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PREFACE

The importance of an academic course would gain advantage and acceptance of the true form, only through practical experience. Hence it is quite necessary to put the theories into talk. It is rigidly accepted that the theory widens ones thinking horizons viz. oncepts of marketing philosophies, !ut practice indicates the modern marketing and used in variety of settings of products. The summer training programmers are designed to give the manager the future of the corporate happenings and work culture. These real life situations are entirely different from the stimulated exercise enacted in an artificial environment inside the summer training programmers and designed, so that the manager to tomorrow do not feel ill case when the time comes to shoulder responsi!ilities. "ractical exposure for the #$% students is very necessary !ecause what they study in the classroom is not the reality. &ituation in the market is unknown and very much unpredicta!le. &o the practical experience is very much necessary this is made possi!le with the summer training pro'ect in $a'a' %llianz (ife Insurance the "otential Insurance onsultants. o. in marketing related to search for

%ll organizations involves into !usiness with some o!'ective and one of the o!'ectives is to endorse product or service which they produce. In my marketing pro'ect I tried to fid out the potential Insurance for the $a'a' %llianz (ife Insurance there will !e as many Insurance policies which company sale through its Insurance onsultants through questionnaire onsultants. &o its quite clear that o. The product for the insurance company is its

onsultants. There will !e increased sales.

ACKNOWLEDGEMENT
I want to thank to those people who helped me in this summer training research pro'ect. *irst of all I would like to express my profound gratitude to the Branch Head of Bajaj Allianz Life n!"rance Co# Aj$er# Mr% A$i& Gandhi who gave me this opportunity to do this pro'ect. He always remained a wonderful guide and supporter throughout this pro'ect. I am extremely grateful to %ll +*aculty,, Ar'a(ha&&a Colle)e# Aj$er for providing me the proper guidance in preparation of this pro'ect report. %t the end I want to say thanks to all persons involved in this pro'ect directly or indirectly.

TABLE OF CONTENTS
*% E+ec"&i,e -"$$ar' .% A(o"& Life n!"rance -ec&or /% nd"!&r' O,er,ie0 1% Co$2an' Profile 3% A(o"& Policie! Of Bajaj Allianz 4% Di!&ri("&ion Channel 5% Re!earch Me&hodolo)' 6% -WOT Anal'!i! 7% Findin)!
*8% Reco$$enda&ion! **% Bi(lio)ra2h'

*.% 9"e!&ionnaire

E:EC;T <E -;MMAR=

%t the present time of cut throat competition in every industry every company want to top the chart and want to show as !ig as possi!le figure of profits in its !alance sheet. It is quite clear today that at present time the growth of any organization is possi!le only with the help of hard working and well focused staffs that are the !ack!one of any organizations. It was my great pleasure that I did my summer training from $a'a' %llianz (ife Insurance o. where I got to know that in Insurance industry the skills of the man onsultants help the power matters most and increasing num!er of Insurance organization. &o it is quite clear that Insurance $a'a' %llianz (ife Insurance o.

organization to increase its issuance of policies which in turn result in growth for the onsultants matter most for the

#y 'o! was to create the data!ase for the organization so that the num!er if Insurance onsultants could !e increased. #y 'o! was to approach the individuals onsultant, within the who are interested in 'oining the organization as Insurance

limitations like related to age, related to qualification, and then his/her details with the help of questionnaire. I visited various areas of 0elhi, 1hazia!ad in order to meet different types of people.

WHAT - L FE N-;RANCE

*irst of all we should come to know that what is (ife Insurance. The different definitions descri!ing life Insurance are as34 5Insurance in which the risk insured against is the death of a particular person, the insured, upon whose death while the policy is in force, the insurance company agrees to pay a stated sum or income to the !eneficiary. (ife Insurance pays a specified sum to the !eneficiaries upon the death of the insured. It is generally used to provide cash to your family in the event of your death. There are several types of life insurance whole life insurance provides a lifetime of protection as long as you pay the premiums to keep the policy active. They also accrue a cash value and thus offer a savings component. Term life insurance provides protection only during the term of the policy and the policies are usually renewa!le at the end of the term. Insurance on human lives including endowment !enefits, additional !enefits in event of death or dismem!erment !y accident or accidental means, additional !enefits for disa!ility, and annuities6.

ND;-TR= O<ER< EW

L FE N-;RANCE ND;-TR= N ND A
#any may not !e aware that the life insurance industry of India is a s old as it is in any other part of the world. The first Indian (ife Insurance 9riental life Insurance ompany was the ompany, which was started in India in ):): at ;olkata. %

num!er of players +over -7< in life and a!out )<< in non4life, mainly with regional focus flourished all across the country. However, the 1overnment of India, concerned !y the unethical standards adopted !y some players against the consumers, nationalized the industry in two phases in )=78 +life, and )=>- +non4life,. The insurance !usiness of the country was then !rought under two pu!lic sector companies, (ife Insurance orporation of India +1I ,. ?ith such a large population and the untapped market area of this population Insurance happens to !e a very !ig opportunity in India. Today it stands as a !usiness growing at the rate of )74-< percent annually. Together with !anking services, it adds a!out > percent to the countrys 10". In spite of all this growth the statistics of the penetration of the insurance in the country is very poor. @early :<A of Indian populations are without (ife Insurance cover and the Health Insurance. This is an indicator that growth potential for the insurance sector is immense in India. It was due to this immense growth that the regulations were introduced in the insurance sector and in continuations 5#alhotra ommittee6 was constituted !y the ommittee government in )==. to examine the various aspects of the industry. The orporation of India +(I , and 1eneral Insurance

recommended throwing open the sector to private players to usher in competition and !ring more choice to the consumer. The o!'ective was to improve the penetration of insurance as a percentage 10", which remains low in India even compared to some developing countries in %sia. The key element of the reform process was "articipation of overseas insurance companies with -8A capital. economy as the main idea !ehind the reform. reating a more efficient and competitive financial system suita!le for the requirements of the

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A BR EF H -TOR=

The origin of insurance is very old. The time when we were not even !ornB was has sought some sort of protection from the unpredicta!le calamities of the nature. The !asic urge in man to secure himself against any form of risk and uncertainty led to the origin of insurance. The insurance came to India from C;B with the esta!lishment of The 9riental Insurance orporation in ):):. the Indian (ife Insurance company act )=)- was the first statutory !ody that started to regulate the (ife Insurance !usiness in India. $y )=78 a!out )72 Indian, )8 foreign and >7 provident firms were !een esta!lished in India. Then the central government took over these companies and as a result the (I was formed. &ince then (I has worked towards spreading (ife Insurance and !uilding a wide network across the length and the !reath of the country. %fter the li!eralization the entrance of foreign players has added to the competition in the market. The 1eneral Insurance !usiness in India, on the other hand, can trace its roots to the Triton Insurance ompany (td, the first 1eneral Insurance ompany esta!lished in the year ):7< in alcutta !y the $ritish. In )=7> 1eneral Insurance

ouncil, a wing of the Insurance %ssociation of India, frames a code of conduct for ensuring fair conduct and sound !usiness practices. In )=>- the 1eneral Insurance $usiness in India with effect from ) s t Danuary )=>.. it was after this that )<> ompany (td, the 9riental Insurance insurers amalgamated and grouped into four companies viz. the @ational Insurance ompany (td, the @ew India %ssurance ompany (td. 1I incorporated as a company .

N-;RANCE -ECTOR REFORMIn )==., #alhotra ommittee headed !y former *inance &ecretary and E$I 1overnor was formed to evaluate the Indian industry and give its recommendations. The committee came up with the following ma'or provisions34 :

"rivate

ompanies with a minimum paid up capital of Es. ) !n should !e

allowed to enter the industry. *oreign companies may !e allowed to enter the industry in colla!oration with the domestic companies. 9nly one state level (ife Insurance state. Eeforms were initiated with the passage of Insurance Eegulatory and ompany should allow to operate in each

0evelopment %uthority +IE0%, $ill in )===. IE0% was set up as an independent regulatory authority, which has put in place regulations in line with glo!al norms.

RDA > The IE0% since its incorporation as a statutory !ody has !een framing
regulations and registering the private sector insurance companies. IE0% !eing an independent statutory !ody has put a framework of glo!ally compati!le regulations .

N-;RANCE MARKET N ND A

$y any yardstick, with a!out -<< million middle class households, presents a huge untapped potential for players in the insurance industry. &aturation of markets in many developed economies has made the Indian market even more attractive for glo!al insurance ma'ors. ?ith the per capital income in India expected to grow at over 8A for the next )< years and with improvement in awareness levels, the demand for insurance is expected to grow at an attractive rate in India. %n independent consulting company, the #onitor 1roup has estimated that the (ife Insurance market will grow.

W ND- OF CHANGE
Eeforms have marked the entry of many of the glo!al insurance ma'ors into the Indian market in the form of 'oint ventures with Indian companies. &ome of the keys names are %I1, @ew Fork (ife, %llianz, "rudential, &tandard (ife, &un (ife anada and 9ld #utual. The entry of new players has re'uvenated the erstwhile monopoly player (I . ?hich has responded to the competition in an admira!le fashion !y launching new products and improving service standards.

Mar?e& E+2an!ion >


There has !een an overall expansion in the market. This has !een possi!le due to improved awareness levels thanks to the large num!er of advertising campaigns launched !y all the players. The scope for expansion is still unlimited as virtually all the players are concentrating on large cities and towns G except !y (I to an extent there was no significant attempt to tap the rural markets.

Ne0 Prod"c& Offerin)! >


There has !een a plethora of new players, mainly from the sta!le of their international partners. ustomers have tremendous choice from a large variety of ustomers are )< products from pure term insurance to unit4linked investment products.

offered un!undled products with a variety of !enefits as riders from which they can

choose. #ore customers are !uying products and services !ased on their true needs and not 'ust traditional money4 !ack policies, which is not considered very appropriate for long4term protection and savings. However, there are still some key new products yet to !e introduced G e.g. health products.

C"!&o$er -er,ice >


@ot unexpectedly, this was one area that witnessed the most significant change with the entry of new players. There is an attempt to !ring in international !est practices in service and operational efficiency though use of latest technologies. %dvice and need !ased selling is emerging through much !etter trained sales force and advisors. There is improvement in response and turnaround times in specific areas such as delivery of first policy receipt, policy document, premium notice, final maturity payment, settlement of claims etc. However, there is a long way to go and various customer surveys indicate that the standards are still !elow customer expectation levels .

Channel! of Di!&ri("&ion >


Till two years !ack, the only mode of distri!ution of life insurance products was through %gents. ?hile agents continue to !e the predominant distri!ution channel, today a num!er of innovative alternative channels are !eing offered to customers. &ome of them are !ancassurance, !rokers, the internet and direct marketing. Though it is too early to predict, the wide spread of !ank !ranch network in India could lead to !ancassurance emerging as a significant distri!ution mechanism. The introduction of private players in the industry has added to the colors in the dull industry. The initiatives taken !y the private players are very competitive and have given immense competition to the on time monopoly of the market (I . &ince the advent of the private players in the market the industry has seen new and innovative steps taken !y the players in this sector. The new players have improved the service quality of the insurance. %s a result (I players. (I down the years have seen the declining phase in its career. The market share was distri!uted among the private market share has decreased from =7A +-<<-4<., to :-A +-<<24<7,. ))

The following companies has the market share of the life insurance industry.

Insurance Company
LIC ICICI Prudential Bajaj Allianz !FC "tandard Li#e "BI Li#e Birla "un Li#e 'a( )e* +,r- Li#e. /A/A AI0 A1i1a 2' 3,ta- 'a4indra I)0 56a7a 8elian9e 'etLi#e

Market Share (Fig. in %)


71.44 11.35 7.06 $.37 1.%1 1.4& 0.&% 0.7& 0.%& 0.%6 0.57 0.37 0.$4

Ma rke t S ha re of Li fe Ins ura nc e Compa ni es a s of Ma y 2 00 6

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C;RRENT -CENAR O OF THE N-;RANCE ND;-TR= N ND A


India with a!out -<< million middle class household shows a huge untapped potential for players in the insurance industry. &aturation of markets in many developed economies has made the Indian market even more attractive for glo!al insurance ma'ors. The insurance sector in India has come to a position of very high potential and competitiveness in the market. Innovative products and aggressive distri!ution have !ecome the say of the day Indians, have always seen (ife Insurance as a tax saving device, are now suddenly turning to the private sector that are providing them new products and variety for their choice. (ife Insurance industry is waiting for a !ig growth as many Indian and *oreign companies are waiting in the line for the green signal to start their operations. The Indian onsumer should !e ready now !ecause the market is going to give them all array of products, different in price, features and !enefits. How the customer is going to make his choice will determine the future of the industry.

