'Product of the Year 2010'

HDFC Standard Lifes YoungStar Super has been votedProduct of the Year 2010
in the ' Insurance' category bym o r e t h a n 3 0 , 0 0 0 c o n s u m e r s
n a t i o n w i d e a c r o s s 3 6 markets. YoungStar Super is an unit linked Children
Plan5


with unique benefits such as bumper additions, double and triple benefits,
attractiveallocations rates, and seven different funds.The consumer study on product
innovation in India was conducted by A C Nielsen, thel eadi ng gl obal r es ear ch
f i r m. Ent r i es wer e accept ed f r om pr oduct s t hat demons t r at e innovation in their
product function, design, packaging or process or any other specifiedform. Entries were then
filtered by a jury of distinguished industry professionals to ensurethat the products meet the
innovation criteria before they were passed on to the consumer votes/survey round. Product
of the Year is an Internationally Recognized Standard that cel ebr at es and r ewar ds
t he bes t i nnovat i ons i n cons umer pr oduct s and s er vi ces . ThePr oduct of t he
Year i s s el ect ed t hr ough an i ndependent cons umer s ur vey acr os s t he country
in 26 countries for the past 20 years.
Year 2009Received CIO 'The Ingenius 100 2009' Award
H D F C S t a n d a r d L i f e h a s r e c e i v e d t h e C I O T h e I ngeni ous 100 -
2009 Awar d, f or ATLAS ( AgencyT r a i n i n g L i c e n s i n g a n d
S e r v i c i n g S y s t e m ) . Additionally, the company has received the CIO
100 S e c u r i t y Awa r d 2 0 0 9 f o r p i o n e e r i n g
LANDe s k M a n a g e m e n t a n d S e c u r i t y S u i t e
s e c u r i t y implementation and taking its security to a higher level of technological
excellence.HDFC Standard has received the CIO 100 Award for the third consecutive
year. It hadreceived the 2008 CIO Bold Award for Consultant Corner and CIO
Security Award for our i ni t i at i ves f or a s ecur e comput i ng envi r onment ,
i ncl udi ng Ses ame - I dent i t y andAccess Management. In 2007, the company
received CIO 100 award for Wonders and aSpecial Award in Storage category.CI O
magaz i ne has a l ong t r adi t i on of honor i ng l eadi ng compani es f or
bus i nes s andtechnology leadership and innovations through its flagship award
program CIO 100.6


Its a celebration of 100 organizations (and the people within them) that are using
IT ininnovative ways to deliver business value, whether by creating competitive
advantage,opt i mi zi ng bus i nes s pr oces s es , enabl i ng gr owt h or i mpr ovi ng
r el at i ons hi ps wi t hcustomers.
Received Diamond EDGE Award 2009
HDFC St andar d Li f e has r ecei ved t he Di amond EDGEAward 2009 for its
mobile workforce portal - ConsultantC o r n e r . E D G E - E n t e r p r i s e s
D r i v i n g G r o w t h a n d E x c e l l e n c e ( u s i n g I T ) i s a n i n i t i a t i v e b y
t h e ,
Network Computing
magaz i ne t o i dent i f y, r ecogni s e, and honour end-user companies in India that
have demonstrated the best use of technology to solve a business problem, improve business
competitiveness,and deliver quantifiable ROI to stakeholders. Network Computing magazine is
part of CMP Technology, which brings more than 100I T medi a br ands t o mor e t han 18
mi l l i on t echnol ogy and bus i nes s deci s i on maker s worldwide.
Business Strengths & Key Differentiators
HDFC St andar d Li f e bel i eves t hat es t abl i s hi ng a s t r ong and et hi cal
f oundat i on i s ane s s e n t i a l p r e r e q u i s i t e f o r l o n g - t e r m s u s t a i n a b l e
g r o wt h . T o e n s u r e t h i s , we h a v e concentrated our focus on expansion of branch
network, organising an efficient and welltrained sales force, and setting up appropriate systems
and processes with optimum use of technology. As all these areas form the basic
infrastructure for establishing the highest possible customer service standards.Our core
values are drilled down to all levels of employees, as these are inviolable.
Wecontinue to promote high integrity in business practices and shun short cuts and
unethical practices, as we wish to be perceived as an institution with high moral standing. Since
our 7
inception in 2000, when the Indian insurance space was opened for private participation,we have
consistently focused on setting benchmarks in all aspect on insurance business.Being the first
private player to be registered with the IRDA and the first to issue a policyon December 12,
2000, our differentiators are:

Strong Promoter:
HDFC Standard Life is a strong, financially secure businesssupported by two strong
and secure promoters HDFC Ltd and Standard Life. HDFC Lt d s excel l ent
br and s t r engt h emer ges f r om i t s unr el ent i ng f ocus on corporate governance, high
standards of ethics and clarity of vision. Standard Lifei s a s t r ong, f i nanci al l y s ecur e
bus i nes s and a mar ket l eader i n t he UK Li f e &Pensions sector.

Preferred and trusted brand:
Our brand has managed to set a new standard inthe Indian life insurance
communication space. We were the first private lifeinsurer to break the ice using the idea
of self-respect instead of death to conveyour brand proposition (Sar Utha Ke Jiyo).
Today, we are one of the few brandsthat customers recognize, like and prefer to do
business. Moreover, our brandthought, Sar Utha Ke Jiyo, is the most recalled campaign in
its category.

Investment philosophy:
We f ol l ow a cons er vat i ve i nves t ment management philosophy to ensure that our
customers money is looked after well. Theinvestment policies and actions are regularl y
monitored by a formal Investment Commi t t ee compr i s i ng non - execut i ve
di r ect or s and t he Pr i nci pal Of f i cer &Executive Director.As a life insurance
company, we understand that customers have invested their savings with us for the
long term, with specific objectives in mind. Thus, our investment focus is based on
the primary objective of protecting and generatinggood, consistent, and stable investment
returns to match the investors long-termobjective and return expectations, irrespective of the
market condition.8

Need based selling approach:
Despite the criticality of life insurance, sales inthe industry have been characterized by
over reliance on tax benefits and limitedadvice-based selling. Our eight -step structured
sales process Disha however,helps customers understand their latent needs at the
first instance itself without focusing on product features or tax benefits. Need-based selling
process, 'Disha',t h e f i r s t o f i t s k i n d s i n t h e i n d u s t r y , l o o k s a t t h e wh o l e
f i n a n c i a l p i c t u r e . Customers see a plan not piecemeal product selling.

Risk control framework:
HDFC St andar d Li f e has f ul l y i mpl ement ed a r i s k c o n t r o l f r a me wo r k t o
e n s u r e t h a t a l l t y p e s o f r i s k s ( n o t j u s t f i n a n c i a l ) a r e i dent i f i ed and
meas ur ed. Thes e ar e r egul ar l y r epor t ed t o t he boar d and t hi s ensures that the
company management and board members are fully aware of anyrisks and the actions taken to
ensure they are mitigated.

Focus on training:
Training is an integral part of our business strategy. Almostall employees have undergone
training to enhance their technical skills or thes of t er behavi our al s ki l l s t o be
abl e t o del i ver t he s er vi ce s t andar ds t hat our c o mp a n y h a s s e t f o r
i t s e l f . Be s i d e s t h e ma n d a t o r y t r a i n i n g t h a t F i n a n c i a l Cons ul t ant s
have t o under go pr i or t o bei ng l i cens ed, we have devel oped andimplemented
various training modules covering various aspects including productknowledge, selling skills,
objection handling skills and so on.

Focus on long term value:
HDFC Standard Life do not focus in the business of ramping up the topline onl y, but to
create maximization of stakeholder's value. Today, we are extremely satisfied with the
base that we have created for the long-term success of this company.

Transparent dealing:
We are one of the few companies whose product details, pricing, clauses are clearly
communicated to help customers take the rightdecision.9

Strict compliance with regulations:
We have initiated and implemented manynew processes, some of which were found
useful by the IRDA and later mademandatory for the entire industr y. The agents
who successfully completed thistraining only, were authorized by the company to sell
ULIPs. This has now beenmade compul s or y by I RDA f or al l i ns ur ance
compani es under t he new Uni t Linked Guidelines.

