Report of Abhineet

MBA 2009-11
INTRODUCTION
HDFCSLC is one of Indias leading private insurance companies. It offers both individual and group insurance solution. It is a joint venture between HDFC and a group of company of Standard Life. I have chosen insurance sector as the place for summer training because in these days this sector is in boom and it will never go down. All people invest their money in insurance and get more benefited. In the sector the work of marketing is more challenging then the other sector because there is 17 insurance companies in the market who are giving competition to each other and the work of convince people for investment in respective company is a challenging work and success in the sector proves that the respective person is a good marketer. Today insurance sector India is on boom because all people want to invest. Those who dont know about investment in share market and dont want to invest in mutual funds they invest in insurance sector. Insurance sector gives them investment plus risk cover. Those who dont want to take risk in the investment go to insurance sector. It also gives income tax benefits to the peoples. Insurance company are now launching ULIP plan and gives chance to the investor to choose their investment pattern according to their fund investment table(this table is included in the product information of the product of HDFC Standard life). This fund investment tells us that how much the investor want to take risk. Generally in the ULIP plan, the thesis is that The more you risk the more you have profit. HDFCSLIC stands for Housing Development Finance corporation standard life insurance company. It is incorporated in 1977 as a public limited company with the specialization in provision of housing finance to individuals cooperative societies and the corporate sector. One significant matter about the HDFC is that it is first private sector retail housing finance company and it is listed on both BSE and NSE. Its market capitalization in June 2002.
Abhineet Anand[0953870001]
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Standard life insurance is founded in 1825. Standard life was reincorporated as a mutual assurance company in 1925. Its largest mutual life insurance company in Europe. For the joint venture between HDFC and SLIC, the discussion commenced in January 1995 and the agreement signed in October 1995. Further joint venture agreement renewed in October 1998. In January 2000 the life insurance project teem established in Mumbai. At last the company officially incorporated in 14th August 2000. It is the matter of great happiness for HDFCSLIC is that it is the first private sector life. insurance company to be granted a certificate of registration in 23rd October, 2000. Today 75% shareholding in the hand of HDFC and Standard life has 25% shareholding in this joint venture
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OBJECTIVE OF THE STUDY

This project aims to know about the Financial product in Indian sub-continent for the HDFCSLC to know how much people know and think about the insurance specially in government employees like PWD engineers, Nagar nigam engineers etc. the objective was to identify the scope of financial products in Indian subcontinent and another objective was to find out potential investors who are seeking for new investment and they are likely to join HDFCSLC as an activity partner,
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SCOPE AND LIMITATION OF STUDY SCOPE OF STUDY

The scope of study was to know about the all financial product of insurance sector specially of the HDFCSLC. It helps to know what are the benefits of the product & are people aware or not about the benefits of insurance.
LIMITATIONS 1) Small Sample size:

In my survey, I have taken a sample size of 100 customers, but only with these samples I cant make a proper conclusion.
2) Time Constraint:
Time for this project is not sufficient. As I go for the survey at the various Government department and residence then time for completing and filling the questionnaires is not sufficient.
3) Sample Area:
The study was conducted in LUCKNOW only. Hence, the study may not be useful for projection of behavioral aspect of consumers living in other cities.
4) Money Constraint:
Budget and finance are always been constraints in doing any project.
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5) Negative response
Some people shows negative response to the survey by not Answering the questionnaire.
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RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the problem. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally adopted by the researcher in studying his research problem along with logic behind them . it is necessary for the researcher to know not only the research methods/techniques but also the methodology used. Researchers not only need to know how to develop certain indices or tests , how to calculate mean or median or mode, how to apply particular research techniques but must also know which of these methods or techniques are relevant and what would they mean and indicate and why Research process consists of series of actions or steps necessary to effectively carry out the research.
RESEARCH DESIGN
A research design is the detailed blueprint used to guide a research study toward its objectives. The process of designing a research study involves many interrelated decisions. The most significant decision is the choice of research approach, because it determines how the information will be obtained. To design something also means to ensure that the pieces fit together. The achievement of this fit among objective, research approach, and research tactics is inherently an iterative process in which earlier decisions are constantly reconsidered in light of subsequent decisions. The function of research design is to provide for collection of relevant evidence with minimal expenditure of time effort and money The following methodology was adopted for the study purpose:
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Source of data
Data is the key activity of marketing research. The design of the data collecting method is backbone of research design. Data can be obtained from two important sources, namely: 1. Primary Data 2. Secondary Data
I Primary sources
Personal interview through questionnaire
II-Secondary data
The secondary data was collected through following sources Through companys website Through insurance book provided by IRDA
SAMPLE DESIGN Area of Sample:
The areas covered up in this survey was LUCKNOW
Selection of units under study:
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AREA OF LUCKNOW WHERE SURVEY IS DONE

1. 2. 3. 4. 5. 6. PWD department Nagar nigam office Jankipuram Kapoorthala Gomtinager Various branches of HDFCSLC
Source list (Sampling Frame):

GOVERNMENT EMPLOYEES: 59 NON GOVT EMPLOYEES: 26 RETIERED PERSON: 15 Sample size: 100 Sampling Procedure: Probability Sampling (Simple Random Sampling)
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METHOD OF DATA COLLECTION Research Method/Technique:

In the project report the researcher used following techniques while conducting his study: Analysis of documents Survey Method: A market survey was done on how much people are aware of financial products of insurance & they know about its benefits or not. Questionnaire (Structured): A structured designed comprehensive
questionnaire was framed and Protested for data collection from the people (scheduleing method) .
Survey:
Survey was done with the questionnaire as well as personal interaction
Personal interviews
This method of date collection involves the interviewers asking question in a face to face contact situation there in direct personal investigation and the interview innproperly structured as it involves the use of set of predetermined questions which are asked in the form and order pre-decided that is given in questionnaire. This technique is preferred as it is economical, more informative, non responses are low, spontaneous reaction which are realistic. Lots of supplementary information comes up.
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Secondary Data
Secondary data consists of information that already exists some where and may have collected for a different purpose, it provide a starting point. As information was taken for company profile as well as to know about financial product as well as to know about the insurance. To know about the company as well as about insurance the secondary data was used.
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THE COMPANYS BACKGROUND

When we talk about company profile then HDFC standard life insurance company is targeting insurance sector. It is launching various type of insurance plan and product which is enticing people to buy its plan. As a insurance company it focus mainly in the recruitment of financial consultant and the whole company based on it because the main aim of company is to get business and sell lots number of policy and this work is done by financial consultant.
HDFC Standard Life Vision and Values

Vision of HDFCSL
The most successful and admired life insurance company, which mean that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. In short, The most obvious choice for all For retention in the market and highest market share, we need trust of our customer. The customer should trust on our policies, services, employs and they should be friendly with us. It wants to live in the eye and heart of the customer. It wants to give them the easiest deal so that they can be understood the terms and policies. As we know that profit is the main aim of any business but it think not only about his profit but also profit of the customer. It wants to be the choice of all people on the basis of trust of customer, delivering high value to the customer, and deliver of best value of the money
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Value that will be observed while we work with HDFCSLC 1. Integrity

HDFCSL believes in honest and trustfulness in every action. Transparency in dealing with customers. It is stick to principles irrespective of outcome. When we work in HDFCSL then we observed that its rules and activity of every person in the organization is just and fair to every one. Integrity is the bedrock on which the company and the expectations of the customers and employees are built. Integrity gives inner feeling to both customer and the employees to work with it. It establishes the credibility of the person, defines the character and empowers one to do justice to the job. It enables confidence and trust, achieving transparency and laying a strong foundation for a binding relationship. It guide principle for all walks of life.
2. Innovation
It is the process of building a store house of treasures through experiences. Lots of product is going to be launched by the competitors. So it is very important to look every product and process through fresh eyes everyday. It is the significant part of the business that attracts customer. Innovation is essential to exceed customer expectation and maximize customer retention because it is the sector of investment so you need to fulfill the customer expectation which help you to retain customer. Innovation helps to achieve competitive advantage. It promotes growth and upgrade standards in the industry. It fosters creativity amongst employees and partners. It opens a world of new possibilities because it brings new concept which helps to entice the customer.
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3. Customer centric
Customer becomes the main properties of any organization. Whatever work done by the organization runs around the expectations of the customer. Customer becomes centre point of the organization and the main focus of the organization becomes to understand his expectations by keeping him as the centre point. It gives more focus on customer activity and saying. It tries to understand customer needs and deliver solutions. As we know that the market is changed. Lots of competitors is here who search chance to increase their market share and entice your customer so customer interest become always supreme.
4. People Care
Genuinely try to understand those people who are working with HDFCSL. It guides their development through training and support. It helps them to develop their requisite their skills so that they can reach their true potential. It tries to know them on a personal front because it works as a performance appraisal. It try to create an environment of trust and openness so that all people who are working here behave friendly and helps to each other because team work is most important for getting success and give respect for the time of others. People are the most valuable assets of the company so it tries to motivate individual to give his/her best. It wants to establish a valuable relationship with them to create a joyful working environment. The most important thing is that it tries to provide job satisfaction for their people.
5. Team work One for all and all for one

Here whole team takes the ownership of the deliverables. It consults all involved in the work and try to understand their opinion and then arrive ant a common objective. There is a cooperation and support across departmental boundaries. It
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identifies strengths and weaknesses accordingly allocate responsibility to achieve common objectives. Team work helps everyone to achieve more. it adds joy at work place which add interest in the work and new stamina in the work. It generates synergy and provides a focused approach. When an idea or activity performed in a group, it has greater acceptability. Team work proves one for all and all for one.
6. Joy and simplicity

It believes in joy and simplicity so that people in the organization will be more dedicated towards work and they will give more business to the organization. Work with joy and simplicity brings creativity and new imagination which also brings new innovative ideas that promote competitive advantage to the organization.
MISSION OF HDFSLIC
We aim to be the top new life insurance company in the market. This does not just mean being the largest or the most productive company in the market, rather it is a combination of several things like- Customer service of the highest order Value for money for customers Professionalism in carrying out business Innovative products to cater to different needs of different customers Use of technology to improve service standards Increasing market sha
HDFC GROUP COMPANIES

