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COMPANY PROFILE
HDFC STANDARD LIFE is the name which is working as one of the best private insurance company in insurance sector. HDFC Standard Life Insurance Company Ltd was incorporated on 14th August 2000.It got the certificate of registration on 23rd October. Human beings today are different. They wanted to live a life which is very sure of their future which they do not have to take risk and would live in peace and harmony. Thus they would like to insure about any risk that may occur to them in future. This want of the people is fulfilled by the insurance companies which come to exist in the Indian business scenario. Assets are insured, because they are likely to be destroyed, through accidents occurrences. Such possible occurrences are called perils. Fire, floods, breakdowns, lightning, earthquakes etc. are the perils. This is risk which is possible to occur and cause loss and damage. Insurance does not protect the assets. It does not prevent its lost due to perils. The peril cannot be avoided through insurance. Insurance only tries to reduce the impact of the risk on the owner of the assets and those whot fully. The mechanism of insurance is very simpleo depend on the assets it only compensates the losses and that too n. People who are exposed to the same risks come together and agree that, if any of them suffer a loss, the other will come together and make good to the person who lost. In other word the risk is spread in among the community and likely big impact on one is reduced to smaller managerial impact on all. For example all people who sent well are exposing to same risks which are related to water damages, ship sinking, piracy etc. Those owning factories are exposed to other risk like fire, water, earthquakes, burglary, hailstones, lighting etc. like this different kind of risk can be identified and separate group made, including those exposed to such risks. By this method, the heavy loss that any one of them may suffer is divided into bearable small losses by all. Insurance is commerce. Insurance product is a financial contract entered into by parties with a define consensus of mind. Insurance, in its purest from, is a risk management tool, a security blanket. It provides financial protection against unexpected events. When we buy insurance, effectively a portion of risk is transferred to the insurer. This protection comes at a price, but its a function of what we might otherwise find ourselves burdened with. Whatever stage of life we are at, chances are, and we need insurance.

Definition:
Insurance can be define as a contract by which insurance agrees to pay the insured a compensation for specified damage loss or injury suffered in exchange for periodic payment called premium Insurance cannot prevent the happening of the event; it can protect a person from the financial losses he may suffer after the happening of the event. Therefore, insurance if aimed at compensating the financial loss suffered an insured event.

HISTORY OF HDFC INSURANCE

BRIEF HISTORY OF INSURANCE
The business of insurance started with marine business trader who used to gather at the Lloyds coffee house in London agreed to share the losses to their good while being carried by their ship. The loss used to occur because of pirates who used to rob their ship or because of bad weather spoiling the goods that they carried or sinking the ship. The first insurance was issued in 1583 in England. In India insurance began in 1870 with life insurance being transacted by the English company, the European and the Albert. The first Indian insurance company was the Bombay Mutual Assurance Society limited, formed in 1870.this is followed by the Oriental life assurance co. in 1874, the Bharat in 1896 and the empire of India in 1897. Later the Hindustan cooperative was formed in Calcutta, the united India in madras, the Bombay life in Bombay, the nation in Calcutta, the new India in Bombay and the Jupiter in Bombay and the Lakshmi in New Delhi. These were all Indian companies started as a result of the swadeshi movement in the early 1900s. by the year 1956 when the Life Insurance business was nationalized and the Life Insurance corporation of India (LIC) was formed on September 1st 1956, there were 170 companies and 75 provident and societies transacting life insurance business in India. After the amendment to the relevant laws in 1999, the L.I.C did not have the exclusive privilege of doing life insurance business in India. By 2002, eleven new insurers had been registered and had begun to transact life insurance business in India. Currently there are 17 insurers in the market which are competitor to rule the market. As the number of insurer increases the completion increases to make the maximum number of customer, the highest number of skilled employee and to gain the maximum profits.

HISTORY OF HDFC
1977

On October 17th HDFC was incorporated as a Public Limited Company. HDFC was promoted by the Industrial Credit and Investment Corporation of India. The company got the certificated of commencement of business on 3rd December. HDFC provides housing finance in India. The corporation provides long term housing loans mainly to low and middle income individuals and corporate bodies. It has also provided a modest amount of construction finance to housing develop Rs. On November HDFC introduced HDFC Certificate of Deposit Scheme.5,00,126 shares taken up by subscribers to Memorandum of Association. 50,000 shares reserved for International Finance Corporation, Washington and 50,000 shares issued to His Royal Highness The Ago Khan and/or Foundation Aga Khan Switzerland. 3,99,874 shares allotted a par to the public in MayJune 1978.

1979

1980

During the year company introduced Loan Linked Deposit scheme, which encourages small savers to begin a pass book account with HDFC for a minimum of Rs.200 and deposit, as and when funds are available in multiples of Rs. 100. After a period of 3 years, the depositor may withdraw his accumulated deposit which has earned 9% per annum or renew it with HDFC. In either the event, the depositor becomes eligible for a loan up to 4 times his accumulated savings, subject to normal lending policy of Co. During the year, HDFC negotiated for loan under Housing Guarantee Programme under US aid. During the same year company launched another programme named Non-Resident Certificate Deposit Scheme. During the year, the corporation issued bonds of face value of Rs. During the year, the corporation issued bonds of face value of Rs. 5000 each for a total amount of Rs.10 crores. During the year a second issue of bonds of Rs. 5,000 each for Rs.10 crores was floated by way of public issue of bonds in March 1986. During the year on May Company launched Home Saving Plan. Under this facility, an individual can borrow for his housing needs at 8.5% per annum provided he completes certain saving requirements before hand. During the year company also introduced HDFC- Cumulative Interest Scheme. A new agreement was entered into with USAID under which a further sum of U.S. million was borrowed from the U.S. capital market in 1986-87. During the period corporation issued, IV & Vth series of bonds for Rs.10 crores and Rs. 5 crores respectively. During the same year corporation started offering a new service called Advanced Processing Facility (APF) under which property developers who are undertaking a residential project can finance individuals buying a dwelling unit in their project. 5,00,000 Rights equity shares issued at par in prop. 1:2. Subsequently, another 5,00,000 No. of equity shares were offered at par for public subscription. During the year HDFC issued its New Corporate Bonds - Series I for Rs. 20 crores. Also VI, VII and VIII series bonds for an aggregate amount of Rs. 20 crores were issued during the year. During the year National Housing Bank was set up as an apex body to ensure orderly growth and functioning of housing finance system in India.

1981

1983

1984 1985

1986

1987

1988

 1989 1990

Two new facilities viz., the Telescopic Loan Plan and Short Term Bridging Loan were introduced mainly for younger borroweRs. HDFC entered into an arrangement with the Bank of India whereby HDFC was to receive fixed rate counterpart rupee funds in lieu of the US dollars deposited with Bank of India in New York. The Home Loans Account scheme was to be launched in co-operation with scheduled banks with effect from July 1, 1989. The Centre for Housing Finance unit proposed to design specific programme contents to suit different purposes and institutions. During the year Krditanstalt Fur Wiederauflau of Germany, sactioned a line of credit of DM 25 million to fund loans disbursed by HDFC for low cost housing project directed to economically weaker section households. Two new types of loans namely, Home Improvement Loans (HIL) and Home Extension Loans (HEL) was launched. During November, the company issued 13,77,500 equity shares of Rs.100 each at a premium of Rs.85 per share to the public. And also 72,500 shares were reserved for employees of the company. Simultaneously, the corporation offered 10,00,000 equity shares of Rs. 100 each at a premium of Rs. 75 per share to the then existing shareholders in proportion 1:2. The Company allotted 25,00,000 No. of equity shares (both rights and public offer). The Company negotiated a borrowing of US 100 million from IFC, Washington, in two parts - Part `A', a loan of US million from IFC (W) directly and Part `B', a loan of US million to be syndicated by IFC (W). To commemorate the beginning of the second decade the HDFC, it was proposed to establish a shelter assistance fund to encourage and support activities related to shelter problems, in general and to the needs of the poorer and economically weak sections in particular. Forfeiture on 970 No. of equity shares annulled. Issued 14,50,000 No. of equity shares (prem. Rs. 85 per share) to the public and 10,50,000 shares (prem. Rs 75 per share) as rights in December. 23,62,500 No. of equity shares allotted on conversion of `B' part of FCD. During the year, the Corporation launched a new deposit product Easy Way Savings, a unique product providing households with flexible maturity choice as well as saving profile. During the year, the Corporation signed a MOU with General Electric Corporation of USA, to promote a new joint venture for understanding the business of Consumer finance. HDFC and General Electric Corporation, have an equity stake of Rs. 15 crores each.

1992 1993

1994 1995

The Corporation promoted the educational loan facility to provide financial support to students pursuing higher education. As a joint venture in the GE capital (USA) HDFC promoted a consumer finance company in March for provision of range of financial product. 9,00,000 No. of equity shares of Rs 100 each allotted to ICICI and UTI on private placement basis. 17,86,400 No. of Equity shares of Rs 10 each issued on private placement basis. Also 50,00,000 Pref. shares were issued to domestic companies. During the year, the Corporation undertook to set up its first Overseas branch office in Dubai. The Corporation was one the promoters of ILFSL along with Central Bank of India and Unit Trust of India. The Corporation jointly promoted with State Bank of India (SBI) a new housing finance Company under the name of Housing Finance &Promotion Corporation, Ltd. which operates in the eastern and north-eastern regions with its headquarters at Calcutta. A MOU was signed with Bank Papera Sejhtera, Indonesia on the broad parameters of technical assistance to be provided over a 6 months period. During the year, the Singapore based property management company Colliers Jardine Holdings Ltd., has entered into a joint venture with HDFC and Infrastructural Leasing and Financial Services Ltd., to introduce consultancy services in real estate. The joint venture will be named Colliers Jardine (India) Ltd. HDFC and IL&FS will contribute15% each in the joint venture and the balance 70 per cent will be held by Colliers Jardine Holdings Ltd., or its nominees. During the year HDFC, has firmed up its plans to enter the Insurance industry. The company signed a joint venture agreement with the Standard Life Assurance Co. of UK, to establish an insurance company in the country as soon as insurance industry is opened up for private investment. The joint venture agreement was signed on 11 October. During the year company issued 50,00,000 - 12.5% Cumulative Redeemable Convertible Preference Shares of Rs.100 each. During the year corporation introduced Flexi-Rate Individual Housing Loan. During March, HDFC launched Indias first captive auto finance company named Maruti Countrywide Auto Financial Services Ltd., with the objective of exclusively financing Maruti Vehicles in India. This is joint venture between HDFC, Maruthi Udyog & GE Capital India. HDFC Developers, Ltd. and HDFC Investments Ltd. are the wholly owned subsidiaries of the Company. 50,00,000 Cumulative Redeemable Non-convertible pref. shares redeemed during the year.
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1996

1997

Government of Rajasthan, Infrastructure Leasing and Finance Services and Housing Development Finance Corporation has signed a memorandum of understanding in Mumbai to set up Project Development Corporation. The Housing Development Finance Corporation (HDFC), India's premier housing finance institution, has stepped up its programme to mobilize deposits in Goa, by setting up an organized network of agents as part of its efforts to offer safe and attractive deposit options. Countrywide Consumer Financial Services (CCFS), a joint venture between Housing Development Finance Corporation (HDFC) and GE Capital Services, USA, proposes to raise Rs.20 crore through issue of non-convertible debentures on private placement basis. Housing Development Finance Corporation Ltd. (HDFC) has approached the Life Insurance Corporation (LIC) for a tri-partite venture along with Standard Life of Scotland, to tap the market for pension funds. The Housing Development Finance Corporation (HDFC) has tied up with the Rajasthan government to set up a new company. Housing Development Finance Corporation (HDFC) has received LAAA, MAAA and A1+ ratings for its bonds, fixed deposits (FDs) and short-term debt instruments respectively from ICRA. With a 56-per cent share, the Housing Development Finance Corporation (HDFC) is the market leader in housing finance. International Finance Corporation (IFC) is teaming up with Housing and Development Finance Corporation (HDFC) to create a non-banking finance company which will provide long-term housing mortgages to the middle income market in Bangladesh. While IFC and HDFC will be founding shareholders in the joint venture, they will also be joined by the Bangladesh Rural Advancement Committee and the Delta Insurance Group, an insurance company, according to the 1997 annual report of IFC which was released on September 22. The first private sector housing finance company has been established in Bangladesh with the World Bank signing a deal on behalf of International Finance Corporation (IFC) to become an equity partner along with Housing Development Finance Corporation (HDFC) in the recently established Delta Brac Housing Finance Company (DBH) of Bangladesh. The Housing Development Finance Corporation Ltd. (HDFC) has introduced a novel loan facility, betterment fee loans to site owners in revenue layouts within the jurisdiction of Bangalore Mahanagara Palike. The Housing Development and Finance Corporation (HDFC) is in talks with an Asian offshore institutional investor for setting up a joint venture company in anticipation of the government opening up the real estate sector for foreign direct investment (FDI). The Housing Development Corporation (HDFC), one of India's leading housing finance companies, floated its maiden debenture issue through the private placement route on 14th July.

1998

1999 2000

HDFC will enter into a memorandum of understanding for strategic business collaboration with Chase Manhattan bank. Housing Development Finance Corporation (HDFC) and Chase Manhattan have entered into an agreement where, in the event of the two funds India Private Equity Fund and Indocean Financial Holding Ltd. The Company and State Bank of India would be entering into a MOU to set up a Credit Information Bureau jointly in technical and financial collaboration with Dun & Bradstreet Information Services India Pvt.Ltd. and Trans Union International Inc. the leading providers of Business and Credit Information services. The Company has informed that, SLAC have acquired an aggregate of 10 lac equity shares from the secondary market. The Company has acquired an equity holding of 12.5 per cent in IndiaConstruction.com, a B2B construction portal promoted by the Punebased Construction Portal Pvt. Ltd. HDFC's tie-up with the Palmyrah Workers' Development Society (PWDS),a Tamil Nadu-based NGO has resulted in the formation of the Indian Association of savings and Credit (IASC), an RBI-recognized NBFC. The Cellular Service provider Orange has tied up with Housing Development Finance Corporation to offer mobile Internet banking to its customer Rs. Geojit Securities has struck an alliance with HDFC Bank for providing a payment gateway to internet trading clients. The Company has opened an office in Kozhikode which is its third office in Kerala. The Company has introduced a home equity loan with a facility to mortgage property to secure loan for children's education, medical expenses and other miscellaneous investments. The Company has acquired the entire shareholding of Hometrust Housing Finance Company, a 100 per cent subsidiary of Gujarat Ambuja Cements and has also acquired 26 per cent additional stake in Gruh Finance which was held by GACL. The Company has acquired the housing finance business of Gujarat Ambuja Cement Ltd for a total consideration of Rs. 60 crores. The Housing Development Finance Corporation and Tata Consultancy Services signed a memorandum of understanding to set up a 50:50 joint venture to offer IT-enabled services overseas. Crisis has reaffirmed the AAA rating assigned to the company's Rs. 1,195crore bond programme. It has also reaffirmed the FAA rating given to the corporation's fixed deposit programme and the P1+ rating assigned to the short-term debt plan. The Company proposes to capitalize on the huge real estate requirement of MNCs as the latter propose to set up retail chains across the country. HDFC has acquired two crore shares in Lafarge India representing face value of Rs. 20 crore. HDFC asset Management Company is to formally launch its mutual fund schemes from 20th July.
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A clutch of financial service firms led by HDFC have joined together and acquired one of the oldest cards on the BSE. Housing Development Finance Corporation and the State Bank of India are setting up an equal joint venture for credit rating of individuals. ICICI Ltd and HDFC have hiked their housing loan rates by 50 basis points. Amalgamation of Home trust Housing Finance Company Ltd. The Credit Rating Information Services of India Ltd has assigned an `AAA' rating to the Rs 1,500-crore bond programme of the company. VSNL and HDFC have jointly launched online renewal facility for Internet subscription in Mumbai, New Delhi, Calcutta, Chennai, Pune and Bangalore. ICRA has assigned `LAA' rating to Hudco Rs. 1 billion tax-free and Rs. 5 billion taxable bonds programme. Housing loan finance company HDFC Limited targeting the NRIs, launched a portal `HDFC Reality.com' to provide information on real estae properties in and around Bangalore city. The Insurance Regulatory and Development Authority has granted registration to HDFC Standard Life Insurance, as the first private sector life insrnace company in India. Mr. Keki Mistry will be the new Managing Director of Housing Development Finance Corporation. The Housing Development Finance Corporation has launched a retail finance scheme, Step Up Repayment Facility, which provides for a higher loan amount. The UB group has tied up with Housing Development Finance Corporation (HDFC) and Infrastructure Leasing and Finance Services (IL & FS) to raise Rs.60 crore to part fund the acquisition of Associated Breweries& Distillers (ABD). HDFC has tied up with the Alireza group of Saudi Arabia and the Jeddahbased Techno build to provide advisory services to NRIs. HDFC has decided to acquire the entire equity holding of its subsidiary HDFC Holdings in HDFC Bank. HDFC has acquired 133, 10,000 equity shares in HDFC Bank from HDFC Holdings, a 100 per cent subsidiary of HDFC, through internal transfer. The Housing Development Finance Corporation has launched its 0-million five-year syndicated loan with road shows beginning in Singapore. HDFC Board approves proposal to set up JV with Chubb Global for foray into General Insurance business. Housing Development Finance Corporation Ltd has on March 20, 2002 allotted 711178 equity shares of Rs 10 each under the Employees Stock Option Scheme (ESOS). Housing Development Finance Corporation Ltd has informed BSE that the Corporation has purchased 18,00,582 equity shares of Rs 10/- each of GRUH Finance Ltd, representing 6.79% of its paid up equity capital. After the said purchase, the holding of the Corporation in GRUH Finance Ltd aggregates to

2001

2002

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 2003

1,62,40,604 equity shares of Rs 10/- each, representing 61.29% of its paid up capital. Housing Development Corporation Ltd has on August 7, 2002 allotted 51378 equity shares of Rs 10 each under the Employees Stock Option Scheme. RVS Rao reappointed as Executive Director of Housing Development Finance Corporation. Housing Development Finance Corporation (HDFC) has asked chairman Deepak Parekh to continue for three more years with effect from March '03. The service of Renu S Karnad, executive director, has also been extended for another five years with effect from March 2003. Besides, the corporation is revising upwards the remuneration package of its top management, including Mr. Parekh, managing director KM Mistry and two executive directors Ms Karnad and Mr. RVS Rao. The package will be in the range of Rs 80,000 to Rs 4,00,000 per month. At present, Mr. Parekh and Mr. Mistry receive a salary of Rs 2, 00,000 and Rs 1, 75,000 per month, respectively. Mr. Rao and Ms Karnad get Rs 1,50,000 per month. HDFC divests its entire stake in Spectra mind to Wipro Fox-Pitt, Kelton's (FPK) survey on the Asia's Best Managed Bank identifies Housing Development Finance Corporation (HDFC) as the second best managed financial institution in India and among best in the region. HDFC Asset Management Company (AMC) acquires Zurich Asset Management Company India Standard Life Assurance Company hikes stake in HDFC to 14.06 % HDFC Realty becomes Wholly owned Subsidiary of HDFC HDFC Board approves Arrangement between the Corporation & HDFC Bank wherein HDFC Bank will source housing loans for the Corporation Allotts Secured Non Convertible Debentures (NCD's) of Rs 1 million each, aggregating to Rs 2500 million on a private placement basis Divests shares of HDFC AMC to Standard Life Investment Ltd. Consequent to the said sale, the Corporation would hold 50.10% of the total paid up capital of the HDFC AMC and the balance 49.90% would be held by Standard Life Investments Ltd. Inks loan agreement for 0 million with International Finance Corporation (IFC), the private lending arm of the World Bank Cuts home loan rates for fixed-rate loans by about 25 basis points across maturities. Alpine International Ltd., a sub-account of Warburg Pincus LLC, divests HDFC's 42,50,582 shares reducing its holding to 4.48% Share price hits a life time high of Rs 455 Mr. M Narasimham resigns as a Director of the Corporation wef August 20, 2003 Allots 3833 Secured Redeemable Non Convertible Debenture (NCDs) of Rs 1 million each aggregating to Rs 3833 million on a private-HDFC divests its entire stake in Spectra mind to Wipro

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2004

Fox-Pitt, Kelton's (FPK) survey on the Asia's Best Managed Banks identifies Housing Development Finance Corporation (HDFC) as the second best managed financial institution in India and among best in the region HDFC Asset Management Company (AMC) acquires Zurich Asset Management Company India Standard Life Assurance Company hikes stake in HDFC to 14.06 % HDFC Realty becomes Wholly owned Subsidiary of HDFC HDFC Board approves Arrangement between the Corporation & HDFC Bank wherein HDFC Bank will source housing loans for the Corporation Allots Secured Non Convertible Debentures (NCD's) of Rs 1 million each, aggregating to Rs 2500 million on a private placement basis Divests shares of HDFC AMC to Standard Life Investment Ltd. Consequent to the said sale, the Corporation would hold 50.10% of the total paid up capital of the HDFC AMC and the balance 49.90% would be held by Standard Life Investments Ltd. Inks loan agreement for 0 million with International Finance Corporation (IFC), the private lending arm of the World Bank Cuts home loan rates for fixed-rate loans by about 25 basis points across maturities Alpine International Ltd., a sub-account of Warburg Pincus LLC, divests HDFC's 42,50,582 shares reducing its holding to 4.48% Share price hits a life time high of Rs 455 Mr. M Narasimham resigns as a Director of the Corporation wef August20, 2003 Allots 3833 Secured Redeemable Non Convertible Debenture (NCDs) of Rs 1 million each aggregating to Rs 3833 million on a private placement basis. Unveils its 4th branch in Bangalore at Basaveshwaranagar Forges alliance with Tally to unveil EDI for Small & Medium Enterprises (SMEs) Allotted 2833 Secured Redeemable Non Convertible Debenture (NCDs) of Rs 1 million each aggregating to Rs 2833 million on a private placement basis Tied up with ICICI Bank and SBI for sharing ATM networks HDFC unveils innovative housing product Becomes the first private corporate to raise Rs 1,000 crore debt in a single trance and in a single option The Company has received disclosures from Mr. D S Parekh Chairman and Mr. Susir Kumar - Company Secretary of their acquisitions. The details are as follows: i) Mr. D S Parekh has on March 02, 2004 acquired 25,000 shares. The mode of acquisition is allotment pursuant to exercise of options vested under ESOS and his shareholding after the said acquisition is 3,00,500 shares amounting to 0.1223% of the voting rights of the company; ii) Mr. Susir Kumar M has on March 02,2004 acquired 6,800 shares. The mode of acquisition is allotment pursuant to exercise of options vested under ESOS and his shareholding after the said acquisition is 6,800 shares amounting to 0.0028% of the voting rights of the company. HDFC inaugurated its 16th office in Tamil Nadu and 6th office in Chennai at the southern suburb of Velachery
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 2005

Capital Research acquires 1.38 pc additional stake in HDFC HDFC, Elcot sign pact to promote InfoTech in TN Forbes Group ties up with HDFC to set up media firm Hudco ties up with Pragati Social Infrastructure & Development Ltd to float new JV HDFC JV unveils Yellow Pages in Ahmedabad HDFC and WL Ross team up to invest in Indian corporate turnarounds Housing Development Finance Corporation (HDFC) may join hands with Apollo Hospitals to set up two-three super-specialty hospitals in Mumbai. HDFC joins hand with Postal dept on October 10, 2006. Thus HDFC has come a long way since its establishment in 1977. Since its establishment it has been able to launch many policies which are beneficial to its customer and help the people in fulfilling its customers dream of living in peace and harmony where the avoidable circumstances like the fire, flood, drought burglary, hailstones etc. can be minimized. HDFC standard life is also planning to expand it business to continue serving its people and provides benefits to it country man.