Diversified product portfolio:
HDFC St anda r d Li f e s wi de and di ver s i f i ed product portfolio help individuals meet
their various needs, be it:1 . P r o t e c t i o n : N e e d f o r a s o u n d i n c o m e
p r o t e c t i o n i n c a s e o f y o u r unfortunate demise2.Investment: Need to
ensure long-term real growth of your money3.Savings: Save for the milestones and
protect your savings too4.Pension: Need to save for a comfortable life post
retirement5. Heal t h: Cover f or heal t h r el at ed exi genci es
Brief Profile of the Board of Directors
The Board is responsible to act in the best interests of the Company and its shareholders.I n
di s char gi ng t hei r dut i es t he Di r ect or s s hal l compl y wi t h t he Code of
Conduct as adopted by the Board.Directors are expected to attend and actively participate in
Board Meetings and Meetingsof Committees on which they serve and to spend the time needed
and meet as frequentlyas necessary to properly discharge their responsibilities.The Board is
responsible for overall compliance with the corporate governance policy of the Company. It
oversees and directs the management of t he Companys business andaffairs. In
doing so, it must act honestly, in good faith and in the best interests of
theCompany.10
Mr. Deepak S. Parekh
is the Chairman of the Company. He is also the Chairman andDirector of Housing
Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited
in a senior management position in 1978. He was inducted as awhole-time director of HDFC
Limited in 1985 and was appointed as its Chairman in1993. Mr . Par ekh i s a
Fel l ow of t he I ns t i t ut e of Char t er ed Acco unt ant s ( Engl and &Wales).
Mr. Keki M. Mistry
joined the Board of Directors of the Company inDe c e mb e r , 2 0 0 0 . He i s c u r r e n t l y
t h e Vi c e Ch a i r ma n a n d Ch i e f Execut i ve Of f i cer of HDFC Li mi t ed. He
j oi ned HDFC Li mi t ed i n 1981 and became an Executive Director in 1993. He was
appointed asits Managing Director in 2000. Mr. Mistry is a Fellow of the Instituteo f
Ch a r t e r e d Ac c o u n t a n t s o f I n d i a a n d a me mb e r o f t h e Mi c h i g a n
As s o c i a t i o n o f Certified Public Accountants.
Ms. Renu S. Karnad
is the Managing Director of HDFC Limited. Sheis a graduate in Law and holds a Master's
degree in Economics fromDelhi University. She has been employed with HDFC
Limited since1978 and was appointed as the Executive Director in 2000 and
DeputyManagi ng Di r ect or i n 2007. She i s r es pons i bl e f or over s eei ng
al l aspects of lending operations of HDFC Limited.
Mr. David Nish
joined Standard Life on 1 November 2006 as GroupFinance Director and remained
in that position until December 2009. 11
He is appointed as the Executive Europe on 1st January 2010. In 2000 he was
awardedthe Scottish Business Awards Finance Director of the Year and from 2004
to 2005 hes er ved on t he Gover nment Empl oyer s Pens i on Tas k For ce. He i s
a member of t heI ns t i t ut e of Char t er ed Account ant s of Scot l and. He j oi ned
t he Boar d of Di r ect or s i n February 2010.
Mr. Nat han Parnaby
i s a p p o i n t e d a s t h e C h i e f Executive, Europe & Asia of Standard Life in the
year 2 0 1 0 . N a t h a n j o i n e d S t a n d a r d L i f e i n 1 9 8 2 a s Investment
Manager, responsible for all UK net funds.He wa s a p p o i n t e d a Di r e c t o r o f t h e
S t a n d a r d Li f e I n v e s t me n t s b o a r d . He i s a Ma t h e ma t i c s g r a d u a t e
f r o m Ox f o r d University and the Member of the Securities Institute. He joined
theBoard of Directors in December 2009.
Mr. Norman K. Skeoch
is currently the Chief Executive in StandardLife Investments Limited and is responsible for
overseeing InvestmentProcess & Chief Executive Officer Function. Prior to this, Mr. Skeochwas
working with M/s. James Capel & Co. holding the positions of UK Economi s t ,
Chi ef Economi s t , Execut i ve Di r ect or , Di r ect or of Controls and Strategy HSBS
Securities and Managing Director International Equities. Hewas al s o r es pons i bl e f or
Economi c and I nves t ment St r at egy r es ear ch pr oduced on a worldwide basis. Mr.
Skeoch joined the Board of Directors in November 2005.
Mr. Gautam R. Divan
is a practising Chartered Accountant and is aFellow of the Institute of Chartered
Accountants of India. Mr. Divanwa s t h e F o r me r Ch a i r ma n a n d Ma n a g i n g
Co mmi t t e e Me mb e r o f Mi d s n e l l Gr o u p I n t e r n a t i o n a l , a n
I n t e r n a t i o n a l As s o c i a t i o n o f 12
Independent Accounting Firms and has authored several papers of professional
interest.Mr. Divan has wide experience in auditing accounts of large public limited
companiesand nat i onal i s ed banks , f i nanci al and t axat i on pl anni ng of
i ndi vi dual s and l i mi t ed companies and also has substantial experience in structuring
overseas investments to andfrom India.
Mr. Ranj an Pant
i s a gl obal Management Cons ul t ant advi s i ng CEO/Boards on Strategy and
Change Management. Mr. Pant, until 2 0 0 2 wa s a P a r t n e r & Vi c e - P r e s i d e n t
a t Ba i n & Co mp a n y , I n c . , Bos t on, wher e he l ed t he wor l dwi de Ut i l i t y
Pr act i ce. He was al s o Di r e c t o r , Co r p o r a t e Bu s i n e s s De v e l o p me n t a t
Ge n e r a l E l e c t r i c headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton
School and BE(Honours) from Birla Institute of Technology and Sciences.
Mr. Ravi Narain
is the Managing Director & CEO of National Stock Exchange of India Limited. Mr. Ravi
Narain was a member of the coreteam to set-up the Securities & Exchange Board of India (SEBI)
and isalso associated with various committees of SEBI and the Reserve Bank of India (RBI).
Mr. A. K.T. Chari
has joined HDFC Standard Life as a Director onMarch 10, 2010. Mr. Chari has
completed his Electrical Engineeringfrom Madras University in 1962. He is associated with
InfrastructureDe v e l o p me n t F i n a n c e Co mp a n y Lt d . ( I DF C) f o r l a s t 1 1
y e a r s . Currently he is handling project finance for infrastructure projects atIDFC.
Prior to this he was associated with Infrastructure Development Bank of India (IDBI)
from 1975 to 1999.
Mr. Gerald E. Grimstone
was appointed Chairman of Standard Life inMa y 2 0 0 7 , h a v i n g b e e n De p u t y
Ch a i r ma n s i n c e Ma r c h 2 0 0 6 . He 13
became a director of the Standard Life Assurance Company in July 2003. He is alsoChairman
of Candover Investments plc and was appointed as one of the UKs
BusinessAmbassadors by the Prime Minister in January 2009. Gerry held senior positions
withinthe Department of Health and Social Security and HM Treasury until 1986. He then
spent13 years with Schroders in London, Hong Kong and New York, and was Vice Chairmanof
Schroders worldwide investment banking activities from 1998 to 1999. He is
theAlternate Director to Mr. David Nish.
Mr . Mi c h a e l G Co n n a r t y
i s r e s p o n s i b l e f o r S t a n d a r d Li f e ' s investments in life assurance Joint
Ventures in India and China. Heholds a degree in Law and MBA. He has worked
with Standard Lifefor 33 years in managerial positions covering a number of fields suchas
Pensions law, International Marketing, Operational Management,Strategy, Risk,
Compliance, Company Secretarial and Banking. He has acted as Project Manager for
the start-up project of the Company in 2000. He is the Alternate Director toMr. Norman K.
Skeoch.
Mr. Amitabh Chaudhry
is the MD and CEO of HDFC Standard Life.Be f o r e j o i n i n g HDF C S t a n d a r d Li f e ,
h e wa s t h e MD a n d CE O o f Infosys BPO and was also heading an Independent
Validation Servicesu n i t i n I n f o s y s T e c h n o l o g i e s . He s t a r t e d h i s c a r e e r
wi t h Ba n k o f America delivering diverse roles ranging from Head of
TechnologyInvestment Banking for Asia, Regional Finance Head for Wholesale Banking and
GlobalMarkets and Chief Finance Officer of Bank of America (India). He moved to
CreditLyonnais Securities in 2001 in Singapore where he headed their investment
bankingfranchise for South East Asia and structured finance practice for Asia
before joiningI nf os ys BPO i n 2005. Mr . Chaudhr y compl et ed hi s
Engi neer i ng i n 1985 f r om Bi r l a Institute of Technology and Science, Pilani and MBA in
1987 from IIM, Ahmedabad.14
Mr. Paresh Parasnis
is the Executive Director and Chief OperatingOf f i c e r o f t h e c o mp a n y . A
f e l l o w o f t h e I n s t i t u t e o f Ch a r t e r e d Accountants of India, he has been
associated with the HDFC Groups i nce 1984. Dur i ng hi s 16- year t enur e at
HDFC Li mi t ed, he was responsible for driving and spearheading several key initiatives. As
one of the foundingmember s of HDFC St andar d l i f e, Mr . Par as ni s has been
r es pons i bl e f or s et t i ng up branches, driving sales and servicing strategy, leading
recruitment, contributing to product launches and performance management system, overseeing
new business andclaims settlement, customer interactions etc.
Associate Companies
HDFC
Helping Indians experience the joy of home ownership.The road to success is a tough and
challenging journey in the dark where only obstacles light the path. However, success on a
terrain like this is not withouta solution.As we found out nearly three decades ago, in
1977, the solution for success is customer satisfaction. All you need is the courage to
innovate, the skill to understand your clienteleand the desire to give them your best.Today,
nearly three million satisfied customers whose dream we helped realize,
standtestimony to our success.Our objective, from the beginning, has been to enhance
residential housing stock and promote home ownership. Now, our offerings range from
hassle-free home loans and deposit products, to propertyrelated services and a training facility.15
We also offer specialized financial services to our customer base through
partnershipswith some of the best financial institutions worldwide.
HDFC Bank
The Housing Development Finance Corporation Limited (HDFC)was amongst the first to
receive an 'in principle' approval from theReserve Bank of India (RBI) to set up a bank in
the private sector, as part of the RBI' sl i ber al i z at i on of t he I ndi an Banki ng
I ndus t r y i n 1994. The bank was i ncor por at ed i n August 1994 in the name of 'HDFC
Bank Limited', with its registered office in Mumbai,India. HDFC Bank commenced operations
as a Scheduled Commercial Bank in January1995.
HDFC Mutual Fund
HDFC Mutual Fund has been one of the best performing mutualfunds in the last few
years. HDFC Asset Management CompanyLimited (AMC) functions as an Asset
Management company for the HDFC mutual fund.AMC is a joint venture between housing
finance giant HDFC and British investment firmStandard Life Investments Limited. It
conducts the operations of the Mutual Fund andmanages assets of the schemes, including
the schemes launched from time to time. As of Aug 2006, the fund has assets of Rs.25,892 crores
under management.In 2003, following a decision by the Zurich Insurance Company
(ZIC), the Sponsor of Zurich India Mutual Fund, to divest its asset management
business in India, AMC hade n t e r e d i n t o a n a g r e e me n t wi t h Z I C t o
a c q u i r e t h e a s s e t ma n a g e me n t b u s i n e s s . Consequently, all the schemes of
Zurich Mutual Fund in India had been transferred toHDFC mutual fund and renamed as
HDFC schemes.
HDFC Sales
16
HDFC Sales is a wholly owned subsidiary of HDFC Ltd. The company has been floateda s a
d i s t r i b u t i o n a r m o f HDF C wi t h a n o b j e c t i v e o f o f f e r i n g d o o r s t e p
s e r v i c e t o prospective clients of HDFC group. HDFC Sales offers financial management
solutionsto individuals encompassing among other products Home Loans, Life Insurance,
MutualFunds, Fixed Deposits and property Solutions.
Home Loans:
HDFC Sales is present in over 100 locations across the country with 55offices and
over 1750 employees.
Financial Management:
HDFC Sales offers financial management solutions in 9 citiesand is continuously expanding
its reach. HDFC Sales employs sales persons across allspectrums of financial
management enabling them to meet a range of financial needs.
HDFC Realty:
HDFC Sal es manages t he HDFC Real t y bus i nes s and t he
Webs i t e(hdfcrealty.com) which offers property solutions buying, selling, leasing to
Individualsand Corporates. HDFC Realty is present in all the major cities in India as
well as inDubai.The company mirrors the philosophy and values of its parent, HDFC."HDFC's
finest investment is in its Human Resources. It draws its personnel from manydi s ci pl i nes .
They ar e t he bui l di ng bl ocks on whi ch t he company' s per f or mance
& productivity is based". H T Parekh, Founder - Chairman, HDFCHDFC Sales values integrity,
commitment, teamwork and excellence in customer service.Our most valuable assets are
our Human Resources. We are truly proud that today wehave a highly motivated
team of sales persons and that we have the lowest employeeturnover rate in the
Industry.
HDFC ERGO
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between
HDFC Limited
, Indias premier Housing17
Finance Institution &
ERGO International AG
, the primary insurance entity of MunichRe Group.HDFC ERGO focuses on providing the
Right Insurance Solution
for all. We offer our customers complete range of general insurance products ranging
from Motor, Health,Travel, Home and Personal Accident in the retail space and
customized products likeProperty, Marine and Liability Insurance in the corporate space.I t
i s our cons t ant endeavor t o i mpr ovi s e and cat er t o ever y need of t he
moder n da ycustomer with superior customer support service. This helps us give
our customers aseamless and hassle-free experience.HDFC ERGO has been expanding its
presence across the country and is today present across 71 cities with 78 branch offices
with an employee base of over 950 professionals.The company has a r i ght bal ance of
di s t r i but i on channel compr i s i ng of Deal er s hi ps , Brokers, Retail and Corporate
Agents, Bancassurance and Direct Sales Team.
Other Companies

