A SUMMER TRAINING PROJECT REPORT 0N

PERFORMANCE ANALYSIS OF HDFC LIFE

SUBMITTED TO MAHAMAYA TECHNICAL UNIVERSITY, NOIDA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION

SUPERVISOR CA Ekta Jain Assistant Professor

INVESTIGATOR Rumeet Kaur Roll No: 1026370047

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VIDYA SCHOOL OF BUSINESS BAGHPAT ROAD, MEERUT UTTAR PRADESH

Company Certificate

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College Certificate
It is certified that the summer training project report entitled PERFORMANCE ANALYSIS OF HDFC LIFE submitted in partial fulfillment of the requirement for the degree of Master of Business Administration, to Mahamaya Technical University, Noida is a record of bonafide Summer Training project work carried out by Ms. Rumeet Kaur, Roll No -1026370047. The data given in the summer training project report is genuine and original to the best of my knowledge. The summer training project report is complete in all respect and is fit for submission.

Date:

(Dr Satish Kumar) Director

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DECLARATION
It is certified that the Summer Training Project Report entitled PERFORMANCE ANALYSIS OF HDFC LIFE submitted in partial fulfillment of the requirement for the degree of Master of Business Administration of Mahamaya Technical University, Noida is a record of bonafide Summer Training project work conducted by me. I have collected the data personally. The data given in the Summer Training Project Report is genuine and original. Further, I also declare that it not submitted to any other university for the award of any degree or diploma.

Date:

Name Rumeet Kaur Roll No 1026370047 Session 2011-12 Address 111, Arvind Puri, Sadar Bazar, Meerut Cantt

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ACKNOWLEDGEMENT
It gives me immense pleasure to express my indebtedness and deep sense of gratitude to my supervisor and guide Ms. Ekta Jain Assistant Professor, Vidya school Of Business, Meerut for his valuable and scholarly guidance. Her sympathetic and helpful attitude and motivation helped me to work on this dissertation. I am extremely grateful to Dr. Satish Kumar, Director, Vidya School of Business, Meerut for having extended his guidance during the course of this research project. I wish to express my sincere regards and heartfull thanks to Mr.Sachin Chauhan, Class Coordinator and Mr. P. K. Roopak, Co-ordinator , Summer Training Project Report, Vidya School of Business, for their cooperation that enabled me to complete this dissertation. I am extremely thankful to Mr. P.K. Pathak, Librarian, & Mr Pawan Kumar , Asstt. Librarian of this college for gracious cooperation in making this research projects a success.

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This acknowledgement would be incomplete without grateful mention of all the people who formed the sample and were kind enough to fill in the questionnaire and respond warmly to my questions. I acknowledge my heartfull gratitude to my dear father and mother Sh. Ranbir Singh & Smt. Kuljeet Kaur respectively. Rumeet Kaur MBA-3rd Sem

CONTENTS
CHAPTER Chapter - I 1 1.1 1.2 Chapter II 2 2.1 2.2 2.3 2.4 2.5 2.6 ITEMS Introduction about the Industry
General Introduction about the Industry Main Players

PAGE NO. 10 11 - 15 16 22 23 24 27 28 30 31 34 35 38 39 43 44 - 46

Introduction about Organization and Topic General introduction of the Organization HDFC Standard Life Insurance parentage Mission, Vision and Objectives Areas of Operations History of the Organization Achievements

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2.7 2.8

Organizational Structure Company's products, services Protection Plans Children Plans Retirement Plans Saving & Investment Plans Health Plans

47 48 56 57 61 62 66 67 - 70 71 - 74 75 - 76 77 - 79 80 81 - 83 84 85 86 87 - 88 89 107 108 109 115 116

2.9 Chapter III 3 3.1 3.2 3.3 3.4 3.5 Chapter-IV Chapter-V 4 5 5.1 5.2

Financial Analysis METHODOLOGY AND PROCEDURE

INTRODUCTION RESEARCH METHOD USED POPULATION AND SAMPLE TOOLS USED FOR DATA COLLECTION PROCEDURE OF DATA COLLECTION ANALYSIS AND INTERPRETATION OF DATA FINDINGS RECOMMENDATIONS

Findings Suggestions

5.3 5.4

Conclusions Limitations

117 118 119

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5.5 5.6

References Appendics (Questionnaire)

120 121 122 - 124

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LIST OF TABLES
CHAPTER ChapterIV 4 4.1 TITLE OF TABLE
ANALYSIS AND INTERPRETATION OF DATA

PAGE NO.

Analysis of short term solvency ratios Current Ratio Quick Ratio 90 92

4.2

Analysis of Profitability Ratio Gross Profit Ratio Net Profit Ratio 94 96

4.3

Analysis Of long term solvency ratios Debt- Equity Ratio 98

Chapter-V

FINDINGS RECOMMENDATIONS (a) Various plans choosen by respondandts (b) Purpose of investments (c) Various plans taken for family (d) Mode of payment for premium (e) Time for payment of premium

109 110 111 112 113

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(f) Areas for investment of money

114

LIST OF FIGURES
CHAPTER ChapterIV 4 4.1 TITLE OF FIGURE
ANALYSIS AND INTERPRETATION OF DATA

PAGE NO.

Analysis of short term solvency ratios Current Ratio Quick Ratio 91 93

4.2

Analysis of Profitability Ratio Gross Profit Ratio Net Profit Ratio 95 97

4.3

Analysis Of long term solvency ratios Debt- Equity Ratio 99

Chapter-V

FINDINGS RECOMMENDATIONS (a) Various plans choosen by respondandts (b) Purpose of investments

109 110

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(c) Various plans taken for family (d) Mode of payment for premium (e) Time for payment of premium (f) Areas for investment of money (g) Level of satisfaction

111 112 113 114 115

CHAPTER
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Introduction to Insurance

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1.1 GENERAL

INTRODUCTION ABOUT THE INDUSTRY:

Overview
The story of insurance is probably as old as the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era past few centuries yet its beginnings date back almost 6000 years. The first two decades of the twentieth century saw lot of growth in insurance business. From 44 companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total business-in-force as Rs.298 crore in 1938. The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over insurance business.

Some of the important milestones in the life insurance business in India are:

1818: Oriental Life Insurance Company, the first on Indian soil started functioning.

life insurance company

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1870: Bombay Mutual Life Assurance Society, the first Indian insurance company started its business.

life

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: 245 Indian and foreign insurers and provident societies are taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance

business in India, on the other hand, can trace its

roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

Some of the important milestones in business in India are:

the general insurance

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1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. 1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. With largest number of life insurance policies in force in the world, Insurance happens to be a mega opportunity in India. Its a business growing at the rate of 15-20 per cent annually and presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per cent to the countrys GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per cent of GDP. Yet, nearly 80 per cent of Indian population is without life insurance cover while health insurance and non-life insurance continues to be below international standards. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This itself is an indicator that growth potential for the insurance sector is immense. A well-developed and evolved insurance sector is needed for economic development as it provides long term funds for infrastructure development and at the same time strengthens

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the risk taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country.

India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries. India insurance is a flourishing industry, with several national and international players competing and growing at rapid rates. Thanks to reforms and the easing of policy regulations, the Indian insurance sector been allowed to flourish, and as Indians become more familiar with different insurance products, this growth can only increase, with the period from 2010 - 2015 projected to be the 'Golden Age' for the Indian insurance industry.

Present Scenario
The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership.

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The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. In the private sector 14 life insurance and 8 general insurance companies have been registered. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies.

India Insurance Policies at a Glance

Indian insurance companies offer a comprehensive range of insurance plans, a range that is growing as the economy matures and the wealth of the middle classes increases. The most common types include: term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit-linked insurance plans, group insurance policies, pension plans, and annuities. General insurance plans are also available to cover motor insurance, home insurance, travel insurance and health insurance.