2006

August...2006 Selected as 4Ps Power Brand 2006 HDFC Standard Life has been the '4Ps Power Brand 2006', for being one of India's Top 25 'Most Innovative Companies' in an exclusive survey conducted by ICMR (Indian Council of Market Research) and 4Ps - Business and Marketing (a Business and Marketing magazine published by Planman Media). The survey highlighted 25 companies that have made India think differently and radically through their Business and Marketing practices. HDFC Standard Life was the only company selected from the insurance domain. Besides us, the lists included giants such as HLL, Microsoft, Nokia, LG, Samsung, IBM, HP, ITC Group, Hero Honda, Bajaj Auto, Ranbaxy, ICICI Bank, SBI Bank, Bennett, Coleman & Co. Ltd., Tata Group, Kingfisher Airlines, Bharti Televentures, Pantaloon, General Electric, HPCL, Maruti, Anil Dhirubhai Ambani Group, Reliance Industries, and CNBC TV 18. HDFC Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), Indias leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture. December,.2007 Pension Plan Tops Mints Survey of Best TV Ads HDFC Standard Lifes pension plans topped the ad diagnostics and ranked eighth on ad reach in a survey of new television advertisements in November, 2007, conducted by Mint, the leading business newspaper of the Hindustan Times Group. Our pension

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advertising was ranked first in terms of ad diagnostic scores (likeability, credibility, enjoyment). The respondents were between 18 and 40 years. We were ranked 8th in terms of a combined score of ad awareness and brand recall. September, 2007 Ranked Sixth Most Effective Advertisement HDFC Standard Life was ranked 6th amongst The 10 most effective ads in September 2007, according to the JuxtConsults Ad Box Office Monthly Monitor. We have moved up from 56th position in August 2007. JuxtConsults Ad Box Office is Indias biggest monthly monitor of most effective television ads amongst urban consume Rs. The ranking was based on the total effectiveness of the ad in connecting the brand with the consume Rs. Sar Utha Ke Jiyo ranked 10th in the Top 10 Top-of-mind ad slogans in September, 2007, according to the JuxtConsults Ad Box Office Monthly Monitor. The ranking was based on how much our ad slogan recalled top of mind in the daily ad clutter. June, 2007 Received PCQuest Best IT Implementation Award 2007 HDFC Standard Life received the PCQuest Best IT Implementation Award 2007 for Wonders, its path-breaking implementation of an enterprise-wide workflow system. PCQuest, the leading IT publication from the Cyber Media Group identified six most innovative IT implementation projects deployed successfully across India for the award. The winners of the 4th PCQuest Best IT Implementation Awards were chosen from 250 nominations across 22 industries and 23 projects ranging from government, banking finance and insurance, manufacturing, petroleum, and IT/ITES to poultry, travel and tourism, real estate, construction, power and utilities. April, 2007 Received Three Awards at ADFEST 2007 HDFC Standard Lifes advertising created high awareness for our brand and bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards organized by the Advertising Agencies Association of India (AAAI), the premier advertising body in India). The 3 awards are the highest won by any single brand in the financial services business (including banking, mutual fund, insurance and other financial services). The 2 silvers were won in a category where the gold was not awarded to any brand. Thus the silver was the best that any brand could have got. Our brand topped radio as a medium across all brands - across all industries. March, 2007 Selected as 4Ps Power Brand 2007 HDFC Standard Life was selected as '4Ps Power Brand 2007, for being one of Indias 25 Best Startup Companies in an exclusive survey conducted by the ICMR (Indian Council of Market Research) and 4Ps - Business and Marketing (a business

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and marketing magazine published by Planman Media). The list of companies was prepared based on innovative and new concepts rolled out to serve the Indian consumers. The research on the 25 best startups was based on the number of years since the company has been established vis-a-vis the growth of the company. January 2007 Ranked 29th Most Trusted Indian Brand HDFC Standard Life ranked 29th most trusted Indian Brands amongst the Top 50 Service Brands of 2006 according to a study conducted by the Brand Equity Economic Times, the leading business publication of India. HDFC SL moved up 16 places to be positioned at number 29 (earlier at 45), the highest jump amongst all service brands December,.2007 Pension Plan Tops Mints Survey of Best TV Ads HDFC Standard Lifes pension plans topped the ad diagnostics and ranked eighth on ad reach in a survey of new television advertisements in November, 2007, conducted by Mint, the leading business newspaper of the Hindustan Times Group. Our pension advertising was ranked first in terms of ad diagnostic scores (likeability, credibility, enjoyment). The respondents were between 18 and 40 year. We were ranked 8th in terms of a combined score of ad awareness and brand recall. September, 2007 Ranked Sixth Most Effective Advertisement HDFC Standard Life was ranked 6th amongst The 10 most effective ads in September 2007, according to the JuxtConsults Ad Box Office Monthly Monitor. We have moved up from 56th position in August 2007. JuxtConsults Ad Box Office is Indias biggest monthly monitor of most effective television ads amongst urban consumers. The ranking was based on the total effectiveness of the ad in connecting the brand with the consumers Sar Utha Ke Jiyo ranked 10th in the Top 10 Top-of-mind ad slogans in September, 2007, according to the JuxtConsults Ad Box Office Monthly Monitor. The ranking was based on how much our ad slogan recalled top of mind in the daily ad clutter. May, 2008 Received PCQuest Best IT Implementation Award 2008 HDFC Standard Life received the PCQuest Best IT Implementation Award 2008 for Consultant Corner, the applications for its financial consultants, providing centralized control over a vast geographical spread for key business units such as inventory, training, licensing, etc. HDFC Standard Life has won the PCQuest Best IT Implementation Award for two

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years consequently. Last year, the company received the award for Wonders, its pathbreaking implementation of an enterprise-wide workflow system March, 2008 Silver Abby at Goafest 2008 HDFC Standard Life's radio spot for Pension Plans won a Silver Abby in the radio writing craft category at the Goafest 2008 organized by the Advertising Agencies Association of India (AAAI). The radio commercial Pata nahin chala touched several changes in life in the blink of an eye through an old mans perspective. The objective was drive awareness and ask people to invest in a pension plan to live life to the fullest even after retirement, without compromising on ones self-respect. Laadli Media Award 2007 HDFC Standard Life received Laadli Media Award 2007 for its 'Big car' TV commercial. It showed how a daughter wants to be more responsible towards her family and asks her dad to upgrade to a bigger car by offering him the extra money required to buy the car. HDFC Standard Life received this award for two years consecutively. In 2006, it won for the 'Papa' TV commercial, which challenged the stereotype parents saving only for their son's education or daughter's wedding. The company took a bold step by showing parents saving for their daughter's education abroad, demonstrating progressive thinking. Laadli Media Awards, instituted in 2007, by Population First, an NGO working on women's rights and social development, is given to professionals in print and electronic media and ad makers for gender sensitive news reports, articles, print, TV ads, and films. March, 2008 Unit Linked Savings Plan Tops Mint Best TV Ads Survey The Unit Linked Savings Plan advertisement of HDFC Standard Life, one of the leading private insurance companies In India, has topped Mints Top Television Advertisement survey conducted, for February 2008. HDFC Standard Lifes Unit Linked Savings Plan advertisement was ranked 4th in terms of a combined score of ad awareness and brand recall and 3rd in terms of ad diagnostic scores (likeability, enjoyment, believability, and claim). The respondents were between 18 and 40 years. Mints exclusive report, New voices in a makeover outlines the survey in detail

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February, 2008 Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007 Mr. Deepak M Satwalekar, Managing Director and CEO, HDFC Standard Life, received the QIMPRO Gold Standard Award 2007 in the business category at the 18th annual Qimpro Awards function. The award celebrates excellence in individual performance and highlights the quality achievements of extraordinary individuals in an era of global competition and expectations. January, 2008 Sar Utha Ke Jiyo among Indias 60 Glorious Advertising Moments HDFC Standard Lifes advertising slogan honoured as one of 60 Glorious Advertising & Marketing Moments' over the last 60 years in India, by 4Ps Business and Marketing magazine. The magazine said that HDFC Standard Life is one of the first private insurers to break the ice using the idea of self respect (Sar Utha Ke Jiyo) instead of 'death' to convey its brand proposition. This was then, followed by others including ICCI Prudential, thus giving HDFC Standard Life the credit of bringing up one such glorious advertising and marketing moment in the last 60 year

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ABOUT HDFSLIC
HDFCSLIC stands for Housing Development Finance corporation standard life insurance company. It is incorporated in 1977 as a public limited company with the specialization in provision of housing finance to individuals cooperative societies and the corporate sector. One significant matter about the HDFC is that it is first private sector retail housing finance company and it is listed on both BSE and NSE. Its market capitalization in June 2002. Standard life insurance is founded in 1825. Standard life was reincorporated as a mutual assurance company in 1925. Its largest mutual life insurance company in Europe. For the joint venture between HDFC and SLIC, the discussion commenced in January 1995 and the agreement signed in October 1995. Further joint venture agreement renewed in October 1998. In January 2000 the life insurance project teem established in Mumbai. At last the company officially incorporated in 14th August 2000. It is the matter of great happiness for HDFCSLIC is that it is the first private sector life insurance company to be granted a certificate of registration in 23rd October, 2000. Today 75% shareholding in the hand of HDFC and Standard life has 25% shareholding in this joint venture.

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WHAT IS INSURANCE?
The business of insurance is related to the protection of the economic values of assets. Every asset has a value. The asset would have been created through the efforts of the owner. The asset is valuable to the owner, because he expects to get some benefit may be an income or in some other form. It is a benefit because it meets some of his needs. The benefit may be an income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor car, it provides comfort and convenience in transportation. There is no direct income. Both are assets and provide benefits.

Every asset is expected to last for a certain period of time during which it will period of time during which it will provide the benefits. After that, the benefit may not be available. There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. We can classify insurance in these terms:It is a system by which the losses suffered by a few are spread over many, exposed to similar risks. Insurance is a protection against financial loss arising on the happening of an unexpected event. It is essential that: The calamity is either natural or unexpected The insured person does not gain out of this arrangement

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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.

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AWARDS AND ACCOLADE OF HDFCSL

AWARDS Received CIO 'The Ingenius 100 2009' Award

HDFC Standard Life has received the CIO The Ingenious 100 - 2009 Award, for ATLAS (Agency Training Licensing and Servicing System). Additionally, the company has received the CIO 100 Security Award 2009 for pioneering LANDesk Management and Security Suite security implementation and taking its security to a higher level of technological excellence. HDFC Standard has received the CIO 100 Award for the third consecutive year. It had received the 2008 CIO Bold Award for Consultant Corner and CIO Security Award for our initiatives for a secure computing environment, including Sesame Identity and Access Management. In 2007, the company received CIO 100 award for Wonders and a Special Award in Storage category. CIO magazine has a long tradition of honoring leading companies for business and technology leadership and innovations through its flagship award program CIO 100. Its a celebration of 100 organizations (and the people within them) that are using IT in innovative ways to deliver business value, whether by creating competitive advantage, optimizing business processes, enabling growth or improving relationships with customers.

Received Diamond EDGE Award 2009

HDFC Standard Life has received the Diamond EDGE Award 2009 for its mobile workforce portal - Consultant Corner. EDGE - Enterprises Driving Growth and Excellence (using IT) is an initiative by the ,Network Computing magazine to identify, recognise, and honour end-user companies in India that have demonstrated the best use of technology to solve a business problem, improve business competitiveness, and deliver quantifiable ROI to stakeholders.

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Network Computing magazine is part of CMP Technology, which brings more than 100 IT media brands to more than 18 million technology and business decision makers worldwide.

APRAIL 200 ADFEST 2007 3 Awards

Our advertising has helped create high awareness for our brand and has bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards organized by Advertising Agencies Association of India (AAAI, the premier advertising body in India). The 3 awards that our ads won are notable for a number of reasons: The ADFEST 2007 is the biggest national awards festival in the marketing and advertising field. The 3 awards are the highest won by any single brand in the Financial Services business (including Banking, MF, Insurance other Financial Services). The 2 silvers were won in a category where the gold was not awarded to any brand. Thus the silver was the best that any brand could have got. Our brand topped radio as a medium across all brands - across all industries.

B. MARCH 2007 4Ps Power Brand 2007

HDFC Standard Life was selected as '4Ps Power Brand 2007', for being one of Indias 25 Best Startup Companies in an exclusive survey conducted by ICMR (Indian Council of Market Research) and 4Ps - Business and Marketing (a Business and Marketing magazine published by Plan man Media). The list of companies was prepared based on innovative and new concepts brought about to serve the Indian consumers. The research on the 25 best startups was based upon the number of years since the company has been established vis-a-vis the growth of the company.

C. AUGUST 2006 4Ps Power Brand 2006

HDFC Standard Life has been as '4Ps Power Brand 2006', for being one of India's Top 25 5'Most Innovative Companies' in an exclusive survey conducted by ICMR (Indian Council of Market Research) and 4Ps - Business and Marketing (a Business and Marketing magazine published by Plan man Media). The survey highlighted 25 companies that have made India think differently and radically through their Business and Marketing practices. HDFC Standard Life was the only company selected from the insurance domain. Besides us, the list included giants like (in no particular order) HLL, Microsoft, Nokia, LG, Samsung, IBM, HP, ITC Group, Hero Honda, Bajaj Auto, Ranbaxy, ICICI Bank, SBI Bank, Bennett, Coleman & Co. Ltd., Tata Group, Kingfisher Airlines, Bharti Televentures, Pantaloon, General Electric, HPCL, Maruti, Anil Dhirubhai Group, Reliance Industries and CNBC TV 18.

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ACCOLADE
A. MARCH, 2008
Unit Linked Savings Plan Advertisement Tops Mint Best TV Ads Survey Mint 24/03/2008 The Unit Linked Savings Plan advertisement of HDFC Standard Life, one of the leading private insurance companies in India, has topped Mints Top Television Advertisement survey conducted, for February 2008. HDFC Standard Lifes Unit Linked Savings Plan advertisement was ranked 4th in terms of a combined score of ad awareness and brand recall and 3rd in terms of ad diagnostic scores (likeability, enjoyment, believability, and claim). The respondents were between 18 and 40 years. Mints exclusive report, New voices in a makeover outlines the survey in detail.

B. JANUARY2008
4Ps Business and Marketing's recent issue covers '60 Glorious Advertising & Marketing Moments' over the last 60 years in India. Issue dated 21/12/2007 to 03/01/2008 The 50's have been named as the era of setting up new institutions with Air India Maharaja titled as the first Indian brand mascot, Surf being India's first detergent powder. The 60's saw the maturing of brand punch lines and the beginning of jingles, with 'MRF Muscleman', 'Utterly Butterly Delicious Amul'; the 70's heralded the age of professionalism with the Liril girl at the waterfall; the 80's saw many iconic Indian brands being launched with Bombay Dyeing, Maggi Noodles, Lalitaji endorsing Surf and others; since 1991 where the massive inflow of brands into India, initiated a veritable deluge of marketing and positioning strategies, with the famous Ericsson commercial, Cadbury's 'Kya Swad Hai Zindagi Mein' and many others. In the new millennium, ideas that created an impact include the 'Incredible India' campaign, Hutch campaign with the little pup 'Chika', Indianised version of coke commercials featuring Aamir Khan, among many others. In this feature they have made a special mention on Insurance advertising becoming 'happier' as one of those glorious moments. Earlier, insurance advertisements showed signs of negativity and focused on just protection. It mentions HDFC Standard Life to be "....one of the first private insurers to break the ice using the idea of self respect (Sar Utha Ke Jiyo) instead of 'death' to convey its brand proposition, which was then, followed by others including ICCI Prudential, thus giving us the credit of bringing up one such glorious advertising and marketing moment in last 60 years!

C. DECEMBER 2007
A survey of the best ads on television in November in which HDFC Standard Life pension plans, topped the ad diagnostics and came in eighth on ad reach - Mint 24/12/2007

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Our pension advertising was ranked first in terms of ad diagnostic scores (including likeability, credibility, and enjoyment). Especially important as respondents were between 18 and 40 yrs and therefore our target prospects. And was ranked 8th in terms of a combined score of ad awareness and brand recall. Our advertising started in the last week of November and therefore has managed to reach audiences quickly, especially since the study was done in November. Given our media spends, our industry and other brands in the ranking, this score is very encouraging. December 2007 Column 'AGK SPEAK" in Business Standard by A.G. Krishnamurthy (AGK), an advertising industry veteran, where he has spoken highly about our pension commercial. Business Standard 21/12/2007

D. AGKSPEAKWHAT IVE LIKED - STRAIGHT TO THE HEART!

I have often said that nothing makes an ad work like empathy. Find a connect and you have done it! That is exactly what the HDFC Pension Plans television commercial, airing on most channels, currently achieves. Even though the target audience might not have been me and my wife but rather, a younger couple who should be investing their earnings wisely, we both felt an instant bonding with the couple on screen! The casting has been done so superbly that I am sure that the reaction must be common across the country. Although the couple expresses sentiments that might seem alien to the children of today, they are very much a part of our syntax. Admittedly, todays girls are far more independent and wouldnt dream of total dependence on any one, it was not quite so just a generation ago. It was the norm rather, for a husband to be totally responsible for his wifes comfort and yes, statements like Did you ask for my hand to put me through all this strike a chord. So even if my daughters generation is reminded of their parents when this ad airs, I am sure it still does its job by getting them to plan for a light-heated retirement depicted by the ever-so identifiable on screen pair.

E. SEPTEMBER 2007
JusConsults Ad Box Office Monthly Monitor (featured in Economic Times)- HDFC Standard Life was ranked 6th amongst The 10 most effective ads in September 2007. It moved up from 56th in August 2007. JuxtConsults Ad Box Office is Indias biggest monthly monitor of most effective television ads amongst urban consumers. The ranking was based on the total effectiveness of the ad in connecting the brand with the consumers. JuxtConsults Ad Box Office Monthly Monitor (featured in Economic Times)- HDFC Standard Lifes ad slogan Sar Utha Ke Jiyo was ranked 10th in the Top 10 Top-of-mind ad slogans in September, 2007 (The ranking was based on how much our ad slogan recalled top of mind in the daily ad clutter.)

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F. December2006-january 2007
HDFC Standard Life was ranked 29th in the most trusted Indian Brands amongst the Top 50 Service Brands of 2006. This study was conducted by Brand Equity (Economic Times supplement). HDFC SL moved up 16 places to be positioned at number 29 (was earlier at 45). The highest jump amongst all service brands.

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PRODUCT OF HDFCSL
As we know that lots of insurance plan are playing in the market of different companies. HDCFSL has launched various insurance plans which based on unit link plan. It invests the investment of his consumer in bank deposits, Government securities and Bonds, and Equity. The percentage of these investments in these plans depends upon the consumer whether he wants to take more risk and more return or less risk or less return. It has launched several insurance plans which are thus in the table:1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Unit link pension plan Unit linked pension plus Unit linked enhanced life protection II Unit linked young star plus II Endowment assurance plan Children plan Money back plan Single premium whole of life plan Personal pension plan Saving assurance plan Assure plan

1. UNIT LINKED YOUNG STAR PLUS II

As a parent, your priority is your childrens future and being able to meet their dreams and aspiration. Today, we need more money for providing a good education, establishing a professional career or even a modest wedding because these are expensive. Costs are increasing fast. Just imagine how much we need when our children take these important steps in life when institute like IIM is increasing their fees for education by leaps and bound.

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This plan ensures us a bright future for your children. It makes your child able to lead a life of respect and dignity with a secured financial future.

BENEFITS OF THIS PLAN

The HDFC unit linked Young star Plus II gives us: Valuable protection to your child in case you are not around. An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. Regular loyalty units to boost your fund value every year. Flexible benefit combinations and premium payment options. Flexible additional benefit options such as critical illness cover. Flexible benefit payment preferences- Double and Triple Benefit.

Four steps to your own plan

Step1) IN this policy you will continue to pay each year of the policy. You can pay monthly, half-yearly or annually. The minimum regular premium is Rs. 12,000 per year for annual and half yearly policies. For monthly mode, the minimum regular premium is Rs 1500 per month. Step2) We can choose any amount of sum Assured with, a minimum of 5 times your chosen annul regular premium and a maximum of 40 times your chosen annul regular premium. Step3) It offers a range of valuable protection options to secure the future for whole family. In this policy the customer can choose any one of both which life option (death Benefit) is and life and health option (death benefit + critical illness benefit). It offers flexible benefit payment preference. You can choose one of the following two benefit payment preferences according to the table.(next page)

2. UNIT LINKED ENHANCED LIFE PROTECTION II

The massage of this policy is invest in financial security and self respect for you and your family. In this policy, the investment risk in investment portfolio is borne by the policyholder. In our life I try to give the very best to our family and there is no reason why they should not get the very best in the future too. This plan gives financially independent, even if you are not around.

Benefits of this plan

The HDFC Unit Linked Enhanced Life Protection II gives 1) Valuable protection to your family in case you are not around 2) Increasing insurance cover every year. 3) An outstanding investment opportunity by providing a choice f thoroughly researched and select investment. . 4) Flexible premium payment options.

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Steps regarding this plan

Step1) Choose your regular premium:- this is the premium you will continue to pay each year of the policy. You can pay monthly, half-yearly or annually. The minimum regular premium is Rs.12,000 per year or annual and half yearly policies. For monthly mode, the minimum regular premium is Rs 1500 per month. Step2) Choose your level of protection:- You can choose any amount of Sum Assured with a. a minimum of term of your policy/2 times your chosen annul regular premium. And b. a maximum of 20 times your chosen annual regular premium. In this plan in case of your fortunate demise during the policy term, we will pay the greater of your current Sum assured (less any withdrawals you had made in the two years before your claim) and your total fund value to your family.

3. UNIT LINKED PENSION PLUS

The massage of this plan is live a life of dignity and self respect. It is designed to provide a retirement income for life with the freedom to maximize your investment returns. Stride into your golden years of retirement with dignity and pride.

Benefits of HDFC Unit Linked Pension Plus

This plan is giving you some benefits which will help you in the odd situation. The benefits of this plan are thus:a. an outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. b) Regular loyalty units to boost your fund value every year c) A post retirement income for life d) Flexibility to plan your premiums as per your preference.

Steps of your own plan

Step1) Choose your retirement age:- In this plan firstly you have to choose any age you wish to retire at (vesting age), between 50 years and 75 years. Step2) this is the premium you will continue to pay each year to the policy. The minimum regular premium is rs 10,000 per year. You can pay monthly (using standing instructions or ecs mandate), quarterly, half yearly or annually. You may also choose to pay adhoc single premium Top-up or additional regular premiums depending on the policy type you have chosen and your convenience.

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UNIT LINKED PENSION

The masses of Unit linked Pension is live a life of dignity and self respect. Today we are busy climbing the ladder of success and realizing your dreams. Today, time is with you. Just take a moment and think. It will make you able to continue at the same pace. The HDFC Unit Linked Pension is an insurance policy that is designed to provide a retirement income for life with the freedom to maximize your investment returns. Stride into your golden years of retirement with dignity and pride.

Benefits of this plan

The HDFC unit linked pension gives you a) An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments. b) It gives a post retirement income for life c) Flexibility to plan your retirement date and d) Freedom to invest premiums as per your preference

Steps regarding this Plan

Step 1) you can select any age you wish to retire at vesting age, between 50 years and 75 years. Step2) you can choose either a single premium policy or a regular premium policy For a regular premium policy, you continue to pay your chosen premium each year of the policy. The minimum regular premium is Rs.10,000 per year. You can pay monthly (using standing instructions or ecs Mandate), quarterly, half yearly or annually. The minimum premium for a single premium policy is Rs.25,000. you may choose to pay adhoc single premium top-up or additional regular premiums depending on the policy type you have chosen and your convenience.

UNIT LINKED ENDOWMENT PLUS II

Its massage is to invest in financial security and self respect for your and your family in this policy, the investment risk in investment portfolio is borne by the policy holder.

Benefits of this product

The HDFC unit linked endowment plus II gives a) A valuable protection to your family in case you are not around. b) An outstanding investment opportunity by providing a choice of the thoroughly Researched and selected investment. c) Flexible additional benefit options such as critical illness cover.

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Simple steps for this product

Step1) choose your regular premium:- this is the premium you will continue to pay each year of the policy. You can pay monthly, half-yearly or annually. The minimum regular premium is Rs 12,000 per year for annual and half yearly policies. For monthly mode, the minimum regular premium is Rs.1,500 per month. You may also choose to pay adhoc single premium top-up or additional regular premiums depending on your convenience. Step2) You can choose any amount of sum Assured with: a minimum of ( the term of your policy/2) times your chosen annual regular premium. A maximum of 40 times your chosen annual regular premium. Step3) Choose additional plan benefits:- it offer a range of valuable protection options to secure the future for your family Life option Extra Life option Life and health option Extra life and health option Accidental Death benefit. Benefit types Death Benefit Death Benefit death benefit + accidental Death benefit Death benefit + critical illness benefit Death benefit + critical illness benefit +

Critical illness benefit

Accidental Death Benefit.

Summary We will pay the greater of your sum assured (less any withdrawals you have made in the two year before your claim) and your total fund value to your family. The policy will terminate. We will pay the greater of your sum assured (less any withdrawals you have made in the two year before your claim) and your total fund value to your family. The policy will terminate. In addition to the death benefit, we will pay a further sum assured to your family. The policy will terminate.

