Sip Project Zeiloch

lOMoARcPSD|44141238
SIP Project - not much
Master of business administration sem 3 (Marwadi University)
Scan to open on Studocu
Studocu is not sponsored or endorsed by any college or university

Downloaded by Sruthi (sruthivattikota08@gmail.com)
lOMoARcPSD|44141238
SUMMER INTERNSHIP PROJECT REPORT
ON
“A Study On Factors Affecting Customers Preference Towards

Investing In Life Insurance Policies” on Zielhoch Pvt. Ltd.
Prepared By
Abhishek Gaurav - 92201823083
ACADEMIC YEAR: 2022 -2024
Guided By
Assistant Professor: Viral Tolia
Assistant Professor - Faculty of Management
A Report Submitted to
Marwadi University in Partial Fulfillment of the Requirements for the MBA in
Faculty of Management Studies
August - 2023

lOMoARcPSD|44141238
MARWADI UNIVERSITY
Rajkot-Morbi Road, At & Po. Gauridad,
Rajkot-360003, Gujarat, India
STUDENT DECLARATION
I, undersigned, Abhishek Gaurav the student of Marwadi

university, Rajkot. Here by declared that this Project Report is my own work and it has been
carried out under the guidance of Prof. Viral Tolia. This report has not been submitted to any other
University for examination.
Enrolment No. Name Signature
92201823083 ABHISHEK GAURAV
Place: …………….
Date: ……………..
ZIELHOCH PVT LTD ABHISHEK GAURAV 2

lOMoARcPSD|44141238
COMPANY CERTIFICATE

lOMoARcPSD|44141238
UNIVERSITY CERTIFICATE
This is to certify that Summer Internship Project work embodied in this dissertation titled “A study
on Customer Decision Making In Investments on Zielhoch pvt. Ltd.” was carried out by Abhishek
Gaurav at Marwadi University for partial fulfilment of MBA in Faculty of Business Management
to be awarded by Marwadi University. This research/project work has been carried out under my
guidance and supervision and it is up to my satisfaction.
Date: ………..
Place: Rajkot
Signature & Signature & Signature &
Name of Guide Name of Head of Dept. Name of Principal/Dean

lOMoARcPSD|44141238
PREFACE
Internship is an academic component of the MBA programme that is extremely beneficial in

gaining practical knowledge in this increasingly globalising environment. I learned how to use
theoretical information in practise thanks to this course. This research provides the chance to
demonstrate the application of information and skills necessary during training, to evaluate
performance, and to make realistic Summer recommendations on the provide data.
In today's extremely competitive market, the consultancy sector has a considerable impact on the
global economy. Small consulting company, in particular, are in high demand, prompting
manufacturers to employ a number of marketing strategies to gain a competitive advantage. One
such strategy is sales promotion, which comprises a variety of promotional activities aimed at
increasing sales, improving brand recognition, and attracting new customers and making
investments on various scheme of India first life mahajeevan plan.
The analysis is on the field of marketing on the topic of “A study on Customer Decision Making
In Investments on Zielhoch pvt Ltd.”. This comparative study focuses on Zielhoch and their
Investments , many significant competitors in the Indian market, and explores the world of sales
promotion within the compact investments category. With a focus on meeting the varied demands
and preferences of customers, many businesses have solidified themselves as leading competitors
in the Indian Consulting Company market.

lOMoARcPSD|44141238
TABLE OF CONTENTS
TOPIC PAGE NUMBER
Authorization
Acknowledgement
Abstract
Executive Summary
Chapter 1 : Introduction to Study
1.1 – Purpose of the Study
1.2 – Objective of the Study
1.3 – Scope of the Study
1.4 – Limitations of the Study
Chapter 2 : Introduction to Non-Banking Financial Companies
2.1 – Introduction to NBFCs
2.2 – Difference between Banks and NBFCs
2.3 – Types of NBFCs
2.4 – Types of Services provided by NBFCs
2.5 – Role of NBFCs in Indian Economy
Chapter 3 : Introduction to Zielhoch Pvt Ltd
3.1 – About the Company
3.2 – Zielhoch`s USP
3.3 – The Zielhoch Advantage
3.4 – Aim of Company
3.5 – Company Details
3.6 – Products by Zielhoch
3.7 – Major Competitors

lOMoARcPSD|44141238
3.8 – Partners with Zielhoch

3.9 – Work at Zielhoch
3.10 – Process of Loan Disbursement
Chapter 4 : SWOT Analysis of Zielhoch Pvt Ltd
Chapter 5 : Introduction to Insurance
5.1 – Introduction to Insurance and its Components
5.2 – Insurance Sector in India
5.3.1 – Market Size
5.3.2 – Government Initiatives
5.3.3 – Road Ahead
5.3.4 – Market Share
5.3.5 – Types of Insurance
Chapter 6 : Introduction to Life Insurance
6.1 – Tax Benefits associated with Life Insurance
6.2 – How Life Insurance Works
6.3 – Types of Life Insurance
6.3.1 – Term Insurance
6.3.2 – Whole Life Insurance
6.3.3 – Endowment Policy
6.3.4 – Money Back Policy
6.3.5 – Unit Linked Insurance Plans
6.4 – Consolidated benefits of Life Insurance Plans
Chapter 7 : Need for the Study and Literature Review
7.1 – Literature Review
Chapter 8 : Data Analysis
Chapter 9 : Research Methodology
Chapter 10 : Findings from the Study
Chapter 11 : Recommendations
Chapter 12 : Conclusion
Key Learnings and Achievements in SIP

lOMoARcPSD|44141238
References
Annexure 1 : Questionnaire

lOMoARcPSD|44141238
AUTHORIZATION
This is to certify that this report, titled “A STUDY ON FACTORS AFFECTING CUSTOMERS
PREFERENCE TOWARDS INVESTING IN LIFE INSURANCE POLICIES” is submitted
by Abhishek Gaurav as a partial fulfillment of the requirement of MBA Program of Marwadi
University, Rajkot. It is an original work done by Abhishek Gaurav carried out at Zielhoch Pvt.
Ltd. and making of the same is authorized by Mr. Chinmay Dev Tiwari, AHM, Zielhoch Pvt.
Ltd.
This report is formally submitted to company guide Mr. Chinmay Dev Tiwari, AHM & Company
guide, Zielhoch Pvt. Ltd. and Prof. Viral Tolia, Faculty Guide, Marwadi University, Rajkot.
“The Report is submitted as partial fulfilment of the requirement of MBA Program of Marwadi
University, Rajkot.”
Prof. Viral Tolia Mr. Chinmay Dev Tiwari
(Faculty Guide) (AHM & Company Guide)
Marwadi University, Rajkot Zielhoch Pvt. Ltd.

lOMoARcPSD|44141238
ACKNOWLEDGEMENT
In the present world of competition there is a race of existence in which those are having a will to come
forward, succeed. Summer Internship Project is like a bridge between theoretical and practical working.
With this willingness, I have had the privilege to do my Summer Internship at Zielhoch Pvt. Ltd.
Providing acknowledgement is a wonderful method to express your gratitude to those who have
helped you succeed in some way.
First and foremost, we would like to express our gratitude to Marwadi University for including the
SIP (Summer Internship Project) subject in our course, which has helped us get practical
understanding of the target industry.
We have had the honor of working with a team of project managers that have supported us from
the beginning of this project.
We would like to thank our respected dean sir, Dr. Sunil Kumar Jakhoria sir, our program
coordinator Dr. Meeta Joshi mam, our project coordinator Dr. Viral Tolia sir, and our project guide
Assistant Professor Viral Tolia sir faculty of Marwadi University, Rajkot in particular for
enabling us to complete this project on our own and assisting us in our work.
I am grateful once more for giving me the opportunity to complete this valuable internship.

