“RECRUITMENT OF FINANCIAL CONSULTANS AT HDFC

STANDARD LIFE”

AN INDUSTRIAL TRAINING PROJECT REPORT

AT

“HDFC STANDARD LIFE INSURANCE COMPANY LIMITED”

By

Swadha mishra
[BATCHLORS OF BUSINESS ADMINISTRATION (Final year) ]

IN
“HUMAN RESOURCE”

UNDER

PROFESSIONAL DEVELOPMENT ACTIVITY (PDA)

JAYOTI VIDYAPEETH WOMEN’S UNIVERSITY

JAIPUR,

DECEMBER (11TH to 31st) 2012

PREFACE

No professional curriculum is considered complete without work e x p e r i e n c e . E a c h

i n d i v i d u a l w h o u n d e r t a k e s m a n a g e m e n t education has to pass this phase before
he/she consider him/her self fully qualified as manager.

For any reputated organization where it is preliminary or in growing stage or in matured stage. Survey is very
essential as it tells entire performance of the company in the respective years. Survey is conducted to know the
position of the company in that particular year. Survey is not only comprises of collection
of data but also in proper analysis of that particular data.

A l l t h e f u n d a m e n t a l c o n c e p t s t h a t a r e a p p l i c a b l e i n m a r k e t b u t leaves the
individual work at it application. It is just a matter of applying the theory you know to give a
practical situation. And there is no better place to learn than the market itself .

Insurance industry is working up to the challenge to survive in this h i g h l y c o m p e t i t i v e

s c e n a r i o . M a n a g e r s a r e b e i n g p r e s s u r e d t o improve quality, brand image,
increase product awareness and customer satisfaction. The collective effort of the
employees and employer assumed relevance in this context.
 ACKNOWLEDGEMENT

It is my pleasure to be indebted to various people, who directly or indirectly contributed in the

development of this work and who influenced my thinking, behavior, and acts during the course
of study.

I express my sincere gratitude to …………… (Director, Company/Industry) for providing me

an opportunity to undergo Industrial Training at ……………………..

I am thankful to ………………. (Project Investigator) for her/his support, cooperation, and

motivation provided to me, during the training and for continuous inspiration, presence and
blessings.

I also extend my sincere appreciation to Mr/Ms. ………………………… (Dean, Faculty

of……..) who provided her/his valuable suggestions and precious time in accomplishing my
project report.

Lastly, I would like to thank the almighty and my parents for their moral support and my friends
with whom I shared my day-to-day experience and received lots of suggestions that improved
my quality of work.

(Name of the student)

Date:

Place:

Certificate from the Company / Industry

 (Should be on the Company/Industry‘s letterhead)

CERTIFICATE

(18, bold, underline)

This is to certify that Ms.___________________________has partially completed / completed

the Industrial Training in our Organization / Industry during the academic year 2011-2012. She
was trained in the field of
_____________________________________________________________

__________. Her overall performance during the period was Excellent / Very Good / Good /
Average / Poor. (16, normal)

Industrial Guide

(16, bold)

Seal
Self-assessment of Industrial Training by the student

1. Name of Student:_____________________________________________
2. Name and address of Company / Industry_________________________
3. Guide from Industry__________________________________________(with
designation)____________________________________________
4. Date of commencement _______________________________________ of Industrial
Training
5. Number of days present ________________days out of _________days.
6. I hereby declare that, I have learnt following skills during my Industrial Training:
Sr. Description
 DECLARATION

I, ………………….(name of the student), student of

…………………….(Course name) studying in
…………….(trimester/semester), hereby declare that the Industrial Training
report on ―……………………………………………………..‖ (topic)
submitted to Jayoti Vidyapeeth Women‘s University, Jaipur, in partial
fulfillment of degree of …………………………………….. is the original work
conducted by me, at …………………………………………….(Company
Name & Location).

The information and data given in the report is authentic to the best of my
knowledge.

This summer training report is not being submitted to any other place for award
of any other degree, diploma and fellowship.

(Name of the student)

Date:

Place:
 TABLE OF CONTENTS

Recruitment of financial consultants at HDFCSL

1. INTRODUCTION OF THE TOPIC

2. OBJECTIVES OF STUDY

3. SCOPE AND RATIONALE OF THE TRAINING

4. COMPANY PROFILE
(Background, History, Founder, vision, mission, competitors, Organization
structure, Products, milestones, achievements, address)

5. TRAINING METHODOLOGY
(Type of methodology, training design, sampling design, tools, sample units,
hypothesis, data collection methods)

6. STUDY OF ―Human resource‖

7. DATA ANALYSIS AND INTERPRETATIONS
8. RESULTS AND FINDINGS

9. CONCLUSIONS

10. LIMITATIONS OF THE TRAINING

11. SUGGESTIONS AND RECOMMENDATIONS

12. BIBLIOGRAPHY

13. APPENDIX

ANNEXURE –I QUESTIONNAIRE

ANNEXURE –II ANNUAL REPORTS etc.

Introduction :

INSURANCE
(Governed by Insurance Act -1938,Now By –IRDA act Insurance
Regulatory and Development Agency-1999)

Insurance is the equitable transfer of the risk of a loss, from one entity to
another in exchange for payment. It is a form of risk management primarily
used to hedge against the risk of a contingent, uncertain loss.

An insurer, or insurance carrier, is a company selling the insurance; the insured,

or policyholder, is the person or entity buying the insurance policy. The amount
to be charged for a certain amount of insurance coverage is called the premium.
Risk management, the practice of appraising and controlling risk, has evolved
as a discrete field of study and practice.

The transaction involves the insured assuming a guaranteed and known

relatively small loss in the form of payment to the insurer in exchange for the
insurer's promise to compensate (indemnify) the insured in the case of a
financial (personal) loss. The insured receives a contract, called the insurance
policy, which details the conditions and circumstances under which the insured
will be financially compensated.

History of insurance
Almost 4,500 years ago, in the ancient land of Babylonia, traders used to bear
risk of the caravan trade by giving loans that had to be later repaid with interest
when the goods arrived safely. In 2100 BC, the Code of Hammurabi granted
legal status to the practice. That, perhaps, was how insurance made its
beginning:.

Life insurance had its origins in ancient Rome, where citizens formed burial
clubs that would meet the funeral expenses of its members as well as help
survivors by making some payments.

As European civilization progressed, new sea routes for trade, social institutions
and guilds, in particular with many welfare and protective measures were also
introduced. With increased protection that revolved around the concept of
insurance, trade flourished.
In 1347, in Genoa, European maritime nations entered into the earliest known
insurance contract and decided to accept marine insurance as a practice.
Insurance owes its existence to 17th century England. In fact, it began taking
shape in 1688 at Lloyd's Coffee House in London, where merchants,
shipowners and underwriters met to discuss and transact business. By the end of
the 18th century, Lloyd's had enough business to become one of the first
modern insurance companies.

In 1693, astronomer Edmund Halley constructed the first mortality table to

provide a link between the life insurance premium and "the average life spans
based on statistical laws of mortality and compound interest. In 1756, James
Dodson a British mathematician, actuary and innovator in Insurance Industry
reworked the table, linking premium rate to age.

The first stock companies to get into the business of insurance were chartered in
England in 1720. The year 1735 saw the birth of the first insurance company in
the American colonies in Charleston, SC.

In 1759, the Presbyterian Synod of Philadelphia sponsored the first life

insurance corporation in America for the benefit of ministers and their
dependents.

However, it was after 1840 that life insurance really took off in a big way. 19th
century saw huge developments in the field of insurance. Two years after the
infamous New York Fire in 1835, Massachusetts became the first state to insist
by law on fund reserves to meet emergencies. The great Chicago fire of 1871
caused huge losses which brought in the practice of reinsurance, wherein the
risks are spread among several insurance companies, in such situations.

In 1897., the British government passed the Workmen's Compensation Act,

ensuring employees against industrial accidents. With the advent of the
automobile, public liability insurance, which first maqe its appearance in the
1880s, gained importance and acceptance.

In the 19th century, many societies were founded to insure the life and health of
their members. Many employers sponsor group insurance policies for their
employees, providing not just life insurance, but sickness and accident benefits
and old-age pensions. Employees contribute a certain percentage of the
premium .for these policies.

Insurance in India can be traced back to the Vedas. For instance, Yogakshema,
the name of life Insurance Corporation of India's corporate headquarters, is
derived from the Rig Veda. The term suggests that a form of "community
insurance" was prevalent around 1000 BC and practised by the Aryans. Bombay
Mutual Assurance Society, the first Indian life assurance society, was formed in
1870. Other companies like Oriental, Bharat and Empire of India were also set
up in the 1870-90s. It was during the Swadeshi movement in the early 20th
century that insurance witnessed a big boom in India with several more
companies being set up.

As these companies grew, the government began to exercise control over them.
The Insurance Act was passed in 1912. followed bv a detailed and amended
Insurance Act of 1938 that looked into investments, expenditure and
management of these companies' fund.

By the mid-1950s, there were around 170 insurance companies and 80

provident fund societies in the country's life insurance scene. However, in the
absence of regulatory systems, scams and irregularities were almost a way of
life at most of these companies. As a result, the government decided, to
nationalise the life assurance business in India. The Life Insurance Corporation
of India was set up.in 1956 to take over around 250 life insurance companies.

For years thereafter, insurance remained a monopoly of the public sector. It-was
only after seven years of deliberation and debate - after the RN Malhotra
Committee report of 1994 became the first serious document calling for the
reopening up of the insurance sector to private players and the sector was finally
opened up to private companies in 2001.

