Reliance Increasing Money Back Plan gives you periodic money back payouts that

allows you to upgrade your familys lifestyle along with life insurance cover to safeguard
your family against unforeseen eventualities. With your growth at each lifestage, the payouts
too increase each time bringing happiness and security to your family.
1

Gift your family a lifestyle upgrade every three years

2

Increasing payouts that match your increased responsibility at every lifestage

3

Guaranteed money back payouts help you plan for the long term
4

Protect your familys well-being against unforeseen events

5

Avail tax benefits on premiums, maturity and money back payouts, subject to prevailing tax
laws

Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully
before concluding a sale. UIN for Reliance Nippon Life Increasing Money Back Plan:
121N116V01

LIFE INSURANCE AS PROTECTION

WHY US?
Whatever your career goal, Reliance Nippon Life Insurance is a company big enough for
your dreams. We, along with the other businesses of Reliance Capital, enjoy a strong position
in the financial services category. And this may be the place where you can have the career
you have always wanted.

We endeavour to be unique in creating an environment that makes pitting your skills against
the world a challenging, stimulating and energizing experience.

Here, we believe that bigger the challenges that we set for ourselves, the higher they will take
us. And finding resonance with this credo is our ever-increasing workforce.
With us you will experience and be a part of
Opportunities for lateral growth within the company

Performance management systems based on the balanced scorecard model

Exposure to extensive learning and developmental initiatives (that includes a state of the art
e-learning platform and strategic partnerships with international leaders for special
developmental programs)
Annual awards in recognition of exemplary performance
A stimulating and high energy environment with regular interactive, fun events and
challenging contests

THE INSURANCE INDUSTRY IN INDIA

AN OVERVIEW
With the largest number of life insurance policies in force in the world, Insurance happens to
be a mega opportunity in India. Its a business growing at the rate of 15-20 per cent annually
and presently is of the order of Rs 1560.41 billion (for the financial year 2006 2007).
Together with banking services, it adds about 7% to the countrys Gross Domestic Product
(GDP). The gross premium collection is nearly 2% of GDP and funds available with LIC for
investments are 8% of the GDP.
Even so nearly 65% of the Indian population is without life insurance cover while health
insurance and non-life insurance continues to be below international standards. A large part of
our population is also subject to weak social security and pension systems with hardly any
old age income security
A well-developed and evolved insurance sector is needed for economic development as it
provides long term funds for infrastructure development and strengthens the risk taking
ability of individuals. It is estimated that over the next ten years India would require
investments of the order of one trillion US dollars.

HISTORICAL PERSPECTIVE

The history of life insurance in India dates back to 1818 when it was conceived as a means to
provide for English Widows. Interestingly in those days a higher premium was charged for
Indian lives than the non - Indian lives, as Indian lives were considered more risky to cover.
The Bombay Mutual Life Insurance Society started its business in 1870. It was the first
company to charge the same premium for both Indian and non-Indian lives.
The Oriental Assurance Company was established in 1880. The General insurance business in
India, on the other hand, can trace its roots to Triton Insurance Company Limited, the first
general insurance company established in the year 1850 in Calcutta by the British. Till the
end of the nineteenth century insurance business was almost entirely in the hands of overseas
companies.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during the 1920's
and 1930's sullied insurance business in India. By 1938 there were 176 insurance companies.
The first comprehensive legislation was introduced with the Insurance Act of 1938 that
provided strict State Control over the insurance business. The insurance business grew at a
faster pace after independence. Indian companies strengthened their hold on this business but
despite the growth that was witnessed, insurance remained an urban phenomenon.
The Government of India in 1956, brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and Life Insurance
Corporation (LIC) was born. Nationalization was justified on the grounds that it would create
the much needed funds for rapid industrialization. This was in conformity with the
Government's chosen path of State led planning and development.

The non-life insurance business continued to thrive with the private sector till 1972. Their
operations were restricted to organized trade and industry in large cities. The general
insurance industry was nationalized in 1972. With this, nearly 107 insurers were
amalgamated and grouped into four companies- National Insurance Company, New India
Assurance Company, Oriental Insurance Company and United India Insurance Company.
These were subsidiaries of the General Insurance Company (GIC).

KEY MILESTONES
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended by the Insurance Act with the objective of
protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers along with provident societies were taken over by the
central government and nationalized. LIC was formed by an Act of Parliament- LIC Act
1956- with a capital contribution of Rs. 5 crore from the Government of India.