BIRLA SUNLIFE AND OTHER COMPANY

INTRODUCTION

Life insurance

Life insurance or life assurance is a contract between the policy owner and the insurer, where the

insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the

insured individual's or individuals' death or other event, such as terminal illness or critical illness.

In return, the policy owner agrees to pay a stipulated amount at regular intervals or in lump

sums. There may be designs in some countries where bills and death expenses plus catering for

after funeral expenses should be included in Policy Premium. In the United States, the

predominant form simply specifies a lump sum to be paid on the insured's demise.

Life insurance (Life Assurance in British English) is a type of insurance. As in all insurance, the

insured transfers a risk to the insurer. The insured pays a premium and receives a policy in

exchange. The risk assumed by the insurer is the risk of death of the insured.

How life insurance works

There are three parties in a life insurance transaction; the insurer, the insured, and the owner of

the policy (policyholder), although the owner and the insured are often the same person. For

example, if John Smith buys a policy on his own life, he is both the owner and the insured. But if

Mary Smith, his wife, buys a policy on John's life, she is the owner and he is the insured. The

owner of the policy is called the grantee (he or she will be the person who will pay for the

policy). Another important person involved is the beneficiary. The beneficiary is the person or

persons who will receive the policy proceeds upon the death of the insured. The beneficiary is

not a party to the policy, but is designated by the owner, who may change the beneficiary unless
the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that

beneficiary must agree to changes in beneficiary, policy assignment, or borrowing of cash value.

The policy, like all insurance policies, is a legal contract specifying the terms and conditions of

the risk assumed. Special provisions apply, including a suicide clause wherein the policy

becomes null if the insured commits suicide within a specified time for the policy date (usually

two years). Any misrepresentation by the owner or insured on the application is also grounds for

nullification. Most contracts have a contestability period, also usually a two-year period; if the

insured dies within this period, the insurer has a legal right to contest the claim and request

additional information before deciding to pay or deny the claim.

The face amount of the policy is normally the amount paid when the policy matures, although

policies can provide for greater or lesser amounts. The policy matures when the insured dies or

reaches a specified age. The most common reason to buy a life insurance policy is to protect the

financial interests of the owner of the policy in the event of the insured's demise. The insurance

proceeds would pay for funeral and other death costs or be invested to provide income replacing

the deceased's wages. Other reasons include estate planning and retirement. The owner (if not the

insured) must have an insurable interest in the insured, i.e. a legitimate reason for insuring

another person’s life. The insurer (the life insurance company) calculates the policy prices with

an intent to recover claims to be paid and administrative costs, and to make a profit. The cost of

insurance is determined using mortality tables calculated by actuaries. Actuaries are

professionals who use actuarial science which is based in mathematics (primarily probability and

statistics). Mortality tables are statistically based tables showing average life expectancies. The

three main variables in a mortality table are age, gender, and use of tobacco. The mortality tables

provide a baseline for the cost of insurance. In practice, these mortality tables are used in
conjunction with the health and family history of the individual applying for a policy in order to

determine premiums and insurability. The current mortality table being used by life insurance

companies in the United States and their regulators was calculated during the 1980s. There is

currently a measure being pushed to update the mortality tables by  2008.

The current mortality table assumes that roughly 2 in 1,000 people aged 25 will die during the

term of coverage. This number raises roughly quadratic ally to about 25 in 1,000 people for those

aged 65. So in a group of one thousand 25 year old males with a $100,000 policy, a life

insurance company would have to, at the minimum, collect $200 a year from each of the

thousand people to cover the expected claims. The insurance company receives the premiums

from the policy owner and invests them to create a pool of money from which to pay claims, and

finance the insurance company's operations. Contrary to popular belief, the majority of the

money that insurance companies make comes directly from premiums paid, as money gained

through investment of premiums will never, in even the most ideal market conditions, vest

enough money per year to pay out claims. Rates charged for life insurance increase with the

insured's age because, statistically, a people are more likely to die as they get older.

Since adverse selection can have a negative impact on the financial results of the insurer, the

insurer investigates each proposed insured (unless the policy is below a company-established

minimum amount) beginning with the application, which becomes part of the policy. Group

Insurance policies are an exception. This investigation and resulting evaluation of the risk is

called underwriting. Health and lifestyle questions are asked, and the answers are dutifully

recorded. Certain responses by the insured will be given further investigation. Life insurance

companies in the United States support The Medical Information Bureau, which is a

clearinghouse of medical information on all persons who have ever applied for life insurance. As
part of the application, the insurer receives permission to obtain information from the proposed

insured's physicians. Life insurance companies are never required by law to underwrite or to

provide coverage on anyone. They alone determine insurability, and some people, for their own

health or lifestyle reasons, are uninsurable. The policy can be declined (turned down) or rated.

Rating means increasing the premiums to provide for additional risks relative to that particular

insured.

Many companies use four general health categories for those evaluated for a life insurance

policy. These categories are Preferred Best, Preferred, Standard, and Tobacco. Preferred Best

means that the proposed insured has no adverse medical history, is not under medication for any

condition, and his family (immediate and extended) have no history of early cancer, diabetes, or

other conditions. Preferred is like Preferred Best, but it allows that the proposed insured is

currently under medication for the condition and may have some family history. Most people are

in the Standard category. Profession, travel, and lifestyle also factor into not only which category

the proposed insured falls, but also whether the proposed insured will be denied a policy. For

example, a person who would otherwise be in the Preferred Best category will be denied a policy

if he or she travels to a high risk country.

Upon the death of the insured, the insurer will require acceptable proof of death before paying

the claim. The normal minimum proof is a death certificate and the insurer's claim form

completed, signed, and often notarized. If the insured's death was suspicious and the policy

amount warrants it, the insurer may investigate the circumstances surrounding the death, before

deciding whether there is a legal obligation to pay the claim. Proceeds from the policy may be

paid in a lump sum or as an annuity paid over time in regular recurring payments for either for

the life of a specified person or a specified time period.

 What is Insurance?

Insurance is a contract for reducing losses from accident incurred by an individual party through

a distribution of the risk of such losses among a number of parties. It is a system under which the

insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or

to render services to the insured in the event that certain accidental occurrences result in losses

during a given period. It thus is a method of coping with risk. Its primary function is to

substitute certainty for uncertainty as regards the economic cost of 1oss-producing events

is concerned. Thus, In return for a specified consideration, the insurer undertakes to pay the

insured or his beneficiary some specified amount in the event that the insured suffers loss

through the occurrence of a contingent event covered by the insurance contract or policy. By

pooling both the Financial contributions and the "insurable risks" of a large number of

policyholders, the insurer is typically able to absorb losses incurred over any given period much

more easily than would the uninsured individual. Insurance relies heavily on the "1aw of 1arge

numbers." In large homogeneous populations it is possible to estimate the normal frequency of

common events such as deaths and accidents. Losses can be predicted with reasonable accuracy,

and this accuracy increases as the size of the group expands. From a theoretical standpoint, it is

possible to eliminate all pure risk if an infinitely large group is selected. The risks must be such

that pooling is both feasible and advantageous to the two parties.

From the standpoint of the insurer, an insurable risk must meet the following requirements:

1.                  The objects to be insured must be numerous enough and homogeneous enough to allow a

reasonably close calculation of the  probable Frequency and severity of looses

2.                  The insured objects must not be subject to simultaneous destruction. For example, if all the

buildings insured by one insurer are in an area subject to flood, and a flood occurs, the loss to the
 insurance underwriter may be catastrophic

3.                  The possible loss must be accidental in nature, and beyond the control of insured. If the insured

could cause the loss, the element of randomness and predictability would be destroyed.

4.                  There must be some way to determine whether a loss has occurred and how great that loss is.

This is why insurance contracts specify very definitely what events must take place, what

constitutes loss, and how it is to be measured.

From the viewpoint of the insured person, an insurable risk is one for which the probability of

loss is not so high as to require excessive premiums. What is "excessive" depends on individual

circumstances,  including the insured's attitude toward risk. At the same time, the potential loss

must be severe enough to cause financial hardship if it is not insured against.

Insurable risks include: -

Losses to property resulting from fire, explosion, windstorm, etc;

Losses of life or health; and the legal liability arising out of use of automobiles, Occupancy of

buildings, employment, or manufacture.

Uninsurable risks include:

Losses resulting from price changes and competitive conditions in the market.

                   Political risks such as war or currency debasement are usually not insurable by

private parties but may be insurable by governmental institutions.

Very often contracts can be drawn in such a way that an "uninsurable risk" can be turned into an

"insurable" one through restrictions on losses, redefinitions of perils, or other methods.

                                                                     
INSURANCE IN INDIA
The insurance sector in India has come a full circle from being an open competitive Market to

nationalization and back to a liberalized market again. Tracing the Developments in the Indian

insurance sector reveals the 360 degree turn witnessed over a Period of almost two centuries.

A brief history of the Insurance sector

The business of life insurance in India in its existing form started in India in the year 1818 with

the establishment of the Oriental Life Insurance Company in Calcutta. Some of 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: 245 Indian and foreign insurers and provident societies taken over by the central

government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,

1956, with a capital contribution of Rs. 5 core from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton

Insurance Company Ltd., the first general insurance company established in the year 1850 in

Calcutta by the British. Some of the important milestones in the general insurance business in

India are:                                                         

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of

general insurance business.

 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of

conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins

and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general

insurance business in India with effect from 1st January 1973.107 insurers amalgamated and

grouped into four companies viz. the National Insurance Company Ltd., the New India

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

Company Ltd. GIC incorporated as a company.

                                                           

Insurance sector reforms

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N.

Malhotra, was formed to evaluate the Indian insurance industry and recommend its future

direction. The Malhotra committee was set up with the objective of complementing the reform

initiated in the financial sector.

The reforms were aimed at “creating a more efficient and competitive financial system suitable

for the requirements of the economy keeping in mind the structural changes currently underway

and recognizing that insurance is an important part of the overall financial system where it was

necessary to address the need for similar reforms…”In 1994, the committee submitted the report

and some of the key recommendations included:                                                       

 Structure

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

         Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries

can act as independent corporations

         All the insurance companies should be given greater freedom to operate

Competition

         Private Companies with a minimum paid up capital of Rs.1bn should be allowed

         To enter the industry No Company should deal in both Life and General Insurance through a

single Entity

         Foreign companies may be allowed to enter the industry in collaboration with the domestic

companies

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

         Only one State Level Life Insurance Company should be allowed to operate in Each state

Regulatory Body

 The Insurance Act should be changed

 An Insurance Regulatory body should be set up.                                                  

 Controller of Insurance (Currently a part from the Finance Ministry) should be Made

independent

Investments

 Mandatory Investments of LIC Life Fund in government securities to be reduced From

75% to 50%

 GIC and its subsidiaries are not to hold more than 5% in any company (There Current

holdings to be brought down to this level over a period of time)

  Customer Service

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

         Insurance companies must be encouraged to set up unit linked pension

plans                                                 

         Computerization of operations and updating of technology to be carried out in the insurance

industry The committee emphasized that in order to improve the customer services and increase

the coverage of the insurance industry should be opened up to competition. But at the same time,

the committee felt the need to exercise caution as any failure on the part of new players could

ruin the public confidence in the industry.

 Hence, it was decided to allow competition in a limited way by stipulating the minimum capital

requirement of Rs.100 cores. The committee felt the need to provide greater autonomy to

insurance companies in order to improve their performance and enable them to act as

independent companies with economic motives. For this purpose, it had proposed setting up an

independent regulatory body.

The Insurance Regulatory and Development Authority

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in

December 1999. The IRDA since its incorporation as a statutory body in April 2000 has

fastidiously stuck to its schedule of framing regulations and registering the private sector

insurance companies.

                                                           

The other decisions taken simultaneously to provide the supporting systems to the Insurance

sector and in particular the life insurance companies were the launch of the IRDA’s online

service for issue and renewal of licenses to agents.

 The approval of institutions for imparting training to agents has also ensured that the insurance

companies would have a trained workforce of insurance agents in place to sell their products,

which are expected to be introduced by early next year.

