A PROJECT REPORT ON CUSTOMER VIEW TOWARD METLIFE INDIA LIFE INSURANCE

Batch 2009 - 2012

Topic of the Project Marketing strategy of MetLife

Submitted in fulfillment of Year III of BBA From

PGRRCDE Osmania University, Hyderabad

SUBMITTED TO: Mr./Ms.__________________ (PROJECT GUIDE) Mr./Ms.__________________ _____________ (INDUSTRY GUIDE) ENROLL NO. SUBMITTED BY: (Name of Student)

INTRODUCTION :
MetLife, Inc. Is The Holding Corporation For The Metropolitan Life Insurance Company, Or Metlife, For Short, And Its Affiliates. Metlife Is Among The Largest Global Providers Of Insurance, Annuities, And Employee Benefit Programs, With 90 Million Customers In Over 60 Countries. The Firm Was Founded On March 24, 1868. On January 6, 1915, Metlife Completed The Mutualization Process, Changing From A Stock Life Insurance Company Owned By Individuals To A Mutual Company Operating Without External Shareholders And For The Benefit Of Policyholders. The Company Went Public In 2000. Through Its Subsidiaries and Affiliates, Metlife Holds Leading Market Positions in the United States, Japan, Latin America, and Asias Pacific Region, Europe, And the Middle East. Metlife Is The Largest Life Insurer In The United States And Serves 90 Of The Largest Fortune 500 Companies.

MetLife India Insurance Company Limited:

MetLife India Insurance Company Limited (MetLife) is an associate of MetLife, Inc. and was established as a joint venture between MetLife International Holdings, Inc., the Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors. MetLife is one of the quickest growing life insurance companies in India. It attends its customers by extending a range of modern products to different individuals and group customers, with services spread across more than 600 locations via the banking partners and company-owned offices. Currently, MetLife has in its kitty over 50,000 Financial Advisors- who help the customers get the right product across the length and breadth of the country. MetLife, Inc., through its associates, extends its services to more than 70 million customers in the Americas, Asia Pacific and Europe.

Services offered by the MetLife companies:

Life insurance Annuities Automobile and home insurance Retail banking Other financial services to individuals Group insurance Reinsurance Retirement and savings products and services

Products and Services:

Insurance Products Accounted For 53% Of MetLifes 2009 $49 Billion of Revenue. MetLife Is the Largest Life Insurer in the United States and Mexico and Is the Second-Largest Foreign Provider of Insurance in Japan and Worldwide Its Customers Total 90 Million Individuals

Life Insurance:
MetLifes Individual Life Insurance Products And Services Comprise Term Life Insurance And Several Types Of Permanent Life Insurance, Including Whole Life, Universal Life And Variable Universal Life. The Company Also Offers Group Life Insurance, Provided Through Employers, Which Consists Of Term Life, Group Variable Universal Life And Group Universal Life. Metlife Is the Largest Life Insurer in the United States, Based On Life Insurance In-Force

Metlife plans
Child Plan:

Met Bhavishya Met Junior Endowment Met Junior Money back

Retirement Met pension par

Savings

Met Sukh Met Suvidha Met Saral Met 100

Protection

Met Suraksha Met Suraksha TROP Met Suraksha Plus Met Mortgage Protector Plus

Rural:
Met Vishwas Met Suvidha Rural Met Grameen Ashray

Investment:

Met Smart Platinum Met Smart One Met Easy Super

Health:

Met Health Care Met Health Cash

Monthly Income

Met Monthly Income Plan Met Monthly Income Plan 7 Pay Met Monthly Income Plan 15 Pay

Child Plan:
MetLife Offers 'Met Bhavishya' - A Guaranteed Money Back Plan That Pays Out Funds To Help You Meet The Education And Career Milestones Of Your Children. With This Plan, The Life Insured Is That Of The Parent. The Plan Also Has Inbuilt Guaranteed Additions To Add Value To The Policy Over Its Term. There Are Two Options To Choose From And Fixed Term Benefits, Periodic Additions & Terminal Additions Are Payable Based On The Option That You Select. The Policy Is Suitable For Parents with Children between the Ages 0-12 And Parents In The Age Group Of 20-50 Years Old

MetLife Offers 'Met Junior' - A Flexible Endowment Plan That Combines Savings

And Security. Your Children's Well-Being Is Your Highest Priority. So We Offer A Plan Which Offers Both Timely And Efficient "Return On Investment". All With A Guarantee.

