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A REPORT ON

{En estimation of potential market of different policies of reliance life insurance vis--vis competitors}

BATCH OF 2008

BY ASHUTOSH PATHAK 6ND12669

CONTRACT:

A REPORT ON {En estimation of potential market of different policies of reliance life insurance vis--vis competitors} By ASHUTSOH PATHAK Enroll. No. - 6ND12669 CourseM.B.A. INC Center- KOTA Summer Internship Program A report submitted is the partial fulfillment of requirement of the M.B.A. program (class of 2006-2008) ICFAI NATIONAL COLLEGE Copies Marked List:Company Guide Faculty Guide Regional sip coordinator Ms. Vivek sharma Dr. Ritu singh Mr. Abhishek coobchandani

ACKNOWLEDGEMENT At the outset , I would like to thank RELIANCE LIFE INSURANCE for giving me the approval to do this project in the organization ,I am grateful to Ms.GEETA GUPTA (Head of

KOTA branch ) for the moral support, encouragement and generous assistance . No good work is complete unless and until it is guided by versed teacher. I wish my deep gratitude to my faculty guide Dr. RITU SINGH whose able guidance helped me in all respects in presenting the report as best as can be. I am thankful to her for timely advices towards completions of this project. I would like to express my deepest gratitude to CDC guide .for giving me an opportunity to work under such a prestigious company & also helping in completing my project.
I shall be failing in my duty if I not express my thanks to the company guide Mr.VIVEK SHARMA (Sip Trainer) who undoubtedly helped me and without whose help the project would not have been completed. I would like to give my deep gratitude to various personalities in the company Mr. Mahendra Singh Chauhan.

Needless to mention again that I could complete my seminar report only because of the spirited guidance of the above persons who did not leave a single stone unturned in inspiring me during my project work . ASHUTOSH PATHAK (6ND12669)

SUMMERY

En estimation of potential market of different policies of reliance life insurance vis--vis competitors As the project title itself indicates the En estimation of potential market of different policies of reliance life insurance vis--vis competitors w.r.t. KOTA city it includes all the aspect of life insurance advisory services of RELIANCE LIFE INSURANCE (Kota). The project contains all the detail information about the Life Insurance Industry and also other facility off its competitor company. The project is carried out the competitive study of other Life Insurance Companies. Dividing it in the phases carried out the study, firstly the data was collected from the net & various sources. Next phase was to meet people to create business & to recruit advisors. The last phases to find out people who interested to open Reliance life insurance franchise in Baran city. It was recommended to Reliance life insurance that, they should open branches in other cities, beside they should also target small city people and they invest more for product awareness activities.

Introduction

The purpose of the project is to know about the market for Reliance Life Insurance Company. Today overall market for insurance industry is consider as 100% than only 30% market has covered by insurance companies so there is 70% market is remaining for insurance companies. Reliance Life Insurance Company is growing very fast. In March month Reliance Life Insurance Company has maximum business from its competitors.

In future life insurance sector going to give thousands of vacancies to the students so there is lots of opportunities for MANAGEMENT students. Because capture to remaining 70% market they require lots of men over. Students have to give their full efforts or 100% target in their summer internship program for getting good placements in life insurance sector.

(1.2) Objectives The prime objective of the study was to understand the market and analysis the competitors.

The survey was used to

Understand the type of Life Insurance Policies desired by the customer. To find out the degree of awareness of life Insurance. To study the consumer behavior. To find out the market potential for life Insurance Policies in Kota.

To learn professionalism in market of financial product and services. To find prospects for the institution.

To conduct the survey to know how many persons have Life Insurance Policies or how many dont have.

(1.3) SCOPE OF THE STUDY

I am undergoing the summer internship project in RELIANCE LIFE INSURANCE CO. I had joined the company on 19th March, 2007 and assigned task of doing the market survey work for Reliance Market Return Plan. I have done my project on En estimation of potential market of different policies of reliance life insurance vis--vis competitors like ICICI Prudential life Insurance & Birla Sun Life etc. In this report I also had to present the details of other financial instruments in which the customers invest their money like mutual funds. It is very interesting project and very learning experience for me. My thinking has been changed for the life insurance sector by this project.

(1.4) LIMITATIONS
Though I had completed my project on time but I still faced certain problems while doing the market survey work and

collecting information for my project report they are listed below:


o

Searching for the prospective client for the insurance policy is very time consuming. Some clients have already taken the policies of our competitors and they are not interested in giving information about it.

o Limited data availability.


o

The unit linked products are very new for me and I had consumed a lot of time for understanding about those.

Irregular consumer behavior regarding taking the Life insurance policies.

(1.5) SOURCES AND METHODS The data was from companies and it is first hand information .The Company various contents and the soft copies of the same proved to an important source of the information in caring out the project. The other necessary

information is collected from the various other sources out side the company i.e. from newspapers, websites, etc. To sum up the resources PRIMARY SOURCES Company Records Informal talks with the personnel SECONDARY SOURCES Websites Newspaper Magazines Textbook

{2.1} why we take life insurance policies?


As we all know that now days life Insurance is not only to secure the life. It is also an investment phase.

The benefits of life insurance policies now days-:

To secure the life To investment To get the benefits in the future

{2.2}
MAJOR COMPETITORS OF LIFE INSURANCE COMPANIES IN INVESTMENT INSTRUMENT

MUTUAL FUNDS

(2.3) MUTUAL FUNDS A security that gives small investors access to a welldiversified portfolio of equities, bonds and other securities. Each shareholder participates in the gain or loss of the

fund. Shares are issued and can be redeemed as needed. The fund's net asset value (NAV) is determined each day. Each mutual fund portfolio is invested to match the objective stated in the prospectus. It has been shown in study after study that a majority of mutual funds fail to beat the market. Also, picking mutual funds purely on the basis of past performance usually does not work. As you probably know, mutual funds have become extremely popular over the last 20 years. What was once just another obscure financial instrument is now a part of our daily lives. More than 80 million people, or one half of the households in America, invest in mutual funds. That means that, in the United States alone, trillions (yes, with a "T") of dollars are invested in mutual funds.