HDFC Limited HDFC Bank HDFC Asset Management Co. Limited
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HDFC Securities LIMITED HDFC Standard Life Insurance Company Intelnet Global CIBILCredit Information Bureau Investigation Ltd HDFC Chubb General Insurance
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THE PROMOTERS
Brief Profile of The Board of Directors
Mr. Deepak S. Parekh is the Chairman of the Company. He is also the Chairman and Director of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Chairman in 1993. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales).
Mr. Keki M. Mistry joined the Board of Directors of the Company in December, 2000. He is currently the Vice Chairman and Chief Executive Officer of HDFC Limited. He joined HDFC Limited in 1981 and became an Executive Director in 1993. He was appointed as its Managing Director in 2000. Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants.
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Ms. Renu S. Karnad is the Managing Director of HDFC Limited. She is a graduate in Law and holds a Master's degree in Economics from Delhi University. She has been employed with HDFC Limited since 1978 and was appointed as the Executive Director in 2000 and Deputy Managing Director in 2007. She is responsible for overseeing all aspects of lending operations of HDFC Limited.
Mr. David Nish joined Standard Life on 1 November 2006 as Group Finance Director and remained in that position until December 2009. He is appointed as the Executive Europe on 1st January 2010. In 2000 he was awarded the Scottish Business Awards Finance Director of the Year and from 2004 to 2005 he served on the Government Employers Pension Task Force. He is a member of the Institute of Chartered Accountants of Scotland. He joined the Board of Directors in February 2010.
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Mr. Nathan Parnaby is appointed as the Chief Executive, Europe & Asia of Standard Life in the year 2010. Nathan joined Standard Life in 1982 as Investment Manager, He is a Mathematics graduate from Oxford University and the Member of the Securities Institute. He joined the Board of Directors in December 2009. . He was appointed a Director of the Standard Life Investments board. He is responsible for all UK net funds
Mr. Norman K. Skeoch is currently the Chief Executive in Standard Life Investments Limited and is responsible for overseeing Investment Process & Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with M/s. James Capel & Co. holding the positions of UK Economist, Chief Economist, Executive Director, Director of Controls and Strategy HSBS Securities and Managing Director International Equities. He was also responsible for Economic and Investment Strategy research produced on a worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005.
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Mr. Gautam R. Divan is a practicing Chartered Accountant and is a Fellow of the Institute of Chartered Accountants of India. Mr. Divan was the Former Chairman and Managing Committee Member of Midsnell Group International, an International Association of Independent Accounting Firms and has authored several papers of professional interest. Mr. Divan has wide experience in auditing accounts of large public limited companies and nationalized banks, financial and taxation planning of individuals and limited companies and also has substantial experience in structuring overseas investments to and from india.
Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on Strategy and Change Management. Mr. Pant, until 2002 was a Partner & VicePresident at Bain & Company, Inc., Boston, where he led the worldwide Utility Practice. He was also Director, Corporate Business Development at General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton School and BE (Honors) from Birla Institute of Technology and Sciences.
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Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of India Limited. Mr. Ravi Narain was a member of the core team to set-up the Securities & Exchange Board of India (SEBI) and is also associated with various committees of SEBI and the Reserve Bank of India (RBI).
Mr. A. K.T. Chari has joined HDFC Standard Life as a Director on March 10, 2010. Mr. Chari has completed his Electrical Engineering from Madras University in 1962. He is associated with Infrastructure Development Finance Company Ltd. (IDFC) for last 11 years. Currently he is handling project finance for infrastructure projects at IDFC. Prior to this he was associated with Infrastructure Development Bank of India (IDBI) from 1975 to 1999.
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Mr. Gerald E. Grimstone was appointed Chairman of Standard Life in May 2007, having been Deputy Chairman since March 2006. He became a director of the Standard Life Assurance Company in July 2003. He is also Chairman of Candover Investments plc and was appointed as one of the UKs Business Ambassadors by the Prime Minister in January 2009. Gerry held senior positions within the Department of Health and Social Security and HM Treasury until 1986. He then spent 13 years with Schroders in London, Hong Kong and New York, and was Vice Chairman of Schroders worldwide investment banking activities from 1998 to 1999. He is the Alternate Director to Mr. David Nish.
Mr. Michael G Connarty is responsible for Standard Life's investments in life assurance Joint Ventures in India and China. He holds a degree in Law and MBA. He has worked with Standard Life for 33 years in managerial positions covering a number of fields such as Pensions law, International Marketing, Operational Management, Strategy, Risk, Compliance, Company Secretarial and Banking. He has acted as Project Manager for the start-up project of the Company in 2000. He is the Alternate Director to Mr. Norman K. Skeoch.
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Mr. Amitabh Chaudhry is the MD and CEO of HDFC Standard Life. Before joining HDFC Standard Life, he was the MD and CEO of Infosys BPO and was also heading an Independent Validation Services unit in Infosys Technologies. He started his career with Bank of America delivering diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India). He moved to Credit Lyonnais Securities in 2001 in Singapore where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2005. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmedabad.
Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer of the company. A fellow of the Institute of Chartered Accountants of India, he has been associated with the HDFC Group since 1984. During his 16-year tenure at HDFC Limited, he was responsible for driving and spearheading several key initiatives. As one of the founding members of HDFC Standard life, Mr. Parasnis has been responsible for setting up branches, driving sales and servicing strategy, leading Abhineet Anand[0953870001] Page 22
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recruitment, contributing to product launches and performance management system, overseeing new business and claims settlement, customer interactions etc.
Brief Profile of The Management Team
Mr. Amitabh Chaudhry Managing Director and Chief Executive Officer Mr. Amitabh Chaudhry is the Managing Director and Chief Executive Officer of HDFC Standard Life. Before joining HDFC Standard Life in January 2010, he was the Managing Director and CEO of Infosys BPO and was also heading an Independent Validation Services unit in Infosys Technologies. Mr. Chaudhry started his career with Bank of America delivering diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India). He moved to Credit Lyonnais Securities in 2001 in Singapore where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2005. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmedabad.
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Mr. Paresh Parasnis Executive Director and Chief Operating Officer Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer of HDFC Standard Life. A fellow of the Institute of Chartered Accountants of India, he has been associated with the HDFC Group since 1984. During his 16-year tenure at HDFC Limited, he was responsible, for driving and spearheading several key initiatives. As one of the founding members of HDFC Standard life, Mr. Parasnis has been responsible for setting up branches, driving sales and servicing strategy, leading recruitment, contributing to product launches and performance management system, overseeing new business and claims settlement, customer interactions etc.
Ms. Vibha Padalkar Chief Financial Officer Ms. Vibha Padalkar is the Chief Financial Officer of HDFC Standard Life. Ms. Padalkar joined HDFC Standard Life in August 2008 after a seven year stint as Executive vice President-Finance at WNS Global Services, a NYSE listed leading global business process outsourcing company. Vibhas key achievement during her Abhineet Anand[0953870001] Page 24
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tenure at WNS was to lead a team that successfully completed the Groups IPO on the New York Stock Exchange in a short span of six months. Prior to WNS, Vibha was with Colgate Palmolive India for 7 years, including a short posting to the Group's New York headquarters. Ms.Padalkar became a member of the Institute of Chartered Accountants in England and Wales in 1992, after having completed the last part of her schooling as well as college education in London.
Mr. Ashley Rebello Chief Actuary and Appointed Actuary Mr. Ashley Rebello is the Chief Actuary and Appointed Actuary of HDFC Standard Life. He completed his degree in Mathematics at Imperial College, London, before joining Prudential UK in 1996. During his six years at Prudential he worked in Product Development and Pricing, Valuation and in the Appointed Actuary's team. Subsequently he worked as an actuarial consultant at PricewaterhouseCoopers for five years, working for over 20 life insurance companies on a large variety of assignments in the UK, Netherlands, Switzerland, Greece and the US. He joined Standard Life in April 2008 and immediately moved to HDFC Standard Life. Mr. Rebello is a Fellow of the Institute of Actuaries of India and Fellow of The Institute of Actuaries (UK).
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Mr. Vikram Mehta General Manager, Sales and Marketing Mr.Vikram Mehta heads the Sales and Marketing function for HDFC Standard Life. Mr. Mehta joined HDFC Standard Life in February 2009. Before joining HDFC Standard Life, he was associated with Citibank for 16 years serving various responsibilities including the Head for Direct Sales - Citibank Credit Cards division in Germany, Regional Director East - Citibank NA, India, and Acquisitions Head Credit Cards, Central and Eastern Europe cluster. Mr. Mehta started his career with Reckitt and Colman (now Reckitt Benckiser) in 1988, and was associated with the company for 4 years. He has been a part of FMCG and banking industry for over 20 years. Mr. Mehta has completed Chemical Engineering from the Indian Institute of Technology (IIT) Delhi and holds a PGDM from IIM Calcutta.
Mr. Prasun Gajri Chief Investment Officer Mr. Prasun Gajri is the Chief Investment Officer of HDFC Standard Life. Mr. Gajri joined HDFC Standard Life in April 2009 with a rich experience of 14 years Abhineet Anand[0953870001] Page 26
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in investments and banking industry. He started his career in 1995 with Citibank and was associated with it for over 6 years delivering various roles. He joined Tata AIG Life Insurance Company in October 2001 to start the investment function and stayed there until April 2009, the last role being that of the Chief Investment Officer. He holds a PGDM from IIM Ahmedabad and is also a CFA Charter holder.
Associate Companies
HDFC Limited
HDFC Bank
HDFC Mutual Fund
HDFC Sales
HDFC ERGO General Insurance
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Other Companies