Retirement:

Met Pension (Par) Serves As A Friendly Helping Hand So You Can Stay Financially Independent Even After Retirement. It Helps You Build Up A Fund For Your Golden Years.

With This Plan, You Can Ensure You Enjoy Retirement As A Happy New Chapter.

Savings:

What Is Life Without A Dream? Be It That Grand Wedding For Your Children, A House Or A Car. Metlife Savings Plans Help You Realize Your Dreams And Protect You And Your Loved Ones From Lifes Uncertainties. Keep Your Savings Growing And Ensure Complete Peace Of Mind. What Is Life Without A Dream? Be It That Grand Wedding For Your Children, A House Or A Car. Metlife Savings Plans Help You Realize Your Dreams And Protect You And Your Loved Ones From Lifes Uncertainties. Keep Your Savings Growing And Ensure Complete Peace Of Mind.

Protection:

MetLife Offers Met Suraksha - Term Assurance (Ta), A Non Participating Term Assurance Plan Which Provides You Life Cover At A Nominal Cost. To Put It Simply, It Is A Life Insurance Plan That Gives You Complete Protection To Enjoy Life To The Fullest. You Can Further Customize Your Plan With Two Riders Accidental Death Benefit And Critical Illness

Metlife Offers Met Suraksha - Term With Return Of Premium (Trop), A Non Participating Term Assurance Plan Which Provides You Life Cover At A Nominal Cost. To Put It Simply, It Is A Life Insurance Plan That Gives You Complete Protection To Enjoy Life To The Fullest. You Can Further Customize Your Plan With Two Riders Accidental Death Benefit And Critical Illness

Rural:

MetLife offers 'Met Vishwas', - a single premium, micro insurance, nonparticipating term assurance plan which provides you life cover at a nominal cost. On survival, you get 110% or 125% of the premium. Met Suvidha (Rural) is a participating flexible Endowment Plan that combines savings and security. In addition to providing you protection up to maturity, it helps you save for your specific long term financial objectives. This long term savings-cum-protection plan comes to you at affordable premiums.

Investment:

"IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER" You have always wanted the best for yourself in life. Not surprisingly, your wealth creation & protection needs, which keep changing with your Lifestage, also deserve the best. Keeping this in mind, MetLife is proud to present Met Smart Platinum, a Unit-Linked Plan which can be customized to match your ever changing financial needs! This whole life plan offers you the flexibility of short premium payment commitments along with a multitude of other benefits including the unique Auto Rebalancing Portfolio Strategy

"IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER" You work hard to fulfill your family

dreams and wish everything that is best for them, whether it is your children's education or your child marriage or buying your dream house. We at MetLife understand that your hard earned money should work equally harder for you. Hence we bring to you Met Smart One, which is investment cum protection single premium plan which along with its various investment management options facilitates accelerated wealth creation with Loyalty additions. With this plan you may also choose NAV Guarantee Fund which offers you attractive guaranteed Net Asset Value (NAV).

Health:

Health problems strike unexpectedly. In addition to causing ill health, it can also scar your financial health. You need to protect yourself against such a situation through a health insurance plan. In order to ensure you are well protected to face any health condition that could befall you, MetLife presents - Met Health Care, a simple health insurance policy with unique and smart advantages for you and your family. Family means spouse and two children. Every additional family member shall be underwritten as per the underwriting conditions laid by the Company from time to time.

What is Met Health Care?

Met Health Care is a long term health insurance plan from MetLife. This plan covers you 1. Against Hospitalization expenses by providing you a Daily Cash benefit as chosen by you. 2. Against 10 major Critical Illnesses by providing you a lump sum benefit. 3. Against Total & Permanent Disability due to accident by providing you a lump sum benefit. Further, all the above benefits can be availed without the hassle of undergoing any medical examination. Just fill up the simple application form and start enjoying the unmatched benefits of Met Health Care The only thing certain about life is its uncertainty!! More so in todays day & age. This uncertainty, coupled with constant anxiety and pressure could affect your health. As such, you can never be sure when a health condition may come calling on you.

To ensure you are well protected to face any health condition that could befall you, MetLife presents - Met Health Cash, a simple health insurance policy with unique and smart advantages for you and your family. Family means spouse and up to 4 children. Every additional family member shall be underwritten as per the underwriting conditions laid by the Company from time to time.