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1.2 MAIN PLAYERS:

Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the message of life insurance in the country and mobilise peoples savings for nationbuilding activities. LIC with its central office in Mumbai and seven zonal offices at Mumbai, Calcutta, Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates through 100 divisional offices in important cities and 2,048 branch offices. LIC has 5.59 lakh active agents spread over the country. The Corporation also transacts business abroad and has offices in Fiji, Mauritius and United Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, Ken-India Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur; and Life Insurance Corporation (International), E.C. Bahrain. It has also entered into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pension policies in U.K. In 1995-96, LIC had a total income from premium and investments of $ 5 Billion while GIC recorded a net premium of $ 1.3 Billion. During the last 15 years, LIC's income grew at a healthy average of 10 per cent as against the industry's 6.7 per cent growth in the rest of Asia (3.4 per cent in Europe, 1.4 per cent in the US).

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LIC has even provided insurance cover to five million people living below the poverty line, with 50 per cent subsidy in the premium rates. LIC's claims settlement ratio at 95 per cent and GIC's at 74 per cent are higher than that of global average of 40 per cent. Compounded annual growth rate for Life insurance business has been 19.22 per cent per annum

General Insurance Corporation of India (GIC)

The general insurance industry in India was nationalized and a government company known as General Insurance Corporation of India (GIC) was formed by the Central Government in November 1972. With effect from 1 January 1973 the erstwhile 107 Indian and foreign insurers which were operating in the country prior to nationalization, were grouped into four operating companies, namely, (i) National Insurance Company Limited; (ii) New India Assurance Company Limited; (iii) Oriental Insurance Company Limited; and (iv) United India Insurance Company Limited. (However, with effect from Dec'2000, these subsidiaries have been de-linked from the parent company and made as independent insurance companies). All the above four subsidiaries of GIC operate all over the country competing with one another and underwriting various classes of general insurance business except for aviation insurance of national airlines and crop insurance which is handled by the GIC.

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Besides the domestic market, the industry is presently operating in 17 countries directly through branches or agencies and in 14 countries through subsidiary and associate companies.

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LIFE INSURANCE COMPANIES 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.

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.

Om Kotak Mahindra Life Insurance Co. Ltd.

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

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. 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.

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GENERAL INSURANCE

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. 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 and Germany.

3. ICICI Lombard General Insurance Company Limited

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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, Ahmadabad, Delhi, Chandigarh and Kolkata.

5. TATA AIG General Insurance Company Ltd.

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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.

Reliance General Insurance is one of Indias leading general insurance companies possessing over 94 customized insurance products and services that caters for the corporate houses, small and medium sized enterprises and individuals. It has launched innovative products and services such as Indias first Over-the-counter health and home insurance policies. Its extensive network extends to over 200 offices spread across 173 cities in 28 states of India, a wide-distribution network, 24 x 7 customer service facilities. It is the first insurance company to be awarded 9001:2000 across all functions, processes and products and locations across India. Their main goal is to make affordable insurance accessible to all the citizens of India.

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2.1 GENERAL INTRODUCTION OF HDFC LIFE :

MAN WITH A MISSION

CHAPTE R 2

If ever there was a man with a mission it was Hasmukhbhai Parikh, Founder and

INTRODUCTION OF HDFC STANDARD LIFE Born in a traditional banking family in Surat, Gujurat, Mr. Parikh started his financial
career at Harkisandass Lukhmidass a leading stock broking firm. The firm closed down

Chairman-Emeritus of HDFC Group who left this earthly abode on November18, 1994.

in the late seventies, but, long before that, he went on to become a towering figure on the Indian financial scene. In 1956 he began his lifelong financial affair with the Economic

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world, as General Manager of the newly-formed Industrial Credit and Investment Corporation of India (ICICI). He rose to become Chairman and continued so till his retirement in 1972.At the ripe age of 60, Hasmukhbhai started his second dynamic life, even more Illustrious than his first. His vision for mortgage finance for housing gave birth to the Housing Development Finance Corporation It was a trend-setter for housing finance in the Whole Asian continent. He was also a writer in his own right. There are over 200 published articles by him...? In 1992, the Government of India honored him with the Padma Bhushan Award. London School of Economics & Political Science conferred on him an Honorary Fellowship. He was one of the Founder Members of the Centre for Advancement of Philanthropy, and its Chairman till 1993. He took active interest in the Bombay Community Public Trust, designed specifically to serve the needs of the citys underprivileged citizens. When Mr. Deepak Parikh took over as Chairman from Hasmukhbhai, he said: Taking over from H.T. Parikh is a formidable task; his vision brought about not Only an institution, but an entire concept which has proved itself to be of lasting Importance.

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ABOUT HDFC STANDARD LIFE INSURANCE

HDFC Standard Life Insurance Company Limited is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Limited), India's leading housing finance institution and a Group Company of the Standard Life Plc, UK. As on February 28, 2009 HDFC Ltd. holds 72.43% and Standard Life (Mauritius Holding) 2006, Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others. The company launched national operations in December 2001. Today, we have over 8000 employees across over 12 states in the country and a national footprint of distributors trained to provide quality financial advice and insurance solutions to the large Indian customer base.

As we further expand our presence across the country with a large network of distributors, we continue to provide innovative product and service offerings to cater to specific insurance and wealth management needs of customers. Whatever your plans in life, you can be confident that HDFC Standard life will offer the right financial solutions to help you achieve them.

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HDFC HOLDINGS

74% HDFC Standard Life 80.5% HDFC Ventures 60% HDFC Asset Mgt

HDFC

100% HDFC Properties 23.27% HDFC Bank

23.22% HDFC Developers

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2.2 HDFC STANDARD LIFE INSURANCE PARENTAGE

HDFC Limited.

HDFC is India leading housing finance institution and has helped build more than 23, 00,000 houses since its incorporation in 1977. In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The
depositor base now stands at around 1 million depositors.

Rated AAA by CRISIL and ICRA for the 10th consecutive year
Stable and experienced management High service standards

Awarded The Economic Times Corporate Citizen of the year Award for its
long-standing commitment to community development.

Presented the Dream Home award for the best housing finance provider in 2004
at the third Annual Outlook Money Awards.

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Standard Life Group (Standard Life plc and its subsidiaries)

Standard Life Group (Standard Life plc and its subsidiaries) The Standard Life group has been looking after the financial needs of customers for over 180 years It currently has a customer base of around 7 million people who rely on the company for their insurance, pension, investment, banking and health-care needs Its investment manager currently administers 125 billion in assets It is a leading pensions provider in the UK, and is rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006 at
the Money Marketing Awards, and it was voted a 5 star life and pensions provider at Star' the Financial Adviser Service Awards for the last 10 years running. The '5 accolade has also been awarded to Standard Life Investments for the last and to Standard Life Bank since its inception in 1998. Standard Life awarded the 'Best Flexible Mortgage Lender' at the Mortgage

10 years, Bank was

Magazine Awards in 2006

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OUR PARENTAGE

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2.3 Mission, Vision and Objectives :

MISSION

1) Financial Expertise
As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently.

2) Range of Solutions
We have a range of individual and group solutions, which can be easily customized to specific needs. Our group solutions have been designed to offer you complete flexibility combined with a low charging structure.

3) Track Record So Far Our gross premium income, for the year ending March 31, 2009 stood at Rs. 5,564.69 cores. As on March 31, 2009, the company has more than 27 lakh polices in force.

4) Strong promoter

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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.

5) Investment Philosophy
We follow a conservative investment management philosophy to ensure that our 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, we 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.

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OBJECTIVE Focus on the productivity of each consultant, corporate or individual, while stressing on the quality of proposals Quick roll out of Products Efficiency of Operations Meet Social & Rural sector obligations

OUR VISION

'The most successful and admired life insurance company, which means 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.

'The most obvious choice for all'.