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CHOOSE YOUR INVESTMENT FUNDS

The most significant part of the Unit Linked Plan is that investor can choose the mode of investment. In this plan the investment risk in your chosen investment portfolio is borne by the investor. This means that the premiums you pay in this plan are subject to investment risks associated with the capital markets. The unit prices of the funds may go up or down, reflecting changes in the capital markets. So to balance investors level of risk and return, making the right investment choice is very important and you are responsible for the choices you make. It has 7 funds that give investor:a) The potential for higher but more variable returns over the term of your policy; or b) The more stable returns with lower long-term potential. Your investment will buy units in any of the following 7 funds designed to meet your risk appetite.

Table of funds are given below:Asset Class Fund Money market++ Bank Govt. Deposit+++ securities &bonds Fund Composition 100% -70-100% 0-20% 70-100% 75-100% Equity Risk & Return Rating

Liquid Fund Stable Managed Fund Secure Managed Fund

100% 0-30% 0-5%

Low Low LowModerate High Very high Very

Defensive Managed 0-5% Fund Balanced Managed 0-5% Fund Equity Managed Fund 0-5%

0-15% 0-15% 0-10%

50-85% 20-70% 0-40%

15%-30% 30%-60% 60%100% 95%100%

Growth Fund

0-5%

+ note on the funds shows will manage the investment in each fund so that the proportion of each Asset class is always with the ranges. + + shows Money market instruments. It include liquid Mutual Funds, commercial papers, commercial bills, treasury bills, government securities having an unexpired maturity up to one year. Bank deposits means deposits issued by any primary dealer or non Banking and

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banking financial company approved by the reserve by the reserve bank of India or any other public Financial institutions or by Housing Finance Companies approved by the National Housing Bank. The past performance of any of the funds is not necessarily an indication of future performance. Unit prices can go up and down. No fund offers an assured return. The names of the fund it offer under this plan do not, in any way, indicate the quality of the plan, its future prospects or returns.

HDFCSL PRODUCT PLAN IS A LIFE STAGE PLAN

We can see its plan is like a LIFE STAGE Plan. According to it there are four stage of life, young and single stage, Just Married stage, proud parents and Planning and Retirements.

Stage 1 Young and Single stage:It is an important stage where on lays down the foundation of a successful life ahead. It helps in this stage for taking advantage of the time and power of compounding to ensure that you build up your dreams. Our needs in this stage our needs are save for home and weeding, tax planning and save for golden years. Figure1

Stage 2 Just Married stage:Marriage brings about a significant change. New dreams and new opportunities also bring in additional responsibilities. In this stage our needs are planning for home, save for vacation, and save for our child

Figure 2

Stage 3 Proud Parents:Once you have children, your need for life insurance is even more. In this stage our need will be provide good education for childrens, safeguarding family against loan liabilities, and saving for post-retirement.

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Stage 4
Planning for Retirement:In this stage our needs becomes more like as we need more secure, independent and comfortable life style in our retirement years.

(Figure 4)

LIFE STAGE STRUCTURE

HDFCSLIC have divided our whole life into four stages and describe above the different needs of our different stage. It all insurance plan are based upon these states and it tried to fulfill all the requirement of all the need of each stages of life through endowment plan, young star plan , retirement plus plan, and pension plus plan.

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ABOUT ULIP
We have toyed with the idea for a long time. Should we rank the unit-linked insurance plans (Ulips) in the market? The idea is exciting simply because it has never been done in India before.The idea is good because it allows an investor a handle with which to hold the product. Also, the idea is very daunting because comparing insurance policies is like trying to unravel a noodle soup. The more you stir, the more complicated it looks After discussing with the regulator, some industry leaders and those close to the insurance sector, Outlook Money decided to bite the bullet and get on with the ranking. This is where we realized what an overwhelming task we had taken on. Just comparing the return figure, as given by net asset value data, would be incorrect since a financial product is a function of cost and return. The minute we bring in costs, comparisons became almost impossible to carry out. Unlike the mutual fund product that has a very simple cost structure, Ulips carry a greater number of costs (administration and mortality), in addition to the others. To cut through the confusion and yet be relevant to you, we took illustrations from all 14 life insurance companies for their Ulips for ages 30 and 45. We assumed that a 30year-old was taking a 20-year policy for an SA of Rs 12.5 lakh, paying an annual premium of Rs 50,000. And a 45-year-old was taking a 10-year policy for an SA of Rs 7.5 lakh with the same premium (see How We Did It). Premiums are paid throughout the term. We also assumed that only the growth, or the fund with up to 100 per cent equity allocation, is chosen. Left with only nine companies, we looked at Type-I and Type-II policies. A Type-I policy just gives the higher of the sum assured or the fund value, making the policy buyer extremely vulnerable to a small corpus in case of an untimely death in the early part of the plan. A Type-II policy gives both the sum assured and the fund value, and sure, it costs more too.

RESULT
The winner in the Type-I category is Tata AIG Life's Invest Assure II, which has scored primarily because its one-year return, at 72 per cent, was way above the benchmark return of 53 per cent of the BSE Sensex. This despite the fact that it has a fund management charge of 1.75 per cent, more than double the 0.8 per cent that HDFC Standard Life charges. In fact, HDFC Standard Life has done very well on the cost parameter. The insurer is clearly the lowest cost one in our examples, but has lost out due to underperformance over the time period. At returns of 42.7 per cent, HDFC Standard Life has underperformed the benchmark by about 10 percentage points. In fact, Tata and Bharti have outperformed the index by 10 percentage points or more. Four companies were unable to beat the benchmark over a one-year period. In Type-II policies, there is much less competition, with just six companies in the fray. Kotak Life's Platinum Advantage is the winner and has a nice mix of lower costs and decent returns. It has consistently outperformed the benchmark.

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EARLY EXIT OPTIONSThe Ulip product works over the long term. The earlier the exit, the worse off is the investor since he ends up redeeming a high-front-load product and is then encouraged to move into another higher cost product at that stage. An early exit also takes away the benefit of compounding from him. An early exit option in a unit-linked plan shows how the product is structured. We found many products that clearly encouraged product churn by giving too many zero cost options to get out of the policy after the mandatory holding period was over. There are others, like the plans from MetLife, which encourage a longer holding term.

CREEPING COSTSSince the investors are now more aware than before and have begun to ask for costs, some companies have found a way to answer that without disclosing too much. People are now asking how much of the premium will go to work. There are plans that are able to say 92 per cent will be invested, that is, will have a front load of just 8 per cent. What they do not say is the much higher policy administration cost that is tucked away inside (adjusted from the fund value). While most insurance companies charge an annual fee of about Rs 600 as administration c+ Costs, that stay fixed over time, there are plans that charge this amount, but it grows by as much as 5 per cent a year over time. There are others that charge a multiple of this amount and that too grows.

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VISION AND VALUES

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

OUR VALUES
Values that we observe while we work:

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

CORPORATE GOVERNANCE
INTRODUCTION
The Corporate Governance Policy provides the framework under which the Board of Directors operates. It includes its corporate structure, culture, policies and the manner in which it deals with various stakeholders. The governance policies address the responsibilities, authority and administration of the Board of Directors. The policies also include the responsibilities of the Principal Officer and define the reporting relationships. Timely and accurate disclosure of information regarding the financial situation, performance, board constitution, ownership of the company etc. is an important part of corporate governance. Corporate governance arrangements are those through which an organisation directs and controls itself and the people associated with it. Corporate Governance Policy Code of Ethics Whistleblower Policy

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INSURANCE IN INDIA
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 Only 22% of the insurance population has been extended. Market penetration is low and the potential to exploit is high. Insurance premium per capita is very low. Lack of comprehensive social system benefit and welfare means that demand for pension products is high. Huge middle class of approximately300 million. Existing insurance company score low on customer service front. The insurance market registered growth in the Asian region even though India's share in global insurance premium is less than 0.5% (1998) as compared to USA (24.2%) and Japan (21%). Studies have revealed that in an emerging market, as disposable income rises, Insurance premium as a ratio of GDP shoots up. The Rs. 350 billion at present to Rs. 140 billion. The growth of non-life insurance premium is expected to increase from 75 billion to 375 billion. Out of which, only 10% is tapped by the existing insurer. Insurance even more than banking is a volume game. A very exclusive approach in view is unlikely to provide meaningful numbers. Currently, insurance is bought for the purpose of tax-benefits. A higher percentage of business is in rural market. The share of rural new business insurance to total new business is 55% in terms of policies and 47% in terms of sum assured. However, this needs to be viewed in the light of some recent issues that have been raised regarding as to what constitutes the rural market. Therefore, private insurers will be best served by middle market approach, targeting the customer segments that are presently unexploited. How many Indians are aware that LlC has more than 60 products and GIC has more than 180 products? Not only there is reduction in the premiums of life insurance products have overdue since Indian mortality rate has decreased three folds in the last 50 years. There is also scope to increase the yield on life insurance policies (presently 6%) with proper risk management in place. It is been debated that insurance business does not produce profit in the first five years cross subsidization is a feature of Indian market. Even the first portfolio vote that is considered profitable, cross subsidizes the other departments. Tariff reduction is likely to reduce profits; further insurers have to institute proper claims management progress in order to extract efficiencies. At present life insurance business in the country is taxed at 12.5% of the profit in financial year. The government is soon to present a new model of taxing life insurance companies at international rates. New entrants should be well advised to look ahead to the stage where brand strength will be a competitive advantage and sketch their alliances accordingly. In fact, we believe that alliance related to distribution rather than to products and technology will prove most valuable. Banks and financial companies will emerge, as an attractive distribution channel for this insurance trend will be led by two factors, which already apply in other world markets. First Banking food insurance, fund management and other financial services companies are being to increase their profitability and provide maximum value to their customers.

CURRENT STATUS

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The opening of the Indian insurance sector to 49 per cent foreign direct investment (FDI) is one of the more controversial economic reform measures that the United Progressive Alliance (UPA) government has taken. It is certainly one of the most contested decisions as, by any measure of profitability or efficiency, the statecontrolled insurance sector has performed remarkably well. The decision has predictably been welcomed by corporate India and the mainstream media as a step in the direction of insurance sector privatization. The announcement to increase the permissible foreign equity stake in an insurance company from the current level of 26 per cent to 49 per cent was made by the Finance Minister during his Budget speech in 2004, and again this year. This, despite sustained and informed opposition, not just from the Left, on whose support the present government is dependent, but also from the strong trade union movement within the insurance sector which has led a countrywide campaign of education and information on just how misconceived such a measure is from the point of view of the national interest. Significantly, there is also opposition to the liberalization of the insurance sector from other segments of the political spectrum, including the Congress party, within Parliament. Simply put, the opposition to the liberalization of the insurance sector rests on two arguments. The first is that public sector insurance, both in the life and non-life sectors, has performed remarkably well both in terms of profitability and reach since the nationalization of these sectors in 1956 and 1972 respectively. Therefore, there is no good reason to weaken these efficient and profitable entities, which disinvestment has already succeeded in doing. Second, there is not even a strong case for FDI in insurance based on the performance of the global insurance industry. Today there is a crisis of confidence among the insuring public in the West, as several leading global insurance players, including many who have opened operations in India, are under the scanner of regulatory bodies in their countries for irregularities ranging from failure to meet insurance claims, to financial mismanagement, to outright fraud. It is in this situation that foreign equity investment in insurance in India is being increased. At the end of the day, the "essence of efficiency in an insurance company is about whether your claims are paid or not," N.M. Sundaram, president, All India Insurance Employees Association (AIIEA), told Frontline. "In that, public sector performance is near 100 per cent. The world average is very much lower -it has stayed at 40 per cent or so. On these grounds, we are amongst the most efficient. The second aspect is that internationally, insurance companies are in very bad shape, both in America and Europe. The normal practice of a company in the United States is to repudiate the claims. In fact, the extent of fraud perpetrated in the U.S. is documented. A U.S. House of Representatives Sub-Committee in 1990 in a report called 'Failed Promises' analyzed it. Such a scenario was present in India before insurance nationalization".

40

Public sector monopoly over insurance was broken in 1999, when the National Democratic Alliance (NDA) government opened the sector to FDI. The Insurance Regulatory and Development Authority (IRDA) Act allows foreign companies a 26 per cent equity stake in Indian insurance companies. The entry-level capital requirement for private companies was kept at Rs.l00 crores. The table shows the number of registered insurers in India. The Life Insurance Corporation-of India (LIC) is the only life insurer in the public sector. Eleven of the 13 private companies have an FDI of26 per cent of the equity, one (HDFC) has 18.60 per cent, and Sahara India is wholly Indian owned. Seven of the eight private companies in the general insurance sector have foreign equity holdings of26 per cent. The only one that does not is Reliance General Insurance Co. Ltd. Of the 13 companies in the private life insurance sector, only one, namely Sahara India, does not have a foreign promoter. According to the IRDA Annual Report 2003-04, all the private life insurance companies made losses amounting to Rs.2, 91,275 lakhs after tax. The LIC, on the other hand, made Rs.55, 181 lakh profit after tax in this period. In the non-life sector, the combined profits after tax of the private sector companies was just Rs.6,7011akhs, whereas the combined profits of the public sector companies was Rs.l ,34,399 lakhs. The public sector still holds the overwhelming market share of premiums underwritten. Of the total premiums (first year premiums and renewal premiums) in 2002-03, the LIC had 95.29 per cent of the market share while the private sector has just 4.71 per cent. In the non-life segment, the new insurers held a market share of 13 per cent. The rationale for the liberalization of the insurance industry rests on the argument that. India requires a large dose of investment in social infrastructure, which will come from private insurance companies. Curiously, this was precisely the argument that was put forward by the government as justification of the nationalization of the life insurance industry in 1956. Life insurance was nationalized following a series of solvencies and bankruptcies of private insurance companies. More important, however, the government felt that in government hands, the sector would be able to channel resources for savings and national investment. Profit-driven private companies could not be expected to promote insurance in the rural areas. The private sector is unlikely to generate the anticipated funds. For social infrastructure, as 90 per cent of its premium income comes from unit-linked products that are invested in the stock market, a volatile and risky investment source. On the other hand, the total investments of the LIC that have gone directly into infrastructure development, stood at Rs.3, 43,128.80 crores on March 31, 2004. The corresponding amount generated by all the private insurers amounted to Rs.321 crores. Further, rural penetration by private insurers is almost non-existent, as they service the profitable, urban segment of the insurance market. By contrast, in 2003-04 alone 17.85 per cent of the new policies underwritten by the LIC were from the rural sector. The average policy size of an insurer in a private company is Rs.3, 00,000; the corresponding policy size in the LIC is Rs.72, 000, suggesting the different consumer segments that public and private insurance sectors service. The social objectives of insurance still remain relevant, 50 years after the nationalization of the life insurance sector, and five years after the entry of private

41

players in insurance. Despite the fact that India lags behind most other countries of the world on two important insurance indicators, namely insurance density (the share of insurance in the gross domestic product), and insurance penetration (the per capita expenditure on insurance), the fact remains that the LIC is the largest insurer in the world, servicing 17 crore policies. "The Finance Minister announced that the country needs $150 billion for infrastructure development," said Amanullah Khan, AIIEA general secretary. "One single institution, the LIC, can achieve that in six to seven years. The LIC is growing at 25-30 per cent, and in 2003-04 the total premiums it generated was Rs.63, 000 crores. Why does the government have to look outside for funds?" Current trends in the global insurance industry do-little to support the government's decision to liberalize at this stage. Several of the foreign insurance partners of Indian companies are in a serious credibility crisis with the insuring public. The big insurance scam that the U.S. media is avidly following is the investigation opened by U.S. Securities and Exchange Commission officials and the New York Attorney-General against the insurance giant, the American International Group (AIG), which holds 26 per cent stake in TATA-AIG Life Insurance Co. Ltd. Investigations are under way against its former chairman, Maurice R. Greenway, for his role in dressing up the company's financial results through questionable insurance transactions. The AIG's dealings with General Re, one of the biggest re-insurance vendors of the world, which had been acquired in 1998by a holding company owned by Warren E. Buffet, is part of the investigation. AIG has acknowledged that the deal with General Re was improper. The investigation has resulted in a steep fall in the stock price of the company, and in a lowering of its book value by $1.7 billion. In 2003, U.S. regulators conducted investigations into the business practices of Prudential Financial Services, the U.S. insurance company that has tied up with ICICI. According to media reports, regulators uncovered a range of & audulent sale practices, including the falsification of documents; forging of signatures, and the practice asking clients to sign blank forms. The company has been in trouble with regulators &om1993. In 1997 the company had to pay $2.6 billion in a class action lawsuit against & audulent life insurance sales practices. The U.S. media has reported on the suit filed by the California Insurance Commissioner against the insurance broker Universal Life Resources, MetLife, Prudential Financial, Cigna Corp and Unum Provident. MetLife has a 26 per cent equity stake in MetLife India Insurance Co. Ltd. According to media reports, Standard Life, which has an 18.6 per cent stake in HDFC Standard Life Insurance Co. Ltd, is also in deep financial difficultiesLife Insurance: Is there Life beyond LIC In India insurance is synonymous with the life insurance corp. of India (L.I.C.) LIC has become a generic name for insurance for the typical Indian. As a result, when the insurance industry liberalized last year, it created a buss among the community and people were expecting the works from the new players. But this has not happened yet. In contrast, it was LIC THAT HAS BEEN BENEFITED BY THE ENTRY OF PRIVATE PLAYERS. The company sold 7.7 million new policies between April and October 2001, mobilizing a total first premium income of Rs.6, 658 crore-a growth rate Close to 300%.

42

HUMAN RESOURCES
With over 1.8 lakh employees and 8 lakh agents, the Corporation is well set take on any competition. Though overstaffed, the corp. has initiated and exercises to get maximum return from its human capital. All manpower is being given extensive training at some of the top institutes in India. The corp. has close to 500 training center for agents where training is given to them on a continuous basis. The corp. has also strengthened its internal communication and performance management. With private players getting into the act, LIC has been on an aggressive mode by taking out innovative product & also sprucing up its delivery channels. Settlement of claims is also being given top priority.

CUSTOMER FRIENDLY STEPS ADOPTED

The corp. has taken major steps to be more customer friendly in the changing scenario and has taken up a customer relationship management (CRM) initiative to ensure they do not lose out to the new private players. The corp. has entered into strategic alliances with some of the country's premier institutions to obtain their services in enhancing the marketing skills of their staff. Apart from this, the corporation is also setting up to toll, free telephonic lines call centers and also revamping its entire grievances center.

RURAL MARKETS
With overall growth in rural income, more and more people are going in for life insurance. Most of rural India does not pay taxes, and unlike the rest country where people buy insurance. In order to get tax benefits rural INDIA is doing so for the love of life rather than to keep the tax man off their doorsteps LIC has been the gainer in this area as most new players do not have a presence in rural India. LIC sold 2 crore of new policies in 2000-01. This figure jumped by 365% in 2000-02 (up to Sept.) as compared to the same period the previous yr. With over half the policies being written in rural India. For LIC, the rural segment now represents over 55% of its total business. FOCUS ON INFORMATION TECHNOLOGY: The corporation has been focusing on the IT segment and rapidly adopting information technology for all its offices across the country. The company has plans to connect 90 centers through the Wide Area Network (WAN), which will ensure that 1,500 of its 2.048 branches will be covered. The corporation has also launched a facility where premium can be paid through the Internet. This has evoked a very good response from the public. LIC is also contemplating a call center for its customers. The company is also planning to come out with its Ovwennm software packages, which will help customer in tracking there policies. LIC has also offered finance advantages to its agents to purchase palm held devices, which will give them easy access to information needed to close a sale.

43

OVERSEAS OPERATIONS
The company has been exploring foreign markets for some- time hopes to generate 10% of its business form outside India with in the next 5 yrs. and will soon start operations in the US market. Currently 0.5% of its total business is generated form outside the country. The company also plans to open offices in Canada, Australia and New Zealand. The company has already started operations in Nepal last yr. and hopes to sell 10,000 policies in the first yr. Apart from Nepal, the company also has joint ventures in Kenya and Bahrain and runs operations in Mauritius, Fiji and London through its own branches. It also plans to strengthen its presence in Africa. In this way in short LIC is going to be the market leader for at least the next decade, there is room for everybody in the vast market to survive and proposer but the new private players must learn to live Under the shadow of the LIC.

INDUSTRY PROFILE
With such a large population and a large market area of this population still untapped Insurance happens to be a very big opportunity in India. Today it stands as a business growing at the rate of 15-20 per cent annually. Together with banking services, it adds about 7 per cent to the country's GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LlC for investments are 8 per cent of GDP. In spite of all this growth the statistics of the penetration of the insurance in the country is very poor. Nearly 80% of Indian populations are without Life insurance and the Health insurance. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This in itself is an indicator that growth potential for the insurance sector is immense in India. It was due to this immense growth potential that new regulations were introduced in the insurance sector and in continuation "Malhotra Committee" was constituted by the government in 1993 to examine the various aspects of the industry. The key element of the reform process was Participation of overseas insurance companies with 26% capital. Creating a more efficient and competitive financial system suitable for the requirements of the economy was the main idea behind this reform. Since then the insurance industry has gone through many sea changes .The competition LlC started facing from these companies were threatening to the existence of LlC. The opening up of the sector has lead to greater spread and deepening of insurance in India and also resulted in restructuring and revitalizing of the public sector companies. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001. Since the liberalization of the industry the insurance industry has never looked back and today stand as the one of the most competitive and exploring industry in India The entry of the private players and the increased use of the new distribution channels are transforming the insurance industry in India. The fusion of new distribution techniques and the IT tools has increased the scope of the industry in the longer run

44

The introduction of private players in the industry has added to the colors to this dull industry. The private players in the industry are very competitive and have given strong competition to the monopoly of the market which LlC has enjoyed for a long time. With the advent of the private players in the market the industry has seen new and innovative steps being taken by the players in this sector. The new players have improved the service quality of the insurance sector. As a result LlC has seen a steady decline in its market share. This market share has been distributed among the various private players. Though LlC still holds about 75% of the insurance sector the upcoming natures of these private players' means that LlC will have to face more competition in the near future. LlC market share has decreased from 95% (2002-03) to 81 %( 2004-05).

PRIVATIZATION OF INSURANCE
The Indian Insurance sector has finally opened up and it is with much anticipation that new players are awaiting their share of market. License have been issued to both Indian and foreign players - Reliance, HDFC-Standard Life, Max IndiaNew York, Royal Sundaram Alliance, ICICI Prudential, IFFCO Tokyo marine, Bajaj Allianz, Birla Sunlife, Tata AIG, AVIVA Life Insurance, SSI Life, OM Kotak Mahindra are some of the entrants into the newly liberalized Indian insurance market. ICICI Prudential and HDFC-Standard Life have issued their life policies the first from the private sector after 45 years. The first move for the liberalization came with the Malhotra Committee Report in 1993 which recommended the privatization of insurance, setting of an insurance regulatory authority and restructuring the government monopoly LlC and GIC and its subsidiaries. IRDA Act passed in November 1999 had set ball rolling for the entry of private players in domestic sector.

IRDA
The insurance sector has been opened up in India, as there was an urgent need. The international experience indicates those country with a liberalized insurance sector have witnessed a rapid growth in premium volumes enhancing the domestic saving rate. This happened in China, Malaysia and Singapore where a competitive market has led to improvement in services and quicker settlement of claims. It is also important to note that competition will bring about advancement in information, communication and technology. And rightly therefore a decision was taken by the Government of India to open up insurance sector. The establishment of IRDA in the month of April 2000 has been important development in this direction, making the end of monopoly in the insurance sector.