What is Met Health Cash?

Met Health Cash is a health insurance plan from MetLife. The plan covers you against hospitalization expenses by providing you a

Fixed Daily Hospitalization Cash Benefit (Fixed DHCB) as chosen by you. You can choose your desired plan by choosing either 10 or 15 or 20 days of Fixed DHCB in a year and you can also choose a Fixed DHCB amount of Rs.1,000 to Rs.6,000 (in multiples of Rs.1,000) Whats more!! Met Health Cash assures you coverage till the age of 75*. It not only provides coverage to you and your family#, additionally, every additional member after the primary insured gets a 10% discount on their respective premium. Furthermore, all the above benefits can be availed without the hassle of undergoing any medical examination. Just fill up the simple application form and start enjoying the unmatched benefits offered by this smart health plan from MetLife.

Monthly Income:

MetLife offers 'Met Monthly Income Plan' a participating plan which guarantees you

a monthly regular income for you and your family when you are there and even if you are not there for 15 years or till end of the policy term. Moreover you choose the monthly income that you want and we guarantee you that amount. A plan which provides for your retirement needs and helps you achieve financial freedom - 'Guaranteed'

MetLife offers 'Met Monthly Income Plan7 Pay' where you are required to pay premium only for 7 years and get back the Guaranteed Monthly Income that you choose at inception for 8 years. At the end of the term you will also get the accrued bonuses as a lump sum.

A Monthly Income Plan that guarantees income to add to your income every month. Because these days growing needs demand more than one income.

MY FIRST DAY AT MET LIFE:

Its 22nd June 2011 on Friday that I just gone to Met Life. My mentor is Mr. Bilal Alam under whom I got the way to behave and to express my self in front of Corporate World. As, its my first day and the nervousness is more with me. So, I thought to sit at the back and stay away from my mentor in the training session. But, I was wrong and he noticed that I was nervous. He personally called me and told me about his experiences. He also told that first time he was also nervous. It was the thing that forced me to kick off my fear about, The Corporate World and People.

TARGET ACHIVED BY ME:

AS,I got a target of minimum a policy in a week . And ,I just failed to achieve the target due to my nervousness but ,in second week I got two policies that was of my younger cousins . That was met bhavisya plan . As this is the plan that delivers the assurance for a better future of a child even the presence of guardians or in their absence(Death).
FINDINGS: Insurance companies are booming itself at a very high rate.

Met life Insurance pvt.ltd. being a new company in India has placed a very firm position in the field of insurance company. The P-CMM is a very fresh but very integral part of any organization these days. It describes an organizations capability for developing its workforce at each maturity level. It is used for assessing workforce practices and as a guide in planning and implementing improvement activities. It is a living document shaped by the needs of organizations rapidly evolving workplaces.

CONCLUSION:

Our exhaustive research in the field of Life Insurance threw up some interesting trends whichc a n be s e e n . A ge ne r a l im pr e s s io n th a t w e ga th e r e d w a s t he i mm e ns e a w a re ne s s a n d knowledge among people about various

companies and their insurance products. People are beginning to look beyond LIC for their insurance needs and are willing to trust private players with their hard earned money. People in general have been impression by the marketing and advertising campaigns of insurance companies. A high penetration of print, radio and Television ad campaigns over theyears is beginning to have its impact now. Another heartening trend was in terms of people viewing insurance as a tax saving and investment instrument as much as a protective one. A very high number of respondents have opted for insurance for such purposes and it shows how insurance companies have been successful to attract public money in recent times. The general satisfaction levels among public with regards to policy and agents still requires improvement. But therein lays

the opportunity for a relative new comer like MetLife.

TARGET ACHIVED BY ME: AS,I got a target of minimum a policy in a week . And ,I just failed to achieve the target due to my nervousness but ,in second week I got two policies that was of my younger cosines . That was met bhavisya plan .

As this is the plan that delivers the assurance for a better future of a child even the presence of guardians or in their absence(Death). TARGET ACHIVE BY ME: Firstly I got a policy(Met Shukh) of my friends grand mother . As the policy provides a risk cover till the age of 99years. The policy is for old people that also give them a regular income for their future needs. The policy is very good in all norms,also it helps our old ones to live hasslefree life .