20704637 report on ulip

8/13/2019 20704637 Report on Ulip

http://slidepdf.com/reader/full/20704637-report-on-ulip 1/123

A PROJECT REPORT

ON

“INCLINATION TOWARDS ULIP”

(A STUDY ON SECURITY AND INVESTMENT PLAN)

Submitted To

Kurukshetra U!"ers!t#$ Kurukshetra

I %art!a& 'u&'!&&et ' the re*u!reet 'r the +e,ree '

MASTER O- .USINESS ADMINISTRATION (M.A)(Sess! /0012/003)

Internal guide Submitted By

Mrs. Shiwani Gupta SANDEEP ARORAMBA Dep’t. MBA IIIrd semMMIM, MULLANA Am!a"a# R$"" N$.

M.M. Institute of ManagementMullana (Ambala)

A%%r"e+ 4# AICTE a+ A''!&!ate+ t KURUKS5ETRA

UNIVERSITY$ KURUKS5ETRA

CONTENTS O- T5E PRO6ECT

PA7E

NO8

%

8/13/2019 20704637 Report on Ulip


Pre'a9e

Cert!'!9ate 'r the Or,a!:at!

A9k;&e+,eet

De9&arat!

Itr+u9t!

O4<e9t!"es = eth+&,#

I+ustr# %r'!&e

C%a# %r'!&e

T%!9 take ! the Or,a!:at!

IN&LINA'ION 'O(ARDS ULIP

A Stud) $n se*urit) and in+estment p"an#

8/13/2019 20704637 Report on Ulip


-!+!,s

Re9e+at!

C9&us! >suar#

.!4&!,ra%h#

Ae?ure

-

8/13/2019 20704637 Report on Ulip


PRE-ACE

Beinnin $/ the s)stem pr$0e*t is entire") *reati+e. 'his d$es n$t *$me

a"" $/ a sudden, !ut it *$mes !) resu"t $/ dis*ussi$n, *$nsu"tati$n and

*$ntemp"ati$n. Pr$!"em uns$"+ed here *an ne+er !e satis/a*t$r)

e"iminated "ater. It is there/$re a s"$w pr$*ess.

M$re$+er pra*ti*a" trainin is an imp$rtant part $/ manaement

*$urses. 'he the$reti*a" studies are n$t su//i*ient t$ et int$ the *$rp$rate

w$r"d. On") pra*ti*a" 1n$w"ede *an he"p us t$ understand the

*$mp"e2ities $/ "are s*a"e $rani3ati$ns.

'$ de+e"$p hea"th) manaeria" and administrati$n s1i"" in p$tentia"

manaers, it is ne*essar) that the$reti*a" 1n$w"ede must !e

supp"emented with e2p$sure t$ the rea" en+ir$nment. A*tua""), it is "i/e

/$r, a manaement itse"/ is rea"i3ed.

In m) *ase I *$n/r$nted m)se"/ t$ I&I&I prudentia" Li/e insuran*e

*$mpan) Ltd. And the e2p$sure that I *$u"d n$t ha+e ained /r$m the

!$$1s. I /$und it +er) interestin and *ha""enin. I did m) trainin at

7UR7AON !ran*h $//i*e and m) t$pi* $/ pr$0e*t is INCLINATION

TOWARDS ULIP se9ur!t# a+ I"estet s&ut! ;!th s%e9!a&

re'ere9e t ICICIPRUDENTIAL LI-E INSURANCE8

4

8/13/2019 20704637 Report on Ulip


ACKNOWLED7EMENT

5eart/e"t than1s t$ the /$""$win pe$p"e6.

A 7ew t)pewritten w$rds $/ than1s *an8n$t rea"") e2press the

sin*erit) $/ m) ratitude. But I am sti"" tr)in t$ put int$ w$rds m)

rate/u"ness t$wards a"" wh$ ha+e he"ped 9 en*$uraed me in *arr)in

$ut this pr$0e*t.

I w$u"d "i1e t$ than1 Dr8 SAN6EEV MARWA5(D!re9tr$MMIM) t$ i+e me uide"ines and m) w$rth) than1s t$ m)

tea*her Mr8K878C5OU.EY('a9u&t# e4er) /$r their +a"ua!"e

*$ntri!uti$n durin the a*ademi* sessi$n and uidan*e in preparati$n $/

this pr$0e*t rep$rt.

'his rep$rt *$n+e)s m) heartiest than1s t$ Mr8 KAPIL

C5AWLA, Aen*) Manaer $/:ICICI PRUDENTIALS LI-E

;

8/13/2019 20704637 Report on Ulip


INSURANCE CO8 LTD.< /$r i+in me this pr$0e*t 9 he"pin me in

*$mp"eti$n $/ this pr$0e*t. N$ praise is amp"e /$r the ne+er tirin e//$rts

$/ m) *$""eaues wh$se *$nstant supp$rt /eed!a*1, uidan*e 9 pra*ti*a"

suesti$ns he"ped me in *$mp"etin this Pr$0e*t su**ess/u"").

DECLARATION

I here!) de*"are that the pr$0e*t : INCLINATION TOWARDS

ULIP (A Stu+# se9ur!t# a+ !"estet %&a)< /$r ICICI

PRUDENTIAL LI-EINSURANCE is $riina" and !$na/ied w$r1 d$ne !)

me.

=

8/13/2019 20704637 Report on Ulip


'he pr$0e*t is !ein su!mitted in partia" /u"/i""ment re>uirements /$r the

award deree $/ Master $/ Business Administrati$n, Kurukshetra U!"ers!t#

'he *$ntents $/ this pr$0e*t are !ased $n the /ie"d w$r1 and ana")sis

d$ne !) me durin m) tenure at ICICI Pru+et!a&$ 7ur,a

IS5A LUT5RA

?

8/13/2019 20704637 Report on Ulip


C5APTER @

INTRODUCTION

@

8/13/2019 20704637 Report on Ulip


INTRODUCTION

Isura9e

Insuran*e ma) !e des*ri!ed as t$ pr$te*t the e*$n$mi* +a"ue $/ asset. It

*an !e said t$ !e a s)stem $/ spreadin the "$sses $/ an indi+idua" $+er a

r$up $/ indi+idua"s.

Sin*e it is an intani!"e pr$du*t, Insuran*e Industr) is a ser+i*e

industr). Insuran*e Industr) d$ n$t pr$du*e an) $$ds !ut se"" the

pr$mise. A pr$mise t$ ta1e *are $/ the *ust$mers $r their dependents in

*ase the) su//er a "$ss due t$ s$me peri" durin the term $/ p$"i*).

What !s !sura9e

Man1ind is e2p$sed t$ man) seri$us peri"s su*h as pr$pert) "$sses /r$m

/ire and windst$rm and pers$na" "$sses /r$m disa!i"it) and premature

death. A"th$uh it is imp$ssi!"e /$r an indi+idua" t$ /$rete"" $r *$mp"ete") pre+ent their $**urren*e !ut it is p$ssi!"e t$ pr$+ide aainst their

/inan*ia" e//e*t the "$ss $/ pr$pert) and earnins.

7r$m the p$int $/ +iew $/ the indi+idua" the "i/e Insuran*e ma) !e

de/ined as a *$ntra*t where!) /$r a &$nsiderati$n am$unt *a""ed the

premium, $ne part) the insurer# arees t$ pa) t$ the $ther the insured#

8/13/2019 20704637 Report on Ulip


$r a !ene/i*iar) a parti*u"ar am$unt up$n the $**urren*e $/ death $r an)

$ther areed e+ent.

Insuran*e is the meth$d $/ spreadin and trans/er $/ ris1s

L$sses $/ /ew un/$rtunate are shared !) and spread $+er t$

man) e2p$sed t$ the same ris1.

Assets *reated !) the $wner in e2pe*tati$n $/ /uture needs

ha+e a +a"ue.

L$sses $/ assets /$r an) reas$n depri+e the $wner $/ the e2pe*ted

!ene/its.

It a*ts as a /$rm $/ a sa/euard aainst mis/$rtunes.

7r$m the p$int $/ +iew $/ *$mmunit) "i/e insuran*e ma) !e

de/ined as a s$*ia" de+i*e t$ ma1e a**umu"ati$ns t$ meet un*ertain

"$sses resu"tin /r$m premature death $r disa!i"it).

Pur%se a+ ee+ ' !sura9e

As said ear"ier that the ma1in is e2p$sed t$ man) seri$us peri"s whi*h

ris1 the se*urit) $/ their !e"$nins. 'he ris1 here means that there is a

p$ssi!i"it) $/ $**urren*e $/ "$ss $r damae t$ the pr$pert), it ma) happen

$r ma) n$t happen. Insuran*e is re"e+ant $n") in the *$ntinen*) $/

un*ertaint). I/ there is n$ un*ertain") a!$ut the $**urren*e $/ the "$ss it

*an’t !e insured aainst

%C

8/13/2019 20704637 Report on Ulip


Assets are "i1e") t$ !e destr$)ed $r made n$n8/un*ti$na" due t$

peri"s "i1e /ire/"$$ds, !rea1d$wns, "ihtnin and earth>ua1e.

Damae t$ assets *aused !) an) peri"s is the ris1 that assets are

e2p$sed t$.

Insuran*e !e*$me re"e+ant $n") i/ there is un*ertain") $/

$**urren*e $/ e+ent "eadin t$ "$ss.

N$ un*ertaint) N$ insuran*e.

(e *an sa) that the human "i/e +a"ue is an $n$in eneratin

asset, whi*h *an !e "$st $n ear") death $r disa!i"it) *aused !)

a**idents.

Insuran*e d$esn’t pr$te*t the assets !ut $n") *$mpensates thee*$n$mi* $r /inan*ia" "$ss.

Basi*a"") insuran*e *$+ers tani!"e assets !ut the *$n*ept *an !e

e2tended t$ intani!"e a"s$.

-UNCTIONS O- INSURANCE

The 'u9t!s ' Isura9e 9a 4e 4!'ur9ate+ !t t; %arts

%. Primar) 7un*ti$ns

. Se*$ndar) 7un*ti$ns

The %r!ar# 'u9t!s ' !sura9e !9&u+e the '&&;!,

Pr$+ide Pr$te*ti$n 8 'he primar) /un*ti$n $/ insuran*e is t$ pr$+ide pr$te*ti$n aainst /uture ris1, a**idents and un*ertaint). Insuran*e *ann$t

%%

8/13/2019 20704637 Report on Ulip


*he*1 the happenin $/ the ris1, !ut *an *ertain") pr$+ide /$r the "$sses $/

ris1. Insuran*e is a*tua"") a pr$te*ti$n aainst e*$n$mi* "$ss, !) sharin

the ris1 with $thers.

&$""e*ti+e !earin $/ ris1 8 Insuran*e is a de+i*e t$ share the /inan*ia"

"$ss $/ /ew am$n man) $thers. Insuran*e is a mean !) whi*h /ew "$sses

are shared am$n "arer num!er $/ pe$p"e.

Assessment $/ ris1 8 Insuran*e determines the pr$!a!"e +$"ume $/ ris1 !)

e+a"uatin +ari$us /a*t$rs that i+e rise t$ ris1. Ris1 is the !asis /$r

determinin the premium rate a"s$

Pr$+ide &ertaint) 8 Insuran*e is a de+i*e, whi*h he"ps t$ *hane /r$m

un*ertaint) t$ *ertaint). Insuran*e is de+i*e where!) the un*ertain ris1s

ma) !e made m$re *ertain.

The se9+ar# 'u9t!s ' !sura9e !9&u+e the '&&;!,

Pre+enti$n $/ L$sses 8 Insuran*e *auti$ns indi+idua"s and !usinessmen t$

ad$pt suita!"e de+i*e t$ pre+ent un/$rtunate *$nse>uen*es $/ ris1 !)

$!ser+in sa/et) instru*ti$ns insta""ati$n $/ aut$mati* spar1"er $r a"arm

s)stems, et*. Pre+enti$n $/ "$sses *ause "esser pa)ment t$ the assured !)the insurer and this wi"" en*$urae /$r m$re sa+ins !) wa) $/ premium.

Redu*ed rate $/ premiums stimu"ate /$r m$re !usiness and !etter

pr$te*ti$n t$ the insured.

Sma"" *apita" t$ *$+er "arer ris1s 8 Insuran*e re"ie+es the !usinessmen

/r$m se*urit) in+estments, !) pa)in sma"" am$unt $/ premium aainst

%

8/13/2019 20704637 Report on Ulip


"arer ris1s and un*ertaint).

&$ntri!utes t$wards the de+e"$pment $/ "arer industries 8 Insuran*e

pr$+ides de+e"$pment $pp$rtunit) t$ th$se "arer industries ha+in m$re

ris1s in their settin up. E+en the /inan*ia" instituti$ns ma) !e prepared t$

i+e *redit t$ si*1 industria" units whi*h ha+e insured their assets

in*"udin p"ant and ma*hiner).

L!'e Isura9e

Li/e insuran*e is a *$ntra*t where the pers$n re>uirin and insuran*e

pa)s a *$nsiderati$n premium t$ maintain a p$"i*) and the insurer

pr$mises t$ pa) a sum assured $r a uaranteed am$unt $n the happenin

$/ an e+entua"it). I/ n$ e+entua"it) $**urs then the insured ma) !e

e"ii!"e /$r s$me !$nus a"s$.

Wh# &!'e !sura9e

%. Pr$te*ti$n $/ the interest $/ the /ami") mem!er.

. Pr$+isi$n /$r edu*ati$n and marriae $/ the *hi"dren.

-. P$st retirement in*$me /$r se"/ and dependents

4. Spe*ia" needs /$r medi*a" e2penses.

;. Pr$+isi$n /$r hea"th i""ness.

=. Pr$+isi$n /$r h$usin.

%-

8/13/2019 20704637 Report on Ulip


?. Pr$+isi$n /$r in*$me ta2 re!ate.

.ee'!ts ' &!'e !sura9e

Insuran*e n$t $n") ser+es the ends $/ indi+idua"s $r $/ spe*ia" r$ups $/

indi+idua"s !ut a"s$ is ad+antae$us t$ the s$*iet) as a wh$"e.

.ee'!ts T The I+!"!+ua&

Su%er!r t a# ther sa"!, %&as

Un"i1e an) $ther sa+in p"an, a "i/e insuran*e p$"i*) a//$rds /u""

pr$te*ti$n aainst ris1 $/ death. In the e+ent $/ death $/ a p$"i*) h$"der,

the insuran*e *$mpan) ma1es a+ai"a!"e the /u"" sum assured t$ the near

and dear $/ p$"i*) h$"der. In *$mparis$n, an) $ther sa+in p"an w$u"d

am$unt the t$ta" sa+in a**umu"ated ti"" date. I/ the death $**urs premature"), su*h sa+in *an !e mu*h "esser than sum assured. E+ident"),

the p$tentia" /inan*ia" "$ss $/ the /ami") $/ the p$"i*) h$"der is si3a!"e.

