SUMMER INTERNSHIP

REPORT ON

SUBMITTED TO:
SUBMTTED BY:
MR. AMAR JOHRI
SINGH

MONIKA
B.B.A. V. SEM

FINANCE

ACKNOWLEDGEMENT
A summer project is a golden opportunity for learning and self development. I consider myself
very lucky and honored to have so many wonderful people lead me through in completion of this
project.
I wish to express my indebted gratitude and special thanks to " Naveen Kapoor " who in spite of
being extraordinarily busy with her/his duties, took time out to hear, guide and keep me on the
correct path and allowing me to carry out my industrial project work at their esteemed
organization and extending during the training .I do not know where I would been without him.
A humble Thank you Sir.
I express my deepest thanks to Prof. ............ for their guidance and support. He supported to us
by showing different method of information collection about the company. He helped all time
when we needed and he gave right direction toward completion of project.
I extend my gratitude to GRAPHIC ERA UNIVERSITY for giving me this opportunity. It is
not possible to prepare a project report without the assistance & encouragement of other people.
This one is certainly no exception. Every work accomplished is a pleasure sense of satisfaction.
However a number of people always motivate, criticize and appreciate a work with their
objective, ideas and opinions. On the very outset of this report, I would like to extend my sincere
& heartfelt obligation towards all the personages who have helped me in this endeavor.

Thanking You
MONIKA SINGH

PREFACE
B.B.A. is a stepping stone to the management carrier and to develop good manager it is
necessary that the theoretical must be supplemented with exposure to the real environment.
Theoretical knowledge just provides the base and it is not sufficient to produce a good manager.
Thats why practical knowledge is needed.
Therefore the summer internship is an essential requirement for the student of B.B.A. This
research project not only helps the student to utilize her skills properly learn field realities but
also provides a chance to the organization to find out talent in the budding managers in the very
beginning.
In accordance with the requirement of my B.B.A. course I have done my summer training project
on the topic EQUITY SHARE PRICE BEHAVIOUR. The main objective of the research was
to analyze various factors effecting equity share price.
The Indian capital market has witnessed a tremendous growth. There was an explosion of
investors interest during the nineties and equity guilt emerged in statutory legislations has
helped the capital market. Foreign exchange regulation act is one such legislation in this
direction.
My work in this project is therefore, a humble attempt towards this end. In spite of my best
efforts there may be errors of omission and commissions, which may please be excused.

EXECUTIVE SUMMARY

DECLARATION BY STUDENT
I, the undersigned, hereby declare that the project report entitled, EQUITY SHARE PRICE
BEHAVIOUR submitted by me to GRAPHIC ERA UNIVERSITY, in partial fulfillment of
the requirement for the award of degree of BACHELORS OF BUSSINESS
ADMINISTRATION under the guidance of MR. AMAR JOHRI, is my original work and the
conclusions drawn there in are based on the data collected by myself.
The report submitted is my own work and has not been duplicated from any other source. I shall
be responsible for any unpleased moment or situation.

Place: DEHRADUN
Date:
MONIKA SINGH

INDUSTRY PROFILE
An Introduction to insurance
What is insurance?
Insurance is a contract between the insurance company (insurer) and the policyholder (insured).
In return for a consideration (the premium), the insurance company promises to pay a specified
amount to the insured on the happening of a specific event.

History of insurance sector in India

The history of insurance can be divided into three phase as follows:

Phase I Pre-Liberalisation

Phase II - Liberalisation

Phase III Post Liberalisation

Phase I Pre- liberalization

1818 1829: First insurance company; in 1818 the Oriental Life Insurance Company in
Kolkata (then Calcutta) was the first company to start a life insurance business in India.
However, the company failed in 1834. In 1829 the Madras Equitable had begun transacting life
insurance business in Madras Presidency.
1870: Following the enactment of British Insurance Act 1870, the last three decades of the
nineteenth century saw the creation of the Bombay Mutual (1871), Oriental (1874) and empire of
India (1897) in the Bombay Residency.
1912: The Indian Life Assurance Companies Act 1912 was the first statutory measure to
regulate life business.
1928: The Indian Insurance Companies Act1928 gave the government the power to collect
statistical information about both life and non life business transacted in India by Indian and
foreign insurer, including provident insurance societies.
1938: To protect the interest of the insuring public, the earlier legislation was consolidated and
amended by The Insurance act 1938 which gave the government effective control over the
activities of insurers.
1950s: In the 1950s, competition in the insurance business was very high and there were
allegations of unfair trade practices. The Government of India therefore decided to nationalize
insurance business.
1957: Formation of The General Insurance Council (GI Council).
1972: The General Insurance Business Act 1972(GIBNA) was passed under section 9(1).

