A Study on

investORS
AWARENESS
AND
PREFERNCE
FOR Insurance
SUMMER INTERNSHIP PROJECT

Under the Guidance of

Prof. Hiteksha Joshi

Kashvi Shah - 202100620010251

Harsh Parmar - 202100620010201
 FLOW OF DATA
INTRODUCTI
ON TO PRESENTATION
INTRODU
CTION TO
ANALYSIS AND
INTERPRETATI
RESEARCH COMPANY ON

01 02 03 04 05 06
RESEARC
INTROdUCT H
ION TO METHODO
INDUSTRY CONCLUSION
LOGY
 LITERATURE REVIEW
1 2 3
Patel & Dwivedi (2019) Mishra (2015) Selvankumar & Priyan (2012)
In this study it was found that
The objective of the study is to The study focuses on the pattern
although there was a time when and growth of life insurance. The
examine the impact of
LIC use to hold monopoly in this total business of LIC are always in
liberalization on life insurance
sector, but the time has changed
business in India. The life an increasing trend. Privatization of
now there are many private the insurance sector was feared to
insurance market has been
companies that are giving tough affect the prospects of the LIC but
enlarged after liberalization. It was
competition to public insurance
found that before IRDA opened up still the results shows that the LIC
companies by adapting new was continuing dominate in this
the insurance market for the
technologies. The insurance
private players LIC was the only sector.
companies must ensure quality
company in life insurance
products at a competitive price.
business.
Introduction to research
● To examine the impact of
various demographic factors on
customers towards public and
private life insurance company
and its services.
● To study and compare the
satisfaction, awareness and
perception towards public and
private life insurance company.
 INTRODUCTION TO
INDUSTRY
INSURANCE INDUSTRY :-
• INSURANCE SECTOR IN INDIA PLAYS A
DYNAMIC ROLE IN THE WELLBEING OF IT’S
ECONOMY.

• THE INSURACE SECTOR IN INDIA CONSISTS OF

TOTAL 57 INSURANCE COMPANIES. OUT OF
WHICH 24 COMPANIES ARE THE LIFE
INSURANCE PROVIDERS AND THE REMAINING
33 ARE NON-LIFE INSURERS.
 P E S T E L

 Democracy  Private sectors  Demographic  Company and  Environmental  Irdai

structure  Increase in life parameters customer Uncertainties  Rules and
 Different insurance and  Cultural  Analytical tool (COVID-19) regulations
parties ruling in decrease In non parameters  Phonepe  Faster claim  nia
central and stat life insurance
govt. settlement
 INTRODUCTION TO
COMPANY

● PNB Metlife was incorporated in India since 2001.

● PNB Metlife brings together the financial strength of leading global life insurance
provider, Metlife Inc. and the credibility and reliability of PNB, one of the India’s oldest
and leading nationalize bank.
RANK BRANCHES DIRECT SELLING
NATIONWIDE AGENTS

14 117 8829
8 11000+ 206 M
BANCASSURANCE EMPLOYEES ACTIVE
PARTNERS CUSTOMERS
 OPPORTUNITY
WEAKNESS • Future of Insurance THREATS
STRENGTH • Depends upon US • Competition in
Company
• Global Presence market Market.
• Health Insurance and
• Technology • High interest rates • New entrants
Life insurance

S W T
O
 Statistical Tools
Research Instrument Microsoft Excel,
Google forms, Journals and Microsoft Word, SPSS
research papers.

RESEARCH
METHODOLOGY

Research Design
Descriptive Research Sampling Method
Design Sample Size Non probability
100 respondents convenience sampling
Sampling Unit
People who have
insurance policies.
Data analysis
and
interpretation
Age 3% 2%
100 responses

25%

36%

Occupation
100 responses
34%

4%
Below 18 18-25 26-35 36-50 Above 50

31% 24%

6%

35%

Student Business Service

Housewife Professional
 Annual Income
100 responses
9%

31%
17%

12%
10%

10%

3%
8% In which sector do you invest?
100 responses

0 - 2.50 lakh 2.50 lakh - 3 lakh 3 lakh - 5 lakh 72%

80%
5 lakh - 7.50 lakh 7.50 lakh – 10.00 lakh 10 lakh – 12.50 lakh
12.5 lakhs – 15 lakh More than 15 lakh 70%

60% 49% 49%

50%

40%

30%
16%
20%

10%

0%
Insurance Banking Mutual Funds Other
Do you have insurance
policy?
100 responses

What type of insurance do you have?

100 responses
100%

Yes No

45%
55%

Private Public
Who influenced you to get insurance policy?
100 responses

70% 62%
60%
50% 43%

40%
24%
30%
14%
20% 9% 11%
10% 3%

0%
ia nt en
t
ds ily s e r How many insurance policies do you
ed e n m ue th
M Ag n m ie a g O
currently have?
ce er Fr F le
a
an ov ol
s ur G C 100 responses
In
4% 6%
2%

15%
48%

25%

1 2 3
What kind of insurance policies do you have?
100 responses
58%
60%
46%
50% 41%
40%
30%
18%
20% 9%
8%
4%
10% 1% 1%
0%
y y y y e y ce e n
l ic lic ic ic c ic nc a
po po ol Po
l rn
Po
l
an a Pl What is the average term of the
g e tP k s ua n s ur ur rm
vi
n l if en c In a in ns Te
le Ba Pl l I policies you have?
Sa ho nm ile n rty ca
w ey ob io pe di 100 responses
W do o n m n s o e
En M to Pe Pr M
Au

