Summer Training Project On BIRLA SUNLIFE

OBJECTIVE
To determine and analyze the Market Potential of the Birla Sun Life Insurance Company in Lucknow City. To study the overall scenario currently prevailin in the market! namely! the per capital income! purchasin power! occupation! literacy rate! etc. To study and determine the competitor position in the market.
To do a performance evaluation of Birla Sun Life Insurance products in comparison on with other insurance companies
DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!
I T!ODU"TIO Life Insurance
Life insurance Life insurance "Life #ssurance in British $n lish% is a type of insurance. #s in all insurance! the insured transfers a risk to the insurer. The insured pays a premium and receives a policy in e&chan e. The risk assumed 'y the insurer is the risk of death of the insured. (ow life insurance wor)s There are three parties in a life insurance transaction( the insurer! the insured! and the owner of the policy "policyholder%! althou h the owner and the insured are often the same person. )or e&ample! if *ohn Smith 'uys a policy on his own life! he is 'oth the owner and the insured. But if Mary Smith! his wife! 'uys a policy on *ohn+s life! she is the owner and he is the insured. The owner of the policy is called the rantee "he or she will 'e the person who will pay for the policy%. #nother important person involved is the 'eneficiary. The 'eneficiary is the person or persons who will receive the policy proceeds upon the death of the insured. The 'eneficiary is not a party to the policy! 'ut is desi nated 'y the owner! who may chan e the 'eneficiary unless the policy has an irrevoca'le 'eneficiary desi nation. ,ith an irrevoca'le 'eneficiary! that 'eneficiary must a ree to chan es in 'eneficiary! policy assi nment! or 'orrowin of cash value. The policy! like all insurance policies! is a le al contract specifyin the terms and conditions of the risk assumed. Special provisions apply! includin a suicide clause wherein the policy 'ecomes null if the insured commits suicide within a specified time for the policy date "usually two years%. #ny misrepresentation 'y the owner or insured on the application is also rounds for nullification. Most contracts have a contesta'ility period! also usually a two-year period( if the insured dies within this period! the
insurer has a le al ri ht to contest the claim and re.uest additional information 'efore decidin to pay or deny the claim. The face amount of the policy is normally the amount paid when the policy matures! althou h policies can provide for reater or lesser amounts. The policy matures when the insured dies or reaches a specified a e. The most common reason to 'uy a life insurance policy is to protect the financial interests of the owner of the policy in the event of the insured+s demise. The insurance proceeds would pay for funeral and other death costs or 'e invested to provide income replacin the deceased+s wa es. /ther reasons include estate plannin and retirement. The owner "if not the insured% must have an insura'le interest in the insured! i.e. a le itimate reason for insurin another person0s life. The insurer "the life insurance company% calculates the policy prices with an intent to recover claims to 'e paid and administrative costs! and to make a profit. The cost of insurance is determined usin mortality ta'les calculated 'y actuaries. #ctuaries are professionals who use actuarial science which is 'ased in mathematics "primarily pro'a'ility and statistics%. Mortality ta'les are statistically 'ased ta'les showin avera e life e&pectancies. The three main varia'les in a mortality ta'le are a e! ender! and use of to'acco. The mortality ta'les provide a 'aseline for the cost of insurance. In practice! these mortality ta'les are used in con1unction with the health and family history of the individual applyin for a policy in order to determine premiums and insura'ility. The current mortality ta'le 'ein used 'y life insurance companies in the 2nited States and their re ulators was calculated durin the 3456s. There is currently a measure 'ein pushed to update the mortality ta'les 'y 7665. The current mortality ta'le assumes that rou hly 7 in 3!666 people a ed 78 will die durin the term of covera e. This num'er rises rou hly .uadratic ally to a'out 78 in 3!666 people for those a ed 98. So in a roup of one
thousand 78 year old males with a :366!666 policy! a life insurance company would have to! at the minimum! collect :766 a year from each of the thousand people to cover the e&pected claims. The insurance company receives the premiums from the policy owner and invests them to create a pool of money from which to pay claims! and finance the insurance company+s operations. Contrary to popular 'elief! the ma1ority of the money that insurance companies make comes directly from premiums paid! as money ained throu h investment of premiums will never! in even the most ideal market conditions! vest enou h money per year to pay out claims. ;ates char ed for life insurance increase with the insured+s a e 'ecause! statistically! a people are more likely to die as they et older. Since adverse selection can have a ne ative impact on the financial results of the insurer! the insurer investi ates each proposed insured "unless the policy is 'elow a company-esta'lished minimum amount% 'e innin with the application! which 'ecomes part of the policy. <roup Insurance policies are an e&ception. This investi ation and resultin evaluation of the risk is called underwritin . =ealth and lifestyle .uestions are asked! and the answers are dutifully recorded. Certain responses 'y the insured will 'e iven further investi ation. Life insurance companies in the 2nited States support The Medical Information Bureau! which is a clearin house of medical information on all persons who have ever applied for life insurance. #s part of the application! the insurer receives permission to o'tain information from the proposed insured+s physicians. Life insurance companies are never re.uired 'y law to underwrite or to provide covera e on anyone. They alone determine insura'ility! and some people! for their own health or lifestyle reasons! are uninsura'le. The policy can 'e declined "turned down% or rated. ;atin means increasin the premiums to provide for additional risks relative to that particular insured.
Many companies use four eneral health cate ories for those evaluated for a life insurance policy. These cate ories are Preferred Best! Preferred! Standard! and To'acco. Preferred Best means that the proposed insured has no adverse medical history! is not under medication for any condition! and his family "immediate and e&tended% have no history of early cancer! dia'etes! or other conditions. Preferred is like Preferred Best! 'ut it allows that the proposed insured is currently under medication for the condition and may have some family history. Most people are in the Standard cate ory. Profession! travel! and lifestyle also factor into not only which cate ory the proposed insured falls! 'ut also whether the proposed insured will 'e denied a policy. )or e&ample! a person who would otherwise 'e in the Preferred Best cate ory will 'e denied a policy if he or she travels to a hi h risk country. 2pon the death of the insured! the insurer will re.uire accepta'le proof of death 'efore payin the claim. The normal minimum proof is a death certificate and the insurer+s claim form completed! si ned! and often notarized. If the insured+s death was suspicious and the policy amount warrants it! the insurer may investi ate the circumstances surroundin the death! 'efore decidin whether there is a le al o'li ation to pay the claim. Proceeds from the policy may 'e paid in a lump sum or as an annuity paid over time in re ular recurrin payments for either for the life of a specified person or a specified time period.
COMPANY PROFILE
Birla Sun Life Insurance Company Limited "BSLI% is a 1oint venture 'etween the #ditya Birla <roup and Sun Life )inancial Inc.! a leadin international financial services or anisation. The local knowled e of the #ditya Birla <roup com'ined with the e&pertise of Sun Life )inancial Inc.! offers a formida'le value proposition to customers. Sun Life )inancial and its partners today have operations in key markets worldwide! includin India! Canada! the 2nited States! the 2nited >in dom! =on >on ! Philippines! *apan! Indonesia! China and Bermuda. Sun Life )inancial Inc. had assets under mana ement of over 2S: ?59.57 'illion! as on ?3 March 766@. Sun Life )inancial Inc. is a leadin performer in the life insurance market in Canada. BSLI in its five successful years of operations has contri'uted si nificantly to the rowth and development of the life insurance industry in India. It pioneered the launch of 2nit Linked Life Insurance plans amon st the private players in India. It was the first player in the industry to sell its policies throu h the Bank assurance route and throu h the internet. It was also the first private sector player to introduce a pure term plan in the Indian market. This was supported 'y sales practices! which 'rou ht a de ree of transparency that was entirely new to the market. The process of ettin sales illustrations si ned 'y customers! offerin a free look period on all policies! which are now industry standards were introduced 'y BSLI. Bein a customer centric company! BSLI has invested heavily in technolo y to 'uild world class processin capa'ilities. BSLI has covered more than one and a half million lives since inception and its customer 'ase is spread across 366 cities in India. #ll this has assisted the company in cementin its place amon st the leaders in the industry in terms of new 'usiness premium
income. Birla Sun Life Insurance "BSLI%! one of the leadin private life insurers in India today announced the inimita'le achiever! cricketer >apil Aev as their corporate 'rand am'assador. The cricketin supremo will 'e endorsin BSLI in all its marketin initiatives. Birla Sun Life Insurance is a value-driven 'rand which has a national 'rand recall of @6 per cent. The o'1ective of appointin a 'rand am'assador is to row its 'rand recall as it oes national in its distri'ution reach and fuel 'usiness rowth. #s a 'rand am'assador! >apil Aev will play a key role in the 'rand and product marketin and promotional activities. BSLI has always used an inte rated marketin approach! which will 'e stren thened further. Commentin on the association with >apil Aev! Mr. S. >. Mitra! Airector! )inancial Services! #ditya Birla <roup and currently inchar e of BSLI e&pressed! BThe Birla Sun Life Insurance 'usiness distri'ution network is national in nature coverin more than 3666 points across the country .,e have made our entry in several tier I and tier II towns. It is therefore very important for the 'rand to connect at the rassroot level and create trust. ,e 'elieve that our association with >apil Aev as our 'rand am'assador will help us create this connect in a shorter period of time. ,e therefore now have two stron connects C our parent 'rand Birla and our 'rand am'assador >apil AevB. >apil Aev! also known as the =aryana =urricane! was 'orn on 9 *anuary 3484 in Chandi arh. =e played his first competitive ame of cricket at the a e of 3? years and made his test de'ut on 39 /cto'er 34@5 at )aisala'ad a ainst Pakistan. >apil Aev remained India+s top strike 'owler for almost 38 years. =is e&traordinary test match fi ures of more than 8666 runs and D?D wickets alon with 9D catches show that he was a world class cricketer and an all-rounder. =e has raised the mantle of India to sportin winnin us the ,orld Cup.
lory 'y
In a study conducted 'y BSLI! >apil Aev connected e&tremely well with the life insurance cate ory and had hi h acceptance 'y the masses. /ur survey su ests that he is seen as a very ood fit for the BSLI 'rand. =e is very much loved and respected 'y a vast ma1ority of the population. /n 79 Eovem'er 7669! Birla Sun Life was host the annual olf tournament at the Chem'ur <olf Clu' in Mum'ai where >apil Aev was participate. A*out Birla Sun Life Insurance Birla Sun Life Insurance Company Limited is a 1oint venture 'etween the #ditya Birla <roup! one of the lar est 'usiness houses in India and Sun Life )inancial Inc.! a leadin international financial services or anisation. The local knowled e of the #ditya Birla <roup com'ined with the e&pertise of Sun Life )inancial Inc.! offers a formida'le protection for your future. Birla Sun Life Insurance "BSLI%! in its five successful years of operations! has contri'uted si nificantly to the rowth and development of the life insurance industry in India. It pioneered the launch of unit linked life insurance plans amon st the private players in India. It was the first player in the industry to sell its policies throu h the 'anc assurance route and throu h the internet. It was the first private sector player to introduce a pure term plan in the Indian market. This was supported 'y sales practices which 'rou ht a de ree of transparency that was entirely new to the market. The process of ettin sales illustrations si ned 'y customers and offerin a free look period on all policies! which are now industry standards! were introduced 'y BSLI. Bein a customer-centric company! BSLI has invested heavily in technolo y to 'uild world class processin capa'ilities. BSLI has covered more than a million lives since inception and its customer 'ase is spread across more than 3666 towns and cities in India. #ll this has assisted
the company in cementin its place amon st the leaders in the industry in terms of new 'usiness premium income. The company+s current capital 'ase is ;s.876 crore. A*out the Adit+a Birla ,roup The #ditya Birla <roup has a turnover close to ;s.?5!666 crore "as on ?3 March 7665% and is one of the lar est 'usiness houses in India. It en1oys a leadership position in all the sectors in which it operates. ,ith over @8 'usiness units spannin the South $ast #sian 'elt! #frica! Canada and the 2> amon others! it is reckoned as India+s first multinational corporation. The roup is anchored 'y @7!666 employees and has seven lakh with a market capitalization of ;s.8?!D66 crore. shareholders!
A*out Sun Life Financial IncSun Life )inancial Inc. is a leadin or anisation providin international financial services
a diverse ran e of wealth accumulation and
protection products and services to individuals and corporate customers. Tracin its roots 'ack to 3598! Sun Life )inancial and its partners today have operations in key markets worldwide! includin Canada! the 2nited States! the 2nited >in dom! =on >on ! the Philippines! *apan! Indonesia! India! China and Bermuda. #s of ?3 March 7665! the Sun Life )inancial roup of companies had total assets under mana ement of 2S: ?D? 'illion. Sun Life )inancial Inc. trades on the Toronto "TSF%! Eew Gork "EGS$% and Philippine "PS$% stock e&chan es under ticker sym'ol BSL)B.
'ISIO
'ISIO
To 'e a world class provider of financial security to individuals and corporates and to 'e amon st the top three private sector life insurance companies in India
&ISSIO
&ISSIO