C;-TOMER -ER< CE
onsumers remain the most important centre of the insurance sector. %fter the entry of the foreign players the industry is seeing a lot of competition and thus improvement of the customer service in the industry. omputerization of operations and updating of technology has !ecome imperative in the current scenario. *oreign players an !ringing in international !est practices in service through use of latest technologies. The one time monopoly of the (I players. and its agents are now going through a through revision and training programs to catch up with the other private

).

D -TR B;T ON CHANNELTill date insurance agents still remain the main source through which insurance products are sold. The concept is very well esta!lished in the country like India !ut still the increasing use of other sources is imperative. It therefore makes sense to look at well G !alanced, alternatives channels of distri!ution. (I has already well esta!lished and have an extensive distri!ution channel

and presence. @ew players may find it expensive and time consuming to !ring up a distri!ution channel to have an advantage. %t present the distri!ution channels that are availa!le in the market are3 0irect &elling orporate %gents

1roup &elling $rokers and ooperative &ocieties

$ancassurance To make all these channels a success the companies have to !e very alert and skillful to know how to use these channels in a proper way. $ancassurance is on of the most upcoming channels of distri!ution.

BANCA--;RANCE
India has an extensive !ank network esta!lished over the years. ?hat Insurance companies have to do is to 'ust take advantage of the customers long4 standing trust and relationships with !anks. This is a mutually !eneficial situation as !anks can also expand their range of products on offer to customers, while the insurance company will also earn profits from the exposure. %nother advantage is that !anks, with their network in rural areas, help to fulfill rural and social o!ligations stipulated !y the n!"rance Re)"la&or' and De,elo2$en& A"&hori&' @ RDAA recently.

Insurance companies should see (anca!!"rance as a tool for increasing their market )2

penetration in India. It is also good for the one who sees !ancassurance in terms of reduced price, high quality product and delivery at doorsteps. Hvery!ody is a winner here. The creation of !ancassurance operations has made an important impact on the financial services industry at large. This is though a new concept !ut it has gained a lot of importance in the industry at present and has a great future.

PROD;CT NNO<AT ON
ustomers have tremendous choice from a large variety of products from pure term insurance to unit4linked investment products. ustomers are offered un!undled products with a variety of !enefits as riders from which they can choose. #ore customers are !uying products and services !ased on their true needs and not 'ust traditional money4 !ack policies, which is not considered very appropriate for long4 term protection and savings.

R;RAL MARKET NG
Eural India seems to have an appetite for mo!ile phones, computers, and cars and to add to it we have insurance. In India with the private players having entered into the insurance industry, the expected explosion in 'o! opportunities may not actually happen !ut for them the catchments area is the opportunities in the rural India. In India the insurance !usiness can !e said to !e 5a marathon, not a sprint6. This is !ecause of the nature of the !usiness !eing long term. However it seems that they if not anything, are only increasing their spending, though only out of the capital. %s insurance companies go more and more rural in search of !usiness, there will !e opportunities in the rural sector. %lready Cnited India The Eural consumer is now exhi!iting an increasing propensity for Insurance products. % research conducted exhi!ited that the rural consumers are willing to dole out anything !etween Es. .,7<< and Es. -,=<< as premium each year. In the Insurance the awareness level for (ife Insurance is the highest in rural India, !ut the customers are also aware a!out motor, accidents and cattle insurance. %ccording to a study nearly one third said that they had purchased some kind of insurance with the maximum penetration skewed in favor of life insurance. The study also pointed out the private companies have huge task to play in creating awareness and credita!ility among the rural populace. )7

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NFORMAT ON TECHNOLOG= AND N-;RANCE


In the insurance industry today, there is a clear trend away from selling a !road range of products to a large volume of customers in a one4 size4fits4all manner. Instead of focusing on their different products lines as silos +i.e., life, property and casualty etc, insurers are looking for ways to offer highly targeted insurance products that are tailored to the individuals customers with the highest propensity to !uy them. Insurance industry is a data4rich industry, and thus, there is desire need to use the data for trend analysis and personalization. ?ith increased competition among insurers, service has !ecome a key issue. "eople today dont want to accept the current value propositions, they want personalized interactions and they look for more and more features and add ones and !etter service. Today managing the customer intelligently is very critical for the insurer especially in the very competitive environment. ompanies need to apply different set of rules and treatment strategies to different customer segments. ?ith the explosion of ?e!site and greater access to direct or policy information, there is a need to developing !etter techniques to give customers a truly personalized experience. "ersonalization helps organizations to reach their customers with more impact and to generate new revenue through cross selling and up selling activities. To ensure that the customers are receiving personalized information, many organizations are incorporating knowledge data!ase4repositories of content that typically include a search engine and lets the customers locate the all document and information related to their queries of request for services. ustomers can here!y use the knowledge data!ase to manage their products or the company information and invoices, claim records, and histories of the service inquiry. These products also may !e a!le to learn from the customers previous knowledge data!ase and to use their information when determining the relevance to the customers search request. The insurance sector remains a very competitive market and those companies that are a!le to !est utilize their data and provide their customer with the most personalized options will have the distinct competitive advantage.

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MERGER- AND AC9; -T ONThis is an era of mergers and acquisitions. "rivate companies including #@ s are amalgamating the world over to get more competitive edge. urrently, the general insurance industry has !een opened up. The insurers are doing enough to raise the level of risk awareness or are they merely content to compete in the markets organized and esta!lished. The private players in the future would have to turn their attention to working in the unorganized and under served markets. ?hat is likely to happen is that the private players would continue to skim the profita!le segments of the already organized !usiness in the ur!an areasI The time has already come for the government of India to evaluate the performance of private companies. However it is high time for the government to realize that importance of merging the pu!lic sector general insurance companies into single entity. The recent scenario calls for a !etter performance from part of each of the pu!lic sector insurance companies against each other. The result what we see is the undercutting to retain or wrest !usiness and quoting an uneconomical rate of premium. ?hile this allows one of the "u!lic &ectors ompany to win a !usiness form another in this manner. The others suffer a loss and the resultant effect is a canni!alization with a fall in the average premium of the pu!lic sector itself. The purpose of having four companies all su!sidiaries of General Cor2ora&ion of ndia @G CA B Na&ional n!"rance Co$2an'# A!!"rance Co$2an'# Orien&al n!"rance ndia ndia

Ne0

n!"rance Co$2an'# and The ;ni&ed

n!"rance Co$2an'C at the time of nationalization was to have competition among themselves G in service and products at the same price. @ow with real competition coming in with most of the glo!al insurance players setting footprints here, it is felt that the time for merger has come and to en'oy the !enefits if the size. It is to !e stated that size does matter in insurance !usiness. %ll over the worlds mergers and acquisitions in the risk4underwriting sector is common. The !enefits if the four insurance companies merge will !e enormous. The merged entity will en'oy higher underwriting and risk retention capacityB increase in ):

reinsurance premium, reduction in reinsurance outflow, healthy solvency margins, setting right the asset4lia!ility mismatch and reduction in cost. The loss of profita!le !usiness in view of undeserved competition among the pu!lic sector companies is hampering the su!sidization of social insurance including the motor third party lia!ility +T"(,. It is thus clear that it is good for the pu!lic sector companies to merge immediately when they are still strong, lest a merger !ecomes inevita!le later after the independent pu!lic sector companies fail one after another.

-TRATEG C ALTERNAT <EIf one analyses the history of growth of the insurance industry since reforms, it is marked !y all4 round growth of all players. #ore or less all players have aggressively recruited products, improved and trained advisors, appointed standards and agents, launched new their customer service revamped/expanded

distri!ution networks. Hvery player would like the customers to !elieve that its service standards are the !est or that its agents are the most informed and ethical. In other words, each company is trying to !e Jeverything to every!ody. &ome players 'ustify the a!ove strategy on the !asis that the Indian market is huge and it can accommodate every!ody. &till, in a market where it is difficult to distinguish oneself sufficiently on service or any other parameter to !e a!le to charge a premium, it will lead to unmitigated price competition to the detriment of all players. In the insurance industry where large amounts of capital are required, this is risky. ?hile there is room for a few scale players with a finger in every pie, it is profita!le for the players to focus on different segments to survive and thrive in a multi4firm open environment. ?hile each company has to choose its own unique positioning !ased on its unique strengths.

<arie&'D(a!ed Po!i&ionin)
This type of positioning is !ased on varieties in products and services rather than customer segments. It is a sensi!le strategy for those companies who have distinctive advantages or strengths in offering certain products and services.

)=

In the insurance industry too, it is possi!le to achieve a unique position !y focusing on certain category of products. Through its superior fund management capa!ilities, the insurance company can deliver !etter returns on it investment4linked products and there!y for itself a leadership position in this segment. Then there is the entire category of pension products, which is widely touted to have immense growth potential in India due to imminent pension reforms. It is possi!le to achieve profita!le positioning !y focusing and excelling in only pension products.

Need! B(a!ed Po!i&ionin)


This is the most commonly understood positioning and is !ased on the different needs of different groups of consumers. This can !e done successfully if a company has unique strengths to service a group of customer needs !etter than others. The insurance needs of young family with small children will !e quite different from that of a family in which the income4earner is close to retirement. However, in India most of the (ife Insurance companies have a wide variety of products of different customer needs and there is no company focusing only on a particular customer needs.

Acce!!D (a!ed Po!i&ionin)


"ositioning of customers can also !e done !y the way they are accessi!le that is different groups of customers may !e accessi!le in different ways even though they may have similar needs. %ccess is typically a function of customer scale. There is excellent opportunity in the insurance industry to employ access4 !ased positioning !y targeting the rural insurance sector. The rural market for (ife Insurance is very different from the ur!an market in terms of needs, income levels, distri!ution, penetration of media and so on. Hxcept for (I , no other player has paid any attention or focus on the rural sector. ontrary to common perception it is a !ig opportunity as emphasized repeatedly !y such eminent strategies like C%K%Prahlad% Eural market can !e a highly profita!le position if one is a!le to carefully plan.

CHOO- NG THE R GHT -TRATEG=


-<

The right strategic choice is not a matter of positioning choice alone. It is the configuration of the entire value chain of the company through a different set of activities to deliver unique value to consumers. The set of activities cover all upstream and downstream activities, from the selection of the product mix. &ome (ife Insurance companies focusing on rural markets have adopted innovative means of distri!ution. Instead of appointing agents as is done typically, they have used 1ramsevaks in different villages across the country to promote (ife Insurance and act as their sales arm. &o we can conclude that, the size of the market has grown and the size of the insura!le population in India is indeed vast and the existing players have managed to cover a!out one4fourth of it. The falling interest rates, the collapse of many small G time financial institutions, the scope for entering related areas like !anking and pensions in a !id for synergy and the promise of the e4commerce are some of the other opportunities knocking at the doors of the insurance ma'ors. % num!er of we! sites are coming up on insurance, a few financial magazines exclusively devoted to insurance and also a few training institutes !eing set up hurriedly. #any of the universities and management institutes have already started courses in insurance. (ife insurance has today !ecome a mainstay of any market economy since it offers plenty of scope for garnering large sums of money for long periods of time. % well regulated (ife Insurance industry which moves with the times !y offering its customers tailor4made products to satisfy their financial needs is, therefore, essential if we desire to progress towards a worry4free future.

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COMPAN= PROF LE

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ABO;T BAEAE ALL ANF L FE N-;RANCE Mi!!ion> %s a responsi!le customers focused market leader, we still strive to
understand the insurance needs of the consumers and translate it into afforda!le products that deliver value for money .

