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INDEX

Preface............................................................................................................2

Acknowledgement.........................................................................................3

INDEX............................................................................................4

1. Executive Summery....... 6

2. Introduction.....72.1. Introduction to Insurance..................72.2. Brief History of Insurance........82.3. Purpose & need for Insurance...........................................................92.4. Types of Insurance .........................10

3. The Insurance Regulation & Development Authority..11

4. Company Profile.......174.1. Vision and Value of company....184.2. The HDFC Group...194.3. Group Companies of HDFC...........................................................214.4. Branch Profile of HDFC SL Vaishali Nagar......294.5. Products: At a Glance.. ......304.6. Market Analysis of Company.43

5. Swot Analysis.......45

6. Organisation Hierarchy Chart...................................................................466.1 Distribution Channel............48

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7. HDFC SLS Key Strength..49

8. Research and Methodology of training...508.1 Objective of Research . 50

8.2 Methodology...518.3 Tools and Techniques used528.4. Data Analysis and interpretation538.5. Limitation of the Study..56

10. Conclusion............57

11. Recommendation.58

12. Questionnaire59

13. Bibliography........61

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EXECUTIVE SUMMERY

The main objective of this project is to study Comparative Analysis of Unit Linked

Products of HDFC SL with other ULIP products of various companies available in themarket, and it was found that HDFC SL not only gives highest returns to its customersbut providing value added services by giving risk cover to them. Beside this administrativestructure of Company was also analyzed in the report to understand the functioning of thesame at various levels. To create a picture regarding all these aspects analysis of AnnualReport and fact sheet of HDFC SL were used mainly.

Life Insurance in India has a huge potential for growth. Statistics reveal that only 25% ofthe insurable population in India is insured. And those insured are in need of still higherinsurance cover. The cover 100% growth displayed by private life insurers indicates this

huge untapped potential.

Companies try to bring new products with special features. ULIP is the most innovativeproduct of insurance which provide better returns with insurance coverage.

HDFC SL is one of the leading players in this category. HDFC SLs Unit Linked Plans,which are aimed at providing the Financial Planning and Investments services to theIndividuals, are one of the best products in their category. These products give best returnsto the customers. HDFC SL is on the top in aspect of giving returns. HDFC SLs last two

year returns were 47.4% which is very higher to its nearest competitor Tata AIG whichhaving a return of 42.2%.

Last but not least HDFC SL has wider horizons for engaging the BBA students in a betterand hopeful profession.

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INTRODUCTION

What is Insurance?

Every asset has a value for its owner and also for those who are benefited with theexistence of that asset. Insurance is concerned with the protection of economic value ofassets.All of us are interested in the creation of assets because:All assets have values.They yield income to the owner.They meet some other needs of the owner.They may provide satisfaction of some needs and also yield income to the owner.

Every asset has normally an expected lifetime. During this period, it is expected to performand provide income/comfort to the owner. The owner, being aware of this, plans the thingsin such a way that by the time the expected lifetime of the asset expires, he is ready withthe funds required for its replacement. In this way, he ensures that the value or incomefrom the asset is not lost. Well, this appears to be a fine arrangement provided the assetcompletes its expected lifetime!

All assets carry the risk of being destroyed or damaged. But all assets may not necessarilyget destroyed or damaged. Only in a few instances, the probability turns out to be true andthe asset gets actually lost or destroyed by accident or some other unfortunate event beforethe completion of its expected lifetime. The owner and those deriving benefits from the

asset will suffer because the arrangement to make available its substitute is not yet ready.

Insurance is helpful in mitigating such adverse consequences. To sum up, assets areinsured, as they are likely to be lost or made non-functional through an accidentaloccurrence.

Insurance does not protect the assets. This means that insurance cannot prevent loss to theassets due to perils. Nor can insurance avoid the occurrence of the perils. It onlycompensates, may not be fully, the economic or financial loss resulting to the asset from

such damage or destruction.

Brief History of Insurance

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The beginning of insurance business is traced to the city of London. It started with themarine business. Marine traders, who used to gather at Lloyds coffee house in London,agreed to share losses to goods during transportation by ship. Marine related lossesincluded:-Loss of ship by sinking due to bad weather in high seas.Goods in transit by ship robbed by sea pirates.Loss of or damage to the goods in transit by ship due to bad weather in high seas. The firstinsurance policy was issued in England in 1583.

Life Insurance in India

In India, insurance started with life Insurance. It was in the early 19 th Century when theBritishers on their postings in India felt the need of life insurance cover.

It started with English Companies like... The European and the Albert. The First Indianinsurance company was the Bombay Mutual Assurance Society Ltd., formed in 1870.

In the wake of the Swadeshi Movement in India in the early 1900s, quite a good number ofIndian companies were formed in various parts of the country to transact insurancebusiness. To name a few:: Hindustan Co-operative and National Insurance in Kolkata;United India in Chennai; Bombay Life, New India and Jupiter in Mumbai andLakshmi Insurance inNew Delhi.

Nationalisation of Life Insurance in India

In 1956, life insurance business was nationalized and LIC of India came into being on1.9.1956. The government took over the business of 245 companies (including 75 provident fund societies) who were transacting life insurance business at that time.Thereafter, LIC got the exclusive privilege to transact life insurance business in India

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Purpose and Need for Insurance

Assets are likely to be destroyed or made non-functional due to accidental occurrencescalled perils. Assets can, therefore, be insured. A few examples of perils are: fire, floods,

breakdowns, lightning, earthquake etc. Perils are the events. Risks are the consequentiallosses or damages.

Possibility of damage to asset caused by any peril is the risk that asset is exposed to.Risk means uncertainty or unpredictability about future loss or damage, which may or maynot happen. This refers to the losses, which may happen suddenly and unexpectedly.This is because of uncertainty about the risk that insurance plays the role.

Insurance becomes relevant only if there are uncertainties of occurrence of event leading toloss/es. Insurance is done against the contingency of the happening of such events.No uncertainty No Insurance.

We can say that a human life is also an income-generating asset.Human life may be lost due to unexpected early death or become non-functional followingsickness or disabilities cause by accidents.

If this happens by the time one is on the verge of retirement when his income is about tocease, he might have made alternative arrangements to meet his needs.

But if this happens at a younger age when he is not expected to have made adequatealternative arrangement, those who are dependent on his income, will suffer. Insurance isnecessary to help those dependent on his income.

Types of InsuranceTypes of Insurance

6

MARINEINSURANCE

FIREINSURANCE

MISCELLANEOUSINSURANCE

VEHICLESFURNITUREBUILDINGAIRCRAFTSGENERALINTANGIBLES

ONLY HUMAN

LIFE INSURANCEINCLUDES IN THISCATEGORY

HUMAN BEINGSSICKNESS, ILLNESSAND OTHERASSURANCE GIVENIN THIS CATEGORY

LONG TERM

CONCEPT

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Basically there are two types of Insurances:Non-Life InsuranceLife Insurance

INSURANCE

NON-LIFE

INSURANCE LIFEINSURANCE

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THE INSURANCE REGULATORY

&

DEVELOPMENT AUTHORITY

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GENERAL TERMS AND CONDITIONS APPLICABLE TOFINANCIAL COSULTANTS OF THE COMPANY

1. DEFINITIONS:

Unless the context otherwise requiresi. Act means the insurance Act, 1938 and includes any amendment thereto or

enactment there under;

ii. Agent or Insurance Agent means an agent licensed under Section 42 of theinsurance Act 1938 (as amended) and appointed by the Company and shall have themeaning set out in Regulations framed by the insurance Regulatory andDevelopment Authority from time to time.

iii. Authority or the IRDA means the Insurance Regulatory and DevelopmentAuthority constituted under section 3 of the IRDA Act 1999;

iv. Financial Consultant means and includes an Agent.