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OUR VALUES

Values that we observe while we work:

Integrity Innovation Customer centric

People Care One for all and all for ones Teamwork Joy and Simplicity

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2.4 AREAS OF OPERATION

Helping Indians experience the joy of home ownership. The road to success is a tough and challenging journey in the dark where only obstacles light the path. However, success on a terrain like this is not without a solution. As we found out nearly three decades ago, in 1977, the solution for success is customer satisfaction. All you need is the courage to innovate, the skill to understand your clientele and the desire to give them your best. Today, nearly three million satisfied customers whose dream we helped

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realize, stand testimony to our success. Our objective, from the beginning, has been to enhance residential housing stock and promote home ownership. Now, our offerings range from hassle-free home loans and deposit products, to property related services and a training facility. We also offer specialized financial services to our customer base through partnerships with some of the best financial institutions worldwide.

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

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HDFC Mutual Fund has been one of the best performing mutual funds in the last few years. HDFC Asset Management Company Limited (AMC) functions as an Asset Management company for the HDFC mutual fund. AMC is a joint venture between housing finance giant HDFC and British investment firm Standard Life Investments Limited. It conducts the operations of the Mutual Fund and manages assets of the schemes, including the schemes launched from time to time. As of Aug 2006, the fund has assets of Rs.25,892 crores under management.

IN 2003, following a decision by the Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual Fund, to divest its asset management business in India, AMC had entered into an agreement with ZIC to acquire the asset management business. Here is a list of mutual funds of HDFC which includes Equity Funds, Balanced Funds and Debt Funds.

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HDFC Securities, a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec.com provides investors a robust platform to trade in Equities in NSE and BSE , and derivatives in NSE. Our research team tracks the economy, industries and companies to provide you the latest information and analysis. Our content offers financial information, analysis, investment guidance, news & views, and is designed to meet the requirements of everyone from a beginner to a savvy and well-informed trader.

HDFC Realty is a wholly owned subsidiary of HDFC. We have assisted individuals in acquiring homes valued at 5000 million rupees. HDFC is a pioneer housing finance

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institution in India and with over 30 years in operations has provided finance to over a million families in India. We are a team of real estate professionals facilitating Buying, Selling or Leasing of Residential / Commercial property. At HDFC Realty, we provide personalized attention to the individuals and corporate in their process of identifying properties. From understanding the requirement to organizing the site visits to completion of transaction, we make every effort to make the process of acquiring a property, hassle free and convenient.

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2.5 HISTORY
HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.) India and UK based Standard Life Company. Both the joint venture partners being one of the leaders in their respective areas came together in this 81.4:18.6 joint venture to form HDFC Standard Life insurance company limited.

The MD and CEO of HDFC Standard Life Mr. Deepak Satwalekar, has given the company new directions and has helped the company achieve the status it currently enjoys. HDFC Standard Life brings to you a whole range of insurance solutions be it group or individual or NAV services for corporations, they can be easily customized as per specific needs.

HDFC Standard Life Insurance India boasts of covering around 8.7 lac lives by March'2007. The gross incomes standing at a whopping Rs. 2, 856 crores, HDFC Standard Life Insurance Corporation is sure to become one of the leaders and the first preference for any life insurance customer.

The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC, HDFC

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Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda, Sarawat Bank and Bajaj Capital. The premium payment options available to the customers vary from online payment to direct desk payments at the HDFC Standard Life Branches, by courier services or in drop boxes provided. You can also pay by ECS or Automatic Debit System or credit cards or standing instruction mandate.

The lapsation and renewal policy of HDFC Standard Life are clearly defined on the official website. Online renewal forms are also available. For any change in personal details like the contact details or the nominee of the policy or policy benefits, online servicing is also available. Even the claim procedure has been simplified since affect of the loss life is irreparable and is thus fully understandable at HDFC Standard Life. A completely hassle-free process has been formulated to provide maximum convenience.

HDFC Standard Life first came together for a possible joint venture, to enter the Life Insurance market, in January 1995. It was clear from the outset that both companies shared similar values and beliefs and a strong relationship quickly formed. In October 1995 the companies signed a 3 year joint venture agreement.

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Around this time Standard Life purchased a 5% stake in HDFC, further strengthening the relationship.

The next three years were filled with uncertainty, due to changes in government and ongoing delays in getting the IRDA (Insurance Regulatory and Development authority) Act passed in parliament. Despite this both companies remained firmly committed to the venture.

In October 1998, the joint venture agreement was renewed and additional resource made available. Around this time Standard Life purchased 2% of Infrastructure Development Finance Company Ltd. (IDFC). Standard Life also started to use the services of the HDFC Treasury department to advise them upon their investments in India.

Towards the end of 1999, the opening of the market looked very promising and both companies agreed the time was right to move the operation to the next level. Therefore, in January 2000 an expert team from the UK joined a hand picked team from HDFC to form the core project team, based in Mumbai.

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Around this time Standard Life purchased a further 5% stake in HDFC and a 5% stake in HDFC Bank.

In a further development Standard Life agreed to participate in the Asset Management Company promoted by HDFC to enter the mutual fund market. The Mutual Fund was Launched on 20th July 2000. Incorporation of HDFC Standard Life Insurance Company Limited: The company was incorporated on 14th August 2000 under the name of HDFC Standard life insurance company limited.

Their ambition from the beginning was to be the first private company to re-enter the life insurance market in India. On the 23rd of October 2000, this ambition was realized when HDFC Standard Life was the first life company to be granted a certificate of registration.

HDFC are the main shareholders in HDFC Standard Life, with 81.4%, while Standard Life owns 18.6%. Given Standard Life's existing investment in the HDFC Group, this is the maximum investment allowed under current regulations.

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HDFC and Standard Life have a long and close relationship built upon shared values and trust. The ambition of HDFC Standard Life is to mirror the success of the parent companies and be the yardstick by which all other insurance companies in India are measured.

HDFC Standard Life Insurance Company Limited is one of India's leading private life insurance companies offering a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd), India's leading housing finance institution and Standard Life plc, the leading providers of financial services in the United Kingdom.

HDFC Ltd. as on December 31, 2007 holds 72.38 per cent of equity in the joint venture. HDFC Standard Life's Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, and Investment. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 21 retail and 6 group products in its portfolio.

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HDFC Standard Life maintains very high professional standards during product offerings by providing sound financial advice, efficient post-sale service, and immaculate financial security. Ongoing training for conventional products, and specialized training, for unitlinked products, for its financial consultants, has also helped its customers choose the product, best suited for their needs.

HDFC Standard Life operates across more than 726 cities and towns of the country supported by its strong network of more than 1,45,000 Financial Consultants. HDFC Standard Life also has more than 383 corporate agents and other sales intermediaries including banks for distribution of insurance products.

2.6 ACHIEVEMENTS

Awards and Accolades

2011

HDFC is the only Indian company to be included in the fifth annual list of the 2011 Worlds most ethical companies by Ethisphere Institute, USA.

2010

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Best Governed Company Award, 2010 Asian Centre for Corporate governance & Sustainability. - India Shining Star CSR Award for outstanding CSR in the Banking and Financial Sector.

2009

- HDFC one of Indias Best Managed Companies Finance Asias 10th Annual Poll.

- HDFC the most admired company in the Financial Sector in India Wall Street Journals Asia 200 survey.

March, 2008

Received PC Quest Best IT Implementation Award 2008 HDFC Standard Life 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,

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licensing, etc. Read more about the Consultant Corner tool in the HDFC SL in news section. HDFC Standard Life has won the PC Quest Best IT Implementation Award for two years consequently. Last year, the company received the award for Wonders, its path-breaking implementation of an enterprise-wide workflow system.

May, 2008

Silver Abby at Goa fest 2008 HDFC Standard Life's radio spot for Pension Plans won a Silver Abby in the radio writing craft category at the Goa fest 2008 organized by the Advertising Agencies Association of India (AAAI). The radio commercial Pata nahin chala touched several changes in life in the blink of an eye through an old mans perspective. The objective was drive awareness and ask people to invest in a pension plan to live life to the fullest even after retirement, without compromising on ones self-respect.

Laadli Media Award 2007

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HDFC Standard Life received Laadli Media Award 2007 for its 'Big car' TV commercial. It showed how a daughter wants to be more responsible towards her family and asks her dad to upgrade to a bigger car by offering him the extra money required to buy the car.

