SUMMER TRAINING REPORT ON

Perception of Insurance Customers with special reference to HDFC SLIC

SUPERVISED BY:ABHISHEK MAHAJAN S.D.M HDFC SLIC

SUBMITTED BY:JASPREET SINGH MBA 3 RD SEMESTER UNIVERSITY ROLL NO. 890863

TABLE OF CONTENTS

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16.

Acknowledgement Introduction to the company History Awards and Accolades Board members Areas of operation Recruitment process Future plans Market Share Major Competitors S.W.O.T Analysis Research Methodology Findings Analysis and Interpretation Conclusion Questionnaire Reference

ACKNOWLEDGEMENT

There is always a sense of gratitude which one express to other for the helpful so needy services they render during all phases of life. I would like to express my gratitude towards all those who have been helpful to me in getting this mighty task of training to a successful end.

First of all, I consider it a pleasant duty to express my heart felt appreciation, gratitude and indebtedness to Mrs. Kaveri Sehgal(Branch Trainer) for his keen interest, invaluable pain taking & excellent guidance, patience, endurance, encouragement & thoughtful advice throughout the project work duration at HDFC SL INDIA.

I am also thankful to Prof. Shivali Dingra without whose keen interest this project would not have been in existence.

I would also like to be thankful to Mr. Abhishek Mahajan (SDM) who has given me the right way to prepare my project report.

I would take this opportunity to thank all my family members for their helps & suggestions during the course of project work. I am als o thankful to all my friends who gave me constant & continuous inspiration to complete this project.

(Jaspreet Singh)

1. INTRODUCTION TO THE COMPANY COMPANY PROFILE OF HDFC STANDARD LIFE INSURANCE COMPANY LTD

ABOUT HDFC STANDARD LIFE INSURANCE
HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture.

HDFC STANDARD LIFE INSURANCE PARENTAGE
HDFC Limited.  HDFC is India leading housing finance institution and has helped build more than 23, 00,000 houses since its incorporation in 1977.  In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr.  As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor base now stands at around 1 million depositors.  Rated AAA by CRISIL and ICRA for the 10th consecutive year  Stable and experienced management  High service standards  Awarded The Economic Times Corporate Citizen of the year Award for its long-standing commitment to community development.  Presented the Dream Homeâ award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards.

pension. and is rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's  Standard Life was awarded the 'Best Pension Provider' in 2004. The '5 accolade has also been awarded to Standard Life Investments for the last 10 and to Standard Life Bank since its inception in 1998. and it was voted a 5 star life and pensions provider at Star' years. 2005 and 2006 at the Money Marketing Awards. banking and health-care needs  Its investment manager currently administers £125 billion in assets  It is a leading pensions provider in the UK. was the Financial Adviser Service Awards for the last 10 years running. investment.Standard Life Group (Standard Life plc and its subsidiaries)  Standard Life Group (Standard Life plc and its subsidiaries)  The Standard Life group has been looking after the financial needs of customers for over 180 years  It currently has a customer base of around 7 million people who rely on the company for their insurance. Standard Life Bank awarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006 .

Union Bank of India. You can also pay by ECS or Automatic Debit System or credit cards or standing instruction mandate. Deepak Satwalekar. Sarawat Bank and Bajaj Capital. Ltd was incorporated on 14th august 2000. The premium payment options available to the customers vary from online payment to direct desk payments at the HDFC Standard Life Branches.) India and UK based Standard Life Company.7 lakh lives by March'2007. HDFC Standard Life Insurance Corporation is sure to become one of the leaders and the first Preference for any life insurance customer. The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd. 2. Indian Bank. by courier services or in drop boxes provided. HDFC Standard Life brings to you a whole range of insurance solutions be it group or individual or NAV services for corporations. HDFC Standard Life Insurance India boasts of covering around 8. HDFC Bank India Limited. Bank of Baroda. Both the joint venture partners being one of the leaders in their respective areas came together in this 81. HISTORY HDFC Standard Life Insurance Co. . HDFC Standard Life Insurance Company is a customer oriented corporation and aim at complete customer satisfaction. The MD and CEO of HDFC Standard Life Mr. 856 crores.4:18. they can be easily customized as per specific needs. The gross incomes standing at a whopping Rs.2.6 joint Venture to form HDFC standard life insurance company limited. has given the company new directions and has helped the company achieve the status it currently enjoys.

A completely hassle-free process has been formulated to provide maximum convenience. HDFC Standard Life first came together for a possible joint venture. Despite this both companies remained firmly committed to the venture. Even the claim procedure has been simplified since affect of the loss life is irreparable and is thus fully understandable at HDFC Standard Life. due to changes in government and ongoing delays in getting the IRDA (Insurance Regulatory and Development authority) Act passed in parliament. .The lapsation and renewal policy of HDFC Standard Life are clearly defined on the official website. Around this time Standard Life purchased 2% of Infrastructure Development Finance Company Ltd. based in Mumbai. to enter the Life Insurance market. In October 1995 the companies signed a 3 year joint venture agreement. Online renewal forms are also available. For any change in personal details like the contact details or the nominee of the policy or policy benefits. It was clear from the outset that both companies shared similar values and beliefs and a strong relationship quickly formed. online servicing is also available. (IDFC). in January 2000 an expert team from the UK joined a hand picked team from HDFC to form the core project team. the opening of the market looked very promising and both companies agreed the time was right to move the operation to the next level. In October 1998. Around this time Standard Life purchased a 5% stake in HDFC. further strengthening the relationship. The next three years were filled with uncertainty. the joint venture agreement was renewed and additional resource made available. Towards the end of 1999. Therefore. in January 1995. Standard Life also started to use the services of the HDFC Treasury department to advise them upon their investments in India.

