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EXAMINATION INSURANCE ®

Don’t take TENSION, kyunki


ab failure ko bhi hai PENSION

Product Description:
Examination being the toughest part of
student’s educational life, most of the students
fails the examination and intends to take risky
decision like suicide. This is due to their
unconsciousness mind, stress given by their
parents regarding results and high amount of
fees.

In order to cope with this scenario our


company YOUNGISTAN INSURANCE
GROUP ® has introduced an insurance
product called ‘EXAMINATION INSURANCE’
which would help the students in removing their
stress of unexpected results.
 Criteria:

 Only H.S.C. passed students would be


applicable for this policy.

 Students with the percentage of minimum


40% are applicable.

 Age limit - 17 to 23 years.

 Applicable for students studying in India


only.

 Maturity period up to 1 year. (Renewal is


optional)
 Benefits:

 Reduces stress of students.

 80% recovery of fees in case of failure.

Student can concentrate more on their


studies.

Number of suicide cases among students


would be reduce.
 Details of premium:

 Premium would be calculated monthly


depending upon the annual fees of the
institution.

 12% Service tax and 8% Commission would


be charged.

For example – If an institution charges Rs.16000


as fees then the premium for 1 month would be

16000
+ 12% service tax + 8% comm.
12 months

= Rs.1615 per month

 Premium should be paid by cheque or cash.


 Documents required for getting a
policy:

 Student’s college Identity card.

 Fee receipt.

 Address proof of student.

 No Objection Certificate from parents.

 Documents required in case of


claim:

 Original Mark-sheet.

 Original Hall-ticket.

 Identity card.

 Policy certificate.
 Latest premium receipt.

 Conditions:

 Premium would be calculated on annual fees


of institution.

 Applicable only for H.S.C. passed students.

 In case of not attending any paper no refund


would be provided.

 Material statement to be provided at the time


of claim.

 In Case of Copy, No refund would be


provided.
 Marketing Strategy:

 T.V. advertisements.

 Through Internet (Orkut, Yahoo, Gmail, Face


book etc...)

 Mobile messages.

 Newspapers

Urban market is the area where the product


is being launched. We have chosen T.V.
advertisements as a primary mode of
communication to influence parents whereas
internet as a secondary mode to influence
teenagers because many of them are stick to
Internet (Orkut). Mobile being the most
commonly used device is used so through
mobile messages we will be conveying
information related to our product.

 Conclusion:

Thus by introducing
examination insurance we
motivate students and inspire
them to take their studies
seriously without any pressure of
getting failed. It is found that
students usually fail not because
they have not prepared for their
exam but instead due to stress. It
is also found that students
attempt suicide because they fail
in exams and ruin their whole
year so YOUNGISTAN
INSURANCE has introduced such
a product to reduce such
uncertainties from society. This
product will not only benefit the
students but also their parents.