SUMMER INTERNSHIP PROJECT

(SIP)

A REPORT ON FUNDAMENTAL ANALYSIS OF TAXJEEVAN

CONSULTANCY

Submitted in partial fulfillment for the award of the degree of Master of Management
Studies
(MMS) (University of Mumbai/AICTE)

Submitted By

Karishma Dubey

Roll No: 174

Under the Guidance of

Prof. KV RAM

2019-2021
 CERTIFICATE

This is to certify that project titled A REPORT ON FUNDAMENTAL ANALYSIS OF

TAXJEEVAN CONSULTANCY is successfully completed by Ms. Karishma Dubeyduring the 1st
Year, in partial fulfillment of the Master’s Degree in Management Studies recognized by the
University of Mumbai for the academic year 2019-2021.

This project work is original and not submitted earlier for the award of any degree Diploma or
associate ship of any University/Institution.

Name: Karishma Dubey

Date: (Signature of the Faculty Mentor)

2
 DECLARATION

I hereby declare that this Project submitted by me to the Vivekananda Education Society Institute of
Management Studies and Research is a Bonafide work undertaken by me and it is not submitted to
any other University or Institution for the award of any degree diploma certificate or Published any
time before.

Name: Karishma Dubey

Roll No: 174 (Signature of the Student)

3
 ACKNOWLEDGEMENT
I would like to express my profound gratitude to all those who have been instrumental in the
preparation of my project report. To start with, I would like to thank TAXJEEVAN
CONSULTSNCY for providing me with the opportunity to undertake this internship study and
allowing me to explore the industry which was entirely new to me and which will surely prove to
be very beneficial to me in my future assignments, my studies and my career ahead.

I wish to place on records, my deep sense of gratitude and sincere appreciation to my company
guide, Mr. Harsh Behal who suggested and helped me in preparing the frame work of the project. I
would also like to thank him for his continuous support, advice and encouragement, without which
this report could never have been completed.

I am deeply grateful, to my faculty guide Prof. K V Ram for his valuable suggestions, comments,
feedback and support throughout the internship. A special thanks to all other officials as well. All of
them have been very kind to help whenever needed. I am highly grateful to Vivekanand Education
Society’s Institute of Management Studies &Research for helping me get such a wonderful
experience and know the corporate world better.

Last but not the least; I would like to take the opportunity to thank my family for the immense
support at each and every aspect of my life.

(Signature of the Student)

4
 Table of Contents

1. EXECUTIVE SUMMARY……………………………………………………………………..…6
2. INDUSTRY ANALYSIS…………………………………………………………………………..7
a) Size of the Industry……………………………………………………………..…………………...9
b) Major players in the Industry………………………………………………………………………10
c) Market Share of Major Players ……………………………………………………………………11
d) Challenges Faced by Industry ……………………………………………..………………………13
e) Government regulations……………………………………………………………………………14
3. ABOUT TAXJEEVAN CONSULTANCY………………………………………..…………….17
a) Brief of Company Vision and Mission…………………………………………...………………..17
b) Product and Services………………………………………………………….……………………18
c) Position in the industry……………………………………………………………………………..26
d) Stakeholder details……………………………………………………………….…………………27
e) SWOT Analysis of Company…………………………………………………………….………....28
4. ON THE JOB TRAINING……...………….……………………………………………………..30
a) Key Result Area…………………………………………………………………………………….30
b) Target Assigned………………………………………………………………………………….….31
c) Target Achieved………………………………………………………………………….………….32
d) Technical and Soft Skill Acquire …………………………………………………………………33
5. RESEARCH AND CHALLENGES FACED BY THE COMPANY ………………………...…34
a) Problem Identification……………………………………………………………………………….34
b) Literature Review ……………………………………………………………………….…………..36
c) Limitation and Scope………………………………………………………………..………………38
6. CONCLUSION AND RECOMMENDATION……………………………………………..........39
a) Conclusion…………………………………………………………………………………………...39
b) Recommendation……………………………………………………………………………...…..…40
c) Reference……………………………………………………………………………...…..…………40

5
 EXECUTIVE SUMMARY

As a part of the MBA curriculum, I did my internship at Taxjeevan Consultancy. As being new to
the practical and corporate world, every hour spent in the internship was a new learning and
experience. The report here is regarding my task performed in the company for the period of 9
weeks starting 4th May’2020.

During this span of time the work assigned to us was to recognize and analyze the target group of
the Insurance sector. It was also to understand the basics of insurance and its market.

Also moving towards advertisements and promotion as it has a major role in the summer internship
program we worked on advertisements in order to understand their objective and targeting of them..

6
2.INDUSTRY ANALYSIS
Indian financial services comprises of money market, insurance market capital market, pension
fund and market forex market. Money Market deals with short term funds and instrument.
Capital Market deals with long term funds and instrument whereas Insurances Market deals
with insurances product and Pension Fund Market deals with pension product and the Forex
Market deals with foreign currency funds and instruments. This market segments are regulated
but the regulators. Money market in been regulated RBI Insurances market is regulated by
IRDA Capital market is regulated by SEBI. Pension market is regulated by PFRDA and Forex
market is regulated by RBI

Component of Indian Financial System

The Indian financial system is a way to collect money from the people who have and distribute
it to those who can use it at their best. Efficient allocation of resources is done by a financial
system that distribute money that yields the best return to them.

The financial system comprises of product and services provided by financial institution which
includes pension funds, insurance, banks, organized exchanges. They create financial
instruments like bonds and stock, pay interest on deposit, lends money to the borrowers and
they create the payment system of modern economies

7
Features of Financial system

 It plays an important role in economic development

 It act as a links between investor and saver
 It helps in Capital formation
 It helps in Allocation of risk
 It is used for Expansion of financial market
 It helps in encouraging both investment and saving.

8
 2.1 Size of the Industry
The insurance industry is the backbone of risk management in the country. The Indian
insurance industry’s beginning dates back to the nineteenth century. In 1818, Europeans started the
Eastern Life Insurance Company in Kolkata (Calcutta) to serve their community exclusively.
Colonial masters with racial prejudice have unfairly characterized the age and premium of the
Indians.. Indians desperately wanted Indian insurance companies to put their foot on the market.
Bombay Mutual Life Assurance Society, which began in 1870, was the first Indian insurance
company to cover the lives of Indians at normal rates. Triton Insurance Company Ltd in the year
1850 is the first general insurance company. Gradually insurance business fledged into a huge
sector boosting the economy of India. Only during the early years of twentieth century new
companies started mushrooming in India. In order to regulate these insurance companies, Life
Insurance Companies Act and Provident Fund Act were passed in 1912. The evolution of the
insurance industry has gone through three phases: pre-nationalization, nationalization and
privatization.