while Standard Life owns 18.Around this time Standard Life purchased a further 5% stake in HDFC and a 5% stake in HDFC Bank. . Incorporation of HDFC Standard Life Insurance Company Limited: The company was incorporated on 14th August 2000 under the name of HDFC Standard life insurance company limited. the leading providers of financial services in the United Kingdom. Their ambition from the beginning was to be the first private company to re-enter the life insurance market in India. this is the maximum investment allowed under current regulations. The ambition of HDFC Standard Life is to mirror the success of the parent companies and be the yardstick by which all other insurance companies in India are measured. with 81. HDFC and Standard Life have a long and close relationship built upon shared values and trust.6%. On the 23rd of October 2000. The Mutual Fund was Launched on 20th july 2000.4%. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd). In a further development Standard Life agreed to participate in the Asset Management Company promoted by HDFC to enter the mutual fund market. this ambition was realised when HDFC Standard Life was the first life company to be granted a certificate of registration. HDFC are the main shareholders in HDFC Standard Life. Given Standard Life's existing investment in the HDFC Group. HDFC Standard Life Insurance Company Limited is one of India's leading private life insurance companies offering a range of individual and group insurance solutions. India's leading housing finance institution and Standard Life plc.

etc. and immaculate financial security. HDFC Standard Life maintains very high professional standards during product offerings byproviding sound financial advice. HDFC Standard Life also has more than 383 corporate agents and other sales intermediaries including banks for distribution of insurance products.000 Financial Consultants. as on December 31. Pension. Ongoing training for conventional products. HDFC Standard Life's Product portfolio comprises solutions. The company currently has 21 retail and 6 group products in its portfolio. for its financial consultants. Last year. best suited for their needs. at a nominal price. the applications for its financial consultants. providing centralized control over a vast geographical spread for key business units such as inventory. its path-breaking implementation of an enterprise-wide workflow system.HDFC Ltd. Savings. . Read more about the Consultant Corner tool in the HDFC SL in news section. and Investment. 2007 holds 72. 2009 Received PCQuest Best IT Implementation Award 2008 HDFC Standard Life received the PCQuest Best IT Implementation Award 2008 for Consultant Corner.45. which meet various customer needs such as Protection. Customers have the added advantage of customizing the Plans. 3. Awards and Accolades May.38 per cent of equity in the joint venture. and specialized training. training. efficient post-sale service. for unit-linked products. by adding optional benefits called riders. the company received the award for Wonders. HDFC Standard Life operates across more than 726 cities and towns of the country supported byits strong network of more than 1. HDFC Standard Life has won the PCQuest Best IT Implementation Award for two years consequently. has also helped its customers choose the product. licensing.

Laadli Media Award 2007 HDFC Standard Life received Laadli Media Award 2007 for its 'Big car' TV commercial. it won for the 'Papa' TV commercial. by Population First. which challenged the stereotype parents saving only for their son's education or daughter's wedding. The radio commercial Pata nahin chala touched several changes in life in the blink of an eye through an old man s perspective. Laadli Media Awards. It showed how a daughter wants to be more responsible towards her family and asks her dad to upgrade to a bigger car by offering him the extra money Required to buy the car. an NGO working on women's rights and social development. In 2006. instituted in 2007. without compromising on one s self-respect. TV ads. HDFC Standard Life received this award for two years consecutively.March. print. The company took a bold step by showing parents saving for their daughter's education abroad. and films. 2008 Silver Abby at Goafest 2008 HDFC Standard Life's radio spot for Pension Plans won a Silver Abby in the radio writing craft category at the Goafest 2008 organised by the Advertising Agencies Association of India (AAAI). 2008 . The objective was drive awareness and ask people to invest in a pension plan to live life to the fullest even after retirement. demonstrating Progressive thinking. articles. is given to professionals in print and electronic media and ad makers for gender sensitive news reports. March.

thus giving HDFC Standard Life the credit of bringing up one such glorious advertising and marketing moment in the last 60 years. by 4Ps Business and Marketing magazine. believability. 4th August 2008 HDFC Standard Life Launches Unit Linked Wealth Maximiser Plus 23rd July 2008 . HDFC Standard Life s Unit Linked Savings Plan advertisement was ranked 4th in terms of a combined score of ad awareness and brand recall and 3rd in terms of ad diagnostic scores (likeability. January. Mint s exclusive report. 2008 Sar Utha Ke Jiyo Among India s 60 Glorious Advertising Moments HDFC Standard Life s advertising slogan honoured as one of 60 Glorious Advertising & Marketing Moments' over the last 60 years in India. one of the leading private insurance companies in India. February. The award celebrates excellence in individual performance and highlights the quality achievements of extraordinary individuals in an era of global competition and expectations. received the QIMPRO Gold Standard Award 2007 in the business category at the 18th annual Qimpro Awards function.Unit Linked Savings Plan Tops Mint Best TV Ads Survey The Unit Linked Savings Plan advertisement of HDFC Standard Life. 2008 Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007 Mr Deepak M Satwalekar. enjoyment. for February 2008. and claim). Managing Director and CEO. The respondents were between 18 and 40 years. The magazine said that HDFC Standard Life is one of the first private insurers to break the ice using the idea of self respect (Sar Utha Ke Jiyo) instead of 'death' to convey its brand proposition. has topped Mint s Top Television Advertisement survey conducted. followed by others including ICCI Prudential. This was then. HDFC Standard Life. New voices in a makeover outlines the survey in detail.

HDFC Standard Life Launches SimpliLife. a Unit Linked Plan in Simplest Way 14th May 2008 HDFC Standard Life Declares Results for FY2007-08. New Business Premium Income grows by 63% 4th March 2008 HDFC Standard Life Expands its Reach with Inauguration of Mohali Branch 21st October 2007 HDFC Standard Life Announces Muthoot Capital Services as its Corporate Agency for Distribution of Life and Pension Products 7th May 2007 HDFC Standard Life expands its reach to smaller cities in Madhya Pradesh 15th February 2007 HDFC Standard Life expands it s reach in Vidarbha 16th May 2006 HDFC Standard Life records impressive growth 7th February 2006 HDFC Standard Life records impressive growth .