To 'e the first preference of our customers 'y providin innovative! need 'ased life insurance and retirement solutions to individuals as well as corporates. These solutions will 'e made availa'le 'y well-trained professionals throu h a multi channel distri'ution network and superior technolo y. /ur endeavour will 'e to provide constant value addition to customers throu hout their relationship with us! within the re ulatory framework. ,e will provide career development opportunities to our employees and the hi hest possi'le returns to our shareholders
S.OT A ALYSIS
ST!E ,T( / Multi-channel distri'ution and one of the lar est
distri'ution networks in India. Implementin Si01Si2ma process. "ustomer centric products and services. Superior investment and risk mana ement framework 3 &illion #olicies sold within ? and half years. Company has ma0imum num*er of &D!T as well as ood num'er of ( I advisors. Trainin process of the company is very stron . Aifferent plan for different peoples #ccordin to the chan e in surroundin environment like chan es in customer re.uirement.
.EA4 ESS/ C/MP#EG does not penetrate on the rural market at a time. There is no plan for the low income roup. )ees for the advisor is hi h than the other company. O##O!TU ITY/ Insurance market is very 'i ! where company can e&pand its horizon in insurance industry Thou h ood investment and insurance it is easy to top Indian customers. The hu e insurance market "@@H% is left so company has opportunity to e&pand our products. To associate with the more num'er of =EI.
T(!EATS/ I/LA =#BITS AI$ =#;A0J Its still difficult task to win the confidence of pu'lic towards private company. The company is facin ma1or threats from LI" -which is an only overnment company. Plans for all income roups is not availa'le which can create
adverse effect later on the market share of the company.
4EY #EO#LES OF O!,A ISATIO
BOA!D OF DI!E"TO!S
Mr. >umar M Birla Mr. Aonald # Stewart! Mr. Bishwanath E Puranmalka Mr. #1ay Srinivasan Mr. <ary M Comerford Mr. Suresh E Talwar Mr. <ian P <upta =is =i hness Mahara1a < Sin h Mr. Stephan ;a1otte Ar. Bharat > Sin h
I 'EST&E T "O&&ITTEE
&r- B- - #uranmal)a &r- Eu2ene Lundri2an &r- A5a+ Srinivasan &r- 'i)ram &ehmi &r- &a+an) Bathwal &r- Fa*ien 6eud+ &r- 'i)ram 4ota) &s- 4eerti ,upta
&ana2ement Team &r- 'i)ram &ehmi President K Chief $&ecutive /fficer &r- &ario Bra2an7a Chief /peratin /fficer &r- &a+an) Bathwal Chief )inancial /fficer
&r- E- - ,oveia =ead - Airect Sales )orce &r- Bhavesh San2hvi =ead - <roup Life K Pensions &s- An5ana ,rewal Senior Lice President Marketin K Communications &r- 4-('en)atachalam Lice President - =uman ;esource &r- Lalit 'ermani Lice President Compliance &r- 'i)ram 4ota) Lice President Investments
&r- Amit #unchhi Senior Lice President Third Party Aistri'ution &r- Snehal Shah Senior Lice President /perations
&r- !a5esh Bho5ani Senior Lice President AS) $&pansion
&r- Fa*ien 6eud+ Lice President! Chief K #ppointed #ctuary &r- &elv+n D8sou7a Lice President - ;isk Mana ement and Internal #udit &r- Bhalachandra a+a) Lice President - Strate y
DETAILS OF #!ODU"TS
Individual Life
#rotection
Birla Sun Life Term Plan Premium Back Term Plan
Savin2
Birla Sun Life Insurance <old-Plus Supreme Life Aream Plan Classic Life Premier Simply Life Prime Life Premier Prime Life Life Companion )le&i Cash )low )le&i Save Plus )le&i Life Line Sin le Premium Bond
!etirement
)le&i Secure Life ;etirement Plan II
"hildren
Children+s Aream Plan
!ural
Bima >avach Go1ana
!iders
#ccidental Aeath and Aismem'erment ;ider Term ;ider Critical Illness ;ider ,aiver of Premium Critical Illness Plus ;ider Critical Illness - ,oman ;ider
!etirement
/ur ;etirement Plans allow you to meet your e&penses and 'uild a nest e ! which ives you the freedom to live life to the fullest even after retirement.
The post retirement years can 'e the 'est years of your life. Time to do thin s you couldn+t have done while you were workin . # ri ht financial plannin makes your post retirement years truly olden . /ur Sun Life secure Life II assures you 1ust that.
#!ODU"TS
Insurance Plans Life is unpredicta'le. But in face of adversity! our responsi'ilities towards our parents! children and loved ones need not 'e compromised. Insurance plannin e.uips you to smooth out the uncertainties and adversities that life mi ht send your way! so that the 'est that life has to offer! secure in the knowled e that your 'eloved ones are well provided for. BSLI offers a complete ran e of insurance products 3 . #rotection #lans 9- Savin2s #lans :- "hild #lans ;- Investment #lans <- !etirement #lans =- ,roup #lans >- !ural #lans ?- #lans for !Is
@- 4e+man #lans 3A- !iders
Protection Plans
BSLI offers Life,uard - a set of pure protection plans. Choose from amon st three different product structures to insure your life and provide total security to your family! at a very afforda'le cost. Level Term Assurance with return of premium /n death the entire sum assured will 'e paid. /n maturity! all the premiums paid will 'e returned.
Level Term Assurance without return of premium /n death the entire sum assured will 'e paid. Eo survival or maturity 'enefits. #ccident
Gou can also enhance the a'ove two policies 'y addin
K Aisa'ility Benefit ;ider and ,aiver of Premium ;ider ",/P% . Level Term Assurance 1 Sin2le premium/ /n death the entire sum assured will 'e paid. Eo survival or maturity 'enefits
Savings Plans
BSLI offers a variety of policies that events! like a home! a car or a weddin .
ive you the 'enefits of
protection and the opportunity to save for important assets or
# re ular premium unit-linked insurance plan with an assurance of Capital <uaranteeM with the added advanta e of fle&i'le li.uidity option. #n ideal plan for lon 'enefit of li.uidity. The )e+ features of the plan are/ )le&i'ility to choose a specific level of protection "Sum #ssured%! 'ased on a multiple of the annual premium. Gou can also choose the term of the plan. #t the end of the term! the hi her of the value of units or the alon uaranteed valueN is paid. /n death! Sum #ssured with the hi her of value of units or the uaranteed term plannin with the
value is paya'le. )acility to make withdrawals from the 9th policy year onwards till the end of the policy term. $very year withdraw up to 36H of the value of units. #dditional credits paya'le as a percenta e of the initial annual premium are paid alon 'enefit. #dditional insurance for 36 years after the maturity! for an amount of 86H of the Sum #ssured.
with the death or maturity
)le&i'ility to make additional investment with the help of the top-up facility. )le&i'ility to increase O decrease your annual premium amount )acility of #utomatic Premium Payment- ,ith this facility you can take a temporary 'reak from premium payment. NN Total transparency with the premium allocations! and other char es declared upfront. The uaranteed value of the unit fund is the value of all invested premiums "premiums net of all char es% alon with the declared 'onus interests. NN ,ith #utomatic Premium Payment facility! you can avail a temporary 'reak from premium payment for a ma&imum of 3 year. This facility is availa'le once if the premium payin term is less than 38 years and twice! if it is 38 years or more. Gou can also enhance your policy 'y addin Critical Illness ;ider . #ccident K
Aisa'ility Benefit ;ider ! ,aiver of Premium ;ider and
# re ular premium unit-linked insurance plan with an assurance of Capital <uaranteeM #n ideal plan for your lon -term savin s and protection re.uirement.
The )e+ features of the plan are J )le&i'ility to choose a specific level of protection " Sum Assured %! 'ased on a multiple of the annual premium. Gou can also choose the term of the plan. the #t the end of the term! the hi her of the value of units or uaranteed valueN is paid. /n death! Sum #ssured alon uaranteed value is with the hi her of value of units or the paya'le #dditional credits paya'le as a percenta e of the initial annual premium are paid alon 'enefit. #dditional insurance for 36 years after the maturity! for an amount of 86H of the Sum #ssured. )le&i'ility to make additional investment with the help of the top1up facility. )le&i'ility to increase B decrease your annual premium amount )acility of #utomatic Premium Payment- ,ith this facility you can take a temporar+ *rea) from premium payment. Total transparency with the premium allocations! and other char es declared upfront. with the death or maturity
The
uaranteed value of the unit fund is the value of all with
invested premiums "premiums net of all char es% alon the declared 'onus interests.
,ith #utomatic Premium Payment facility! you can avail a temporary 'reak from premium payment for a ma&imum of 3 year. This facility is availa'le once if the premium payin term is less than 38 years and twice! if it is 38 years or more. The capital uarantee is applica'le only on the invested
premium and the declared 'onus interests. Gou can also enhance your policy 'y addin Illness ;ider. #ccident K
Aisa'ility Benefit ;ider! ,aiver of Premium ;ider and Critical
# unit-linked insurance plan with an assurance of Capital <uarantee which offers you the 'enefit of a limited premium payment term. #n ideal plan for protection with wealth creation that offers the fle&i'ility of a limited premium payin term. )le&i'ility to choose a premium payment term of 8! @ or 36 years for a maturity term of 36! 38 or 76 years respectively. )le&i'ility to choose a specific level of protection "Sum #ssured%! 'ased on a multiple of the annual premium. #t the end of the term "maturity%! the hi her of the value of units or the uaranteed valueN is paid. /n death! Sum #ssured alon with the hi her of value of units or the uaranteed value is paya'le.
#dditional credits paya'le as a percenta e of the initial annual premium are paid alon 'enefit. )acility to make withdrawals from the 9th policy year onwards till the end of the policy term. $very year withdraw up to 36H of the value of units )le&i'ility to make additional investment with the help of the top-up facility. )le&i'ility to increase O decrease your annual premium amount Total transparency with the premium allocations! and other char es declared upfront. The uaranteed value of the unit fund is the value of all with invested premiums "premiums net of all char es% alon the declared 'onus interests. The capital uarantee is applica'le only on the invested with the death or maturity
premium and the declared 'onus interests. Gou can also enhance your policy 'y addin Aisa'ility Benefit ;ider and Critical Illness ;ider. #ccident K
Presentin
Premier Life P The Preferred plan for the Preferred
Customer. The key features of the plan areJ Limited premium payment optionJ Choose from amon @ or 36 year premium payin term. a ?! 8!
Choice of sum assuredJ Choose a sum assured! which is a minimum multiple of 3 and a ma&imum multiple of 78 times the annual contri'ution. #dditional allocation of units on a periodic 'asis. )acility to top-up your investment any time you have surplus funds. Choose from amon four funds! 'ased on your investment o'1ective and risk appetite. Choice to switch 'etween investments options "D free switches every policy year%. Fle0i*ilit+ to decrease +our sum assured #dd-on riders to protect you a ainst any eventuality. Loans a ainst the policy. Gou can also enhance your policy 'y addin !iderC Accident $ Disa*ilit+ Benefit !ider"ritical Illness
Presentin Life Time P unit Plinked plans that meets your chan in needs over a lifetime. These solutions have 'een developed to meet your savin s! protection and investment needs at every sta e in life.
#rotection Choose a specified level of protection "availa'le only with LifeTime%. Two levels of Sum #ssured to choose from "availa'le only with LifeTime II%. )le&i'ility to increase or decrease your sum assured DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!
#dd-on riders to protect you a ainst any eventuality.
Savin2s )le&i'ility to increase or decrease your contri'ution. )acility of Premium =oliday! wherein the policy continues even if there is a temporary 'reak in the payment of annual contri'ution "availa'le only with Life Time%. )acility of #utomatic Cover Continuance! wherein the policy continues even if there is a temporary 'reak in the payment of annual contri'ution )acility to top-up your investment any time you have surplus funds. #dditional allocation of units on a periodic 'asis. Loans a ainst the policy.
Investment/ Choose from amon four funds! 'ased on your investment
o'1ective and risk appetite. Choice to switch 'etween investments options "D free switches every policy year%. Gou can also enhance your policy 'y addin Critical Illness
;ider! Ma1or Sur ical #ssistance ;ider! #ccident K Aisa'ility Benefit ;ider! #ccident Benefit ;ider "availa'le only with Life Time% and ,aiver of Premium ;ider
#n insurance plan that
ives added protection! savin s and
multiple options! all in oneQ The fle&i'ility to choose your premium contri'ution. The fle&i'ility to choose amon st three levels of cover "in the form of sum assured% for the same amount of total annual contri'ution. The fle&i'ility of shiftin as you re.uire. The fle&i'ility of receivin your maturity proceeds as a lump sum or in e.ual annual installments over ? or 8 years. Gou can also enhance your policy 'y addin ;iders Lariety of 'etween the three levels of cover!
#n insurance plan that
ives you added protection! savin s!
multiple options! plus the power of li.uidity. The fle&i'ility to choose your premium contri'ution. The fle&i'ility to choose amon st three levels of cover "in the form of sum assured% for the same amount of total annual contri'ution. The fle&i'ility of shiftin as you re.uire. 'etween the three levels of cover!
The fle&i'ility of receivin
your maturity proceeds as a lump up to 36H of the accumulated
sum or in e.ual annual installments over ? or 8 years. The fle&i'ility of withdrawin value of your policy! after the first 8 policy years. Gou can also enhance your policy 'y addin Lariety of ;iders
#n ideal plan for those who want to accumulate funds on a re ular 'asis while en1oyin insurance protection.
,uaranteed Benefits/ <uaranteed additions R ?.8H of the
Sum #ssured! compounded annually for the first D years of the policy.
E0tended Life "over/ #n e&tended cover for 8 years after the
maturity of the policy! for 86H of the sum assured! at no e&tra cost.
&aturit+ Benefit/ #t the end of the term! the policyholder
receives the full sum assured! the the vested 'onuses.
uaranteed additions and
Death Benefit/ The 'eneficiary receives the sum assured! the
uaranteed additions and the vested 'onuses incase the life assured were to meet with an unfortunate event. In case the life assured is a ed @ years or less! the 'asic premium paid will 'e returned.
Gou can also enhance your policy 'y addin Benefit ;ider ! ,aiver of Premium ;ider ",/P%
Critical Illness
;ider ! Ma1or Sur ical #ssistance ;ider ! #ccident K Aisa'ility
Child Plans
#s a responsi'le parent! you will always strive to ensure a hassle-free! successful life for your child. =owever! life is full of 2ncertainties and even the 'est-laid plans can =ere0s how you can o wron . ive your child a 366H safe and assured
tomorrow! whatever the uncertainties. Smart >id is especially desi ned to provide fle&i'ility and safe uard your child0s future education and lifestyle! takin all possi'ilities into account. Choose from amon st a 'asket of D plansJ

