Summer Training Project On BIRLA SUNLIFE

OBJECTIVE
 To determine and analyze the Market Potential of the Birla Sun Life
Insurance Company in Lucknow City.
 To study the overall scenario currently prevailing in the market, namely,
the per capital income, purchasing power, occupation, literacy rate, etc.
 To study and determine the competitor position in the market.
To do a performance evaluation of Birla Sun Life Insurance products in

comparison on with other insurance companies
DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

INTRODUCTION
Life Insurance

Life insurance
Life insurance (Life Assurance in British English) is a type of insurance. As

in all insurance, the insured transfers a risk to the insurer. The insured pays a
premium and receives a policy in exchange. The risk assumed by the insurer
is the risk of death of the insured.
How life insurance works
There are three parties in a life insurance transaction; the insurer, the
insured, and the owner of the policy (policyholder), although the owner and
the insured are often the same person. For example, if John Smith buys a
policy on his own life, he is both the owner and the insured. But if Mary
Smith, his wife, buys a policy on John's life, she is the owner and he is the
insured. The owner of the policy is called the grantee (he or she will be the
person who will pay for the policy). Another important person involved is
the beneficiary. The beneficiary is the person or persons who will receive
the policy proceeds upon the death of the insured. The beneficiary is not a
party to the policy, but is designated by the owner, who may change the
beneficiary unless the policy has an irrevocable beneficiary designation.
With an irrevocable beneficiary, that beneficiary must agree to changes in
beneficiary, policy assignment, or borrowing of cash value.
The policy, like all insurance policies, is a legal contract specifying the
terms and conditions of the risk assumed. Special provisions apply,
including a suicide clause wherein the policy becomes null if the insured
commits suicide within a specified time for the policy date (usually two
years). Any misrepresentation by the owner or insured on the application is
also grounds for nullification. Most contracts have a contestability period,
also usually a two-year period; if the insured dies within this period, the

insurer has a legal right to contest the claim and request additional
information before deciding to pay or deny the claim.
The face amount of the policy is normally the amount paid when the policy
matures, although policies can provide for greater or lesser amounts. The
policy matures when the insured dies or reaches a specified age. The most
common reason to buy a life insurance policy is to protect the financial
interests of the owner of the policy in the event of the insured's demise. The
insurance proceeds would pay for funeral and other death costs or be
invested to provide income replacing the deceased's wages. Other reasons
include estate planning and retirement. The owner (if not the insured) must
have an insurable interest in the insured, i.e. a legitimate reason for insuring
another person’s life. The insurer (the life insurance company) calculates the
policy prices with an intent to recover claims to be paid and administrative
costs, and to make a profit. The cost of insurance is determined using
mortality tables calculated by actuaries. Actuaries are professionals who use
actuarial science which is based in mathematics (primarily probability and
statistics). Mortality tables are statistically based tables showing average life
expectancies. The three main variables in a mortality table are age, gender,
and use of tobacco. The mortality tables provide a baseline for the cost of
insurance. In practice, these mortality tables are used in conjunction with
the health and family history of the individual applying for a policy in order
to determine premiums and insurability. The current mortality table being
used by life insurance companies in the United States and their regulators
was calculated during the 1980s. There is currently a measure being pushed
to update the mortality tables by 2008.
The current mortality table assumes that roughly 2 in 1,000 people aged 25
will die during the term of coverage. This number rises roughly quadratic
ally to about 25 in 1,000 people for those aged 65. So in a group of one
thousand 25 year old males with a $100,000 policy, a life insurance
company would have to, at the minimum, collect $200 a year from each of
the thousand people to cover the expected claims. The insurance company
receives the premiums from the policy owner and invests them to create a
pool of money from which to pay claims, and finance the insurance
company's operations. Contrary to popular belief, the majority of the money
that insurance companies make comes directly from premiums paid, as
money gained through investment of premiums will never, in even the most
ideal market conditions, vest enough money per year to pay out claims.
Rates charged for life insurance increase with the insured's age because,
statistically, a people are more likely to die as they get older.
Since adverse selection can have a negative impact on the financial results
of the insurer, the insurer investigates each proposed insured (unless the
policy is below a company-established minimum amount) beginning with
the application, which becomes part of the policy. Group Insurance policies
are an exception. This investigation and resulting evaluation of the risk is
called underwriting. Health and lifestyle questions are asked, and the
answers are dutifully recorded. Certain responses by the insured will be
given further investigation. Life insurance companies in the United States
support The Medical Information Bureau, which is a clearinghouse of
medical information on all persons who have ever applied for life insurance.
As part of the application, the insurer receives permission to obtain
information from the proposed insured's physicians. Life insurance
companies are never required by law to underwrite or to provide coverage
on anyone. They alone determine insurability, and some people, for their
own health or lifestyle reasons, are uninsurable. The policy can be declined
(turned down) or rated. Rating means increasing the premiums to provide
for additional risks relative to that particular insured.

Many companies use four general health categories for those evaluated for a
life insurance policy. These categories are Preferred Best, Preferred,
Standard, and Tobacco. Preferred Best means that the proposed insured has
no adverse medical history, is not under medication for any condition, and
his family (immediate and extended) have no history of early cancer,
diabetes, or other conditions. Preferred is like Preferred Best, but it allows
that the proposed insured is currently under medication for the condition
and may have some family history. Most people are in the Standard
category. Profession, travel, and lifestyle also factor into not only which
category the proposed insured falls, but also whether the proposed insured
will be denied a policy. For example, a person who would otherwise be in
the Preferred Best category will be denied a policy if he or she travels to a
high risk country.
Upon the death of the insured, the insurer will require acceptable proof of
death before paying the claim. The normal minimum proof is a death
certificate and the insurer's claim form completed, signed, and often
notarized. If the insured's death was suspicious and the policy amount
warrants it, the insurer may investigate the circumstances surrounding the
death, before deciding whether there is a legal obligation to pay the claim.
Proceeds from the policy may be paid in a lump sum or as an annuity paid
over time in regular recurring payments for either for the life of a specified
person or a specified time period.

COMPANY PROFILE

Birla Sun Life Insurance Company Limited (BSLI) is a joint venture
between the Aditya Birla Group and Sun Life Financial Inc., a leading
international financial services organisation. The local knowledge of the
Aditya Birla Group combined with the expertise of Sun Life Financial Inc.,
offers a formidable value proposition to customers.
Sun Life Financial and its partners today have operations in key markets
worldwide, including India, Canada, the United States, the United Kingdom,
Hong Kong, Philippines, Japan, Indonesia, China and Bermuda. Sun Life
Financial Inc. had assets under management of over US$ 386.82 billion, as
on 31 March 2007. Sun Life Financial Inc. is a leading performer in the life
insurance market in Canada.
BSLI in its five successful years of operations has contributed significantly

to the growth and development of the life insurance industry in India. It
pioneered the launch of Unit Linked Life Insurance plans amongst the
private players in India. It was the first player in the industry to sell its
policies through the Bank assurance route and through the internet. It was
also the first private sector player to introduce a pure term plan in the Indian
market. This was supported by sales practices, which brought a degree of
transparency that was entirely new to the market. The process of getting
sales illustrations signed by customers, offering a free look period on all
policies, which are now industry standards were introduced by BSLI.
Being a customer centric company, BSLI has invested heavily in technology

to build world class processing capabilities. BSLI has covered more than
one and a half million lives since inception and its customer base is spread
across 100 cities in India. All this has assisted the company in cementing its
place amongst the leaders in the industry in terms of new business premium

income. Birla Sun Life Insurance (BSLI), one of the leading private life
insurers in India today announced the inimitable achiever, cricketer Kapil
Dev as their corporate brand ambassador. The cricketing supremo will be
endorsing BSLI in all its marketing initiatives. Birla Sun Life Insurance is a
value-driven brand which has a national brand recall of 70 per cent. The
objective of appointing a brand ambassador is to grow its brand recall as it
goes national in its distribution reach and fuel business growth. As a brand
ambassador, Kapil Dev will play a key role in the brand and product
marketing and promotional activities. BSLI has always used an integrated
marketing approach, which will be strengthened further.
Commenting on the association with Kapil Dev, Mr. S. K. Mitra, Director,

Financial Services, Aditya Birla Group and currently incharge of BSLI
expressed, "The Birla Sun Life Insurance business distribution network is
national in nature covering more than 1000 points across the country .We
have made our entry in several tier I and tier II towns. It is therefore very
important for the brand to connect at the grassroot level and create trust. We
believe that our association with Kapil Dev as our brand ambassador will
help us create this connect in a shorter period of time. We therefore now
have two strong connects — our parent brand Birla and our brand
ambassador Kapil Dev".
Kapil Dev, also known as the Haryana Hurricane, was born on 6 January
1959 in Chandigarh. He played his first competitive game of cricket at the
age of 13 years and made his test debut on 16 October 1978 at Faisalabad
against Pakistan. Kapil Dev remained India's top strike bowler for almost 15
years. His extraordinary test match figures of more than 5000 runs and 434
wickets along with 64 catches show that he was a world class cricketer and
an all-rounder. He has raised the mantle of India to sporting glory by
winning us the World Cup.
In a study conducted by BSLI, Kapil Dev connected extremely well with the
life insurance category and had high acceptance by the masses. Our survey
suggests that he is seen as a very good fit for the BSLI brand. He is very
much loved and respected by a vast majority of the population.
On 26 November 2006, Birla Sun Life was host the annual golf tournament
at the Chembur Golf Club in Mumbai where Kapil Dev was participate.
About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited is a joint venture between the
Aditya Birla Group, one of the largest business houses in India and Sun Life
Financial Inc., a leading international financial services organisation. The
local knowledge of the Aditya Birla Group combined with the expertise of
Sun Life Financial Inc., offers a formidable protection for your future.
Birla Sun Life Insurance (BSLI), in its five successful years of operations,
has contributed significantly to the growth and development of the life
insurance industry in India. It pioneered the launch of unit linked life
insurance plans amongst the private players in India. It was the first player
in the industry to sell its policies through the banc assurance route and
through the internet. It was the first private sector player to introduce a pure
term plan in the Indian market. This was supported by sales practices which
brought a degree of transparency that was entirely new to the market. The
process of getting sales illustrations signed by customers and offering a free
look period on all policies, which are now industry standards, were
introduced by BSLI. Being a customer-centric company, BSLI has invested
heavily in technology to build world class processing capabilities. BSLI has
covered more than a million lives since inception and its customer base is
spread across more than 1000 towns and cities in India. All this has assisted

the company in cementing its place amongst the leaders in the industry in
terms of new business premium income. The company's current capital base
is Rs.520 crore.
About the Aditya Birla Group
The Aditya Birla Group has a turnover close to Rs.38,000 crore (as on 31
March 2008) and is one of the largest business houses in India. It enjoys a
leadership position in all the sectors in which it operates. With over 75
business units spanning the South East Asian belt, Africa, Canada and the
UK among others, it is reckoned as India's first multinational corporation.
The group is anchored by 72,000 employees and has seven lakh
shareholders, with a market capitalization of Rs.53,400 crore.
About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial services

organisation providing a diverse range of wealth accumulation and
protection products and services to individuals and corporate customers.
Tracing its roots back to 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia,
India, China and Bermuda. As of 31 March 2008, the Sun Life Financial
group of companies had total assets under management of US$ 343 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol "SLF".