HDFC Standard Life received this award for two years consecutively. In 2006, it won for the 'Papa' TV commercial, which challenged the stereotype parents saving only for their son's education or daughter's wedding. The company took a bold step by showing parents saving for their daughter's education abroad, demonstrating progressive thinking. Laadli Media Awards, instituted in 2007, by Population First, an NGO working on women's rights and social development, is given to professionals in print and electronic media and ad makers for gender sensitive news reports, articles, print, TV ads, and films.

QUIMPRO GOLD STANDARD AWARD, 2007 Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007 Mr. Deepak M Satwalekar, Managing Director and CEO, HDFC Standard Life, received the QIMPRO Gold Standard Award 2007 in the business category at the 18th annual Qimpro Awards function. The award celebrates excellence in individual performance and highlights the quality achievements of extraordinary individuals in an era of global competition and expectations.

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2.7 Organizational Structure :

HDFC Standard Life Insurance-Organization structure

Span Of Control Regional Manager Territory manager Branch Sales Manager Area sales manager/Business Development Manager/Sales Development Manager

~ 54 ~

2.8 Companys Products & Services : Meaning and Definition of Life Insurance
Life insurance covers the risk that exists in ones life. These risks may arise due to accident, illness or natural causes like fire, flood, earthquake etc. Life insurance aims to protect the family of the life insured so that they may not suffer from financial consequences on the death or disability of the insured person. Life insurance needs to be a mandatory part of every persons life. Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against. Life insurance is a very popular form of insurance. It ensures the life of an individual and gives financial protection to the members of the family of the policyholder. It is different from other types of insurance in various ways. It not only gives protection but it is a method of compulsory saving. This insurance provides protection to the family at the premature death or gives adequate amount at the old age when the earning capacities are reduced. The contract is valid for payment of the insured amount during: The date of maturity, or Specified dates at periodic intervals, or Unfortunate death, if it occurs earlier.

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Life insurance covers the risk that exists in ones life. These risks may arise due to accident, illness or natural causes like fire, flood, earthquake etc. Life insurance aims to protect the family of the life insured so that they may not suffer from financial consequences on the death or disability of the insured person. Life insurance needs to be a mandatory part of every persons life. Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.

Life insurance is a very popular form of insurance. It ensures the life of an individual and gives financial protection to the members of the family of the policyholder.

Definition
Life Insurance may be defined as a type of Insurance Contract whereby the insurer, in consideration of the premium paid in periodical installments undertakes to pay an annuity or a certain sum of money either on the death of the insured or on the expiry of a certain number of years. Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as

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terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.

Features of Life Insurance Contract:

(1) Nature of General Contract

Since life insurance contract is a sort of contract it is governed by the Indian Contract Act. According to Section 10 of Indian Contract Act, 1872 a valid contract must have the following essentialities: (a) Offer and acceptance. (b) Legal considerations. (c) Competent to make contract. (d) Free consent. (e) Legal object.

(2) Insurable Interest ~ 57 ~

The insured must have an insurable interest in the life to be insured for a valid contract. Insurable Interest in life insurance may be divided into two categories: (a) Insurable interest in own life, and (b) Insurable Interest in others life. The latter can be sub-divided into two classes: Where proof is not required, and

Where proof is required. Again this insurable interest can be divided into two classes insurable interest arising due to business relationship, and
Insurable interest in family relation.

(3) Utmost Good Faith

The life insurance requires that the principle of utmost good faith should be preserved by both the parties. The principle of utmost good faith says that both the parties, proposer (insured) and insurer must be of the same mind at the time of contract because only then the risk may be correctly ascertained. They must make full and true disclosure of the facts material to risk.

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(4) Warranties

Warranties are integral part of contract. i.e. they form the bases of the contract between the proposer and the insurer and if any statement whether material or non material, is untrue the contract shall be null and void and the premium paid by him may be forfeited by the insurer.

(5) Proximate Cause

The efficient or effective cause that causes loss is called PROXIMATE CAUSE. It is the real and actual cause of loss. If the cause of loss is insured, the insurer will pay. In LIFE INSURANCE the doctrine of CAUSA PROXIMA is not applied because the insurer is bound to pay the amount of insurance whatever may be the reason of death. It may be natural or unnatural. Hence this principle is not of much practical importance with life insurance.

(6) Assignment and Nomination

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Life insurance policy can be assigned freely for a legal consideration or love and affection. Notice of assignment must be given to the insurer who will acknowledge the assignment. The holder of life insurance policy on his own may either at the time of affecting the policy or at any subsequent time before the policy matures; nominate person or persons to whom the money secured by the policy shall be paid in event of his death. Nomination can be cancelled before the maturity, but a notice should be served to this effect.

(7) Return of Premium

In the ordinary course premium once paid cannot be refunded. But in the following cases the premium paid are returnable. On account of misrepresentation or breach of warranty, the insured, in the absence of any express condition to the contrary, can claim the return of premium paid. But where the insured is guilty of fraud in obtaining a policy, he will fail in his claim to the sum assured.

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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA):Reforms in the Insurance sector were initiated with the passes of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously such to its schedule of framing regulations and registering the private sector insurance companies.

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The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDA online service for issue and renewal of licenses to agents.

Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of IRDA

(1) Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business.

(2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include, (a) issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration; (b) protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance; (c) Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents; (d) Specifying the code of conduct for surveyors and loss assessors; (e) Promoting efficiency in the conduct of insurance business;

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(f) Promoting and regulating professional organizations connected with the insurance and re-insurance business; (g) Levying fees and other charges for carrying out the purposes of this Act; (h) calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organizations connected with the insurance business; (i) control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938); (j) Specifying the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by insurers and other insurance intermediaries; (k) Regulating investment of funds by insurance companies; (l) Regulating maintenance of margin of solvency; (m) Adjudication of disputes between insurers and intermediaries or insurance intermediaries; (n) Supervising the functioning of the Tariff Advisory Committee; (o) Specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organizations referred to in clause (p) Specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector; and

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(q) Exercising such other powers as may be prescribed.

TYPES OF LIFE INSURANCE PLAN ~ 64 ~

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

~ 65 ~

demise at an early age of 42 years, the loss of income to his family would be nearly Rs. 5,00,000/- per annum.

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.

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1.

HDFC Term Assurance Plan:

This plan is designed to help secure your familys financial needs in case of uncertainties. The plan does this by providing a lump sum to the family of the life assured in case of death or critical illness (if option is chosen) of the life assured during the term of the contract. One can choose the lump sum that would replace the income lost to ones family in the unfortunate event of ones death. This helps your family to maintain their financial independence, even when you are not around.

Features

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2.

HDFC Loan Cover Term Assurance Plan:

This plan aims to protect your family from your loan liabilities in case of your unfortunate demise within the policy term. It provides the beneficiary with a lump sum amount, which is a decreasing percentage of the initial Sum Assured. This means that as the outstanding loan decreases as per the loan schedule, the cover under the policy also decreases as per the policy schedule.

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Features

~ 69 ~

3.

HDFC Home Loan Protection Plan:

This plan aims to protect your family from your loan liabilities in case of your unfortunate demise within the policy term. It ensures that your family does not lose the dream house that you have purchased for them, in case you are not around to repay the outstanding monthly installments on your housing loan. This provides you with the comfort of knowing that in your absence, a sum of money will be available towards repaying your housing loan, making sure that your family will be secure in your family home.

Features

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1.

HDFC Childrens Plan:

As a parent, your priority is your childs future and being able to meet your childs dreams and aspirations. With our HDFC Childrens Plan, you can start building your savings today and ensure a bright future for your child. This With Profits plan is

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designed to secure your childs future by giving your child (Beneficiary) a guaranteed lump sum on maturity or in case of your unfortunate demise, early into the policy term.