 We look out for a candidate who values Integrity  Has a zeal for Excellence  Is focused on Results  Is Self driven and Enthusiastic  Is a good Learner and Team Player  Is dedicated to Customer Satisfaction The Recruitment Process at HDFC SL HDFC SL recruitment process are as follows: .29th November 2005 HDFC Standard Life posts strong growth 16th August 2005 HDFC Standard Life grows faster than the private sector average 16th May 2005 HDFC Standard Life declares results for FY 2004-05 RECRUITMENT PROCESS The chief attributes HDFC SL looks out for in a candidate.

In the event of unfortunate demise of the policyholder during the policy tenure. New HDFC Standard Life policy Mumbai.Making an Application y y Ensure the information is clear and well organized. Demonstrate your skills/experience/responsibilities in the previous company Assessment Process y We conduct relevant assessments like psychometric tests and written exercises . Mid-cap Fund. The policyholder has the option to choose from five fund options . The accumulated value of the funds is received at the end of the policy term. HDFC Standard Life has launched a new product call d "Unit Linked Wealth Maximiser e Plus".15% stake in HDFC Standard Life to its British partner. Bond Opportunities Fund. The promoters of HDFC Standard Life have said also said that they will dilute stake through an IPO before 2009.these will be part of the selection process y The interview panel will ask questions which will assess your knowledge. plans IPO in '09 Mumbai. and Manager's Fund. with a minimum premium of Rs 1 lakh.10 per cent every year as long as the policy is not surrendered. HDFC Standard Life will pay the greater of the . HDFC Standard Life will offer regular loyalty units of 0. Conditions relating to offers of employment All offers are subject to: y y y Satisfactory medical clearance Satisfactory references Evidence of qualifications and previous employment testimonials FUTURE PLANS HDFC Standard Life. Large-cap Fund. This is a single premium investment cum protection plan. HDFC has booked a profit of around Rs 120 cr in a Rs 200 cr transaction involving sale of 7. You will also have your queries addressed. skills and attitude.Money Plus Fund.

The growth was primarily driven by the success of the company's initiative on structured sales processes based on customer needs and their assessments.859 crores as against Rs.´ Highlights of Financial Year 2007-08 y New Business Premium Income up by 63% to Rs. 2008. He also emphasised. 2. Our endeavour to provide high quality insurance and pension solutions to customers through quality pre sales advice. the best long-term solutions to take care of their insurance needs. The policy offers life insurance cover until the age of 99 years FINANCIAL PERFORMANCE HDFC Standard Life. 2. one of the leading private life insurance companies in India declared its annual results for the financial year ending March 31. 2.Sum Assured (less all applicable withdrawals) and the total fund value to the family members of the policyholder. The company generated New Business Premium Income of Rs. Total Premium Income is up by 70% at Rs. The growth was primarily driven by the success of the company¶s initiative on structured sales processes based on customer needs and their assessments. Mr. MD & CEO.685 crores. ³We believe that our success is a result of our efforts in giving customers. 2008. 4.685 crores in FY2007-08 registering a year-on-year growth of 63%. based on a sound need-based solutions approach. one of the leading private life insurance companies in India declared its annual results for the financial year ending March 31. Deepak Satwalekar. The company generated New Business Premium Income of Rs.856 crores in FY2006-07 y Alternate Channels including bancassurance has recorded an impressive growth of over 63% to contribute 41% to the Effective Premium Income (EPI) . HDFC Standard Life. and post-sales service has started to pay off. 2. HDFC Standard Life attributed this growth to the quality of life insurance solutions offered by the company and its increased geographical reach.685 crores in FY2007-08 registering a year-on-year growth of 63%.

´ added Mr. The cumulative sum assured for all policies issued upto March 31.859 crores.000. life insurance policies as well as pension products on a unit linked platform as also the conventional µwith profits¶ platform. Over 50% of the sum assured as on March 31. 2008. now that the regulatory disincentive has been removed with effect from April 1. The company s national relationships with large public and private sector banks have also helped it reach out to a larger number of customers across the country. The company plans to further strengthen these relationships through the introduction of products specially designed for this channel. ³We believe that we should be able to lengthen the maturity profile of our policy portfolio. . 87.45.y Group business funds under management have increased to Rs. Although there has been a slight dip from 89% to 86%. 2008 crossed Rs.000 crores. 4. 33. which reflects the balanced book between conventional and unit-linked business in the total portfolio of the company. both. we continue to have the highest persistency level in the industry. EPI is calculated by giving only a 10% value to a Single Premium policy and is an internationally accepted indicator of an insurance company¶s performance. is in respect of non unit-linked policies. registering a growth of 83% over FY2006-07 y y y The average premium has increased to Rs. The total premium income (including renewal premium) grew by 70% to touch a figure of Rs. Satwalekar. HDFC Standard Life offers. the structured sales process adopted by the company has paid rich dividends. High levels of persistency have resulted in higher level of renewal premiums. 959 crores. HDFC Standard Life tracks its New Business Premium on the basis of Effective Premium Income (EPI). 2008. In offering unit linked products. Over 30% of funds under management are in respect of non-linked business.000 Company products and services are now available in 726 cities and towns across the country Strength of Financial Consultants has increased to 1.

around 27-28 years old. 2007. As against the regulatory requirement of writing 18% of all policies in rural areas. is working on a lap top next to him ¤ ¦ ¢§ ¡ ¨ £¨ ¨ ¥ ¥   AL £ ¡ ¦¡ ¤ ¢ ¡ ¥£   N Daughter: ³Dad´. HDFC Standard Life has covered 51. Father is checking something inside the bonnet of an old small car. the company has covered over 9. 1.271 crores. Additionally.326 lives under the social sector category. Overall. The st ength of MDRT qualified members has gone up to 496 as on December 31. as against the requirement of 25.HDFC i t i i M t i l i t i ti t t t t it i t t l i i t i t it M t t i l t t i i ti t i t t t i t t iti it Fi it i lC t lt t t lt t t j Fi i l C Doll li i t ti i Milli Round Tabl (MDRT) Club. His daughter. 470 crores of equity to take the paid share capital as on March -up 2008 to Rs. during 2007-08.000 policies accounting for 23% of all policies issued during 2007-08. A V N AN Film opens in the compound of a house. HDFC Standard Life has issued over 217. Dad: ³Hmmm«´ . shareholdes have r contributed additional Rs. 2008. Father: ³Bolo´ Daughter: ³Nayi car lene mein hee bhalaai hai. To meet the demands arising from the company¶s rapid growth.000 lives during the year ending March 31.59.´ Dad nods in agreement without looking up.000 lives.

