Comparative Study of ULIP HDFC Life Project

“COMPARATIVE STUDY OF ULIP HDFC LIFE & ICICI PRUSENTIAL LIFE INSURANCE”

Submitted in partial fulfillment of the requirements for the award of the Degree of Bachelor of Bu !"e A#$!"! %ra%!o" &BBA'
To

Guru Gobind Singh Indraprastha University, Delhi

Guide: NARINDER SHARMA

Submitted by: SHIVAN( SHARMA )*+,)-).+..

BLS INSTITUTE OF TECHNOLO/Y MANA/EMENT
Delhi- Rohtak Road, !-"#, $akhoda, %ahadurgarh -"&'(#)
Ba%ch &,)..0,).1'

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Cer%!f!ca%e
I, *r+ S!I,- . S!-R*-, Roll o+ #/)&#(#")"" 0erti1y that the Summer Training Report 23aper 4ode %%- 5""6 entitled “COMPARATIVE STUDY OF ULIP HDFC LIFE & ICICI PRUSENTIAL LIFE INSURANCE7 is done by me and it is an authenti0 8ork 0arried out by me at HDFC STANDARD LIFE+ To the best o1 my kno8ledge and belie1, the material embodied in this Report has not been submitted earlier 1or the a8ard o1 any Degree or Diploma by any University or Institution+

Signature o1 the Student Date:

4erti1ied that the Summer Training Report 23aper 4ode %%- 5""6 entitled

“COMPARATIVE STUDY OF ULIP HDFC LIFE & ICICI PRUSENTIAL LIFE INSURANCE77 done by *r+ S!I,- . S!-R*-, Roll o+ #/)&#(#")"", has been 0ompleted under my guidan0e and supervision+

Date:

Signature o1 the Guide Guide ame: arinder Sharma Designation: 9a0ulty

Cou"%er !2"e#

Dire0tor

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AC(NO3LED/EMENT
It is ni0e to e:press gratitude and appre0iation to everyone 8ho is involved making this pro;e0t possible+ I don<t have 8ords to thank them all individually 1rom the bottom o1 my heart+ I 8ish to e:press my deep appre0iation to ,ikas .umar 2Senior 4hannel Development *anager6 1or providing an opportunity to 8ork as a trainee in the 0ompany and providing the ne0essary guidan0e, en0ouragement, support and valuable suggestions 8hi0h has been a key to su00ess in this pro;e0t+ I 8ish to do pro;e0t again in 1uture under his guidan0e+ -t the last I 8ould like to e:press my gratitude to the person 8ho have o11ered their valuable guidan0e in 0ompleting this pro;e0t+

Shivank Sharma #/)&#(#")""

5

INDE4
S no Topi0 4erti1i0ate 2s6 -0kno8ledgements Introdu0tion =orking o1 insuran0e business Insuran0e as an investment tool Risk *anagement Strategies - 3ro1ile o1 the 8orld Insuran0e Industry Development o1 Insuran0e in India Insuran0e regulation @ development bill Duties, 3o8ers and 9un0tions o1 IRD- %RIA9 !ISTBRC B9 T!A I
SUR- 4A SA4TBR

3age no & 5 ( )

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!ousing development 1inan0e 0orporation ltd+ Bb;e0tives @ ba0kground BrganiDation -nd *anagement Standard li1e insuran0e 0ompany 2sli06 The partnerships !D94 Standard Ei1e Insuran0e 4ompany Etd+ Bur 3arentage Standard Ei1e Group 2Standard Ei1e pl0 and its subsidiaries6 %oard *embers Unit linked young star plan %ene1its 9rom the plan: Aligibility Bther 4harges

&" && &/ &) &> 5? 5# 5( 5) 5? '"

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I0i0i prudential li1e insuran0e The I4I4I 3rudential Adge - =hat makes us o+ " ,ision @ ,alues 3romoters 9a0t Sheet *anagement pro1ile 3rodu0ts I4I4I 3ru Ei1e Time 3lus 3lan %ene1its in detail 4hapter-&: Bb;e0tives o1 the Study 4hapter-5: *ethodology De1ining Resear0h 3roblem Bb;e0tives Resear0h *ethodology Eimitations o1 the Study: 4hapter-': S=BT -nalysis o1 the 4ompanies Strengths o1 !D94-SEI4 Strengths o1 I4I4I 3rudential Ei1e insuran0e =eaknesses o1 !D94-SEI4 =eaknesses o1 I4I4I 3rudential Ei1e insuran0e Bpportunities o1 !D94-SEI4 Bpportunities o1 I4I4I 3rudential Ei1e insuran0e Threats o1 !D94-SEI4 Threat o1 I4I4I 3rudential Ei1e insuran0e 4hapter-(: -nalysis o1 9inan0ial Reports o1 the 4ompany

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Data analysis and interpretation Respondent 3ro1ile: 4hapter-/: Eessons Eearnt 4on0lusion: %ibliography -ppendi0es

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INTROUCTION L!fe I" ura"ce5 Def!"!%!o"
Ei1e Insuran0e 0ould be de1ined as a poli0y that 8ill pay a spe0i1ied sum to bene1i0iaries upon the death o1 the insured+ It is an agreement that guarantees the payment o1 a stated amount o1 monetary bene1its upon the death o1 the insured+ Ei1e Insuran0e 0ould be said as prote0tion against the death o1 the insured in the 1orm o1 payment to a designated bene1i0iary, typi0ally a 1amily member or business It is basi0ally risk insuran0e intended as prote0tion against the 1inan0ial 0onseFuen0es o1 the death o1 the insured person 8hi0h takes the 1orm o1 payment o1 a previously agreed lump sum or pension to a bene1i0iary, i1 the insured person dies during the term o1 insuran0e+ In the 0ase o1 pure li1e insuran0e, 8ithout any endo8ment insuran0e 0omponent, no payments are due i1 the insured person survives the term o1 insuran0e+ In big terms Ei1e Insuran0e is a 0ontra0t agreement bet8een the 0erti1i0ate holder and the insuran0e 0ompany, providing a spe0i1ied sum to bene1i0iaries upon the death o1 the insured+ It is a 0overage that pays out a set amount o1 money to spe0i1ied bene1i0iaries upon the death o1 the individual 8ho is insured+ It is a poli0y that 8ill pay a spe0i1ied sum to bene1i0iaries upon the death o1 the insured+ There are many types o1 li1e insuran0e, in0luding 8hole li1e, term li1e, universal li1e, et0+ It is an insuran0e relating to a risk depending on human li1e+ This in0ludes 0ontra0ts providing payment on the insured personGs death, endo8ments providing payment either on survival to a spe0i1ied date or on earlier death and annuities 8hi0h are paid throughout the annuitantGs li1etime but 0ease on death+ -00ording to an arti0le on site li1e-line+org Ei1e insuran0e is the 1oundation o1 a sound 1inan0ial plan+ It provides 1inan0ial se0urity 1or your 1amily by prote0ting your 1inan0ial resour0es, su0h as your present and 1uture in0ome, against the un0ertainties o1 li1e+

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*ore spe0i1i0ally, li1e insuran0e provides 0ash to the 1amily a1ter death+ This 0ash 2the death bene1it6 repla0es the in0ome one 8ould have provided and 0an meet many important 1inan0ial needs+ It 0an help pay the mortgage, run the household, send kids to 0ollege, and ensure that dependents are not burdened 8ith debt+ The pro0eeds 1rom a li1e insuran0e poli0y 0ould mean that the 1amily 8onGt have to sell assets to pay outstanding bills or ta:es+ -nd also that there is no 1ederal in0ome ta: on li1e insuran0e bene1its+ *ost people 8ith dependents need li1e insuran0e+ =hile thereGs no substitute 1or evaluating spe0i1i0 situation, one rule o1 thumb is to buy li1e insuran0e eFuivalent to 1ive to ten times ones annual gross in0ome+ To determine ho8 mu0h, i1 any, li1e insuran0e one needs, then start by gathering all personal 1inan0ial in1ormation and estimating 8hat the 1amily 8ill need a1ter one is gone, in0luding ongoing e:penses 2su0h as day 0are, tuition, or retirement6 and immediate e:penses at the time o1 death 2like medi0al bills, burial 0osts, and estate ta:es6+ The 1amily also may need 1unds to help them read;ust: perhaps to 1inan0e a move, or pay e:penses 8hile ;ob hunting+ 4hoosing a li1e insuran0e produ0t is an important de0ision, but it 0an be 0ompli0ated+ -s 8ith any ma;or pur0hase, it is important that one should understand his or her 1amilyGs needs+

There are $a"6 %67e of L!fe I" ura"ce 8u% %he6 2e"erall6 fall !"%o %9o ca%e2or!e 5 "+ Term Insuran0e &+ 3ermanent Insuran0e "+ Ter$ I" ura"ce:
It provides prote0tion 1or a spe0i1i0 period o1 time+ It pays a bene1it only i1 one dies during the term+ So me term insuran0e poli0ies 0an be rene8ed 8hen you rea0h the end o1 the term, 8hi0h 0an be 1rom one to 5# years+ The premium rates in0rease at ea0h rene8al date+ *any poli0ies reFuire that you present eviden0e o1 insurability at rene8al to Fuali1y 1or the lo8est rates+ The 1ollo8ing points 0an help you determine i1 term insuran0e best suits your needs+

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A#:a"%a2e

D! a#:a"%a2e

H Initial premiums generally are lo8er than those 1or H 3remiums in0rease as you gro8 older+ permanent insuran0e, allo8ing you to buy higher levels o1 0overage at a younger age 8hen the need 1or H 4overage may terminate at the end o1 the term or prote0tion o1ten is greatest+ be0ome too e:pensive to 0ontinue+ H It<s good 1or 0overing needs that 8ill disappear in time, su0h as mortgages or 0ar loans+ H The poli0y generally doesn<t o11er 0ash value or paidup insuran0e+

3OR(IN/ OF INSURANCE BUSINESS
Insuran0e 0ompanies re0eive premium 1rom a large number o1 people buying insuran0e+ The more 0ustomers an insurer has, the lo8er the premiums 0an be, and the less likely that insurer is to take a loss that 8ipes everyone out+ Insuran0e is 1undamental to every aspe0t o1 modern li1e and 0ommer0e+

THE IMPORTANT FEATURES OF INSURANCE ARE5
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State insuran0e departments regulate the type o1 investments 0ompanies are permitted to makeI

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Investment pro1iles o1 0ompanies di11er depending on 8hat type o1 insuran0e they under8riteI

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Aa0h state en1or0es la8s to prote0t 0onsumers against un1air dis0rimination in the provision o1 insuran0eI

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4onsumers 8ho do not Fuali1y 1or property insuran0e in the private market may obtain it through insuran0e industry operated plansI

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The insuran0e industry does not bene1it 1rom 1ederal deposit insuran0e+ Insuran0e 0ompanies pay 1or insolven0ies in the industry through a system o1 state Guaranty 9unds+

INSURANCE AS AN INVESTMENT TOOL 5

Insuran0e invests in the e0onomy+ Insuran0e provides 1unds to help businesses gro8 and 0reate ;obs+ 3remium 1unds that are not immediately needed are lent to government and businesses+ Eending to muni0ipalities, in the 1orm o1 bonds, provides lo0al governments a0ross the United States 8ith the means to build, maintain and repair muni0ipal in1rastru0ture J s0hools, roads, bridges, se8ers, airports++ 9unds are also lent to businesses, providing them 8ith the means to pur0hase buildings, eFuipment and supplies+ -long 8ith housing interests, the insuran0e industry is probably the most a0tive voluntary investor in lo8- and moderate-in0ome 0ommunities, parti0ularly those lo0ated in urban areas+ 4ompared to less-developed 0ountries, the developed 0ountries en;oy a higher standard o1 living, partly be0ause these 1unds are available 1rom insuran0e 0ompanies+

Su77or% %he 7ro:! !o" of cre#!%

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Insuran0e provides support 1or 0redit+ Aven though mortgage lenders approve an appli0ant 1or a home loan based on the appli0ant<s 0redit 8orthiness, most lenders also reFuire that the d8elling be 0overed by homeo8ner<s insuran0e+ Eike8ise, a business applying 1or a loan to pur0hase inventory might be reFuired to sho8 that the inventory is insured be1ore the loan is granted+

Re#uce a";!e%6
Insuran0e also redu0es an:iety be0ause the insured kno8s insuran0e 8ill provide indemni1i0ation i1 a 0overed loss o00urs+ %y shouldering the burden o1 une:pe0ted or 0atastrophi0 losses, insuran0e helps businesses avoid bankrupt0y and keeps 8orkers employed and lo0al e0onomies healthy+ It also 0ontributes to a stable so0iety 8here people 0an plan 1or the 1uture 8ithout an undue 1ear o1 0atastrophi0 loss+

I" ura"ce a"# R! < Ma"a2e$e"% Pla""!"2
Insuran0e and Risk *anagement 3lanning is the pro0ess o1 identi1ying the sour0e and e:tent o1 an individual<s risk o1 1inan0ial, physi0al, and personal loss, and developing strategies to manage e:posure to risk and minimiDe the probability and amount o1 potential loss+

I" ura"ce a"# R! < Ma"a2e$e"% Pla""!"2 !" %he Co"%e;% of Per o"al F!"a"c!al Pla""!"2
In personal 1inan0ial planning 23936, risk management and insuran0e planning results in 0lients 8ho are a8are o1 the range o1 signi1i0ant risks to their 1inan0ial 8ellbeing and 8ho are adeFuately and properly prote0ted 1rom the loss that 0ould result 1rom those risks+ 3eriodi0 revie8s help 0lients understand that li1e 0hanges, su0h as a ;ob 0hange or divor0e, a11e0t risk management and insuran0e 0overage+