In fact, too many people, investing means buying mutual funds. After all, its common knowledge that investing in mutual funds is (or at least should be) better than simply letting your cash waste away in a saving account, but, for most people, that's where the understanding of funds ends. It doesn't help that mutual fund salespeople speak a strange

language that, sounding sort of like English, is interspersed with jargon like MER, NAVPS, load/no-load, etc. Originally mutual funds were heralded as a way for the little guy to get a piece of the market. Instead of spending all your free time buried in the financial pages of the Wall Street Journal, all you have to do is buy a mutual fund and you'd be set on your way to financial freedom. As you might have guessed, it's not that easy. Mutual funds are an excellent idea in theory, but, in reality, they haven't always delivered. Not all mutual funds are created equal, and investing in mutual isn't as easy as throwing your money at the first salesperson who solicits your business.

(2.4) certain mutual funds terms


Net assets value (NAV). Tactical assets allocations Portfolio Portfolio turnover

No- load fund NAV per share Non-taxable dividends Open-end fund Strategic assets allocation Tracker funds Trailer fee Trust deed Vulture fund Weighted average credit rating Value at risk

(III)

INDUSTRY PROFILE

{3.1} Introduction of Life Insurance


Indian Insurance Industry: First Learn about Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual. The risk, which can be insured against include fire, the peril of sea, death, incident, & burglary. Any risk contingent upon these may be

insured against at a premium commensurate with the risk involved. Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of a certain event. Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events. With the help of Insurance, large number of people exposed to a similar risk makes contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good.

{3.2} Brief history of Life Insurance Sector


The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost 190 years. The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.

Some of the important milestones in the life insurance business in India are: 1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928 - The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938 - Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956 - 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are: 1907 - The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.

1957 - General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. 1968 - The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972 - The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

{3.3} Overview of Life Insurance


Insurance Overview will try to do a serious attempt of describing the meaning of insurance and the terms associated with it. Many people do have heard about the term Insurance but don't have a clear idea about it. Again many might not be conversant with the different entities of this huge market of insurance. Insurance Overview would try to give a bird's eye view on the different sectors of the insurance industry such as insurance company, insurance broker, etc. Insurance also has certain concepts attached with it like insurance premium, insurance rates, etc. before buying a insurance a customer must be conversant with the benefits and risks associated with it. They must be aware of the extent of the regular payment of the premium to the insurance company.

Insurance Overview also tries to give the best insurances available in the market. The selection of the best insurance is based on certain parameters and becomes a bit difficult and cumbersome for a particular individual to choose from the whole array of available insurance offers. But now-a-days the insurances are available online just like the credit cards and mutual funds where one could select, compare and apply for the same. Terms and conditions of specific insurances are written in the application forms where all the particulars including rules, fees structure, etc are written with minute details. Hence a insurance customer must go through all these before applying for the same. Policies of insurance companies differ from each other. Thats why reading the terms of the insurance companies become so much important.

Insurance Overview thus has tried to point out the important points which a insurance customer should know. Tried to point out the important points which a insurance customer should know.
Meaning Insurance Insurance Company Insurance Broker Insurance Policy Term Insurance Insurance Claim

Mortgage Insurance Insurance Coverage On line Insurance Affordable Insurance Best Insurance Insurance Premium Insurance Risk Insurance Information Insurance Benefits

{3.4} List of Life Insurance Companies in India


Bajaj Allianz Life 2. ICICI Prudential Life Insurance 3. HDFC Standard Life 4. Birla Sun life 5. SBI Life Insurance 6. Kotak Old Mutual Life Insurance 7. Aviva Life Insurance 8. Reliance Life Insurance - Formerly known as AMP Sanmar LIC 9. Tata AIG Life 10. MetLife India Life Insurance 11. ING Vysya Life Insurance 12. Max Network Life Insurance

13. Sahara Life Insurance - Now they are not into business 14. Shriram Life Insurance

{3.5} Present Status of Life Insurance Now life insurance is not only.. To risk cover of life To secure our future To get tax benefits But also Today you can get return on your invested money in the plan with the risk cover.

Now days life insurance is not only a risk cover instrument, it is also a Investment instrument. The processing of current life insurance companies is like a mutual fund. The fund managers are here to take responsibility of your money.

{IV}

ABOUT

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of Indias leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investment, private equity and other activities in financial services. Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC) registered with the Reserve

Bank of India under section 45-IA of the Reserve Bank of India Act, 1934. Reliance Capital sees immense potential in the rapidly growing financial services sector in India and aims to become a dominant player in this industry and offer fully integrated financial services. Reliance Life Insurance is another step forward for Reliance Capital Limited to offer need based Life Insurance solutions to individuals and Corporate. Few men in history have made as dramatic a contribution to their countrys economic fortunes as did the founder of Reliance, Sh. Dhirubhai H Ambani. Fewer still have left behind a legacy that is more enduring and timeless.

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of Indias leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services.

Reliance Life Insurance is an associate company of Reliance Capital Ltd., which along with its associates has acquired 100% shares in AMP Sanmar Life Insurance Co Ltd. Reliance Life Insurance would strive hard to achieve the following goals:

Emerge as transnational Life Insurer of global scale and standard Achieve impeccable reputation and credentials through best business practices Mission: Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and pension plans

Anil Ambani's Reliance Life Insurance Company Limited, a subsidiary of Reliance Capital Limited, has concluded a much-awaited deal in the life insurance sector. Even before selling a single life insurance policy, Reliance Life, a part of the Anil Dhirubhai Ambani Enterprises, has snapped the Chennai-based private life insurer AMP Sanmar Life Insurance Company Limited. AMP Sanmar is a 26:74 joint venture between AMP, Australia and Sanmar group. Interestingly, only recently, the Reliance Life had approached the Insurance Regulatory and Development Authority (IRDA) to revive its business license that had

been cancelled by the regulator for non-commencement of business

MARKET SHARE&MARKET STRUCTURE According to IRDA 2007 YTD (YEAR TILL DATE) FEB Market share of Reliance is 4.21%. According to IRDA 2007 MTD (MONTH TILL DATE) FEB Market share of Reliance is 6.18%