E9ura,es a+ 'r9es thr!'t

A sa+in dep$sit *an easi") !e withdrawn. 'he pa)ment $/ Li/e insuran*e premiums, h$we+er, is *$nsidered sa*r$san*t and is +iewed with the same

%4

8/13/2019 20704637 Report on Ulip


seri$usness as the pa)ment $/ interest $n a m$rtae. 'hus, a "i/e

insuran*e p$"i*) in e//e*t !rins a!$ut *$mpu"s$r) sa+in.

Eas# Sett&eet A+ Prte9t! A,a!st Cre+!trs

A "i/e insuran*e p$"i*) is the $n") /inan*ia" instrument , the pr$*eeds $/

whi*h *an !e pr$te*ted aainst the *"aims $/ a *redit$r $/ the assured !)

a//e*tin a +a"id assinment $/ the p$"i*).

A+!!ster!, the &e,a9# 'r 4ee'!9!ar!es

Spe*u"ati+e $r $therwise, e2penses *an >ui*1") *ause the pr$*eeds t$ !e

s>uandered. Se+era" p$"i*ies ha+e /$reseen this p$ssi!i"it) and pr$+ide

/$r pa)ment $+er a peri$d $/ )ears $r in a *$m!inati$n $/ insta""ments

and "ump sum am$unts.

Rea+# arket!, a+ su!ta4!&!t# 'r *u!9k 4rr;!,

A "i/e insuran*e p$"i*) *an, a/ter a *ertain peri$d enera"") 'hree )ears #,

is surrendered /$r a *ash +a"ue. 'he p$"i*) is a"s$ a**epta!"e as a se*urit)

/$r *$mmer*ia" "$ans, /$r e2amp"e, a student "$an.

D!sa4!&!t# 4ee'!ts

%;

8/13/2019 20704637 Report on Ulip


Death is n$t $n") ha3ard that is insured man) p$"i*ies ma) in*"ude

disa!i"it) !ene/its. ')pi*a""), these pr$+ide /$r wai+er $/ /uture

premiums and pa)ment $/ m$nth") insta""ment peri$ds.

A99!+eta& +eath 4ee'!ts

Man) p$"i*ies *an a"s$ pr$+ide /$r an e2tra sum t$ !e paid t)pi*a"")

e>ua" t$ the sum assured# i/ death $**urs as a resu"t $/ a**ident.

Ta? re&!e'

Under the Indian in*$me ta2 a*t, the /$""$win ta2 re"ie/ is a+ai"a!"e

%. CF $/ premium *an !e dedu*ted /r$m t$ta" in*$me ta2

"ia!i"it).

. %CCF $/ the premium paid is dedu*ti!"e /r$m )$ur t$ta"

ta2a!"e in*$me.

(hen these !ene/its are /a*t$red in, it is /$und that m$st P$"i*ies $//er

returns that are *$mpara!"e $r e+en !etter than $ther sa+in m$des su*h

as PP7, NS& et*. m$re$+er, the *$st $/ insuran*e is a +er) ne"ii!"e.

.ee'!ts t 4us!ess

Insuran*e resu"ts in !usiness *$ntinuati$n and we"/are $/ emp"$)ees.

Un*ertaint) $/ !usiness "$sses is redu*ed !) insuran*e.

.ee'!ts ' s9!et#

%=

8/13/2019 20704637 Report on Ulip


'he we"/are $/ the s$*iet) is pr$te*ted. Insuran*e resu"ts in e*$n$mi*

r$wth $/ the *$untr) and redu*ti$n in in/"ati$n.

ICICI

'he ($r"d Ban1 esta!"ished I&I&I L'D in %;;, the G$+ernment

$/ India and the Indian Industr), pr$m$te Industria" de+e"$pment $/ India

!) pr$+idin pr$0e*t and *$rp$rate /inan*e t$ Indian industr).

I&I&I has r$wn /r$m a de+e"$pment !an1 t$ a /inan*ia"

*$n"$merate and has !e*$me $ne $/ the "arest pu!"i* /inan*ia"

instituti$ns $/ India. I&I&I has /inan*ed a"m$st a"" ma0$r se*t$r $/ the

e*$n$m), *$+erin =@4@ *$mpanies and %=@;%pr$0e*ts. In the /is*a" )ear

CC8 CC-, I&I&I had dis!ursed a t$ta" $/ Rs 4;=?- !i""i$n. Assets

w$rth.%=?=.; !i""i$n as $n -%st $/ mar*h CC; and *ust$mer = mi""i$n

and ; mi""i$n p$"i*)h$"der a**$unt. Mu"ti *hanne" netw$r1, ;?- !ran*hes

and CCCA'Ms

PRUDENTIAL

Prudentia" was /$unded in %@4@. Prudentia" is the "arest "i/e insuran*e

*$mpan) in the United Hind$m. Pr$+ides retai" /inan*ia" ser+i*es

%?

8/13/2019 20704637 Report on Ulip


pr$du*ts and ser+i*es t$ m$re than C mi""i$n *ust$mers, p$"i*)h$"der

and unit h$"ders and manaes $+er -CC !i""i$n $/ /unds w$r"dwide as $/

-% De*em!er CC=#. In Asia, Prudentia" is the "eadin Eur$pean "i/e

insuran*e *$mpan) with "i/e $perati$ns in &hina, 5$n H$n, India,

Ind$nesia, Japan, H$rea, Ma"a)sia, the Phi"ippines, Sinap$re, 'aiwan,

'hai"and, Kietnam. Prudentia" is the se*$nd "arest retai" /und manaer

/$r Asian s$ur*ed assets e28Japan as at June CC=. Its /und manaement

!usiness has e2panded int$ a t$ta" $/ ten mar1ets .

ICICI B PRUDENTIAL (6OINT VENTURE)

A J$int +enture I&I&I and Prudentia" $/ UH

I&I&I Prudentia" started its $perati$n in De*em!er CCC

'he 1e) $!0e*ti+e $/ I&I&I prudentia" is t$ pr$+ide the Indian *iti3en t$

suit a +ariet) $/ needs.

Pru+et!a& “,ees!s”

7$unded in %@[email protected].

7$urth "arest insuran*e *$mpan) in the w$r"d as per /$rtune ;CC in terms

$/ re+enues

Leadin "i/e insuran*e &$mpan) in United Hind$m.

O+er US ?C BILLION Rs.%, =,CCC *r$res# under a manaement.

AAA ratin /r$m standard 9 p$$r’s the hihest ratin#

O+er ?; )ears $/ e2perien*e with $perati$n in %% *$untries.

%@

8/13/2019 20704637 Report on Ulip


C5APTER /

RESEARC5 MET5ODOLO7Y

%

8/13/2019 20704637 Report on Ulip



O!0e*ti+e $/ stud)

')pe $/ resear*h

Resear*h desin

S$ur*e $/ data

Samp"in unit

Samp"e si3e

')pe $/ samp"in

Meth$d $/ data *$""e*ti$n

Instrument used /$r data *$""e*ti$n

Limitati$n

C

8/13/2019 20704637 Report on Ulip



Resear*h Meth$d$"$) dea"s with, the pr$*edure ad$pted t$ *arr) $ut the

stud).

A**$rdin t$ reen and 'u""

:A resear*h desin is the spe*i/i*ati$n $/ meth$ds and pr$*edures

a*>uirin the in/$rmati$n needed It is the $+era"" $perati$na" pattern $r

/ramew$r1 $/ the pr$0e*t that stipu"ates whi*h in/$rmati$n is t$ !e

*$""e*ted /r$m whi*h s$ur*es !) what pr$*edures’’. 7$r *$ndu*tin the

stud), the resear*her has ad$pted !$th primar) as se*$ndar) meth$d $/

data *$""e*ti$n.

O.6ECTIVE O- STUDY

'he purp$se $/ resear*h is t$ dis*$+er answer t$ >uesti$ns thr$uh

the app"i*ati$n $/ s*ienti/i* pr$*edures. 'he main aim $/ resear*h is t$

/ind $ut truth whi*h is hidden and whi*h has n$t !een dis*$+ered as )et.

'h$uh ea*h resear*h stud) has its $wn spe*i/i* purp$se, we ma) thin1

%

8/13/2019 20704637 Report on Ulip


$/ resear*h $!0e*ti+es as /a""in int$ a num!er $/ /$""$win !r$ad

r$upin

'$ *he*1 the awareness "e+e" $/ pe$p"e a!$ut insuran*e.

'$ 1n$w the reas$ns /$r in*reasin trend $/ unit "in1ed

insuran*e p"an.

'$ 1n$w h$w ULIP are di//er /r$m 'raditi$na" p"ans means

h$w the) i+e !etter returns than traditi$na" p"an.

&$mparis$n $/ in+estment p"an with $ther ta2 sa+in

instruments.

&$mparis$n $/ ULIP with $ther in+estment instrument a+ai"a!"e

in the mar1et.

TYPE O- RESEARC5

Resear*h re/ers t$ the sear*h /$r 1n$w"ede. It *an !e de/ined as

s*ienti/i* and s)stemati* sear*h /$r pertinent in/$rmati$n $n a spe*i/i*

t$pi*. It is *are/u" in+estiati$n $r en>uir) espe*ia"") thr$uh sear*h /$r

new /a*ts $/ an) !ran*h $/ 1n$w"ede.

Resear*h p"a)s an imp$rtant r$"e in the pr$0e*t w$r1.

'he resu"t $/ the pr$0e*t is *$mp"ete") !ased up$n the resear*h $/ the

/a*ts and /iures *$""e*ted thr$uh the di//erent wa)s $/ resear*h. 'hat is

8/13/2019 20704637 Report on Ulip


wh) it is a"s$ *a""ed a m$+ement /r$m 1n$wn t$ un1n$wn. Resear*h is

the $riina" *$ntri!uti$n t$ the e2istin st$*1 $/ 1n$w"ede.

E?%&ratr# r -ru&at!"e resear9h E2p"$rat$r) resear*h is *$ndu*ted

t$ *"ari/) the am!iu$us pr$!"ems.

Des9r!%t!"e resear9h '$ p$rtra) the *hara*teristi*s $/ an indi+idua", r$up,

situati$n, et*.

D!a,st!9 resear9h '$ determine the /re>uen*) $/ $**urren*e $/ an e+ent.

Resear9h Des!,

In the data *$""e*ti$n meth$d, we ha+e *$""e*ted !$th

primar) and se*$ndar) data t$ meet $ur $!0e*ti+e.

Pr!ar# +ata

'he primar) data was *$""e*ted !) a sur+e) !ased $n the

>uesti$nnaire. It was /$rmu"ated $n the !asis $/ in/$rmati$n athered !)

me with the he"p $/ Mr. Hapi" &haw"a wh$ pr$+ide use/u" uide"ines and

$!0e*ti+e $/ $ur stud).

Se9+ar# +ata

'he se*$ndar) data was *$""e*ted /r$m !$$1s and internet.

Data Sur9e

'he data that is *$""e*ted /r$m di//erent s$ur*es, as the /irst hand

in/$rmati$n that is *a""ed primar) data. 'he s$ur*e $/ primar) data in m)

-

8/13/2019 20704637 Report on Ulip


resear*h is >uesti$nnaire and $!ser+ati$n meth$d. 'he se*$ndar) data

were a"s$ used in m) rep$rt preparati$n. 'his is *$""e*ted /r$m *$mpan)

re*$rd and /r$m internet.

Resear9h A%%ra9h

'he re>uired in/$rmati$n in the /$rm $/ data is *$""e*ted thr$uh

sur+e) meth$d, with the he"p $/ pers$na" inter+iew thr$uh >uesti$nnaire

meth$d.

Sa%&!, %&a

'here is a stae where the p"annin is d$ne a!$ut the samp"e units,

samp"e si3e, samp"in pr$*edures, et*.

Sa%&e u!ts

'his means, whi*h is t$ !e sur+e)ed. S$ as menti$n ear"ier that the

samp"e units is p$tentia" pe$p"es..

Sa%&e s!:e

'he samp"e si3e means h$w man) pe$p"es sh$u"d !e sur+e)ed. S$

that t$ta" samp"e si3e is %;C, whi*h *$+er /r$m di//erent area $/ ura$n.

Sa%&!, Pr9e+ures

I *h$$se *$n+enient and 0udmenta" samp"in /$r m) resear*h.

Data 9&&e9t! eth+

4

8/13/2019 20704637 Report on Ulip


Pers$na" inter+iew meth$d is used /$r *$""e*ti$n $/ primar) data in

the /$rm $/ >uesti$nnaire /r$m resp$ndents.

Resear9h Istruets

On*e the s$ur*e $/ data *$""e*ti$n is de*ided then *$mes the

instrument /$r data *$""e*ti$n $r the resear*h instrument. In this sur+e)

meth$d a >uesti$nnaire was /ramed. 'his is Phi"ip !) the p$tentia" pe$p"e

th$uh pers$na" inter+iew

LIMITATION

5$w s$ e+er impe**a!"e a thin ma) see t$ !e there a"wa)s dwe"" s$me

p$ssi!i"ities $/ /ai"ure and in*$mp"eteness. 'he resu"t $/ this w$r1 a"s$

su!0e*t t$ s$me $/ "imitati$ns.

(hi*h are as /$""$ws

'he main "imitati$n $/ the stud) is the a+ai"a!i"it) $/ time. As the

su//i*ient time was n$t a+ai"a!"e /$r *$""e*ti$n $/ in/$rmati$n.

S$me resp$ndents were n$t interested in i+in answer and

the) appeared t$ !e !us).

La*1 $/ e2perien*e.

;

8/13/2019 20704637 Report on Ulip


C5APTER

INDUSTRY PRO-ILE

INSURANCE INDUSTRY PRO-ILE

=

8/13/2019 20704637 Report on Ulip


L!'e Isura9e

As is e+ident /r$m its +er) name, it dea"s with insuran*e $/ human "i/e.

:Li/e insuran*e *$rp$rati$n $/ India<8 a pu!"i* se*t$r underta1in has the

m$n$p$") in this se*t$r sin*e its nati$na"i3ati$n.