lOMoARcPSD|44141238
ABSTRACT
The job undertaken at the SIP is to call on leads provided by the Referral Partners of the Company.
The call is intended to make the leads apply for Loans which would further be processed for
disbursement. Also to work on various Business Loan cases, I also handle segregating and
forwarding the documents received for Business Loan leads. This gives a brief idea about how the
verification of these documents is done and also understanding and studying these documents.
Various training sessions organized by the company gave an insight to various products offered by
Zielhoch pvt. ltd. These training session included a session regarding details about Financial
Planning, its benefits and importance. The session also focused on a brief idea about Mutual Funds
and its types along with various strategies for investing in Mutual Funds. One training session was
dedicated on Insurance Products. This session proved to be very useful considering my report topic
which covers the Factors affecting customer preferences while buying Life Insurance Policies.
Looking at the scope of Business opportunities in Life Insurance Company, the topic, Study on
Factors affecting customers preference towards investing in Life Insurance Policies, will help to
understand the actual parameters on to what would be the factors for investing in Life Insurance
policies. Zielhoch is a growing FinTech Platform and has shown an incredible growth in increased
number of customers every year. It has achieved milestones in a very less amount of time. With
growing number of customers, the interaction with customers and their preferences in buying Life
Insurance Policies would help to understand what changes can be made to bring about awareness
amongst the people regarding Life Insurance Policies and will help companies build new strategies
and products.

lOMoARcPSD|44141238
EXECUTIVE SUMMARY
Name : Abhishek Gaurav

Enrollment Number : 92201823083
Email ID : abhishekgaurav3873@gmail.com
Name of Organization : Zielhoch Pvt Ltd.
Address of Company
: Pearls Best Heights II, 906, 9th Floor, Netaji Subhash Place,
Pitampura, Delhi, 110034
City : Delhi
The study named “A STUDY ON FACTORS AFFECTING CUSTOMERS PREFERENCE

TOWARDS INVESTING IN LIFE INSURANCE POLICIES” is about understanding the
factors that affect the customer’s decision while buying Life insurance Policies. The entire
Internship was a great learning because of its vast exposure to products and corporate world.
The main objective of the project was to study the various factors influencing customer investment
decisions in Life insurance Policy. It also studies the impact of various demographic factors on
customer Life Insurance Investment Decision. It also evaluates various preferences in a company,
in an insurance plan, and also which company is preferred the most for Life Insurance Policies.

lOMoARcPSD|44141238
The findings of the research were that customer decision to buy a Life Insurance Policy majorly
depends on demographic factors like the Age, Gender and Income Level. Occupation is not
dependent on taking Life Insurance Policies. LIC stands as the first preference in company and
Money back guarantee is the first preference for choosing a life insurance policy. Also, customers
prefer Money Back Policy and ULIP Plans for investment in Life Insurance Policies. There are
also recommendations included in the report for making Insurance as an Investment.

lOMoARcPSD|44141238
CHAPTER 1 : INTRODUCTION TO STUDY
1. Purpose, Objective, Scope and Limitation of the Study
1.1. Purpose of the Study

 The study aims at understanding the market of Insurance. Insurance being one of the most
important Financial Product in the market, still has not reached a more number of customers.
 The study also aims to understand various Life Insurance Products.
 The main motive of the study is to understand the various factors that affect the customers
decision in buying a Life Insurance Policy.
 The study also aims to understand the various types of products provided by Zielhoch Pvt.
Ltd.
 To understand the level of awareness regarding insurance products within the customers.
1.2. Objective of the Study.
The present Descriptive and Exploratory type of Research is chosen with an objective of studying
factors which influence customers policy buying decisions and also analyze the customers
preferences while Life policy Investment decision making. Factors related to Insurance would be

lOMoARcPSD|44141238
studied in this project. The aim of study is also to understand which is the most preferred Company
for buying Insurance policies. Following are the main objectives of the study :
a) To study various factors influencing Customer Investment Decision in Life Insurance.

b) To study and analyze the impact of various demographic factors on customers life insurance
investment decision.
c) To evaluate preferences of the customers while taking life insurance investment decision.
d) To study and rank the factors responsible for the selection life insurance as an investment
option.
e) To offer suggestions for popularizing life insurance among the public at large.

lOMoARcPSD|44141238
1.3. Scope of the Study
The insurance industry is one of the fastest growing industries in the country and offers abundance
growth opportunity to the life insurers. When compared with the developed foreign countries, the
Indian life insurance industry has achieved only a little because of the lack of insurance awareness,
ineffective marketing strategies, poor affordability and low investment in life insurance products.
The huge and ever rising population levels in our country provide an attractive opportunity but still
nearly 70% Indian lives is un-insured. The study is basically intended to discover and examine the
factors affecting customers decision towards investment in life insurance policy.
1.4. Limitations of the Study

 The study is limited to respondents from Pune area majorly.
 Lack of awareness regarding Zielhoch was a major problem in reaching to customers.
 Getting Personal information like Income, Insurance policy was a difficult task.
 Lesser awareness of various Life Insurance Products was one major problem while conducting
the survey. It was difficult to make people understand each and every product of Insurance.
 Understanding and filling the Google Form was a difficult task because of not so easy
understanding of Google Form and questions.

lOMoARcPSD|44141238
CHAPTER 2 : INTRODUCTION TO NON-BANKING FINANCIAL

COMPANIES
2.1. Introduction to NBFCs
Definition of NBFCs : “NBFCs are Companies that are registered under The Companies Act, 1956
of India. NBFCs are engaged in business of Loans and Advances, Acquisition of shares, bonds,
hire purchase Insurance Business or chit-fund Business but does not include principal business
includes agriculture, industrial activity or the sale, purchase or construction of immovable
property.”
Non-Banking Financial Companies play an important and crucial role in broadening access to
financial services, enhancing competition and diversification of the financial sector. There are
different types of institutions involved in financial services in India. These include commercial
banks, financial institutions (FIs) and non-banking finance companies (NBFCs). Due to the
financial sector reforms, NBFCs have been emerged as an integral part of the Indian financial
system. Non-banking finance companies frequently act as suppliers of loans & credit facilities and
accept deposits, operating mutual funds and similar other functions. They are competitive and
complimentary to banks and financial institutions. Many steps were taken in 1995-96 to reduce
controls and remove operational constraints in the banking system. These include interest rate
decontrol, liberalization and selective removal of Cash Reserve Ratio (CRR) stipulation, enhanced
refinance facilities against government and other approved securities.
NBFCs have registered significant growth in recent years both in terms of number and volume of
business transactions (Table-2). The equipment leasing and hire purchase finance companies
finance productive assets. NBFCs role in financing consumer durables and automobiles are very

lOMoARcPSD|44141238
aggressive. The rapid growth in the business of NBFCs urged for effective regulatory action to
protect the interests of investors. The Reserve Bank has started regulating the activities of NBFCs
with the twin objectives of ensuring that they sub serve the financial system efficiently and do not
jeopardize the interest of depositors.
2.2 DIFFERENCE BETWEEN BANKS AND NBFCS
NBFCs perform functions similar to that of banks but there are a few differences:
 Provides Banking services to People without holding a Bank license.

 An NBFC cannot accept Demand Deposits.
 An NBFC is not a part of the payment and settlement system and as such.
 An NBFC cannot issue Cheques drawn on itself.
 Deposit insurance facility of the Deposit Insurance and Credit Guarantee Corporation is not
available for NBFC depositors, unlike banks.
 An NBFC is not required to maintain Reserve Ratios (CRR, SLR etc.)
 An NBFC cannot indulge Primarily in Agricultural, Industrial Activity, Sale-Purchase,
Construction of Immovable Property.
 Foreign Investment allowed up to 100%.