Mere dad ki beti. walks towards him with swinging hand in air and says. Dad: ³Huh. Badi kyon?´ Daughter.Daughter continues affirmatively as she signs on a cheque. Dad: ³Aur Extra paise dad dega kya?´ Daughter replies firmly: ³Nahi.´ Dad looks at her and asks.´ .´ Dad goes back to checking the engine and says in a light hearted tone. Daughter: ³Kyonki Toolika Sharma chahti hai uske dad style se travel kare. Daughter: ³Aur wo bhi badi wali.

Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants. BOARD MEMBERS Brief profile of the Board of Directors  Mr. He joined HDFC Limited in a senior management position in 1978. Keki M Mistry joined the Board of Directors of the Company in December. . Gautam R Divan is a practising Chartered Accountant and is a Fellow of the Institute of Chartered Accountants of India.  Mr. Keith N Skeoch is currently the Chief Executive in Standard Life Investments Limited and is responsible for overseeing Investment Process & Chief Executive Officer Function.4. He joined HDFC Limited in 1981 and became an Executive Director in 1993. Asia Pacific Development. 2000. Deepak S Parekh is the Chairman of the Company. Crombie is a fellow of the Faculty of Actuaries in Scotland. Skeoch was working with M/s.  Mr. He was appointed as the Group Chief Executive of the Standard Life Group in March 2004. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales). Campbell joined the Board of Directors in November 2005. Skeoch joined the Board of Directors in November 2005. He is currently the Managing Director of HDFC Limited. Alexander M Crombie joined the Board of Directors of the Company in April. Prior to this. Mr. Divan was the Former Chairman and Managing Committee Member of Midsnell Group International. Mr. Director of Controls and Strategy HSBS Securities and Managing Director International Equities. James Capel & Co. He was appointed as its Managing Directo in r November. Marcia D Campbell is currently the Group Operations Director in the Standard Life group and is responsible for Group Operations. Mr. Mr. holding the positions of UK Economist. Strategy & Planning.  Ms. Corporate Responsibility and Shared Services Centre.  Mr. 2002. Mr. Chief Economist. Mr. He is the Chief Executive Officer of HDFC Limited. He is also the Executive Chairman of Housing Development Finance Corporation Limited (HDFC Limited).  Mr. He has been with the Standard Life Group for 34 years holding various senior management positions. an International Association of Independent Accounting Firms and has authored several papers of professional interest. He was also responsible for Economic and Investment Strategy research produced on a worldwide basis. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Executive Chairman in 1993. Ms. Executive Director. 2000.

in 1977. 2000. AREAS OF OPERATION Helping Indians experience the joy of home ownership. Bombay and a Masters Degree in Business Administration from The American University. Mr. .  Mr. Mr. Washington DC. Pant has an MBA from The Wharton School and BE (Honours) from Birla Institute of Technology and Sciences. Boston. financial and taxation planning of individuals and limited companies and also has substantial experience in structuring overseas investments to and from India. USA. is a graduate in law and holds a Master's degree in economics from Delhi University. Ranjan Pant is a global Management Consultant advising CEO/Boards on Strategy and Change Management. Karnad is the Executive director of HDFC Limited.  Ms. He was also Director. Ravi Narain is the Managing Director & CEO of National Stock Exchange of India Limited. The road to success is a tough and challenging journey in the dark where only obstacles light the path. Mr. Mr. Renu S. success on a terrain like this is not without a solution. 5. he was the Managing Director of HDFC Limited since 1993. Ravi Narain was a member of the core team to set-up the Securities & Exchange Board of India (SEBI) and is also associated with various committees of SEBI and the Reserve Bank of India (RBI). As we found out nearly three decades ago. Prior to this.  Mr. She has been employed with HDFC Limited since 1978 and was appointed as the Executive Director in 2000. Corporate Business Development at General Electric headquarters in Fairfield. She is responsible for overseeing all aspects of lending operations of HDFC Limited. Deepak M Satwalekar is the Managing Director and CEO of the Company since November. Inc.. However. until 2002 was a Partner & Vice -President at Bain & Company. Satwalekar obtained a Bachelors Degree in Technology from the Indian Institute of Technology. where he led the worldwide Utility Practice. Pant.Divan has wide experience in auditing accounts of large public limited c ompanies and nationalised banks.  Mr.

the Sponsor of Zurich India Mutual Fund.25. AMC is a joint venture between housing finance giant HDFC and British investment firm Standard Life Investments Limited. with its registered office in Mumbai. the fund has assets of Rs. as part of the RBI's liberalisation of the Indian Banking Industry in 1994. has been to enhance residential housing stock and promote home ownership. We also offer specialized financial services to our customer base through partnerships with some of the best financial institutions worldwide. Today.892 crores under management. the skill to understand your clientele and the desire to give them your best. from the beginning. our offerings range from hassle-free home loans and deposit products. to property related services and a training facility. All you need is the courage to innovate. including the schemes launched from time to time. AMC had entered into an agreement with ZIC to acquire the asset management business. HDFC Asset Management Company Limited (AMC) functions as an Asset Management company for the HDFC mutual fund. As of Aug 2006.the solution for success is customer satisfaction. IN 2003. The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1 995. all the schemes of Zurich Mutual . The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited'. following a decision by the Zurich Insurance Company (ZIC). stand testimony to our success. It conducts the operations of the Mutual Fund and manages assets of the schemes. Our objective. to divest its asset management business in India. nearly three million satisfied customers whose dream we helped realise. Now. Consequently. HDFC Mutual Fund has been one of the best performing mutual funds in the last few years.