45

46

BUSINESS EXPANSION (BRANCHES)

HDFC STANDARD LIFE INSURANCE COMPANY LIMITED.
47

Head Office: IL&FS Financial Centre, Plot C22 - G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051. Telephone Number: 6932666 Website: www.hdfcinsurance.com HDFC Standard Life Insurance Companies Branches Name City Address Tel/Fax

HDFC Kanpur Standard Life Insurance Co. Ltd. HDFC Bhimavaram Standard Life Insurance Co Ltd. HDFC Guntur Standard Life Insurance Co Ltd. HDFC Hyderabad Standard Life Insurance Co Ltd. HDFC Hyderabad Standard Life Insurance Co Ltd. HDFC Hyderabad Standard Life Insurance Co Ltd. HDFC Kakinada Standard Life

HDFC Standard Life +91-0512 Insurance Company Limited 3982816 1ST floor, 102 &103,Ratan floors,113/120 Swaroop Nagar (Branch) Kanpur 1st floor, Vasanthi Complex (08816) 228 Opp. Ayyapa Swami Temple 035 / 229 305 J. P. road Bhimavaram - 534 202 1st Floor, 6-4-102, Arundel (0863) 3953108 / Peth, 4/3, Guntur - 522 002 2336305 / 6

1st floor, Veerabhadra Complex Opp. Ramalayam Kaman Near Kukatpally Bus Stop Kukatpally Hyderabad 500072 2nd floor MCH 8 - 2 - 293 / 82 / A -103 Road no. 36, Jubilee Hills Hyderabad 500033 16 - 11 - 19 / 11 Salim Nagar Colony Malakpet, Dilsukhnagar Hyderabad 500036 Srideepthi Towers (0884) 234 1st Floor 5630 / 50 / 60 / Subhash Road (Main Road) 395 8676
48

Insurance Co Ltd. HDFC Nellore Standard Life Insurance Co Ltd. HDFC Rajahmundry Standard Life Insurance Co Ltd. HDFC Secunderabad Standard Life Insurance Co Ltd. HDFC Vijayawada Standard Life Insurance Co Ltd. HDFC Visakhapatnam Standard Life Insurance Co Ltd. HDFC Guwahati Standard Life Insurance Co Ltd. HDFC Patna Standard Life Insurance Co Ltd. HDFC Durg Standard Life Insurance Co Ltd. HDFC Bilaspur Standard Life Insurance

Next to Chandana Brothers Kakinada 533001 Ground floor, 15 / 181 (0861) Kavita Krishna Annexe 3906 / 921 Subedar Peth Kanakamaha Centre Nellore 524001 230

10 - 2 - 2, 1st floor (0883) 240 0510 D. B. V. Raju Complex - 13 Opp. Pushkar Ghat Rajahmundry 533101 101 & 102, 1st floor (040) 55118999 'Lala 1 Landmark' opp. Raniganj bus stop 5 - 4 - 94, M. G. road Secunderabad 500003 M. L. Towers, 1st floor (0866) 249 Door no. 40 - 1 - 182 3507 / 249 3510 / M. G. road, Labbipet 249 6377 Vijayawada 520010 1st floor, Saigopal Arcade (0891) 250 Opp. Waltair Club, Waltair 8907 / 908 / 909 Main road, Siripuram Visakhapatnam 530003 3rd floor, Mayur Garden (0361) 246 opp. ABC bus stop, 2126 / 27/ 28 Bhangagarh Guwahati 781005 2nd floor, Nabyug building (0612) 222 3112 Opp. Bank of Maharashtra - 17 Exhibition road Patna 800001 3rd floor, Chauhan Estate, (0788) 509 1012 Near Chandra Maurya talkies,G. E. road, Bhilai, Durg District - 490 023 (Chattisgarh) 3rd floor, Office no. 202, (07752) 236911 / Rama Trade Centre, Opp. 913 / 923 Rajiv Plaza, Bus stand road, Bilaspur - 495 001

49

Co Ltd. HDFC Raipur Standard Life Insurance Co Ltd. HDFC New Delhi Standard Life Insurance Co Ltd. HDFC Janakpuri Standard Life Insurance Co Ltd. HDFC New Delhi Standard Life Insurance Co Ltd. HDFC Panaji Standard Life Insurance Co Ltd. HDFC Ahmedabad Standard Life Insurance Co Ltd. HDFC Mumbai Standard Life Insurance Co Ltd. HDFC Bharuch Standard Life Insurance Co Ltd. HDFC Bhavnagar Standard Life Insurance Co Ltd. 1st floor, Vanijya Bhavan, Sai (0771) Nagar,Devendra Nagar 0830 / 40 road,Raipur - 492 009 504

1st floor, H - 69, Outer Circle, (011) 5151 3618 Connaught Place, New Delhi 110001.

1st floor, B - 23, Community (011) 2552 Centre, Next to HDFC Bank, 0433 / 0430. Janakpuri, Delhi - 110 058.

47, Ring road, Lajpat Nagar 3, (011) 5189 7666 New Delhi - 110 024

G - 1, Ground floor, 'Milroc (0832) 222 2714 Lar Menezes', Opp. Old - 15 / 222 2878 Passport Office, Swami 79 Vivekanand road, Panaji, Goa - 403 001 2nd flr, Office no. 7, (079) 2640 3012 Panchratna bldg., Panchawati Circle, C.G. Road, Navrangpura, Ahmedabad 380 006 2nd floor, Suramya Complex, Near Mazda Bakery, Anand Vidyanagar road, Anand - 388 001 2nd floor, Gala no. 8 - 11, Aditya Complex, Near Kasak Fountain, Kasak road, Bharuch - 392 002 1st floor, 3, Patni Plaza, (0278) 554 Above Surabhi Super 2008 / 554 1009 Market,Neelam Bagh Chowk, Bhavnagar - 364 001

50

HDFC Jamnagar Standard Life Insurance Co Ltd. HDFC Gandhidham Standard Life Insurance Co Ltd. HDFC Mehsana Standard Life Insurance Co Ltd. HDFC Rajkot Standard Life Insurance Co Ltd. HDFC Ahmedabad Standard Life Insurance Co Ltd. HDFC Surat Standard Life Insurance Co Ltd. HDFC Vadodara Standard Life Insurance Co Ltd. HDFC Valsad Standard Life Insurance Co Ltd. HDFC Vapi Standard Life Insurance Co Ltd.

1st floor, Manek Center, (0288) 267 Pandit Nehru Marg, Opp. 0188 / 255 4799 Income Tax office, Jamnagar - 361 001 1st floor, M.R. Shah (02836) Chambers, Plot no. 355, 228533/35/14 Sector 12 B, Tagore road,Gandhidham, Dist.Kutch - 370 201 Ground floor, below Pakwan (02762) 230105 Dining Hall, Swami 7 Simandhar Society, Jaydev Complex, Nagalpur Highway road, Mehsana - 384 002 2nd floor, 'Sakar', Opp. (0281) 248 2471Rajkumar College, Near 4 Kathiawad Gymkhana, Dr. Radhakrishna road, Rajkot 360 001 2nd floor, Sumel complex, 079-26851636 / Opp. GNFC Info Tower, S. G. 1681 / 1690 / road / Highway, Ahmedabad - 1858 380 054 M 11 - M 16, Mezanine floor, (0261) 246 Jolly Plaza, Athwa Gate, Surat 0975 / 1083 / - 395 001 0328 / 1598 / 247 1224 3rd Floor, 'Pelican', Opp. (0265) 233 Racecourse Towers, Gotri 7244 / 7773 / road, Vadodara - 390 00 7780

1st foor, Mangalmurti, Opp. Dreamland Cinema, Tithal road, Valsad - 396 001

Upper Ground floor, Emperor, (0260) 246 Daman road, Chala, Opp. 1558 / 1678 / Sardar Biladwala Bank, Vapi 1725 - 396 191

51

HDFC Ambala Standard Life Insurance Co Ltd. HDFC Faridabad Standard Life Insurance Co Ltd. HDFC Gurgaon Standard Life Insurance Co Ltd. HDFC Hissar Standard Life Insurance Co Ltd. HDFC Karnal Standard Life Insurance Co Ltd. HDFC Panipat Standard Life Insurance Co Ltd. HDFC Rohtak Standard Life Insurance Co Ltd. HDFC Yamuna Nagar Standard Life Insurance Co Ltd. HDFC Shimla Standard Life Insurance Co Ltd.

1st floor, Sudarshan Towers, (0171) 260 Cross road no. 1,Nicholoson 1318 / 1383 road, Ambala Cantt., Ambala - 133 001 2nd floor, SCF - 52, Near (0129) 222 Nirulas, Sector - 15 Market, 6720 / 21 / 500 Faridabad - 121 007 9570 / 71

Ground floor, S. C. O - 14, (0124) Near Nirula's Restaurant, 4585 / 6 / 7 Delhi Gurgaon road,Gurgaon - 122 001

508

1st floor, Kamla Palace, 57 - (01662) 272 004 60, Kamla Nagar,Red Square 7 Market, Hissar - 125 001

Narayan Plaza, SCO, 778, (0184) 220 6842 779, Kunjpura road, Opp. - 45 Mahavir Dal, Karnal - 132 001 1st floor, Lal Batti Chowk, (0180) 264 7883 Near Ludhiana Shawl - 5 Market,G. T. road, Panipat 132 103 1st floor, Above Hero Honda Show room, Shakuntala bldg; Main Delhi-Rohtak road, Rohtak - 124 001 1st Floor, Plot No 1/75, Opp. (01732) 550210 Mira Bazar, Near Fountain Chowk, Yamuna Nagar - 135 001 3rd floor, Saligarm Bhawan, (0177) 262 8804 Main road, Opp. Shimla - 09 Public School, Khalini, Shimla - 171 002

52

HDFC Jammu Standard Life Insurance Co Ltd. HDFC Jamshedpur Standard Life Insurance Co Ltd. HDFC Bangalore Standard Life Insurance Co Ltd. HDFC Dharwad Standard Life Insurance Co Ltd. HDFC Gulbarga Standard Life Insurance Co Ltd. HDFC Mysore Standard Life Insurance Co Ltd. HDFC Kannur Standard Life Insurance Co Ltd. HDFC Kochi Standard Life Insurance Co Ltd. HDFC Kollam Standard Life Insurance Co Ltd. HDFC Kottayam

1st floor, Jammu Ford (0191) 250 building, 6, Aknoor road, 1708 / 2008 Jammu - 180 001

3rd floor, Jha Niwas, (0651) 248 Opp.Hotel Yuvraj 1902 / 0560 / Palace,Diversion road, 0794 / 2057 / Doranda Ranchi - 834 002 0058 (Jharkhand) 2nd floor, Block 2A, Esquire (080) 5139 1234 Centre, No. 9, M. G. road, Bangalore - 560 001

1st floor, CTS no. 69, Rao (0836) 244 Saheb, A. C. K. Complex, 0511 / 512 / 711 / Near Jubilee Circle / Kittle 712 College, P. B. road, Dharwad - 580 0 2nd floor, Asian Plaza, Opp. (08472) 256 Syndicate Bank, Timmapuri 722 / 256 533 / Circle, SPT Chowk, Gulbarga 256 844 / 256 - 585 102(Karnataka) 225 Venjay Edifice, No. 37, 1st (0821) 525 floor, JLB road, 0300 / 0400 / 243 Chamarajapuram, Mysore - 8412 / 8413 570 004 (Karnataka) 2nd floor, Highway Arcade,T. (0497) K. Junction, Thalassery 1518 / 19 road,Kannur - 670 001 (Kerala) 271

C/o. HDFC Ltd.5th floor, (0484) 235 'HDFC House', Ravipuram 8460 / 61 / 63 Junction, M. G. Road, Kochi 682 015 2nd floor, A. Narayanan (0474) 309 Shopping Complex,Opp. 5388 / 395 1988 Dhanya Theatre, Kadapakkada, Kollam - 691 008 Ground floor, Kadavil (0481) 3950984

53

Standard Life Insurance Co Ltd. HDFC Kozhikode Standard Life Insurance Co Ltd. HDFC Malappuram Standard Life Insurance Co Ltd. HDFC Palakkad Standard Life Insurance Co Ltd. HDFC Thiruvalla Standard Life Insurance Co Ltd.

buildings, Opp. Plantation,Muttambalam P.O., Kottayam - 686 004 (Kerala) 2nd floor, Friend Commercial (0495) 274 Complex, Mavoor road, 1066 / 1227 / Kozhikode (Calicut) - 673 016 1993 / 2755 / (Kerala) 3223 / 1470 1st floor, SBI Buildings, Opp. (0483) 276 Kseb Bhavan,Calicut road, 2350 / 210 0278 Manjeri, Malappuram - 676 121 (Kerala) 2nd floor, Udaya Towers, (0491) 309 Opp. Rapadi Stadium, West 2239 / 309 2666 Fort road, Palakkad - 678 001 (Kerala) 2nd floor, Pulimittathu (0469) building,(Air India building) 4289 / 90 M. C. road,Muthoor P.O., Thiruvalla - 689107 (Kerala) 394

HDFC Thiruvananthapuram Blue Towers, Power House (0471) 2469722 / Standard road, Chenthitta,P. H. road, 33 / 44 / 55 Life Near Railway Station, Insurance Thiruvananthapuram Co Ltd. (Trivandrum) - 695 036 (Kerala) HDFC Trichur Standard Life Insurance Co Ltd. HDFC Bhopal Standard Life Insurance Co Ltd. HDFC Guna Standard Life Insurance Co Ltd. HDFC Gwalior 1st floor, Global Center, Opp. (0487) 238 Centre Point, M. G. road, 4426 / 4429 / Trichur (Thrissur) - 680 004 4434 / 4533 / (Kerala) 4446 1st floor, Star Planet, Plot no. (0755) 527 9, Zone II, M. P. Nagar, 5985 / 526 9333 Bhopal - 462 011

1st floor, 975 / 6 & 975 / 3, (07542) 501 582 Above Sarita Decorar, A. B. road, Near State Bank of Indore, Guna - 473 001 (Madhya Pradesh) 2nd floor, Narayan Krishna, (0751) 223

54

Standard Life Insurance Co Ltd. HDFC Indore Standard Life Insurance Co Ltd. HDFC Jabalpur Standard Life Insurance Co Ltd. HDFC Sagar Standard Life Insurance Co Ltd. HDFC Aurangabad Standard Life Insurance Co Ltd. HDFC Akola Standard Life Insurance Co Ltd. HDFC Amravati Standard Life Insurance Co Ltd. HDFC Andheri Standard Life Insurance Co Ltd. HDFC Aurangabad Standard Life Insurance Co Ltd. HDFC Chandrapur Standard

44, City Centre, Gwalior - 474 5114 / 118 002. (Madhya Pradesh)

1st, floor, 103, Bansi Trade (0731) Centre, 581 / 5, M. G. road, 5048 / 49 Indore - 452 001

506

1st floor, 123, Manukalp, (0761) Rameshwar Nilay,Napier 2985 / 6 Town, Jabalpur - 482 001. Madhya Pradesh

503

1st floor, H. no. 264, Gujarati (07582) 507 753 Bazar, Jabalpur road, Sagar 470 002 (Madhya Pradesh)

Ground floor, C/o. Hotel (0241) 243 Natraj,Nagar - Aurangabad 1734 / 1735 / road, Ahmednagar - 414 001 0405

2nd Floor, Madhumati (0724) 242 Vihar,Ratanlal Plot 3476 / 243 1730 Square,Akola-444001

1st floor, Gurudham (0721) 257 Chambers, Opp. Rajapeth 8537 / 6486 Police Station, Badnera road, Amravati 444 606 (Maharashtra) 1st floor, 'A' wing, Trade Star building,Near Hotel Kohinoor Continental, Andheri - Kurla road, Andheri (East), Mumbai - 400 059 1st floor, 'Saakar', CTS no. (0240) 234 1864 18030, Adalat road, Kranti - 66 Chowk, Aurangabad - 431 003 1st floor, Shri Sanmati (077172) Complex, Near Sapna Talkies, 368 395

55

Life Insurance Co Ltd. HDFC Mumbai Standard Life Insurance Co Ltd. HDFC Jalgaon Standard Life Insurance Co Ltd. HDFC Jalna Standard Life Insurance Co Ltd. HDFC Kolhapur Standard Life Insurance Co Ltd. HDFC Nagpur Standard Life Insurance Co Ltd. HDFC Nanded Standard Life Insurance Co Ltd. HDFC Nashik Standard Life Insurance Co Ltd. HDFC Navi Mumbai Standard Life Insurance Co Ltd. HDFC Pune Standard Life

Zilla parishad Chandrapur - 442 401

road,

Ground Floor, Churchgate (022) 5631 6988 Chambers, Next to USIS, New Marine Lines, Mumbai 400 020 Patel Plaza, 1 Housing (02572)239597 / Society, M.G. Road, Jalgaon - 9598 / 5611996 425 001

Sheetal Coomercial (02482) 243478 Complex,Shivaji Chowk, 79 Jalna-431203

1st floor, E - 399, Ratikamal (0231) 265 5601 Complex, Opp. Basant Bahar 03 Talkies, Assembly road, New Shahupuri, Kolhapur - 416 002. 3rd floor, Shriram Shyam (0712) 252 Towers, Sadhu Waswani 5616 / 18 / 561 Square, S. V. Patel marg, 8455 Sadar, Nagpur - 440 001 Shop no. 7 & 8, C/o. Hotel (02462) 394097 Ashiana Park.Opp. SBI Bank, Nanded 431 602 (Maharashtra) 1st floor, Sethi's City Plaza, (0253) 250 8521 Opp. Kalika Mandir, Old - 4 Agra road, Nashik - 422 001.

Ground floor, Near Lakshdeep (022) 2766 Hospital, Plot No. IC / 2, 8423 / 9234 / Sector 9 A, Vashi, Navi 9529 / 9571 Mumbai - 400 703 2nd floor, Kohinoor Arcade, (020) 2765 SDC no. 2, Sector 24, Tilak 2738 / 9015 Chowk, Mumbai - Pune road,

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Insurance Co Ltd. HDFC Ratnagiri Standard Life Insurance Co Ltd. HDFC Solapur Standard Life Insurance Co Ltd. HDFC Shillong Standard Life Insurance Co Ltd.

Nigadi, Pune - 411 044. Block No. 9 to 13, 2nd (02352) 309396 / Floor2nd Floor.,Paras Plaza, 271501 / 502 Near Maruti Mandir Chowk, Ratnagiri-415612 Ground & Mezzanine floor, (0217) 2231 Harshawardhan Towers, 84, 6611 / 6633 / Railway Lines, Solapur - 413 6677 001 Hotel Alpine Continental (0364) 2223552 / Complex, Quinton / Thana 54 / 69 Road, Quinton Road, Police Bazaar, Shillong - 793 001

MORE ABOUT HDFC STANDARD LIFE INSURANCE

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

ABOUT HDFC, STANDARD LIFE AND JOINT VENTURE

HDFC-81.4% STANDARD LIFE-18.6% HDFC Limited. HDFC Limited. HDFC is Indias leading housing finance institution and has helped build more than 23, 00,000 houses since its incorporation in 1977. In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor base now stands at around 1 million depositoRs. Rated AAA by CRISIL and ICRA for the 10th consecutive year stable and experienced management High service standards Awarded The Economic Times Corporate Citizen of the year Award for its longstanding commitment to community development. Presented the Dream Home award for the best housing finance provider in 2004 at the third Annual Outlook

Money Awards.
Standard Life Group (Standard Life PLC and its subsidiaries) The Standard Life group has been looking after the financial needs of customers

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

KEY STRENGTH:
Financial Expertise o As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently. Range of Solutions o We have a range of individual and group solutions, which can be easily customized to specific needs. Our group solutions have been designed to offer you complete flexibility combined with a low charging structure. Track Record so far o Our gross premium income, for the year ending March 31, 2008 stood at Rs. 4,859 cores and new business premium income stood at Rs. 2,685 cores. The company has covered over 9, 59,000 lives year ending March 31, 2008.

ASSOCIATE COMPANIES

HDFC Limited

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HDFC Bank

HDFC Mutual Fund

HDFC Sales

HDFC ERGO General Insurance OTHER COMPANIES

HDFC Trustee Company Ltd. GRUH Finance Ltd. HDFC Developers Ltd. HDFC Property Ventures Ltd. HDFC Ventures Trustee Company Ltd. HDFC Investments Ltd. HDFC Holdings Ltd. Credit Information Bureau (India) Ltd

THE HDFCS BRANCASSURANCE PANTNER BANCASSURANCE

Banc assurance is the distribution of insurance products through the bank's distribution channel. It is a phenomenon wherein insurance products are offered through the distribution channels of the banking services along with a complete range of banking and investment products and services. To put it simply, Bancassurance, tries to exploit synergies between both the insurance companies and banks
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o o o o o o

HDFC bank UNION BANK OF INDIA INDIAN BANK SARASWATI BANK BANK OF BARODA BAJAJ CAPITAL

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61

BUSINESS OF HDFC
HDFC LIMITED
HDFC Limited, Indias premier housing finance institution has assisted more than 3.3 million families own a home, since its inception in 1977 across 2400 cities and towns through its network of over 250 offices. It has international offices in Dubai, London and Singapore with service associates in Saudi Arabia, Qatar, Kuwait and Oman to assist NRIs and PIOs to own a home back in India. As of December 2008, the total
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asset size has crossed more than Rs. 95,000 crores including the mortgage loan assets of more than Rs. 82,800 crores. The corporation has a deposit base of Rs. 17,551 crores, earning the trust of more than 9,00,000 depositors. 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, and Bangladesh in the setting up of housing finance companies.

Standard Life Group (Standard Life plc and its subsidiaries)

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

LIFE INSURANCE PRODUCTS

BASIC ELEMENTS
Whole life policy: It covers the insured for life. The insured does not receive money while he is alive; the nominee receives the sum assured plus bonus upon the death of the insured.

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Team Policy: This is a pure risk policy. Under this nominee receives the sum assured only if the policyholder dies before the expiry of the term of policy. No bonus is given in this policy. And the premium is generally very low. Endowment policy: it covers the insured for a specific period. The insured or the nominee receives the sum assured on survival of the term or on the death whichever is earlier. Money back policies: The nominee receives money on death of the insured. On survival the insured receives money at regular intervals during the term. This policy costs more than endowment with profit policies. Annuities / childrens policy: The nominee receives a guaranteed amount of money at a predetermined time and not immediately on death of the insured. On survival the insured receives money at the same pre-determined time. These policies are best suited for planning childrens future education and marriage costs Pension schemes: These policies provide benefits to the insured only upon the retirement. If the insured dies during the term of the policy, his nominee would receive the benefits either as a lump sum or as a pension per month. Riders: Riders are a kind of additional features at a very low price that can be attached to the simple policy to increase its coverage and to make them more attractive. Some very popular riders are Term Riders, Disability and Dismemberment rider, waiver of premium rider, and critical illness rider etc.

DIFFERENT DEPOSIT SCHEMES IN HDFC SLIC PROTECTION PLANS

HDFC Term Assurance Plan HDFC Loan Cover Term Assurance Plan
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HDFC Home Loan Protection Plan

HDFC TERM ASSURANCE PLAN

This plan is designed to help secure our familys 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. We can choose the lump sum that would replace the income lost to our family in the unfortunate event of ones death. This helps our family to maintain their financial independence, even when we are not around. FEATURES

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 LOAN COVER TERM ASSURANCE PLAN

This aims to protect our family from our loan liabilities in case of our unfortunate demise within the policy term. It provides the beneficiary with a lump sum amount, which is a decreasing percentage of the initial Sum Assured. This means that as the outstanding loan decreases as per the loan schedule, the cover under the policy also decreases as per the policy schedule.

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FEATURES

ADVANTAGES

Flexibility to choose the Sum Assured. Decreasing Sum Assurance as the outstanding loan decreases ensures that you do not pay for the protection you dont need. Additional Optional Benefit is available at a nominal cost. Option of paying single premium or regular premium. Tax benefits are offered under section 80C, 80 D and 10(10D) of the Income Tax Act, 1961

HDFC HOME LOAN PROTECTION PLAN

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

FEATURES

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ADVANTAGES

A decreasing Sum Assured payable if we die during the term of the contract. This sum assured is intended to help pay-off our 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 we do not pay for protection we dont need

CHILDREN'S PLANS
HDFC Children's Plan HDFC Unit Linked Young Star II HDFC Unit Linked Young Star Plus II HDFC Unit Linked YoungStar Champion

HDFC CHILDRENS PLAN

As a parent, our priority is our childs future and being able to meet our childs dreams and aspirations. With our HDFC Childrens Plan, we can start building our savings today and ensure a bright future for our child. This With Profits plan is designed to secure our childs future by giving our child (Beneficiary) a guaranteed lump sum on maturity or in case of our unfortunate demise, early into the policy term.

FEATURES
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ADVANTAGES

Lets customise an ideal plan for our child and provide invaluable financial support . The Double Benefit Plan Option helps us to secure our childs immediate and future needs. In case of our unfortunate demise, we will pay the Sum Assured to our child (Beneficiary). Our family need not pay any further premiums and the policy continues. And on maturity of the plan, company will pay us the Sum Assured plus Bonuses Declared We can choose to pay our premium as either Annually, Half-Yearly or Quarterly depending on our convenience. We also have a range of convenient auto premium payment options. Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC UNIT LINKED YOUNG STAR II

As a parent, our priority is our childs future and being able to meet our childs dreams and aspirations. With HDFC Unit Linked Young Star II, we can start building our savings today and ensure a bright future for our child. This plan provides valuable protection to our child in case you are not around. This Unit Linked Plan also gives ou with an outstanding investment opportunity to maximise our savings by providing ou a choice of thoroughly researched and selected investments.