HDFC Trustee Company Ltd.

GRUH Finance Ltd.

HDFC Developers Ltd.

HDFC Property Ventures Ltd.

HDFC Ventures Trustee Company Ltd.

HDFC Investments Ltd.

HDFC Holdings Ltd.

Credit Information Bureau (India) Ltd

HDFC Securities18
HDFC Standard Life Milestones

Recei ved t he PCQues t Bes t I T I mpl ement at i on Awar d 2008 f or
Cons ul t ant Corner, the applications for its financial consultants, providing centralized
controlover a vast geographical spread for key business units such as inventory,
training,licensing, etc.

Received the 2008 CIO Bold 100 Award for its mobile workforce portal and
theSpecial 2008 CIO Security Award for a secure computing environment, includingidentity
management respectively.

Mr. Deepak M Satwalekar Awarded QIMPRO Gold Standard Award.

HDFCSL expanded its reach in the Bancassurance channel by arrangements withco-operative
banks in the rural areas.

Continued to increase its focus on quality service, by putting in place a
robustmechanism to capture Voice of the Customer through service audits across
itsoffices. This was complemented by use of technology that enabled capture of allinteractions
with customers across all touch points

S a r Ut h a Ke J i y o
was honoured as Among Indias 60 Glorious AdvertisingMoments. The
advertisements of the company were ranked 6
th
amongst The 10most effective Advertisements in September 2007.

Recei ved t he PCQues t Bes t I T I mpl ement at i on Awar d 2007 f or Wonder s ,
i t s path-breaking implementation of an enterprise-wide workflow system. In additionthe
company also bagged the EMC storage award for being the most innovativeusers of
storage and storage management.

Pension Plan Tops Mints Survey of Best TV Ads.

HDFC St andar d Li f e s adver t i s i ng cr eat ed hi gh awar enes s f or t he br and
and bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards19
or gani s ed by t he Adver t i s i ng Agenci es As s oci at i on of I ndi a ( AAAI ) . The
3awards are the highest won by any single brand in the financial services business(including
banking, mutual fund, insurance and other financial services).

Ranked 29
th
most trusted Indian Brands amongst the Top 50 Service Brands of 2006 according to a
study conducted by the Brand Equity Economic Times, theleading business publication of
India.
Corporate Governance
Introduction
The Corporate Governance Policy provides the framework under which the Board
of Directors operates. It includes its corporate structure, culture, policies and the manner
inwh i c h i t d e a l s wi t h v a r i o u s s t a k e h o l d e r s . T h e g o v e r n a n c e
p o l i c i e s a d d r e s s t h e responsibilities, authority and administration of the Board of
Directors. The policies alsoinclude the responsibilities of the Principal Officer and define the
reporting relationships.T i me l y a n d a c c u r a t e d i s c l o s u r e o f i n f o r ma t i o n
r e g a r d i n g t h e f i n a n c i a l s i t u a t i o n , performance, board constitution, ownership of
the company etc. is an important part of corporate governance. Corporate governance
arrangements are those through which anorganization directs and controls itself and the
people associated with it.The Policy is normall y reviewed annually and modified when
appropriate to ensure proper alignment with best practices in corporate governance.
Companys Philosophy
Cor por at e Gover nance i s a pr oces s t hat ai ms t o meet s t akehol der s
as pi r at i ons andsocietal expectations. It is not a discipline imposed by a Regulator, rather is a
culture thatgui des t he Boar d, Management and Empl oyees t o f unct i on
t owar ds bes t i nt er es t of Stakeholders.20
At HDFCSL, Corporate Governance philosophy stems from the belief that
corporategovernance is a key element in improving efficiency and growth as well as
enhancingi nves t or conf i dence. Accor di ngl y, t he Cor por at e Gover nance
phi l os ophy has been scripted as under: As a good corporate citizen, the Company
is committed to soundcorporate practices based on its vision, values & principles in building
confidence of itsvarious stakeholders, thereby paving the way for its long term success and
sustenance.At the core of its corporate governance practice is the Board, which
oversees how themanagement serves and protects the long-term interests of all the
stakeholders of theCompany. The Company believes that an active, well-informed and
independent Board isnecessary to ensure the highest standards of corporate governance.The
Company s cor por at e gover nance pr act i c es ar e ai med at meet i ng t he
cor por at e governance requirements as per the IRDA Corporate Governance
Guidelines, besidesgood pr act i ces ei t her r ecommended by pr of es s i onal
bodi es or pr act i s ed by l eadi ng companies in India. .The following Corporate
Governance Policy has been adopted by the Board of Directorsto assist the Board in the
exercise of its responsibilities. This Policy is subject to futureamendments or changes,
as may be necessary, in the light of the amendments in variousregulations in force for
governance requirements.
Products of HDFC Standard Life Insurance
1 . Pr o t e c t i o n Pl a n s :
They help you shield your family from uncertainties in life dueto financial losses in terms of loss
of income that may dawn upon them incase of your untimely demise or critical illness. Securing
the future of ones family is oneof the most important goals of life. Protection Plans go
a long way in ensuringyour familys financial independence in the event of your
unfortunate demise or critical illness. They are all the more important if you are the chief
wage earner inyour f ami l y. No mat t er how much you have s aved or i nves t ed
over t he year s , 21
sudden eventualities, such as death or critical illness, always tend to affect
your family financially apart from the huge emotional loss.
Types of Protection Plans

HDFC Term Assurance Plan

HDFC Premium Guarantee Plan

HDFC Loan Cover Term Assurance Plan

HDFC Home Loan Protection Plan
2 . Re t i r e me n t Pl a n s :
They provide you with financial security so that when your professional income starts
to ebb, you can still live with pride withoutcompromising on your living standards. By
providing you a tool to accumulateand invest your savings, these plans give you a lump
sum on retirement, which isthen used to get regular income through an annuity plan.
Given the high cost of living and rising inflation, employer pensions alone are not
sufficient. Pension planning has therefore become critical today.
Type of Retirement Plan

HDFC Personal Pension Plan
3 . S a v i n g s & I n v e s t me n t Pl a n s :
They pr ovi de you t he as s ur ance of l ump s umfunds for your and your familys
future expenses. While providing an excellentsavings tool for your short term and
long term financial goals, these plans alsoa s s ur e your f ami l y a cer t ai n s um by
wa y of an i ns ur ance cover . Wi t h HDFCStandard Lifes range of Saving &
Investment Plans, you can therefore ensuret hat your f ami l y al wa ys r emai ns
f i nanci al l y i ndependent , even i f you ar e not around.
Types of Savings & Investment Plans
22

HDFC Endowment Assurance Plan

HDFC SL New Money Back Plan

HDFC Money Back Plan

HDFC Assurance Plan

HDFC Savings Assurance Plan

HDFC SL ProGrowth Super II

HDFC Single Premium Whole of Life Insurance Plan

HDFC SL Crest
4 . H e a l t h P l a n s :
T h e y g i v e y o u t h e f i n a n c i a l s e c u r i t y t o me e t h e a l t h
r e l a t e d contingencies. Due to changing lifestyles, health issues have acquired completelyn e w
d i me n s i o n o v e r t i me , b e c o mi n g mo r e c o mp l e x i n n a t u r e . I t
b e c o me s imperative then to have a health plan in place, which will ensure that no
matter how critical your illness is, it does not impact your financial independence.
Types of Health Plans

