MF Vs ULIPS
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Transcript of MF Vs ULIPS
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A Report
OnTo Study the Marketing
Strategies of ULIPsAnd
Mutual Fund
With Special Emphasis onReliance Life Insurance Company
Ltd.
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About the company
Reliance Life Insurance, a part of the Reliance
Anil Dhirubhai Ambani Group is one of India's
fastest growing life insurance company.
Reliance Life Insurance has 1,145 branches
and over 142,000 agents.
It offers 35 products covering savings,
protection & investment requirements.
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Objectives of the project
The primary objective of the research is to
help RLIC to device a marketing strategy to
market ULIPs differently than Mutual Funds.
It will also serve the purpose of understanding
the investment pattern of the investor based
on some parameters- Demographic ,
Economic and on family cycle.
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Value added to the company
With the activity of filling of the questionnaire from the
household and the corporate people we are trying to generate
prospect customers out of the suspect customers. This will
definitely help the company to increase its market share.
This activity will also create brand awareness among the
customers.
The comparative analysis of Mutual Fund against ULIPs will help
the host company to frame out the future marketing strategies.
The inputs from the project may help the company to carry outlocal promotional campaigns and open various avenues to reach
out to the customers.
The inputs from the project may also be utilized for the future
studies
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Limitations
Off field
The promotional activities conducted by our
marketing team are limited to the territory of Jammu.
The use of questionnaire in the data collection
activities leads to many discrepancy in the information
given.
The customers are reluctant to reveal their personal
details in the Questionnaire.
Data on Mutual Fund market will be based on the
secondary data.
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Limitations.
On field
Lack of the acceptance of the private players in
the insurance industry is the major problem faced
while undergoing this project.
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Research Methodology
Used primary data (received through
customer feedback) and
Secondary data (reference materials) toanalyze the marketing strategies utilized.
Sample size 200 respondents.
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Demographics for the study
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Gender
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Occupation
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ANALYSIS AND INTERPRETATION ON
THE BASIS OF THE QUESTIONNAIRE
Do you have any life Insurance cover?
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Analysis
No. of respondents who have the insuranceare far more in Number.
Interpretation
Life insurance as a financial product hasbecome a necessity in todays scenario. In this
fast paced scenario the sense of security is the
key factor in the Insurance sector.
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Awareness about ULIPs?
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Interpretation
ULIPs are the new insurance product in theoffering. So, there is a very little awareness aboutULIPs.
A keen interest in ULIPs have been shown by all
the strata of the which we have taken.
It is a new product altogether so; awarenessneeds to be generated for the product. It couldbe done through different data sources like,Newspapers, Magazines, internet etc.
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Awareness about Mutual Funds
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Interpretation
It is an interesting fact that those who haveinvested in ULIPs fall under the age group of
30 beyond.
It shows that most of them are married andthey are looking forward to have a long term
Insurance cum Investment plan.
It is a clear indication that the youngergeneration are not looking for long term
Investment.
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Have you invested in MFs?
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Inference
Mutual Fund has been accepted as an
Investment product.
Young and working population are looking for
Mutual Fund Investment.
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Investment objective
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Interpretation
The primary objective of the Investment issave Tax. The young population is also keen in
saving tax.
This is an edge for ULIP over Mutual Fund as
ULIP give tax benefit under both sec. 80c and
10 (10D).
The married people with child opt for ULIPs or
traditional Insurance in general
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Consultation before Investment
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Inference
The emergence of newspaper, magazines, TVetc. shows the fact that the growingawareness among the investors to know aboutdifferent Investment avenues. This keenness
can be most commonly seen with the 30-35 yrof age group who are actually seriousInvestors.
The loosing faith on the financial consultant is
a concern and leads to the fact that they arenot qualified enough to answer to the queriesof the normal investor
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Looking for Insurance in MFs
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Inference
This is the area where ULIP should look at. Theinference we can generate from the fact that
Mutual Fund is a pure Investment product and
investors dont want to mix insurance with the
MFs.
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RECOMMENDATIONS AND
CONCLUSION ULIP awareness programme need to be run by the company trough
different sources like- Newspaper, Magazines, TV etc.
On the local level few activities need to be undertaken to enhance thepeople awareness towards ULIPs.
ULIP products are quite similar to Mutual Fund but it is not advisable to
market ULIP products directly against Mutual Fund. ULIPs should be marketed as an Insurance Products with high returns and
flexible instrument which can be customized to suit a persons risk andreturn appetite.
For any Insurance company the agents of the company to sell its productsare like the face of the company. So, it is very essential for the company tokeep its consultants / Agents well informed about the new developmentstaking place in the industry. This will enhance the trust of the prospectivecustomers and will ultimately benefit the company. Company can organizeregular training programmes and regular tests can be conducted
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THANK YOU
Ankit Malhotra`
Roll No.- RR1809B75
Reg. No.- 10810844