From understanding t e requirement to organizing t e site visits to completion of transaction. is a leading stock broking company in the country. a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates. and is designed to meet the requirements of everyone from a beginner to a savvy and well-informed trader. H FC R ii H FC i i W R i lt i l ll t 5000 i fi illi l t t illi i f f i i . investment guidance. news & views. serving a diverse customer base of institutional and retail investors. e provi e personalized attention to t e individuals and corporates in t eir At H FC Realt . ilit ti it 30 i ti B i . convenience and hassle-free trading tools. Our website will support you with the highest standards of service. S lli L i f ti l / Commerci l ropert . and derivatives in NSE.com provides investors a robust platform to trade in Equities in NSE and BSE . assle free and convenient. Our content offers financial information. Our research team tracks the economy. analysis. W i t i i i l i i fi t f t i I i I l f i i . HDFCsec. industries and companies to provide you the latest information and analysis. . Balanced Funds and Debt Funds. tit ti ili i f H FC.Fund in India had been transferred to HDFC mutual fund and renamed as HDFC schemes. e make every effort to make t e process of acquiring a property. Here is a list of mutual funds of HDFC which includes Equity Funds. process of identif ing properties. HDFC Securities.

and it was voted a 5 star life and pensions provider at the Financial Adviser Service Awards for the last 10 years running . investment. 2004.  Presented the Dream Home award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards. 2005 and 2006 at the Money Marketing Awards. 36.00.  HDFC is India s leading housing finance institution and has helped build more than 23. and to Standard Life . outstanding deposits stood at Rs. 7. pension. Standard Life Group (Standard Life plc and its subsidiaries)  The Standard Life group has been looking after the financial needs of customers for over 180 years  It currently has a customer base of around 7 million people who rely on the company for their insurance.000 Cr. and is rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's  Standard Life was awarded the 'Best Pension Provider' in 2004.840 crores. banking and health-care needs  Its investment manager currently administers £125 billion in assets  It is a leading pensions provider in the UK.000 houses since its incorporation in 1977.  As at March 31. The depositor base now stands at around 1 million depositors. The '5 Star' accolade has also been awarded to Standard Life Investments for the last 10 years.MARKET SHARE HDFC Limited.  In Financial Year 2003-04 its assets under management crossed Rs.  Rated AAA by CRISIL and ICRA for the 10th consecutive year  Stable and experienced management  High service standards  Awarded The Economic Times Corporate Citizen of the year Award for its long-standing commitment to community development.

OUR VALUES Values that we observe while we work: Integrity Innovation Customer centric People Care One for all and all for ones¼ Teamwork Joy and Simplicity       . corporate or individual. 'The most obvious choice for all'. which means that we are the most trusted company. while stressing on the quality of proposals  Quick roll out of Products  Efficiency of Operations  Meet Social & Rural sector obligations OUR VISION 'The most successful and admired life insurance company. the easiest to deal with. and set the standards in the industry¶. offer the best value for money. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006 OBJECTIVE  Focus on the productivity of each consultant.Bank since its inception in 1998.

In 1995-96. and Life Insurance Corporation (International).K. Mauritius and United Kingdom. Compounded annual growth rate for Life insurance business has been 19. LIC's claims settlement ratio at 95 per cent and GIC's at 74 per cent are higher than that of global average of 40 per cent. LIC had a total income from premium and investments of $ 5 Billion while GIC recorded a net premium of $ 1.22 per cent per annum y General Insurance Corporation of India (GIC) . Ken -India Assurance Company Limited.7 per cent growth in the rest of Asia (3. LIC has even provided insurance cover to five million people living below the poverty line. Hyderabad.4 per cent in Europe.59 lakh active agents spread over the country. LIC has 5. E. with 50 per cent subsidy in the premium rates. Chennai.3 Billion. The Corporation also transacts business abroad and has offices in Fiji. During the last 15 years.MAJOR COMPETITORS OF HDFC STANDARD LIFE y Life Insurance Corporation of India (LIC) Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the message of life insurance in the country and mobilise people¶s savings for nation-building activities.048 branch offices. It has also entered into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pension policies in U. operates through 100 divisional offices in important cities and 2. Kanpur and Bhopal. namely. Nairobi. Delhi. Kuala Lumpur. LIC is associated with joint ventures abroad in the field of insurance. Bahrain.4 per cent in the US). LIC with its central office in Mumbai and seven zonal offices at Mumbai. United Oriental Assurance Company Limited.C. 1. LIC's income grew at a healthy average of 10 per cent as against the industry's 6. Calcutta.

LIFE INSURANCE COMPANIES y Max New York Life Insurance Co. namely. (iii) Oriental Insurance Company Limited. a global expert in life insurance. there are more than 400 product combinations to choose from. (i) National Insurance Company Limited. (ii) New India Assurance Company Limited. a multi-business corporate.Max India Limited. and (iv) United India Insurance Company Limited. Besides the domestic market. With effect from 1 January 1973 the erstwhile 107 Indian and foreign insurers which were operating in the country prior to nationalization. ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank. with effect from Dec'2000. Max New York Life Insurance Company Limited is a joint venture that brings together two large forces . (However. the industry is presently operating in 17 countries directly through branches or agencies and in 14 countries through subsidiary and associate companies. together with New York Life International. a leading international financial services group . With their various Products and Riders. They have a national presence with a network of 57 offices in 37 cities across India. y ICICI Prudential Life Insurance Company Ltd.The general insurance industry in India was nationalized and a government company known as General Insurance Corporation of India (GIC) was formed by the Central Government in November 1972. were grouped into four operating companies. a premier financial powerhouse and prudential plc. these subsidiaries have been de-linked from the parent company and made as independent insurance companies). All the above four subsidiaries of GIC operate all over the country competing with one another and underwriting various classes of general insurance business except for aviation insurance of national airlines and crop insurance which is handled by the GIC. Ltd.