6.18 7.21 27.65 15.07 I.PRO BAJAJ ALLIANZ SBI HDFC RELIANCE LIFE

22.35

MARKET SHARE OF DIFFERENT PRIVATE INSURANCE COMPANY FOR FEB 2007

PRODUCTS OF RELIACNE LIFE INSURANCE IN INDIVIDUAL PHASE {4.1}


Key Features Reliance Automatic Investment Plan

Two plan options to choose from Ready-made and


Tailor-made Life Stage asset allocation to ensure automatic change in investment patterns, under the Ready-made Plan option Freedom to decide your own fund mix based on your risk profile under the Tailor-made Plan Regular, limited, single premium paying options Unmatched flexibility through our Exchange Option Liquidity in the form of partial withdrawal Option to avail of Accidental Death Benefit, Accidental Total, Premium Disability and Term Insurance riders
Reliance Automatic Investment Plan at a glance

Basic Plan Age at Entry Age at Maturity Premium Paying Term Min Sum Assured Max Sum Assured

Minimum 30 days 18 years last birthday 5 years

Maximum 65 years last birthday 80 years last birthday 30 years

Regular / Limited Premium: Annualized Premium for 5 years or Annualized Premium for half of the policy term, whichever higher Single Premium 125% of the single premium amount No Limit

Benefit Illustration To enable a better understanding on how the plan works, please refer to the below table for Regular Premium.

Age of the customer Annual Premium Paid Policy Term Premium Paying Term Sum Assured Maturity Values: at 6% investment return at 10% investment return

30 25,000 15 15 1,87,500 4,95,104 6,94,534

35 25,000 15 15 1,87,500 4,94,413 6,93,530

40 25,000 15 15 1,87,500 4,93,017 6,91,444

45 25,000 15 15 1,87,500 4,90,506 6,87,755

Minimum Premium Yearly Regular Premium option Limited Premium Single Premium Min Top Up amount Rs 10,000 Rs 20,000 Rs 25,000 Rs 2,500 Half Yearly Rs 5,000 Rs 10,000 Quarterly Rs 2,500 Rs 5,000 Monthly Rs 1,000 Rs 2,000

{4.2}
For the select few like you, the Reliance Money Guarantee Plan is a Unit Linked product addressing comprehensive need to strike that perfect balance of Protection and Savings that you deserve as you grow successfully. The Reliance Money Guarantee Plan is a Regular Premium Unit Linked Policy which guarantees the entire premium (including premiums for top- ups) paid by you. Key Features

Capital Guarantee the sum of all premiums paid is guaranteed on maturity or on death before the maturity. Capital Guarantee is available on both the basic premiums as well as on top-up premiums Unique Return Shield feature to protect your returns Choice to invest from 3 pre-packaged investment fund options Unmatched flexibility through our Exchange Option to move between the Reliance Money Guarantee suite of products offered, as you grow up the ladder Liquidity in the form of partial withdrawals from top-up fund Option to package with Accidental Death & Disability and Term Insurance riders Benefits in Details

Capital Guarantee: The plan offers Capital Guarantee provided the Policy is kept in full force by payment of due premiums on time.

Capital Guarantee under the Basic Plan: Premiums paid under the Basic Plan are guaranteed on the maturity of the Policy or on death during the Policy Term.

Capital Guarantee under the Top-Up premiums: Each top-up premium paid is guaranteed on death during the Policy Term provided there are no partial withdrawals from that top-up. Each top-up premium paid is guaranteed on maturity of the Policy provided the Policy Term is greater than ten years,

there are no partial withdrawals from that top-up and the topup was paid ten years before the maturity date.

Life Cover Benefit: The amount of Death Benefit depends on the age of the Life Assured at the time of death

Type of Fund Fund D

Investment Objectives The investment objective of Fund D is to provide investment returns that exceed the rate of inflation in the long term while maintaining moderate probability of negative returns in the short term. The risk appetite is defined as 'moderate'.

Asset Asset Category Allocation Target (%) Range (%) Money Market Instruments Debt Securities such as Gilts, Corporate Debt excluding Money Market Instruments Equities 0 - 20 0

0 - 100

60

0 - 40 0 - 20

40 0

Fund E

The investment objective of Fund Money Market E is to provide, in the long term, Instruments

returns which are significantly higher than the inflation rate, through high exposure to equity investments, while recognizing that there is some probability of negative returns in the short term. The risk appetite is 'moderate to high'. Fund F The investment objective of Funds is to provide, in the long term, returns which are significantly higher than the inflation rate, through high exposure to equity investments, while recognizing that there is some probability of negative returns in the short term. The risk appetite is 'moderate to high'.

Debt Securities such as Gilts, Corporate Debt excluding Money Market Instruments Equities Money Market Instruments Debt Securities such as Gilts, Corporate Debt excluding Money Market Instruments Equities

0 - 100

50

0 - 50 0 - 20 0 - 100

50 0 40

0 - 60

60

{4.3} Reliance Endowment Plan gives you just the financial independence to realize your dreams in the future. It lets you decide how much you would like to set as your sum assured based on your current financial position and your expected future expenses. Key Features On maturity receive Sum Assured plus bonuses Wealth creation through bonus additions More value for your money by way of High Sum Assured Rebate Increase your insurance protection by adding Term Cover Choose to pay regular or single premium

Choose to add the benefit of two riders - Critical Illness Rider and Accidental Death Benefit & Total and Permanent Disablement Rider Choose to avail of a Policy Loan after three full years of premium payment How does this Plan work? You pay premium every year for the entire term and get Sum Assured plus accumulated bonuses at maturity. On death, your Beneficiary will get the Sum Assured plus accumulated bonuses.