Features

2. HDFC Young Star Super:

As a parent, your priority is to meet your childrens future and being able to meet your childs dreams and aspirations. With our HDFC Young Star Super, you can start building your savings today and ensure a bright future for your child. This Plan provides valuable protection to your child in case you are not around and gives you an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of

~ 72 ~

thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

Features

3. HDFC Young Star Super Suvidha:

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As a parent, your priority is your childs future and being able to meet your childs dreams and aspirations. With our HDFC Young Star Super Suvidha, you can start building your savings today and ensure a bright future for your child. It is a convenient plan, which saves you from the need of going for Medicals. This Unit Linked Plan provides valuable protection to your child in case you are not around and gives you with an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

Features

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4. HDFC Young Star Supreme Suvidha:

There is no bigger joy than being able to fulfill your child's dream. With HDFC Young Star Supreme Suvidha you can fulfill your childs immediate and future needs. So tomorrow when you child needs your support you dont have to depend on anyone else. This Plan provides valuable protection to your child in case you are not around and gives you an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

Features

~ 75 ~

5. HDFC SL Young Star Champion Suvidha:

There is no bigger joy than being able to fulfill your child's dream; that too on your own. With HDFC SL Young Star Champion Suvidha you can fulfill your childs immediate and future needs. So tomorrow when you child needs your support you dont have to depend on anyone else. This is a convenient plan, which saves you from the need of going for Medicals. This Unit Linked Plan gives you with an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

Features ~ 76 ~

HDFC Personal Pension Plan

~ 77 ~

Today, you are busy climbing the ladder of success and realizing your dreams. Today, time is with you. Just take a moment and think. Will you be able to continue at the same pace? Will your income be the same forever? Will you be able to live life on your own terms even after you retire? The HDFC Personal Pension Plan is a With Profits insurance policy that is designed to provide a post-retirement income for life with the freedom to choose your retirement date.

Features

1. HDFC Pension Super

Today, you are busy climbing the ladder of success and realizing your dreams. Today, time is with you. Just take a moment and think. Will your income be the same forever? Will you be able to live life on your own terms even after you retire? The HDFC Pension

~ 78 ~

Super is Unit Linked plan, designed to provide a post-retirement income for life with the freedom to choose your retirement date. This plan gives you with an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at vesting.

Features

2. HDFC SL Pension Champion

~ 79 ~

Today, you are busy climbing the ladder of success and realizing your dreams. Today, time is with you. Just take a moment and think. Will your income be the same forever? Will you be able to live life on your own terms even after you retire? The HDFC SL Pension Champion is Unit Linked plan, designed to provide a post-retirement income for life with the freedom to choose your retirement date. This plan gives you with an outstanding investment opportunity to HDFC minimize your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at vesting.

Features

~ 80 ~

3. HDFC SL Unit Linked Pension minimizer II Ideally, just how spending comes to you, so must saving and investing. You are able to finance your expenses and take care of your expenses in present times. However, to ensure that you are able to maintain the same Standard of living post retirement, you need to make the right kind of investment today. HDFC SL Unit Linked Pension HDFC minimizer II is a unique Single Premium unit linked plan, designed to provide a postretirement income for life with the freedom to HDFC minimize your investment returns. This plan also gives Bumper Addition* of 5% of initial single premium at vesting.

Features

~ 81 ~

a. HDFC Endowment Super

~ 82 ~

You have always given your family the very best. And there is no reason why they should not get the best in future too. With rising costs, ensuring the best got your family will need some financial planning. With our HDFC Endowment Super, you can start building your savings today and ensure that your family remains financially independent, even when you are not around. This Unit Linked Plan also gives you with an outstanding investment opportunity to HDFC imise your savings by providing you a choice of thoroughly researched and selected investments.

Features

b.

HDFC SIMPLY LIFE

You have always believed in living life on your own terms. So why let the changing realities of everyday life overwhelm you and make your aspirations take a back seat?

~ 83 ~

With our HDFC Simply Life Plan, you can plan now to HDFC maximize your savings and secure your and your familys future. It is a convenient plan, which saves you from the need of going for Medicals. This Unit Linked Plan gives you with an outstanding investment opportunity to HDFC maximize your savings by providing you a choice of thoroughly researched and selected investments.

Features

c. HDFC Wealth Builder ~ 84 ~

HDFC Wealth Builder is an exclusive plan crafted for elite achievers like you. An investment cum insurance plan that will actively help in building your wealth and give you twin advantage of exclusive funds (actively managed for you) along with choice of limited premium payment term. This plan provides the financial protection to your loved ones and builds up your wealth effortlessly. This plan also gives Bumper Addition to the fund value at Maturity.

Features

~ 85 ~

d. HDFC Money Back Plan ~ 86 ~

You have always believed in living life on your own terms. So why let the changing realities of everyday life overwhelm you and make your aspirations take a back seat? With our HDFC Money Back Plan, you can plan now to ensure that you have the necessary funds to have the necessary funds to secure your long-term as well as shortterm financial goals. This With Profits plan gives you a proportion of the basis Sum Assured as Cash lump sums at regular 5-year intervals within the policy term.

Features

~ 87 ~

1. HDFC Critical Care Plan

Critical Illness can strike anyone. Today with advancement in medical science it is possible to survive a critical illness. Expenses on survival with a critical illness can be very high. HDFC Critical care plan provides for a lump sum payment on survival post diagnosis of a critical illness, so that in the event a critical illness strikes, you dont have to dig into those precious savings of yours.

~ 88 ~

Features

2.

HDFC Surgery Care Plan

In the fast paced lives that we lead, medical contingencies may arrive at our doorstep uninvited. Surgery costs form a substantial portion of health care expenditure and needs to be provided for. Health issues can get compounded if left unattended and may require a surgery. Plus, the ever increasing costs of surgical procedures are sure to burn a hole in our pockets. HDFC Surgery Care Plan provides you with timely support in case you have to undergo a major surgery and hospitalization, as the case maybe, ensuring your financial independence at all times.

~ 89 ~

Features

2.9 FINANCIAL ANALYSIS (PAST 5 YEARS) :

ANALYSIS OF FINANCIAL STATEMENT

Financial statement analysis is a comprehensive analysis of all three financial statements: balance sheet, income statement, and cash flow statement. Financial statements provide useful information. However, one has to meticulously look for the right information from the right data. One can undertake the financial statement analysis from different

~ 90 ~

stakeholders

perspective:

creditors,

bankers,

credit

rating

agencies,

existing

shareholders, potential shareholders, internal management, and employees too. Financial statement helps in understanding the performance of the organization. The performance of an organization can be explained on the basis of the four important aspects of the business:
a) Liquidity: Liquidity shows the ability of the business to service the short term

obligation.
b) Solvency: Solvency shows the ability of the business to meet the long term

obligation.
c) Efficiency: Efficiency shows the ability of the business to use the resources of the

business.
d) Profitability: Profitability shows the ability to the business to generate and distribute

profit.

FINANCIAL RATIOS :
A financial ratio (or accounting ratio) is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization. Financial ratios may be used by managers within a

~ 91 ~

firm, by current and potential shareholders (owners) of a firm, and by a firm's creditors. Security analysts use financial ratios to compare the strengths and weaknesses in various companies. If shares in a company are traded in a financial market, the market price of the shares is used in certain financial ratios. Ratios can be expressed as a decimal value, such as 0.10, or given as an equivalent percent value, such as 10%. Some ratios are usually quoted as percentages, especially ratios that are usually or always less than 1, such as earnings yield, while others are usually quoted as decimal numbers, especially ratios that are usually more than 1, such as P/E ratio; these latter are also called multiples. Given any ratio, one can take its reciprocal; if the ratio was above 1, the reciprocal will be below 1, and conversely. The reciprocal expresses the same information, but may be more understandable: for instance, the earnings yield can be compared with bond yields, while the P/E ratio cannot be: for example, a P/E ratio of 20 corresponds to an earnings yield of 5%.

Sources of data for financial ratios

Values used in calculating financial ratios are taken from the balance sheet, income statement, statement of cash flows or (sometimes) the statement of retained earnings. These comprise the firm's "accounting statements" or financial statements. The

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statements' data is based on the accounting method and accounting standards used by the organization.