HDFC Critical Care Plan

HDFC SurgiCare Plan
5 . Ch i l d r e n s Pl a n s :
They helps you save so that you can fulfill your childs dreamsand aspirations. These
plans go a long way in securing your childs future byfinancing the key milestones
in their lives even if you are no longer around tooversee them. As a parent, you wish to
provide your child with the very best thatlife offers, the best possible education, marriage and
life style.
Types of Childrens Plans

HDFC Children's Plan23

HDFC SL YoungStar Super II
Chapter2
Industry Profile
24
INSURANCE IN INDIA
The i ns ur ance s ect or i n I ndi a has come a f ul l ci r cl e f r om bei ng an open
compet i t i vem a r k e t t o n a t i o n a l i s a t i o n a n d b a c k t o a l i b e r a l i s e d
m a r k e t a g a i n . T r a c i n g t h e developments in the Indian insurance sector reveals the
360 degree turn witnessed over a period of almost two centuries.
A brief history of the Insurance sector
The business of life insurance in India in its existing form started in India in the
year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
Some of t he i mport ant Mi l es t ones i n t he Li f e I ns urance Bus i nes s
i nIndia are:1912:
The Indian Life Assurance Companies Act enacted as the first statute to regulatethe life
insurance business.
1928:
The Indian Insurance Companies Act enacted to enable the government to collectstatistical
information about both life and non-life insurance businesses.
1938:
Earlier legislation consolidated and amended to by the Insurance Act with
theobjective of protecting the interests of the insuring public.
1956:
245 Indian and foreign insurers and provident societies taken over by the centralgovernment
and nationalised. LIC formed by an Act of Parliament, viz. LIC Act,1956, with a
capital contribution of Rs. 5 crore from the Government of India.25
The General insurance business in India, on the other hand, can trace its roots to
theTriton Insurance Company Ltd., the first general insurance company established
in theyear 1850 in Calcutta by the British.
Insurance Sector Reforms
In 1993, Malhotra Committee headed by former Finance Secretary and RBI
Governor R.N. Malhotra was formed to evaluate the Indian insurance industry and recommend
itsfuture direction.The Malhotra committee was set up with the objective of
complementing the reformsinitiated in the financial sector.The reforms were aimed at
creating a more efficient and competitive financial systemsuitable for the
requirements of the economy keeping in mind the structural changescurrently
underway and recognising that insurance is an important part of the overall financial
system where it was necessary to address the need for similar reformsI n 1994, t he
commi t t ee s ubmi t t ed t he r epor t and s ome of t he ke y
r ecommendat i ons included:
i . S t r u c t u r e

Government stake in the insurance Companies to be brought down to 50%.

Government should take over the holdings of GIC and its subsidiaries so that these
subsidiaries can act as independent corporations.

All the insurance companies should be given greater freedom to operate
i i . C o m p e t i t i o n

Private Companies with a minimum paid up capital of Rs.1bn should be allowedto enter the
industry.26

No Company should deal in both Life and General Insurance through a singleentity.

Foreign companies may be allowed to enter the industry in collaboration with thedomestic
companies.

Postal Life Insurance should be allowed to operate in the rural market.

Only one State Level Life Insurance Company should be allowed to operate ineach
state.
i i i . R e g u l a t o r y B o d y

The Insurance Act should be changed.

An Insurance Regulatory body should be set up.

Controller of Insurance (Currently a part from the Finance Ministry) should be made
independent.
i v . I n v e s t m e n t s

Mandatory Investments of LIC Life Fund in government securities to be reducedfrom 75% to
50%.

GIC and its subsidiaries are not to hold more than 5% in any company (There current
holdings to be brought down to this level over a period of time)
v . C u s t o m e r S e r v i c e

LIC should pay interest on delays in payments beyond 30 days.

Insurance companies must be encouraged to set up unit linked pension plans.

Computerization of operations and updating of technology to be carried out in theInsurance
industry.The committee emphasized that in order to improve the customer services
and increasethe coverage of the insurance industry should be opened up to
competition. But at the27
same time, the committee felt the need to exercise caution as any failure on the part
of new players could ruin the public confidence in the industry.Hence, it was decided to allow
competition in a limited way by stipulating the minimumcapital requirement of Rs.100
crores. The committee felt the need to provide gr eater autonomy to insurance companies
in order to improve their performance and enable themt o act as i ndependent compani es
wi t h economi c mot i ves . For t hi s pur pos e, i t had proposed setting up an
independent regulatory body.
The Insurance Regulatory and Development Authority (IRDA)
Ref or ms i n t he I ns ur ance s ect or wer e i ni t i at ed wi t h t he pas s age of t he
I RDA Bi l l i nParliament in December 1999. The IRDA since its incorporation as a
statutory body inApril 2000 has fastidiously stuck to its schedule of framing
regulations and registeringthe private sector insurance companies.The ot her deci s i ons
t aken s i mul t aneous l y t o pr ovi de t he s uppor t i ng s ys t ems t o t he insurance
sector and in particular the life insurance companies was the launch of the IRDAs
online service for issue and renewal of licenses to agents.The approval of institutions for
imparting training to agents has also ensured that theinsurance companies would have a
trained workforce of insurance agents in place to selltheir products, which are expected to be
introduced by early next year.Since being set up as an independent statutory body the IRDA has
put in a framework of globally compatible regulations. In the private sector 12 life
insurance and 6 general insurance companies have been registered.28
INSURANCE COMPANIES IN INDIA