HDFC Trustee Company Ltd. GRUH Finance Ltd. HDFC Developers Ltd. HDFC Property Ventures Ltd. HDFC Ventures Trustee Company Ltd. HDFC Investments Ltd. HDFC Holdings Ltd. Credit Information Bureau (India) Ltd HDFC Securities
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THE COMPANYS PRODUCT LINE

Protection Plans
HDFC Term Assurance Plan HDFC Premium Guarantee Plan HDFC Loan Cover Term Assurance Plan HDFC Home Loan Protection Plan
Children's Plans
HDFC Children's Plan HDFC Young Star Super HDFC Young Star Supreme HDFC YoungStar Super Suvidha HDFC Young Star Supreme Suvidha HDFC SL YoungStar Champion Suvidha
Health Plans
HDFC Critical Care Plan HDFC SurgiCare Plan Savings & Investment Plans HDFC Endowment Super HDFC Endowment Supreme HDFC SimpliLife HDFC Endowment Super Suvidha HDFC Endowment Supreme Suvidha HDFC SL Endowment Champion Suvidha
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HDFC Wealth Builder HDFC Endowment Assurance Plan HDFC Money Back Plan HDFC Single Premium Whole of Life Insurance Plan HDFC Assurance Plan HDFC Savings Assurance Plan
Retirement Plans
HDFC Personal Pension Plan HDFC Pension Super HDFC Pension Supreme HDFC SL Pension Champion HDFC SL Unit Linked Pension Maximiser II HDFC Immediate Annuity
Rural Products
HDFC Gramin Bima Kalyan Yojana HDFC Gramin Bima Mitra Yojana HDFC Bima Bachat Yojana
Social Products
HDFC Development Insurance Plan Products Closed for Sale (Serviced by Customer Service)
HDFC Unit Linked Pension HDFC Unit Linked Pension Plus
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HDFC Unit Linked Endowment HDFC Unit Linked Endowment Plus HDFC Unit Linked Endowment Suvidha HDFC Unit Linked Endowment Suvidha Plus HDFC Unit Linked Young Star Suvidha HDFC Unit Linked Young Star Suvidha Plus HDFC Unit Linked Young Star HDFC Unit Linked Young Star Plus HDFC Unit Linked Pension II HDFC Unit Linked Wealth Maximiser Plus HDFC Unit Linked Endowment Winner HDFC Unit Linked Wealth Multiplier HDFC Unit Linked Endowment II HDFC Unit Linked Endowment Plus II HDFC Unit Linked Enhanced Life Protection II HDFC Unit Linked YoungStar II HDFC Unit Linked YoungStar Plus II HDFC Unit Linked YoungStar Champion
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FEATURES OF THE PRODUCT OF HDFCSLC 1) PROTECTION PLAN

Why do we need Protection Plans?
Protection Plans help you shield your family from uncertainties in life due to financial losses in terms of loss of income that may dawn upon them incase of your untimely demise or critical illness. Securing the future of ones family is one of the most important goals of life. Protection Plans go a long way in ensuring your familys financial independence in the event of your unfortunate demise or critical illness. They are all the more important if you are the chief wage earner in your family. No matter how much you have saved or invested over the years, sudden eventualities, such as death or critical illness, always tend to affect your family financially apart from the huge emotional loss. For instance, consider the example of Amit who is a healthy 25 year old guy with a income of Rs. 1,00,000/- per annum. Let's assume his income increases at a rate of 10% per annum, while the inflation rate is around 4%; this is how his income chart will look like, until he retires at the age of 60 years. At 50 years of age, Amits real income would have been around Rs. 10,00,000/- per annum. However, in case of Amits unfortunate demise at an early age of 42 years, the loss of income to his family would be nearly Rs. 5,00,000/- per annum.
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However, with a Protection Plan, a mere sum of Rs. 2,280/- annually (exclusive of service tax & educational cess) can help Amit provide a financial cushion of up to Rs. 10,00,000/- for his family over a period of 25 years.
Types of Protection Plans

Our range of Protection Plans includes HDFC Term Assurance Plan HDFC Premium Guarantee Plan HDFC Loan Cover Term Assurance Plan HDFC Home Loan Protection Plan*
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2) Retirement Plans

Monetary security Financial independence even after retirement Live carefree in your golden years
Retirement Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. By providing you a tool to accumulate and invest your savings, these plans give you a lump sum on retirement, which is then used to get regular income through an annuity plan. Given the high cost of living and rising inflation, employer pensions alone are not sufficient. Pension planning has therefore become critical today. Indias average life expectancy is slated to increase to over 75 years by 2050 from the present level of close to 65 years. Life spans have been increasing due to better health and sanitation conditions in the country. However, the average number of years of employment has not been rising commensurately. The result is an increase in the number of post-retirement years. Accordingly, it has become necessary to ensure regular income for life after retirement, so that you can live with pride and enjoy your twilight years. Priorities at different stages of life:-
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However, skyrocketing costs can throw even a well-laid plan off balance. With costs rising every day, you can just imagine how high they will be when you are ready to hang up your boots. So, what should you do to counter this? Its time to plan your retirement and that too sooner than later. .
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The above illustration shows how with each passing year your annual savings requirement would increase. For instance, if you are 30 years old and plan to retire at 60, then, with a current annual expenditure of Rs. 3,00,000/- , you would need a corpus in excess of Rs. 2,00,00,000/- to maintain your living standards, assuming you live till 85 years and the inflation rate is 4%. To build this retirement corpus, you need to invest Rs 3,60,000/- per annum in a retirement plan that offers 8% returns per annum. In case you delay planning your retirement by 5 years then the investment amount would increase to Rs 6,90,000/- per annum.
Types of Retirement Plans

Our range of Retirement Plans includes Type Regular Premium Single Premium/ Investment Conventional Plans HDFC Personal Pension Plan Unit Linked Insurance Plans HDFC Pension Super HDFC Pension Supreme HDFC SL Pension Champion HDFC SL Unit Linked Pension Maximiser II
Let Us Help You Choose The Right Plan For You

Would you prefer to take a a) Traditional plan in which the insurance company takes all the investment decisions on your behalf over the entire policy term
b)
Return on the policy is in the form of bonus payable on maturity
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MBA 2009-11 Would you prefer to take a Unit Linked plan, where a)You can regularly monitor and review your investment decision according to your need b) The choice of investment and the investment risk you take is in your control. c) Return is in the form of growth in the NAV
HDFC Personal Pension Plan HDFC Pension Super HDFC Pension Supreme HDFC SL Pension Champion HDFC SL Unit Linked Pension Maximiser II HDFC Immediate Annuity
3)Savings & Investment Plans

Dual benefit of protection and long term savings Provide an assured sum for future needs Inculcate a habit of regular savings
Why do we need Savings & Investment Plans?

You have always given your family the very best. And there is no reason why they shouldnt get the very best in the future too. As a judicious family man, your
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MBA 2009-11 priority is to secure the well-being of those who depend on you. Not just for today, but also in the long term. More importantly, you have to ensure that your familys future expenses are taken care, even if something unfortunate were to happen to you. A big factor that you need to consider while building your wealth is inflation. It has a dual impact on your hard-earned savings. Inflation not only erodes your current purchasing power but also magnifies your monetary requirements for the future. Sample this: An 35 Year individual needs to invest Rs. 36,000/- per year with 8% returns to build a corpus of Rs. 10,00,000/- by the age of 50 Years.
However, Rs. 10,00,000/- after 15 years would be worth roughly around half of what it is today once adjusted for inflation at the rate of 4%. Therefore, an individual will need to save nearer to Rs 50,000/- annually to reach your targeted savings at the age of 50 Years, if you consider inflation. Our Savings & Investment Plans provide you the assurance of lump sum funds for your and your familys future expenses. While providing an excellent savings tool for your short term and long term financial goals, these plans also assure your family a certain sum by way of an insurance cover. With HDFC Standard Lifes
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MBA 2009-11 range of Saving & Investment Plans, you can therefore ensure that your family always remains financially independent, even if you are not around.
Types of Savings & Investment Plans

Our range of Savings & Investment Plans includes Type Conventional Plans Unit Linked Insurance Plans Regular Premium HDFC Endowment Assurance Plan

HDFC Endowment Super HDFC Endowment Supreme HDFC SimpliLife HDFC Endowment Super Suvidha HDFC Endowment Supreme Suvidha HDFC SL Endowment Champion Suvidha
HDFC Money Back Plan HDFC Assurance Plan# HDFC Savings Assurance Plan^
Single
Premium/ HDFC Single Premium Whole of Life Page 39
MBA 2009-11 Investment Limited Payment Premium Insurance Plan HDFC Wealth Builder #HDFC Assurance Plan is available for sale through our Bancassurance Partners (HDFC Ltd., HDFC Bank, Saraswat Bank and Indian Bank) ^HDFC Savings Assurance Plan is available for sale through HDFC Bank

Would you prefer to take a )Traditional plan in which the insurance company takes all the investment decisions on your behalf over the entire policy term b)Return on the policy is in the form of bonus payable on maturity. Would you prefer to take a Unit Linked plan, where a)You can regularly monitor and review your investment decision according to your need b)The choice of investment and the investment risk you take is in your control c)Return is in the form of growth in the NAV
HDFC Endowment Super
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MBA 2009-11 HDFC Endowment Supreme

HDFC SimpliLife HDFC Endowment Super Suvidha HDFC Endowment Supreme Suvidha HDFC SL Endowment Champion Suvidha HDFC Wealth Builder HDFC Endowment Assurance Plan HDFC Money Back Plan HDFC Single Premium Whole of Life Insurance Plan HDFC Assurance Plan HDFC Savings Assurance Plan
4)Health Plans

Secure your health costs Financial independence despite illnesses Meeting medical expenses effortlessly
Why do we need Health Plans?

