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Submitted in partial fulfilment for the award of the degree

Master of Business Administration

Chhattisgarh Swami Vivekananda Technical University, Bhilai

Submitted by,


MBA – III Semester

(Session- 2009-2010)

Approved By, Guided By,

Head of the Department ASST.PROFESSOR

Shri Shankaracharya Institute of

Technology and Management
Junwani, Bhilai (C.G.) - 490020


I the undersigned solemnly declare that the report of the summer training work entitled “A STUDY


REFERENCES TO HDFC SLIC” is based on my own work carried out during the course of my

study under the supervision of MR.SAGAR RAY at HDFC.

I assert that the statements made and conclusions drawn are an outcome of my research work. I

further declare that to the best of my knowledge and belief the report does not contain any part of

any work which has been submitted for the award of MBA degree or any other

degree/diploma/certificate in this University or any other University of India or abroad.

(Signature of the
Enrollment No: AE7106


This project has greatly been a collaborative effort. I take this opportunity to thank all who have

helped in the preparation and successful completion of this project work. It gives me immense

pleasure to express my deep sense of gratitude to Mr.Ashish Shrivastav sir (Branch manager of

HDFC SLIC., for his valuable guidance and consistent supervision throughout the course of my


I also take this opportunity in expressing my sincere gratitude within a few words to tell my

faculties, seniors and my colleagues for their earnest help and guidance.

I sincerely thank the entire staff of HDFC Standard Life Insurance Company Ltd. for giving me

valuable support.





TABLE OF CONTENTS………………………………………………………………………

EXECUTIVE SUMMARY……………………………………………………………...………….…


(B) INTRODUCTION OF HDFC……………………………………………….

CHAPTER.2 COMPANY PROFILE………………………………………………………….


CHAPTER.3 LITERATURE REVIEW……………………………………………………….



CHAPTER.6 FINDING OF THE STUDY………………………………………………….

CHAPTER.7 LIMITATIONS…………………………………………………………………….

CHAPTER.8 RECOMMENDATIONS…………………………………………………………

CHAPTER.9 CONCLUSION………………………………………………………………….



In today’s corporate and competitive world, I find that insurance sector has the maximum growth

and potential as compared to the other sectors. Insurance has the maximum growth rate of 70-

80% while as FMCG sector has maximum 12-15% of growth rate. This growth potential attracts

me to enter in this sector and HDFC Standard Life Insurance Company Ltd has Given me the

opportunity to work and get experience in highly competitive and enhancing sector.

The success story of good market share of different market organizations depends upon the

availability of the product and services near to the customer, which can be distributed through a

distribution channel. In Insurance sector, distribution channel includes only agents or agency

holders of the company. If a company like RELIANCE LIFE INSURANCE, TATA AIG, and MAX etc

has adequate agents in the market they can capture big market as compared to the other


Agents are the only way for a company of Insurance sector through which policies and benefits

Of the company can be explained to the customer.

The major objectives of this project are.

1) To get an overview of the insurance sector.

2) To find out insurance pattern with their behavior in various aspects that is

Time value of money.

3) To find out the technological innovations and strategies which are needed to be adopted by

the hdfc slic in order to retain their development, with taking into account the changing customer

preference and availability of alternatives.

The principal methodology adopted in the project was conclusive surveys/Observation, which was

conducted with the help of interaction of people.




In 1818 the British established the first insurance company in India in Calcutta, the Oriental Life

Insurance Company. First attempts at regulation of the industry were made with the introduction of

the Indian Life Assurance Companies Act in 1912. A number of amendments to this Act were made

until the Insurance Act was drawn up in 1938. Noteworthy features in the Act were the power given

to the Government to collect statistical information about the insured and the high level of

protection the Act gave to the public through regulation and control. When the Act was changed in

1950, this meant far reaching changes in the industry. The extra requirements included a statutory

requirement of a certain level of equity capital, a ceiling on share holdings in such companies to

prevent dominant control (to protect the public from any adversarial policies from one single party),

stricter control on investments and, generally, much tighter control. In 1956, the market contained

154 Indian and 16 foreign life insurance companies. Business was heavily concentrated in urban

areas and targeted the higher echelons of society. “Unethical practices adopted by some of the

players against the interests of the consumers” then led the Indian government to nationalize the

industry. In September 1956, nationalization was completed, merging all these companies into the

so-called Life Insurance Corporation (LIC). It was felt that “nationalization has lent the industry

fairness, solidity, growth and reach.”

Some of the important milestones in the life insurance business in India are:
 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the

life insurance business.