Aegon Religare

Aviva

Bajaj Allianz

Bharti Axa Life

Birla Sun Life

Canara HSBC OBC Life

DLF Pramerica

Future Generali Life

HDFC Standard Life

ICICI Pru

IDBI Fortis Life

ING Vysya

Kotak Life Insurance

Max New York Life

Metlife India

Reliance Life Insurance

Sahara Life

SBI Life Insurance

Shriram Life

Star Union Dai-ichi Life

Tata AIG
Aegon Religare Life
AEGON
, an international life insurance, pension and investment company,
Religare
, oneo f I n d i a s l e a d i n g i n t e g r a t e d f i n a n c i a l s e r v i c e s g r o u p s a n d
Bennett, Col eman &company
, Indias largest media house, have come together to launch
AEGON ReligareLife Insurance Company Limited
. This venture is dedicated to build a firm future, bothf o r c u s t o me r s a n d e mp l o y e e s a n d wi l l c o n t i n u e t o b a l a n c e a
l o c a l a p p r o a c h wi t h t h e power of an expanding global operation.29
We launched our pan-India multi-channel operations in July, 2008 with over 30 branchesspread across Indi a. Our busi ness phi losophy
i s t o help peopl e plan t hei r li fe bet t er. We provide high quality advice to our customers and offer superior customer service.
Aviva India
Avi va Indi a i s a j oi nt vent ure bet ween one of t he count rys oldest and largest groups, Dabur, and Avi va plc, t he UK' s
largest i nsurance group, whose associ at i on wi t h Indi a dates back to 1834.
Dabur Group
Founded i n 1884, Dabur Group i s one of Indi a' s oldest and largest group o f c o mp a n i e s wi t h a c o n s o l i d a t e d
a n n u a l t u r n o v e r i n e x c e s s o f Rs 2 , 3 9 6 c r o r e s . A professionally managed company, it is the country's leading producer of
traditionalhealthcare products.
Aviva Group
Avi va Group i s t he UKs largest and one of t he bi ggest Insurance groups worldwide. It is one of the leading providers of life and
pensions products to Europe andhas subst anti al busi nesses el sewhere around t he world. Wi t h a hist ory dat i ng back t o 1696,
Aviva Group has a 50 million customer base worldwide.
Bajaj Allianz Life Insurance Co Ltd
Bajaj Allianz Life Insurance is a union between Allianz SE, one of the largest InsuranceCompany and Bajaj Finserv.Al l i a n z S E i s a
l e a d i n g i n s u r a n c e c o n g l o me r a t e g l o b a l l y a n d o n e o f t h e l a r g e s t a s s e t managers i n t he world, managi ng
asset s wort h over a Tri l li on (Over INR. 55, 00, 00030
Crores). Alli anz SE has over 115 years of fi nanci al experi ence and i s present i n over 70countries around the world.
Bharti AXA Life Insurance CO Ltd.
Bharti AXA Life Insurance
i s a j oi nt vent ure bet ween Bhart i , one of Indi as l eadi ng business groups with interests in telecom, agri business and retail, and
AXA, world leader i n fi nancial prot ect i on and wealt h management . The j oi nt vent ure company has a 74%stake from Bharti
and 26% stake of AXA.The company launched national operations in December 2006. Today, we have over 8000employees across over 12
st at es i n t he count ry and a nat ional foot pri nt of di st ri but orst rai ned t o provi de quali t y fi nanci al advi ce and i nsurance
solut i ons t o t he large Indi ancustomer base.A s w e f u r t h e r e x p a n d o u r p r e s e n c e a c r o s s t h e c o u n t r y
w i t h a l a r g e n e t w o r k o f di st ri but ors, we cont i nue t o provi de i nnovat i ve product and servi ce offeri ngs t o cat er
t ospeci fi c i nsurance and wealt h management needs of cust omers. What ever your plans i n life, you can be confident that Bharti
AXA Life will offer the right financial solutions tohelp you achieve them.
Birla Sun Life Insurance Company Limited
Established in 2000, Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known and
trusted name globally amongst Indianc o n g l o me r a t e s a n d S u n Li f e F i n a n c i a l I n c , l e a d i n g i n t e r n a t i o n a l f i n a n c i a l
s e r v i c e s organi zat i on from Canada. The local knowl edge of t he Adi t ya Bi rla Group combi ned with the domain expertise of
Sun Life Financial Inc., offers a formidable protection for itscustomers future.31
With an experience of over 9 years, BSLI has contributed significantly to the growth anddevelopment of the life insurance industry in India and
currently ranks amongst the top 5 private life insurance companies in the country.Known for its innovation and creating industry benchmarks,
BSLI has several firsts to itscredit. It was the first Indian Insurance Company to introduce Free Look Period and thesame was made mandatory
by IRDA for all other life insurance companies. Additionally,BS LI p i o n e e r e d t h e l a u n c h o f Un i t Li n k e d Li f e I n s u r a n c e
p l a n s a mo n g s t t h e p r i v a t e players in India. To establish credibility and further transparency, BSLI also enjoys the prestige to be the
originator of practice to disclose portfolio on monthly basis. Thesec a t e g o r y d e v e l o p me n t i n i t i a t i v e s h a v e h e l p e d BS LI b e
c l o s e r t o i t s p o l i c y h o l d e r s e x p e c t a t i o n s , wh i c h g e t s f u r t h e r a c c e n t u a t e d b y t h e c o mp l e t e b o u q u e t
o f i n s u r a n c e products (viz. pure term plan, life stage products, health plan and retirement plan) that thecompany offers.Ad d t o t h i s ,
t h e e x t e n s i v e r e a c h t h r o u g h i t s n e t wo r k o f 6 0 0 b r a n c h e s a n d 1 , 7 5 , 0 0 0 empanell ed advi sors. Thi s
i mpressi ve combi nat i on of domai n expert i se, product range, r e a c h a n d e a r s o n g r o u n d , h e l p e d B S L I
c o v e r m o r e t h a n 2 m i l l i o n l i v e s s i n c e i t c o mme n c e d o p e r a t i o n s a n d e s t a b l i s h a c u s t o me r b a s e
s p r e a d a c r o s s mo r e t h a n 1 5 0 0 t owns and ci t i es i n Indi a. To ensure t hat our cust omers have an i mpeccabl e
experi ence, BSLI has ensured t hat i t has lowest out st andi ng clai ms rat i o of 0. 00% for FY 2008 -09. Addi t i onall y, BSLI
has t he best Turn around Ti me accordi ng t o LOMA on al l clai ms Parameters. Such services are well supported by sound financials
that the Company has.The AUM of BSLI st ood at
Rs. 8165 crs as on February 28, 2009,
whi le as on March31, 2009, the company has a robust capital base of
Rs. 2000 crs.
Canara HSBC OBC Life
The shareholdi ng pat t ern of t he Joi nt Vent ure i s as foll ows - Canara Bank holds 51%e q u i t y , H S B C I n s u r a n c e
( A s i a P a c i f i c ) H o l d i n g s L t d 2 6 % a n d O r i e n t a l B a n k o f 32
Commerce 23%. The Venture has an initial paid up capital of INR 325 crores which willfurther increase in line with our expansion plans.The
Company commenced business 16th of June, 2008 after receiving requisite approvalsfrom the Insurance Regulatory Development Authority
(IRDA). Canara HSBC Life hasaccess to 4100 bank branches all over India.
DLF Pramerica Life
DLF Prameri ca Li fe Insurance Company Lt d. (DPLI) i s a j oi nt vent ure bet ween DLFLi mi t ed and Prudent i al
Int ernat i onal Insurance Holdi ngs, Lt d. (referred t o hereaft er as " P I I H" ) . P I I H i s a f u l l y o wn e d s u b s i d i a r y o f
P r u d e n t i a l F i n a n c i a l , I n c . ( r e f e r r e d t o hereafter as "PFI").The combination of the strength of the DLF brand and PFI's insurance
expertise providethe strongest possible foundations for DPLI to succeed in the rapidly growing Indian lifeinsurance market.
DLF
DLF Limited is one of the leading real estate companies in the world. It has a track record of over si x decades of sust ai ned growt h,
cust omer sat i sfact i on, and i nnovat i on. DLF's primary business is development of residential, commercial and retail properties.DLF has
a unique business model wi t h earni ngs ari si ng from devel opment and rent als. DLF has entered into several strategic alliances
with global industry leaders. Also, it hasrecent l y forayed i nt o t he i nfrast ruct ure, SEZ, fi nanci al se rvi ces and hot el busi nesses
(www.dlf.in)
.
PFI
Prameri ca i s a t radename used by Prudent i al Fi nanci al, Inc. ("PFI"), a company incorporated and with its principal place of
business in the United States, and its affiliated33
companies in select countries outside the United States. PFI is a financial services leader with operations in the United States, Asia, Europe, and
Latin America.Leveraging its heritage of life insurance and asset management expertise, PFI is focusedon helpi ng i ndi vi dual and
i nst i tut i onal cust omers grow and prot ect t hei r wealt h. In t he U . S . , t h e c o m p a n y ' s R o c k s y m b o l i s a n
i c o n o f s t r e n g t h , s t a b i l i t y , e x p e r t i s e a n d innovation that has stood the test of time.P F I ' s b u s i n e s s e s o f f e r a
v a r i e t y o f p r o d u c t s a n d s e r v i c e s , i n c l u d i n g l i f e i n s u r a n c e , annui t i es, ret i rement -relat ed servi ces, mut ual
funds, i nvest ment management , and real est at e servi ces. Prudent i al Fi nanci al, Inc. of t he Uni t ed St at es i s not affi li at ed
i n anymanner with Prudential plc, a company incorporated in the United Kingdom.
Future Generali Life
Future Generalii s a j oi nt vent ure bet ween t he Indi a -based Fut ure Group and t he It al y- based Generali Group.Fut ure Generali
i s present i n Indi a i n bot h t he Li fe and Non-Li fe busi nesses as Fut ureGenerali India Life Insurance Co. Ltd. and Future Generali
India Insurance Co. Ltd.
FUTURE GROUP
Fut ure Group, l ed by i t s founder and Group CEO, Mr. Ki shore Bi yani , i s one of Indi asleading business houses with multiple
businesses spanning across the consumption space.Whi le ret ai l forms t he core busi ness act i vi t y of Fut ure Group, group
subsi di ari es are present in consumer finance, capital, insurance, leisure and entertainment, branddevelopment, retail real estate development,
retail media and logistics.Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million squaref e e t o f r e t a i l
s p a c e i n 7 1 c i t i e s a n d t o w n s a n d 6 5 r u r a l l o c a t i o n s a c r o s s I n d i a . Headquart ered i n
Mumbai (Bombay), Pant aloon Ret ai l empl oys around 30, 000 peopl e 34
and i s li st ed on t he Indi an st ock exchanges. The company fol l ows a mult i -format ret ai lst rat egy t hat capt ures almost
t he ent i re consumpt i on basket of Indi an cust omers. In t heli fe st yl e segment , t he group operat es Pant aloons, a fashi on
ret ai l chai n and Cent ral, ac h a i n o f s e a ml e s s ma l l s . I n t h e v a l u e s e g me n t , i t s ma r q u e e b r a n d , Bi g Ba z a a r
i s a hypermarket format t hat combi nes t he l ook, t ouch and feel of Indi an bazaars wi t h t he choice and convenience of modern
retail.The groups specialty retail formats include sportswear retailer, Planet Sports, electronicsret ai l er, eZone, home i mprovement
chai n, Home Town and rural ret ai l chai n, Aadhaar, among others. It also operates popular shopping
portal,www.futurebazaar.com.Fut ure Capi t al Holdi ngs, t he groups fi nanci al arm, provi des i nvest ment advi sory t oasset s
wort h over $1 bi lli on t hat are bei ng i nvest ed i n consumer brands and compani es, real estate, hotels and logistics. It also operates
a consumer finance arm with branches in150 locations.Ot h e r g r o u p c o mp a n i e s i n c l u d e , Fu t u r e Ge n e r a l i , t h e g r o u p s
i n s u r a n c e v e n t u r e i n partnership with Italys Generali Group, Future Brands, a brand development and IPR c o mp a n y , F u t u r e
Lo g i s t i c s , p r o v i d i n g l o g i s t i c s a n d d i s t r i b u t i o n s o l u t i o n s t o g r o u p companies and business partners and Future
Media, a retail media initiative.The groups presence in Leisure & Entertainment segment is led through, Mumbai-basedlisted company Galaxy
Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling Co. and family entertainment centres, F123. Through its partner
company,Blue Foods t he group operat es around 100 rest aurant s and food court s t hrough brandsli ke Bombay Blues,
Spaghet t i Ki t chen, Noodle Bar, The Spoon, Copper Chi mney and Gelato.Fut ure Groups j oi nt vent ure part ners i nclude,
US-based st at i onery product s ret ai l ers, S t a p l e s a n d Mi d d l e Ea s t - b a s e d Ax i o m Co mmu n i c a t i o n s . F u t u r e
Gr o u p b e l i e v e s i n developing strong insights on Indian consumers and building businesses based on Indian35
ideas, as espoused in the groups core value of Indianness. The groups corporate credois, Rewrite rules, Retain values.
THE GENERALI GROUP
The Generali Group i s a l eadi ng player i n t he gl obal i nsurance and fi nancial market s. Est abli shed i n Tri est e i n 1831,
t oday t he Group i s one of Europes largest i nsurance providers and the European biggest Life insurer. It is also one of the worlds top
assetmanagers wi t h asset s t ot ali ng more t han 300 bi lli on. Wi t h an employed sal es force of more than 100,000 people
serving 60 million clients in 65 countries, the Group occupiesa leadershi p posi t i on i n West ern Europe and an increasi ngl y
i mport ant place i n East ernEurope and Asia.The Group strategy aims to consolidate Generalis pre-eminence on its key markets
anda c h i e v e a p r e mi e r p o s i t i o n o n ma r k e t s wi t h h i g h g r o wt h p o t e n t i a l , e s t a b l i s h i n g i t s leadershi p i n
profi t abi li t y. The Group i s not onl y t he market l eader i n It al y, but also a primary player in Germany, France, Austria, Spain,
Switzerland, Israel and Argentina.Generali is a strong player on markets offering high growth potential. In Central EasternEurope, i n
part i cular, t hanks t o t he Generali PPF Joi nt Vent ure, i t i s one of t he pri mary players. Generali also has Joint Ventures in India
and China, where, within a few yearsafter its entrance, it has already become one of the top foreign insurance providers.
HDFC - Standard Life Insurance Company Ltd
HDF C S t a n d a r d Li f e I n s u r a n c e Co mp a n y Li mi t e d . i s o n e o f I n d i a ' s l e a d i n g p r i v a t e insurance companies,
which offers a range of individual and group insurance solutions. Iti s a j oi nt vent ure bet ween Housi ng Devel opment Fi nance
Corporat i on Li mi t ed (HDFCLi mi t e d ) , I n d i a ' s l e a d i n g h o u s i n g f i n a n c e i n s t i t u t i o n a n d a Gr o u p Co mp a n y
o f t h e Standard Life Plc, UK. As on February 28, 2009 HDFC Ltd. holds 72.43% and StandardLife (Mauritius Holding) 2006, Ltd. holds
26.00% of equity in the joint venture, while therest is held by Others.36
ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost financial services companies-and
Prudential plc - a leading internationalfi nanci al servi ces group headquart ered i n t he Uni t ed Ki ngdom. Tot al capi t al
i nfusi onst ands at Rs. 47. 80 bi lli on, wi t h ICICI Bank holdi ng a st ake of 74% and Prudent ial plc holding 26%.We began
our operat i ons i n December 2000 aft er recei vi ng approval from Insurance Regulatory Development Authority (IRDA). Today,
our nation-wide team comprises of 2 0 7 4 b r a n c h e s ( i n c l u s i v e o f 1 , 1 1 6 m i c r o - o f f i c e s ) , o v e r 2 2 5 , 0 0 0
a d v i s o r s ; a n d 7 bancassurance partners. ICICI Prudent i al i s t he fi rst li fe i nsurer i n Indi a t o recei ve a Nat i onal Insurer
Fi nanci al S t r e n g t h r a t i n g o f AAA ( I n d ) f r o m F i t c h r a t i n g s . F o r t h r e e y e a r s i n a r o w, I CI C I Prudential has
been voted as India's Most Trusted Private Life Insurer, by The EconomicTi me s - AC Ni e l s e n ORG Ma r g s u r v e y o f ' Mo s t
Tr u s t e d Br a n d s ' . As we g r o w o u r d i s t r i b u t i o n , p r o d u c t r a n g e a n d c u s t o me r b a s e , we c o n t i n u e t o
t i r e l e s s l y u p h o l d o u r commitment to deliver world-class financial solutions to customers all over India.
IDBI Fortis Life
IDBI Fort i s Li fe Insurance Co Lt d, i s a j oi nt vent ure bet ween t hree l eadi ng fi nanci al c o n g l o me r a t e s I n d i a s
p r e mi e r d e v e l o p me n t a n d c o mme r c i a l b a n k , I DBI , I n d i a s leading private sector bank, Federal Bank and Europes
premier Bancassurer, Fortis, eachof which enjoys a significant status in their respective business segments. In this venture,IDBI owns 48% equity
while Federal Bank and Fortis own 26% equity each.IDBI Fortis launched its first set of products across India in March 2008, after receivingt he
requi si t e approvals from t he Insurance Regulat ory Devel opment Aut hori t y ( IRDA). Today, we offer our servi ces
t hrough a vast nat i onwi de net work across t he branches of IDBI Bank and Federal Bank in addition to a sizeable network of advisors
and partners.