Phase II Liberalization
1993: Malhotra Committee: in 1993 the government set up a committee under the chairmanship
of R .N. Malhotra, the former Governor of RBI, to make recommendation for the reform of the
insurance sector. In its report 1994, the committee recommended, among other thing, that the
private sector and foreign companies be permitted to enter the insurance industry.
1999: Formation of the IRDA, the insurance regulatory and development authority to
regulate and develop insurance industry. The IRDA was incorporated as a statutory body in
April 2000.

Phase III Post- liberalization

General Insurance Business (nationalization) Amendment Act 2002, effective from 21 march
2003, GIC ceased to be a holding company of its four subsidiaries. GIC was notified as a
reinsurance company. And also, various amendments were taken place.

Type of Insurance Organization

Insurance organization are divided into three main categories.
Life insurance
Non - life insurance
Reinsurance

Life Insurance companies

Life insurance companies cover risk that relate to human lives. They offer different benefits
under different types of product and cover the risk of early death, as well as the risk of living into
old age. Under traditional plans, like term insurance plan, insurance companies provide death
cover. If the insured person dies within the term of policy then the nominee / beneficiary is paid a
specified amount (also known as the sum assured).

Non-life Insurance companies

Non-life insurance companies generally cover risk other than those relating to humans lives. The
exceptions are personal accident and health insurance, which are provided by Non-life insurance
companies. Any asset either giver monetary return (e.g. a house given on rent),or offer
convenience(e.g. a car which can be used to travel from one place to another) can be insured.
Reinsurance
A reinsurer is an insurer for the insurance company as per section A2.

Main life insurance products

These are of five types:

Term insurance plans

Endowment insurance plans
Whole life insurance plan
Pension and saving plans
Unit linked insurance plan(ULIPs)

Non - life insurance product

Fire insurance
Marine insurance
Miscellaneous
Motor insurance
Property insurance
Liability insurance
Health insurance
Travel insurance

Insurance distribution
Marketing of insurance products is done through two channels:

Direct marketing channels

Indirect marketing channels

Direct channels of marketing:

These are those where customer directly meets to the insurance company and buy its product
without the intervention of any agents.

Indirect channels of marketing:

Individual agents
Insurance brokers
Direct brokers
Reinsurance brokers
Composite brokers
Comparison websites

Life Insurance Companies in India

1. HDFC Standard Life Insurance Co. Ltd.
2. Max New York Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Kotak Mahindra Old Mutual Life Insurance Co. Ltd.
5. Birla Sun Life Insurance Co. Ltd.
6. Tata AIG Life Insurance Co. Ltd.
7. SBI Life Insurance Co. Ltd.
8. ING Vysya Life Insurance Co. Ltd.
9. Bajaj Alliance Life Insurance Co. Ltd.
10. Met Life Insurance Co. Ltd.
11. Reliance Life Insurance Co. Ltd.
12. Aviva Life Insurance Co. Ltd.
13. Sahara India Life Insurance Co. Ltd.
14. Shri ram Life Insurance Co. Ltd.
15. Bharti AXA Life Insurance Co. Ltd.
16. Future Generali India Life Insurance Co. Ltd.
17. IDBI Federal Life Insurance Co. Ltd.
18. Canara HSBC OBC Life Insurance Co. Ltd.
19. Aegon Religare Life Insurance Co. Ltd.
20. DLF Pramerica Life Insurance Co. Ltd.
21. Life Insurance Corporation of India
22. Star Union Dai-ichi Life Insurance Co. Ltd.
23. India First Life Insurance Company Limited.