Health plans give you the financial security to meet health related contingencies. Due to changing lifestyles, health issues have acquired completely new dimension overtime, becoming more complex in nature. It becomes imperative then to have a
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MBA 2009-11 health plan in place, which will ensure that no matter how critical your illness is, it does not impact your financial independence. In the race to excel in our professional lives and provide the best for our loved ones, we sometimes neglect the most important asset that we have our health. With increasing levels of stress, negligible physical activity and a deteriorating environment due to rapid urbanization, our vulnerability to diseases has increased at an alarming rate.
Source: National Commission on Macroeconomics and Health Report 2005. Note: Current figures are for the year 2000(Cardiovascular diseases)), 2001 (COPD and Asthma), 2004 (Cancer) and 2005(Diabetes and Mental Health). All figures above are on a per lakh basis. As can be seen in the above chart, lifestyle diseases are set to spread at disturbing rates. The result increased expenditure. In many cases, people need to borrow money or sell assets to cover their medical expenses. All it takes is a suitable plan to
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MBA 2009-11 help you overcome the financial woes related to your health by paying marginal amounts as premiums. For example, if you are 30 years old, then a mere sum of approximately Rs 3500* annually (exclusive of taxes) can provide you a health insurance plan of Rs 5 lakh over a period of 20 years, and a worry-free future for you and your family. *Note: The assumption is based on the HDFC Critical Care Plan. The figure is only indicative and the actual premium may depend upon numerous factors such as age, sum assured, gender, policy term, premium payment frequency and additional benefits opted for. It also differs from plan to plan and option to option
Types Of Health Plans

Our range of Health Plans includes HDFC Critical Care Plan HDFC SurgiCare Plan

I wish to have protection against critical illnesses that I may suffer from. I prefer to financially safeguard my self against major surgical procedures that I may undergo.
Childrens Plans
Abhineet Anand[0953870001] Page 43
MBA 2009-11 Helps you secure your childs dreams

Economic support when your child needs it most Funding major milestones
What is the need of Childrens Plans?

Childrens Plans helps you save so that you can fulfill your childs dreams and aspirations. These plans go a long way in securing your childs future by financing the key milestones in their lives even if you are no longer around to oversee them. As a parent, you wish to provide your child with the very best that life offers, the best possible education, marriage and life style. Most of these goals have a price tag attached and unless you plan your finances carefully, you may not be able to provide the required economic support to your child when you need it the most. For example, with the high and rising costs of education, if you are not financially prepared, your child may miss an opportunity of a lifetime. Today, a 2-year MBA course at a premiere management institute would cost you nearly Rs. 3,00,000/- At a assumed 6% rate of inflation per annum, 20 years later, you would need almost Rs. 9,07,680/- to finance your child's MBA degree. An illustration of how education expenses could rise with passing time due to inflation
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Source: HDFC
Standard Life Survey 2008. Inflation assumed as 6% p.a.
So, how can you cope with these costs? Childrens Plans help you save steadily over the long term so that you can secure your childs future needs, be it higher education, marriage or anything else. A small sum invested by you regularly can help you build a decent corpus over a period of time and go a long way in providing your child a secured financial future alongwith
Types of Childrens Plans

Our range of Children's Plans includes Conventional Plans HDFC Plan Unit Linked Insurance Plans
Children's HDFC YoungStar Super HDFC YoungStar Supreme HDFC YoungStar Super Suvidha HDFC YoungStar Supreme Suvidha HDFC SL YoungStar Champion Suvidha
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Would you prefer to take a a)Traditional plan in which the insurance company takes all the investment decisions on your behalf over the entire policy term b)Return on the policy is in the form of bonus payable on maturity. Would you prefer to take a Unit Linked plan, where a)You can regularly monitor and review your investment decision according to your need b)The choice of investment and the investment risk you take is in your control c)Return is in the form of growth in the NAV

HDFC Children's Plan HDFC YoungStar Super HDFC YoungStar Supreme HDFC YoungStar Super Suvidha HDFC YoungStar Supreme Suvidha HDFC SL YoungStar Champion Suvidha
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Group Plans
Group Term Insurance Plan
This plan offers Protection to an organisation's employees
Group Term Insurance Plan

GROUP TERM INSURANCE PLAN
Whatever the business Its the people who make it a success. Everybody requires some type of life insurance, especially when others depend on them financially The Group Term Insurance (GTI) plan meets this need and serves as an ideal way for companies to reinforce their bond with their employees. The sort of needs, you, as an employer need to cater to could be in form of:

Employee benefits Cover for housing or vehicle loans given by you to your employees A GTI cover for future service gratuity liability to be taken along with the HDFC Group Unit Linked Plan
The HDFC Group Term Insurance is a cost-effective plan that addresses these needs. In addition you have the choice to opt for a GTI with an experience discount
feature ("Profit Share"), where a discount is given on future premiums in case of favorable claim experience (subject to group size). Abhineet Anand[0953870001] Page 47
MBA 2009-11 The HDFC group term insurance plan will have the following structure:

One year renewable term insurance plan One master policy issued covering all members of the group Sum assured is payable on death (either due to natural causes or accidents)
The plan covers death due to any cause; accidental or natural, and hence is more comprehensive than Group Personal Accident Insurance. Several multinational corporations, large Indian companies, foreign banks and software companies have already chosen the HDFC Group Term Insurance, an innovative product from HDFC Standard Life Insurance, to protect their employees.
Optional Rider Benefits

Accidental Death Benefit Total Permanent Disability Total Permanent and Partial Diability Benefit Critical Illness Benefit Terminal Illness Benefi
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Group Variable Term Insurance Plan
This Protection plan is a tailor made insurance policy for third party institutions
Group Variable Term Insurance Plan

GROUP VARIABLE TERM INSURANCE
The Group Variable Term Insurance is a tailor made insurance policy for third party institutions. HDFC Standard Life Insurance Company will offer life insurance to customers of one or more of the third partys specific products in order that in the event of their death, there will be a lump sum available. The Group Variable Term Insurance:
On death, will pay a lump sum known as a sum assured. The sum assured varies over time in order that the customer receives the cover that they need
Is a group policy Has no lengthy underwriting procedure Is simple to administer
The policy is without any participation in the insurers profits
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Group Gratuity Solutions
This plan is a flexible and cost effective way to fund your Gratuity liability
Group Unit Linked Plan Gratuity schemes

GROUP UNIT LINKED PLAN
Gratuity Schemes Most employers have a statutory obligation to pay a gratuity to its employees on termination of employment. This gratuity is in the form of a one-off payment made on termination of employment. It depends on salary and number of years of service, so will therefore increase with time. The HDFC Group Unit Linked plan is a new and innovative unit-linked plan, which offer employers and gratuity scheme trustees a flexible and cost effective way to fund this gratuity liability. The plan helps a corporate by:
Building a fund systematically, which will be used to meet your future gratuity liability
Providing the opportunity to maximise investment returns and thus provide the benefit in a cost-effective manner One factor that helps you to maximise the investment returns is low charges. Our charges are the lowest in the industry and therefore can improve your long-term returns.
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Group superannuation plan
This plan helps you manage your employees Superannuation funds
Group Unit Linked Plan Superannuation Schemes

Superannuation Schemes Many organisations realise that the statutory requirement benefits are not sufficient for their trusted employees to continue enjoying their quality of life after they retire. The HDFC Group Unit Linked Plan is a great way for an employer to show his employees that he not only takes care of them while in service, but has also ensured that they can lead a comfortable life after retirement. The HDFC Group Unit Linked plan is also a great employee retention and motivation tool that helps employers to fund their employees post-retirement needs in a systematic, tax-efficient and cost-effective manner. Moreover, as a unit-linked plan, it gives you tremendous flexibility and freedom to customise individual retirement funds for your employees based on their appetite for risk and the stage of life they are in.
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MBA 2009-11 This plan helps an organisation by:
Providing an investment vehicle to trustees for making the contribution for each member
Helping build a substantial retirement fund for each member Presenting a potential to provide higher benefits to employees Offering tax benefits for investments made through the formation of a trust
Group Leave Encashment Solution
This plan is an effective way to fund your company's Leave Encashment liability
Group Unit Linked Plan Leave Encashment Schemes

Leave Encashment Schemes Many employers provide their employees with the option of encashing their leave to their credit at the time of retirement or resignation. Accounting Standard 15 requires that an actuarial valuation of a company leave encashment liability be carried out and reflected in the books of accounts. The HDFC Group Unit Linked Plan is an innovative plan, which offers employers a flexible and cost effective way to fund this Leave Encashment liability. The plan helps an organisation by:
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Creating a fund that can be built up to meet your future leave encashment liability
Providing the opportunity to maximise investment returns and thus provide the benefit in a cost-effective manner
One factor that helps maximise investment returns is low charges. Our fund management charges are the lowest in the industry today and therefore can improve your long-term returns
HDFC SL Group Savings Plan
Exclusive plans that will let your cherished member's save effectively
HDFC SL GROUP SAVINGS PLAN

As a company or an affinity group, you want to express to your group members that you care for them, and want them to have stronger financial future. HDFCSLC GROUP SAVINGS PLAN is a simple conventional group plan wherein the company/affinity group is the policyholder & the group members /employees/depositors are the scheme members. This with profits group plan would enable your scheme members to

Provide financial protection to their loved ones Build savings in a simple & systematic manner Page 53
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Pay premiums only for a limited period of 5 years Is simple to administer Is without lengthy documentation
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Marketing strategies of HDFCSLC In India

HDFC Standard Life believes that establishing a strong and ethical foundation is an essential prerequisite for long-term sustainable growth. To ensure this, they have concentrated our focus on expansion of branch network, organizing an efficient and well trained sales force, and setting up appropriate systems and processes with optimum use of technology. As all these areas form the basic infrastructure for establishing the highest possible customer service standards. The core values are drilled down to all levels of employees, as these are inviolable. We continue to promote high integrity in business practices and shun short cuts and unethical practices, as we wish to be perceived as an institution with high moral standing. Since our inception in 2000, when the Indian insurance space was opened for private participation, we have consistently focused on setting benchmarks in all aspect on insurance business. Being the first private player to be registered with the IRDA and the first to issue a policy on December 12, 2000,
Strong Promoter
HDFC Standard Life is a strong, financially secure business supported by two strong and secure promoters HDFC Ltd and Standard Life. HDFC Ltds excellent brand strength emerges from its unrelenting focus on corporate governance, high standards of ethics and clarity of vision. Standard Life is a strong, financially secure business and a market leader in the UK Life & Pensions sector.
Preferred and Trusted Brand