lOMoARcPSD|44141238
2.3. TYPES OF NBFCs

Asset
Finance
Company
(AFC)
Infrastructure
Investment
Debt Fund Company (IC)
(IDF-NBFC)
Types of
NBFCs
Systemically
Important Core Loan
Investment Companies
Company
(LC)
(CIC-ND-SI)
Infrastructure
Finance
Company
(IFC)
2.4. TYPES OF SERVICES PROVIDED BY NBFCs
NBFCs provide range of financial services to their clients. Types of services under non-banking
finance services include the following:
1. Hire Purchase Services
2. Leasing Services
3. Housing Finance Services
4. Asset Management Services
5. Venture Capital Services
6. Mutual Benefit Finance Services (Nidhi) banks.
 Hire Purchase Services
Hire purchase the legal term for a conditional sale contract with an intention to finance consumers
towards vehicles, white goods etc. If a buyer cannot afford to pay the price as a lump sum but can

lOMoARcPSD|44141238
afford to pay a percentage as a deposit, the contract allows the buyer to hire the goods for a monthly
rent. If the buyer defaults in paying the installments, the owner can repossess the goods. HP is a
different form of credit system among other unsecured consumer credit systems and benefits. Hero
Honda Motor Finance Co., Bajaj Auto Finance Company is some of the HP financing companies.
 Leasing Services
A lease or tenancy is a contract that transfers the right to possess specific property. Leasing service
includes the leasing of assets to other companies either on operating lease or finance lease. An
NBFC may obtain license to commence leasing services subject to , they shall not hold, deal or
trade in real estate business and shall not fix the period of lease for less than 3 years in the case of
any finance lease agreement except in case of computers and other IT accessories. ➢ Housing
Finance Services
Housing Finance Services means financial services related to development and construction of
residential and commercial properties. An Housing Finance Company approved by the National
Housing Bank may undertake the services /activities such as Providing long term finance for the
purpose of constructing, purchasing or renovating any property, Managing public or private sector
projects in the housing and urban development sector and Financing against existing property by
way of mortgage. ICICI Home Finance Ltd., LIC Housing Finance Co. Ltd., HDFC is some of the
housing finance companies in our country.
 Asset Management Company
Asset Management Company is managing and investing the pooled funds of retail investors in
securities in line with the stated investment objectives and provides more diversification, liquidity,
and professional management service to the individual investors. Mutual Funds are comes under
this category. Most of the financial institutions having their subsidiaries as Asset Management
Company like SBI, BOB, UTI and many others.

lOMoARcPSD|44141238
 Venture Capital Companies
Venture capital Finance is a unique form of financing activity that is undertaken on the belief of
high-risk-high-return. Venture capitalists invest in those risky projects or companies (ventures) that
have success potential and could promise sufficient return to justify such gamble. Venture capitalist
not only provides finance but also often provides managerial or technical expertise to venture
projects. In India, venture capital concentrate on seed capital finance for high technology and for
research & development. ICICI ventures and Gujarat Venture are one of the first venture capital
organizations in India and SIDBI, IDBI and others also promoting venture capital finance activities.
 Mutual Benefit Finance Companies (MBFC's)
A mutual fund is a financial intermediary that allows a group of investors to pool their money
together with a predetermined investment objective. The mutual fund will have a fund manager
who is responsible for investing the pooled money into specific securities/bonds. Mutual funds are
one of the best investments ever created because they are very cost efficient and very easy to invest
in. By pooling money together in a mutual fund, investors can purchase stocks or bonds with much
lower trading costs than if they tried to do it on their own. But the biggest advantage to mutual
funds is diversification.
There are two main types of such funds, open-ended fund and close-ended mutual funds. In case of
open-ended fund, the fund manager continuously allows investors to join or leave the fund. The
fund is set up as a trust, with an independent trustee, who keeps custody over the assets of the trust.
Each share of the trust is called a Unit and the fund itself is called a Mutual Fund. The portfolio of
investments of the Mutual Fund is normally evaluated daily by the fund manager on the basis of
prevailing market prices of the securities in the portfolio and this will be divided by the number of

lOMoARcPSD|44141238
units issued to determine the Net Asset Value (NAV) per unit. An investor can join or leave the fund
on the basis of the NAV per unit.
In contrast, a close-end fund is similar to a listed company with respect to its share capital. These
shares are not redeemable and are traded in the stock exchange like any other listed securities. Value
of units of close-end funds is determined by market forces and is available at 20-30% discount to
their NAV.
2.5. ROLE OF NBFCs IN INDIAN ECONOMY
NBFCs (Non-Banking Financial Companies) play an important role in promoting inclusive growth
in the country, by catering to the diverse financial needs of bank excluded customers. Further,
NBFCs often take lead role in providing innovative financial services to Micro, Small, and Medium
Enterprises (MSMEs) most suitable to their business requirements. NBFCs do play a critical role
in participating in the development of an economy by providing a fillip to transportation,
employment generation, wealth creation, bank credit in rural segments and to support financially
weaker sections of the society. Emergency services like financial assistance and guidance is also
provided to the customers in the matters pertaining to insurance.
NBFCs are financial intermediaries engaged in the business of accepting deposits delivering credit
and play an important role in channelizing the scarce financial resources to capital formation. They
supplement the role of the banking sector in meeting the increasing financial needs of the corporate
sector, delivering credit to the unorganized sector and to small local borrowers. However, they do
not include services related to agriculture activity, industrial activity, sale, purchase or construction
of immovable property. In India, despite being different from banks, NBFC are bound by the Indian
banking industry rules and regulations.
NBFC focuses on business related to loans and advances, acquisition of shares, stock, bonds,
debentures, securities issued by government or local authority or other securities of like marketable

lOMoARcPSD|44141238
nature, leasing, hire-purchase, insurance business, chit business. The banking sector would always
be the most important sector in the field of business because of its credibility in supporting
manufacturing, infrastructural development and even being the backbone for the common man's
money. But despite this, the role of NBFCs is critical and their presence in a country would only
boost the economy in the right direction.
P Vijaya Bhaskar, ex – Executive Director, RBI, explained how NBFC companies are game-
changers that are very important to the economy
 Size of sector : The NBFC sector has grown considerably in the last few years despite the
slowdown in the economy.
 Growth : In terms of year-over-year growth rate, the NBFC sector beat the banking sector in
most years between 2006 and 2013. On an average, it grew 22% every year. This shows, it is
contributing more to the economy every year.
 Profitability : NBFCs are more profitable than the banking sector because of lower costs. This
helps them offer cheaper loans to customers. As a result, NBFCs' credit growth - the increase in
the amount of money being lent to customers – is higher than that of the banking sector with
more customers opting for NBFCs.
 Infrastructure Lending : NBFCs contribute largely to the economy by lending to infrastructure
projects, which are very important to a developing country like India. Since they require large
amount of funds, and earn profits only over a longer time-frame, these are riskier projects and
deters banks from lending. In the last few years, NBFCs have contributed more to infrastructure
lending than banks.
 Promoting inclusive growth : NBFCs cater to a wide variety of customers - both in urban and
rural areas. They finance projects of small-scale companies, which is important for the growth
in rural areas. They also provide small-ticket loans for affordable housing projects. All these
help promote inclusive growth in the country.

lOMoARcPSD|44141238
NBFCs aid economic development in the following ways :
i. Mobilization of Resources - It converts savings into investments

ii. Capital Formation - Aids to increase capital stock of a company
iii. Provision of Long-term Credit and specialized Credit iv. Aid in Employment Generation
v. Help in development of Financial Markets
vi. Helps in Attracting Foreign Grants
vii. Helps in Breaking Vicious Circle of Poverty by serving as government's instrument
The Technology Backbone
With the increasing role of NBFCs in the Indian Economy, the Reserve Bank of India has issued
the notification Master Direction - Information Technology Framework for the NBFC Sector this
year. The directions on IT Framework for the NBFC sector are expected to enhance safety, security,
efficiency in processes leading to benefits for NBFCs and their customers. NBFCs with asset size
above 500 crores are expected to adhere to the new "recommendations" by 30th September 2018.
Recommendations for smaller NBFCs include developing basic IT systems mainly for maintaining
the database. While larger NBFCs stare at a strict deadline, smaller NBFCs, especially Fintech
startups have a bigger problem at hand; an identity crisis! The business models of startups like
BankBazaar mandate that they do not become a NBFC, while the nature of operations of startups
like LendingKart makes them a NBFC as part of the legal compliance.