R! < Ma"a2e$e"% S%ra%e2!e

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Risk *anagement is mu0h broader than the pur0hase o1 insuran0e poli0ies, involving strategies su0h as:

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R! < a:o!#a"ce—involving the elimination o1 a threatened 1inan0ial loss+ R! < re#uc%!o"Jinvolving strategies to minimiDe the amount o1 loss i1 a loss
does o00ur+

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R! < %ra" ferJsharing the burden o1 loss+ This strategy in0ludes the use o1
insuran0e to trans1er some o1 the burden o1 loss to the third party insurer+

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R! < re%e"%!o"Jinvolving either the a00eptan0e o1 some o1 the e0onomi0
burden o1 a loss, or 0ontinuing to parti0ipate in a0tivities 8ith risks that 0annot be trans1erred or shared+

I" ura"ce a a R! < Ma"a2e$e"% S%ra%e26
Insuran0e is ;ust one aspe0tJbut a very 0riti0al aspe0tJo1 risk management planning+ - key aspe0t o1 insuran0e planning understands 8hat is available 1rom insuran0e 0ompanies to assist in o11setting the e0onomi0 losses asso0iated 8ith a parti0ular risk+ 9rom this point you 0an assist your 0lients to inventory 8hat risks are to be prote0ted, identi1y gaps in 0overage, evaluate alternative insuran0e poli0ies, and sele0t and a0Fuire the appropriate poli0ies+

A Prof!le of %he 9orl# I" ura"ce I"#u %r6
The United States is the 8orld leader in insuran0e 8ith 5" per0ent o1 the premium volume in &##(+ $apan is se0ond 8ith ;ust under a Fuarter o1 the 8orld<s volume+ Germany, the U., 9ran0e, South .orea and Italy 0ombined, hold another Fuarter o1 the premium volume+ The insuran0e industry is a ma;or 0ontributor to the U+S+ e0onomy+ Government authorities in the various states regulate the operations o1 ),?## domesti0 insuran0e 0ompanies+ -bout 5,5## 0ompanies sell some 1orm o1

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propertyK0asualty insuran0e+ -ltogether, the insuran0e industry provides &+5 million ;obs+ =ith largest number o1 li1e insuran0e poli0ies in 1or0e in the 8orld, Insuran0e happens to be a mega opportunity in India+ It<s a business gro8ing at the rate o1 "(-&# per 0ent annually and presently is o1 the order o1 Rs '(# billion+ Together 8ith banking servi0es, it adds about ) per 0ent to the 0ountry<s GD3+ Gross premium 0olle0tion is nearly & per 0ent o1 GD3 and 1unds available 8ith EI4 1or investments are > per 0ent o1 GD3+ Cet, nearly ># per 0ent o1 Indian population is 8ithout li1e insuran0e 0over 8hile health insuran0e and non-li1e insuran0e 0ontinues to be belo8 international standards+ -nd this part o1 the population is also sub;e0t to 8eak so0ial se0urity and pension systems 8ith hardly any old age in0ome se0urity+ This itsel1 is an indi0ator that gro8th potential 1or the insuran0e se0tor is immense+

Ho9 I" ura"ce Co$7a"!e 3or<
Unlike banks, insuran0e 0ompanies are 0hartered to provide insuran0e+ They generally do not e:tend 0redit and are o1ten pre0luded 1rom doing so by la8 and regulation+ %e0ause propertyK0asualty poli0ies are short-term L usually one-year L state insuran0e la8s reFuire most propertyK0asualty investments to be short-term and highly liFuid+ Eegally permissible investments in0lude 0ash, mutual 1unds, Treasury bills and notes, mortgage-ba0ked se0urities, spe0i1ied types o1 debt se0urities, and pre1erred sto0k+ Generally, property and 0asualty insurers 0annot invest in real estate, other than their o8n buildings and property+ To illustrate the short-term nature o1 propertyK0asualty investments, 0onsider that in an average year, out o1 M"## paid in homeo8ners< premiums, the industry pays out M)' in 0laims+ 5 The remainder goes to agent 0ommissions, administrative e:penses, operating 0osts, and, in good years, poli0yholder prote0tion 1unds ' 8hi0h prote0t against 1uture 0atastrophi0 loss+ =hen 0atastrophes strike, su0h as 1ires, hurri0anes, or earthFuakes a greater per0entage o1 premiums 8ill be paid out in

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0laims+ Bver time, 0ustomers re0eive ba0k the vast ma;ority o1 premiums in 0laims payments+ The billions o1 dollars paid by the industry in 0laims is itsel1 NreinvestmentN in the lo0al 0ommunity 8hen disaster strikes+ This reinvestment not only bene1its poli0yholders, it bene1its the people 8ho rebuild the stru0ture a1ter the tornado, 1i: the 0ar damaged by hail or sell the applian0es and 0abinets needed to repair the kit0hen damaged by 1ire+ Ei1e insuran0e 0ompanies primarily issue li1e insuran0e poli0ies and annuities+ 3oli0yholder premiums are invested in 0omplian0e 8ith state insuran0e la8s 1or the bene1it o1 poli0yholders to ensure that the 0ompany 0an meet its obligations under the terms o1 the poli0ies+ -s they do 1or propertyK0asualty 0ompanies, state insuran0e la8s establish the types and amounts o1 permissible investments 1or li1e 0ompanies+ Eegally permissible investments in0lude 0ash, mutual 1unds, Treasury bills and notes, mortgage-ba0ked se0urities, 0orporate sto0k and other types o1 eFuity and debt se0urities, loans, and real estate+ Re1le0ting the long-term nature o1 a li1e insuran0e poli0y, li1e insuran0e 0ompanies generally are permitted longer-term investments than those permitted 1or propertyK0asualty 0ompanies+

Ho9 I" ura"ce ! Re2ula%e#
Insuran0e regulation is 0ondu0ted by ea0h state through its department o1 insuran0e, run by a 0ommissioner or dire0tor 8ho may be ele0ted, or appointed by the governor+ Insuran0e departments are 0harged 8ith regulating the sa1ety and soundness o1 insuran0e 0ompanies and 0onsumer prote0tion+ 3rimarily the home state regulator, 8ho leads sa1ety and soundness e:aminations and revie8s investments and the adeFua0y o1 poli0y reserves, 0ondu0ts sa1ety and soundness regulation+ Aa0h state regulator must li0ense any 0ompany that 8ants to do business in his or her state, and revie8 and approve rates and poli0y 1orms to be used by any li0ensed 0ompany+ Unlike banks and thri1ts, most insuran0e 0ompanies have no geographi0 0ommunity+ Insuran0e 0ompanies must be Ndomi0iledN in a single state and are primarily regulated by the home state regulator+ They must be li0ensed in every state in 8hi0h they do business+ !o8ever, there may be no 0onne0tion

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bet8een a 0ompany<s physi0al lo0ation and its home state or other states in 8hi0h it is li0ensed+ 9or e:ample, an insuran0e 0ompany may be domi0iled in Illinois, have its headFuarters in 4ali1ornia, and be li0ensed 1or business in '# states+ In the 0ase o1 automobile insuran0e, the 0ompany likely 8ould have 0laims o11i0es and perhaps agents in ea0h o1 the states in 8hi0h it is li0ensed+ In the 0ase o1 more spe0ialiDed 0overage su0h as dire0tor<s and o11i0er<s liability insuran0e, a 0ompany may not have a physi0al presen0e in any o1 its li0ensed states+ In a 0ompetitive environment, some insuran0e 0ompany 1ailures 8ill inevitably o00ur+ !o8ever, unlike banks, thri1ts and 0redit unions, the insuran0e industry does not have a government-ba0ked 1und to handle insolven0y+ Instead, ea0h state has a li1e insuran0e guaranty 1und and a propertyK0asualty insuran0e 0ompany guaranty 1und+ The guaranty 1unds ensure that the insolvent 0ompany is retired 1rom the market in an orderly manner that gives ma:imum prote0tion to the publi0+

De:elo7$e"% of I" ura"ce !" I"#!a
- thriving insuran0e se0tor is o1 vital importan0e to every modern e0onomy+ 9irst be0ause it en0ourages the savings habit, se0ond be0ause it provides a sa1ety net to rural and urban enterprises and produ0tive individuals+ -nd perhaps most importantly it generates long-term investible 1unds 1or in1rastru0ture building+ The nature o1 the insuran0e business is su0h that the 0ash in1lo8 o1 insuran0e 0ompanies is 0onstant 8hile the payout is de1erred and 0ontingen0y related+ This 0hara0teristi0 o1 their business makes insuran0e 0ompanies the biggest investors in long-gestation in1rastru0ture development pro;e0ts in all developed and aspiring nations+ This is the most 0ompelling reason 8hy private se0tor 2and 1oreign6 0ompanies 8hi0h 8ill spread the insuran0e habit in the so0ietal and 0onsumer interest are urgently reFuired in this vital se0tor o1 the e0onomy+ =ith the nationGs in1rastru0ture in a state o1 imminent 0ollapse, India 0ouldnGt have a11orded to be lumbered 8ith sub-optimally per1orming monopoly insuran0e 0ompanies and there1ore the passage o1 the Insuran0e Regulatory @ Development -uthority %ill on "(

De0ember &, "??? heralds an era o1 0autious optimism 8here stakes are high 1or all parties 0on0erned+ 9or the Govt+ o1 India, 9oreign Dire0t Investment 29DI6 must pour in as anti0ipatedI 1or 1oreign insurers, investments must start yielding returns and 1or the domesti0 insuran0e industry - their market penetration should remain inta0t+ Bn the 1ringe, the 0ustomer is pondering 8hether all the hype 0reated on liberaliDation 8ill a0tually bene1it him+ The IRD- %ill provides 1or the establishment o1 an authority to prote0t the interests o1 the holders o1 insuran0e poli0ies, to regulate, promote and insure orderly gro8th o1 the insuran0e industry and amend the Insuran0e -0t, "?5>, the Ei1e Insuran0e -0t, "?(/ and the General Insuran0e %usiness 2 ationaliDation6 -0t, "?)&+ The bill allo8s 1oreign eFuity stake in domesti0 private insuran0e 0ompanies to a ma:imum o1 &/ per 0ent o1 the total paid-up 0apital and seeks to provide statutory status to the insuran0e regulator+ %e1ore privatiDation, insuran0e business in India 8as pegged at M /+/ %illion 8hereas industry leaders e:pe0ted at that time that privatiDation 8ill in0rease it to M '# %illion 8ithin ne:t 5-( years+

INSURANCE RE/ULATION & DEVELOPMENT BILL
Bn B0t+ &"st, "??? the govt+ 9inally o11ered IRD- bill 1or the 0onsideration o1 the ne8 parliament+ The ne8 bill kno8s 0alled insuran0e Regulatory -uthority %ill "???+ %ills to provide 1or establishment o1 an authority to prote0t the interest o1 holders o1 insuran0e poli0es and to regulate promote and insure orderly gro8th o1 the industry+

IRDA
-s per the se0tion ' o1 IRD- -0tG "???, Insuran0e Regulatory and Development -uthority 2IRD-, 8hi0h 8as 0onstituted by an a0t o1 parliament6 spe0i1y the 0omposition o1 -uthority+

The -uthority is a ten-member team 0onsisting o1
2a6 2b6 206 a 4hairmanI 1ive 8hole-time membersI 1our part-time members,

2all appointed by the Government o1 India6

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Du%!e = Po9er a"# Fu"c%!o" of IRDA
Se0tion "' o1 IRD- -0t, "??? lays do8n the duties, po8ers and 1un0tions o1 IRD-+ 2"6 Sub;e0t to the provisions o1 this -0t and any other la8 1or the time being in 1or0e, the -uthority shall have the duty to regulate, promote and ensure orderly gro8th o1 the insuran0e business and re-insuran0e business+ 2&6 =ithout pre;udi0e to the generality o1 the provisions 0ontained in sub-se0tion 2"6, the po8ers and 1un0tions o1 the -uthority shall in0lude, 2a6 Issue to the appli0ant a 0erti1i0ate o1 registration, rene8, modi1y, 8ithdra8, suspend or 0an0el su0h registrationI 2b6 3rote0tion o1 the interests o1 the poli0y holders in matters 0on0erning assigning o1 poli0y, nomination by poli0y holders, insurable interest, settlement o1 insuran0e 0laim, surrender value o1 poli0y and other terms and 0onditions o1 0ontra0ts o1 insuran0eI 206 Spe0i1ying reFuisite Fuali1i0ations, 0ode o1 0ondu0t and pra0ti0al training 1or intermediary or insuran0e intermediaries and agentsI 2d6 Spe0i1ying the 0ode o1 0ondu0t 1or surveyors and loss assessorsI 2e6 3romoting e11i0ien0y in the 0ondu0t o1 insuran0e businessI 216 3romoting and regulating pro1essional organiDations 0onne0ted 8ith the insuran0e and re-insuran0e businessI 2g6 Eevying 1ees and other 0harges 1or 0arrying out the purposes o1 this -0tI 2h6 4alling 1or in1ormation 1rom, undertaking inspe0tion o1, 0ondu0ting enFuiries and investigations in0luding audit o1 the insurers, intermediaries, insuran0e intermediaries and other organiDations 0onne0ted 8ith the insuran0e businessI