Benefits

Maturity Benefit: On maturity you get Sum Assured plus accumulated bonuses (if any) till that date. Life Cover Benefit: In the unfortunate event of loss of life, your family will receive the Sum Assured plus accumulated bonuses (if any) till that date. Rider Benefit: You also have the option to add three additional benefits to customize the Policy as per

Your needs for the regular premium plan 1. Term Life Insurance Benefit Rider

2. Accidental Death Benefit & Total and Permanent Disablement Rider 3. Critical Illness Rider

Critical Illness Age at entry Age at expiry Sum Assured Minimum policy term 18 yrs 23 yrs 55 yrs 64 yrs

Rs Rs 10,00,000 (subject to a maximum of 1,00,000 basic policy sum assured) 5

Exclusion with Critical Illness


Cancer: any CIN stage (cervical intraepithelial neoplasia); any premalignant tumour; any non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers including malignant melanoma stage IA (T1a N0 M0); any malignant tumour in the presence of any Human Immunodeficiency Virus. Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of Troponin I or T; other acute Coronary Syndromes. Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.

Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures; key-hole surgery. Paralysis: Paralysis due to Guillain-Barr-Syndrome. The tables below show the indicative annual premiums for individual Life Assured across different Sum Assured and ages for a Policy Term of 20, 25 and 30 years.
Sum Assured: 1 Lakh Age\Term 20 25 30 30 4814 3733 3052 35 4897 3842 3192 40 5039 4022 3421 45 5273 4318 3799 Sum Assured: 3 Lakh 20 25 30 14142 10899 8856 14391 11226 9276 14817 11766 9963 15519 12654 11097 Sum Assured: 5 Lakh 20 25 30 23070 17665 14260 23485 18210 14960 24195 19110 16105 25365 20590 17995

{4.4} While most insurance plans block your money for a certain period of time, Reliance Cash Flow Plan gives you the double benefit of life insurance along with easy liquidity through lump sum cash. It provides money periodically when you need it. It lets you live life to the fullest today and at the same time, helps you stay protected for tomorrow by giving you the flexibility of receiving a specified percentage of the Sum Assured at specified intervals. Key Features

Easy Liquidity - Get periodic cash flows at the end of the fourth year and thereafter at the end of every three years Wealth creation through bonus additions On maturity receive accumulated bonuses along with final lump sum payout More value for your money by way of High Sum Assured Rebate Full Sum Assured plus bonuses in case of your unfortunate death. This is over and above the Survival Benefits already paid Option to add two riders Critical Illness Rider and Accidental Death Benefit & Total and Permanent Disablement Rider

Benefits
Survival Benefit: Get a percentage of the Sum Assured on the fourth anniversary and on every third Policy Anniversary till maturity.

Maturity Benefit: On maturity you get the remaining percentage of the Sum Assured plus accumulated bonuses. Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary will receive the full Sum Assured plus accumulated bonuses till that date. Rider Benefit: You also have the option to add two additional benefits to customize the Policy as per your needs: Accidental Death Benefit & Total and Permanent Disablement Rider 1. Critical Illness Ride 2. When & how much of Fixed Benefits paid?

Money Back survival benefits paid per Rs.1,000 sum assured on survival to the end of year Term 4 7 10 13 16 19 22 25 28 31 34 7 500 500 10 333 333 333 13 250 250 250 250 16 200 200 200 200 200 19 167 167 167 167 167 167 22 143 143 143 143 143 143 143 25 125 125 125 125 125 125 125 125 28 111 111 111 111 111 111 111 111 111 31 100 100 100 100 100 100 100 100 100 100 34 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9

{4.5}
As a parent, it is only natural to dream of a smooth and blissful life for your child. Which is exactly why you need to secure your childs tomorrow, today? Reliance Child Plan helps you save systematically so that you can give your child the much-needed financial security in the future. Simply put, Reliance Child Plan gives you the freedom to enjoy every moment with your child today, without worrying about his/her tomorrow. Key Features Risk protection for you during the term of the Policy Accumulated bonus at the end of the Policy Term

25% of Sum Assured payable every year as lump sum benefit during the last four Policy anniversaries All future premiums are waived in the event of unfortunate loss of life Guaranteed Fixed Benefits continue even after loss of life of the Policyholder More value for your money by way of High Sum Assured Rebate Choose to add the benefit of two riders Critical Illness Rider and Accidental Death Benefit & Accidental Death Benefit & Total and Permanent Disablement Rider Policy participates in profit even after the loss of life of the Life Assured
Sample Illustration The tables below show the indicative premiums for an individual Life Assured across different Sum Assured for a Policy Term of 15, 18 and 20 years.

Sum Assured: 1 Lakh Sum Assured: 3 Lakh Sum Assured: 5 Lakh Age\Term 30 35 40 45 15 7665 7830 8115 8655 18 6230 6415 6720 7290 20 15 18 20 15 18 20

5520 22695 18390 16260 37325 30150 26600 5720 23190 18945 16860 38150 31075 27600 6045 24045 19860 17835 39575 32600 29225 6630 25665 21570 19590 42275 35450 32150

What is the Policy Term? Minimum Policy term: 5 years

Maximum Policy term:

20 years

Who can buy this product? Minimum age at entry: Maximum age at entry: Minimum age at maturity: Maximum age at maturity: What is the Sum Assured? Minimum Sum Assured: Rs 25,000 Maximum Sum Assured: No Limit 20 years 60 years 25 years 70 years

{4.6}
What are the different fund options? Reliance Life Insurance understands the value of your hard earned money and in our Endeavour to help you grow your wealth, we offer you 4 different tailor-made investment funds. You have the option to allocate your premium in these funds as you wish. The four different funds offered are 1. Capital Secure Fund: The investment objective of this fund is to maintain the value of all contributions (net of charges) and all interest additions. This Fund offers steady return for very little risk. The risk profile of this fund is low. Your funds are invested 100% in Bank Deposits, Government Bonds and debt instruments that offer financial security.