VISION

VISION
To be a world class provider of financial security to individuals and

corporates and to be amongst the top three private sector life insurance
companies in India

MISSION

MISSION
To be the first preference of our customers by providing innovative, need

based life insurance and retirement solutions to individuals as well as
corporates. These solutions will be made available by well-trained
professionals through a multi channel distribution network and superior
technology.
Our endeavour will be to provide constant value addition to customers

throughout their relationship with us, within the regulatory framework. We
will provide career development opportunities to our employees and the
highest possible returns to our shareholders

SWOT ANALYSIS
STRENGTH :
 Multi-channel distribution and one of the largest

distribution networks in India.
 Implementing Six-Sigma process.
 Customer centric products and services.
 Superior investment and risk management framework

 1 Million Policies sold within 3 and half years.
 Company has maximum number of MDRT as well as
good number of HNI advisors.

 Training process of the company is very strong.
 Different plan for different peoples
 According to the change in surrounding environment
like changes in customer requirement.

WEAKNESS:
 COMPANY does not penetrate on the rural market at a

time.
 There is no plan for the low income group.
 Fees for the advisor is high than the other company.
OPPORTUNITY:
 Insurance market is very big, where company can expand

its horizon in insurance industry.
 Though good investment and insurance it is easy to top
Indian customers.
 The huge insurance market (77%) is left so company has
opportunity to expand our products.
 To associate with the more number of HNI.
THREATS:
 ‘OLD HABITS DIE HARD’: Its still difficult task to win the
confidence of public towards private company.
 The company is facing major threats from LIC -which is an
only government company.
Plans for all income groups is not available which can create
adverse effect later on the market share of the company.

KEY PEOPLES OF ORGANISATION

BOARD OF DIRECTORS
Mr. Kumar M Birla

Mr. Donald A Stewart,
Mr. Bishwanath N Puranmalka
Mr. Ajay Srinivasan
Mr. Gary M Comerford
Mr. Suresh N Talwar
Mr. Gian P Gupta
His Highness Maharaja G Singh
Mr. Stephan Rajotte
Dr. Bharat K Singh
INVESTMENT COMMITTEE
• Mr. B. N. Puranmalka
• Mr. Eugene Lundrigan
• Mr. Ajay Srinivasan

• Mr. Vikram Mehmi
• Mr. Mayank Bathwal
• Mr. Fabien Jeudy
• Mr. Vikram Kotak
• Ms. Keerti Gupta

Management
Team
Mr. Vikram Mehmi Mr. Mayank Bathwal
President & Chief Chief Financial Officer
Executive Officer
Mr. Mario Braganza Mr. E.N. Goveia

Chief Operating Officer Head - Direct Sales
Force
Mr. Amit Punchhi Mr. Bhavesh Sanghvi

Senior Vice President - Head - Group Life &
Third Party Distribution Pensions
Mr. Snehal Shah Ms. Anjana Grewal

Senior Vice President - Senior Vice President -
Operations Marketing &
Communications
Mr. Rajesh Bhojani Mr. K.H.

Senior Vice President - Venkatachalam
DSF Expansion Vice President - Human
Resource
Mr. Fabien Jeudy Mr. Lalit Vermani

Vice President, Chief & Vice President -
Appointed Actuary Compliance
Mr. Melvyn D'souza Mr. Vikram Kotak

Vice President - Risk Vice President -
Management and Investments
Internal Audit
Mr. Bhalachandra
Nayak
Vice President - Strategy

DETAILS
OF
PRODUCTS

Individual Life

Protection
Birla Sun Life Term Plan

Premium Back Term Plan
Saving
Birla Sun Life Insurance Gold-Plus
Supreme Life
Dream Plan
Classic Life Premier
Simply Life
Prime Life Premier
Prime Life
Life Companion
Flexi Cash Flow
Flexi Save Plus
Flexi Life Line
Single Premium Bond
Retirement
Flexi Secure Life Retirement Plan II
Children
PRODUCTS
Insurance Plans
Life is unpredictable. But in face of adversity, our

responsibilities towards our parents, children and loved ones
need not be compromised. Insurance planning equips you to
smooth out the uncertainties and adversities that life might send
your way, so that the best that life has to offer, secure in the
knowledge that your beloved ones are well provided for.
BSLI offers a complete range of insurance products
1. Protection Plans
2. Savings Plans
3. Child Plans
4. Investment Plans
5. Retirement Plans
6. Group Plans
7. Rural Plans
8. Plans for NRIs
9. Keyman Plans
10. Riders

Protection Plans
BSLI offers LifeGuard - a set of pure protection plans. Choose

from amongst three different product structures to insure your
life and provide total security to your family, at a very
affordable cost.
Level Term Assurance with return of premium
 On death the entire sum assured will be paid.
 On maturity, all the premiums paid will be returned.
Level Term Assurance without return of premium
 No survival or maturity benefits.
You can also enhance the above two policies by adding Accident
& Disability Benefit Rider and Waiver of Premium Rider (WOP) .
Level Term Assurance - Single premium:

 No survival or maturity benefits

Savings Plans
BSLI offers a variety of policies that give you the benefits of

protection and the opportunity to save for important assets or
events, like a home, a car or a wedding.
A regular premium unit-linked insurance plan with an assurance

of Capital Guarantee# with the added advantage of flexible
liquidity option. An ideal plan for long term planning with the
benefit of liquidity.
The key features of the plan are:
 Flexibility to choose a specific level of protection (Sum

Assured), based on a multiple of the annual premium. You
can also choose the term of the plan.
 At the end of the term, the higher of the value of units or
the guaranteed value* is paid. On death, Sum Assured
along with the higher of value of units or the guaranteed
value is payable.
 Facility to make withdrawals from the 6th policy year
onwards till the end of the policy term. Every year
withdraw up to 10% of the value of units.
 Additional credits payable as a percentage of the initial
annual premium are paid along with the death or maturity
benefit.
 Additional insurance for 10 years after the maturity, for an
amount of 50% of the Sum Assured.

 Flexibility to make additional investment with the help of
the top-up facility.
 Flexibility to increase / decrease your annual premium
amount
 Facility of Automatic Premium Payment- With this facility
you can take a temporary break from premium payment. **
 Total transparency with the premium allocations, and other
charges declared upfront.
 The guaranteed value of the unit fund is the value of all
invested premiums (premiums net of all charges) along
with the declared bonus interests.
** With Automatic Premium Payment facility, you can avail a

temporary break from premium payment for a maximum of 1
year. This facility is available once if the premium paying
term is less than 15 years and twice, if it is 15 years or more.
You can also enhance your policy by adding Accident &

Disability Benefit Rider , Waiver of Premium Rider and
Critical Illness Rider .
A regular premium unit-linked insurance plan with an assurance

of Capital Guarantee# An ideal plan for your long-term savings
and protection requirement.

The key features of the plan are:
Assured), based on a multiple of the annual premium. You can

also choose the term of the plan.
 At the end of the term, the higher of the value of units or the
guaranteed value* is paid. On death, Sum Assured along with
the higher of value of units or the guaranteed value is payable
benefit.
 Additional insurance for 10 years after the maturity, for an
amount of 50% of the Sum Assured.
 Flexibility to make additional investment with the help of the
top-up facility.
amount
 Facility of Automatic Premium Payment- With this facility
you can take a temporary break from premium payment.

The guaranteed value of the unit fund is the value of all

invested premiums (premiums net of all charges) along with
the declared bonus interests.
With Automatic Premium Payment facility, you can avail a

temporary break from premium payment for a maximum of 1
year. This facility is available once if the premium paying
term is less than 15 years and twice, if it is 15 years or more.
The capital guarantee is applicable only on the invested
premium and the declared bonus interests.

Disability Benefit Rider, Waiver of Premium Rider and Critical
Illness Rider.
A unit-linked insurance plan with an assurance of Capital

Guarantee which offers you the benefit of a limited premium
payment term. An ideal plan for protection with wealth creation
that offers the flexibility of a limited premium paying term.
 Flexibility to choose a premium payment term of 5, 7 or 10

years for a maturity term of 10, 15 or 20 years respectively.
Assured), based on a multiple of the annual premium.
 At the end of the term (maturity), the higher of the value of
units or the guaranteed value* is paid. On death, Sum Assured

along with the higher of value of units or the guaranteed value
is payable.
benefit.
 Facility to make withdrawals from the 6th policy year
onwards till the end of the policy term. Every year withdraw
up to 10% of the value of units
 Flexibility to make additional investment with the help of the
top-up facility.

amount
 The guaranteed value of the unit fund is the value of all
invested premiums (premiums net of all charges) along with
the declared bonus interests.
The capital guarantee is applicable only on the invested

premium and the declared bonus interests.

Disability Benefit Rider and Critical Illness Rider.
Presenting Premier Life – The Preferred plan for the Preferred

Customer. The key features of the plan are:
 Limited premium payment option: Choose from among a 3, 5,

7 or 10 year premium paying term.
 Choice of sum assured: Choose a sum assured, which is a
minimum multiple of 1 and a maximum multiple of 25 times
the annual contribution.
 Additional allocation of units on a periodic basis.
 Facility to top-up your investment any time you have surplus
funds.
 Choose from among four funds, based on your investment
objective and risk appetite.

 Choice to switch between investments options (4 free
switches every policy year).

Flexibility to decrease your sum assured.
 Add-on riders to protect you against any eventuality.

 Loans against the policy.
You can also enhance your policy by adding Critical Illness

Rider, Accident & Disability Benefit Rider.
Presenting Life Time – unit –linked plans that meets your changing needs
over a lifetime. These solutions have been developed to meet your savings, protection
and investment needs at every stage in life.
Protection
 Choose a specified level of protection (available only with

LifeTime).
 Two levels of Sum Assured to choose from (available only
with LifeTime II).
 Flexibility to increase or decrease your sum assured.
 Add-on riders to protect you against any eventuality.