Since being set up as an independent statutory body the IRDA has put in a framework of globally

compatible Regulations. In the private sector 12 life insurance and 6 general insurance

companies have been registered.

Public Life Insurance Company is:

 LIC

There are 12 private life insurance companies and 1 public life insurance company. These are:

  Allianz Bajaj
  ICICI- Prudential
  Max- New York Life
  HDFC- Standard Life Insurance
  ING- Vysya
  TATA- AIG Life
  Birla- Sun life
  Om Kotak Life
  Aviva
  Met Life
  AMP Sammar
  SBI Life

The Insurance Regulatory and Development Authority Act, 1999

 To permit the private companies to enter the insurance market, the Government enacted the

Insurance Regulatory and Development Authority Act 1999, which was passed by the parliament

in December 1999. It received Presidential assent in January 2000.

The authority is a ten member team consisting of

a) A Chairman;

b) Five whole-time members;

c) Four part-time members.

FINANCIAL RELATIONS

  It is mandatory for each and every company to have paid up capital of Rs 100 crore prior to grant

of license.                                                        

  85% of premium collected by any insurer has to be invested in the government approved i.e.

Central government, state government and other approved infrastructure bonds and

securities                 

  Although all private insurance companies can have a foreign partner to the extent of 26% in their

equity, not a single rupee can be invested out of India i.e. in foreign investment. Now the foreign

partner can have joint venture ship with 45%of equity.

  An amount equal to 95% of profits generated every year has to be compulsorily distributed among

policyholders as bonus.

  A check n management expenses has been sought with a restriction that it cannot be more than

15% of the total earnings of the insurance company in a year.

SCOPE & IMPORTANCE OF STUDY

  To determine and analyzed the Market Potential   of   the   Birla Sun Life Insurance Company in

Moradabad City.  

  To study the overall scenario currently prevailing in the market, namely,  the per capital income,

purchasing power, occupation, literacy rate, etc.

  To study and determine the competitor position in the market.

  To give benefit to the people as well as to earn profit.

To do a performance evaluation of Birla Sun Life Insurance products in comparison on with

other insurance companies

LITERATURE REVIEW

Insurance is a must because of the uncertain future adversities of life. Accidents, illnesses,

disability etc are facts of life that can be extremely devastating. Other than the hospitalization,
medication bills these may run up it’s the aftermath of the incident, the physical well being of the

individual that has to be taken into consideration. Will the individual be in a position to earn as

before? A pertinent question, But what if he is not? Disability can be taken care of by insurance.

Your family will not have to go through the grind due to your present inability.

            You think twice before taking the plunge into buying insurance. Is buying insurance a

necessity now? Spending an 'extra' amount as premium at regular intervals where you do not see

immediate benefits does not seem a necessity at the moment. May be later well you could be

wrong. Buying Insurance cannot be compared with any other form of investment. Insurance

gives you a life long benefit and the returns will definitely come but only when you need it the

most i.e. at the right time. Besides buying insurance early in life is one of the wise decisions you

could take. Because the premium you would be paying would be comparatively lower.

INSURANCE HISTORY

INSURANCE IN INDIA

The insurance sector in India has come a full circle from being an open competitive market to

nationalization and back to a liberalized market again. Tracing the developments in the Indian

insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries.

A brief history of the Insurance sector

The business of life insurance in India in its existing form started in India in the year 1818 with

the establishment of the Oriental Life Insurance Company in Calcutta.

Some of 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: 245 Indian and foreign insurers and provident societies taken over by the central

government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,

1956, with a capital contribution of Rs. 5 core from the Government of India. The General

insurance business in India, on the other hand, can trace its roots to the Triton Insurance

Company Ltd., the first general insurance company established in the year 1850 in Calcutta by

the British.

Some of the important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of

general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of

conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins

and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general

insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and

grouped into four company’s viz. the National Insurance Company Ltd., the New India

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

Company Ltd. GIC incorporated as a company.

Insurance sector reforms

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N.

Malhotra, was formed to evaluate the Indian insurance industry and recommend its future

direction. The Malhotra committee was set up with the objective of complementing the reforms

initiated in the financial sector. The reforms were aimed at “creating a more efficient and

competitive financial system suitable for the requirements of the economy keeping in mind the

structural changes currently underway and recognizing that insurance is an important part of the

overall financial system where it was necessary to address the need for similar reforms…”

In 1994, the committee submitted the report and some of the key recommendations included:

i) Structure

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

· Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries

can act as independent corporations.

· All the insurance companies should be given greater freedom to operate

ii) Competition

· Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the

industry

· No Company should deal in both Life and General Insurance through a single entity

· Foreign companies may be allowed to enter the industry in collaboration with the domestic

companies

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

· Only one State Level Life Insurance Company should be allowed to operate in each state

iii) Regulatory Body

· The Insurance Act should be changed

· An Insurance Regulatory body should be set up

· Controller of Insurance (Currently a part from the Finance Ministry) should be made

independent

iv) Investments

· Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to

50%

· GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings

to be brought down to this level over a period of time)

v) Customer Service

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

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

· Computerization of operations and updating of technology to be carried out in the insurance

industry. The committee emphasized that in order to improve the customer services and increase

the coverage of the insurance industry should be opened up to competition. But at the same time,

the committee felt  the need to exercise caution as any failure on the part of new players could

ruin the public confidence in the industry. Hence, it was decided to allow competition in a

limited way by stipulating the minimum capital requirement of Rs.100 cores. The committee felt

the need to provide greater autonomy to insurance companies in order to improve their

performance and enable them to act as independent companies with economic motives. For this

purpose, it had proposed setting up an independent regulatory body.

The Insurance Regulatory and Development Authority

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in

December 1999. The IRDA since its incorporation as a statutory body in April 2000 has
fastidiously stuck to its schedule of framing regulations and registering the private sector

insurance companies.

The other decisions taken simultaneously to provide the supporting systems to the insurance

sector and in particular the life insurance companies were the launch of the IRDA’s online

service for issue and renewal of licenses to agents. The approval of institutions for imparting

training to agents has also ensured that the insurance companies would have a trained workforce

of insurance agents in place to sell their products, which are expected to be introduced by early

next year. Since being set up as an independent statutory body the IRDA has put in a framework

of globally compatible regulations. In the private sector 12 life insurance and 6 general insurance

companies have been registered.

.Life Insurers:

 Life Insurance Corporation of India (LIC)  Popular Products: Endowment Assurance

(Participating) and Money Back (Participating). More than 80% of the life insurance

business is from these products.

General Insurers:

 General Insurance Corporation of India (GIC) Fire and Miscellaneous insurance

businesses are predominant. Motor Vehicle insurance is compulsory.

GIC had four subsidiary companies, namely with effect from Dec'2000, these subsidiaries have

been de-linked from the parent company and made as independent insurance companies.

 The Oriental Insurance Company Limited

 The New India Assurance Company Limited,

  National Insurance Company Limited

 United India Insurance Company Limited

            In year 2000-2001 some companies is entered in insurance sector. There are sixteen

company is entered. Ten companies are entered in Life insurance and other six companies are

entered in General Insurance. These companies are...

Life Insurers -:

 HDFC Standard Life Insurance Company Ltd.

 Max New York Life Insurance Co. Ltd.

 ICICI Prudential Life Insurance Company Ltd.

 Kotak Mahindra Old Mutual Life Insurance Limited

 Birla Sun Life Insurance Company Ltd.

 Tata AIG Life Insurance Company Ltd.

 SBI Life Insurance Company Limited

 ING Vysya Life Insurance Company Private Limited

 Bajaj Allianz Life Insurance Company Limited

 Metlife India Insurance Company Pvt. Ltd.

General Insurers -:

 Royal Sundaram Alliance Insurance Company Limited.

 IFFCO Tokio General Insurance Company. Ltd.

 TATA AIG General Insurance Company Ltd.

 Bajaj Allianz General Insurance Company Limited.

  ICICI Lombard General Insurance Company Limited.

 Reliance General Insurance Company Limited.

Need For Life Insurance -:

            The need for life insurance comes from the need to safeguard our family. If you care for

your family’s needs you will definitely consider insurance.

            Today insurance has become even more important due to the disintegration of the

prevalent joint family system, a system in which a number of generations co-existed in harmony,

a system in which a sense of financial security was always there as there were more earning

members.

            Times have changed and the nuclear family has emerged. Apart from other pitfalls of a

nuclear family, a high sense of insecurity is observed in it today besides, the family has shrunk.

Needs are increasing with time and fulfillment of these needs is a big question mark.

            Insurance provides a sense of security to the income earner as also to the family. Buying

insurance frees the individual from unnecessary financial burden that can otherwise make him

spend sleepless nights. The individual has a sense of consolation that he has something to fall

back on.

Why life insurance?

You think twice before taking the plunge into buying insurance. Is buying insurance a necessity

now? Spending an 'extra' amount as premium at regular intervals where you do not see

immediate benefits does not seem a necessity at the moment. 

            Well you could be wrong. Buying Insurance cannot be compared with any other form of

investment. Insurance gives you a life long benefit and the returns will definitely come but only
when you need it the most i.e. at the right time. Besides buying insurance early in life is one of

the wise decisions you could take. Because the premium you would be paying would be

comparatively lower.

            Most important of all it provides you with that unique sense of security that no other form

of investment provides. It gives you a sense of financial support especially during that time of

crisis irrespective of the fluctuations in the stock market. Insurance provides for your career

goals right from your childhood years.

            If the earning member of the family is no more your child's educational needs will not

suffer. In fact his higher education too will be provided for. You need not spend sleepless nights

thinking about how to save for your child's marriage. Life Insurance will take care of that typical

once-in-a-life-time spending on marriages.

            An accident or a disability may be devastating but an insurance policy can be of utmost

support for the family during such times too. Besides it provides for additional benefits such as

bonuses. You need not worry about your retirement years. The rising prices, taxes, and your

lifestyle will be taken care of easily. And you can relax and spend your old age in comfort and

peace.

When is the right time to buy life insurance?

Buying Life Insurance cannot ever be compared with other investment decisions since it is very

much in contrast with those stock market investments where you wait for the right time to buy

and sell. Neither is this like receiving tips on particular scrip doing well in the market and

holding great future prospects.

             This is because the future is always uncertain. Just as buying insurance is a necessity so

also buying insurance early in life is important too. With proper financial planning one can work

out as to how much money an individual is entitled to after the end of a particular term. A policy

that will fulfill your child's future educational needs would have to be timed appropriately so that

he receives the policy amount at that time when he needs it the most.

            By taking a policy early in life you not only benefit in forking out a lower premium

amount but also make a wise decision as far as insuring risks to yourself and your family is

concerned

What is benefited for customer whether to invest in mutual funds or having insurance

policies?

             I had also met the customers who are invested in Mutual Funds and also who are

invested in Insurance sector to make the comparison.

The proceeds accruing from Life Insurance policy can be utilized for -:

a.       Final Expenses resulting from death

b.      Guaranteed maintenance of lifestyle

c.       Replacement of income

d.      Mortgage or liquidation payment

e.       Costs of education

f.       Estate and other taxes

g.      Continuity & security of interests

h.      Final expenses resulting from death

After an individual's untimely death, his survivors and heirs are entrusted with the responsibility

of conducting his last rites according to customs and traditions as propagated by religion. Almost

all religious sects follow certain rules that need to bidden regardless of the social circumstances.

Guaranteed maintenance of lifestyle -:

            As long as there is a steady and assured supply of income, an individual's family and

dependants are able to keep a self-professed standard of living. The family's eating and drinking

habits, entertainment and lifestyle expenses are maintained at a certain level during their earning

member's lifespan.

            In case of the unexpected death of the earning member, his or her family will be hard-

pressed in trying to arrange for funds that would assist them in maintaining the standard of living

that they've grown accustomed to. After all, no one really likes to make sacrifices, despite their

miniscule fiscal value.

Costs of Education -:

            Most families start planning for their child's future education costs as soon as he clears

his kindergarten papers. After all, every parent wants his or her child to grow and become a

professionally qualified engineer or physician or likewise. And this is a fairly mean task since

year after year since capitation fees charged by even run-of-the-mill colleges come up to lakes of

rupees.