lOMoARcPSD|44141238
CHAPTER 3 : INTRODUCTION TO ZIELHOCH PVT LTD
3.1. ABOUT THE COMPANY

Zielhoch, India’s BFSI sector and Financial Services having 8 years experience. Zielhoch also
focuses on B2C segments. Zielhoch Pvt Ltd is India's first FinTech platform that focuses on B2B
segment and offers 360° Financial Solutions to its users. Its services are wealth advisory,
accounting, consulting services and vast product suite includes all Housing Loans, Health
Insurance, Mutual funds, Group Medical Aims, Investments, Credit Cards, Life Insurance,
Retirement planning and Real Estate based products. Zielhoch, is the outcome of the professional
& entrepreneurial commitment of its Founder Rajesh P Nair and its top management team, to
establish a high quality, customer centric, service driven FinTech catering to the future businesses
of India. Zielhoch has adopted International best practices, the highest standards of service quality
and operational excellence, and offers comprehensive banking and financial solutions to all its
valued customers.
Zielhoch has a knowledge driven approach and offers a superior customer experience for its retail,
corporate and emerging corporate clients. Understanding customer needs intimately, providing a
complete product range for clients and total commitment to service delivery is their hallmark.
They’ve partnered with all the Indian/ Foreign banks, Non- Banking Finance & Housing Finance
Companies and Insurance companies to offer the best products to their clients.
Zielhoch is India`s fastest growing marketplace and a FinTech platform for Loans and Credit Cards.
Zielhoch aims to make personal finance decisions easy, convenient and transparent for its
customers. In less than 5 years, Zielhoch has disbursed more than 1000 Crores worth loans and
catered the financial needs of more than 30,000 customers.
Zielhoch’s intuitive platform compares product offerings on the basis of key criteria such as
processing fees, interest rates, tenure and other features that matter the most to the customer. Apart

lOMoARcPSD|44141238
from providing unbiased comparison insights, we also provide you with best-in-class assistance so
that you get the best possible deal with minimum hassles.
In a nutshell, Zielhoch ensures that the customer is provided with the best product through the most
convenient and hassle-free processes.
3.2. Zielhoch’s USP:
 A Wide Range of Products: Zielhoch is the only online financial marketplace in India that
offers a complete spectrum of financial products, ranging from retail lending products, such as
credit cards, personal loans, home loans, loans against property, auto loans etc to investment
products like mutual funds, Insurance and fixed deposit. Zielhoch partners with over 50+ banks
and other financial institutions, catering to all segments with varied demographics.
 Unbiased & Customized Advise: Zielhoch offers customized solutions to all lending and
investment needs of a customer. The comparison engine is an intuitive platform that provides
unbiased choices to their customers, based on the profile and needs. After processing the latest
financial numbers from virtually all banks and fiscal organizations, this engine helps users arrive
at a smarter decision instantly.
 A Seamless Journey: Zielhoch also helps customers make the right choice and assists them
throughout the transaction process with the bank. A seamless product journey and assistance
over the phone from the sales force, makes the entire buying process at Zielhoch simple and
speedy.
 Paperless and Presence-less Processes: Zielhoch is focused on using technology to build
presence-less and paperless solutions in the financial services aggregation space. Riding on the
Indian Government's India Stack initiative that aims to digitize customer identification and
verification, Zielhoch is developing solutions where processes are completed on its platform
without the need for customers to either visit banks or do multiple sheets of paperwork.

lOMoARcPSD|44141238
 Awards and Accolades: In recognition of its stellar performance since inception, Zielhoch was
felicitated with the Among the 10 Most Admired Non-banking Financial Companies in 2018 -
by Insight Success in June 2018.
3.3. The Zielhoch Advantage
30000+ Happy Customers 18000+ Referral Partners
1000+ Crore Disbursements Fastest Growing FinTech

100+ Crore AUM Pla orm for B2B and B2C
10 Most Admired NBFCs

50+ Products in India

lOMoARcPSD|44141238
3.4. AIM OF COMPANY
Our goal is to change investors' perceptions so that they make varied investing decisions
rather than traditional ones. Diversifying your assets is always a good idea in today's
dynamic environment. By giving them more investment options, we attempt to change
investors' fundamental mindsets from a traditional to a modern one. to steadily increase
our market share while maintaining the same level of commitment to each client.
Additionally, ensure that we develop into every client's most profitable resource.
It further aims to achieve the following :
 To provide 360 Degree Financial Solutions to its customers and Referral Partners
 To provide additional income to its Referral Partners
 Additional Income For Individual Insurance Agents, AMFI Agents, Real Estate Agents &
Financial Consultants
 To become a bank by the year 2025
3.5 - COMPANY DETAILS

Company Name Zielhoch Pvt Ltd
Corporate Identification Number U74900PN2014PTC152269
Registration Number 152269
Company Category Company limited by Shares
Company Sub Category Non-Govt Company
Class of Company Private
Date of Incorporation 21st August 2014
Age of Company 4 years, 8 months

lOMoARcPSD|44141238
Authorized Share Capital ₹1,000,000
Paid Up Capital ₹800,000
Listing Status Unlisted
Directors 1. Rajesh Purushothaman Nair

(Founder and Managing Director)
2. Ranjana Prashant Ambulgekar
(Director)
3. Vanita Rajesh Nair
(Co-Founder)
4. Nikhil Arun Kanetkar (Investor)
5. Ashwini Nikhil Kanetkar
(Investor)
Chief Technical Officer Mr. Divjyot Singh
Associate Vice President Mr. Aniket Nadkarni

lOMoARcPSD|44141238
3.6 - PRODUCTS BY EARNWEALTH
Loans Investments Insurance

Home Loan
Mutual Funds Life Insurance
Personal Loan
Business Loan
Tax Free Bonds Health Insurance
Short Term Loan
Mortgage Loan
Fixed Deposits Car Insurance
Credit Card/Line

lOMoARcPSD|44141238
3.7. MAJOR COMPETITORS
Bank Bazaar.com Policy Bazaar.com
Bajaj Finance Ltd. Aditya Birla Finance Ltd.
3.8 - PARTNERS WITH ZIELHOCH

lOMoARcPSD|44141238
3.9 -WORK AT ZIELHOCH :
Zielhoch as mentioned is a FinTech Company and is a one stop destination for its customer’s
financial needs. Zielhoch promises to provide loan within 48 hours to its customers. The company
gets around 30,000+ applications for loan. Zielhoch helps in providing assistance to the customers
who need loan. These leads are generated by Referral Partners of the Company.
▪ Referral Partners : Referral Partners of Zielhoch act like the Distribution Partners for Zielhoch.
Referral Partners are the people who provide leads to the company. The leads can be for
Personal Loan, Business Loan, Home Loan, Loan Against Property (LAP), Insurance, Mutual
Funds, Investments, Financial planning, etc. The leads are further processed by Zielhoch and
are forwarded to its partners for Loan Disbursement Process. After the loan is disbursed, the
Referral Partner who referred the lead, gets a commission from the company. 40% of the total

lOMoARcPSD|44141238
commission earned by Zielhoch on the amount of loan disbursed, is given to the Referral
Partner. Currently there are more than 15000+ Referral Partners of Zielhoch in PAN India.
3.10 - PROCESS OF LOAN DISBURSEMENT :
The Referral Partner initially provides the lead of a customer on the Website or the Zielhoch App
(available for Android as well as iOS). The customer receives a Link on their Phone which contains
an Online Loan Application form. The Loan Application Form contains of 34 odd questions which
captures the basic details of the customer. The company thus collects the data of the customer and
further forwards the data to its Partners who actually provide loan. The data is automatically
scanned and filtered and sent to the Banks or NBFCs according to their criteria. For e.g. Early
Salary is a company associated with Zielhoch and accepts the application of the customer only if
the salary of customer is above Rs. 20000. Hence when an application comes to Zielhoch with a
salary of less than 20000, it does not forward the same to Early Salary. Similarly, every company
or Bank associated with Zielhoch have their certain criteria, and the applications reach the Bank
after getting filtered and scanned.
After the Bank receives the application, the customer needs to download the mobile application of
that particular bank and upload their documents on the same. Once the customer uploads the
documents, the documents are checked and verified. The documents include Aadhar Card, PAN
Card, Address Proof, Salary Slip of 3 months and Bank Statement in PDF for 6 Months. After
studying the documents, the eligibility of the customer is checked. Eligibility means that for how
much amount of loan is the customer eligible to get. This calculation is done while considering the
Net Salary of the customer.. Once these documents get verified, the Underwriter rejects or accepts
the loan on the basis of his documents. The customer is then asked to add Bank Details to transfer
the Loan Amount. And hence the loan is disbursed.

lOMoARcPSD|44141238

lOMoARcPSD|44141238
CHAPTER 4 : SWOT ANALYSIS OF ZIELHOCH PVT LTD.
❖ Strengths
1. Zielhoch is the only B2B FinTech Platform in India.