Insurance Regulatory & Development Authority (IRDA), an autonomous

insurance regulator set up in 2000, has extensive powers to oversee the
insurance business and regulate in a manner that will safeguard the interests of
the insured.

Today, In India there are more than 15 Private Insurance Companies apart from
Public Insurance Companies. Insurance Penetration in India is about only 2%
compared to other countries . on an average of about 10%.

Insurer :
An individual which is insured by the insurance agent on the basis of
premium payment. Insurers have to pay the amount of premium to the
insurance company on the decided date in terms of decided amount which
s generally known as installment or premium .
Insurance agent :
• Means an insurance agent licensed under section 42 who receives or
agrees to receive payment by way of commission or other remuneration
in consideration of his services which he gives by the insurer.
• Agents are doing work on behalf of the insurance company for generating
the business or would say selling the insurance policies.

Parties :- There are two parties to an Insurance contracts as:-

Insurer/assurer/underwriter,

Insured/assured/beneficiary

Policy :- The document laying down the term of contract is called

(insurance) policy.

General Agents
A general agent has legal authority to bind the principal on any matter,
which is a very broad power. General agents related to the general
insurance.

For example, a general agent can bind the principal to a financial

contract.

Special Agents
A special agent is given only a narrow slice of legal authority, typically in
a defined subject matter. Special agents are related to the life insurance

Basic Principles of Insurance

 Utmost Good Faith
 Insurable Interest
 Indemnity
• Subrogation
• Contribution
 Proximate Cause

Utmost Good Faith

 Good faith- Let the buyer beware

Declaration of all material Information about the subject mater of insurance

 Material Information is that information which enables the insurer to

decide:
a) whether he will accept the risk and;
b) if so, at what rate of premium and subject to what terms and
conditions
 Breach of duty of utmost good faith arises in two ways:
a) Non-disclosure of material facts- oversight, proposer thought
it‘s not essential etc.
b) Misrepresentation- Intentional.

Insurable Interest
The legal right enjoyed by the owner of a property to insure is called
‗Insurable Interest‘. The insurance will become null and void, without the
insurable interest.

Indemnity

The principle of Indemnity states that under the policy of insurance, the
insured has to be placed after the loss in the same financial position in which
he was immediately before the loss.

• Applicability:
o When the losses suffered by the insured can be measured in
terms of money
o It is practicable to place the insured in the same financial
position which he occupied before the loss
• In Marine Cargo where valued polices are issued, there is only
commercial indemnity- the value declared for insurance is accepted at the
time of loss.

Subrogation

Transfer of rights and remedies from the insured to the insurer who has
indemnified the insured in respect of the loss.
 Contribution

The right of insurers who have paid a loss under a policy to recover a
proportionate amount from other insurers, who are liable for the same loss.

Proximate Cause

The active efficient cause that sets in motion a train of events which brings
about a result without intervention of any force started and working actively
from a new independent source.

Classification of Insurance

Life insurance is the cover for the risks the we are run during our lives.
It protects from the contingencies that could effect us. Life insurance is
not for the person who passes way but it is for the person who survives.

Type of Life Insurance Polices

 • Endowment Policy-A type of life insurance that is payable to
the insured if he/she is still living on the policy's maturity date, or to
a beneficiary otherwise. but if the endowment period is complete.
• Whole Life Policy-A typical whole life policy runs as long as the
policyholder is alive. In other words, the risk is covered for the entire life
of the policyholder, which is why they are know as whole life policies.
• Limited Payment Life Policy-You pay a premium for a
predetermined number of years and you have your policy for the rest of
your life.
• Joint Life Policy-Joint life policies are similar to endowment policies
in as much as these policies also offer maturity benefits to the
policyholders, apart form covering the risks as all life insurance policies.
• Term life policy-covers risk for selected period.
• Money back policy- same as endowment policy but difference is that
in money back policy the assured person claim the insurance when the
contingency happens and get full amount of insurance.
• Group insurance policy- these are with low premiums and insurance
done in a group like employee insurance and labour insurance.
• Pension plan or Annuity- it is different from others because it does
not provide the life insurance but It provides guaranteed income for life.

General insurance
Almost everything that has financial value in life and has a probability of
getting lost , stolen can be covered under general insurance….

like Home,motor,travel.health.

Fire insurance :
Fire insurance is a form of property insurance which protects people from
the costs incurred by fires. When a structure is covered by fire insurance,
the insurance policy will pay out in the event that the structure is
damaged or destroyed by fire. Some standard property insurance policies
include fire insurance in their coverage, while in other cases, fire
insurance may need to be purchased separately. Property owners should
check with their insurance companies if they are not sure whether or not
fire insurance is part of their policies, and if fire insurance is not included,
it should be purchased.

Marine insurance:
 It covers the loss or damage of ships, cargo, terminals, and any transport
or cargo by which property is transferred, acquired, or held between the
points of origin and final destination..

Cargo insurance — discussed here — is a sub-branch of marine insurance,

though Marine also includes Onshore and Offshore exposed property (container
terminals, ports, oil platforms, pipelines); Hull; Marine Casualty; and Marine
Liability.

Motor insurance:
Vehicle insurance (also known as auto insurance, GAP insurance, car
insurance, or motor insurance) is insurance purchased for cars, trucks,
motorcycles, and other road vehicles. Its primary use is to provide financial
protection against physical damage and/or bodily injury resulting from traffic
collisions and against liability that could also arise there from. The specific
terms of vehicle insurance vary with legal regulations in each region. To a lesser
degree vehicle insurance may additionally offer financial protection against
theft of the vehicle and possibly damage to the vehicle, sustained from things
other than traffic collisions.

Insurance in India

The Government. India is regarded as under - insured country with

insurance p e n e t r a t i o n a t a v e r y l o w l e v e l o f 0 . 6 % o f G D P .
I n s u r a n c e , a s a r u l e , h a s always been given very low priority by
corporate India. It is always taken with reluctance, usually only when it is
compulsory, and then only by big industrial houses. Without exception it is
always inadequate to meet the needs of the corporate sector. In
addition to the tradition exposure of fire, floods, workers
compensation and the interruption, Corporate India also has
t o a d d r e s s unpredictable changes in areas such as environment; security;
occupational health and safety; public liabilities; Directors and Officers
Liability and product l i a b i l i t y I t t h e r e f o r e b e c o m e s q u i t e o b v i o u s
t h a t p u r c h a s e o f i n s u r a n c e , i n itself, will not substitute for a
soundly based and property implemented Risk Management Program
as insurance can only offer some financial relief by replacing the plants;
it cannot replace the loss in development of a business or development of the
market.

The likely private players in India:

A number of foreign insurance companies have set up representative office in
India and have also tied up with various asset management companies. They
have either signed Memorandum of Understanding with Indian companies
or are trying to do the same. A few of them have been around for the last four to
five years. Some have carried out extensive research on the Indian insurance
sector. Others have set up liaison offices. All of them are waiting
with bated breathe for the opening up of the sector and taking a bite
of the great Indian Insurance pie.

Various Players Presents In The Market

1.Bajaj Allianz Life Insurance Company Limited.

2.Birla Sun Life Insurance Co. Ltd.

3.HDFC Standard Life Insurance Co. Ltd.

4.ICICI Prudential Life Insurance Co. Ltd.

5.ING Vysya Life Insurance Company pvt. Ltd.

6.Life Insurance Corporation of India.

7.Max New York Life Insurance Co. Ltd.

8.Kotak Mahindra Old Mutual Life Insurance Limited.

9.SBI Life Insurance Co. Ltd.

10. Tata AIG Life Insurance Company Limited.

11.Reliance Life Insurance Company Limited.

12.Aviva Life Insurance Co. India Pvt. Ltd.

13.Sahara India Life Insurance Co. Ltd.

14.Shriram Life Insurance Co. Ltd.
IRDA

(INSURANCE REGULATORY AND DEVELOPEMNT

AUTHORITY)
• In 1993 Government setup a committee under chairmanship of RN
Malhotra ,former Governor of RBI for reforms in Insurance sector.
• Recommendations are :-
• IRDA was constituted as an autonomous body to regulate and develop
the insurance industry.
• Foreign companies are allowed up to 26% of paid up capital and can
operate with an Indian company.

Composition of Authority under IRDA Act, 1999

• The Authority is a ten member team consisting of

(a) a Chairman;
(b) five whole-time members;
(c) four part-time members

Duties, Powers and Functions of IRDA

 To regulate, promote and ensure orderly growth of the insurance business
and re-insurance business.
 Issue to the applicant a certificate of registration, renew, modify,
withdraw, suspend or cancel such registration .
 Protection of the interests of the policy holders in matters concerning
assigning of policy, nomination by policy holders, insurable interest,
settlement of insurance claim, surrender value of policy and other terms
and conditions of contracts of insurance;
 Specifying requisite qualifications, code of conduct and practical training
for intermediary or insurance intermediaries and agents.
 Specifying the code of conduct for surveyors and loss assessors.
 Promoting efficiency in the conduct of insurance business.
 Levying fees and other charges for carrying out the purposes of this Act
 Calling for information from, undertaking inspection of, conducting
enquiries and investigations including audit of the insurers,
intermediaries.
 Control and regulation of the rates, advantages, terms and conditions that
may be offered by insurers in respect of general insurance business .
  Specifying the form and manner in which books of account shall be
maintained and statement of accounts shall be rendered by insurers and
other insurance intermediaries.
 Regulating investment of funds by insurance companies.
 Regulating maintenance of margin of solvency
 Adjudication of disputes between insurers and intermediaries or
insurance intermediaries.