In $ur w$rdi") "i/e, whene+er there is un*ertaint), there is an in+$"+ement

$/ ris1. 'he instin*t /$r se*urit) aainst su*h ris1 is $ne $/ the !asi*

m$ti+atin /$r*es determinin human attitudes. As a s>uea" t$ this >uest

/$r Se*urit), the *$n*ept $/ insuran*e must ha+e !een !$rn. 'he ure t$

pr$+ide insuran*e $r pr$te*ti$n aainst the "$ss $/ "i/e 9 pr$pert) must

ha+e pr$mpted pe$p"e t$ ma1e s$me s$rt $/ sa*ri/i*e wi""in") in $rder t$

a*hie+e se*urit) thr$uh :&OLLE&'IKE &O8OPERA'ION<, in this

sense st$r) $/ insuran*e is pr$!a!") as $"d as '5E st$r) $/ man1ind.

INSURANCE INDUSTRY IN INDIA

India is mar*hin ahead t$ m$re pr$sper$us /uture. 'he

e*$n$m) is $n a hih r$wth path, d$mesti* sa+ins are r$win, e2p$rts

ha+e risen and in/"ati$n has sta!i"i3ed. In/rastru*ture se*t$r, whi*h e+en

t$da) is w$e/u"") inade>uate t$ meet the e2pe*ted in*reased industria"

a*ti+ities, has !een a**$rded t$p pri$rit) !) the $+ernment. A"" this

sh$u"d re/"e*t in a r$wth rate $/ ? t$ @F /$r the ne2t -84 )ears. (ith this

?

8/13/2019 20704637 Report on Ulip


s*enari$ $/ hih e*$n$mi* r$wth /urther re/$rms in the /inan*ia" se*t$r

are in the &$mm$n Minimum Pr$ram $/ the G$+ernment.

India is rearded as under8 insured *$untr) with insuran*e penetrati$n at

a +er) "$w "e+e" $/ C.=F $/ GDP. Insuran*e, as a ru"e, has a"wa)s !een

i+en +er) "$w pri$rit) !) *$rp$rate India. It is a"wa)s ta1en with

re"u*tan*e, usua"") $n") when it is *$mpu"s$r), and then $n") !) !i

industria" h$uses. (ith$ut e2*epti$n it is a"wa)s inade>uate t$ meet the

needs $/ the *$rp$rate se*t$r.

In additi$n t$ the traditi$n e2p$sure $/ /ire, /"$$ds, w$r1ers *$mpensati$n

and the interrupti$n, &$rp$rate India a"s$ has t$ address unpredi*ta!"e

*hanes in areas su*h as en+ir$nment se*urit) $**upati$na" hea"th and

sa/et) pu!"i* "ia!i"ities Dire*t$rs and O//i*ers Lia!i"it) and pr$du*t

"ia!i"it)

It there/$re !e*$mes >uite $!+i$us that pur*hase $/ insuran*e, in itse"/,

wi"" n$t su!stitute /$r a s$und") !ased and pr$pert) imp"emented Ris1

Manaement

Pr$ram as insuran*e *an $n") $//er s$me /inan*ia" re"ie/ !) rep"a*in the

p"ants it *ann$t rep"a*e the "$ss in de+e"$pment $/ a !usiness $rde+e"$pment $/ the mar1et.

The &!ke&# %r!"ate %&a#ers

A num!er $/ /$rein insuran*e *$mpanies ha+e set up representati+e

$//i*e in India and ha+e a"s$ tied up with +ari$us asset manaement

*$mpanies. 'he) ha+e either sined Mem$randum $/ Understandin with

@

8/13/2019 20704637 Report on Ulip


Indian *$mpanies $r are tr)in t$ d$ the same. A /ew $/ them ha+e !een

ar$und /$r the "ast /$ur t$ /i+e )ears. S$me ha+e *arried $ut e2tensi+e

resear*h $n the Indian insuran*e se*t$r. Others ha+e set up "iais$n $//i*es.

A"" $/ them are waitin with !ated !reathe /$r the $penin up $/ the

se*t$r and ta1in a !ite $/ the reat Indian Insuran*e pie.

Var!us P&a#ers Presets I The Market

%. Ba0a0 A""ian3 Li/e Insuran*e &$mpan) Limited.. Bir"a Sun Li/e Insuran*e &$. Ltd.

-. 5D7& Standard Li/e Insuran*e &$. Ltd.

4. I&I&I Prudentia" Li/e Insuran*e &$. Ltd.

;. ING K)s)a Li/e Insuran*e &$mpan) p+t.Ltd.

=. Li/e Insuran*e &$rp$rati$n $/ India.

?. Ma2 New $r1 Li/e Insuran*e &$. Ltd.

@. H$ta1 Mahindra O"d Mutua" Li/e Insuran*e Limited.

8/13/2019 20704637 Report on Ulip


. SBI Li/e Insuran*e &$. Ltd.

%C. 'ata AIG Li/e Insuran*e &$mpan) Limited.

%%.Re"ian*e Li/e Insuran*e &$mpan) Limited.

%.A+i+a Li/e Insuran*e &$. India P+t.Ltd.

%-.Sahara India Li/e Insuran*e &$.Ltd.

%4.Shriram Li/e Insuran*e &$.Ltd.

%;.Bharti AA Li/e insuran*e &$mpan) Ltd.

%=.Met Li/e India Insuran*e &$mpan) P+t. Ltd.

MOST RELIA.LE PVT8 LI-E INSURANCE COMPANY

-C

8/13/2019 20704637 Report on Ulip


32%

22%11%

9%

7%

19% ICICI

BIRLASUNLIFE

HDFC STANDARD

MAX NEWYORK LIFE

TATA AIG

OTHERS

INTRODUCTION TO IRDA

-%

8/13/2019 20704637 Report on Ulip


Isura9e re,u&atr# authr!t#$ @1 (IRA)

• 'he IRA was set up in Januar) %=

• 'he IRA !i"" has /irst t$ !e passed !) par"iament t$ ma1e

the IRA a statut$r) !$d).

• Se*$nd, the p$wers $/ the erstwhi"e *$ntr$""er $/ insuran*e

ha+e t$ !e *$n/erred $n the IRA.

• 'hird, *$mprehensi+e "eis"ati$n aimed at re+iewin the

insuran*e a*t $/ %-@ and repea"in the LI7E

INSURAN&E &ORPORA'ION A&' $/ %;= and the

enera" insuran*e Nati$na"i3ati$n# a*t $/ %? ha+e t$ !e

passed.

7"erets %ru9eets

• P$st statut$r) status, IRA t$ !e *entre pie*e /$r /uture insuran*e

se*t$r re/$rms

• IRA wi"" !e s$"e auth$rit), whi*h wi"" !e resp$nsi!"e /$r awardin

$/ "i*ensin i.e. "itt"e $r n$ $+ernment $r p$"iti*a" inter/eren*e in

"i*ensin in pr$*ess.

• N$ restri*ti$n $n the n$. $/ "i*enses.

• N$ *$mp$site "i*enses /$r "i/e and n$n "i/e !usiness.

-

8/13/2019 20704637 Report on Ulip


IRDA was set up t$ pr$te*t the interests $/ the p$"i*)h$"ders, t$ reu"ate,

pr$m$te and ensure $rder") r$wth $/ the insuran*e industr). A/ter this

the pri+ate p"a)ers started enterin the mar1et.

C5APTER F

COMPANY PRO-ILE

--

8/13/2019 20704637 Report on Ulip


Or,a!:at!a& set u%

'he $rani3ati$na" set up $/ a *$mpan) p"a)s an imp$rtant r$"e in

the $+era"" e//i*ient w$r1in $/ the +ari$us departments "eadin t$

an impr$+ed $+era"" per/$rman*e. 'he arranement has t$ !e made

in su*h a wa) that a*ti+ities are *arried $ut in ea*h department in

the sm$$th wa).

'he department has t$ !e made $n the !asis $/ +ari$us a*ti+ities $/

the *$mpan).

A*ti+ities eneratin re+enue are i+en m$re imp$rtan*e than n$n8

re+enue a*ti+ities.

'hus +ari$us $//i*es, departments and se*ti$ns are *reated "$$1in

t$ the imp$rtant a*ti+ities $/ the Insuran*e &$mpan).

I%rtat a9t!"!t!es

'he imp$rtant a*ti+ities $/ the Insuran*e *$mpanies are88

-4

8/13/2019 20704637 Report on Ulip


Pr$*urin new pr$p$sa"s /$r rant $/ "i/e insuran*e *$+er.

S*rutin) $/ pr$p$sa"s and i+in de*isi$ns /$r

A**eptinre0e*tin the pr$p$sa"s $/ Insuran*e.

Issuin a p$"i*) d$*ument.

Heepin tra*1 $/ per/$rman*e $/ insuran*e *$ntra*t !) wa) $/

re*eipt $/ premiums.

Pr$+idin assistan*e in +ari$us matters "i1e n$minati$ns,

assinment, a"terati$n $/ terms, *hane $/ address and pa)ment $/

*"aims.

Other a*ti+ities "i1e in+estment $/ /unds, maintenan*e $/ a**$unts,

pers$nne" manaement, data pr$*essin and *$mp")in with $ther

"ea" and reu"at$r) re>uirements

'hese *an !e termed as the imp$rtant a*ti+ities $/ the Li/e

Insuran*e *$mpanies. 'he insuran*e *$mpanies ma) *$n*entrate

these a*ti+ities at $nes p"a*e i/ it area $/ $perati$n is "imited $r the

a*ti+ities ma) !e de*entra"i3ed !e*ause $/ the /a*t that the area $/that *$mpan) is a"s$ de*entra"i3ed.

Stru9ture O' The C%a#

'he I&I&I Prudentia" is a 0$int +enture $/ I&I&I ?4F# and

Prudentia" UH =F#. I&I&I Prudentia" Li/e Insuran*e was in*$rp$rated

-;

8/13/2019 20704637 Report on Ulip


$n Ju") C,CCC and was ranted a *erti/i*ate $/ reistrati$n /$r *arr)in

$ut "i/e insuran*e !usiness, !) the IRDA $n N$+em!er 4,CCC.

I&I&I Prudentia"s *apita" !ase stands at Rs. %@.%; !i""i$n with I&I&I

Ban1 and Prudentia" p"* h$"din ?4F and =F sta1e respe*ti+e"). 7$r the

m$nths ended De*em!er -%, CC=, the *$mpan) arnered Rs.?.

!i""i$n $/ weihted retai" and r$up new !usiness premium and wr$te

$+er %.% mi""i$n p$"i*ies. Assets he"d stand at $+er Rs.%CCC !i""i$n.

It *$mmen*ed *$mmer*ia" $perati$n $n De*em!er %,CCC

!e*$min $ne $/ the /irst pri+ate se*t$r p"a)ers t$ enter the "i!era"i3ed

arena. Durin the sh$rt peri$d ti"" Mar*h -%,CC- 'he *$mpan) has

issued .4; p$"i*ies trans"atin int$ a premium In*$me Rs ;.? mi""i$n

and the sum assured $/ $+er Rs %CCC mi""i$n. 'he *$mpan) is n$w

$peratin in Mum!ai.New 8De"hi, Pune, &hennai, H$"1ata, Ban"$re,

Ahmeda!ad, 5)dera!ad and Lu*1n$w.

ICICI PRUDENTIAL LI-E INSURANCE

I&I&I Prudentia" Li/e Insuran*e &$mpan) is a 0$int +enture !etween

I&I&I Ban18

$ne $/ Indias /$rem$st /inan*ia" ser+i*es *$mpanies8and Prudentia" p"*8 a

"eadin internati$na" /inan*ia" ser+i*es r$up head>uartered in the United

Hind$m. '$ta" *apita" in/usi$n stands at Rs. C.=C !i""i$n, with I&I&I

-=

8/13/2019 20704637 Report on Ulip


Ban1 h$"din a sta1e $/ ?4F and Prudentia" p"* h$"din =F.

(e !ean $ur $perati$ns in De*em!er CCC a/ter re*ei+in appr$+a" /r$m

Insuran*e Reu"at$r) De+e"$pment Auth$rit) IRDA#. '$da), $ur

nati$n8wide team *$mprises $/ $+er ;@C $//i*es, $+er -C,CCC ad+is$rs

and - !an*assuran*e partners.

I&I&I Prudentia" was the /irst "i/e insurer in India t$ re*ei+e a Nati$na"

Insurer 7inan*ia" Strenth ratin $/ AAA Ind# /r$m 7it*h ratins.As we

r$w $ur distri!uti$n, pr$du*t rane and *ust$mer !ase, we *$ntinue t$

tire"ess") uph$"d $ur *$mmitment t$ de"i+er w$r"d8*"ass /inan*ia"

s$"uti$ns t$ *ust$mers a"" $+er India.

Prters O' I9!9! Pru+et!a&

ICICI .ak

I&I&I Ban1 is India’s se*$nd8"arest !an1 with t$ta" assets $/ a!$ut

Rs.%@.%@ !i""i$n and a netw$r1 $/ a!$ut ;C !ran*hes and $//i*es and

a!$ut C-C A'Ms. It $//ers a wide rane $/ !an1in pr$du*ts and/inan*ia" ser+i*es t$ *$rp$rate and retai" *ust$mers thr$uh a +ariet) $/

de"i+er) *hanne"s and thr$uh its spe*ia"i3ed su!sidiaries and a//i"iates in

the areas $/ in+estment !an1in, "i/e and n$n8"i/e insuran*e, +enture

*apita", asset manaement and in/$rmati$n te*hn$"$).

-?

8/13/2019 20704637 Report on Ulip


I&I&I Ban1 p$sted a net pr$/it $/Rs.%, =-? *r$re /$r the )ear ended

Septem!er -C,CC;. I&I&I Ban1’s e>uit) shares are "isted in India $n

st$*1

e2*hanes at &hennai, De"hi, H$"1ata and Kad$dara, the St$*1

E2*hanes, Mum!ai and the Nati$na" st$*1 e2*hane O/ India "imited

and its Ameri*an Dep$sitar) Re*eipts ADRS# are "isted $ther New $r1

St$*1 E2*hane NSE#.

PRUDENTIAL PLC

Esta!"ished in L$ndan %@4@, Prudentia" p"* is a "eadin internati$na"

/inan*ia" ser+i*es *$mpan) In the UH, with ar$und US-CC !i""i$n /unds

under manaement, and m$re than C Mi""i$n *ust$mers w$r"dwide as

$/ -% De*em!er#. Prudentia" has !r$uht t$ mar1et an interated rane $/

7inan*ia" ser+i*es pr$du*ts that n$w in*"udes "i/e assuran*e, pensi$ns,

mutua" /unds, !an1in in+estment manaement and enera" insuran*e. In

Asia, Prudentia" is UH’s "arest "i/e insuran*e *$mpan) with a +astnetw$r1 $/ 4 "i/e and mutua" /und $perati$ns in twe"+e *$untries

&hina, 5$n1 H$n, India, Ind$nesia, Japan, H$rea, Ma"a)sia, the

Phi"ippines, Sinap$re, 'aiwan, 'hai"and and Kietnam.