37
I DBI Ba n k
L t d . c o n t i n u e s t o b e , s i n c e i t s i n c e p t i o n , I n d i a s p r e m i e r i n d u s t r i a l development bank.
Creat ed i n 1956 t o support Indi as i ndust ri al backbone, IDBI Bank has since evolved into a powerhouse of industrial and retail
finance. Today, it is amongstI n d i a s f o r e mo s t c o mme r c i a l b a n k s , wi t h a wi d e r a n g e o f i n n o v a t i v e p r o d u c t s
a n d servi ces, servi ng ret ai l and corporat e cust omers i n al l corners of t he count ry from over 620 branches and more
t han 1050 ATMs. The Bank offers i t s cust omers an ext ensi verange of di versi fi ed servi ces i ncludi ng proj ect fi nanci ng,
t erm l endi ng, worki ng capi t al facilities, lease finance, venture capital, loan syndication, corporate advisory services andlegal and
t echni cal advi sory servi ces t o i t s corporat e cli ent s as wel l as mort gages and personal loans to its retail clients. As part of its
development activities, IDBI Bank has been instrumental in sponsoring the development of key institutions involved in Indiasfi nanci al sect or
such as t he Securi t i es and Exchange Board of Indi a (SEBI), Nat i onal Stock Exchange of India Limited (NSE) and National
Securities Depository Ltd
Federal Bank
is one of Indias leading private sector banks, with a dominant presence int he st at e of Kerala. It has a st rong net work of over 640
branches and 670 ATMs spreadacross India. The bank provides over four million retail customers with a wide variety of financial products.
Federal Bank is one of the first large Indian banks to have an entirelyaut omat ed and int erconnect ed branch net work. The Bank
operat es on t he core banki ng platform and is RTGS/ NEFT enabled through which it offers state-of-the-art technologyenabled product s
and servi ces. In addi t i on t o i nterconnect ed branches and ATMs, t he Bank has a wide range of services like Internet Banking,
Mobile Banking, Tele Banking,Any Where Banki ng, debi t cards, onli ne bi ll payment and call cent re faci li t i es t o offer round
t he clock banki ng conveni ence t o i t s cust omers. The Bank has been a pi oneer i n providing innovative technological solutions to
its customers and the Bank has wonseveral awards and recommendations.
Fortis
is an international insurance group composed of AG Insurance, the overall marketl e a d e r i n l i f e a n d n o n - l i f e i n s u r a n c e i n
Be l g i u m, d i s t r i b u t i n g i t s i n s u r a n c e p r o d u c t s through the network of BNP Paribas Fortis Bank and independent insurance
brokers, and38
F o r t i s I n s u r a n c e I n t e r n a t i o n a l w i t h s u b s i d i a r i e s i n t h e U K , F r a n c e , H o n g
K o n g , Luxembourg (Non-li fe), Germany, Turkey, Russi a and Ukrai ne, and j oi nt vent ures i n Luxembourg (Life), Portugal,
China, Malaysia, Thailand and India.
ING Vysya Life
ING Vysya Life Insurance Company Private Limited (the Company) entered the privateli fe i nsurance i ndustry i n Indi a i n Sept ember
2001, and in a short span of 3 years hasest abli shed i t self as a di st i nct i ve li fe i nsurance brand wi t h an i nnovat i ve,
at t ract i ve andcust omer fri endl y product port foli o and a professi onal advi sor force. It also di st ri but es products in close
cooperation with the ING Vysya Bank network. The Company isheadquartered at Bangalore.
Kotak Life Insurance
Ko t a k Ma h i n d r a Ol d Mu t u a l Li f e I n s u r a n c e Lt d i s a j o i n t v e n t u r e b e t we e n Ko t a k M a h i n d r a B a n k
L t d . , i t s a f f i l i a t e s a n d O l d M u t u a l . A c o m p a n y t h a t c o m b i n e s i t s i n t e r n a t i o n a l s t r e n g t h s
a n d l o c a l a d v a n t a g e s t o o f f e r i t s c u s t o me r s a wi d e r a n g e o f innovative life insurance products, helping them in taking
important financial decisions atevery st age i n li fe and st ay fi nanci al l y i ndependent . The company i s one of t he
fast est g r o wi n g i n s u r a n c e c o mp a n i e s i n I n d i a a n d h a s s h o wn r e ma r k a b l e g r o wt h s i n c e i t s i n c e p t i o n i n
2 0 0 1 . Ko t a k Li f e I n s u r a n c e e mp l o y s a r o u n d 5 , 5 6 5 p e o p l e i n i t s v a r i o u s businesses and has 197 branches across
141 cities.
Old Mutual
Old Mut ual i s an int ernat i onal savi ngs and wealt h management company based in the UK. Originating in South Africa in 1845, it
is among the top 100 largestcompani es i n t he FTSE100. The group has a balanced port foli o of busi nesses offeri ng Asset
Management, Life Assurance, Banking and General Insurance Services in over 40count ri es, wi t h a focus on Sout h Afri ca, Europe and
t he Uni t ed St at es, and a growi ng39
presence in Asia Pacific. Old Mutual employs approximately 54,000 employeesworldwide with its primary listing on the London, secondary
listing on the Johannesburgstock exchanges as well as in Namibia, Malawi and Zimbabwe.
Max New York Life
Max New York Life Insurance Company Ltd.
i s a j oi nt vent ure bet ween Max Indi a L i m i t e d , o n e o f I n d i a ' s l e a d i n g m u l t i - b u s i n e s s c o r p o r a t i o n s
a n d N e w Y o r k L i f e I n t e r n a t i o n a l , t h e i n t e r n a t i o n a l a r m o f Ne w Yo r k Li f e , a F o r t u n e 1 0 0
c o mp a n y . Th e company has posi t i oned i t self on t he quali t y plat form. In li ne wi t h i t s
vision to be themost admired life insurance company in India
, i t has devel oped a st rong corporat egovernance model based on t he core values of excel l ence, honest y, knowl edge,
cari ng, integrity and teamwork.Incorporated in 2000, Max New York Life started commercial operation in April 2001. Inline with its values of
financial responsibility, Max New York Life has adopted prudentf i n a n c i a l p r a c t i c e s t o e n s u r e s a f e t y o f p o l i c y h o l d e r ' s
f u n d s . Th e Co mp a n y ' s p a i d u p capital as on 30th April, 2009 is Rs 1782 crore.Max New York Li fe has mult i -channel
di st ri buti on spread across t he count ry. Agencyd i s t r i b u t i o n i s t h e p r i m a r y c h a n n e l c o m p l e m e n t e d b y
p a r t n e r s h i p d i s t r i b u t i o n , bancassurance, alliance marketing and dedicated distribution for emerging markets. TheCompany
places a lot of emphasi s on i t s sel ect i on process for a gent advi sors, whi chcomprises four stages - screening, psychometric test,
career seminar and final interview.The agent advi sors are t rai ned i n-house t o ensure opt i mal cont rol on quali t y of
t rai ni ng. The company currently has around 82,248 agent advisors at 715 offices across 389 cities.The company also has 36 referral t i e -
ups wi t h banks, 24 part nershi p di st ri but i on andalliance marketing relationships each. Max New York Life
has put in place a unique huband spoke model of distribution to deepen our rural penetration.
This is the first time such40
a model has been put in place for rural marketing of insurance. The company has
139offices dedicated to rural areas.Max New York Life offers a suite of flexible products. It now
has 39 products covering both life and health insurance and 8 riders that can be customized to
over 800combinations enabling customers to choose the policy that best fits their
need. Besidest h i s , t h e c o mp a n y o f f e r s 6 p r o d u c t s a n d 7 r i d e r s i n
g r o u p i n s u r a n c e b u s i n e s s . The company currently has more than 11,178 employees.
Metlife India
MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. andwas
incorporated as a joint venture between MetLife International Holdings, Inc.,
TheJ ammu and Kas hmi r Bank, M. Pal l onj i and Co. Pr i vat e Li mi t ed and
ot her pr i vat einvestors. MetLife is one of the fastest growing life insurance companies in the
country.It serves its customers by offering a range of innovative products to individuals and
groupcustomers at more than 600 locations through its bank partners and company-
ownedoffices. MetLife has more than 50,000 Financial Advisors, who help
customers achieve peace of mind across the length and breadth of the country.Met Li f e,
I nc. , t hr ough i t s af f i l i at es , r eaches mor e t han 70 mi l l i on cus t omer s i n
t heAmericas, Asia Pacific and Europe. Affiliated companies, outside of India,
include thenumber one life insurer in the United States (based on life insurance
inforce), with over 140 year s of exper i ence and r el at i ons hi ps wi t h mor e t han
90 of t he t op one hundr edFORTUNE 500 companies. The MetLife companies
offer life insurance, annuities, automobile and home insurance, retail banking and other
financial services to individuals,as well as group insurance, reinsurance and retirement and
savings products and servicesto corporations and other institutions.
Reliance Life Insurance
Rel i ance Li f e I ns ur ance i s an as s oci at e company of Rel i ance Capi t al Lt d. ,
a par t of Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of
Indias leading41
private sector financial services companies, and ranks among the top 3 private sector financial
services and banking companies, in terms of net worth. Reliance Capital
hasi n t e r e s t s i n a s s e t ma n a g e me n t a n d mu t u a l f u n d s , s t o c k b r o k i n g ,
l i f e a n d g e n e r a l i ns ur ance, pr opr i et ar y i nves t ment s , pr i vat e equi t y and
ot her act i vi t i es i n f i nanci al services.
Reliance - Anil Dhirubhai Ambani Group
also has presence in Communications, Energy, Natural Resources, Media, Entertainment,
Healthcare and Infrastructure.
Sahara Life
The Sahara Pariwars latest foray is in the field of Life Insurance. The Pariwars
lifei ns ur ance company Sahar a I ndi a Li f e I ns ur ance Company Lt d. - has
been gr ant edlicence by the insurance regulator the IRDA on 6th February 2004. With this
approvalSahara India Life Insurance Company Ltd. becomes the first wholly and
purely Indiancompany, without any foreign collaboration to enter the Indian Life
insurance market. The launch is with an initial paid up capital of 157 crores. The Chairman of
the companyis Shri Subrata Roy Sahara who is also the Chairman of Sahara Pariwar.
SBI Life insurance
SBI Life Insurance Company Limited is a joint venture between the State Bank of Indiaand BNP
Paribas Assurance. SBI Life Insurance is registered with an authorized capitalof Rs 2000 crores and a Paid-up
capit al of Rs 1000 Crores. SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%.St a t e
Ba n k o f I n d i a e n j o y s t h e l a r g e s t b a n k i n g f r a n c h i s e i n I n d i a . Al o n g wi t h i t s 6 Associat e Banks,
SBI Group has the unrivalled strength of over 16, 000 branches across the country, arguably the largest in the
world.BNP Paribas Assurance is the life and property & casualty insurance unit of BNP Paribas- Euro Zones leading Bank.
BNP Paribas, part of the worlds top 6 group of banks bymarket value and a European leader in global banking and
financial services, is one of the42
o l d e s t f o r e i g n b a n k s w i t h a p r e s e n c e i n I n d i a d a t i n g b a c k t o 1 8 6 0 . B N P
P a r i b a s Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance
products offering protection to over 50 million clients. BNP ParibasAssurance operates in 41 countries mainl y through
the bancassurance and partnershipmodel.SBI Li fe has a unique mult i -distribution model encompassing
vibrant Bancassurance, Ret ai l Agency, Insti tutional Alli ances and Corporate Solutions distribution
channels. SBI Li fe ext ensi vel y leverages the SBI Group as a plat form for cross -selli ng insurance products
along with its numerous banking product packages such as housing loans and personal loans. SBIs access to over 100 million
accounts across the country provides avibrant base for insurance penetration across every region and economi c
strat a in thecountry ensuring true financial inclusion.Agency Channel, comprising of the most productive force of more than
68,000 InsuranceAdvisors, offers door to door insurance solutions to customers.
Shriram Life
Shriram Life Insurance Company is the joint venture between the Shriram Group and theSanlam Group.T h e S h r i r a m
G r o u p i s o n e o f t h e l a r g e s t a n d w e l l - r e s p e c t e d f i n a n c i a l s e r v i c e s conglomerates in India.
The Group's main line of activities in financial services includechit fund, truck financing, consumer durable financing, stock
broking, insurance brokinga n d l i f e i n s u r a n c e . Th e Gr o u p h a s a c u s t o me r b a s e o f 3 0 l a c s c h i t
s u b s c r i b e r s a n d investors and operates through a network of 630 offices all over the country. The Grouphas the largest
agency force in the private sector consisting of more than 75,000 loyal anddedicated agents.43
S a n l a m Li f e I n s u r a n c e Li mi t e d , a p a r t o f t h e Sa n l a m Gr o u p , i s o n e o f t h e l a r g e s t providers of
life insurance in South Africa with 3.2 million individual policies under administ ration. It has a signi fi cant presence
across South Afri ca, United Kingdom and Namibia and is a major provider of life insurance, retirement annuities, saving
andinvest ment products, personal loans, home loans and trust services to individual s. The shareholder's funds of
Sanlam Life equates to USD 4.4 billion.The Sanlam Group was established in 1918 and has a l eadership position
in financial services in South Africa. Demutualized in 1998, the group is listed on the JSE SecuritiesExchange in Johannesburg
and on the Namibian Stock Exchange. It has a current marketcapitalization of USD 5.4 billion. The Sanlam Group also operates
in the areas of groupschemes, retirement funds, short -t erm insurance, asset management and other
financi alservices. It has employee strength of 8, 000 and has shareholder funds in excess of USD4 . 6
b i l l i o n . On 3 1 s t De c e mb e r 2 0 0 4 i t h a d mo r e t h a n US D 4 8 b i l l i o n a s s e t s u n d e r management.
Star Union Dai-ichi Life
Bank of India and Union Bank of India, two leading Public Sector Banks in India and theDa i - i c h i Mu t u a l Li f e
I n s u r a n c e Co mp a n y , a l e a d i n g J a p a n e s e Co mp a n y i n t h e Li f e Insurance market, have float ed a
Joint Venture Company, "St ar Union Dai -ichi Li feInsurance Co. Ltd." for undertaking Life Insurance Business in
IndiaTh e Co mp a n y , h a s b e e n i n c o r p o r a t e d / r e g i s t e r e d wi t h t h e Re g i s t r a r o f
Co mp a n i e s , Maharashtra on 25th September, 2007. The Company has been issued the license
for undert aking li fe insurance business in Indi a by Insurance Regul atory and Devel opment Au t h o r i t y
( I RDA) o n 2 6 . 1 2 . 2 0 0 8 . Th e Co mp a n y h a s b e s t i n s u r a n c e , I T, f i n a n c e a n d investment resources to
ensure that it soon earns a prominent position in insurance sector.Th e Co mp a n y h a s a c a p i t a l s t a k e o f 5 1 % b y
BOI , 2 6 % b y Da i - i c h i Li f e a n d 2 3 % b y 44
U n i o n B a n k . T h e C o m p a n y h a s a u t h o r i z e d c a p i t a l o f R s . 2 5 0 . 0 0
C r o r e s . S t a r Un i o n Da i - i c h i Li f e , wi t h t h e s t r e n g t h o f t h e d o me s t i c p a r t n e r s i n t h e
I n d i a n Financial Sector coupled with the Dai-ichi Lifes strong domain expertise is expected, to be a strong player in the Indian
Life Insurance market in a short time. The Companyoffers various products to serve all strata of the society.Ba n k o f I n d i a
a n d Un i o n Ba n k h a v e a s t r o n g n a t i o n wi d e n e t wo r k o f mo r e t h a n 5 4 0 0 offices, which shall provide
distribution outlets with a wide reach. More than 48 millionstrong banking customer base of the two banks provides ready scope
for cross selling of insurance products. The two banks have strong brand equity, and command high level of trust among their
customers and people at large. Additionally the Regional Rural Bankssponsored by the t wo banks provide more than
1400 branches to tap the li fe-insurance business in the rural areas.Dai-ichi Life is a leading player in the Life Insurance
Segment in Japan and is one of the
top ten
Li fe Insurers in the world and the second largest Li fe Insurance Company inJapan. Establi shed in 1902, it
has more than a century of experience in Li fe Insurance business. It has sound product knowledge, sharp asset
management skills, and strongoperational capabilities to manage Life Insurance business, which make Dai-ichi Life the best
insurance JV partner on the domain side.St a r Un i o n Da i - i c h i Li f e I n s u r a n c e Co mp a n y Lt d . i s a l s o
c o mmi t t e d t o p r o v i d i n g i n s u r a n c e t o r u r a l a n d we a k e r / s o c i a l s e c t o r s . Bo t h t h e d o me s t i c
p a r t n e r s a r e i n t h e process of implementing Govt. of Indias initiative of Financial Inclusion and their panIndia network
of branches gives the Company a natural edge in catering to these sectorseffectively.Wi t h t h e s t r o n g b r a n d a n d
c o m m i t m e n t o f t h e p a r t n e r s , S t a r U n i o n D a i - i c h i L i f e I n s u r a n c e Co mp a n y Lt d .
p r o mi s e s t o b e a n e w s t a r o n t h e h o r i z o n o f t h e I n d i a n l i f e insurance business, promising value to all
stakeholders.45
Tata AIG
Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company,formed by the Tata Group and American
International Group, Inc. (AIG). Tata AIG Lifecombines the Tata Groups pre-eminent l eadership position in India
and AIGs global presence as one of the worlds leading international insurance and financial servicesorganization. The Tata
Group holds 74 per cent stake in the insurance venture with AIGh o l d i n g t h e b a l a n c e 2 6 p e r c e n t . T a t a
A I G L i f e p r o v i d e s i n s u r a n c e s o l u t i o n s t o individuals and corporates. Tata AIG Life Insurance Company
was licensed to operate inIndia on February 12, 2001 and started operations on April 1, 2001.