<i!ion> To !e the first choice insurer for customers. To !e the preferred employee for staff in the insurance industry. To !e the num!er one insurer for creating shareholder value.
-AM GHO-H , who was the #anager and is also the H9 of $a'a' %llianz earlier has taken over as country H9 of $a'a' %llianz (ife Insurance ompany .

Bajaj Allianz Life n!"rance Co$2an' Li$i&ed


$a'a' %llianz (ife Insurance o. (td is a 'oint venture !etween two leading conglomerates4, and $a'a' %uto, one of the !iggest two and three4wheeler manufacturers in the world and %llianz %1, one of the worlds largest insurance companies.

Bajaj Allianze Life n!"rance


Is the fastest growing private life insurance company in India. urrently have over .<<<<< satisfied customers. Have ustomer care centers in )78 cities with -:<<< Insurance onsultant

providing the finest customer service. 9ne of Indias leading private life insurance companies.

Bajaj Allianz General n!"rance Co$2an' Li$i&ed


$a'a' %llianz 1eneral Insurance expertise, sta!ility and strength. -2 ompany (imited is a 'oint venture !etween $a'a' %uto (imited and %llianz %1 of 1ermany. $oth en'oy a reputation of

$a'a' %llianz 1eneral Insurance received the Insurance Eegulatory and 0evelopment %uthority +IE0%, certificate of Eegistration +E., on #ay - n d , -<<) to conduct 1eneral Insurance !usiness +including Health Insurance !usiness, in India. The ompany has an authorized and paid up capital of Es.))< crores. $a'a' %uto holds >2A and %llianz holds the remaining -8A. %1, 1ermany. In its first year of operations the company has acquired the @9. ) status among the private non4life insurers. %s on .) s t #arch -<<., $a'a' %llianze 1eneral Insurance maintained its leadership position !y garnering a premium income of Es..<< crores. $a'a' %llianze today has a network of 2< offices spread across the length and !readth of the country. *rom &urat to &liliguri and Dammu to Thiruvananthapuram, all the .: offices are interconnected with the Head 9ffice at "une . In the first half of the current financial year, -<<24<7, $a'a' %llianz generated a 2re$i"$ inco$e of R!%183 crore!# achieving a growth of :2A and registered a 7-A growth in @et profit of Es. -< rores over the last year for the same period. In rores, which is a 'ump rores. the financial year -<<.4<2, the premium earned was Es.2:< of 8<A and the profit zoomed !y )-7A to Es. -).8A rores. $a'a' %llianze also !ecame one of the few companies to make a profit in its first full year of operations. $a'a' %llianz made a profit after tax of Es.=.8

-hareholder! G Pro$o&er! Bajaj A"&o Li$i&ed


$a'a' %uto (imited is the largest manufacturer of two and three4wheelers in India and also one of the largest manufacturers in the world. $a'a' %uto has !een in operation for over 77 years. %s a promoter of $a'a' %llianz 1eneral Insurance ompany (td., $a'a' %uto has the following to offer 3 Kast distri!ution network. ;nowledge of Indian consumers. *inancial strength and sta!ility to support the insurance !usiness -7

Allianz AG# Ger$an'


%llianz 1roup is one of the worldLs leading insurers and financial services providers. *ounded in ):=< in $erlin, %llianz is now present in more than >< countries with over )>>,<<< employees. %t the top of the international group is the holding company, %llianz %1, with its head office in #unich. %llianz 1roup provides its more than 8< million customers worldwide with a comprehensive range of services in the areas of "roperty and casualty insurance, (ife and health insurance, %sset management and !anking. In fiscal year -<<7, %llianzLs total revenues amounted to some )<<.= !illion euros. %t the end of -<<7 %llianz 1roup had more than ).-8 trillion euros in assets under management. 9f this, >2. !illion euros were assets managed for third parties.

Hi!&or' of Allianz
0ocumenting and researching its corporate history is part and parcel of the corporate culture of %llianz %1. The %llianz memoryM. enter for orporate History devotes itself to these tasks. %s a frequently used information center, it has evolved into the companyLs Mliving

Glo(al Pre!ence
%llianz 1roup is present on every continent and has companies and offices in a!out >< countries. #ore information a!out our locations throughout the world is availa!le !y moving the cursor over the world map.

B"!ine!! Field! D "roperty N asualty Insurance

-8

?hen it comes to property and casualty insurance, %llianz is num!er one in 1ermany. %llianz also ranks as one of the worldLs leading glo!al industrial risk insurers.

Life G Heal&h n!"rance


In life and health insurance, %llianz 1roup is among the top companies in Hurope. "rivate and corporate retirement provision is emerging as a ma'or market

A!!e& Mana)e$en& G Ban?in)


%llianz 1roupLs asset management activities are integrated under one roof at %llianz 1lo!al Investors. ?ith 0resdner $ank, the %llianz 1roup has laid a !road foundation in order to address clientsL needs on the investment market.

%llianz %1 is in the !usiness of 1eneral +"roperty N

asualty, InsuranceB (ife N

Health Insurance and %sset #anagement and has !een in operation for over ))< years. %llianz is one of the largest glo!al composite insurance with operations in over >< countries. *urther, the 1roup provides Eisk #anagement and (oss "revention &ervices. %llianz has insured most of the worlds largest infrastructure pro'ects +including Honkong %irport and hannel Tunnel !etween C; and *rance,, further %llianz insures the ma'ority of the fortune 7<< companies, !esides !eing a large industrial insure, %llianz has a su!stantial portfolio in the commercial and personal lines sector, using a wide variety of innovative distri!ution channels.

Allianz AG ha! &he follo0in) of offer Bajaj Allianz General n!"rance Co$2an' L&d%>
&et up and running of 1eneral insurance operations @ew and improved international products 9ne of the worlds leading insurance companies #ore than ><< su!sidiaries and - lac employees in over >< countries worldwide "rovides insurance to almost half the *ortune 7<< companies

->

A Par&ner!hi2 Ba!ed on -'ner)'


$a'a' %llianz 1eneral Insurance ompany offers technical excellence in all areas of 1eneral and Health Insurance as well as Eisk #anagement. This partnership successfully com!ines $a'a' %utos in4depth understanding of the local market and extensive distri!ution network with the glo!al experience and technical expertise of the %llianz 1roup. %s a registered Indian Insurance Es.))< crores, the company is3 *ully licensed to underwrite all lines of general insurance !usiness including health with management control !y %llianz %1 ompany and a capital !ase of

A(o"& Bajaj Allianz Life n!"rance>


$a'a' %llianz (ife Insurance cater ompany has developed insurance solutions that to every segment and age4income profiles. Its products include Invest 1ain +a ash 1ain +#oney $ack,, hild 1ain+ hildrens plan

unique life insurance plan where sustenance of income is com!ined in the same plan that also pays a lump sum,, ash 1ain +#oney $ack,, Time where sustenance of income is com!ined in the same plan that also pays a lum sum,, hild 1ain + hildrens "lan,, Eisk care +"ure Term,, (ife are +term with return of premium,, &warna Kishranti are +whole (ife,, term

+Eetirement "lan,, "rotector +#ortgage term insurance plan,, Cnit1ain +Cnit (inked ?hole of (ife "lan, and Cnit 1ain &ingle "remium. $a'a' %llianz (ife Insurance is poised for an accelerated growth in the market and has already !ecome the fastest growing private life insurance company in India. $a'a' %llianz (ife Insurance has a wide pan India presence of office network in )78 citied of the country and is aided with a strong and trained %gency network of over -:<<< agents. $a'a' %llianz has also forged strong $anc assurance and deep market penetration. $a'a' %llianz (ife Insurance has launched a slew of need4!ased products to cater to each varied needs of the customer. urrently $a'a' %llianz (ife Insurance has a product portfolio of )= products and more need4!ased products are in the pipeline . orporate %gency relationship and continues to !uild on new tie4ups for fast track growth and

-:

Bajaj Allianz )eneral n!"rance> *.3 2ercen& 2rofi& ncrea!e


$a'a' %llianz 1eneral Insurance vehicles and the %llianz 1roup. $a'a' %llianz 1eneral Insurance offers technical excellence in all areas of general and health insurance and risk management. The partnership successfully com!ines $a'a' %utos extensive understanding of the local market and expansive distri!ution with %llianz 1roups glo!al experience and technical expertise. $a'a' %llianz 1eneral Insurance is headquartered in "une and has a wide network of 2< offices spanning the country. %ll the offices are fully networked. The company received the IE0% registration in may -<<) Btoday, it already has a vast range of 27 products to suit its corporate and retail customers. The company has also pioneered in unique forms of risk cover. In the year -<<.4-<<2, the company garnered a premium income of approximately 2.: !illion Eupees +:8 million Huros, with a profit after tax of --< million Eupees +..= million Huros,B it sold ).- million policies. ?ith this result, it achieved a net profit growth of )-7 percent, gross written premiums 'umped !y over 8< percent. ompany (imited is a 'oint venture company !etween $a'a' %uto (td., Indias leading manufacturer of two and three wheeler

Allianz Bajaj Chan)ed &! Na$e To Bajaj Allianz Life n!"rance


%llianz $a'a' (ife Insurance %llianz (ife Insurance o. (td., the fastest growing private life insurance co. today announced that it has changed its corporate name to $a'a' o. (td, effective from %ugust <., -<<2. The change in company name comes in con'unction with research findings from existing customers, !usiness associates, prospective customers and other stakeholders indicates higher comfort level and ease of recalling $a'a' name first and then %llianz, and hence the name $a'a' %llianz. $a'a' %llianz 1eneral Insurance Insurance ompany (imited and $a'a' %llianz (ife ompany (imited will now have a common logo and !randing which will

help in increasing our visi!ility and familiarity, which will create a much larger awareness and a greater mind share. The new logo incorporates the new $a'a' %uto logo. -=

ommenting on this occasion #r. &am 1hose #anager, %llianz and

H9,

$a'a' %llianz (ife Insurance said, we are not only acquiring a new name, but have put in motion a new level of energy and commitment to delivering the best products. The name change coupled with aggressive strategic market initiatives to reach service customers better will give us an unbeatable position in the insurance market in this country and both Life and General companies together can unleash the ower of !ne" and be the leader in the insurance industry.# $a'a' %llianz (ife Insurance recently launched over )<< satellites !ranches, new life and non4life group products, which has helped $a'a' %llianz +formerly known as %llianz $a'a', to log in Es.)<< r. 1ross ?ritten "remium +1?", in the first )<< days of this financial year and has leaped to - n d position as per IE0% figures ending Dune <2, from its > t h position at the end of last financial year. $a'a' %llianz (ife Insurance has also !rought in the key executives, to infuse greater thrust, new ideas, efficiency and professionalism to impart state of the art servicing to the customers across the length and !readth of the country.

CORE COMPETENC E- AT BAEAE ALL ANF L FE N-;RANCE The Bajaj Allianz Difference
$usiness strategy aligned to clients needs and trends in India and glo!al economy industry Internationally experienced core team, ma'ority with local !ackground *ast, decentralized decision making (ong4term commitment to market and clients

Tr"!&
%t $a'a' %llianz, they have realized that the customer seeks an insurer whom he/she can trust. $a'a' %llianz (imited is trusted name for over 77 years in the Indian market and %llianz %1 has over ))< years of glo!al experience in financial services. Together they are committed to provide the customer with time tested and trusted financial solutions that provide the customer all the security he/she need for their investments. %nd moreO

.<

;nder0ri&in) Philo!o2h'
Their underwriting philosophy focused on3 Cnderstanding the customers needs Cnderwriting what we understand #eeting the customers requirements Hnsuring optimal coverage at lowest cost

Clai$! Philo!o2h'
The $a'a' %llianz team follows a service that aims at taking the anxiety out of claims processing. They pride themselves on a friendly and open approach. They are focused towards providing the customer a hassle free and speedy claims processing. Their claims philosophy is to3 $e flexi!le and settle fast Hnsure no claim file to !e seen !y more than . people heck processes regularly against the glo!al %llianz 9"HP +9perational Hxcellence, methodology

C"!&o$er Orien&a&ion
%t $a'a' %llianz, the guiding principals are customer service and client satisfaction. %ll the efforts are directed towards understanding the culture, social environment and individual insurance requirements4 so that they can cater to all the customers varied needs.