and has two Regional Offices.000 advisors. Ltd. Royal Sundaram Alliance Insurance Company Limited The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram Finance Limited started its operations from March 2001. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Ltd. The company has a network of about 56.  AMP SANMAR Assurance Company Ltd. Ltd. is a joint venture between Kotak Mahindra Bank Ltd. Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun Life financial Services of Canada.  SBI Life Insurance Company Limited  ING Vysya Life Insurance Company Private Limited  Allianz Bajaj Life Insurance Company Ltd.  Dabur CGU Life Insurance Company Pvt. y Birla Sun Life Insurance Company Ltd. and Old Mutual plc. The company is Head Quartered at Chennai.  Metlife India Insurance Company Pvt.headquartered in the United Kingdom. as well as 7 banc assurance and 150 corporate agent tie-ups.  Tata AIG Life Insurance Company Ltd. y Om Kotak Mahindra Life Insurance Co. . one at Mumbai and another one at New Delhi. Kotak Mahindra Old Mutual Life Insurance Ltd. (KMBL). GENERAL INSURANCE 1.

Kolkata and Vizag. 3. while Fairfax Financial Holdings is a diversified financial corporate engaged in general insurance. reinsurance.4 lakh policies in its first calendar year of operations. Both enjoy a reputation of expertise. Kochi. AG. Mumbai. Coimbatore. Ahmedabad.2. The company has a pan-Indian presence with offices in Chennai. Chola-MS commenced operations in October 2002 and has issued more than 1. Indore. 4. ICICI Lombard General Insurance Company Limited ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Lombard General Insurance Company received regulatory approvals to commence general insurance business in August 2001. Bajaj Allianz General Insurance Company Limited Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany. Bajaj Auto holds 74% and the remaining 26% is held by Allianz. The Company has an authorized and paid up capital of Rs 110 crores. Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint venture of the Murugappa Group & Mitsui Sumitomo. is one of Canada's oldest property and casualty insurers. . Bangalore. Germany. Pune. 2001 to conduct General Insurance business (including Health Insurance business) in India. Chandigarh. insurance claims management and investment management. Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration (R3) on May 2nd. Delhi. Cholamandalam General Insurance Company Ltd. Lombard Canada Ltd. Hyderabad. a group company of Fairfax Financial Holdings Limited. stability and strength. ICICI Bank is India's second largest bank.

Tata AIG combines the strength and integrity of the Tata Group with AIG's international expertise and financial strength. Ltd. Reliance General Insurance Company Limited. is a joint venture company. HDFC-Chubb General Insurance Co. The Tata Group holds 74 per cent stake in the two insurance ventures while AIG holds the balance 26 per cent stake. Export Credit Guarantee Corporation Ltd. TATA AIG General Insurance Company Ltd. formed from the Tata Group and American International Group. 7. as well as several specialized financial lines. home. 6.5. property and casualty. travel. energy. Tata AIG General Insurance Company. . personal accident. offers the complete range of insurance for automobile. marine. IFFCO Tokio General Insurance Co. Inc. 9. which started its operations in India on January 22. 2001. Ltd 8. (AIG). Tata AIG General Insurance Company Ltd.

percentage Bajaj Allianz 20% S I Life 7% ING vyasya Kotak life 2% 4% Max ne york MetLife 3% 1% Aviva 1%  Sh Of Co p ni s In Insu n Secto In Indi © $#" !  Reliance 2% Tata AIG 2% Birla sunlife 11%  FC S dard life 10% Others 10% ICICI Prude 27  © % &  ©  © .

000 lives year ending March 31. 2. Products of HDFC standard life insurance  Individual  Group  Social . Range of Solutions We have a range of individual and group solutions. for the year ending March 31.685 crores. 2008. hdfc standard life has the financial expertise required to manage your long-term investments safely and efficiently. Our group solutions have been designed to offer you complete flexibility combined with a low charging structure. 4.59. The company has covered over 9.859 crores and new business premium income stood at Rs.STRENGHS Financial Expertise As a joint venture of leading financial services groups. Track Record so far Our gross premium income. 2008 stood at Rs. which can be easily customised to specific needs.

These will help secure your future as well as the future of your family. Unit Linked Young Star Plus. Keeping this in mind. Our Savings range includes Endowment Assurance Plan. Our Protection range includes our Term Assurance Plan & Loan Cover Term Assurance Plan. . Enhanced Unit Life Linked Protection Endowment II. Children's Plus Plan. These plans offer valuable peace of mind at a small price. Star. Investment Plans Our Single Premium Whole Of Life plan is well suited to meet your long term investment needs. we have a varied range of Products that you can choose from to suit all your needs. Unit Linked Endowment Unit Linked Plus. Unit Linked Young Star Plus II. Money Linked Young Back. Unit Linked Endowment.Individual Products We at HDFC Standard Life realize that not everyone has the same kind of needs. Unit Linked Pension Plus Savings Plans Our Savings Plans offer you flexible options to build savings for your future needs such as buying a dream home or fulfilling your children immediate and future needs. disability or sickness. Unit II. Protection Plans You can protect your family against the loss of your income or the burden of a loan in the event o f your unfortunate demise. Unit Linked Pension. We provide you with attractive long term returns through regular bonuses. Our Pension range includes our Personal Pension Plan. Pension Plans Our Pension Plans help you secure your financial independence even after retirement.

a lump sum is paid to those member beneficiaries to help meet some of the immediate financial needs following their loss. We offer different products for different needs of employers ranging from term insurance plans for pure protection to voluntary plans such as superannuation and le encashment. ave We now offer the following group products to our esteemed corporate clients: y y y Group Term Insurance Group Variable Term Insurance Group Unit-Linked Plan An investment solution that provides funding vehicle to manage corpuses with Gratuity. Eligibility y y y Members of the development agency and their spouses with: Minimum age at the start of the policy 18 years last birthday Maximum age at the start of policy 50 years last birthday Employees of the Development Agency are not eligible to join the group. On the death of any member of the group insured during the year of cover.Group Products One-stop shop for employee-benefit solutions HDFC Standard Life has the most comprehensive list of products for progressive employers who wish to provide the best and most innovative employee benefit solutions to their employees. Defined Benefit or Defined Contribution Superannuation or Leave Encashment schemes of your company Also suitable for other employee benefit schemes such as salary saving schemes and wealth management schemes Social Product Development insurance plan Development Insurance plan is an insurance plan which provides life cover to members of a Development Agency for a term of one year. The group to be covered is only eligible if it contains more than 500 members. .