37%

63%

Upto 5 years Upto 20 years

 Have you ever received any benefits from
any of the policies you currently have?
100 responses

42%

58%
If yes, than how many time you
received it?
100 responses
1%
7%
Yes No
16%

51%

26%

0 1 2
3 More than 3
How regularly do you pay your
premiums?
100 responses

25%
37%

8%

Has any of your policies ever lapsed

30%
due to non-payment of premiums?
100 responses
Monthly Quarterly
Half Yearly Yearly 12%

88%

Yes No
Are you aware of life insurance
bonuses of your policy?
100 responses

26%

74%
Have you ever surrendered life insurance
policy?
100 responses
Yes No
20%

80%

Yes No
 CROSS TABS
Age * What type of insurance do you have

 
  Total
What type of insurance do you have

Private Public

Below 18 0 2 2
18-25 17 8 25
Age 26-35 16 18 34
36-50 22 14 36
Above 50 0 3 3
Total 55 45 100
 Annual Income * How regularly do you pay your premium

  How regularly do you pay your premiums

Total
Monthly Quarterly Half yearly Yearly

0 - 2.50 lakh 5 4 0 0 9
2.50 lakh - 3 lakh 9 5 0 3 17
3 lakh - 5 lakh 2 3 1 6 12
5 lakh - 7.50 lakh 3 4 0 3 10

7.50 lakh – 10.00 lakh 3 3 0 2 8

Annual Income
10 lakh – 12.50 lakh 2 0 0 1 3

12.5 lakhs – 15 lakh 5 2 2 1 10

More than 15 lakh 8 9 5 9 31

Total 37 30 8 25 100
 HYPOTHESIS TEST P- RESULT
PERFORMED VALUE

H0: There is no significant association between age and how regularly do you pay your Chi- square 0.571 H0 is
premium? accepted
H1: There is significant association between age and how regularly do you pay your premium?
H0: There is no significant association between age and are you aware of life insurance bonuses 0.180 H0 is
of your policies. accepted
H1: There is significant association between age and are you aware of life insurance bonuses of
your policies.
H0: There is no significant association between annual income and how regularly do you pay 0.335 H0 is
your premium? accepted
H1: There is significant association between annual income and how regularly do you pay your
premium?
H0: There is no significant association between age and the average term policies you have. 0.416 H0 is
H1: There is significant association between age and the average term policies you have. accepted

H0: There is no significant association between annual income and type of insurance do you 0.279 H0 is
have. accepted
H1: There is significant association between annual income and type of insurance do you have.

H0: There is no significant association between occupation and type of insurance do you have 0.103 H0 is
H1: There is significant association between occupation and type of insurance do you have accepted
 HYPOTHESIS TEST P- RESULT
PERFORMED VALUE

H0: There is no significant association between age and have you ever received any benefits Chi- square 0.015 H0 is
from your policies. rejected
H1: There is significant association between age and have you ever received any benefits from
your policies.
H0: There is no significant association between occupation and have you ever received any 0.036 H0 is
incentives from your insurance company. rejected
H1: There is significant association between occupation and have you ever received any
incentives from your insurance company.
H0: There is no significant association between occupation and have your ever lapsed you 0.508 H0 is
insurance policy due to non payment. accepted
H1: There is significant association between occupation and have your ever lapsed you
insurance policy due to non payment.
 HYPOTHESIS TEST P- RESULT
PERFORMED VALUE

H0 – There is no reason for life insurance death benefit One sample 0.059 H0 is
H1 – There is a reason for life insurance death benefit T - test rejected

H0 – There is no reason for life insurance build cash value 0.000 H0 is

H1 – There is a reason for life insurance build cash value rejected

H0 – There is no reason for life insurance tax benefit 0.000 H0 is

H1 – There is a reason for life insurance tax benefit rejected

H0 – There is no reason for life insurance good return 0.000 H0 is

H1 – There is a reason for life insurance good return rejected

H0 – There is no reason for life insurance diversification 0.000 H0 is

H1 – There is a reason for life insurance diversification rejected
 HYPOTHESIS TEST P- RESULT
PERFORME VALUE
D
H0 – Investors are not satisfied with insurance company One sample 0.003 H0 is
H1 – Investors are satisfied with insurance company T - test rejected

H0 – Investors are not satisfied with benefits and return of policy 0.000 H0 is
H1 – Investors are satisfied with benefits and return of policy rejected

H0 – Investors are not satisfied with trust company 0.001 H0 is

H1 – Investors are satisfied with trust company accepted
FINDINGS
● The preference for insurance is 35%,
24% and 31% among the group of
service people, business and
professional.
● Also, that banking and mutual funds are
also the most preferred investment
avenue for the investors.
● The source of taking life insurance, the
respondents gained 62% & 43%
information by family and friends.
CONCLUSION
● In this study, researcher found out that
every individual insured has his/her
own choice for different investment
pattern.

● The choice of their life insurance

depends on various factors such as age,
gender, Occupation, income, standard
of living, knowledge, risk, return,
safety of funds, interest rates etc.
Thank You