Questionnaire

For Consumers of Insurance Products

The information collected is intended to be used for pursue academic purposes.
I shall be grateful for your valuable inputs and active co-operation.
Kindly respond to all questions.
You need not disclose your identity
Tick () the appropriate answer where required
1.

Which of these long-term savings you are aware of?

(a) Life Insurance
(b)

Fixed deposit

(c)

Mutual Funds

(d) Securities (Shares and Debentures)

(e)
2.
3.

Post Office Savings

(f) Any other

Have you taken any life insurance policy

Yes

No

If Yes
From which source did you come to know about life insurance?
News Papers and
Radio
Magazines
Television

Direct Sales Executive

Agents/ Field sales

representative
Bank

Friend

Telemarketing
Internet
Direct Mail
If No

199

Others (pl. Specify)

4.

What are the reasons that may have held you back from investing in life insurance
products? (Please rate them on extent of impact)
Very low
Very High
(a)

Lack of awareness

(b)

Returns not lucrative enough

(c)

Promotional measures not attractive

(d)

Not approached by the intermediaries

(e)

Inclination to short term lump sum gain

(f)

Not affordable

(g)

Any other (

5.

If you are holding a life insurance policy, please mention the name of the policy that you
taken and the name of the company?
Name of the Policy

Name of the company :

6.

What prompted you to buy the life insurance policy from the company named by you?
(please rate them on scale of importance)
Very low
Very High
(a) Brand image of the Company

1 2

(b) Excellent past record of performance

1 2

(c)My friend/acquaintances have bought from this company

1 2

(c) Marketing people insisted me to buy

1 2

(d) Impressed the companys Ads and promotion

1 2

(e) Desire to try out a new company

1 2

1 2

(e )Any other (
7.

Are you able to recall any Ad about life insurance in general and / or life insurance
product in particular
Yes

No

8.

If Yes What in the main message that you get from the Ad?

Low

High
(a) Risk coverage

(b) Protection for the family

(c) Long term savings

(d) Tax savings

(e) Provision for old age

(f) Any other (Please Specify )
9.

do you think that advertises (the life insurance company) wants you to know belief or do?

(a) life insurance, a must for family protection

Low
1 2

High
4
5

(b) should go for compulsory long term savings

(c) should express my love for family through life insurance

(d) should have adequate risk coverage

(e) can save tax through life insurance

(f) can have peace and mental satisfaction

(g)should have economic independence and dignity in old age

(h) any other (Please specify )

10

How likely is it that the Ad will influence you to buy a life insurance product? (a)
Ad is only a good source of information to me

Agree

Disagree

(b)Too many Ads by different companies create

confusion

Agree

Disa

(c) The actual product I buy in usually the same as

advertised

Agree

Disa

(d) It in hard to make a buying decision because of all

the products to choose from

Agree

Disa

11.

(e) Ads sometimes make high promises than actually

experienced later on

Agree

Disa

(f) I get promoted to make further enquires about the

idea /product particularly its features and price.

Agree

Disa

(g) The main reason a company comes out with Ads

is to make more sales

Agree

Disa

(h) Advertising tempts people to think seriously about

their ourselves and their family

Agree

Disa

(i) I like to buy products that have well known brand

name

Agree

Disa

(j) It seems wasteful for so many companies to produce Agree

the products with similar features.

Disa

(k) Advertising and promotional costs unnecessarily

raise the price which the consumer has to pay for a
product

Agree

Disa

(l) Even with so much advertising it is difficult to

know which brand is best

Agree

Disa

(m) The wide variety of competing products makes

intelligent buying decisions more difficult

Agree

Disa

(n) Advertising usually present correct and true picture

of the product

Agree

Disa

How do you made your purchase decision for life insurance product?
YES
(a) Consult other people to help choose the best alternative
available from a product class

NO

(b) Try to buy the same brand that my friends/ colleagues

have bought

YES

NO

(c) Consult an Agent / Advisor before making final decision

to buy

YES

NO

(d) Base my decision on the brand value of the company and

the product.

YES

NO

(e) Achieve a sense of belonging by purchasing the same

brands and from the same company that other purchase

YES

NO

12. In selecting form many types and brands of the insurance products available in the market,
would you so that
I would not care at all as to which
1 2 3
4 5 I would care a great deal as to
one by one buy
which
13. How important would it be to you to make a right choice of the brand?
Not at all important
1 2 3
4
5
very much concerned
14. Do you tend to stick to the same brand and remain loyal to a particular insurance company
and its product?
(a) I would rather stick with a brand I usually buy than try
Yes
something I am not sure of

15.

(b) If I like a brand, I really switch from it just to try something

different.

Yes

(c) I got bored with buying the same brands and even if they are
good.

Yes

(d) When I see a new brand some what different from the usual,
I make enquires.

Yes

(e) I rarely read Ads that just seen to contain a lot of

information

Yes

(f) I feel the urge to buy something really different from the
brands I usually buy

Yes

(g) I take chances in buying unfamiliar brands just to get some

Yes
variety in my purchase
While purchasing a life insurance policy of a particular brand would you so that the
commercial / Ads and other promotional campaigns used by the insurance company.
(a) Remind you of the brand

Yes

No

(b) I feel as though I were right there in the commercial expensing the
same thing

Yes

No

(c) I am compare the brand with other competing brands on matters that
are important to me.

Yes

No

(d) This commercial leaves me with a good feeling about using the
brand that I have bought.

Yes

No

16.

Personal data (optional)

i) Sex
ii) Age group
iii) Occupation

Male
18-25 yrs

26-35 yrs

Female
36-45yrs

46-55 yrs

Government /Public sector employee

Pvt. Sector employee
Self employed
Professional (Doctor / Lawyer etc)

Agriculturist
Urban Marginal (wage earners)
NRIs
Media Person
Others (Please Specify )

Above 55

iv) Annual Income

Less than Rs. 3,00,000

Between Rs.3,00,000 to 5,00,000
Between Rs.5,00,000 to 8,00,000
Between Rs.8,00,000 to 10,00,000
Above 10,00,000