Smart 4id re2ular premium Smart 4id unit1lin)ed re2ular premium Smart 4id unit1lin)ed re2ular premium II Smart 4id unit1lin)ed sin2le premium II
All these plans offer +ou/

Financial Benefits/ ;e ular payments at critical sta es in
your child0s life! like Board e&aminations! <raduation and Post- raduation.
Total peace of mindC even if +ou are not around Sum Assured is paid immediatel+/ $nsures that your
loved ones stay financially secure! even in your a'sence.

All future premiums are waived/ $nsurin
that your
family is not financially 'urdened in your a'sence.

#olic+ *enefits continue/ The educational 'enefits of the
policy continue! ensurin
that your child can realize his or uarantees re ular
her dreams without any hassles.

Development Allowance/ Smart >id
income to secure your child0s educational career and also ensures his or her all-round development! for a nominal additional amount. The Income Benefit !ider takes care of this throu h an annual payment of 36H of the sum assured! to your child! till the maturity of the policy! in the unfortunate event of the death of the parent. #ll Smart>id plans can 'e enhanced with the Accident $ Disa*ilit+ Benefit !ider and Income Benefit !ider - Gou can also an #ccident Benefit ;ider to a Smart>id ;e ular Premium policy! and a .aiver of #remium !ider D.O#E t o Smart>id unit-linked re ular premium policy.
Investment Plans
Life Link II is a uni.ue plan that com'ines the security of a life insurance policy with the opportunity of en1oyin hi h returns on your investments! without the market risks compromisin on the protection of your familyQ Death Benefit/ The Sum #ssured under the product has 7 options! either 866H of the initial premium or 368H of the initial premium. In the event of an unfortunate death! the 'eneficiary will receive hi her of the value of units or the initial death 'enefit! less any withdrawals. .ithdrawal Benefit/ /ne can make partial withdrawals from the accumulated value of the policy after completion of one policy year. Fle0i*ilit+/ Choose from four fund options! 'ased on your investment o'1ective and risk appetite. If at a later sta e your financial priorities chan e! you can switch 'etween the various fund options! a'solutely free! D times a year.
Retirement Plans
Life $&pectancy has 'een risin e&pect to live lon er than your earlier
rapidly and today you can enerations. )or you! this into a
increase will mean a lon er retirement life! stretchin
couple of decades. BSLI ;etirement Solutions that com'ine the 'est of insurance and investment. These solutions are developed to ensure your peace of mind for the years to come. 3. 7. ?. D. 8. ,hy plan for retirementS =ow much should I set aside for retirementS The impact of inflation on your retirement savin s ,hy plan earlyS #'out #nnuities
.h+ plan for retirementF )or too many people! the 1oy of retirement after years of hard work is eclipsed 'y the financial uncertainties that it 'rin s. Aespite all the plannin and savin ! you can never sure whether your money will last a lifetime. ;etirement plannin offers a way to ensure a more en1oya'le! stress free tomorrow. # prudent plan will ensure that increasin inflation and increasin earned savin s.
life e&pectancy! hi her
ta&es do not eat away into your hard
(ow much must I set aside for retirementF To ensure a comforta'le retired life! you would 'e wise to invest money into additional avenues like pension plans. =ow much you need to invest can 'e answered 'y answerin .uestions such asJ 3. =ow lon retirementS 7. ,here can you invest your retirement moneyS ?. =ow much risk are you willin to take on your investmentsS do you have to save that amount 'efore some
Group Solutions
In an era of competitive parity! the only asset that makes a decisive difference 'etween corporate success and failure is the .uality of human capital. $mployee 'enefits have proven to 'e an e&cellent tool to optimize the retention of talent and improve an or anization0s 'ottom-line. The .uality of an or anization0s employee 'enefits esta'lishes and maintains a company+s ima e as a carin employer. /ptimum care of employees is a lon -term investment that results in a sustained competitive advanta e for an or anization in the times to come. BSLI ,roup Solutions Advanta2e/ #n inte rated 'asket of employee 'enefits solutions that offer incompara'le fle&i'le 'enefits. Sound investment mana ement that focuses on safety! sta'ility and profita'ility of the portfolio. Personalized financial plannin takes care of hisOher chan in sta e of life. Tuality service initiatives and transparency across all operations! promisin superlative operational efficiency. for your employee that financial needs at every
,roup Term Assurance / =elps provide afforda'le cover to mem'ers of a roup. ,roup ,ratuit+ #lan / =elps employers fund their statutory ratuity o'li ation in a fle&i'le and hassle-free manner. ,roup Superannuation #lan / # fle&i'le scheme "defined 'enefit and defined contri'ution% to provide a retirement kitty for each mem'er of the roup. ,roup Term Assurance/ BSL I fle&i'le roup term solution helps provide afforda'le roup. The cover could 'e uniform or
cover to mem'ers of a
'ased on desi nationOrank or a multiple of salary! and can 'e e&tended to all employees 'etween the a es of 35 and 98 years. The 'enefit under the policy is paid on the event of the mem'er0s death to the 'eneficiary nominated 'y the mem'er. It is a one-year renewa'le policy where one master policy covers all proposed employees comprisin out oin mem'ers can leave the the roup! with a minimum roup and the roup size of 78 persons. Eew mem'ers can 1oin the policy term.
roup at any point durin
(i2hli2hts include/
,reater
convenience for the employees with rela&ed "over LimitsG with simplified underwritin roup and
underwritin and medical re.uirements.

GFree
dependin
upon the num'er of employees in the
the level of cover chosen.

,uaranteed *enefit/ /n death durin
the term of the
contract "while in service%! the sum assured will 'e paid to the 'eneficiary of the employee. Choice of additional covera e in form an #ccident and Aisa'ility Benefit ;ider and Critical Illness Cover Premium is viewed as a 'usiness e&pense in the year of payment. ,roup ,ratuit+ #lan/ BSLI roup ratuity plan helps employers fund their ratuity
o'li ation in a scientific manner. $mployers can avail of the ta& 'enefits as applica'le to approved ratuity funds. The plan can also 'e customized to structure schemes that can provide 'enefits 'eyond the statutory o'li ations. =i hli hts includeJ
.ider choice of investments with &ar)et Lin)ed #lans -
to meet the diverse financial
oals. ,e offer D investment
options "short-term de't! de't and 'alanced and capital
uarantee
plan%
where
investments
will
'e
made
in
accordance with the fund o'1ectives.

Transparenc+ throu h Aaily disclosure of 2nit Lalue and
re ular disclosure of the portfolio of each of the investment option

Fle0i*ilit+ throu h switchin
and contri'ution redirection
option to ena'le reshufflin of portfolio

Bundled Life "over
reater value to the employee 'y ratuity! with
packa in
life insurance cover with the
minimal amount of underwritin .

Actuarial services to provide a scientific estimation of the
ratuity lia'ility.
Low e0plicit char2e structure with the conditions for e&it
specified upfront.
Enhanced service levels throu h faster claim settlement!
easier access to information and re ular statements.