These tasks would include: y y y y Submission of member data in a specified computer format Collection of premiums from group members Recording changes in the details of group members Disbursement of claim payments and the mortality rebate (if any) to group members. the Development Agency may charge a Rs. an additional lump sum will be paid equal to half the sum assured. Cover will not start until the premium and all the member information in our specified format has been received The premium rate is Rs. Benefits On the death of each member covered by the policy during the year of cover a lump sum equal to the sum assured will be paid to their beneficiaries or legal heirs. These tasks would be in addition to the usual duties of a policyholder such as: y y y y Payment of premiums Reporting of claims Keeping policy holder information up to date Training and support will be available to give guidance on how to complete the tasks appropriately. . 10 administration fee to their members. 25 per Rs. HDFC Standard Life will be passing certain administrative tasks onto the Development Agency. There are no benefits paid at the end of the year of cover and there is no surrender value available at any time. per member. 10. The role of the Development Agency Due to the nature of the groups covered. By passing on these tasks the premium charged can be lower. Since these additional tasks will impose a burden on the Development Agency.000 of lump sum. Where the death is as a result of an accident.Premium Payments The premium to be paid will be quoted per member in the group and will be the same for all members of the group. The premium can only be paid by the Development Agency as a single lump sum that includes all premiums for the group to be covered.

either directly or indirectly. Very less charges on ULIP plans as compare to other insurance players . he shall be liable to payment of a fine which may extend to rupees five hundred S. except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer If any person fails to comply with sub regulation (previous point) above.6 cr AFYP on 2008. WEAKNESS y Many competitors in the market of same products by the title and difference in premium and offerings. Large number of young workforce . any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy. 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.The 40K agents which are very selectively chosen . Paidup capital of RS 1900 cr as on 2008 which shows company dependability. 1938 states No person shall allow or offer to allow.O.Prohibition of rebates Section 41 of the Insurance Act. Service quality which is the crux of their mission.T ANALYSIS OF HDFC SLIC INDIA INSURANCE STRENGTHS y y y y y y y Brand Image . . 1153. Has tie up with banks like HDFC BANK. Business Experience and Innovative products.W. nor shall any person taking out or renewing or continuing a policy accept any rebate..

Lacking in advertistment due to which they are not able to cover a large area or large no of customer. Strong economic growth with increase in affluence and rising risk awareness leading to rapid growth in the Insurance sector. Per Capita life insurance premium in India in 2004 was $16 as compared to the world average of $ 292. Not focusing on consumer awareness mainly concentrating on personal selling . Nearly 70% of the Indian population is without Life . More focusing in urban areas not touching rural area which has a very good potential market for insurance sector. idbi fortis insurance . and Non-Life insurance. LIC has woken up from sleep and is following competitive strategies.) Current govt. Very less network branches due to which its difficult for customer to make payment easily. OPPORTUNITY y y y y y Huge market is literally untapped. .out of estimated 320 millions insurable markets only 20% of the population is insured. policies do not encourage gross domestic savings. its huge surplus in life fund gives a capability to lodge price war. THREATS y y y y Players like ICICI and birla sunlife offer same plans with low premiums. Health .y y y y y Sustainable to risk associated with investments in money market. if the tax liability of the sevice class rises. the customer will have little money to invest. an estimated market potential of approximately $ 15 billion. Entry of many other private companies with equally strong experience and financial strength of foreign partners making the competition difficult and saturating the urban markets (example . bharti axa insurance and more. Health insurance and pension schemes.

RESEARCH METHODOLOGY DESCRIPTIVE RESEARCH DESIGN The research design adopted in this study is DESCRIPTIVE RESEARCH DESIGN. The researcher used this research design to find out the respondents attitude and opin about ion products offered. It includes survey and fact finding enquiries of different kinds. SAMPLE SIZE A sample of 400 people will be taken for the survey.. The geographical sampling unit under study has covered the area of chandigarh . The required data collected through questionnaire. The researcher selects the people according to their convenient. It is the non probability sampling is that sampling procedures does not any basis for estimating the probability that each item in the population has of included in the sample. A descriptive research design is the one which is description of the state of affairs as it exists at present. Village etc. SAMPLING DESIGN A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or procedures the researcher would adopt in selecting items for the sample. And internet is used as secondary source. The primary source consists of the data analyzed from questionnaire and interaction ith the user at that time only. SAMPLING The researcher adopted convenience sampling. The researcher has no control over the variables. SAMPLING AREA The sampling unit may e a Geographical one such as state. District. DATA COLLECTION The information required for our project as collect mainly from the primary sources and even from secondary sources. DATA COLLECTION METHOD ( ( ' .

Analysis and Interpretation 1.  30% of the respondents are either not having any Insurance policy at present or their policy is already matured.Data is collected through questionnaire schedule method. You have Insurance with which of the following companies: Company Name LIC HDFC SLIC ICICI PRUDENTIAL SBI LIFE RELIANCE LIFE INSURANCE BIRLA SUN LIFE MET LIFE ANY OTHER % Share of Respondents 78 2 7 7 3 1 1 1 Interpretation .  And at present 100% of the respondents are with the view that Insurance is a tool to protect your family 2. CONTACT METHOD Face to Face Findings. Do you have an Insurance Policy:Response Yes No % Share 70 30 Interpretation  Of the sample size of 400 surveyed respondents 70% of the respondents are having Insurance policy.