The insurance industry was nationalized only after the passing of the Life Insurance
Corporation Act of 1956. There were more than two hundred insurance companies of Indian and
European origin. Even after nationalization, government insurance companies did not make any
profits. Privatization was the preferred solution for effective distribution and implementation of
marketing strategies. With privatization, the insurance industry almost changed overnight.
Competition has forced suppliers to advertise their products effectively. Once the gates were opened
to private players, the insurance industry improved remarkably. In addition to safeguarding lives
and property, insurance companies have also offered enormous job opportunities.

Privatization has helped to increase the efficiency of insurance business. Some of the major
private players in the Indian market are ICICI Prudential, Bajaj Allainz Life Insurance, Tata AIG
life, Kotak Life Insurance, HDFC Standard Life, Reliance Life, ICICI Lombard etc. This
millennium marked a dramatic change in the administration of insurance with the introduction of
computers. The Internet has made insurance business more accessible and user-friendly. Now you
can buy the policy of your choice by sitting at home. The biggest benefit of online purchases is that
you can compare life insurance policies offered by different companies on a single website. E India
Insurance is a combination of the Internet and insurance revolutions in India. Juxtaposing modern
times with the colonial era, we are seeing rapid growth prospects for the insurance industry.
According to Insurance Regulatory and Development Authority (IRDA), Indian insurance industry

9
registered an impressive growth rate of 120% in the year 2008. Economic experts anticipate that
Indian domestic insurance would touch US $ 60.5 Billion by 2010. year 2008.

2.2 Major players in the Industry

The India insurance industry consists of 57 insurance companies which includes 24 of life insurance
sector and 33 are of non-life insurance. For a long period of time Life Insurance Corporation (LIC)
is the sole public-sector company among life insurers. Apart from that, six public sector insurers are
from the non-life insurers. To these, Indian General Insurance Corporation (GIC) is the only one
national reinsurer. stakeholders in Indian Insurance market include agents individual and corporate,
brokers, and third-party administrators servicing health insurance claims.

Top 10 Life Insurance Companies in India 2019 are as follows:

1) LIC Insurance Corporation of India

2) ICICI Prudential Life Insurance
3) SBI Life Insurance
4) HDFC Standard Life Insurance
5) Max Life Insurance
6) Bajaj Allianz Life Insurance
7) Birla Sun Life Insurance
8) Reliance Nippon Life Insurance
9) TATA AIA Life Insurance
10) PNB MetLife India Insurance

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 2.3 Market Share of major Players

MARKET SHARE BASED ON PREMIUM

LIC
SBI Othe
of
HDF rs India
ICICI
Life
CPrud
6% 16%66%
Life
entia
l7%
5%

LIC of India HDFC Life SBI Life ICICI Prudential Others

Market share of Indian Life Insurance Companies based on premium

Market Size:

Government's policy of insuring the uninsured has been gradually pushed insurance
penetration in the country. Gross direct premiums of non-life insurers in India reached US$ 13.66
billion in FY20 (up to September 2019), gross direct premiums reached Rs 410.71 billion (US$
5.87 billion), showing a year-on-year growth rate of 14.47 per cent. Overall insurance penetration
(premiums as per cent of GDP) in India reached 3.69 per cent in 2017 from 2.71 per cent in 2001.

MARKET SHARE BASED ON NUMBER OF POLICIES

SBI Othe
HDFC
ICICI
Life rsLIC of
Life
Prud
6% 13%
India
4%
ential74%
3%

LIC of India HDFC Life SBI Life ICICI Prudential Others

11
Market share of Indian General Insurance Companies

Market Size:

The new business premium of non-life insurers rose 13% to Rs.1.7 lakh crore in FY 2018-19
from Rs.1.5 lakh crore in FY 2017-18.

PSU non-life company New India Insurance witnessed healthy growth. The new business premium
of the insurer reached Rs.23,000 crore last fiscal. With this, the insurer captured 14% market share
in the non-life industry

Market share of Indian Health Insurance Companies

Market Size:

The health insurance industry in India is the fastest growing segment in the sector. The market
witnessed a robust double digit growth of 24% in FY 17, with a market share of 24%, in the entire
non-life insurance sector. This phenomenal growth may be attributed to the liberalization of the
economy and growing general awareness among the public on healthcare.

Top health insurance Company:-

a) Star Health & Allied Insurance

b) Max Bupa Health Insurance
c) Religare Health Insurance
d) ICICI Lombard General Insurance Company Limited

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 2.4 Challenges Faced by Industry
1. Lack of trust
One of the main reasons why many individuals do not buy with insurance is because of lack of
trust. The reasons are that many insurance firms fail to pay claims, and that they don`t own to
offer some benefits to its customers. Therefore, most of the people see insurance as an
unnecessary expense for them. Many insurance firms do pack up due to financial challenges.
2. Competitions
In today time there are many insurance firms in the market and thus it leads to an intensive
competition. The company looks for the simplest way to sell their insurance products within
best possible way and also to targets a specific group of people.
3. Mismanagement
As the owner of the insurance business, one is solely liable for all issues that his or her clients
may have regarding the management of the insurance business. All insurance firms that are
mismanaged can't hide their faults for extended time without the clients noticing. As time
moves, there'll be a continuing increase within the number of clients` complaints, and if his or
her insurance company isn't transparent, then he or she will lose more customers. Also,
incompetent management may cost the corporate tons, particularly if they need poor
communication with their clients.
4. Economic instability
All insurance companies will be affected when the country's economy is down. At such
situations, the rates are affected so the insurance companies may be forced to extend their rates,
a bit like interest rates on credit facilities provided by financial institutions.
5. Weak manpower
Non-professionals run many of the insurance companies today. Many people think to be an
insurance professional is simply some knowledge of monetary studies with no specialized
training. In fact this has affected the dependability and operations of insurance firms.

13
 2.5 Government regulations
The Government of India has taken number of initiatives to boost the insurance industry. Some of
them are as follows:
 As per Union Budget 2019-20, 100 per cent foreign direct investment (FDI) was permitted for
insurance intermediaries.
 In September 2018, National Health Protection Scheme was launched under Ayushman Bharat
to provide coverage of up to Rs 500,000 (US$ 7,723) to more than 100 million vulnerable
families. The scheme is expected to increase penetration of health insurance in India from 34
per cent to 50 per cent.
 The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue
redesigned initial public offering (IPO) guidelines for insurance companies in India, which are
to looking to divest equity through the IPO route.
 IRDAI has allowed insurers to invest up to 10 per cent in additional tier 1 (AT1) bonds that are
issued by banks to augment their tier 1 capital, in order to expand the pool of eligible investors
for the banks.

