Special Guest lecture and interactive session on “Awareness on savings and Investment with Specific reference to Insurance”

Resource person: Ms Sumitha H R, Appointed by Life Insurance Corporation of India as an Advisor and have a expertise in Administration, HR, Sales, and Marketing over a period of 15 years.Program organized by Department of Business Administration
Date: Thursday 16th March 2023
Time: 10.45AM -11.45AM
Venue: MTA auditorium
No. of participants: 222 students 3 Faculty members

Special Guest lecture and interactive session on “Awareness on savings and Investment with Specific reference to Insurance”was conducted by Department of Business administration with an objective to make MBA Students aware about purpose and importance of savings and investments with specific reference to Insurance.Ms Gwyneth Rebecca, III semMBA student welcomed the Resource person and participants.

The session started with the briefing ofestablishment of Life Insurance Corporation of India and the importance of Insurance Regulatory and Development Authority Act, 1999.Further she emphasized on Insurancecontract and Financial Planning.She highlighted the concepts of Insurer,Insured, Contractual agreements, premiums, products, payment systems via online mode or offline mode. The important products offered such as Insurance plan, pension Plan, Unit linked Plans, Micro insurance Plans, withdrawn plans, Health plans. General Insurance Plan, Marine Insurance, Retirement Plan, Annuity, Children plan, Single life planwas highlighted.She suggested to take insurance early in our life because it gives lower premium and higher the return benefit. She mentioned about the important cycle to be Learner Stage, Earning Stage, Partner Stage, Parent Stage, and Emptiness Stage and the major condition to take the insurance policy to be the people who are in good health only. She emphasized on popular schemefor young girl child to be –“SukanyaSamrudhiYojana” which has a minimum deposit Rs 250/- and maximum deposit Rs 1.5 Lakh in a financial year.

She also gave a brief idea of Managing the financial planning, personal money management, and Impact of digitalization in LIC. Important investment tools like investment in Blue chips companies in the stock market, investment in Gold’s, investment in Commercial Buildings, Investing in Agricultural land as options were highlighted

After the session, the platform was kept open for student’s interaction.Student’s queries were related to future prospects;careers in insurance Industry were addressed.Ms Bhavana, SM, III semester MBA student gave a concluding remark of the session and proposed vote of thanks.