Savings
 Flexibility to increase or decrease your contribution.

 Facility of Premium Holiday, wherein the policy continues
even if there is a temporary break in the payment of annual

contribution (available only with Life Time).
 Facility of Automatic Cover Continuance, wherein the policy
continues even if there is a temporary break in the payment of
annual contribution
 Facility to top-up your investment any time you have surplus
funds.
 Additional allocation of units on a periodic basis.
 Loans against the policy.
Investment:
 Choose from among four funds, based on your investment

objective and risk appetite.
 Choice to switch between investments options (4 free
switches every policy year).

Rider, Major Surgical Assistance Rider, Accident & Disability
Benefit Rider, Accident Benefit Rider (available only with Life
Time) and Waiver of Premium Rider

.
An insurance plan that gives added protection, savings and

multiple options, all in one!
 The flexibility to choose your premium contribution.

 The flexibility to choose amongst three levels of cover (in the
form of sum assured) for the same amount of total annual
contribution.
 The flexibility of shifting between the three levels of cover,
as you require.
 The flexibility of receiving your maturity proceeds as a lump
sum or in equal annual installments over 3 or 5 years.
You can also enhance your policy by adding Variety of

Riders
An insurance plan that gives you added protection, savings,

multiple options, plus the power of liquidity.
 The flexibility to choose your premium contribution.

 The flexibility to choose amongst three levels of cover (in the
form of sum assured) for the same amount of total annual
contribution.
 The flexibility of shifting between the three levels of cover,
as you require.

 The flexibility of receiving your maturity proceeds as a lump
sum or in equal annual installments over 3 or 5 years.
 The flexibility of withdrawing up to 10% of the accumulated
value of your policy, after the first 5 policy years.
You can also enhance your policy by adding Variety of Riders
An ideal plan for those who want to accumulate funds on a

regular basis while enjoying insurance protection.
 Guaranteed Benefits: Guaranteed additions @ 3.5% of the
Sum Assured, compounded annually for the first 4 years of the

policy.
 Extended Life Cover: An extended cover for 5 years after the
maturity of the policy, for 50% of the sum assured, at no extra

cost.
 Maturity Benefit: At the end of the term, the policyholder
receives the full sum assured, the guaranteed additions and

the vested bonuses.
 Death Benefit: The beneficiary receives the sum assured, the
guaranteed additions and the vested bonuses incase the life

assured were to meet with an unfortunate event. In case the
life assured is aged 7 years or less, the basic premium paid
will be returned.

Rider , Major Surgical Assistance Rider , Accident & Disability
Benefit Rider , Waiver of Premium Rider (WOP)
Child Plans
As a responsible parent, you will always strive to ensure a

hassle-free, successful life for your child. However, life is full
of Uncertainties and even the best-laid plans can go wrong.
Here’s how you can give your child a 100% safe and assured
tomorrow, whatever the uncertainties. Smart Kid is especially
designed to provide flexibility and safeguard your child’s future
education and lifestyle, taking all possibilities into account.
Choose from amongst a basket of 4 plans:
 Smart Kid regular premium
 Smart Kid unit-linked regular premium
 Smart Kid unit-linked regular premium II
 Smart Kid unit-linked single premium II

All these plans offer you:
 Financial Benefits: Regular payments at critical stages in
your child’s life, like Board examinations, Graduation and

Post-graduation.
 Total peace of mind, even if you are not around
 Sum Assured is paid immediately: Ensures that your
loved ones stay financially secure, even in your absence.

 All future premiums are waived: Ensuring that your
family is not financially burdened in your absence.

 Policy benefits continue: The educational benefits of the
policy continue, ensuring that your child can realize his or

her dreams without any hassles.
 Development Allowance: Smart Kid guarantees regular
income to secure your child’s educational career and also

ensures his or her all-round development, for a nominal
additional amount. The Income Benefit Rider takes care of
this through an annual payment of 10% of the sum assured,
to your child, till the maturity of the policy, in the
unfortunate event of the death of the parent.
All SmartKid plans can be enhanced with the Accident &
Disability Benefit Rider and Income Benefit Rider . You
can also an Accident Benefit Rider to a SmartKid Regular
Premium policy, and a Waiver of Premium Rider (WOP)
to SmartKid unit-linked regular premium policy.

Investment Plans
Life Link II is a unique plan that combines the

security of a life insurance policy with the opportunity of
enjoying high returns on your investments, without the market
risks compromising on the protection of your family!
Death Benefit: The Sum Assured under the product has 2

options, either 500% of the initial premium or 105% of the
initial premium. In the event of an unfortunate death, the
beneficiary will receive higher of the value of units or the initial
death benefit, less any withdrawals.
Withdrawal Benefit: One can make partial withdrawals from the

accumulated value of the policy after completion of one policy
year.
Flexibility: Choose from four fund options, based on your

investment objective and risk appetite. If at a later stage your
financial priorities change, you can switch between the various
fund options, absolutely free, 4 times a year.

Retirement Plans
Life Expectancy has been rising rapidly and today you can
expect to live longer than your earlier generations. For you, this
increase will mean a longer retirement life, stretching into a
couple of decades. BSLI Retirement Solutions that combine the
best of insurance and investment. These solutions are developed
to ensure your peace of mind for the years to come.
1. Why plan for retirement?
2. How much should I set aside for retirement?
3. The impact of inflation on your retirement savings
4. Why plan early?
5. About Annuities
Why plan for retirement?
For too many people, the joy of retirement after years of

hard work is eclipsed by the financial uncertainties that it
brings. Despite all the planning and saving, you can never sure
whether your money will last a lifetime. Retirement planning
offers a way to ensure a more enjoyable, stress free tomorrow. A
prudent plan will ensure that increasing life expectancy, higher
inflation and increasing taxes do not eat away into your hard
earned savings.

How much must I set aside for retirement?
To ensure a comfortable retired life, you would be wise to

invest money into additional avenues like pension plans. How
much you need to invest can be answered by answering some
questions such as:
1. How long do you have to save that amount before

retirement?
2. Where can you invest your retirement money?
3. How much risk are you willing to take on your
investments?

Group Solutions
In an era of competitive parity, the only asset that makes a

decisive difference between corporate success and failure is the
quality of human capital. Employee benefits have proven to be
an excellent tool to optimize the retention of talent and improve
an organization’s bottom-line. The quality of an organization’s
employee benefits establishes and maintains a company's image
as a caring employer. Optimum care of employees is a long-term
investment that results in a sustained competitive advantage for
an organization in the times to come.
BSLI Group Solutions Advantage:
 An integrated basket of employee benefits solutions that

offer incomparable flexible benefits.
 Sound investment management that focuses on safety,
stability and profitability of the portfolio.
 Personalized financial planning for your employee that
takes care of his/her changing financial needs at every
stage of life.
 Quality service initiatives and transparency across all
operations, promising superlative operational efficiency.

Group Term Assurance : Helps provide affordable cover to
members of a group.
Group Gratuity Plan : Helps employers fund their statutory

gratuity obligation in a flexible and hassle-free manner.
Group Superannuation Plan : A flexible scheme (defined

benefit and defined contribution) to provide a retirement kitty
for each member of the group.
Group Term Assurance:
BSLI flexible group term solution helps provide affordable

cover to members of a group. The cover could be uniform or
based on designation/rank or a multiple of salary, and can be
extended to all employees between the ages of 18 and 65 years.
The benefit under the policy is paid on the event of the
member ’s death to the beneficiary nominated by the member. It
is a one-year renewable policy where one master policy covers
all proposed employees comprising the group, with a minimum
group size of 25 persons. New members can join the group and
outgoing members can leave the group at any point during the
policy term.

Highlights include:
 Greater convenience for the employees with relaxed

underwriting and medical requirements.
 "Free Cover Limits" with simplified underwriting
depending upon the number of employees in the group and
the level of cover chosen.
 Guaranteed benefit: On death during the term of the
contract (while in service), the sum assured will be paid to

the beneficiary of the employee.
 Choice of additional coverage in form an Accident and
Disability Benefit Rider and Critical Illness Cover
 Premium is viewed as a business expense in the year of
payment.
Group Gratuity Plan:
BSLI group gratuity plan helps employers fund their gratuity

obligation in a scientific manner. Employers can avail of the tax
benefits as applicable to approved gratuity funds. The plan can
also be customized to structure schemes that can provide
benefits beyond the statutory obligations.
Highlights include:
 Wider choice of investments with Market Linked Plans -
to meet the diverse financial goals. We offer 4 investment

options (short-term debt, debt and balanced and capital

guarantee plan) where investments will be made in
accordance with the fund objectives.
 Transparency through Daily disclosure of Unit Value and
regular disclosure of the portfolio of each of the investment

option
 Flexibility through switching and contribution redirection
option to enable reshuffling of portfolio

 Bundled Life Cover greater value to the employee by
packaging life insurance cover with the gratuity, with

minimal amount of underwriting.
 Actuarial services to provide a scientific estimation of the
gratuity liability.
 Low explicit charge structure with the conditions for exit
specified upfront.
 Enhanced service levels through faster claim settlement,
easier access to information and regular statements.

 Complete end to end solution in the legal and regulatory
approval process for scheme set up or transfer
Employee Benefits:
 The contribution made by the employer is not included in

the value of taxable perquisites in the hands of the
employee.
 Gratuity received up to Rs 350000 is exempt from Income
tax under Sec 10(10)
Employer Benefits:

 Annual contribution up to 8.33% of salary bill in a
financial year is allowed a deduction for the purpose of
computation of profits and gains of business.
 Contribution towards past service liability is allowed as
deduction as per the Income Tax rules.
Group Superannuation Plan:
BSLI Superannuation Scheme (for both Defined Benefit and

Defined Contribution funds) offers substantial benefits to both
employers and employees. The employer and employee can avail
of tax benefits applicable to an approved superannuation trust.
The scheme will provide for a retirement fund for each
participating employee. An employee would be able to choose
from various annuity options or opt for partial commutation of
corpus at retirement.
Highlights include:
 Wider choice of investments with Market Linked Plans - to
meet the diverse financial goals. We offer 5 investment

options (short-term debt, debt, balanced, growth and
capital guarantee plan) where investments will be made in
accordance with the fund objectives.
 Control - Each member/employer can exercise greater control
over investments by choosing one or more of the investment

options.
 Multiple Annuity Options - 5 annuity options and open
market option

 Transparency - Transparency through Daily disclosure of
Unit Value and regular disclosure of the portfolio of each of

the investment option
 Flexibility - Flexibility through switching and contribution
redirection option to enable reshuffling of portfolio

 Low explicit charge structure with conditions for exit
specified upfront.
 Enhanced service levels through faster claim settlement,
easier access to information and regular statements.