E+2erienced and E+2er& -er,icin) Tea$


$a'a' %llianz is driven !y a team of experienced people who understand Indian risks and are supported !y the necessary international expertise requires to analyses and assess them service engineers located in every ma'or city .

-"2erior Technolo)'
In order to ensure speedy and accurate processing o the customers needs, they have esta!lished worlds class technology, with renowned insurance software, which networks all our offices and intermediaries .)

Csing the ?e!, policies can !e issued form any office across the country for retail products Cnique, user friendly software developed to make the process of issue of policies and claims settlement simpler +e.g. online insurance of marine policy certificate,

;niH"e For$! of Ri!? Co,er


&pecial "% cover for %marnath Fatris Housing loan cover for people, who are suddenly unemployed *ilm insurance Hvent management cover

Ri!? Mana)e$en& B Their E+2er&i!e


Their service methodology is tried, tested and "roven the world over and involves3 Eisk identification3 Inspection Eisk analysis3 "ortfolio review and gap analysis. Eisk retention Eisk Transfer3 To an insurer as well as reinsurer +as required, reation of need !ased products

9ngoing dialogue and proactively

.-

PROD;CTOF BAEAE ALL ANF L FE N-;RANCE


..

.2

L FE N-;RANCE POL C EL FE LONG GA N


The $a'a' %llianz (ife gain "lan comes with a host of features to allow customer to have the !est of all words G regular income for customer and the added !enefits of providing for loved ones too. This is the perfect plan to take care of ongoing and future family expenses like de!ts, expenses on children, living expenses, etc. It can also take care of unforeseen expenses like accidents, illness. Hospitalization etc. and provides a family with a safety net.

Ho0 doe! &he 2lan 0or?I


The premiums paid are invested in the (ifelong 1ain *und +!ased on the allocation rate, and units are allocated depending on the offer price of units for the fund. The value of the policy is the !id value of units that a customer holds in the fund. The life insurance cover charges are deducted through monthly cancellation of units and the fund administration charge and fund management charge are priced in the unit value.

Benefi&! a,aila(le "nder &he 2lan


Dea&h Benefi&> In the case of unfortunate premature death the !eneficiaries are entitled to the greater of > &um %ssured less partial withdrawals The !id value of units

If the age of the insured person is less than > or a!ove ><, then the !id value of unit is paid.

G"aran&eed -"r,i,al Benefi&!> 1uaranteed &urvival $enefits are availa!le under this policy. $a'a' %llianz (ife Insurance will pay, !y cancellation of units in the account of the policy, .A of the &um %ssured every year after the premium payment are over till the termination of the policy. This guaranteed amount is paya!le every year provided all premiums have !een paid and no partial withdrawal were made, the guaranteed .7

survival !enefit would !e .A +&um %ssured less partial withdrawal, for the su!sequent policy years. If the partial withdrawals made are equal to the &um %ssured, then the guaranteed survival !enefit will !ecome nil and funds in the account will !e availa!le to the customer for full/partial withdrawals as and when a customer needs them.

Ma&"ri&' Benefi&!>
9n the life assured attaining age )<<, the !id value of unit in the fund will !e paid out and the policy will terminate.

F"ll Wi&hdra0al>
(ife long 1ain offers the customer the flexi!ility of the withdrawals !y surrendering all his units, anytime after . full years premiums paid. The full withdrawals are paid out at the !id value of units. 9n full withdrawal the policy will terminate.

Par&ial Wi&hdra0al>
(ifelong 1ain allows the customer to make partial withdrawals anytime after all the premiums are paid. This gives the customer the liquidity and option to take out additional money over and a!ove the guaranteed survival !enefits, as and when required. In case of partial withdrawal, a minimum withdrawal amount is Es.)<<</4. In the case of a partial withdrawal, the su!sequent 1uaranteed &urvival $enefits will !e .A of +&um %ssured less partial withdrawals made,.

Ke' Fea&"re!
1uaranteed death !enefits ?hole life protection with only )< or )7 years of contri!utions. 1uaranteed survival $enefits that pays .A of the &um %ssured every year after the premium payments are over .8

"rovision for full and partial withdrawals .

Benefi&!
0eath !enefits 1uaranteed &urvival $enefits #aturity $enefits *ull ?ithdrawals "artial ?ithdrawals

;N T GA N PL;?ith $a'a' %llianz Cnit 1ain "lus, % customer can invest in one life insurance plan that can take care of all his/her changing requirements throughout their life. This plan has !een designed to provide them with maximum flexi!ility, so that they do not have to worry a!out their changing need s. $a'a' %llianz Cnit 1ain "lus 9ffers the unique option of com!ining the protection of life insurance with the attractive prospects of investing in securities. % person can choose the investment funds that he wants to invest his money, providing an opportunity to have a direct stake in the performance of the financial market. ustomer also !enefits from attractive tax advantages and can protect loved ones against unfortunate events .

Ho0 doe! &he 2lan 0or?I


The premiums paid are invested in fund/ funds of customers choice +depending on the allocation rate, and units are allocated depending on the price of units that the customer charges a holds in the fund/funds. The through cancellation insurance of units, cover and The *und administration #anagement deducted

harge is priced in the unit value .

Mini$"$ -"$ A!!"red J 3 &i$e &he ann"al 2re$i"$% Ma+i$"$ -"$ A!!"red J ' & &i$e! ann"al 2re$i"$%

The Fi,e f"nd! offered are a! "nder>


.>

aA EH"i&' nde+ F"nd >


capital

The investment o!'ective of this *und is to provide

appreciation through investment in equities. The plan is expected to

match the returns given !y Nif&' nde+ of &he Na&ional -&oc? E+chan)e% This fund will invest at least :7A in equities and maximum )7A in de!t and cash.

(A EH"i&' Pl"! F"nd >

The investment o!'ective of this *und is to provide

capital appreciation through investment in select equities stocks that have the potential for high capital appreciation. This fund will invest at least :7A in equities and maximum )7A in de!t and cash instruments.

cA

De(& Pl"! F"nd > The investment o!'ective of this *und is to provide accumulation of income through investment in high quality fixed income securities like GD-ec! , and cor2ora&e de(& ra&e! AA and a!ove. This fund will !e invested fully in 0e!t Instruments and money market instruments.

dA Balanced Pl"! F"nd >

This fund is a fund of funds. The investment o!'ective

of this fund is to provide a !alanced investment !etween long4term capital appreciation and current income through investment in the ;ni&! of Bajaj AllianzK! EH"i&' nde+ and De(& Pl"! F"nd!% The !alanced fund will invest .<A to 7<A in the equity index fund and 7<A to ><A in the de!t plus fund.

Ca!h Pl"! F"nd>


The investment o!'ective of this "lan is to have a fund that guarantees invested capital through investments in liquid money market and short4term instruments like ommercial "apers, ertificate of 0eposits, money market, #utual *unds, $ank *0s etc. The price of units in this fund is guaranteed not to go down.)<<7 of this fund will !e invested in money market instruments. The price of the units in this fund is guaranteed never to go down.

Fle+i(ili&ie! B &o $ana)e c"!&o$er in,e!&$en&!


$a'a' %llianz offers the flexi!ility to manage the investments. Initially, the customer can allocate the premium into the 7 funds that are availa!le in a proportion of his/her choice. &u!sequently, depending on the performance of funds, customer can switch !etween funds and also change the allocation of premium to various funds. They allow the customer three switches every policy year su!'ect to a $ini$"$ !0 i&chin) a$o"n& of R!% 3#888LD or the fund value, whichever is lower. .:

The customer can also change the proportion of premium allocation to various funds at each policy anniversary.

;n$a&ched Fle+i(ili&' B &o !"i&! &he c"!&o$erK! chan)in) reH"ire$en&!


$a'a' %llianz Cnit 1ain "lus offers unmatched flexi!ility to suit the policy according to the customers requirements. Fle+i(ili&'

n Pre$i"$ Pa'$en& > The customer has the flexi!ility to


ustomer may choose to cash out the policy !enefits at

decide how long he/she wishes to pay the premiums and when he wants to cash out the policy !enefits. units . one shot or do it as and when you require cash through partial surrender of

Fle+i(ili&'

&o

ncrea!e &he -"$ A!!"red >

The

ustomer have the

option to increase the &um %ssured without any medical tests every . r d year up to 2 times. The quantum of increase would !e -7A of the original &um %ssured or Es ),<<,<<</4 whichever is lower. If the customer does not exercise an option when it is due, it cannot !e carried forward. If the age is les than ): years at the start of policy, all 2 increments will !e availa!le from age ):. %part from exercising the options to increase the &um %ssured without medical tests, he/she can increase the &um %ssured any time. &u!'ect to medical underwriting +availa!le up to age 8<,. In either case, the &um %ssured after increase must !e equal to or less than the maximum &um %ssured availa!le foe the premium level chosen. The customer should give notice of increase in death !enefit )7 days !efore the yearly policy anniversary.

Fle+i(ili&'
premium.

&o decrea!e &he -"$ A!!"red > The customer can decrease

the &um %ssured +in multiples of )<<<, at any time to suit their changing needs. The sum %ssured, after decrease, must !e at least 7 times the annual %fter a decrease su!sequent increases will !e su!'ect to underwriting. Fle+i(ili&' &o Pa' To2 "2! > The customer may have received a !onus or some lump sum money. The customer can use that to increase his/her investments in their policy.=:A of any amount paid as top4up is allocated to their funds. Fle+i(ili&' &o increa!e &he le,el of Re)"lar Pre$i"$ Pa'$en& > The customers earnings grow over time, and so does their savings potential. .=

?ith $a'a' %llianz Cnit gain "lus, the customers will have the flexi!ility to increase their regular premium amount at any time.

$2or&an& De&ail! of &he MBajaj Allianz ;ni& Gain Pl"!K Plan


#inimum %ge at Hntry3 <+Eisk commences at age >, and ceases after age ><, #aximum %ge at Hntry3 8<. The minimum age at entry for all additional !enefits is ): years. The maximum age at entry for all additional !enefits is 7< years. %ll additional !enefits are availa!le till age 87.

Pre$i"$ Pa'$en& Mode


*or the customers convenience, %llianz have provided . regular premium payment modes that can !e Fearly, Half Fearly, and Quarterly. They also offer a monthly premium payment mode with salary deduction schemes. In addition, the customer also has the option to pay top4ups to increase his/her investments. The minimum premium is Es.)7<<</4 for the %nnual #ode, Es.>7<</4 for Half Fearly, Es..>7</4 for Quarterly, and Es.)7<</4 for the #onthly #ode. The minimum top4up premium is Es.7<<</4.

Par&ial and F"ll Wi&hdra0al!


Cnit1ain "lus offers the full flexi!ility of full as well as partial withdrawals !y surrendering units, anytime after . full years premium are paid. The surrenders are paid put at the value of units, and there is no surrender penalty on partial or full withdrawals after full . years premiums are paid.

Ke' Fea&"re!
1uaranteed death !enefit hoice of 7 investment funds with flexi!le investment management3 you can change funds at any time. %ttractive investment alternative to fixed4interest securities. 2<

"rovision for full/partial withdrawals any time after three full years premiums is paid. Cnmatched flexi!ility4 to match your changing needs.

Benefi&!
0eath $enefits ash withdrawal option

Ter$ Care
This plan not only offers the customer life insurance cover at a low cost, !ut also provides for return of premiums on maturity. The premiums returns at maturity will !e equal to the single premium or the sum total of equivalent annual premiums of the Hconomy "ack +excluding extra premiums charged if any,. In case of premature death the policy term, the full sum %ssured will !e paid to the nominee.

Ho0 doe! &he 2lan 0or?I


The NBajaj Allianz Ter$ careO "lan offers the customer the convenience of choosing !etween two premium payment options.

Re)"lar Pre$i"$ Pa'$en& > "remium payment throughout the selected


term.