Their brand has managed to set a new standard in the Indian life insurance communication space. We were the first private life insurer to break the ice using the idea of self-respect instead of death to convey our brand proposition (Sar Utha Ke Jiyo). Today, they are one of the few brands that customers recognize, like and
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MBA 2009-11 prefer to do business. Moreover, our brand thought, Sar Utha Ke Jiyo, is the most recalled campaign in its category.
Investment Philosophy
They follow a conservative investment management philosophy to ensure that their customers money is looked after well. The investment policies and actions are regularly monitored by a formal Investment Committee comprising non-executive directors and the Principal Officer & Executive Director. As a life insurance company, they understand that customers have invested their savings with us for the long term, with specific objectives in mind. Thus, our investment focus is based on the primary objective of protecting and generating good, consistent, and stable investment returns to match the investors long-term objective and return expectations, irrespective of the market condition.
Need-Based Selling Approach

Despite the criticality of life insurance, sales in the industry have been characterized by over reliance on tax benefits and limited advice-based selling. Our eight-step structured sales process Disha however, helps customers understand their latent needs at the first instance itself without focusing on product features or tax benefits. Need-based selling process, 'Disha', the first of its kinds in the industry, looks at the whole financial picture. Customers see a plan not piecemeal product selling
Risk Control Framework

HDFC Standard Life has fully implemented a risk control framework to ensure that all types of risks (not just financial) are identified and measured. These are regularly reported to the board and this ensures that the company management and board members are fully aware of any risks and the actions taken to ensure they are mitigated Abhineet Anand[0953870001] Page 56
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Focus on Training
Training is an integral part of our business strategy. Almost all employees have undergone training to enhance their technical skills or the softer behavioural skills to be able to deliver the service standards that our company has set for itself. Besides the mandatory training that Financial Consultants have to undergo prior to being licensed, we have developed and implemented various training modules covering various aspects including product knowledge, selling skills, objection handling skills and so on.
Focus on long term value

HDFC Standard Life do not focus in the business of ramping up the topline only, but to create maximization of stakeholder's value. Today, we are extremely satisfied with the base that we have created for the long-term success of this company.
Transparent Dealing
They are one of the few companies whose product details, pricing, clauses are clearly communicated to help customers take the right decision.
Strict compliance with Regulations

They have initiated and implemented many new processes, some of which were found useful by the IRDA and later made mandatory for the entire industry. The agents who successfully completed this training only, were authorized by the company to sell ULIPs. This has now been made compulsory by IRDA for all insurance companies under the new Unit Linked Guidelines.
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Diversified Product Portfolio

HDFC Standard Lifes wide and diversified product portfolio help individuals meet their various needs, be it:
Protection: Need for a sound income protection in case of your
unfortunate demise

Health: Cover for health related exigencies Savings: Save for the milestones and protect your savings too Pension: Need to save for a comfortable life post retirement Investment: Need to ensure long-term real growth of your
money
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COMPETITORS OF HDFCSLC
1. Max New York Life Insurance Co. Ltd.
. Max New York Life Insurance Company Limited is a joint venture that brings together two large forces - Max India Limited, a multi-business corporate, together with New York Life International, a global expert in life insurance. With their various Products and Riders, there are more than 400 product combinations to choose from. They have a national presence with a network of 57 offices in 37 cities across India
2. ICICI Prudential Life Insurance Company Ltd

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). The company has a network of about 56,000 advisors; as well as 7 banc assurance and 150 corporate agent tie-ups.
3. Om Kotak Mahindra Life Insurance Co. Ltd.

Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak Mahindra Bank Ltd. (KMBL), and Old Mutual plc.
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4.Birla Sun Life Insurance Company Ltd.

Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun Life financial Services of Canada.
Other life insurance companies

Tata AIG Life Insurance Company Ltd. SBI Life Insurance Company Limited ING Vysya Life Insurance Company Private Limited Allianz Bajaj Life Insurance Company Ltd. Metlife India Insurance Company Pvt. Ltd. AMP SANMAR Assurance Company Ltd. Dabur CGU Life Insurance Company Pvt. Ltd
GENERAL INSURANCE COMPANIES

1.Royal Sundaram Alliance Insurance Company Limited
The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram Finance Limited started its operations from March 2001. The company is Head Quartered at Chennai, and has two Regional Offices, one at Mumbai and another one at New Delhi
2.Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and strength.
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Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct General Insurance business (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining 26% is held by Allianz, AG, Germany.
3. ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified financial corporate engaged in general insurance, reinsurance, insurance claims management and investment management. Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance Company received regulatory approvals to commence general insurance business in August 2001.
4. Cholamandalam General Insurance Company Ltd.

Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint venture of the Murugappa Group & Mitsui Sumitomo. Chola-MS commenced operations in October 2002 and has issued more than 1.4 lakh policies in its first calendar year of operations. The company has a pan-Indian presence with offices in Chennai, Hyderabad, Bangalore, Kochi, Coimbatore, Mumbai, Pune, Indore, Ahmedabad, Delhi, Chandigarh, Kolkata and Vizag.
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5. TATA AIG General Insurance Company Ltd.