2. CODE OF CONDUCT;

Every person who is appointed as Financial Consultant by the company and who holds alicence Section 42 of the Act, shall adhere to the model code of conduct as specifiedbelow:-

I. EVERY FINANCIAL CONSULTANT SHALL

a) identify himself and HDFC Standard Life insurance Company Limited, of whom heis an insurance agent to all the prospect;

b) disclose his license to the prospect if so demanded;

c) disseminate the requisite information in respect of insurance products offered forsale by his insurer and take in to account the needs of the prospect whilerecommending a specific insurance plan;

d) disclose the scales of commission in respect of the insurance product offered forsale, if asked by the prospect;

e) indicate the premium to be charged by the insurer for the insurance product offeredfor sale.

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II. NO FINANCIAL CONSULTANT SHALL,

a) solict or procure insurance business without holding a valid license;

b) induce or persuade any prospect to omit any material information in the proposalfrom,

c) induce the prospect to submit wrong information in the proposal form or documentssubmitted to the insurer for acceptance of the proposal;

d) behave in a discourteous manner with the prospect;

e) interfere with any proposal introduced by any other insurance agent.

f) offer different rates, advantages, terms and conditions other than those offered byhis insurer.

III. EVERY FINANCIAL CONSULTANT SHALL:

with a view to conserve the insurance business already procured through him, makeevery attempt to ensure remittance of the premiums by the policyholders within thestipulated time, by giving notice to the policyholder orally and in writing.

3. ADVERTISEMENT AND PUBLICITY

Every Financial Consultant shall, during the conduct of his agency business, adhere to the provisions of the insurance Regulatory and Development Authority (InsuranceAdvertisement and Disclosure) Regulation,2000.

In accordance with the advertisement regulations issued by the IRDA, the FinancialConsultant are required to obtain prior approval in writing of the Company for issue of anyadvertisement, However in the following cases such prior written approval is not required.

a) Advertisement developed by the company and provides to the Financial Consultant;

b) Generic advertisement limited to information like the name, logo, address, and

phone numbers etc of Financial Consultant; and

c) Advertisements that consist only of simple and correct statements describing theavailability of lines of insurance, references of experience, service and

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qualifications; but making no reference to specific policies, benefits, costs or thecompany.

4. OTHER INSURANCE AGENCIES:

In accordance with Insurance Regulatory and Development Authority (Licensing ofInsurance Agnets) Regulations,2000, an insurance agent can act on behalf of only one lifeinsurer and one general insurer at one time. Hence the financial Consultants are needed toensure that the do not take up life insurance agency of any other life insurer . He mayhowever act as a general insurance agent for one general insurer, subject to his meeting theapplicable regulatory requirements.

5. MINIMUM BUSINELL AND COMMISSION:

As our consultant, the Financial Consultant shall be entitiled to receive Commission on thepremium generated by the financial consultant and the rates of the Commission will beinformed to the Financial Consultant separately from time to time . While ensuring that theexisting business continues, the Financial Consultant are also required to bring in minimumnew business for the company which will entitle the financial Consultant ot a Net Effectivepremium at such rates as may be determined by the Company from time to time .

6. PAYMENT OF COMMISSION ON POLICIES ON OWN LIFE:

in terms of Rule 16-B of the insurance Rules,1939, an agent shall not be entitled tocommission on any policy taken out by him on his own life unless he has secured policieson six different lives excluding his own and he has also been an insurance agentcontinuously from the time of his soliciting or procuring the first policy on each of such sixlives or proposing on the policy of his own life, whichever is earlier, till the time when thepolicies on those six lives and the policy on his own life have all been issued.

7. PAYMENT OF COMMISSION IN CASE OF DEATH:

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In the event of death of an Agent, the commission payable to him under the provisions ofclause (b) and (c) of section 44(1) of the Act, shall continue to be payable to his legalheirs, in any payable to his legal heirs, in any, for so long as the commission would havebeen paid to the Agent if he were alive.

8. PAYMENT OF COMMISSION IN CASE OF TERMINATION:

Where the agency contract has been terminated for reasons other than fraud, the

commission on renewal premium shall be paid in accordance with the provisions of clauses(a),(b) & (C) of the proviso to section 44(1) of the Act.

9. CHARGES:

Every agent shall at the time of applying for Agency, pay a sum of Rs.800/- to theCompany towards licensing and examination fees and franking charges. the said rates aresubject to revision in accordance with the applicable rules and regulations.

10. QUALIFICATION OF AGENT

the person must be at least 18 years old. Must have passed at least 12th standard or more (ifhe is appointed in a place with population of 50,000 or more), 10th standard otherwise.

Have undergoes training for at least 100 hours in life or general insurance business as the

case may be from an institute, approved & notified be the authority.

should have also passed the pre-recruitment examination conducted by the insuranceinstitute of India or any other examination body recognized by the authority.

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11. DISQUALIFICATION OF AGENT

A Financial Consultants licence is liable to be cancelled If the Financial Consultantsuffers, at any time during the currency of the licence, from any of and the

disqualifications mentioned in sub-section (4) of Section 42 of the Act, and the Companymay recover from him the licence and the identity card issued earlier along with all otherdocument, literatures, booklets tables etc. that belong to the company. the disqualificationsmentioned in Sub-section(4) of section 42 of the Act are:

a) That the person is a minor,

b) That he is found to be of unsound mind by a court of competent jurisdiction;

c) That he is found guilty of criminal misappropriation or criminal breach of trust orcheating or forgery or an abatement of or attempt to commit any such offence by acourt of competent jurisdiction.

d) That in the course of any judicial prodeeding relating to any policy of insurance orthe winding up of an insurance company or in the course of an investigation of theaffairs of an insurer, it has been found that he has been guilty of or has knowinglyparticipated in or connived at any fraud, dishonesty or misrepresentation against aninsurer or an insured;

e) That he does not possess the requisite qualification and practical training for aperiod not exceeding 12 months, as may be specified by the Regulations, made bythe Authority in this behalf;

f) That he has not passed such examination as may be specified by the Regulationmade by the authority in this behalf;

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COMPANY PROFILE

OF

HDFC SL INSURANCE

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VISION & VALUES

The HDFC GroupThe HDFC Group

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Our Vision

The most successful and admired Life InsuranceCompany, which means that we are most trustedcompany, the easiest to deal with, offers the best valuefor money, and set the standards in the industry. Inshort, The most obvious choice for all.