14
 Mr. Harsh Pradeep Behal
TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED ON 31ST MARCH-2018

Particulars Amount Particulars Amount

To consumble Purchase 132218.00 By Gross Receipt 521653.00

To Conveyance Expenses 9,863.00

To Business Promotion 38,654.00

To Salary & Wages 55,850.00

To Electricity Charges 18,163.00

To Telephone Expenses 2,489.00

To Mis. Expenses 18,653.00

To Net Profit 2,45,763.00

Total 5,21,653.00 Total 5,21,653.00

Mr. Harsh Pradeep Behal

TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
CAPITAL A/C FOR THE YEAR ENDED 31ST MARCH-2018

Particulars Amount Particulars Amount

To Drawings 90860.00

To Balance C/F 1,54,903.00 By Net Profit 2,45,763.00

Total 2,45,763.00 Total 2,45,763.00

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 Mr. Harsh Pradeep Behal
TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH-2018

Labilities Amount Assests Amount

Capital A/C 1,54,903.00 Furnitre & Fixture 41,238
Dep 10% 4,124 37,114.00

Sundry Debtors 97100.00

Cash & Bank Balance 20689.00

Total 1,54,903.00 Total 1,54,903.00

YEAR 2018
Sr. No. Formula Particulars Amount Ratio
1 Net Profit Ratio Net Profit /Net Sales X 100 Net Profit 2,45,763 47.11
Net Sales 5,21,653

2 Return on Investment Net Profit/Total Sales - Current Liabilities X 100 Net Profit 2,45,763 0.47
Total Sales 5,21,653

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 Mr. Harsh Pradeep Behal
TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED ON 31ST MARCH-2019

Particulars Amount Particulars Amount

To consumble Purchase 146586.00 By Gross Receipt 610650.00

To Conveyance Expenses 15,860.00

To Business Promotion 45,713.00

To Salary & Wages 60,500.00

To Electricity Charges 18,241.00

To Telephone Expenses 3,542.00

To Mis. Expenses 25,847.00

To Depriciation 3,711.00

To Net Profit 2,90,650.00

Total 6,10,650.00 Total 6,10,650.00

Mr. Harsh Pradeep Behal

TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
CAPITAL A/C FOR THE YEAR ENDED 31ST MARCH-2019

Particulars Amount Particulars Amount

To Drawings 160480.00 By Balance B/F 1,54,903.00

By Lic Commission Received 3,840.00

By Star Health insurance Com. Rec. 10,844.00

To Balance C/F 2,99,757.00 By Net Profit 2,90,650.00

Total 4,60,237.00 Total 4,60,237.00

17
 Mr. Harsh Pradeep Behal
TaxJeevan Consultance
House No-8/b/42, Sagar CHS, Sector-10, Koparkhairne, Navi Mumbai-400709.
BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH-2019

Labilities Amount Assests Amount

Capital A/C 2,99,757.00 Furnitre & Fixture 37,114
Dep 10% 3,711 33,403.00

Loans & Advance 94,834.00

Sundry Debtors 140650.00

Cash & Bank Balance 30870.00

Total 2,99,757.00 Total 2,99,757.00

YEAR 2019
Sr. No. Formula Particulars Amount Ratio
1 Net Profit Ratio Net Profit /Net Sales X 100 Net Profit 290650 47.60
Net Sales 610650

2 Return on Investment Net Profit/Total Sales - Current Liabilities X 100 Net Profit 290650 0.48
Total Sales 610650

COMPARISON
a) There has been not much growth in net profit and ROI
b) There has been an increase in consumable purchases
c) There have been reduction telephonic expenses
d) Sale of the company has increased

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3 ABOUTTAXJEEVAN CONSULTANCY

3.1 Brief of Company Vision and Mission

Taxjeevan Consultancy is a private company of Indian origins. It was founded in the year 2018 by
Harsh Behal. Taxjeevan Consultancy is a startup company. It is associated with the finance and
insurance sector and offers group and personal insurance covers. The company has a tie up with all
the insurance company. The company believes in giving need-based solutions, securing family first
and in long term wealth creation. It helps its customer to plan their children education, children’s
marriage, and luxurious retirement, to protect their love ones from the financial burden arising from
health emergences, disability or any disease

It has tie up with Life Mart Insurances Broker Pvt Ltd .The company received certificate of
registration in August 2019

Taxjeevan consultancy is operated at all India level. Its office is in Navi Mumbai.

Dharmendra Saire is the founder of the company.

Kshitij Saire Mahesh Patel are the directors of the company.

There are total 45 employees working in the company.

Total Customers is 550 clients

Top 5 clients of Taxjeevan consultancy are as mentioned below:-

a) Gateway group
b) Sanjeevani clinic
c) JIVA GURUKUL
d) Dalvi constructions
e) Patil transports

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3.2 Product and Services
 INCOME TAX RETURNS: this is taxes an individual or a Hindu Undivided Family or
any taxpayer other than companies, pay on the income received. The law prescribes the rate
at which such income should be taxed

 GST: Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-
based tax that is levied on every value addition. GST is a single domestic indirect tax law for
the entire country.

 LIFE INSURANCE: life insurance is a contract between an insurer and a policyholder in

which the insurer guarantees payment of a death benefit to named beneficiaries when the
insured die. Life insurance provides financial support to surviving dependents or other
beneficiaries after the death of an insured.

Who Should Buy Life Insurance?

Adults who own property together

Parents with special-needs adult children
Young adults whose parents incurred private student loan debt or cosigned a loan for them

 HEALTH INSURANCE: Health insurance is that kind of insurance that provides coverage
of medical expenses to the policy holder depending on the health insurance plan. Health
insurance provides financial support for health related emergencies.