What features in a Life Insurance attracts you:Feature MONEY BACK GUARANTEE LARGER RISK COVERAGE EASY ACCESS TO AGENTS LOW PREMIUM COMPANY REPUTATION % Share 15 37 7 30 11 Interpretation  Majority of the respondent (37%) found Larger risk coverance as the most attracted feature of the all. . What benefits do you perceive from Life Insurance:BENEFIT COVER FUTURE UNCERTAINITY TAX DEDUCTIONS FUTURE INVESTMENT FOR FAMILY NEED ANY OTHER % Share 25 15 20 25 5 Interpretation  55% of the respondents believe that covering future uncertainty is the biggest benefit of an insurance policy.  Whereas. 78% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1by that percent of respondents 3. 20% and 25% of them believe that the other benefits are Tax deduction and future investments respectively 4.

 And 74% of the respondents have perception of Insurance being a tax saving device. Which Insurance Policy do you have:Policy type Life Insurance Non Life Insurance Both % Share 75 25 45 Interpretation  75% of the respondents have Life Insurance Policy while 45% have both.5. What is your perception about life insurance: Response A saving tool A tax saving tool A tool to protect your family % Share 81 74 50 Interpretation  81% of the respondents have perception of Insurance being a saving tool.  But 100% of the respondents are with the view that Insurance is a tool to protect your family 7. In which process do you buy the insurance policy: Buying Process Customer approaching to Agent/company Agent/company approaching to Customer % Share 45 55 . (The % is calculated out of 280 positive response) 6.

Are you satisfied with the service provided by the Insurance Agent: Response Satisfied Not satisfied No response % Share 45 55 0 Interpretation  45% of the respondents are satisfied with their existing service agent. 55.  55% of the respondents are not satisfied with their existing insurance agent.  All of those who have taken a policy have responded.Interpretation  45% of the respondents approached the Insurance Company / Agent.  Whereas. Are you satisfied with your Insurance Policy: Response Satisfied Not satisfied No response % Share 60 40 0 Interpretation  60 % of the respondent were satisfied with their insurance policy  40 % were not satisfied with their insurance policy  All the respondents gave response to this question 9.  10.5% of the respondents were approached by the Company /Agent 8. Do you pay income tax? Response Yes No % Share 100 0 .

which is the highest among all Investment.  Whereas. What do you intend to get on your investments? Intention Return on investment Security Tax benefits % Share 100 90 70 Interpretation  100% of the respondents intent to gain saving and returns from their investment. 70% of the respondent¶s intent to gain tax benefits from their investments .25% of the respondents do their tax saving by investing in NSC.  90% of the respondent¶s intent to gain security from their investments. This shows that most people for getting taxes benefits invest in LIC.  32.25% of the respondents to their tax saving by investing in bonds 12.  33. In which investment policies do you invest to save your tax? Investment Scheme LIC NSC Bonds PPF PF % share 51 33 32 25 21 Interpretation  51% of the respondents save their tax by investing in LIC.Interpretation Out of 400 respondents all are paying tax 11.

The company should try to expand & build up its infrastructure because there is a large potential for insurance in India. Because the entrance of private players will increase the competition and it would be a tough task to secure a good position in market 3. importance. As the people think that insurance is a tool to protect their family & a tax saving device. 2.Company should come up with its branch in Chennai.Since HDFC STANDARD LIFE INSURANCE LTD is leading with several companies¶ policies it should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship.13. What do you look while buying an Insurance Policy? Reason Company Brand Relation with agent Good plan % Share 50 70 90 Interpretation  50% of the respondents buy insurance because of company brand  70% of the respondents buy insurance because of the relation with the agents  And 90% of the respondents buy insurance because of good plan. With the objective and goals to meet the demands & expectations of the public. They are aware of the fact & realizing its. . Conclusion 1.

As seen from the survey that at present 70% of the customer are having insurance policy out of which 87. Do you have an Insurance Policy:… Yes … No 2.4. But intend they should provide good products and services. What features in a Life Insurance attracts you:… MONEY BACK GUARANTEE … LARGER RISK COVERAGE … EASY ACCESS TO AGENTS … LOW PREMIUM . What benefits do you perceive from Life Insurance:… COVER FUTURE UNCERTAINITY … TAX DEDUCTIONS … FUTURE INVESTMENT … FOR FAMILY NEED … ANY OTHER 4. So it can be a good potential for the company and they should make an attempt to trap these customers.43% of the customer is even ready to go for insurance if a service provider away from their home is providing it. The company should try to convince these customers and get them in its favor QUESTIONNAIRE 1. 5.5% of the customer are planning for new investments. You have Insurance with which of the following companies: … LIC … HDFC SLIC … ICICI PRUDENTIAL … SBI LIFE … RELIANCE LIFE INSURANCE … BIRLA SUN LIFE … MET LIFE … ANY OTHER 3.

Are you satisfied with your Insurance Policy: … Satisfied … Not satisfied … No response 9. What do you intend to get on your investments? … Return on investment … Security … Tax benefits 13. Are you satisfied with the service provided by the Insurance Agent: … Satisfied … Not satisfied … No response 10. What is your perception about life insurance: … A saving tool … A tax saving tool … A tool to protect your family 7. In which investment policies do you invest to save your tax? … LIC … NSC … Bonds … PPF … PF 12. In which process do you buy the insurance policy: … Customer approaching to Agent/company … Agent/company approaching to Customer 8. Do you pay income tax? … Yes … No 11. Which Insurance Policy do you have:… Life Insurance … Non Life Insurance 6. What do you look while buying an Insurance Policy? … Company Brand … Relation with agent … Good plan PERSONAL INFORMATION : Name: Age: .… COMPANY REPUTATION 5.

3 to 5 Lac … d. Above 10 Lac .com .Occupation: … a.google. IC-23  Business Research Method by ICFAI Center for Management and Research  Business Research Method by Donald R.com www. Service … b.hdfcslic.insuranceworld.org www. 5 to 7 Lac … e. 2009-10  Principles of Life Assurance.scribd. Shchindler  Websites:       www.com www. Below 2 Lac … b. Retired Income Level (per annum): … a. References  IRDA Annual Report. Self employed … d.irdaindia.co. 7 to 10 Lac … f.in www. Business … c. Cooper and Pamela S. 2 to 3 Lac … c.findarticles.com www.