2. Completely Online Platform makes Zielhoch a technologically advanced Fintech Company.
3. Customer Retention because of high level of satisfaction within the customers.
4. Good Reputation within the Market.
5. One stop destination for all Financial Needs of a Customer.
6. Cross-selling with the customers help in retaining the customers and avoid losing them to
competitors.
7. Amongst Top 10 Most Admired NBFCs in India.
8. Strong Team bonding because of team activities like Bandhan and Parivartan.
9. Increasing number of Referral Partners every day (currently 18000+).
❖ Weakness
1. Being a Start-up Company, the company is still in a developing stage, and so not a completely
well settled Business.
2. The IT Team being yet in its developing phase, faces a lot of bugs and needs a more smooth
working.
3. Calling to the Customer is late at times after they have applied for the loan, which results in
losing the customers.
4. Slow Process of Loan Disbursement.
5. Lesser number of Disbursements as compared to the number of applications coming in.
6. Less number of Employees.
7. Less customers for products like Home Loan, LAP, Insurance, etc.

lOMoARcPSD|44141238
❖ Opportunities
1. Zielhoch can earn more profits by focusing on both B2B as well as B2C segments.
2. Building up a more strong IT team by training and recruiting more talents will help Zielhoch
to have a stable IT Team and thus have a smooth functioning.
3. Increasing its promotion for Insurance Products to customers will help to get more customers
for Insurance which is a fast growing product today.
4. Increasing Number of Employees for the company so as to have more faster customer
interaction thus leading to less losing of customers.
5. Focus on other products like Home Loan and LAP and other 50+ products will help company
generate a good revenue.
6. Hiring an HR Professional in order to have a more smooth functioning of Business.
7. Increased number of Referral Partners will help Zielhoch to become a Bank early then its vision
of becoming one before 2025.
8. Understanding of why the applications are being rejected can help the company to get more
better potential customers and also help in future decisions.
❖ Threats
1) Increasing companies providing loans may lead to loss of customers. If a customer is directly
linked with the Bank, then he/she may not prefer coming to Zielhoch for Assistance.
2) Losing customers because of reaching late to a customer on call.
3) Losing of potential employees may lead to slow pace growth of the company.
4) Less use of Potential Product Base may lead to losing customers and indirectly losing Business.
5) Advancement in Technology with the competitors may affect the performance of Zielhoch.

lOMoARcPSD|44141238
CHAPTER 5 : INTRODUCTION TO INSURANCE
Definition : “Insurance is a contract, represented by a policy, in which an individual or entity

receives financial protection or reimbursement against losses from an insurance company.”
5.1 - INTRODUCTION TO INSURANCE AND ITS COMPONENTS
Insurance is a means of protection from financial loss. It is a form of risk management, primarily
used to hedge against the risk of a contingent or uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier
or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder.
The insurance transaction involves the insured assuming a guaranteed and known relatively small
loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the
insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible
to financial terms, and usually involves something in which the insured has an insurable interest
established by ownership, possession, or pre-existing relationship.
The insured receives a contract, called the insurance policy, which details the conditions and
circumstances under which the insurer will compensate the insured. The amount of money charged
by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the
premium. If the insured experiences a loss which is potentially covered by the insurance policy, the
insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge
its own risk by taking out reinsurance, whereby another insurance company agrees to carry some
of the risk, especially if the primary insurer deems the risk too large for it to carry. Insurance
involves pooling funds from many insured entities (known as exposures) to pay for the losses that
some may incur. The insured entities are therefore protected from risk for a fee, with the fee being

lOMoARcPSD|44141238
dependent upon the frequency and severity of the event occurring. In order to be an insurable risk,
the risk insured against must meet certain characteristics. Insurance as a financial intermediary is a
commercial enterprise and a major part of the financial services industry, but individual entities can
also self-insure through saving money for possible future losses.
5.2 - INSURANCE SECTOR IN INDIA
The insurance industry of India consists of 63 insurance companies of which 24 are in life insurance
business and 39 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is
the sole public sector company. Apart from that, among the non-life insurers, there are seven public
sector insurers. In addition to these, there are two national re-insurer. Other stakeholders in Indian
Insurance market include agents (individual and corporate), brokers, surveyors and third party
administrators servicing health insurance claims.
Life insurance companies offer coverage to the life of the individuals, whereas the non-life
insurance companies offer coverage with our day-to-day living like travel, health, our car and bikes,
and home insurance. Not only this, but the non-life insurance companies provide coverage for our
industrial equipment’s as well. Crop insurance for our farmers, gadget insurance for mobiles, pet
insurance etc. are some more insurance products being made available by the general insurance
companies in India.

lOMoARcPSD|44141238
5.3.1 – MARKET SIZE
Government's policy of insuring the uninsured has gradually pushed insurance penetration in the
country and proliferation of insurance schemes.
Gross premiums written in India reached Rs 5.53 trillion in FY18, with Rs 4.58 trillion from life
insurance and Rs 1.51 trillion from non-life insurance. Overall insurance penetration (premiums as
% of GDP) in India reached 3.69 per cent in 2017 from 2.71 per cent in 2001.
In FY19 (up to Jan 2019), premium from new life insurance business increased 3.91 per cent
yearon-year to Rs 1.59 trillion. In FY19 (up to Jan 2019), gross direct premiums of non-life insurers
reached Rs 1.39 trillion, showing a year-on-year growth rate of 12.65 per cent.

lOMoARcPSD|44141238
5.3.2 – GOVERNMENT INITIATIVES
The Government of India has taken a number of initiatives to boost the insurance industry. Some
of them are as follows:
 In September 2018, National Health Protection Scheme was launched under Ayushman
Bharat to provide coverage of up to Rs 500,000 (US$ 7,723) to more than 100 million
vulnerable families. The scheme is expected to increase penetration of health insurance in
India from 34 per cent to 50 per cent.
 Over 47.9 million famers were benefitted under Pradhan Mantri Fasal Bima Yojana
(PMFBY) in 2017-18.
 The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue
redesigned initial public offering (IPO) guidelines for insurance companies in India, which
are to looking to divest equity through the IPO route.
The government also strives hard to provide insurance to individuals in a below poverty line by
introducing schemes like the:
1. Pradhan Mantri Suraksha Bima Yojana (PMSBY),

2. Rashtriya Swasthya Bima Yojana (RSBY) and
3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
Introduction of these schemes would help the lower and lower-middle income categories to utilize
the new policies with lower premiums in India.

lOMoARcPSD|44141238
5.3.3 – ROAD AHEAD
The future looks promising for the life insurance industry with several changes in regulatory
framework which will lead to further change in the way the industry conducts its business and
engages with its customers.
The overall insurance industry is expected to reach US$ 280 billion by 2020. Life insurance
industry in the country is expected grow by 12-15 per cent annually for the next three to five years.
Demographic factors such as growing middle class, young insurable population and growing
awareness of the need for protection and retirement planning will support the growth of Indian life
insurance.

lOMoARcPSD|44141238
5.3.4 – MARKET SHARE
Market Share of Major Insurance Companies
14%
5% LIC
6%
HDFC Standard Life
7%
SBI Life Insurance
68%
ICICI Pruden al
Others
Interpretation :
As we can see, according to IRDA, the highest market share currently in India is of Life Insurance
Company, the reason being its trustworthiness and its existence for these many years. It is followed
by HDFC Standard Life with 7% of Market share and SBI Life with 6% of Market Share. ICICI
Prudential holds 5% of Market Share. The remaining 14% has been a total of all other Insurance
Companies.