 GENERAL INSURANCE : General insurance or non-life insurance policies, including

automobile and homeowners policies, provide payments depending on the loss from a
particular financial even e.g. 2 wheeler insurance 4 wheeler insurance home insurance

 D MART ACCOUNT OPENING: d mart account is an account for financial securities in

electronic form. It is lower transaction cost, easy transfer of securities, lower delivery of risk

 LOANS – Loan Against Property, Lease Rental Discount, Personal Loans, Business Loan,
Auto Loan , Credit Card

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 HEALTH INSURANCE

Insurance Provider Features Highlights

Bharti AXA Health Up to 4 family members 5,000+Network Up to 4 years

Insurance No of Members Covered hospitals76.88%Incurred Waiting Period
Rs. 60 lakhs Maximum Claim Ratio* No maximum entry age
sum assured Maximum Entry Age

National Health Insurance Up to 6 family memberNo 6,000+Network Up to 4 years Waiting

of Members CoveredRs. hospitals126.98%Incurred Period80 years Maximum
50 lakhsMaximum sum Claim Ratio* Entry Age
assured

New India Health Up to 6 family members 1,200+Network Up to 4 years Waiting

Insurance No of Members Covered hospitals102.94%Incurred Period80 years Maximum
Rs. 8 lakhs Maximum sum Claim Ratio* Entry Age
assured

Royal Sundaram Health Up to 5 family members 3,000+Network Up to 3 years Waiting

Insurance No of Members hospitals62.09%Incurred Period No specified limit
CoveredRs.1 crore Claim Ratio* Maximum Entry Age
Maximum sum assured

Universal Sompo General Up to 6 family members 5,000+Network Up to 4 years Waiting

Health Insurance No of Members Coverers. hospitals86.14%Incurred Period70 years Maximum
10 lakhs Maximum sum Claim Ratio* Entry Age
assured

Religare Health Insurance Up to 6 family members 4,500+Network Up to 4 years Waiting

No of Members Covered hospitals57.25%Incurred Period No maximum entry
Rs. 25 cores Maximum Claim Ratio* age Maximum Entry Age
sum assured

Star Health Insurance Up to 4 family members 9,800+Network Up to 4 years Waiting

No of Members Covered hospitals60.51%Incurred Period75 years Maximum
Rs. 25 lakhs Maximum Claim Ratio Entry Age
sum assured

LIFE INSURANCE

SBI Life insurance

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 Sr. No Company Insurance Plan
1 SBI Life SBI Life Unit-linked Insurance Plans:
Insurance For
SBI Life Insurance Child Plans:
SBI Life Insurance Retirement Plans:
SBI Life Term Insurance Plans:
SBI Life Insurance Savings Plans:
2 SBI Life SBI Life Group Retirement Plans:
Insurance For
SBI Life Group Protection Plans:
SBI Life Group Loan Protection Plans:
SBI Life Group Micro Insurance Plans:
SBI INSURANCE PLAN IN DETAIL
Insurance Plan sub-category
SBI Life – Smart Wealth Builder:
SBI Life – Smart Wealth Assure:
SBI Life – Saral Maha Anand: 
SBI Life – Smart Scholar:
SBI Life – Smart Elite: 
SBI Life – Smart Power Insurance:
SBI Life – Smart Privilege:
SBI Life – eWealth Insurance:
SBI Life – Smart Champ Insurance: 
SBI Life – Smart Scholar: 
SBI Life – Saral Pension
SBI Life – Retire Smart:
SBI Life – Annuity Plus:
SBI Life – Smart Shield:
SBI Life – Saral Shield: 
SBI Life – eShield:
SBI Life – Grameen Bima: 
SBI Life – eIncome Shield: 
SBI Life – Smart Humsafar:
SBI Life – Smart Money Planner
SBI Life – CSC Saral Sanchay
SBI Life – Smart Income Protect
SBI Life – Smart Guaranteed Savings Plan:
SBI Life – Smart Money Back Gold:
SBI Life – Shubh Nivesh:
SBI Life – Saral Swadhan+
SBI Life – Flexi Smart Plus:
SBI Life – Smart Women Advantage
SBI Life – Smart Swadhan Plus: 
SBI Life – Kalyan ULIP Plus
SBI Life – CapAssure Gold
SBI Life – Swarna Jeevan
SBI Life – Gaurav Jeevan: 
SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana:
SBI Life – Sampoorn Suraksha: 
SBI Life – Suraksha Plus: 
SBI Life – RiNn Raksha: 
SBI Life – Grameen Shakti:
SBI Life – Grameen Super Shiksha:
22
Plan
SBI Life Smart Wealth Builder
SBI Life Smart Wealth Assure
SBI Life Saral Maha Anand
SBI Life Smart Scholar
SBI Life Smart Elite
SBI Life Smart Power Insurance
SBI Life Smart Privilege
SBI Life eWealth Insurance
SBI Life Smart Champ Insurance
SBI Life Smart Scholar
Saral Pension
Retire Smart
Annuity Plus
SBI Life Smart Shield
SBI Life Saral Shield
SBI Life eShield
SBI Life Grameen Bima
SBI Life eIncome Shield
SBI Life Smart Humsafar
SBI Life Smart Money Planner
SBI Life CSC Saral Sanchay
SBI Life Smart Income Protect
SBI Life Smart Guaranteed Savings
SBI Life Smart Money Back Gold
SBI Life Shubh Nivesh
SBI Life Saral Swadhan+
SBI Life Flexi Smart Plus
SBI Life Smart Women Advantage
SBI Life Smart Swadhan Plus
SBI Life Insurance Claim Settlement Ratio:
Basic Sum Assured Policy Term
Higher of (10 x Annualised Premium) or (0.50 x Policy Term x Annualised
Premium) for Regular and Limited Premium plans, and 1.25 x Single
Premium for Single Premium plans in case the individual is under 45 years 10 years and 15 to 30 years in case of Regular and
of age; and Higher of (7 x Annualised Premium) or (0.25 x Policy Term x Limited Premium plans, and 5 to 30 years in case
Annualised Premium) for Regular and Limited Premium plans, and 1.1 x of Single Premium plans
Single Premium for Single Premium plans in case the individual is 45 years
or above
1.25 x Single Premium for individuals under 45 years of age, and 1.10 x 10 to 30 years
Single Premium for individuals who are 45 years or above
10 x Annualised Premium for individuals under 45 years of age, and 7 x 10 years / 15 years / 20 years
Annualised Premium for individuals who are 45 years or above
1.25 x Single Premium for Single Premium plans, and Higher of (10 x Minimum: 8 years Maximum: 25 years less
Annualised Premium) or (0.50 x Policy Term x Annualised Premium) for child’s age at entry (The child must be between
other premium payment terms 18 and 25 years of age on maturity)
10 x Annualised premium for individuals under 45 years of age, and 7 x
Annualised Premium for individuals who are 45 years or above in case of
Limited Premium plans, and 1.25 x Single Premium for individuals under 5 to 20 years
45 years of age, and 1.10 x Single Premium for individuals who are 45 years
or above in case of Single Premium policies
Higher of (10 x Annualised Premium) or (0.50 x Policy Term x Annualised
10 years , 15 to 30 years
Premium)
For Regular / Limited premium: Higher of 10 x Annualised Premium or
10 to 30 years for Limited / Regular premium
(Policy term x 0.5 x Annualised Premium) For Single Premium: 1.25 x
Single Premium for individuals below 45 years of age, and 1.10 x Single policies and 5 to 30 years for Single premium
plans
Premium for individuals over 45 years of age
10 x Annualised Premium 10 to 20 years
21 years less child’s age at entry Minimum: 8
Rs. 1 lac years Maximum: 21 years
1.25 x Single Premium for Single Premium policies, and Higher of (10 x
Annualised Premium) or (0.50 x Policy Term x Annualised Premium) for Minimum: 8 years Maximum: 25 years less
individuals under 45 years of age, and 7 x Annualised Premium for child’s age at entry
individuals who are 45 years or above
5 years for Single Premium plans and 10 years for
Rs.1 lac Regular Premium policies
n/a 10, 15 to 35 years
n/a n/a
Rs.25 lacs 5 years to 30 years
Rs.7.5 lacs 5 years to 30 years
Rs.20 lacs 5 years to 30 years
Rs.10,000 5 years
n/a 10 years to 35 years
Rs.1 lac 10 years to 30 years
Rs.1 lac 15 years to 25 years
10 x Annualised Premium if the individual is under 45 years of age, and 7 x
Annualised Premium if the individual is 45 years or above in case of
10 years to 15 years
Regular Premium policies; and 125% of top-up premium for individuals
under 45 years of age, and 110% of top-up premium for individuals who are
45 years or above in case of Top-up Premium policies
Rs.1 lac 7 years / 12 years / 15 years
Dependent on premium selected by customer 15 years
Rs.75,000 12 years to 25 years
Minimum of 7 years for Regular Premium plans
and 5 years for Single Premium policies, and
Rs.75,000 maximum of 30 years for both
Rs.30,000 10 years / 15 years
Annualised basic premium x Sum Assured Multiple Factor 5 years to 30 years
Rs.2 lacs 10 years and 15 years
Rs.5 lacs 1. ears to 30 years
23
 Total Total Total Total Claim Claim Claim Claim Claim
Total Premium
Premium in Premium in Premium in Premium in Settlement Settlemen Settlemen Settlemen Settlemen
in Crores
Crores (2017- Crores (2015- Crores (2014- Crores Ratio (2017- t Ratio t Ratio t Ratio t Ratio
(2016-17)
18) 16) 15) (2013-14) 18) (2016-17) (2015-16) (2014-15) (2013-14)