Registration under IRDA

• The application accompanied by:-
• A certified copy of memorandum and article of association.
• Name, address and occupation of Directors.
• A statement of the classes of insurance business done/to be done along
with a statement of deposits with the Reserve Bank of India.
• For life business , a sum equivalent to 1% of total gross premium not
exceeding 10 crore written in India in any Financial year.
• For General business 3% of total gross premium not exceeding 10 crore.
• Reinsurance business Rs.20 crore; Rs.100,000.
• For cooperative life insurance business / assurance companies should be
Rs.2 lakh.
• A declaration verified by an affidavit by the principal officer of the
insurer that the requirement of paid up capital (Rs. 100 crore and Rs.200
crore for life/general and reinsurance business, respectively) Rs. 250
crore for reinsurance business or working capital.
• A certified copy of the Published prospectus if any and,
• Standard policy forms of the insurer and statements of the insurer and
statements of the assured rates, advantages, terms and conditions to be
offered in connection with insurance policies, together with a certificate
in connection with life business by an actuary.
• The receipt showing payment of fee (as determined by IRDA regulation)
not exceeding Rs.50,000 for each class of business.
• Such other document as may be specified by IRDA.

The Life insurance scenario in India

The Life Insurance Corporation of India (LIC), a public sector enterprise, is the
largest insurance company in India, selling insurance products and related
services.

In March 2001, LIC had a total asset base of Rs 1936.2 billion and a total
premium income of Rs 342.07 billion. By April 2002, the total sum assured
under 23.2 million policies stood at Rs 1925.7 billion. LIC had a variety of
insurance plans to cater to various categories of people and their diverse needs.

The company offered life insurance and

group insurance. It also provided social
security schemes and pension schemes.
Each of its business products offered a
variety of different plans to suit different
customers and situations. Investment in
LIC was considered by a majority of its
customers to be reliable and secure.

Housing loans were granted through its

subsidiary and LIC sold its market
savings and investment products through
its mutual fund subsidiary, LIC Mutual
Fund Ltd. To serve its 140 million
policyholders (2001 end), the insurance
giant had 1.25 lakh employees and 6.51
lakh agents across the country.

The company, which was based in Mumbai, had seven zonal offices, 100
divisional offices, and 2,048 branch offices that spanned the country. LIC's
penetration in rural areas was very high; 18% of its total business came from
rural areas.

Since LIC enjoyed monopoly status for over four decades, it emerged as one of
the key public fundraisers in India. However, things began changing in the mid-
1990s, when the Government of India decided to privatize the insurance sector.

The Malhotra committee's (formed to explore the possibility/feasibility? of

privatizing the Indian insurance industry) recommendations in 1994 brought
about a sea change in the industry.

LIC found itself in a difficult situation when the newly formed Insurance
Regulatory Development Authority (IRDA) issued licences to many private
insurance companies (starting November 2000).

To sustain its growth in an intensely competitive environment, the company, on

the recommendations of Booze, Allen and Hamilton, started initiated
organizational changes and became more customer-focussed initiatives.
The company's attitude towards the changing insurance scenario was
summarized by its Managing Director, N C Sharma, "The element of
competition will bring out the best (in us)."

Scope of insurance

We all know that assets are insured, because they are likely to be destroyed
or made nonfunctional before the expected life time, through accident
occurrences. Such possible occurrences are called perils. Perils are the
events. Risks are the consequential losses or damages. The risk to an owner
of a building may be a few lakhs or a few crores of rupees, depending on the
cost of building, the contents in it and the extent of damage. The risk only
means that there is a possibility of loss or damage. Insurance is done against
the possibility that the damage may happen. There has to be an uncertainty
about the risk. The word ―possibility‖ implies uncertainty. Insurance is
relevant only if there are uncertainties.
Insurance does not protect the asset. It does not prevent its loss due to
the peril. The peril cannot be avoided through insurance. The risk can
sometimes be avoided, through better safety and damage control measures.
It only tries to reduce the impact of the risk on the owner of the asset and
those who depend on that asset. They are the ones who benefit from the
asset and therefore, would lose, when the asset is damaged. Insurance
compensates for the losses- and that too, not fully.
In conclusion we can say that the scope of insurance is very broad
and specific because it reduces the losses and risk of owner of the assets due
to perils. It also gives supports to the person in the period of adverse
situation. It insured economic consequences. When a person saves, the
amount of funds available at any time is equal to the amount of money set
aside in past, plus interest. Insurance has no substitute and one more thing
about the insurance is that this is not similar to a hire purchase scheme. In
the event of death, the balance installments are not excused. They have to be
paid by the surviving family. There is a tax benefits, both in income tax and
in capital gins. Marketability and liquidity are better. Life insurance is not
only the best possible way for family protection there is no other way. The term
of life is hard but the terms of insurance are easy.
OBJECTIVES OF STUDY

 To study the products available in the market.

 Recruiting financial consultants for HDFC standard life insurance.

 To study the foreign players in insurance sector.

 To know the awareness of prospect customers about insurance products.

 To analyze strengths weakness opportunity and threats of organization.

 To know the perception of the people about insurance industry.

 To know the interest of the people to work in insurance sector.

 To determine the use of internet for the valuable information and decision making
process.

 To know the most preferred policy

 To study the types of benefits provided by insurance services

 To determisne reasons behind opting an insurance .

 Scope of the study

A big boom has been witnessed in insurance industry in recent times. A large number of new
players have entered the market and are vying to gain market share in this rapidly improving
market.

The study deals with HDFC standard life in focus and the various segments that it caters to.
The study then goes on to evaluate and analyse the findings so as to present a clear picture of
trends in the insurance sector.

I found that most of person can join insurance company for saving
taxes, unlimited earning, life time earning with little effort, which will give
him back support as a HEAD of the family in the diverse situation.

This project will help to understand the current market scenario and
marketing in stiff competition. Being a student of management I can draw
the relevant conclusion from the market survey and give the appropriate
suggestion to the organization.
Company Profile :
HDFC Standard Life Insurance Company Ltd:-It was incorporated on 14th
august 2000. It is a joint venture between Housing Development Finance
Corporation Limited (HDFC Ltd.) India And UK based Standard Life
Company. Both the joint venture partners being one of the leaders in their
respective areas came together in this 81.4:18.6 joint venture to form HDFC
Standard LifeInsurance Company Limited.

• Mr. Deepak Satwalekar is the MD and CEO of the venture.

• HDFC Standard Life Insurance Corporation is sure to become one of the

leaders and the first preference for any life insurance customer.

HDFC Life, one of India's leading private life insurance companies, offers a
range of individual and group insurance solutions. It is a joint venture between
Housing Development Finance Corporation Limited (HDFC), India's leading
housing finance institution and Standard Life plc, the leading provider of
financial services in the United Kingdom.

HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds
26.00% of equity in the joint venture, while the rest is held by others.

HDFC Life's product portfolio comprises solutions, which meet various

customer needs such as Protection, Pension, Savings, Investment and Health.
Customers have the added advantage of customizing the plans, by adding
optional benefits called riders, at a nominal price. The company currently has 25
retail and 9 group products in its portfolio, along with 10 optional rider benefits
catering to the savings, investment, protection and retirement needs of
customers.

HDFC Life continues to have one of the widest reaches among new insurance
companies with about 500 branches in India touching customers in over 900
cities and towns. The company has also established a liaison office in Dubai.
HDFC Life has a strong presence in its existing markets with a strong base of
Financial Consultants.
Why HDFC Life?

Introduction:
HDFC Life believes that establishing a strong and ethical foundation is an
essential prerequisite for long-term sustainable growth. To ensure this, we have
concentrated our focus on expansion of branch network, organising an efficient
and well trained sales force, and setting up appropriate systems and processes
with optimum use of technology. As all these areas form the basic infrastructure
for establishing the highest possible customer service standards.

HDFC Life‘s core values are drilled down to all levels of employees, as these
are inviolable. We continue to promote high integrity in business practices and
shun short cuts and unethical practices, as we wish to be perceived as an
institution with high moral standing. Since our inception in 2000, when the
Indian insurance space was opened for private participation, we have
consistently focused on setting benchmarks in all aspect on insurance business.
Being the first private player to be registered with the IRDA and the first to
issue a policy on December 12, 2000.

Strong Promoter :
HDFC Life is a strong, financially secure business supported by two strong and
secure promoters - HDFC Ltd and Standard Life. HDFC Ltd's excellent brand
strength emerges from its unrelenting focus on corporate governance, high
standards of ethics and clarity of vision. Standard Life is a strong, financially
secure business and a market leader in the UK Life & Pensions sector.

Preferred and trusted Brand:

HDFC‘s brand has managed to set a new standard in the Indian life insurance
communication space. We were the first private life insurer to break the ice
using the idea of self-respect instead of 'death' to convey our brand proposition
(Sar Utha Ke Jiyo). Today, we are one of the few brands that customers
recognize, like and prefer to do business. Moreover, our brand thought, Sar
Utha Ke Jiyo, is the most recalled campaign in its category.

Need-Based selling approach:

Despite the criticality of life insurance, sales in the industry have been
characterized by over reliance on tax benefits and limited advice-based selling.
Our eight-step structured sales process 'Disha' however, helps customers
understand their latent needs at the first instance itself without focusing on
product features or tax benefits. Need-based selling process, 'Disha', the first of
its kinds in the industry, looks at the whole financial picture. Customers see a
plan not piecemeal product selling.

Risk control framework:

HDFC Life has fully implemented a risk control framework to ensure that all
types of risks (not just financial) are identified and measured. These are
regularly reported to the board and this ensures that the company management
and board members are fully aware of any risks and the actions taken to ensure
they are mitigated

Focus on Training:
Training is an integral part of our business strategy. Almost all employees have
undergone training to enhance their technical skills or the softer behavioural
skills to be able to deliver the service standards that our company has set for
itself. Besides the mandatory training that Financial Consultants have to
undergo prior to being licensed, we have developed and implemented various
training modules covering various aspects including product knowledge, selling
skills, objection handling skills and so on.