-@

8/13/2019 20704637 Report on Ulip


PRODUCT PRO-ILE

-

8/13/2019 20704637 Report on Ulip


PRODUCT PRO-ILE

Isura9e S&ut!s 'r I+!"!+ua&s

I&I&I Prudentia" Li/e Insuran*e $//ers a rane $/ inn$+ati+e, *ust$mer8

*entri* pr$du*ts that meet the needs $/ *ust$mers at e+er) "i/e stae. Its

pr$du*ts *an !e enhan*ed with up t$ 4 riders, t$ *reate a *ust$mi3ed

s$"uti$n /$r ea*h p$"i*)h$"der.

Sa"!,s = Wea&th Creat! S&ut!s

Sa"eGGPrte9t is a traditi$na" end$wment sa+ins p"an that $//ers "i/e

pr$te*ti$n a"$n with return.

4C

8/13/2019 20704637 Report on Ulip


Cash.ak is an anti*ipated end$wment p$"i*) idea" /$r meetin mi"est$ne

e2penses "i1e a *hi"ds marriae, e2penses /$r a *hi"ds hiher edu*ati$n

$r pur*hase $/ an asset. It is a+ai"a!"e /$r terms $/ %; and C )ears.

L!'eT!e Su%er 9 L!'eT!e P&us are unit8"in1ed p"ans that $//er

*ust$mers the /"e2i!i"it) and *$ntr$" t$ *ust$mi3e the p$"i*) t$ meet the

*hanin needs at di//erent "i/e staes. Ea*h $//er = /und $pti$ns 8

Preser+er, Pr$te*t$r, Ba"an*er, Ma2imiser, 7"e2i Gr$wth and 7"e2i

!a"an*ed.

L!'eL!k Su%er is a sin"e premium unit "in1ed insuran*e P"an whi*h

*$m!ines "i/e insuran*e *$+er with the $pp$rtunit) t$ sta) in+ested in the

st$*1 mar1et.

Pre!er L!'e 7&+ is a "imited premium pa)in p"an spe*ia"") stru*tured

/$r "$n term wea"th *reati$n.

I"estSh!e&+ L!'e Ne; is a unit "in1ed p"an that pr$+ides premium

uarantee $n the in+ested premiums and ensures that the *ust$mer

re*ei+es $n") the !ene/its $/ /und appre*iati$n with$ut an) $/ the ris1s $/depre*iati$n.

I"estSh!e&+ Cash4ak is a unit "in1ed p"an that pr$+ides premium

uarantee $n the in+ested premiums a"$n with /"e2i!"e "i>uidit) $pti$ns.

Prte9t! S&ut!s

4%

8/13/2019 20704637 Report on Ulip


L!'e7uar+ is a pr$te*ti$n p"an, whi*h $//ers "i/e *$+er at "$w *$st. It is

a+ai"a!"e in - $pti$ns 8 "e+e" term assuran*e, "e+e" term assuran*e with

return $/ premium and sin"e premium.

5eAssure is a m$rtae redu*in term assuran*e p"an desined

spe*i/i*a"") t$ he"p *ust$mers *$+er their h$me "$ans in a simp"e and *$st

e//e*ti+e manner.

Ch!&+ P&as

Edu*ati$n insuran*e under the SmartHid !rand pr$+ides uaranteed

edu*ati$na" !ene/its t$ a *hi"d a"$n with"i/e insuran*e *$+er /$r the

parent wh$ pur*hases the p$"i*). 'he p$"i*) is desined t$ pr$+ide

m$ne) at imp$rtant mi"est$nes in the *hi"ds "i/e. SmartHid p"ans are a"s$

a+ai"a!"e in unit8"in1ed /$rm 8 !$th sin"e premium and reu"ar premium.

Ret!reet S&ut!s

-re"erL!'e is a traditi$na" retirement pr$du*t that $//ers uaranteed

returns /$r the /irst 4 )ears and then de*"ares !$nuses annua"")

.L!'eT!e Su%er Pes! is a reu"ar premium unit "in1ed pensi$n p"an

that he"ps $ne a**umu"ate $+er the "$n term and $//ers ; annuit) $pti$ns

"i/e annuit), "i/e annuit) with return $/ pur*hase pri*e, 0$int "i/e "ast

sur+i+$r annuit) with return $/ pur*hase pri*e, "i/e annuit) uaranteed /$r

;,%C and %; )ears 9 /$r "i/e therea/ter, 0$int "i/e, "ast sur+i+$r annuit)

with$ut return $/ pur*hase pri*e# at the time $/ retirement.

4

8/13/2019 20704637 Report on Ulip


L!'eL!k Su%er Pes! is a sin"e premium unit "in1ed pensi$n p"an.

Ie+!ate Au!t# is a sin"e premium annuit) pr$du*t that uarantees

in*$me /$r "i/e at the time $/ retirement. It $//ers the !ene/it $/ ; pa)$ut

$pti$n.

5ea&th S&ut!s

5ea&th Assure a+ 5ea&th Assure P&us 5ea"th Assure is a reu"ar

premium p"an whi*h pr$+ides "$n term *$+er aainst = *riti*a" i""nesses

!) pr$+idin p$"i*)h$"der with /inan*ia" assistan*e, irrespe*ti+e $/ the

a*tua" medi*a" e2penses. 5ea"th Assure P"us $//ers the added ad+antae

$/ an e>ui+a"ent "i/e insuran*e *$+er.

Ca9er Care is a reu"ar premium p"an that pa)s *ash !ene/it $n the

dian$sis as we"" as at di//erent staes in the treatment $/ +ari$us *an*er

*$nditi$ns.

D!a4etes Care Dia!etes &are is a uni>ue *riti*a" i""ness pr$du*t

spe*ia"") de+e"$ped /$r indi+idua"s with ')pe dia!etes and pre8

dia!etes. It ma1es pa)ments $n dian$sis $n an) $/ = dia!etes re"ated

*riti*a" i""nesses, and a"s$ $//ers a *$$rdinated *are appr$a*h t$ manain

the *$nditi$n. Dia!etes &are P"us a"s$ $//ers "i/e *$+er.

5s%!ta& Care is a /i2ed !ene/it p"an *$+erin +ari$us staes $/

treatment Q h$spita"isati$n, I&U, pr$*edures 9 re*uperatin a""$wan*e. It

4-

8/13/2019 20704637 Report on Ulip


*$+ers a rane $/ medi*a" *$nditi$ns CC sureries# and has a "$n term

uaranteed *$+erae upt$ C )ears.

7ru% Isura9e S&ut!s

I&I&I Prudentia" a"s$ $//ers Gr$up Insuran*e S$"uti$ns /$r *$mpanies

see1in t$ enhan*e !ene/its t$ their emp"$)ees.

7ru% 7ratu!t# P&a I&I&I Prus r$up ratuit) p"an he"ps emp"$)ers

/und their statut$r) ratuit) $!"iati$n in a s*ienti/i* manner. 'he p"an

*an a"s$ !e *ust$mi3ed t$ stru*ture s*hemes that *an pr$+ide !ene/its

!e)$nd the statut$r) $!"iati$ns.

7ru% Su%erauat! P&a I&I&I Pru $//ers !$th de/ined

*$ntri!uti$n D&# and de/ined !ene/it DB# superannuati$n s*hemes t$

$ptimise returns /$r the mem!ers $/ the trust and rati$na"ise the *$st.

Mem!ers ha+e the $pti$n $/ *h$$sin /r$m +ari$us annuit) $pti$ns $r

$ptin /$r a partia" *$mmutati$n $/ the annuit) at the time $/ retirement.

7ru% Ie+!ate Au!t!es In additi$n t$ the annuities $//ered t$

e2istin superannuati$n *ust$mers, we $//er immediate annuities t$

superannuati$n /unds n$t manaed !) us.

7ru% Ter P&a I&I&I Prus /"e2i!"e r$up term s$"uti$n he"ps

pr$+ide a//$rda!"e *$+er t$ mem!ers $/ a r$up. 'he *$+er *$u"d !e

uni/$rm $r !ased $n desinati$nran1 $r a mu"tip"e $/ sa"ar). 'he !ene/it

under the p$"i*) is paid t$ the !ene/i*iar) n$minated !) the mem!er $n

hisher death.

44

8/13/2019 20704637 Report on Ulip


-&e?!4&e R!+er O%t!s

I&I&I Pru Li/e $//ers /"e2i!"e riders, whi*h *an !e added t$ the !asi*

p$"i*)

at a marina" *$st, dependin $n the spe*i/i* needs $/ the *ust$mer.

A99!+et = +!sa4!&!t# 4ee'!t I/ death $**urs as the resu"t $/ an a**ident

durin the term $/ the p$"i*), the !ene/i*iar) re*ei+es an additi$na"

am$unt e>ua" t$ the rider sum assured under the p$"i*). I/ an a**ident

resu"ts in t$ta" and permanent disa!i"it), %CF $/ rider sum assured wi"" !e

paid ea*h )ear, /r$m the end $/ the %st )ear a/ter the disa!i"it) date /$r the

remainder $/ the !ase p$"i*) term $r %C )ears, whi*he+er is "esser. I/ the

death $**urs whi"e tra+e"in in an auth$ri3ed mass transp$rt +ehi*"e, the

!ene/i*iar) wi"" !e entit"ed t$ twi*e the sum assured as additi$na" !ene/it.

Cr!t!9a& I&&ess .ee'!t pr$te*ts the insured aainst /inan*ia" "$ss in the

e+ent $/ spe*i/ied *riti*a" i""nesses. Bene/its are pa)a!"e t$ the insured

/$r medi*a" e2penses pri$r t$ death.

Wa!"er ' Pre!u In *ase $/ t$ta" and permanent disa!i"it) due t$ an

a**ident, the /uture premiums *$ntinue t$ !e paid !) the *$mpan) ti"" thetime $/ maturit). 'his rider is a+ai"a!"e with Li/e'ime Super Li/e'ime

Super Pensi$n and &ashP"us.

Maa,eet h!erar9h#

MD=C8E8O (Ms8S5IK5A S5ARMA)

4;

8/13/2019 20704637 Report on Ulip


EHECUTIVE DIRECTOR(Mr8.5AR7AV DAS 7UPTA)

5EAD O- SALES$ 5IMALAYAN(Mr8 AMIT PALTA)

VISE PRESIDENT(Mr8SANTOS5 C5ACKO)

ASSOSIATE RE7IONAL MANA7ER(Mr85EMANT SIKKA)

AREA MANA7ER(Mr8A6AY NE.)

SALES MANA7ER(Mr8 SUNIL .5ATIA)

A7ENCY MANA7ER(Mr8 KAPIL C5AWLA)

UNIT MANA7ER

ADVISIORS

VISION

'$ ma1e I&I&I Prudentia" the d$minant "i/e, hea"th and Pensi$ns

p"a)er !ui"t $n trust !) w$r"d Q*"ass pe$p"e and ser+i*e.

'his we h$pe t$ a*hie+e !)

•

Understandin the needs $/ *ust$mers and $//erin them superi$r pr$du*ts and ser+i*e

4=

8/13/2019 20704637 Report on Ulip


• Le+erain te*hn$"$) t$ ser+i*e *ust$mers >ui*1"), e//i*ient") and

*$n+enient").

• De+e"$pin and imp"ementin superi$r ris1 manaement and

in+estment strateies t$ $//er sustaina!"e and sta!"e returns t$ $ur

p$"i*)h$"ders.

• Pr$+idin an ena!"in en+ir$nment t$ /$ster r$wth and "earnin /$r

$ur emp"$)ees.

And a!$+e a"", !ui"din transparen*) in a"" $ur dea"ins.

'he su**ess $/ the *$mpan) wi"" !e /$unded in its un/"in*hin

*$mmitment t$ ; *$re +a"ues8 interit), *ust$mer /irst, B$undar) "ess,

Ownership and passi$n. Ea*h $/ the +a"ues des*ri!es what the *$mpan)

stands /$r the >ua"ities $/ $ur pe$p"e and the wa) we w$r1.

(e d$ !e"ie+e that we are $n the thresh$"d $/ an e2*itin new

$pp$rtunit), where we *an p"a) a sini/i*ant r$"e in rede/inin and

reshapin the se*t$r. Gi+en the >ua"it) $/ $ur parentae and the

*$mmitment $/ $ur team, there are n$ "imits t$ $ur r$wth.

SWOT ANALYSIS O- ICICI PRUDENTIAL

4?

8/13/2019 20704637 Report on Ulip


Stre,ths

• I&I&I Prudentia" is the "arest pri+ate p"a)er in the insuran*e

industr) in INDIA , with a mar1et share $/ ar$und -F am$nst

the pri+ate p"a)ers.

• It re*ei+ed !est pr$du*ts inn$+ati$n award /r$m Asian !an1er in

CC%.

• Kast untapped mar1et. In a *$untr) $/ % !i""i$n pe$p"e there is hue

p$tentia" mar1et /$r "i/e insuran*e pr$du*ts.

• 'here is a hue p$$" $/ s1i""ed pr$/essi$na"s t$ *arr) $ut the

su**ess/u" +entures.

• I&I&I Prudentia" is $ne $/ India’s "eadin /inan*ia" instituti$ns.

• O//erin a *$mp"ete /inan*ia" s$"uti$n that en*$mpasses e+er)

sphere $/ "i/e.

• 7r$m *$mmer*ia" !an1in

'$ st$*1 !r$1in

'$ mutua" /unds

'$ "i/e insuran*e

'$ in+estment !an1in,

'he r$up *aters t$ the /inan*ia" needs $/ indi+idua"s and

&$rp$rate.

• I&I&I prudentia" is the /irst *$mpan), whi*h $t "i*ense $/

insuran*e tradin /r$m I.R.D.A. Insuran*e Reu"at$r) 9

De+e"$pment Auth$rit)#

• I&I&I Prudentia" is "eadin in se*urities.

4@

8/13/2019 20704637 Report on Ulip


• 'he *$mpan) has a netw$r1 in ?4 *ities in India and $//i*es in

New8$r1, L$nd$n and Du!ai.

• 'he r$up ser+i*es a *ust$mer !ase $/ $+er .? mi""i$n.

Weakesses

• 'h$uh there is a hue mar1et /$r insuran*e p$"i*es, the midd"e

*"ass wh$ *$nstitutes !u"1 $/ this mar1et is !urdened with

in/"ati$nar) pressure and there/$re is n$t a!"e t$ sa+e /$r /uture.