FEATURES
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ADVANTAGES
We can customise the ideal plan for our child by choosing the premium we wish to invest along with the Sum Assured, depending on the level of protection required The Triple Benefit payment preference helps to secure our childs immediate and future needs. In case of our unfortunate demise or critical illness, we will pay the Sum Assured to our child (Beneficiary). Our family need not pay any further premiums. We will pay 50% of all the future premiums at the original level towards our 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 In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) We can choose to pay our premium as either Annually, Half-Yearly or Monthly depending on our convenience. We also have a range of convenient auto premium payment options . We can change your investment fund choices in two ways: o Switching: we can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961.

HDFC UNIT LINKED YOUNG STAR PLUS II

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As a parent, our priority is our childs future and being able to meet our childs dreams and aspirations. With our HDFC Unit Linked Young Star II, we can start building our savings today and ensure a bright future for our child. This Unit Linked Plan provides valuable protection to our child in case we are not around and gives us with an outstanding investment opportunity to maximise our savings by providing our a choice of thoroughly researched and selected investments. This plan also gives regular Loyalty Units to boost our fund value each year.

FEATURES

ADVANTAGES

This plan gives us regular Loyalty Units to boost our fund value every year. At the end of every policy year, we will increase the number of units (Loyalty Units) in each of our funds by 0.10% as long as our policy is in force (premium paying or paid up). The compounding effect of these regular additions is expected to boost your final maturity value We can customise the ideal plan for our child by choosing the premium we wish to invest along with the Sum Assured, depending on the level of protection required The Triple Benefit payment preference helps us to secure our childs immediate and future needs. In case of our unfortunate demise or critical illness, we will pay the Sum Assured to our child (Beneficiary). Our family need not pay any further premiums. We will pay 50% of all the future premiums at the original level towards our 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 In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) You can choose to pay our premium as either Annually, Half-Yearly or Monthly depending on our convenience. We also have a range of convenient auto premium payment options

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We can change our investment fund choices in two ways: o Switching: We can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC UNIT LINKED YOUNGSTAR CHAMPION

As a parent, our priority is our childs future and being able to meet our childs dreams and aspirations. With our HDFC Unit Linked Young Champion, We can start building our savings today and ensure a bright future for our child. It is a convenient plan, which saves us from the need of going for Medicals. This Unit Linked Plan provides valuable protection to our child in case we are not around and gives us with an outstanding investment opportunity to maximise our savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

FEATURES

ADVANTAGES
No need to go for medicals. Just filling a Short Medical Questionnaire will do
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This plan gives us Bumper Addition to the fund value at Maturity. our fund value will be augmented by addition of Bumper Addition, which is a percentage of our original annualized premium The Triple Insurance Benefit helps us secure our childs immediate and future needs. In case of our unfortunate demise within the policy term, we will pay the Sum Assured to our child (Beneficiary). Our family need not pay any further premiums. We will pay 50% of the original regular premiums towards our policy. On maturity our child will receive the fund value plus the Bumper Additions (if eligible) In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) We can choose to pay our premium as either Monthly (through Standing Instructions or ECS Mandate) or Annually. We also have a range of convenient auto premium payment options We can change our investment fund choices in two ways: o Switching: We can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

RETIREMENT PLANS

HDFC Personal Pension Plan HDFC Unit Linked Pension II HDFC Unit Linked Pension Maximiser II HDFC Immediate Annuity

HDFC PERSONAL PENSION PLAN

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Today, we are busy climbing the ladder of success and realizing our dreams. Today, time is with us. Just take a moment and think. Will we be able to continue at the same pace? Will our income be the same forever? Will we be able to live life on our own terms even after our retire? The HDFC Personal Pension Plan is a With Profits insurance policy that is designed to provide a post-retirement income for life with the freedom to choose our retirement date.

FEATURES

ADVANTAGES
This plan is designed to provide us a post retirement income for life We can choose our premium, the Sum Assured and our retirement date. At the end of the policy term, we will receive the Sum Assured plus any attaching bonuses, which will provide us a post retirement income in our golden years On our chosen retirement (Vesting) date, you will get the lump sum comprising the Sum Assured plus any attaching bonus. o We can take up to 1/3rd of your Sum Assured as a tax free cash lump sum o The rest must be converted to annuity o We can buy the annuity from us or any other insurer o For Regular Premium Policy, we can choose to pay our premium as either Annually, Half-Yearly or Quarterly depending on our convenience. We also have a range of convenient auto premium payment options Tax benefits under sections 80CCC of the Income Tax Act, 1961

HDFC UNIT LINKED PENSION II

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Today, we are busy climbing the ladder of success and realizing our dreams. Today, time is with you. Just take a moment and think. Will our income be the same forever? Will we be able to live life on our own terms even after our retire? The HDFC Unit Linked Pension II is Unit Linked plan, designed to provide a post-retirement income for life with the freedom to choose our retirement date. This plan gives us with an outstanding investment opportunity to maximise our savings by providing us a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at vesting.

FEATURES

ADVANTAGES
This plan is designed to provide us a post retirement income for life We can choose our premium, the Sum Assured and our retirement date. At the end of the policy term, we will receive the accumulated value of our funds, which will be used to provide our pension income in our golden years This plan gives us Bumper Addition to the fund value on Vesting. our fund value will be augmented by addition of Bumper Addition to the extent of 50% of our original annualised premium chosen at inception On our chosen retirement (Vesting) date, we will get the value of the units in our policy. As per prevailing Government regulations; o We can take up to 1/3rd of the total benefit at Vesting (fund value + Bumper Addition) as a tax-free cash lump sum o The rest must be converted to annuity o We can buy the annuity from us or any other insurer

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In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) If we have not opted for AAO (Asset Allocation Option), we can change our investment fund choices in two ways: o Switching: We can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need We can choose to pay our premium as either Monthly (through Standing Instructions or ECS Mandate), Half yearly or Annually. We also have a range of convenient auto premium payment options .

HDFC UNIT LINKED PENSION MAXIMISER II

Ideally, just how spending comes to us, so must saving and investing. We are able to finance our expenses and take care of our expenses in present times. However, to ensure that we are able to maintain the same standard of living post retirement, we need to make the right kind of investment today. HDFC Unit Linked Pension Maximiser II is a unique Single Premium unit linked plan, designed to provide a postretirement income for life with the freedom to maximise our investment returns. This plan also gives Bumper Addition of 10% of initial single premium at vesting and on death.

FEATURES

ADVANTAGES

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This plan is designed to provide us a post retirement income for life We can choose our initial single premium, the investment strategy and retirement date. At the end of the policy term, we will receive the accumulated value of our funds including Bumper Additions, which will be used to provide our pension income in our golden years This plan gives us Bumper Addition (for policies with term equal or greater than 15 years) to the fund value on Vesting. Our fund value will be augmented by addition of Bumper Addition to the extent of 10% of the initial single premium chosen at inception On our chosen retirement (Vesting) date, us will get the value of the units in our policy. As per prevailing Government regulations; o You can take up to 1/3rd of the total benefit at Vesting (fund value + Bumper Addition if any) as a tax-free cash lump sum o The rest must be converted to annuity o We can buy the annuity from us or any other insurer In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) Company can change our investment fund choices through switching where we can move our accumulated funds from one fund to another anytime Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to the provisions contained therein

HDFC IMMEDIATE ANNUITY

The HDFC Immediate Annuity is a contract that uses our capital to provide us with a guaranteed gross income through out our lifetime or over a period of our choice. The income is guaranteed and is unaffected by the rise and fall of interest rates. This means we can plan our life the way we want it to be, safe in the knowledge that our gross income will not fall during the period we have selected. The HDFC Immediate Annuity offers a number of options to meet all our income needs.

FEATURES

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ADVANTAGES

Income for Temporary Period Option: We can choose to limit the payment period of annuity if we only require an income for a specified time. The annuity is payable for our selected term provided us are still alive. No annuity is payable after the chosen term has expired. We 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, we can choose an annuity that will pay out a benefit on your death or, if we have chosen to provide an annuity for a named individual, on the later of our and the named individuals death. We 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 o If we 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 our application form. This annuity will be paid if we die before the named individual. The amount of their annuity can be the same as our annuity or a proportion of our annuity

SAVINGS & INVESTMENT PLANS

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HDFC Unit Linked Endowment Plus II HDFC SimpliLife HDFC Unit Linked Endowment II HDFC Unit Linked Enhanced Life Protection II HDFC Unit Linked Wealth Maximiser Plus HDFC Unit Linked Wealth Multiplier HDFC Unit Linked Endowment Winner HDFC Money Back Plan HDFC Single Premium Whole of Life Insurance Plan HDFC Assurance Plan HDFC Savings Assurance Plan

HDFC UNIT LINKED ENDOWMENT PLUS II

As a judicious family man, our priority is to secure the well-being of those who depend on us. Not just for today, but also for the long term. With our HDFC Unit Linked Endowment Plus II, we can start building our savings today and ensure that our family remains financially independent, even when we are not around. This Unit Linked plan provides valuable protection to our family in case we are not around and gives you with an outstanding investment opportunity to maximise our savings by providing you a choice of thoroughly researched and selected investments. This plan also gives regular Loyalty Units to boost your fund value each year.

FEATURES

ADVANTAGES

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This plan gives us regular Loyalty Units to boost our fund value every year. At the end of every policy year, we will increase the number of units (Loyalty Units) in each of our funds by 0.10% as long as our policy is in force (premium paying or paid up). The compounding effect of these regular additions is expected to boost your final maturity value This plan provides valuable protection to our family in case we are not around. In case of our unfortunate demise during the policy term, we will pay the greater of our Sum Assured (less any withdrawals you have made in the two years before your claim) and our total fund value to our family. we can choose any one of 4 Additional Plan Benefit options depending on our requirement: o Life Option = Death Benefit o Extra Life Option =Death Benefit + Accidental Death Benefit o Life & Health Option = Death Benefit + Critical Illness Benefit o Extra Life & Health Option = Death Benefit + Critical Illness Benefit + Accidental Death Benefit we can choose to pay our premium as either Annually, Half-Yearly or Monthly depending on our convenience. we also have a range of convenient auto premium payment options we can change our investment fund choices in two ways: o Switching: We can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC SIMPLILIFE
We have always believed in living life on our own terms. So why let the changing realities of everyday life overwhelm we and make our aspirations take a back seat? With our HDFC SimpliLife Plan, we can plan now to maximise our savings and secure our and our familys future. It is a convenient plan, which saves we from the need of going for Medicals. This Unit Linked Plan gives us with an outstanding investment opportunity to maximise our savings by providing us a choice of thoroughly researched and selected investments.

FEATURES
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ADVANTAGES
This plan provides valuable protection to our family in case we are not around. In case of our unfortunate demise during the policy term, we will pay the Unit Fund Value plus Sum Assured to our family. In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) We can choose to pay our premium as either Annually or Half-Yearly depending on our convenience. We can also have a range of convenient auto premium payment options We can change your investment fund choices in two ways: o Switching: we can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC UNIT LINKED ENDOWMENT II

We have always given our family the very best. And there is no reason why they should not get the best in future too. With rising costs, ensuring the best got our family will need some financial planning. With our HDFC Unit Linked Endowment II, we can start building our savings today and ensure that our family remains financially independent, even when we are not around. This Unit Linked Plan also gives us with an outstanding investment opportunity to maximise our savings by providing us a choice of thoroughly researched and selected investments

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FEATURES

ADVANTAGES:
This plan provides valuable protection to our family in case we are not around. In case of our unfortunate demise during the policy term, we will pay the greater of our Sum Assured (less any withdrawals we have made in the two years before your claim) and our total fund value to our family. We can choose any one of 4 Additional Plan Benefit options depending on our requirement: o Life Option = Death Benefit o Extra Life Option = Death Benefit + Accidental Death Benefit o Life & Health Option = Death Benefit + Critical Illness Benefit o Extra Life & Health Option = Death Benefit + Critical Illness Benefit + Accidental Death Benefit In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) We can choose to pay your premium as either Annually, Half-Yearly or Monthly depending on your convenience. we also have a range of convenient auto premium payment options We can change your investment fund choices in two ways: o Switching: We can move our accumulated funds from one fund to another anytime o Premium Redirection: We can pay our future premiums into a different selection of funds, as per our need

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Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC UNIT LINKED ENHANCED LIFE PROTECTION II

We have always given our family the very best. And there is no reason why they should not get the best in future too. With our HDFC Unit Linked Enhanced Life Protection II, we can start building our savings today and ensure that our family remains financially independent, even when we are not around. This Unit Linked Plan also gives us with an outstanding investment opportunity to maximise our savings by providing us a choice of thoroughly researched and selected investments. In this plan, the original Sum Assured chosen by we will be automatically increased by 5% each year giving our family benefit of enhanced protection.

FEATURES

ADVANTAGES
This plan provides valuable protection to our family in case we are not around. In case of our unfortunate demise during the policy term, we will pay the greater of our Sum Assured (less any withdrawals we have made in the two years before your claim) and our total fund value to our family. In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) We can choose to pay our premium as either Annually, Half-Yearly or Monthly depending on your convenience. We also have a range of convenient auto premium payment options We can change our investment fund choices in two ways:
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Switching: We can move your accumulated funds from one fund to another anytime o Premium Redirection: We can pay our 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 UNIT LINKED WEALTH MAXIMISER PLUS

This plan gives you Bumper Addition to the fund value at Ideally, just how spending comes to you, so must saving and investing. You are able to finance your expenses and take care of your familys needs in present times. However, to ensure that family is able to maintain the same standard of living in the future, you need to make the right kind of investment today. HDFC Unit Linked Wealth Maximiser Plus, a unique Single Premium investment cum protection plan is a tailor made plan well suited to meet your long-term investment needs and help you maintain your familys financial independence. This plan also gives regular Loyalty Units to boost your fund value each year.

FEATURES

ADVANTAGES

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This plan not only strives to maximise your investment return and providing longterm real growth for your money but also gives you an enhanced flexibility to suit your protection needs. This plan gives you regular Loyalty Units to boost your fund value every year. At the end of every policy year, we will increase the number of units (Loyalty Units) in each of your funds by 0.10% as long as your policy is not surrendered. The compounding effect of these regular additions is expected to boost your final proceeds. In case you opt for 1.1x Sum Assured, this plan is also available with limited underwriting wherein you will to fill a Short Medical Questionnaire (SMQ) We have a Fund Management Charge (FMC) of 1.75% per annum (of the funds value) You can change your investment fund choices through switching where you can move your accumulated funds from one fund to another anytime This is a single premium plan and subject to appropriate tax treatment under the Income Tax Act 1961. Currently Section 80C benefit is available for the premium paid into the plan subject to the limits in that section. Benefits received under Section 10(10D) will be exempt from tax subject to the limited contained therein

HDFC UNIT LINKED WEALTH MULTIPLIER

Ideally, just how spending comes to you, so must saving and investing. You are able to finance your expenses and take care of your family's needs in present times. However, to ensure that family maintains the same standard of living in the future, you need to make the right kind of investment today. HDFC Unit Linked Wealth Multiplier, a unique 3-year premium payment Savings and Investment Plan is a tailor made plan well suited to meet your long-term investment needs and also help you maintain your familys financial independence. Features

ADVANTAGES

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This plan offers an excellent investment opportunity through choice of exclusive funds This plan has limited premium payment term of 3 years This plan also provides the facility of a single premium top - upWe have a Fund Management Charge (FMC) of 1.75% per annum (of the fund's value) 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 You have a choice of paying your premium either half yearly or yearly Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

HDFC UNIT LINKED ENDOWMENT WINNER

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 for the long term. With our HDFC Unit Linked Endowment Winner, you can start building your savings today and ensure that your family remains financially independent, even when you are not around. It is a convenient plan, which saves you from the need of going for Medicals. This Unit Linked Plan gives you with an outstanding investment opportunity to maximise your savings by providing you a choice of thoroughly researched and selected investments. This plan also gives Bumper Addition to the fund value at Maturity.

FEATURE

ADVANTAGES
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No need to go for medicals. Just filling a Short Medical Questionnaire will do Maturity. Your fund value will be augmented by addition of Bumper Addition, which is a percentage of your original annualised premium (Bumper addition will be 70% for annual premium payment and 80% for monthly premium payment) In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the funds value) You can choose to pay your premium as either Monthly (through Standing Instructions or ECS Mandate) or Annually. You also have a range of convenient auto premium payment options 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 ENDOWMENT ASSURANCE PLAN

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 for the long term. With our HDFC Endowment Assurance Plan, you can start building your savings today and ensure that your family remains financially independent, even when you are not around. This With Profits plan is designed to secure your familys future by giving your family a guaranteed lump sum on maturity or in case of your unfortunate demise, early into the policy term.

FEATURES

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ADVANTAGES

Ideal way to secure your long-term financial goals and your familys financial independence by giving a lump sum payment (basic Sum Assured plus any Bonus Additions) on survival up to Maturity date Provides invaluable protection to your family by way of lump sum payment in case of unfortunate demise within policy term Gives you the flexibility to customise your policy according to your needs by adding any one of the 4 benefit options available You can choose to pay your premium as either Annually, Half-Yearly or Quarterly depending on your convenience. You also have a range of convenient auto premium payment options Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961

HDFC MONEY BACK PLAN

You have always believed in living life on your own terms. So why let the changing realities of everyday life overwhelm you and make your aspirations take a back seat? With our HDFC Money Back Plan, you can plan now to ensure that you have the necessary funds to have the necessary funds to secure your long-term as well as shortterm financial goals. This With Profits plan gives you a proportion of the basis Sum Assured as Cash lump sums at regular 5-year intervals within the policy term.

FEATURES

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ADVANTAGES

This plan gives you a proportion of the basic Sum Assured as Cash lump sums at regular 5-year intervals within the policy term and a lump sum payment on survival up to maturity date. An ideal way to secure your long-term as well as short-term financial goals

Provides invaluable protection to your family by way of lump sum payment in case of unfortunate demise within policy term, over and above any earlier payouts Gives you the flexibility to customise your policy according to your needs by adding any one of the 4 benefit options available We can choose to pay your premium as either Annually, Half-Yearly or Quarterly depending on your convenience. You also have a range of convenient auto premium payment options Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961

HDFC SINGLE PREMIUM WHOLE OF LIFE INSURANCE PLAN

Ideally, just how spending comes to you, so must saving and investing. You are able to finance your expenses and take care of your familys needs in present times. However, to ensure that family is able to maintain the same standard of living in the future, you need to make the right kind of investment today. HDFC Single Premium Whole of Life Plan is a tailor made plan well suited to meet your long-term investment needs and help you maintain your familys financial independence. This single premium investment plan is a Whole of Life plan aimed at providing long-term real growth of your money.

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FEATURES

ADVANTAGES
This participating plan is a Whole of Life plan aimed at providing long-term real growth for your money

By nature, this is a whole life policy where the term extends for the life However, you can decide on the policy term by using a feature built into it. For a period of 4 weeks, after any one of the 10th, 15th, 20th and subsequent five-year anniversaries, you can choose to receive the Sum Assured plus any attaching bonuses, in full. Once money has been received, your policy will cease or you may also continue the policy for your whole life You can terminate the policy any time, after it has been in force for at least 6 month and receive a surrender value. We will pay discretionary surrender value based on our experience. However, after completion of 3 years there will be a guaranteed surrender value of 50% of premium paid. In addition to the guaranteed surrender value, we may pay additional discretionary surrender value based on our experience. Contract ends on the payment of the same Currently Section 80C benefit is available for the premium paid under the plan to the extent of 20% of the Sum Assured. In the event of a death claim the money paid is exempt as per Section 10(10D), of the Income Tax Act 1961

HDFC ASSURANCE PLAN

To fulfill your dreams for your family and yourself, you need to start saving today. And you not only need to save enough but also need the assurance that your familys future is secure. Get the convenience of HDFC Assurance Plan. HDFC Assurance Plan helps you conveniently build your long-term savings while keeping your familys future protected. This With Profits savings plan helps you build your longterm savings while securing your familys future.

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FEATURES

ADVANTAGES
This plan is a With Profits savings plan, which offers the following features o The plan receives simple Reversionary Bonuses, which are usually added annually o At maturity, the plan pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim or Terminal Bonus may also be payable, if declared The plan can be surrendered for cash value before maturity Provides financial support to your family by way of a lump sum payment in case of your unfortunate death within the policy term. The lump sum is the basic Sum Assured plus any bonus additions Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to provisions contained therein

HDFC SAVINGS ASSURANCE PLAN

Despite your best efforts, you do not end up saving regularly for your familys and your future. Unexpected expenses, unplanned purchases and often, sheer lack of time defeat your efforts. Dont you wish that someone would take on the responsibility of regularly saving your money for you? HDFC Savings Assurance Plan is a With Profits savings plan which helps you conveniently build your long-term savings and ensure that your family is protected even if you are not around.

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FEATURES

ADVANTAGES
The chosen amount is automatically invested from your bank account into the plan This plan is a With Profits savings policy, which offers the following features o The policy receives simple reversionary bonuses, which are usually added annually o At maturity, the policy pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim or Terminal Bonus may also be payable, if declared On death during the first year, a sum equal to 80% of premiums received is payable. On death after the first year and during the policy term, all premiums paid to date will be returned with compound interest calculated at 6% per annum, subject to a maximum of the Sum Assured plus Reversionary Bonuses declared till date Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to provisions contained therein

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HEALTH PLANS
HDFC Critical Care Plan HDFC SurgiCare Plan

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 dont have to dig into those precious savings of yours.

FEATURES

ADVANTAGES
Provides valuable protection on survival post diagnosis of a critical illnesses Covers as many as 30 critical illnesses Lump sum benefit payment paid irrespective of medical expenses The policy continues even after the benefit payment paid on selected illness Choice of the level of health cover and premium payment Convenient and hassle free claims Tax benefits are available under section 80D under Income Tax Act, 1961

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HDFC SURGICARE PLAN

In the fast paced lives that we lead, medical contingencies may arrive at our doorstep uninvited.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 SurgiCare 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.

FEATURES

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. To know more click here. Tax benefits can be availed under section 80D of the Income Tax Act, 1961

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RURAL PRODUCTS
HDFC Gramin Bima Mitra Yojana HDFC Bima Bachat Yojana

HDFC GRAMIN BIMA MITRA YOJANA

Timely preparedness for uncertainties of the future can go a long way towards living a life of confidence. HDFC Gramin Bima Mitra Yojana provides this preparedness through robust returns even on an investment as small as Rs. 500 by adding 50% to your original investment in 3 years. In addition to the guaranteed returns, the plan offers the security of a life insurance cover and the flexibility to exit prematurely. HDFC Gramin Bima Mitra Yojana is a special offering from HDFC Standard Life, exclusively for the benefit of our rural customers. Product Features On survival of the life assured to maturity of the plan which is 3 years after the inception date, a guaranteed maturity benefit of Rs. 750 is payable. On termination of the plan before maturity, the guaranteed benefits payable are (in Rs.): During Year On Death On Surrender 1 5000 500 2 5000 575 3 5000 650

ELIGIBILITY
To be eligible for this plan, age at entry of the life assured must be between 18 and 50 years of age. This policy can be taken only on a single-life basis.

PREMIUM
A single premium of Rs. 500 is due on the date of commencement. There are no further premium/s due

HDFC BIMA BACHAT YOJANA PRODUCT FEATURES

A single premium of Rs. 500 is due on the date of commencement. There are no further premium/s due. This policy does not participate in profits

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On survival of the life assured to maturity of the plan which is 5 years after the inception date, a maturity benefit of Rs. 1000 is payable. On termination of the plan before maturity, benefits payable are (in Rs.):

1 On Death On Surrender 5000 500

2 5000 550

3 5000 625

4 5000 700

5 5000 850

ELIGIBILITY
To be eligible for this plan, age at entry of the life assured must be between 18 and 50 years of age. This policy can be taken only on a single-life basis.

HDFC BIMA BACHAT YOJANA (Form No P501-10 UIN: 101N009V02) DEVELOPMENT INSURANCE PLAN
Development Insurance plan is an insurance plan which provides life cover to members of a Development Agency for a term of one year. On the death of any member of the group insured during the year of cover, a lump sum is paid to that members beneficiaries to help meet some of the immediate financial needs following their loss.