Focus on long-term value:

HDFC Life do not focus in the business of ramping up the topline only, but to
create maximisation of stakeholder's value. Today, we are extremely satisfied
with the base that we have created for the long-term success of this company.

Transparent Dealing:
HDFC life are one of the few companies whose product details, pricing, clauses
are clearly communicated to help customers take the right decision

Strict compliance with Regulations:

HDFC life has initiated and implemented many new processes, some of which
were found useful by the IRDA and later made mandatory for the entire
industry.The agents who successfully completed this training only, were
authorized by the company to sell ULIPs. This has now been made compulsory
by IRDA for all insurance companies under the new Unit Linked Guidelines.

Diversified product portfolio:

HDFC Life's wide and diversified product portfolio help individuals meet their
various needs, be it:
 Protection: Need for a sound income protection in case of your
unfortunate demise
Investment: Need to ensure long-term real growth of your money
Savings: Save for the milestones and protect your savings too
Pension: Need to save for a comfortable life post retirement
Health: Cover for health related exigencies

Parentage

HDFC Limited
HDFC Limited, India's premier housing finance institution has assisted more
than 4 million families own a home, since its inception in 1977 across 2400
cities and towns through its network of over 311 offices. It has international
offices in Dubai, London and Singapore with service associates in Saudi Arabia,
Qatar, Kuwait and Oman to assist NRI's and PIO's to own a home back in India.
As of March 2012, the total asset size has crossed more than Rs. 1.67 trillion
including the mortgage loan assets of more than Rs.1.40 trillion. It is also the
largest mobiliser of retail deposit outside the banking system.

Customer Service and satisfaction has been the mainstay of the organization.
HDFC has set benchmarks for the Indian housing finance industry. Recognition
for the service to the sector has come from several national and international
entities including the World Bank that has lauded HDFC as a model housing
finance company for the developing countries. HDFC has undertaken a lot of
consultancies abroad assisting different countries including Egypt, Maldives,
Mauritius, Bangladesh in the setting up of housing finance companies.

Standard Life
Established in 1825, Standard Life is a leading long term savings and
investment company, with around six million customers worldwide. By
understanding and offering innovative products to meet its customers' needs,
Standard Life helps people with their financial planning, so they can feel more
confident about the future.

Standard Life offers a range of individual and group pensions, SIPPs, ISAs,
annuities, life assurance, offshore bonds, investment management, wealth
management, tax planning and estate management services. Standard Life has
created a dedicates website for employers, trustees and intermediaries
workbenefitszone.com.
Standard Life is headquartered in Edinburgh and employs around 9,000 people
across the UK, Canada, Ireland, Germany, Austria, India, USA, Hong Kong and
mainland China. At the end of March 2012 the Group had total assets under
administration of £206.8bn. Standard Life plc is listed on the London Stock
Exchange and has approximately 1.5 million individual shareholders in over 50
countries around the world. Standard Life plc is listed in the Dow Jones
Sustainability Indexes (DJSI World) in recognition of its performance as one of
the world's leading sustainability-driven listed companies.

Standard Life is proud to support basketball in the UK. It has partnered with
British Basketball to sponsor the Standard Life GB Men's, Women's, Under 20
Men's and Under 20 Women's teams and their home games. It has also
partnered with British Wheelchair Basketball to sponsor the Standard Life GB
Men's and Women's Wheelchair Basketball Teams and their home games. The
GB Men's and the GB Women's Basketball and Wheelchair Basketball Teams
have qualified for the Olympic Games in 2012.

Vision & Values

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

'The most obvious choice for all'.

For retention in the market and highest market share, we need trust of our
customer. The customer should trust on our policies, services, employee and
they should be friendly with us.

Our Values
Values that we observe while we work:

Integrity:
HDFCSL belives in honest and truthfulness in every action. Transparency
in Dealing with customers. It is stick to principles irrespective of
outcome. When we work in HDFCSL then we observed that its rules And
activity of every person in the Oranization is Just and fair to every one.

Innovation:
 It is the process of building a store house of treasures through
experiences.
Lots of product is going to be launched by the competitors. So it is very
important to look every product and process through fresh eyes everyday.
It is the significant part of the business that attract the customers.

Customer centric:
Customer becomes the main properties of any organization. Whatever
work done by the organization runs around the expectations of the
customers. Customer becomes centre point of the organization and the
main focus of the organization becomes to understand his expectations by
keeping him as the centre point. It gives more focus on customers activity
and saying. It tries to understand customer needs and deliver solutions . as
to we know that the market is changed . lots of competitors is here who
search chance to increase their market share and entice your customer so
customer interest become always supreme.

People Care:
Genuinely try to understand those people who are working with
HDFCSL. It guides their development through training and support. It
helps them to develop their requisite their skills so that they can reach
their true potential. It tries to know them on a personal front because it
works as performance appraisal . it try to create an environment of trust
and openness so that all people who are working here behave friendly and
helps to each other because team work is most important for getting
success and give respect for time of others.

Team work "One for all and all for one":

Here whole team takes the responsibility of the deliverables. It consults
all involved in the work and try to understand their opinion and then
arrive at a common objective. There is a cooperation and support across
departmental boundaries. It identifies strengths and weaknesses
accordingly allocate responsibility to achieve common objectives.

Team work helps everyone to achieve more. It adds joy at work place
which add interest in work and new stamina in the work. It generates synergy
and provides a focused approach. When an idea or activity performed in a
group, it has greater acceptability. ―Team work proves one for and all for one‖.
 Joy and Simplicity:
It believes in joy and simplicity so that people in the organization will be
more dedicated towards work and they will give more business to the
organization. Work with joy and simplicity brings creativity and new
imagination which also brings new innovative ideas that promote
competitive advantage to the organization.

Features Of The Product & Benefits

1. Accidental Death Benefit (ADB)

2. Critical Illness (CI) Benefit

3. Double Sum Assured (DSA) Benefit

4. Waiver of Premium (WOP) Benefit

5. Accelerated Sum Assured (ASA)

6. Term Assurance Plan

7. Money Back Plan

8. Endowment Assurance Plan

9. Loan Cover Term Assurance

10.Group Term Insurance (GTI)

1. Accidental Death Benefit (ADB):-ADB provides an additional

amount equal to the basic sum assured (SA) in case of the death of the
policyholder due to an accident, within 90 days of the accident.

2. Critical Illness (CI) Benefit:-CI provides an additional amount

equal to the SA on diagnosis of the any one of the 6 specified critical
illnesses --- cancer, coronary artery bypass graft surgery, heart attack,
kidney/renal failure, major organ transplant (as recipient) and stroke. The
sum assured is payable if the policy holder survives for 30 days after the
date of the claim.
3. Double Sum Assured (DSA) Benefit:-DSA provides an additional
amount equivalent to the basic SA in case of the death of the policyholder

4. Waiver of Premium (WOP) Benefit:-WOP basically waives the

premium in case the policyholder becomes totally disabled. However, the
waiver is applicable only during the period of the disability.

5. Accelerated Sum Assured (ASA):-Upon diagnosis of any of the

specified six critical illnesses, ASA provides an amount equal to the
amount payable on death.

6. Term Assurance Plan:-The SA is payable in the case of the death of

the policyholder during the term but on survival, there are no maturity
benefits. This is insurance in its purest form --- highest cover at lowest
cost.

7. Money Back Plan:-This plan pays periodic cash lump sums during the
tenure of the policy. The lump sums, essentially a proportion of the basic SA
are paid at 5-year intervals. On survival, the basic SA plus bonus less the
cash lump sums paid earlier are provided. However, in the case of the
demise of the policyholder, the basic SA plus any bonus is provided to the
family.

8. Endowment Assurance Plan:-As is normal with all endowments, on

the death of the life assured during the term, the beneficiary will get the SA.
On survival, the policyholder gets the SA.

9. Loan Cover Term Assurance:-This is a unique product meant as a

safety net in case one has taken a loan to buy a house. It is designed to help
the family repay the outstanding loan in the case of the death of the
breadwinner.

10. Group Term Insurance (GTI) :-HDFC Standard Life also offers
GTI, meant essentially for employees of an organization. GTI is extremely
convenient for an employer as he can take insurance for all or certain
categories of employees.
COMPETITORS:-
ADVERTISEMENT AND SALES PROMOTION:-
Board Members

Brief Profile of The Board of Directors:

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

Chairman and Director of Housing Development Finance Corporation Limited
(HDFC Limited). He joined HDFC Limited in a senior management position in
1978. He was inducted as a whole-time director of HDFC Limited in 1985 and
was appointed as its Chairman in 1993. Mr. Parekh is a Fellow of the Institute
of Chartered Accountants (England & Wales).

Mr. Keki M. Mistry joined the Board of Directors of the Company in

December, 2000. He is currently the Vice Chairman and Chief Executive
Officer of HDFC Limited. He joined HDFC Limited in 1981 and became an
Executive Director in 1993. He was appointed as its Managing Director in 2000.
Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a
member of the Michigan Association of Certified Public Accountants.

Ms. Renu S. Karnad is the Managing Director of HDFC Limited. She is a

graduate in Law and holds a Master's degree in Economics from Delhi
University. She has been employed with HDFC Limited since 1978 and was
appointed as the Executive Director in 2000 and Deputy Managing Director in
2007. She is responsible for overseeing all aspects of lending operations of
HDFC Limited

Mr. David Nish joined Standard Life on 1st November 2006 as Group
Finance Director and remained in that position until December 2009. He is the
Chief Executive at Standard Life Plc. In 2000 he was awarded the Scottish
Business Awards Finance Director of the Year and from 2004 to 2005 he served
on the Government Employers Pension Task Force. He is a member of the
Institute of Chartered Accountants of Scotland. He joined the Board of
Directors in February 2010.

