NJI Life Insurance Company Segmentation Plans Target Market.

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Presentation transcript:

NJI Life Insurance Company Segmentation Plans Target Market

Segmentation Company has three segment Individual Life Conventional Business Accidental and Health

Segmentation` Individual life –Individual Life segment provides life insurance coverage to individual under unit based policies issued by company. For example –Life plan –Secure investment plan –Secure sarmya plan –Poonji plan and so on

Segmentation` Conventional Business –Conventional Business segment includes individual Life and Group Life. The group Life business segment provides life insurance coverage to member of business enterprises, cooperate entities in common interest group life insurance under group life insurance issued by company.

Segmentation` Accidental and Health: –Accidental And Health business segment provides personal accident coverage to individual. For example –Secure personal accident.

NJI life Plans: Two types of plans –Endowment plan Unit rate is fix – Whole life Plan Unit rate is not fix.

NJI plans Sum assured: –Sum assured is the money which is paid at the end of the plan. premium Charges: –Mortality Charges. –Service charges: –Extra Mortality Charges:

NJI Life Plans 1: Secure investment Plan 2: Secure sarmya plan 3: SECURE LIFE Plan 4: Poonji Plan 5: Zaamin saving plan 6: Secure personal accident

NJI life Plans Secure investment plan: The idea of planning for your financial future seem too complex or confusing Reasons to buy the Secure Investment Plan: –High Growth Potential – Professional Investment Management –Tax Advantage

NJI life Plans Access to you Investment Account –If your circumstances change, you may have a need for cash before the end of the maturity period of your savings. Secure Investment Plan gives you the facility to get immediate access to your accumulated Investment Account. Investment with a Safety Net: –As soon as you start saving with NJI Life’s Secure Investment Plan you will enjoy a guaranteed level of life assurance as well. This means that in the event of an untimely death your dependants will receive the sum assured

NJI life Plans Premium Allocation: –The Secure Investment Plan is a unit linked plan whereby the value of the units may increase or decrease. After deduction of minimal charges a basic premium is allocated to the account.

Target Market The target market of the nji life is the people having age between 18 to 60 years. It depends: –Health –Affordability –Worth

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