~ 93 ~

CHAPTE 3

METHODOLOGY AND PROCEDURE

~ 94 ~

3.1 Introduction to Research Methodology

Marketing research means the systematic gathering, recording, analyzing of data about problems relating to the marketing of goods and services Marketing research has proved an essential tool to make all the need of marketing management. Marketing research therefore is the scientific process of gathering and analyzing of marketing information to meet the needs of marketing management. But gathering of observation is must be systematic. The systematic conduct of research requires: Orderliness, in which the measurements are accurate. Impartiality in analysis and interpretation. All of research can be categorized into basic and applied.

Research Design: Research Design aids the researcher in the allocation of limited resources by posing crucial choices in methodology. Research Design is the plan and structure of investigation so conceived as to obtain answer to research questions. The plan is the overall scheme or program of research. It includes an outline of what the investigator will do from writing hypothesis and their operational implications to the final analysis of data.

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 Research design expresses both the structure of the research-problem- the framework, organization, a configuration of the relationships among variables of a study and the plan of investigation used to obtain empirical evidence on those relationships. It is an activity and time based plan. A plan always based on the research questions. A guide for selecting sources and types of information. A framework for specifying the relationships among the studys variables. A procedural outline for every research activity.

RESEARCH DESIGN

The research was designed in this study through the market mapping of the insurance sector. The objective of the research is to enhance the performance of the insurance companies by the analysis of various parameters and various factors.

~ 96 ~

The problem in the research is the complicated profile structure of the insurance companies and the various company policies. This problem can affect the performance of the various insurance firms. The solution for this problem can be taken with the help of the market mapping which can enhance the performance of the firms.

Research Plan: To develop the research plan a surveyor has to make the simple and the convenient strategy for filling the questionnaire and gathering the data through the convenience of the interviewee. The research plan should be more efficient so that is does not cost the company. The Primary Data has been collected from the people residing in the city Meerut with help of the questionnaire.

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3.2 Research Method Used

1.

BASIC RESEARCH

: - Basic Research is that intended to expand the body of

knowledge for the use of others.

2. APPLIED RESEARCH: - Applied Research is one, which is carried out to find

the solution for a particular problem or for guiding a specific decision. It is usually private in nature. My research on HDFC Life is carried on for guiding specific decisions and its results are useful only to the company for taking particular decision. Hence the nature of my research study is APPLIED RESEARCH.

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3.3 Population and Sample

Sample size: A sample size of hundred was taken in order to carry the study. The sample size shows that how many people should surveyed. Here I have collected the sample of the 100 people across the city. Who is to be surveyed that is the sampling unit. Here I have to decide the target population to be sampled. So here I have taken the sample of the different people who are getting the services from HDFC Life. Sample unit: For this survey the target population consisted of people residing in various localities of Meerut between the age group 25-70 who have taken various policies. Instrument of data collection is questionnaire. Sampling technique: A simple random technique was adopted to select the representative sample from the sampling unit.

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1.4

Tools used for data collection:

Data for this study is collected from both primary and secondary data. The primary data is collected through a structured questionnaire which was prepared to interview the respondents. The secondary data was collected through discussion with officials of the company to get general information; data was also collected from newspapers, books, magazines, company records and internet etc The data is collected from both primary and secondary sources and also been tabulated in the form of tables and drawn in to graphs depicting the various finding significantly. The data collected through questionnaire are analyzed in detail and divided in to various categories of preferences and conclusion are drawn on the possible changes are causes for brand preference and market share is given based on the research study.

~ 100 ~

~ 101 ~

3.5 METHODS OF DATA COLLECTION Primary Method

Primary data are those which are collected fresh and for the first time and thus happen to be original in character. It is always advised to use primary data whenever possible. They are also known as first handed data. Following are the methods of collecting Primary Data:

(1) Interview (2) Telephone Interview (3) Mail Survey (4) Questionnaire Questionnaire is a set of questions to find out the data about the Insurance Companys performance, which is circulated among the people or customers of the same Company. The customers may regard to different branches. The customer or people based on their personal experience give answers to the sets of questions presented to them on the basis of which we find out the status of the company.

~ 102 ~

I have considered 100 samples to get a feedback that how many customers have taken which kind of policies which I have mentioned in Finding.

Secondary Data

Secondary data means data that are already available. i.e. they refer to data which have already been collected and analyzed by someone else. Such information has not been gathered afresh specifically for any research project. (1) Books (2) Newspaper (3) Websites (4) Magzines

~ 103 ~

~ 104 ~

~ 105 ~

Intra firm comparison of HDFC Life Analysis of Short Term Liquidity:

a. Current ratio = Total Current Assets / Total Current Liabilities b. Quick ratio = quick current assets / quick current liabilities

1) Table showing: Current Ratio of HDFC standard life Insurance Company Ltd.

for the year 2006 - 2010.

CHAPTE
2007

YEARS

2010 (Rs.000)

2009 (Rs.000)

2008

2006

(Rs.000) (Rs.000) (Rs.000)

Current Assets

9,643,629

8,575,727

5,325,536

3,869,728

1,143,024

Current Liabilities

ANALYSIS AND 9,029,038 6,251,168 3,905,497 2,687,296 INTERPRETATION

1,090,355

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Current Ratio 1.07% 1.37% 1.36% 1.44% 1.05%

Inference:
The above table is showing the details regarding the current ratio of HDFC Standard Life insurance company ltd. The standard current ratio is 2:1, but the company has got only 1.07 for the year the ratio is not satisfactory.

GRAPH SHOWING THE CURRENT RATIOS OF HDFC LIFE INSURANCE COMPANY LTD. FROM THE YEAR 2006- 2010. Figure 1

P E R C E N T A G E

YEARS

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2) TABLE

SHOWING

THE

QUICK

RATIOS

OF

HDFC

STANDARD LIFE INSURANCE COMPANY LTD.:-

YEARS

2010 (Rs.000)

2009 (Rs.000)

2008 (Rs.000)

2007 (Rs.000)

2006 (Rs.000)

Liquid Assets 9,643,629 8,575,727 5,325,536 3,869,728 1,143,024

Liquid liabilities

9,029,038

6,251,168

3,905,497

2,687,296

1,090,355

Acid test ratio 1.07% 1.37% 1.36% 1.44% 1.05%

~ 108 ~

Inference:
The above table is showing the details regarding the current ratio of HDFC Standard Life insurance company ltd. The standard liquid ratio is 1:1, and the company has got 1.07 for the year the ratio is satisfactory

GRAPH SHOWING THE QUICK RATIOS OF HDFC LIFE INSURANCE COMPANY LTD. FROM THE YEAR 2006- 2010. Figure 2

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Profitability Ratios: P E R C E N T A G E

a. Gross profit ratio = Gross Profit / Sales*100

1) Table showing: the gross profit ratio of HDFC Standard Life Insurance Company

Ltd.

YEARS

2010 (Rs. 000)

2009 (Rs. 000)

2,435,094

2008

2007

2006 (Rs. 000)

8,97,348

(Rs.000) (Rs. 000)

1,255,611 1,287,572

Gross Profit

5,029,631

YEARS
Sales 55,183,763 48,176,166 31,390,275 16,094,650 6,902,677

Gross Profit Ratio

-0.09%

-0.05%

-0.04%

-0.08%

-0.13%

~ 110 ~

The Gross Profit ratios of HDFC Standard Life Insurance company.ltd from the year 2006-2010. Figure 3

YEARS

P E R C E N T A G E
2)

Table showing Net Profit ratio of HDFC standard life from the year 2006 to 2010

~ 111 ~

Year

2010 (RS.000)
(11,913

2009 (RS.000)
(6,883,4 91) 48,176,166 -0.14%

2008 (RS.000)
(4,421, 364) 28,226,248 -0.16%

2007 (RS.000)
(3,165, 753) 15,469,501 -0.20%

2006 (RS.000)
(1,878, 181) 6,866,346 -0.27%

Net profit Sales Net profit ratio

,122) 55,183,763 -0.22%

~ 112 ~

The Net Profit ratios of HDFC Standard Life Insurance company.ltd from the year 2006-2010. Figure 4

YEARS

P E R C E N T A G E

~ 113 ~

3)

The Debt Equity ratios of HDFC Standard Life Insurance Company Ltd. from the year 2006 to 2010.