            In case either of the child's guardians or parents happens to expire before the end of his

education, there are chances that he will not be able to complete his education. Nothing aids an

individual in his life as much as what he or she knows. In any case, every parent wants to plan

for his children's future and security.

And to achieve success in this plan, it is vital that the guardian or parents uses insurance as a tool

to plan for his children's future, regardless of his or her presence. In case of the demise of a

parent, the proceeds from his or her insurance can be channeled into their dependant children's

education fund.

Estate and other Taxes -:

            Normally after a family member's death, his family or dependants are usually flooded

with notices from creditors or taxation officers. At a time like this when the family is struggling

to recover from such a severe shock, it might seem inhuman for them to be subjected to such

humiliation.

            However in today's materialistic world, chivalry is no longer in demand. In case of an

emergency, women and children rarely come first but

Creditors always do. Not only is it prudent for any individual to clear his debts prior to his

demise but it would also spare his or her family the shame of having to clear debts that they did

not incur, at least directly.

            Since no one knows when his or her time may come, there is always a chance that the

dependants will have to pay the existing dues regardless of their economic status. Thanks to

insurance, all existing debts and taxes can be cleared from the proceeds in no time at all. And the

dependent family will be spared from the ignominy of having to pay what they did not owe, in

the first place

Continuity & Security of Interests -:

            At times after an individual's death, his family might have to sacrifice their interests in

business or investments to arrange for their expenses and maintain a decent standard of living. In
extreme cases, the dependent spouse might also have to suffer and sacrifice everything the

family owns in a desperate bid to maintain the family name and crest above everything else.

            After all, India is still a country where honor is regarded higher than life itself. Surely,

making prudent investments in insurance from time to time can aid in averting such a disgraceful

situation for any self-respecting individual's family. Only then will the family be able to maintain

its standard of living prior to the demise of the head of the family.

            Obviously, the proceeds from insurance will help secure the family's status and position

in society as well as maintain their socio-economic level in life. Thus insurance serves the

perfect hedging tool for securing the interests of the family and maintaining the continuity of

their interests.

COMPANY PROFILE

BIRLA SUN LIFE =  ADITYA BIRLA GROUP (INDIA) + SUN LIFE FINANCIAL’S (CANADA)
INTRODUCTION OF ADITYA BIRLA GROUP-

The Aditya Birla Group is India’s first truly

multinational corporation, Global in vision,

rooted in values, the group is driven by

performance ethic pegged on value creation for

its multiple stakeholders. A US$ 24 billion

conglomerate, with a market capitalization of

US$ 24 billion and in the league of Fortune 500,

it is anchored by an extraordinary belonging to

over 25 different nationalities. Over 50 percent

of its revenues flow from its operations across

the world.
The Aditya Birla group is US$ 30 billion

conglomerate which gets 60% of its revenues

from outside India. The group is a major player

in all the industry sectors it operates in. The

Aditya Birla Group has been adjudged the best

employer in India and among the top 20 in Asia

by the Hewitt-Economic Times and Wall Street

Journal Study 2007. The origins of the group lie

in the conglomerate once held by one of India's

foremost industrialists Mr. Ghanshyam Das

Birla.
 The Group’s products and services offer distinctive solutions worldwide .Its 85 state-of-the-art

manufacturing units and sect oral services span 20 countries – India, Thailand, Laos, Indonesia,

Philippines, Egypt, Canada, Australia, China, USA, UK, Germany, Hungary, brajil, Italy,

France, Luxembourg, Switzerland, Malaysia and Korea.

     The group has been adjudged the best employer in India and among the top 20 in Asia by the

Hewitt-Economic Times and Wall street journal Study 2007.

In India the group holds a frontrunner position as

  India’s leading copper producer

  A premier branded garments player

  The second largest player in viscose filament yarm.

  The second largest player in the chlor alkali sector.

  Among the top five mobile technology players

  A leading player in Life insurance and asset management.

Sun life financial

Sun Life Financial is a leading international financial services organization providing a diverse

range of protection and wealth accumulation products and services to individuals and corporate

customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key

markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong

Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2007, the

Sun Life Financial group of companies had total assets under management of CDN$446 billion

 BIRLA SUN LIFE PROMOTED COMPANIES

1. BIRLA SUN LIFE ASSET MANGEMENT COMPANY LTD

   A collaboration of the US $ 8.3 Billion Aditya Birla group and the CDN $ 400 billion Sun life

financial of Canada brings together global and Indian expertise to the area of financial services. 

          Birla Sun Life Asset Management Company Ltd., the investment managers of Birla

Mutual fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial

Services Inc. of India. The joint venture brings together the Aditya Birla Group’s experience in

the Indian market and Sun Life’s global experience.

Since its inception in 1994, Birla Mutual fund has emerged as one of India’s Leading Mutual

Funds managing assets of a large investor’s base. The fund offers a range of investment options,

which include diversified and sector specific equity schemes, fund of fund schemes, hybrid and

monthly income funds, a wide range of debt and treasury products and offshore funds.

2. BIRLA SUN LIFE INSURANCE

Birla Sun Life Insurance Co. Ltd. is a joint venture between Aditya Birla Group, an Indian

multinational corporation, and Sun Life Financial Inc, a leading global insurance company. Birla

Sun Life Insurance is distinguished as the first company in the sector of financial solutions to

begin Business Continuity Plan. This insurance company has pioneered the unique Unit Linked

Life Insurance Solutions in India. Within 4 years of its launch, BSLI became one of the leading

players in the industry of Private Life Insurance Scheme.

Birla Sun Life Insurance believes in passion, integrity, speed, commitment and seamlessness.

The mission of the company is to help people with risk management. It also helps in managing

the financial situation of firms as well as individuals. Here is given a comprehensive list of

policies and products offered by Birla Sun Life Insurance Co. Ltd.

  Birla Sun Life Insurance pioneered the unique Unit Linked Insurance Solutions in India.
  Within 4 years of its launch, BSLI has cemented its position as a leading player in the private life

insurance industry.

  There has been focus on Investment Linked Insurance Products to maintain leadership in product

innovation.

  Multi distribution Channels- Direct Sales force, Alternative Channels and Group offering

convenient channels of purchase to customers

  Web enabled IT system for superior customer services.

  First to have issued policies over the internet.

  Corporate governance and a high degree of transparency in all business practices and procedures.

Vision-

To be a world class provider of financial security to individuals and corporate and to be amongst

the top three private sectors life insurance companies in India.

Mission-

To be the first preference of our customers by providing innovative, need based life insurance

and retirement solutions to individuals as well as corporate. These solutions will be made

available well trained professionals through a multi channel distribution network and superior

technology.

      It will provide constant value addition to customers throughout their relationship with us,

within the regulatory framework.

Values-

  Integrity

  Commitment

  Passion
  Seamlessness

  Speed

PRODUCT PROFILE

Individual Life

   Protection

  Birla Sun Life Term Plan

  Premium Back Term Plan

   Saving
  Birla Sun Life Insurance Gold-Plus
  Supreme Life
  Dream Plan
  Classic Life Premier
  Simply Life
  Prime Life Premier
  Prime Life
  Life Companion
  Flexi Cash Flow
  Flexi Save Plus
  Flexi Life Line
  Single Premium Bond

   Retirement
   Flexi Secure Life Retirement Plan II

   Children

  Children's Dream Plan

   Riders
  Accidental Death and Dismemberment Rider
  Term Rider
  Critical Illness Rider
  Waiver of Premium
  Critical Illness Plus Rider
  Critical Illness - Woman Rider

Retirement
Our Retirement Plans allow you to meet your expenses and build a nest egg, which

gives you the freedom to live life to the fullest even after retirement.
The post retirement years can be the best years of your life. Time to do things you couldn't have

done while you were working. A right financial planning makes your post retirement years truly

golden . Our Sun Life secure Life II assures you just that.
 PRODUCTS

Insurance Plans

            Life is unpredictable. But in face of adversity, our responsibilities towards our parents,

children and loved ones need not be compromised. Insurance planning equips you to smooth out

the uncertainties and adversities that life might send your way, so that the best that life has to

offer, secure in the knowledge that your beloved ones are well provided for.

BSLI offers a complete range of insurance products

1. Protection Plans

2. Savings Plans

3. Child Plans

4. Investment Plans

5. Retirement Plans

6. Group Plans

7. Rural Plans

8. Plans for NRIs

9. Keyman Plans

10. Riders

Protection Plans
Life Guard

bsli offers Lifeguard - a set of pure protection plans. Choose from amongst three different

product structures to insure your life and provide total security to your family, at a very

affordable cost.

Level Term Assurance with return of premium

On death the entire sum assured will be paid.

On maturity, all the premiums paid will be returned.

Level Term Assurance without return of premium

On death the entire sum assured will be paid.

No survival or maturity benefits.

You can also enhance the above two policies by adding Accident & Disability Benefit

Rider and Waiver of Premium Rider (WOP) .

Level Term Assurance - Single premium:

On death the entire sum assured will be paid.

  No survival or maturity benefits

saving Plans

bsli offers a variety of policies that give you the benefits of protection and the

opportunity to save for important assets or events, like a home, a car or a

wedding.
Invest Shield Cash

A regular premium unit-linked insurance plan with an assurance of Capital

Guarantee# with the added advantage of flexible liquidity option. An ideal plan

for long term planning with the benefit of liquidity.

The key features of the plan are:

Flexibility to choose a specific level of protection (Sum Assured), based on a multiple of the

annual premium. You can also choose the term of the plan.

At the end of the term, the higher of the value of units or the guaranteed value* is paid. On death,

Sum Assured along with the higher of value of units or the guaranteed value is payable.

Facility to make withdrawals from the 6th policy year    onwards till the end of the policy term.

Every year withdraw up to 10% of the value of units.

Additional credits payable as a percentage of the initial annual premium are paid along with the

death or maturity benefit.

Additional insurance for 10 years after the maturity, for an amount of 50% of the Sum Assured.

Flexibility to make additional investment with the help of the top-up facility.

Flexibility to increase / decrease your annual premium amount

Facility of Automatic Premium Payment- With this facility you can take a temporary break from

premium payment.

Total transparency with the premium allocations, and other charges declared upfront.  

The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all

charges) along with the declared bonus interests.

With Automatic Premium Payment facility, you can avail a temporary break from premium

payment for a maximum of 1 year. This facility is available once if the premium paying term is

less than 15 years and twice, if it is 15 years or more.

You can also enhance your policy by adding Accident & Disability Benefit Rider ,

Waiver of Premium Rider and Critical Illness Rider .

Invest Shield Life

A regular premium unit-linked insurance plan with an assurance of Capital Guarantee# An ideal

plan for your long-term savings and protection requirement.

The key features of the plan are:

Flexibility to choose a specific level of protection (Sum Assured), based on a multiple of the

annual premium. You can also choose the term of the plan.

At the end of the term, the higher of the value of units or the guaranteed value* is paid. On death,

Sum Assured along with the higher of value of units or the guaranteed value is payable

Additional credits payable as a percentage of the initial annual premium are paid along with the

death or maturity benefit.

Additional insurance for 10 years after the maturity, for an amount of 50% of the Sum Assured.

Flexibility to make additional investment with the help of the top-up facility.

Flexibility to increase / decrease your annual premium amount

Facility of Automatic Premium Payment- With this facility you can take a temporary break

from premium payment.

Total transparency with the premium allocations, and other charges declared upfront.

The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all

charges) along with the declared bonus interests.

With Automatic Premium Payment facility, you can avail a temporary break from premium

payment for a maximum of 1 year. This facility is available once if the premium paying term is

less than 15 years and twice, if it is 15 years or more.

The capital guarantee is applicable only on the invested premium and the declared bonus

interests.

You can also enhance your policy by adding Accident & Disability Benefit Rider, Waiver of

Premium Rider and Critical Illness Rider.

Invest Shield Gold

A unit-linked insurance plan with an assurance of Capital Guarantee which offers you the benefit

of a limited premium payment term. An ideal plan for protection with wealth creation that offers

the flexibility of a limited premium paying term.

Flexibility to choose a premium payment term of 5, 7 or 10 years for a maturity term of 10, 15 or

20 years respectively.