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2i6 4ontrol and regulation o1 the rates, advantages, terms and 0onditions that may be o11ered by insurers in respe0t o1 general insuran0e business not so 0ontrolled and regulated by the Tari11 -dvisory 4ommittee under se0tion /'U o1 the Insuran0e -0t, "?5> 2' o1 "?5>6I 2;6 Spe0i1ying the 1orm and manner in 8hi0h books o1 a00ount shall be maintained and statement o1 a00ounts shall be rendered by insurers and other insuran0e intermediariesI 2k6 Regulating investment o1 1unds by insuran0e 0ompaniesI 2l6 Regulating maintenan0e o1 margin o1 solven0yI 2m6-d;udi0ation o1 disputes bet8een insurers and intermediaries or insuran0e intermediariesI 2n6 Supervising the 1un0tioning o1 the Tari11 -dvisory 4ommitteeI 2o6 Spe0i1ying the per0entage o1 premium in0ome o1 the insurer to 1inan0e s0hemes 1or promoting and regulating pro1essional organiDations re1erred to in 0lause 216I 2p6 Spe0i1ying the per0entage o1 li1e insuran0e business and general insuran0e business to be undertaken by the insurer in the rural or so0ial se0torI and 2F6 A:er0ising su0h other po8ers as may be pres0ribed+

">

HISTORY A BRIEF HISTORY OF THE INSURANCE SECTOR

The business o1 li1e insuran0e in India in its e:isting 1orm started in India in the year ">"> 8ith the establishment o1 the Briental Ei1e Insuran0e 4ompany in 4al0utta+ Some o1 the important milestones in the li1e insuran0e business in India are: .>.,: The Indian Ei1e -ssuran0e 4ompanies -0t ena0ted as the 1irst statute to regulate the li1e insuran0e business+ .>,?: The Indian Insuran0e 4ompanies -0t ena0ted to enable the government to 0olle0t statisti0al in1ormation about both li1e and non-li1e insuran0e businesses+ .>@?: Aarlier legislation 0onsolidated and amended to by the Insuran0e -0t 8ith the ob;e0tive o1 prote0ting the interests o1 the insuring publi0+ .>-*: &'( Indian and 1oreign insurers and provident so0ieties taken over by the 0entral government and nationaliDed+ EI4 1ormed by an -0t o1 3arliament, viD+ EI4 -0t, "?(/, 8ith a 0apital 0ontribution o1 Rs+ ( 0rore 1rom the Government o1 India+ The General insuran0e business in India, on the other hand, 0an tra0e its roots to the Triton Insuran0e 4ompany Etd+, the 1irst general insuran0e 0ompany established in the year ">(# in 4al0utta by the %ritish+ Some o1 the important milestones in the general insuran0e business in India are: .>)+: The Indian *er0antile Insuran0e Etd+ set up, the 1irst 0ompany to transa0t all 4lasses o1 general insuran0e business+

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.>-+: General Insuran0e 4oun0il, a 8ing o1 the Insuran0e -sso0iation o1 India, 1rames a 0ode o1 0ondu0t 1or ensuring 1air 0ondu0t and sound business pra0ti0es+ .>*?: The Insuran0e -0t amended to regulate investments and set minimum solven0y margins and the Tari11 -dvisory 4ommittee set up+ .>+,: The General Insuran0e %usiness 2 ationaliDation6 -0t, "?)& nationaliDed the general insuran0e business in India 8ith e11e0t 1rom "st $anuary "?)5+

Prof!le

HOUSIN/ DEVELOPMENT FINANCE CORPORATION LTDA
9ounded in "?)), !D94 is today the market leader in housing 1inan0e in India and has e:tended 1inan0ial assistan0e to more than "( la0ks homes+ !D94 has more than ""# o11i0es in Dubai and 5 more servi0es asso0iates< insuran0e .u8ait, Oatar and Sultanate o1 Bman+ !D94<s assets base amount to over "(,### 0rore+ Its 1inan0ial strength is re1le0ted in highest sa1ety rating o1 “9---7 and “*---7 a8arded by 4RISIE and I4R-- t8o o1 India<s leading 0redit rating agen0y respe0tively, 1or the last / years 0onse0utively, it has a depositor base o1 over "" la0ks 0ustomer and a deposit agents 1or0e o1 over '/,### o1 the total deposit, )5P are sour0ed 1rom individual and trust depositories, 8hi0h demonstrates the tremendous 0on1iden0e that retail investors have insuran0e the 0ompany+

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!D94- 3romoted 0ompanies have emerged to meet the investors and 0ustomers needs+ !D94 bank 1or 0ommer0ial banking, !D94 mutual 1und produ0ts, to be 1ollo8ed very shortly by !D94 Standard Ei1e Insuran0e 4ompany 1or the li1e enduran0e and pension produ0ts+ %eing an institution that is strongly 0ommitted to the highest o1 Fuality and e:0ellen0e, !D94 has 8on several a00olades in the past 1e8 years+ Bne su0h a8ard is the QRamakrishna %a;a; ational Ouality -8ard7 1or the year "???+ This a8ard 8as instituted to -8ard Re0ognition to Indian 4ompanies 1or business e:0ellen0e and Fuality a0hievement+ !D94 is the only 0ompany so 1ar to re0eive this a8ard in the servi0e 0ategory+ !elping Indians e:perien0e the ;oy o1 home o8nership+ The road to su00ess is a tough and 0hallenging ;ourney in the dark 8here only obsta0les light the path+ !o8ever, su00ess on a terrain like this is not 8ithout a solution+ -s 8e 1ound out nearly three de0ades ago, in "?)), the solution 1or su00ess is 0ustomer satis1a0tion+ -ll you need is the 0ourage to innovate, the skill to understand your 0lientele and the desire to give them your best Today, nearly three million satis1ied 0ustomers 8hose dream 8e helped realiDe, stand testimony to our su00ess+ Bur ob;e0tive, 1rom the beginning, has been to enhan0e residential housing sto0k and promote home o8nership+ o8, our o11erings range 1rom hassle-1ree home loans and deposit produ0ts, to property related servi0es and a training 1a0ility+ =e also o11er spe0ialiDed 1inan0ial servi0es to our 0ustomer base through partnerships 8ith some o1 the best 1inan0ial institutions 8orld8ide+

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O8Bec%!:e & 8ac<2rou"#
Hou !"2 F!"a"ce Sec%or -gainst the milieu o1 rapid urbaniDation and a 0hanging so0io-e0onomi0 s0enario, the demand 1or housing has gro8n e:plosively+ The importan0e o1 the housing se0tor in the e0onomy 0an be illustrated by a 1e8 key statisti0s+ -00ording to the ational %uilding BrganiDation 2 %B6, the total demand 1or housing is estimated at & million units per year and the total housing short1all is estimated to be "?+' million units, o1 8hi0h "&+)/ million units is 1rom rural areas and /+/' million units 1rom urban areas+ The housing industry is the se0ond largest employment generator in the 0ountry+ It is estimated that the budgeted & million units 8ould lead to the 0reation o1 an additional "# million man-years o1 dire0t employment and another "( million man-years o1 indire0t employment+ !aving identi1ied housing as a priority area in the inth 9ive Cear 3lan 2"??)-&##&6, the ational !ousing 3oli0y has envisaged an investment target o1 Rs+ ",(## billion 1or this se0tor+ In order to a0hieve this investment target, the Government needs to make lo8 0ost 1unds easily available and en1or0e legal and regulatory re1orms+ Bac<2rou"# !D94 8as in0orporated in "?)) 8ith the primary ob;e0tive o1 meeting a so0ial need L that o1 promoting home o8nership by providing long-term 1inan0e to households 1or their housing needs+ !D94 8as promoted 8ith an initial share 0apital o1 Rs+ "## million+

Bu !"e

O8Bec%!:e The primary ob;e0tive o1 !D94 is to enhan0e residential housing sto0k in the

0ountry through the provision o1 housing 1inan0e in a systemati0 and pro1essional manner, and to promote home o8nership+ -nother ob;e0tive is to in0rease the 1lo8 o1

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resour0es to the housing se0tor by integrating the housing 1inan0e se0tor 8ith the overall domesti0 1inan0ial markets++ Or2a"!Ca%!o"al /oal !D94<s main goals are to a6 develop 0lose relationships 8ith individual households, b6 maintain its position as the premier housing 1inan0e institution in the 0ountry, 06 trans1orm ideas into viable and 0reative solutions, d6 provide 0onsistently high returns to shareholders, and e6 to gro8 through diversi1i0ation by leveraging o11 the e:isting 0lient base+

Or2a"!Ca%!o" A"# Ma"a2e$e"%
!D94 is a pro1essionally managed organiDation 8ith a board o1 dire0tors 0onsisting o1 eminent persons 8ho represent various 1ields in0luding 1inan0e, ta:ation, 0onstru0tion and urban poli0y @ development+ The board primarily 1o0uses on strategy 1ormulation, poli0y and 0ontrol, designed to deliver in0reasing value to shareholders+ Boar# of D!rec%or *r+ Deepak S 3arekh - 4hairman *r+ .eshub *ahindra - ,i0e 4hairman *r+ .eki * *istry - *anaging Dire0tor *s+ Renu S+ .arnad - A:e0utive Dire0tor *r+ Shirish % 3atel *r+ % S *ehta *r+ D * Sukthankar *r+ D Ghosh Dr+ S - Dave *r+ S ,enkitaramanan Dr+ Ram S Tarne;a *r+ * *un;ee Dr+ ,i;ay S+ .elkar *r+ D * Sat8alekar

!D94 has a sta11 strength o1 "5>> 2as on 5"st *ar0h, &##)6, 8hi0h in0ludes pro1essionals 1rom the 1ields o1 1inan0e, la8, a00ountan0y, engineering and marketing+

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STANDARD LIFE INSURANCE COMPANY &SLIC'
The Standard Ei1e -ssuran0e 4ompany 2NStandard Ei1eN6 8as established in ">&( and the 1irst Standard Ei1e -ssuran0e 4ompany -0t 8as passed by 3arliament in ">5&+ Standard Ei1e 8as rein0orporated as a mutual assuran0e 0ompany in "?&(+ The Standard Ei1e group originally operated only through bran0hes or agen0ies o1 the mutual 0ompany in the United .ingdom and 0ertain other 0ountries+ Its 4anadian bran0h 8as 1ounded in ">55 and its Irish operations in ">5>+ This largely remained the stru0ture o1 the group until "??/, 8hen it opened a bran0h in 9rank1urt, Germany 8ith the aim o1 e:porting its U. li1e assuran0e and pensions operating model to 0apitaliDe on the opportunities presented by A4 Dire0tive ?&K?/KAA4 2the “Third Ei1e &'

Dire0tive76 and o11er a produ0t range in that market 8ith 1eatures 8hi0h lo0al providers 8ere unable to o11er+ In the "??#s, the group also sought to diversi1y its operations into areas 8hi0h 0omplemented its 0ore li1e assuran0e and pensions business, 8ith the intention o1 positioning itsel1 as a broad range 1inan0ial servi0es provider+ Ba"<!"2= Heal%hcare & I":e %$e"% The group set up Standard Ei1e %ank, its U. mortgage and retail savings banking subsidiary, in "??> and Standard Ei1e Investments, 8hi0h had previously been the inhouse investment management unit o1 the group<s li1e assuran0e and pensions business, 8as separated into a distin0t legal entity in the same year, 8ith the aim o1 establishing it as an independent investment management business providing servi0es to both the group and third party retail and institutional 0lients+ The group a0Fuired 3rime !ealth Eimited 2subseFuently renamed Standard Ei1e !ealth0are6 in the United .ingdom in &###+ Standard Ei1e !ealth0are e:panded in *ar0h &##/ 8ith the a0Fuisition o1 the 3*I business o1 9irst -ssist+

S%a"#ar# L!fe A !a L!$!%e#DEo!"% :e"%ure F The group<s !ong .ong subsidiary, Standard Ei1e -sia Eimited 2“SE -sia76, 8as in0orporated in "??? as a ;oint venture and be0ame a 8holly-o8ned subsidiary o1 Standard Ei1e in &##&+ The group<s operations in !ong .ong 8ere established to give the group a presen0e in the 9ar Aast 1rom 8hi0h it 0ould e:pand into 4hina+ The group<s ;oint ventures in India 8ith !ousing Development 9inan0e 4orporation Eimited 2“!D9476 8ere in0orporated in &### 2in relation to the li1e assuran0e and pensions ;oint venture6 and &##5 2in relation to the investment management ;oint venture6+ The group<s ;oint venture in 4hina 8ith Tian;in A0onomi0 Development -rea General 4ompany 2“TAD-76 be0ame operational in &##5+ S%a"#ar# L!fe I"%er"a%!o"al L!$!%e# F

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The group also in0orporated Standard Ei1e International Eimited 2“SEIE76 in &##( 1or the purposes o1 providing the group 8ith an o11shore vehi0le, based in Ireland, through 8hi0h it 0ould sell ta:-e11i0ient investment produ0ts into the United .ingdom+ Sales o1 these produ0ts 0ommen0ed in &##/+ Ser:!ce co$7a"6 F 9ollo8ing the group<s strategi0 revie8 in &##', the group established a servi0e 0ompany stru0ture 1or the provision o1 0entral 0orporate servi0es to the group<s business units+ Standard Ei1e Amployee Servi0es Eimited 2“SEASE76 supplies a 8ide range o1 0entral servi0es to the rest o1 the group, in0luding IT, 1a0ilities, legal and human resour0es servi0es, and employs sta11 8orking in the group<s U. and Irish operations 2other than SEI, SE% and SE!, 8hi0h employ their sta11 dire0tly6+ This servi0e 0ompany stru0ture 8as 0reated to enable Standard Ei1e to 0omply 8ith regulatory restri0tions on the provision o1 non-insuran0e servi0es and to e:ploit group-8ide synergies+