 Complete end to end solution in the legal and regulatory
approval process for scheme set up or transfer
Rural Plans
BSLI Rural Products are designed to meet the needs of the rural
consumers. These products offer the following features:
1. Low and Affordable Premiums
2. Life Cover
3. Savings Option
4. Hassle free procedure
BSLI offers 2 specially designed rural plans.
a) BSLI – Endowment Plan

b) BSLI - Regular Premium
BSLI Endowment Plan:
BSLI offers the following features:

 Life Cover and Savings
 Regular Premiums
 Age at entry 18 - 45 Yrs
 Premium Mode Half Yearly / Yearly
 Term 5,10,15 Yrs
 Sum Assured Rs.5,000 -20,000
 Premium / Year Rs. 507 - 553 ( SA: Rs.10,000)
 Maturity/Death benefit Sum Assured
BSLI - Regular Premium:
BSLI is a regular premium policy with the following features:
 Individual policy
 Only Life cover
 Term - 3 & 5 Yrs
 Age independent premium
 Age at entry 18 - 45 Yrs
 Sum Assured Single
 Premium / Year Rs 50 – 200
 Maturity/Death benefit Rs.5,000 - 20,000
 Death Benefit Sum Assured

Plans for NRIs
NRI Plans:
Being away from India doesn't mean you have to compromise the
safety and security of your loved ones. In fact, your savings
from your time overseas can be easily canalized to meet your
family's needs - now and in the future. So, whether its your
dream to retire in your hometown; to secure funds for your
children's education; or to build assets, BSLI has a range of
solutions that can be customized to meet your needs.

IRDA
(INDIAN REGULATORY DEVLOPMENT
AUTHORITY)

IRDA:
The insurance sector has been opened up in India, as there was an
urgent need. The international experience indicates those country with a
liberalized insurance sector have witnessed a rapid growth in premium
volumes enhancing the domestic saving rate. This happened in China,
Malaysia and Singapore where a competitive market has led to
improvement in Services and quicker settlement of claims. It is also
important to note that competition will bring about advancement in
information, communication and technology. And rightly therefore a
decision was taken by the Government of India to open up Insurance sector.
The establishment of IRDA in the month of April 2000 has been important
development in this direction, making the end of monopoly in the insurance
sector.
WHY INSURANCE IN INDIA:
• Only 22% of the insurance population has been extended cover.

Market penetration is low and the potential to exploit is high.
• Insurance premium per capita is very low.
• Lack of comprehensive social system benefit and welfare means that
demand for pension products is high.
• Huge middle class of approximately 300 Million.
• Existing insurance company score low on customer service front.
The insurance market registered growth in the Asian region even though
India’s share in global insurance is less than 0.5% (1988) as compared to
USA (24.2%) and Japan (21%). Studies have reveled that in an emerging
market, as disposable income rises, Insurance premiums as a ratio of GDP
shoots up. The confederation of Indian Industry projected a growth of Life
Insurance premiums from Rs. 350 Billion at present to Rs.140 Billion. The
growth of non-life insurance premium is expected to increase from 75
billion to 375 billion. Out of which, only 10% is tapped by the existing
insurer.
Insurance even more than banking is a volume game. A very

exclusive approach in view is unlikely to provide meaningful numbers.
Currently, insurance is bought for the purpose of tax-benefits. A higher
percentage of business is in the rural market. The share of rural new
business insurance total new business is 55% in terms of policies and 47%
in terms of sum assured. However, this needs to be viewed in the light of
some recent issues that have been raised regarding as to what constitutes the
rural market. Therefore, private insurers will be best served by middle
market approach, targeting the customer segments that are presently
unexploited.
How many Indians are aware that LIC has more than 60Products and
GIC has more than 180Products? Not only there is a reduction in the
premiums of Life Insurance products have long overdue since Indian
morality rate has decreased three folds in the last 50years. There is also
scope to increase the yield on life insurance policies (presently 6%) with
proper risk management in place.
It is been debated that insurance business does not produce profit in

the first five years cross subsidization is a feature of Indian market. Even the
first portfolio vote that is considered profitable, cross subsidizes other
departments. Tariffs reduction is likely to reduce profits; further insurers
have to institute proper claims management progress in order to extract
efficiencies. At present life insurance business in the country is taxed at
12.5% of the profit in financial year. The government is soon to present a
new model of taxing life insurance companies at international rates.
New entrants should be well advised to look ahead to the stage where
brand strength will be a competitive advantage and sketch their alliances
accordingly. In fact, we believe that alliance related to distribution rather
than to produce or technology will prove most valuable in the long run.
Banks and financial companies will emerge, as attractive distribution

channel for this insurance trend will be led by two factors, which already
apply in other world market. First Banking food insurance, fund
management and other financial services companies are being to increase
their profitability and provide maximum value to their customers.
Therefore, they are themselves looking for a range of products to distribute.
In other market notably Europe; this has resulted in bank assurance.

Bank entering into the insurance business in India to bank hope to maximize
expensive existing network by selling a range of products more of a loss
alliance between insurance and bank than a formal ownership. Some Indian
entrants like ICICI, HDFC and Reliance hope to ride their existing network
and customer bases.

CHANNEL DEVELOPMENT
 WHY TO RECRUIT
 WHO TO RECRUIT
 HOW TO RECRUIT
 RECRUITMENT ACTIVITIES
 WHAT TO CHECK WHILE WE ARE RECRUITING
 ROLE OF ADVISOR
 WORKING ENVIRONMENT
 DO YOU POSSESS
 SUPPORT PACKAGE FOR SCUCCESSFUL ADVISOR
 EXTENSIVE TRAINING FOR SUCCESSFUL ADVISOR
 EXTENSIVE INVESTMENT IN ADVISOR TRAINING
 PAYMENT & BENEFIT – COMMISSION STRUCTURE
 RECOGNITION PROGRAMS
 CAREER PROGRESSION & FUTURE OPPORTUNITIES

WHY TO RECRUIT
There are two aspects of employment in the insurance sector

today. One is Permanent Employment, for sales, operation, IT
support, back office services and So on. We are also offering the
other kind of employment –for people to sell Life Insurance –
they are called ‘Life Advisors’. Or ‘Financial Advisors’. This
is a big area of employment.
• Because we are supposed to!!

• That the way to do this business.
• More recruits, more active advisors, more BDA
WHO TO RECRUIT
Quality Deptt. has given some indicators in terms of what are the
common traits(Q-SCORE) of our successful advisors-
The commonalities were
 Age : between 30 -45

 Education : graduate
 Family Income : above Rs. 2 lacs p.a.
 The important fact to remember is that 61% of our RED
category advisors do not fall into any of this category.
• This is a broad pointer for us to remember what are the

his/her profile
• Some other pointer from Quality

• Most of the RED category advisors FAILED in the DISC
profile – which means that DISC is good indicator of chanced
of success or failure
• Successful advisors usually have 2 years of work exp. In their
current profession
• Small time businessmen / entrepreneurs –v. successful profile
• Women/Housewives are very successful- however they have
not been sustainable over long periods. They usually have
become inactive after 6 – 7 months of joining. But till the
time they are working, their average WAPI & Productivity is
very high compared to others.
• People who are new to the city are least probable to do well.
Who to recruit?
• High probability of Success

• Tax/ Financial Consultants, CAS
• Bond / Mutual Fund Agents
• LIC Agents – Surrogates
• Small business owners

 Average Profile
• Women
• Students
• VRS / retired Personnel
 Avoidable Profiles
• New to the City

• Income Profile – Approx Rs.1 Lac P.A.
• People who do not own their transport
 THE MOST SUCCESSFUL PROFILE – THE PERSON
WHO HAS BEEN MANAGED WELL BY YOU.
How to Recruit?
 Things which you should have while meeting the prospect.

 BOP Presenter.
 Reward points booklet OR take a copy of the catalog from
the website – show the gifts, a prospect wouldn’t
understand points, but will value the gifts.
 Advisor Manual - can show how the manual can answer
many procedural issues.
 Talk about email id & tech support – the prospect would
like to know what all ill the company give
 My Market show 100 – show the booklet and stress its
importance.
 Copy of any certificate – MDRT certificates, Sales
Champion certificate etc to show recognition.
 Insist on doing the BOP presentation – it gives a complete
picture of what you have to present & answers a lot of
questions.
 Stress on different things to different profiles – change
your proposition as per the customer.

 Women – Rewards, - gift items, household goods, gold
 Young marketing background – career Pinnacle.

 Tax/ MF/ LIC Agents – Rewards & Recognition, Star
Clubs.
 CAs – foreign trips, preferential treatment in all aspects,
don’t talk about commissions, stress on the extras.
 Small businessman / Entrepreneurs – show ROE – Return
on Energy , to the earn the same amount of money from

your business, you would be spending much more time &
energy a lot of capital from your pocket.
THE POWER RENEWAL COMMISSIONS:
 Always, always, always stress on the fact that renewal

commissions ARE THE differentiator from every other sort
of business
 Spend lot of time on the Commissions structure given in
the BOP
 Try to do an example in front of them trying to portray the
commissions payable for the same amount of business done
every year
 THE EARNING CALCULATOR WILL BE OF THE HELP
HERE

Recruitment Activities
 Each of us should have a mix of
Mass Media Activities - Spray &

Lead Generation activities
Pray
Database calling, cold calling,
Ads, Classified, paper Inserts, tele-calling, mailers, mass
Pamphlets, Banners BOPs, fish bowl activity, Yellow
Pages, Trade Directories etc.
Over the last one year, the We need to develop lead
response from this basket of generation activities more so as
activities has gone down to have more people to touch
drastically, thus forcing us to be upon and tell about this career
creative to create other avenues opportunity
• Activities which have done well with us in the recent past:
 Joggers Park
 Summer Trainees
 Mass BOPs
 Database Calling
 Lead Generation Activities
 Tele Calling set ups
• Some more ways on how to recruit:
 Database Attack – can be done through a trainee.

 Cold Calling – helps a lot as the respondent does not
waste your time by dilly dallying.