Flexibility to choose a specific level of protection (Sum Assured), based on a multiple of the

annual premium.

At the end of the term (maturity), the higher of the value of units or the guaranteed value* is

paid. On death, Sum Assured along with the higher of value of units or the guaranteed value is

payable.

Additional credits payable as a percentage of the initial annual premium are paid along with the

death or maturity benefit. 

Facility to make withdrawals from the 6th policy year onwards till the end of the policy term.

Every year withdraw up to 10% of the value of units

Flexibility to make additional investment with the help of the top-up facility.
Flexibility to increase / decrease your annual premium amount

Total transparency with the premium allocations, and other charges declared upfront.

The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all

charges) along with the declared bonus interests.

The capital guarantee is applicable only on the invested premium and the declared bonus

interests.  

You can also enhance your policy by adding Accident & Disability Benefit Rider and Critical

Illness Rider.

Premier Life

 Presenting Premier Life – The Preferred plan for the Preferred Customer. The key features of

the plan are:

Limited premium payment option: Choose from among a 3, 5, 7 or 10 year premium paying

term.

Choice of sum assured: Choose a sum assured, which is a minimum multiple of 1 and a

maximum multiple of 25 times the annual contribution.

Additional allocation of units on a periodic basis.

Facility to top-up your investment any time you have surplus funds.

Choose from among four funds, based on your investment objective and risk appetite.

Choice to switch between investments options (4 free switches every policy year).

Flexibility to decrease your sum assured.

Add-on riders to protect you against any eventuality.

Loans against the policy.

You can also enhance your policy by adding Critical Illness Rider, Accident & Disability

Benefit Rider.

Life Time

 Presenting Life Time – unit –linked plans that meets your changing needs over a lifetime. These

solutions have been developed to meet your savings, protection and investment needs at every

stage in life.

Protection

Choose a specified level of protection (available only with Lifetime).

Two levels of Sum Assured to choose from (available only with Lifetime II).

Flexibility to increase or decrease your sum assured.

Add-on riders to protect you against any eventuality.

Savings

Flexibility to increase or decrease your contribution.

Facility of Premium Holiday, wherein the policy continues even if there is a temporary break in

the payment of annual contribution (available only with Life Time).

Facility of Automatic Cover Continuance, wherein the policy continues even if there is a

temporary break in the payment of annual contribution

Facility to top-up your investment any time you have surplus funds.

Additional allocation of units on a periodic basis.

Loans against the policy.

Investment:

Choose from among four funds, based on your investment objective and risk appetite.
Choice to switch between investments options (4 free switches every policy year).

You can also enhance your policy by adding Critical Illness Rider, Major Surgical Assistance

Rider, Accident & Disability Benefit Rider, Accident Benefit Rider (available only with Life

Time) and Waiver of Premium Rider

Secure Plus

An insurance plan that gives added protection, savings and multiple options, all in one!

The flexibility to choose your premium contribution.

The flexibility to choose amongst three levels of cover (in the form of sum assured) for the same

amount of total annual contribution.

The flexibility of shifting between the three levels of cover, as you require.

The flexibility of receiving your maturity proceeds as a lump sum or in equal annual installments

over 3 or 5 years.

  You can also enhance your policy by adding Variety of Riders

Cash Plus

  An insurance plan that gives you added protection, savings, multiple options, plus the power of

liquidity.

The flexibility to choose your premium contribution.

The flexibility to choose amongst three levels of cover (in the form of sum assured) for the same

amount of total annual contribution.

The flexibility of shifting between the three levels of cover, as you require.

The flexibility of receiving your maturity proceeds as a lump sum or in equal annual installments

over 3 or 5 years.
The flexibility of withdrawing up to 10% of the accumulated value of your policy, after the first

5 policy years.

You can also enhance your policy by adding Variety of Riders

Save ‘n’ Protect

An ideal plan for those who want to accumulate funds on a regular basis while enjoying

insurance protection.

Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum Assured, compounded

annually for the first 4 years of the policy.

Extended Life Cover: An extended cover for 5 years after the maturity of the policy, for

50% of the sum assured, at no extra cost.

Maturity Benefit: At the end of the term, the policyholder receives the full sum assured, the

guaranteed additions and the vested bonuses.

Death Benefit: The beneficiary receives the sum assured, the guaranteed additions and the

vested bonuses incase the life assured were to meet with an unfortunate event. In case the life

assured is aged 7 years or less, the basic premium paid will be returned.

 You can also enhance your policy by adding Critical Illness Rider , Major Surgical

Assistance Rider , Accident & Disability Benefit Rider , Waiver of Premium Rider

(WOP)

Child Plan

As a responsible parent, you will always strive to ensure a hassle-free, successful life for your

child. However, life is full of Uncertainties and even the best-laid plans can go wrong. Here’s

how you can give your child a 100% safe and assured tomorrow, whatever the uncertainties.
Smart Kid is especially designed to provide flexibility and safeguard your child’s future

education and lifestyle, taking all possibilities into account. Choose from amongst a basket of 4

plans:

Smart Kid regular premium

Smart Kid unit-linked regular premium

Smart Kid unit-linked regular premium II

Smart Kid unit-linked single premium II

All these plans offer you:

Financial Benefits: Regular payments at critical stages in your child’s life, like Board

examinations, Graduation and Post-graduation.

Total peace of mind, even if you are not around

Sum Assured is paid immediately: Ensures that your loved ones stay financially secure,

even in your absence.

All future premiums are waived: Ensuring that your family is not financially burdened

in your absence.

Policy benefits continue: The educational benefits of the policy continue, ensuring that

your child can realize his or her dreams without any hassles.

Development Allowance: Smart Kid guarantees regular income to secure your child’s

educational career and also ensures his or her all-round development, for a nominal additional

amount. The Income Benefit Rider takes care of this through an annual payment of 10% of the
sum assured, to your child, till the maturity of the policy, in the unfortunate event of the death of

the parent.

 All SmartKid plans can be enhanced with the Accident & Disability Benefit Rider and

Income Benefit Rider . You can also an Accident Benefit Rider to a Smart Kid Regular

Premium policy, and a Waiver of Premium Rider (WOP) to Smart Kid unit-linked

regular premium policy.

INVESTMENT PLANS

Life Link II is a unique plan that combines the security of a life insurance policy with the

opportunity of enjoying high returns on your investments, without the market risks

compromising on the protection of your family.

 Death Benefit: The Sum Assured under the product has 2 options, either 500% of the initial

premium or 105% of the initial premium. In the event of an unfortunate death, the beneficiary

will receive higher of the value of units or the initial death benefit, less any withdrawals.

Withdrawal Benefit: One can make partial withdrawals from the accumulated value of the

policy after completion of one policy year.

Flexibility: Choose from four fund options, based on your investment objective and risk

appetite. If at a later stage your financial priorities change, you can switch between the various

fund options, absolutely free, 4 times a year.

 RETIREMENT PLANS

            Life Expectancy has been rising rapidly and today you can expect to live longer than your

earlier generations. For you, this increase will mean a longer retirement life, stretching into a

couple of decades.  BSLI Retirement Solutions that combine the best of insurance and

investment. These solutions are developed to ensure your peace of mind for the years to come.

Why plan for retirement?

How much should I set aside for retirement?

The impact of inflation on your retirement savings

Why plan early?

About Annuities

Why plan for retirement?

            For too many people, the joy of retirement after years of hard work is eclipsed by the

financial uncertainties that it brings. Despite all the planning and saving, you can never sure

whether your money will last a lifetime. Retirement planning offers a way to ensure a more

enjoyable, stress free tomorrow. A prudent plan will ensure that increasing life expectancy,

higher inflation and increasing taxes do not eat away into your hard earned savings.

How much must I set aside for retirement?

            To ensure a comfortable retired life, you would be wise to invest money into additional

avenues like pension plans. How much you need to invest can be answered by answering some

questions such as:

How long do you have to save that amount before retirement?

Where can you invest your retirement money?

How much risk are you willing to take on your investments?

Group Solutions

In an era of competitive parity, the only asset that makes a decisive difference between corporate

success and failure is the quality of human capital. Employee benefits have proven to be an

excellent tool to optimize the retention of talent and improve an organization’s bottom-line. The

quality of an organization’s employee benefits establishes and maintains a company's image as a

caring employer. Optimum care of employees is a long-term investment that results in a

sustained competitive advantage for an organization in the times to come.

BSLI Group Solutions Advantage:

An integrated basket of employee benefits solutions that offer incomparable flexible benefits.

Sound investment management that focuses on safety, stability and profitability of the portfolio.

Personalized financial planning for your employee that takes care of his/her changing financial

needs at every stage of life.

Quality service initiatives and transparency across all operations, promising superlative

operational efficiency.

Group Term Assurance : Helps provide affordable cover to members of a group.

Group Gratuity Plan : Helps employers fund their statutory gratuity obligation in a flexible

and hassle-free manner.

Group Superannuation Plan : A flexible scheme (defined benefit and defined

contribution) to provide a retirement kitty for each member of the group.

Group Term Assurance:

            BSLI flexible group term solution helps provide affordable cover to members of a

group. The cover could be uniform or based on designation/rank or a multiple of salary, and can
be extended to all employees between the ages of 18 and 65 years. The benefit under the policy

is paid on the event of the member’s death to the beneficiary nominated by the member. It is a

one-year renewable policy where one master policy covers all proposed employees comprising

the group, with a minimum group size of 25 persons. New members can join the group and

outgoing members can leave the group at any point during the policy term.

Highlights include:

Greater convenience for the employees with relaxed underwriting and medical

requirements.

"Free Cover Limits" with simplified underwriting depending upon the number of

employees in the group and the level of cover chosen.

Guaranteed benefit: On death during the term of the contract (while in service), the sum

assured will be paid to the beneficiary of the employee.

Choice of additional coverage in form an Accident and Disability Benefit Rider and Critical

Illness Cover

Premium is viewed as a business expense in the year of payment.

Group Gratuity Plan:

 BSLI group gratuity plan helps employers fund their gratuity obligation in a scientific manner.

Employers can avail of the tax benefits as applicable to approved gratuity funds. The plan can

also be customized to structure schemes that can provide benefits beyond the statutory

obligations.

Highlights include:
Wider choice of investments with Market Linked Plans - to meet the diverse

financial goals. We offer 4 investment options (short-term debt, debt and balanced and capital

guarantee plan) where investments will be made in accordance with the fund objectives.

Transparency through Daily disclosure of Unit Value and regular disclosure of the portfolio

of each of the investment option

Flexibility through switching and contribution redirection option to enable reshuffling of

portfolio

Bundled Life Cover greater values to the employee by packaging life insurance cover with

the gratuity, with minimal amount of underwriting.

Actuarial services to provide a scientific estimation of the gratuity liability.

Low explicit charge structure with the conditions for exit specified upfront.

Enhanced service levels through faster claim settlement, easier access to information and

regular statements.

Complete end to end solutions in the legal and regulatory approval process

for scheme set up or transfer

 Employee Benefits:

The contribution made by the employer is not included in the value of taxable perquisites in the

hands of the employee.

Gratuity received up to Rs 350000 is exempt from Income tax under Sec 10(10)

Employer Benefits:

Annual contribution up to 8.33% of salary bill in a financial year is allowed a deduction for the

purpose of computation of profits and gains of business.

Contribution towards past service liability is allowed as deduction as per the Income Tax rules.
Group Superannuation Plan:

 BSLI Superannuation Scheme (for both Defined Benefit and Defined Contribution funds)

offers substantial benefits to both employers and employees. The employer and employee can

avail of tax benefits applicable to an approved superannuation trust. The scheme will provide for

a retirement fund for each participating employee. An employee would be able to choose from

various annuity options or opt for partial commutation of corpus at retirement.

 Highlights include:

Wider choice of investments with Market Linked Plans - to meet the diverse

financial goals. We offer 5 investment options (short-term debt, debt, balanced,

growth and capital guarantee plan) where investments will be made in accordance with

the fund objectives.

Control - Each member/employer can exercise greater control over investments by choosing

one or more of the investment options.