Tata AIG General Insurance Company Ltd. is a joint venture company, formed from the Tata Group and American International Group, Inc. (AIG). Tata AIG combines the strength and integrity of the Tata Group with AIG's international expertise and financial strength. The Tata Group holds 74 per cent stake in the two insurance ventures while AIG holds the balance 26 per cent stake. Tata AIG General Insurance Company, which started its operations in India on January 22, 2001, offers the complete range of insurance for automobile, home, personal accident, travel, energy, marine, property and casualty, as well as several specialized financial lines.
6. Reliance General Insurance Company Limited. 7. IFFCO Tokio General Insurance Co. Ltd 8. Export Credit Guarantee Corporation Ltd. 9. HDFC-Chubb General Insurance Co. Ltd.
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GOVERNMENT POLICIES
The Insurance Act 1938, which came into effect from 1 st july 1939, and was amended in 1950 and later in 1999, is the principal enactment relating to the business of insurance in India. The act contains provisions regarding licensing of agents and their remunerations, prohibition of rebates, and protection of policyholders interest Till the constitution of the IRDA Act in 1999, the controller of insurance was responsible for the administration of the insurance Act since 1999, the IRDA has replaced the controller of insurance. The insurance Act vest the IRDA with power to 1. Register insurance companies & also cancel their registration. 2. Monitor & certify the soundness of the terms of life insurance business 3. Make reggulation relating to the conduct of the business of the insurance 4. Inspect the document of insurers 5. Appoint additional directors 6. Issue directions 7. Take over the management of an insurer & appoint administrators 8. Adjudicate on disputes between isurers and intermediaries or between intermediaries. 9. Decide on disputes relating to settlement of claims of amounts not exceeding 2000.
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TAXATION ASPECTS
The tax law of India have always encouraged people to save through life insurance and other instruments, by providing relief from tax liabilities. The taxation law can change at any time through budget provisions or otherwise. The agent should keep himself up-to-date with the changes. Any sum received under a life insurance policy,including the bonus additions is exempt from income tax. That means that income tax does not have to be paid on policy claim & surrender amounts. This is subject to the premium being not more than 20% of the sum assured on any policy during the year. There are some exceptions to this rule.one is the amount to be refunded under certain plans, meant for the handicapped dependents. The other is a claim under a key-man insurance policy. The income of the assesse is reduced by the aggregate of amounts paid towards insurance premiums contribution to provident fund or approved superannuation funds, NSC etc,upto a maximum amount of 1 lakh. If the premium during the policy exceeds 20% of SA, only 20% will be taken into account for debate. Commuted values of pensions are exempt from income tax.
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Achievements
2006
The year witnessed the launch of My Account, a web-based facility with various policy servicing options such as switch, premium redirection to be executed by clients, without recourse to visiting a branch As against a regulatory requirement of writing 18% of all policies in rural areas, the company issued over 1, 21,000 policies accounting for more than 23% of all policies issued during the year. The company had been awarded the Intelligent Enterprise Award by the Express Computer Magazine Part of the Indian Express Group, for investing in workflow and imaging technology which helped in increasing volumes without affecting service standards. Was selected as the '4Ps Power Brand 2006', for being one of India's Top 25 'Most Innovative Companies' in an exclusive survey conducted by ICMR (Indian Council of Market Research) and 4Ps - Business and Marketing (a Business and Marketing magazine published by Planman Media). Biggest NGO covered on 28th March 2006 with 14000 lives
2007
HDFCSL expanded its reach in the Bancassurance channel by arrangements with co-operative banks in the rural areas. Continued to increase its focus on quality service, by putting in place a robust mechanism to capture Voice of the Customer through service audits across its
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offices. This was complemented by use of technology that enabled capture of all interactions with customers across all touch points Sar Utha Ke Jiyo was honoured as Among Indias 60 Glorious Advertising Moments. The advertisements of the company were ranked 6th amongst The 10 most effective Advertisements in September 2007. Received the PCQuest Best IT Implementation Award 2007 for Wonders, its pathbreaking implementation of an enterprise-wide workflow system. In addition the company also bagged the EMC storage award for being the most innovative users of storage and storage management. Pension Plan Tops Mints Survey of Best TV Ads.HDFC Standard Lifes advertising created high awareness for the brand and bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards organized by the Advertising Agencies Association of India (AAAI). The 3 awards are the highest won by any single brand in the financial services business (including banking, mutual fund, insurance and other financial services). Ranked 29th most trusted Indian Brands amongst the Top 50 Service Brands of 2006 according to a study conducted by the Brand Equity Economic Times, the leading business publication of India.
2008
Received the PC Quest Best IT Implementation Award 2008 for Consultant Corner, the applications for its financial consultants, providing centralized control over a vast geographical spread for key business units such as inventory, training, licensing, etc.
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Received the 2008 CIO Bold 100 Award for its mobile workforce portal and the Special 2008 CIO Security Award for a secure computing environment, including identity management respectively. 2009 Mr. Deepak M Satwalekar Awarded QIMPRO Gold Standard Award in 2009
Ou r Parentage
MBA 2009-11
HDFC Limited
HDFC Limited, India's premier housing finance institution has assisted more than 3.4 million families own a home, since its inception in 1977 across 2400 cities and towns through its network of over 271 offices. It has international offices in Dubai, London and Singapore with service associates in Saudi Arabia, Qatar, Kuwait and Oman to assist NRI's and PIO's to own a home back in India. As of December 2009, the total asset size has crossed more than Rs. 104,560 crores including the mortgage loan assets of more than Rs.90,400 crores. The corporation has a deposit base of over Rs. 23,000 crores, earning the trust of nearly one million depositors. Customer Service and satisfaction has been the mainstay of the organization. HDFC has set benchmarks for the Indian housing finance industry. Recognition for the service to the sector has come from several national and international entities including the World Bank that has lauded HDFC as a model housing finance company for the developing countries. HDFC has undertaken a lot of consultancies abroad assisting different countries including Egypt, Maldives, and Bangladesh in the setting up of housing finance companies.
Standard Life
Standard Life is one of the UK's leading long term savings and investments companies headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance and pensions, investment management and healthcare insurance products to over 6 million customers worldwide. The Group has around 10,000 employees across the UK, Canada, Ireland, Germany, Austria, India, USA, Hong Kong and mainland China. At the end of December 2010 the Group had total assets under administration of 170.1bn.
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MBA 2009-11 Standard Life's diverse business includes one of the largest life and pensions businesses in the UK with more than 4 million customers; Standard Life Investments, which currently manages assets of over 138.7bn globally and Standard Life Healthcare, a private medical insurance company which is one of the largest in the UK. On 10 July 2006, after 80 years as a mutual company, Standard Life Assurance Company demutualised and Standard Life plc was listed on the London Stock Exchange. Standard Life now has approximately 1.5 million individual shareholders in over 50 countries around the world .
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O ur Investment Committee
In addition to the various plan features , what makes our plans a truly obvious choice is our investment expertise. This expertise comes as a result of the combined experience of our investment management team comprising of our own investment committee and HDFC Asset Management Company in an advisory capacity.
HDFC Standard Life Investment Committee
Mr. Deepak S. Parekh is the Chairman of HDFC Standard Life Insurance Company Ltd. and is the Executive Chairman and CEO of Housing Development Finance Corporation Limited (HDFC). He is a Fellow of the Institute of Chartered Accountants (England & Wales). He has been on the board of several committees set-up by the Government of India and other regulatory bodies
Mr. Paresh Parasnis is the Principal Officer and Executive Director of the HDFC Standard Life Insurance Company Ltd. and is a fellow of Institute of Chartered Accountants of India. He has been associated with HDFC Ltd. since 1984 and has been the founding member of the insurance company
Mr. Keki M. Mistry is the Managing Director of HDFC Limited. Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants
Ms. Vibha Padalkar is the CFO of HDFC Standard Life Insurance Company Ltd. Ms. Vibha is a 1992 Member of Institute of Chartered Accountants of England and Wales
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Mr. Ashley Rebello is the Appointed Actuary of HDFC Standard Life Insurance Company Ltd. He is a Fellow of the Institute of Actuaries of India and Fellow of UK Institute of Actuaries.
Mr. Prasun Gajri is the Chief Investment Officer of HDFC Standard Life and is responsible for managing the entire portfolio of the company. He holds a PGDM from IIM Ahmedabad and is also a CFA Charter holder.
Mr. Amitabh Chaudhry is the Managing Director and CEO of HDFC Standard Life Insurance Company. He holds a bachelors degree in Engineering from BITS Pilani and MBA from IIM Ahmedabad.
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INSURANCE
WHAT IS INSURANCE?
The business of insurance is related to the protection of the economic value of assets. Every assets has a value. The assets would have been created through the efforts of the owner. The asset is valuable to the owner, because he expects to get some benefits from it. It is a benefit because it meets some of his needs. The benefit may be an income or in some other form. The business of insurance is related to the protection of the economic values of assets. Every asset has a value. The asset would have been created through the efforts of the owner. The asset is valuable to the owner, because he expects to get some benefit may be an income or in some other form. It is a benefit because it meets some of his needs. The benefit may be an income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor car, it provides comfort and convenience in transportation. There is no direct income. Both are assets and provide benefits. Every asset is expected to last for a certain period of time during which it will period of time during which it will provide the benefits. After that, the benefit may not be available. There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or lifetime, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. We can classify insurance in these terms:-
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MBA 2009-11 It is a system by which the losses suffered by a few are spread over many, exposed to similar risks. Insurance is a protection against financial loss arising on the happening of an unexpected event. It is essential that: The calamity is either natural or unexpected The insured person does not gain out of this arrangement
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Scope of insurance
We all know that assets are insured, because they are likely to be destroyed or made nonfunctional before the expected life time, through accident occurrences. Such possible occurrences are called perils. Perils are the events. Risks are the consequential losses or damages. The risk to an owner of a building may be a few lakhs or a few crores of rupees, depending on the cost of building, the contents in it and the extent of damage. The risk only means that there is a possibility of loss or damage. Insurance is done against the possibility that the damage may happen. There has to be an uncertainty about the risk. The word possibility implies uncertainty. Insurance is relevant only if there are uncertainties. Insurance does not protect the asset. It does not prevent its loss due to the peril. The peril cannot be avoided through insurance. The risk can sometimes be avoided, through better safety and damage control measures. It only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. They are the ones who benefit from the asset and therefore, would lose, when the asset is damaged. Insurance compensates for the losses- and that too, not fully. In conclusion we can say that the scope of insurance is very broad and specific because it reduces the losses and risk of owner of the assets due to perils. It also gives supports to the person in the period of adverse situation. It insured economic consequences. When a person saves, the amount of funds available at any time is equal to the amount of money set aside in past, plus interest. Insurance has no substitute and one more thing about the insurance is that this is not similar to a hire purchase scheme. In the event of death, the balance installments are not excused. They have to be paid by the surviving family. There is a tax benefits, both in income tax and in capital gins. Marketability and liquidity are better. Life insurance is not only the best possible way for family protection there is no other way. The term of life is hard but the terms of insurance are easy
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OBJECTIVES
When we talk about objective of the insurance sector we can divide it into three categories which are thus.
Broad
Increased coverage of the population
Specific
Customer has a wider choice & range of products Service standards to customer
Economic
Savings mobilization In this objective part the first part deals with its market share because it deals with all people who live in India and it has a broad market potential. So the main motto is to increase and entice more and more people for insurance. In the second part it deals with innovative plans and schemes for the wider choice of people and different range of products of its competitors. It tries to serve its customer with significant way. HDFCSLC invest the investment in the share market through the unit link plan and get and give significant return from the markets and satisfy their customer. We are All at risk" A little mouse living on a farm was looking through a crack in the wall one
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MBA 2009-11 day and saw the farmer and his wife opening a package. \ The mouse was intrigued by what food the package may contain. He was aghast to discover that it was a mousetrap. The mouse ran to the farmyard warning everyone "there is a mouse trap in the house, there is a mouse trap in the house." The chicken raised his head and said "Mr. Mouse, I can tell you this trap is a grave concern to you, but it has no consequence to me and I cannot be bothered with it. " The mouse turned to the pig "I am so very sorry Mr. Mouse, but the trap is no concern of mine either." The mouse then turned to the goats, "sounds like you have a problem Mr. Mouse, but not one that concerns me." The mouse returned to the house, head down and ejected that no one would help him or was concerned about his dilemma. He knew he had to face the trap on his own. That night the sound of a trap catching its prey was heard throughout the house. The farmer's wife rushed to see what was caught. In the darkness she could not see that it was a venomous snake who's tail the trap had caught. The snake bit the farmers wife. The wife caught a bad fever and the farmer knew the best way to treat a fever was with chicken soup. The farmer took his hatchet to the farmyard to get the soups main ingredient. The wife got sicker and friends and neighbors came by to take turns sitting with her round the clock. The farmer knew he had to feed them, so he butchered the pig.
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MBA 2009-11 The farmer's wife did not get better, in fact she died and so many friends and family came to her funeral that the farmer had to slaughter the goats to feed all of them. So the next time we hear that one of our team-mates is facing a problem and think it does not concern or affect us, Let us remember that when anyone of us is in trouble, We are All at risk.
THE HISTORY OF INDIAN INSURANCE INDUSTRY

MBA 2009-11
Life Insurance
In 1818 the British established the first insurance company in India in Calcutta, the Oriental Life Insurance Company. First attempts at regulation of the industry were made with the introduction of the Indian Life Assurance Companies Act in 1912. A number of amendments to this Act were made until the Insurance Act was drawn up in 1938. Noteworthy features in the Act were the power given to the Government to collect statistical information about the insured and the high level of protection the Act gave to the public through regulation and control. When the Act was changed in 1950, this meant far reaching changes in the industry. The extra requirements included a statutory requirement of a certain level of equity capital, a ceiling on share holdings in such companies to prevent dominant control (to protect the public from any adversarial policies from one single party), stricter control on investments and, generally, much tighter control. In 1956, the market contained 154 Indian and 16 foreign life insurance companies. Business was heavily concentrated in urban areas and targeted the higher echelons of society. Unethical practices adopted by some of the players against the interests of the consumers then led the Indian government to nationalize the industry. In September 1956, nationalization was completed, merging all these companies into the so-called Life Insurance Corporation (LIC). It was felt that nationalization has lent the industry fairness, solidity, growth and reach.
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MBA 2009-11
Some of the important milestones in the life insurance business in India

