final presentation insurance
TRANSCRIPT
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CAN YOU BE SURE AS TO
WHAT MAY HAPPEN TOU IN THE NEXT FEW
MINUTES???????
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DO YOU LOVE YOUR NEAR
AND DEAR ONES AS MUCHAS YOU LOVE
YOURSELF????
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DO YOU WANT TO BE
FINANCIALLY SECURE IN
THE EVENT OF ANYUNFORSEEN CALAMITY???
http://images.google.co.in/imgres?imgurl=http://i.dailymail.co.uk/i/pix/2009/03/25/article-1164729-02FEEE740000044D-450_468x501.jpg&imgrefurl=http://atlasshrugs2000.typepad.com/atlas_shrugs/deathspeak_language_of_ther_absurd/&usg=__k6cGJ1UQMCLLx760MFw9vY1uEjs=&h=501&w=468&sz=70&hl=en&start=33&um=1&tbnid=FgGazwbiCkWBaM:&tbnh=130&tbnw=121&prev=/images?q=demoloshing+world+trade+centre&ndsp=20&hl=en&safe=active&sa=N&start=20&um=1 -
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Invest the next 15 minutes of
your time to understandINSURANCE in the right
perspective...
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What is insurance?
The definition of insurance canbe made from two points:
FUNCTIONAL DEFINITION.
CONTRACTUAL DEFINITION.
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FUNCTIONAL DEFINITION
Insurance is a co-operative device to spreadthe loss caused by a particular risk over a
number of persons who are exposed to it and
who agree to insure themselves against the risk.
CONTRACTUAL DEFINITION In the words of justice Tindall, Insurance is a
contract in which a sum of money is paid to the
assured as consideration of insurers incurring therisk of paying a large sum upon a given
contingency.
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Why insurance???
PRIMARY REASONS
Life is full of uncertainties
Provides the much required RISK COVERServes as a financial buffer in the wake of any
unfavorable and un-foreseen circumstances
Ensures that near and dear ones are not left in financial
doldrums due to any exigencyThe risk cover that insurance provides has no parallels in
the financial world
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Why insurance ???
SECONDARY REASONS
Money back plans provides an element of liquidity
by returning a portion of the sum assured at
regular intervals. This is in addition to the risk
cover
Unit linked plans invest a percentage of the
premiums in market securities and provide returns.This combines market linked returns along with
risk cover
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TYPE OF INSURANCE
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GENERAL INSURANCE
General insurance or non-life insurance
policies, including automobile and
homeowners policies, provide paymentsdepending on the loss from a particular
financial event. General insurance typically
comprises any insurance that is notdetermined to be life insurance.
http://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Life_insurance -
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TYPES OF GENERAL INSURANCE
FIRE INSURANCE
MARINE INSURANCE
MARINE INSURANCE
http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=2ElPzH1QQZeqQM:&imgrefurl=http://cjarabia.blogspot.com/2011/03/disaster-on-day-10-do-not-panic-remain.html&docid=T4RhHJUt4lZY4M&w=500&h=336&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=2ElPzH1QQZeqQM:&imgrefurl=http://cjarabia.blogspot.com/2011/03/disaster-on-day-10-do-not-panic-remain.html&docid=T4RhHJUt4lZY4M&w=500&h=336&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=2ElPzH1QQZeqQM:&imgrefurl=http://cjarabia.blogspot.com/2011/03/disaster-on-day-10-do-not-panic-remain.html&docid=T4RhHJUt4lZY4M&w=500&h=336&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1 -
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CROP INSURANCE
MOTOR INSURANCE
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LIFE INSURANCE
Life insurance is a writtencontract between the
insured and the insurer,
that provides for thepayment of the insured
sum on the date of the
maturity of the contract or
on the unfortunate death
of the insured, whichever
occurs earlier
http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=u4fFtG_ciRqZ9M:&imgrefurl=http://blog.photoshelter.com/2008/06/richard-mosses-air-disasters.html&docid=8jacJCF5Hj1QVM&w=800&h=640&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=QYUT3FI_JfwkmM:&imgrefurl=http://nalakagunawardene.com/2009/12/28/asian-tsunami5-how-a-packed-train-headed-to-disaster-with-no-warning/&docid=aFkI9frNjJQX9M&w=657&h=407&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=xrF1689B-RiEAM:&imgrefurl=http://www.flickr.com/photos/millzero/705902956/&docid=dkay_xQ38Fwh0M&w=453&h=500&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1 -