Further, allocation in Capital Secure Funds for a policy is a subject to a maximum limit of 20% at any time. 2. Balanced Fund: The investment objective of this Fund is to provide you with investment returns which exceed the rate of inflation in the long term while maintaining a low probability of negative investment returns. In this fund, a major portion of your funds are invested in fixed securities while a small percentage is invested in the equity market, which is exposed to market movements. The risk profile of this fund is low to medium. Investment would be at least 80% in fixed interest securities and maximum 20% in equities. 3. Growth Fund: The investment objective of this Fund is to provide you with investment returns which exceed the rate of inflation in the long term while maintaining a moderate probability of negative investment returns. This fund offers a greater portion

of your funds are invested in fixed securities while a small percentage is invested in the equity market, which is exposed to market movements. The risk profile of this fund is medium to high. Investment would be at least 60% in fixed interest securities and maximum 40% in equities. 4. Equity Fund: The investment objective of this fund is to provide Policyholders with high exposure to equities and the possibility of investment returns which generate a high real rate of return in the long term while recognizing that there is a significant probability of negative investment returns in the short term. This fund offers a totally equity based investment option. Your returns depend entirely upon the performance of the equity market. The risk profile of this fund is high. The higher risk of this portfolio means that expected returns would also be higher. Investments would not exceed 30% in Bank Deposits and may be 100% in equities.

What is the Policy term? Minimum Policy term 5 years Maximum Policy term 40 years Flexible Premium Payment Modes? You have a choice of five premium payment modes Annual Half-yearly Quarterly Monthly Single premium Rs. 10,000 Rs. 5,000 Rs. 2,500 Rs. 1,000 Minimum Premium is Rs. 25,000

{4.7} Retirement means different things to different people, while some want to relax and take a trip around the world, some want to start up a venture of their own, and pursue a dream harnessed for years. The power to make your autumn years special lies only with you. The Reliance Golden Years Plan gives you the power and the right kind of solution - A retirement plan that allows you to save systematically and generate the much-needed corpus to make your olden years look golden. UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Key Features

Invest systematically and secure your golden years A flexible unit-linked pension product that is different from traditional life insurance products with Vesting Age between 45 and 70 years Four different investment funds to choose from Flexibility to switch between funds Option to pay Regular, Single as well as Top-up Premiums Flexibility to advance/extend your Vesting Age Tax free commutation up to one third of Fund Value at Vesting Age

What are the benefits available with Reliance Golden Years Plan? At Vesting: On vesting, you can purchase annuity plan for the full Fund Value You may commute up to one third of Fund Value as tax free lump sum and the balance can be used for the purchase of annuity Open Market Option: you can purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company. At Death: In the unfortunate event of your death during the Policy term, the Beneficiary will get the Fund Value. This amount can be taken as a lump sum or an annuity can be purchased for the entire lump sum or portion of it. The Beneficiary will have the option to purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.

. Premium Allocation Charge:


Year 1 Subsequent years Single premium Top-Up premiums 10% 5% 5% 5%

2. Fund Management Charges:


Unit Linked Funds Capital Secure Balanced Growth Equity Annual Rate* 1.50% 1.50% 1.75% 1.75%

PRODUCTS OF RELIACNE LIFE INSURANCE IN INDIVIDUAL PHASE {4.8}


What is Reliance Group Term Assurance Policy? Reliance Group Term Assurance Policy is a one year Renewable Term Assurance contract. The benefit is payable on the happening of the contingency during one year. At the end of the year, the contract may be renewed. Who is Reliance Group Term Assurance Policy designed for? Employers looking for a comprehensive professionally administered term assurance cover for their employees. Subject to approval by the Provident Fund Commissioner, this Policy can be used as a replacement for the Employees Deposit Linked Insurance Scheme under the Provident Fund Act.

What are the benefits provided? A payment is made on the death of an employee. Cover can be: Fixed multiple of salary % of salary for each year of future service to normal retirement date Fixed Rupee amount Fixed Age-related scale Formula based on designation / rank of employees in the group

If an employee becomes disabled, as defined by us, then the benefit above is accelerated and paid out in 5 equal annual installments. No further benefit is payable subsequently. No benefits are payable on survival to the end of the year. What options are available? You can choose: Whether or not to provide the benefit on disablement Whether or not you wish to benefit from experience in your policy Whether or not to give your employees the choice of continuing their cover with us under an individual policy No. of Lives No. of Life years X Y

500 1000 2500 5000 7500 10000 15000 20000 50000 100000

1500 3000 7500 15000 22500 30000 45000 60000 150000 300000

50% 50% 60% 75% 75% 75% 75% 75% 85% 85%

60% 60% 61% 63% 65% 67% 70% 70% 70% 70%

{4.9}
What is Employee's Deposit Linked Insurance Scheme, 1976? All establishments with at least 10 full-time permanent employees and to whom the Employee's Provident Fund and Miscellaneous Provisions Act, 1952 applies, have a statutory liability to subscribe to Employee's Deposit Linked Insurance Scheme (EDLI), to provide for life insurance for all their employees. Is Reliance EDLI Scheme approved for offer as an alternative to EDLI? YES, The Central Provident Fund Commissioner has approved Reliance Life Insurance Employee Benefit Life Assurance policies to be offered as an alternative to the Employee's Deposit Linked Insurance Scheme, 1976 (EDLI). What are the benefits of Reliance EDLI Scheme as against EDLI?

Several benefits of replacing EDLI by Reliance EDLI Scheme policy are: Possible reduction in contributions payable by the employer. The premium payable by the employer under the Reliance EDLI Scheme could be lower than the total contribution paid by the employer under the EDLI Scheme depending on the average age and risk profile of the industry. Simple structure of the life insurance cover Life cover provided by EDLI is proportional to the balances in the PF account of the employee subject to certain maximum limits. Life cover provided by Reliance EDLI Scheme is a simple flat cover equal to Rs 62,000, the maximum amount specified by the Employees Deposit Linked Insurance Scheme, 1976 (EDLI).

