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Marketing of Financial Services
1. Amit bought a Family Floater Health Insurance policy from a leading private General Insurance company through his Bank. His wife Preeti, covered under the policy was hospitalized for 5 days. The insurance company has not yet settled his claim even after 2 months of making all submissions. What steps and strategy should Amit follow to ensure that the insurance company settles his claim?
Introduction
Family Floater Health Insurance policy is a health insurance policy that covers all the members of the family from any monetary loss due to any health problems.
As mentioned in the question, Amit has not received his claim even after his wife was hospitalized for five days and after submitting all the documents for verification. This is a serious issue when an insurance company does not settle any claim after rightfully submitting all the materials in
2. Develop a Public Relations campaign for a Bank of your choice to highlight the “Digital Banking” edge that your Bank offer.
Introduction
HDFC Bank is India’s largest private sector bank in terms of assets and market capitalization. This Bank would be the perfect example to showcase how to develop a public relations campaign for the company in “Digital Banking.”
Digital Banking is the new type of banking where the consumers can do simple Bank related activities through the comfort of their homes, like, opening a fixed deposit, transferring amount
3. You are a Financial Planner. Your client Sumit Raghani aged 37 years and works with an IT company earning Rs 15 lakhs per year. His wife Asha, aged 34 years, is a homemaker. They have one daughter Rimmi aged 5 years. The couple requires your help to make some financial decisions. (You can make any assumptions to further build up your case.)
a. Sumit wants to buy a Pure Risk Life Insurance cover of Rs 1.5 crore. He is confused whether he should buy a ULIP, Endowment or a Term Plan. Recommend the product best suited for his requirement.
Introduction
ULIP (unit-linked insurance plans) is a policy where the policyholder pays a premium monthly or annually as per his/her selected program, and a part of the premium is used to secure his life insurance fund. The rest of the premium is invested as a mutual fund. It is, therefore, a blend of both insurance and investment.
Endowment policies
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