Values

IntegrityInnovation

Customer CentricPeople CareTeam Work

Joy & Simplicity

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HDFC was incorporated in 1977 with two primary objectives - to enhance housing stock inthe country through housing finance systematically and professionally and promote home

ownership. Today they are the largest residential mortgage finance institution in India, witha net worth of Rs. 2,703 crores as of March 31, 2002 and an asset base of over Rs. 22,000crores. HDFC also aim to increase the flow of resources to the housing sector byintegrating the housing finance sector with the overall domestic financial markets.

Over a span of 25 years, HDFC has become the pioneer in housing finance in India andmade it possible for over two million families to own their homes, through housing loansworth over Rs. 42,000 crores.

At HDFC, they have turned the concept of housing finance for the growing middle class inIndia into a profitable, professionally managed, world class enterprise. HDFC have also co-

promoted financial intermediaries in various fields such as banking, realtyservices, assetmanagement, securities trading, life Insurance as well as general Insurance, call centersandBPO services.

HDFC has demonstrated the viability of market oriented housing finance in a developingcountry. The World Bank considers us a model private sector housing finance company indeveloping countries and a provider of technical assistance for new and existinginstitutions, in India and abroad.

Their re-engineering has always centered around the customer in retail markets on bothsides of the balance sheet, i.e. loans are given to individuals and deposits are accepted from

individuals. A positive personalized approach towards our customers' needs has beenHDFCs goad and motto.

HDFC is also the largest mobiliser of retail deposits in the private sector outside thebanking circle. Their deposits have been awarded the highest safety credit rating 'FAAA' &MAAA by CRISIL and ICRA respectively for eight consecutive years.

Today, their deposit base is over 10,000 crores - a depositor base of over 13 lacs and anetwork of over 50,000 deposit agents. A wide geographical spread of activities in India,through their branch network of over 130 offices, over 80 outreach locations and the HDFC

BANK branch network enables us to offer loans and deposit services to individuals in over2,400 towns and cities across the country. They also have an international office in Dubai,U.A.E. and service associates in Kuwait, Oman, Qatar, Saudi Arabia and Bahrain to serviceNon-resident Indians.

While being a household name in India and the undisputed market leader in the fields ofhousing finance, their social responsibilities have remained in focus. HDFC continue to

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make consistent efforts towards economic and social upliftment of the marginalisedsections of society by offering customized financial assistance. This is done through strongassociations and partnerships with several NGOs, voluntary agencies and otherdevelopment institutions ensuring effective implementation of projects and improvedsustainability at community levels.

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GROUP COMPANIES OF HDFC

HDFC Bank Limited HDFC DepositsHDFC Securities Limited HDFC Chubb

HDFC Asset Management Company Limited IntelenetHome Loan Services India Pvt. Ltd. HDFC Realty Ltd.HDFC Standard Life Insurance

HDFC Bank LimitedHDFC Bank Limited

The Housing Development Finance Corporation Limited (HDFC) was amongst the first toreceive approval from the Reserve Bank of India (RBI) to set up a bank in the privatesector. The bank was incorporated in August 1994 in the name of HDFC Bank Limited,with its registered office in Mumbai. HDFC Bank commenced operations as a ScheduledCommercial Bank in January 1995.

Awards

Best Listed Bank of India by Businessworld.

Best Domestic Bank by The Asset Magazines Triple A Country Award.

Best Local Cash Management Bank2006 in Large and Medium segmentsAsiamoneyAwards

Best Bank in India in 2006Euromoney Awards

HDFC Asset Management Company Ltd.HDFC Asset Management Company Ltd.

HDFC Asset Management Company Ltd. (AMC) was incorporated under the CompaniesAct, 1956; on December 10, 1999 and was approved to act as an Asset ManagementCompany for the HDFC Mutual Fund by SEBI vide its letter dated June 30, 2000.

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HDFC Asset Management Company Ltd. (AMC) is one of the most growing Mutual FundCompany of India.

Awards

HDFC mutual fund was recently awarded the CNBC Moddys investor service award forthe best performing fund house for the one year category.

Zurich also received the best performing fund house award for the three year category.

Home Loan Services India Pvt. Ltd.Home Loan Services India Pvt. Ltd.

Home Loan Services India Private Limited is a wholly owned subsidiary of HDFC Ltd.The company has been floated as a distribution arm of HDFC with an objective of offeringdoorstep service to prospective clients of HDFC group.HLSIL offers financial management solutions to individuals encompassing among other products Home Loans, Life Insurance, Mutual Funds, Fixed Deposits and propertysolutions.

Home Loans: HLSIL is present in over 100 locations across the country with 39 officesand over 1600 employees.

Financial Management: HLSIL offers financial management solutions in 9 cities and iscontinuously expanding its reach. HLSIL employs sales persons across all spectrums offinancial management enabling them to meet a range of financial needs.

HLSIL values integrity, commitment, teamwork and excellence in customer service. Ourmost valuable assets are our Human Resources. HDFC are truly proud that today we have ahighly motivated team of sales persons and that they have the lowest employee turnoverrate in the Industry.

HDFC ChubbHDFC Chubb

Its partnership that leverages the strengths of two financial powerhousescombining thetrust and local experience of HDFC, Indias premier financial services company, with the120 years proven expertise of CHUBB, a global leader in non-life insurance backed by anetwork of 134 offices in 31 countries.

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http://www.hdfcbank.com/http://www.hdfcbank.com/

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With more than $30billion in assets, The Chubb Corporation is one of the worlds largest,financially strongest, non-life insurance companies. Founded in New York in 1882, Chubbtoday provides property and casualty insurance through more than 10,000 employees in 32countries of North America, South America and Asia. Chubb also works closely with 5000

independent agents and brokers worldwide.

Motor Insurance

We understand and care for your vehicle beyond just the policy issue and speedy claims.HDFC Chubb's Motor Insurance product mainly focuses on Motor Package Policy forprivate cars & two wheelers.

Home Insurance

With Home Insurance, we will offer you cover for your home and belongings against fireand burglary. Our Home Insurance will bring you the convenience of purchase fromHDFC's home loan counters.

Accident & Health Insurance

Accidents can happen anywhere and at anytime, which is why the HDFC Chubb Accidentand Travel policy is designed to protect you from the financial consequences. Avail of theGroup Accident Policy, Hospital cash-Accident policy and Business Travel policy.

IntelenetIntelenet

Intelenet is a leading BPO service provider with the focus on providing solutions to globalOrganizations seeking to reduce the cost while consistently maintaining superior

level of standards two leading global investorsHDFC and Barclays--provide the financialbanking Intelenet needs to lead in a global marketplace. Barclays is a venerable financial

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services group headquartered in the United Kingdom, ranking amongst the services groupheadquartered in the United Kingdom, ranking among the Top 10 banks in the world basedon market capitalization.

Intelenet impacts your business by seeking to reduce costs while consistently maintaining

superior levels of service. Our solutions extend across all strata of BPO, technology andconsulting.

Awards

Deloitte Technology Fast 50 India 2005 Program

Intelenet Global Services has been ranked first among BPOs while standingthird overall in the Technology, Media and Telecommunications (TMT) sectors acrossIndia.