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http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=gyfxeGfXTe5ZZM:&imgrefurl=http://www.simpar.com/disaster.html&docid=kFQK35hCsPKzOM&w=214&h=320&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=u4fFtG_ciRqZ9M:&imgrefurl=http://blog.photoshelter.com/2008/06/richard-mosses-air-disasters.html&docid=8jacJCF5Hj1QVM&w=800&h=640&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=QYUT3FI_JfwkmM:&imgrefurl=http://nalakagunawardene.com/2009/12/28/asian-tsunami5-how-a-packed-train-headed-to-disaster-with-no-warning/&docid=aFkI9frNjJQX9M&w=657&h=407&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=dRSIUhL4JO3KUM:&imgrefurl=http://www.justsickshit.com/category/disasters/&docid=ijKwUBv9NHsU5M&w=500&h=343&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=2ElPzH1QQZeqQM:&imgrefurl=http://cjarabia.blogspot.com/2011/03/disaster-on-day-10-do-not-panic-remain.html&docid=T4RhHJUt4lZY4M&w=500&h=336&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=xrF1689B-RiEAM:&imgrefurl=http://www.flickr.com/photos/millzero/705902956/&docid=dkay_xQ38Fwh0M&w=453&h=500&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=dL79cKCzRbxtwM:&imgrefurl=http://www.buzzintown.com/tags/pid--195125/segment--article-images/id--967.html&docid=qfm0FDGAX_RymM&w=749&h=600&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=AV2S5etvHW9kuM:&imgrefurl=http://widescreen.dpiq.org/21__Hit_by_Disaster,_Piccadilly_Circus.htm&docid=QY-lIAoU9wQYvM&w=1280&h=800&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=5tv3XfhEO53TXM:&imgrefurl=http://www.adpc.net/blog/?p=836&docid=1E8FDeMjFvUllM&w=450&h=300&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1 -
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http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=M2CYa6HRUKpbcM:&imgrefurl=http://www.outlookindia.com/printarticle.aspx?221787&docid=otA0lcNUiEncWM&w=370&h=250&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=TCME2TWdkADsZM:&imgrefurl=http://www.realmagick.com/natural-disaster-hailstorm/&docid=iGN5tClFGCnBuM&w=300&h=300&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=O9N-JobeufJ72M:&imgrefurl=http://free-paying-keywords.blogspot.com/2007/05/disaster-recovery-top-paying-keywords.html&docid=xwq2wLjPHFPUVM&w=1536&h=2048&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=iQIOtOwkk6_5PM:&imgrefurl=http://www.itsnature.org/category/photos/disaster-photos/&docid=I7PC1YAnEF9wHM&w=1600&h=1200&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=GbSLG1y5gg5NGM:&imgrefurl=http://nbsenagaland.com/disaster_management.htm&docid=89L6dBmCdVBkdM&w=448&h=358&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=394eJzuzn2NkKM:&imgrefurl=http://www.irgamag.com/?page=disasters&docid=cmnkQMPeh13TqM&w=1435&h=1013&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=dL79cKCzRbxtwM:&imgrefurl=http://www.buzzintown.com/tags/pid--195125/segment--article-images/id--967.html&docid=qfm0FDGAX_RymM&w=749&h=600&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=AV2S5etvHW9kuM:&imgrefurl=http://widescreen.dpiq.org/21__Hit_by_Disaster,_Piccadilly_Circus.htm&docid=QY-lIAoU9wQYvM&w=1280&h=800&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=xtmNjfokH1avJM:&imgrefurl=http://www.friendsdisasterservice.org/&docid=RxqASjjgiZh3KM&w=359&h=538&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=VWkKY-On8btMFM:&imgrefurl=http://www.southdreamz.com/2010/02/the-worst-natural-disasters-ever.html&docid=__MB265902WCMM&w=586&h=388&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1http://www.google.co.in/imgres?q=disaster&hl=en&gbv=2&biw=1280&bih=605&tbm=isch&tbnid=5tv3XfhEO53TXM:&imgrefurl=http://www.adpc.net/blog/?p=836&docid=1E8FDeMjFvUllM&w=450&h=300&ei=EopjTtr1EJHQrQeL7qSdCg&zoom=1 -
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MAJOR PLAYERS OF LIFE INSURANCE
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MARKET SHARE(2010-2011)
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OBJECTIVE OF THE
PRESENTATION
Which is the best Life Insurancecompany amongst;
LIFE INSURANCE CORPORATIONAND
BIRLA SUN LIFE INSURANCE
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COMPANY PROFILE
BIRLA SUN LIFE INSURANCE
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BIRLA SUN LIFE INSURANCE
Launched just before 9 years but still managed to be
amongst leading player(7th) in private insuranceindustry.