IDBI Bank Limited

Bank Aisa Dost Jaisa

Type - Public Sector

Traded as- BSE :500116
Industry- Provide Banking & Financial services
Predecessor IDBI Limited
Founded- July 1964
Headquarters Mumbai, India
Key people- M.S. Raghavan (Chairman & MD)
Products -consumer banking, corporate banking, finance and insurance, investment
banking, mortgage loans, private banking, private equity, wealth management,
Agriculture Loan
Revenue- 282.84 billion
Operating Net income- 54.58 billion
Income- 18.82 billion
Total Assets-3.23 trillion
Employees- 15465(march 2013)

About IDBI Federal Life Insurance

IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, Indias premier
development and commercial bank, Federal Bank, one of Indias leading private sector banks
and Ageas, a multinational insurance giant based out of Europe. In this venture, IDBI Bank owns
48% equity while Federal Bank and Ageas own 26% equity each. . Having started in March
2008, in just five months of inception, IDBI Federal became one of the fastest growing new
insurance companies to garner Rs 100 Cr in premiums. Through a continuous process of
innovation in product and service delivery IDBI Federal aims to deliver world-class wealth
management, protection and retirement solutions that provide value and convenience to the
Indian customer. The company offers its services through a vast nationwide network of 2137
partner bank branches of IDBI Bank and Federal Bank in addition to a sizeable network of
advisors and partners. As on 28th February 2013, the company has issued over 8.65 lakh policies
with a sum assured of over Rs. 26,591 Cr.
IDBI Federal today is recognized as a customer-centric brand, with an array of awards to their
credit. They have been awarded the PMAA Awards (2009) for best Dealer/Sales force Activity,
EFFIE Award (2011) for effective advertising, and conferred with the status of Master Brand
2012-13 by the CMO Council USA and CMO Asia..
The Bank has an aggregate balance sheet size of INR 3.2 trillion as on 31 March 2013

About the sponsors of IDBI Federal Life Insurance Co Ltd

IDBI Bank Ltd. continues to be, since its inception, Indias premier industrial development
bank. It came into being as on July 01, 1964 (under the Companies Act, 1956) to support Indias
industrial backbone. Today, it is amongst Indias foremost commercial banks, with a wide range
of innovative products and services, serving retail and corporate customers in all corners of the
country from 1077 branches and 1702 ATMs. The Bank offers its customers an extensive range
of diversified services including project financing, term lending, working capital facilities, lease
finance, venture capital, loan syndication, corporate advisory services and legal and technical
advisory services to its corporate clients as well as mortgages and personal loans to its retail
clients. As part of its development activities, IDBI Bank has been instrumental in sponsoring the
development of key institutions involved in Indias financial sector National Stock Exchange of
India Limited (NSE) and National Securities Depository Ltd, SHCIL (Stock Holding
Corporation of India Ltd), CARE (Credit Analysis and Research Ltd).

Federal Bank
Federal Bank is one of Indias leading private sector banks, with a dominant presence in the
state of Kerala. It has a strong network of over 1060 branches and 1158 ATMs spread across
India. The bank provides over four million retail customers with a wide variety of financial
products. Federal Bank is one of the first large Indian banks to have an entirely automated and
interconnected branch network. In addition to interconnected branches and ATMs, the Bank has a
wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where
Banking, debit cards, online bill payment and call centre facilities to offer round the clock
banking convenience to its customers. The Bank has been a pioneer in providing innovative
technological solutions to its customers and the Bank has won several awards and
recommendations.

About Ageas Group

Ageas is an international insurance group with a heritage spanning more than 180 years. Ranked
among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business
activities in Europe and Asia, which together make up the largest share of the global insurance
market. These are grouped around four segments: Belgium, United Kingdom, Continental
Europe and Asia and served through a combination of wholly owned subsidiaries and
partnerships with strong financial institutions and key distributors around the world. Ageas
operates successful partnerships in Belgium, UK, Luxembourg, Italy, Portugal, Turkey, China,

Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and UK. Ageas is the
market leader in Belgium for individual life and employee benefits, as well as a leading non-life
player through AG Insurance. In the UK, Ageas has a strong presence as the fourth largest player
in private car insurance and the over 50s market. Ageas employs more than 13,000 people and
has annual inflows of more than EUR 21 billion.

IDBI Federal Life Insurance Co. Ltd.,(formerly IDBI Fortis Life Insurance) is a joint venture
between three financial companies development and commercial bank, IDBI Bank, Indias
private sector bank, Federal Bank and European insurer Ageas (formerlyFortis), which was
formed on March 2008. In this venture, IDBI Bank owns 48% equity while Federal Bank and
Ageas own 26% equity each.