25,354.19 21,015.13 15,825.36 12,867.11 10,738.60 96.76% 96.69% 93.39% 89.43% 91.06%

Documents required while taking SBI life Insurance are as mentioned below

Passport
PAN Card
Voter’s ID
Driving License
i. ID Proof Letter issued by the National Population Register or Unique Identification
Authority of India containing information such as the name, Aadhaar number
and address of the individual
Job card issued by NREGA and duly signed by a State Government official.
Utility bill provided it is less than two months old (post-paid mobile phone
bill, water bill, telephone bill, piped gas bill, electricity bill, etc.)
Municipal or property tax receipt
Post office savings or bank account statement
family pension or pension payment orders issued to retired individuals by
Public Sector undertakings or Government Department, provided they contain
ii. Proof of
the residential address of the individual
Residence Letters issued by Mission in India or Foreign Embassy and documents issued
by Government departments of foreign jurisdiction
Letter of allotment of accommodation from employer issued by Central or
State Government departments, Regulatory or Statutory bodies, scheduled
commercial banks, public sector undertakings, listed companies and financial
institutions.

ADITYA BIRLA LIFE INSURANCE

24
Insurance Plan
Protection plans
Wealth with protection plans
Children’s future plans
Health plans
Retirement plans
Savings with protection plans ABSLI Vision LifeSecure Plan
Aditya Birla life insurance plan details
Insurance Plan sub-category
ABSLI DigiShield Plan
ABSLI Income Shield Plan
ABSLI Life Shield Plan
ABSLI Wealth Max Plan
ABSLI Wealth Secure Plan
ABSLI Wealth Assure Plan
ABSLI Fortune Elite Plan
ABSLI Wealth Aspire Plan
ABSLI Vision Star Plan
ABSLI Cancer Shield Plan
ABSLI Hospital Plus Plan
ABSLI CritiShield Plan
ABSLI Empower Pension Plan
ABSLI Immediate Annuity Plan
ABSLI Empower Pension - SP Plan
ABSLI SecurePlus Plan
ABSLI Vision MoneyBack Plus Plan
ABSLI Vision Life Income Plan
ABSLI Savings Plan
ABSLI Income Assured Plan
ABSLI Vision Endowment Plus Plan
ABSLI Guaranteed Milestone Plan
ABSLI POS – Jeevan Bachat Plan
detail of insurance plan
Ensure the financial security of one’s family, especially during
times of crisis. These protection solution plans offer your
family total financial security, therefore, reducing the overall
stress.
Provide the chance to save money in limited quantities, with
the additional benefit of a large cover and tax free returns.
These small savings go a long way in protecting one’s family’s
future.
Wherein the child’s future is secured through payments made
at important junctions of his/her life. Some plans also offer the
option of premium-payment by the company in case the
insured doesn’t survive the policy tenor.
Three different types of health plans which can be utilised by
the insured to insure himself/herself, and also offer coverage
for hospitalisation, injuries, and major critical illnesses. With
these health plans, one can focus on getting adequate treatment
rather than worrying about organising funds.
Provide steady income for senior citizens who are not working
anymore. The plans pay out fixed benefits at policy maturity or
retirement, while also paying death benefits as applicable to the
particular policy.
An insurance plan with investment options that cater towards
wealth protection
25
Type of plan Basic sum assured Policy tenure
Minimum sum assured: Rs.30 lakh
ABSLI DigiShield plan 5 to 40 years
Maximum sum assured: No limit
Minimum sum assured: Rs.5 lakh
ABSLI Income shield plan 10 to 40 years
Maximum sum assured: No limit
Minimum policy tenure: 10 years or 20
Minimum sum assured: Rs.25 lakh
ABSLI Life shield plan years
Maximum sum assured: No limit Maximum policy tenure: 50 years