Deloitte Technology Fast 50 India 2006 Program

Intelenet Global Services has continued its ranking, second time in a row, asamongst the top 50 fast growing technology companies in India.

Maharashtra Information Technology Awards 2005

Intelenet Global Services came in a close second in the IT Enabled Servicescategory at the Maharashtra Information Technology Awards2005.

HDFC DepositsHDFC Deposits

D E P O S I T S

HDFC has instituted well-defined service standards for both depositors and deposit agents.HDFC has been able to mobilize deposits from over 10 lac depositors.

Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs. 8,741 crores inMarch 2006. Much of this success can be attributed to its strong brand image, superior

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services, security and above all, the significant contribution made by HDFCs depositagents. HDFC has over 50,000 deposit agents and distributes all its retail savings (deposit)products primarily through this channel.

Awards

HDFC has been awarded AAA rating and MAAA rating for its deposits from bothCRISIL and ICRA for the twelfth consecutive year, representing highest safety as regardstimely payment of principal and interest.

HDFC Realty Ltd.HDFC Realty Ltd.

Realty Limited

HDFC Realty Ltd. is a new, organized electronic marketplace for properties, to provide theentire gamut of real estate services, bringing together the click world and the bricksworld in a revolutionary and user-friendly way. It makes available the best guidance andthe most professional, transparent, efficient service to the real estate customer.

HDFCrealty.com brings together Indias most exhaustive database of properties. It acts as aone-stop online hub for information, comparative analysis, transactions, market reach andcomprehensive professional services.

HDFC Securities Ltd.HDFC Securities Ltd.

S E C U R I T I E S

HDFC Securities Ltd was promoted by the HDFC Bank & HDFC with the objective ofproviding the diverse customer base of the HDFC Group and other investors, a capability

to transact in the Stock Exchanges & other financial market transactions.

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HDFCsec provides you with the necessary tools to allocate, select and manage yourinvestments wisely, and also support it with the highest standards of service, convenienceand hassle-free trading tools.

HDFC Standard Life Insurance Company Ltd.HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurancecompanies, which offers a range of individual and group insurance solutions. It is a jointventure between Housing Development Finance Corporation Limited (HDFC Ltd.), India'sleading housing finance institution and a Group Company of the Standard Life, UK, andleading providers of financial services in the United Kingdom. HDFC as on March 31,2007 holds 81.9 per cent of equity and Standard Life was holding 18.1 in the joint venture.

HighlightsFirst life insurance Company in the private sector to get license from the regulator IRDA.

First life insurance Company to come out with Term Assurance Plan.

First private life insurance Company to declare bonuses consecutively for 6 years frominception.

First life insurance Company to introduce open option to the pension plan policyholders.

First life insurance Company to introduce Automatic Allocation Option to all thepolicyholders under Unit Linked Plans.

Only life insurance Company to give 24 free switching option to Unit LinkedPolicyholders.

HDFC is one of the fastest growing Private Life Insurers and today have more than 8 lakhpolicyholders.

HDFC have one of the widest networks with more than 160 branches and servicing over440 towns.

HDFC Standard Life Insurance Company has one of the highest brand recalls of around86%. (Source: AC Neilson ORG MARG, September 2005). A high brand recall translatesto higher chances of customers buying insurance from them.

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Profile of Standard LifeProfile of Standard Life

The Standard Life Assurance Company ("Standard Life") was established in 1825 and thefirst Standard Life Assurance Company Act was passed by Parliament in 1832. StandardLife was reincorporated as a mutual assurance company in 1925.

The Standard Life group originally operated only through branches or agencies of themutual company in the United Kingdom and certain other countries.

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Market leader in

the HousingFinance Sector

Over 2 million

satisfied

customers

Over 1,00,000

Crores in LoanApprovals

Ranked as

Indias 3rd Best

Managed

Company by

Finance Asia-

2005

Servingcustomers for

over 180 years

Currently

administers 125

billion in assets

Voted 5 Star

Life & Pensions

provider for last

10 years

250 Branches

11,00,000

Customers

Multiple

Products

- Protection- Unit Linked- With Profit

More than

8 lakh

policyholders

Servicing over

440 towns in

India

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BRANCH PROFILE OF HDFC SL, VAISHALI NAGAR

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With time and patience the leaf of the mulberry becomes satin.

HDFC Standard Life Insurance Companys branch at Vaishali Nagar, Jaipur was started in14 December 2006. It was started with the aim to provide best of Insurance services with

the core values of Integrity and Customer Centric Behavior. There is another branch at C-Scheme, Jaipur, which is the head branch in this region. Another branch of the company isgoing to open shortly at Tonk Road.

HDFCSLIC Ltd. Vaishali Nagar, Jaipur has excelled in all its services. It offers almost all products of the Company. Some of them are saving plans, pension plans, variousinvestment plans etc.

It has a well-planned organization structure. This branch is integrated by 4 branches,

Jaipur-III, Jaipur-IV, Jaipur-V and Jaipur-IX. All the branches headed by TerritoryManagerMr. Sumeet Chugh and Branch Managers Mr. Siddarth Singh (Jaipur-III), Mr. Rajesh Gupta (Jaipur-IV), Mr.Utkarsh Upadyaya (Jaipur-V), Mr. Chardra ShekharPaliwal(Jaipur-IX), and other staff members working in various departments and dealingin each of the products.

Under each Branch Manager there are around 8-12 Sales Development Managers (SDM),who takes the responsibility of promoting and selling of HDFCSLICs products.

PRODUCTS: AT A GLANCE

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Endowment Assurance PlanEndowment Assurance PlanSavings for a better tomorrow

Introduction

The Endowment Assurance Plan is a with profits savings contract which aims to give good

maturity values to the client by investing the funds as per the IRDA guidelines and

reducing claims and costs. The aim of the plan is to pay good maturity values so that the

savings objectives of the policyholders are met.

Need for the Plan

The Endowment Assurance Plan is designed to provide a solution to the long term financial

needs. It is often felt that people save only when their income is more than their expenses.

To put it bluntly if a person can earn more than what he can spend he can save. In reality

this is not the situation as one finds that it is impossible to save with the current level of

expenses. Why does this happen?

Expenses are a function of our needs, which arise due to our wants. We all know that the

wants of a human being are unlimited. Consequently the needs keep on increasing andoften increase at a rate higher than the rate of growth of income. Income on the otherhand

is limited and often grows at a much lower rate than the needs. Consequently it is difficult

to save.

There are various savings options available in the market; however most of the options are

short-term or medium term. Life Insurance savings plans are a better choice as in addition

to providing the vehicle to save for long term the plans also offer insurance on the savings.

Income does not increase with every requirement for finance. Childrens education,

marriage, housing etc. require lump sum amounts. In case any person has a responsibility

to spend on these kinds of long-term events, he would have a need for the product.

Positioning of the Endowment Assurance Plan

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The Endowment Assurance Plan can be positioned as along term savings vehicle with a

cover on the savings. The plan is suited to help in building a fund for long term financial

needs. The guarantees in the nature of sum assured and the bonuses assure the client of a

smoothened long-term return. The philosophy and practices of the company can help inbuilding the maturity values for the client and hence positioning the company is also

important in the sale of the Endowment Assurance Plan.