ELIGIBILITY
Members of the development agency and their spouses with: o Minimum age at the start of the policy 18 years last birthday. o Maximum age at the start of policy 50 years last birthday.

Employees of the Development Agency are not eligible to join the group. The group to be covered is only eligible if it contains more than 500 members.

PREMIUM PAYMENTS
The premium to be paid will be quoted per member in the group and will be the same for all members of the group.

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The premium can only be paid by the Development Agency as a single lump sum that includes all premiums for the group to be covered. Cover will not start until the premium and all the member information in our specified format has been received. The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per member.

BENEFITS
On the death of each member covered by the policy during the year of cover a lump sum equal to the sum assured will be paid to their beneficiaries or legal heirs. Where the death is as a result of an accident, an additional lump sum will be paid equal to half the sum assured. There are no benefits paid at the end of the year of cover and there is no surrender value available at any time.

GROUP PLANS
Introduction Group Plans
o o

Group Term Insurance Plan Group Variable Term Insurance Plan Group Unit Linked Plan - Gratuity Group Unit Linked Plan - Superannuation Group Unit Linked Plan - Leave Encashment

o o o

INTRODUCTION ONE- STOP SHOP FOR EMPLOYEE- BENEFIT SOLUTIONS

HDFC Standard Life has the most comprehensive list of products for progressive employers who wish to provide the best and most innovative employee benefit solutions to their employees. We offer different products for different needs of employers ranging from term insurance plans for pure protection to voluntary plans such as superannuation and leave encashment. When you choose HDFC Standard Life, you choose growth for your investments and security for your employees We assure you of Choice of different funds Transparent fund management Market linked returns Low fund management charges Easy administration Speedy claim settlements( as per agreed service standards)
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Our group products we offer to our esteemed corporate clients Group Term Insurance Group Variable Term Insurance Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage corpuses with Gratuity, Defined Benefit or Defined Contribution Superannuation or Leave Encashment schemes of your company Also suitable for other employee benefit schemes such as salary saving schemes and wealth management schemes

GROUP TERM INSURANCE PLAN

Whatever the business Its the people who make it a success. Everybody requires some type of life insurance, especially when others depend on them financially The Group Term Insurance (GTI) plan meets this need and serves as an ideal way for companies to reinforce their bond with their employees. The sort of needs, you, as an employer need to cater to could be in form of:

Employee benefits Cover for housing or vehicle loans given by you to your employees A GTI cover for future service gratuity liability to be taken along with the

HDFC GROUP UNIT LINKED PLAN

The HDFC Group Term Insurance is a cost-effective plan that addresses these needs. In addition you have the choice to opt for a GTI with an experience discount feature ("Profit Share"), where a discount is given on future premiums in case of favorable claim experience (subject to group size). The HDFC group term insurance plan will have the following structure: One year renewable term insurance plan One master policy issued covering all members of the group Sum assured is payable on death (either due to natural causes or accidents) The plan covers death due to any cause; accidental or natural, and hence is more comprehensive than Group Personal Accident Insurance. Several multinational corporations, large Indian companies, foreign banks and software companies have already chosen the HDFC Group Term Insurance, an innovative product from HDFC Standard Life Insurance, to protect their employees.

OPTIONAL RIDER BENEFITS

Accidental Death Benefit Total Permanent Disability Total Permanent and Partial Disability Benefit Critical Illness Benefit Terminal Illness Benefit

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GROUP VARIABLE TERM INSURANCE

The Group Variable Term Insurance is a tailor made insurance policy for third party institutions. HDFC Standard Life Insurance Company will offer life insurance to customers of one or more of the third partys specific products in order that in the event of their death, there will be a lump sum available. The Group Variable Term Insurance: On death, will pay a lump sum known as a sum assured. The sum assured varies over time in order that the customer receives the cover that they need Is a group policy Has no lengthy underwriting procedure Is simple to administer The policy is without any participation in the insurers profits.

GROUP UNIT LINKED PLAN GRATUITY SCHEMES

Most employers have a statutory obligation to pay a gratuity to its employees on termination of employment. This gratuity is in the form of a one-off payment made on termination of employment. It depends on salary and number of years of service, so will therefore increase with time. The HDFC Group Unit Linked plan is a new and innovative unit-linked plan, which offer employers and gratuity scheme trustees a flexible and cost effective way to fund this gratuity liability. The plan helps a corporate by:

Building a fund systematically, which will be used to meet your future gratuity liability Providing the opportunity to maximize investment returns and thus provide the benefit in a cost-effective manner One factor that helps you to maximize the investment returns is low charges. Our charges are the lowest in the industry and therefore can improve your long-term returns

GROUP UNIT LINKED PLAN

Superannuation Schemes Many organizations realise that the statutory requirement benefits are not sufficient for their trusted employees to continue enjoying their quality of life after they retire. The HDFC Group Unit Linked Plan is a great way for an employer to show his employees that he not only takes care of them while in service, but has also ensured that they can lead a comfortable life after retirement.
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The HDFC Group Unit Linked plan is also a great employee retention and motivation tool that helps employers to fund their employees post-retirement needs in a systematic, tax-efficient and cost-effective manner. Moreover, as a unit-linked plan, it gives you tremendous flexibility and freedom to customise individual retirement funds for your employees based on their appetite for risk and the stage of life they are in. This plan helps an organization by:

Providing an investment vehicle to trustees for making the contribution for each member Helping build a substantial retirement fund for each member Presenting a potential to provide higher benefits to employees Offering tax benefits for investments made through the formation of a trust

GROUP UNIT LINKED PLAN Leave Encashment Schemes

Many employers provide their employees with the option of encashing their leave to their credit at the time of retirement or resignation. Accounting Standard 15 requires that an actuarial valuation of a company leave encashment liability be carried out and reflected in the books of accounts. The HDFC Group Unit Linked Plan is an innovative plan, which offers employers a flexible and cost effective way to fund this Leave Encashment liability. The plan helps an organization by:

Creating a fund that can be built up to meet your future leave encashment liability Providing the opportunity to maximise investment returns and thus provide the benefit in a cost-effective manner

One factor that helps maximise investment returns is low charges. Our fund management charges are the lowest in the industry today and therefore can improve your long-term

CLASSIFICATION OF INSURANCE
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Insurance is basically classified into two categories. (1) Life Insurance (2) General Insurance LIFE INSURANCE
This is provided for the payment of sum money on the death of the insured person due to natural causes or on the expiry of a certain number of years if the insured person is then alive. Death and life neither of them can be compensated. Life insurance aims to compensate the Income Earning Capacity of the person. Events covered in Life Insurance: In Life Insurance, income earning capacity of the person is covered. The loss of the income earning capacity can be on the happening of the following events when the life is assured. 1. Death. 2. Sickness (critical illness). 3. Accident (Death or permanent disability due to accident). 4. Retirement.

OBJECTIVES AND ADVANTAGES OF LIFE INSURANCE Protection against Risk of Untimely Death:
Life insurance is a product, with offers protection against the risk of Death the full sum assured is made available under a life assurance policy, whereas under other savings schemes, the total accumulated savings alone will be available.

Protection during old age:

Life insurance can also be used as a means of saving ones future. There are a number of life insurance policies which in addition to life cover also provide the means of investing ones income. The sum as per the policy will be received only after a period of time. This amount thus provides for the old age.

Forced savings:
Payment of life insurance premiums is compulsory and becomes a habit. Saving in other scheme can be easily withdrawn and may be used for less worthy purpose. Terminatio1n of a life insurance policy by the policyholder usually results in substantial loss in benefits under the policy to the policyholder. One is thus encouraged to save and keep ones policy alive.

Educational Requirement and Charity:

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The object of insurance may be to serve as a security to education funds in respect of loans advanced for educational purpose or to provide donations to charitable institution like hospital and school.

Nomination and Assignment:

The life insured can name the person or person whom the policy money would be payable in the event of his death the proceeds of a life insurance policy can be protected against the claims of the creditors of the life insured by effecting a valid assignment of the policy. The beneficiaries are fully protected from creditors expect the extent of any interest in the policy retained by the insured.

Tax Benefits:
The Indian income tax act provides tax concessions to the policy holder both on payment of premium and on the maturity amount. Under sec 88 the benefits on premium paid by an individual for life insurance policy on his own life/on the life of spouse children minor or major, including married daughter Rs.

Investment Option:
The unit link products gives comprehensive insurance solution that cater to an individuals need of earning potentially high return as well as stay for life. Thus there is an option to invest money in the products that combine the best of insurance and investment. In a volatile market conditions it is possible to secure both as one can hedge the investment with saver investment vehicles that provide a diversified portfolio.

Protection to Wife and Children:

Under sec 6 of the married womans property act if a married man takes a Policy of the life insurance on his own life and expenses on the face of it to be for the benefit of his wife or of his wife and children or any of them, than it shall be deemed to be a trust for the benefit of his wife and children or any of them, according to the interest so expressed and shall not so long as any object of trust remains be subject to the controls of the husband or to his creditors or from part of his estate. An insurance policy taken by a married man in the above manner is ideal way to protect the interest of his wife and children, even after his untimely death. General Insurance: Insurance other than life fall under general insurance. It covers loss of every other physical or non-possession. The loss may be due to fire, theft, accident etc. the general insurance is further classified intoFire insurance: It covers movable and immovable properly having monetary value. It covers the loss or image to insured property by specific perils for example: damage of property in manufacturing premises due to fire may result in total or partial stoppage of production process leading to loss of profits. Such loss of profit can be covered under loss insurance policy.

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Marine Insurance:
It is of the oldest branches of the insurance. It plays a significant role in both and internal and international trade. The insurers undertake to indemnify the insured against the losses occur during transit by rail, road, sea or air.

Miscellaneous Insurance:
Insurance that takes other fire and marine is known as miscellaneous insurance. It is covered under the several classes of which motor insurance, burglary insurance, cattle and crop insurance are most important

UNIT LINKED PLANS AND CONVENTIONAL PLANS

COMPARISON BETWEEN UNIT LINKED PLANS AND CONVENTIONAL PLANS
Unit LinkedConventional plans Insurance Plans Type Description Unit LinkedConventional Plans are traditional Insurance Plansinsurance plans. They usually invest in offered by insurancelow risk return options and offer companies allowguaranteed maturity proceeds along with policy holders todeclared bonuses. direct part of their premiums into different types of funds (equity, debt, money market, hybrid etc.) Here the risk of investment is borne by the policyholder.

Key Features Flexibility investment: of Unit Linked Plans giveThese plans do not allow you to choose you flexibility to investinvestment avenues. Your funds are as per your risk profile,invested as per the strategy and financial commitmentsdiscretion of the company. and convenience. You can choose to invest either in equity, or in

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debt or in hybrid fund and even change your investment strategy. Transparency: Most Unit Linked PlansYour premiums are invested in a allow you to track yourcommon 'with profits' fund and therefore portfolio. They alsoyou cannot track your individual regularly intimateportfolio. regarding the percentage of the premium that is invested along with the charges levied. You are also kept informed about the value and number of fund units that you hold.

Maturity payout:

benefits At the time of maturityAt the time of maturity you get the sum you redeem the unitsassured plus bonuses, if applicable in the collected at the thenplan. prevailing unit prices. Some plans also offer you loyalty or additional units annually or at the time of maturity.

Partial withdrawal: Unit Linked Plans allowConventional plans do not allow you to you to make withdrawalswithdraw part of your fund. Instead, from your fund, providedsome policies offer you the facility to the fund does not falltake a loan against your investment. below the minimum fund value and subject to other conditions. Switching options: Available. You canNot available since the the investment change your investmentdecision is taken by the insurance fund decision bycompany. switching between the funds as being offered by the policy. Unit Linked PlansThese plans do not specify the charges specify the charges.involved. Under various heads.

Charges structure:

Single Top-up

premium Available. The singleThe top-up facility is not available. premium top-up facility allows you to invest an extra amount over and above your regular premiums in your unit

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linked plan. Benefit Snapshot

Unit Linked Plans give you flexibility of investment They allow you to track your portfolio. Unit Linked Plans offer the benefit of a single premium top up which allows you to invest ad hoc additional amounts Unit Linked Plans allow partial withdrawals, subject to conditions and switching between funds by paying some charges, if necessary. Unit Linked Plans give you the option of a premium vacation.

Conventional plans offer fixed premiums linked to the sum assured. The maturity benefits for these plans include the sum assured plus bonuses, if applicable

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105

IRDA (INSURANCE REGULATORY AND DEV ELOPMENT AUTHORITY)

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Proceedings of the Chairman , Insurance Regulatory and Development Authority of India (IRDA)
The Securities and Exchange Board of India (SEBI) vide its Order No.WTM/PS/IMD/06/APR/2010 dated 9th April, 2010 issued by the Whole Time Member has issued a direction to 14 insurance companies, (listed in the annexure to these proceedings) "not to issue any offer document, advertisement, brochure soliciting money from investors or raise money from investors by way of new and/or additional subscription for any product (including ULIPs) having an investment component in the nature of mutual funds, till they obtain the requisite certificate of registration from SEBI. This order is without prejudice to any action that might be taken by SEBI in respect of offer documents or advertisements issued by these entities for products (including ULIPs) having an investment component in the nature of mutual funds launched so far." The IRDA observes that in the year 2008-09, 7.03 crore ULIP polices involving a total premium of Rs.90645 crores were in force. Further, as on February, 2010, during the period 1-4-2009 to 28-2-2010, 16.7 lakhs policies have been sold with a premium of Rs.44611 crores. It is also observed that the 14 insurance companies have an equity capital of Rs.16281 crones as on 31st March, 2009. The observance of the above referred SEBI order would cause the stoppage of all renewals of insurance policies already invested by the insuring public, may result in the forced premature surrender of insurance policies causing substantial loss to the policyholder and to the insurers. The effective stoppage of the sale of the said products will cause a complete drying up of the revenue flows to the insurance companies which could disrupt the payment of benefits on maturity, on death and on other admissible claims, putting the policyholder and the general public to irreparable financial loss. The financial position of the insurers will be seriously jeopardized thus destabilizing the market and upsetting financial stability. The IRDA Act, 1999 is specifically enacted to provide for an Authority to protect the interests of holders of insurance policies , to regulate , promote and ensure the orderly growth of the insurance industry and for matters connected therewith or incidental thereto. The mentioned direction of the SEBI to insurance companies not to raise money by way of new or additional subscription apart from other restrictions will seriously jeopardize and adversely the interests of the policyholders and the interests of the insurers. The IRDA, in the light of the above , is satisfied that the order of the SEBI mentioned above will bring the insurance industry to a standstill which would not be in public interest and would be detrimental to the interests of the policyholders and prejudicial to the interests of the insurers. Therefore, in exercise of the powers vested in the Authority under Section 34(1) (a) and (b) of the Insurance Act, 1938 , and after due consultation with the members of the Consultative Committee , all the 14 insurance companies which are mentioned in the order of SEBI are directed to note that notwithstanding the said Order of the SEBI, they shall continue to carry out insurance business as usual including offering , marketing and servicing ULIPs in accordance with the Insurance Act, 1938, Rules, Regulations and Guidelines issued there under by the IRDA.
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ANNEXURE
a. Aegon Religare Life Insurance Company Limited b. Aviva Life Insurance Company India Limited c. Bajaj Allianz Life Insurance Company Limited d. Bharti AXA Life Insurance Company Limited e. Birla Sun Life Insurance Company Limited f. HDFC Standard Life Insurance Company Limited g. ICICI Prudential Life Insurance Company Limited h. ING Vyasa Life Insurance Company Limited i. Kotak Mahindra Old Mutual Life Insurance Limited j. Max New York Life Insurance Co. Limited k. Metlife India Insurance Company Limited 1. Reliance Life Insurance Company Limited M. SBI Life Insurance Company Limited n. TATA AIG Life Insurance Company Limited The Government of India has enacted the Right to Information Act, 2005 which has come into effect from October 13, 2005. The Right to Information under this Act is meant to give to the citizens of India access to information under control of public authorities to promote transparency and accountability in these organizations. The Act, under Sections 8 and 9, provides for certain categories of information to be exempt from disclosure. The Insurance Regulatory and Development Authority (IRDA) is a public authority as defined in the Right to Information Act, 2005. As such, the Insurance Regulatory and Development Authority is obliged to provide information to members of public in accordance with the provisions of the said Act. Access to the Information held by IRDA The right to information includes access to the information which is held by or under the control of any public authority and includes the right to inspect the work, document, records, taking notes, extracts or certified copies of documents / records and certified samples of the materials and obtaining information which is also stored in electronic form.

IRDAWebsite
The IRDA maintains an active website. The site is updated regularly and all the information released by the IRDA is also simultaneously made available on the website. The information published in public domain include the following: 1.Acts/Regulations 2. Information relating to Insurers/Reinsures, Agents Training Institutes, Appointed Actuaries. 3. Information relating to Surveyors, Third Party Administrators, Insurance Brokers, Corporate Agents 4. Information relating to Insurance Councils, Insurance Ombudsmen
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5.Annual Report/IRDA 6.Press Releases.

Journal

Complaints against Insurance Companies

IRDA has provided for a separate channel for lodging complaints against deficiency of services rendered by Insurance Companies. If you have a complaint/grievance against an insurance company for poor quality of service rendered by any of its offices/branches, please approach the Nodal Officer of the Insurance Company concerned. In case you are not satisfied with the Insurance Companys response you may also file a complaint with the Insurance Ombudsman in your State. The Insurance Ombudsman is an independent office to provide speedy and cost effective resolution of grievances to the customers. For more details on Insurance Ombudsman Scheme and their contact numbers, please visit.

Complaints from Policyholders

Policyholders who have complaints against insurers are required to first approach the Grievance/Customer Complaints Cell of the concerned insurer. If they do not receive a response from insurer(s) within a reasonable period of time or are dissatisfied with the response of the company, they may approach the Grievance Cell of the IRDA.

Functions Of IRDA
As it is the regulatory body of insurance so it has to done certain work for the shake of insurance holder. The functions which are done by it are thus:1 Procedure for registration.---(1) An applicant desiring to carry on insurance business in India shall make a requisition for registration application in Form . (2) An applicant, whose requisition for registration application has been accepted by the Authority, shall make an application in Form for grant of a certificate of registration. 2 Classes of insurance business for which requisition for registration application may be made.(1) An applicant shall make a separate requisition for registration application under regulation 3 for each class of business of insurance. The classes of business of insurance for which requisition for registration application may be made are: a. Life insurance business consisting of linked business, non-linked business or both; or, b. General insurance business including health insurance business (or health cover). 3. Requisition for Registration Application.An applicant shall be eligible to apply for requisition if such applicant upon registration will be an Indian insurance company.

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4. Furnishing of further information and clarification, etc. --- The Authority may require the applicant, which makes a requisition, to furnish further information or clarification regarding the matters relevant to consider the requisition for registration application. 6.Consideration of requisition for registration application.--- The Authority on being satisfied that--(1) The requisition in Form is complete in all respects and is accompanied by all documents required therein; all information given in the Form should correct; The applicant will carry on all functions in respect of the insurance business including management of investments within its own organization; 7 Rejection of requisition for registration applicationThe application can be rejected on the basis of the half filled application or not eligibility of the applicant. 8 Action upon rejection of application for requisition.An applicant, requisition for registration application has been rejected, may approach the Authority with a fresh request for registration application after a period of two years from the date of rejection, with a new set of promoters and or for a class of insurance business other than the originally proposed one. 9 Manner of calculation of twenty six per cent. equity capital held by a foreign company. For the purposes of the Act and these Regulations, the calculation of the holding of equity shares by a foreign company either by itself or through its subsidiary companies or its nominees (hereafter referred to as foreign investor) in the applicant company, shall be made as under and shall be aggregate of:(a) The quantum of paid up equity share capital held by the foreign company either by itself or through its subsidiary companies or nominees in the applicant company; (b) the quantum of paid up equity share capital held by other foreign investors, non-resident Indians, overseas corporate bodies and multinational agencies in the applicant company; and 10 Consideration of Application.- The Authority shall take into account for considering the grant of certificate, all matters relating to carrying on the business of insurance by the applicant. 11 Effect of rejection of application for registration.An applicant, whose application for registration has been rejected shall not be entitled to a certificate: An applicant may approach the Authority with a fresh request for registration after a period of two years from the date of rejection, with a new set of promoters and or for a class of insurance business other than the originally proposed one.

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12 Manner of payment of fee for registration.- The fee of rupees fifty thousand for each class of business for registration shall be remitted by a bank draft issued by any scheduled bank in favour of the Insurance Regulatory and Development Authority payable at New Delhi. 13 Grant of certificate of registration. The Authority, after making such inquiry as it deems fit and on being satisfied that (a) The applicant is eligible, and in its opinion, is likely to meet effectively its obligations imposed under the Act; (b) The financial condition and the general character of management of the applicant are sound; 14 An applicant granted a certificate of registration under the Regulations shall commence insurance business for which he has been authorized within 12 months of the date of registration. Provided, however, that if the company feels that it will not be able to commence the insurance business within the specified period of 12 months, it can before the time limit expires, seek an extension, by a proper written application, to the Authority. 15 The Authority on receipt of the request referred to in Regulation 17 will examine it and communicate its decision in writing either rejecting the request or granting it. 16. No extension of time shall be granted by the Authority beyond 24 months from the date of grant of registration 17 Manner of renewal of certificate. (1) An insurer, who has been granted a certificate under section 3 of the Act, shall make an application in Form IRDA/R5 for the renewal of the certificate to the Authority before the 31st day of December each year, and such an application shall be accompanied by evidence of the payment of the fee which shall be the higher of,--a. fifty thousand rupees for each class of insurance business, and b one-fifth of one per cent. of total gross premium written direct by an insurer in India during the financial year preceding the year in which the application for renewal of certificate is required to be made, or rupees five crores, whichever is less; (and in the case of an insurer carrying on solely re-insurance business, instead of the total gross premium written direct in India, the total premium in respect of facultative reinsurance accepted by him in India shall be taken into account)

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Manner of payment of fee for renewal of certificate.- The fee for

renewal of certificate shall be paid to the account of Insurance Regulatory and Development Authority with the Reserve Bank of India.

19

Issue of duplicate certificate.--The Authority may, on receipt of fee of rupees five thousand, issue a duplicate certificate to an insurer, if the insurer makes an application to the Authority.
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20

Suspension of certificate. Without prejudice to any penalty which

may be imposed or any action taken under the provisions of the Act, the registration of an Indian insurance company or insurer who conducts its business in a manner prejudicial to the interests of the policyholders

21 Manner of making order of suspension or cancellation of certificate.No order of suspension or cancellation shall be imposed except after
holding an enquiry in accordance with the procedure specified in these regulations.

22 Manner of holding enquiry before suspension or cancellation. For the purpose of holding an enquiry under regulation 24, the Authority may
appoint an enquiry officer.

23

Show-cause notice and order.---On receipt of the report from the

enquiry officer, the Authority shall consider the same and if considered necessary by it, issue a show-cause notice as to why a penalty as it considers appropriate should not be imposed.

24

Effect of suspension or cancellation of certificate.--- On and from

the date of suspension or cancellation of the certificate, the insurer shall cease to transact new insurance business:

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Publication of order.--- The order of the Authority shall be published in at least two daily newspapers in the area where the insurer has his principal place of business. 26 Registration of existing insurers.(1) Every insurer carrying on
insurance business in India before the commencement of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) and requiring registration under the Act, shall make an application, in Form IRDA/R2 for grant of certificate of registration, within three months from the commencement of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).

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Transitory Provisions.--- Every existing insurer shall be required to

comply with all the Regulations made by the Authority from the date of their notice Provided that the Regulations made by the Authority on the following subjects viz:Accounts; Assets, liabilities and solvency margin; Reinsurance; The insurance Regulatory and Development Authority, IRDA for short, has laid down that those who wish to become insurance agents will be given licenses only after they

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complete a course of study and pass an examination prescribed was to last 100 hours. The course, IC 33, was prepared keeping in mind that requirement. In 2007, the period of compulsory study has been reduced to 50 hours.

