DATA ANALYSIS AND INTERPRETATION
DATA DATA ANAL ANA LYSIS YSIS AND INTERPR INTE RPRET ETA ATION TIO N Analysis of data means studying the tabulated material in order to determine inherent facts or meaning. It involves breaking down of complex factors into simple parts and putting the parts together in new arrangement for the purpose of interpretation. It is a careful, logical and critical examination of the result obtained after analysis, keeping in view of the limitations of the sample chosen and tools used for analysis.
1. No of life life poli policy cy hold holders ers
Table No 1.1 OPINION
NUMBERS
!es No Total
"# $$ 100
Interpretation: %a&ority of the respondents have insured their life to avoid the risk in future. 'ut of this less than 1() have adopted the life insurance as a tax saving tool. tool. It is noted that $$) of the respondent respondentss are not insured their their life, due to their lack of awareness
Table No 1.$ *referred Insurance provider NAME OF POLICY
NUMBERS
PERCENTAGE
+ I / I0 3450 6778AN 97:+3A I4I 57479A/ I0I0I A8I8A T703 %A3IN49A TATA A6A6 +TA9 37A/T3 TOTAL
1 1 $ $ 1$ $ $ 1 1 !
1.- (.12 1.2 $.1$ $.1$ .(# 1$." $.1$ $.1$ 1.- 1.- 100
Interpretation: According to the analysis, most of the policy holders preferred /I0 because of trust worthiness and the awareness. /I0 is a
private sector provider and very high as compared to other company because other company have less number of policy holders and market experience is low. +o the awareness about their products in the market is also very less. I0I0I prudential stands in the ; th positi position on among among the private sector provider. provider.
Table No (.( N<%79 '5 IN+<9AN07 *'/I0! '*T74
OPINION
NUMBERS
'N7
"#
%
1 = among the "#>
Interpretation" %ost of the respondent?s expectation is to avoid risk for future in life. +o we choose the opted insurance policy, policy, more than $-) were opted multiple insurance policy and they also have more attracted tax savings.
Table No (.;
TI%7 *79I'4 '5 3'/4IN@ T37 *'/I0! *79I'4 1 !7A9 1- !7A9 111 !7A9 1$- !7A9 T'TA/
POLICY
N<%79+
*7907NTA@7 *7907NTA@7
; $$ ; "#
#.2" $#.$".2 .1( 1--
Interpretation" The time period of holding an insurance policy has been increasing. *eople prefer to have policies for a short term period. Bhere as only .1() of people have policy for long term period.
Table No (. AMOUNT INSURED
A%'
N<%79+
*7907NTA@7
1 /A:3 1- /A:3 111 /A:3 1$- /A:3 $1$ /A:3 T'TA/
1 1 "#
"1."2 $-.1 .;1 1.$# 1--
Interpretation" %ore number of insurance policy holders have invested 1 /akh rupees in insurance. Bhich is almost "1."2) these people have selected low amount of insurance due to the benefits and also they do not prefer invest large amount in insurance premium.
Table No (. EXTRA BENEFIT OBTAINED OBTAINED FROM INSURANCE POLICY
'*INI'N
N<%79+
*7907NTA@7
!7+ N' T'TA/
(" ;1 "#
;".;( $. 1--
Interpretation" 'nly ;".;() of people have obtained additional benefits from insurance policies, Bhile $.) of them have not obtained any benefits. ecause lack of awareness of the insurance policies and other benefits.
Table No (."
97A+'N
FOR CHOOSING LIFE INSURANCE POLICY
'*INI'N
N<%79+
*7907NTA@7
+um assured +cheme are good 9ecommendation from family C friends +ave tax %ultibenefits
11 $1
1;.1".2 $.2$
1(-
1$.#$ (#.;
T'TA/
"#
1--
Interpretation" The insurance policy holders have been choosing insurance policies due to multiple benefits. benefits. Bhich constitute constitute about (#.;) while 1;.1-) of insurance holders prefer to have it because the sum assured or return of the insurance.
Table No (.# OPINION AFTER INVESTING IN LIFE INSURANCE.
'*INI'N
N<%79+
*7907NTA@7
@''4 A879A@7 *oor T'TA/
;; (; "#
.;1 ;(.# 1--
Interpretation" ;(.#) of them have an average opinion after investing in insurance. The general public are to be made more aware of the benefits of investing in insurance.
Table No (.2
IS THE POLICY HOLDER AWARE OF THE INCOME TAX ACT 1961 WHILE OPTING THE LIFE INSURANCE POLICY.
'*INI'N
N<%79+
!7+ N' T'TA/
$# "#
Interpretation" - individuals are aware about the income tax act, 121 while opting for life insurance policy whereas $# respondents of the study are unware of the act.
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