The sum assured of a policyholder is determined based on their age of

ABSLI SecurePlus Plan entry and the pledged premium amount to be paid in a policy year 13 years
The minimum sum assured amount is Rs.5.22 lakh
ABSLI Vision Money Back
Minimum sum assured: Rs.1 lakh 20, 24, and 25 years
Plus Plan
ABSLI Vision LifeIncome Plan Minimum sum assured: Rs.2 lakh Whole life to 100 years of age
Minimum sum assured: Rs.30,000
ABSLI Savings Plan 10, 15, and 20 years
Maximum sum assured: Rs.10 lakh
Minimum sum assured: Rs.2 lakh
ABSLI Vision LifeSecure Plan 15 to 35 years
Maximum sum assured: Rs.12,000 paid per annum
ABSLI Income Assured Plan Minimum sum assured: Rs.1 lakh 15, 22, and 25 years
ABSLI Vision Endowment Plus
Minimum sum assured: Rs.1 lakh 10 to 40 years
Plan
ABSLI Guaranteed Milestone Minimum sum assured: Rs.2.25 lakh
12, 14, 16, 18, 20, 22, 24 & 26 years
Plan Maximum maturity sum assured: Rs.90,000
For Single Pay & 6 Pay: 10, 15, and 20
Minimum sum assured - For single pay policies - Rs.12,500
years
ABSLI POS – Jeevan Bachat For limited pay policies - Rs.50,000 For 9 & 12 Pay: 15 and 20 years
Plan
Maximum sum assured - For single pay policies - Rs.10 lakh
For limited pay policies - Rs.5 lakh
Minimum sum assured: Rs.10 lakh Minimum policy tenure: 5 years
ABSLI Cancer Shield Plan
Maximum sum assured: Rs.50 lakh Maximum policy tenure: 20 years
For Benefit Option A: Rs.75,000 per life
For Benefit Option B: Rs.2.25 lakh per life
ABSLI Hospital Plus Plan 5 years along with a guarantee of renewal
For Benefit Option C: Rs.3.75 lakh per life
For Benefit Option D: Rs.5.63 lakh per life
Minimum sum assured: Rs.10 lakh Minimum policy tenure: 5 years
ABSLI CritiShield Plan
Maximum sum assured: Rs.50 lakh Maximum policy tenure: 20 years
Vision Star Rs.1,00,000 14 & 16 years
Wealth Max 1.25/5/10 times basic premium 5,10,15 & 20 years
Wealth Secure lifetime
Wealth Assure Rs.1,00,000 if paid annually Rs.1,80,000 if paid monthly 10,15,20,25 & 30 years
Fortune Elite Rs.4,00,000 5,10,15 & 20 years
Wealth Aspire Rs.3,00,000 10-40 years
Bima Dhan Sanchay Rs.5,000 5,10 & 15 years
Bima Suraksha Super Rs.5,000 5,10 & 15 years
Bima Kavach Yojana Rs.50 3 years
Grameen Jeevan Raksha 20 times single premium 5 years

Aditya Birla Sun Life Claim Settlement Ratio:

26
 Year 2013-14 2014-15 2015-16 2016-17 2017-18
Claim Settlement Ratio (%) 87.76 95.3 88.45 94.69 96.38
Total Premium (in crores) 4,833.05 5,233.22 5,579.71 5,723.96 5,903.00

Documents Required for Aditya Birla Sun Life Insurance:

Sr.
No. List of documents
1 Recent passport-sized photograph.
Proof of identity: any 1 of the below mentioned documents can be
2 submitted towards proof of identity:
3 Passport.
4 Driving licence.
5 PAN card.
6 Aadhaar card.
7 Voter’s identity card.
8 Job card issued by NREGA, signed by a State Government officer.
Proof of residence: Any one of the below mentioned documents
9 are to be submitted towards proof of residence.
10 Property tax or municipal tax receipt.
11 Bank account or post office account statement.
12 Rent agreement.
Utility bills (electricity, gas, telephone) not more than 2 months
13 old.
Letter of allotment or accommodation from State or Central
14 government, financial institutions or listed companies.

3.3 Position in the industry

The world is unpredictable, Taxjeevan Consultancy as a startup company has a complementary
place in the insurance world, and it has to face a lot of challenges and risks. The startups have
created 43 jobs and it has a long way to go. Taxjeevan as start-up ecosystem has to come a long
way in providing a level playing field to flourish by strengthening capabilities and fostering co-
creation.

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3.4STAKEHOLDER DETAILS

28
Internal stakeholder External stakeholder

OWNER CUSTOMER

Mr. Dharmendra saire ( Founder) 550 Clients

Mr. Harsh Behal (CEO) INVESTORS

Mr. Kshitij Saire (Director) Mr. Dharmendra Saire

Mr. Mahesh Patel (Director) Mr. Kshitij Saire

EMPLOYEES Mr. Mahesh Patel

45 MEDIA

Social Media Platforms

GOVT AGENCY

LIC

3.5SWOT Analysis of Company

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a
t
n
e
g
u
p
o
C
H
s
c
li
1. STRENGTH

a) Quality work: the services and the quality of work provided by the company build strong
relationship with the insurances company.
b) Insurances of all company: It is one of the vital strength as the company can provide insurance of
any company. This helps the customer with wide range of product.
c) Wide range of product: Being a startup the company, it provides wide range of product apart from
insurance. the company Taxation, Income tax returns, GST, TDS refunds, Life insurance,
Health insurance, General insurance ,D mart account opening, Loans

2. WEAKNESS
a) Small clients: as the company is a startup and new in the market it is not able to provide its
services. there is lack of trust

30
 b) Communication: the company does not have too many skilled employee due to which the
are not able to convey there information and educate the customers about there product

3. OPPORTUNITIES

a) Huge Population: the population of India is increasing at a rapid pace and also the
insurable population is too high and not yet covered completely and hence there is a huge
potential for the business in Indian market. . The rural population amounts to seventy two percent
and majority of them are left uncovered. This can be a major avenue for the players in the insurance
market.

b) Contacts Networking and building relationships with other businesses, such as accounting and
legal firms, provides an opportunity to business and consumers needing insurance policies.

4. THREATS

a) Client’s behavior: the company struggles to keep up with customer expectation.

b) Competitor: With more company coming up every day with the growing demand of the industry. It
becomes important for the company to make a mark and create a goodwill

c) New entrants: as a startup its already facing competition in the market . entry of new company will
create more competition for the company

d) Instability in Economy – There is a high instability in the economy which impacts the
business to great extent.

ON THE JOB TRAINING

4.1KEY RESULT AREA

31
Gain an introduction to core business functions and understanding basic.

Responding to customers in timely professional manner and receiving positive feedback from
customer.

Building up on soft skills.

Be an advisor, not a salesperson when we are talking to customer we should not call customer just
to sell our product but in fact we should educate our customer

Follow up:-follow-up is the key important function which every sales person should focus on the
can help you to understand how much time you are taking to close on call

4.2 TARGET ASSIGNED

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SALES OF INSURANCES AND OPENING OF DEMART ACCOUNT. The company had
provided as script about how to talk to customers and educate them about insurances. At the
beginning we use to contact customer by using justdeal later the company provided as data. We
were asked to make at least 30 calls per day and update them how many of the customers are
willing to buy. I was doing sales of all the insurances – life insurances, general insurances and
health insurances and also for opening Demat account.