Years

2010 (RS.000)

2009 (RS.000)

2008 (RS.000)

2007 (RS.000)

2006 (RS.000)

Outsiders Funds

97,578,470

84,012,076

45,999,541

23,633,655

8,470,669

Share Holders Fund Debt Equity Ratio 5.29% 6.33% 5.50% 3.73% 2.65% 18,433,462 13,263,132 8,360,441 6,331,725 3,194,450

~ 114 ~

The Debt Equity ratios of HDFC Life Insurance company.ltd from the year 2006-2010.

Figure 5

P E R C E N T A G E

YEARS

~ 115 ~

Balance sheet of HDFC STANDARD LIFE INSURANCE COMPANY LTD. as at March 31 for five years.

Particulars SOURCES FUNDS

SHAREHOLDERS FUNDS: Share Capital Share money application received -

2010 (Rs.000) OF

2009 (Rs.000)

2008

2007

2006

(Rs.000) (Rs.000) (Rs.000)

17,958,180

12,706,359

8,007,148

6,192,718

3,190,898

287,391

pending allotment of shares Reserve and Surplus Credit / [Debit] Fair Value Account Change

552,892

552,892

65,902

65,902

(77,610)

3,881

73,105

3,552

~ 116 ~

Sub-Total BORROWINGS
POLICYHOLDERS FUNDS:

18,433,462 -

13,263,132 -

8,360,441 -

6,331,725 -

3,194,450 -

Credit / [Debit] Fair (296,885) Value Account Policy Liabilities Insurance Reserves Provision for Linked liabilities Add: Fair value (15,302,147) Change 29,092,419 84,085,083

193,745

91,247

209,569

174,980

24,366,747 56,317,976

17,391,531 25,934,264

11,487,996 6,377,397 9,732,781 1,918,292

3,133,608

2,582,499

2,203,309

change Total Provision for 68,782,936 Linked Liabilities Sub-Total 97,578,470 Funds for Future 586,395 Appropriations Funds for future 531,970

59,451,584 84,012,076 -

28,516,763 45,999,541 -

11,936,090 23,633,655 8,470,669 -

246,951

59,485

25,516

appropriation Provision for lapsed policies unlikely to be -

~ 117 ~

revived Surplus Allocated to Shareholders

TOTAL APPLICATION FUNDS: INVESTMENTS Shareholders Policyholders

117,130,297 OF

97,522,159

54,419,467

29,990,896 11,665,119

4,291,597 30,050,097

4,213,064 23,299,043 59,451,584 18,618 1,331,800

1,529,743 17,782,866 28,516,763 12,638 736,054

1,380,910

984,253

11,695,010 6,087,916 11,936,090 1,918,292 29,356 601,345 11,984 731,824

Assets held to cover 68,782,936 Linked Liabilities LOANS FIXED ASSETS CURRENT ASSETS Cash balances Advances and Other Assets Sub-total (A) 9,643,629 and bank 5,534,969 4,108,660 30,248 1,447,706

4,493,238

3,363,556

2,879,622

733,529

4,082,489

1,961,980

990,106

409,495

8,575,727

5,325,536

3,869,728

1,143,024

~ 118 ~

CURRENT LIABILITIES PROVISIONS

8,820,225

6,129,149

3,874,652

2,658,567

1,069,635

208,813

122,019 6,251,168 2,324,559 -

30,845 3,905,497 1,420,039 -

28,729 2,687,296 1,182,432 -

20,720 1,090,355 52,669 -

Sub-Total (B) 9,029,038 NET CURRENT ASSETS (C) = 614,591 -

(A - B) MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) DEBIT IN BALANCE AND

11,913,122

6,883,491

4,421,364

3,165,753

1,878,181

PROFIT

LOSS

ACCOUNT

(Shareholders account) TOTAL CONTINGENT LIABILITIES 1. Partly paid-up 117,130,297 97,522,159 54,419,467 29,990,896 11,665,119

investments 2. Claims, other than against policies, not -

~ 119 ~

acknowledged

as -

debts by the company

3.

Underwriting (in 262,091 1,465,718 309,494 119,829 -

commitments outstanding

respect of share and securities) 4. Guarantees given by or on behalf of the Company -

5.

Statutory -

demands / liabilities in dispute, not

provided for 6.Reinsurance obligations to the -

extent not provided for in the accounts

~ 120 ~

Total

1,465,718

262,091

309,494

119,829

Profit & Loss Account for year ended March 31, from 2006 to 2010 Shareholders Account (Non-technical Account)
2010 2009 (RS.000) 516,341 2008 (RS.000) 2007 (RS.000) 2006 (RS.000) -

Particulars
the Policyholders Account (Technical Account) Income from Investments (a) Interest, Dividends & Rent - Gross (b) Profit on sale /

(RS.000)

Amounts transferred from 794,984

302,367

242,109

126,836

138,496

65,321

redemption investments

of 13,924

98,694

114,192

7,989

10,117

~ 121 ~

(c) (Loss

on

sale

/ (35,870) of

(11,142)

(12,470)

(6,933)

(4,043)

redemption investments)

(d) Transfer / gain on 51,887 revaluation / change in fair value (e) Amortization of (2,965)

(21,384)

(23,909)

(6,594)

561

(2,375)

(8,926)

(5,156)

(premium)/discount on investments Sub Total 329,343 Other Income 300 TOTAL (A) 1,124,627 Expenses other than those 5,307 directly related to the 308,838 531 825,710 12,596 202,274 764 203,038 8,252 124,032 3,650 127,682 18,251 66,239 1587 67,826 10,490

insurance business Bad debts written off

Provisions taxation)

(other

than -

(a) For diminution in the value of -

Investments (net)

~ 122 ~

(b) Provision doubtful debts (c) Others

for 6,148,951

3,248,208

1,450,397

1,397,003

954,744

Contribution

to

the 6,154,258 (5,029,631) (5,029,631) the (6,883,491) the (27,033) 3,260,804 1,458,649 1,415,254 965,234

Policyholders Fund TOTAL (B) Profit / (Loss) before tax Provision for Taxation Profit / (Loss) after tax APPROPRIATIONS (a) Balance beginning Year (b) Interim paid Year (c) Proposed dividend (d) Dividend distribution tax (e) Transfer liabilities account to on of dividends during at of

(2,435,094) (1,255,611) (1,287,572) (897,348) (2,435,094) (1,255,611) (1,287,572) (897,348) (4,421,364) (3,165,753) (1,878,181) (980,833)

the final -

Employee benefits

~ 123 ~

Profit / (Loss) carried forward to the Balance (11,913,122) Sheet Earnings per share - Basic Earnings Diluted per share (3.28) - (3.28) (6,883,491) (4,421,364) (3,165,753) (1,878,181) (2.42) (2.42) (1.83) (1.81) (2.92) (2.92) (3.38) (3.38)

CHAPTE R
~ 124 ~

~ 125 ~

5.1 FINDINGS:
1. As per survey 35% of sample are having HDFC STANDARD Life Insurance

FINDINGS AND Company Term Policy , 30% are having Pension Plan , 25% are having RECOMMENDATIONS
Company Ltd.

Childrens Policy and 10% has UILP Plan of HDFC STANDARD Life Insurance

Table showing no. of persons having different plans

PLANS
TERM POLICY PENSION POLICY CHILDREN POLICY ULIP PLANS

NO.OF PERSONS 35 30 25 10

Figure 6 FINDINGS AND RECOMMENDATIONS

2. As per survey 20% of sample are taking HDFC STANDARD Life Insurance

Company for Tax Saving and Investment , 30% are taking Retirement and

~ 126 ~

pension , 30% are taking Childrens Education &Future Plan and 20% are taking Insurance for Family Life Security.