Stress - free administration Experienced and professional administration resulting in hassel free services for member employee data management and claims payments apart from others Risk profile of the funds Fund type Capital Secure Time Horizon Short Risk Level Low Level of returns Low Asset Allocation Fixed interest Equities securities not not more less than than 100% 80% 60% 0% 20% 40%

Balanced Medium Growth

LowMedium Medium Long Medium- Medium

High

Net Asset Value (NAV) calculation: The Unit Price of each fund will be calculated on a daily basis. Total Market Value of assets plus/less expenses incurred in the purchase/sale of assets plus Current Assets plus any accrued income net of Fund Unit Management Charges less Current Liabilities less Value = Provision Total Number of units on issue (before any new units are allocated/redeemed)

{4.10} Why should you consider the Reliance Group Superannuation Policy? As an employer you currently contribute 12% of each employee's salary into the Employees Provident Fund Scheme. However, is this sufficient to provide for an adequate retirement income for your employees? The answer to this question is unfortunately, NO. Why? There are two main reasons. Firstly, your employees have the option to withdraw assets from the Provident Fund on a regular basis to meet ongoing lifestyle expenses. Most of your employees will reach retirement age with an inadequate balance to purchase an income stream to provide them a reasonable income on retirement.

The second reason is that employees are now retiring younger but are living longer. Therefore the capital they need to buy an income stream is much greater than ever before, and this increase in life expectancy will continue to grow making this gap even greater. What does our Reliance Group Superannuation Policy offer? Superannuation is a tax effective way for employers to reward and recognize employee performance. The Reliance Group Superannuation Policy provides you with the flexibility to enable you to tailor your Superannuation Scheme to suit various groups of employees.

Employers can receive a full tax deduction for contributions up to 15% of an employee's salary into the Reliance Group Superannuation Policy arrangement. What are the investment options and what is the flexibility? Investment choice allows you to choose any combination of our three investment funds to maximize your investment return.
Risk profile of the funds Asset Allocation Level of Fixed interest returns securities not less than Low 100%

Fund type Capital Secure

Time Risk Horizon Level Short Low

Equities not more than 0% 20% 40%

Balanced Medium Growth Long

LowMedium 80% Medium Medium- Medium 60%

High Net Asset Value (NAV) calculation: The Unit Price of each fund will be calculated on a daily basis. Total Market Value of assets plus/less expenses incurred in the purchase/sale of assets plus Current Assets plus any accrued income net of Fund Management Charges less Current Liabilities Unit Value = less Provision Total Number of units on issue (before any new units are allocated/redeemed)

{4.11} The Indian Government introduced the Payment of Gratuity Act in 1972. Generally gratuity accrues at a rate of 15 days last drawn salary per year of service for each employee or as defined by the trust deeds. Gratuity is payable immediately on cessation of employment, provided the employee has continuous service of at least five years. The five year provision does not apply on death or disablement of the employee. Gratuity by nature is a medium- to long-term liability of the employer and accordingly an appropriate medium- to long-term investment strategy should be adopted by trustees to match assets and liabilities Liability for your employees gratuity is often the trickiest thing to forecast accurately and manage well. While doing so you may come across some pertinent questions: What is my true liability for employees gratuity? How do I manage this liability? Am I maximizing my potential tax benefit? Am I rewarding my most valuable employees adequately? Am I matching long-term liabilities

under Gratuity with my investment strategy? Are my Gratuity assets professionally managed? We at Reliance Life Insurance Company Limited can be of help to find answers to most of these very relevant questions. We can assist you to meet your obligations under the Payment of Gratuity Act while providing innovative solutions and delivering long-term results for your investment through our Reliance Group Gratuity Plan. You can also transfer your existing gratuity liability managed under some other funds to Reliance Life Insurance Company Limited.

Reliance Group Gratuity Plan This is a unit linked group Gratuity product with three different fund options, namely Capital Secure, Growth and Balanced Funds. It enables employers / trustees with more than 20 employees to outsource the management of their employees Gratuity funds and the related administration to Reliance Life Insurance Company Limited. Policy Conditions Minimum/Maximum annual past service gratuity contribution Rs.200000/no limit Minimum/Maximum Entry Age - 18 years last birthday/64 years last birthday Maximum Maturity Age - 65 years last birthday Minimum Policy Term - 1 year Minimum/maximum Insured death benefit sum assured Rs.1000 per member/no limits

The Plan The Reliance Group Gratuity Plan is a unit linked Plan where the employer can choose for each member past service gratuity to be paid out to the employee and a level of insured death benefit, subject to a minimum insured death benefit of Rs.1000 per member. This insurance premium will be quoted by us and will be payable over and above the past service gratuity liability contributions. Each past service gratuity liability contribution received will be utilized to purchase units in the unit-linked funds chosen by the employer / trustees. The fund options have different time horizons, risk profiles and return levels.

(V)

COMPETITORS OF

{5.1} About Birla Sun Life Insurance Company Limited Birla Sun Life Insurance pioneered the unique Unit Linked Life Insurance Solutions in India Within 4 years of its launch, BSLI has cemented its position as a leading player in the Private Life Insurance Industry There has been focus on Investment Linked Insurance Products, supported with protection products to maintain leadership in product innovation. Multi Distribution Channels- Direct Sales Force, Alternate Channels and Group offering convenient channels of purchase to customers. Web-enabled IT systems for superior customer services. First to have issued policies over the Internet. Corporate governance and a high degree of transparency in all business practices and procedures. First to have an operational Business Continuity Plan. VISION

To be a world class provider of financial security to individuals and corporatist and to be amongst the top three private sectors life insurance companies in India. MISSION To be the first preference of our customers by providing innovative, need based life insurance and retirement solutions to individuals as well as corporatist. These solutions will be made available by welltrained professionals through a multi channel distribution network and superior technology.