46
Chapter3
ResearchMethodology
47
Meaning of Research
Redman and Mory define research as a systemized effort to gain new knowledge. Some people consider research as a
movement, a movement from the known to the unknown.Research is an academic activity and as such the term should be used in
a technical sense.According to Cli fford Woody, research compri ses defining and redefining
problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data;making deductions and
reaching conclusions; and at last carefully testing the conclusionsto determine whether they fit the formulating hypothesis.
Objectives of Research
The purpose of research is t o discover answers to questi ons through the application of sci enti fic
procedures. The main ai m of research i s to find out the truth whi ch is hiddena n d wh i c h h a s n o t b e e n
d i s c o v e r e d a s y e t . Th o u g h e a c h r e s e a r c h s t u d y h a s i t s o wn s p e c i f i c p u r p o s e b u t t h e
r e s e a r c h o b j e c t i v e s c a n b e l i s t e d i n t o a n u m b e r o f b r o a d categories, as following:-
1.
To gain familiarity with a phenomenon or to achieve new insights into it. Studieswith this object in view are termed as
exploratory or formulative research studies.
2.
To portray accurately the characteristics of a particular individual, situation or agroup. Studies with this object in view are known
as descriptive research studies.
3.
To d e t e r mi n e t h e f r e q u e n c y wi t h wh i c h s o me t h i n g o c c u r s o r wi t h wh i c h i t i s associ ated wi th
something el se. Studi es wit h this object in view are known as diagnostic research studies.48
4.
To test a hypothesi s of a casual relationship bet ween variabl es. Such studies are known as hypothesis-testing
research studies.
2.3 Significance of Research
All process is born of inquiry. Doubt is often better than overconfidence, for it leads toinquiry and inquiry leads to invention. Is
a famous Hudson Maxim in context of whichthe significance of research can well be understood increased amounts of research
make progress possible.Research inculcates scientific and inductive thinking and it promotes the development of logical habits of
thinking and organization.The role of research in several fields of applied economics, whether related to business or t o t h e
e c o n o my a s a wh o l e , h a s g r e a t l y i n c r e a s e d i n mo d e r n t i me s . Th e i n c r e a s i n g complex nature of
business and government has focused attention on the use of researchi n s o l v i n g o p e r a t i o n a l p r o b l e ms . Re s e a r c h ,
a s a n a i d t o e c o n o mi c p o l i c y , h a s g a i n e d added importance, both for government and business.Research
methodology is a way to systematicall y sol ve the research problem. It may beunderstood as a science of studying
how research is done scientifically. In it we study thevarious steps that are generally adopted by a researcher in studying his
research problemalong with the logic behind them. It is necessary for the researcher to know not only theresearch methods or
techniques but also the methodology.
Data Collection Source
I n f o r ma t i o n c a n b e c o l l e c t e d t h r o u g h b o t h p r i ma r y a n d s e c o n d a r y s o u r c e s . Th e d a t a collected
for this project has been taken from the primary as well as secondary sources.
Primary Data:
In some cases the researchers may realize the need for collecting the firsth a n d i n f o r m a t i o n . A s i n t h e c a s e
o f e v e r y d a y l i f e , i f w e w a n t t o h a v e f i r s t h a n d information or any happening or event, we either ask
someone who knows about it or we49
observe it oursel ves, we do the both. Thus, the t wo met hods by whi ch pri mary dat a can be collected is
observation and questionnaire.
Secondary Data:
Any data, which have been gathered earlier for some other purpose, aresecondary dat a in the hands of researcher.
Those data coll ect ed first hand, either by ther e s e a r c h e r o r b y s o me o n e e l s e , e s p e c i a l l y f o r t h e
p u r p o s e o f t h e s t u d y i s k n o wn a s primary data.
Sources of secondary data are:-

