MEANING

Bancassurance is the distribution of insurance products through the bank's distribution Channel. Bancassurance, tries to exploit synergies between both the insurance companies and banks. Bancassurance can be important source of revenue . Bancassurance if taken in right spirit and implemented properly can be win-win situation for the all the participants' viz., banks, insurers and the customer.

INTRODUCTION 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's leading housing finance institution and a Group Company of the Standard Life, UK. 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.

In 2001 HDFC Standard Life Insurance Comp. has tied up with Union Bank of India for selling its insurance products . The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC, HDFC Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda, Saraswat Bank and Bajaj Capital.

The various products by HDFC Standard Life include: INDIVIDUAL PRODUCTS: 1. Protection Plans 2. Term Assurance Plan 3. Loan Cover Term 4. Assurance Plan

Investment Plans: 1. Single Premium Whole Life Plan

Pension Plans: 1. Personal Pension Plan 2. Unit Linked Pension Plan 3. Unit Linked Pension Plus Savings Plans: 1. Endowment Assurance Plan 2. Unit Linked Endowment 3. Unit Linked Endowment Plus 4. Money Back Plan 5. Children's Plan 6. Unit Linked Youngster 7. Unit Linked Youngster Plus

GROUP PRODUCTS 1. Group Term Insurance 2. Group Variable Term Insurance 3. Group Unit Linked Plan - Gratuity 4. Group Unit Linked Plan - Superannuation 5. Group Unit Linked Plan - Leave Encashment OTHER PRODUCTS 1. Rural Products 2. Social Development Insurance Plan 3. Tax Benefit Scheme

HEALTH PLANS 1. HDFC Critical Care Plan 2. HDFC SurgiCare Plan

Need for HDFC policy

Savings- secures the savings Investment- ensures growth of money in long term Pension- the savings done makes post retirement life easy Protection- this offers the require protection in the form of income cover, in case of unforeseen eventualities. Health- all the health related emergencies are covered

Associate Companies 1. HDFC Bank 2. HDFC Mutual Fund 3. HDFC Limited 4. HDFC Ergo General Insurance 5. HDFC Sales Other Companies HDFC Developers Ltd HDFC Securities HDFC Trustee Company Ltd HDFC Property Ventures Ltd GRUH Finance Ltd HDFC Investments Ltd Credit Information Bureau Ltd HDFC Holdings Ltd