"omplete end to end solution in the le2al and re2ulator+
approval process for scheme set up or transfer Emplo+ee Benefits/ The contri'ution made 'y the employer is not included in the value of ta&a'le per.uisites in the hands of the employee. <ratuity received up to ;s ?86666 is e&empt from Income ta& under Sec 36"36% Emplo+er Benefits/
#nnual contri'ution up to 5.??H of salary 'ill in a financial year is allowed a deduction for the purpose of computation of profits and ains of 'usiness. Contri'ution towards past service lia'ility is allowed as deduction as per the Income Ta& rules. ,roup Superannuation #lan/ BSLI Superannuation Scheme "for 'oth Aefined Benefit and Aefined Contri'ution funds% offers su'stantial 'enefits to 'oth employers and employees. The employer and employee can avail of ta& 'enefits applica'le to an approved superannuation trust. The scheme will provide for a retirement fund for each participatin employee. #n employee would 'e a'le to choose from various annuity options or opt for partial commutation of corpus at retirement. (i2hli2hts include/
.ider choice of investments with &ar)et Lin)ed #lans - to
meet the diverse financial
oals. ,e offer 8 investment
options Dshort1term de*tC de*tC *alancedC 2rowth and capital 2uarantee planE where investments will 'e made in accordance with the fund o'1ectives.
"ontrol - $ach mem'erOemployer can e&ercise
reater control
over investments 'y choosin options.
one or more of the investment
&ultiple Annuit+ Options - 8 annuity options and open
market option
Transparenc+ - Transparency throu h Aaily disclosure of
2nit Lalue and re ular disclosure of the portfolio of each of the investment option
Fle0i*ilit+ - )le&i'ility throu h switchin
and contri'ution
redirection option to ena'le reshufflin of portfolio

Low
e0plicit char2e structure with conditions for e&it
specified upfront.
Enhanced service levels throu h faster claim settlement!
easier access to information and re ular statements.

"omplete end to end solution in the le al and re ulatory
approval process for scheme set up or transfer

Rural Plans
BSLI ;ural Products are desi ned to meet the needs of the rural consumers. These products offer the followin featuresJ 3. Low and #fforda'le Premiums 7. Life Cover ?. Savin s /ption D. =assle free procedure BSLI offers 7 specially desi ned rural plans. a% '% BSLI P $ndowment Plan BSLI - ;e ular Premium
BSLI Endowment #lan/ BSLI offers the followin featuresJ

Life Cover and Savin s ;e ular Premiums # e at entry Premium Mode Term Sum #ssured Premium O Gear MaturityOAeath 'enefit BSLI 1 !e2ular #remium/ BSLI is a re ular premium policy with the followin featuresJ Individual policy /nly Life cover Term - ? K 8 Grs # e independent premium # e at entry Sum #ssured Premium O Gear MaturityOAeath 'enefit Aeath Benefit 35 - D8 Grs Sin le ;s 86 P 766 ;s.8!666 - 76!666 Sum #ssured 35 - D8 Grs =alf Gearly O Gearly 8!36!38 Grs ;s.8!666 -76!666 ;s. 86@ - 88? " S#J ;s.36!666% Sum #ssured
Plans for NRIs
!I #lans/ Bein away from India doesn+t mean you have to compromise the safety and security of your loved ones. In fact! your savin s from your time overseas can 'e easily canalized to meet your family+s needs - now and in the future. So! whether its your dream to retire in your hometown( to secure funds for your children+s education( or to 'uild assets! BSLI has a ran e of solutions that can 'e customized to meet your needs.
I!DA
DI DIA !E,ULATO!Y DE'LO#&E T AUT(O!ITYE
I!DA/
The insurance sector has 'een opened up in India! as there was an ur ent need. The international e&perience indicates those country with a li'eralized insurance sector have witnessed a rapid volumes enhancin the domestic savin rowth in premium rate. This happened in "hinaC
&ala+sia and Sin2apore where a competitive market has led to improvement in Services and .uicker settlement of claims. It is also important to note that competition will 'rin a'out advancement in information! communication and technolo y. #nd ri htly therefore a decision was taken 'y the <overnment of India to open up Insurance sector. The esta'lishment of I!DA in the month of April 9AAA has 'een important development in this direction! makin the end of monopoly in the insurance sector. .(Y I SU!A "E I I DIA/ /nly 77H of the insurance population has 'een e&tended cover. Market penetration is low and the potential to e&ploit is hi h. Insurance premium per capita is very low. Lack of comprehensive social system 'enefit and welfare means that demand for pension products is hi h. =u e middle class of appro&imately ?66 Million. $&istin insurance company score low on customer service front. The insurance market re istered rowth in the #sian re ion even thou h India0s share in lo'al insurance is less than 6.8H "3455% as compared to 2S# "7D.7H% and *apan "73H%. Studies have reveled that in an emer in
market! as disposa'le income rises! Insurance premiums as a ratio of <AP shoots up. The confederation of Indian Industry pro1ected a rowth of Life Insurance premiums from ;s. ?86 Billion at present to ;s.3D6 Billion. The rowth of non-life insurance premium is e&pected to increase from @8 'illion to ?@8 'illion. /ut of which! only 36H is tapped 'y the e&istin insurer. Insurance even more than 'ankin is a volume ame. # very
e&clusive approach in view is unlikely to provide meanin ful num'ers. Currently! insurance is 'ou ht for the purpose of ta&-'enefits. # hi her percenta e of 'usiness is in the rural market. The share of rural new 'usiness insurance total new 'usiness is 88H in terms of policies and D@H in terms of sum assured. =owever! this needs to 'e viewed in the li ht of some recent issues that have 'een raised re ardin as to what constitutes the rural market. Therefore! private insurers will 'e 'est served 'y middle market approach! tar etin une&ploited. =ow many Indians are aware that LIC has more than 96Products and <IC has more than 356ProductsS Eot only there is a reduction in the premiums of Life Insurance products have lon overdue since Indian morality rate has decreased three folds in the last 86years. There is also scope to increase the yield on life insurance policies "presently 9H% with proper risk mana ement in place. It is 'een de'ated that insurance 'usiness does not produce profit in the first five years cross su'sidization is a feature of Indian market. $ven the first portfolio vote that is considered profita'le! cross su'sidizes other departments. Tariffs reduction is likely to reduce profits( further insurers have to institute proper claims mana ement pro ress in order to e&tract
the customer se ments that are presently
efficiencies. #t present life insurance 'usiness in the country is ta&ed at 37.8H of the profit in financial year. The overnment is soon to present a new model of ta&in life insurance companies at international rates. Eew entrants should 'e well advised to look ahead to the sta e where 'rand stren th will 'e a competitive advanta e and sketch their alliances accordin ly. In fact! we 'elieve that alliance related to distri'ution rather than to produce or technolo y will prove most valua'le in the lon run. Banks and financial companies will emer e! as attractive distri'ution channel for this insurance trend will 'e led 'y two factors! which already apply in other world market. )irst Bankin food insurance! fund mana ement and other financial services companies are 'ein to increase their profita'ility and provide ma&imum value to their customers. Therefore! they are themselves lookin for a ran e of products to distri'ute. In other market nota'ly $urope( this has resulted in 'ank assurance. Bank enterin into the insurance 'usiness in India to 'ank hope to ma&imize e&pensive e&istin network 'y sellin a ran e of products more of a loss alliance 'etween insurance and 'ank than a formal ownership. Some Indian entrants like ICICI! =A)C and ;eliance hope to ride their e&istin network and customer 'ases.
"(A
EL DE'ELO#&E T
,=G T/ ;$C;2IT ,=/ T/ ;$C;2IT =/, T/ ;$C;2IT ;$C;2ITM$ET #CTILITI$S ,=#T T/ C=$C> ,=IL$ ,$ #;$ ;$C;2ITIE< ;/L$ /) #ALIS/; ,/;>IE< $ELI;/EM$ET A/ G/2 P/SS$SS S2PP/;T P#C>#<$ )/; SC2CC$SS)2L #ALIS/; $FT$ESIL$ T;#IEIE< )/; S2CC$SS)2L #ALIS/; $FT$ESIL$ IEL$STM$ET IE #ALIS/; T;#IEIE< P#GM$ET K B$E$)IT P C/MMISSI/E ST;2CT2;$ ;$C/<EITI/E P;/<;#MS C#;$$; P;/<;$SSI/E K )2T2;$ /PP/;T2EITI$S
.(Y TO !E"!UIT There are two aspects of employment in the insurance sector today. /ne is Permanent $mployment! for sales! operation! IT support! 'ack office services and So on. ,e are also offerin the other kind of employment Pfor people to sell Life Insurance P they are called ILife AdvisorsH- Or IFinancial AdvisorsH- This is a 'i area of employment. Because we are supposed to JJ That the way to do this 'usiness. More recruits! more active advisors! more BDA
.(O TO !E"!UIT Tuality Aeptt. has iven some indicators in terms of what are the common traits"T-SC/;$% of our successful advisorsThe commonalities were A2e Education Famil+ Income / 'etween ?6 -D8 / raduate
/ a'ove ;s. 7 lacs p.a.
The important fact to remem'er is that =3K of our ;$A cate ory advisors do not fall into any of this cate ory. This is a 'road pointer for us to remem'er what are the hisOher profile Some other pointer from Tuality
Most of the ;$A cate ory advisors )#IL$A in the AISC profile P which means that AISC is of success or failure Successful advisors usually have 7 years of work e&p. In their current profession Small time 'usinessmen O entrepreneurs Pv. successful profile ,omenO=ousewives are very successful- however they have not 'een sustaina'le over lon periods. They usually have 'ecome inactive after 9 P @ months of 1oinin . But till the time they are workin ! their avera e ,#PI K Productivity is very hi h compared to others. People who are new to the city are least pro'a'le to do well. ood indicator of chanced
.ho to recruitF =i h pro'a'ility of Success Ta&O )inancial Consultants! C#S Bond O Mutual )und # ents LIC # ents P Surro ates Small 'usiness owners
Avera2e #rofile ,omen Students L;S O retired Personnel Avoida*le #rofiles
Eew to the City Income Profile P #ppro& ;s.3 Lac P.#. People who do not own their transport T(E &OST SU""ESSFUL #!OFILE L T=$ P$;S/E ,=/ =#S B$$E M#E#<$A ,$LL BG G/2. (ow to !ecruitF Thin s which you should have while meetin the prospect. B/P Presenter. ;eward points 'ooklet /; take a copy of the catalo from the we'site P show the ifts! a prospect wouldn0t understand points! 'ut will value the ifts. #dvisor Manual - can show how the manual can answer many procedural issues. Talk a'out email id K tech support P the prospect would like to know what all ill the company ive My Market show 366 P show the 'ooklet and stress its importance. Copy of any certificate P MA;T certificates! Sales Champion certificate etc to show reco nition.
Insist on doin the B/P presentation P it ives a complete picture of what you have to present K answers a lot of .uestions. Stress on different thin s to different profiles P chan e your proposition as per the customer. ,omen P ;ewards! - ift items! household oods! old Goun marketin 'ack round P career Pinnacle. Ta&O M)O LIC # ents P ;ewards K ;eco nition! Star Clu's. C#s P forei n trips! preferential treatment in all aspects! don0t talk a'out commissions! stress on the e&tras. Small 'usinessman O $ntrepreneurs P show ;/$ P ;eturn on $ner y ! to the earn the same amount of money from your 'usiness! you would 'e spendin much more time K ener y a lot of capital from your pocket. T(E #O.E! !E E.AL "O&&ISSIO S/ #lways! always! always stress on the fact that renewal commissions #;$ T=$ differentiator from every other sort of 'usiness Spend lot of time on the Commissions structure the B/P Try to do an e&ample in front of them tryin every year T=$ $#;EIE< C#LC2L#T/; ,ILL B$ /) T=$ =$LP =$;$ to portray the commissions paya'le for the same amount of 'usiness done iven in
!ecruitment Activities
Each of us should have a mi0 of &ass &edia Activities 1 Spra+ $ #ra+ Lead ,eneration activities Aata'ase callin ! cold callin ! #ds! Classified! paper Inserts! Pamphlets! Banners tele-callin ! B/Ps! etc. fish mailers! 'owl mass activity!
Gellow Pa es! Trade Airectories
/ver the last one year! the ,e activities has one
need
to
develop
lead
response from this 'asket of eneration activities more so as down to have more people to touch drastically! thus forcin us to 'e upon and tell a'out this career creative to create other avenues opportunity
Activities which have done well with us in the recent past/ *o ers Park
Summer Trainees Mass B/Ps Aata'ase Callin Lead <eneration #ctivities Tele Callin set ups
Some more wa+s on how to recruit/ Aata'ase #ttack P can 'e done throu h a trainee. Cold Callin ;,# P helps a lot as the respondent does not P Tam'ola or children paintin lead. waste your time 'y dilly dallyin . #ctivities competition- ives real time leads! cost effective per Look at level MB# colle es for Pinnacle pro'a'le. Source local data'ases P Ca'le TL Service providers! home delivery caterers. )ish Bowl #ctivity- in hi h foot'all places. Thin2s to chec) while recruitin2/ $E$;<G! $E$;<G UUU always check the person0s ener y levels! as this career is all a'out meetin people! findin re1ections =is pastO present occupation his ener y levels Show him the path in his current environment how insurance sellin availa'ility Check his environment P his family locality Check whether he can work on his own )ind out if he is lookin have 'oth here for money or career P as he can can fit in P lowers the resistance of time ives tremendous insi ht into new new prospects and more so handlin
Thin2s to chec) while recruitin2/ #lways try to meet the person at his residence- check for the locality! his household! standard of livin ! try to involve the spouse in the presentation so that they know what they are ettin into #lways check on need for money K a drive to do well in life P if he has 'een doin well with us #sk .uestions a'out his past! find instances of accomplishments >eep checkin on the pointers K do a mental check list of the accepta'le points Be convinced a'out the profile and then only o ahead Advisor !ole To provide ongoing financial advice for hi !her clien"# Identify future client Makin appointments Conduct financial review meetin s with prospects O clients Close sale <et referrals Provide service to clients Follows internal sales $ reportin2 s+stems/ well in life! he will make efforts to do
.or)in2 environment/ To 'e part of a world class sales team. ,ork from your own office or residence. ,ork full time or part time. $arn commission! 'onus : incentives. Eo upper limits in earnin s. )le&i'le career.
Your opportunit+/ Eo startup capital re.uired. )le&i'le workin environment. Be your own 'oss. 2nlimited earnin potential. To 'e part of world - class team.
E0tensive trainin2 to ma)e +ou a professional advisor/ State1of1the1art trainin2 on / Sellin skills. Product knowled e. ;elationship skills.
Trainin2 deliver+ throu2h several convenient options / )ace Pto- face. /nline. Self learnin .
Some of our hi2h performers 2etMYEA! 3 <A 3=AAA ?AAAAA Avera2e commission includin2 *onuses estimates N 99-<KO Earnin2s from new *usiness !s "ommission on renewal premium N =K For +ear 9C: $ :K after that Earnin2s from renewal *usiness !s Total earnin2s !s Aependin 3?AAAA ;?AAA 39AAAA ;?AAA >9AAA ;?AAA 3?AAAA 9>AAAA :=AAAA 3?AAAA 9>AAAA :=AAAA YEA! 9 >< 3=AAA 39AAAAA YEA! : 3AA 3=AAA 3=AAAAA
um*er of policies sold Avera2e #remium !sTotal primium earned !s-
:3?AAA
;?AAAA o upto
on the product mi& commission can
?8H in of first year! @.8H in the 7 n d year K ? r d year K 8H D t h year onwardsS
!eco2nition pro2rams / Forei2n trips $ seminarsSelect clu* mem*erships/ 3. Birla Sun Life clu'. 7. Birla Sun Life star clu'. &D!T &em*ership-
"areer pro2ression $ future opportunities/ $&clusive pro ram for hi h potential achievers. =and picked advisors. # fast track career path. ;eco nition as VTi er V Continue doin your 'usiness. Criteria. -# e P78 PD6 years -#t least 3 year in system -Case count 7 per month Part time career as a Trainer. Conduct foundation pro rams. Share 'est flied practices. ;eplicate your 'usiness. Continue doin your 'usiness. Criteria.
-# e 78-D8 years -#t least 9 months s in system - 7 case count per month Fast trac) pinnacle pro2rammes/ # full time career as audit mana er <reater earnin potential Personal Aevelopment Performance criteria -# e 78-D8 years -#t least 9month in system -?6 issuance within 9 months #innacle pro2rammes/ # full time career as a unit mana er <reater earnin potential Personal Aevelopment Performance criteria -# e 78-D8 years -#t least 3 year in system
-#vera e 7 case count per month
A2enc+ champion/