S%ruc%ure of S%a"#ar# L!fe 7lc The 1ollo8ing is a simpli1ied stru0ture diagram Standard Ei1e pl0 o8ns all o1 the businesses and 0ompanies in the group+ Standard Ei1e pl0 is a holding 0ompany 8hi0h is o8ned by its shareholders 2in0luding those Aligible *embers 8ho re0eived and retained shares re0eived as a result o1 demutualiDation6+

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Al%er"a%!:e %e;%ual e;7la"a%!o"0 S%a"#ar# L!fe 7lc %ruc%ure

Underneath Standard Ei1e pl0 are Standard Ei1e !ealth0are Eimited, Standard Ei1e Investments 2!oldings6 Eimited 2and underneath it, Standard Ei1e Investments Eimited6, Standard Ei1e Bversea !oldings Eimited, Standard Ei1e Amployee Servi0es Eimited, Standard Ei1e -ssuran0e Eimited and Standard Ei1eGs $oint ,enture interest in 4hina

&>

Underneath Standard Ei1e Bversea !oldings are Standard Ei1e -sia Eimited and Standard Ei1e 9inan0ial In0 2and underneath it, The Standard Ei1e -ssuran0e 4ompany o1 4anada6+ Underneath Standard Ei1e -ssuran0e Eimited are Standard Ei1e Dire0t Eimited, Standard Ei1e Savings Eimited, Standard Ei1e Dire0t Eimited, Standard Ei1e Trustee 4ompany Eimited, Standard Ei1e %ank Eimited, Standard Ei1e 3ensions 9unds Eimited, Standard Ei1e International Eimited and The Standard Ei1e -ssuran0e 4ompany &##/, 8hi0h 0urrently holds Standard Ei1eGs $oint ,enture interests in India+

THE PARTNERSHIPS
!D94 and Standard Ei1e 0ommen0ed dis0ussions about possible ;oint venture, to enter the li1e insuran0e market, in $an+ "??(+ It 8as 0lear 1rom the outset that both 0ompanies shared similar values and bene1its and a strong relationship Fui0kly 1ormed+ In B0t+"??( the 0ompanies signed a 5 year ;oint venture agreement+ -round this time Standard Ei1e pur0hased a (P stake in !D94+ 9urther strengthening the relationship+ - small pro;e0t term 8as set up in U. and India and set about preparatory 8ork+ -mong other things, the team 0ondu0ted market resear0h, looked at possible in1ormation te0hnology, do0umented high level business pro0ess maps and set about preparing the 1irst pro;e0t plan+ The ne:t three years 8ere 1illed un0ertainty, due to 0hange in insuran0e Govt+ and both ongoing delays in getting the insuran0e bill passed in parliament+ Despite this both 0ompanies remained 1irmly 0ommitted to venture+ In B0t+"??>, the ;oint venture agreement 8as removed and additional resour0es made available+ -round this time Standard Ei1e pur0hased &P In1rastru0ture Development 9inan0e 4ompany Etd+ 2ID946+ Standard Ei1e also started to use the servi0es o1 the !D94 Treasury Department to advise them upon their investment insuran0e India+ Bne o1 many su00ess stories over the last 1e8 years has been the a0tuarial student program+ The program 8as designed to identi1y high 0aliber individuals 8ho 8ould be sponsored by Standard Ei1e to study 1or their a0tuarial Fuali1i0ation in the U.+

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The ne8 0ompany has " Indian a0tuary and ( a0tuarial students in the team+ =ith a 1urther &students undergoing training in the U.+ %oth parent 0ompanies strongly believe the program 8ill bene1it the ne8 0ompany+ To8ards the end o1 "???, the opening o1 the market looked very promising and both 0ompanies agreed the time 8as right to move the operation to the ne:t level+ There1ore, in $an+&### and e:pe0t team 1orm the U. ;oined a hand pi0ked team 1orm !D94 to 1orm the 0ore pro;e0t term based in *umbai+ -round this time Standard Ei1e pur0hased a 1urther (P stake in !D94 and a (P stake in !D94 bank+ In 1urther development standard Ei1e to parti0ipate insuran0e+ The -ssets *anagement 4ompany promoted by !D94 to enter the mutual 1und market+ The mutual 1und market 8as laun0hed on &#th $uly &### and on "#th ov+&### assets under the management rea0hed Rs+ ",#/5 0rores+ The 0ompany 8as in0orporated on "'th -ug+ &### under the name o1 !D94 Standard Ei1e Insuran0e 4ompany Eimited+ the ambition o1 the 0ompany 1orm as 1ar as ba0k as B0t+ "??( 8as 1irst to be private 0ompany to reenter in the li1e insuran0e market in India+ Bn &5rd o1 B0t+&###, this ambition 8as realiDed 8hen !D94 Standard Ei1e Insuran0e 4ompany Eimited 8ere only li1e 0ompany to be granted a 0erti1i0ate o1 registration+ !D94 are main shareholders in !D94 Standard Ei1e Insuran0e 4ompany Eimited 8ith >"+'P 8hile Standard Ei1e o8n ">+/P given Standard Ei1e<s e:isting investment in the !D94 Group+ This is ma:imum investment allo8ed under 0urrent regulations+

HDFC S%a"#ar# L!fe I" ura"ce Co$7a"6 L%#A
!D94 Standard Ei1e Insuran0e 4ompany Etd+ is one o1 IndiaGs leading private insuran0e 0ompanies, 8hi0h o11ers a range o1 individual and group insuran0e solutions+ It is a ;oint venture bet8een !ousing Development 9inan0e 4orporation Eimited 2!D94 Etd+6, IndiaGs leading housing 1inan0e institution and a Group 4ompany o1 the Standard Ei1e, U.+ !D94 as on *ar0h 5", &##) holds >"+? per 0ent o1 eFuity in the ;oint venture+

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Our <e6 %re"2%h F!"a"c!al E;7er%! e -s a ;oint venture o1 leading 1inan0ial servi0es groups, !D94 Standard Ei1e has the 1inan0ial e:pertise reFuired to manage your long-term investments sa1ely and e11i0iently+ Ra"2e of Solu%!o"

=e have a range o1 individual and group solutions, 8hi0h 0an be easily 0ustomiDed to spe0i1i0 needs+ Bur group solutions have been designed to o11er you 0omplete 1le:ibility 0ombined 8ith a lo8 0harging stru0ture+ Trac< Recor# o far

Bur gross premium in0ome, 1or the year ending *ar0h 5", &##) stood at Rs+ &, >(/ 0rores and ne8 business premium in0ome at Rs+ ",/&' 0rores+ The 0ompany has 0overed over >, )),### lives year ending *ar0h 5", &##)+

Our Pare"%a2e
!D94 Eimited+  !D94 is India<s leading housing 1inan0e institution and has helped build more than &5, ##, ### houses sin0e its in0orporation in "?))+  In 9inan0ial Cear &##5-#' its assets under management 0rossed Rs+ 5/,### 4r+

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 -s at *ar0h 5", &##', outstanding deposits stood at Rs+ ),>'# 0rores+ The depositor base no8 stands at around " million depositors+  Rated Q---< by 4RISIE and I4R- 1or the "#th 0onse0utive year  Stable and e:perien0ed management  !igh servi0e standards  -8arded The A0onomi0 Times 4orporate 4itiDen o1 the year -8ard 1or its long-standing 0ommitment to 0ommunity development+  3resented the QDream !ome< a8ard 1or the best housing 1inan0e provider in &##' at the third -nnual Butlook *oney -8ards+

S%a"#ar# L!fe /rou7 &S%a"#ar# L!fe 7lc a"# !%
1or over "># years

u8 !#!ar!e '

 The Standard Ei1e group has been looking a1ter the 1inan0ial needs o1 0ustomers  It 0urrently has a 0ustomer base o1 around ) million people 8ho rely on the 0ompany 1or their insuran0e, pension, investment, banking and health-0are needs  Its investment manager 0urrently administers R"&( billion in assets  It is a leading pensions provider in the U., and is rated by Standard @ 3oorGs as GstrongG 8ith a rating o1 -S and as GgoodG 8ith a rating o1 -" by *oodyGs  Standard Ei1e 8as a8arded the G%est 3ension 3roviderG in &##', &##( and &##/ at the *oney *arketing -8ards, and it 8as voted a ( star li1e and pensions provider at The G( StarG the 9inan0ial -dviser Servi0e -8ards 1or the last "# years running+ a00olade has also been a8arded to Standard Ei1e Investments 1or and to Standard Ei1e %ank sin0e its in0eption in "??>+ a8arded the G%est

the last "# years,

Standard Ei1e %ank 8as

V! !o"
5&

GThe most su00ess1ul and admired li1e insuran0e 0ompany, 8hi0h means that 8e are the most trusted 0ompany, the easiest to deal 8ith, o11er the best value 1or money, and set the standards in the industryG+ GThe most obvious 0hoi0e 1or allG+

Our Value
,alues that 8e observe 8hile 8e 8ork:  Integrity  Innovation  4ustomer 0entri0  3eople 4are “Bne 1or all and all 1or one7  Team 8ork  $oy and Simpli0ity

Accola#e a"# Reco2"!%!o"
 Rated by G%usiness 8orldG as GIndiaGs *ost Respe0ted 3rivate Ei1e Insuran0e 4ompanyG in &##'  Rated as the N%est e8 Insurer - &##5N by Butlook *oney magaDine, India<s number " personal 1inan0e magaDine

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Boar# Me$8er
 *r+ Deepak S 3arekh 24hairman o1 the 4ompany6  *r+ .eki * *istry 2*anaging Dire0tor o1 !D94 Eimited6  *r+ -le:ander * 4rombie (Group 4hie1 A:e0utive o1 the Standard Ei1e Group6  *s+ *ar0ia D 4ampbell 2Group Bperations Dire0tor in the Standard Ei1e group6  *r+ .eith Skeo0h 24hie1 A:e0utive in Standard Ei1e Investments Eimited6

 *r+ Gautam R Divan 24hartered -00ountant6  *r+ Ran;an 3ant 2Global *anagement 4onsultant advising 4ABK%oards on Strategy and 4hange *anagement6  *r+ Ravi arain 2*anaging Dire0tor @ 4AB o1 ational Sto0k A:0hange o1 India Eimited6  *r+ Deepak * Sat8alekar 2*anaging Dire0tor and 4AB6  *s+ Renu S+ .arnad 2A:e0utive dire0tor o1 !D94 Eimited6

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Pro#uc%
-t !D94 Standard Ei1e, 8e o11er a bouFuet o1 insuran0e solutions to meet every need+ =e 0ater to both, individuals as 8ell as to 0ompanies looking to provide bene1its to their employees+ This se0tion gives you details o1 all our produ0ts+ =e have in0orporated various do8nloadable 1orms and produ0t details so that you 0an make an in1ormed 0hoi0e about buying a poli0y+ 9or individuals, 8e have a range o1 prote0tion, investment, pension and savings plans that assist and nurture dreams apart 1rom providing prote0tion+ Cou 0an 0hoose 1rom a range o1 produ0ts to suit your li1e-stage and needs+ 9or organiDations 8e have a host o1 0ustomiDed solutions that range 1rom Group Term Insuran0e, Gratuity, Eeave An0ashment and Superannuation 3rodu0ts+ These a11ordable plans apart 1rom providing long term value to the employees help in enhan0ing good8ill o1 the 0ompany+

I"#!:!#ual Pro#uc%
=e at !D94 Standard Ei1e realiDe that not everyone has the same kind o1 needs+ .eeping this in mind, 8e have a varied range o1 3rodu0ts that you 0an 0hoose 1rom to suit all your needs+ These 8ill help se0ure your 1uture as 8ell as the 1uture o1 your 1amily+ 5(

Pro%ec%!o" Pla" Cou 0an prote0t your 1amily against the loss o1 your in0ome or the burden o1 a loan in the event o1 your un1ortunate demise, disability or si0kness+ These plans o11er valuable pea0e o1 mind at a small pri0e+ Bur 3rote0tion range in0ludes our Term -ssuran0e 3lan @ Eoan 4over Term -ssuran0e 3lan+

I":e %$e"% Pla" Bur Single 3remium =hole B1 Ei1e plan is 8ell suited to meet your long term investment needs+ =e provide you 8ith attra0tive long term returns through regular bonuses+ Pe" !o" Pla" Bur 3ension 3lans help you se0ure your 1inan0ial independen0e even a1ter retirement+ Bur 3ension range in0ludes our 3ersonal 3ension 3lan, Unit Einked 3ension, Unit Einked 3ension 3lus Sa:!"2 Pla" Bur Savings 3lans o11er you 1le:ible options to build savings 1or your 1uture needs su0h as buying a dream home or 1ul1illing your 0hildren<s immediate and 1uture needs+ Bur Savings range in0ludes Ando8ment -ssuran0e 3lan, Unit Einked Ando8ment, Unit Einked Ando8ment 3lus, *oney %a0k 3lan, 4hildren<s 3lan, Unit Einked Coungstar, Unit Einked Coung star 3lus +