-in)le Pre$i"$ Pa'$en& > 9ne time premium payment for the selected
term at commencement. %part from covering the risk of natural death, this plan also provides the customer

the option to choose up to 7 additional !enefits. The customer can select a specific com!ination of additional !enefits !est suited to his/her needs, availa!le in 2 attractive packages to choose from. I. Econo$' > This is the !asic plan, which is availa!le for !oth the regular and single premium payment options. II. Pro&ec& > This pack comes with the following . in4!uilt additional !enefits >

aA %ccidental

death $enefit. 2)

(A %ccidental cA ?aiver
disa!ility,

"ermanent Total/"artial 0isa!ility $enefit

of "remium $enefit +in case of accidental permanent total

The "rotect "ack is availa!le with the regular premium payment option only.

III. Heal&h > This pack comes with the following - in G!uilt additional !enefits > aA ritical Illness $enefit. premium payment option only . (A Hospital cash $enefit. The health "ack is availa!le with the regular

IK. To&al > This pack comes with the following 7 in4!uilt additional !enefits > aA %ccidental 0eath $enefit. (A %ccidental "ermanent Total/ "artial 0isa!ility $enefit. cA ?aiver of "remium $enefit +in case of accidental permanent total disa!ility, dA ritical Illness !enefit ash $enefit eA Hospital

The Total "ack is availa!le with the regular premium payment option only.

Benefi&! >
%ccidental 0eath $enefit %ccidental "ermanent Total /"artial 0isa!ility $enefit ?aiver of premium $enefit ritical Illness $enefit

Tax $enefits &urrender (oans

2-

LOAN PROTECTOR
The $a'a' %llianz 5(oan "rotector6 plan is a mortgage term insurance plan that covers the outstanding principal amount of a loan. It is an economical way to protect the family from the !urden of repayment of the loan in case of death of the loaner. The plan is designed to pay a sum insured that will !e equal to the outstanding principal amount of the loan due.

Ho0 doe! &he 2lan 0or?I


The NBajaj Allianz Pro&ec&orO "lan offers the convenience of choosing !etween two premium payment options.

I. Re)"lar Pre$i"$ Pa'$en& > "remium payment limited to approximately -/. r d of loan tenure, while coverage continues for the full tenure of the loan. II. -in)le Pre$i"$ Pa'$en& > 9ne time premium payment covering the customer for the full tenure of the loan .

Eoin& Life A,aila(ili&'


The ustomer has the option to cover the co4applicant of the loan under this plan. Cnder this option, !oth lives will !e covered and the death !enefit will !e paya!le in case of death of either life. The policy terminates on death of either life.

Da'! of Grace
In case of non4payment of premiums, a grace period of .< days will !e allowed for the yearly, half yearly and quarterly modes +)7 days for monthly mode,. %fter that the policy will lapse.

Re,i,al Of &he Polic'


It is possi!le to revive a policy that has lapse due to non4payment of premiums within 7 years from the date of lapse. The revival will !e effected su!'ect to underwriting. In case of 'oint life, revival would !e su!'ect to underwriting on !oth lives.

General E+cl"!ion
?ithin )7 days from the date of receipt of the policy, the customer have the option to review the terms and conditions and return the policy, if the customer 2.

disagree to any of the term and conditions, stating the reasons for his/her o!'ections. The customer will !e entitled to a refund of the premium paid, su!'ect only to a deduction of a proportionate risk premium for the period on cover and expenses incurred on medical examination and stamp duty charges.

22

CH LD GA N
Taking care of a child is perhaps the most important 'o! a parent can have. It is !ut natural that a person would like to give his/her !est, and therefore, this is the time when careful financial planning can help them to fulfill the aspirations that the customers have for his/her children .

Ho0 doe! &he 2lan 0or?I


The NBajaj Allianz Child GainO solutions help the customer to en'oy the 'oys of parenthood responsi!ility, with the reassurance of a secure future for their child. ommon features in the 2 options of $a'a' %llianz 5 hild gain6 &olutions.

I.

Li$i&ed Pre$i"$ Pa'$en& Ter$ ?hich means that the premiums are
paya!le till the customers child attains age ): years %

II.

The c"!&o$erK! con&ri("&ion! )ro0 (' 0a' of co$2o"nded ann"al (on"!e!# which will !e paid to him with the first guaranteed payout +policy
anniversary following age ): of your child,, for in4force policies. In addition to the annual !onuses, a terminal !onus may also !e paid.

III.

The customers are also eli)i(le for Ta+ (enefi&! "nder -ec&ion 66 and -ec&ion *8 @*8 DA of &he nco$e Ta+ Ac&%

IK.

A!!"rin) =o"r ChildK! F"&"re In an uncertain world, the prime interest of


your child cannot !e 'eopardized in any way. ?hich is why the Bajaj Allianz has !uilt in some added !enefits in all their plans to protect the interests of your childs future, !y counter insuring you4 the policyholder.

Pre$i"$!
*or the customers convenience they have provided three Pre$i"$ Pa'$en& Mode! can !e =earl'# Half 'earl' or 9"ar&erl'% They also offer a Mon&hl' Pre$i"$ Pa'$en& Mode under salary deduction schemes.

Loan!
(oans are not availa!le with Bajaj Allianz NChild GainO solutions.

27

*3 da'! Free Loo? Period >


?ithin )7 days from the date of receipts of the policy, the customer have the option to review the terms and conditions return the policy, if he/she disagree to any of the terms and conditions, stating the reasons for his/her o!'ections. The customer will !e entitled to a refund of the premium paid, su!'ect only to a deduction of proportionate risk premium for the period on cover and the expenses incurred on medical examination and stamp duty charges.

E+cl"!ion!
The 0eath over is su!'ect to the following Hxclusion 3 &uicide within one year from commencement of risk, whether sane or not this product !rochure gives the salient feature only. The relevant policy document is the conclusive evidence of the contract, and provides in detail all the conditions. Hxclusion related to each of plans under the Bajaj Allianz NChild GainO -ol"&ion!%

N<E-T GA N
It takes only a moment to make promises and a lifetime to keep them. ;eeping promises made to your loved ones is not 'ust a responsi!ility, !ut a commitment that you have to live up to. ?hen you promise to see your family through thick and thin you need to make sure that you have planned for all the eventualities that may !efall on them. Fou need to !e prepared that even if there ever is an instance that you are not there with them you have saved enough to see them through their entire life.

Acciden&al Dea&h Benefi& >


%ccidents are always sudden and sometimes fatal. Fou cant lessen the

emotional shock, !ut you can certainly soften the financial one. NBajaj Allianz Acciden&al Dea&h Benefi&O gives the loved ones something to start with after the permanent loss of income !y paying an account equal to &um %ssured. +&u!'ect to a maximum of Es. 7<,<<,<<</4 under all policies with $a'a' %llianz taken together,.

28

Acciden&al Per$anen& To&alLPar&ial Di!a(ili&' Benefi& >


%ccidents are unpredicta!le and so are the consequences. They may lead to a disa!ility G partial or total. This !enefit provides a financial cushion against such misfortunes. Fou will get 7<A of the &um %ssured in case of partial disa!ility and )<<A in case of total disa!ility. +&u!'ect to a maximum of Es. -7,<<,<<</4 for partial and Es. 7<,<<,<<</4 for total disa!ility under all policies with Bajaj Allianz taken together,.

Wai,er of Pre$i"$ Benefi& >


%n accident may lead to permanent total disa!ility, limiting ones a!ility to

earn. NBajaj Allianz Wai,er of Pre$i"$ Benefi&O is a helping hand when one needs it most. It waives off all future premiums while keeping the valua!le life insurance cover alive, thus ena!ling you to live up to your commitments.

Cri&ical llne!! Benefi& @C A >


&ome illnesses are critical. They not only alter ones lifes pattern !ut also llne!! (enefi&O softens the ash $enefit,. ritical

result in a financial drain. NBajaj Allianz Cri&ical impact on the family !y paying out the

ritical Illness $enefit under the plan

immediately, while other policy !enefits continue +excluding Hospital

?e cover )) critical illnesses. The customer have the flexi!ility of choosing

Illness cover up to the !asic &um %ssured selected !y you +#inimum Es. 7<,<<<,

Ho!2i&al Ca!h Benefi& @HCA >


The worry of settling hospital !ills +room charges, adds to the trauma of

hospitalization. NBajaj Allianz Ho!2i&al Ca!h Benefi&O reduces this financial !urden and helps recovery with peace of mind.

Fle+i(ili&' in Co,era)e >


%ll $a'a' %llianz, they !elieve I offering !enefits and not 'ust products. They

realize that customers are unique and their needs for insurance vary with time. They therefore offer the customer the flexi!ility of inclusion of coverage or exclusion of coverage at each policy anniversary, su!'ect to conditions relating to such inclusions 2>

and exclusion. NCo$2rehen!i,e Acciden& Pro&ec&ionO can !e included and excluded at each policy anniversary. *amily Income $enefit, Hospital ash $enefit can !e taken at inception only. ritical Illness !enefit and I and H can !e reduced or

excluded su!sequently at any policy anniversary. 9nce reduced or excluded, they cannot !e increased or included su!sequently.

ncrea!e n ri!? Co,era)e


Hvery added responsi!ility in a persons life call for increase in his/her risk

cover. $a'a' %llianz provide the customer the option to increase coverage up to 7<7 of the !asic &um %ssured on each of the following happy moments in their life 3 Four #arriage. The $irth of your *irst The $irth of the &econd hild. hild.

N This additional coverage is not su!'ect to underwriting6


Bajaj Allianz Ca!h Gain Pla&in"$ > Quadruple Sum Assured + Bonuses

Choice Of Ter$!
;eeping the customers convenience in mind, $a'a' %llianz offers the

customer the widest range of terms 3 )7, -<, -7,and .< years.

Addi&ional Pro&ec&ion For The C"!&o$er need Their Fa$il'


The customers have the option to add the following additional !enefits.

"roviding total protection against uncertainties .

aA Fa$il' nco$e Benefi& @F BA

>

The Cltimate "rotection *or your loved

9nes. The customer can select the unique *amily Income $enefit *rom $a'a' %llianz that ensures total financial protection for their loved ones. In case of death or accidental total permanent disa!ility, a guaranteed monthly income )A of the &um 2:

%ssured +)-A per annum, is paid till the end of the policy term or at least for a period of )< years, whichever is higher. #oreover, all future premiums are waived.

(A

Co$2rehen!i,e

Acciden&

2ro&ec&ion>

T his

!enefit

provides

comprehensive cover in case of an accident. It comprises of 3

Acciden&al Dea&h Benefi&


%ccidents are always sudden and sometimes fatal. Fou cant lessen the emotional shock, !ut you can certainly soften the financial one. 5$a'a' %llianz %ccidental 0eath $enefit6 gives the loved ones something to start after the permanent loss of income !y paying an amount equal to the &um %ssured. +&u!'ect to a maximum of Es 7<,<<,<<</4 under all polices with $a'a' %llianz taken together,.

Acciden&al Per$anen& To&alL Par&ial Di!a(ili&' Benefi&


%ccidents are unpredicta!le, and so are the consequences. They may lead to a disa!ility G partial or total. This $enefits provides a financial cushion against such misfortunes. Fou will get 7<A of the &um %ssured in case of partial disa!ility. +&u!'ect to a maximum of Es. -7,<<,<<</4 for partial Es. 7<,<<,<<</4 for total disa!ility under all policy with $a'a' %llianz taken together,.