 1928: The Indian Insurance Companies Act enacted to enable the government to collect

statistical information about both life and non-life insurance businesses.

 1938: Earlier legislation consolidated and amended to by the Insurance Act with the

objective of protecting the interests of the insuring public.

 1956: The market contained 154 Indian and 16 foreign life insurance companies.


The General Insurance industry in India dates back to the Industrial Revolution and the subsequent

increase in trade across the oceans in the 17th century. As for Life Insurance, the British brought

General Insurance to India, and a similar path was followed in the development of this industry. A

number of private companies were in existence for years and years until, in 1971, the Indian

Government decided that the public interest would be served by nationalizing the industry, merging

all the 107 companies into four companies, depending on the sort of business transacted (Marine,

Fire, Miscellaneous). These were the National Insurance Company Ltd., the Oriental Insurance

Company Ltd., the New India Assurance Company Ltd., and the United India Insurance Company

Ltd. located in Calcutta, New Delhi, Bombay and Madras respectively. The General Insurance

Corporation (GIC) was set up in 1972 as a ‘holding’ company, having these four companies as its


HDFC was started by Hasmukh Bhai Parekh in1977 with the formation of Malhotra

Committee.HDFC Standard Life, one of India’s leading private life insurance companies, offers a

range of individual and group insurance solutions. It is a joint venture between Housing

Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and

Standard Life plc, the leading provider of financial services in the United Kingdom.

HDFC Standard Life’s product portfolio comprises solutions, which meet various customer needs

such as Protection, Pension, Savings, Investment and Health. Customers have the added

advantage of customizing the plans, by adding optional benefits called riders, at a nominal price.

The company currently has 32 retail and 4 group products in its portfolio, along with five optional

rider benefits catering to the savings, investment, protection and retirement needs of customers.

HDFC Standard Life continues to have one of the widest reaches among new insurance

companies with 568 branches servicing customer needs in over 700 cities and towns. The

company has a strong presence in its existing markets with a base of 2,00,000 Financial


HDFCSL is one of India’s leading private insurance companies. It offers both individual and group

insurance solution. It is a joint venture between HDFC and a group of company of Standard Life. I

have chosen insurance sector as the place for summer training because in these days this sector

is in boom and it will never go down. All people invest their money in insurance and get more

benefited. In the sector the work of marketing is more challenging then the other sector because

there is 17 insurance companies in the market who are giving competition to each other and the

work of convince people for investment in respective company is a challenging work and success

in the sector proves that the respective person is a good marketer. Today insurance sector India is

on boom because all people want to invest.


The project was an attempt to explore the “customer awareness about the insurance policy of

HDFC SLIC” in Bhilai. The project was started on 10th June, after knowing all the relevant

information about the company insurance product and policies and its competitor’s insurance

products in accordance with the prescribed schedule mentioned by management of HDFC SLIC.

The project started in BHILAI/DURG AND RAIPUR region covering all the local market. In this

process I meet with many persons to. I have tried to convey message from telephone calling, and

natural market. and contact person having gone to their home. In the entire work I have contacted

person who is student, person who is working in the organization.During my work I found the

perception of the people about insurance, what they desire from it, I also collected data by

conducting the seminar And got response from customer side.

This project will help to understand the current market scenario and marketing in stiff competition.

Being a student of management I can draw the relevant conclusion from the market survey and

give the appropriate suggestion to the organization.



HDFC Standard Life Insurance Company Ltd.

HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has since emerged as the

largest residential mortgage finance institution in the country The corporation has had a series of

share issues raising its capital to Rs. 119 crores. The gross premium income for the year ending

March 31, 2007 stood at Rs. 2, 856 crores and new business premium income at Rs. 1,624 crores.

The company has covered over 8, 77,000 lives year ending March 31, 2007.

HDFC operates through almost 450 locations throughout the country with its corporate head

quarters in Mumbai, India. HDFC also has an International Office in Dubai, UAE, with service

associates in Kuwait, Oman and Qatar.

HDFC is the largest housing Company in India for the last 27 years.


 Incorporated in 1977 as the first specialized Mortgage Company in India.

 Almost 90% of initial shareholding in the hands of domestic institutes and retail investors.

Current 77% of shares held by foreign institutional investors.

 Besides the core business of mortgage HDFC has evolved into a

Financial conglomerate with holdings in

 HDFC Standard Life insurance Company- HDFC holds 78.07 %.

 HDFC Asset Management Company – HDFC holds 50.1%


Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive Chairman of

Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a

senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in

1985 and was appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of

HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales).

Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company since November,

2000. Prior to this, he was the Managing Director of HDFC Limited since 1993. Mr. Satwalekar

obtained a Bachelors Degree in Technology from the Indian Institute of Technology, Bombay and a

Masters Degree in Business Administration from The American University, Washington DC.


HDFC Bank: World Class Indian Bank- among the top private banks in India.

HDFC AMC: One of the top 3 AMCs in India- Preferred investment manager.

Intelenet Global: BPO services for international customers.

CIBIL: Credit Information Bureau India Limited.

HDFC Mutual Fund

HDFC Helps to search properties in all major cities in India

HDFC securities.


The Standard Life Assurance Company ("Standard Life") was established in 1825 and the first

Standard Life Assurance Company Act was passed by Parliament in 1832. Standard Life was

reincorporated as a mutual assurance company in 1925. Standard Life is a leading long term

savings and investments company headquartered in Edinburgh and operating internationally.

Standard Life provides life assurance and pensions, investment management to over 6.5 million

customers worldwide. Inspired by life, we provide meaningful solutions, flexibility and support to

build our customers' confidence in their future wealth. The Group has around 10,000 employees

across the UK, Canada, Ireland, Germany, Austria, India, USA, Hong Kong and mainland China.


 The Standard Life group has been looking after the financial needs of customers

For over 180 years

 It currently has a customer base of around 7 million people who rely on the

Company for their insurance, pension, investment, banking and health-care needs

Its investment manager currently administers £125 billion in assets

 It is a leading pensions provider in the UK, and is rated by Standard & Poor’s as

‘strong’ with a rating of A+ and as ‘good’ with a rating of A1 by Moody’s.

 Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006 at the

Money Marketing Awards, and it was voted a 5 star life and pensions.

Provider at the Financial Adviser Service Awards for the last 10 years running.

The '5 Star' accolade has also been awarded to Standard Life Investments for the

last 10 years, and to Standard Life Bank since its inception in 1998. Standard

Life Bank was awarded the 'Best.

Our Vision And Values

Our Vision

'The most successful and admired life insurance company, which means that we are the most
trusted company, the easiest to deal with, offer the best value for money, and set the standards in
the industry'.

'The most obvious choice for all'

Our Values

Values that we observe while we work:

• Integrity
• Innovation
• Customer centric
• People Care “One for all and all for one”
• Team work
• Joy and Simplicity

 Joint Collaboration of HDFC and standard life.

 Collaboration of HDFC with Manipal Education.

HDFC Life insurance has evolved over the period with its start of 10 crores as the most massive

mortgage institution of finance. With thrust for standard life, HDFC is the joint collaboration of

HDFC and Standard Life, which are protagonists in this marketing platform from commendable

years of enriching experience. Moreover to add to its reputation, HDFC Life Insurance was the first

company to attain the license to work in the insurance arena and the rest is history. It has operation

from more than 52 locations. It’s just not about the renowned name of the company but more of its

customer based applications and services that make it bond with the best

HDFC Standard Life, one of India’s leading private life insurance companies, in collaboration with

Manipal Education, India’s premier academic and education services provider, has announced the

launch a three- month Certificate Programme in Insurance and Management.




Individual Products

 Protection Plans

A person can protect his family against the loss of his income or the burden of a loan in the

event of his unfortunate demise, disability or sickness. These plans offer Plan & Loan Cover Term

Assurance Plan.

 Investment Plans

HDFC SLIC’s Single Premium Whole of Life plan is well suited to meet long term

Investment needs. This provides attractive long term returns through regular bonuses.

 Pension Plans

Pension Plans help to secure financial independence even after retirement. Pension range

includes Personal Pension Plan, Unit Linked Pension, and Unit Linked Pension Plus.

 Savings Plans

Savings Plans offer a flexible option to build savings for future needs such as buying

a dream home or fulfilling your children’s immediate and future needs.

Savings range includes Endowment Assurance Plan, Unit Linked Endowment, Unit

Linked Endowment Plus, Unit Linked Endowment Plus II, Money Back,

Unit Linked Enhanced Life Protection II, Children's Plan, Unit Linked Young Star,

Unit Linked Young Star Plus, Unit Linked Young Star Plus II.


HDFC Standard Life has the most comprehensive list of products for progressive

employers who wish to provide the best and most innovative employee benefit

solutions to their employees. It offers different products for different needs of

employers ranging from term insurance plans for pure protection to voluntary plans

such as superannuation and leave encashment.

HDFC SLIC offers the following group products to esteemed corporate clients:

A) Group Term Insurance

B) Group Variable Term Insurance

C) Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage corpuses with

Gratuity, Defined Benefit or Defined Contribution Superannuation or Leave

Encashment schemes of your company

Also suitable for other employee benefit schemes such as salary saving schemes and

wealth management schemes.