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/rou7 Pro#uc%
O"e0 %o7 ho7 for e$7lo6ee08e"ef!% olu%!o"

!D94 Standard Ei1e has the most 0omprehensive list o1 produ0ts 1or progressive employers 8ho 8ish to provide the best and most innovative employee bene1it solutions to their employees+ =e o11er di11erent produ0ts 1or di11erent needs o1 employers ranging 1rom term insuran0e plans 1or pure prote0tion to voluntary plans su0h as superannuation and leave en0ashment+ =e no8 o11er the 1ollo8ing group produ0ts to our esteemed 0orporate 0lients: Group Term Insuran0e Group ,ariable Term Insuran0e Group Unit-Einked 3lan -n investment solution that provides 1unding vehi0le to manage 0orpuses 8ith Gratuity, De1ined %ene1it or De1ined 4ontribution Superannuation or Eeave An0ashment s0hemes o1 your 0ompany -lso suitable 1or other employee bene1it s0hemes su0h as salary saving s0hemes and 8ealth management s0hemes

5)

UNIT LIN(ED YOUN/ STAR PLAN
The !D94 Unit Einked Coung Star 3lan gives you: ♦ -n outstanding investment opportunity by providing a 0hoi0e o1 thoroughly resear0hed and sele0ted investment+ ♦ ,aluable prote0tion in 0ase o1 the insured parent<s un1ortunate demise+ ♦ ,ery 1le:ible bene1it 0ombinations and payment options+ ♦ 9le:ible additional bene1it options su0h as 0riti0al illness 0over+

1 ea 6 %e7 %o 6our o9" 7la"
Step " 4hoose the premium you 8ish to invest+ Step & 4hoose the amount o1 prote0tion 2Sum assured6 you desire+ Step 5 4hoose the additional bene1it options you desire+ Step ' 4hoose the investment 1und or 1unds you desire+

5>

S%e7 .5 Choo e 6our re2ular 7re$!u$
This is the premium you 8ill 0ontinue to pay ea0h year o1 the poli0y+ The minimum regular premium is Rs+"#,### per year+ Cou 0an pay Fuarterly, hal1 yearly or annually+

Step &: 4hoose your level o1 prote0tion
Cou 0an 0hoose any amount o1 Sum -ssured 8ith: • • - minimum o1 ( times your 0hosen regular premium+ - ma:imum o1 '# times your 0hosen regular premium+

You can reduce but not increase the sum assured.

S%e7 @5 4hoose additional plan bene1its
In addition to maturity bene1it, you 0an 0hoose 1rom these bene1it options+ • • Ei1e Bption- Dea%h Be"ef!% Ei1e @ !ealth Bption- Dea%h Be"ef!% G Cr!%!cal Ill"e Be"ef!%

S%e7 1: 4hoose your investment 1unds+
4hoosing your investment option is important+ =e have / 1unds that give you: • • The potential 1or higher but more variable returns over the term o1 your poli0yI or *ore stable returns 8ith lo8er long-term potential+

Cour investment 8ill buy units in any o1 / 1unds designed to meet your risk approa0h+ -ll units in a parti0ular 1und are identi0al+

Cou 0an 0hoose 1rom all or any o1 the 1ollo8ing / 1unds+

5?

9und

Details

-sset 4lass %ank Govt+ deposits *arket @ *oney @ %onds

AFui

Risk @ Retur n Ratin g
Eo8 Eo8 *oder ate

Se0urities ty

9und 4omposition
EiFuid 9und Se0ure 9und De1ensive 9und A:tremely lo8 0apital risk+ *ore 0apital stability than eFuity 1unds+ T-00ess to better longterm returns through eFuities+ TSigni1i0ant bond e:posure keeps risk %alan0ed *anaged 9und do8n+ TIn0reased eFuity e:posure gives better long-term return+ T%ond e:posure Gro8th 9und provides some stability+ T9or those 8ho 8ish to ma:imiDe their returns+ T"##P investment insuran0e high Indian eFuities+ --"##P -'#P to )#P 5#P to /#P "##P ---"##P )#P to >(P --"(P to 5#P

,ery high

,ery high

Be"ef!% Fro$ %he 7la"5
Dea%h Be"ef!%5
♦ The 0ompany 8ill pay the Sum -ssured to the bene1i0iary+

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♦ Cour 1amily need not pay any 1urther premiums+ ♦ The 0ompany 8ill pay 1uture premiums on your behal1+ ♦ -ny 4riti0al Illness 4over terminates immediately+

Cr!%!cal Ill"e

Be"ef!%5

♦ The 0ompany 8ill pay the Sum -ssured to the bene1i0iary+ ♦ Cour 1amily need not pay any 1urther premiums+ ♦ The 0ompany 8ill pay 1uture premiums on your behal1+ ♦ The Death 4over terminates immediately+

Cha"2e !" %he Pa6$e"% of Pre$!u$5
♦ Cou 0an in0rease or redu0eT, stopT or restart your regular premiums at any time+ ♦ Cou must have paid 5 years regular premiums and your 1und must have a value above Rs+"(, ###+

Cha"2e !" I":e %$e"% Dec! !o" 5
Cou 0an 0hange your investment 1und 0hoi0es in t8o 8ays+ ♦ S8it0hing: you 0an move your a00umulated 1unds 1rom one 1und to another anytime+ ♦ 3remium Redire0tion: you 0an pay your 1uture premiums into a di11erent sele0tion o1 1unds, as per your need+

A##!%!o"al !"2le 7re$!u$ 5
♦ Cou 0an, very 0ost e11e0tively, invest any e:tra money you have to enhan0e the longterm return and provide the little e:tras your 0hild deserves+ ♦ Cou 0an invest more than your regular premiums anytime+ ♦ The minimum additional single premium amount is only Rs+(, ###+

Surre"#er!"2 %he Pol!c65
♦ Cou 0an 0hoose to surrender the poli0y at any time+

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♦ The surrender value 8ill be the value o1 the units in the 1und less any surrender 0harges+ ♦ I1 you have paid 5 years o1 regular premiums, there 8ill be no surrender 0harges+

Ta; Be"ef!% 2%ased on 0urrent ta: la8s6
Cou 8ill be eligible 1or ta: bene1its under Se0tion >#4 and Se0tion "# 2"#D6 o1 the In0ome Ta: -0t, "?/"+ ♦ Under Se0tion >#4, you 0an save up to Rs+55, //# 1rom your ta: ea0h year 20al0ulated on the highest ta: bra0ket6 as premiums up to Rs+",##,### are allo8ed as a dedu0tion 1rom your ta: in0ome+ ♦ Under Se0tion "# 2"# D6, the bene1its you re0eive 1rom this poli0y are 0ompletely ta:-1ree+

Acce !"2 Mo"e6 Ea !l6
Cou 0an make lump sum 8ithdra8als 1rom your 1unds at any time provided: ♦ The minimum 8ithdra8al amount is Rs+"#, ###+ ♦ -1ter the 8ithdra8al, the 1und less any due 0harges e:0eeds both Rs+"(,### and the surrender 0harges in 1or0e at the time o1 the 8ithdra8al+

El!2!8!l!%6
The age and term limits 1or the insured parent 1or taking out a Unit Einked Coung Star 3lan are as sho8n belo8+

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Benefit Options

Term Period (Yrs.) Min. Max.
&( &(

A2e a% E"%r6 &Yr A' Min.
"> ">

Ma;!$u$ A2e a% Ma%ur!%6 &Yr A'
)( /(

Max.
/# ((

L!fe O7%!o" L!fe & Heal%h O7%!o"

"# "#

Be"ef!c!ar!e
The bene1i0iary 2your 0hild6 is the sole person to re0eive the bene1it under the poli0y+ =here the bene1i0iary is less than "> years o1 age the bene1it 8ill be paid to the -ppointee+

Char2e A77l!ca8le u"#er %he Pol!c6
The 0harges under the poli0y are dedu0ted to provide 1or the bene1its and the administration provided by the 0ompany+

Pre$!u$ Alloca%!o" Char2e5
This is a premium-based 0harge+ -1ter dedu0ting this 0harge 1rom your premiums, the remainder is invested to buy units+

Pre$!u$ Pa!# Dur!"2 Tear &R A'

I":e %$e"% Co"%e"% Ra%e &ICR' . % & ,"# 6r A @r# 6ear o"9ar#

'5

Up to " ,??,??? Re2ular Pre$!u$ 9rom &,##,### to ',??,??? 9rom (,##,### to ?,??,??? "#,##,### and above S!"2le Pre$!u$ To70U7& '

)#+##P >#+##P >(+##P ?#+##P ?)+(#P

??+##P ??+##P ??+##P ??+##P ??+##P

Fu"# Ma"a2e$e"% Char2e &FMC' The daily unit pri0e already in0ludes a lo8 1und management 0hare o1 #+>#P per annum o1 the 1und<s value+ In the long term, the key to building great maturity values is a lo8 9*4+

Ca"cella%!o" or Surre"#er Char2e Bn 0an0ellation or surrender o1 the poli0y be1ore 5 years o1 regular premiums have been paid, the 0ompany 8ill make a 0harge o1 5#P o1 the outstanding premiums due 1or the remainder o1 this 5-year period+

O%her Char2e

A#$!"! %ra%!o" Char2e - 0harge o1 Rs+&# per month is 0harged to 0over regular administration 0osts+ The 0ompany makes the 0harge by 0an0eling units in ea0h o1 the 1unds you have 0hosen, in the proportion you have 0hosen+

R! < Be"ef!% Char2e

''

Avery month the 0ompany makes a 0harge 1or providing you 8ith the death or 0riti0al illness 0over you have sele0ted+ The amount o1 the 0harge taken ea0h month depends on your age+ The 0ompany takes the 0harge by 0an0eling units in ea0h o1 the 1unds you have 0hosen, in the proportion you have 0hosen+

Fu"# 9!%ch!"2 Char2e = Pre$!u$ Re#!rec%!o" or Al%era%!o" Char2e 3remium alterations in0lude stopping and restarting your regular premium a1ter 5 years+ The 0ompany does not 0harge 1or any o1 these options 0urrently+ The 0ompany deserves the right to introdu0e su0h 0harges a1ter approval 1rom the IRD-+

ICICI PRUDENTIAL LIFE INSURANCE

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O:er:!e9
IndiaGs umber Bne private li1e insurer, I4I4I 3rudential Ei1e Insuran0e

4ompany is a ;oint venture bet8een I4I4I %ank-one o1 IndiaGs 1oremost 1inan0ial servi0es 0ompanies-and 3rudential pl0- a leading international 1inan0ial servi0es group headFuartered in the United .ingdom+ Total 0apital in1usion stands at Rs+ &5+)& billion, 8ith I4I4I %ank holding a stake o1 )'P and 3rudential pl0 holding &/P+ =e began our operations in De0ember &### a1ter re0eiving approval 1rom Insuran0e Regulatory Development -uthority 2IRD-6+ Today, our nation-8ide team 0omprises o1 over /># o11i0es, over &5(,### advisorsI and &5 ban0 assuran0e partners+ I4I4I 3rudential 8as the 1irst li1e insurer in India to re0eive a ational Insurer 9inan0ial Strength rating o1 --- 2Ind6 1rom 9it0h ratings+ 9or three years in a ro8, I4I4I 3rudential has been voted as IndiaGs *ost Trusted 3rivate Ei1e Insurer, by The A0onomi0 Times - -4 ielsen BRG *arg survey o1 G*ost Trusted %randsG+ -s 8e gro8 our distribution, produ0t range and 0ustomer base, 8e 0ontinue to tirelessly uphold our 0ommitment to deliver 8orld-0lass 1inan0ial solutions to 0ustomers all over India+

The ICICI Pru#e"%!al E#2e 0 3ha% $a<e u NoA .
The I4I4I 3rudential edge 0omes 1rom our 0ommitment to our 0ustomers, in all that 8e do - be it produ0t development, distribution, the sales pro0ess or servi0ing+ !ereGs a peek into 8hat makes us leaders+ "+ Bur produ0ts have been developed a1ter a 0lear and thorough understanding o1 0ustomersG needs+ It is this resear0h that helps us develop Adu0ation plans that o11er the ideal 8ay to truly guarantee your 0hildGs edu0ation, Retirement solutions that are a hedge against in1lation and yet promise a 1i:ed in0ome a1ter you retire, or !ealth insuran0e that arms you 8ith the 1unds you might need to re0over 1rom a dreaded disease+

'/

&+ !aving the right produ0ts is the 1irst step, but itGs eFually important to ensure that our 0ustomers 0an a00ess them easily and Fui0kly+ To this end, I4I4I 3rudential has an advisor base a0ross the length and breadth o1 the 0ountry, and also partners 8ith leading banks, 0orporate agents and brokers to distribute our produ0ts+ 5+ Robust risk management and under8riting pra0ti0es 1orm the 0ore o1 our business+ =ith 0lear guidelines in pla0e, 8e ensure eFuitable 0osting o1 risks, and thereby ensure a smooth and hassle-1ree 0laims pro0ess+ '+ Antrusted 8ith helping our 0ustomers meet their long-term goals, 8e adopt an investment philosophy that aims to a0hieve risk ad;usted returns over the long-term+ (+ East but de1initely not the least, our &#,### plus strong team is given the opportunity to learn and gro8, every day in a multitude o1 8ays+ =e believe this keeps them engaged and enthusiasti0, so that they 0an deliver on our promise to 0over you, at every step in li1e+