Take your 'usiness to the ne&t level $ntrepreneurs !develop your own 'usiness ;ecruit new advisor and make your own team Increased reach and earnin potential Criteria -#t least 3 year in system -Minimum ?9 policies and ?.9lacs premium -Selection process" assessment center%
e0t steps

Confirmation of mutual interest Selection interview Profilin test dates Araft payment favorin Birla Sun Life Insurance Ltd0 paya'le in mum'ai )inalize Trainin Aates! venue
Support team the CompanyJ

)ield visits Trainin on products K sellin skills
re ular 'usiness reviews 'e a coach K mentor reco nize hi h performers help you 'ecome financially independent
E0pectations of team #chieve sales tar ets Participate in all meetin s #ttend all trainin pro rams ,eekly reviews at the office )ollow the sales process )ollow weekly reportin process
I SU!A "E AD'ISO! A,!EE&E T

Insurance advisor it is a kind of a reement done 'etween advisor to 'e recruited and Birla Sun life Insurance Company Ltd.
BSLI is desires of appointin
the as its Insurance advisor for
solicitin and procurin life Insurance 'usiness for on 'ehalf of BSLI and to provided various services the policy holders. Similarly Insurance advisor has to o'tain and Insurance license to act and Insurance a ent under Section D7 of Insurance act 34?5 and it0s desires of 'ein appointed as Insurance advisor of BSLI This is the kind of a reement which each and every advisor has to adhere. It0s a reement ive the 'rief discussion effective date of appointment! area of Insurance! advisor minimum performance re.uirement and service standards others conditions confidentially to 'e maintain and compensation and remuneration.
9- Effective Date and Appointment as Insurance Advisor/ 7.3- This # reement shall come into force on and from the date of issue of the license to the Insurance #dvisor to act as an insurance a ent! provided that the Company may choose! in writin ! a date other than the date of issue of the license on and from which this # reement shall come into force "such date of comin into force to this # reement referred to as V $ffective Aate W in this # reement%. =owever! where the Insurance #dvisor already holds a valid su'sistin license 'efore e&ecution of this # reement! the $ffective Aate of this # reement shall 'e the date of e&ecution of this # reement. 7.7- BSLI here'y appoints the Party of the /ther Part as Insurance #dvisor and the Party of the /ther Part here'y accepts his appointment as an Insurance #dvisor of BSLI . 7.?- The appointment! continuance and functionin of the Insurance #dvisor shall 'e also overned 'y and shall 'e su'1ect to the provisions of the #pplica'le Laws.
:- Business Area of Insurance Advisor/ ?.3- The Insurance #dvisor will 'e entitled to solicit insurance 'usiness from such territories "and whether in India only or outside of India as well % as shall 'e informed to the Insurance #dvisor separately "such area referred to as VBusiness #reaW and! area other than Business #rea will 'e referred to as VEon-Business #reaW%. ,here the Insurance #dvisor proposes to source 'usiness from any Eon- Business #rea! he shall o'tain the prior approval of BSLI. would 'e entitled to chan e O transfer his appointment to any other area. ?.7- The Insurance #dvisor further a rees that even within his Business #rea! he shall not solicit or procure life insurance 'usiness from any placeOlocation which is on the list of Eon-Servicea'le Pin codes "VServicea'le Pin codeW refers to pin codes of such areas where BSLI can provide customer service to its customers O policyholders! and any pin code other than Servicea'le Pin code refers to VEon- Servicea'le Pin codesW%. The list of Servicea'le Pin code areas as updated from time to time! Is availa'leOposted on the ;estricted ,e'site #rea and no separate communication in this re ard will 'e sent. ?.?- The appointment of the Insurance #dvisor for a Business #rea shall 'e without pre1udice to BSLI0s ri ht to appoint any other insurance advisor"s% in O for the same Business #rea and such appointment of any other insurance advisor"s% shall not entitle the Insurance #dvisor to claim any rela&ation in the Minimum Performance ;e.uirements applica'le to him! nor shall accrue in his favour any cause of action. D. &inimum #erformance !ePuirements and &inimum Service Standards/ D.3- The Insurance #dvisor shall at all times fulfill the Minimum Performance
;e.uirements in terms of new 'usiness! premium income! num'er of proposals! num'er of lives insured or on any other criteria as stipulated 'y BSLI from time to time "hereinafter referred to as the VMinimum Performance ;e.uirementsW%. BSLI may stipulate from time to time the Minimum Performance ;e.uirements and any revision thereto! for a specified period"s% or for any shorter period"s% within such overall specified period"s% or to specify the Insurance Product"s%! which the Insurance #dvisor shall solicit and procure for BSLI . The Minimum Performance ;e.uirements "MP;% criteria would 'e intimated 'y BSLI to the Insurance #dvisor in writin or 'y $mail or 'y postin the same on the ;estricted ,e'site #rea. D.7- The Insurance #dvisor would take all reasona'le steps to conserve the insurance procured 'y him. =e shall also endeavor that the policyholders for whom the is actin as the insurance adviser pay their premiums re ularly and timely. The Company will 'e entitled to fi& minimum service standards O service measures "collectively IMinimum Service Measures0% in respect of the Insurance #dvisor. Such Minimum Service Measures would 'e intimated 'y BSLI to the Insurance #dvisor in writin or 'y $mail or 'y postin the same on the ;estricted ,e'site #rea and the action that can 'e taken in case of the Insurance #dvisor not 'ein Minimum Service Standards. <- Other conditions/ 8.3- ,ithout pre1udice to the enerality of the application of the provision of #pplica'le Law! the Insurance #dviser shall scrupulously follow! adhere to and affirm to comply with the Code of Conduct prescri'ed 'y the Insurance ;e ulatory and Aevelopment #uthority "Licensin of Insurance # ents% ;e ulations! 7666! as amended from time to time "hereinafter a'le to achieve the
referred to as the VCode of ConductW% as thou h the said Code of Conduct has 'een e&plicitly set out in and forms part of this # reement. 8.7- The Insurance #dvisor shall not allow or offer to allow! either directly or indirectly! as an inducement! to a prospect or a policyholder! to take out or renew or continue a policy! any re'ate of the premium paya'le under the Policy or of the commission paya'le to him( nor shall he offer any other rates! advanta es! terms or conditions than those offered 'y BSLI. The Insurance #dvisor specifically confirms his awareness of and continued adherence to the provisions of Section D3 of the Insurance #ct! 34?5. Breach of this clause will entitle BSLI to terminate this # reement forth with and without any notice. 8.?- The Insurance #dvisor a rees and undertakes to a'ide 'y the followin conditionsJ 8.? a- The Insurance #dvisors shall not to o'tain O seek O provide O ive undue favors or raft from O to any employee of BSLI or any co-advisor or any person! customer or policyholder of BSLI. 8.? '- The Insurance #dvisors shall not accept O ive ift of su'stantial value " reater than ;s 3!666 or such amounts as BSLI may specify % from O to any employee of BSLI or any co-advisor or any person! customer or policyholder of BSLI in connection with any matter or dealin concernin BSLI 8.? c- The Insurance #dvisor shall operate with values and standards 'efittin the standin of BSLI. 8.D- In the event of violation of Code of Conduct or any of the uidelines O operatin instructions of the Company or on happenin of any act of commission or omission which constitutes a malpractice! BSLI shall 'e entitled! without pre1udice to its ri ht of termination of this # reement! to warn the Insurance #dvisor or re.uire it to take any steps or do any act in rectification of any such act! and Insurance #dvisor a rees to act in accordance with any such communication.
8.8- The Insurance #dvisor shall 'e responsi'le for the accuracy! truthfulness and completeness of the information furnished in the # ent0s Confidential ;eport in proposal forms lo availa'le to BSLI in respect of any proposal. 8.9- The Insurance #dvisor shall! promptly and in any case not later than the time stipulated 'y BSLI in that 'ehalf transmit to the concerned office of BSLI all proposals for insurance and all other documents procured or received 'y or called for from him. This would include 'ut shall not 'e restricted to customer0s O policyholder0s proposal forms! supportin or other documents! information! payment instruments! letters O communications addressed to BSLI and documents relatin to assi nment O nomination! Insurance #dvisor shall ensure compliance with Section 9D LB of the #ct. 8.@- The Insurance #dvisor shall not and is not authorized to accept any money! in case from any prospect O customer O policyholder. ,here any such person wishes or proposes to make any payment in cash! the Insurance #dvisor shall direct him to the appropriate office of BSLI for makin such payment personally or advise him of the permissi'le modes of payment to BSLI. Insurance #dvisor can accept che.ue! demand draft or other payment instruments "not 'ein a 'earer che.ue% from a prospect or a policyholder if and only if they are drawn in the name of BSLI. ,ithout pre1udice to the other provisions of this # reement providin for indemnification to BSLI 'y the Insurance #dvisor! the Insurance #dvisor specifically confirms and undertakes to hold BSLI safe! harmless and indemnified at any time and at all times a ainst any demand! claim ! action or proceedin arisin from any 'reach! whether intended or not! of the provision of this clause. The Insurance #dvisor further confirms that where he accepts any cash in 'reach of this clause! he shall 'e actin an a ent of the customer O policyholder till the time the cash in deposited 'y him with BSLI! and will continue to 'e ed 'y him or otherwise made
such a ent till he continues to hold any cash accepted from such customer O policyholder. 8.5- The Insurance #dvisor shall attend all meetin s! workshops! trainin s and 'riefin s conducted 'y or on 'ehalf of BSLI to create O enhance awareness as to the Insurance Products! 'usiness plans and policies of BSLI and any other matter of relevance to them of which reasona'le notice has 'een iven to the insurance advisor. In particular the Insurance #dvisor shall attend all trainin and refresher sessions for Insurance #dvisors unless prevented 'y a cause! which in the opinion of BSLI is reasona'le. 8.4- ,here the Insurance #dvisor intends to 'rin out or pu'lish any material in any form throu h any medium! concernin BSLI! its 'usiness or its Insurance Products! the Insurance #dvisor shall o'tain prior written approval of BSLI. )urther! he shall o'serve! follow and comply with the provisions of the Insurance ;e ulatory and Aevelopment #uthority "Insurance #dvertisements and Aisclosure% ;e ulations! 7666 of the same. 8.36- The Insurance #dvisor shall solicit and procure life insurance 'usiness for BSLI and dischar e his o'li ations under this # reement in accordance with BSLI0s corporate o'1ectives and with particular re ard to BSLI0s ima e and standin in the industry and in the community. 8.33- The Insurance #dvisor shall o'serve! follow and comply with all the communication! directions and instructions iven 'y BSLI from to time! either enerally or with particular reference to the Insurance #dvisor. Such communications! directions and instructions may 'e sent 'y courier! email! post! and fa& or may 'e posted on the ;estricted ,e'site #rea. 8.37- The Insurance #dvisor shall familiarize himself with the #pplication Law as in force time to time and which has a 'earin on the dischar e of his o'li ations as an insurance a ent( provided that in the event of any chan e in the #pplica'le Law resultin in a dilution or a'ro ation of his o'li ations under this # reement! to the e&tent not provided otherwise! the
Insurance #dvisor shall continue to 'e 'ound 'y the o'li ations as were e&istent prior to such chan e! unless e&pressly approved in writin 'y BSLI! or unless inconsistent with #pplica'le Law. 8.3?- The Insurance #dvisor shall not solicit or procure life insurance 'usiness for or promote the sales or distri'ution of the Insurance Products of any other Insurance company or seek or o'tain or commence any employment in any other life insurance company so lon as this # reement is in force and for a period of si& months after its termination. BSLI may however in writin waive the conditions under this su' clause. 8.3D- The Company will 'e entitled to levy char es of deduct them from amounts paya'le to the Insurance #dvisor as it may deem fit in respect to any of the services provided 'y the Company to the Insurance #dvisor. =- "ompensation and !emuneration/ 9.3- #s compensation and remuneration for the due performance of his o'li ations under this # reement! the Insurance #dvisor shall 'e paid commission at such rates as may 'e notified 'y BSLI to the Insurance #dvisor from time! su'1ect to deduction of applica'le ta&es under the law in force from time to time in respect of policies effected throu h the insurance #dvisor( provided that the Insurance #dvisor may 'e paid commission for effectin the revival of lapsed policies su'1ect to the provision of Su'section"7#% of Section D6 of the #ct. The Insurance #dvisor a rees to provide his income ta& P#E num'er! or if ac.uired su'se.uently! immediately after the same has 'een so ac.uired. In the event of failure to provide P#E num'er! the Company will 'e entitled to 'lock the payments of the Insurance #dvisor. 9.7- BSLI shall 'e entitled to deduct the service ta& "or any similar ta&! in lieu of or in addition to service ta&%! includin any cess! surchar e or similar ta& thereon! from the commissions or any other amounts paya'le to the
Insurance #dvisor. =owever! in 'est commercial interests BSLI may decide to recover only a part of such ta&es and 'ear the rest. 9.?- BSLIshall 'e entitled to revise "upwards or downwards% the rates of commission! as in force from time to time! 'y notice in writin to the Insurance #dvisor in any one of the followin manner. 9.? a- 'y a written notice to the Insurance #dvisor( or 9.? '- 'y postin the revised rates on the ;estricted ,e'site #rea( or 9.? c- providin copies of the revision to all the offices! 'ranches! outlets or franchisees of BSLI. 9.D- The Insurance #dvisor shall 'e deemed to have notice of the revised commission rates at the earliest of "a% on receipt of the written notice as per "a% a'ove( or "'% pu'lication or postin on the ;estricted ,e'site #rea as per clause "'% a'ove( or "c% copies of such revision 'ein made availa'le to BSLI office! 'ranch! outlet or franchise nearest to the address of the Insurance #dvisor as per clause "c% a'ove. 9.8- BSLI shall 'e entitled to specify "and revise% differential commission rates for different Insurance Products and 'ased on various parameters includin new 'usiness premiums! renewal premiums! 'usiness done 'y Insurance #dvisor etc. 9.9- In case of any e&cess or wron payment of commission or any amount to the Insurance #dvisor or any commission or any amount which su'se.uent to their payment 'ecomes recovera'le or receiva'le from the Insurance #dvisor for any reason whatsoever! BSLI shall 'e entitled to ad1ust such amounts "which have 'een paid in e&cess or wron ly or have to 'e received O recovered 'ack % in the su'se.uent payment"s% to the Insurance #dvisor! #lternatively! or where no amounts are due to the Insurance #dvisor! BSLI will re.uire the Insurance #dvisor to repay or refund forthwith such amounts! and thereafter the Insurance #dvisor shall repay the