Press Release regarding IRDA (18/8/07)

In the last two- three years the unit linked product have become very popular among customers and the share of this product in the total portfolio of the life insurance companies has increased significantly. The IRDA is keen to ensure that all unit linked products are transparent and that customer form every walk of life can compare features and charges across products and cross companies. The tulip guidelines issued over the last year are the steps initiated by the authority towards achieving this. As a continuation of the process we have decided that actuarial funded products be phased out so that products across companies could be compared and understood easily by the customers. Technically there is nothing wrong with the actuarial funded products and they are not determined to the interests of the policyholder. Further they have been approved by the IRDA. Companies having actuarial funded products have been asked to with draw them over a period of time. They can continue to sell the products till then and customers and both existing and new, can continue to enjoy the benefits of these products and have no reason to fell concerned. To reiterate, our objective is to remove complexity in all unit linked products and ensure comparison across Tulips of all companies. The existing or new customer who have purchased these products need not worry under any circumstances as policy holder interests will Protected by the insurance and the authority.

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INSURANCE PLANS: A COMPARATIVE STUDY

January 19, 2006 13:47 IST
Term plans are the purest form of life insurance. They provide a high sum assured at a relatively low cost (i.e. premium). But somehow, individuals have continued to ignore term plans at the risk of being under insured.
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The table given below provides information on term plans across various parameters, which will help individuals in arriving at an informed decision.

Comparative Premium Chart (Sum Assured: Rs 1,000,000)

Life Insurer Age Tenure (Yrs) (Yrs) 5 10 HDFC STANDARD 25 2,570 2,620 LIFE 30 2,770 2,820 (TERM ASSURANCE) 35 3,000 3,050 40 3,710 3,840 45 5,000 5,520 50 7,430 8,320 55 10,960 12,600 60 16,540 NA ICICI PRUDENTIAL 25 2,933 2,933 (LIFEGUARD) 30 3,032 3,032 35 3,172 3,172 40 4,317 4,317 45 5,267 5,807 50 7,739 8,776 55 11,423 13,258 60 NA NA LIC 25 2,356 2,356 (ANMOL JEEVAN I) 30 2,564 2,564 35 3,128 3,277 40 4,287 4,703 45 6,247 7,247 50 9,860 11,335 55 15,068 17,384 60 NA NA SBI LIFE 25 1,954 1,954 (SHIELD) 30 2,043 2,043 35 2,454 2,552 40 3,189 3,542 45 4,561 5,541 50 7,344 8,814 55 11,215 13,538 60 17,037 NA KOTAK MAHINDRA 25 NA 2,424 OLD MUTUAL 30 NA 2,645 15 2,670 2,870 3,160 4,380 6,460 9,830 NA NA 2,933 3,032 3,248 4,738 6,875 10,439 NA NA 2,356 2,812 3,841 5,752 8,860 13,741 NA NA 1,954 2,150 2,895 4,346 6,796 10,657 NA NA 2,424 2,645 20 2,720 2,920 3,580 5,110 7,620 NA NA NA 2,933 3,032 3,798 5,525 8,258 NA NA NA 2,544 3,227 4,613 6,940 10,623 NA NA NA 1,954 2,454 3,542 5,384 8,354 NA NA NA 2,424 2,755 25 2,770 3,050 4,120 5,970 NA NA NA NA 2,933 3,334 4,067 6,681 NA NA NA NA 2,861 3,821 5,534 8,306 NA NA NA NA 2,180 2,964 4,375 6,649 NA NA NA NA 2,535 3,086 30 2,820 3,430 4,750 NA NA NA NA NA 3,064 3,905 4,564 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA 2,755 3,416 35 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA 40 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA

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35 40 45 (PREFERRED TERM 50 PLAN) 55 60 MAX NEW YORK 25 LIFE 30 35 40 45 50 55 60 AVIVA LIFE 25 INSURANCE 30 (LIFESHIELD) 35 40 45 50 55 60 TATA-AIG LIFE 25 (ASSURE LIFELINE) 30 35 40 45 50 55 60 METLIFE 25 (SURAKSHA- TERM 30 ASSURANCE) 35 40 45 50 55 60 BIRLA SUN LIFE 25 (TERM PLAN) 30 35

NA NA NA NA NA NA 2,100 2,160 2,570 3,480 5,040 7,940 12,140 NA 2,580 2,650 3,110 3,940 5,170 7,840 11,910 NA 3,100 3,480 4,650 6,830 9,880 15,800 24,320 NA 2,600 2,700 3,300 4,500 6,600 9,900 15,000 21,000 2,890 2,950 3,290

3,196 4,298 6,077 9,180 13,593 21,668 2,110 2,280 2,910 4,150 6,360 9,990 NA NA 2,580 2,660 3,240 4,220 6,010 9,230 14,110 NA 3,160 3,510 4,670 6,870 10,190 16,240 NA NA 2,500 2,600 3,200 4,300 6,400 9,700 14,700 NA 2,890 2,950 3,310

3,306 4,739 6,761 10,351 15,679 NA 2,120 2,430 3,270 4,840 7,450 NA NA NA 2,600 2,890 3,620 4,980 7,280 11,140 NA NA 3,340 3,970 5,520 8,400 13,380 NA NA NA 2,500 2,800 3,600 5,000 7,400 11,200 NA NA 2,890 2,950 3,510

3,747 5,400 7,797 11,988 NA NA 2,210 2,700 3,770 5,650 NA NA NA NA 2,690 3,120 4,120 5,840 8,620 NA NA NA 3,640 4,550 6,580 10,200 NA NA NA NA 2,700 3,100 4,000 5,700 8,400 NA NA NA 2,890 3,010 3,720

4,188 6,187 8,970 NA NA NA 2,410 3,050 4,330 NA NA NA NA NA 2,880 3,530 4,800 6,880 NA NA NA NA 4,080 5,280 7,820 NA NA NA NA NA 2,700 3,300 4,400 6,300 NA NA NA NA 2,890 3,160 4,030

4,739 6,960 NA NA NA NA NA 3,220 NA NA NA NA NA NA 3,190 4,060 5,620 NA NA NA NA NA NA 6,130 NA NA NA NA NA NA NA 3,600 NA NA NA NA NA NA NA NA NA

NA NA NA NA NA NA 2,670 NA NA NA NA NA NA NA 3,610 4,700 NA NA NA NA NA NA 5,040 NA NA NA NA NA NA NA 3,200 NA NA NA NA NA NA NA NA NA NA

NA NA NA NA NA NA NA NA NA NA NA NA NA NA 4,100 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA

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40 45 50 55 60 AMP SANMAR 25 (RAKSHA SHREE) 30 35 40 45 50 55 60 BAJAJ ALLIANZ 25 (RISK CARE) 30 35 40 45 50 55 60

4,080 5,380 7,710 11,080 NA 2,180 2,230 2,580 3,350 4,680 7,200 10,900 16,580 3,140 3,260 3,850 5,040 7,160

4,310 5,990 8,790 13,100 NA 2,180 2,230 2,640 3,650 5,520 8,550 13,050 NA 3,200 3,560 4,450 6,100 9,050

4,690 6,720 10,180 15,680 NA 2,180 2,290 3,020 4,420 6,750 10,400 NA NA 3,420 4,050 5,350

5,150 7,670 11,960 NA NA 2,180 2,600 3,630 5,400 8,220 NA NA NA 3,820 4,830 6,750

5,860 8,930 NA NA NA 2,350 3,070 4,380 6,540 NA NA NA NA 4,490 6,050 8,650

NA NA NA NA NA 2,700 3,640 5,260 NA NA NA NA NA 5,560 7,750 11,350

NA NA NA NA NA NA NA NA NA NA NA NA NA 7,090 10,200 NA NA NA NA NA NA

NA NA NA NA NA NA NA NA NA NA NA NA NA 9,320 NA NA NA NA NA NA NA

7,710 9,850 12,850 NA 11,460 14,810 NA NA NA NA NA NA NA NA

10,940 13,610 17,360 NA NA NA NA NA NA NA NA NA

The premiums amounts in the table above are for a healthy, non-smoking male for a sum assured of Rs 1,000,000. The information in the tables is sourced from company websites. Individuals are advised to contact the respective life insurance company for further details. Taxes as applicable may be levied on some premium quotes given above. Companies reserve the right to change their policies anytime in the future.

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GENERAL CLAIMS PROCEDURE

All insurance contracts are based on the information provided by the insured in the proposal form. The proposal form forms the basis of insurance contracts. Some important points, which would help you in the claims procedure. The loss or damage should be reported to the insurer immediately. On receipt of claim intimation, the insurer will forward a claim form. Submit the completed claim form along with an estimate of the loss to the insurer. It is preferable to submit an itemized estimate with separate values.
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The insurer will arrange for inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed. The insurer will arrange for inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed. The insured has to provide the required documents to substantiate the extent of loss. In case the cause of loss is not established, it is for the insured to prove that the loss or damage has occurred due to an insured peril. On agreement of claim amount between the insured and the insurer, the claim is settled. Average Clause - As per the Terms and Condition of the Policy. Excess as stated as per the Policy terms and condition will be deducted from the claim payable.

In view of varied nature of policies, certain points distinct to individual policies, in addition to the above, are listed below : ( Documents mentioned are indications and based on the circumstances of the claim insurer may request additional documents).

TRAVEL COMPANION
The claim procedure varies from country to country and therefore the insured should get in touch with the overseas claim settling agents of the insurers immediately. The Insured should carry the policy document with him, which may be produced as evidence if necessary. The policy document also contains the full information as to how to get in touch with the claim settling agents for assistance.

DOCUMENTS REQUIRED FOR CLAIMS PROCESSING:For Accidental Injury Claims

1. Claim form 2. Police report, if recorded 3. Medical papers, pathology reports, X-ray reports, as applicable

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4. Disability certificate from reputed surgeon or hospital for permanent disability claims 5. Sick leave certificate from employer for temporary total disability claims 6. Attending Physicians statement For Emergency Medical Expenses/ Emergency Dental Treatment 1. Claim Form 2. Police FIR, if recorded 3. Medical papers, pathology reports, X-ray reports, as applicable 4. Doctors prescription and line of treatment suggested 5. Bills and cash memos 6. Attending Physicians statement For Hospital Cash- Sickness Claim 1. Claim Form 2. Hospital Discharge Card 3. Doctors certificate and line of treatment suggested 4. Attending Physicians statement as per Form D For Hospital Cash Accident Claim 1. Claim Form 2. Hospital Discharge Card 3. Doctors certificate and line of treatment suggested 4. Attending Physicians statement. For Accidental Death Claims 1. Claim Form 2. Police Report 3. Post-mortem Report or Coroners Report 4. Death Certificate

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5. Succession certificate or notarized affidavit certifying legal heir status for payment to beneficiary 6. Letter of indemnity on Rs.200 stamp paper, where payment to beneficiary is through notarized affidavit (please contact us for the indemnity format) For Baggage Loss /Personal Effects (Including Baggage Delay) 1. Claim Form 2. Airline Tickets 3. Any available receipts for the lost baggage/personal effects 4. Correspondence with the Airline/Carrier 5. Irregularity Report or Loss Notification Report from the Airline/Carrier 6. Letter from carrier confirming reason for delay and duration of the delay for baggage delay 7. Cash receipts to obtain duplicate documents, for passport loss / document loss For Trip Cancellation / Trip Interruption 1. Claim form 2. Copy of travel itinerary 3. Verification of trip payment 4. Original airline tickets, vouchers or cruise documents 5. Copy of trip cancellation statement from airline/cruise line, hotel, itemizing nonrefundable charges 6. Copy of any refund cheque or credit voucher 7. Copy of newly purchased- for Trip Interruption only 8. Itemized expense receipts

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POLICY POLICY REDEMPTION SYSTEM

PREMATURE AFTER MATURITRY SERVICING FORMS

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For your convenience we have placed our most frequently used forms and documents online in PDF formats. We recommend that you save the form on your computer to facilitate printing. - Personal Details Change Forms Changes you can avail of are: Changes in your mailing address Change of Nominee Change of Appointee Note: Available for In-force and Paid-up Policies. - Policy Benefit Change Forms The policy changes that you can avail of are: Change in frequency of premium payment Reduction in the level cover/premium of your policy Removal of additional benefits (Riders) Reduction in term of the policy Note: Available for In-force Policies only. To make any of the above listed changes, you need to Fill up the Alteration Form and send it to your nearest branch atleast 15 days prior to next premium due date Please note these changes can be made for In-force or Paid-up Policies only Conditions apply - Fund Transactions Forms In case of unit linked policies in addition to the above you can also avail of the following: Paying additional premium (Top-up) Changing your current investment composition (Fund Switch) Changing your future premium direction (Premium Redirection) - Other Service Requests Forms

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This section gives you details that you require in case: You have misplaced or damaged your policy document and want us to issue you a duplicate or, You want to return the policy within the look-in period. Issue of a Duplicate Policy Incase you have misplaced your policy document we can issue you a duplicate policy document. You need to send us An application for Issue of duplicate policy. Click here to download the application form A copy of FIR lodged with the local police station Indemnity and affidavit for loss of policy documents. Click here to download the format of Indemnity and Affidavit Lost policy fee towards the stamp duty to be paid to the government, which is calculated at Rs. 20/- per lakh sum assured. In case you have also opted for additional term benefit (ATB) rider then an additional charge of Rs.20/- per lakh of ATB sum assured will be added
Incase of a damaged policy document, the original document with a letter

Look In O n c e y o u r e c e i v e t h

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e p o l i c y d o c u m e n t s , w e a d v i s e y o u t o g o t h r o u g h t h e d e t

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a i l s a n d u n d e r s t a n d t h e t e r m s a n d c o n d i t i o n s o f y o u r p o l

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i c y . I n c a s e y o u w a n t t o c l a r i f y a n y a s p e c t o f y o u r p o l i c

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y ; y o u c a n s p e a k t o y o u r f i n a n c i a l c o n s u l t a n t o r c o n t a c

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t u s a t a n y o f o u r b r a n c h e s I f y o u t h i n k t h a t y o u r p o l i c y d
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o e s n o t s u i t y o u r n e e d s y o u c a n r e q u e s t f o r c a n c e l l a t i o n

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w i t h i n 1 5 d a y s o f r e c e i p t o f p o l i c y d o c u m e n t . All you need to do is: Please return the policy document to your nearest branch along with a letter explaining your reasons We will refund your premium paid, after deducting the expenses incurred by us on Medical tests conducted by us before issuance of the policy
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Stamp duty paid by us to the government on your policy Risk cover provided during this period Adverse movement of unit prices, in case of unit linked plans I n c a s e , y o u w i s h t o o p t f o r a n o t h e r i n s u r a n c e

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p l a n d u r i n g t h e l o o k i n p e r i o d w h i c h i s m o r e s u i t e d t
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o y o u r n e e d s , a l l y o u n e e d t o d o i s : Please submit a fresh proposal form along with the original policy documents and a letter stating the change
We will transfer the net premium amount (after deduction of applicable charges as stated above) towards part of the premium payable for the fresh proposal. Balance amount, if any, will be refunded to you

Personal Details Change Form Name Change Address Change

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Contact Details Change Nominee Details Appointee Details Policy Benefit Change Form Reduction in Cover/ Premium Reduction in Term Deletion of Rider benefit Change of Frequency Fund Transactions Fund Switch Form Premium Redirection Form Top Up Form Increase your regular premium Other Service Requests Duplicate Policy Form Claims Service Requests Critical Illness Form SurgiCare Pre-Authorisation Form SurgiCare Claims

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COMPETITORS
LIFE INSURANCE CORPORATION OF INDIA
LIC was formed on 1-9-1956 by Government of India by nationalizing the then existing private insurance companies. At that time the objective of nationalization of the life insurance business was to canalize the funds of LIC for the benefit of the people of India. LIC invests not less than 75% of its funds in Central Government Securities, State Government Securities and the balance is invested by LIC in the private sector. The central office of LIC is located at Mumbai. There are 7 zonal offices and about 200 divisional offices in LIC spread all over the country. The zonal office in LIC controls between 3 to 7 divisional offices. In turn divisional offices monitor, guide and control the branch offices. Most of the functioning of LIC like issuing policies, collecting premiums and payments of maturity and death claims is done at branch office level, only cases which fall beyond the financial powers of branch offices are referred to divisional offices for approval.

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LIC also has another wing called "Pension and Group Insurance", whose accounts are maintained seperately and are also shown seperately in the detailed financial highlights of LIC. The group insurance business and servicing is handled separately by Pension & Group Schemes Department of LIC at Divisional Office level. LIC follows the usual practice of closing its accounts on 31st March of every year. LIC being a giant, takes about 4 to 6 months to finalise its financial performance. More over the detailed accounts of LIC have to be submitted to Parliament every year. As the accounts of the LIC are finalised some time during Aug. - Sept. the bonus rates on with profit policies are declared only in October(usually). Till 1996 LIC was following a uniform bonus rates for Endowment and Whole Life Policies. But it is observed that LIC has changed its earlier policy and from 1996 onwards it is declaring different rates of bonuses depending on the term/policy etc. Corporate Office: Yogakshema Jeevan Bima Marg, Post Box No. 19953, Mumbai 400 021. Telephone Number: 2021383/2022151 WebSite : www.licindia.com

BIRLA SUN LIFE INSURANCE COMPANY LIMITED

The company is the result of a joint venture between The Aditya Birla Group and Sun Life Financial, a leading international financial services organization. The Aditya Birla Group is the second largest business house in India, with a turnover exceeding Rs 260 billion and an asset base in excess of Rs 180 billion. The group's market capitalization is approximately Rs 150 billion. It has 7 lakh investors and employs around 72,000 people. It is a multinational conglomerate in it's own right, with 75 diversified business units in India and overseas, including operations in Canada, USA, UK, Thailand, Indonesia, Philippines, Malaysia and Egypt. Sun Life Financial has evolved from a single mutual fund life insurance company into one of the most highly rated insurance and wealth management institutions in the world. Sun Life Financial group offers a wide range of financial solutions to individuals and corporates and these are in the areas of life, health and disability; pension funds and plans; investment management; annuities and savings; trust, brokerage and banking. Sun Life Assurance Company of Canada, Sun Life's primary insurance arm, is among the largest international financial services organizations in the world, with assets under management of over US$ 201 billion.

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The two groups have had a partnership in India for a long time in the areas of asset management, retail distribution and stock broking. It was natural therefore that when the insurance sector was opened up in India, the partnership was extended to life insurance. Thus was born Birla Sun Life Insurance Company Ltd. The company has set for itself the following Business Management Philosophy:

Vision :
To be a world class provider of financial services to individuals over their lifetime

Mission
To be the first preference of their customers as a leading Integrated Insurance Provider of insurance solutions through superior value creation and technology.

Core Values
1. Operating with integrity to the very highest standards of business conduct. 2. Always working with the customer's needs in mind. 3. Relentlessly pursuing excellence through the people they employ and the work they do. 4. Providing products and services that add value for customers, channel partners and build value for the shareholders. Corporate Office: 1st Floor, Ahura Centre, 'B' Wing, Mahakali Caves Road, Andheri(East), Mumbai 400 093. Telephone Number: 022-6928300 WebSite : www.birlasunlife.com

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

ICICI Prudential Life Insurance Company Limited was incorporated on July 20, 2000. The authorized capital of the company is Rs.2300 Million and the paid up capital is Rs. 1500 Million. The Company is a joint venture of ICICI (74%) and Prudential plc UK (26%). The Company was granted Certificate of Registration for carrying out Life Insurance business, by the Insurance Regulatory and Development Authority on November 24, 2000. It commenced commercial operations on December 19, 2000, becoming one of the first few private sector players to enter the liberalized arena. Till March 31,2002 the Company has issued 100,000 polices translating into a Premium Income of around Rs. 1,200 Million and a sum assured of over Rs.15,000 Million. The Company recognizes that the driving force for gaining sustainable competitive advantage in this business is superior customer experience and investment behind the brand. The Company aims to achieve this by striving to provide world class service levels through constant innovation in products, distribution channels and technology based delivery. The Company has already taken significant steps to achieve this goal..
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ICICI Ltd was established in 1955 by the World Bank, the Government of India and the Indian Industry, to promote industrial development of India by providing project and corporate finance to Indian industry. Since inception, ICICI has grown from a development bank to a financial conglomerate and has become one of the largest public financial institutions in India. ICICI has financed all major sectors of the economy, covering 6,848 companies and 16,851 projects. In the fiscal year 2000-2001, ICICI had disbursed a total of Rs 319.65 billion.

PRUDENTIAL PLC:
Prudential plc was founded in 1848. Since then it has grown to become one of the largest providers of a wide range of savings products for the individual including life insurance, pensions, annuities, unit trusts and personal banking. It has a presence in over 15 countries, and caters to the financial needs of over 10 million customers. It manages assets of over US$ 259 billion (Rupees 11,39,600 crores approx.) as of December 31, 1999. Prudential plc. has had its presence in Asia for the past 75 years catering to over 1 million customers across 11 Asian countries. Corporate Office: ICCI Prulife Towers, 1089, Appasahab Marathe Marg, Prabhadevi, Mumbai 400 025. Telephone Number: 022-462 1600 Website : www.iciciprulife.com

ING VYSYA LIFE INSURANCE COMPANY PRIVATE LIMITED

ING Vysya Life Insurance is a joint venture between three pioneers, ING Insurance Vysya Bank and GMR Group.

ING GROUP
Over the last 150 years, ING Group has grown to become one of the largest life insurance organisations in the world. Today it touches the lives of over 50 million people across 65 countries. It offers a range of financial services including insurance, pensions, banking and asset management. In the year 2000, total assets of the group stood at over INR 28, 42,000 crores. ING Group has wide and deep experience in setting up companies in new markets, which require substantial investments underlining ING's long-term commitment. In the last 20 years, ING Group has established successful life insurance companies in 15 countries contributing to the development of insurance services in these countries.

The Vysya Bank limited.

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. It is one of India's premier private sector banks with a heritage of over 70 years. With 1.5 million customers, 480 outlets and 6000 employees it is known for its innovative banking services and for pioneering several products and services. The Vysya Bank has a long-standing relationship with its customers and deep understanding of the Indian market.

GMR Group
It has a solid track record of over two decades of growth and has wide-ranging interests in fields such as power generation, infrastructure, manufacturing, software and banking. GMR group has an excellent reputation of being able to successfully develop ventures from scratch. Corporate Office: 14, Sankey Road, Sadashivanag, Bangalore 560 006. Telephone Number: 080-3318300-312 Website : www.ingvysyalife.com

MAX NEW YORK LIFE INSURANCE COMPANY LIMITED

Max New York Life Insurance Company Limited is a joint venture that brings together two large forces - Max India Limited, a multi-business corporate, together with New York Life International, a global leader who is long experienced in that unique business called life insurance.

MAX INDIA LIMITED

Max India Limited is a multi-business corporate, focused on the Knowledge, People, and Service oriented businesses of Healthcare, Life Insurance, and Information Technology. Max also has business interests in Clinical Research, Telecom, Electronic Component distribution, Bulk Pharmaceuticals, and Speciality Products businesses. Max India is led by a skilled team of professional managers and is widely acknowledged for its presence in commercially viable manufacturing and service delivery businesses. Max has been able to form and strengthen international alliances.

ABOUT NEW YORK LIFE

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New York Life Insurance Company, a Fortune 100 company, is one of the largest providers of life insurance coverage in America. Founded in 1845, the Company has over $178 billion in assets under management and more than $25 billion in annual revenues. The mission of New York Life is to maintain its superior 'financial strength', adhere to the highest standards of 'integrity' and demonstrate 'humanity' by treating its customers, agents and employees with compassion, consideration and respect. New York Life Insurance Company has been among the highest rated companies by leading independent rating agencies including - A.M. Best Company (A++), Fitch (formerly Duff & Phelps) (AAA), Moody's Investors Service (Aa1) and Standard & Poor's (AA+) The company has its headquarters in New York City and has operations in the United States, Argentina, Hong Kong, India, Indonesia, Mexico, The Philippines, South Korea, Thailand and Taiwan. The company maintains representative offices in the People's Republic of China and Vietnam. The company caters to millions of policyholders through a network of over 30,000 employees and agents around the world. For the last 47 years, New York Life has had the highest number of agents who qualify as members of the 'Million-Dollar Round Table'. The MDRT is the world's most prestigious organisation of insurance sales professionals

CORPORATE OFFICE:
11th Floor, DLF Square, Jacaranada Marg, DLF City, Phase - II, Gaugaon 122 002. Telephone Number: 0124 - 6561717 Website : www.maxnewyorklife.com

METLIFE INDIA INSURANCE COMPANY PRIVATE LIMITED

MetLife India Insurance Company Private Limited was incorporated in India on April 11, 2001 as a joint venture between MetLife International Holdings Inc., The Jammu and Kashmir Bank, M. Pallonji and Co Private Limited and other private investors. The Metropolitan Life Insurance Company (MetLife ) is the number one insurer in the U.S. based on over US$2 trillion of life insurance in force. MetLife serves approximately 9 million individual households in the U.S. as well as 87 of the Fortune 100 companies. MetLife's institutional clients have approximately 33 million employees and members. Headquartered in New York, MetLife through its affiliates, subsidiaries and representative offices operates in 15 countries throughout the Americas, Europe and Asia. MetLife India inherits its parent company's over-130-year-old reputation of helping build financial independence for its customers. MetLife India has developed and distributes a range of life insurance products in India. MetLife India benefits from its parent company's global presence in the field of

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insurance, track record of establishing successful insurance operations in emerging markets and the unique strengths of its other Indian promoters. Drawing from these experiences, MetLife India hopes to be able to address the needs of the Indian customer. MetLife India aspires to build on MetLife's history of meeting policy holder and contract obligations and the ability to withstand the impact of adverse economic factors. The MetLife brand, known for empowering people to feel protected, guided and hopeful about their lives, will it is hoped do the same for its Indian customers. Headquartered in Bangalore, MetLife India hopes to deliver value and world-class service to customers through its financial advisors and corporate sales representatives. The mission of MetLife India Insurance is to build financial freedom for all.