Strong fundamentalsbased on the Aditya Birla Groups
local insight and Sun Life financials global expertise.
Birla Sun Life Insurance pioneered the unique Unit
Linked Life Insurance Solutions in India
Having 1, 68,090 active advisors, and sold 2.5 million
policies.
In April 2011, achieved the landmark of
processing 100% of its claims.
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COMPANYPROFILE
LIFE INSURANCE CORPORATION
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LIFE INSURANCE CORPORATION OF INDIA
The Life Insurance Corporation (LIC) was established
about 44 years ago with a view to provide an insurancecover against various risks in life. A monolith then, the
corporation, enjoyed a monopoly status and became
synonymous with life insurance.
Its main asset is its staff strength of 1.24 lakhemployees and 2,048 branches and over six lakh agency
force.
LIC has hundred divisional offices and has established
extensive training facilities at all levels. At the apex, isthe Management Development Institute, seven Zonal
Training Centres and 35 Sales Training Centres.
. It pays off about Rs 6,000 crore annually to 5.6 million
policyholders.
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A PROJECT REPORT ON
Comparative study of customer
preference for life insurance
scheme of LIC & BSLI
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INSURER LIC BSLI
ULIP WEALTH PLUS PLATINUM PREMIER
Entry Age 10-65 Yrs 8-70 YrsTerm 8 Yrs 10 YrsPPT Single or 3 10Maturity Age 73 Yrs 80 YrsMode Single, Yly, Hly,
Qly, ECS Monthly
Yly, Hly, ECS Qly,
ECS Monthly
Risk Cover SP 1.25-5 Times;Annual 5-10 Times
5 Times of
Annual PremiumDeath Cover SA + Fund Value SA or Bid ValueExtended Cover Yes No
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INSURER LIC BSLIULIP WEALTH PLUS PLATINUM PREMIER
DAB Yes NoPremium SP 40000;Yly20000,Hly 10000
Qly 5000, ECS 2000
Yly 25000
Hly 15000
ECS, Qly 7500, Mly 5000
Fund Type OneWealth Plus Fund Tenonly 1 is guaranteedNAV Guarantee 7 Yr, Term End 7Y3M, Term EndAllocationCharges [1st Year] 11.25-12.00% 10%AllocationCharges [Later] 2.50% for PPT 5% for PPTAllocationCharges [SP] 4.00-4.50% NAPartial Withdraw 3 Yrs 3 Yrs
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INSURER LIC BSLIULIP WEALTH PLUS PLATINUM PREMIER
Surrender 3 Yrs 3 YrsSurrender Charges NIL Within 3 Yr 40%4 Yr 20% 5 Yr 10%Policy Admn Charge 1st Yr 60 PM;
2nd Yr 25 PM
Escalation @3%
0.24% PM of first
25000 and 0.40% of
annual premium (3Yr)
FMC 1% 1.5%Guarantee Charges 0.35% Included in FMC
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Peak NAV Guarantee ULIP :Illustration of charges for the first 3
years:
For illustrative calculation, thefollowing are considered:
ModeYearly premium;
Premium1 Lac;
Sum Assured 5 Lac;
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ULIP WEALTH PLUS P. PREMIER
1st Yr Alloc. Charge 12000 10000
Policy Admn. Charges
720 60+400 PMTotal 1st Year 12720 15520
2nd Yr Alloc. Charge 2500 5000
Total 2nd Year
2800 105203rd Yr Alloc. Charge 2500 5000
Total 3rd Year 2800 10520
TOTAL IN 3 YEARS
18320 365620Total 3 Yr Premium 3 LAC 3 LAC
Allocated (nearest 000) 2.82 LAC 2.65 LAC
Surrender Charges NIL YES
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CONCLUSION.
GROUP MEMBERS
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GROUP MEMBERS
ROHITSAMEER
YOGESH
PRATMESH
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Thank you for your time....