amount within 38 days after the receipt of any communication from BSLI in that re ard. 9.@- The payment of commission to the Insurance #dvisor after the termination or cessation of this # reement or payment of commission to the le al heirs of a deceased Insurance #dviser shall 'e as provided in the #pplica'le Law and in accordance with such other communications or uidelines of BSLI as may 'e specified in this 'ehalf. 9.5- Eotwithstandin the a'ove! BSLI shall not 'e o'li ed to pay any commission or remuneration to the Insurance #dvisor if the termination is on account of fraud or any criminal conduct or serious violation of #pplica'le Law. >- &iscellaneous provisions/ @.3- #ll forms! applications! documents! properties or securities received 'y the Insurance #dvisor for or on 'ehalf of BSLI shall 'e held 'y him in trust for BSLI! and shall 'e promptly handed over to BSLI. 2pon termination or cessation of this # reement the Insurance #dvisor shall promptly deliver O return! to BSLI in ood condition all forms! application! documents! properties or securities and all sales literature! manuals and computer software received from or for or on 'ehalf to or provided 'y BSLI In the event of failure of the Insurance #dvisor to do so! BSLI shall 'e entitled to inform a'out such failure to I;A#! to or anizations with which the Insurance #dvisor has employment or to his 'usiness associates includin any insurance company of which the Insurance #dvisor 'ecomes or proposes to 'ecome the insurance advisor! and further I BSLI will not furnish the E/C to the Insurance #dvisor till such time the failure continues. @.7- The Insurance #dvisor shall indemnify and keep indemnified and save harmless at all times BSLI in respect of any inde'tedness cast on BSLI or in respect or any claim! loss or dama e or any action or proceedin of
whatever nature or for any notices or e&penses arisin out of or caused 'y any act of omission of the Insurance #dvisor in relation to any matter specified in this # reement or 'reach of any provisions under this # reement failin which BSLI may! without pre1udice to any other ri ht or remedy availa'le to it under law! recover such de't! claim! loss! dama e or e&penses from any money due and paya'le to the Insurance #dvisor. @.?- The Insurance #dvisor shall allow officers of BSLI "includin its auditors and advisors%! authorized in writin 'y BSLI ! to inspect and make copies of all O any records maintained 'y the Insurance #dvisor in relation to any su'1ect matter under this # reement. ?- "onfidentialit+/ 5.3- #ll records! information and documents pertainin to BSLI or any of its customers O prospect O policyholder! includin any personal data o'tained from or for on 'ehalf of or provided for BSLI and the contents of this # reement will constitute Confidential Information. )or the purpose of this clauses! any data! information or knowled e will also constitute Confidential information which is not in pu'lic knowled e and whether or not marked or identified as confidential and which is disclosed 'y BSLI to the Insurance #dvisor and whether written! oral or in any other form "includin without limitation! computer stora e! tape or other electronic media forum%. 5.7- The Insurance #dvisor undertakes and a resses not to disclose! directly or indirectly! and in any manner what so ever! whether durin the currency of this # reement or any time thereafter Confidential Information. =owever! such o'li ation of confidentiality will not apply in one or more of the followin J 5.7 a- if and to the e&tent the disclosure is re.uired 'y any law or any court! overnment a ency or re ulatory authority(
5.7 '- if the information is or 'ecomes availa'le to pu'lic "other than as a result of prior unauthorized disclosure 'y the Insurance #dvisor%( 5.7 c- if the information is or was received from a third party not known 'y the Insurance #dvisor to 'e under a confidentiality o'li ation with re ard to such information( or 5.? d- if the Insurance #dvisor is a'le to prove that the was lawfully in possession of the information "havin 'een received on a non-confidential 'asis% 5.?- The Insurance #dvisor a ress not to disclose or provide copies of any such materials! documents and other information! which are meant for internal circulation only! to any third parties. @- Intellectual #ropert+ !i2hts/ 4.3- The intellectual property ri hts "in the nature of trademark or copyri ht or any other ri ht% in the 'rand name ! product names! lo os! desi ns! colour schemes! names! marks! desi ns! drawin s! colour! artistic work O manner etc "hereafter collectively referred to as VmarksW% as may 'e allowed 'y BSLI to 'e used 'y the Insurance #dvisor shall vest solely and e&clusively and at all times in BSLI and the Insurance #dvisor a ress and undertakes not to set up an adverse claim in respect to the Marks at any time either durin the currency of this # reement or at any time thereafter. The Insurance #dvisor also a rees and undertakes that it shall not allow the usa e of Marks 'y any other third party. 4.7- The Insurance #dvisor is permitted to use only such Marks in the course of providin services under this # reement as a reed to 'y BSLI in writin . ,here any such permission is iven for use of any Marks "one or more%! such permission will operate as a limited! revoca'le and none&clusive permission for usa e of such Marks and shall 'e su'1ect to conditions and restrictions as may 'e specified. The permissions ranted or to 'e ranted will not include the permission O ri ht! copy! modify! mer e! or
transfer the Marks or any of them. The Insurance #dvisor a rees and undertakes no to alter or modify any Marks or add any content to the Marks. =e further a rees not to remove! conceal or o'literate any copyri ht! creditline! date-line or other proprietary notice included in any document! material! or other of BSLI . #ny oodwill enerated throu h the Insurance #dvisor0s use of the Marks shall inure solely to the 'enefit of BSLI. 3A- Usa2e of !estricted .e*site Area/ 36.3- The Insurance #dvisor understands that BSLI provides certain information specific to insurance advisors on the ;estricted ,e'site #rea. BSLI will provide! 'ut without any o'li ation! such lo in IA to the Insurance #dvisor to access contents specific to the Insurance #dvisor. The Insurance #dvisor a rees that they shall 'e fully responsi'le for any action taken throu h the ;estricted ,e'site #rea 'y usin his lo in IA and password. In the event there is any unauthorized usa e or access noticed 'y the Insurance #dvisor! he shall immediately 'rin the same to the notice of BSLI . It is clarified that BSLI will not 'e o'li ed to provide or pay for the cost of any internet connectivity! hardware and software that the Insurance #dvisor may re.uire for access to the ,e'site or ;estricted ,e'site #rea. The Insurance #dvisor further a rees! confirms and undertakes not to use the ,e'site for any purpose other than the permitted purpose! and not permit any other person to access the ;estricted ,e'site #rea throu h his lo in IA and password. 33- Term and Termination/ 33.3- This # reement shall come into effect from the $ffective Aate and shall continue to 'e effective unless terminated in accordance with the provisions provided herein. 33.7- This # reement shall terminateJ 33.7.a- immediately and without any notice on the death of the Insurance #dvisorJ
33.7.'- immediately and without any notice on the presentation of a petition for the ad1udication of the Insurance #dvisor as insolventJ 33.7.c- forthwith 'y a written notice on any violation 'y the Insurance #dvisor of any provision of the #pplication Law( or 33.7.d- forthwith 'y a written notice on the Insurance #dvisor where he incurs any of the dis.ualifications mentioned in clauses"'%! "c% or "d% of Su'section "D% of Section D7 of the #ct! whether or not his license to act as an insurance a ent is cancelled. 33.7.e- forthwith 'y a written notice where it is found that the Insurance #dvisor has "i% sou ht O o'tained employment or insurance a ency of any other life insurance Company "ii% indul ed in any act of commission or omission in consonance with the direct competitors of BSLI. 33.?- This # reement shall terminate on the e&piry of 38 days notice served 'y BSLI on the Insurance #dvisor if he33.?.afails to dischar e the o'li ations under this # reement to the satisfaction of BSLI! or commits 'reach of any of the provisions of this # reement and does not remedy the same within @ days of a notice to that effect from BSLI. Eo notice of remedyin a 'reach will 'e iven if it is not capa'le of 'ein remedied. 33.?.'acts in a manner pre1udicial to the interests of BSLIor to the interests or its Policyholders. ,ithout pre1udice to the enerality of the fore oin the Insurance #dvisor shall 'e deemed to have acted in a manner pre1udicial to the interests of BSLI ! if any averment in the # ent0s Confidential ;eport or in any document su'mitted 'y him in connection with a proposal for insurance or application for reinstatement of a Policy is found to 'e incorrect or untrue. 33.?.c- is found to have made any false or incorrect averment or suppressed any information! considered material 'y BSLI! in his application for appointment as Insurance #dvisor(
33.?.d-
in the opinion of BSLI! 'ecomes physically or mentally
incapacitated to dischar e the o'li ations under this # reement( 33.?.e- he fails to achieve the Minimum Performance ;e.uirements or Minimum Service Standards as specified from time to time. 33.D- Eotwithstandin anythin contained in this # reement! 'oth parties shall have at all times ri ht to terminate this # reement 'y written notice to the other of 38 days without assi nin any reason for such termination. 33.8- 2pon termination of this # reement in whatsoever manner BSLI shall 'e entitled to pu'lish notices in newspapers and O or in any other media and O or to dispatch correspondence notifyin the policyholders! customers! 'ranch offices! franchisees! other insurance advisors and the eneral pu'lic of the termination of the a ency of the Insurance #dvisor and he 'ein no more authorized to solicit or procure life insurance 'usiness for BSLI or to represent BSLI in any manner. )urther! upon such termination! BSLI shall also 'e entitled to forthwith stop O suspend payment of any commission whether or not due in respect of any 'usiness done 'y the Insurance #dvisor. Save as provided in the Insurance #ct! no commission shall accrue to the Insurance #dvisor from the termination of this # reement. 37The Insurance #dvisor shall not 'e entitled to assi n his ri hts and in this o'li ations hereunder to any person whomsoever. Eothin
# reement shall prohi'it BSLI0 sentitlement to assi n the # reement and O or any of its ri hts and o'li ations hereunder to any person whomsoever.
!esearch &ethodolo2+
,hile makin
a study we very often look for what type of research
methodolo y is to 'e used in this type of study. )or implementation of a proper research methodolo y we have to first understand the meanin of research. ;esearch is a process with the help of which new concepts arises. It is the increase in the actual knowled e stock. It can 'e called as movement from known to unknown and vice-versa. It is also a continuous process. It is a scientific as well as systematic process! which includes definin and redefinin the pro'lem to develop hypothesis! to collect and define the informationOdata! to analysis the information and 'rin out the mother of Aiscovery. #n individual makes the effort in research and society or pu'lic takes its 'enefits 'ecause the results are usually eneralized. Data collection The word data means any raw information! which is either .uantitative or .ualitative in nature! which is of practical or theoretical use. The task of data collection 'e ins after a research pro'lem has 'een defined and research desi n chalked out. ,hile decidin data primary and secondary. #rimar+ data/ 1 This is those! which are collected afresh and for the first Time! and thus happen to 'e ori inal in character. There are many ways of data collection of primary data like o'servation method! interview method! throu h schedules! pantry ;eports! distri'utors audit! consumer panel etc. The Team Mana ers and employees of 'oth the Aepartment were consulted to et information a'out procedure of 'oth the online and off line share tradin . But the method used 'y us for the primary data collection was throu h .uestionnaires. a'out the method of data collection! the researcher should keep in mind that there are two types of
%uestionnaire method )or the collection of primary data I used .uestionnaire method. # formal list of .uestions! which are to 'e asked! is prepared in a .uestionnaire and .uestions are asked on those 'ases. There are some merits and demerits of this method. These as underJ MeritsJ 3. Low cost even when universe is lar e. 7. It is free from 'ias of interviewer. ?. ;espondents have proper time to answer. D. ;espondents who are not easily approacha'le can also 'e reacha'le. 8. Lar e samples can 'e made. 9- Secondar+ data/ 1 These are those data! which are not collected afresh and are used earlier also and thus they cannot 'e considered as ori inal in character. There are many ways of data collection of secondary data like pu'lications of the state and central ovt.! reports prepared 'y researchers! reports of various associations connected with 'usiness! Industries! 'anks etc. #nd the method! which was used 'y us! was with the help of reports of the company. Sample Si7e ,e have meet 786 peoples durin re.uirement #dvisor and policy sellin after that I have taken 78 Peoples they have fill up the .uestionnaire and iven response .
%ues- .hich Birla Sun Life Scheme does +ou haveF
No of Peoples Have BSLI Plan
Health, 10% Retierment , 22% Health Retierment Life Life, 68%
Inference /n the 'asis of a'ove analysis it has 'een concluded that around 95H of the policy holders are havin life plan! 77H of them are havin ;etirement plan and rest of them are havin the health plan.
%uestion- Are +ou satisfied with the Insurance plan +ou haveF
No. of people satisfied with the plan
28% Yes No 72%
Inference /n the 'asis of the analysis it has 'een concluded that around @7Hof the people are satisfied with plan they and rest if them are not satisfied.
%ues- Are +ou satisfied with the services provided *+ the compan+ re2ardin2 new plans and schemesF
No. of people satisfied with the services provided by the company