Our Endeavour will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and the highest possible returns to our shareholders. VALUES Integrity Commitment Passion Seamlessness Speed IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER With Bajaj Allianz Unit Gain Plus Gold we have formulated a unique combination of protection and prospects of attractive returns with investment in various mixes of securities to make a perfect plan to last you a lifetime of prosperity and happiness.

Some of the key features of this plan are: Guaranteed life cover, with a flexibility to choose insurance cover according to your changing needs. Presenting a unique investment Asset Allocation Fund wherein you have not to worry to switch funds in case market condition changes rather our experienced Fund Managers will monitor the mix of assets in the fund and will manage the mix in such situations to maximize your returns.

If you want to manage the mix of assets for your policy on your own, you have the choice of 5 other investment funds with complete flexibility to switch money from one fund to other to manage your investments better. Your policy continues to participate in investment performance of the fund(s) even if you are not able to pay 3 full years premium. Get maturity value equal to the Fund Value at maturity date or in periodic installments spread over a maximum period of five years. A host of optional additional rider benefits which includes assurance to your family with family income benefit and waiver of premium benefit. How does the plan work? Premiums paid by you, net of premium allocation charge, are invested in fund(s) of your choice and units are allocated depending on the unit price of the fund(s). The value of your policy is the total value of units that you hold in the fund(s). The insurance cover charges, policy administration charges and the additional rider

benefit charges (if any) are deducted through monthly cancellation of units. Fund Management Charge is priced in the unit value.

{5.2} ICICI Prudential Life Insurance ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI was established in 1955 to lend money for industrial development. Today, it has diversified into retail banking and is the largest private bank in the country. Prudential plc was established in 1848 and is presently the largest life insurance company in the UK. For the financial year ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for a total sum assured of Rs 13,780 crore and wrote nearly 615,000 policies. ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential's equity base stands at Rs. 925 crore with ICICI Bank

and Prudential plc holding 74% and 26% stake respectively. In the financial year ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for a total sum assured of Rs 13,780 crore and wrote nearly 615,000 policies. For the past four years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com.

DISTRIBUTION ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in 74 cities and towns in India. The company has seven banc assurance tie-ups, having agreements with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank and some co-operative banks, as well as over 150 corporate agents and brokers. It has also tied up with NGOs, MFIs and corporatist for the distribution of rural policies and organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially and economically underprivileged sections of society. ICICI Prudential has recruited and trained about 56,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service to customers. NEW DELHI: ICICI Prudential Life Insurance launched a platform for senior citizens in partnership with Dignity Foundation, providing them a forum to engage in productive activities.

"While financial independence is a key determinant for a satisfying life post retirement, it is not the only factor that promises quality life at that stage... Through Active Age, we will enable senior citizens to lead a more active, wholesome life and age productively," ICICI Prudential managing director Shikha Sharma said in a statement.

{4.3} Bajaj allianz life insurance Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between two leading conglomerates- Allianz AG, one of the world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world. Bajaj Allianz Life Insurance Over 40,00,000 satisfied customers A countrywide network of 876 offices Assets under management Rs. 5,500 cr. Shareholder capital base of Rs. 700 cr.

Vision
Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the largest manufacturer of two-wheelers and threewheelers in India and one of the largest in the world. (Additional protection for you and your family): Bajaj Allianz Life Insurance offers you the flexibility to enhance your basic insurance policy by attaching additional benefits that give more protection to you and your family. You can choose to take all

or some of the additional benefits. Bajaj Allianz Life Insurance allows you to redesign your life insurance coverage to suit your needs, providing total protection against these uncertainties.

Growing at a breakneck pace with a strong pan Indian presence Bajaj Allianz Life Insurance has emerged as a strong player in India... Bajaj Allianz Life Insurance Company Limited is a joint venture between two leading conglomerates Allianz AG and Bajaj Auto Limited. Characterized by global presence with a local focus and driven by customer orientation to establish high earnings potential and financial strength, Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12th March 2001. The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration (R3) No 116 on 3rd August 2001 to conduct Life Insurance business in India. Bajaj Allianz Life Insurance Product tailored to suit your needs Decentralized organization structure for faster response Wide reach to serve you better a nationwide network of 876 branches Specialized departments for Banc assurance, Corporate Agency and Group Business

Well networked Customer Care Centers (CCCs) with state of art IT systems Highest standard of customer service & simplified claims process in the industry

ANALYSIS of PREMIUM
PLAN PREMIUM Min.
Reliance Automatic Investment Plan 10,000

SUM ASSURED Min.


Annualized premium for 5years or annualized premium for half of the policy term, whichever higher 50% of your total premium 5 x annual premium

Max.
20,000

Max.
No limit

Bajaj allianz unit gain plus gold plan Birla Sun Life Insurance GoldPlus

12,000 10,000

No limit No limit

50% of total premium Will be decide on the basis of

HDFC Standard life insurance term plan

10,000

No limit

10,00,000

maturity years basis of maturity years

ANALYSIS of POLICY TERM


PLAN
Reliance Automatic Investment Plan Bajaj allianz unit gain plus gold plan Birla Sun Life Insurance GoldPlus HDFC Standard life insurance term plan

MINIUM
5 years 10 years 8 years 5 years

MAXIMUM
30 years Up to maximum maturity age (70years) 8 years 30 years

ANALYSIS of AGE
PLAN
Reliance Automatic Investment Plan Bajaj allianz unit gain plus gold plan Birla Sun Life Insurance Gold-Plus HDFC Standard life insurance term plan

AGE AT ENTRY MIN. MAX.


30 days 65 years

AGE AT MATURITY MIN. MAX.