 RWA Activities – Tambola or children painting
competition- gives real time leads, cost effective per
lead.
 Look at level MBA colleges for Pinnacle probable.
 Source local databases – Cable TV Service providers,
home delivery caterers.
 Fish Bowl Activity- in high football places.
Things to check while recruiting:
• ENERGY, ENERGY ……… always check the person’s

energy levels, as this career is all about meeting new
people, finding new prospects and more so handling
rejections
• His past/ present occupation gives tremendous insight into
his energy levels
• Show him the path in his current environment how
insurance selling can fit in – lowers the resistance of time
availability
• Check his environment – his family locality
• Check whether he can work on his own
• Find out if he is looking for money or career – as he can
have both here
Things to check while recruiting:
• Always try to meet the person at his residence- check for the
locality, his household, standard of living, try to involve the
spouse in the presentation so that they know what they are
getting into
• Always check on need for money & a drive to do well in life
– if he has been doing well in life, he will make efforts to do
well with us
• Ask questions about his past, find instances of
accomplishments
• Keep checking on the pointers & do a mental check list of the
acceptable points
• Be convinced about the profile and then only go ahead
Advisor Role
• To provide ongoing financial advice for his/her client:
 Identify future client

 Making appointments
 Conduct financial review meetings with prospects / clients
 Close sale
 Get referrals
 Provide service to clients
• Follows internal sales & reporting systems:
Working environment:
 To be part of a world class sales team.

 Work from your own office or residence.

 Work full time or part time.
 Earn commission, bonus $ incentives.
 No upper limits in earnings.
 Flexible career.
Your opportunity:
 No startup capital required.

 Flexible working environment.
 Be your own boss.
 Unlimited earning potential.
 To be part of world - class team.
Extensive training to make you a professional advisor:
• State-of-the-art training on :
 Selling skills.
 Product knowledge.
 Relationship skills.
Training delivery through several convenient options :
 Face –to- face.

 Online.
 Self learning.
Some of our high performers get….

YEAR 1 YEAR 2 YEAR 3
Number of policies sold 50 75 100
Average Premium Rs. 16000 16000 16000
Total primium earned Rs. 1200000 1600000
800000
Average commission 270000 360000
including bonuses estimates
180000
@ 22.5%*
Earnings from new business 180000 270000 360000
Rs
Commission on renewal 48000 72000

premium @ 6%
For year 2,3 & 3% after 48000
that
Earnings from renewal 48000 120000
business Rs
Total earnings Rs. 180000 318000 480000
 Depending on the product mix commission can go upto
35% in of first year, 7.5% in the 2 n d year & 3 r d year & 5%

4 t h year onwards?

• Recognition programs :
 Foreign trips & seminars.

 Select club memberships:
1. Birla Sun Life club.
2. Birla Sun Life star club.
 MDRT Membership.
Career progression & future opportunities:
• Exclusive program for high potential achievers.

• Hand picked advisors.
• A fast track career path.
• Recognition as “Tiger “
• Continue doing your business.
• Criteria.
 -Age –25 –40 years
 -At least 1 year in system
 -Case count 2 per month
• Part time career as a Trainer.

• Conduct foundation programs.
• Share best flied practices.
• Replicate your business.
• Continue doing your business.
• Criteria.

-Age 25-45 years
-At least 6 months s in system
- 2 case count per month
Fast track pinnacle programmes:
• A full time career as audit manager

• Greater earning potential
• Personal Development
• Performance criteria
-Age 25-45 years
-At least 6month in system
-30 issuance within 6 months
Pinnacle programmes:
• A full time career as a unit manager

• Greater earning potential
• Personal Development
• Performance criteria
-Age 25-45 years
-At least 1 year in system

-Average 2 case count per month
Agency champion:
 Take your business to the next level
 Entrepreneurs ,develop your own business
 Recruit new advisor and make your own team
 Increased reach and earning potential
 Criteria
-At least 1 year in system
-Minimum 36 policies and 3.6lacs premium
-Selection process( assessment center)
Next steps
 Confirmation of mutual interest
 Selection interview
 Profiling test dates
 Draft payment favoring
 Birla Sun Life Insurance Ltd’
 payable in mumbai
 Finalize Training Dates, venue
Support team the Company:
 Field visits
 Training on products
 & selling skills

 regular business reviews
 be a coach & mentor
 recognize high performers
 help you become financially independent
Expectations of team
• Achieve sales targets

• Participate in all meetings
• Attend all training programs
• Weekly reviews at the office
• Follow the sales process
• Follow weekly reporting process

INSURANCE ADVISOR AGREEMENT
Insurance advisor it is a kind of agreement done between advisor to

be recruited and Birla Sun life Insurance Company Ltd.
BSLI is desires of appointing the as its Insurance advisor for

soliciting and procuring life Insurance business for on behalf of BSLI and to
provided various services the policy holders. Similarly Insurance advisor
has to obtain and Insurance license to act and Insurance agent under Section
42 of Insurance act 1938 and it’s desires of being appointed as Insurance
advisor of BSLI
This is the kind of agreement which each and every advisor has to
adhere. It’s agreement give the brief discussion effective date of
appointment, area of Insurance, advisor minimum performance requirement
and service standards others conditions confidentially to be maintain and
compensation and remuneration.

2. Effective Date and Appointment as Insurance Advisor:
2.1- This Agreement shall come into force on and from the date of
issue of the license to the Insurance Advisor to act as an insurance
agent, provided that the Company may choose, in writing, a date other
than the date of issue of the license on and from which this Agreement
shall come into force (such date of coming into force to this Agreement
referred to as “ Effective Date ” in this Agreement). However, where the
Insurance Advisor already holds a valid subsisting license before execution
of this Agreement, the Effective Date of this Agreement shall be the date of
execution of this Agreement.
2.2- BSLI hereby appoints the Party of the Other Part as Insurance Advisor
and the Party of the Other Part hereby accepts his appointment as an
Insurance Advisor of BSLI .
2.3- The appointment, continuance and functioning of the Insurance Advisor
shall
be also governed by and shall be subject to the provisions of the Applicable
Laws.

3. Business Area of Insurance Advisor:
3.1- The Insurance Advisor will be entitled to solicit insurance business
from such
territories (and whether in India only or outside of India as well ) as shall be
informed to the Insurance Advisor separately (such area referred to as
“Business Area” and, area other than Business Area will be referred to as
“Non-Business Area”). Where the Insurance Advisor proposes to source
business from any Non- Business Area, he shall obtain the prior approval of
BSLI. would be entitled to change / transfer his appointment to any other
area.
3.2- The Insurance Advisor further agrees that even within his Business
Area, he shall not solicit or procure life insurance business from any
place/location which is on the list of Non-Serviceable Pin codes
(“Serviceable Pin code” refers to pin codes of such areas where BSLI can
provide customer service to its customers / policyholders, and any pin code
other than Serviceable Pin code refers to “Non- Serviceable Pin codes”).
The list of Serviceable Pin code areas as updated from time to time, Is
available/posted on the Restricted Website Area and no separate
communication in this regard will be sent.
3.3- The appointment of the Insurance Advisor for a Business Area shall
be without prejudice to BSLI’s right to appoint any other insurance
advisor(s) in / for the same Business Area and such appointment of any
other insurance advisor(s) shall not entitle the Insurance Advisor to claim
any relaxation in the Minimum Performance Requirements applicable to
him, nor shall accrue in his favour any cause of action.
4. Minimum Performance Requirements and Minimum Service
Standards:
4.1- The Insurance Advisor shall at all times fulfill the Minimum
Performance
Requirements in terms of new business, premium income, number of
proposals, number of lives insured or on any other criteria as stipulated by
BSLI from time to time (hereinafter referred to as the “Minimum
Performance Requirements”). BSLI may stipulate from time to time the
Minimum Performance Requirements and any revision thereto, for a
specified period(s) or for any shorter period(s) within such overall specified
period(s) or to specify the Insurance Product(s), which the Insurance
Advisor shall solicit and procure for BSLI . The Minimum Performance
Requirements (MPR) criteria would be intimated by BSLI to the Insurance
Advisor in writing or by Email or by posting the same on the Restricted
Website Area.
4.2- The Insurance Advisor would take all reasonable steps to conserve the
insurance procured by him. He shall also endeavor that the policyholders for
whom the is acting as the insurance adviser pay their premiums regularly
and timely. The Company will be entitled to fix minimum service standards
/ service measures (collectively ‘Minimum Service Measures’) in respect of
the Insurance Advisor. Such Minimum Service Measures would be
intimated by BSLI to the Insurance Advisor in writing or by Email or by
posting the same on the Restricted Website Area and the action that can be
taken in case of the Insurance Advisor not being able to achieve the
Minimum Service Standards.
5. Other conditions:
5.1- Without prejudice to the generality of the application of the provision of
Applicable Law, the Insurance Adviser shall scrupulously follow, adhere to
and affirm to comply with the Code of Conduct prescribed by the Insurance
Regulatory and Development Authority (Licensing of Insurance Agents)
Regulations, 2000, as amended from time to time (hereinafter referred to as

the “Code of Conduct”) as though the said Code of Conduct has been
explicitly set out in and forms part of this Agreement.
5.2- The Insurance Advisor shall not allow or offer to allow, either directly
or indirectly, as an inducement, to a prospect or a policyholder, to take out
or renew or continue a policy, any rebate of the premium payable under the
Policy or of the commission payable to him; nor shall he offer any other
rates, advantages, terms or conditions than those offered by BSLI. The
Insurance Advisor specifically confirms his awareness of and continued
adherence to the provisions of Section 41 of the Insurance Act, 1938.
Breach of this clause will entitle BSLI to terminate this Agreement forth
with and without any notice.
5.3- The Insurance Advisor agrees and undertakes to abide by the following
conditions:
5.3 a- The Insurance Advisors shall not to obtain / seek / provide / give
undue favors or graft from / to any employee of BSLI or any co-advisor or
any person, customer or policyholder of BSLI.
5.3 b- The Insurance Advisors shall not accept / give gift of substantial
value (greater than Rs 1,000 or such amounts as BSLI may specify ) from /
to any employee of BSLI or any co-advisor or any person, customer or
policyholder of BSLI in connection with any matter or dealing concerning
BSLI 5.3 c- The Insurance Advisor shall operate with values and standards
befitting the standing of BSLI.
5.4- In the event of violation of Code of Conduct or any of the guidelines /
operating instructions of the Company or on happening of any act of
commission or omission which constitutes a malpractice, BSLI shall be
entitled, without prejudice to its right of termination of this Agreement, to
warn the Insurance Advisor or require it to take any steps or do any act in
rectification of any such act, and Insurance Advisor agrees to act in
accordance with any such communication.
5.5- The Insurance Advisor shall be responsible for the accuracy,
truthfulness and completeness of the information furnished in the Agent’s
Confidential Report in proposal forms logged by him or otherwise made
available to BSLI in respect of any proposal.
5.6- The Insurance Advisor shall, promptly and in any case not later than the
time stipulated by BSLI in that behalf transmit to the concerned office of
BSLI all proposals for insurance and all other documents procured or
received by or called for from him. This would include but shall not be
restricted to customer’s / policyholder’s proposal forms, supporting or other
documents, information, payment instruments, letters / communications
addressed to BSLI and documents relating to assignment / nomination,
Insurance Advisor shall ensure compliance with Section 64 VB of the Act.
5.7- The Insurance Advisor shall not and is not authorized to accept any
money, in case from any prospect / customer / policyholder. Where any
such person wishes or proposes to make any payment in cash, the Insurance
Advisor shall direct him to the appropriate office of BSLI for making such
payment personally or advise him of the permissible modes of payment to
BSLI. Insurance Advisor can accept cheque, demand draft or other payment
instruments (not being a bearer cheque) from a prospect or a policyholder if
and only if they are drawn in the name of BSLI. Without prejudice to the
other provisions of this Agreement providing for indemnification to BSLI
by the Insurance Advisor, the Insurance Advisor specifically confirms and
undertakes to hold BSLI safe, harmless and indemnified at any time and at
all times against any demand, claim , action or proceeding arising from any
breach, whether intended or not, of the provision of this clause. The
Insurance Advisor further confirms that where he accepts any cash in breach
of this clause, he shall be acting an agent of the customer / policyholder till
the time the cash in deposited by him with BSLI, and will continue to be