18% Yes No 82%
Inference /n the 'asis of the a'ove analysis it has 'een concluded that around 57H of the policy holders are satisfied with the services provided 'y the company and rest of them are not satisfied.
%ues- Are +ou interested to ma)e more investments in BSLI F
No. of Peoples want to more investment in BSLI
33% Yes No 67%
Inference /n the 'asis of the a'ove analysis it has 'een concluded that around 9@H of the policyholders are interested to make more investments in BSLI and rest of them are not interested.
%ues- (ave +ou an+ other Insurance #lan apart from BSLIF
No. of Peoples have other Insurance Plan apart from BSLI?
22%
Yes No
78%
8% 11% 9%
12%
LIC B LI B!"!" !LIY!N# 60% ICICI $thers
Inference )rom the a'ove analysis it has 'een concluded that around 54H of policy holders are havin other insurance plans apart from BSLI ! in which around 96 H are havin LIC insurance plans! 33H are havin Ba1a1 #llianz! 4H are havin Birla Sunlife! 5H are havin ICICI Pru. and 37H are havin other company insurance plans.
%ues- If +ou 2et an+ attractive plan than are +ou read+ to switch overF
People ready to switch to attractive Schemes if offered by other companies

18% Yes No 82%
Inference /n the 'asis of the a'ove analysis it has 'een concluded that around 57H of the policy holders are ready to switch over if they et ood attractive insurance plan and rest of them don0t.
)IEAIE<S #B/2T T=$ S$L$CTI/ES /) E$, #ALIS/;
Findin2s Q 3
Male s !emale "espondence

27%
%ale &emale
73%
Findin2s Q 9
Marital Status of "espondent
39% 61%
%arrie' (nmarrie'
Findin2s Q :
#$e of "espondent 18% 27% 2% )3%
Less 2)
2)*3)
3)*+)
!,o-e ))
Findin2s Q ;
%ualification &f "espondent 16%
27%
)7% 12th .ra'/ation 0ost .ra'/ation
Findin2s Q <
'ependent &f "espondent