Wai,er of Pre$i"$ Benefi&


%n accident may lead to permanent total disa!ility, limiting ones to earn. 5$a'a' %llianz ?aiver of "remium $enefit6 is a helping hand when one needs it most. It waives off all future premiums while keeping the valua!le life insurance cover alive, thus ena!ling you up to your commitments.

cA Cri&ical llne!! Benefi& @C A>

&ome illnesses are critical. They not only alter ritical Illness ritical Illness $enefit ash

ones lifes pattern !ut also result in a financial drain. 5$a'a' %llianz $enefit6 softness the impact on the family !y paying out the under the

plan immediately, while other policy !enefits continue +excluding Hospital

$enefit,. ?e cover )) critical illnesses. The customer have the flexi!ility of

2=

choosing

ritical Illness cover up to the !asic &um %ssured selected !y you

+#inimum Es. 7<,<<<,.

dA Ho!2i&al Ca!h Benefi& @HCA> The worry of setting hospital !ills +room charge,
adds to the trauma of hospitalization. 5$a'a' %llianz Hospital this financial !urden and helps recovery with peace of mind. ash $enefit6 reduces

Fle+i(ili&' in Co,era)e
In $a'a' %llianz, they !elieve in the offering and not 'ust products. They realize that the customers are unique and their needs for insurance vary with time. They therefore offer the customer the flexi!ility of inclusion of coverage or exclusion of coverage at each policy anniversary, su!'ect to conditions relating to such inclusions and exclusion. 5 omprehensive %ccident "rotection6 can !e included and excluded at each policy anniversary. *amily Income $enefit, $enefit and Hospital cash $enefit can !e taken at inception only. excluded, they !e increased or included su!sequently. ritical Illness I N H can !e

reduced or excluded su!sequently at any policy anniversary. 9nce reduced or

ncrea!e in Ri!? Co,era)e >


Hvery added responsi!ility in a persons calls for increase in his/her risk cover. $a'a' %llianz provide the customer the option to increase coverage up to 7<A of the !asic &um %ssured on each of the following 3 Happy moments on their life 3 Four !irth of your first child The !irth of the second child 5This additional coverage is not su!'ect to underwriting. The option should !e exercised within =< days of the occurrence of the said event.6

-A<E CARE ECONOM=


%s the !readwinner of the family you shoulder several responsi!ilities. Four spouses welfare, your childrens education, !uying a house or a car G you have a lot 7<

to think a!out, everyday. ?e, at $a'a' %llianz, !elieve that the security and growth of your hard earned money should not add to these. ?hich is why they have created the 5$a'a' %llianz &ave are Hconomy4 &ingle are Hconomy6. "remium6 the )<4year &ingle "remium version of our popular 5&ave high risk4cover.

It is an ideal plan for a one4time lump sum investment that provides for saving with

Wha& doe! NBajaj Allianz -a,e Care Econo$' B -PO offer 'o"I
The 5$a'a' %llianz &ave this plan are3 #inimum 1uaranteed Eeturn up to ..72A+depending on age at entry,. The #inimum 1uaranteed %mount +&um %ssured, would grow further !y way of compounded annual !onuses. % high risk4cover of up to )2-A +depending on age at entry, of the sum invested from the !eginning of the policy term as a financial safety net to provide for unpredicta!le adversities. Hligi!le for Tax $enefits under &ection :: and &ection )< +)< 0, of the Income Tax %ct. %t maturity you will receive the &um %ssured +#inimum 1uaranteed %mount, along with the accrued !onuses. are Hconomy G &", is a &ingle "remium investment plan for )< years that also participates in the profits of the company. The highlights of

Dea&h Benefi& >


In case of death during the term of the plan, the nominee will !e paid the &um %ssured +#inimum 1uaranteed %mount, plus accrued !onuses. I case of death of a minor +!elow age >,, the death !enefit will !e the surrender value or &ingle "remium whichever is higher.

R -K CARE
This plan offers the customer life insurance cover at the lowest possi!le cost for a selected term. It is an ideal option to cover their near and dear ones against financial risks arising out of lifes adversities G like death and permanent disa!ility. 7)

In the case of pre4mature death during the term, the &um %ssured is paid to the nominee. There are no survival !enefits under this plan.

Wha& doe! &hi! 2lan offerI


The 5$a'a' %llianz Eisk two payment options. Re)"lar Pre$i"$ Pa'$en& 4 "remium payment through the selected term. -in)le Pre$i"$ Pa'$en& 4 9ne time premium for the selected term at commencement. %part from covering the risk of natural death, this plan also provides the option to choose up to 7 additional !enefits. % person can select a specific com!ination of additional !enefits !est suited to his/her needs, availa!le in 2 attractive packages to choose from are6 "lan offers the convenience of choosing !etween

To&al> This pack comes with the following 7 in4!uilt additional !enefits3 ). %ccidental 0eath $enefit. -. %ccidental "ermanent Total/"artial 0isa!ility $enefit. .. ?aiver of "remium $enefit +in case of accidental permanent total disa!ility,. 2. ritical Illness $enefit. ash $enefit. The total "ack is availa!le with the regular premium payment option only. 7. Hospital

Benefi&!
"remium ?aiver $enefit *amily Income $enefit 9ption to "urchase future Insurance

E+cl"!ion!
&uicide within one year from commencement of risk, whether same or not. This product gives the salient featured only the relevant policy document is the conclusive evidence of the contract, and provides in details all the conditions, exclusion related to each of plans under the $a'a' %llianz 5 hild 1ain6 &olutions.

7-

L FE T ME CARE
This plan provides you with the comfort that your near and dear ones will continue to live their life without financial worries, even when you are not around.

PEN- ON PLAN-WARNA < -HRANT


Fou have !een working hard. Foure going to retire one day, How do you see your retirementI Traveling 1olfingI Turning a ho!!y into a second career or volunteering for a no!le cause or simply spending more time with your family. In retirement, how you choose to spend your time is now up to you. Its also up to you to ensure your retirement income lasts as long you do. The decisions you make a!out your money today should !e flexi!le enough to accommodate your changing needs. Taking charge of your olden years are golden years.

Wha& doe! NBajaj Allianz -0arna <i!hran&iO offer!I


?ith Bajaj Allianz -0arna <i!hran&i# a person can take control of his/her future and ensure a retirement he can look forward to. This plan helps a person to prudently play for his retirement today, so that he doesnt have to worry a!out inflation, declining interest rates and rising medical !ills in the future as also ensures the financial security of his family. The annuity paya!le under this plan will ensure that his/her earnings never stop during their lifetime. "acked with a host of innovative features and with flexi!ility like never !efore, then the search for the perfect pension ends here with Bajaj Allianz -0 arna <i!hran&i# they have the option to choose the following additional !enefits3 aA

Fa$il'

nco$e Benefi& > The customer can select the unique *amily

Income $enefit from $a'a' %llianz that ensures total financial protection for loved ones. In case of death or accidental total permanent disa!ility, a guaranteed monthly income of )A of the &um assured +)-A per annum, is paid till the vesting date or at least for period of )<years, whichever is higher. #oreover, all future premiums are waived. This unique regular income !enefit can act as important supplement to the pension availa!le to the spouse in the case of death.

7.

(A

Co$2rehen!i,e

Acciden&

Pro&ec&ion

> This

!enefit

provides

comprehensive cover in case of an accident. It comprises of 3

Acciden&al Dea&h Benefi& > %ccidents are always sudden and


sometimes fatal. Fou cant lessen the emotional shock !ut you can certainly soften the financial one. Bajaj Allianz Acciden&al Dea&h Benefi& gives the loved ones something to start with after the permanent loss of income !y paying an amount equal to the &um %ssured. +&u!'ect to a maximum of Es. 7<,<<,<<</4 under all policies with $a'a' %llianz taken together,.

Acciden&al Per$anen& To&alLPar&ial Di!a(ili&' Benefi& >


%ccidents are unpredicta!le and so are the consequences. They may lead to a disa!ility4 partial or total. This !enefit provides a financial cushion against such misfortunes. 9ne will get 7<A of the &um %ssured in case of partial disa!ility and )<<A in case of total disa!ility. +&u!'ect to a maximum of Es. -7,<<,<<</4 for partial and Es. 7<,<<,<<</4 for total disa!ility under all policies with $a'a' %llianz taken together,.

Wai,er of Pre$i"$ Benefi& > %n accident may lead to premium


total disa!ility, limiting ones a!ility to earn. $a'a' %llianz ?aiver of "remium $enefit is a helping hand when one needs it most. It waives off all future premiums while keeping the valua!le life insurance cover alive, thus ena!ling you to live up to your commitments.

cA

Ter$ Co,er > Addi&ional Pro&ec&ion for =o"r Fa$il'> The customers have an option
to include a Ter$ Co,er in his/her policy, which will provide an additional life insurance protection at a nominal cost. This also ensures that the pension availa!le to spouse is further supplemented.

dA Cri&ical llne!! Benefi& >

&ome illnesses are critical. They not only alter

ones lifes pattern !ut also result in a financial drain. 5$a'a' %llianz ritical Illness $enefit6 softness the impact on the family !y paying out the ritical Illness $enefit under the plan immediately, while other policy !enefits continue +excluding Hospital ash $enefit,. ?e cover )) critical 72

illnesses. The customer have the flexi!ility of choosing

ritical Illness

cover up to the !asic &um %ssured selected !y you +#inimum Es. 7<,<<<,.

eA

Ho!2i&al Ca!h Benefi& @HCA > The worry of setting hospital !ills +room
charge, adds to the trauma of hospitalization. 5$a'a' %llianz Hospital mind. ash $enefit6 reduces this financial !urden and helps recovery with peace of

Wha& are &he (enefi&! of Bajaj Allianz -0arna <i!hran&iI


The plan works in two parts 4 The defer$en& 2eriod and The ann"i&' 2eriod% 0uring the deferment period, the plan provided valua!le life cover and !uilds up the funds required to purchase the immediate annuity. The deferment period ends at the vesting date. The customers are free to choose their age of retirement +vesting date, !etween 27 and >< years. &ince the Bajaj Allianz -0 arna <i!hran&i plan participates in the profits of the company, the &um %ssured grows with time through the !onuses declared !y the company. The !enefits on ,e!&in) da&e +the date you choose to retire, ). The -"$ A!!"red alon) 0 i&h all accrued !onuses will !e used to 2"rcha!e an i$$edia&e ann"i&' . The immediate will !e purchased at rates prevailing at that point of time. -. O2&ion &o &a?e l"$2 !"$> The customers have the option to take upto ..A of &um %ssured plus accrued !onuses on the vesting date as a lump sum. This amount would !e tax in their hand, as per current tax laws. The !alance amount will !e used to purchase an immediate annuity. .. O2en Mar?e& O2&ion> Fou have the option to purchase an immediate annuity from $a'a' %llianz or from any other company. If the immediate annuity is purchased from $a'a' %llianz, the amount availa!le for purchased of annuity will !e up to -A %t present, they offer their immediate annuity plan for life, &warna Eaksha, tied to this plan. 2. The

$ini$"$ in!&all$en& of ann"i&' fro$ Bajaj Allianz i!

R!%*888LD% The annuity mode may !e changed to make each installment more
than the minimum requirement. If it is still !elow the minimum, the &um %ssured R %ccrued $onuses would !e paid . 77

Added A!!"rance B for 'o"r fa$il'


In the unfortunate event of death during the deferent period, your spouse will have the option to take the &um %ssured plus accrued !onuses as a lump sum pr purchase an annuity to get regular income for life. *or the immediate annuity, your spouse will have the 9pen #arket 9ption as well, $a'a' %llianz immediate annuity, with a mark up of -A will !e availa!le only if the spouse is a!ove 27 years of age. In all ages lower than 27, the &um %ssured R % %ccrued !onuses would paid out.

Fle+i(ili&' in Co,era)e
%t $a'a' %llianz, they !elieve in offering !enefits and not 'ust products. They have realized that the customers are unique and their needs for insurance vary with time. They therefore offer the flexi!ility of inclusion of coverage or exclusion of coverage at each policy anniversary till the vesting date, su!'ect to conditions relating to such inclusion and exclusion. 5 omprehensive %ccident "rotection6 can !e included and excluded at each policy anniversary. The Term over, *amily Income $enefit, ritical Illness $enefit and Hospital ash $enefit can !e reduced or excluded su!sequently at any policy anniversary. 9nce reduced or excluded, they cannot !e increased or included in the policy su!sequently. The *amily Income !enefit, once selected, cannot !e removed. The term cover can !e excluded at any su!sequent policy anniversary. 9nce removed, it cannot !e included in the policy su!sequently.

;N T GA N EA-= PEN- ON
Fou have !een working hard. Foure going to retire one day. How do you see your retirementI TravelingI 1olfingI Turning a ho!!y into a second career or volunteering for a no!le cause or simply spending more time with your family. In retirement, how you choose to spend your time is now upto you. Its also upto you to ensure your retirement income lasts as long as you do. The decisions you make a!out your money today should !e flexi!le enough to accommodate your changing needs. Taking charge ensures that your olden years are your golden years.