Mr. Nathan Parnaby is appointed as the Chief Executive, Europe & Asia
of Standard Life in the year 2010. Nathan joined Standard Life in 1982 as
Investment Manager, responsible for all UK net funds. He was appointed a
Director of the Standard Life Investments‘ board. He is a Mathematics graduate
from Oxford University and the Member of the Securities Institute. He joined
the Board of Directors in December 2009.

Mr. Norman K. Skeoch is currently the Chief Executive in Standard Life

Investments Limited and is responsible for overseeing Investment Process &
Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with
M/s. James Capel & Co. holding the positions of UK Economist, Chief
Economist, Executive Director, Director of Controls and Strategy HSBS
Securities and Managing Director International Equities. He was also
responsible for Economic and Investment Strategy research produced on a
worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005.
Mr. Skeoch is a Fellow of the Securities Institute, Fellow of the Royal Institute
for the Encouragement of the Arts, Manufacture and Commerce, BA, MA

Mr. Gautam R. Divan is a practising Chartered Accountant and is a Fellow

of the Institute of Chartered Accountants of India. Mr. Divan was the Former
Chairman and Managing Committee Member of Midsnell Group International,
an International Association of Independent Accounting Firms and has authored
several papers of professional interest. Mr. Divan has wide experience in
auditing accounts of large public limited companies and nationalised banks,
financial and taxation planning of individuals and limited companies and also
has substantial experience in structuring overseas investments to and from
India.

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards

on Strategy and Change Management. Mr. Pant, until 2002 was a Partner &
Vice-President at Bain & Company, Inc., Boston, where he led the worldwide
Utility Practice. He was also Director, Corporate Business Development at
General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from
The Wharton School and BE (Honours) from Birla Institute of Technology and
Sciences.

Mr. Ravi Narain is the Managing Director & CEO of National Stock
Exchange of India Limited. Mr. 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). Mr.
Ravi Narain is a Cambridge University-trained Economist and an MBA from
Wharton School, University of Pennyslvania, USA

Mr. A. K.T. Chari has joined HDFC Standard Life as a Director on March
10, 2010. Mr. Chari has completed his Electrical Engineering from Madras
University in 1962. He is associated with Infrastructure Development Finance
Company Ltd. (IDFC) for last 11 years. Currently he is handling project finance
for infrastructure projects at IDFC. Prior to this he was associated with
Infrastructure Development Bank of India (IDBI) from 1975 to 1999.

Dr. S. A. Dave is a Doctorate of economics and holds a Master‘s degree in

economics from the University of Rochester. Dr. Dave is the former chairman
of the Securities and Exchange Board of India and the Unit Trust of India. Dr.
Dave is currently the chairman of the Centre for Monitoring Indian Economy
and a director on the boards of many prominent companies in India. He is
appointed as Additional Director of the Company from April 26, 2012.

Mr. Gerald E. Grimstone was appointed Chairman of Standard Life in

May 2007, having been Deputy Chairman since March 2006. He became a
director of the Standard Life Assurance Company in July 2003. He is also
Chairman of Candover Investments plc and was appointed as one of the UK‘s
Business Ambassadors by the Prime Minister in January 2009. Gerry held
senior positions within the Department of Health and Social Security and HM
Treasury until 1986. He then spent 13 years with Schroders in London, Hong
Kong and New York, and was Vice Chairman of Schroders‘ worldwide
investment banking activities from 1998 to 1999. He is the Alternate Director to
Mr. David Nish. He has completed Master of Arts, Master of Science in
Chemistry, Merton College, Oxford University and NATO-CCMS Fellowship
Wolfson College, Oxford University.

Mr. Michael G Connarty is responsible for Standard Life's investments in

life assurance Joint Ventures in India and China. He holds a degree in Law and
MBA. He has worked with Standard Life for 33 years in managerial positions
covering a number of fields such as Pensions law, International Marketing,
Operational Management, Strategy, Risk, Compliance, Company Secretarial
and Banking He has acted as Project Manager for the start-up project of the
Company in 2000. He is the Alternate Director to Mr. Norman K. Skeoch.
 Policies

SN. Name of policy Age limit Term Benefits Products of

limit
life insurance

1 HDFC children’s plan 18-60 10-25 Accelerat Whole life

ed,
maturity,
choose
seven
target

2 HDFC saving Assurance plan 18-50 10-30 Flexibilit Whole life

y,
protectio
n, no
medicals,

3 HDFC personal plan 35-60 10- Choose Whole life

40(R)

5-15(S)
4 HDFC immediate annuity Life time 15yr. Death Whole life
or over a benefit
period

5 HDFC single premium 18-70 Death Whole life

benefit
6 HDFC Premium Guarantee 18-55 10-30 Maturity Whole life
Plan benefit
(Waiver
of
premium
)

Products

(1) Term Plans

Term plans help you shield your family from uncertainties in life due to
financial losses in terms of loss of income that may dawn upon them incase of
your untimely demise or critical illness. Securing the future of one's family is
one of the most important goals of life. Term Plans go a long way in ensuring
your family's financial independence in the event of your unfortunate demise or
critical illness. They are all the more important if you are the chief wage earner
in your family. No matter how much you have saved or invested over the years,
sudden eventualities, such as death or critical illness, always tend to affect your
family financially apart from the huge emotional loss.

Types of Term Plans

HDFC Click 2 Protect

Looking for an easier way to insure yourself and secure your loved ones
happiness? You know that the solution is a term insurance plan and you seek a
plan that is convenient to buy and is affordable. Your search ends here. HDFC
Life is happy to present the perfect plan for your protection needs HDFC Life
Click 2 Protect! HDFC Life Click 2 Protect is a term insurance plan. This plan
provides for a payment of a lump sum in the event of your unfortunate death
during the policy term.

Advantages
Buy this plan at click of button , anytime & anywhere
High cover at a very nominal cost.
Flexibility to choose the Sum Assured and policy term
Attractive premium rates for Non tobacco user and those with healthier
lifestyle.
 Tax benefits under sections 80Cand 10(10D) of Income Tax Act, 1961.

HDFC Premium Guarantee Plan

HDFC Premium Guarantee Plan is an insurance plan that comes with twin
advantage of protection and return of premiums* on maturity. So, you can enjoy
life knowing that your family‘s financial independence is secure even in your
absence. And your premiums are yours on your survival at maturity.

Advantages
High cover at a very nominal cost.
Flexibility to choose the Sum Assured.
Return of all your premiums paid on maturity*
Tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961.

HDFC Loan Cover Term Assurance Plan

Term Assurance plan is designed to help secure your family's financial

needs in case of uncertainties. The plan does this by providing a lump sum to
the family of the life assured in case of death or critical illness (if option is
chosen) of the life assured during the term of the contract. One can choose the
lump sum that would replace the income lost to one's family in the unfortunate
event of one's death. This helps your family to maintain their financial
independence, even when you are not around.

Advantages
High cover at a very nominal cost.
Flexibility to choose the Sum Assured.
Additional benefit options can be availed at marginal costs.
Premium amount remains the same over the term of the policy in case of
regular premium
Option of paying single premium or regular premium.
Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act,
1961

HDFC Home Loan Protection Plan

This plan aims to protect your family from your loan liabilities in case of your
unfortunate demise within the policy term. It ensures that your family does not
lose the dream house that you have purchased for them, in case you are not
around to repay the outstanding monthly installments on your housing loan.
This provides you with the comfort of knowing that in your absence, a sum of
money will be available towards repaying your housing loan, making sure that
your family will be secure in your family home.

Advantages
A decreasing Sum Assured payable if you die during the term of the
contract. This sum assured is intended to help pay-off your outstanding
home loan
Policy can be availed by paying a single premium in advance
The premium amount can be included in the housing loan and repaid as
part of the loan repayment installments
Decreasing Sum Assured makes sure that you do not pay for protection
you don't need

(2) Children's Plans

Children's Plans helps you save so that you can fulfill your child's dreams
and aspirations. These plans go a long way in securing your child's future
by financing the key milestones in their lives even if you are no longer
around to oversee them. As a parent, you wish to provide your child with
the very best that life offers, the best possible education, marriage and life
style.

Most of these goals have a price tag attached and unless you plan your
finances carefully, you may not be able to provide the required economic
support to your child when you need it the most. For example, with the
high and rising costs of education, if you are not financially prepared,
your child may miss an opportunity of a lifetime.

Types of Children's Plans

 HDFC SL Young Star Super II

There is no bigger joy than being able to fulfill your child's dream on your own.
With HDFC SL Young Star Super II you can fulfill your child's immediate and
future needs. So tomorrow when your child needs your support you don't have
to depend on anyone else. This is a ULIP which aims to help you achieve long
term savings.

Advantages
In case of your unfortunate demise or critical illness, we will pay the greater of
Sum Assured (less partial withdrawals) or Fund Value to your child
(Beneficiary). The policy will terminate. We will pay 100% of all the future
regular premiums to the Beneficiary as and when due, on an annual basis.
Please refer to the sales brochure for details.