18 years 80 years

0 years 18 years

60 years 70 years

18 years 25 years

70 years 65 years

18 years

60 years

18 years

65 years

(VI)

ABBREVIATIONS

OJT NAV MF EDLI

ON JOB TRAINING NET ASSET VALUE MUTUAL FUNDS EMPLOYEE'S DEPOSIT LINKED INSURANCE SCHEME

MRP RELIANCE MARKET RETURN PLAN GYP - RELIANCE GOLDEN YEARS PLAN GSA - RELIANCE GROUP SUPERANNUATION PLAN GG - RELIANCE GROUP GRATUITY PLAN MGP - RELIANCE MONEY GUARANTEE PLAN AIP - RELIANCE AUTOMATIC INVESTMENT PLAN

(VII) METHODOLOGY

Preparing this report is not been a easy task for me .for preparing it I had adopted the below methodology: (a) Collection of the data:A survey was conducted of the People who want to cover their risk of life. The people working in many institutions were interviewed and information was gathered. Secondly the customers were interviewed randomly about the income tax saving and their preferences. For this purpose a questionnaire was prepared (a)The survey was conducted in the market of: Industrial Zones: Government offices Private Institutions Kota citizens Samples under study: General people were surveyed randomly. Sample size: 300 PEOPLES (b)Analyzing the collected information:This involved converting raw data into useful information. (c) Report finding & suggesting recommendation:This phase marked the accumulation of the data & analyzes part of it. This report with the finding is a formal written document. The analyzed data and personal experience were used to propose the recommendations

I had done the survey work to find out that how many persons are interested in current life insurance plans, how many persons take current life insurance plans, how many want to know about current life insurance, how many have taken Reliance life Insurance policies and how many still satisfied with traditional life Insurance, following are the findings ::

% of persons interested in current Life insurance plan


Interested persons 38% 1 not interested 62% 2

GRAPH NO. 1 Above graph is showing that how many persons take life insurance policies which are shown with the percentage i.e. 38% who are interested and 62% are not interested.

How many persons want to understand about the equity market ?

Persons interested in knowing About current life insurance plant

Not interested 61%

Interested 39% 1 2

GRAPH NO. 2 Above graph is showing that how many persons want to understand the current life Insurance market which is shown in % i.e.61% are interested and 39% are not interested.

How many takes current life Insurance Plans ?

How many takes current life Insurance Plans

Dont take 68%

Takes 32%
1 2

GRAPH NO. 3 Above graph is showing that how many persons How many takes current life Insurance Plans which is shown in % i.e. 32% takes current life insurance plans and 68% dont current life insurance plans.

LIMITATION
The limitations that were faced in conducting the research were as under. 1. Information That I gathered through filling up of a Questionnaire took a bit of time and responds found it wastage of time so I convinced them sometimes. 2. Constraints of resources including time 3. Some of customers were unavailable at the time of the survey. 4. Within these 4 month the service level has improved a lot, so this data might show some errors. 5. Some responds show some bias towards some answers. 6. I had done my project on a sample size of 300 out of the people in Hadoti. So this may show some errors in the finding in the report. 7. All the company is providing different allocation charges according to customers but we cant cut shot our

allocation charges as compare to another life insurance companies.

SUGGESTIONS
Based on the study of the market and interacting with lots of people. I found that people are happy with the RELIANCE LIFE INSURANCE .But there are some areas of improvement so that RELIANCE LIFE INSURANCE can get fast customer growth. FOLLOWING ARE THE SUGGESTIONS 1. Proper communication is indeed to trade the various sales promotion schemes. 2. There should be proper Team is required to open more account. 3. Should open more DSA in small cities. 4. They should be more flexible for allocation concern, to capture more market shares this is much required to they can cut allocation for competitive market in Kota city. 5. One more thing is required for RELIANCE LIFE INSRANCE they take much time activate policy. This Reason makes negative effect on customers mind set up.

REFERENCES
I given to thanks company guide Mr.vivek sharma is very helpful person for given the brief information to me. I also given to thanks faculty guide Dr. RITU SINGH for help me to complete this project. I collect more information from Reliance website in respect of my project. Market is the big source for collecting information to this project.

STRATEGY AND TASK DESIGN First of all I make a task design, which I have to perform Steps are as follows1. 2. 3. 4. 5. Identify the objective Analyze the target customer Collection of data to identify target customers Making a call Evaluation

1.Identify the objective-firstly identify my objective, which is recruitment of advisors & Selling of policy. 2.Analyze the target customer-persons those are interested to invest their money or to get risk cover in bad conditions, I have a list of large no. of plans. & who are unemployed, who wants to gain experience along with their studies, persons who are interested in insurance sector and others who want to earn extra money along with their studies. Mainly my target customers are Students of B.A, BSC, B.COM, 12 Marketing executive Part time workers House wives Socialized person Educated but unemployed person Students of professional courses.

3.Collection of data to identify target customer-collect data through colleges and school records, telephonic survey, door-todoor survey, placement agencies, contacts, relatives who are interested to do this work as a source of extra income. 1. Making a call-After identify my target market then I contact the related person through telephone and through personal meet. Then I give presentation in front of them, I tell them about my company, what are the benefits to work as an advisor, I attract the customers according to their needs like for MBA students I tell them about experience & who want to invest their money, Reliance have really beneficial plans of reliance life insurance policies. Evaluation- Sometimes my call doesnt successful like I make 5 calls and no single call convert into the warm call, then I evaluate what was the shortcomings and what was the reason behind it, and if there is something wrong I will try to rectify it.

STRATEGY FOLLOWED BY ME
1.

Attracting the unemployed pool with the brand name of reliance-persons who are not investing their money in any company it is very beneficial for them that reliance has been come in investment market. With the brand name of Reliance there must not be fear for customers. First I made the customer understand that our plans are very beneficial for them, and then I give plans to them.

. Preexperience-students who are doing professional courses like MBA, ICAW, C.A, and C.S they can get preexperience of insurance sector. When they go for the job it will help them to get good job.

CONCLUSION
1. Now days customer wants to get benefits early and Reliance Life Insurance is giving the minimum term plan. 2. Now Days no one wants to invest lot of money for 5 years and Reliance Life Insurance has maximum limit of Rs. 20,000 in Term plan. 3. Reliance Life Insurance has very low age of entry in term plan that is 30 days and very high age of entry that is 80 years.