Details of IDBI

2006: IDBI Bank, Federal Bank and Belgian-Dutch insurance major Fortis Insurance
International NV signed a MoU to start a life insurance company

2008: IDBI Fortis Life Insurance Co. Ltd., which started its operations in March 2008

2008: IDBI Fortis opens its second branch in Andhra Pradesh in Vijayawada

2008: IDBI Fortis Life positive on assured return products

2008: IDBI Fortis launches the Bondsurance Plan

2009: IDBI Fortis announces Rs 250cr capital infusion

2009: Nimbus ropes in IDBI Fortis as title sponsor of IndiaSri Lanka series

2009: 'IDBI Fortis' Boss-Ka-Boss receives PRCI Award

2009: IDBI Fortis launches Retiresurance Pension Plan

2009: IDBI Fortis scores with Goalsurance

2009: IDBI Fortis reaches the banks of Hoogly

2009: IDBI Fortis launches Incomesurance Immediate Annuity

2009: IDBI Fortis Life Insurance uses an interactive application to help users easily
calculate their taxes

2009: IDBI Fortis reaches the City of Eastern Light

2009: IDBI Fortis receives bronze Dragon at 'PMAA 2009'

2009: IDBI Fortis Life Insurance introduces financial inclusion plan in rural Orissa

2009: IDBI Fortis launches Termsurance Protection Plan

2009: IDBI Fortis redefines endowment & money back with Incomesurance

2009: IDBI Fortis to open 65 more branches; raise headcount by 1,000

2010: IDBI Fortis now renamed as IDBI Federal Life Insurance Company
Technology

To monitor and manage its network equipment across 34 sites, IDBI Federal uses Tulip Proactive
Managed CE solution. The solution includes device management, proactive troubleshooting and
notification support. With the implementation of the solution, IDBI has reported improvement of
network performance and availability, with a faster, more effective change and configuration
management
Products
IDBI Federal launched its first set of products across India in March 2008, after receiving the
requisite approvals from the Insurance Regulatory and Development Authority (IRDA). IDBI
Federal offers services through a nationwide network across the branches of IDBI Bank and
Federal Bank in addition to a network of advisors and partners. IDBI Federal has 1201 branches
across the country.

Sponsorship

IDBI Federal Life Insurance Company was the title sponsor for the India-Sri Lanka Cricket
Series 2009, consisting of five One-Day Internationals and a Twenty 20 match. The ODI series
was called the IDBI Fortis Wealthsurance Cup. This was followed by the IDBI Fortis
Wealthsurance Twenty20.
Wealthsurance Made Easy (WME), a knowledge aid by IDBI Federal for its sales force, won
The Bronze Dragon in the category for Best Dealer/Sales Force activity at the Promotion
Marketing Awards of Asia (PMAA).

History of IDBI

IDBI Bank Limited is an Indian government-owned financial service company, formerly known
as Industrial Development Bank of India, headquartered in Mumbai, India. It was established in
1964 by an Act of Parliament to provide credit and other financial facilities for the development
of the fledgling Indian industry.
It is currently 10th largest development bank in the world in terms of reach, with 2567 ATMs,
14737 branches, including one overseas branch at Dubai, and 996 centers, including two
overseas centre at Singapore & Beijing. IDBI Bank is on a par with nationalized banks and the
SBI Group as far as government ownership is concerned. It is one among the 26 commercial
banks owned by the Government of India.

1. Formation of Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of
Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 1976, the ownership of
IDBI was transferred to the Government of India and it was made the principal financial
institution for coordinating the activities of institutions engaged in financing, promoting and
developing industry in India. IDBI provided financial assistance, both in rupee and foreign
currencies, for green-field projects as also for expansion, modernization and diversification
purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI
also provided indirect financial assistance by way of refinancing of loans extended by State-level

financial institutions and banks and by way of rediscounting of bills of exchange arising out of
sale of indigenous machinery on deferred payment terms.
After the public issue of IDBI in July 1995, the Government shareholding in the Bank came
down from 100% to 75%.
IDBI played a pioneering role, particularly in the pre-reform era (196491), in catalyzing broad
based industrial development in India in keeping with its Government-ordained development
banking charter.
Some of the institutions built with the support of IDBI are the Securities and Exchange Board of
India (SEBI), National Stock Exchange of India (NSE), the National Securities Depository
Limited (NSDL), the Stock Holding Corporation of India Limited (SHCIL), the Credit Analysis
& Research Ltd, the Exim Bank (India), the Small Industries Development Bank of
India (SIDBI) and the Entrepreneurship Development Institute of India.