Protection Plans

• Safeguard your family’s financial independence

• Security against uncertainties

• Financial cushion in case of an eventuality

Why do we need Protection Plans?

Protection Plans help you shield your family from uncertainties in life due to financial losses in

terms of loss of income that may dawn upon them in case of your untimely demise or critical

illness. Securing the future of one’s family is one of the most important goals of life. Protection

Plans go a long way in ensuring your family’s financial independence in the event of your

unfortunate demise or critical illness. They are all the more important if you are the chief wage

earner in your family. No matter how much you have saved or invested over the years, sudden

eventualities, such as death or critical illness, always tend to affect your family financially apart

from the huge emotional loss.

Types of Protection Plans

Our range of Protection Plans includes

 HDFC Term Assurance Plan

 HDFC Premium Guarantee Plan

 HDFC Loan Cover Term Assurance Plan

 HDFC Home Loan Protection Plan*

HDFC Term Assurance Plan

This plan is designed to help secure your family’s financial needs in case of uncertainties. The plan

does this by providing a lump sum to the family of the life assured in case of death or critical illness

(if option is chosen) of the life assured during the term of the contract. One can choose the lump

sum that would replace the income lost to one’s family in the unfortunate event of one’s death. This

helps your family to maintain their financial independence, even when you are not around.


• High cover at a very nominal cost.

• Flexibility to choose the Sum Assured.

• Additional benefit options can be availed at marginal costs.

• Premium amount remains the same over the term of the policy in case of regular premium

• Option of paying single premium or regular premium.

HDFC Premium Guarantee Plan

HDFC Premium Guarantee Plan is an insurance plan that comes with twin advantage of protection

and return of premiums* on maturity. So, you can enjoy life knowing that your family’s financial

independence is secure even in your absence. And your premiums are yours on your survival at



• High cover at a very nominal cost.

• Flexibility to choose the Sum Assured.

• Return of all your premiums paid on maturity*

• Tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961

3. HDFC Loan Cover Term Assurance Plan

This plan aims to protect your family from your loan liabilities in case of your unfortunate demise

within the policy term. It provides the beneficiary with a lump sum amount, which is a decreasing

percentage of the initial Sum Assured. This means that as the outstanding loan decreases as per

the loan schedule, the cover under the policy also decreases as per the policy schedule.


• Flexibility to choose the Sum Assured.

• Decreasing Sum Assurance as the outstanding loan decreases ensures that you do not pay

for the protection you don’t need.

• Additional Optional Benefit is available at a nominal cost.

• Option of paying single premium or regular premium

4. HDFC Home Loan Protection Plan

This plan aims to protect your family from your loan liabilities in case of your unfortunate demise

within the policy term. It ensures that your family does not lose the dream house that you have

purchased for them, in case you are not around to repay the outstanding monthly installments on

your housing loan. This provides you with the comfort of knowing that in your absence, a sum of

money will be available towards repaying your housing loan, making sure that your family will be

secure in your family home.


• A decreasing Sum Assured payable if you die during the term of the contract. This sum

assured is intended to help pay-off your outstanding home loan

• Policy can be availed by paying a single premium in advance

• The premium amount can be included in the housing loan and repaid as part of the loan

repayment instalments

In the early times, consumer was considered as King of the market but in the contemporary

society, consumers are no longer safe against the mal practices such as, substandard goods and

unsatisfactory services. The consumer has every right to reject any product or services rendered

by any manufacturer in the market and can mould them to produce goods of their choice. Indian

Consumer are ignorant, illiterate and do no know the role of consumption vis-a-vis economic

system as well as quality of life. When they are ignorant of their rights, they cannot know their

responsibility as consumers. Consumers in the market find themselves deceived by wrong weights

and measures, adulterated and substandard products causing great damages to health. Neelkanta

and Anand (1992) found that people prefer to absorb and endure the wrong done to them rather

than fight against injustice. This is because consumers do not know the ways and means of facing

them confidently. At present the consumer movement in India is in its infancy. Vast majority of the

people are not even aware of consumerism as a movement closely connected with the protection

of their interest. Many constitutional provisions have been made by government to protect the

consumers. Until and unless the consumers avail of these provisions, the protection of consumer

becomes inevitable. There is a great need to make them aware of their rights and responsibilities.

The current investigation has been undertaken to seek answers to key aspects such as level of

consumer awareness regarding legislation and organization with the specific objective such as:

 To assess the awareness of respondents towards (i) consumer terminology (ii)

Legal laws.