Money Back PlanMoney Back PlanPlan with periodic survival benefits

Introduction

The Money Back Plan is a with profits savings contract which in addition to the payment of

periodic survival benefits aims to give good maturity values to the client by investing of

funds as per the IRDA guidelines and reducing claims and costs. The aim of the plan is to

pay periodic survival benefits and build good maturity values so that the short term,

medium term and long-term savings objectives of the policyholders are met.

The net returns to the policyholders at the time of maturity would depend on the investment

and cost experience during the term of the contract.

Need for the Plan

The Money Back Plan is designed to provide a solution for the short-term, medium term

and long term financial needs. It is therefore important to understand the financial needs

before suggesting the plan as a solution.

Since people have some short term and medium term and medium term financial goals like

providing for a vacation, purchasing of a luxury item or house renovations etc, they require

money periodically in short intervals to meet these goals.

The Money Back Plan is designed to provide money periodically so that the same can be

used for such requirements. The added advantage of the Money Back Plan is that the risk

cover keeps on adjusting during the term of the contract and the policyholder is assured

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payment of the full sum assured together with the bonuses irrespective of the survival

benefits paid on death of the life assured during the term.

All the arguments on the need to save and savings being a better option than raising a loan

are applicable while selling the money back plan.

Positioning of the Money Back Plan

The Money Back Plan can be positioned as a long-term savings vehicle with provision for

short and short and medium term lump sum payments. The plan also has a cover on the

savings, which adjusts every time survival benefits are paid. The plan is suited to help meet

periodical expenses with some payment at the end of the term. The guarantees in the nature

of survival benefits, sum assured and the bonus assure the client of a smoothened long-term

return. The philosophy and practices of the company can help in building the maturity

values for the client and hence positioning the company is also important in the sale of the

Money Back Plan.

Childrens PlanChildrens PlanPlan designed for the benefit of children

Introduction

The Childrens Plan is a with-profits savings contract designed for the benefit of the child.

The plan therefore has a provision for a beneficiary, which can be the child, and all benefits

under the plan would be paid to the child. The funds generated under the plan are invested

as per the IRDA guidelines.

The net returns would depend on our investment and cost experience during the term of the

contract.

Need for the Plan

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Most parents feel that it is their responsibility to provide the best for their children. In

addition to the physical and emotional wants children also need to be provided for

financially. There are two types of financial needs of the child:

I. Short term financial needs for food, clothing shelter and education. This

need is mostly met from the income of the parent

II. Long term financial need for higher education, marriage and start in life.

The alternatives for this are either to save or raise loans.

In the event of an early death of the parent the child become dependent of one of the close

relative. To ensure that the child would be taken care even after such an eventuality the

parent can look at providing an income as well as lump sum amounts for the benefit of the

child. The Childrens Plan is designed to help the parent in planning for the above financial

needs of the child.

All the arguments on the need to save and savings being a better option than raising a loan

are applicable while selling the Childrens Plan.

Positioning of the Childrens Plan

The Childrens Plan can be positioned as a long term savings vehicle specially designed to

meet the financial requirements of the child. The plan provides for both the immediate

financial needs and the long term financial needs. In case the client is not worried about the

immediate financial needs of the child on his death then the maturity benefit option would

be suitable to him. The sum assured payable on the death in a double benefit option would

help in providing for the immediate financial needs of the child. The Accelerated benefit

works exactly like and endowment assurance plan. The guardian of the child would have

an option of either to spend the money for the immediate benefit of the child or to save the

claim amount for a future benefit.

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The maturity benefit and the double benefit could be so positioned as to pay money for

higher education or marriage of the child. This benefit would be payable irrespective of

whether the parent is living or dead.

Term Assurance PlanTerm Assurance PlanProtection of Income

Introduction

The Term Assurance Plan is a without profits protection contract designed to protect the

income earning capacity of the life assured. The present earning capacity of the client

therefore forms the basis of the insurance.

Need for the Plan

Uncertainty is a part of life. In the event of death of the breadwinner the dependents are put

to a lot of financial difficulty as they lose the source of income. The problem is

compounded in case the family does not have savings to rely on. In case a person has

dependents and also does not have savings on which the family can rely on in the event of

his death, he needs to protect his income for the benefit of the family. Term Assurance Plan

is designed to offer the protection of the income at the least possible cost.

Term Assurance Plan can also be used to cover liabilities so that in the event of death the

family receives a lump sum amount so that liabilities are paid off. Term Assurance is an

insurance of income and hence the existence of liabilities is not the basis of granting the

insurance.

Positioning of the Term Assurance Plan

The Term Assurance Plan can be positioned as an income protection plan to protect the

income in the event of the death. The plan can also be used to cover liabilities of the life

assured. The plan can also be issued to companies and partnership firms as partnership

insurance.

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The Term Assurance Plan with the ASA rider modifies the cover to pay the sum assured on

death or critical illness whichever is earlier. This cover can be very beneficial when the

liabilities are covered by the plan, as the liabilities would be repaid on critical illness.

We can position Term Assurance Plan to as to cover the future so that in case of death

before they complete the savings the family would be provided with a lump sum amount to

meet the future expenditure.

Loan Cover Term Assurance PlanLoan Cover Term Assurance PlanProtection of Loans

Introduction

The Loan Cover Term Assurance Plan is a without profits decreasing cover protection

contract designed to protect the outstanding loans of the life assured. The plan is designed

to cover loans however the plan will be granted only in case the client has sufficient

income to back the insurance.

Need for the Plan

Uncertainty is a part of life. In the event of death of the breadwinner the dependents are putto a lot of financial difficulty as they lose the source of income. The problem is

compounded in case there are outstanding loans. The Loan Cover Term Assurance Plan is

designed to cover outstanding loans at the least possible cost.

Important

Although the plan is named as Loan Cover Term Assurance Plan the plan is basically a

decreasing cover term assurance. The plan is not linked to a loan and the client can choose

to purchase this plan even in case he does not have a loan. The sum assured would decrease

at a predetermined rate and is not linked to the decrease in the loan amount. Care has been

taken to ensure that the sum assured would be sufficient to pay most of the loans. The plan

does not guarantee payment of the outstanding loan.

Positioning of the Loan Cover Term Assurance Plan

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The Loan Cover Term Assurance Plan can be positioned as protection to cover outstanding

loans.

The Loan Cover Term Assurance Plan with the ASA rider modifies the cover to pay the

sum assured on death or critical illness whichever is earlier. This would mean that in case

the client contracts a critical illness the plan would pay an amount sufficient to cover the

outstanding loan.

Single Premium Whole of Life Insurance PlanSingle Premium Whole of Life Insurance PlanPlan designed to give long-term real growth

Introduction

The Single Premium Whole of Life Insurance Plan is a with profits investment contract

which aims to give long tem real growth to the client by investing the funds as per the

IRDA guidelines and reducing claims and costs. The aim of the plan is to generate long

term real growth, providing guarantees at specific times during the term of the contract.