2. Conversion of IDBI into a commercial bank

A committee formed by RBI under chairmanship of S.H.Khan recommended the development
financial institution (IDBI) to diversify its activity and harmonize the role of development
financing and banking activities by getting away from the conventional distinction between
commercial banking and developmental banking. To keep up with reforms in financial sector,
IDBI reshaped its role from a development finance institution to a commercial institution. With
the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI
attained the status of a limited company viz., IDBI Ltd.
Subsequently, in September 2004, the Reserve Bank of India incorporated IDBI as a 'scheduled
bank' under the RBI Act, 1934. Consequently, IDBI, formally entered the portals of banking
business as IDBI Ltd. from 1 October 2004. The commercial banking arm, IDBI BANK, was
merged into IDBI in 2005.

3. Acquisition of United Western Bank

In 2006, IDBI Bank acquired United Western Bank Satara in a rescue. By acquiring UWB, IDBI
Bank more than doubled the number of its branches from 195 to 425.

Listing and Shareholding

IDBI Bank's equity shares are listed on Bombay Stock Exchange and the National Stock
Exchange of India.
As on 31 March 2014, Government of India held 76.72% shares in IDBI Bank. Over 4 lakh
public shareholders owned 8.75% of its shares. Insurance companies held approx. 12.32% of the
shares while remaining 7.21% shares were held by others.

Employee
As on 31 March 2013, the bank had 15,465 employees, out of which 197 were employees
with disabilities. The average age of bank employees on the same date was 33 years.The bank
reported business of INR 25.64 crores per employee and net profit of INR 12.17 lakhs per
employee during the FY 2012-13. The company incurred INR 1,538 crores towards employee
benefit expenses during the same financial year.

Award

IDBI Bank was ranked 1197 in the Forbes Global 2000 in May 2013.
It received the 'Overall Best Bank' and 'Best Public Sector Bank' awards in the
Dun & Bradstreet Banking Awards, 2011.
In 2011, it received Banking Technology awards for best use of Business
Intelligence and the best Risk Management from Indian Banks Association

Benefits provided by IDBI

PRODUCT PROFILE

WEALTHSURANCE
IDBI Federal Wealth Suvidha Growth Insurance Plan

A systematic allocator to help you build wealth with ease.

Option to choose how long you want to stay invested.
Guaranteed loyalty additions to boost up your wealth
Final protection against uncertainty.
Partial withdrawal for emergency fund requirement.

PlanOverview
IDBI Federal Wealthsurance Suvidha Growth Insurance Plan (UIN: 135L033V01) is a
simple unit linked plan that helps you take your first step towards wealth creation and that too,
with ease. Whats more, the life cover with this plan provides financial protection to your loved
ones.
Eligibility
Criteria

Minimum/
Maximum

Age at entry

Minimum

1 month (subject to minimum maturity age)

Maximum

65 years (subject to maximum maturity age)

Minimum

18 years

Maximum

75 years

Policy term

Fixed options

10 years, 15 years and 20 years

Premium
payment term

Fixed options

10 years and in multiples of 5 thereafter

Premium

Minimum

Rs. 15,000 p.a.

Maximum

Rs. 25,000 p.a.

Premium
payment mode

Fixed

Annual

Sum assured

Fixed

10 times the annual premium

Maturity age

All ages are as per last birthday

Why wealthsurance suvidha?

Systematic allocator to help you build wealth with ease

You have two options of managing funds in Wealthsurance Suvidha. You can either
manage the funds yourself or opt for Systematic Allocator. If you opt for Systematic
Allocator, you will enjoy a balance between growth and safety. In the early policy years,
your investment will have a higher exposure to equity. This will help your investments
have the potential to earn you higher returns. As the policy approaches maturity, your
investment will be automatically rebalanced to reduce the exposure to equity. This
ensures that your investment is protected from the ups and downs of the equity markets.
For more details on Systematic Allocator, please refer to the product brochure.

