. Some people thinks that advisor change their preference of investment. Advisor act as guide for them who tell them where to invest their money. According to my research, the policy holders and the investors give more preference to return on the investments.

173. Thank you