• Less p$pu"arit) $/ I&I&I Prudentia" in +i""aers.

• M$st $/ the pe$p"e ha+e /aith $n LI& as it is a G$+t. Orani3ati$n.

O%%rtu!t!es

• Out $/ -C mi""i$n insura!"e mar1et $n") CF $/ p$pu"ati$n is

insured.

• 'he I&I&I Prudentia" r$up is $in t$ $pen %CC !ran*hes $/ I&I&I

Prudentia" in *$min 48; )ears.

• 'he insuran*e se*t$r is r$win s$ there is $pp$rtunit) /$r !usiness

r$wth.

4

8/13/2019 20704637 Report on Ulip


• Unemp"$)ment is t$da) a !i pr$!"em in $ur *$untr) there/$re

pe$p"e wh$ ha+e the p$tentia" sh$u"d !e en*$uraed t$ enter in t$

this se*t$r.

Threats

• &$mpetiti$n is r$win as new entrants are *$min in insuran*e

se*t$r .

• Main threat is :&OMPE'I'ORS<.

LE7ISLATIVE AND RE7ULATORY MATTERS

Isura9e se9tr re'rs

5a+in "$$1ed at the insuran*e se*t$r, "et us "$$1 "a the a//e*ts made !)

the $+t.t$ ma1e the industr) m$re d)nami* and *ust$mer /riend"). '$

!ein with, the Ma"h$tra *$mmittee was set up with the $!0e*ti+e $/

suestin *hanes that w$u"d a*hie+e the mu*h re>uired d)namism.

Stru9ture

;C

8/13/2019 20704637 Report on Ulip


• G$+ernment sta1e in the insuran*e &$mpanies t$ !e !r$uht d$wn

t$;CF

• G$+ernment sh$u"d ta1e $+er the h$"dins $/ GI& and its

su!sidiaries s$ that these su!sidiaries *an a*t as independent

*$rp$rati$ns.

• A"" the insuran*e *$mpanies sh$u"d !e i+en reater /reed$m t$

$perate.

• Pri+ate &$mpanies with a minimum paid up *apita" $/ Rs. %!n

sh$u"d !e a""$wed t$ enter the industr).

• N$ &$mpan) sh$u"d dea" in !$th Li/e and Genera" Insuran*e

thr$uh sin"e entit).

• 7$rein *$mpanies ma) !e a""$wed t$ enter the industr) in

*$""a!$rati$n with the d$mesti* *$mpanies.

• P$sta" Li/e Insuran*e sh$u"d !e a""$wed t$ $perate in the rura"

mar1et.

• On") $ne State Le+e" Li/e Insuran*e &$mpan) sh$u"d !e a""$wed

t$ $perate in ea*h state.

I"estets

• Mandat$r) In+estments $/ LI& Li/e 7und in $+ernment se*urities

t$

!e redu*ed /r$m ?;F t$ ;CF

• GI& and its su!sidiaries are n$t t$ h$"d m$re than ;F in an)

*$mpan)

'here *urrent h$"dins t$ !e !r$uht d$wn t$ this "e+e" $+er a

;%

8/13/2019 20704637 Report on Ulip


peri$d$/time#.

Custer Ser"!9e

• LI& sh$u"d pa) interest $n de"a)s in pa)ments !e)$nd -C da)s.

• Insuran*e *$mpanies must !e en*$uraed t$ set up Unit Lin1ed

pensi$n p"ans.

• &$mputeri3ati$n $/ $perati$ns and updatin $/ te*hn$"$) t$ !e

*arried $ut in the Insuran*e Industr).

'he *$mmittee /e"t the need t$ pr$+ide reater aut$n$m) t$ insuran*e

*$mpanies in $rder t$ impr$+e their per/$rman*e and ena!"e them t$ a*t

as independent *$mpanies with e*$n$mi* m$ti+es. 7$r this purp$se, it

had pr$p$sed settin up an independent reu"at$r) !$d).

.us!ess Re*u!reets -r A Isura9e C%a#

An Indian *$mpan) wi"" n$t !e issued a "i*ense under the a*t, un"ess the

IRDA is satis/ied with the s$und /inan*ia" *$nditi$n and the enera"

*hara*ter $/ manaement, the +$"ume $/ !usiness, the *apita" stru*ture,

earnin pr$spe*ts $/ the insurers and that the interests $/ the enera"

pu!"i* wi"" !e ser+ed i/ the *erti/i*ate $/ reistrati$n is ranted t$ the

insurer. 7$rein insuran*e *$mpanies ha+e !een a""$wed t$ enter this

industr), !ut the) *an d$ s$ $n") with an Indian partner su!0e*t t$ a

ma2imum $/ =F share h$"din.

;

8/13/2019 20704637 Report on Ulip


N$ "i/e insuran*e *$mpan) a/ter the A*t *an !e reistered un"ess the)

ha+e a paid8up *apita" $/ rupees %CC *r$res. E+er) insurer sha"" in respe*t

$/ the "i/e insuran*e !usiness *arried $n !) him in India, dep$sited with

the Reser+e Ban1 O/ India:RBI<# a sum e>ui+a"ent t$ $ne per*ent $/ the

t$ta" r$ss premium written in India in an) /inan*ia" )ear, n$t e2*eedin

rupees ten *r$ws. 'his am$unt w$u"d n$t !e sus*epti!"e t$ an)

assinment $r *hare n$r w$u"d it !e a+ai"a!"e /$r the dis*hare $/ an)

"ia!i"ities $/ the insurer $ther than "ia!i"ities arisin $ut $/ p$"i*ies $/

insuran*e issued !) the insurer, s$ "$n as an) su*h "ia!i"ities remain

dis*hared.

I"estet O' Assets

E+er) insurer is re>uired t$ in+est, and at a"" times 1eep in+ested, assets

e>ui+a"ent t$ n$t "ess than the net "ia!i"ities as /$""$ws

• ;F in $+ernment se*urities.

• A /urther sum e>ua" t$ n$t "ess than ;F $/ the said sum in

$+ernment se*urities $r $ther appr$+ed se*urities 9

• 'he !a"an*e in an) $/ the appr$+ed in+estment rated as :Ker)

Str$n<

$r m$re !) reputed independent ratin aen*ies, whi*h in*"ude

%. Se*ured L$ans

. Dep$sits

-. De!entures

4. &$mmer*ia" Papers

;-

8/13/2019 20704637 Report on Ulip


;. B$nds, De!t Instruments, Shares 9 Pre/eren*e Shares.

-urther

E+er) insurer is re>uired t$ maintain, at a"" times an e2*ess $/ the +a"ue

$/ his assets $+er the am$unt $/ his "ia!i"ities $/ n$t "ess than

• ;C *r$res $/ rupees in *ase $/ an insurer *arr)in $/ Li/e Insuran*e

Business.

• ;C *r$res $/ rupees, a sum e>ui+a"ent t$ ;F $/ net premium

in*$me

$r a sum e>ui+a"ent t$ -CF $/ net in*urred *"aims in the *ase $/

insurers *arr)in $n enera" insuran*e.

Ta? As%e9t

Se*ti$n @@* # this se*ti$n $/ the in*$me ta2 a*t pr$+ides re!ate $n the

t$ta" ta2 "ia!i"it) $/ the indi+idua"s. A**$rdin t$ this se*ti$n,

in+estments in PP7, P7, NS&, p$st $//i*e, sa+in mutua" /unds

premium paid /$r the "i/e insuran*e pr$du*ts, U'I8ULIP pr$+ides an

indi+idua" ta2 re!ate.

;4

8/13/2019 20704637 Report on Ulip


In+estment *an !e made in an) $ne $/ the instruments $/ a mi2 $/ the

instruments su!0e*t ma2imum "imit $/ Rs.%CCCCC

Se*ti$n @C D a""$ws *$ntri!uti$n up t$ rs %CCCC !) wa) $/ premium

/$r insuran*e $n the hea"th $/ the indi+idua", his sp$use $/ an) $ther

mem!er . Dedu*ti$n is a""$wed up t$ rs.%;CCC i/ the insured is a seni$r

*iti3en. Premium has t$ !e paid !) *he>ue.

Se*ti$n %C %C d# $/ the in*$me ta2 a*t, %=% dea"s with in*$me n$t t$

!e in*"uded t$ t$ta" in*$me with respe*t t$ the ta2a!i"it) $/ su*h

re*eipts /r$m "i/e insuran*e p$"i*ies. Se*ti$n %C %C d# pr$+ides an)

sum re*ei+ed under a "i/e insuran*e p$"i*) in*"udin the sum a""$*ated

!) wa) $/ !$nus $n su*h a p$"i*) $ther than

a# an) sum re*ei+ed under a 1e)man insuran*e p$"i*) $r

!# an) sum re*ei+ed under an insuran*e p$"i*) issued $n $r a/ter

the %st da) $/ Apri",CC- in respe*t $/ whi*h the premium pa)a!"e /$r

an) $/ the )ear durin the term $/ the p$"i*) e2*eeds CF $/ the

a*tua" *apita" sum assured.

;;

8/13/2019 20704637 Report on Ulip


C5APTER

TOPIC TAKEN IN OR7ANIJATION

C&ass!'!9at! O' L!'e Isura9e Pr+u9ts

;=

8/13/2019 20704637 Report on Ulip


(e *an *"assi/) insuran*e p"an in tw$ *ate$r).

'raditi$na"

ULIP

Tra+!t!a&

Ter Isura9e

Under term insuran*e p"an, sum assured is pa)a!"e $n") i/ death $**urs

durin the spe*i/ied pre8determined term. I/ death d$es n$t ta1e p"a*e

durin su*h term the am$unt $/ premium stands /$r/eited. 'hus it *an !e

seen that the term insuran*e is n$thin !ut the *$st $/ pure pr$te*ti$n. It

is a *$ntra*t, whi*h pr$+ides /inan*ia" pr$te*ti$n i/ death sh$u"d $**ur

within a spe*i/ied peri$d. N$ sur+i+a" !ene/its are pr$+ided under the

*$ntra*t.

Wh&e &!'e !sura9e

(h$"e "i/e insuran*e pr$+ides /$r the pa)ment $/ the /a*e +a"ue up$n the

death $/ the insured, reard"ess $/ when it ma) $**ur. 'his p$"i*)

/urnishes permanent pr$te*ti$n t$ the insured at he m$derate *$st. 'his is

hih") imp$rtant /$r the a+erae man $r w$man $/ m$derate sa"ar), wh$

re>uire *$nsidera!"e /ami") pr$te*ti$n and wh$se "imited in*$me d$es

n$t ena!"e him $r her !$th t$ pa) premiums and t$ a**umu"ate a "are

sa+ins /und. 'he wh$"e "i/e p$"i*) pr$+ides a *apita" sum $/ m$ne) in

the e+ent $/ death $/ the assured whene+er that ma) $**ur.

E+;et P&!9#

;?

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


UNIT LINKED INSURANCE PLAN (ULIP)

Unit "in1ed insuran*e p"an ULIP# is a "i/e insuran*e s$"uti$n that

pr$+ides the *"ient with the !ene/its $/ pr$te*ti$n and /"e2i!i"it) in

in+estment. It is a s$"uti$n whi*h pr$+ides /$r "i/e insuran*e where the

p$"i*) +a"ue at an) time +aries a**$rdin t$ the +a"ue $/ the under")in

assets at the time .

'he in+estment is den$ted as unit and is represented !) the +a"ue that it

has attained *a""ed as Net Asset Va&ue NAK#.

;

8/13/2019 20704637 Report on Ulip


ULIP *ame int$ p"a) in %=Cs and !e*ame +er) p$pu"ar in (estern

Eur$pe and Ameri*a. 'he reas$n that is attri!uted t$ the wide spread

p$pu"arit) $/ ULIP is !e*ause $/ the transparen*) and the /"e2i!i"it)

whi*h it $//ers t$ the *"ients .

As time pr$ressed the p"ans were a"s$ su**ess/u"") mapped a"$n with

"i/e insuran*e needs t$ retirement p"annin.

In t$da)’s times ULIP pr$+ides s$"uti$n /$r a"" the needs $/ a *"ient "i1einsuran*e p"annin,/inan*ia" needs,/inan*ia" p"annin /$r *hi"dren’s /uture

and retirement p"annin.

Stru9ture O' U&!%

=C

UNITS

IN

FUNDS

UNDERLYING

INVESTMENT

UNITLINKEDINSURANCEPOLICIES

8/13/2019 20704637 Report on Ulip


.ee'!ts ' u!t &!ke+ %&a

ULIP distinuishes itse"/ thr$uh the mu"tip"e !ene/its that it pr$+ides t$

the *$nsumer. 'he p"an is a $ne st$p s$"uti$n pr$+idin

%. Li/e pr$te*ti$n

. In+estment and Sa+ins

a. Mar1et "in1ed /und !ased $n ris1 pr$/i"e

!. Swit*h $pti$n

*. Premium redire*ti$n

d. Aut$mati* trans/er p"anA'P#

-. 7"e2i!i"it) $/ *$+er *$ntinuan*e

4. 'ransparen*)

=%

PREMIUM

LESS C5AR7E

LI-E

COVER

INVESTMENT

REPRESENTED ASUNITS

8/13/2019 20704637 Report on Ulip


;. E2tra pr$te*ti$n with riders

a. Death due t$ a**ident

!. Disa!i"it)

*. &riti*a" i""ness

=. Li>uidit)

a. Durin the term partia" withdrawa"s

!. At Maturit)

?. 'a2 p"annin

Char,es U+er U&!%

Ctr!4ut! re&ate+ 9har,es

'hese are the *hares that are represented as a per*entae $/ the reu"ar$r sin"e *$ntri!uti$n paid. In *ase $/ a reu"ar *$ntri!uti$n p"an, it is

usua"") hih in the /irst )ear t$ pa) /$r the distri!uti$n *$st. 'his *hares

pa)s /$r the issuan*e and /$r distri!uti$n *$mmissi$ns. 'his *hares are

runnin /$r the p$"i*).

A+!!strat!"e 9har,es

=

8/13/2019 20704637 Report on Ulip


'hese are *hares that are "e+ied /$r the administrati$n $/ the p$"i*) and

the re"ated *$st $/ administrati$n $/ the insuran*e *$mpan),itse"/. 'he)

are m$re re"ated t$ the *$st "i1e I' , $perati$na", et* *$st $/ *$ntinuin the

p$"i*).

-u+ aa,eet 9har,es

'hese are the *hares /$r !u)in and se""in de!t and e>uit). 'hese are

the *hares are ad0usted in NAK it se"/.