Option to choose how long you want to stay invested

With Wealthsurance Suvidha, you can choose the policy term (PT) which is the
duration for which you want to stay invested. In addition, you can also choose how long
you want to pay your premiums by choosing the premium payment term (PPT) most
suited to your needs. Please refer to the product brochure for combinations of PT and
PPT available.

Guaranteed loyalty additions to boost your wealth*

At the end of the 10th policy year and every 5 years thereafter, you get guaranteed loyalty
additions to boost your wealth.

Financial protection against uncertainty

In case of an unfortunate death during the policy term, your nominee gets the death
benefit which is the sum assured or the fund value at that time, whichever is higher. At
any time during the policy term, the death benefit will be more than 105% of all
premiums paid.

Partial withdrawals for emergency fund requirements

In case of a financial emergency, you can make partial withdrawals from your funds any
time after the 5th policy year. For more information on partial withdrawals, please refer
to the product brochure.

Two tax benefits

The premiums you pay under Wealthsurance Suvidha are eligible for tax benefit under
Sec 80C of the Income Tax Act, 1961. The maturity benefit and death benefit are also tax
free under Sec 10(10D).

Flexibility to switch funds and investment options

You can switch your investment option between Systematic Allocator and managing your
funds by yourself. Also, if you are managing your funds yourself, you can also switch
from one fund to the other.

Option to surrender
Wealthsurance Suvidha also provides the feature of surrendering the policy free of charge
after the 5th policy year. A surrender amount equal to the fund value as on date will be
paid out. Discontinuance charge will be applicable for policies surrendered within the
first 5 years of the term.

Exclusive funds for loved ones

By endorsing your Wealthsurance Suvidha policy under the Married Womens Property
Act, 1874, you can create an exclusive fund for your loved ones which is legally
protected from creditors and claimants.

Benefits of the Plan

Maturity Benefit
At maturity of the plan you will receive the fund value as on that date.

Death Benefit
In case the insured person dies before the maturity date while the
policy is still in force, the company will pay higher of sum assured or
fund value. In addition, at no time the death benefit would be less
than 105% of the total premiums paid till the date of death.

 Guaranteed
Loyalty Additions
The IDBI Federal Wealthsurance Suvidha Growth Insurance Plan
gives an added impetus to your Investment Account through
guaranteed loyalty additions. Your investment account will be
th credited with guaranteed loyalty additions at the end of 10 policy
year and every 5 years thereafter. Guaranteed loyalty additions will
be 3% of the average fund value in the last 36 months preceding
the guaranteed loyalty addition date. If you have invested in
multiple funds, we will add the guaranteed loyalty additions to
each fund in the same proportion as the fund value in each fund.

Investment Fund options

You can choose to invest your money in the following funds:

Equity Growth Fund (SFIN: ULIF04111/01/08EQOPP135

Investment objective
&strategy
Invests in listed stocks and
aims to generate high returns
by picking
stocks that have growth
prospects. It aims to diversify
risk by investing
in large cap as well as mid cap
stocks across multiple sectors.
The fund
will usually have a high
proportion of investments in
equities and
equity-linked instruments
other than in market
conditions that

Asset Category

Cash and money

market

Equities and equitylinked instruments

Allocation

0 50%

50 100%

warrant diversification into

money market
Returns and Risk
The returns from the Equity Growth fund are likely to be high
but the risk is also high.

Income Fund (SFIN: ULIF04211/01/08INCOME135

Investment Objective and
Strategy
Aims to generate returns by
investing in fixed income
and money market
investments that carry low or
medium market risk. The
duration of the underlying
portfolio will be medium.
The fund may use
derivatives to meet its
objective to the extent
permitted by the applicable
guidelines

Asset Category

Allocation

Fixed income
investments

25 - 100%

Cash and money

market

0 75%

The returns from the Income fund are likely to be related to

short-term interest rates and the risk is also low

How to change your investment options

Your investment preferences may change over time. You can change the mix of your investment
options in the following two ways:
Switching
At any time you may instruct the company in writing to switch
some or all of the units from one unit linked fund to another. The
company will give effect to this switch by cancelling units in the
old fund and allocating units in the new fund.
Note: Switches advised prior to 3:00 pm will be processed at unit price of
the date of receipt of instructions, while switches advised after 3:00 pm
will be processed at the unit price of the day following the date of receipt of
instruction. Currently there is no switching charge. The switching charge
may be introduced up to a maximum of `500 per request with the prior
approval of IRDA.
Premium Redirection
At any time you may instruct the company in writing to redirect
all your future premiums in an alternative proportion to the
various unit funds available. Redirection will not affect the
premiums paid prior to the request.
Note: Minimum amount of premium redirection in any investment fund
should be at least 15% of the annual premium. This is not applicable if you
have opted for the Systematic Allocator.