Corporate Office:
Brigade Sashmahal, No.5, Vani Vilas Road, Basarangudi, Bangalore 560004. Telephone Number: 080-6678617/18 WebSite : www.metlife.com

OM KOTAK MAHINDRA LIFE INSURANCE COMPANY LIMITED

OM Kotak Mahindra Life Insurance Company Limited (OMKM) is a joint venture between Kotak Mahindra Finance Ltd., and Old Mutual plc aims to help customers take important financial decisions at every stage in life by offering them a wide range of innovative life insurance products, to make them financially independent. Jeene Ki Azaadi...

KOTAK MAHINDRA FINANCE LTD

Kotak Mahindra is one of India's leading financial institutions, offering complete financial solutions that encompass every sphere of life. From Banking, to Stock Broking, to Mutual Funds, to Life Insurance, to Investment Banking, the company caters to the financial needs of individuals and corporates. Kotak has a group net worth of around Rs.1,400 crore and currently employs over 2,000 dedicated employees in its various businesses. With a presence in about 50 locations in India and offices in New York, London, Dubai and Mauritius, the group currently services a customer base of over 5,00,000. The group has international partnerships with Goldman Sachs (one of the world's largest investment banks and brokerage firms), Ford Credit (one of the world's largest dedicated automobile financiers) and Old Mutual (a large insurance, banking and asset management conglomerate).
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OLD MUTUAL
Old Mutual, a company with over 157 years of experience in life insurance business, has the largest financial services business in South Africa, through its life assurance, asset management, banking and general insurance operations. Being listed on the London Stock Exchange and included in FTSE 100 list of companies, Old Mutuals assets under management are worth $208 billion (as on Dec 31st, 2001). In the USA, Old Mutual is one of the top ten fixed annuity businesses, following its purchase during 2001 of Fidelity & Guaranty Life Insurance Company, and its multistyle asset management business offers an array of specialist asset management skills. In the UK, Old Mutual focuses on wealth management. Gerrard, its largest UK operation, is one of the leading private client stockbroking businesses in the country. Old Mutual has made significant progress through, continued development of core business and focused acquisitions. It has established a strong foundation, to build the future business for customer and shareholder value. The company has the ability to cater to a variety of consumer market segments, and offers a comprehensive and innovative product range catering for all income groups.

CORPORATE OFFICE:
OM Kotak Mahindra Life Insurance Co. Ltd. Address: Peninsula Chambers, Peninsula Corporate Park,6th floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013. Tel: 91-22-56635000 Fax: 91-22-56635111 Website: www.omkotakmahindra.com

SBI LIFE INSURANCE COMPANY LIMITED

SBI Life Insurance Co. Ltd. is a joint venture between State Bank of India and Cardif S.A. of France. We are a registered life insurance company.SBI is a household name, and it stands as the last word for financial strength and security in the country. SBI's illustrious background dates back to the year 1806 when it started business as a presidency bank known as Bank of Bengal. Over the long journey, it has learnt to combine the best of banking practices handed down from the imperial management with the more dynamic ways of doing banking in the modern India. It has grown as a responsible giant in the banking field over the years. Today, it has a branch network of over 9000 branches, an aggregate deposit base of nearly Rs196821 crore (US$45,121mm) and a total balance sheet size of Rs.261504 crore (US59,950 mm). Together with its 7 Associate Banks, SBI commands about 30% of the market share in banking. SBI is the strongest and most profitable bank in the country. It has a tangible net worth of Rs.12146 crore (US$2,784mm) as at March 2000, and it earned a pre-tax profit of Rs.2051 crore (US$470 mm) for the fiscal ending that date.

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Cardif is a wholly owned subsidiary of BNP Paribas, which is one of the top 10 banks in the world, and the third largest in Europe. BNP is one of the oldest foreign banks with a presence in India dating back to 1860. It has 9 branches in major metros in the country. Cardiff came into being in 1973. It has grown over the years into a vibrant insurance company specialising in personal lines such as long-term savings, protection products and creditor insurance. Cardif had a premium income of over US$ 4 billion in 1999, and more than US$ 23 billion of funds under its management. Cardiff has been specialising in the art of selling insurance products through commercial banks in France and 23 other countries. France is the mother of bancassurance in the world. Over 65% of life insurance business is done through banks and financial institutions' counters in France, and the trend is rapidly catching up in other countries. It operates joint ventures in developed as well as developing countries, such as Brazil, Chile and the Czech Republic. SBI Life Insurance Company Ltd is registered as a life insurance company with the Insurance Regulator. The Company's authorized capital is Rs.250 crore, and the paidup capital at present is Rs.125 crore. SBI owns 74% of the total equity, and Cardiff the balance 26%.

CORPORATE OFFICE:
2nd Floor, APEEJAY House, 3 Dinsha Vachha Road, Churchgate, Mumbai 400 020. Telephone Number: 022 - 2351000 to 1007 Websit: www.sbilife.co.in

TATA AIG LIFE INSURANCE COMPANY LIMITED

Tata AIG General Insurance Company Ltd, and Tata AIG Life Insurance Company Ltd., (collectively "Tata AIG") are joint venture companies between the Tata group India's most trusted industrial house and American International Group, Inc. (AIG), the leading U. S. based international insurance and financial services organisation. Both promoters have a deep and abiding interest in India's insurance sector. Prior to nationalisation, the Tatas pioneered private insurance in India when Sir Dorab Tata set up New India Assurance in 1919. By 1973, when General Insurance was nationalised the Tata company had a global presence with 56 overseas offices. AIG too, has always considered the Indian insurance sector to be of significance. The AIG companies entered India in 1945 and had offices in several Indian cities prior to nationalization. AIG is the leading U.S. - based international insurance and financial services organisation and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct
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investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. Today, AIG's operations extend across 130 countries and jurisdictions throughout the world. AIG is ranked #8 in Forbes 2000 "super 100" ranking of all US corporations. AIG is ranked #8 in Fortune 500 ranking of top US corporations, and ranked #1 in the property and casualty business. AIG's Life Insurance operations comprise of the most extensive worldwide network of any life insurer. AIG's global businesses include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. The Tata Group is the most respected industrial conglomerate in India, with revenues of more than US $ 8 billion. The Group has long been a market leader in steel, commercial vehicles, electric power generation in the private sector and computer software. In recent times, it has promoted several new ventures in high growth areas of the economy such as financial services, telecommunications, information technology, auto components, oil field services and process management systems. The Group has had a long association with India's insurance sector having been the largest insurance company in India prior to the nationalisation of insurance. Corporate Office: Ahura Centre, 4th Floor, 82, Mahakali Caves Road, Andheri(East), Mumbai 400093. Telephone Number: 022 6930000

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SWOT ANALYSIS OF HDFCSL

STRENGTHS: HDFC SLs strengths are many, to mention a few: Global Presence:

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a)

Its collaborations and joint ventures with international companies such as Standard life, and partnership with chub, enable it to bring the best service available world wide to its consumers. Fast paced and flexible work culture which provides its employees autonomy to accomplish the task without much pressure from the higher authorities. Thus, employees are motivated to give their best to the organization. The core strength of Hdfc sl is the talent and innovativeness of its people which enables it to provide the right solution at the right time. The mass markets handled through a chain of financial consultants usage Closer to the individual. It has very strong distribution network.

b)

c)

d) e) f) g) h)

Its pool of competencies : mutual funds, sum assured,etc Ability to understand customer's business and offer right technology. Long standing relationship with customers. Pan India support & service infrastructure. Best-value-for-money offerings.

WEAKNESSES: a) b) c) d)
HDFC SL Could not able to match LIC in remote area services. Always emphasizes on numbers and fast results. After sales service. Less promotional campaigns.

OPPORTUNITIES: a) b) c) d) e)
Insurance industry booming at a rate of 45% every year. Increasing consumer awareness about Insurance and its use. Tremendous untapped potential of Insurance products in India. Increasing competition. Tie ups with various MNCs enable to extract their core competencies.

THREATS: a) b) c)
Local assemblers are biggest menace for the company. Entry of MNCs giving direct competition. Govt. instability has a long term repercussions affecting companys policies & its growth.

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Concluding the S.W.O.T. analysis in words that prosperity lies ahead for HDFC SL. In order to retain its position as Indias No. 1 Insurance conglomerate, it has to come out with the state of art as well as futuristic services to its consumers well before time.

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CONCLUSION
Today peoples too much aware about their security as well as future . HDFC made their different schemes according the customer need. . As soon as they feel dissatisfied company recovered their schemes .HDFC Standard Life Insurance was grown a lot through its aggressive marketing strategies and the growth rate as tremendous, through

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It is growing faster it has to work on certain things and maintain the standard. This can be done through introducing more innovative products and recruiting good quality advisors because they are the pillars of the company and it is the most valuable value added services that the company is having. Therefore, the best the company can do is giving the customer something, which is little bit different and better than its competitor. The company should also be successful in expressing the extra features, which is given to the customer. The customer should feel that whatever company is giving is something great, and no one could ever imagine about it. This feeling makes the customer feel that company is very much satisfying them.In addition, the extra feature given to satisfying is something great.

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SUGGESTIONS
HDFC STANDARD LIFE INSURANCE COMPANYs unit linked insurance plans can effectively meet the requirements of the customers, because unit linked plans are directly related to the market, so the customers can creates more wealth through fund and he can enjoy the tax benefit, and also the insurance cover. The pressure on the sales team would be lessened by increasing the awareness among the people about the credibility of the companies and need for capitalizing on the various insurance plans offered by the private life insurance companies. As the awareness of insurance is less among the people, its awareness should be creating among the people by conducting stage shows and explaining its need and importance. Insurance should not be considered only as a risk cover element but also as a long term investment. It is also recommended to concentrate to on lower income group people. More efforts should be taken by the companys financial consultants to convert the leads into policy holder of HDFCSL. Follow up should be taken and customer relation should be maintained by the inviting the existing customers to the seminars conducted when launching a new product or any changes are made to the products or rules to retain them. Coming with new promotional activities like giving new advertisements, keeping stalls, conducting seminars in companies, and giving ads through SMS can be done by HDFC Standard Life Insurance Co. to create awareness among customers.

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MY EXPERIENCE
During the two month period of this summer training I got practical as well as theoretical knowledge. I knew about work culture, organization structure ,how to behave in a organization, with the seniors as well as colloulegue .During this period I get knew the corporate environment.

BEHAVIOR TO A WORKING ENVIRONMENT

For the first Im exposed to the environment of a working place and have learnt the behavior to and working environment. In the life of a professional, I believed it is the most important lesson to be learnt. One cannot be happy in a work place if he or she not familiar to the working environment and do not how to behave in the situation.

CONVINCING PEOPLE
Convincing people is one of the most important qualities a HR executive must have. During the parichay scheme my training involved convincing the employee. In todays world, no individual works without benefits or gain for themselves. Thus the employee must be told and convinced about the benefits the parichay scheme can give them or by referring their friends or other known professional to work in with them. Thus convincing people is one of the qualities I have learnt during my summer training.

WHY POLICIES ARE MAKING

During my summer training the important of making policies and how it is launch is being taught. Today the world has become more competitive. Many companies came into existence and so there is competition among this company to gain the highest pinnacle. Every company set their target to become the best in the market. HDFC standard life also has is goal to be the best in the market and has the maximum customer and to satisfied its customer to the maximum level. Thus the companies make new policies and renovate the old ones to suit the changing environment and the competitive world. Thus making policies according to the changing environment is very important.

SHARING KNOWLEDGE
The knowledge which I have learnt and given by the superior manager has to be share to the employee so that they are aware of the new policies and they get involved with the policies and performed their part. Thus sharing the knowledge is necessary in the working place is.

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EXECUTIVE SUMMARY
The employees today are different. They are not the ones who dont have good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job, they switch over to the next job. Presently, each individual passing out of a Pioneer Management or Technical Institute is found to have in hand, at least three to four offers from the Leading MNCs in the industry. So the H.R. function has shifted from buying to selling of the vacant positions within the Organization. It certainly does not stop at selling the vacant positions to the prospective candidates. Today, it is observed that the attrition rate across various Industries is mounting sky high. Individuals jump from one Organization to another at a frequent pace, sometimes as frequent as once in 4-6 months, thanks to the demand for Technical and Managerial Personnel across industries and the attractive salary packages offered. Thus an innovation of HR is the key today. What is needed is a 360 degree approach to people management which would include not only hiring, but also which reduce cost-per-hire, time to- hire, hire better people and improve retention. This news HR strategy help in reduce cost-to-hire, time-to-hire, hire better people and improve retention, generate rich reports, improve morale and productivity. Moreover this system increases employees participation which in turn increases their commitment and trust towards the organization. Thu it also leads to improving the service and profit margin of the organization. In the era where job opportunities are many and the attrition rate is getting higher, every organization is required to adopt this new HR strategy in order to reduce cost and survive in the new environment. Thus HDFC standard life insurance adopt new schemes at some interval of time as per requirement of customer.which give them many benefits. Not only this the organization is also able to reduce in the time of hiring, increase the participation of the employee which in turn increase the commitment and morale towards the organization. The participation of the employee in the affair of the organization make the employee more committed and makes them stay with the organization for a longer period HDFC Standard Life Insurance has core computer in selling and has a very aggressive sales team. Since it is a services industry where world of mouth is very important. A negative world of mouth may remove 10 existing customers on the other hand a positive word of mouth may earn 10 customers. So service should be targeted at a level, which not only should meet the customers expectation but also exceed it. However understanding the market, consumer preference and introducing new products to suit different tastes and at the same time offering a value product would be the key steps to fight competition. Marketing is an important activity in any organizations sales strategy. Marketing helps in promoting the products in the targeted market and create recall value and

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branding to the products. Marketing department perform the initial market study for the suitability of the product launches; study the market requirements in the existing markets to further strengthen the market capitalization identity the feature needed for a longevity of a product.

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LITERATURE REVIEW
STRATEGIC MARKETING
Insurance is in a manner of speaking the last frontier in the financial sector to open. It is also a sector which will lead to benefits across the full spectrum, from the individual who will now have wider choices, to the economy which will see increased savings, to the infrastructure sector which can look forward to long term funding being available. In an under-insured economy, newer channels of distribution will have to be utilized to intensify the reach of insurance both in urban and rural markets. This will create huge employment opportunities not only within insurance companies but also as agents and consultants of insurance companies.

INDUSTARY DYNAMICS
Four key drivers will shape the industry in the years ahead

competitive activity, evolution of the distribution channels, growth of the pension sector and the necessity of moving away from guaranteed products.

The entry of new players has brought in an increased product range including insurance and pension products and therefore more choices for the customer. There has also been a significant improvement in the level of customer service by the existing player on account of the high level of service from new companies. All of this has benefited the customer. The changed regulatory and competitive environment will lead to significant changes in the retail distribution channels. Unlike other financial products, insurance is a complex product and one which plays a key role in the long term financial well being of a customer. Before the agents can advise their clients on which insurance solution is most appropriate for them, they will have to understand the financial standing of their customer, his financial commitments, his risk profile, etc. It is for this very reason that, as per IRDA, all agents need to undergo some mandatory training before being allowed to sell a life insurance product. The 100-hour training pre-licensing covers the technical aspects of insurance and the selling/advisory skills required to be an agent. ICICI prudential Life refers to its agents as financial consultants, as they will need to play more of an advisory role than ever before. The key to success is in providing insurance/pension solutions and not standardised insurance/pension products. New channels like corporate agents and brokers are expected to emerge in a big way. This will also include banks and this will lead to a significant increase in the width of distribution of insurance and pension products. Channels like internet and telephone are likely to emerge as information disseminating channels and as servicing channels rather than sales oriented channels. The rural obligations of all insurance companies will also drive the evolution of a rural delivery channel.

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The third key driver will be the pension plans. There will be a lot of innovation on this front for both type of pension products i.e. products for individuals and products for groups. In the absence of a national safety net, it is important that individuals are encouraged to provide for their retirement income. Given the low percentage of people covered today and the social changes like breakdown of the joint family system and increasing life spans of people, this is very important. While all the uncovered working force will not come under coverage immediately, the percentage of people covered will certainly go up. The pension market is expected to grow at a faster rate than the life insurance market over the next few years at a rate of 25-30% compared to the life insurance markets growth rates of 18-20%. Pre-1991 it would have been possible to predict interest rates with a fair degree of certainty, as they were administered rates. However, today it is difficult to say what interest rates will be in the next six months, let alone over the next 20 to 30 years of the life of the policy. In this scenario, giving guarantees will be difficult as well as risky for any insurance company. In the recent past we have had several instances of banks and institutions going back on their promise of guaranteed returns and thereby leaving the small investor high and dry. Hence companies have chosen not to assure guaranteed returns as offering guaranteed returns in the long term is not a very viable option. BENEFIT AREA Protection Investment Term Assurance Group Insurance term Single premium bonds

CUSTOMER SEGMENT Individuals Corporates

Savings

Pensions

Endowment Pensions plans, / Money annuities Back Gratuity Superannuation

MARKET SEGMENTS
The life insurance and pension business has two distinct customers segments individuals and corporates. In case of the retail business for individuals, the 4 subsegments are protection, investment, savings and pension.

Apart from the existing leader LIC, new companies such as HDFC Standard Life, TATA AIG, ICICI Prudential and more will seek to be present across all the segments of the market. Among the retail products for individuals, pure risk protection products have been introduced by some of the new life insurance companies in the market. As these

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products have no savings component to it, the premiums are very low compared to other products. Investment products provide long term investment growth and insurance cover. This segment is growing rapidly. Savings products like Endowments and Money-Backs provide a combination of protection and investment benefits. The last segment of pension includes products that are aimed at offering customers an income during their retirement years. In case of the group business, there are three sub-segments - protection, statutory savings and pension. Group insurance products are taken to provide low cost life insurance cover to a group of people. Group insurance can be taken to provide low cost life insurance cover as part of employee benefit packages to motivate employees or to cover the housing or vehicle loan given by employer to employee. It can also be used as a substitute for the statutory EDLI subject to approval by the Regional Provident Fund Commissioner. The statutory savings segment essentially comprises of the gratuity products for companies. The pension segment will include products like group superannuation, which will enable a company to benefit from the actuarial, investment and operational expertise of a specialist company to manage its superannuation funds.

MARKETING MIX POLOCIES

Different companies can choose to position themselves differently and hence the marketing mix would be different. However, there are certain common characteristics that one can cull out from the possible strategies that companies can adopt. Product: The development of flexible products to suit individual requirements is what will differentiate the winners from the also-rans. The key to success is in providing insurance solutions, not standardised insurance products. The concept of riders/optional benefits has already been a huge innovation brought about by the new players, which has led to customisation of products for individual needs. However, companies may differentiate themselves on the basis of product segments that they choose to focus on and excel in. Distribution: Different companies may however choose different channels and different geographies to focus on. The channel options are - tied agency force, corporate agents and brokers and this is an area where different companies will make different choices. Many companies like HDFC Standard Life are focussing on all channels whereas companies like Max New York Life are focussing on the tied agency force only. Customer interface will be a key challenge for life insurance companies and includes every that interaction that the customer has with the company, such as sales, new business underwriting, policy servicing, premium payments, claim processing and so on. Technology can play a crucial role in delivering the highest standards of service set by the company and it will be imperative for any serious player to excel in all of these. Price: Price is a relevant differentiator only in two segments - pure term insurance and in pure annuities. Here too, service delivery and financial strength will need to be
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present at a minimum acceptable level for price to be a relevant differentiator. In case of savings oriented products, long term returns generated will be more relevant than just the price of the product. A focus on generating good investment performance and keeping a tight control on costs will help in generating good long-term maturity value for customers. Norms have been laid down on all of these by IRDA and adhering to these while delivering good returns will be a challenge. Advertising and promotion: The level of demand is latent and will have to be activated considerably. The market needs to be developed. Greater awareness of insurance and the need to have it as a protection tool rather than as a tax planning measure needs to be appreciated by the Indian people. Various communication tools including advertising, direct marketing and road shows will contribute to all this and different companies will take different approaches on these. Overall, the life insurance and pension sector is set for rapid changes and growth in the years ahead. Delivering service, building trust and being innovative are key areas in which any company will have to excel in order to do well in the long road ahead. Different companies will take different approaches and it would be myriad of solutions that will be found to delight the Indian customer.

MODERN MARKETING APPROACH

Marketing strategies for insurance in the emerging scenario could be understood in terms of the following steps: R >>>>>> STP>>>>>MM>>I>>>> C Here, R = Market Research STP = Segmentation, targeting, positioning MM = Marketing Mix I = Implementation C = Control Having done market research and finalising on segmentation, targeting and positioning the strategy would focus on the marketing mix namely, Product, Price, Place and Promotion.

While determining the implementation methodology, the four characteristics viz. Intangibility, Inseparability, Perishability and Variability gives rise to certain unique requirements that deserve careful attention while formulating the marketing strategy for insurance. After implementation, the insurers should concentrate on the effective control that would enhance their business.

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In India Insurance is sold and not bought. The agents/Advisors by using various strategies sell the product by convincing the customers. Moreover, they push Policies with the highest premium to pocket a higher commission. The consultative approach to selling is the modern approach, which helps customers and prospects to buy. A consultant makes calls and sells just like any other sales person. The difference is in their attitude, their approach and their commitment. Here, the customer is seen as a person to be served and not a person to be sold. It helps the purchaser to make an intelligent decision. The four-step process includes : Need discovery Selection of the product Need satisfaction presentation, and Serving the sale

This approach to selling their products requires understanding of concepts and principles borrowed from the fields of psychology, communications, and sociology and needs a lot of personal commitments and self discipline from the seller. The commitments referred are: Finding and understanding the needs of the customers. Partnering with the customers. Helping the customers to achieve his business and other objectives by the purchase of the product or service. Believing that your products / services are a great fit with your customers needs, and Believing in yourself and your ability to help the customers in solving their problems.

A consultant is willing to forego short-term gains to achieve greater long term benefit to him and to the customers he serves. He builds relationships on a foundation of trust, respect and performance. Moreover, consultants dont sell theyre specialists who make recommendations to help the prospect to buy. They act as a professional and offer realworld solutions

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that make sense to the customer. Today, the insurers adopt this technique and thereby go on increasing their market share.

SAMPLE FRAME
The area for the study was preferably Delhi but as per the requirement & the availability of the respondents some use to stay at very corners of the state. The respondents were mostly in the age group of 25-60 years, as these were the people who are the target for the companys products as well as companys aim of increasing & developing its channel network. The respondents were from all walks of life that included services, business & even housewives. The respondents were like MBAs, businessmen, self-employed, CAs, Advocates & other professionals. The sample size was very much limited to the area of study.

METHODOLOGY ADOPTED
As for the prospecting of the respondents is concerned, random sampling from the existing database & telecalling was used extensively. Next step involved was of suspecting which was initiated by getting the appointments & having a personal interaction. The sales pitch was provided with the help of business opportunity presentation & also with the discussion & interviews conducted The last step was getting the approval & the application form filled up with the required payment.

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BIBLIOGRAPHY

INTERNET

www.hdfcslic.com, basic information about company, product and services, 10thJune, 2009. www.indiahousing.com, insurance companies in India, 15th June 2009 www.indiacore.com insurance companies 2nd July 2009
http://www.instepinsurance.org/screen/insurance.jpg .19

http://www.akademiconsulting.com.tr/img/assets/a0.jpg.............20

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