1)% 23%
62%
None
12o
!,o-e 12o
Findin2s Q ?
#nnual !amily Income of "espondence

17% 7% 23%
)3% Less 100000 200000*+00000 100000*200000 !,o-e +00000
Findin2s Q 3A
Interest In ()tra (arnin$
2+%
76%
Yes
No
A ALYSIS
Findin213 shows the difference 'etween the male K female respondent who are selected as a new advisor the male dominant over female. There is a 'i female advisor. Findin2 L9 shows the martial status of new advisors. /ut of 366 advisors selected 93 are one married which is a ood si n 'ecause they are much more aware insurance and ?4 unmarried. Findin21: shows the a e roup of selected advisors are .uiet ood difference 'etween the male K
encoura in . 8? H are over a e of 88 years which is .uite than the other a e roup. Findin21; shows most of the selected advisors have a .ualification. Most of them are raduate and post raduate.
for company 'ecause they much more trusted 'y the prospect
ood
Findin21< shows! 'ecause 93H advisors are married so the dependent person on them are same. Findin21= shows most of the new advisors are en a ed in different fields. Some are ovt. employee! some are en a ed in private service and some have their own 'usiness. Findin21> #ll most 86H of the new advisors towards their new profession. ive full time to
their profession. This shows how new advisors are dedicated
Findin21? Most of the new advisors have a very are over 36!666 which is very encoura ement Findin21@ Most of the new advisors 'elon or anization. The percent of 1oinin 1ust 77H.
ood family
support. The annual family income of most of the new advisors
to a middle income
roup so they are not in a position to 1oin any clu' or social such clu' or or anization is
Findin213A shows selection is advisors in 'ase on commission 'asis so there is always a 'i workin possi'ility of e&tra income. =ard et advisors can earn more then e&pectation! 'ecause their
is no limit of earnin . If a advisors sell more policy he can more commission so there know limitation on earnin s. .
"O "LUSIO
The market potential for private insurance companies is found to 'e reater in the lon run as most of the Indians are of the opinion that! private insurance companies would 'e a'le to perform well in the future. The private and forei n insurance companies have to take immediate steps in appointin more num'er of a ents andOor advisors in addition to the employees as it has 'een found out that a ents are the 'est channel to reach the eneral pu'lic re ardin sellin of insurance products. The private and forei n insurance companies have to concentrate on the factors like +Prevention of Loss+! +#ssured ;eturns+ and +Lon term Investment+. They can also focus on an insurance amount of ;s. 3 P 7 lakhs with +money 'ack policies+. =ence! the market has potential. The private and forei n insurance companies that are takin immediate steps can tap it easily K rapidly.
SU,,ESTIO S
3% $ven thou h most of the policy holders are satisfied with policies! plans they have 'ut some new attractive insurance plans should 'e introduce to 'ind them not to switch over to other companies insurance plans. 7% The company should find out the no. of people who are not havin any of the insurance plans throu h an intensive market research and motivate them to et insured. ?% Levera in technolo y to service customers .uickly! efficiently and conveniently. D% Aevelopin and implementin superior risk mana ement and investment strate ies to offer sustaina'le and sta'le returns to our policyholders. 8% 9% Company should tar et each and every class of the society Company should provide full information to the customers 'efore tar etin so they can take interest
LI&ITATIO S
Some of the respondents were not cooperative. Some respondents were hesitatin to ive 'usiness details. Biasness is another limitation that the scope of the survey. The relia'ility and scope of survey reatly relies on the cooperation of the respondents.
BIBIOLIO,!A#(Y
www.BirlaSunlife.com www. irda. ov. in Birlasunlife Eew #dvisor Book www. oo le.com
%uestionnaire
ame/------------------------------Occupation/MMMMMMM-A2e/MMMMM--
%ues-3 .hich Birla Sun Life Scheme does +ou haveF DaE Life D*E !etirement DcE (ealth
%ues-9 Are +ou satisfied with the Insurance plan +ou haveF DaE Yes D*E o
%ues-: .hat attract +ou towards Birla Sun Life #lansF DaE D*E DcE DdE %ues-; Are +ou satisfied with the services provided *+ the compan+ re2ardin2 new plans and schemesF DaE Yes D*E o
%ues-< Are +ou interested to ma)e more investments inBirla Sun Life F DaE Yes D*E o
%ues-= (ave +ou an+ other Insurance #lan apart from Birla Sun LifeF DaE Yes D*E o
%ues-> If +esC then of which Life Insurance "ompan+F
DaE LI" DcE Birla Sunlife DeE Others
D*E Ba5a5 Allian7 DdE !eliance
%ues-? If +ou 2et an+ attractive plan than are +ou read+ to switch overF DaE Yes D*E o
Su22estions/ MMMMMMMMMMMMMMMMMMMMMMMMMMMMM MMMMMMMMMMMMMMMMMMMMMMMMMMMMM MMMMMMMMMMMMMMMMMMMMMMMMMMMMM MMMMMMMMMMMMMMMMMMMMMMMMMMMMM MMMMMMMMMMMMMMMMMMMMMMMMMMMMM
FO!& I!DA1A,E TS1'A (See Regulation 3) Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2 A##LI"ATIO A,E T FO! A LI"E "E B !E E.AL OF LI"E "E TO A"T AS A !
I SU!A "E
T/ T=$ IES2;#EC$ ;$<2L#T/;G #EA A$L$L/PM$ET #2T=/;ITG! A$P#;TM$ET /) LIC$ESIE<! E$, A$L=I. A$#; SI;S! I re.uest that --"a% a license to act as an insurance a entN O a composite insurance a entN may 'e ranted to me. "'% Nmy license 'earin num'er XXXXXXXXXXXXXXXXXXXX and e&piry dateXXXXXXXXXXXXX may 'e renewed for a further period of three years. 7. I here'y declare that particulars iven 'elow are true and that the license for which I apply will 'e used only 'y myself for solicitin or procurin insurance 'usiness for one life insurerN O one eneral insurerN O 'othN. "3% EameJ "7% )ather+sO=us'and+s Eame "?% )ull #ddressJ =ouse Eo. J StreetJ TownJ AistrictJ J State J J Pin CodeJJ Telephone Eo. "STA Code -- Eum'er%J "D% Aate of BirthJ Aay- Month-Gear "8% TitleJ State 3 if are Mr.! 7 Mrs.! ? MissJ Y Y Y Y Y Y Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Z---Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
ZY ZY ZY ZY
Z Z Z Z
ZY ZY ZY ZY ZY ZY ZY Z
Y ZY Z-Y Z Y Z-Y ZY ZY ZY Z Y Z
"9% If you ever held a Licence! state Eo. and date of e&piry! otherwise say BEilB. "a% Licence Eum'erJ "'% Aate of $&piryJ Aay- Month-Gear Y ZY ZY ZY Z Y ZY ZY ZY Z Y Z Y Z Y ZY Z-Y Z Y Z-Y ZY ZY ZY Z Y Z Y Z
"@% If you apply for licence to work for a life insurer! State 3! for a eneral insurer! state 7! for 'oth state ? in the 'o&. "5% If you are an applicant from a rural place! State 3! in the 'o&. "4% $ducational Tualifications. State 3! if you passed Class F ( 7J Class FII( ?J <raduate(
DJ Post- raduate( 8J if you hold a professional .ualification such as #C#! )#SI! #IC,#.%J
Y Z
"36% <ive particulars of pass in pre-recruitment test conducted 'y the Insurance Institute of India or any e&amination 'odyJ "a% Eame of $&amination BodyJ "'% Candidate+s Eum'erJ "c% Centre of $&aminationJ "d% Aate of Passin J "Aay- Month-Gear% Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY Z-Y ZY Z-Y ZY ZY ZY Z
"33% <ive particulars of Practical Trainin completed from an approved institution. "a% Trainin =ours completedJ "'% Eame of Trainin InstituteJ "c% Candidate+s Eum'erJ "d% Centre "Place% of Trainin J "e% Startin Aate of Trainin J "Aay- Month-Gear% ?. I further declare that---"a% I have not 'een found to 'e of unsound mind 'y a court of competent 1urisdiction( "'% I have not 'een found uilty of criminal misappropriation or criminal 'reach of trust or cheatin or for ery or an a'etment of or attempt to commit any such offence 'y a court of competent 1urisdiction( "c% I have not 'een found uilty of or to have knowin ly participated in or connived at any fraud! dishonestly or mis-representation a ainst an insurer or an insured in the course of any 1udicial proceedin relatin to any policy of insurance or the windin up of an insurance company or in the course of an investi ation of the affairs of an insurer( and "d% MI have not violated the code of conduct specified under ;e ulation 5 of Insurance ;e ulatory and Aevelopment #uthority "Licensin of Insurance # ents% ;e ulations! 7666. D. I have made the payment of licence fee of rupees two hundred and fifty and for which I enclose the documentary evidence. 8. I enclose the followin documents in support of the educational .ualification! pre-recruitment test! and the practical trainin . "a% XXXXXXXXXXXXXXXXXXXXXX "'%XXXXXXXXXXXXXXXXXXXXXXXXX Place Gours faithfully! Y ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY ZY Z Y ZY Z-Y ZY Z-Y ZY ZY ZY Z
AateJ Si nature of applicant "N Strike out portion not re.uired.% "M Eot applica'le to the applicants seekin license for the first time.%
otes and Instructions 3. 7. ?. D. 8. #n individual can apply for only one licence which will entitle him to solicit or procure insurance 'usiness of any class and to act as an insurance a ent for one life insurer! one eneral insurer! or 'oth. The application should 'e filled in! as far as possi'le! in =indi lan ua e or $n lish lan ua e. #ny correction or alteration made in any answer to the .uestions in the application should 'e initialled 'y the applicant. #n applicant must 'e at least 35 years of a e on the date of the application. If re.uired the applicant shall furnish proof of a e. #n applicant shall furnish the proof of educational .ualification! pass in the pre-recruitment test conducted 'y the Insurance Institute of India! Mum'ai or an e&amination 'ody approved 'y the Insurance ;e ulatory and Aevelopment #uthority! and completion of practical trainin from a trainin institution approved 'y the Insurance ;e ulatory and Aevelopment #uthority! alon with the application. This is not applica'le where the applicant is an a'sor'ed a ent. The fees paya'le 'y an applicant is rupees two hundred and fifty. The name and the licence Eo. iven in the application are identical with those shown in the last licence held. If there is any su'se.uent chan e in the name! the reasons for the same should 'e stated furnishin documentary evidence for the same. The application should reach the desi nated person 'efore the e&piry of licence held 'y the applicant 'ut not more than three months 'efore such e&piry. If the application does not reach the desi nated person at least ?6 days 'efore the date on which the last licence ceases to 'e in force! an additional fee of one hundred rupees should 'e paya'le. In this connection please also refer to the provisions of su'sections "?% and "?#% of section D7 of the Insurance #ct! 34?5. If the applicant desires to work for a life insurer or a eneral insurer or 'oth! as the case may 'e! he should enclose the documentary evidence of the relevant pass in the pre-recruitment test and the completion of the relevant practical trainin .
9. @.
5.
4.

Summer Training Project On BIRLA SUNLIFE

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OBJECTIVE

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

I T!ODU"TIO Life Insurance

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

a diverse ran e of wealth accumulation and

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

adverse effect later on the market share of the company.

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

4EY #EO#LES OF O!,A ISATIO

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

&r- !a5esh Bho5ani Senior Lice President AS) $&pansion

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

)le&i Secure Life ;etirement Plan II

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

@- 4e+man #lans 3A- !iders

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

ive you the 'enefits of

protection and the opportunity to save for important assets or

with the death or maturity

Aisa'ility Benefit ;ider ! ,aiver of Premium ;ider and

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

uaranteed value of the unit fund is the value of all with

Aisa'ility Benefit ;ider! ,aiver of Premium ;ider and Critical

Premier Life P The Preferred plan for the Preferred

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

#dd-on riders to protect you a ainst any eventuality.

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

Investment/ Choose from amon four funds! 'ased on your investment

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

#n insurance plan that

ives added protection! savin s and

#n insurance plan that

ives you added protection! savin s!

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

The fle&i'ility of receivin

your maturity proceeds as a lump up to 36H of the accumulated

receives the full sum assured! the the vested 'onuses.

uaranteed additions and

Death Benefit/ The 'eneficiary receives the sum assured! the

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

;ider ! Ma1or Sur ical #ssistance ;ider ! #ccident K Aisa'ility

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!

All these plans offer +ou/

loved ones stay financially secure! even in your a'sence.

family is not financially 'urdened in your a'sence.

policy continue! ensurin

that your child can realize his or uarantees re ular

her dreams without any hassles.

DETAILD STUDY OF I SU!A "E #OLI"Y $ !E%UI!&E T OF AD'ISO!