lOMoARcPSD|44141238
5.3.5 – TYPES OF INSURANCE
Life Insurance Car Insurance Health Insurance Home Insurance Travel Insurance
Fire Insurance Bike Insurance

lOMoARcPSD|44141238
CHAPTER 6 : INTRODUCTION TO LIFE INSURANCE
Life insurance is a contract that offers financial compensation in case of death or disability. Some
life insurance policies even offer financial compensation after retirement or a certain period of time.
Life insurance, thus, helps you secure your family’s financial security even in your absence. You
either make a lump-sum payment while purchasing a life insurance policy or make periodic
payments to the insurer. These are known as premiums. In exchange, your insurer promises to pay
an assured sum to your family in the event of death, disability or at a set time. Life insurance can
help you support your family even after retirement.
Definition : Life insurance (or life assurance) is a contract between an insurance policy holder
and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of
money (the benefit) in exchange for a premium, upon the death of an insured person (often the
policy holder).
The purpose of life insurance is to provide financial protection to surviving dependents after the
death of an insured. It is essential for applicants to analyze their financial situation and determine
the standard of living needed for their surviving dependents before purchasing a life insurance
policy. Life insurance agents or brokers are instrumental in assessing needs and establishing the
type of life insurance most suitable to address those needs. Several life insurance channels are
available including whole life, term life, universal life and variable universal life policies. It is
prudent to re-evaluate life insurance needs annually, or after significant life events like marriage,
divorce, the birth or adoption of a child and major purchases, like a house.

lOMoARcPSD|44141238
6.1 -Tax Benefits associated with Life Insurance Policies :

• Life insurance not only ensures the well-being of your family, it also brings tax benefits.
• The amount you pay as premium can be deducted from your total taxable income.
• However, this is subject to a maximum of Rs 1.5 lakh, under Section 80C of the Income Tax
Act.
• The premium amount used for tax deduction should not exceed 10% of the sum assured.
6.2 - How Life Insurance Works

There are three major components of a life insurance policy.
 Death benefit is the amount of money the insurance company guarantees to the beneficiaries
identified in the policy upon the death of the insured. The insured will choose their desired death
benefit amount based on estimated future needs of surviving heirs. The insurance company will
determine whether there is an insurable interest and if the insured qualifies for the coverage
based on the company's underwriting requirements.
 Premium payments are set using actuarially based statistics. The insurer will determine the cost
of insurance (COI), or the amount required to cover mortality costs, administrative fees and
other policy maintenance fees. Other factors that influence the premium are the insured’s age,
medical history, occupational hazards and personal risk propensity. The insurer will remain
obligated to pay the death benefit if premiums are submitted as required. With term policies, the
premium amount includes the cost of insurance (COI). For permanent or universal policies, the
premium amount consists of the COI and a cash value amount.
 Cash value of permanent or universal life insurance is a component which serves two purposes.
It is a savings account, which can be used by the policyholder, during the life of the insured,
with cash accumulated on a tax-deferred basis. Some policies may have restrictions on
withdrawals depending on the use of the money withdrawn. The second purpose of the cash
value is to offset the rising cost or to provide insurance as the insured ages.

lOMoARcPSD|44141238
6.3 - Types of Life Insurance
6.3.1 – Term Insurance

Term insurance is a type of life insurance policy that provides coverage for a certain period of time,
or a specified "term" of years. If the insured dies during the time period specified in the policy and
the policy is active - or in force - then a death benefit will be paid.
Term insurance is initially much less expensive when compared to permanent life insurance. Unlike
most types of permanent insurance, term insurance has no cash value. There are many different
types of term insurance policies available. Many policies offer level premiums for the duration of
the policy, such as 10, 20, or 30 years. These are often referred to as "level term" policies. While
premiums for these level term policies remain level for a set number of years, after this time period
the premium increases significantly, making the policy cost prohibitive. Most term policies have a
built-in privilege to convert to a permanent policy regardless of any changes in the insured's health.
Term insurance has two features that make it attractive:
a) A guarantee on the premium and survivor benefit for a defined amount of years, depending on
the company, age of the insured and other factors.
b) No capability of accumulating cash inside the policy. You can't pay an extra premium to get
extra benefit. You can’t transfer money from other accounts into the policy. The carrier will not
pay dividends or apply interest to your account.

lOMoARcPSD|44141238

lOMoARcPSD|44141238
6.3.2Whole Life Insurance
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes
called "straight life" or "ordinary life," is a life insurance policy which is guaranteed to remain in
force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date.
As a life insurance policy it represents a contract between the insured and insurer that as long as
the contract terms are met, the insurer will pay the death benefit of the policy to the policy's
beneficiaries when the insured dies. Because whole life policies are guaranteed to remain in force
as long as the required premiums are paid, the premiums are typically much higher than those of
term life insurance where the premium is fixed only for a limited term. Whole life premiums are
fixed, based on the age of issue, and usually do not increase with age. The insured party normally
pays premiums until death, except for limited pay policies which may be paid up in 10 years, 20
years, or at age 65. Whole life insurance belongs to the cash value category of life insurance, which
also includes universal life, variable life, and endowment policies.
Individuals may find whole life attractive because it offers coverage for an indeterminate length
of time. It is the dominant choice for insuring so-called "permanent" insurance needs, including:
a) Funeral expenses
b) Estate planning
c) Surviving spouse income
d) Supplemental retirement income.
Individuals may find whole life less attractive, due to the relatively high premiums, for insuring:

lOMoARcPSD|44141238
a) Large debts
b) Temporary needs, such as children's dependency years,

c) Young families with large needs and limited income.
6.3.3 Endowment Policy
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term
(on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age
limit. Some policies also pay out in the case of critical illness.
Policies are typically traditional with-profits or unit-linked (including those with unitised with
profits funds the holder then receives the surrender value which is determined by the insurance
company depending on how long the policy has been running and how much has been paid into it.
Pension insurance provides many benefits. They can be used as a low-risk way to save.
Policyholders can choose how much to pay each month and how long they want to stay, usually
for 10 or 20 years.
Benefits of Endowment Plans :
1) Dual Benefit : Endowment Plans offer the dual benefit of Long Term Investment and
Insurance. Apart from paying the sum assured to the beneficiary in case of the policy holder’s
demise, endowment plans also pay a lump sum maturity amount is the policy holder survives
the policy tenure.
2) Safe : Even though the returns on endowment plans may be lower, they are risk free in terms
of the sum assured.

lOMoARcPSD|44141238
3) Disciplined Savings : Policy holders need to set aside a pre-determined amount towards the
premium payment at a stipulated time interval, thus encouraging a disciplined approach to
saving.
4) Assured bonus : Endowment plans declare an annual bonus, typically paid out as a specific
percentage of the sum assured. In case of policy holder’s survival, additional bonuses accrued
during the policy are paid in addition to the sum assured
5) Compounding returns : A key advantage of endowment plans is that they fetch returns on a
compounding basis during a policy term
6) High Liquidity : Endowment Policies are liquid in nature.
6.3.4Money Back Policy
Money back plans protect your family’s financial interests from circumstances such as death or
critical illness of the policy holder. Periodic Payouts create wealth for meeting financial
commitments at key stages in life. Money Back plans offer true amalgamation of Insurance and
Investment. Secure your family financially.

lOMoARcPSD|44141238
Money back plans are one of the most popular life insurance plans in India. Under these plans,
policy holders receive a frequent payouts as the death benefit, in case the policy holder survices.
These packages include both insurance and investment plans. A money back plan is ideal for
people who want a guaranteed return on their investments and are looking for regular payouts at
the same time in additionn to an insurance cover for themselves for the same money they are
putting as a premium. Unline a standard life insurance policy that only pays an amount after the
maturity of the policy, the money back plan starts to pay an amount that is called a ‘survival benefit’
over the lifetime of the policy. This survival benefit is given after a few years from the start of
money back plan and continues until the maturity of the money back policy. The survival benefit
is basically the reward from the company to the insured individual for surviving. The benefit is
only paid if the insured is alive.
Money Back Policy Benefits :
a) Low Risk Exposure : Money Back policy plans are insurance cum return products, hence
they don’t entail high risk.
b) Regular Source of Income : Money Back policy provides frequent payouts during the
policy terms. This is known as Survival Benefits.
c) Insurance Coverage : Money Back Policy offers insurance coverage, thus providing
financial security to your family members to meet their obligations after your demise.
d) Assured Return on Investment : Money back plans offer an assured return on the invested
amount. Therefore, you need not worry about losing out on your investment.