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 to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956: The market contained 154 Indian and 16 foreign life insurance companies.
General Insurance
The General Insurance industry in India dates back to the Industrial Revolution and the subsequent increase in trade across the oceans in the 17th century. As for Life Insurance, the British brought General Insurance to India, and a similar path was followed in the development of this industry. A number of private companies were in existence for years and years until, in 1971, the Indian Government decided that the public interest would be served by nationalizing the industry, merging all the 107 companies into four companies, depending on the sort of business transacted (Marine, Fire, Miscellaneous). These were the National Insurance Company Ltd., the Oriental Insurance Company Ltd., the New India Assurance Company Ltd., and the United India Insurance Company Ltd. located in Calcutta, New Delhi, Bombay and Madras respectively. The General Insurance Corporation (GIC) was set up in 1972 as a holding company, having these four companies as its subsidiaries.
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MBA 2009-11 The new players have improved the service quality of the insurance. As a result LIC down the years have seen the declining phase in its career. The market share was distributed among the private players. Though LIC still holds the 75% of the insurance sector but the upcoming natures of these private players are enough to give more competition to LIC in the near future. LIC market share has decreased from 95% (2002-03) to 82 %( 2004-05) & now it is apptropritde between 65-75%
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MBA 2009-11
The Future Prospects

The most successful and admired life insurance company, which mean that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. In short, The most obvious choice for all For retention in the market and highest market share, we need trust of our customer. The customer should trust on our policies, services, employs and they should be friendly with us. It wants to live in the eye and heart of the customer. It wants to give them the easiest deal so that they can be understood the terms and policies. As we know that profit is the main aim of any business but it think not only about his profit but also profit of the customer. It wants to be the choice of all people on the basis of trust of customer, delivering high value to the customer, and deliver of best value of the money
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MBA 2009-11
About The Project Topic

This project is an attempt to deep & thorough approach of knowing about the financial product in Indian-subcontinent, A deep attempt was made to know about how much people are aware about the importance of Insurance & are they are interested in associating with HDFCSLC or not. At the present scenario of business world, the company requires to attract the potential investors towards insurance. This project is actually to find out what actually financial products are & what are their importance in todays scenario in human life, what are their features and types pof financial products. Some points are listed below which can be considered as the objective of this project topic; To know about the financial products of HDFCSLC. How much people are aware about Insurance. Seeking potential investors for HDFCSLC. Creating awareness among people.
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MBA 2009-11
QUESTIONNAIRE
1.Do You Have Any Insurance Policy? a) Yes b) No
39%
61%
YES NO
Fig 3.1 INTERPRETATION Through this analysis, I found out that 61% dont have policy and 31% have the policy.
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MBA 2009-11
2. Which Cos Insurance Policy You Prefer The Most? (Rank Them) A) C) E) G) LIC SBI LIFE INSURANCE RELIANCE LIFE INSURANCE Any Other________( Specify) B) D) F) ICICIPRUDENTIAL HDFCSLC TATA AIG LIFE
70% 60% 50% 40% 30% 20% 12% 10% 0% LIC ICICI SBI HDCSLCF RELIENCE TATA AIG 10% 11% 2% 3% 59%
LIC ICICI SBI HDCSLCF RELIENCE TATA AIG OTHES
Fig 3.2 INTERPRETATION Through this analysis, I found out that 59% show their interest towards LIC , 12 % on ICICI 11% on HDFCSLC, , 10% on SBI, , 3 % on Tata AIG , 3 % on others & 2% on RELIENCE.
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3. For How Many Years Do You Have Insurance Policy? (Please Tick) a) c) <5Yrs 10-15 Yrs b) d) 5-10 Yrs Any Other______(Specify)
15%
4%
22%
< 5Yrs 5-10Yrs 10-15Yrs 59% ANY OTHERS
Fig 3.3 INTERPRETATION Through this analysis, I found out that 22% have taken policy for 5 years, 59% has taken for 5-10 years, 15% had taken for 10-15 years & 4% had taken any other.
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4. What Do You Think Are The Benefits Of Insurance Cover? (Rank Them) A) Cover Future Uncertainty B) Tax Deductions C) Future Investment
10% 22% Cover future uncertaiity 68% Tax deduction Future investm ent
Fig 3.4 INTERPRETATION Through this analysis, I found out that most of the people thinks that insurance covers uncertainty i.e. 68% ,22% thinks it is effective in tax deduction, only few i.e. 10% know that is can be a future investment. People were unable to give any other benefits of insurance.
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MBA 2009-11
5. Which Feature Of Your Policy Attracted You To Buy It? (Rank Them) A) C) Low Premium Money Back Guarntee B) D) Larger Risk Coverance Reputation Of Company
60%
55%
50%
40%
Low prem ium Larger back coverage Moneyback gurantee 20% Reputation of com pany
30%
20%
15% 10%
10%
0% Lowprem ium Larger back coverage Money back gurantee Reputation of com pany
Fig 3.5 INTERPRETATION Through this analysis, I found out that people who prefer policy having lower premium is 15% people who had taken policy to cover larger risk were 55% ,people taken policy for money back guarantee is 20% & only 10 % prefer reputation of the company for taking policy.
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MBA 2009-11
6. Your Monthly Income? A) C) E) <10k 20k-25k Other_____(Specify) B) D) 10k-20k 25k-30k
35%
30%
25% OTHERS 20% 35% 15% 27% 25K-30K 20k-25K 10K-20K < 10K
10% 15% 5% 10% 13%
0% < 10K 10K-20K 20k-25K 25K-30K OTHERS
Fig 3.6 INTERPRETATION
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MBA 2009-11 Through this analysis, I found out that People having salary less than 10k is 10% ,people having salary between 10k-20k is 15% people having salary between 20-25k is 27% and person having salary between 25-35 is 35% and others are 13%
7. Whats Your Perception About Insurance?(Rank Them) A) A Saving Tool

90% 80% 70% 60% 50% 40% 30% 20% 10% 0% A Saving Tool A TaxSaving Device A Tool To Protect Future 18% 78%
B) A Tax Saving Device
C)
A Tool To Protect Future
A Saving Tool A TaxSaving Device A Tool To Protect Future
4%
3.7 INTERPRETATION Most of the people think insurance as a tool to protect the future i.e. 78% and 18 % think as a saving tool because it provides return. Only 4% think it is a tax saving device. People are still unaware of other benefits of insurance.
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MBA 2009-11 8. How Has/Would You Bought/Buy Insurance? A) B) Customer Approached Insurance Cos Insurance Cos Approached Custome
Fig 3.8 INTERPRETATION Now also companies are approaching to customers it is 71% but nowadays customers are also approaching to companies as they want good investment i.e. 29%
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MBA 2009-11 9. Are You Satisfied With The Policy? A) Satisfied Saving Tool B) Not Satisfied C) Not Responding
80% 70% 60% 50% 40% 30% 20% 10% 0%
73%
23%
4%
Satisfied saving tool
Not Satisfied
Not Responding
Fig 3.9 INTERPRETATION Most of the people are satisfied with their policy because insurance is the only tool which covers the risk and provide protection they are 73% & person who also want other benefit they are not satisfied they are 23% and 4 % doesnt respond to the question.
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MBA 2009-11 10. Which Is The Best Form Of Investments? (Rank Them) A) Fixed Assets B) D) Bank Deposits Securities, I.E. Bonds, Mfs
C) Precious Items
17% 9% 41% Fixed assets Bank deposits Preciousitem s 33% Securities, i.e. Bonds,MFs
Fig 3.10 INTERPRETATION 41% thinks fixed assets best because of increasing value of land & building. 33 % had ranked bank deposit as 1st because it provides gurantee return & it is save. 9% think precious items because the rate of gold is increasing consistently. Rest think securities it includes shares, debentures,mutual funds ,insurance i.e 17%
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MBA 2009-11 11). Have You Heard About HDFCSLC? A) Yes