such agent till he continues to hold any cash accepted from such customer /
policyholder.
5.8- The Insurance Advisor shall attend all meetings, workshops, trainings
and briefings conducted by or on behalf of BSLI to create / enhance
awareness as to the Insurance Products, business plans and policies of BSLI
and any other matter of relevance to them of which reasonable notice has
been given to the insurance advisor. In particular the Insurance Advisor shall
attend all training and refresher sessions for Insurance Advisors unless
prevented by a cause, which in the opinion of BSLI is reasonable.
5.9- Where the Insurance Advisor intends to bring out or publish any
material in any form through any medium, concerning BSLI, its business or
its Insurance Products, the Insurance Advisor shall obtain prior written
approval of BSLI. Further, he shall observe, follow and comply with the
provisions of the Insurance Regulatory and Development Authority
(Insurance Advertisements and Disclosure) Regulations, 2000 of the same.
5.10- The Insurance Advisor shall solicit and procure life insurance business
for BSLI and discharge his obligations under this Agreement in accordance
with BSLI’s corporate objectives and with particular regard to BSLI’s image
and standing in the industry and in the community.
5.11- The Insurance Advisor shall observe, follow and comply with all the
communication, directions and instructions given by BSLI from to time,
either generally or with particular reference to the Insurance Advisor. Such
communications, directions and instructions may be sent by courier, email,
post, and fax or may be posted on the Restricted Website Area.
5.12- The Insurance Advisor shall familiarize himself with the Application
Law as in force time to time and which has a bearing on the discharge of
his obligations as an insurance agent; provided that in the event of any
change in the Applicable Law resulting in a dilution or abrogation of his
obligations under this Agreement, to the extent not provided otherwise, the
Insurance Advisor shall continue to be bound by the obligations as were
existent prior to such change, unless expressly approved in writing by BSLI,
or unless inconsistent with Applicable Law.
5.13- The Insurance Advisor shall not solicit or procure life insurance
business for or promote the sales or distribution of the Insurance Products of
any other Insurance company or seek or obtain or commence any
employment in any other life insurance company so long as this Agreement
is in force and for a period of six months after its termination. BSLI may
however in writing waive the conditions under this sub clause.
5.14- The Company will be entitled to levy charges of deduct them from
amounts payable to the Insurance Advisor as it may deem fit in respect to
any of the services provided by the Company to the Insurance Advisor.
6. Compensation and Remuneration:
6.1- As compensation and remuneration for the due performance of his
obligations under this Agreement, the Insurance Advisor shall be paid
commission at such rates as may be notified by BSLI to the Insurance
Advisor from time, subject to deduction of applicable taxes under the law in
force from time to time in respect of policies effected through the insurance
Advisor; provided that the Insurance Advisor may be paid commission for
effecting the revival of lapsed policies subject to the provision of Sub-
section(2A) of Section 40 of the Act. The Insurance Advisor agrees to
provide his income tax PAN number, or if acquired subsequently,
immediately after the same has been so acquired. In the event of failure to
provide PAN number, the Company will be entitled to block the payments
of the Insurance Advisor.
6.2- BSLI shall be entitled to deduct the service tax (or any similar tax, in
lieu of or in addition to service tax), including any cess, surcharge or similar
tax thereon, from the commissions or any other amounts payable to the

Insurance Advisor. However, in best commercial interests BSLI may decide
to recover only a part of such taxes and bear the rest.
6.3- BSLIshall be entitled to revise (upwards or downwards) the rates of
commission, as in force from time to time, by notice in writing to the
Insurance Advisor in any one of the following manner.
6.3 a- by a written notice to the Insurance Advisor; or
6.3 b- by posting the revised rates on the Restricted Website Area; or
6.3 c- providing copies of the revision to all the offices, branches, outlets or
franchisees of BSLI.
6.4- The Insurance Advisor shall be deemed to have notice of the revised
commission rates at the earliest of (a) on receipt of the written notice as per
(a) above; or (b) publication or posting on the Restricted Website Area as
per clause (b) above; or (c) copies of such revision being made available to
BSLI office, branch, outlet or franchise nearest to the address of the
Insurance Advisor as per clause (c) above.
6.5- BSLI shall be entitled to specify (and revise) differential commission
rates for different Insurance Products and based on various parameters
including new business premiums, renewal premiums, business done by
Insurance Advisor etc.
6.6- In case of any excess or wrong payment of commission or any amount
to the Insurance Advisor or any commission or any amount which
subsequent to their payment becomes recoverable or receivable from the
Insurance Advisor for any reason whatsoever, BSLI shall be entitled to
adjust such amounts (which have been paid in excess or wrongly or have to
be received / recovered back ) in the subsequent payment(s) to the Insurance
Advisor, Alternatively, or where no amounts are due to the Insurance
Advisor, BSLI will require the Insurance Advisor to repay or refund
forthwith such amounts, and thereafter the Insurance Advisor shall repay the

amount within 15 days after the receipt of any communication from BSLI
in that regard.
6.7- The payment of commission to the Insurance Advisor after the
termination or cessation of this Agreement or payment of commission to the
legal heirs of a deceased Insurance Adviser shall be as provided in the
Applicable Law and in accordance with such other communications or
guidelines of BSLI as may be specified in this behalf.
6.8- Notwithstanding the above, BSLI shall not be obliged to pay any
commission or remuneration to the Insurance Advisor if the termination is
on account of fraud or any criminal conduct or serious violation of
Applicable Law.
7. Miscellaneous provisions:
7.1- All forms, applications, documents, properties or securities received by
the Insurance Advisor for or on behalf of BSLI shall be held by him in trust
for BSLI, and shall be promptly handed over to BSLI. Upon termination or
cessation of this Agreement the Insurance Advisor shall promptly deliver /
return, to BSLI in good condition all forms, application, documents,
properties or securities and all sales literature, manuals and computer
software received from or for or on behalf to or provided by BSLI In the
event of failure of the Insurance Advisor to do so, BSLI shall be entitled to
inform about such failure to IRDA, to organizations with which the
Insurance Advisor has employment or to his business associates including
any insurance company of which the Insurance Advisor becomes or
proposes to become the insurance advisor, and further I BSLI will not
furnish the NOC to the Insurance Advisor till such time the failure
continues.
7.2- The Insurance Advisor shall indemnify and keep indemnified and save
harmless at all times BSLI in respect of any indebtedness cast on BSLI or
in respect or any claim, loss or damage or any action or proceeding of
whatever nature or for any notices or expenses arising out of or caused by
any act of omission of the Insurance Advisor in relation to any matter
specified in this Agreement or breach of any provisions under this
Agreement failing which BSLI may, without prejudice to any other right or
remedy available to it under law, recover such debt, claim, loss, damage or
expenses from any money due and payable to the Insurance Advisor.
7.3- The Insurance Advisor shall allow officers of BSLI (including its
auditors and advisors), authorized in writing by BSLI , to inspect and make
copies of all / any records maintained by the Insurance Advisor in relation to
any subject matter under this Agreement.
8. Confidentiality:
8.1- All records, information and documents pertaining to BSLI or any of
its customers / prospect / policyholder, including any personal data obtained
from or for on behalf of or provided for BSLI and the contents of this
Agreement will constitute Confidential Information. For the purpose of this
clauses, any data, information or knowledge will also constitute
Confidential information which is not in public knowledge and whether or
not marked or identified as confidential and which is disclosed by BSLI to
the Insurance Advisor and whether written, oral or in any other form
(including without limitation, computer storage, tape or other electronic
media forum).
8.2- The Insurance Advisor undertakes and aggresses not to disclose,
directly or indirectly, and in any manner what so ever, whether during the
currency of this Agreement or any time thereafter Confidential Information.
However, such obligation of confidentiality will not apply in one or more of
the following:
8.2 a- if and to the extent the disclosure is required by any law or any court,
government agency or regulatory authority;