Multiple Annuity Options - 5 annuity options and open market option

Transparency - Transparency through Daily disclosure of Unit Value and regular disclosure

of the portfolio of each of the investment option

Flexibility - Flexibility through switching and contribution redirection option to enable

reshuffling of portfolio

Low explicit charge structure with conditions for exit specified upfront.

Enhanced service levels through faster claim settlement, easier access to information and

regular statements.

Complete end to end solution in the legal and regulatory approval process for

scheme set up or transfer

Rural Plans

 BSLI Rural Products are designed to meet the needs of the rural consumers. These products

offer the following features:

1. Low and Affordable Premiums

2. Life Cover

3. Savings Option

4. Hassle free procedure

 BSLI offers 2 specially designed rural plans.

  BSLI – Endowment Plan

  BSLI - Regular Premium

BSLI Endowment Plan:

BSLI offers the following features:

Life Cover and Savings

Regular Premiums

Age at entry                                        18 - 45 Yrs

Premium Mode                                   Half Yearly / Yearly

Term                                                    5,10,15 Yrs

Sum Assured                                       Rs.5,000 -20,000

Premium / Year                                   Rs. 507 - 553 ( SA: Rs.10,000)

Maturity/Death benefit                       Sum Assured  

BSLI - Regular Premium:

 BSLI is a regular premium policy with the following features:

Individual policy

Only Life cover

Term - 3 & 5 Yrs

Age independent premium

Age at entry                                        18 - 45 Yrs

Sum Assured                                       Single

Premium / Year                                   Rs 50 – 200

Maturity/Death benefit                       Rs.5,000 - 20,000    

Death Benefit                                     Sum Assured

Plans For NRIs

NRI Plans:

Being away from India doesn't mean you have to compromise the safety and security of your

loved ones. In fact, your savings from your time overseas can be easily canalized to meet your

family's needs - now and in the future. So, whether its your dream to retire in your hometown; to

secure funds for your children's education; or to build assets, BSLI has a range of solutions that

can be customized to meet your needs.

                                                        

BIRLA SUN LIFE INSURANCE GOLD PLUS

Don't we always wish for that something more? A bigger house, a plush set of wheels, holidays

in exotic lands. Here's something that makes sure you get all that and much more. Presenting the

Birla Sun Life Insurance Gold-Plus Plan - a plan unlike any other. It covers your life while

giving you an opportunity to grow your investments for the medium term.
DETAILS

An opportunity to grow your investments for medium term.

Policy terms 8 years.

Paying period 3 years

The policyholder has an option to reduce the annualized policy premium in the 2nd and 3rd year

subject to a minimum annualized premium of Rs.10,000 per year.

Top Up premium – Minimum Rs. 5000

Liquidity through withdrawals and surrender

Withdrawals – after 3 policy years, Min Rs. 5000,two partial withdrawals are free in a year.

Surrender – can be surrendered anytime during the policy term but will be paid after three policy

years (if surrendered in first 3 policy yrs). Surrender  charge is zero after 3rd yr.

Entry age 18 to 70 yrs

Minimum Premium: Rs10, 000

Minimum sum assured: 5 x Annual premium.

Maximum sum assured (multiple of annual premium)

 Age 18-29 30-34 35-39 40-44 45-49 50-54 55-59 60-70

Gold
plus 44 38 30 21 14 10 7 5
multiple

                                                         
NAME OF THE PLAYER MARKET SHARE (%)

LIC 82.3
ICICI PRUDENTIAL 5.63
BIRLA SUN LIFE 2.56
BAJA ALLIANZ 2.03
SBI LIFE 1.80
HDFC STANDARD 1.36
TATA AIG 1.29
MAX NEW YORK 0.90
AVIVA 0.79
OM KOTAK MAHINDRA 0.51
ING VYASA .37
AMP SANMAR 0.26
METLIFE 0.21

Unit Link Bonds

A unit linked bond is a lump sum investment plan that gives you access to various investment

markets throughout the world, via a wide range of professionally managed funds. These funds

have varying objectives and levels of risk.

The underlying make up of the unit linked bond depends on its investment objectives. This

determines the type of stocks and shares in which it invests. Each Investment Linked Bond offers

the option to invest for growth, income or both, you can select the option which best matches

your own needs.  

5 STEPS TO SELECTING THE RIGHT ULIP

Unit Linked Insurance Plans (ULIPs) were always seen as a 'wonder product' that

simultaneously fulfilled an individual's needs for investment and insurance.

 However, the recent downswings in the markets have forced investors to do a rethink. Very often

it was poor selection that was responsible for the investors' woes. Here is a 5-step strategy for

investing in ULIPs.

Understand the concept of ULIPs

Try to do as much homework as possible before investing in an ULIP. This way you will know

what you are getting into and won't be faced with unpleasant surprises at a later stage.

Experience suggests that many a time people do not realize what they are getting into (in fact we

have been approached by several people who wanted to cancel the ULIPs they had been coerced

into taking by unscrupulous agents). Gather information on ULIPs, the various options available

and understand their working.

Read the literature available on ULIPs on the Web sites and brochures circulated by insurance

companies.

Focus on your requirement and risk profile

Identify a plan that is best suited for you (in terms of allocation of money between equity and

debt instruments). Your risk appetite should play an       important role in the plan you choose.

So if you have a high-risk appetite, go in for a more aggressive investment option and vice-a-

versa. Opting for a plan that is lop-sided in favors of equities when you are a risk-averse

individual might spell disaster for you (this is true in most cases currently).

Compare ULIPs of different insurance companies

            Compare products of the leading insurance companies. Enquire about the   premium

payments as ULIPs work on minimum premium basis as   opposed to sum assured in the case of

conventional insurance policies.

Check the fund's performance over the past six months. Find out how the debt and equity

schemes are Performing and how steady the performance has been. Enquire about the charges

you will have to pay. In ULIPs the costs involved are a big deciding factor.

Ask about the top-up facility offered by ULIPs i.e. additional lump sum investments you can

make to increase the savings portion of your policy.

The companies give you the option to increase the premium amounts, thereby providing you

with the opportunity to gainfully utilize surplus funds at your disposal.

Enquire about the number of times you can make free switches (i.e. change the asset allocation

of the money in your ULIP account) from one investment plan to another.

Some insurance companies offer you free switch for a 2-year period while others do so only for 1

year.

4.Go for an experienced insurance advisor

Select an advisor who is not only professional and informed, but also independent and unbiased.

Also enquire whether he has serviced clients  like you.

When your agent recommends a ULIP of X company ask him a few product-related questions to

test him and also ask him why the other products should not be considered.

Insurance advice at all times must be unbiased and independent and your agent must be willing

to inform you about the pros and cons of buying a particular plan.

His job should not just begin by filling the form and end after he deposits the cheque and gives

you the receipt. He should keep a track of your plan and inform you on a regular basis. The key

is to go for an advisor who will offer you value-added products.

5. Does your ULIP offer a minimum guarantee?

In market linked product if your investment's downside can be protected, it  would be a huge

advantage. Find out if the ULIP you are considering offers a minimum guarantee and what costs

have to be borne for the same. This will enable you to make an informed choice.

Will unit linked risk products continue to rule?

Unit linked risk plans are doing roaring business agreed but if the recent reports are any

indication a shake up is on the cards. The mutual fund industry is all set to get aggressive to

counter competition from the insurance industry’s unit linked risk products. For mutual funds the

unit linked insurance products launched by life insurance companies are an encroachment on

their territory. Consider this: Around 80 per cent of the premium income of life insurers has

come in through unit-linked plans in 2004 thanks to the boom in the equity markets.

Which means mutual fund companies are losing out on a huge market that would have otherwise

been theirs? To put an end to such a situation they are toying with the idea of aggressively

publicizing its products through celebrity endorsements which mutual funds feel will give a

never-before fillip to its unit linked schemes.

Unit linked insurance products launched have been doing brisk business and insurers have been

coming out with several such products with slight variations to suit the changing needs of the

customers. These products are investment avenues that provide market related returns to the

investor with an element of insurance thrown in. For the customer the attraction of market related

returns with insurance is an attractive option. On the contrary though mutual fund companies

also have unit-linked products what is absent is the insurance cover.

But the grouse of mutual funds is that they have to adhere to stringent regulations that are absent

for insurance companies when the products are almost similar. While for insurance companies it
is not mandatory to disclose the various expenses related to unit linked risk products such as

expense ratio and brokerages among others, for mutual fund companies it is mandatory.

At a glance the pros and cons:

Pros Cons
 The value of the bond can go down  You'll usually have to invest a
as well as up minimum amount of premium p.a.
 You can invest in a number of that varies from company to
different funds within the bond company e.g. HDFC- Std life has a
 They are run by expert fund min. premium of Rs.10,000.p.a.
managers  You'll usually have to invest for at
 They are free from personal capital least 5 years.
gains tax.

Unit Link Investment Plans of HDFC- Standard Life Insurance Company Ltd.

Before we discuss the plans in detail let’s be accustomed to certain common terms like:

SA- Sum Assured

It is the amount for which a person is insured, so it becomes the minimum amount, which has to

be returned to the insured as per the terms of the policy.

LA - Life Assured-

He/she is the person who has taken the insurance cover.

Premium

These are the installments payable by the LA as against the SA. He can either make monthly,

half-yearly & yearly or even one time payment is allowed.

HDFC Standard Life has 3 Unit Link Investment Plans

  UNIT LINKED YOUNG STAR PLAN

  UNIT LINKED ENDOWMENT PLAN

  UNIT LINKED PENSION PLAN

UNIT LINKED YOUNG STAR PLAN

The plan is affordable, customised to your needs and above all, enables you to realise your

dreams for your child. This plan is well suited for the value-conscious customer, and above all,

for every loving parent. The plan can also be chosen by grandparents, other relatives or any adult

for the benefit of a child

What is the Unit Linked Young Star Plan?

HDFC Unit Linked Young Star Plan is designed to provide a lump sum to the child at   maturity.

It also provides financial security to the child in the future, even in case of the insured parent's

unfortunate death during the policy term. The Unit Linked Young Star Plan also gives the option

of additional protection against the six common critical illnesses.

Your premiums are invested in units of the investment funds of your choice, based on the

prevailing unit prices. On maturity the value of the units will be paid. On death (or critical

illness, if chosen) the selected basic sum assured is paid, and the policy continues until maturity.

Following a valid death or critical illness claim, we will pay the future premiums (at the level

originally chosen at inception) into your policy, as and when they would have fallen due.

Premiums

You agree to pay a level premium regularly, either quarterly, half-yearly or annually, throughout

the term of the policy. The minimum premium amount is Rs. 10,000 each year.

To facilitate increased investment, we allow additional single premium top-ups at any time. The

minimum single premium top-up is Rs. 5,000

Premiums can be paid by cash, cheque or demand draft.

Choose your Investment Funds                       

The policy is fully unitised with a range of funds to match your needs and approach to risk. (By

risk we mean the likely volatility in the value of units in the fund.) Each investment fund is

composed of units. All the units in a fund are identical. You can choose from the following

funds:

Liquid fund

The Liquid fund invests 100% in bank deposits and high quality short-term money market

instruments. The fund is designed to be cash secure and has a very low level of risk; however

unit prices may occasionally go down due to the use of short-term money market instruments. At

inception, investments up to 20% can be allocated to this fund.

Secure Managed fund

The Secure Managed fund invests 100% in Government Securities and Bonds issued by

companies or other bodies with a high credit standing, however a small amount of working

capital may be invested in cash to facilitate the day-to-day running of the fund. This fund has a

low level of risk but unit prices may still go up or down.

Defensive Managed

15% to 30% of the Defensive Managed fund will be invested in high quality Indian equities. The

remainder will be invested in Government Securities and Bonds issued by companies or other

bodies with a high credit standing. In addition, a small amount of working capital may be

invested in cash to facilitate the day-to-day running of the fund. The fund has a moderate level of

risk with the opportunity to earn higher returns in the long term from some equity investment.

Unit prices may go up or down.

Balanced Managed

30% to 60% of the Balanced Managed fund will be invested in high quality Indian equities. The

remainder will be invested in Government Securities and Bonds issued by companies or other

bodies with a high credit standing. In addition a small amount of working capital may be

invested in cash to facilitate the day-to-day running of the fund. The fund has a higher level of

risk with the opportunity to earn higher returns in the long term from the higher proportion it

invests in equities. Unit prices may go up or down.