lOMoARcPSD|44141238
6.3.5 – Unit linked Insurance Plans
ULIP or Unit Linked Insurance Plan is a mix of insurance along with investment. From a ULIP, the
goal is to provide wealth crea on along with life cover where the insurance company puts a
por on of your investment towards life insurance and rest into a fund that is based on equity or
debt or both and matches with your long-term goals. These goals could be re rement planning,
children’s educa on or another important event you may wish to save for.
When you make an investment in ULIP, the insurance company invests part of the premium in
shares/bonds etc., and the balance amount is u lized in providing an insurance cover. There are
fund managers in the insurance companies who manage the investments and therefore the
investor is spared the hassle of tracking the investments. ULIPS allow you to switch your por olio
between debt and equity based on your risk appe te as well as your knowledge of the market’s
performance. Benefits like these which offer investors the flexibility of switching is a huge factor
contribu ng to the popularity of these investment instruments.
Benefits of ULIP :
a) Life cover: First and foremost, with ULIPs you get a life cover coupled with investment. It offers
security that a taxpayer’s family can fall back on in case of emergencies like the un mely death
of the taxpayer, etc.
b) Income tax benefits: Not many are aware that the premium paid towards a ULIP is eligible for
a tax deduc on under Sec on 80C. Addi onally, the returns out of the policy on maturity are
exempt from income tax under Sec on 10(10D) of the Income-tax Act.
c) Finance Long Term Goals: If you have long-term goals like buying a house, a new car, marriage,
etc., then ULIP is a good investment op on because the money gets compounded. As a result,
the net returns are generally more.

lOMoARcPSD|44141238
d) The flexibility of a por olio switch: As already men oned, ULIPS are usually designed in a way
that they allow you to switch your por olio between debt and equity based on your risk
appe te as well as your knowledge of how the market is performing.
6.4 – Consolidated benefits and information of Life Insurance Plans
Term Insurance - It is the most basic type of insurance.

- It covers you for a specific period.
- Your family gets a lump-sum amount in the case of your
death. - If, however, you survive the term, no money will be paid to
you or your family.
Whole Life - It covers you for a lifetime.

Insurance - Your family receives a certain sum of money after your
death.
- They will also be entitled to a bonus that often accrues on
such amount.
Endowment Policy - Like a term policy, it is also valid for a certain period. - A
lump-sum amount will be paid to your family in the event of your
death.
- Unlike a term plan, you get the maturity proceeds after the
term period.

lOMoARcPSD|44141238
Money-back Policy - A certain percentage of the sum assured will be paid to you
periodically throughout the term as survival benefit.
- After the expiry of the term, you get the balance amount as
maturity proceeds.
- Your family gets the entire sum assured in case of death
during the policy period. This is regardless of the survival benefit
payments made.
Unit-linked - Such products double up as investment tools.

Insurance - A part of your premium goes towards your insurance cover.
Plans (ULIPs) - The remaining amount is invested in Debt and Equity. - A
lump-sum amount will be paid to your family in the event of your
death.

lOMoARcPSD|44141238
CHAPTER 7 : NEED FOR THE STUDY AND LITERATURE REVIEW
Life Insurance is one of the most important and crucial product within Financial Products. Human
life is a most important asset and life insurance is the most important type of insurance which
provides financial protection to a person and his family at the time of uncertain risks or damage.
The motive of Life Insurance Policies is that it provides Safety and also Protection to its users and
also provides them a platform to encourage for Savings. Life is precious and so is Life Insurance.
With a huge population in India, Insurance companies find India as one of the most potential
market for selling Life Insurance. Customers are the main pillars for Life Insurance Business.
Every company tries to attract and retain existing customers to keep their profits high. The proper
understanding of customers, their needs and expectations help insurance providers to bring
improvement in product as well as services offered. In India, however, there is not much of
achievement for Life Insurance companies. The reasons are many, viz., low consumer awareness,
poor affordability, delayed customer services, lack of suitable products, etc.

lOMoARcPSD|44141238
7.1 Literature Review
Athma. P and Kumar. R (2007) in the research paper titled “an explorative study of life insurance
purchase decision making: influence of product and non-product factors". The empirical based
study conducted on 200 sample size comprising of both rural and urban market. The various
product and non-product related factors have been identified and their impact on life insurance
purchase decision-making has been analyzed.
Girish Kumar and Eldhose (2008), published in insurance chronicle icfai monthly magazine august
2008 in their paper titled "customer perception on life insurance services: a comparative study of
public and private sectors", well explained the importance of quality services and its significance
in raising customer satisfaction level. A comparative study of public and private sectors help in
understanding the customer perception, satisfaction and awareness on various life insurance
services.

lOMoARcPSD|44141238
CHAPTER 8 : DATA ANALYSIS

lOMoARcPSD|44141238
CHAPTER 9 : RESEARCH METHODOLOGY
The present study is an exploratory and descriptive type of research study. The study aims to find
out the factors influencing customers life insurance investment decision and their preferences at
the time of policy buying decision. The respondents were majorly from the Pune District. In order
to conduct the study, a total of 151 population were taken for survey.
SOURCES OF DATA & DATA COLLECTION
The data for the study has been collected from both primary and secondary sources. The primary
data has been collected through Google Forms and Surveys. Various interviews were conducted in
order to collect the data. Customer Interaction and telephonic conversations helped to understand
various factors and problems of the customer which were mentioned in the study. The secondary
data has been collected from IRDA annual reports, insurance journals, magazines and insurance
website.
STATISTICAL TOOLS AND TECHNIQUES
For measuring various phenomena and analyzing the collected data effectively and efficiently to
draw sound conclusions, a number of statistical techniques including chi-square, correlation,
weighted average score have been used for the testing of hypotheses. SPSS and Microsoft Excel
has been used for the purpose of analysis.

lOMoARcPSD|44141238
CHAPTER 10 : FINDINGS FROM THE STUDY
1. From the Study, it can be found that the customer decision to buy a Life Insurance Policy
majorly depends on demographic factors like the Age, Gender and Income Level.
2. Majority of the respondents from the age group of 31 to 40 years are found to be interested in
buying a Life Insurance Policy.
3. From amongst 151 respondents, 85 people have shown preference towards buying a Life
Insurance policy from LIC followed by Max Life Insurance amongst the private players. There
were being followed by SBI Life, HDFC and ICICI and lastly Bajaj Allianz.
4. The features that a policy holder may consider can be ranked as 1 st = Money Back Guarantee,
2nd = Larger Risk Coverance, 3rd = Low Premium and 4th = Company’s Reputation. Thus we
can infer that the Money Back Guarantee feature lies amongst the first feature a consumer
may prefer while investing in a Life Insurance Policy.
5. From the study it was also found out that majority of the policy holders owned the Money
Back Policy of LIC followed by ULIP Plans of private insurers. The Term Plan and
Endowment plans are still existing but has a lower popularity as compared to Money Back
and ULIP plans. Thus we can say that in present days people are more interested in policies
which give high returns along with risk coverage benefits.
6. The study also shows highest share in the market is still owned by LIC. And amongst the
private sectors, SBI Life, HDFC and ICICI are leading because of high returns assured by
them. People chose LIC because of the safety issues inn term of their investments.
7. Majority of the respondents look for a trusted name in the Insurance Company followed by
Good Plans, Friendly service and response and accessibility in the last.