Mrta&!t# 9har,es

'his *$+ers the *$st $/ pr$+idin "i/e pr$te*ti$n /$r the insured and ma)

!e paid $n*e at the start $/ the p$"i*) /$r a re*urrent manner /$r e2amp"e

this *hares "e+ied t$ pr$+ide the insuran*e *$+er under the p"an .

n$rma"") these *hares are $ne )ear *hares as per the ae $/ the h$"der.

R!+er 9har,es

Rider *hares are simi"ar in nature t$ the m$rta"it) *hares as the) are"e+ied t$ pa) /$r the $ther pr$te*ti$n !ene/its that the p$"i*) h$"der has

*h$$sen /$r8 "i1e the *riti*a" i""ness !ene/it $r the a**ident !ene/it,et*.

Surre+er 9har,es

(hen the p$"i*) h$"der de*ides t$ surrender the p$"i*) $r partia"")

withdraw s$me $/ the units /$r *ash , a surrender *hare ma) !e app").

=-

8/13/2019 20704637 Report on Ulip


Surrender *hares are used t$ *$+er initia" e2penses that ha+e !een

in*urred !) the *$mpan) !ut n$t )et re*$+ered /r$m the p$"i*)h$"der )et.

.!+ ''er 9har,es

In ULIP spe*i/i*a"") *ertain insurers miht *reate a di//eren*e in the pri*e

at whi*h the) se"" the unit and the pri*e at whi*h the) !u) the units.

In+est$r’s *$ntri!uti$n are used t$ !u) units in the in+estment /und at the

$//er pri*e and are s$"d when !ene/its are re>uired at the !id pri*e. 'he

di//eren*e !etween the $//er and !id pri*es Is 1n$wn as the :!id8$//er

spread, this is used t$ *$+er e2penses when settin up the p$"i*).

Trasa9t!a& s%e9!'!9 9har,es

'hese *hares are "e+ied when the *"ient d$es s$me spe*i/i* transa*ti$n

"i1e *hanin /unds, t$ppin up the in+estment *$mp$nent $r

withdrawa"s .

I"estet O%t! -r Yur Me#

Ma?!!ser I/ hih r$wth is )$ur pri$rit), this is the p"an /$r )$u. $u*an en0$) "$n8term *apita" appre*iati$n /r$m a p$rt/$"i$ that is in+ested

primari") in e>uit) and e>uit)8re"ated se*urities

Prte9tr 8 I/ $n the $ther hand, )$ur pri$rit) is stead) returns, )$u *an

$pt /$r the pr$te*t$r P"an. P"an, )$u *an a**umu"ate a stead) in*$me at a

"$w ris1 a*r$ss a medium t$ "$n8term peri$d /r$m a p$rt/$"i$, whi*h is

primari") in+ested in /i2ed in*$me se*urities.

=4

8/13/2019 20704637 Report on Ulip


.a&a9er8I/ )$u pre/er a !a"an*e $/ r$wth and stead) returns, *h$$se

$ur !a"an*er p"an. 'his w$u"d ensure that )$ur p$rt/$"i$ is in+ested in

e>uit)8"in1ed se*urities, as we"" as in /i2ed in*$me se*urities.

Preser"er 'he $!0e*ti+e $/ this p"an is n$t ensurin *apita" pr$te*ti$n !)

in+estin in +er) "$w ris1 in+estments "i1e the *ash and *a"" m$ne)

mar1ets. 5$we+er, the returns enerated ma) a"s$ !e $n the "$wer side

due t$ the in+estment pattern. At in*epti$n, in+estments up t$ CF *an !e

a""$*ated t$ this /und.

-UND TYPE ASSET MIH

POTENTIAL

RISK

>REWARD

Ma2i miser

E>uit)9 Re"ated

se*urities Ma2 %CCF

De!t, M$ne) mar1et 9

&ash Ma2 ;F

5ih

=;

MAHI

MISER

.ALAN

CER

PROTE

CTOR

PRESE

RVER

8/13/2019 20704637 Report on Ulip


Ba"an*er

De!t. M$ne) mar1et 9

&ash

Min =CF

E>uit) 9 Re"ated

se*urities Ma2 4CF

M$derate

Pr$te*t$r

De!t Instruments,

M$ne) mar1et 9 &ash

Ma2 %CCF

L$w

Preser+er

De!t Instruments Ma2

;CF

M$ne) mar1et 9 &ash

Min ;CF

&apita"

preser+ati$n

Autat!9 Tras'er P&a

==

@00

PROTEC

TOR

0

MAHIMIS

ER

@811

PROTEC

TOR

38

MAHIMIS

ER

38

8/13/2019 20704637 Report on Ulip


7unds w$u"d et trans/erred aut$mati*a"") a /i2ed date e+er)

m$nth @st r @th # /r$m pr$te*t$r t$ ma2imiser.

$u *an either *h$$se a /i2ed am$unt $r a /i2ed per*entae.

Minimum A'P is Rs.CCC

A'P wi"" *ease i/ the /unds in the pr$te*t$r are insu//i*ient.

E//e*ti+e") this w$r1s "i1e % /ree swit*hes $/ /i2ed insta""ments

$+er and a!$+e the 4 /ree swit*hes.

COMPARISION O- ULIP WIT5 TRADITIONAL PLAN

U!t L!ke+ Isura9e Pr+u9t

ULIPs ha+e ained hih a**eptan*e due t$ attra*ti+e /eatures the) $//er.'hese in*"ude

7"e2i!i"it)

o 7"e2i!i"it) t$ *h$$se Sum Assured.

o 7"e2i!i"it) t$ *h$$se premium am$unt.

o Opti$n t$ *hane "e+e" $/ Premium Sum Assured e+en a/ter

the p"an has started.

=?

8/13/2019 20704637 Report on Ulip


o 7"e2i!i"it) t$ *hane asset a""$*ati$n !) swit*hin !etween

/unds

'ransparen*)

o &hares in the p"an 9 net am$unt in+ested are 1n$wn t$ the

*ust$mer

o &$n+enien*e $/ tra*1in $ne’s in+estment per/$rman*e $n a

dai") !asis.

Li>uidit)

o Opti$n t$ withdraw m$ne) a/ter /ew )ears *$m/$rt re>uired

in *ase $/ e2ien*)#

o L$w minimum tenure.

o Partia" S)stemati* withdrawa" a""$wed

7und Opti$ns

o A *h$i*e $/ /unds ranin /r$m e>uit), de!t, *ash $r a

*$m!inati$n#

o Opti$n t$ *h$$se )$ur /und mi2 !ased $n desired asset

a""$*ati$n

Tra+!t!a& P&as

'hese are the $"dest t)pes $/ p"ans a+ai"a!"e. 'hese p"ans *ater t$

*ust$mers with a "$w ris1 appetite. S$me $/ the *$mm$n /eatures

$/ traditi$na" p"ans are

Stead) In+estment

o Ma0$r *hun1 $/ in+esti!"e /unds are in de!t instruments

o Stead) and a"m$st assured returns $+er the "$n term

=@

8/13/2019 20704637 Report on Ulip


7eatures

o Death !ene/it is Sum Assured uaranteed 9 +ested !$nus

o 5e"ps in asset *reati$n as the) are /$r a "$n tenure

o Premium t$ Sum Assured rati$s are /i2ed /$r ea*h p"an and

ae.

o Genera"") withdrawa"s are n$t a""$wed !e/$re maturit).

P!t ' +!''ere9e ULIPTra+!t!a&

P&!9#

In+estment

Mar1et re"ated Ma)

!e st$*1 mar1et $r

de!t mar1et#

IRDA

Determined

in+estments

'ransparen*) in *$sts es N$

7"e2i!i"it) in pa)ment es N$Assured B$nus N$ es

Assured Sum $n sur+i+a" N$ es

Opti$n t$ in*rease

in+estmentpremiumes N$

ULIPs 4etter tra+!t!a& %&!9!es

Unti" a *$up"e $/ )ears a$, when ULIPs were a rare *$mm$dit), n$!$d)

1new h$w "i/e insuran*e *$mpanies *hared p$"i*)h$"ders /$r e2penses.

And n$!$d) seemed t$ want t$ 1n$w either. 'hen *ame the ULIPs with

$$d intenti$ns t$ ma1e p$"i*)h$"ders aware $/ h$w mu*h the) w$u"d

pa) as e2penses. But that m$+e !a*1/ired. P$"i*)h$"ders were ta1en

a!a*1 !) the hih am$unt $/ /ees that ULIPs *hared.

=

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


• Di//erent $pti$ns are a+ai"a!"e, "i1e %CCF E>uit), Ba"an*ed, De!t,

Li>uid et* and a**$rdin t$ the /und se"e*ted, the ris1s and returns

+ar).

• 'he *$sts are up/r$nt and are transparent, the in+estment made is

1n$wn t$ the in+est$r As he is the $ne wh$ de*ides where his

m$ne) sh$u"d !e in+ested#.

• 'here is a reater /"e2i!i"it) in terms $/ premium pa)ments ie. A

premium h$"ida) is p$ssi!"e.

• $u *an a"s$ in+est surp"us m$ne) !) wa) $/ t$p ups whi*h wi""

in*rease )$ur in+estment in the /und and there!) pr$+ide a push t$

returns as we"".

• 'here is n$ assured Sum $n sur+i+a", the hiher $/ the Sum

Assured $r 7und Ka"ue is paid at the maturit) $r in*ase $/ death.

-!a9!a& %&a!, a+ ta? %&a!,

A"" $/ us want t$ sa+e /$r a rain) da). (e want $ur m$ne) $r in+estment

t$

?%

8/13/2019 20704637 Report on Ulip


i# Gi+e the !est p$ssi!"e return and

ii# Be a+ai"a!"e t$ us when we re>uire it.

7inan*ia" p"annin ma1es this p$ssi!"e. 7inan*ia" p"annin is an attempt

t$ ma2imi3e returns 1eepin in mind the "i>uidit) and se*urit) $/ $ur

in+estment.

'he three !asi* prin*ip"es uidin /a*t$rs# $/ /inan*ia" p"annin are

• Settin rea"isti* /inan*ia" $a"s

• Startin in+estments ear")

• 'hin1in "$n term whi"e a""$win /$r sh$rt8term needs that ma)

arise.

One p"us "ump sum $/ m$ne) t$

a# Pr$du*e in*$me.

!#In*rease the *apita"

One *an in+est m$ne) $n") when $ne p$ssesses it, whi*h is p$ssi!"e !)

sa+in s)stemati*a""). Se"e*tin a $$d sa+in s*heme *an d$ this.

-eature ' a 7+ Sa"!, P&a

a# Sa/et)

!#7"e2i!i"it)

*# Sh$u"d ha+e in*enti+e t$ sa+e *$ntinu$us") with$ut de/au"t.

d#'a2 sa+in

?

8/13/2019 20704637 Report on Ulip


e# Sh$u"d /u"/i"" /inan*ia" $!0e*ti+e e+en in *ase $/ death.

-eatures ' a !+ea& I"estet S9hee

a# Sa/et)

!# Li>uidit)

*# 5iher ie"d

d# &apita" r$wth

e# 'a2 sa+in

Sa'et# re/ers t$ /inan*ia" s$undness $/ in+estment.

L!*u!+!t# means >ui*1ness with whi*h an assets *an !e *$n+erted int$

*ash whene+er re>uired.

Y!e&+ is the am$unt $/ m$ne) that an in+estment is e2pe*ted t$ earn.

Simi"ar") an in*rease de*rease in the ta2 rate a"s$ a//e*ts $ur return $n

in+estments. An) return, whi*h is n$t ta2a!"e, wi"" !e pre/erred t$ th$se

$n whi*h ta2es ha+e t$ !e paid.

A $$d in+estment is that whi*h earns de*ent returns a/ter pr$+idin /$r

ta2es and in/"ati$n.5$we+er, there is n$ sin"e w$nder in+estment, whi*h *an ha+e a"" the

a!$+e /eatures. One *an’t ha+e wind/a"" ains $/ st$*1 mar1et with the

sa/et) $/ G$+ernment se*urities $r the "i/e *$+er and ta2 *$n*essi$ns $/

"i/e insuran*e, a"" in $ne.

A prudent pers$n sh$u"d "$$1 /$r th$se in+estments, whi*h $//er the idea"

s$"uti$n t$ his pers$na" needs under his $wn set $/ *ir*umstan*es.

?-

8/13/2019 20704637 Report on Ulip


5!,h Returs a+ .est Returs

i# 'hese are n$t ne*essari") the same.

ii# 5ih returns ma) !e $//set !) ris1 t$ *apita".

iii# Best returns sh$u"d !e determined !) the ad+antae an in+estment

$//ers.

The I"estrs A%%ra9h

In+est$r’s appr$a*h *an !e *$nser+ati+e sa/et) is $/ utm$st imp$rtan*e#,

enterprisin wi""in t$ ta1e s$me ris1s# $r spe*u"ati+e wi""in t$ ta1e

hih ris1 in $rder t$ ain hih returns#. 'he in+est$r’s appr$a*h is re"ated

t$ a h$st $/ pers$na" /a*t$rs su*h as

a# Ae and /ami")

!# 7uture resp$nsi!i"ities

Ta? .ee'!ts U+er L!'e Isura9e P&!9!es

Tua"i/)in premium am$unt 8

a# Premiums paid t$ e//e*t $r 1eep in /$r*e an insuran*e p$"i*) $n the

"i/e $/ • 'he assessee $r

• 'he sp$use $/ the assessee $r

• An) *hi"d min$r $r ma0$r# $/ the assesseeirrespe*ti+e $/ the status

$/ the *hi"d.

!#Premiums paid t$ e//e*t $r 1eep in /$r*e a *$ntra*t /$r a de/erred

annuit) $n the "i/e $/

?4

8/13/2019 20704637 Report on Ulip


• 'he assessee $r

• 'he sp$use$/ the assessee $r

• An) *hi"dmin$r $r ma0$r# $/ the assessee pr$+ided that su*h

*$ntra*t , d$esn$t *$ntain a pr$+isi$n /$r e2er*ise !) the assured $/

an $pti$n t$ re*ei+e a *ash pa)ment in "ieu $/ the annuit).

Ta? re!e' 'r sa"!,s thru,h &!'e !sura9e

• An areate am$unt $/ sa+ins in*"udin th$se paid t$wards "i/e

insuran*e premium up t$ Rs. % "a1h n$t t$ !e in*"uded in the

in*$me "ia!"e /$r ta2.