8.2 b- if the information is or becomes available to public (other than as a
result of prior unauthorized disclosure by the Insurance Advisor);
8.2 c- if the information is or was received from a third party not known by
the Insurance Advisor to be under a confidentiality obligation with regard to
such information; or
8.3 d- if the Insurance Advisor is able to prove that the was lawfully in
possession of the information (having been received on a non-confidential
basis)
8.3- The Insurance Advisor aggress not to disclose or provide copies of any
such materials, documents and other information, which are meant for
internal circulation only, to any third parties.
9. Intellectual Property Rights:
9.1- The intellectual property rights (in the nature of trademark or copyright
or any other right) in the brand name , product names, logos, designs, colour
schemes, names, marks, designs, drawings, colour, artistic work / manner
etc (hereafter collectively referred to as “marks”) as may be allowed by
BSLI to be used by the Insurance Advisor shall vest solely and exclusively
and at all times in BSLI and the Insurance Advisor aggress and undertakes
not to set up an adverse claim in respect to the Marks at any time either
during the currency of this Agreement or at any time thereafter. The
Insurance Advisor also agrees and undertakes that it shall not allow the
usage of Marks by any other third party.
9.2- The Insurance Advisor is permitted to use only such Marks in the
course of providing services under this Agreement as agreed to by BSLI in
writing. Where any such permission is given for use of any Marks (one or
more), such permission will operate as a limited, revocable and non-
exclusive permission for usage of such Marks and shall be subject to
conditions and restrictions as may be specified. The permissions granted or
to be granted will not include the permission / right, copy, modify, merge, or
transfer the Marks or any of them. The Insurance Advisor agrees and
undertakes no to alter or modify any Marks or add any content to the Marks.
He further agrees not to remove, conceal or obliterate any copyright, credit-
line, date-line or other proprietary notice included in any document,
material, or other of BSLI . Any goodwill generated through the Insurance
Advisor’s use of the Marks shall inure solely to the benefit of BSLI.
10. Usage of Restricted Website Area:
10.1- The Insurance Advisor understands that BSLI provides certain
information specific to insurance advisors on the Restricted Website Area.
BSLI will provide, but without any obligation, such login ID to the
Insurance Advisor to access contents specific to the Insurance Advisor. The
Insurance Advisor agrees that they shall be fully responsible for any action
taken through the Restricted Website Area by using his login ID and
password. In the event there is any unauthorized usage or access noticed by
the Insurance Advisor, he shall immediately bring the same to the notice of
BSLI . It is clarified that BSLI will not be obliged to provide or pay for the
cost of any internet connectivity, hardware and software that the Insurance
Advisor may require for access to the Website or Restricted Website Area.
The Insurance Advisor further agrees, confirms and undertakes not to use
the Website for any purpose other than the permitted purpose, and not
permit any other person to access the Restricted Website Area through his
login ID and password.
11. Term and Termination:
11.1- This Agreement shall come into effect from the Effective Date and
shall continue to be effective unless terminated in accordance with the
provisions provided herein.
11.2- This Agreement shall terminate:
11.2.a- immediately and without any notice on the death of the Insurance
Advisor:
11.2.b- immediately and without any notice on the presentation of a petition
for the adjudication of the Insurance Advisor as insolvent:
11.2.c- forthwith by a written notice on any violation by the Insurance
Advisor of any provision of the Application Law; or
11.2.d- forthwith by a written notice on the Insurance Advisor where he
incurs any of the disqualifications mentioned in clauses(b), (c) or (d) of
Sub-section (4) of Section 42 of the Act, whether or not his license to act as
an insurance agent is cancelled.
11.2.e- forthwith by a written notice where it is found that the Insurance
Advisor has (i) sought / obtained employment or insurance agency of any
other life insurance Company (ii) indulged in any act of commission or
omission in consonance with the direct competitors of BSLI.
11.3- This Agreement shall terminate on the expiry of 15 days notice served
by BSLI on the Insurance Advisor if he-
11.3.a- fails to discharge the obligations under this Agreement to the
satisfaction of BSLI, or commits breach of any of the provisions of this
Agreement and does not remedy the same within 7 days of a notice to that
effect from BSLI. No notice of remedying a breach will be given if it is not
capable of being remedied.
11.3.b- acts in a manner prejudicial to the interests of BSLIor to the
interests or its Policyholders. Without prejudice to the generality of the
foregoing the Insurance Advisor shall be deemed to have acted in a manner
prejudicial to the interests of BSLI , if any averment in the Agent’s
Confidential Report or in any document submitted by him in connection
with a proposal for insurance or application for reinstatement of a Policy is
found to be incorrect or untrue.
11.3.c- is found to have made any false or incorrect averment or suppressed
any information, considered material by BSLI, in his application for
appointment as Insurance Advisor;
11.3.d- in the opinion of BSLI, becomes physically or mentally
incapacitated to discharge the obligations under this Agreement;
11.3.e- he fails to achieve the Minimum Performance Requirements or
Minimum Service Standards as specified from time to time.
11.4- Notwithstanding anything contained in this Agreement, both parties
shall have at all times right to terminate this Agreement by written notice to
the other of 15 days without assigning any reason for such termination.
11.5- Upon termination of this Agreement in whatsoever manner BSLI shall
be entitled to publish notices in newspapers and / or in any other media and
/ or to dispatch correspondence notifying the policyholders, customers,
branch offices, franchisees, other insurance advisors and the general public
of the termination of the agency of the Insurance Advisor and he being no
more authorized to solicit or procure life insurance business for BSLI or to
represent BSLI in any manner. Further, upon such termination, BSLI shall
also be entitled to forthwith stop / suspend payment of any commission
whether or not due in respect of any business done by the Insurance
Advisor.
Save as provided in the Insurance Act, no commission shall accrue to the
Insurance Advisor from the termination of this Agreement.
12- The Insurance Advisor shall not be entitled to assign his rights and
obligations hereunder to any person whomsoever. Nothing in this
Agreement shall prohibit BSLI’ sentitlement to assign the Agreement
and / or any of its rights and obligations hereunder to any person
whomsoever.

Research Methodology

While making a study we very often look for what type of research
methodology is to be used in this type of study. For implementation of a
proper research methodology we have to first understand the meaning of
research.
Research is a process with the help of which new concepts arises. It is the
increase in the actual knowledge stock. It can be called as movement from
known to unknown and vice-versa. It is also a continuous process. It is a
scientific as well as systematic process, which includes defining and
redefining the problem to develop hypothesis, to collect and define the
information/data, to analysis the information and bring out the mother of
Discovery. An individual makes the effort in research and society or public
takes its benefits because the results are usually generalized.
Data collection
The word data means any raw information, which is either quantitative
or qualitative in nature, which is of practical or theoretical use. The task of
data collection begins after a research problem has been defined and
research design chalked out. While deciding about the method of data
collection, the researcher should keep in mind that there are two types of
data primary and secondary.
Primary data: -
This is those, which are collected afresh and for the first Time, and thus
happen to be original in character. There are many ways of data collection
of primary data like observation method, interview method, through
schedules, pantry Reports, distributors audit, consumer panel etc. The Team
Managers and employees of both the Department were consulted to get
information about procedure of both the online and off line share trading.
But the method used by us for the primary data collection was through
questionnaires.

Questionnaire method
For the collection of primary data I used questionnaire method. A formal list
of questions, which are to be asked, is prepared in a questionnaire and
questions are asked on those bases. There are some merits and demerits of
this method. These as under: -
Merits: -
1. Low cost even when universe is large.
2. It is free from bias of interviewer.
3. Respondents have proper time to answer.
4. Respondents who are not easily approachable can also be reachable.
5. Large samples can be made.
2. Secondary data: -
These are those data, which are not collected afresh and are used earlier also
and thus they cannot be considered as original in character. There are many
ways of data collection of secondary data like publications of the state and
central govt., reports prepared by researchers, reports of various associations
connected with business, Industries, banks etc. And the method, which was
used by us, was with the help of reports of the company.
Sample Size
We have meet 250 peoples during requirement Advisor and policy selling
after that I have taken 25 Peoples they have fill up the questionnaire and
given response .

Ques. Which Birla Sun Life Scheme does you have?
No of Peoples Have BSLI Plan
Health,
10%
Retierment
Health
, 22%
Retierment
Life
Life, 68%
Inference
On the basis of above analysis it has been concluded that around 68% of the policy
holders are having life plan, 22% of them are having Retirement plan and rest of them
are having the health plan.

Question. Are you satisfied with the Insurance plan you have?
No. of people satisfied with the plan
28%
Yes
No
72%
Inference
On the basis of the analysis it has been concluded that around 72%of the people are
satisfied with plan they and rest if them are not satisfied.

Ques. Are you satisfied with the services provided by the company
regarding new plans and schemes?
No. of people satisfied with the

services provided by the company
18%
Yes
No
82%
Inference
On the basis of the above analysis it has been concluded that around 82% of the policy
holders are satisfied with the services provided by the company and rest of them are not
satisfied.

Ques. Are you interested to make more investments in BSLI ?
No. of Peoples want to more

investment in BSLI
33%
Yes
No
67%
Inference
On the basis of the above analysis it has been concluded that around 67% of the
policyholders are interested to make more investments in BSLI and rest of them are not
interested.

Ques. Have you any other Insurance Plan apart from BSLI?
No. of Peoples have other Insurance

Plan apart from BSLI?
22%
Yes
No
78%

LIC
12%
8% BSLI
11% BAJAJ ALIYANZ

60% ICICI
9%
Others
Inference
From the above analysis it has been concluded that around 89% of policy holders are
having other insurance plans apart from BSLI , in which around 60 % are having LIC
insurance plans, 11% are having Bajaj Allianz, 9% are having Birla Sunlife, 8% are
having ICICI Pru. and 12% are having other company insurance plans.

Ques. If you get any attractive plan than are you ready to switch over?
People ready to switch to attractive

Schemes if offered by other
companies
18%
Yes
No
82%
Inference
On the basis of the above analysis it has been concluded that around 82% of the policy
holders are ready to switch over if they get good attractive insurance plan and rest of
them don’t.

FINDINGS ABOUT THE
SELECTIONS OF NEW ADVISOR

Findings # 1
Male Vs Female Respondence

27%
Male
Female
73%
Findings # 2
Marital Status of Respondent
39%
61%
Married Unmarried

Findings # 3
Age of
Respondent
18% 2%
53%
27%
Less 25 25-35 35-45 Above 55
Findings # 4
Qualification Of Respondent
27% 16%
57%
12th Graduation Post Graduation

Findings # 5
Dependent Of Respondent
15%
23%
62%
None Two Above Two
Findings # 8
Annual Family Income of

Respondence
7% 23%
17%
53%
Less 100000 100000-200000

200000-400000 Above 400000

Findings # 10
Interest In Extra Earning
24%
76%
Yes No

ANALYSIS
Finding-1 shows the difference between the male & female

respondent who are selected as a new advisor the male dominant
over female. There is a big difference between the male &
female advisor.
Finding –2 shows the martial status of new advisors. Out of 100

advisors selected 61 are one married which is a good sign
because they are much more aware insurance and 39 unmarried.
Finding-3 shows the age group of selected advisors are quiet

encouraging. 53 % are over age of 55 years which is quite good
for company because they much more trusted by the prospect
than the other age group.
Finding-4 shows most of the selected advisors have a good

qualification. Most of them are graduate and post graduate.
Finding-5 shows, because 61% advisors are married so the

dependent person on them are same.
Finding-6 shows most of the new advisors are engaged in

different fields. Some are govt. employee, some are engaged in
private service and some have their own business.
Finding-7 All most 50% of the new advisors give full time to
their profession. This shows how new advisors are dedicated
towards their new profession.