 To ascertain the awareness of respondents regarding consumer organizations and

Various information sources

We have lots of customized solution that range from Group Team Insurance. Gratuity Leave,

Encashment and super annuation Products .these affordable plans apart from providing long term

value to the employees help in enhancing good will of company.

We at HDFC standard life are committed to maintaining the highest level of customer

Service .Interacting with you via this website is an extension of this commitment.

We have designed the “Customer Service” section keeping in mind all the information you may

want to seek regarding procedures such as paying your premium various policy servicing options.

Processing a claim and so on we have also provided relevant forms that can be downloaded easily

for your use case do the write to us at

In case you need any additional information or clarification and we will revert to you as

Soon as possible.



A Research Design is the framework or plan for a study which is used as a guide in collecting and
analyzing the data collected. It is the blue print that is followed in completing the study. The basic
objective of research cannot be attained without a proper research design. It specifies the methods
and procedures for acquiring the information needed to conduct the research effectively. It is the
overall operational pattern of the project that stipulates what information needs to be collected,
from which sources and by what methods.


 To aware the customer or people about the product of HDFC STANDARD LIFE

 To encourage the people for being certified financial consultant in HDFC STANDARD LIFE

 To aware the people or customer that if he/she becomes financial consultant in HDFC
STANDARD LIFE INSURANCE COMPANY. Then he/she has good chance to fulfill his/her
aims in a positive way with lots of benefits.

 To determine customers awareness towards private insurance companies and their

Expectation form private insurance companies.

 To determine the feedback on services provided by any other insurance agent.

 To study the types of benefits provided by insurance services.


Data source are the data resources or collection of fresh and data to obtain results. these

Data may be obtained from primary sources. Primary source is one that itself collect the data.

PRIMARY DATA In terms of primary data structure questionnaire was prepared and was filled
by the professional, unemployed students, housewives, investment consultant, post office agent
and other in Durg/Bhilai and Raipur location. Analysis clearly reflected the views and preference
regarding the perception of the people towards HDFC standard life.

DATA COLLECTION TOOLS As for as the data collection method for this project is
concerned, designing the data collection forms or survey forms is applicable to the project. The
method selected is survey method. A survey can be conducted by doing personal Interaction with
the people.

A survey can be conducted by:-

 Personal interaction.
 Telephonic interview.

As the data collection method for this project is concerned, designing the data collection forms or
survey forms is applicable to the project. The method selected is survey method. A survey can be
conducted by doing personal interaction with the people

Amongst the above method personal interview method was conducted to gather information in
detail. This method was chosen because along with the study of projects primary objective i.e.
study of perception and willingness of people in insurance sector. In terms of primary data structure
questionnaire was prepared.


 Sampling techniques:- A pilot study was done in order to know the accuracy of the
Questionnaire. The final Questionnaire was arrived only after certain important changes
were done. Thus my sampling came out to be judgemental and convenient.

 Sampling Unit:- The respondents who were asked to fill out questionnaires are the
sampling units. These comprise of Govt. Employees, Self Employed people, investment
consultant etc.

 Sample size:-The sample size for the survey conducted was 50 respondent, which
comprised of mainly peoples from Durg, Bhilai and Raipur region.


The methodology adopted in the field to collect the data represented diagrammatically
 Segmentation with people.
 Meeting with people
 Filling up questionnaire.


QUE.1 Do you save Regularly?


QUE.2 Do you have any insurance on your life?

a. Yes
b. no

Q.3 Are you aware that life insurance can protect your family against the burden of repayment of
any outstanding loans?



Q.4 Are you aware that life insurance can help you to protect for your child’s higher



Q.5 Are you aware that life insurance can help you to create wealth for yourself and
your family?



Q.6 Are you aware that life insurance can help you to plan for your peaceful retired



Q.7 what are the view points on life insurance?




Declaration by the Student

Certificate from the Supervisor / Company

1. Chapter 1: Company Profile / Industry Profile

2. Chapter 2: Details about the company such as history, products, markets,

operations etc.

3. Chapter 3: Relation of the work done by the student with theory

4. Chapter 4: Main issue/area worked upon by the student

5. Chapter 5: Significant learning that the student underwent during the training

a. Questionnaire used (if any)

b. Any other appendix

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 D. Kundur, “Mulitresolution Digital Watermarking: Algorithms and Implications
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Citation from Books:

 D. Thompson, ed., The Concise Oxford Dictionary of Current English. Oxford, UK:
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Citation from Website:

 Anonymous, unZign, “Tool for Evaluating a Variety of Watermarks”,, (23rd September 1997)
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