Enhancing the Sales Pitch of ULIPS: A Study of Perception towards ULIP Investments in India

The paper explores perception about ULIP products in Indian markets. It attempts to determine the factors affecting the perception and purchase of ULIP products in order to make suggestions for improved market penetration by ULIP sellers. It finds age, number of dependents in the family and income to be highly correlated with ULIP purchase whereas gender and qualification were not found to be affecting the purchase decision for ULIPs. The study suggests the ULIP providers to position ULIPs as income instruments for people in the mid income bracket. It also recommends for greater innovation in terms of risk mitigating features of the ULIP products and a larger focus on the risk management and risk mitigating features in the sales pitch of ULIP products for the prospective investors.