The NBajaj Allianz ;ni& Gain Ea!' Pen!ionO Plan


78

?ith $a'a' %llianz, you can take control of your future and ensure a retirement you can look forward to. There are two packages to choose from3 ;ni&Gain Ea!' Pen!ion Re)"lar Pre$i"$ ;ni&Gain Ea!' Pen!ion -in)le Pre$i"$

Wha& are &he (enefi&! a,aila(leI


The plan works in two parts G &he defer$en& 2eriod and &he ann"i&' 2eriod% 0uring the deferment period, the plan !uilds up the funds required to purchase the immediate annuity. The deferment period ends at the vesting date. Fou are free to choose your age of retirement +vesting date, !etween 27 and >< years.

The (enefi&! on <e!&in) Da&e @&he da&e 'o" choo!e &o re&ireA
). The %ccount Kalue as on the vesting date will !e used to purchase an immediate annuity. The immediate annuity will !e purchased at rates prevailing at that point of time. -. 9ption to take lump sum3 Fou have the option to take up to )/. r d of the account value on the vesting date as a lump sum. This amount would !e tax free in your hand, as per current tax laws. The !alance amount will !e used to purchase an immediate annuity. .. 9pen #arket 9ption3 Fou have the option to purchase an immediate annuity from $a'a' %llianz or from any other company. If the immediate annuity is purchased from $a'a' %llianz, the amount availa!le for purchase of the annuity will !e market up !y -A. 2. The minimum installment of annuity from $a'a' %llianz is Es.)<<</4. The annuity frequency may !e changed to make each installment more than the minimum requirement. If it still !elow the minimum, the %ccount Kalue may !e utilized to purchase an immediate annuity from any other company in the a open market as per your choice, or paid in lump sum, if permissi!le, su!'ect to the prevailing tax laws.

A!!"rance B for 'o"r fa$il'


In the unfortunate event of death during the deferment period, your spouse will have the option to take the %ccount Kalue as a lump sum or purchase an annuity 7>

to get regular income for life. *or the immediate annuity, your spouse will have the 9pen #arket 9ption as well. The immediate annuity from $a'a' %llianz will !e availa!le only if the spouse is a!ove 27. If age were !elow 27, the %ccount Kalue would !e paid out.

Ann"i&' o2&ion!>
Fou will !e a!le to choose from all immediate annuity products offered !y $a'a' %llianz (ife insurance at the vesting date. The annuity products currently availa!le are3 %nnuity for (ife %nnuity for (ife with 7, )< or )7 years certain payout %nnuity for (ife with Eeturn of purchase immediate annuity. apital Fou also has the open market option to

;N TGA N L FE PEN- ON
Fou have !een working hard. Foure going to retire one day. How do you see your retirementI TravelingI 1olfingI Turning a ho!!y into a second career or volunteering for a no!le cause or simply spending more time with your family. In retirement, how you choose to spend your time is now up to you. Its also up to you to ensure your retirement lasts as long as you do. The decision you make a!out your money today should !e flexi!le enough to accommodate your changing needs. Taking charge of your retirement !egins with $a'a' %llianz Cnit1ain (ife "ension, a plan that ensures that your olden years are your golden years. The 5$a'a' %llianz Cnit 1ain (ife "ension6 "lan with $a'a' %llianz, you can take control of your future and ensure a retirement you can look forward to. This plan has !een designed to take care of your retirement and insurance needs, there!y providing you with a comprehensive solution for a lifetime. There are two packages to choose from3

;ni&Gain Life Pen!ion Re)"lar Pre$i"$ ;ni&Gain Life Pen!ion -in)le Pre$i"$ Wha& are &he (enefi&! a,aila(leI
7:

The plan works in two parts G the deferment period and the annuity period. 0uring the deferment period, the plan provides valua!le life cover and !uilds up the funds required to purchase the immediate annuity. The deferment period ends at the vesting date. Fou are free to choose your age of retirement +vesting date, !etween 27 and >< years.

The (enefi&! on <e!&in) Da&e @&he da&e 'o" choo!e &o re&ireA
). The %ccount Kalue as on the vesting date will !e used to 2"rcha!e an

i$$edia&e ann"i&'% The immediate annuity will !e purchased at rates


prevailing at that point of time. -. O2&ion &o &a?e l"$2 !"$> Fou have the option to take up to )/. r d of the account value on the vesting date as a lump sum. This amount would !e tax free in your hand, as per current tax laws. The !alance amount will !e used to purchase an immediate annuity . .. O2en Mar?e& O2&ion> Fou have the option to purchase an immediate annuity from $a'a' %llianz or from any other company. If the immediate annuity is purchased from $a'a' %llianz, the amount availa!le for purchase of the annuity will !e up !y -A. 2. The minimum installment of annuity from $a'a' %llianz is Es.)<<</4. The annuity frequency may !e charged to make each installment more than the minimum requirement. If it still !elow minimum, the %ccount Kalue may !e utilized to purchase an immediate annuity from any other company in the open market as per your choice, or paid in lumpsum, if permissi!le, su!'ect to prevailing tax laws.

A!!"rance B for 'o"r fa$il'


In the unfortunate event of death during the deferment period, your spouse will get the greater of the &um %ssured or the %ccount Kalue. &/he will have the option to take it as a lump sum or purchase an annuity to get regular income for life. *or the immediate annuity, your spouse will have the 9pen #arket 9ption as well. The immediate annuity from $a'a' %llianz will !e availa!le only if the spouse is a!ove 27. If age were !elow 27, the amount would !e paid out as a lump sum % 7=

Ann"i&' O2&ion!
Fou will !e a!le to choose from all annuity products offered !y $a'a' %llianz (ife insurance at the vesting date. The annuity products currently availa!le are3 ). %nnuity for (ife -. %nnuity for (ife with 7,)< or )7 years certain payout .. %nnuity for (ife with Eeturn of apital Fou also has the open market option to purchase immediate annuity .

-WARNA RAK-HA ROC


Fou have !een working hard. Foure going to retire one day. How do you see your retirementI TravelingI 1olfingI Turning a ho!!y into a second career or volunteering for a no!le cause or simply spending more time with your family. In retirement, how you choose to spend your time is now up to you. Its also up to you to ensure your retirement income lasts as long as you do. Taking charge of your retirement !egins with $a'a' %llianz &warna Eaksha, a plan that ensures that your olden years olden years are you golden years.

The NBajaj Allianz -0arna Ra?!haO ROC Plan


?ith $a'a' %llianz &warna Eaksha, you can ensure a regular income after retirement. The plan offers you a (ife %nnuity with Eeturn of apital.

Ho0 doe! Bajaj Allianz -0arna Ra?!ha 0or?I


%ll you have to do is pay a lump sum amount to $a'a' %llianz (ife Insurance ompany, and the annuity payments will start after expiry of monthly/quarterly/half yearly/yearly interval corresponding to the payment mode selected !y you. Here annuity is paya!le for life, so you do not have to worry a!out your income stopping at any stage. ?hat more, under the return of capital option, the amount used to purchase the annuity is paid to the nominee on the death of the annuity .

$2or&an& de&ail! of &he NBajaj Allianz -0arna Ra?!ha ROCO Plan


#inimum %ge at Hntry 27 8<

#aximum %ge at Hntry :< #inimum (ump &um Es.7<,<<< #inimum %nnuity Installment Es.)<<<

8)

RE-EARCH AND ANAL=- -

8-

?ith the authority to think as !usiness managers and !uild their !ranches as profit centers. They are encouraged to open satellite !ranches. This gives !ranch managers the depth of decision4making and speed required to react to market dynamics and consumer needs. The management has also appointed full4time training personnel for each !ranch.

The fastest growing private (ife Insurance company in India, $a'a' %llianzs portfolio of )= products includes comprehensive ME$2lo'ee Benefi& -ol"&ion @Gro"2 Ter$ Life# EDL # Gra&"i&'# -"2er ann"a&ion# Ke'$an MoreAC n,e!& Gain @ a "niH"e Life n!"rance and n!"rance 2lan for &he indi,id"al# where a

regular income is com!ined in a plan that also pays a lump sum A# Ca!h Gain @$one' (ac?A# Child Gain @childrenK! 2lanA# Ri!? Care @2"re &er$A# Life&i$e Care @0 hole lifeA# Ter$ Care @&er$ 0i&h re&"rn of 2re$i"$A# -0arna <i!hran&i @re&ire$en& 2lanA# Pro&ec&or @$or&)a)e &er$ in!"rance 2lanA# ;ni& Gain @"ni&Dlin?ed 2lanA# ;ni&Gain -in)le Pre$i"$# ;ni& Gain Pl"!# ;ni& Gain Pl"! -P# Lifelon) Gain Pl"!# ;ni& Gain -in)le Pen!ion and ;ni& Gain Ea!' Pen!ion%

8.

RE-EARCH METHODOLOG=
The approach to the research is considered in this chapter, from the theoretical underpinning to the collection and analysis of the data. It !egins with the extent of the research to provide the specific guidelines of studying. The next part is concerned with the method of the research that refers to the data collection and analyzing which is used in the research.

CONCEPT;AL CONTE:T OF THE RE-EARCH


%s the o!'ective of the research focuses on the research of potential Insurance onsultants with special emphasis of $a'a' %llianz. It will help the company to increase its sales, which is the prime o!'ective of the company at this time. The research attempts to generate awareness among the people of 0elhi regarding the agency of $a'a' %llianz.

82

METHODPR MAR= DATA


0ate collection for this research was done primarily through filling up of questionnaire. The sample for the research including different individuals of various age groups and having different professions and qualifications. 0ata was collected through the interview of individuals. The questionnaire was containing questions regarding the personal details of individuals and then some light questions regarding their primary knowledge related to private insurance companies. Then there were questions related to their interest in !eing the Insurance onsultants of company.

-ECONDAR= DATA
% large amount of secondary data has !een collected from secondary sources. &ome of the sources are34 Eeports on Insurance &ector of India. %rticles from @ewspapers and magazines. Karious we! sites of the insurance companies and related sites .

DATA ANAL=- There are some features of analyzing data that need to !e !orne in mind when choosing the method for analyzing the research. The questionnaire were prepared to explore the psychology of individuals a!out !eing associated with $a'a' %llianz as Insurance onsultants and to help the company grow !y increasing its sales. Instead of testing a hypothesis, a qualitative analyst may demonstrate evidence showing that a theory, generalizing, or interpretation is plausi!le .

-AMPLE - FE>D
Karious areas of 0elhi were covered in order to fill the questionnaire. I interacted with -<< individuals in order to know a!out their interest of !eing Insurance onsultants of $a'a' %llianz. 87

-AMPLE COMPO- T ON
Fouth Hxecutives &erviceman $usiness persons

RE-EARCH DE- GN >


% research design provides the framework to !e used as a guide in collecting and analyzing data.

Descriptive Research : #arket survey is one of the !est example of descriptive


research. This is a one shot research study at a given point of time, and consists of a sample of the population of interest. Its advantages are that it gives a good overall picture of the position at a given time. It can cover many varia!les of interest, and is not affected !y the movements of elements in the sample, !ecause other elements can !e su!stituted for them.

AGENTS LICENSED BY THE A THO!ITY "#$$%&#$$'( " !BAN AND ! !AL(


LIFE INS !E!S
N a $e $ % D % D % ( ( I% @ S ( I* H I@ & C E % @ H 9. (T0 T % T % % I1 ( I* H I@ & C E % @ H 9 . (T0 % # " & % @ # % E I@ & C E % @ H 9.(T0. ;r(an -:=))>7=< 2--8 72..><=.-2 -=:.: >2<2 )>.=7: . 8:== R"ral .>8: ):= >:> 2. ))> )<.=.)8 )>=:)7 == To&al .-8:< )>>>= 7<).