lOMoARcPSD|44141238
CHAPTER 11 : RECOMMENDATIONS
1. In today’s competitive world, it is very important to satisfy the customer. It is one of the most
important aspect to retain the customers. Having customer retention helps a company to survive
in the market. Today, private insurers are hitting the market extensively and thus through their
best services and plans possible, they can reposition and differentiate themselves from LIC.
2. As the study said, the customers look up for a trusted name, thus, like LIC, Private insurers
should also emphasis more on building brand awareness. From the survey, it was found that
31.13% of the respondents were not even aware of various Life Insurance Policies. Thus, private
insurers can use different modes of communication of reaching to people in order to spread
insurance awareness amongst the people.
3. If both the Private as well as Government Sector work together in order to spread awareness
amongst the people, it would be beneficial for both the sectors. To achieve greater insurance
penetration, healthier competition has to be intensified by both the sectors and they should come
up with new innovative products to offer greater variety or choice to the customers and also
make improvement in the quality of services and sell products through appropriate distribution
channel to win-win situation for both the parties.
4. Even today, there are many people who do not consider Life insurance policy as a source of
Investment. Thus, insurance companies should come up with plans with high risk coverage and
also focus on encouraging the customers in doing a long term investment. This will help in more
awareness as well as Investment in Life Insurance.
5. If insurance companies come up with products which can give high risk cover, with lesser
premium and more returns and more such innovative ideas, it would be helpful for the insurance
companies to attract more customers.

lOMoARcPSD|44141238
CHAPTER 12 : CONCLUSION
Life Insurance is an important form of insurance and essential for every individual. Life insurance
penetration in India is very low as compared to developed nations where almost all the lives are
covered. Customers are the real pillar of the success of life insurance business and thus it’s
important for insurers to keep their policyholders satisfied and retained as long as possible and also
get new business out of it by offering need based innovative products. There are many factors
which affect customers investment decision in life insurance and from the study it has been
concluded that demographic factors of the people play a major and pivotal role in deciding the
purchase of life insurance policies.
Life Insurance Companies thus should keep an eye on all these factors while designing or
promoting any life insurance policy as this would help them keep their customers satisfied and
would also help them in Customer Retention.
Life Insurance is growing with its various products like the Money Back and ULIP plans which
many of the customers are still unaware and thus a proper knowledge regarding the same can be
helpful to the customers to choose and invest in Life Insurance Policies.
Human life is not just unique but is also precious and needs to be secured as there are many
dependents on one human after the death. Thus, one needs to make sure that he/she secures their
lives by taking one or the other Insurance Policies.

lOMoARcPSD|44141238
KEY LEARNINGS AND ACHIEVEMENTS IN SIP

Key Learnings :
i. Time Management & Punctuality.

ii. Being more Organized.
iii. Cross-selling of Products.
iv. Effective Communication Skills.
v. Enhanced Microsoft Excel and PowerPoint Presentation Skills.
vi. Understanding of Financial Products like Loans, Insurances, Investments.
vii. Learning of Application Review System (ARS) of Zielhoch.
viii. Studying and Verifying Documents related to Loans.
ix. Goal Setting from Mr. Sanjay Kad.
x. Positive Attitude and its Importance from Mr. Prashant Ambulgekar. xi.
Challenges and Journey of Director of Forbes Marshall, Mr. Kiran Vohra.
xii. Mutual Funds session with Mr. Ketan Mare from Sundaram Finance. xiii.
Financial Planning.
xiv. Portfolio Management.

lOMoARcPSD|44141238
Major Achievements :
a. Star Performer for the Month of April 2019.

b. Best Presentation for the Month of March 2019.
c. 6 Disbursements throughout the Internship.
d. Appeared in a YouTube advertising Campaign for Personal Loan Product of Zielhoch Pvt
Ltd.
Extracurricular Activities.
a. Made 7 Corporate PowerPoint Presentations for Zielhoch.

i. Corporate Referral Partners. ii.
Financial Planning Presentation. iii.
Overdraft Credit Line Product.
iv. Zielhoch Presentation
v. Corporate Referral Partner (Version 2)
vi. Zielhoch Credit Policy Presentation.
vii. Zielhoch Referral Partner App Presentation
b. YouTube Advertising.
c. Bandhan Program – The outing to Sinhgad Fort was a team bonding program which helped us
bond well with the Zielhoch Team and within the interns.
d. Parivartan Program – Parivartan helped me boost up my Presentation skills and helped us give
an exposure to how corporate presentations are done.

lOMoARcPSD|44141238
REFERENCES
Athma. P and Kumar. R (2007) in the research paper titled “an explorative study of life insurance
purchase decision making: influence of product and non-product factors". The empirical based
study conducted on 200 sample size comprising of both rural and urban market.
Eldhose.v and kumar. G (2008), “customer perception on life insurance services: a comparative
study of public and private sectors", insurance chronicle ICFAI monthly magazine august 2008.
Media Reports, Press Releases, Press Information Bureau, Union Budget 2017-18, Insurance
Regulatory and Development Authority of India (IRDA).
Rajarajeshwari L, (September 2012), “Non-Banking Financial Companies” consists of a brief

information regarding NBFCs in India.
India Brand Equity Foundation Website (www.ibef.com)

Sip Project Zeiloch

Uploaded by

Document Informationclick to expand document information

Document Informationclick to expand document information

Copyright:

Available Formats

Sip Project Zeiloch

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Sip Project Zeiloch

Uploaded by

Copyright:

Available Formats

lOMoARcPSD|44141238

SIP Project - not much

Master of business administration sem 3 (Marwadi University)

Scan to open on Studocu

Studocu is not sponsored or endorsed by any college or university

SUMMER INTERNSHIP PROJECT REPORT

“A Study On Factors Affecting Customers Preference Towards

Downloaded by Sruthi (sruthivattikota08@gmail.com)

I, undersigned, Abhishek Gaurav the student of Marwadi

Enrolment No. Name Signature

92201823083 ABHISHEK GAURAV

ZIELHOCH PVT LTD ABHISHEK GAURAV 2

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 3

Downloaded by Sruthi (sruthivattikota08@gmail.com)

Signature & Signature & Signature &

Name of Guide Name of Head of Dept. Name of Principal/Dean

ZIELHOCH PVT LTD ABHISHEK GAURAV 4

Downloaded by Sruthi (sruthivattikota08@gmail.com)

Internship is an academic component of the MBA programme that is extremely beneficial in

ZIELHOCH PVT LTD ABHISHEK GAURAV 5

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 6

Downloaded by Sruthi (sruthivattikota08@gmail.com)

3.8 – Partners with Zielhoch

ZIELHOCH PVT LTD ABHISHEK GAURAV 7

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 8

Downloaded by Sruthi (sruthivattikota08@gmail.com)

Prof. Viral Tolia Mr. Chinmay Dev Tiwari

(Faculty Guide) (AHM & Company Guide)

Marwadi University, Rajkot Zielhoch Pvt. Ltd.

ZIELHOCH PVT LTD ABHISHEK GAURAV 9

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 10

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 11

Downloaded by Sruthi (sruthivattikota08@gmail.com)

Name : Abhishek Gaurav

The study named “A STUDY ON FACTORS AFFECTING CUSTOMERS PREFERENCE

ZIELHOCH PVT LTD ABHISHEK GAURAV 12

Downloaded by Sruthi (sruthivattikota08@gmail.com)

ZIELHOCH PVT LTD ABHISHEK GAURAV 13

Downloaded by Sruthi (sruthivattikota08@gmail.com)

CHAPTER 1 : INTRODUCTION TO STUDY

1. Purpose, Objective, Scope and Limitation of the Study

1.1. Purpose of the Study

1.2. Objective of the Study.

ZIELHOCH PVT LTD ABHISHEK GAURAV 14

Downloaded by Sruthi (sruthivattikota08@gmail.com)

a) To study various factors influencing Customer Investment Decision in Life Insurance.

ZIELHOCH PVT LTD ABHISHEK GAURAV 15

Downloaded by Sruthi (sruthivattikota08@gmail.com)

1.3. Scope of the Study

1.4. Limitations of the Study

ZIELHOCH PVT LTD ABHISHEK GAURAV 16

Downloaded by Sruthi (sruthivattikota08@gmail.com)

CHAPTER 2 : INTRODUCTION TO NON-BANKING FINANCIAL