V! !o" & Value
Our :! !o"5
To be the dominant Ei1e, !ealth and 3ensions player built on trust by 8orld-0lass people and servi0e+ This 8e hope to a0hieve by:  Understanding the needs o1 0ustomers and o11ering them superior produ0ts and servi0e  Eeveraging te0hnology servi0e 0ustomers Fui0kly, e11i0iently and 0onveniently  Developing and implementing super risk management and investment strategies to o11er sustainable and stable returns to our poli0yholders

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 3roviding an enabling environment to 1oster gro8th and learning 1or our employees  -nd above all, building transparen0y in all our dealings+

The su00ess o1 the 0ompany 8ill be 1ounded in its un1lin0hing 0ommitment to ( 0ore values -- Integrity, 4ustomer 9irst, %oundary less, B8nership and 3assion+ Aa0h o1 the values des0ribes 8hat the 0ompany stands 1or, the Fualities o1 our people and the 8ay 8e 8ork+ =e do believe that 8e are on the threshold o1 an e:0iting ne8 opportunity, 8here 8e 0an play a signi1i0ant role in rede1ining and reshaping the se0tor+ Given the Fuality o1 our parentage and the 0ommitment o1 our team, there are no limits to our gro8th+

Our :alue 5
Avery member o1 the I4I4I 3rudential team is 0ommitted to ( 0ore values: Integrity, 4ustomer 9irst, %oundary less, B8nership, and 3assion+ These values shine 1orth in all 8e do, and have be0ome the keystones o1 our su00ess+

Pro$o%er
ICICI Ba"<
ICICI Ba"< &NYSE5IBN' is IndiaGs se0ond largest bank and largest private se0tor bank 8ith over (# years presen0e in 1inan0ial servi0es and 8ith assets o1 over Rs 5(/?+5& bn 2USD >> billion6 as on $une 5#, &##)+ The %ank o11ers a 8ide range o1 banking produ0ts and 1inan0ial servi0es to 0orporate and retail 0ustomers through a variety o1 delivery 0hannels and through its spe0ialiDed subsidiaries in the areas o1 investment banking, li1e and non-li1e insuran0e, private eFuity and asset management+ I4I4I %ank is a leading player in the retail banking market and servi0es its large 0ustomer base through a '>

net8ork o1 over ?(# bran0hes 2in0luding e:tension 0ounters6, 5'/? -T*s, 0all 0enters and internet banking 2888+i0i0ibank+0om6 to ensure that 0ustomers have a00ess to its servi0es at all times

Pru#e"%!al Plc
Astablished in Eondon in ">'>, 3rudential pl0, through its businesses in the U. and Aurope, the US and -sia, provides retail 1inan0ial servi0es produ0ts and servi0es to more than &# million 0ustomers, poli0yholder and unit holders and manages over R&(/ billion o1 1unds 8orld8ide 2as on $une 5#,&##)6+ In -sia, 3rudential is the leading Auropean li1e insuran0e 0ompany 8ith li1e operations in 4hina, !ong .ong, India, Indonesia, $apan, .orea, *alaysia, the 3hilippines, Singapore, Tai8an, Thailand, ,ietnam+ 3rudential is the se0ond largest retail 1und manager 1or -sian sour0ed assets e:-$apan as at $une &##/+ Its 1und management business has e:panded into a total o1 ten markets : 4hina, !ong .ong, India, $apan, .orea, *alaysia, Singapore, Tai8an, ,ietnam and United -rab Amirates+

Fac% Shee%
THE Co$7a"6
I4I4I 3rudential Ei1e Insuran0e 4ompany is a ;oint venture bet8een I4I4I %ank, a premier 1inan0ial po8erhouse, and 3rudential pl0, a leading international 1inan0ial servi0es group headFuartered in the United .ingdom+ I4I4I 3rudential 8as amongst the 1irst private se0tor insuran0e 0ompanies to begin operations in De0ember &### a1ter re0eiving approval 1rom Insuran0e Regulatory Development -uthority 2IRD-6+ I4I4I 3rudentialGs 0apital stands at Rs+ &5+)& billion 8ith I4I4I %ank and 3rudential pl0 holding )'P and &/P stake respe0tively+ 9or the 1irst Fuarter ended $une 5#, &##), the 0ompany garnered Rs+ ?>) 0rore o1 8eighted retail S group ne8 business premiums and 8rote over '(#,### retail poli0ies in the period+ The 0ompany has assets held to the tune o1 over Rs+ ">,'## 0rore+

'?

I4I4I 3rudential is also the only private li1e insurer in India to re0eive a ational Insurer 9inan0ial Strength rating o1 --- 2Ind6 1rom 9it0h ratings+ The --- 2Ind6 rating is the highest rating, and is a 0lear assuran0e o1 I4I4I 3rudentialGs ability to meet its obligations to 0ustomers at the time o1 maturity or 0laims+ 9or the past si: years, I4I4I 3rudential has retained its position as the Indian 0ustomer at every step in li1e+ o+ " private li1e

insurer in the 0ountry, 8ith a 8ide range o1 1le:ible produ0ts that meet the needs o1 the

D! %r!8u%!o"
I4I4I 3rudential has one o1 the largest distribution net8orks amongst private li1e insurers in India+ It has a strong presen0e a0ross India 8ith over /># bran0hes and over &5(,### advisors+

The 0ompany has over &5 ban0assurna0e partners, having tie-ups 8ith I4I4I %ank, 9ederal %ank, South Indian %ank, %ank o1 India, Eord .rishna %ank, Idukki Distri0t 4ooperative %ank, $algaon 3eoples 4o-operative %ank, Shamrao ,ithal 4o-op %ank, Arnakulam %ank, ? %ank o1 India sponsored Regional Rural %anks 2RR%s6, Sangli Urban 4o-operative %ank, %aramati 4o-operative %ank, %allia .shetriya Gramin %ank, The !aryana State 4o-operative %ank and Imphal Urban 4ooperative %ank Eimited+

MANA/EMENT PROFILE
(#

Boar# of D!rec%or
The I4I4I 3rudential Ei1e Insuran0e 4ompany Eimited %oard 0omprises reputed people 1rom the 1inan0e industry both 1rom India and abroad+ MrA (AVA (a$a%h= Cha!r$a" MrA Barr6 S%o9e Mr A (al7a"a Mor7ar!a Mr A Cha"#a (ochhar MrA HT Pho"2 MrA MAPA Mo#! MrA R Nara6a"a" MrA (e<! Da#! e%h M A Sh!<ha Shar$a= Ma"a2!"2 D!rec%or MrA NA SA (a""a"= E;ecu%!:e D!rec%or MrA Bhar2a: Da 2u7%a= E;ecu%!:e D!rec%or

Ma"a2e$e"% Tea$
The I4I4I 3rudential Ei1e Insuran0e 4ompany Eimited *anagement team 0omprises reputed people 1rom the 1inan0e industry both 1rom India and abroad+ M A Sh!<ha Shar$a= Ma"a2!"2 D!rec%or & CEO MrA NA SA (a""a"= E;ecu%!:e D!rec%or MrA Bhar2a: Da 2u7%a= E;ecu%!:e D!rec%or M A A"!%a Pa!= EVP F Cu %o$er Ser:!ce & Tech"olo26 MrA AC!$ M!%ha"!= Ch!ef Ac%uar6 MrA Pu"ee% Na"#a= E;ecu%!:e V!ce Pre !#e"% & Ch!ef I":e %$e"% Off!cer

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Pro#uc%
I" ura"ce Solu%!o" for I"#!:!#ual
I4I4I 3rudential Ei1e Insuran0e o11ers a range o1 innovative, 0ustomer-0entri0 produ0ts that meet the needs o1 0ustomers at every li1e stage+ Its produ0ts 0an be enhan0ed 8ith up to ' riders, to 0reate a 0ustomiDed solution 1or ea0h poli0yholder+

Savings & Wealth Creation Solutions
 Sa:eH"HPro%ec%is a traditional endo8ment savings plan that o11ers li1e prote0tion along 8ith adeFuate returns+

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 Ca h Ba< is an anti0ipated endo8ment poli0y ideal 1or meeting milestone e:penses like a 0hildGs marriage, e:penses 1or a 0hildGs higher edu0ation or pur0hase o1 an asset+ It is available 1or terms o1 "( and &# years+  L!fe T!$e Su7er @ L!fe T!$e Plu are unit-linked plans that o11er 0ustomers the 1le:ibility and 0ontrol to 0ustomiDe the poli0y to meet the 0hanging needs at di11erent li1e stages+ Aa0h o11er / 1und options - 3reserver, 3rote0tor, %alan0er, *a:i miser, 9le:i Gro8th and 9le:i %alan0ed  L!fe L!"< Su7er is a single premium unit linked insuran0e plan 8hi0h 0ombines li1e insuran0e 0over 8ith the opportunity to stay invested in the sto0k market+  Pre$!er L!fe /ol# is a limited premium paying plan spe0ially stru0tured 1or long-term 8ealth 0reation+  I":e % Sh!el# L!fe Ne9 is a unit linked plan that provides premium guarantee on the invested premiums and ensures that the 0ustomer re0eives only the bene1its o1 1und appre0iation 8ithout any o1 the risks o1 depre0iation+  I":e % Sh!el# Ca h 8a< is a unit linked plan that provides premium guarantee on the invested premiums along 8ith 1le:ible liFuidity options+

Pro%ec%!o" Solu%!o"
 L!fe /uar# is a prote0tion plan, 8hi0h o11ers li1e 0over at lo8 0ost+ It is available in 5 options - level term assuran0e, level term assuran0e 8ith return o1 premium @ single premium+  Ho$e A ure is a mortgage redu0ing term assuran0e plan designed spe0i1i0ally to help 0ustomers 0over their home loans in a simple and 0ost-e11e0tive manner+

E#uca%!o" !" ura"ce 7la"
 E#uca%!o" !" ura"ce under the Smart .id brand provides guaranteed edu0ational bene1its to a 0hild along 8ith li1e insuran0e 0over 1or the parent 8ho

(5

pur0hases the poli0y+ The poli0y is designed to provide money at important milestones in the 0hildGs li1e+ Smart .id plans are also available in unit-linked 1orm - both single premium and regular premium+

Re%!re$e"% Solu%!o"
 Fore:er L!fe is a traditional retirement produ0t that o11ers guaranteed returns 1or the 1irst ' years and then de0lares bonuses annually+  L!fe T!$e Su7er Pe" !o" is a regular premium unit linked pension plan that helps one a00umulate over the long term and o11ers ( annuity options 2li1e annuity, li1e annuity 8ith return o1 pur0hase pri0e, ;oint li1e last survivor annuity 8ith return o1 pur0hase pri0e, li1e annuity guaranteed 1or (, "# and "( years @ 1or li1e therea1ter, ;oint li1e, last survivor annuity 8ithout return o1 pur0hase pri0e6 at the time o1 retirement+  L!fe L!"< Su7er Pe" !o" is a single premium unit linked pension plan+  I$$e#!a%e A""u!%6 is a single premium annuity produ0t that guarantees in0ome 1or li1e at the time o1 retirement+ It o11ers the bene1it o1 ( payout options+

Heal%h Solu%!o"
 Heal%h A ure a"# Heal%h A ure Plu 5 !ealth -ssure is a regular premium plan 8hi0h provides long term 0over against / 0riti0al illnesses by providing poli0yholder 8ith 1inan0ial assistan0e, irrespe0tive o1 the a0tual medi0al e:penses+ !ealth -ssure 3lus o11ers the added advantage o1 an eFuivalent li1e insuran0e 0over+  Ca"cer Care5 is a regular premium plan that pays 0ash bene1it on the diagnosis as 8ell as at di11erent stages in the treatment o1 various 0an0er 0onditions+

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 D!a8e%e Care5 Diabetes 4are is a uniFue 0riti0al illness produ0t spe0ially developed 1or individuals 8ith Type & diabetes and pre-diabetes+ It makes payments on diagnosis on any o1 / diabetes related 0riti0al illnesses, and also o11ers a 0oordinated 0are approa0h to managing the 0ondition+ Diabetes 4are 3lus also o11ers li1e 0over+  Ho 7!%al Care5 is a 1i:ed bene1it plan 0overing various stages o1 treatment L hospitaliDation, I4U, pro0edures @ re0uperating allo8an0e+ It 0overs a range o1 medi0al 0onditions 2?## surgeries6 and has a long term guaranteed 0overage upto &# years+  Cr! ! Co:er5 is a 5/#-degree produ0t that 8ill provide long-term 0overage against 5( 0riti0al illnesses, total and permanent disability, and death+

/rou7 I" ura"ce Solu%!o"
I4I4I 3rudential also o11ers Group Insuran0e Solutions 1or 0ompanies seeking to enhan0e bene1its to their employees+ /rou7 /ra%u!%6 Pla"5 I4I4I 3ruGs group gratuity plan helps employers 1und their statutory gratuity obligation in a s0ienti1i0 manner+ The plan 0an also be 0ustomiDed to stru0ture s0hemes that 0an provide bene1its beyond the statutory obligations+ /rou7 Su7era""ua%!o" Pla"5 I4I4I 3ru o11ers both de1ined 0ontribution 2D46 and de1ined bene1it 2D%6 superannuation s0hemes to optimiDe returns 1or the members o1 the trust and rationaliDe the 0ost+ *embers have the option o1 0hoosing 1rom various annuity options or opting 1or a partial 0ommutation o1 the annuity at the time o1 retirement+ /rou7 I$$e#!a%e A""u!%!e 5 In addition to the annuities o11ered to e:isting superannuation 0ustomers, 8e o11er immediate annuities to superannuation 1unds not managed by us+ /rou7 Ter$ Pla"5 I4I4I 3ruGs 1le:ible group term solution helps provide a11ordable