Table showing the purpose for which investments are being made

PURPOSE
TAX SAVING & INVESTMENT PETIREMENT PENSION CHILDRENS EDUCATION & FUTURE PLANS FAMILY LIFE SECURITY

NO.OF PERSONS 20 30 30 20

Figure 7

3. As per survey 40% of sample prefers to have Mediclaim for their family, 15% sample prefers to have Life Plan for their family, 30% sample prefers to have Whole Life Plan for their family and 15% sample prefers to the Pension plan.

Table showing the no. of persons opting for different plans for their families

PLANS

NO.OF PERSONS

~ 127 ~

MEDICLAIM LIFE PLAN WHOLE LIFE PLAN PENSION PLAN

40 15 30 15

Figure 8

4. As per survey 30% of sample prefers to pay their premium through Cash, 40% sample prefers to pay their premium through Cheque, 15% sample prefers to pay their premium through Online and 15% sample prefers to pay their premium through ECS.

Table showing the mode of payment choosen by the respondandts for payment of their premium.

MODE OF PAYMENT
CASH CHEQUE ONLINE ECS

NO. OF PERSONS 30 40 15 15

~ 128 ~

Figure 9

5. As per survey 45% of samples prefer to pay their premium through monthly, 40%

of sample prefers to pay their premium through quarterly premium, and 15% of sample prefers to pay their premium through half-yearly premium.

Table showing the time for payment of the premium

TIME OF PAYMENT
MONTHLY QUARTERLY HALF- YEARLY

NO. OF PERSONS
45 40 15

Figure 10

6. As per survey 40% of sample prefers to invest their money in growth Fund, 30% of sample prefers to invest their money in balance Fund and 30% sample prefers to invest their money in Traditional Fund.

~ 129 ~

Table showing the preference of various persons for investment of their money

INVESTMENT
GROWTH FUND BALANCE FUND TRADITIONAL FUND

NO. OF PERSONS
40 30 30

Figure 11

7. As per survey 80% sample are satisfied with HDFC STANDARD Life Insurance Company Ltd.

Figure 12

~ 130 ~

5.2 SUGGESTIONS:

a. HDFC Life Insurance Ltd. can try to create awareness about the company through

some programmes.

b. There may be proper and immediate response in case of any queries from customers.

c. The company can concentrate to increase its sales revenue as finance is life blood of

any business.

d. HDFC Life is able try to increase its profits through using better portfolios.

e. There can be an outstanding after sales service which is one of the important factors.

~ 131 ~

f. There may be more effective response in case of any incidents/events.

g. Feedback information can be inculcated.

h. The company is able to concentrate on decreasing other expenses and it has to spend

the expenses which are really required to the development of the company.

i.

Proper management is to be there and also it should supervise the activities of the company very well.

5.3 CONCLUSION:

HDFC Standard Life Insurance is one of Indias fastest growing life insurance companies. HDFC Standard India is joint venture between Dabur and HDFC Standard Group whos Association with India is form 1834.HDFC Standard vision is to be amongst India leading life insurance with quality business model focused on sustainable growth. HDFC Standard is also one of the first companies to insurance the contemporary unit-linked products. The partners of HDFC Standard life insurance are ABN AMRO Bank, The Laxmi Vilas Bank LTD, Punjab & Sind Bank Indusland Bank, Bank of Rajasthan.

~ 132 ~

Dabur Hold 74% stake and stake in HDFC Standard life insurance Co. LTD, HDFC Standard life insurance company has a paid up capital Rs 1694.50Crore and it has 224 branches and close to 3000 location.

HDFC Standard life insurance company provide various plan concentrating on individual plan like overview HDFC Standard new young scholar, HDFC Standard new pension Plus, HDFC Standard health plus etc and group plan like HDFC Standard corporate life plus, Group Gratuity plan HDFC Standard group super vision plan etc

HDFC Corporation is one of the Indies leading business groups with interest in provide load For Housing loan, business is insurance & retail. HDFC has been a pioneering Force in the telecom sector.

Vision of HDFC Standard Life is to be leader and preferred company for financial protection and wealth management in India. The HDFC Corporation is such as premises are well maintained with good infrastructure suggestion box for payment of premium through bank.

~ 133 ~

Some of the product is sold by HDFC Standard Life are future secure pension, life insurance, bright star plan, aspire life wealth confident, secure confident, etc.

5.4 LIMITATIONS:
There are various limitations faced during the study as the study. Some of the problems faced during the study are: Major obstruction found the study was respondents were quite reluctant in giving their

original detail.

~ 134 ~

 Even it is noticed that some of the data entry operations were not even ready to fill in the

questionnaires, so their responses were most of the time neutral. There was lack of guidance at some of the stages. The supervisors sometimes were not able to give proper guidance because of his own job responsibilities and lack of time. So it was a little lack of guidance. There were restrictions on the supervisor and on the respondents to very much clear all the policy and process. Nobody in the organization is authorized to disclose all the policies it is because of some certain principles made by the top management of the organization.

~ 135 ~

5.5 REFERANCES: BOOK S

Pandey I M, Financial Management Chowdhary Anil, Fundamentals of Accounting and Financial Analysis Jain & Khan, Financial Managemen Beri. G C, Statistics for management, Tata McGraw Hill Kothari C R, Research Methodology.

INTERNET LINKS
http://en.wikipedia.org/wiki/Insurance_in_India http://www.economywatch.com/indianeconomy/india-insurance-sector.html

http://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx? page=PageNo4&mid=2
http://en.over-blog.com/All_about_HDFC_Life_Insurance-1228321766-

art242202.html
http://www.hdfclife.com/AboutUs/AboutUs.aspx http://www.hdfclife.com/AboutUs/OurVisionAndValues.aspx

~ 136 ~

 http://www.hdfclife.com/AboutUs/AwardsAccloadesNew.aspx
http://www.hdfclife.com/GroupPlans/GPOurParentage.aspx http://www.hdfclife.com/Products/ProtectionPlans/ProtectionPlans.aspx http://www.hdfclife.com/Products/Children%27sPlans/ChildrensPlansLP.aspx http://www.hdfclife.com/Products/RetirementPlans/PensionPlan.aspx http://www.hdfclife.com/Products/SavingsPlans/SavingsPlans.aspx http://www.hdfclife.com/Products/HealthPlans/HealthPlans.aspx http://www.hdfclife.com/AboutUs/AboutUsFinancialHighlights.aspx

http://www.hdfclife.com/sites/HSFCSL/Resources/AboutUs/AboutUSDoc/AnnualRep ort2009-10.pdf

~ 137 ~

5.5 APPENDICS :

Questionnaire
To evaluate the performance of our customer based services _______________________________________________________________________ _

This questionnaire is to analyze the awareness of our initiatives for consumer based services and their performance, which is a part of my internship project. Please contribute your valuable response and time; itll take 5 to 10 minutes. _______________________________________________________________________ _

Consumer Ref No

Name : ________________________

Mobile / Contact No : ________________

~ 138 ~

1).Which of the following plans are you having in HDFC Standard Life? a). Term Policy d).Ulip Plans b). Pension Policy c). Children Policy

2) For what purpose have you invested in HDFC Standard Life? a). Tax Saving

b).Retirement Pension d). Family life security

c). Children Education & Future Plans

3) In which plan would you like to invest for your family? a). Mediclaim

b). Life Plan d). Pension Plan

c). Whole life Plan

~ 139 ~

4) What mode would you prefer to pay the premium? a). Cash

b). Cheque d). Pension Plan

c). Online

5). At what time would you prefer to pay the premium? a).Monthly c). Half- Yearly b). Quarterly

6). Where would you like your money to be invested in? a).Growth Fund c). Traditional Fund 7) Are you satisfied with the services of HDFC Life? a). Yes b). No b). Balance Fund

~ 140 ~

~ 141 ~