You can customize the ideal plan for your child by choosing the premium
you wish to invest along with the Sum Assured, depending on the level of
protection required.
This plan can be taken by filling Short Medical Questionnaire, which may
not require you to go for medicals. Kindly refer to the product brochure
for details.
You can change your investment fund choices in two ways:
o Switching: You can move your accumulated funds from one fund
to another anytime
o Premium Redirection: You can pay your future premiums into a
different selection of funds, as per your need
Tax benefits are offered under section 80C and 10(10D) of the Income
Tax Act, 1961

 HDFC SL Young Star Super Premium

With HDFC SL YoungStar Super Premium you can fulfill your child's
immediate and future needs- all on your own. Start saving now with this unit
linked insurance plan and be assured that savings for your child will continue,
even in your absence. This ULIP plan offers you choice of cover options and
benefit payment preferences- all designed to suit your needs.

Advantages
The Triple Insurance Benefit helps you secure your child's immediate and
future needs. In case of your unfortunate demise or critical illness, we
 will pay the Sum Assured to your child (Beneficiary). Your family need
not pay any further premiums. With Save -n- Gain benefit ,we will pay
50% of all the original regular premiums towards your policy and 50% of
the premiums will be paid to the Beneficiary as and when due, on an
annual basis. Any Death Benefit or Critical Illness cover terminates
immediately.
You can customize the ideal plan for your child by choosing the premium
you wish to invest along with the Sum Assured, depending on the level of
protection required and Benefit payment preference.
This plan can be taken by filling Short Medical Questionnaire, which may
not require you to go for medicals. Kindly refer to the product brochure
for details.
You can change your investment fund choices in two ways:
o Switching: You can move your accumulated funds from one fund
to another anytime
o Premium Redirection: You can pay your future premiums into a
different selection of funds, as per your need
Tax benefits are offered under section 80C and 10(10D) of the Income
Tax Act, 1961

(3) Women's Plans

 HDFC Life Smart Woman Plan

HDFC Life Smart Woman Plan, a unique insurance cum investment plan
designed specifically for women. This plan ensures that your savings continue,
while you adjust to the new stages of your life, and you remain confident to live
life your way.

This ULIP plan comes with comprehensive coverage options where we will
cover you against pregnancy complications and congenital conditions or for
malignant female-specific cancers. During these critical moments, we assure
you the peace of mind by waiving and funding your premiums so that as you
overcome and adjust to your life your investments continue to grow.

Advantages
Choose plan options as per your needs i.e. Classic or Premier or Elite
 Uninterrupted savings with Waiver & funding of premiums for next 3
years on the following events
o Pregnancy complications or birth of child with congenital disorder
o Diagnosis of malignant cancer of female organs
o Death of spouse (Only with Elite option)
Additional periodic cash payouts under Premier & Elite Options
This plan provides valuable protection to your family in case you are not
around. In case of your unfortunate demise during the policy term, we
will pay the greater of the Sum Assured or your total fund value to your
nominee.
On maturity, you can take the Fund Value at the prevailing unit prices as
lump sum or you can opt for settlement option. You can use the maturity
benefit to fund your needs - be it for child's education, travel, upgrading
your entrepreneurship venture etc.
You have flexibility to make partial withdrawals to meet any unplanned
expenses.

 HDFC Life Pension Super Plus Plan

You think about retirement as a time when you would travel, play with grand
kids; pursue your long forgotten interests, a time when you enjoy life more and
on your own terms. All this is possible only if you are financially prepared. The
fact that because women tend to live longer than men and tend to have lesser
savings, you have to manage the challenge of making your funds last longer-
after retirement. Simply, you need to save as much as possible for your
retirement.

HDFC Life Pension Super Plus is a unit linked pension plan for women. This
pension plan is designed to build a corpus during the policy term so that you can
enjoy post retirement

Advantages

Assured Benefit on Maturity (vesting) - At the end of the policy

term, you will receive higher of the following
o Fund Value or
o Assured benefit of 101% of all premiums including top-up
premiums paid till date
 Your maturity (vesting) benefit will be used to provide you with post
retirement income i.e. an annuity, which you have to purchase from us.

Opportunity to build corpus for post retirement income -

Your premium will be invested in exclusive fund which will allocate
assets dynamically between equities and fixed income assets.
Benefits on maturity (vesting) - At vesting, you have to purchase
an annuity from us. You can choose from a range of annuity options. You
will get guaranteed income for life for yourself and your spouse. You also
have the option to commute up to 1/3rd of the benefit at vesting tax free.
Benefit on death - In the event of demise during the policy term, your
nominee will receive the death benefit to help him or her manage their
future years.
Additional allocation of premium from 11th year onwards -
Get benefit from staying invested for longer term with Premium
Allocation Rate of 102.5% from 11th yr onwards

(4) Savings & Investment Plans

you have always given your family the very best. And there is no reason
why they shouldn't get the very best in the future too. As a judicious
family man, your priority is to secure the well-being of those who depend
on you. Not just for today, but also in the long term. More importantly,
you have to ensure that your family's future expenses are taken care, even
if something unfortunate were to happen to you.

Types of Savings & Investment Plans

 HDFC Life Sampoorn Samridhi Insurance Plan

 HDFC Endowment Assurance Plan
 HDFC SL Crest
 HDFC SL ProGrowth Super II
 HDFC SL ProGrowth Flexi
 HDFC Life ProGrowth Plus
 HDFC SL ProGrowth Maximiser
 HDFC Life Invest Wise Plan
 HDFC SL New Money Back Plan
 HDFC Single Premium Whole of Life Insurance Plan
 HDFC Assurance Plan
 HDFC Savings Assurance Plan
 Endowment Gain Insurance Plan
 ClassicAssure Insurance Plan

(5) Health plans

Health plans give you the financial security to meet health

related contingencies. Due to changing lifestyles, health
issues have acquired completely new dimension overtime,
becoming more complex in nature. It becomes imperative
then to have a health plan in place, which will ensure that
no matter how critical your illness is, it does not impact your
financial independence.

Types Of Health Insurance Plans

 HDFC Critical Care Plan

Critical Illness can strike anyone. Today with advancement

in medical science it is possible to survive a critical illness.
Expenses on survival with a critical illness can be very high.
HDFC Critical care plan provides for a lump sum payment
 on survival post diagnosis of a critical illness, so that in the
event a critical illness strikes, you don't have to dig into
those precious savings of yours.

 HDFC Surgi Care Plan

In the fast paced lives that we lead, medical contingencies may arrive at our
doorstep un invited. Surgery costs form a substantial portion of health care
expenditure and needs to be provided for. Health issues can get compounded if
left unattended and may require a surgery. Plus, the ever increasing costs of
surgical procedures are sure to burn a hole in our pockets.

HDFC Surgi Care Plan provides you with timely support in case you have to
undergo a major surgery and hospitalisation, as the case maybe, ensuring your
financial independence at all times.

Advantages
82 major surgical procedures are covered.
Option to include hospital cash benefit
Automatic increase in the level of health cover (subject to terms and
conditions) ensures that the increasing medical costs are taken care of.
Lump sum benefits are paid regardless of the actual medical expenses.
The policy continues even after the after the payment of first or
subsequent surgical procedures, subject to terms and conditions as stated
in the policy brochure.
Flexibility to tailor-make the policy by choosing level of health cover,
benefit options level and premium payment as per your needs.
Convenient and hassle free claims with cashless benefits on surgeries and
hospitalization in any of the network hospitals.
Tax benefits can be availed under section 80D of the Income Tax Act,
1961

Pension Plans

Retirement Plans provide you with financial security so that when your
professional income starts to ebb, you can still live with pride without
compromising on your living standards. By providing you a tool to accumulate
and invest your savings, these plans give you a lump sum on retirement, which
is then used to get regular income through an annuity plan. Given the high cost
of living and rising inflation, employer pensions alone are not sufficient.
Retirement planning has therefore become critical today.

India's average life expectancy is slated to increase to over 75 years by 2050

from the present level of close to 65 years. Life spans have been increasing due
to better health and sanitation conditions in the country. However, the average
number of years of employment has not been rising commensurately. The result
is an increase in the number of post-retirement years. Accordingly, it has
become necessary to ensure regular income for life after retirement, so that you
can live with pride and enjoy your twilight years.

Types of retirement plans

 HDFC Life Pension Super Plus Plan

You are thinking about retirement as a time when you would start relaxing, travelling,
pursuing your interests - full time. You want to enjoy your retirement on your own terms. All
of these are possible only if you have assurance of income after retirement. Investing in a
pension plan is a way to financially secure your life - after retirement.

HDFC Life Pension Super Plus is a unit linked pension plan designed to build a corpus
during the policy term so that you can enjoy post retirement income for life.

Advantages
Benefit of Assured Maturity (Vesting) Value - At the end of the policy
term, you will receive higher of the following
o Fund Value or
o Assured benefit of 101% of all premiums including top-up
premiums paid till date
Your maturity (vesting) benefit will be used to provide you with
guaranteed regular income i.e. an annuity, which you have to purchase
from us.
Opportunity to build corpus for post retirement income - Your
premium will be invested in exclusive fund which will allocate assets
dynamically between equities and fixed income assets.
Benefits on maturity (vesting) - At vesting, you have to purchase an
annuity from us. You can choose from a range of annuity options. You
will get guaranteed income for life for yourself and your spouse. You also
have the option to commute up to 1/3rd of the benefit at vesting tax free.
Benefit on death - In the event of demise during the policy term, your
nominee will receive the death benefit which will provide the much
needed financial assistance.
 Additional allocation of premium from 11th year onwards - Get
benefit from staying invested for longer term with Premium Allocation
Rate of 102.5% from 11th year onwards

 HDFC Life Single Premium Pension Super Plan

HDFC Life Single Premium Pension Super is a unit linked pension plan which will create
corpus during the policy term so that you can enjoy post retirement income for life. This plan
will safeguard your investments and assists you to live retirement days simply your way.