Need for the Plan

The Single Premium Whole of Life Insurance Plan is designed to help the client in long-

term investment. It is therefore important to understand the problems associated with

investments to sell the plan better.

However all investment is associated with risk. The higher the risk one takes, the better the

chances of getting a better return. Investment is all about taking risks.

Various investment instruments are available in the market and the client has to choose

from the investment option available. This investment instruments are designed to meet

short-term, medium-term and long-term objectives. If an instrument is designed for a short

term the same is not suitable for achieving a long term objectives. This is because the

instrument would terminate in the short term and the client would be exposed to

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reinvestment risks. Long-term investments designed to provide real growth is a solution to

the long-term needs.

The Single Premium Whole of Life Insurance Plan is designed to remove this problem of

the investors by giving insurance in the form of guarantees on death and at specific time

intervals so that the returns at these guaranteed periods do not depend on the market

conditions. These guarantees in long-term investment are very valuable and since the

product is a whole of life one, the client can continue with the investment till death.

Positioning of the Single Premium Whole of Life Insurance Plan

The Single Premium Whole of Life Insurance Plan can be positioned as along term

investment vehicle with guarantees at specific dates. The Plan is suited to help in providing

a fund for long term financial needs. The philosophy and practices of the company can help

in building the policy values for the client and hence positioning the company is also

important in the sale of the Single Premium Whole of Life Insurance Plan.

Personal Pension PlanPersonal Pension PlanSavings for a better retirement

Introduction

The Personal Pension Plan is a with profits deferred pension contract which aims to give

good pension benefits to the client by helping the client build a retirement fund. The aim of

the plan is to build good fund values so that the client can enjoy a better pension on

retirement.

Need for the Plan

Income in retirement is becoming more and more important. With the breakup of the joint

family system and the increase in longevity, it is becoming more and more important to

provide for retirement. The fall in the interest rates and the uncertainty prevailing in the

market make pensions more attractive. Pension can provide a guaranteed income till death

and hence there is a renewed interest in pension schemes in the recent years.

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There are various instruments of savings and investment, which the client can use to

provide for his retirement. A deferred pension plan has the following advantages:

I. The deferred pension plan can be issued for long terms so that the single instrument

covers the retirement need of the client.

II. The deferred pension plan automatically vests in the life assured on the date of

vesting. This is an advantage as the likelihood that the fund would be used for some

other purposes is minimized and fund would be used only for retirement.

III. Special tax benefits are available for investment in deferred pension plans.

Positioning of the Personal Pension Plan

The Personal Pension Plan can be positioned as a savings vehicle to provide for a

retirement benefit. The plan is suited to help in building a fund for retirement needs. The

guarantees in the nature of sum assured and the bonuses assure the client of a smoothened

long-term return. The philosophy and practices of the company can help in building the

policy values for the client and hence positioning the company is also important in the sale

of the Personal Pension Plan.

UNIT LINKED INSURANCE PRODUCTS

(ULIP)

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36

ULIP, AN INSURANCE PRODUCT WITH A TWO-IN-ONE

FEATURE, IS DESIGNED TO CARRY BENEFITS OF BOTH,

AN INSURANCE COVER AS WELL AS MARKET RELATED

INVESTMENT RETURNS...

A Unit Linked Insurance Plan, Popularly

Known as ULIP, is Blend of an insurance

and investment product. It combines a life

cover with an investment plan, but unlike atraditional plan money back or endowment

plan, investment returns are not guaranteed

in the case of ULIPs.

ULIP, by its nature, is not a product that is meant to maximize returns like equity investments

either directly or through mutual funds.

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Unit Linked Young Star Plus andUnit Linked Young Star Plus and

Unit Linked Young StarUnit Linked Young Star

HDFC Unit Linked Young Star & Young Star PlusHDFC Unit Linked Young Star & Young Star PlusInvest in your childs dreams, and secure your self-respect.

Invest in your childs dreams and secure

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As a parent, your priority is your children's future and being able to meet their dreams and

aspirations. Today, providing a good education, establishing a professional career or even a

modest wedding is expensive. Costs are rising fast. Just imagine how much you will need

when your children take these important steps in life.

Plan today to ensure a bright future for your children. Start saving today with our HDFC

Unit Linked Young Star Plus so that your child is able to lead a life of respect and dignity

with a secured financial future.

The HDFC Unit Linked Young Star Plus gives you:

An outstanding investment opportunity by providing a choice of thoroughly

researched and selected investments

Regular Loyalty Units to boost your fund value every year

Valuable protection to your child in case you are not around

Flexible benefit combinations and payment options

Flexible additional benefit options such as critical illness cover

Access to your accumulated fund before maturity

You can choose your premium and the investment fund or funds. We will then invest yourpremium, net of premium allocation charges in your chosen funds in the proportion you

specify. At the end of the policy term, you will receive the accumulated value of your

funds.

In case of your unfortunate demise during the policy term, we will:

Pay the Sum Assured you had chosen to your child.

Continue your policy and continue to pay the original regular premiums you hadchosen.

This means we will continue to make your savings on your behalf, in your absence. The

fund will be available for your family's use until the original Maturity Date. Use HDFC

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Standard Life's excellent investment options to maximize your savings & maximize your

child's achievements.

We will provide financial security for your child. All Unit Linked Life insurance plans are

different from traditional insurance plans and are subject to different risk factors.

HDFC Standard Life is the name of our Insurance Company and HDFC Unit Linked

Young Star Plus is the name of this plan. The name of our company and the name of our

plan do not, in any way, indicate the quality of the plan, its future prospects or returns.

Easy Steps to Your Own Plan

Step 1:Step 1: Choose the premium you wish to invest

This is the premium you will continue to pay each year of the policy. The min. regular

premium is Rs. 10,000. You can pay monthly (using Standing Instructions or ECS

Mandate), quarterly, half-yearly or annually.

Step 2:Step 2: Choose the amount of protection (Sum Assured) you desire

You can choose any amount of Sum Assured with:

A minimum of 5 times your chosen annual regular premium

A maximum of 40 times your chosen annual regular premium.

Step 3:Step 3: Choose the additional plan benefits you desire

We offer a range of valuable protection option to secure the future for your family. You can

choose any one of the following benefit options:

Life OptionDeath Benefit

Life & Health OptionDeath Benefit + Critical illness Benefit

Step 4:Step 4: Choose the investment fund or funds you desire

We have 6 funds for you. You can choose fund in which you want to invest.

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Market Analysis of company

Analysis of the Study

The investment in Unit Linked Products is a new trend introduced in India with various

Insurance Companies into this segment. This feature is rapidly growing in the Indian

Market.

Today, various investment options available in the market. The study explains that how

people of Jaipur invest their income. The following diagram explains it very well.

The study has shown that people of Jaipur are much interested in investing in Mutual

Funds and Shares than Insurance. This is because of people are interested in short-term

investment. But it is assumed by the studies that in upcoming years this rate of investment

in insurance will increase rapidly.

Among 17 insurance Companies including LIC, the HDFC Standard Life Company hasplaced its position on pinnacle. Each Company has the Unit Linked Product in its portfolio.

But HDFCs Unit Linked Products are customer centric and having special features.