$ IE ( % & C @ ( I* H I@ & C E % @ H 9.(T0. % K IK % ( I* H I@ & C E % @ H 9 I@ 0 I% "KT. (T0. H 0 * & T % @ 0 % E 0 ( I* H I@ & C E % @ H 9. (T0. I I I " E C 0 H @ T I% ( ( I* H I@ & C E % @ H 9. ( T 0 . I@ 1 K F & F % ( I* H I@ & C E % @ H 9. "KT. (T0. ( I* H I@ & C E % @ H 9 E " 9 E % T I9 @ 9 * I@ 0 I% # % P @ H ? F 9 E ; ( I* H I@ & C E % @ H 9.(T0

72>7 .:)= )<.78 -==.< >>-< .7.>>. 8==:

88

# H T ( I* H I@ 0 I% I@ & C E % @ H 9. "KT. (T0. ; 9 T % ; # % H I@ 0 E % 9 ( 0 # C T C % ( ( I* H I@ & C E % @ H 9 . ( T 0 . & % H % E % I@ 0 I% ( I* H I@ & C E % @ H 9. (T0. & $ I ( I* H I@ & C E % @ H -"( To&al 9. (T0.

..)< ->>) )=<: .73#.54

82 -<2 < -8> *64#57/

..>2 -=>8 ) -)>7 16.#847

DATA ANAL=- ->D


%fter collection of data, the analysis of it was done through various graphs34 0oughnut "ie 0iagram $ar 0iagram Tu!es ones

%ccording to the data collected through survey with the help of questionnaire, the !reak up with respect to income of individuals is as follows 3

MONTHL= NCOME
<47<<< 7<<<4)<<<< )<<<<4)7<<< )7<<<4-<<<< -<<<< %@0 %$9KH

N;MBER OF ND < D;AL2. 8< 2= .)8

$reak up according to monthly income


+$ '$

@um!er of individua ls

%$ *$ #$ )$ $ $k&'k 'k&)$k )$k&)'k )'k&#$k #$ an, a-o.e $&'

)kT)<<<

8>

ANAL=- - FOR THE O<ERALL NCOME GRO;P

-er,ice$enB/.P

B"!ine!!$enD46P

3$ "er1i9e:en Bu7ine77:en 6%

Grad"a&e B 73P

Be'ond Grad"a&eD3P

5
0raduate ),n 0raduate

&5

8:

Co$2an'
HDFC -&andard Bajaj Allianz C C Pr" Life Birla -"nlife Ta&a A G

Pre$i"$ nco$e @crA


/3.%*1 41/%37 6*7%53 .85%7/ *67%.1

Mar?e& -hare @PA


/%** 3%46 5%.1 *%61 *%45

&% &%

16% !FC "tandard Bajaj Allianz ICICI Pru Li#e $&% Birla "unli#e /ata AI0

37%

9* % 0o you know a!out the $a'a' %llianz (ife Insurance companiesI


An!% The response of individuals are as 34 =e!D 48P NoD18P

40 +e7 ), 60

8=

9.% ?ould you like to earn some extra moneyI An!% The response of individuals is as follows 3 =e!D 78P NoD*8P

10 +e7 ), &0

9/% ?hat is desired or expected monthly incomeI An!% The response of individuals are as follows 34 MONTHL= NCOME
8D3888 3888D*8888 *8888D*3888 *3888D.8888 .8888 and a(o,e

P of 2eo2le
8 . *8 53 */

13

0$

10 0;5000 5000;10000 10000;15000 15000;$0000 $0000 and a<,1e

75

><

91% How much time you can provide easily !esides your 'o! hoursI An!% The response of individuals are as follows34 T ME PER OD
8D. .D1 1D4 F"ll hr!% hr!% hr!% &i$e

P 2eo2le
1. 13 ** .

11

$ 0;$ 4r7. 4$ $;4 4r7. 4;6 4r7. Full ti:e

45

93% 0o you have your own vehicleI An!% The response of people is as follows 34 =e!D 74%3P NoD/%3P

3.5

+e7 ),

&6.5

>)

94% 0o you have your own mo!ileI An!% The response of people is as follows 3 =e!D 76P
$

NoD.P

+e7 ),

&%

95% ?ould you like to work in market/field and want to interact with peopleI An!% The response of individuals is as follows 34 Fes4 87A @o4 .7A

35 +e7 ), 65

>-

96% ?ould you like to come our company office and spend your some time with our people in a seminarI An!% The response of people are as follows 34 Fes4 27A @o4 77A

%'/ ''/

97% 0o you want that a sales manager should approach you for agencyI An!% The responses of people are as follows 3 =e!D 41%/P NoD/3%5P

%0 60 40 $0 0

64.3

35.7

"1 +e7 ),

>.

9*8% How many people do you know in 0elhiI An!% The responses of people are as follows3 4 MONTHL= NCOME
8D3888 3888D*8888 *8888D*3888 *3888D.8888 .8888 and a(o,e

P of 2eo2le
*3 *8 /3 .3 *3

"1 0;5000 5000; 10000 10000; 15000 15000; $0000 $0000 and a<,1e

>2

MPORTANCE OF AD< -OR- N AN N-;RANE COMPAN= >


In the insurance industry the sales team following the typical organization structure3

Hierarch' in n!"rance Co$2an'


-ALEMANAGER

AREA -ALEMANAGER

AREA -ALEMANAGER

AREA -ALEMANAGER

;N T MANAGER

;N T MANAGER

;N T MANAGER

AD< -OR-

AD< -OR-

AD< -OR-

The sales team comprises of the &ales #anager superior to %rea &ales #anager, These %&#s +%rea &ales #anager, have their own individual team of Cnit #anager and in turn Cnit #anagers their own team of financial advisors. Hach team of %&#s competing with each other in surge of achieving targets, each Cnit #anager depends on their %dvisors for their !usiness. They represent the company in the market to the customers, so no!ody can deny the importance of %dvisors in the whole system. They providing the company with the !usiness and help their respective Cnit #anager to achieve their targets. &o a unit #anager has to !e really careful while recruiting their %dvisors. 0uring the year of appointment, new %dvisor usually account for a relatively small proportion of the organizations total production. The most promising means of achieving profita!le production growth lies in your sales organizations capacity to give policy owners good counsel and prompt, >7

courteous serves Gto give them value for premium paid. The !est guarantee of having that capacity comes from retaining large num!er of productive advisor. onsequently, the development needs of your sales organization call for successful recruiting. Its a necessity. This is why manager who move to the top of $a'a' %llianz honor roll and stay there are always found to !e manpower4focused. $efore we move to the 5how to6 of recruiting, lets consider some important philosophies relative to recruiting.

F <E PER- -TENT CONCERN->


%s an $a'a' %llianz #anager, you are fully committed to !uilding a high performing, growing agency. This !eing true, it follows those five concerns must !e constant in your annual planning. The -EARCH for talent The E<AL;T ON of potential advisors The ATTRACT ON of advisors The RETENT ON of advisors The PROD;CT < T= of advisors An' $ana)er 0ho a&&ain! !a&i!f'in) re!"l&! in &he!e fi,e area! 0 ill enjo' &atisfying sales results 9utstanding persistency of !usiness &uperior policy owner service capa!ilities %n envia!le reputation as a $a'a' %llianz agency !uilder % momentum which comes from the synergistic !enefit of success

>8

CHA!T SHO0ING HO0 TO GET 1OTENTIAL AD2ISO!3


Putting it simply in a flow

SEA!CH
=4ere t, l,,- #,r

ATT!ACT
,* t, attra9t t, li#e In7uran9e

E2AL ATE
,* t, e1aluate

1!OD CTI2ITY

!ETENTION

>>

COMPET T <E AD<ANTAGE

-WOT ANAL=- ->

En,iron$en&al -can

n&ernal Anal'!i!

E+&ernal Anal'!i!

-&ren)&h

Wea?ne!!e!

O22or&"ni&ie!

Threa&!

>:

-WOT ANAL=- -&ren)&h!


&trong !rand name ustomer loyalty

"roduct Quality 1ood reputation among customers

Wea?ne!!e!
Insufficient product promotion Cnawareness a!out the product

O22or&"ni&'
%llianz $a'a' adds complete suite of group insurance products to its product "ortfolio %llianz $a'a' plans to focus on group insurance for its next phase of aggressive growth %n unfilled customer need

Threa&
Hmergence of su!stitute products Eesistance to change @on4 response from the target customers

>=

F ND NG

"eople are !ecoming more N more money conscious as I didnt find any person who doesnt want to earn extra money.

"eople are very much aware of I I I "rudential among private companies and (I in pu!lic sector as they respond me first name of (I then I I I prudential and then others.

The overall scenario is that still people trust on (I

more than any other

insurance company. &ometimes when I asked someone to !ecome an agent of $a'a' %llianz they misunderstood with (I . *or them still life insurance means (I .

1enerally people are having leisure time of around -4. hrs and still want to utilize this time to earn extra money, if they can.

ontrary of the prior thinking most of the people dont hesitate in doing field work an roaming in the market. They know that without hard work they cant earn money.

There were many respondents who were not interested in attending seminar conducted !y $a'a' %llianz among Indian #arket.

:<

RECOMMENDAT ON-

There should !e focus on advertisements through T.K. or other Hlectronic #edia.

Try to make $rand Image, with the help of $a'a' %uto, more N more as it has a strong !rand image in Indian market.

#ake use of internet !anking for increasing sales, and also for promotion. They should increase their 0istri!ution easily. hannels !y more N more tie ups with

the locals !anks also, !ecause they can help them to penetrate in Indian market

There should !e more incentives to I s as they are the !ack!one of the company in order to increase sales they have to do more efforts than others.

:)

B BL OGRAPH=
LIFE INS !E!S Li#e In7uran9e C,r>,rati,n ,# India ICICI Prudential Li#e In7uran9e C,. Li:ited Birla "un;Li#e In7uran9e C,:>an6 Li:ited !FC "tandard Li#e In7uran9e C,. Li:ited I)0 5676a Li#e In7uran9e C,:>an6 Li:ited 'etLi#e In7uran9e C,:>an6 Li:ited 2: 3,ta- 'a4indra Li#e In7uran9e C,. Ltd. /A/A AI0 Li#e In7uran9e C,:>an6 Li:ited Bajaj Allianz 0eneral In7uran9e C,. Li:ited C4,la:andala: 0eneral In7uran9e C,. Ltd. In7uran9e 8egulat,r6 !e1el,>:ent Aut4,rit6 Li#e In7uran9e C,r>,rati,n ,# India 8,6al "undara: Allian9e In7uran9e C,. Ltd. In7uran9e 8egulat,r6 !e1el,>:ent Aut4,rit6 0e-s4tes ***.li9india.9,: ***.i9i9i>ruli#e.9,: ***.<irla7unli#e.9,: ***.4d#9in7uran9e.9,: ***.ing167a6ali#e.9,: ***.:etli#e.9,: ***.,:-,ta-:a4nidra.9,: ***.tata;aig.9,: ***.<ajajallianz.9,.in ***.94,lain7uran9e.9,: ***.irdaindia.,rg ***.li9india.9,: ***.r,6al7un.9,: ***.irdaindia.,rg

:-

BOOK- WERE CON- DERED

#arketing management !y Mr% Phili2 Ko&ler% "rinciples of marketing !y Mr% Richard Ar$!&ron)% #arketing &trategy and #anagement !y Mr% Michael E% Ba?er% #arketing hannels !y Mr% Lo"i! -&ern

$usiness Eesearch #ethodology !y Mr% C%R% Ko&hari%

B;- NE-- MAGAF NE G NEW- PAPER

The Times of India The Hconomic Times 2"s, "itch, $usiness N Hconomy

:.

9;E-T ONNA RE 9*% 0o you know a!out the $a'a' %llianz (ife Insurance companiesI
Fes @o

9. % ?ould you like to earn some extra moneyI


Fes @o

9/% ?hat is desired or expected monthly incomeI


< G 7<<< 7<<< G )<<<< )<<<< G )7<<< )7<<< G -<<<< -<<<< and %!ove

91 % How much time you can provide easily !esides your 'o! hoursI
<4248 84: *ull Time

93 % 0o you have your own vehicleI


Fes @o

94% 0o you have your own mo!ileI


Fes @o

95 % ?ould you like to work in market/field and want to interact with


peopleI
:2

Fes

@o

96% ?ould you like to come our company office and spend your some
time with our people in a seminarI Fes @o

97% 0o you want that a sales manager should approach you for agencyI
Fes @o

9*8% How many people do you know in 0elhiI


Fes @o

:7