Authorization..........................................................................................................

02
Acknowledgement..................................................................................................03
Executive Summary...............................................................................................07
List of Illustrations......................................................................................................08
1.
Introduction
1.1 Overview.................................................................................................11
1.2 List of Insurance
Companies....................................................................13
1.3 Purpose....................................................................................................1
5
1.4 Scope of the Study.................................................................................15
1.5 Objectives of the Project.........................................................................15
1.6 Methodology...........................................................................................15
1.7 Limitations of the Study..........................................................................16

2.

Industry Analysis
2.1 Insurance....................................................................................................
17
2.2 Characteristics of
Insurance.......................................................................17
2.3 History of Indian
Insurance........................................................................17
2.4 Indian Insurance IndustryPresent............................................................18

3.

Company Analysis
3.1 About IDBI

Fortis..................................................................... ..20

3.2 Vision...........................................................................................................
21
3.3 Mission........................................................................................................
21
3.4 Values..........................................................................................................
21

3.5 Product Mix of IDBI

Fortis...........................................................................22
3.5.1
........22

Wealthsurance.........................................................................

3.5.2
How does Wealthsurance
Work?....................................................23
3.5.3
Incomesurance........................................................................
.........24
3.5.4
How does Incomesurance
Work?....................................................24
3.5.5
Retiresurance..........................................................................
.........25
3.5.6
Homesurance..........................................................................
.........25
3.5.7
........25

4.

Bondsurance............................................................................

Unit Linked Insurance Plan (ULIP)

4.1 What is
ULIP?.............................................................................................26
4.2 Structure of
ULIPs......................................................................................26
4.3 What are the different kinds of charges in a
ULIP?..................................27
4.3.1
Premium Allocation
charge...........................................................27
4.3.2
Mortality
charges.........................................................................27
4.3.3
Fund Management
charges..........................................................27
4.3.4
Policy Administration
charges......................................................27
4.3.5
Surrender
charges.........................................................................28

4.3.6
Fund Switching
charges................................................................28
4.3.7
Service Tax
Deductions................................................................28
4.4 Example....................................................................................................2
9
4.5 Advantages of
ULIPs.................................................................................30

5.
Comparative Secondary Data Analysis of the ULIPs of the Selected
Companies
5.1 IDBI Fortis Life Insurance Company
Wealthsurance................................32
5.2 LIC Market Plus I (ULIP) Vs IDBI Fortis
Wealthsurance...........................35
5.3 ICICI Pinnacle Vs IDBI Fortis
Wealthsurance...............................................38
5.4 Tata AIG Life Lakshya Plus Vs IDBI Fortis
Wealthsurance..........................42
5.5 HDFC SLI Simplilife Vs IDBI Fortis
Wealthsurance......................................46

6.

Performance of the ULIPs of the Selected Companies

6.1 Performance Analysis of the Equity
Fund..................................................49
6.1.1
Tata AIG Life Equity
Fund...............................................................49
6.1.2
LIC Market Plus-I Equity
Fund........................................................50
6.1.3
ICICI PRU Pinnacle
Fund..................................................................50
6.1.4
HDFC SLI Simplilife Equity
Fund.....................................................51

6.1.5
IDBI Fortis Wealthsurance Equity Growth
Fund............................51
6.1.6
NAV Equity Fund
Analysis..............................................................52
6.1.7
NAV Vs Equity
Markets.................................................................53
6.2 Performance Analysis of the Bond
Fund.....................................................54
6.2.1
Tata AIG Bond
Fund........................................................................54
6.2.2
HDFC SLI Bond Opportunities
Fund................................................54
6.2.3
LIC Market Plus-I Bond
Fund..........................................................55
6.2.4
IDBI Fortis Wealthsurance Bond
Fund............................................55
6.2.5
ICICI PRU Ace Bond
Fund.................................................................56
6.2.6
NAV Bond Fund
Analysis.................................................................56
6.2.7
Result
Interpretation......................................................................57

7.

Survey Analysis
7.1 Aim..............................................................................................................
.58
7.2 Methodology................................................................................................
58
7.3 Findings &
Analysis.......................................................................................59
7.4 Factor Analysis (Using
SPSS).......................................................................67
7.4.1
.......67

Objective..................................................................................

7.4.2
........67

Procedure................................................................................

7.4.3
Input
Variables...............................................................................67
7.4.4
Output Sheet and
Analysis............................................................68
1.
KMO and Bartletts
Test..........................................................68
2.
69

Communalities..........................................................................

3.
Eigen
Values.............................................................................70
4.
Scree
Plot.................................................................................71
5.
Rotated Factor Matrix and Factor
Loadings...........................71
6.
Interpretation of
Factors.........................................................73

8.
Findings and
Conclusion....................................................................................74
9.
Recommendation and
Suggestions...................................................................76
10. References........................................................................................................
.77
11. Appendix...........................................................................................................
78

AUTHORIZATION
This project is authorized by Shanthi Yagyanath,Assistant Branch
Head,IDBI Federal LIC Ltd.

ACKNOLEDGEMENT
I,Shourjo Chaudhuri(11bsp1645),a student of IBS Mumbai would like to
express my heartfelt gratitude to Shanthi Yagyanath without whom this
project would not have been possible.