HDFCs services are highly appreciable among insurance companies apart from its brand

name.

30%

25%

30%

15% Mutual Fund

Insurance

Shares

Others

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HDFC Standard Life Insurance Company is leading the market in the Returns giving to its

customers. All its competitors are behind in the aspect of Returns. Here in this given chart,

it is shown that how HDFC Standard Life Insurance Company is ahead from other life

insurance companies.

0

10

20

30

40

50

HDFC SL Bajaj

Allianz

Tata AIG Reliance

Life

ICICI Pru Kotak

Life

Aviva

Life

1-YEAR

2-YEAR

HDFC SL provides ULIP to its customer with special benefits with minimum charges. The

Policy Administration Charge and Fund Management Charge is Rs. 20/- and 0.80%

respectively, which are minimum in their category.

Beside this HDFC SL provide 24 switches free in a policy year, very ahead than 4 free

switches of ICICI Prudential, Kotak Life and 3 free switches of Bajaj Allianz Life

Insurance. HDFC SL offers the Smart Transfer Option (STO) to its customer. This is thefacility to those customers, who are unknown about the investment market and want share

this responsibility to HDFC SLs fund mangers.

Another advantage that HDFC SL has over the other Insurance Companies is the

atmosphere at the bank which makes the customers feel comfortable. The ambience of the

Company is designed according to the need of the clients. Comparing HDFC SL with other

Companies, we feel that the directions, brochures, etc are displayed in an appropriate

manner which helps the customer to avail the services required by them.

SWOT ANALYSIS

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THREAT

LICs Brand NamePeople of Jaipur prefer

short-term investment rather

than in insurance

Upcoming private insurance

companies.

STRENGTH

Country Wide Recognition

Need Base Analysis

Same Standard Services in

all Branches

Fair Deal in all Transactions

Customers Centric

Approach

Infrastructure

OPPORTUNITY

Scope in Jaipur as it is in the

developing phaseOnly 25% of insurable

people have any insurance

Higher possibility of growth

in Indian share Market

WEEKNESS

Frequent Job Rotation

Less number of

advertisements

Hidden Charges

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ORGANISATION HIERARCHY

CHART

OF HDFC S.L.I.

Organisation chart (Hierarchy)

Managing Director & Chief Executive Officer (MD& CEO)

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DISTRIBUTION CHANNEL

Distribution Channel

General Manager (GM)

Business Head (BH)

Zonal Heads (ZH)

Regional Manager (RM)

Territory Manager(TM)

Branch Manager (BM)

Sales DevelopmentManger (SDM)

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According to W.J. Stantion A Channel of distribution for a product is the route taken bythe title to the goods as they move from the producet to the ultimate consumer or industrialuser.

Different types of distribution channels used by HDFC SLI CO. Direct Channel of Distribution :- in which bank opened branches in defferent areas

of jaipur region to reach direct to the customers.

Indirect channel of distribution :- in this channel of distribution bank usesmiddlemen to reach to the customers. These middlemen are Commission Agents,M.R.E. , and S.E. etc.

Branches in India:o Andhra predesh : Abids, Balangar, Birnavarm, Bidar, Eluru,

Guntu, jublee Hills, Kakinada, Karimnagar, Kurnool, NizambadRajahmundary, Saroor Nagar, Secunderabad, Vijaywada, Vishakapatnam.o Assam : Agartala, Dibrugrah, Guwahati, jorhat, Nagaon,

Sibsagar, Silchar, Tezpur, Tinsukia.o Bihar : Patna.o Chattisgrah: Bhilai, Bilaspur.o Delhi : New Delhi, Shahadra.o Goa: Panji.

o Gujrat: Ahamdabad, Anand, Bharuch, Bharuch, Bhavnagar,Jamnagar, Kutch-Bhuj, Mehsana, Navsari, Rajkot, Surat, Vadodara, Valsad.o Hariyana: Ambala, Faridabad, Gurgaon, Hissar, Karnal, Panipat,Rohtak, Sirsa, Yamuna Nagar,

o Himachal Pradesh: Shimla.o J&k :

HDFC SLs KEY STRENGTHSHDFC SLs KEY STRENGTHS

Winners dont do different things. They do things differently

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Financial ExpertiseAs a joint venture of leading financial services groups, HDFC Standard Life has thefinancial expertise required to manage your long-term investments safely and efficiently.

Range of Solutions

HDFC Standard Life has a range of individual and group solutions, which can be easilycustomized to specific needs. Their group solutions have been designed to offer customerscomplete flexibility combined with a low charging structure.

Track Record so farHDFC Standard Lifes cumulative premium income, including the first year premiums andrenewal premiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06.They have covered over 1.6 million individuals out of which over 5,00,000 lives have beencovered through their group business tie-ups.

Awards

Over a decade of its operations, HDFC Standard Life Insurance Company Ltd. has beenrecognized, rated and awarded by a number of organizations, which include:

Winner of the Out Look Money Award for two consecutive years.Voted as the Most Respected Life Insurance Company by Business World in 2004.

Research and Methodology of training

RESEARCH METHODOLOGY

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Research is the manipulation of things concepts or symbols for the purpose ofgeneralizing to extend, correct or verify knowledge, whether that knowledge aids inconstructon of theory or in the practice of art.

Objective of Research

Major objective

Find out the financial consultant for HDFC Standard life insurance ltd.Company in jaipur.The major objective of the insurance Company is to find out those people who areinterested in insurance sector. HDFC SLI also makes financial Consultant to those peoplewho are interested in insurance sector.

Specific objectives Find out the people who are interested in insurance sector and want to be a

Financial Consultant.

Find out the total number of HDFC STANDARD LIFE INSURANCE CO. counterin jaipur.

Find out the reason of preference of the consumer to select HDFC STANDARDLIFE.

Find out particular criteria for making consumes.

Find out the competitors of HDFC SLI Company such asICICI,MAX,AVIVA,BAJAJ ALLINZE.

SAMPLE DESIGN

Sample design is a way for achieving a sample from a given population. it provides helpthe researcher would adopt in selecting items for the sample. Sample design is determinedbefore data are collected.

The proposed research is a Survey, as it covered some part of the city, under which variousclasses (Occupation , Income& Savings) of the people were discussed.

One area of the city has been covered.

Sample Size:- 175 people

METHODOLOGY

First Stage:

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Secondary Data:- Secondary data was collected from HDFC SLI Co.

Research Approach: Survey approach was opted to do this research.

SAMPLING PLAN:(A) Population Definition

Element : All customers in particular area Sample unit: One customer Extent : Jaipur city

(B) Sampling MethodsSimple Random Sampling

DATA ANALYSIS AND INTERPRITATION

Qus.1 Do you know about the field of insurance?

A. YesB. No

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C. Not aware the term insurance

80%

15% 5% Yes

No

Not aware

When I asked to people do you know about the field of insurance? Then 80% said that Yes& 15% said that No 5% said that Not aware the term insurace

Qus.2 Are you interested in doing a business with your existing job/business to earn ahandsome amount?

A. YesB. No

70%

30%Yes

No

When I asked to people are you interested in doing a business with your existingjob/business to earn a handsome amount? Then 70% said that Yes & 30% said that No.