((

0over to members o1 a group+ The 0over 0ould be uni1orm or based on designationKrank or a multiple o1 salary+ The bene1it under the poli0y is paid to the bene1i0iary nominated by the member on hisKher death+

Fle;!8le R!#er O7%!o"
I4I4I 3ru Ei1e o11ers 1le:ible riders, 8hi0h 0an be added to the basi0 poli0y at a marginal 0ost, depending on the spe0i1i0 needs o1 the 0ustomer+ "+ Acc!#e"% & #! a8!l!%6 8e"ef!%5 I1 death o00urs as the result o1 an a00ident during the term o1 the poli0y, the bene1i0iary re0eives an additional amount eFual to the rider sum assured under the poli0y+ I1 an a00ident results in total and permanent disability, "#P o1 rider sum assured 8ill be paid ea0h year, 1rom the end o1 the "st year a1ter the disability date 1or the remainder o1 the base poli0y term or "# years, 8hi0hever is lesser+ I1 the death o00urs 8hile traveling in an authoriDed mass transport vehi0le, the bene1i0iary 8ill be entitled to t8i0e the sum assured as additional bene1it+ &+ Cr!%!cal Ill"e Be"ef!%5 prote0ts the insured against 1inan0ial loss in the event o1 ? spe0i1ied 0riti0al illnesses+ %ene1its are payable to the insured 1or medi0al e:penses prior to death+ 5+ 3a!:er of Pre$!u$5 In 0ase o1 total and permanent disability due to an a00ident, the 1uture premiums 0ontinue to be paid by the 0ompany till the time o1 maturity+ This rider is available 8ith Smart .id, Ei1e Time 3lus, Ei1e Time Super and Ei1e Time Super 3ension+ '+ I"co$e Be"ef!%5 In 0ase o1 death o1 the li1e assured during the term o1 the poli0y, "#P o1 the sum assured is paid annually to the nominee on ea0h poli0y anniversary till the maturity o1 the rider+

The co$7a"6 #oe 8el!e:e %ha% !% ! o" %he %hre hol# of a" e;c!%!"2 "e9 o77or%u"!%6= 9here !% ca" 7la6 a !2"!f!ca"% role !" re#ef!"!"2 a"#
(/

re ha7!"2 %he ec%orA /!:e" %he Iual!%6 of !% 7are"%a2e a"# %he co$$!%$e"% of !% %ea$= %here are "o l!$!% %o our 2ro9%hA

ICICI Pru L!fe T!$e Plu Pla"
Su!%a8!l!%6
This poli0y is a long-term market linked total prote0tion plan+ The plan o11ers prote0tion 1or li1e at the same time allo8s the poli0yholder to get market-linked returns+ It is a single produ0t 0ombining the bene1its o1 both investment produ0t and insuran0e plan+ This apart, the produ0t o11ers a lot o1 1le:ibility+

(EY BENEFITS OF LIFE TIME PLUS

()

 This poli0y o11ers the poli0yholder the prote0tion o1 Su$ A ure# AND Fu"# Value, in 0ase o1 an un1ortunate event o1 death+  3otentially higher returns are o11ered over the long-term by investing in market linked 1unds+  3rovision o1 additional allo0ation o1 units at regular intervals to enhan0e the investment+  Bptions to 8ithdra8 the money systemati0ally over a period o1 ( years on maturity o1 the poli0y+  3rovides 0over 0ontinuan0e option, 8hi0h ensures 0ontinuan0e o1 li1e insuran0e 0over even i1 the poli0yholder takes a temporary break in premium payment+  The poli0yholder 0an en;oy ta: bene1its on premium paid @ bene1its re0eived under this poli0y, as per the prevailing In0ome Ta: Ea8s+

Ho9 #oe %he 7ol!c6 9or<J
♦ The poli0yholder needs to 0hoose the premium amount, term @Sum -ssured 1or 8hi0h he 8ish to take the poli0y+ ♦ -1ter dedu0ting premium allo0ation 0harges, the balan0e amount is invested in the investment 1und2s6 o1 poli0yholders< 0hoi0e+ ♦ The poli0yholder 0an opt 1or add-on riders available under the poli0y 1or a nominal e:tra amount+ ♦ Bn survival, the maturity bene1it is paid to the poli0yholder+ I1 the un1ortunate event o1 death, the nominee re0eives the Sum -ssured - D the 9und ,alue

Be"ef!% !" #e%a!l  Dea%h Be"ef!%
In the un1ortunate event o1 death during the term o1 the poli0y, the nominee shall re0eive the Sum -ssured - D 9und ,alue+

(>

 Ma%ur!%6 Be"ef!%
%ased on the term 0hosen 1or this poli0y, the poli0yholder 8ill be entitled to re0eive the 9und ,alue at the time o1 maturity+

 S9!%ch!"2 O7%!o"
=ith this option, the poli0y holder 0an s8it0h bet8een the investment 1unds at any time Uprovided the poli0y is in 1or0eV, depending on the poli0y holdersG 1inan0ial priorities ) investment de0ision+ In any poli0y year, ' s8it0hes are 1ree o1 0harge+ The minimum s8it0h amount is &,###

 Par%!al 3!%h#ra9al Be"ef!%
3artial 8ithdra8al 8ill be allo8ed a1ter 0ompletion o1 5 poli0y years @ on payment o1 1ull 5 years< premium+ The minimum partial 8ithdra8al amount is Rs+&, ###+

 Co:er Co"%!"ua"ce O7%!o"
This option ensures that the insuran0e 0over 0ontinues in 0ase poli0yholder is unable to pay premiums, anytime a1ter the payment o1 1irst 5 years< premium+ -ll appli0able 0harges 8ill be automati0ally dedu0ted 1rom the units available in his 1und+ The poli0yholder 0an restart premium payment any time therea1ter+ The poli0yholder needs to opt 1or 0over 0ontinuan0e option, i1 he 8ishes to avail o1 this bene1it+

 A##!%!o"al Pro%ec%!o" 9!%h R!#er
The poli0yholder 0an 1urther 0ustomiDe his poli0y by adding r!#er = to en;oy additional prote0tion at a nominal e:tra 0ost, as given belo8:

(?

♦ Acc!#e"% & D! a8!l!%6 Be"ef!% R!#er0 In the event o1 death or disability due to an a00ident, the rider bene1it 8ould be paid+ ♦ Cr!%!cal !ll"e 8e"ef!% R!#er0 In the event o1 the Ei1e -ssured 0ontra0ting

any o1 the spe0i1ied 0riti0al illness, the rider bene1it amount 8ould be paid+ ♦ 3a!:er of Pre$!u$ R!#er0 In 0ase o1 total and permanent disability due to an a00ident all 1urther premiums till maturity 8ould be paid by the 0ompany+

R!#er char2e for o7%e# r!#er 9!ll 8e reco:ere# 86 ca"cella%!o" of u"!% A

O%her Co"#!%!o"

 *inimumK*a:imum Antry -ge  *inimumKma:imum Term  *inimumK*a:imum 3remium  3remium 3ayment 9reFuen0y  *inimum Sum -ssured

: #-/( years : "#-5# years : Rs+&#,### - Rs+5##,### per annum : Cearly, !al1-yearly, *onthly : -nnual 3remium : 2TermK&6

Char2e a77l!ca8le u"#er %he 7ol!c6 Pre$!u$ alloca%!o" char2e A""ual Pre$!u$ R A,)=))) %o ,-K R @))=))) ,-K @K @K Year . Year , Year @ Year 1 Year o"9ar# .K

O%her Char2e /#

♦ S9!%ch!"2 Char2e 0 ' 1ree s8it0hes allo8ed every poli0y year+ SubseFuent s8it0hes 8ill be 0harged at Rs"## per s8it0h+ ♦ Pol!c6 A#$!"! %ra%!o" Char2e0 There 8ould be a 1i:ed poli0y administration 0harge o1 Rs/# per month+ ♦ Mor%al!%6 char2e0 *ortality 0harges 8ill be dedu0ted on a monthly basis on the Sum -ssured+ Indi0ative 0harges per thousand Sum -ssured 1or a healthy male li1e is sho8n belo8: A2e&6r ' RA ,) .A@@ @) .A1* 1) ,A1? -) -A>>

♦ Fu"# Ma"a2e$e"% Char2e0 The annual 1und management 0harge, 8hi0h 8ill be ad;usted 1rom the et -sset ,alue o1 various 9unds, are as 1ollo8s:

Fu"# Char2e

*a:imiser ll "+(#P p+a+

%alan0er ll "+##P p+a+

3rote0tor #+)(P p+a+

3reserver #+)(P p+a+

♦ Par%!al 3!%h#ra9al Char2e0 Bne partial 8ithdra8al in a poli0y Cear 8ould be 1ree+ -ll subseFuent partial 8ithdra8als in that poli0y year 8ould be 0harged at Rs"## per 8ithdra8al+

&The e char2e 9!ll 8e #e#uc%e# 86 ca"cella%!o" of u"!% '

/"

Cha7%er0,5 O8Bec%!:e of %he S%u#6
 To kno8 about 0ompany history and organiDation stru0ture+  3rovide an overvie8 o1 unit linked plans o1 !D94 standard li1e insuran0e 0ompany ltd+ @ I4I4I 3rudential 4ompany+  To make a 0omparative per1orman0e o1 unit linked plans  To study the e:pe0tations o1 0ustomers 1rom insuran0e 0ompanies+  3osition o1 Insuran0e 4ompanies in the mind o1 the 0onsumer

/&

Cha7%er0@5 Me%ho#olo26
RASA-R4! DASIG "6 Statement o1 the problem &6 Resear0h ob;e0tives 56 Resear0h *ethodology  Type o1 study  Data 0olle0tion  Sampling  Tools @ te0hniFues '6 S0ope o1 study (6 Eimitations

IA Def!"!"2 Re earch Pro8le$
3roblem de1inition is the 1irst @ 1oremost part o1 the resear0h pro0ess, 8ithout this resear0h 0annot be 0ompleted until and unless there is a problem or ob;e0tive, the resear0h 0annot be initiated+ 3roblem de1inition re1ers to the ob;e0tive on 8hi0h resear0h has to be done, so problem de1inition in my pro;e0t 8ork is 0omparative study o1 unit link produ0ts o1 !D94-SEI4 @ I4I4I 3rudential Ei1e Insuran0e 4ompany and to kno8 8hi0h 0ompany 0an provide better servi0e to 0onsumer+

IIA O8Bec%!:e
 To kno8 about 0ompany history and organiDation stru0ture+  3rovide an overvie8 o1 unit linked plans o1 !D94 standard li1e insuran0e 0ompany ltd+ @ I4I4I 3rudential 4ompany+  To make a 0omparative per1orman0e o1 unit linked plans  To study the e:pe0tations o1 0ustomers 1rom insuran0e 0ompanies+  3osition o1 Insuran0e 4ompanies in the mind o1 the 0onsumer

/5

IIIA Re earch Me%ho#olo26
Resear0h re1ers to sear0h 1or kno8ledge+ In other 8ords resear0h is de1ined as a 0are1ul investigation or inFuiry espe0ially through 1or ne8 1a0ts in any bran0h o1 kno8ledge+ Resear0h *ethodology is one o1 the important aspe0ts o1 any pro;e0t+ This gives us 0lear-0ut vie8 o1 method so used 8hile gathering the in1ormation so needed 1or the 0ompletion o1 the report+

a6 T67e of S%u#6: Study is e:ploratory @ des0riptive in nature+ b6 Da%a Collec%!o"5 Source of Da%a: T8o types o1 data sour0es 8ill be taken into 0onsideration  3rimary Data  Se0ondary Data

Pr!$ar6 Da%a: The primary data are those 8hi0h are 0olle0ted a 1resh and 1or the 1irst
time and thus happen to be original in 0hara0ter+ Under this pro;e0t dire0t 0olle0tion o1 data 1rom sour0e o1 in1ormation @ te0hniFues su0h as personal intervie8ing and survey through Fuestionnaire 1or 0ustomers has been 0onsidered+

Seco"#ar6 Da%a: Se0ondary data is one 8hi0h has already been 0olle0ted by
someone else and 8hi0h has already been passed through statisti0al pro0essing+ Under this pro;e0t se0ondary data is been 0olle0ted 1rom ;ournals, magaDines, @ 8eb sites+

46 De:elo7!"2 Sa$7le De !2":
Sample design re1ers to number o1 items to be in0luded in sample It re1ers to the te0hniFue or pro0edure the resear0her 8ould adopt In sele0ting items 1rom the sampleA

/'

 T67e of u"!:er e5 The universe is the entire group o1 items the resear0her 8ishes to study and about 8hi0h they plan to generaliDe+ Under this pro;e0t type o1 universe in0lude people residing in %addi 2!+3+6 @ surrounding rural area+



Sa$7l!"2 U"!%5 Sampling units are the persons, 8ho have pur0hased
the insuran0e plan in %addi 2!+36+