• Premiums paid under an appr$+ed pensi$n p"an upt$ Rs. %C,CCC8

per )ear $/ +ari$us insuran*e *$mpanies are dedu*ti!"e /r$m the

t$ta" in*$me upt$ a ma2imum Rs. %C,CCC8 under se*ti$n @C &&&.

• 'he am$unts re*ei+ed as *"aims Q whether $n maturit) $r death Q

in*"udin the am$unt $/ the !$nus, i/ an), are n$t ta2a!"e, !ein

*apita" re*ipt under se*ti$n %CD#

What makes ULIPs a total f!a!"al #la!!!$ #a"ka$e%

• Pot!t"#$ o& S'(&"o& &t'&!) *+ ),"t-."!/ *t,! E0'"t+

D*t

•

A!+t"2 L"0'"3"t+• No Lo!/ T&2 Co22"t2!t)

?;

8/13/2019 20704637 Report on Ulip


• F$4"*$ I!)'&#!- Co5&

• 166% T#4 F& Rt'&!) o! W"t.3&#,#$) M#t'&"t+

?=

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


time

"ess

than %

)ear

L!'e T!e Su%er

It is ne*essar) that we understand a /ew terms !e/$re "$$1 in t$ the

+ari$us /inan*ia" p"annin wa)s.

Sa"e this is an a*ti+it) that he"ps in the :asset a""$*ati$n<. It has !$th a

sh$rt term 9 "$n term perspe*ti+e.

I"est this is an a*ti+it) that /$*uses :asset *reati$n<. It in+$"+es ma1in

m$ne) /r$m m$ne).

S%e+ this is the a*ti+it) $/ usin the m$ne) /$r $ur e2penses.

?@

8/13/2019 20704637 Report on Ulip


5; L!'e T!e Su%er Pr"!+es Asset P%rte9t!$ Asset Creat!$

Asset A99uu&at!

-&e?!4&e %&!9# ter De*ide /$r h$w "$n )$u want )$ur p$"i*). $u

*an in+est /$r a minimum $/ %C )ears and a ma2imum $/ ?; )ears.

9h!9es ' %re!u %a#et Opt t$ pa) the premium $n a m$nth"),

!i8annua" $r an annua" !asis.

1 !"estet 'u+s Se"e*t am$n 7"e2i8Gr$wth, Ma2imiser, 7"e2i8

Ba"an*ed, Ba"an*er, Pr$te*t$r, and Preser+er, !ased $n )$ur /inan*ia"

$a"s and ris1 pr$/i"e.

?

SAVE

INVEST

SPEND

ASSETACCUMUL

ATION

ASSETCREATIO

N

ASSETPROTECTI

ON

8/13/2019 20704637 Report on Ulip


S#steat!9 ;!th+ra;a& ' e# (ithdraw m$ne) in insta""ments

/r$m the 4th )ear $nwards.

Matur!t# 4ee'!t Re*ei+e the 7und Ka"ue when )$ur p$"i*) matures.

&h$$se t$ ta1e this +a"ue as a sin"e "ump8sum am$unt $r in m$nth"), !i8

annua" $r annua" insta""ments.

Death 4ee'!t $ur /ami") re*ei+es the hiher $/ 7und Ka"ue $r Sum

Assured sh$u"d s$methin happen t$ )$u.

S;!t9h 4ee'!t Swit*h !etween /unds an)time t$ ad0ust )$ur p$rt/$"i$,

!ased $n )$ur $a"s and ris1 pr$/i"es. $u *an swit*h /unds 4 times a

)ear, at n$ *$st. 7$r su!se>uent swit*hes, )$u wi"" !e re>uired t$ pa) a

swit*h /ee $/ Rs. %CC

.

L!'e t!e su%er at ,&a9e

MinimumMa2imum Entr) Ae C )ears t$ =; )ears

@C

8/13/2019 20704637 Report on Ulip


Ma2imum Ae at P$"i*) Maturit) ?; )ears

MinimumMa2imum P$"i*) 'erm %C )ears t$ ?; )ears

Premium Pa)ment 7re>uen*) M$nth"), ha"/8)ear"), )ear")

Minimum Premium Rs. %@,CCC per annum

Minimum Sum Assured

Annua" Premium 2 'erm.

Su!0e*t t$ a minimum $/ Rs.%,CC,CCC

'a2 Bene/it @#

Premium paid /$r the p$"i*) and

*riti*a" i""ness !ene/it rider wi""

!e e"ii!"e /$r ta2 !ene/it under

Se*. @C& and @CD respe*ti+e").

An) am$unt paid t$ )$u wi"" !e

e"ii!"e /$r ta2 !ene/its under

Se*. %C %CD# as per pre+ai"in

In*$me 'a2 "aws.

Wh# &!'e t!e su%er

As an indi+idua" wh$ desires a "$t /r$m "i/e8a *ar, a !eauti/u" h$me and $/

*$urse, the *$m/$rt and *$ntentment $/ )$ur /ami")8)$u w$u"d

und$u!ted") want t$ p"an )$ur /inan*es su*h that )$u *an ta1e *are $/ a""

)$ur re>uirements.

@%

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


Pr$te*t$r Preser+er &$nser+ati+e 7und

'$p8ups N$t A""$wed *urrent") A""$wed

Swit*hes

4 swit*hes /ree in a p$"i*)

)ear. Min amt. Rs.CCC

swit*hes /ree in a

p$"i*) )ear

Partia" (ithdrawa"s

A""$wed a/ter *$mp"eti$n

/$ - p$"i*) )ears. Min

Am$unt is Rs.CCC

A""$wed a/ter

*$mp"eti$n /$ -

p$"i*) )ears.

Additi$na"

A""$*ati$n $/

UnitsB$nus units#

E+er) 4 th )ear, startin at

the end $/ 4th )ear 4F

$/ Annua" Premium

In the "ast p$"i*)

)ear , "$)a"t) units

wi"" !e added e>ua"

t$ .;F $/ annua"

taret premium

mu"tip"ied !) the

p$"i*) term, !ut n$t

e2*eedin $ne

annua" taret

premium.

S%e9!a& C+!t!s

I/ An)# N$ne

Redire*ti$n $/

Premium

Surre+er Va&ues

At end $/ )ear %#At end $/ )ear # @F

At end $/ )ear -# F

At end $/ )ear 4# %CCF

At end $/ )ear ;#

R!+ers ADBR,&IBR,(OPR

Pers$na" A**ident

Bene/it Rider,

Dread Disease

Rider Sett&eet Per!+ A+ai"a!"e. Upt$ a peri$d N$t A+ai"a!"e

@-

8/13/2019 20704637 Report on Ulip


O%t!s $/ ; )ears

Autat!9

Tras'er P&a A+ai"a!"e N$t A+ai"a!"e

.u+ar#

C+!t!s

Min Ae at Entr) C %

Ma2 Ae at Entr) =; =C

Ma2 Ae at

maturit) ?; ?C )ears

MinMa2 Sum

Assured

'ermVAP , su!0e*t t$ a

min $/ Rs.%,CC,CCC Min Rs. %CC,CCC

In*reaseDe*rease

in Annua" Premium N$t A""$wed In*rease a""$wed

In*reaseDe*rease

in 'erm N$t A""$wed N$t A""$wed

In*reaseDe*rease

in Sum Assured In*rease a""$wed N$t A""$wed De*rease N$t A""$wed

Char,esPre!u A&&9at!

Char,es L!'eT!e Su%er

L!'eMaker

P&a

ear %

%@CCC84 CF,

;CCCC 9 a!$+e %@F C.?;F

ear ?.;F C.@CF

r - $nwards 4F %F

-u+ Maa,eet

Char,es

@4

8/13/2019 20704637 Report on Ulip


7"e2i Gr$wth Ma2imiser

8 .;F, 7"e2i Ba"an*ed

Ba"an*er 8 .;F,

Pr$te*t$r8 %.;F 9

Preser+er 8 C.?;F

Karies /r$m

C.C F t$

%.; F

P&!9# A+!!strat!

Char,e N$ &hare

Rs ;C per

m$nth

T%2u% Char,e N.A

S;!t9h!, Char,e

Rs. %CC /$r su!se>uent

swit*h $+er 4 swit*hes in a

p$"i*) )ear

Rs. %CC /$r

su!se>uent

swit*h $+er

swit*hes in a

p$"i*) )ear

Part!a& W!th+ra;a&

Char,e N$ *hare

C.; F $/ the

withdraw amt

M!s9e&&aeus Char,e N$ne

A $ne8time

*hare

pa)a!"e at the

in*epti$n $/

the p$"i*) $/

Rs. ?CC

@;

8/13/2019 20704637 Report on Ulip


-eatures L!'eT!e Su%er

Re&a!9e Market

Retur P&a

Pre!u Pa#

-re*ue9# Reu"ar Premium

Reu"ar and Sin"e

Premium

Death .ee'!t

5iher $/ the 7und Ka"ue $r

Sum Assured, redu*ed !) the

app"i*a!"e partia" withdrawa"s

5iher $/ the 7und

Ka"ue $r Sum

Assured,W whi*h

e+er is the hiher

Matur!t# .ee'!t 7und Ka"ue 7und Ka"ue

M!!u

Aua&

Pre!u Rs %@CCC pa

Rs %C,CCC /$r

Reu"ar Premium

and Rs. ;,CCC /$r

Sin"e Premium

M! Ter %C ;Ma? Ter ?; 4C

I"estet

Re&ate+

&h$i*e $/ 7unds

1 -u+s 8 7"e2i Gr$wth,

7"e2i Ba"an*ed, Ma2imiser,

Ba"an*er, Pr$te*t$r, Preser+er

F -u+s &apita"

Se*ure, Ba"an*ed

7u!d, Gr$wth

7und, E>uit) 7und

'$p8ups N$t A""$wed *urrent")

A""$wed. Min '$p

up amt Rs. ;CC

Swit*hes

4 swit*hes /ree in a p$"i*)

)ear. Min Swit*h Amt RS

CCC

% swit*h /ree in a

p$"i*) )ear

Partia"

(ithdrawa"s

A""$wed a/ter *$mp"eti$n /$ -

p$"i*) )ears. Min Am$unt isRs.CCC

Partia" wdrw"

A""$wed a/ter*$mp"eti$n /$ -

@=

8/13/2019 20704637 Report on Ulip


p$"i*) )ears. Min

Am$unt is

Rs.%CCCC

Additi$na"

A""$*ati$n $/

UnitsB$nus

units#

E+er) 4 th )ear, startin at the

end $/ 4th )ear 4F $/

Annua" Premium N$t App"i*a!"e

&$+er

&$ntinuan*e

Opti$ns App"i*a!"e App"i*a!"e

S%e9!a&

C+!t!s

I/ An)# N$ne

Redire*ti$n $/

Premium

Surre+er

Va&ues

At end $/ )ear -# @F %CCF

At end $/ )ear 4# F %CCF

At end $/ )ear ;# %CCF %CCF

At end $/ )ear =# %CCF

At end $/ )ear ?#

R!+ers ADBR,&IBR,(OPR

A**identa" Death

and A**identa"

'$ta" and

Permanent

Disa!"ement

Bene/it

Sett&eet

Per!+ O%t!s

A+ai"a!"e. Upt$ a peri$d $/ ;

)ears

A+ai"a!"e. Upt$ a

peri$d $/ ; )ears

@?

8/13/2019 20704637 Report on Ulip


Autat!9

Tras'er P&a A+ai"a!"e N$t A+ai"a!"e

.u+ar#

C+!t!s

Min Ae at Entr) C C

Ma2 Ae at Entr) =; =;

Min Ae at

maturit)

Ma2 Ae at

maturit) ?; @C

Min Sum

Assured

'ermVAP , su!0e*t t$ a min

$/ Rs.%,CC,CCC

Min 7$r Sin"e

Premium 8%;F $/

SP, 7$r Reu"ar

Annua"i3ed

Premium /$r ;

)ears $r /$r ha"/

the P$"i*) term

In*reaseDe*reasein Annua"

Premium N$t A""$wed N$t A""$wed

In*reaseDe*rease

in 'erm N$t A""$wed N$t A""$wed

In*reaseDe*rease

in Sum Assured In*rease a""$wed In*rease a""$wed

De*rease N$t A""$wed De*rease N$t

@@

8/13/2019 20704637 Report on Ulip


A""$wed

&hares

L!'eT!e Su%er

Re&a!9e Market

Retur P&a

Pre!u

A&&9at!

Char,es

ear %

%@CCC84 CF,

;CCCC 9 a!$+e %@F

7$r ;8 term )r 8 %CF,

%C8%4 term )r8 %;F,

%; )rs 8 CF

ear ?.;F ;F therea/ter

r - $nwards 4F

7$r Sin"e Premium its

F thr$uh$ut

-u+

Maa,eet

Char,es

7"e2i Gr$wth Ma2imiser

8 .;F, 7"e2i Ba"an*ed

Ba"an*er 8 .;F,

Pr$te*t$r8 %.;F 9

Preser+er 8 C.?;F

&apita" Se*ure 8 %.;C

F , Ba"an*ed 7und8

%.;CF, Gr$wth 7und 8

%.?;F , E>uit) 7und8

%.?; F

P&!9#

A+!!strat!

Char,e N$ &hare Rs 4C per m$nth

T%2u% Char,e NA F

S;!t9h!,

Char,e


swit*h $+er 4 swit*hes in


swit*h $+er 4 swit*hes

@

8/13/2019 20704637 Report on Ulip


a p$"i*) )ear in a p$"i*) )ear

Part!a&

W!th+ra;a&

Char,e N$ *hare Rs %CC per withdraw"

M!s9e&&aeus

Char,e N$ne N$ne

C5APTER 1

-INDIN7 AND DATA ANALYSIS

C

8/13/2019 20704637 Report on Ulip


-!+!, a+ +ata aa&#s!s

SAMPLE SIJE

RESPONDEN' &A'OGER NO. O7 PEPOLE

Ser+i*e Man @

Business Man --

Sh$p1eeper %?

5$usewi/e @

Other %4

TOTAL %CC

%

8/13/2019 20704637 Report on Ulip


T %. D$ )$u pa) in*$me ta2

&A'EGOR NO. O7 PEPOLE

ES ?-

NO ?

T. D$ )$u ha+e an) insuran*e p$"i*)

8/13/2019 20704637 Report on Ulip


OPENION NO O7 PEOPLE 'O'AL F

ES %-C @?