Internet

Magazines

Publications

Brochures
Objectives of the Project

To determine the current status of the HDFC Standard Life Insurance CompanyLtd.

To find out the customers response towards HDFC Standard Life InsuranceCompany Ltd.

To study the satisfaction level of customers in different attributes of HDFCStandard Life Insurance Company Ltd.
Research Design
A research design is an arrangement of condition for the collection and analysis of datain a manner that aims to combine the
relevance to the research purpose with economy in procedure.50
I n f a c t , t h e r e s e a r c h d e s i g n i s t h e c o n c e p t u a l s t r u c t u r e w i t h i n w h i c h r e s e a r c h
i s conducted; it constitutes the blue print for the collection measurement and the analysis of the data. The research work which is
undertaken is to get a detailed knowledge about thecustomers response towards HDFC Standard Life Insurance Company Ltd.
1.
Qualitative research
: this is through

Personnel manual

Corporate website www.hdfc.com

Graphical interpretation
2.
Quantitative research

Design used: Exploratory
Sampling plan1.
Target Population:

Employees of HDFC Standard Life in Rohini branch, New Delhi
2.
Sampling Technique
:

Convenient sampling
3.
Sample Size
:

25
4.
Research Tool

Interview and questionnaire51
Chapter4
Data Analysis
52
DATA ANALYSIS
Question No. 1Respondent Age GroupPeople within the age of 45 years to 60 years comprise of the
maxi mumnumber of respondents i.e. 36% closely followed by people within the age of 30 years to 45 years i.e. 28%. Only 14%
of respondents age was more than60 years.
53
RESPONDENT's AGEGROUP
22%28%36%14%18-3030-4545-6060<
Question No. 2Respondent income group (per year)
RESPONDENT's INCOME GROUP
17%33%27%23%Below 50,00050,000-1,00,0001,00,000-2,00,000>2,00,000
R e s p o n d e n t s w h o s e a n n u a l i n c o m e l i e d b e t w e e n R s . 5 0 , 0 0 0 / - t o R s . 1,00, 000/ -
comprised of 33% of the tot al people int erviewed. Whil e 17%respondents income lied below Rs. 50,000/-.
54
Question No. 3Respondents Profession
RESPONDENT's PROFESSION
22%27%31%20%ServicemanBusinessmenProfessionalsOthers
O f a l l t h e p e o p l e i n t e r v i e w e d , 3 1 % o f t h e m w e r e P r o f e s s i o n a l s , 2 7 % consisted of
Businessmen, and 22% belonged to the Service Cl ass and the rest 20% were of other categories.
55
Question No. 4Are you aware about life insurance?
LIFE INSURANCE AWARENESS
63%37% YesNo
Approxi mat el y 2/3
rd
o f t h e p e o p l e i n t e r v i e w e d , w e r e a w a r e a b o u t t h e c o n c e p t o f l i f e i n s u r a n c e . A n d
t h e r e s t 1 / 3
rd
we r e u n a wa r e a b o u t l i f e insurance.
56
Question No. 5Do you know about IRDA?
KNOWLEDGE ABOUT I.R.D.A.
71%29% YesNo
A fai rl y better i mage emerged when people were questi oned about IRDA. 71% people knew about it and the rest
29% didnt have the knowledge aboutIRDA.
57
Question No. 6How many numbers of companies in life insurance are you aware of?
NO. OF COMPANIES IN LIFEINSURANCE SEGMENT
18%21%34%27%
OneTwo-Four Four-EightMore than Eight
When asked numbers of companies in life insurance are you aware of 34%of people knew about more than 4 compani es
but less than 8 compani es. And 27% people knew more t han 8 companies. Whereas onl y 18% people knew just
about one company.
58
Question No. 7D