Growth fund

The Growth fund invests 100% in high quality Indian equities. In addition a small amount of

working capital may be invested in cash to facilitate the day-to-day running of the fund. The

fund has a higher level of risk with the opportunity to earn higher returns in the long term from

the investment in equities. Unit prices may go up or down.

The past performance of any of the funds is not necessarily an indication of future performance.

There are no investment guarantees on the returns of unit linked funds.

None of the funds participate in the profits of HDFC Standard Life Insurance Company Limited

or any of its policyholder funds.

Switching of funds.

You can switch your existing investments from your any of your unit linked funds, to any other

available unit linked fund. You can also give us a premium redirection instruction to redirect

future premiums to different unit linked funds.

 What are the Benefits?

There are 2 different options available 

1.      Life Option

This option consists of a Maturity Benefit and a Death Benefit.

 The Maturity Benefit will pay the value of the unit-linked fund at the end of the policy

term.

 The Death Benefit will pay the basic Sum Assured on death of the life assured during the

policy term. Following payment of this benefit, no further premiums are due from the

policyholder.

 Following a valid death claim, we will pay future premiums on your behalf, as and when

they become due. The level of premium will be that chosen by you at inception of the

policy.

2.      Life and Health Option

This option consists of a Maturity Benefit, a Death Benefit and an Extra Health Benefit.

 The Maturity Benefit will pay the value of the unit-linked fund at the end of the policy

term.

 The Death Benefit will pay the basic Sum Assured on death of the life assured during the

policy term. Following payment of this benefit, no further premiums are due from the

policyholder and the Extra Health Benefit will lapse without value.

 The Extra Health Benefit will pay the basic sum assured on diagnosis of any one of six

critical illnesses during the policy term. Following payment of this benefit, no further

premiums are due from the policyholder and the Death Benefit will lapse without value.
 The illnesses covered under this benefit are cancer, coronary artery by pass graft

surgery, heart attack, kidney failure, major organ transplant (as recipient) and

stroke.

 Following a valid death or critical illness claim, we will pay future premiums on your

behalf, as and when they become due. The level of premium will be that chosen by you at

inception of the policy.

UNIT LINKED ENDOWMENT PLAN

What is the Unit Linked Endowment Assurance?

The unit linked endowment plan is an insurance policy that is designed to pay a lump sum on

maturity or on earlier death. The Unit Linked Endowment Plan also gives the option of

additional protection against the six common critical illnesses, as well as additional protection if

death is as the result of an accident.

Your premiums are invested in units of the investment fund of your choice, based on the

prevailing unit price. On maturity you receive the value of your units. On death (or critical

illness, if chosen) you receive the greater of the value of your units and your selected basic sum

assured.

 Premiums

You agree to pay a level premium regularly, either quarterly, half-yearly or annually, throughout

the term of the policy. The minimum premium amount is Rs. 10,000 each year.

To facilitate increased investment, we allow additional single premium top-ups at any time. The

minimum single premium top-up is Rs. 5,000

Premiums can be paid by cash, cheque or demand draft.

 CHOOSE YOUR INVESTMENT FUND

The policy is fully unitised with a range of funds to match your needs and approach to risk. (By

risk we mean the likely volatility in the value of units in the fund.)

Each investment fund is composed of units. All the units in a fund are identical. You can choose

from the following funds:

  Liquid fund

  Secure Managed fund

  Defensive Managed

  Balanced Managed

  Growth fund

3.      Extra Life Option

This option pays the same benefits as the Life Option but, should death occur within the policy

term as the result of an accident, an extra benefit equal to the Sum Assured will be paid.

4.      Extra Life and Health Option

This option pays the same benefits as the Life and Health Option but, should death occur within

the policy term as the result of an accident, an extra benefit equal to the Sum Assured will be

paid.
SURRENDERING THE POLICY

The policyholder can surrender the policy at any point of time during the contract term. The

amount payable will be the unitised fund value after applying additional surrender charges

mentioned below.

Accessing the money

You can make lump sum withdrawals from you funds provided the fund balance after

withdrawal and charges does not fall below the Sum Assured. The minimum withdrawal amount

is Rs. 10,000.

Discontinuity of Premiums

This product has a grace period of 15 days for the payment of each premium after the initial

premium.

If you stop paying premiums, before you have paid 3 years of annual premiums, we will cancel

you policy and return to you the value of your unitised fund, less cancellation charges.

If, after three years, you are unable to pay the premiums, you have the option to make the policy

paid-up, provided the policy has accumulated sufficient policy value. Currently, this amount will

be Rs. 15,000.

If you make your policy paid up you will continue to be protected according to the benefits you

selected. To provide this cover, we will continue to collect our usual charges on each monthly
charge date. It is important to note that if no further premiums are paid, this may reduce the value

of your fund over time, or even exhaust it completely.

A paid-up policy can be reinstated to premium paying status at any point of time in the future.

If the fund value of a paid-up policy falls below Rs. 15,000 we will cancel the policy and return

to you the fund value, less cancellation charges.

Tax Benefits

Premiums paid under this plan are eligible for tax benefits under Section 88 of the Income Tax

Act, 1961.

Charges

Company deduct charges from the policy to cover their costs.

A percentage of each premium is invested to buy units, this percentage is called the Investment

Content Rate.

THE RATES ARE AS FOLLOWS:

Premium paid Investment Content Rate (ICR)

Regular - Year 1 73%

Regular - Year 2 73%

Regular - Year 3+ 99%

Regular Premium Increases 99%

 Single Premium Top-Up 99%

The unit price each day will include a fund management charge. This charge is 0.80% of the

fund value per annum taken on a daily basis.

A flat fee of Rs 15 per month will be deducted by cancellation of units on each monthly charge

date. This will be proportioned across funds according to the fund holdings at the time of

cancellation of units.

Risk benefits (for death sum assured, critical illness, and accidental death) will be charged for by

cancelling units on each monthly charge date, based on the person’s age at that time.

We charge neither for premium redirections nor for switches but we may do so in the future.

We do not charge for altering the regular premium amount (including making a policy paid-up

and reinstating a paid-up policy), but we may do so in the future.

On cancellation of the policy before 3 years of regular premiums have been paid, we will charge

25% of the outstanding premiums due during this 3-year period.

Alteration to Charges

No changes can be made to our current charges without prior approval from the Insurance

Regulatory and Development Authority.

In any case, the fund management charge will not exceed 2% per annum.

EXCLUSIONS

No benefit will be paid if the death has occurred directly or indirectly as a result of suicide within

one year from the date of first being covered under the policy.
Company does not pay health benefits if the critical illness has occurred within 6 months of the

start of the contract.

Company may not pay health benefits if we do not receive a duly completed claim form within

26 weeks of the illness, disability, operation or other circumstances giving rise to the claim.

Company will not pay health benefits if the critical illness is caused directly or indirectly by any

of the following:

 Intentionally self-inflicted injury or attempted suicide, irrespective of mental condition.

 Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered

medical practitioner.

 War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution

or taking part in a riot or civil commotion.

 Taking part in any flying activity, other than as a passenger in a commercially licensed

aircraft.

 Taking part in any act of a criminal nature.

 Pregnancy or childbirth or complications arising there from.

Company will not pay accidental death benefit if death occurs after 90 days from the date of the

accident.

Company will not pay accidental death benefit if death is caused directly or indirectly from any

of the following:

 Suicide within one year of the Date of Commencement or the date of issue of the Policy,

if later
  Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered

medical practitioner.

 Taking part or practicing for any hazardous hobby, pursuit or race unless previously

agreed to by us in writing

 War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution

or taking part in a riot or civil commotion.

GENERAL INFORMATION

Unit Prices

The Co. set unit price of a fund by dividing the value of the assets in the fund at the valuation

time by the number of units in existence for the fund. The resulting price will be rounded to the

nearest Rs. 0.0001. The value of the assets will be calculated as the Market or Fair Value of the

fund’s Investments plus Current Assets (including accrued income) less Current Liabilities and

Provisions (including accrued expenses). This price will be published on our company’s website.

Prohibition of rebates

Section 41 of the Insurance Act, 1938 states:

1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to

any person to take out or renew or continue an insurance in respect of any kind of risk

relating to lives or property in India, any rebate of the whole or part of the commission

payable or any rebate of the premium shown on the policy, nor shall any person taking
 out or renewing or continuing a policy accept any rebate, except such rebate as may be

allowed in accordance with the published prospectuses or tables of the insurer.

2. Any person making default in complying with the provisions of this section shall be

punishable with fine which may extend to five hundred rupees.

UNIT LINKED PENSION PLAN

What is the Unit Linked Pension Plan?

The unit linked pension plan is basically an insurance contract, which is designed to provide a

retirement income for life.

Your premiums are invested in units of the investment fund of your choice, based on the

prevailing unit price. On vesting the value of your units will be used to buy your retirement

benefits.

On earlier death, the beneficiary receives the value of your units plus a cash lump sum of Rs.

1,000.

Premiums

You agree to pay level premiums regularly, either quarterly, half-yearly or annually, throughout

the term of the policy or a single premium at the start of the policy. The minimum premium

amount for regular premium mode is Rs. 10,000 each year and for single premium, it is Rs.

25,000.

To facilitate increased investment, we allow additional single premium top-ups at any time. The

minimum single premium top-up is Rs. 5,000.

Premiums can be paid by cash, cheque or demand draft.

 Choose your investment funds

The policy is fully unitised with a range of funds to match your needs and approach to risk. (By

risk we mean the likely volatility in the value of units in the fund.) Each investment fund is

composed of units. All the units in a fund are identical. You can choose from the following

funds:

  Liquid fund

  Secure Managed fund

  Defensive Managed

  Balanced Managed

  Growth fund

Switching of funds.

You can switch your existing investments from your any of your unit linked funds, to any other

available unit linked fund. You can also give us a premium redirection instruction to redirect

future premiums to different unit linked funds.

Benefits

At the chosen vesting date, the unitised fund value will be available to secure pension benefits.

Subject to the prevailing regulations, part of this value can be taken in the form of a cash lump

sum and the rest converted to an annuity at the rate then offered by HDFC Standard Life.
 Alternatively, if it is permitted by the prevailing regulations, the proceeds net of any cash lump

sum can be used to buy an annuity with any other insurance company who will accept such

business. The current maximum limit for any cash lump sum is one-third of the unitised fund

value on vesting.

On death the unitised fund value will be paid along with a cash lump sum of Rs. 1,000. The

beneficiary may use the proceeds to purchase pension benefits for the surviving spouse.

How are benefits paid?

Your basic benefits will be paid by cheque.

PROHIBITION OF REBATES

Section 41 of the Insurance Act, 1938 states:

1.      No person shall allow or offer to allow, either directly or indirectly, as an inducement to any

person to take out or renew or continue an insurance in respect of any kind of risk relating to

lives or property in India, any rebate of the whole or part of the commission payable or any

rebate of the premium shown on the policy, nor shall any person taking out or renewing or

continuing a policy accept any rebate, except such rebate as may be allowed in accordance with

the published prospectuses or tables of the insurer.

2.      Any person making default in complying with the provisions of this section shall be punishable

with fine which may extend to five hundred rupees.

 OTHER COMPANY PROFILE
Major insurance company share in market
LIC 82.3
ICICI PRUDENTIAL 5.63
BIRLA SUN LIFE 2.56
BAJA ALLIANZ 2.03
SBI LIFE 1.80
HDFC STANDARD 1.36
TATA AIG 1.29
MAX NEW YORK 0.90
AVIVA 0.79
OM KOTAK MAHINDRA 0.51
ING VYASA .37
AMP SANMAR 0.26
METLIFE 0.21

AVIVA LIFE INSURANCE

Kal Par Control
Lifesaver

 Life Saver is designed to meet your specific long-term saving needs such as education and

wedding costs for your children, with the added reassurance of life cover to meet those costs in

the unfortunate event of your death before the policy matures. lifesaver ensures availability of a

lump sum fund to you on       your survival at the end of the policy term.    

What is life Saver?