CLIENT SATISFACTION: Customer satisfaction with a company's services is often seen as the
key to a company's success and long-term competitiveness. In Taxjeevan consultancy clients are
explain the process in a simplify manner which creates client satisfaction and the company is
always available for its clients.

CLIENT FEEDBACK: Once the customer becomes the client of the company we take feedback
from them.

UPDATE STATUS ON WHATSAAP: the company asked us to update status on regular bases so
the customers and client be updated about our company product and services. And it’s important as
per the current situation.

CALLING CA FOR TIE-UP WITH THE COMPANY: as per today even Chartered Accountant
deals with insurances. As our company has insurance of all the company. They are willing to tie up
the company.

CALL AT LEAST 30 CUSTOMERS. We were asked to call minimum 30 customers and talk
about insurances and its importance’s at the present situation. We also call people for opening
Demat account for free for one year and from the next year they need to pay some amount.

4.3 TARGET ACHIVED

33
 As an employee my job was to sell the insurance policies, opening Demat account
and the tie-ups with CA firms.

I had to call 30 customers in a day. I was able to achieve target as I targeted

more towards lower middle class family and upgraded them with our policies.

 2 clients of Health Insurance

 1 for two-wheeler insurance.

4.4TECHNICAL AND SOFT SKILL ACQUIRE

34
COMMUNICATION:The industry I had to interacting with clients and vendors as well as your
co-workers and managers. It’s helped to able to build and maintain relationships. The internship
required us to call the customers which have boosted the confident of communicating. At the
beginning there was a lot of hesitation and low confidents but due to internship it has improved and
later I was able to communicate confidently and was able to convey my message it more proper
manner.

BEING PROFESSIONAL : The internship experience taught how to treat clients and even your
coworkers, to arrive on time for the meetings, maintaining respectful attitude towards other , speak
clearly and in language others can easily understand, act courteously and use good manners when
engaging with others. It has developed an understanding of your company’s, goals and objectives
and the role that I need to play in achieving those. Dedication and a positive action to role and the
organization

TASK TO BE FINISH ON TIME: time management skills have allowed me to complete tasks
and projects before deadlines. Staying in the organization has helped me to allocate my workday
with important task

Time management skills have improved the following:

 Delegating tasks
 Focus
 Goal setting
 Organization
 Prioritization

SENSE RESPONSIBILITY: being responsible is a skill which is required in any job . Internship
experience has made me more responsible and accountable for my decisions and how I can execute
the task allocated by the firm.

 Soft skills are very important as hard skills, to sustain in a firm.even is someone is an academic
genius, one cant reach far without soft skills and hence it becomes important to learn these skills.

35
5RESEARCH ON THE CHALLENGE FACED MY THE COMPANY

5.1 PROBLEM IDENTIFICATION

The Indian insurance after a decade of strong growth, the Indian insurance industry is currently
facing
sever challenges to:
– Slowing growth
– Rising costs
– Deteriorating distribution structure
– Stalled reform

CHALLENGES IN LIFE INSURANCES

, The life insurance industry. Has been facing to the following challenges
 Products strategy
 Cost
 Taxation
 Distribution
 challenges of various channels
 Compensation
 Customer service
 Governance and regulatory issues

NON-LIFE INSURANCE:

The non-life insurance industry has grown over the last two years however the penetration was as
low as. The key factors for growth include:
 Product pricing,
 innovation and simplicity
 Distribution
 Compensation
 Micro-insurance in non-life widening reach
 Governance and regulatory changes
 Health insurance

36
  Innovative products to counter the competition
 Improved fraud control mechanisms
 Standardization to reduce claims loss
 Reducing in efficiencies by revisiting third party administrator agreement

CHANNELIZING INDUSTRY FOCUS – In meeting the significant potential, the industry

increased role and responsibility. Three areas of focus
a) Product innovation matching the risk profile of the policyholders
b) Re engineering the distribution
c) Making sales and marketing more responsible.

REGULATION – The industry should be given time to adjust to regulatory

changes in a phased manner aligned with a regulatory impact assessment.
Regulations need to drive transparency and simplification of products and
services.

37
 5.2 LITERATURE REVIEW

Literature review on insurance provides the knowledge about insurances market. The literature
reviewed is consists of journals by the Insurance Institute of India, Federation of Insurance Institute,
IRDA and insurance magazines I have gone through the websites of various insurance companies
and IRDA.

The insurance sector is playing an important role for development and economic growth of our
.over a period of time The government craft laws and enforce regulations that promote more
transparent markets which is supported by fair competition. Competitive insurance market serves
interst for all ..

The insurance sector has challenged the monopoly of the LIC and there are many companies in
order to face the competition with LIC. LIC compared with new entrants has a sound background
and high brand equity which creates competition

Insurances help in promoting saving habits amongst the people and provide safety to urban and
rural enterprise. It also helps in generation of funds.

Non-life insurance is grade of industrial growth and life insurance is a grade of the saving habit of
the people. Today there is a wide variety of products in both life and non-life sectors..

Private firm’s entry has raised both price and competition in the market. Even the private
companies are creating competition to capture market share.

Satisfactory result is shown by life insurances industries over the years in terms of perium income
and policies. There has been a need to change the perception of Indian consumers towards insurance
and it is the responsibility

There has been a lot different in rural and urban policyholders. Rural populations are towards low
premium and maximum risk coverage whereas urban population is for high premium. Private
players have not achieved success in rural area the private players have not been able to provide
policies preferred by rural people. Insurances a tax saving for conserve consumers in urban areas
consumers with middle income prefer policies of public sector rather than public and only high
income group preferred private sector players. The major reasons stated for the failure in the rural
sector are as follow
38
1. lack of appealing marketing strategies

2. High differences are seen in services provided and consumers’ expectations

3. High premiums which the rural areas can’t afford

4. the company works in professional way which has failed to generate confidence and brand name
as rural population prefers personalized approach and with the regional culture

The Insurance Institute of India conducted a comprehensive study on marketing of life insurance to
examine the extent of life insurance coverage among different segments of the population and to
study awareness, attitude and perceptions of customers on insurance products and other financial
products. The following are the important conclusions emerged from the study:

1. The prevalence of bank deposits as another avenue of investment is less widespread than life
insurance in most of the areas among the segments.

2. Government savings schemes are less popular than bank deposits and all segments having
dealings with financial institutions avail of life insurance.

3. Forty percent of the uninsured households reported that they did not need insurance. Twenty
percent of the respondents did not take insurance policies since insurance people had not
approached 42 them. Thirty percent considered insurance as a very expensive form of savings
schemes.