NO C %-

NO OF PEOPLE

7%

13%

YES

NO

-

8/13/2019 20704637 Report on Ulip


T-. (hi*h *$mpan)’s p$"i*) )$u are ha+in

COMPANIES PEOPLE

LIC / 1@

ICICI @/ 3

5D-C @0

OT5ER @1 @@

NON POLICY

5OLDER

/0 @

4

8/13/2019 20704637 Report on Ulip


PEOPLE

81%

%

7%

11%

13%LIC

ICICI

HDFC

OTHER

NON POLICY HOLDER

T.4 D$ )$u 1n$w a!$ut the I&I&IPRU

CATE7ORIES NO8 O- PEPOLE

YES @? ;@

NO =- 4

;

8/13/2019 20704637 Report on Ulip


NO OF PEPOLE

:%

;2%

YES

NO

T;. 5$w did )$u *$me t$ 1n$w a!$ut the *$mpan).

=

8/13/2019 20704637 Report on Ulip



ADVERTISEMENT F0

WORD O- MOUT5 FF /

YOUR .ANK @@

INSURANCE

A7ENT

1 /F

NO OF PEPOLE

;6%

29%

7%

2;%

AD<ERTISEMENT

WORD OF MOUTH

YOUR BANK

INSURANCE AGENT

?

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


T? Are )$u satis/ied with )$ur In+estment

CATE7ORIES NO8 O- PEOPLE

SATIS-IED 3 1

UNSATIS-IED F @

NO POLICY

5OLDER

/0 @

8/13/2019 20704637 Report on Ulip


NO OF PEOPLE

:8%31%

13%

SATISFIED

UNSATISFIED

NO POLICY HOLDER

%CC

8/13/2019 20704637 Report on Ulip


T@ Are )$u aware a!$ut the !ene/it and the *$nditi$n a!$ut )$ur p"an


COMPLETE

AWARE

F /

ADEUATE

AWARE

/ @

CON-USE /0 @

LESS KNOWLED7E /3 @

COMPLETE

UNAWARE

/ @

NO POLICY

5OLDER

/0 @

%C%

8/13/2019 20704637 Report on Ulip


NO OF PEPOLE

23%

17%

13%19%

1:%

13% COMPLETE AWARE

ADE=UATE AWARE

CONFUSE

LESS KNOWLEDGE

COMPLETE UNAWARE

NO POLICY HOLDER

T 5$w mu*h return )$u are e2pe*tin /r$m )$ur ULIP

CATE7ORIOES NO O- PEPOLE

@2/ 0 /0

/2 / /@

2F /3 @

MORE T5AN F F0 /

NON POLICY

5OLDER

/0 @

%C

8/13/2019 20704637 Report on Ulip


NO OF PEPOLE

26%

21%

19%

27%

13%1:>2:%

2:>3:%

3:>;:%

MORE THAN ;:%

NON POLICY HOLDER

%C-

8/13/2019 20704637 Report on Ulip


T%C D$ )$u 1n$w a!$ut the "i/e time super in+estment p"an $/

ULIP

CATE7ORIES NO8O- PEPOLE

YES 33

NO 1/ F@

NOOF PEPOLE

:9%

;1%

YES

NO

%C4

8/13/2019 20704637 Report on Ulip


T%%. D$ )$u thin1 "i/e time super in+estment p"an $/ I&I&IPRU is !etter

$ther p"ans


YES F

NO /1

DONT KNOW 1/ F@

%C;

8/13/2019 20704637 Report on Ulip


NOOF PEPOLE

33%

28%

;1%YES

NO

DON?T KNOW

T%. wh) did )$u pur*hase insuran*e p"an


-OR PROTECTION // @

-OR SAVIN7 @ /@

%C=

8/13/2019 20704637 Report on Ulip


-OR INVESTMENT F

-OR TAH SAVIN7 F /

NO OF PEPOLE

1:%

21%

3:%

29%FOR PROTECTION

FOR SA<ING

FOR IN<ESTMENT

FOR TAX SA<ING

T%-. D$ )$u thin1 ULIP is a ris1) in+estment

%C?

8/13/2019 20704637 Report on Ulip



VERY RISKY @ @

MODERATE / @3

SA-E FF F

VERY SA-E /1 /0

NON POLICY

5OLDER

/0 @

NOOF PEPOLE

13%

1%

3;%

26%

1:%

<ERY RISKY

MODERATE

SAFE

<ERY SAFE

NON POLICY HOLDER

%C@

8/13/2019 20704637 Report on Ulip


-INDIN7S

• N$w pe$p"e main") pre/er ULIP /$r sa+in, then !an1

then P$st8O//i*e and a/ter that pre/er P.P.7. and $ther.

'he main reas$n !ehind the insuran*e p"an $r ULIP

pre/eren*e is swit*hin /a*i"it) $r $pti$n t$ *h$$se /und.

• Main") pe$p"e pre/er "$w r$wth sa/e return as *$mpare

t$ hih r$wth s$me ris1) return.

• Pe$p"e main") pur*hase "i/e insuran*e p$"i*) /$r

in+estment and then /$r ta28sa+in the) i+e nd

pre/eren*e t$ pr$te*ti$n.

• Appr$2imate") CF pe$p"e d$ n$t 1n$w what

is insuran*e.

• I a"s$ /ind that pe$p"e main") pre/er L.I.&. as *$mpare t$

pri+ate insuran*e *$mpan).

• In m) sur+e), I a"s$ /ind that $n") ;=F pe$p"e

are satis/ied with *urrent p$"i*).

•

In a"s$ /ind that $n") ;@F pe$p"e 1n$w a!$ut the I&I&IPrudentia" Li/e Insuran*e.

%C

8/13/2019 20704637 Report on Ulip


C5APTER

RECOMMANDATIONS

%%C

8/13/2019 20704637 Report on Ulip


RECOMMENDATIONS

%. E%has!s a+"ert!seet&$mpan) sh$u"d emphasis $n

insuran*e p"an ad+ertisement, !e*ause at present *$mpan) main

/$*us $n *$n+enti$na" pr$du*t ad+ertisement.

. I9rease ! 9!ss!&$mpan) sh$u"d a"s$ *hane the

*$mmissi$n stru*ture $/ 7.&., !e*ause in initia" )ear *$mmissi$n is

+er) hih as *$mpare t$ remainin )ear. S$ 7.&. d$es n$t /$*us $n

remainin )ear and man) p$"i*ies "apsed.

-. Mak!, ICICI re a99ess!4&e 5ere I mean that as @CF $/ the

p$pu"ati$n $/ India is rura" there/$re I&I&I must ha+e there

!ran*hes in imp$rtant t$wns s$ it n$t $n") this wi"" in*rease the

awareness am$n pe$p"e m$re $+er it wi"" he"p the *$mpan) t$

a*>uire "$*a" mar1et and *ater t$ their needs e//e*ti+e").

4. There shu&+ 4e a %r+u9t ;!th s!!&ar 'eatures a+ &; !!t!a&

%re!u A pr$du*t "i1e Li/e 'ime super is suita!"e /$r a"" !ut the

initia" premium whi*h *ann$t !e "ess than CCCC rs. is $n the

hiher side , there/$re the *$mpan) sh$u"d deri+e a pr$du*t with

simi"ar /eatures !ut with "$w initia" premium s$ that it is a//$rda!"e

t$ n$rma" ser+i*e *"ass.

%%%

8/13/2019 20704637 Report on Ulip


8/13/2019 20704637 Report on Ulip


CONCLUSION

In India, insuran*e is enera"") *$nsidered as a ta28sa+in de+i*e instead

$/ its $ther imp"ied "$n8term /inan*ia" !ene/its. Indian pe$p"e are pr$ne

t$ in+estin in pr$perties and $"d /$""$wed !) !an1s dep$sits. 'he)

se"e*ti+e") in+est in shares a"s$ !ut the per*entae is +er) sma""4.;F.

E+en t$ this da), Li/e insuran*e mar1et has !e*$me m$re +i!rant .

Smashin a"" d$u!ts $+er the de*isi$n t$ "i!era"i3e the industr), the

$+erwhe"min /irst )ear per/$rman*e $/ the Indian insuran*e se*t$r is test

*ase $/ a massi+e su**ess st$r) $/ pri+ate p"a)ers enterin int$ the

erstwhi"e state m$n$p$").

'he t$p three insuran*e *$mpanies8I&I&I Prudentia" Li/e Insuran*e&$mpan), 5D7& Standard Li/e and Ma2 New $r1 Li/e8 *$m!ined

%%-

8/13/2019 20704637 Report on Ulip


manaed t$ se"" $+er tw$ "a1h p$"i*ies in a sin"e )ear. I&I&I Prudentia",

t$uted as the num!er $ne pri+ate "i/e insurer, s*$red $n a"" three /r$nts8

with the ma2imum num!er $/ p$"i*ies s$"d %,CC,CCC p$"i*ies#, hihest

am$unt $/ premium *$""e*ted Rs. ,?CC *r$re#.

%%4

8/13/2019 20704637 Report on Ulip


C5APTER

.I.LIO7RAP5Y

.I.LIO7RAP5Y

Pr!te+ Sur9es

%. I&I&I Prudentia" Li/e Insuran*e &$mpan) Unit

Lin1ed Pr$du*t Guide.

%%;

8/13/2019 20704637 Report on Ulip


.r9hures

I&I&I Prudentia" Li/e Insuran*e &$mpan) Ltd., Ma) CC4

Li/e Insuran*e &$mpan) Ltd.

Bir"a Sun"i/e Li/e insuran*e &$mpan)

5d/* Standard Li/e Insuran*e &$mpan)

Om 1$ta1 Li/e Insuran*e &$mpan)

Ba0a0 a""ian3 Li/e Insuran*e &$mpan

Pu4&!9at!s

www.!ima$n"ine.*$m

www.$$"e.*$m

www."i*india.*$m

www.i*i*ipru"i/e.*$m

www.!ir"asun"i/e.*$m

%%=

http://www.bimaonline.com/

http://www.google.com/

http://www.licindia.com/

http://www.iciciprulife.com/

http://www.birlasunlife.com/

http://www.bimaonline.com/

http://www.google.com/

http://www.licindia.com/

http://www.iciciprulife.com/

http://www.birlasunlife.com/

8/13/2019 20704637 Report on Ulip


C5APTER @0

ANNEHURE

TUES'IONAIRE

T %. a# D$ )$u ma1e in+estments

%%?

8/13/2019 20704637 Report on Ulip


es # N$ #

!# I/ es, where d$ )$u ma1e in+estment

Ban1 dep$sits # Mutua" 7unds #

Shares # "i/e insuran*e #

P$sta" dep$sit s*hemes # Rea" estate #

Pre*i$us meta" #&$mpan) de!entures and dep$sits #

T . (hat are the reas$ns t$ ma1e in+estments

'a2 Sa+in # Return #

&apita" Appre*iati$n #

se*ure in+estment #

Li/e *$+er #

Other #

T-. Are )$u satis/ied with )$ur In+estment

ES # NO #

T 4. In whi*h se*t$r d$ )$u pre/er t$ in+est )$ur m$ne)

Pri+ate Se*t$r #

G$+ernment Se*t$r #

T ;. D$ )$u thin1 ser+i*es pr$+ided !) pri+ate se*t$r wi"" !e !etter than

pu!"i* se*t$r *$mpanies

es # N$ #

T =. Is pri+ate "i/e insuran*e *$mpanies re"ia!"e /$r In+estment

%%@

8/13/2019 20704637 Report on Ulip


es # N$ #

T ?. 5a+e )$u heard a!$ut pri+ate insuran*e *$mpan) i*i*i prudentia"

"i/e

es # N$ #

T @. 7r$m where did )$u *$me t$ 1n$w a!$ut i*i*i prudentia" "i/e

insuran*e

E"e*tr$ni* media # print media #

Seminar # ($r1 sh$ps #

Ad+is$r # $thers #

T . a# Are )$u aware $/ unit "in1ed insuran*e P"ans u"ip#

es # N$ #

!# I/ es, D$ )$u 1n$w, -ULLY AWARE LITTLE

AWARE UNAWARE

'he w$r1in $/ ULIP # # #

&riteria /$r returns # #

#

Di//erent P"ans # #

#

(here )$ur /und in+ested !) insurer # #

#

%%

8/13/2019 20704637 Report on Ulip


Swit*hin Opti$n # #

#

T %C. a# 5a+e )$u e+er in+ested in ULIP p"ans

es # N$ #

!# I/ es, p"ease spe*i/) 8

PLAN NAME

sa+in p"an # pr$te*ti$n p"an #

Pensi$n p"an # *hi"dren’ s p"an #

T %%. (hat are the reas$n /$r in+estment in u"ip

L!'e %rte9t! ( )

I"estet a+ Sa"!,s ( )

-&e?!4!&!t# ( ) Tras%are9# ( )

L!*u!+!t# ( ) Ta? %&a!, ( )

T %. whi*h *$mpan) p$"i*) d$ )$u ha+e

I&I&I Prudentia" #

5D7& Standard #

Ba0a0 A""ian3 #

Bir"a Sun Li/e #

Li* # Other 666666666666...

%C

8/13/2019 20704637 Report on Ulip


T%-. 5$w mu*h return )$u are e2pe*tin /r$m )$ur ULIP

%;8;F

;8-;F

-;84;F

ABOKE '5AN

T%4. D$ )$u thin1 ULIP is a ris1) in+estment

KER RISH

LESS RISH

SA7E

KER SA7E

T %;. D$ )$u ha+e an) p"an t$ !u) u"ip p"ans in near /uture

es # N$ #

T %=. I/ )$u are n$t ta1in an) u"ip p"ans, p"ease te"" us the reas$ns

wh)

(e *$u"dn’t a//$rd

#

(e d$n’t see an) !ene/it with the s)stem.

#

(e d$n’t want insuran*e.

#

%%

8/13/2019 20704637 Report on Ulip


(e d$n’t understand h$w u"ip w$r1s.

#

(e are n$t t$$ mu*h aware $/ u"ip p"ans.

#

@8 What ste%s + #u su,,este+ t the 9%a!es t ake

the!r ULIP %&as re %%u&ar

7!"e re a+"ert!seets8 ( )

Arra,e re ;rk sh%s8 ( )

Arra,e re se!ars ( )

Re+u9e 9har,es ( )

Create a;areess thru,h a+"!srs ( )

Others 666666666666666..

%@. Pers$na" Detai"s

NAME8888888888888888888888888

AGE888888888888888888888888888888888888

TUALI7I&A'ION888888888888888888888888888888888888888888

8888888888

O&&UPA'ION8888888888888888888888888888888888888888888888

88888888888

ADDRESS8888888888888888888888888888888888888888888888888888

88888888888888888888888888888888888888888888888888888888888888888

8888888888888888888888

%

8/13/2019 20704637 Report on Ulip


20704637 report on ulip

Documents