  Life Saver is a unitized fixed term, protection cum savings plan.

  Lifesaver provides cover against death as well as accidental death/disability or critical illness.
  Lifesaver can be purchased on any life between 18 to 65 years and for any term subject to a

minimum of 5 years and the age of the insured not exceeding 70 years at maturity. However, for

any rider cover the maximum entry age is 55 years.         

  The minimum premium is As.3, 500 for yearly, As.2, 000 for half-yearly, As.1, 000 for quarterly

and As.350 for monthly frequency of premium payment.

  On payment of each premium, units are allocated to the unit account at the purchase price of the

unit at the date of allocation. Policy value is determined by multiplying the total number of initial

and accumulation units held in the unit account by the selling price of the unit. The units

purchased with the first year's premium are called Initial Units and units purchased with second

and subsequent years' premium and additional single premiums are called Accumulation Units.

INVESTMENT OPTIONS

Lifesaver offers four investment funds:

With Profit funds Unit Linked Fund

Secure Fund Growth Fund Balanced Fund
Objective
Provides a Progressive return High capital growth Capital growth by
guarantee that the on your investment by investing higher availing
selling price of the by investing higher element of assets in opportunities in debt
units will never fall. element in debt the equity market. and equality
The unit value of securities, with a markets and
this fund is minimum exposure providing you a
increased by credit- to equalities good balance
ing bonuses on between risk and
daily. Compounding return. 
basis. A final bonus,
if any, may also be
payable at maturity,
death or at the time
of surrender .The
fund provides
investment security
to your capital.
Composition (Range )
Debt securities : 70 Debt securities : 60 Debt securities : Debt securities : 50
% -100 % % -100 % 0% -50% % -90 %
Equities : 0-20 % Equities : 0-20 % Equities : 30-85% Equities : 0-45 %
Money market and Money market and Money market and Money market and
cash : 0-10 % cash : 0-20 % cash : 0-20 % cash : 0-10 %
 ICICI PRUDENTIAL LIFE INSURANCE

PREMIER LIFE

How does Premier Life work for you

You can choose a specified level of protection according to your need. Parat of the contribution

paid is adjusted towards mortality and administrative charges and the rest is invested in the

investment option of your choice. Entry into the plan will be based on the unit value of the

investment option at theta time. Your policy value is based on the value of units slated to you.

How do I start?

Open an account with a minimum contrition of:

  Rs 60,000 per annum for annual premium payment

  Rs.30,000 per half-year for half yearly premium payment

  Rs. 5,000 per month for Monthly premium payment.

Asset Allocation

Fund Asset Mix Potential Risk-Reward

Maxi miser II Equity and Related Securities : Max 100 % High
Debt, Money Marker and Cash :Max : 25%
Balancer II Equity and Related Securities : Max 40  % Average
Debt, Money Marker and Cash :Max : 60%
Protector II Equity and Related Securities : Max 100 % Moderate
Debt, Money Marker and Cash :Max : 25%
Preserver Debt Instruments : Max 50 % Low
Money and cash : Min 50 %  

 Allocation of Premium
 Premium Range 1st Year 2nd and 3rd Year
Rs. 60,000 – Rs.4,99,999 87% 96%
Rs. 5,00,000 and above 89 % 96 %

Invest Assure; a unique, flexible insurance plan combines the security of a life insurance policy

with the opportunity to exploit the upside of market returns.  (However with increased

investment volatility)

Invest Assure-The Benefits

  Provides security to your family incase of your unfortunate demise.

  Gives you the flexibility to choose your fund based on your risk comfort.  

  Enables you to enjoy market-linked returns with a potential for higher growth

  Brings you additional income on funds that might have otherwise given you minimum returns in

your saving account.

 MAX NEW YORK LIFE

Life Maker Unit Linked Investment Plan

A winning plan form every direction

1f How does the Life Maker Unit Linked Investment Plan work?

In the Life Maker TM unit linked plan; the premiums you pay are invested in funds offered by

us. The appropriate ratio of investments into these funds will be determined by you in

consultation with your Agent Advisor. These funds are invested in assets such as equities, money

market instruments, investment grade corporate bonds, and government securities. These funds

offer a wide range of returns. You can choose to invest your premiums in one or more of these

funds, basis your risk taking ability.

In turn, we issue units, which represent the value of your policy Le. you can "see" the value of

your policy on any day by multiplying the number of your units by the value of units on that day.

The value of these units is called the Net Asset Value (or NAV) and is normally published in

newspapers on a daily basis. The NAV is based on the market value of the underlying

investments in that fund Le. equities, company bonds, government securities, etc.

Types of Funds

Secure Fund - invests 100% in high quality fixed income securities issued by the Government

of India, or companies or other bodies corporate with a high credit rating. This fund will have

low level of risk and return.

Conservative Fund - invests largely in high quality fixed income securities issued by the

Government of India or companies or other bodies corporate with a high credit rating. A small

portion of the fund, not exceeding 15%, may be invested in high quality Indian equity stocks.

This fund will have a low to moderate level of risk and return.

Balanced Fund - invests in both high quality fixed income securities issued by the Government

of India or companies or other bodies corporate with high credit rating, as well as in high quality

Indian equity stocks. However, the investment in equities will not exceed 40% of the size of the

fund. This fund will have a moderate level of risk and return.

Growth Fund - invests largely in high quality Indian equity stocks. A small portion of the fund

may be invested in high quality fixed income securities issued by the Government of India or

companies or other bodies corporate with high credit rating. This fund will have a moderate to

high level of risk and return.

Allianz Bajaj Unit Gain

The Allianz Bajaj Unit Gain Plan

The Allianz Bajaj Unit Gain comes with a host of features to allow you to have the best of all

worlds – Protection and Investment with flexibility like never before.

Some of the key features of this plan are:

 Guaranteed death benefit

  Choice of investment funds with flexible investment management you can change funds

at any time.

 Attractive investment alternatives to fixed- interest securities.

 Provision for full/ partial withdrawals any time after three full years premiums are paid.

 Unmatched flexibility – to match your changing needs.

The four funds offered are as under:-

a)      Equity Bond – This fund provides the scope of high appreciation over a long term. The fund will

primarily invest in equities & is expected to match returns given by NSE NIFTY. This fund will

invest at least 90% in equities and maximum 10% in cash.

b)      Debt Fund – This fund provides the scope for steady returns at low risk through investment in

high quality fixed income securities. This fund will be invested fully in debt instruments.

c)      Balanced Fund – The balanced fund is primarily for those who prefer a mix of steady returns &

growth. The balanced fund will invest 30% to 50% in the equity fund and 50% to 70% in the

debt fund.

d)     Cash Fund – The cash fund will invest conservatively in money market & short-term

investments to ensure that return on investments shall never be negative. 100% of this fund will

be invested in money market instruments. The price of the units in this fund is guaranteed never

to go down.
 KOTAK FLEXI PLAN

“What is the Kotak Flexi Plan?”

An investment cum insurance plan that can be customized to meet your constantly evolving

needs. While on one hand it lets you decide the amount of insurance cover that you want, on the

other hand, it invests a portion of the premium in the capital markets to ensure that your money

works hard for you.

At the same time the plan ensures that you have enough flexibility to meet your financial

objectives of savings and protection, both through this single plan. The plan gives you the option

to add lump sum injections, when you want. And what’s more it cover, you the flexibility to

withdraw your funds in part in full.

Plan Description

When you invest in the plan, you have the flexibility to choose the portion of your money that

should go towards providing your insurance cover, and the portion should go towards the

investment corpus.

Maturity Benefit:- You have the option to choose the sum assured that you would want on

maturity. This sum assured would be referred to as the maturity sum assured or SA–1. Portion of

the premium corresponding to this amount would be referred to as the investment premium or

P1.

On maturity, you would event of death of the life insured, the beneficiary would receive SA2

plus the market value of the units, less unpaid P2 premiums.

Death Benefit:- The plans offer you the flexibility to decide the amount of insurance cover that

you want. The amount of insurance cover selected would be referred to as the insurance sum
assured or SA2. Portion of the premium corresponding to SA2 would be referred to as the

insurance premium or P2.

In the unfortunate event of death of the life insured, the beneficiary would receive SA2 plus the

market value of the units, less unpaid P2 premiums.

Money Market Fund – The fund seeks to provide reasonable returns commensurate with low

risk through investments in money market instruments such as treasury bills, commercial paper,

call money market, etc.

Floating Rate Fund – The fund seeks to deliver returns in line with the market interest rate,

from a portfolio invested primarily in floating rate debt instruments.

Gilt Fund – The fund seeks to generate returns through investments primarily in government

securities. The fund gives you an option to invest in zero credit risk Central Government

securities as it recognizes that safety for you is prime.

Bond Fund – The fund seeks to generate returns from a portfolio constituted primarily of high

quality debt paper issued by corporate in India.

Balanced Fund – The fund seeks to achieve steady income and capital appreciation from a

portfolio constituted of high quality debt securities and listed equity.

Growth Fund – The fund seeks to achieve capital appreciation through investments in listed

equity and equity – related investments. Securities will be enhanced through holdings in highly

rated debt securities.

Eligibility

ENTRY AGE                                     Min – 14 years

                                                            Max – 65 years

TERM OF THE PLAN                      Min – 10 years

                                                            Max – 30 years

LUMP SUM INJECTION                 Min – Rs 10,000

AMOUNT                                          Thereafter in multiples of Rs. 10,000

PART WITHDRAWLS AMOUNT  Min – Rs. 10,000

                                                            Max – Subject to leaving behind a balance of Rs.

10,000 in the Main Account

SA2                                                     Min – Rs. 50,000

P1 (INCLUDING POLICY FEES)   Mode                           Amount

                                                            Quarterly                     Rs . 2,620

                                                            Half Yearly                 Rs. 5,115

                                                            Yearly                                     Rs. 10,000

 LIFE INSURANCE CORPORATION
LIC’s Future plus

It fulfills an existing Mkt. Demand & combines Retirement Benefits with U.L. Benefits

Features:-

1)      Min Premium = 10,000

2)      Max Premium = No Limit

3)      Mode of Payments – Cash up to any amount or Local Cheque / D.D.

4)      Add onus – Ins. Cover/ Accidental Benefit/Critical illness optional

5)      Switch over from fund to another any number of time.

6)      4 Switches free in a yr & Rs. 100 per switch over thereafter.

7)      Min Term – 5 yrs.

8)      Vesting Age 40-75 yrs.

9)      Any person b/w 18-65 yrs only.

10)  Add to your fund any time & any amount in multiple of 1000 only.

11)  No medical Exam

12)  Zero lock in period.

                                                              
 RESEARCH METHODOLOGY

            “The research design is the conceptual structure with in which research is conducted it

consist the blue print of the collection measurement and analysis of data.”

            In that project the research design was adopted for the “Descriptive research study” the

exploratory research studies are also termed as formulate research studies. The main purpose of

such studies is that of formulating a problem for more precise investigation or of developing the

working hypothesis from an operational point of view

            The main purpose of the study was to tell the consumer perception in ‘A . The major

emphasis was on the discovery of the ideas and opinions of the consumers at different levels in

the existing environment.

            Two methods that are used for the study are:

1. The survey of concerning literature.

2. The experience study.

SAMPLE DESIGN

            A sample design is a definite plan for obtaining a sample from a given population. It

refers to the technique or the procedure the researcher would adopt in selecting items for the

sample. The sample design is determined before data are collected.

             The sampling used for the study is “Convenience Sampling”. Under this sampling design

every item or the universe has equal chance or inclusion in the sample because this is

Consumers’ Perception survey, so we give each person at any place an equal probability of

getting into the sample.

DATA COLLECTION

TYPES OF DATA

In the survey two types of data are collected:

1.      Primary data: These data’s are those which are collected for the first time and therefore original

in nature.

2. Secondary data: Data, which have already been collected by someone else and hence

passed through the statistical process.

DATA SOURCE

         PRIMARY DATA COLLECTION

For the collection of the primary data following methods were used:

1.      Interview method: Personal interviews of the customers are taken at different levels to get their

opinions and suggestions. And the interview was structured in nature.