4. The majority of the members (66 percent) of all segments of household customers bought life
insurance policies to provide security to family and tax relief was the second important motive.

5. Another important and interesting finding was that about one seventh of the policyholders are not
sure of the various benefits under life insurance.

6. One third of the respondents have reservations about LIC’s sincerity in settling claims promptly.

7. Respondents reported that agents did not maintain regular contact with policyholders.

39
The customers’ opinion on policies between private insurance companies and public insurance
companies and also identified customers’ expectations on private insurance companies’ policies. He
stated that most of the respondents felt that the policies offered by the private insurance companies
were up to the expectations of customers.

40
6 CONCLUSION&RECOMMENDATION

6.1LIMITATION & SCOPE

Consumer expectation from company

Insurance customers are responding to the multi-channel distribution networks. Consumer likes the
convenience of being able to access their provider, quickly and easily, using a variety of digital and
physical channels.

.Consumers tend to like the speed and convenience of digital services, especially when performing
administrative tasks,. It’s vital that insurers get the balance right. If not ,most customers are likely to
shift their allegiance to providers that better meet their needs.

Challenge for Innovative Products: In the life insurance sector, insurers need to enhance efforts in
designing new products which suitable and use of innovative distribution channels to reach a large
range of people. In today’s world earning capacity has increase, rural population is also interested in
saving the money, at present, not more than 11%of the working population in India is eligible for
old-age retirement scheme. They can be attracted for insurance by way of need based innovative
insurance plans.

Lack of Professionalism: There is lack adequate specialized skilled professionals in the areas.

Complexity in Claim Settlement: Most of the customers are discouraged for buying some of the
insurances plan due to complexity in settlements of claims. Insurance companies do face
competition in the industry which forces them to speed up their claim processes.

41
6.2 CONCLUSION

People are beginning to look beyond LIC for their insurance needs and are willing to trust
private players with their hard earned money. People in general have been impressed by the
marketing and advertising campaigns of insurance companies. Another heartening trend was in
terms of people viewing insurance as a tax saving and investment instrument as much as a
protective one. A very high number of respondents have opted for insurance for such purposes and
it shows how insurance companies have been successful to attract public money in recent times.

The general satisfaction levels among public with regards to policy and agents still requires
improvement. Therein lays the opportunity for a relative new comer like TAXJEEVAN
CONSUTANCY.

42
6.3 RECOMMENDATIONOR SUGGESTION TO THE COMPANY

1. The company dint had their own vision and mission statement so I have provided the same so
that they can use my recommended vision and mission statement in their website

VISION
Taxjeevan Consultancy would strive to become a leading financial services institutions with multi
products tailored made both to corporate and individuals suiting their requirement and to create a
niche market for the products offered.

The company will excel in product and services in the financial and allied sectors and in the process
will maintain its business ethics and principles.

MISSION

Taxjeevan Consultancy would strive to become an ace financial and allied services institution
offering different tailored made products suiting everyone’s requirement. The company will have a
host of multi products for investments and also products from insurance sectors. The company will
represent the leading financial and insurance companies as a one stop solution for the customers to
choose who will be from a wide spectrum of both corporate and individuals spread across the
country. The company is a startup company so they should have a website of their own where any
customer who needs to know about the company [profile or product can visit the website

2. I have recommended the company to have a website name

www.TaxjeevanConsultancy.com

Under the website below details need to be included.

PAGE 1 HOME PAGE

It should have boxes of the contents of the website and its navigation to the required box.

The Home Pageshould give an introduction about the company as to

a. WHO WE ARE
b. WHAT IS OUR USP

43
 c. WHY WE (The company)
 One stop solution for all your investment and insurance needs
 Customized products meeting your needs
 24X7 access
 Reliable financial services
 Over 3 years of dedicated country wide clients
 Personalized attention
 Professional Staff having decades of experience in financial and insurance services
 Well known in the market for reliability

d. Vision and Mission statement

The company dint had their own vision and mission statement so I have provided the same
so that they can use my recommended vision and mission statement in their website.

PAGE 2 PRODUCTS AND SERVICES

 Taxation
 Income tax returns
 GST
 TDS refunds
 Life insurance (Of all the companies)
 Health insurance (Of all the companies)
 General insurance (Of all the companies)
 Demat account opening
 Loans

PAGE 3 Companies represented/ products of companies available

PAGE 4 Download application forms, etc

PAGE 5 OUR MANAGEMENT TEAM

Director’s details with photographs; Over 10 Professional qualified staff.

44
PAGE 6 CERTIFICATIONS AND MEMBERSHIP

PAGE 7 TOP FIVE CLIENTS

PAGE 8 CONTACT US AND ENQUIRY FORM

PAGE 9 CAREERS

3. The company was not having a calling script with them and calling to close ration was very
low because of non-availability of script so I have provided them the below script which can
help them in calling customer and increase their call to close ratio

 Hello/ Good morning /Good afternoon. Hello, this is Karishma Dubey fromTaxjeevan
Consultancy
 May I please speak to Mr. Rahul Dixit?
 Is this a good time to speak to you?
 I’m calling to ask about/discuss/clarify about our company and our company related
products
 I just wanted to ask if you deal in insurance product or you have any insurance policy
 If yes? Which company insurance policy you have? If you don’t mind I can help you in
explaining the difference between what insurance you have taken and what could have been
the better policy for you?
 If the customer is interested could you give me your mobile number, please?
 Thank you for your contact details so if you are free in this week we can have a small
meeting and our sales person will come and explain you the product again in details and if
you are interested we can have your documents collected at the same time.
 Can you please provide your address and your preferred time so that I can send my sales
person?
 Thank you for sharing your details my marketing person will get in touch with you, I will
message you his contact details.

45
 Thank you for your valuable time.
4. I have recommended Taxjeevan Consultancy to prepare a small presentation which can be
used if we are capturing big corporate clients where we can explain them about our
company product and service in one short presentation.

46
6.4REFERENCE

https://en.wikipedia.org/wiki/Insurance_in_India

https://www.radiomirchi.com/

https://www.linkedin.com/company/birla-sun-life-insurance/

https://www.india.gov.in/official-website-ministry-information-and-broadcasting

https://www.linkedin.com/company/kotak_life/

https://www.google.co.in/amp/s/www.thehindubusinessline.com/money-andbanking/
%25E2%2580%2598LIC-agents-more-productive-than-their-private-sectorcounterparts
%25E2%2580%2599/article20708785.ece/amp/

https://insurance-analyzer-info.com/6-biggest-challenges-for-insurance-companies/

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