100 50 0 1s t Qtr Es at Wes t North
B)
No
Fig 3.11 INTERPRETATION In this question most of the people that is 79 % people know about HDFCSLC while 21% are still unaware about it.
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MBA 2009-11 12. From Where You Have Known About HDFCSLC? A) Advertisement C) Newspaper
58%
B) Peers D) Through Agent
60% 50% 40% 30% 20% 10% 0%
24% 8% 10%
Advertisement Peers Newspaper Through Agents
Fig 3.12 INTERPRETATION Most of the people come to know about HDFCSLC through advertisement i.e. 58%, Newspaper is the second important source to which people come to know about the company i.e. 24%, then through agents 10% & at last through their peers 8%
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MBA 2009-11 13. Do Want To Associate With HDFCSLC? A) Yes B) No C) Cant Say
80% 70% 60% 50% 40% 30% 20% 10% 0% Yes 13%
71%
Yes No Can't Say 16%
No
Can't Say
Fig 3.13 INTERPRETATION Now also people lack trust in private companies 71% doesnt show interest in associating with HDFCSLC 13% were ready to associate & 16% said they cant say about it.
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MBA 2009-11 14. What Do You Intent To Gain From Investments? A) C) Saving & Returns Tax Benefits B) D) Security All
60%
50%
50%
40%
30% 25% 20% 15% 10% 10%
0% Saving & Returns Security Tax Benefits All
Fig 3.14 INTERPRETATION Nowdays people want all the benefits i.e. saving & return, securities,tax benefits so almost 50% people want all this features in one investment.
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15. What Would You Look For In An Insurance Cos? (Rank Them) A) C) . A Trusted Name Good Plans B) Friendly Service & Responsiveness
D) Accessibility
8%
26%
42%
A Trusted nam e FriendlyService & Responsivenes Good Plans Accessibility
24%
Fig 3.15 INTERPRETATION
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MBA 2009-11 Most of the investor want a trusted name in insurance almost 42% then they give preference to good plans i.e. 26, 24% give priority to friendly service & responsiveness, & 8% give priority to accessibility.
FINDINGS
1) During the survey now also people are not aware of life insurance. They think it as wastage of money 61% people dont have insutance policy. 2) Now also people most people had faith in LIC because it is a government company and the oldest also. But people are also started trusting on private companies because they provide better service as well as comfort to customer. 3) Mostly the people take life insurance for 5 to 10 years; mainly young people take policy for longer period. 4) Now a days also people are thinking insurance cover future uncertainty, they dont know the other benefits of the insurance. They are not aware that insurance is a tool of investment also. 5) Mostly the people are attracted if there is low premium in the insurance, then they give preference to money back guarantee and large risk cover. 6) Mostly the people whom survey was done told their salary 25k to 35k as they include engineers, doctors, managers etc. 7) Most people think that insurance is a tool to protect future, it shows that they are not aware of other benefits of insurance. 8) In survey it was found that the insurance companies are approaching to the customers through financial consultant as well as managers. They help financial consultants to make the customer aware about the products and their benefits. Abhineet Anand[0953870001] Page 98
MBA 2009-11
9) In the survey it was found that mostly people are satisfied with the insurance because it is only tool which covers life though some are not. 10) Most people give preference to fixed assets (land & building specially) as their prices increases very quickly. 11) In the survey it was found that most people had heard about HDFCSLC i.e. 79% 12) Most of the people come to know about HDFCSLC through advertisement i.e. 58%, Newspaper is the second important source to which people come to know about the company i.e. 24%, then through agents 10% & at last through their peers 8% 13) Most of the people dnt want to assosiate with HDFCSLC. 14) In the survey it was found that people wants saving and return, security as well as tax benefits in the investment. 15) Most of the investor want a trusted name in insurance almost 42% then they give preference to good plans i.e. 26, 24% give priority to friendly service & responsiveness, & 8% give priority to accessibility.
. Abhineet Anand[0953870001] Page 99
MBA 2009-11
Recommendation
1) As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. The company should try to expand & build up its infrastructure because there is a large potential for insurance in India. 2) Company should come up with its branch in Southern parts. With the objective and goals to meet the demands & expectations of the public. Because the entrance of private players will increase the competition and it would be a tough task to secure a good position in market. 3) Since HDFC Standard Life Insurance Company Ltd is leading with several companies policies it should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship.
4) As seen from the survey that at present most of the customer are having insurance policy out of which many of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers.
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5) As the company has completed its ten years now it has become a trusted name in life insurance field so company should try to take advantage of this fact. 6) As company believes in innovation it should try to bring new plan which are more flexible and make it known to customer. 7) As people are now also mostly trust Government Company so HDFCSLC as a private company had to put more effort to attract the new customer. 8) Company requires to open new branches all over India.(specially rural areas).
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SWOT ANALYSIS
STRENGTHS
1) Company had a good infrastructure 2) As company has completed its 10 years it has become a trusted name in insurance sector. 3) Company has a brand name of HDFC. 4) Company is growing very well it is near about to become profit earning company.. 5) As company believes in innovation it is the positive aspect of the company . 6) Large and competent work force
WEAKENESS 1) As it is a private company people dont have much trust on private companies 2) Company dont have branches all over India specially rural area.
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OPPORTUNITY 1) As insurance had good future in India company had chance to grow 2) As now people are interested in taking new investment and insurance had also become a tool of investment so company had the chance to attract new investors 3) Effectively meet the demand create by way of operation visitor creating awareness among the rural consumer.
THREATS 1) Other insurance companies had created tough competition. So they are threat for the company. 2) Sudden change done by the IRDA in rules regarding in insurance 3) People dont think that life insurance is essential for them.
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CONCLUSION
1) Our exhaustive research in the field of Life Insurance threw up some interesting trends which can be seen in the above analysis. A general impression that I gathered during Data collection was the lack of awareness and knowledge among people about the benefits of insurance products. People are beginning to look beyond LIC for their insurance needs and are willing to trust private players with their hard earned money. 2) People in general have been impressioned by the marketing and advertising campaigns of insurance companies. A high penetration of print , radio and Television ad campaigns over the years is beginning to have its impact now. Like HDFCSLCs advertisement Sir uttha ke jiyo become very popular. 3) Another heartening trend was in terms of people not viewing insurance as a tax saving and investment instrument as much as a protective one. A very high number of respondents have opted for insurance for only protection purposes and it shows how insurance companies have not been successful to attract public money in recent times. 4) The general satisfaction levels among public with regards to policy and agents still requires improvement. But therein lies the oppurtunity for a relative new comer like HDFC Standard Life Insurance Company Ltd . LIC has never been known for
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MBA 2009-11 prompt service or customer oriented methods and HDFC Standard Life can build on these fact
BIBLIOGRAPHY 1. BOOKS/MAGAZINES REFFERED:

Study Guide- Princiles & Practices Of Life General Insurance, By Aima.
Books Published By Insurance Institute Of India Life-Insurance, By Mc Gill Insurance Watch. Money Out Look. IRDA IC-33
2. WEBSITES REFFERED:
1) www.cifainsurance.com
2) www.moneyoutlook.com
3)
www.insurance.ind.com Page 105
MBA 2009-11 4) www.hdfcinurance
Annexure
QUESTIONNAIRE
Name Contact No
Address Income 1.Do You Have Any Insurance Policy? A) Yes B) No
2. Which Cos Insurance Policy You Prefer The Most? (Rank Them) A) LIC C) SBI LIFE INSURANCE E) G) RELIANCE LIFE INSURANCE Any Other________( Specify B) D) F) ICICIPRUDENTIAL HDFCSLC TATA AIG LIFE
3. For How Many Years Do You Have Insurance Policy? (Please Tick) A) C) <5yrs 10-15 Yrs B) D) 5-10 Yrs Any Other______(Specify)
4. What Do You Think Are The Benefits Of Insurance Cover? (Rank Them) A) Cover Future Uncertainty B) Tax Deductions C) Future Investment Page 106
MBA 2009-11 5. Which Feature Of Your Policy Attracted You To Buy It? (Rank Them) A) C) Low Premium Money Back Guarntee B) D) Larger Risk Coverance Reputation Of Company
6. Whats Your Perception About Insurance?(Rank Them) A) A Saving Tool B) A Tax Saving Device C) A Tool To Protect Future
7. How Has/Would You Bought/Buy Insurance? A) B) Customer Approached Insurance Cos Insurance Cos Approached Customer
8. Are You Satisfied With The Policy? A) Satisfied Saving Tool B) Not Satisfied C) Not Responding
9. Which Is The Best Form Of Investments? (Rank Them) A) C) Fixed Assets Jewellery B) D) Bank Deposits Securities, I.E. Bonds, Mfs
10. Have You Heard About HDFCSLC? A) Yes B) No
11. From Where You Have Known About HDFCSLC? A) Advertisement C) Newspaper B) Peers D) Through Agent
12. Do you want To Associate With HDFCSLC? A) Yes B) No C) Cant Say
13. What Do You Intent To Gain From Investments? Abhineet Anand[0953870001] Page 107
MBA 2009-11 A) Saving & Returns C) Tax Benefits
B) D)
Security All
14. What Would You Look For In An Insurance Cos? (Rank Them) A) C) A Trusted Name Good Plans B) D) Friendly Service & Responsiveness Accessibility
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MBA 2009-11

OBJECTIVE OF THE STUDY

SCOPE AND LIMITATION OF STUDY SCOPE OF STUDY

LIMITATIONS 1) Small Sample size:

SAMPLE DESIGN Area of Sample:

The areas covered up in this survey was LUCKNOW

Selection of units under study:

AREA OF LUCKNOW WHERE SURVEY IS DONE

Source list (Sampling Frame):

METHOD OF DATA COLLECTION Research Method/Technique:

THE COMPANYS BACKGROUND

HDFC Standard Life Vision and Values

Value that will be observed while we work with HDFCSLC 1. Integrity

5. Team work One for all and all for one

6. Joy and simplicity

HDFC GROUP COMPANIES

Brief Profile of The Management Team

HDFC Mutual Fund

HDFC ERGO General Insurance

THE COMPANYS PRODUCT LINE

HDFC Unit Linked Pension HDFC Unit Linked Pension Plus

FEATURES OF THE PRODUCT OF HDFCSLC 1) PROTECTION PLAN

Types of Protection Plans

Types of Retirement Plans

Let Us Help You Choose The Right Plan For You

Return on the policy is in the form of bonus payable on maturity

3)Savings & Investment Plans

Why do we need Savings & Investment Plans?

Types of Savings & Investment Plans

Premium/ HDFC Single Premium Whole of Life Page 39

Let Us Help You Choose The Right Plan For You

HDFC Endowment Super

MBA 2009-11 HDFC Endowment Supreme

Why do we need Health Plans?

Types Of Health Plans

Let Us Help You Choose The Right Plan For You

MBA 2009-11 Helps you secure your childs dreams

What is the need of Childrens Plans?

Standard Life Survey 2008. Inflation assumed as 6% p.a.

Types of Childrens Plans

Let Us Help You Choose The Right Plan For You

This plan offers Protection to an organisation's employees

Group Term Insurance Plan

Optional Rider Benefits

Group Variable Term Insurance Plan

Group Variable Term Insurance Plan

Is a group policy Has no lengthy underwriting procedure Is simple to administer

The policy is without any participation in the insurers profits

Group Gratuity Solutions

Group Unit Linked Plan Gratuity schemes

Group superannuation plan

This plan helps you manage your employees Superannuation funds

Group Unit Linked Plan Superannuation Schemes

MBA 2009-11 This plan helps an organisation by:

Group Leave Encashment Solution

Group Unit Linked Plan Leave Encashment Schemes

HDFC SL Group Savings Plan

HDFC SL GROUP SAVINGS PLAN

Marketing strategies of HDFCSLC In India

Preferred and Trusted Brand

Need-Based Selling Approach

Risk Control Framework

Focus on long term value