2.      Questionnaire method: Structured questionnaire on the basis of information collected from

different sources. The questionnaire contains both open and ended questions.

         SECONDARY DATA COLLECTION

Secondary data were collected from the following sources:

a.       Books related to topic

b.      Organization documents

c.       Magazines
d.      Websites

DATA APPROACHES

Stratified Random Probability Sample Selection Method.

         Research Instrument

Questionnaire

Focus Group

Observation

Direct Method

MECHANICAL INSTRUMENT:

Telephonic Method

POPULATION:

Sampling Unit:  Comparative Study between Birla Sun life & Other Insurance Companies

Sample size : Approximate 100

         Sample Selection Procedure :   Probability

         Contact Method

         Direct method

         Telephone

         STATISTICAL TOOLS USED

Statistical tools used in the project study are:

Graph
 FINDING & ANALYSIS

                                                   
Question 1- Given a choice you would prefer to invest in?

S.No. Investment Options Percentage

1 Fixed Deposits 31.4
2 Post Office Schemes 21.6
3 NSS 14.7
4 Shares 8.8
5 Insurance 12.7
6 Others 10.8

Interpretation:  Mostly people are interested in investing in FDs, Post office schemes, NSS and
Very few are i.e. 12.7% interested in investment in Insurance
Question 2-How much of your income would you like to  invest in insurance annually?

S.No. 1 2 3 4
Income group 1000-5000 6000-10000 11000-20000 20000&above
Percentage 36.3 39.2 12.7 11.8

Interpretation:  Around 40% of respondents are willing to invest in insurance between Rs 6000-
Rs 10000. annually. 36.3% people are ready to invest between Rs 1000 to Rs 5000 and very few
are willing to invest in insurance above Rs10000 annually.

                                                              
Question 3- While taking insurance plan how you rate the following?

S.No Purpose of Insurance Percentage

.
1 Tax Benefits 23.7
2 Investment 32.3
3 Saving 24.7
4 Risk 19.3

Interpretation:  According to the rating, it has been found that people take insurance basically
for risk coverage i.e. 19.3% and secondly in order to get tax benefits i.e.. 23.7%, followed by
savings i.e.24.7% and very few think it for investment Options.

                                                              
Question 4- In future, which life insurance plans you will prefer?
 S.No. 1 2 3 4 5
PLANS Pension Plan Protection Saving Plan Investment ULIP
Plan Plan
PERCENTAG 55% 12% 8% 21% 4%
E

Interpretation :  The graph indicates that 55% of people will like to go for Pension Plan in
future as most of them want to make their future secure . Very few people are aware of Unit Link
Plans and would like to invest in them one of the reason for this can be lack of information about
such Plans.

Question 5-.PERCENTAGE OF PEOPLE HAVING LIFE INSURANCE POLICY ?

Sample size – 100

Insured 93%
Not Insured 7%

Interpretation :  The above diagram represent that 93% of people are covered under life
insurance while 7% are still not insured.
Ques.6.  Which  Birla Sun Life Scheme does you have?

S. No. 1 2 3
Plan Health Retirement Life
Percentage 10% 22% 68%

Interpretation:  On the basis of above analysis it has been concluded that around 68% of the
policy holders are having life plan, 22% of them are having Retirement plan and rest of them are
having the health plan.
Question.7. Which plan of Birla Sun Life attract the Investor?

Option Percentage
Yes 72
No 28

Interpretation:  On the basis of the analysis it has been concluded that around 72%of the people
are satisfied with plan they and rest if them are not satisfied.
Ques.8. Are you satisfied with the services provided by the company regarding new plans
and schemes?

Option Percentage
Yes 82
No 18
 

Interpretation:  On the basis of the above

analysis it has been concluded that around 82%

of the policy holders are satisfied with the

services provided by the company and rest of

them are not satisfied.

Ques.9. Are you interested to make more investments in BSLI ?

Option Percentage
Yes 67
No 33
Interpretation:  On the basis of the above

analysis it has been concluded that around 67%

of the policyholders are interested to make more

investments in BSLI  and rest of them are not

interested.
Ques.10.  Have you any other Insurance Plan apart from BSLI?

Option Percentage
Yes 72
No 28

 
            Interpretation:  On the basis of the

above analysis it has been concluded that

around 72% have a  BSLI  plan

Ques. 11.  If yes, then of which Life Insurance Company?

S. No. 1 2 3 4 5
Company LIC BSLI BAJAJ ICICI OTHER
ALLIANZ
Percentage 60 12 11 8 9

Interpretation :  From the above analysis it has

been concluded that around 89% of policy

holders are having other insurance plans apart

from BSLI , in which around 60 % are having

LIC insurance plans, 11% are having Bajaj

Allianz, 9% are having Birla Sunlife, 8% are

having ICICI Pru. and 12% are having other

company insurance plans.

Ques.12.  If you get any attractive plan than are you ready to switch over?

Option Percentage
Yes 82
No 18

 
Interpretation:  On the basis of the above

analysis it has been concluded that around 82%

of the policy holders are ready to switch over if

they get good attractive insurance plan and rest

of them don’t.

Question 13.-PERCENTAGE OF PEOPLE INSURED WITH DIFFERENT COMPANIES

S.No. COMPANIES PERCENTAGE

1 LIC 72.5%
2 HDFC- Std Life Insurance 3.9%
3 ICICI 10.8%
4 Birla Sun Life 1%
5 Tata AIG 1%
6 Max New York Life 4.9%
7 No Response 5.9%
                                               

     
       
Interpretation :  While LIC still remains the undisputed leader with a commanding share of
72.5%.LIC is beginning to feel the pinch of a gradual warning of market share from 100%three
years ago. Knocked by competition from private players it is making serious changes in its
marketing strategies.

Question 14 - From where did you get the information about the policy?.

S.No. OPTION PERCENTAGE

1 Friend & Relative 65.7

2 Media 11.8
 3 FC 15.7
4 Other 6.9

Interpretation:  Friends and relatives play a significant role in influencing the individual’s
decision regarding going for life insurance policy, followed by advisors or financial consultants
then media and others.

Question 15- What expectations do you have from the advisor/FC ?

S.No. Expectations Percentage

1 Knowledge 42
2 Rebate 26
3 Understanding 27
4 After Sale Service 5
Interpretation :  Around 42% of people expect the Advisor’s / FC  to be knowledgeable about
the various Insurance Plans and very less importance i.e. 5% is given to after sale service being
provided by these advisors.

CONCLUSION

Over the past three years, around 40 companies have expressed interest in entering the sector and

many foreign and Indian companies have arranged anticipatory alliances. The threat of new

players taking over the market has been overplayed. As is witnessed in other countries where
liberalization took place in recent years we can safely conclude that nationalized players will

continue to hold strong market share positions, but there will be enough business for new

entrants to be profitable.

Opening up the sector will certainly mean new products, better packaging and improved

customer service. Both new and existing players will have to explore new distribution and

marketing channels. Potential buyers for most of this insurance lie in the middle class. New

insurers must segment the market carefully to arrive at appropriate products and pricing.

Recognizing the potential, in the past three years, the nationalized insurers have already begun to

target niches like pensions, women or children.

Given the industry’s huge requirement of start-up capital, the initial years after opening up are

bound to see a strong inflow of foreign capital. Substantial shift in the distribution of insurance

in India is likely to take place. Many of these changes will echo international trends. Worldwide,

insurance products move along a continuum from pure service products to pure commodity

products. Initially, insurance is seen as a complex product with a high advice and service

component. Buyers prefer a face-to-face interaction and place a high premium on brand names

and reliability.

Finally, some potential Indian entrants into insurance hope to ride their existing distribution

networks and customer bases. For example financial organizations like ICICI, HDFC or BIRLA

intend to tap the thousands of customers who already buy their deposits, consumer loans or
housing finance. Other hopeful entrants anticipate specific alliances such as with hospitals to

provide health cover. 

SUGGESTIONS  
1.     To address mass is cheaper. Thus sponsoring the events conducted by CII, FICCI, PHD Chamber

of commerce and other such renowned organizations could be fruitful. Along with these certain

cultural events may be sponsored.

2.         Increasing awareness level by increasing number of hoarding in prime areas such as Bank Square

sector  , railway station, bus stand and industrial area.

3.         There should be no upper limits for CFC's under a BDM because as competition goes companies

like Allianz Bajaj and Tata AIG has no upper limits.

4.         Measures to build faith among people about corporate BIRLA SUN LIE INSURANCE must be

taken on accounts of its reliability, credibility, responsibility, sincerity and the long lasting

establishment.

5.         Since all the riders attached with any of its products is along with a slight increment in the

premium rates, as such a few cost free riders should be designed to attract more customers.

6.         Put up ATM's in different areas so that premium can be collected across the country.

7.         There should be a particular. Product, which can be termed as Fixed Deposit Insurance product,

where life insurance policy can act as a fixed deposit for the customer, which can be encashed

whenever required up to a certain percentage of sum assured.

8.         The agent should not only be provided with training at time of section but they should also be

given refresher training periodically. As the agents find training a step to be selected as an agent

of the company, the agent should be provided the knowledge about all the cheques. It increase

their professionalism make them more competitive. Every year the agents should be given the

training for at least one week.

9.         The company should take steps to give more incentives to the agents as the commission

percentage is fixed by insurance regulatory developments authority (IRDA).

10.       As the most important media to increase the sate, the agent should be provided with more and

more incentives to motivate them to work for that company only.

11.       The company should also make effort in advertisement through city Cable Channel as wide is

covered by it Banners on the highway or other crowded area should be setup.

12.       The company should cover various risks in one policy with same premium.

LIMITATIONS
  Some of the respondents were not cooperative.

  Some respondents were hesitating to give business details.

  Biasness is another limitation that the scope of the survey.

  The reliability and scope of survey greatly relies on the cooperation of the respondents.

 
 BIBILIOGRAPHY

BOOKS-

 Kothari C.R., Research Methodology, 4th Edition 2002   

 Kottler Philip, Marketing Management, 10th Edition, Prentice- Hall of India Pvt. Ltd., 2001   
 Thakur Devendra, Research Methodology, Deep & Deep Publication Pvt. Ltd. , 2005   

MAGAZINES

 India Today
 Business World
 Money
 Business Week

INTERNET
 www.birlasunlife.com
 www.birlasunlifeinsurance.com

QUESTIONNAIRE

Question 1- Given a choice you would prefer to invest in?

S.No. Investment Options Tick
1 Fixed Deposits
2 Post Office Schemes
 3 NSS
4 Shares
5 Insurance
6 Others

Question 2-How much of your income would you like to  invest in insurance annually?
S.No. 1 2 3 4
Income group 1000-5000 6000-10000 11000-20000 20000&above
Tick

Question 3- While taking insurance plan how you rate the following?
S.No Purpose of Insurance Tick
.
1 Tax Benefits
2 Investment
3 Saving
4 Risk

                                            
Question 4- In future, which life insurance plans you will prefer?
S.No. 1 2 3 4 5
PLANS Pension Plan Protection Saving Plan Investment ULIP
Plan Plan
Tick

Question 5-.PERCENTAGE OF PEOPLE HAVING LIFE INSURANCE POLICY ?

Option Tick
Insured
Not Insured

Ques.6.  Which  Birla Sun Life Scheme does you have?

S. No. 1 2 3
 Plan Health Retirement Life
Tick

Question.7. Which plan of Birla Sun Life attract the Investor?

Option Tick
Yes
No

Ques.8. Are you satisfied with the services provided by the company regarding new plans
and schemes?
Option Tick
Yes
No

Ques.9. Are you interested to make more investments in BSLI ?

Option Tick
Yes
No

Ques.10.  Have you any other Insurance Plan apart from BSLI?

Option Tick
Yes
No

Ques. 11.  If yes, then of which Life Insurance Company?

S. No. 1 2 3 4 5
Company LIC BSLI BAJAJ ICICI OTHER
ALLIANZ
Tick
12.    ANY SUGGESIONS:

1………………………………………………………..  

2………………………………………………………..

3………………………………………………………..
   

  Name: ----------------------------------------------------------

 Address/Phone No:

--------------------------------------------

 Age   -------------------------------------------------------------

 Organization and Designation

---------------------------------