Qus.3 How many companies do you know in insurance business?

All -------- Few ------- None -------

25%

70%

5% All

Few

None

When I asked to people how many companies do you know in insurance business? Then25% said that All & 70% said that Few & 5% said that None.

Qus.4 In which insurance company you want to join?

A. S.B.I.

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B. HDFCC. ICICID. OTHER

10%

50%

30%

10% Sbi

Hdfc

icici

other.

When I asked to people in which insurance company you want to join? Then 10% said thatS.B.I. & 50% said that HDFC & 30% said that ICICI & 10% said that other.

Qus.5 What was the purpose for taking insurance policy?

A. Life insurance

B. Tax BenefitC. Investment

40%

5%

55%

Life

insuranceTax

BenefitInvestment

When I asked to people what was the purpose for taking insurance policy? Then 40% saidthat Life insurance & 5% said that Tax Benefit & 55% said that Investment.

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Qus.6 Which schemes do you like the most of Insurance Company?

A. Money back B. Pension PlanC. Kids plan

D. Others

10%

50%30%

10% Money Back

Pension Plan

Kids Plan

Others

When I asked to people which schemes do you like the most of Insurance Company? Then10% said that Money Back & 50% said that Pension Plan & 30% said that Kids Plan &10% said that Others.

Qus.7 Customers belong to ICICI Bank are of which income level group?

A. High income level group (HILG)B. Upper middle income level group (UMILG)C. Lower middle income level group (LMLIG)D. Lower income level group (LILG)

When I search about the customers coming in HDFC SLIC belong to which category ofincome level then I found that 45% people are ofhigh income level group,30% people areofupper middle incomelevel group,20% people are oflower middle income level group,& 5% people are oflower income level group.

CUSTOMERS ON THE BASIS OF INCOME

LEVEL

HILG

UMILG

LMLIG

LILG

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LIMITATIONS

As the movement throughout the city is not possible due to certain constraints sothe movement was quite restricted.

people are not ready to go for training. As the training period is of 18 days (100 hrs)and it involves full day, so it becomes difficult for them to leave their offices orshops for such a long time.

The compulsion of selling 25 policies in six month also restricts them frombecoming advisors. if they do fulfill this target, then their licence is cancelled aftera year.

Lack of trust on any company of private sector.

Lack of knowledge about the products of HDFC Standard Life Insurance and theirtotal and blind faith on lic.

Sometimes, fresth graduates want to become advisors but the company deniesmaking them an advisor, as they are very fickle-minded and also unreliable.

Some people ask about comparative analysis with LIC and other insurancecompanies.

Non-availabilit of part time training.

All small towns are not open for doing this business.

One person cannot tank Life insurance Agency of two different Companies.

Time constraint is the biggest constraint in taking up the study.

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CONCLUSION

In the times of economy slump, where all options of investment lacks the interest of people

for one or other reason, FD still remains at the top of the mind of people as a known,

convenient and reward earning option for investing their hard earned savings but there is

not possibility of higher returns. However Mutual Funds are the first choice of small

investors for short-term game but for long-term investment it is not appropriate. Recent

global economy slow down has made negative influence on lay investor perception of

security. With the arrival of investment in insurance, people who were investing in other

options have turned their minds because of the higher returns and risk cover through out

the life. No other option gives as higher returns as par as long-term investment is concern.

HDFC SL is the leading insurance service providers to public and private sector clients and

has kept pace with the revolutionary growth of the industry by evolving a range of services

to meet the varied needs of funds groups. HDFC SL has also benefit from network and

superior processing services. The depth and breadth of the integrated suite of products and

capabilities, coupled with the investment and savings markets services fuels the ability to

help to stay competitive and successful in financial markets.

Finally to conclude, the findings emphasize that:

A majority of investors are found to be conscious and enlightened regarding their

investment, returns and growth.

Due to lack of basic promotion and publicity, people are not fully aware about the

product.

HDFC Standard Life Company should make little more efforts to trap the potential

customers.

Beside this HDFC SL has a good reputation in market by providing the right

product to right customer.

RECOMMENDATIONS

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1. HDFC SL can improve upon its efficiency by not changing its staff frequently. By

doing this bank can continue to create, maintain and grow strong relationship with

existing customers.

Idea behind this is that staff which is already working for bank is well acquainted with

the nature and wants of the existing customers.

2. Use of creative advertisements to attract more and more target customers and to create

awareness among them.

3. HDFC SL should chalk out some programs to create general awareness regarding its

presence and various services of the company.

4. Today is the era of competition. In order to increase the company network (In terms of

clients and business volumes) an aggressive approach is required.

The Bank should recruit more number of marketing personnel so that they can cover

the whole of the city and nearest villages of Jaipur. Personal marketing can be one of

the methods of modes of taking people into confidence.

5. HDFC SL should try to make its promotional activities more effectively.

6. It can use industrial magazine media as an advertising tool for approaching is market

segment.

7. Try to reduce hidden charges so as to satisfy the customers more effectively.

8. It should regularly conduct market research and surveys for knowing customers better

and for facing threat from competitors.

9. Supporting staff should be appointed.

QUESTIONNAIRE

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PURPOSE: TO PROMOTE THE CONCEPT OF INSURANCE FROM

HDFC STANDAR LIFE AS A BUSINESS OPPUETUNITY AND

CREATING AWARENESS.

Name: -------------------- Qualification: ------------------

Age: -------------------- Profession: --------------------

Tel no: -------------------

Q.1 Do you know about the field of insurance?

o Yes

o No

o Not aware the term insurance

Q2. What is the basic factor that you consider before picking up a business opportunity?

o Monetary Benefit.

o Recognition

o Flexible timing and one s own boss

o All of the above

Q3. According to you what is Insurance?

o Investment tool

o Tax saving tool

o Security

o All of the above

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Q4. Are you associated with HDFCSL Insurance co.?

o Yes

o No

If yes, then how? ____________________

Q5. Do you know that HDFC is no. 1 Life insurance Company?

o Yes

o No

Q6. Do you think that insurance is highly paid business?

o Yes

o No

Q.7 Do you have your own vehicle?

Yes ---------- No --------------

Q.8 What was the purpose for taking insurance policy?

Life insurance -------------- Tax Benefit ------------ Investment ---------

Q.9 Are you interested for becoming an advisor of HDFC SLI Company?

Yes ------------- No ------------------

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BIBLIOGRAPHY

Fact sheet of HDFC Standard Life Company Weekly Newspaper of RNIS (Ritu Nanda Insurance Services) Institute HDFC SL Intranet

Magazines

Business world

Business today

Business India

Newspaper

Economic times

Times of India

Dainik Bhasker

Business Standard

Websites

www.hdfcinsurance.com

www.google.com (Search Engine)

www.yahoo.com (Search Engine)

www.wikipedia.com
http://www.hdfcinsurance.com/http://www.google.com/http://www.yahoo.com/http://www.wikipedia.com/http://www.hdfcinsurance.com/http://www.google.com/http://www.yahoo.com/http://www.wikipedia.com/

hdfc(done..)

Documents