Advantages
Assured Benefit: At the end of the policy term, you will receive higher
of the following
o Fund Value or
o Assured benefit of 101% of single premium and top-up premiums
paid till date

Your maturity (vesting) benefit will be used to provide you with

guaranteed regular income i.e. an annuity, which you have to purchase
from us.

Opportunity to build corpus for post retirement income : Your

premium will be invested in exclusive fund which will allocate assets
dynamically between equities and fixed income assets.
Benefits on vesting : At maturity (vesting), you have to purchase an
annuity from us. You can choose from range of annuity options. You will
get guaranteed income for life for yourself and your spouse. You also
have option to commute up to 1/3rd of the benefit at vesting tax free.
Benefit on death : In the event of demise during the policy term, your
nominee will receive the death benefit, which will provide the much
needed financial assistance.

 New HDFC Immediate Annuity Plan

Everyone loves financial independence, to enjoy and live a comfortable lifestyle. There is no
reason why these should stop after retirement. After all the years of hard work, money should
not be the concern for you to decide how you would spend your retirement. A smart way to
ensure a regular income stream post retirement is buying an Annuity

HDFC Life New Immediate Annuity Plan is a non linked traditional annuity plan that
offers you various annuity options and provides you an opportunity to live life at your terms -
even after retirement.
Advantages
Guaranteed Income for life : get guaranteed income monthly/ quarterly / half yearly
/ yearly
Get Benefit of Higher Annuity Rates : The annuity rates vary by purchase price
band and therefore you would benefit from higher annuity rates if the purchase price
is Rs.250,000 and above.
Benefits on death : Certain annuity options do provide benefit on death such as
return of purchase price or annuity to your spouse. See the brochure for details

 HDFC Immediate Annuity Plan

The HDFC Immediate Annuity is a contract that uses your capital to provide you with a
guaranteed gross income through out your lifetime or over a period of your choice. This is the
perfect way to plan for your expenses after your retirement. This means you can plan your
life the way you want it to be, safe in the knowledge that your gross income will not fall
during the period you have selected. This is the perfect way to plan for your expenses after
your retirement. The HDFC Immediate Annuity,a offers a number of options to meet all your
income needs.

Advantages
Income for Temporary Period Option : You can choose to limit the
payment period of annuity if you only require an income for a specified
time. The annuity is payable for your selected term provided you are still
alive. No annuity is payable after the chosen term has expired. You can
choose to limit the payment term to between 5 and 25 years. The term
selected must be at least for one year greater than any guarantee period
Death Benefits : In addition to a regular income, you can choose an
annuity that will pay out a benefit on your death or, if you have chosen to
provide an annuity for a named individual, on the later of your and the
named individual's death. You can choose the level of death benefit:
o Full purchase price, or a proportion of the purchase price
o Capital protection option- the amount paid on death is equal to the
purchase price less the gross annuity installments already paid
under the annuity
o No death benefit is allowable where a guarantee period has been
selected. No death benefit is allowable where a Joint Life annuity
reducing on death of the first life has been selected
If you need to provide an income for someone after you die : The
HDFC Immediate Annuity can also provide an annuity for a named
individual specified in your application form. This annuity will be paid if
you die before the named individual. The amount of their annuity can be
the same as your annuity or a proportion of your annuity
Research and methodology

Objective of study

Marketing research provides information that assists and organization to define

opportunities for product development and market strategy. It works by
assessing whether marketing strategies are accurately targeted , and by
identifying market opportunities or changes that are required by customers.
Market research tends to confirm issues that are well known in the market
initially, but if planned well and effectively it will also identifies new
opportunities, market niches, or ways by which to improve slaes, marketing and
communications.
The role of market research , therefore , is to reduce uncertainity in decision
making, to monitor thr effects of decision taken, and identify the performance of
a company or a product in the market. During internship in my market survey
was related with the distribution enhancement of the insurance policies of
HDFCSL. To be more specific, we cam list five key uses for market research,
namely to:
a. Identify the size, shape and nature of a market, so as to understand
the market and marketing opportunities.
b. Investigate the strength and weaknesses of competitive products
and the level of trade support a company enjoy.
c. Test out strategic and product ideas which help to define the most
effective customer-led strategies.
d. Monitor the effectiveness of strategies.
e. It will define when marketing expenditure, promotions and
targeting need to be adjusted or improved.
The variety of purpose listed above makes it clear that market research is not
simply a ―first check‖. It is useful ahead of any action, but it also provides a
means of checking and refining views as operations proceed. Companies,
especially those for which budgets always seem tight, who have selected one of
these uses for market research are always concerned to make the research a
worthwhile investment. Best results come when their marketing and sales
planning is influenced by the results of research. In other words, when research
pays for it self by providing a basis for change and improvement in operational
matters.

Objective of project
My project is being undertaken in HDFCSL in which FC
recruitment program and distribution enhancement of insurance policies of
HDFCSL has been implemented as a marketing strategy. Hdfcsl tied up with
world class insurance products.

Primary objective

The primary objective of my project is to make or recruit financial consultant

and to increase market share of HDFCSL. In insurance sector the main work is
done by the financial consultants who bring selling for the organization. It
improves the services of the organization.

Secondary objective

In this point we can conclude the company objective which is to increase the
market share in the insurance sector and this will happens it become more
beneficiary and reliable to the customer. Customer should have faith on it . it is
trying to do it . today it comes under top 5 insurance companies. It wants to
reach on the top.

Working procedure

In my summer training I have targeted Varanasi. I have collected my data from

Varanasi. Here I have to approach various detail of insurance product of
HDFCSL and the other competitor of it, suggestions, its marketing strategy and
its advertisement. As a part of marketing research I also have to collect data in
order to find out market share of HDFCSL from our sample space. During the
period I was in constant touch with my senior and area sales manager and I have
to submit daily report of my work and full information about phone calls and
questioners. Questioners consists of open ended questions was used for
collection of the information.

Sample area

My working area was Varanasi. I have collected my data in that area only. As
we know those person will invest in insurance sector who is professional with
high salaries. I have targeted those people whose age is equal or more than 25.

Instrument used

I have collected my data from field survey and through phone calling. As I was
doing the work of recruitment officer so whenever I called for financial
consultants then I tried to fulfill my questioners.
Methods of Data collection

Data is significant part of research. Your all research is depend upon your data.
Whatever data is collected by me during the internship in the HDFCSL, I can
divide the method the collection of my data into two parts which are :-

a. primary data

Primary data are those which are collected fresh and for the
first time and thus happen to be original in chapters. I have
collected my data through phone calling and through direct
communication with respondents in one form or another or
through personal interviews. Through observation method I
was able to record the natural behavior of the group.
Sometimes I verify the truth of statements made by
informants in the context of questionnaire or a schedule.

b. Secondary data

Secondary data are those data which are being already

collected by someone else and which have already been
passed through the statistical process. I have collected my
published date from internet and the books, magazines and
newspaper.

Research design
In this project conclusive research is used. In conclusive research data was
collected by descriptive research method. The method applied in descriptive
research is cross sectional studies field work and survey. My study concerned
with the specific prediction of distribution of insurance policy. It assimilates the
narration of facts and characteristics concerning individual, group or situation.

The objective of my research is to enhance the distribution of insurance policy

of HDFCSL in market. In the market there are lots of insurance industry is
playing and trying to achieve more and more market share. For this purpose I
have done a research on it.
For this objective I have used telephone calling and field survey and go to the
institute area and try to find out the response of the public about HDFVSL and
insurance.

I have done phone calling and try to get their view about it. As I was working in
this organization as recruitment officer but regarding project I talked about the
reliability of the company, trust its insurance plan like you aware about its plan
on not and some other questions like if you are investing you money in the other
insurance company, so would you please tell me reason behind it. I had
prepared 100 questioners for the collecting data did 100 phone calls in Varanasi
region. As my research area was Varanasi.

Human resources
HR is the set of individuals who make up the workforce of an organization,
business sector or an economy. "Human capital" is sometimes used
synonymously with human resources, although human capital typically refers to
a more narrow view; i.e., the knowledge the individuals embody and can
contribute to an organization. Likewise, other terms sometimes used include
"manpower", "talent", "labor" or simply "people".

The professional discipline and business function that oversees an organization's

human resources is called human resource management

From the corporate vision, employees are viewed as assets to the enterprise,
whose value is enhanced by development.[1] Hence, companies will engage in a
barrage of human resource management practices to capitalize on those assets.

In governing human resources, three major trends are typically considered:

1. Demographics: the characteristics of a population/workforce, for

example, age, gender or social class. This type of trend may have an
effect in relation to pension offerings, insurance packages etc.
2. Diversity: the variation within the population/workplace. Changes in
society now mean that a larger proportion of organizations are made up of
"baby-boomers" or older employees in comparison to thirty years ago.
Advocates of "workplace diversity" advocate an employee base that is a
 mirror reflection of the make-up of society insofar as race, gender, sexual
orientation etc.
3. Skills and qualifications: as industries move from manual to more
managerial professions so does the need for more highly skilled
graduates. If the market is "tight" (i.e. not enough staff for the jobs),
employers must compete for employees by offering financial rewards,
community investment, etc.

The recruitment and selection is the major function of the human resource
department.

Recruitment process is the first step towards creating the competitive

strength and the strategic advantage for the organisations. Recruitment process
involves a systematic procedure from sourcing the candidates to arranging and
conducting the interviews and requires many resources and time. A general
recruitment process is as follows:

 Identifying the vacancy:

The recruitment process begins with the human resource department receiving
requisitions for recruitment from any department of the company. These
contain:

• Posts to be filled
• Number of persons
• Duties to be performed
• Qualifications required

Preparing the job description and person specification.