Applicable NAV
New business premiums will be allocated units at the NAV as on
the date of commencement of the policy after completion of
the proposal.
Switches in investment fund(s) and renewal premiums received
before the cut-off time at our designated office through local
cheque or demand draft payable at par at the place the premium
is received will be allocated units at the same days NAV. If
received after the cut-off time, the units will be allocated at the
next business days NAV.
Renewal premiums paid through outstation cheques or
outstation demand drafts will be allocated units as per the NAV on
the business day of realisation of the cheques or demand drafts.
In case you pay your renewal premiums in advance, the units will
be allocated as per the NAV prevailing on premium due date.

In case of cancellation of units for charges and valid notification

and instructions received at our designated office for switches out,
partial withdrawals, surrenders and death claims, we will apply the
same days NAV if the request is received before the cut-off time.
Else, the request will be processed at the next business days NAV.
The cut-off time will be as per the IRDA guidelines, which, at
present is 3.00 pm.

Allocation of units
The company applies premiums less premium allocation
charges to allocate units in one or more of the unit linked funds
in the proportion that the policy owner specifies

Cancellation of units
To meet charges and to pay benefits, the company will cancel
proportionate units equal in value to the amount of the payments
which are due. If the units are held in more than one unit linked
fund, then the company will cancel proportionate units in each
fund to meet the amount of the payment due. For partial
withdrawals, the company will cancel units in the unit linked
funds as instructed by the policy owner. To meet charges, units
will be cancelled from the various funds in the manner described
in the general terms and conditions.

Liquidity Benefits: Partial withdrawals

You can make partial withdrawals at any time during the policy
term subject to the total amount being withdrawn in any policy
year is not more than 20% of the fund value as at the beginning
of that policy year. We will not allow partial withdrawals which
would result in termination of the contract. The minimum
amount of any partial withdrawal is `10,000. The fund value
after the partial withdrawal should not be less than one annual
regular premium.
In a policy where life insured is minor, partial withdrawals will be
allowed only after the insured person attains the age of 18. Units
to the value of each withdrawal are cancelled from the unit linked

funds according to the proportions that the policy owner

specifies. Currently, there is no partial withdrawal charge. The
partial withdrawal charge may be introduced up to a maximum
of `500 per request with the prior approval of IRDA.
Partial withdrawal will not reduce the minimum death benefit of
105% of the total premiums paid till the date of death
Reduction in death benefits following a partial withdraw
In the event of the death of the insured person before age 60, we
will deduct the total of any partial withdrawals made in the two years preceding the date of death
from the sum assured. On the 60 birthday of the insured person, we will reduce the sum
assured by the total amount of all withdrawals made between
the insured persons 58 and 60 birthdays. We will further
reduce the sum assured by the amount of any withdrawals made,
after attaining the age of 60.
However the minimum death benefit paid will always be 105% of
all premiums paid till date of death

Surrender
Your policy will have a lock-in period of five years from the date of inception. If the policy is
surrendered within the lock in period, a discontinuance charge will be applicable as given in the
section on Discontinuance of Basic Premiums. We will credit the fund value less the
discontinuance charge, to the discontinued policy fund and the insurance benefit will cease. At
the end of the lock-in or revival period (whichever is later), we will terminate your policy and
refund the proceeds of the discontinued policy. After completion of the five year lock in period
you may surrender your policy at any time and there is no surrender charge and we will pay you
the entire fund value as on the date of surrender.

Eligibility Conditions
Eligibility Criteria
Age at entry
Maturity age
Policy term
Premium payment
term
Premium
Premium payment
mode
Sum assured

Minimum /
Maximum

OBJECTIVES OF STUDY

FINDING & SUGESSTIONS

1.