Finding-8 Most of the new advisors have a very good family
support. The annual family income of most of the new advisors
are over 10,000 which is very encouragement
Finding-9 Most of the new advisors belong to a middle income

group so they are not in a position to join any club or social
organization. The percent of joining such club or organization is
just 22%.
Finding-10 shows selection is advisors in base on commission

basis so there is always a big possibility of extra income. Hard
working advisors can earn more then expectation, because their
is no limit of earning. If a advisors sell more policy he can get
more commission so there know limitation on earnings. .

CONCLUSION
The market potential for private insurance companies is found to

be greater in the long run as most of the Indians are of the
opinion that, private insurance companies would be able to
perform well in the future. The private and foreign insurance
companies have to take immediate steps in appointing more
number of agents and/or advisors in addition to the employees as
it has been found out that agents are the best channel to reach
the general public regarding selling of insurance products. The
private and foreign insurance companies have to concentrate on
the factors like 'Prevention of Loss', 'Assured Returns' and 'Long
term Investment'. They can also focus on an insurance amount of
Rs. 1 – 2 lakhs with 'money back policies'. Hence, the market
has potential. The private and foreign insurance companies that
are taking immediate steps can tap it easily & rapidly.


SUGGESTIONS
1) Even though most of the policy holders are satisfied with policies, plans
they have but some new attractive insurance plans should be introduce to
bind them not to switch over to other companies insurance plans.
2) The company should find out the no. of people who are not having any
of the insurance plans through an intensive market research and motivate
them to get insured.
3) Leveraging technology to service customers quickly, efficiently and

conveniently.
4) Developing and implementing superior risk management and investment
strategies to offer sustainable and stable returns to our policyholders.
5) Company should target each and every class of the society
6) Company should provide full information to the customers before
targeting so they can take interest

LIMITATIONS
 Some of the respondents were not cooperative.
 Some respondents were hesitating to give business details.
 Biasness is another limitation that the scope of the survey.
 The reliability and scope of survey greatly relies on the cooperation
of the respondents.

BIBIOLIOGRAPHY
 www.BirlaSunlife.com
 www. irda. gov. in
 Birlasunlife New Advisor Book
 www.google.com

Questionnaire
Name:............................... Age:……………..
Occupation:…………………..
Ques.1 Which Birla Sun Life Scheme does you have?
(a) Life (b) Retirement (c) Health
Ques.2 Are you satisfied with the Insurance plan you have?
(a) Yes (b) No
Ques.3 What attract you towards Birla Sun Life Plans?
(a)
(b)
(c)
(d)
Ques.4 Are you satisfied with the services provided by the company
regarding new plans and schemes?
(a) Yes (b) No
Ques.5 Are you interested to make more investments inBirla Sun Life ?
(a) Yes (b) No
Ques.6 Have you any other Insurance Plan apart from Birla Sun Life?
(a) Yes (b) No
Ques.7 If yes, then of which Life Insurance Company?

(a) LIC (b) Bajaj Allianz
(c) Birla Sunlife (d) Reliance
(e) Others
Ques.8 If you get any attractive plan than are you ready to switch over?
(a) Yes (b) No
Suggestions:
……………………………………………………………………………
……………………………………………………………………………
……………………………………………………………………………
……………………………………………………………………………
……………………………………………………………………………

FORM IRDA-AGENTS-VA
(See Regulation 3)
Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000.
APPLICATION FOR A LICENCE / RENEWAL OF LICENCE TO ACT AS AN INSURANCE

AGENT
TO
THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY,
DEPARTMENT OF LICENSING,
NEW DELHI.
DEAR SIRS,
I request that ---

(a) a license to act as an insurance agent* / a composite insurance agent* may be granted to me.
(b) *my license bearing number ____________________ and expiry date_____________ may be
renewed for a further period of three years.
2. I hereby declare that particulars given below are true and that the license for which I apply will be used
only by myself for soliciting or procuring insurance business for one life insurer* / one general insurer* /
both*.
(1) Name: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(2) Father's/Husband's Name [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(3) Full Address:

House No. : [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
Street: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
Town: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
District: : [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
State : : [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
Pin Code:: [ ][ ][ ][ ][ ][ ]
Telephone No. [ ][ ][ ][ ][ ][ ]---[ ][ ][ ][ ][ ][ ][ ][ ]
(STD Code -- Number):
(4) Date of Birth: Day- Month-Year[ ][ ]-[ ] [ ]-[ ][ ][ ][ ]
(5) Title: State 1 if are Mr., 2 Mrs., 3 Miss: [ ]
(6) If you ever held a Licence, state No. and date of expiry, otherwise say "Nil".
(a) Licence Number: [ ][ ][ ][ ] [ ][ ][ ][ ] [ ] [ ]
(b) Date of Expiry: Day- Month-Year [ ][ ]-[ ] [ ]-[ ][ ][ ][ ]
(7) If you apply for licence to work for a life insurer,

State 1, for a general insurer, state 2, for both state 3 in the box. [ ]
(8) If you are an applicant from a rural place,

State 1, in the box. [ ]
(9) Educational Qualifications.

State 1, if you passed Class X ; 2: Class XII; 3: Graduate;

4: Post-graduate; 5: if you hold a professional qualification
such as ACA, FASI, AICWA.): [ ]
(10) Give particulars of pass in pre-recruitment test conducted by the Insurance Institute of India or any
examination body:
(a) Name of Examination Body: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(b) Candidate's Number: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(c) Centre of Examination: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(d) Date of Passing: [ ][ ]-[ ][ ]-[ ][ ][ ][ ]

(Day- Month-Year)
(11) Give particulars of Practical Training completed from an approved institution.
(a) Training Hours completed: [ ][ ]
(b) Name of Training Institute: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(c) Candidate's Number: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(d) Centre (Place) of Training: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(e) Starting Date of Training: [ ][ ]-[ ][ ]-[ ][ ][ ][ ]
(Day- Month-Year)
3. I further declare that----
(a) I have not been found to be of unsound mind by a court of competent jurisdiction;
(b) I have not been found guilty of criminal misappropriation or criminal breach of trust or cheating or
forgery or an abetment of or attempt to commit any such offence by a court of competent jurisdiction;
(c) I have not been found guilty of or to have knowingly participated in or connived at any fraud,
dishonestly or mis-representation against an insurer or an insured in the course of any judicial
proceeding relating to any policy of insurance or the winding up of an insurance company or in the
course of an investigation of the affairs of an insurer; and
(d)#I have not violated the code of conduct specified under Regulation 8 of Insurance Regulatory and
Development Authority (Licensing of Insurance Agents) Regulations, 2000.
4. I have made the payment of licence fee of rupees two hundred and fifty and for which I enclose the
documentary evidence.
5. I enclose the following documents in support of the educational qualification, pre-recruitment test, and
the practical training.
(a) ______________________ (b)_________________________
Place Yours faithfully,
Date: Signature of applicant

(* Strike out portion not required.)
(# Not applicable to the applicants seeking license for the first time.)

Notes and Instructions
1. An individual can apply for only one licence which will entitle him to solicit or procure insurance
business of any class and to act as an insurance agent for one life insurer, one general insurer, or both.
2. The application should be filled in, as far as possible, in Hindi language or English language.
3. Any correction or alteration made in any answer to the questions in the application should be initialled
by the applicant.
4. An applicant must be at least 18 years of age on the date of the application. If required the applicant
shall furnish proof of age.
5. An applicant shall furnish the proof of educational qualification, pass in the pre-recruitment test
conducted by the Insurance Institute of India, Mumbai or an examination body approved by the
Insurance Regulatory and Development Authority, and completion of practical training from a training
institution approved by the Insurance Regulatory and Development Authority, along with the
application. This is not applicable where the applicant is an absorbed agent.
6. The fees payable by an applicant is rupees two hundred and fifty.
7. The name and the licence No. given in the application are identical with those shown in the last
licence held. If there is any subsequent change in the name, the reasons for the same should be stated
furnishing documentary evidence for the same.
8. The application should reach the designated person before the expiry of licence held by the applicant
but not more than three months before such expiry. If the application does not reach the designated
person at least 30 days before the date on which the last licence ceases to be in force, an additional fee
of one hundred rupees should be payable. In this connection please also refer to the provisions of sub-
sections (3) and (3A) of section 42 of the Insurance Act, 1938.
9. If the applicant desires to work for a life insurer or a general insurer or both, as the case may be, he
should enclose the documentary evidence of the relevant pass in the pre-recruitment test and the
completion of the relevant practical training.

Summer Training Project On BIRLA SUNLIFE

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Summer Training Project On BIRLA SUNLIFE

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OBJECTIVE

 To study the overall scenario currently prevailing in the market, namely,

 To study and determine the competitor position in the market.

To do a performance evaluation of Birla Sun Life Insurance products in

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Life insurance (Life Assurance in British English) is a type of insurance. As

How life insurance works

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

BSLI in its five successful years of operations has contributed significantly

Being a customer centric company, BSLI has invested heavily in technology

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Commenting on the association with Kapil Dev, Mr. S. K. Mitra, Director,

About Birla Sun Life Insurance

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

About the Aditya Birla Group

About Sun Life Financial Inc.

Sun Life Financial Inc. is a leading international financial services

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

To be a world class provider of financial security to individuals and

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

To be the first preference of our customers by providing innovative, need

Our endeavour will be to provide constant value addition to customers

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

 Multi-channel distribution and one of the largest

 Customer centric products and services.

 Superior investment and risk management framework

 Company has maximum number of MDRT as well as

good number of HNI advisors.

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

 COMPANY does not penetrate on the rural market at a

 Insurance market is very big, where company can expand

only government company.

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Mr. Kumar M Birla

• Mr. Ajay Srinivasan

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Mr. Mario Braganza Mr. E.N. Goveia

Mr. Amit Punchhi Mr. Bhavesh Sanghvi

Mr. Snehal Shah Ms. Anjana Grewal

Mr. Rajesh Bhojani Mr. K.H.

Mr. Fabien Jeudy Mr. Lalit Vermani

Mr. Melvyn D'souza Mr. Vikram Kotak

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Birla Sun Life Term Plan

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

Life is unpredictable. But in face of adversity, our

BSLI offers a complete range of insurance products

8. Plans for NRIs

DETAILD STUDY OF INSURANCE POLICY & REQUIRMENT OF ADVISOR

BSLI offers LifeGuard - a set of pure protection plans. Choose

Level Term Assurance with return of premium

 On death the entire sum assured will be paid.

 On maturity, all the premiums paid will be returned.