Locating and developing the sources of required number and type of

employees (Advertising etc).

Short-listing and identifying the prospective employee with required

characteristics.
 Arranging the interviews with the selected candidates.

Conducting the interview and decision making

Recruitment process

1. Identify vacancy

2. Prepare job description and person specification

3. Advertising the vacancy

4. Managing the response

5. Short-listing

6. Arrange interviews

7. Conducting interview and decision making

The recruitment process is immediately followed by the selection process i.e.

the final interviews and the decision making, conveying the decision and the
appointment formalities.
Recruitment of Financial Consultants (FC) in HDFC Standard
Life
Criteria for FC:-
• He should be at least 12th passed.

• He should complete IRDA training.

• He should clear the IRDA exam.

• He should through successfully the exam and training.

Some other criteria:-

• He should have good personal contacts.

• He should have convincing power.

• He should be above 18th year old.

EXCELLENT OPPORTUNITY:-
1. Flexible work timings

2. Any one can join

3. Zero Investment

4. Certificate by IRDA
 5. Attractive Remuneration

Recruitment process of FCs

Fill up of Agency form

IRDA Training (50 hrs)

IRDA

Fail Pass

Exit Product Training

Traditional Pr. ULIP

Internal Assessment

Fail pass

Exit certification
 Benefits to FCs

• Financial Benefits: Commission on issuance of every policy.

Commission directly credited to bank account of FCs within 15 days.
These commission varies from 7.5-40% according to plan.

BASIC COMMISSION

Name of the plan 1st year commission

Endowment Assurance plan 40%

Money Back plan 40%

Children’s plan 40%

Term Assurance plan 25%

Lone cover Term Assurance plan 25%

Personal Pension Plan 7.5%

RENEWAL COMMISSION:

Renewal commission would be paid from the 2nd year onwards on

regular premium policies. Renewal commission is not payable on
single premium plans.

Name of the plan Renewal commission

2nd year onwards

Endowment Assurance plan 5%

 Money Back Plan 5%

Children’s plan 5%

Lone cover Term Assurance Plan 5%

Term Assurance plan 5%

Personal Pension Plan 2%

MONTHLY & QUARTERLY CONTESTS:-

• Gift Vouchers

• Home Appliances

• Two-Wheelers

• Gold/Diamonds Jewelry

• Foreign Trips

• Mobile Phones

• Laptops

Cars etc.

Data Analysis and Interpretation

1.Age?
 Age of Respondents
15% 20% 18-23 Years
24-29 Years
30% 30-35 Years
35%
35 & above

2. Marital status?

Marital Status

30%
Married
Unmarried
70%

3. Educational Qualification?

Educational Qualification of
Respondents

25% Under graduate

35%
Graduate

40% Post graduate

4. Number Of year‘s Are You in Varanasi?

 Staying Years in Varanasi

39% Less than five

years
61% More than five
years

5.Your Occupation?

Occupation

26% 20%
Business
Profession
Service
54%

6.Your annual household income?

Annual
5% Household Income
15%
Less than 2 lacs
49%
Between 2 to 5
lacs
31% Between 5to
8lacs

6. Are you a member of a club/gymkhana?

 Mebership of Club/Gymkhana
42%
Yes
58%
No

8. What is your perception about insurance sector?

Perception About Insurance

20% 1 Hard and
30% lucrative
2 Hard but not
rewarding
9% 3 Smooth and
41% rewarding

SWOT Analysis :-
STRENGTH :-

1. Domestic image of HDFC supported by Prudential‘s international image is

strength of the company.
2. Strong and well spread network of qualified intermediaries and sales
person.
3. Strong capital and reserve base.
4. The company provides customer service of the highest order.
5. Huge basket of product range which are suitable to all age and income
groups.
6. Large pool of technically skilled manpower with in depth knowledge and
understanding of the market.
7. The company also provides innovative products to cater to different needs
of different customers.

WEAKNESS
 1. Heavy management expenses and administrative costs.
2. Low customer confidence on the private players.
3. Vertical hierarchical reporting structure with many designations and cadres
leading to power politics at all levels without any exception.
4. Poor retention percentage of tied up agents. .

OPPORTUNITIES
1. Insurable population –According to ING only 10% of the
population is insured, which represents around 30% of the insurable
population. This suggests more than 300m people, with the potential to buy
insurance, remain uninsured.
2. There will be inflow of managerial and financial expertise from the world‘s
leading insurance markets. Further the burden of educating consumers will
also be shared among many players.
3. International companies will help in building world class expertise in local
market by introducing the best global practices.

THREATS :-
• Other Private Insurance Companies Also vying For The Same
uninsuranced Population.

• Big Public Secter insurance Companies Like LIC India, National

insurance Company Ltd, Oriented Insurance Ltd, New India Assurance
Company Ltd, And United Insurance Company Ltd. People Trust Them
And go to them more.

• Poaching of Customer by other companies.

• Most People donot understand the need or are not willing to take
insurance policies in general.
Facts/findings
1. As the people think that insurance is a tool protect their
family & a tax saving device. They are aware of the fact &
realizing its importance.

2. The company should try to expand & build up its

infrastructure because there is a large potential for insurance
in India.

3. Company should come up with its branch in Chennai. With

the objective and goals to meet the demands & expectations
of the public. Because the entrance of private players will
increase the competition and it would be tough task to secure
a good position in market.

4. Since HDFCSL 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 there by forming
a long and trusted relationship.

5. As seen from the survey that at 70 % of the customer are

having insurance policy out of which 87.5 % of the customer
are planning for new investments.

6. Customers are more brand oriented rather than product

oriented.

7. Customers are less aware about private company.

8. People prefer government insurance company other than

private insurance companies due to its reliability.
 9. Customer likes to invest in other investment zones die to the
hectic rules and regulations associated with entering into a
contract with insurance companies.

10. Customers do not feel secure with private insurance

companies.

11. So it can be 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
provide away from their home is providing it. But intend
they should provide good products and services. The
company should try to convince these customers and get
them in its favour.

Conclusion

Our exhaustive research in the field of life insurance threw up some interesting
trends which can be seen in the above analysis. A general impression that we
gathered during data collection was the immense awareness and knowledge
among people about various companies and their insurance products. 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 impression by the marketing and advertising

campaigns of insurance companies. A high penetration of print, radio and
television ad campaigns over the years is beginning to have its impact now.

Another hearting trend was in terms of people viewing insurance as tax saving
and investment instrument as much as protective one. A very high number of
respondents 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. But therein lies the opportunity for a relative new
comer like HDFCSL co. LIC has never been known for prompt service or
customer oriented methods and HDFCSL can build on these factors.
Limitations of the study
1. The information given above is based on market survey, meeting with the people and
phone calls, and the other medium like internet and browser of HDFCSL.

2. My project is based upon the interaction with the people for purpose of recruitment of
financial consultant.

3. My study is totally based on the perception of the people that what they think about
the insurance when someone affer him to work in the insurance sector.

4. I analyzed that the person who is needy for money, greedy about fast life and belives in
speed join insurance because this sector gives you a platform for unlimited earning and
life time earning like life time validity in mobile phones. S
SUGGESTIONS:
To make people aware about the benefit of becoming HDFC Standard Life‘s
Financial Consultant, following activities of advertisement should be done
through :-

– Print Media.

– Hoarding & Banners.

– Stalls in Trade Fares

– Distribution of leaflets containing details information.

Company can recruit sales promoters so that maximum information can

be provided to the potential client

• By showing additional and alternative income source along with various

schemes for Financial Consultant in the company so that more and more
FC can be recruited.

• Free life cover for every active Financial Consultant.

• Discounted rate premium for its family members.

• Make people understand about the meaning of the IRDA authorization

and its validity.

• Company should organize the program in the society, so that people will
be aware about the company

• Separate time slot for Working Professionals, House Wives and Retired
people.

• Agency of non-life products should also be provided along with life.

• Company should open more branches in different cities
Bibliography

1. Books/ Magazines referred :

Study guide – principles & practices of life/general insurance,

by AIMA.

Books published by insurance institute of India.

Life-insurance, by McGill

Insurance watch.

Money outlook

2. Websites referred:

• www.cifainsurance.com
• www.moneyoutlook.com
• www.insurance.ind.com
• www.hdfcinsurance.com
Annexure & Questionnaire

1. When HDFC life was incorporated ?

a. 1818
b. 1971
c. 1977
d. 2000

2. Which one is the first step of research methodology in an organization?

a. To determine the source of data .

b. To decide the objective of the study.
c. Design data collection form
d. To design research design.

3. How many types of research design are there ?

a. 3
b. 4
c. 5
d. 6

4. The percentage of HDFC LIFE in joint venture ?

a. 61.9%
b. 81.9%
c. 91.9%
d. 61.9%

5. Which one comes under PROTECTION PLAN ?

a. Personal pension plan

b. Long term return plan
c. ULIP
d. Term assurance plan
6. In 1818 , where did British established the first insurance company in
India ?

a. Calcutta
b. Mumbai
c. Chennai
 d. Delhi

7. In 1956, the market contained ……… Indian and ……… foreign life
insurance companies.

a. 143,12
b. 154,16
c. 165,16
d. 145,12

8. GIC stands for ……..

a. General insurance corporation

b. General Indian corporations
c. General insurance company
d. Guarantee insurance corporations

9. How many percentage standard life hold of equity in joint venture.

a. 21%
b. 25%
c. 28%
d. 26%

10.HDFCSL insurance company have ……. Branches servicing customer

needs over in …… cities and towns.

a. 432,200
b. 685,100
c. 568,700
d. 764,700