S!Ce of Sa$7le5
respondents+

umber o1 people surveyed+ Generally large Sample The sample 4onsist o1 "##

more reliable result than small sample+

 Sa$7l!"2 Proce#ure5 Sampling pro0edure re1ers to te0hniFue Used in sele0ting the items 1or the sample+ Under this pro;e0t sele0tion o1 respondents is on the basis o1 0onvenien0e sampling+  Tools and Te0hniFues: 9or this survey 4onvenien0e- Sampling te0hniFue is used+ 

Sco7e of S%u#65

This study is mainly 0on1ined to the 0ustomer o1

%addi 2!+3+6 @ near villages+  The siDe o1 sample is "## respondents+  4omparison is done on the basis o1 se0ondary sour0es+

L!$!%a%!o" of %he S%u#65
 Time 1or the 0ompletion o1 the pro;e0t 8as too short to do an in-depth study+  The 1a0ts and 0on0epts o1 Respondents may be biased, imaginary and may be based entirely on their personal e:perien0e+  *ost o1 Fuestion in the Fuestionnaire 8as 0losing ended 8hi0h redu0ed the s0ope 1or people to give 1ree opinion+  The sample siDe 8as not enough to rea0h on any e:a0t 0on0lusion+

/(

 Study is based on primary or se0ondary data that may not be true+ *ost o1 the people are not interested to give the right data+

Cha7%er015 S3OT A"al6 ! of %he Co$7a"!e S%re"2%h of HDFC0SLIC
 Domesti0 image o1 !D94-SEI4 supported by 3rudential<s international image is strength o1 the 0ompany+  Strong and 8ell spread net8ork o1 Fuali1ied intermediaries and sales person+  Strong 0apital and reserve base+  The 0ompany provides 0ustomer servi0e o1 the highest order+  !uge basket o1 produ0t range 8hi0h are suitable to all age and in0ome groups+  Earge pool o1 te0hni0ally skilled manpo8er 8ith in depth kno8ledge and understanding o1 the market+  The 0ompany also provides innovative produ0ts to 0ater to di11erent needs o1 di11erent 0ustomers+

S%re"2%h of ICICI Pru#e"%!al L!fe !" ura"ce
 I4I4I 3rudential Ei1e insuran0e is one o1 the largest 9inan0ialInstitutions o1 India+  *oney 3o8er, 8hi0h makes them ignorant in the gestation period+  *otivation 1a0tors provided by the 4ompany+ //

 Servi0e Fuality, 8hi0h is the 0ru: o1 their mission+  !ighest paid up 0apital deposited in IRD- in 0omparison to other players+  Training provided to all other peoples asso0iated 8ith I4I4I 3rudential+  Dedi0ated Amployees+  =ell e11i0ient management and Te0hnology+

3ea<"e e of HDFC0SLIC

 !eavy management e:penses and administrative 0osts+  Eo8 0ustomer 0on1iden0e on the private players+  ,erti0al hierar0hi0al reporting stru0ture 8ith many designations and 0adres leading to po8er politi0s at all levels 8ithout any e:0eption+  3oor retention per0entage o1 tied up agents+

3ea<"e e of ICICI Pru#e"%!al L!fe !" ura"ce
 !ighest targets 1or 1inan0ial advisors and 1or salesdepartment+  *any 0ompetitors in the market o11ers sameprodu0ts by title di11erent in premium and o11erings+  ,ery huge premiums o1 poli0ies+  3roblemati0 to advisors also+  Ea0k o1 a8areness among people about insuran0e+  Ea0k o1 good servi0es+
 Eess 0overage in rural areas+

/)

O77or%u"!%!e of HDFC0SLIC

 Insurable population L-00ording to I G only "#P o1 the population is insured, 8hi0h represents around 5#P o1 the insurable population+ This suggests more than 5##m people, 8ith the potential to buy insuran0e, remain uninsured+  There 8ill be in1lo8 o1 managerial and 1inan0ial e:pertise 1rom the 8orld<s leading insuran0e markets+ 9urther the burden o1 edu0ating 0onsumers 8ill also be shared among many players+  International 0ompanies 8ill help in building 8orld 0lass e:pertise in lo0al market by introdu0ing the best global pra0ti0es+  Insuran0e liberaliDation in India is e:pe0ted to result in a 8ider 0hoi0e o1 ma;or 0ommer0ial insuran0e 0overs, su0h as 1ire, e:port 0redit,+++

O77or%u"!%!e of ICICI Pru#e"%!al L!fe !" ura"ce

 Tie ups 8ith more 0orporate agents inall over India+ -nd tie up 8ith brokers 2agents6 also+  Strong %rand o1 the 4ompany helps toboost sales in the market+  -ttra0t more people o1 providing0ustomer 0entri0 produ0ts+  In0reasing per 0apita in0ome+

/>

Threa% of HDFC0SLIC
 =eak regulatory environment+  %ad 1is0al and monetary poli0y o1 India  A:0essive politi0iDation o1 the industry+  The lo8 parti0ipation rates+  egative attitude o1 most potential markets+

 -nother ma;or 0hallenge is poverty o1 India+  A:0essive intelle0tualiDation situations and 0ir0umstan0es+

Threa% of ICICI Pru#e"%!al L!fe !" ura"ce

 3layers like !D94 and %a;a; -llianD 8ith lo8 premium 1or similar plans+  3eople are not 1amiliar 8ith di11erent distribution net8orks+  Threat 1rom e:isting players+  Threat 1rom ne8 entrants+  4hanges in the poli0ies o1 IRD-+  4ut throat 0ompetition in the market+

/?

Cha7%er0-5 A"al6 ! of F!"a"c!al Re7or% of %he Co$7a"6

)#

Co$7a"6 Na$e Pla" Na$e A2e Su$ A ure# Pre$!u$

HDFC S%#A L!fe I" ura"ce Coung star "> to /( *inimum-Rs+",##,### *a:imum- o limit *inimum-Rs+"#, ### *a:imum-no limit 5 years -1ter 5 years: no 0harges %e1ore lo0k in period-5#P o1 outstanding premium B3W di11eren0e bet8een regular premium e:pe0ted @ re0eived in the 1irst t8o years

ICICI Pru l!fe I" ura"ce Ei1e Time 3lus # to /( *inimum-Rs+",##,### *a:imum-"0rore *inimum-Rs+&#, ### *a:imum-5,##,### 5 years -1ter 5 years: you get ?&P -1ter ' years: you get ?'P -1ter ( years: you get ?/P -1ter / years: you get ?>P -1ter )years @ above: you get "##P o1 1und value

Loc< !" 7er!o# Surre"#er allo9e#

Dea%h a"# Ma%ur!%6

Bn Death-Su$ A ure# G fu%ure 7re$!u$ 9!ll 8e 2!:e" 86 HDFC o" %he 8ehalf of 7ol!c6hol#erA O" $a%ur!%6- ,alue o1 a00umulated 1und is given to the 8e"ef!c!ar6+

O" Dea%h- Sum -ssured S 9und ,alue 8ill be given to the "o$!"eeA O" Ma%ur!%6-9und value is given to the poli0yholder

)"

Fu"# O7%!o"

Ter$ R!#er Char2e

"+ EiFuid 9und &+ Se0ure *anaged 9und 5+ De1ensive *anaged 9und '+ %alan0ed *anaged 9und (+ AFuity *anaged 9und /+ Gro8th 9und 9or a00ident, 4riti0al Illness- ma:+ Rs+&(,##,###

   

*a:i miser ll %alan0er ll 3rote0tor ll 3reserver

9or a00ident, 4riti0al Illness, 3ermanent Disability 9und *gmt+ 4harges9und *anagement 4harges#+>#P per annum Di11erent 4harges 1or -dministration 4hargesdi11erent 1unds sele0ted+ Rs+&# per *onth  *a:i miser ll-"+(#P Risk %ene1it 4hargesp+a+ Depend upon the age o1 the  %alan0er ll-"+##P poli0yholder+ p+a+ 3artial =ithdra8al 4harge 3rote0tor- #+)(P / partial 8ithdra8al in a p+a+ poli0y year is 1ree+ -ll  3reserver- #+)(P subseFuent partial p+a+ 8ithdra8al in that poli0y -dministration 4hargesyear 8ould be 0harged at Rs+/# per *onth Rs+&(# per 8ithdra8al+ 3artial =ithdra8al 4harge9und s8it0hing 4harges, &' one partial 8ithdra8al in a s8it0hes allo8ed every poli0y year is 1ree+ -ll poli0y year 1ree+ SubseFuent subseFuent partial s8it0hes 8ill be 0harged at 8ithdra8al in that poli0y Rs+ "## per s8it0h premium year 8ould be 0harged at Rs+"## per 8ithdra8al+ S8it0hing 4harges- ' s8it0hes allo8ed every poli0y year 1ree+ SubseFuent s8it0hes 8ill be 0harged at Rs+ "## per s8it0h+

)&

)5

Re 7o"#e"% Prof!le5 0 Re 7o"#e"% 7rof!le ha 8ee" a"al6Ce#5 0 LueA .5 0 A9are"e
SA NoA A B C D

of HDFC S%a"#ar# L!fe I" ura"ce Co$7a"650
Par%!cular 3rint *edia Ale0troni0 *edia -gents Bthers Re 7o" e &' 5# 5( ""

40 35 30 25 20 15 10 5 0 Print Media Electronic Media Agents Others Series1

INTERPRETATION50
In this 0hart, 8e 0an see that the agents play ma;or role in a8aring people about the !D94-SEI4+ -part 1rom this ele0troni0 media is also a sour0e 1or a8areness+

)'

Re 7o"#e"% M re 7o" e a8ou% %he a9are"e Co$7a"!e LueA ,5 03ha% %he 7eo7le %h!"< a8ou% %he I" ura"ce
SA NoA A B C Par%!cular e0essity 1or prote0tion se0urity Imposition o1 a burden o1 e:penses - 0ompulsory tool 1or ta: saving

of %he I" ura"ce

Re 7o" e /) ") "/

80 70 60 50 40 30 20 10 0 Security Ex enses !ax"Sa#ing Series1

INTERPRETATION50
Bn the basis o1 above analysis, 8e 0an say that people mostly treat insuran0e as a prote0tion instrument+ /) people think insuran0e as a ne0essity 1or prote0tion @ se0urity+

)(

Oue+ 5: - *ain 0onsideration that a 0ustomer looks at 8hile pur0hasing an Insuran0e 3oli0y+
SA NoA A B C D E Par%!cular T-X S-,I G 3RBTA4TIB 3A SIB I ,AST*A T Re 7o" e "# &? (5 5 (

60 50 40 30 20 10 0
g Pr ot ec tio n on $n #e st e% nt !a x Sa #in Pe ns i

Series1

INTERPRETATION50
Bn the basis o1 above analysis, 8e 0an say that people pur0hase insuran0e poli0y mostly 1or the prote0tion purpose so use to pur0hase traditional palns+

)/

Oue+ ': - =hat a respondent see 8hile pur0hasing Insuran0e 1rom the 0ompanyY SA NoA A B C D E Par%!cular Standing and good8ill o1 the 0ompany 3rodu0t range o1 the 0ompany -dvertisement being released by the 0ompany Servi0es being given by the 0ompany Returns o1 bonus de0lared by the 0ompany Ka2e '/ ) 5 "> &/

50 45 40 35 30 25 20 15 10 5 0
en t Pr od uc t"( an g & oo d' ill Ad #e rti se % Se r# i ce s (e tu rn e

Series1

INTERPRETATION50
Bn the basis o1 above analysis, 8e 0an say that people pre1er the 0ompanies those have very highly good8ill in the market+ -nd apart 1rom this 8hile pur0hasing they also use to give more 8eight age to return also+

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Oue+ (: -3lan that a respondent pre1ers to buy
SA NoA A B C D Par%!cular 3rote0tion 3lan Investment 3lan 3ension 3lan 4hildren 3lan Ka2e ') "? "# &'

50 45 40 35 30 25 20 15 10 5 0
Pr ot ec tio n $n #e st % Pe ns i ld re n en t on

Series1

INTERPRETATION50
Bn the basis o1 above analysis, 8e 0an say that people pre1er to buy prote0tion @ 0hildren plans mostly+

)h i

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Oue+ /: - 4ustomers< e:pe0tations 1rom Ei1e Insuran0e 4ompanies
SA NoA A B C D E Par%!cular Innovative 3rodu0ts -ttra0tive Riders Reasonable 3remium %etter 4ustomer Servi0e !igh Risk 4overage Ka2e ( & &' ') &&

50 45 40 35 30 25 20 15 10 5 0
$n no #a t i# e At tra ct i#e ce Pr e% Se r# i (i s* iu %

Series1

INTERPRETATION50
Bn the basis o1 above analysis, 8e 0an say that people e:pe0t better 0ustomer servi0e 1rom the insuran0e 0ompanies @ reasonable premium on their investment+

)?

Oue+ ): - !D94 Standard Ei1e Insuran0e 4ompany provides better 1a0ilities than I4I4I 3rudential Ei1e Insuran0e 4ompany
SA NoA A B C Par%!cular Ces o 4ant say Ka2e 5' & /'

70 60 50 40 Series1 30 20 10 0 +es ,o )ant"Say

INTERPETATION50
Bn the basis o1 above analysis, 8e 0an say that people are not a8are about these 0ompanies so 8e 0an not 0ome on any 0on0lusion+

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Oue+ >: -Is the respondent satis1ied 8ith the plan he boughtY
SA NoA A B C Par%!cular Ces o I haven<t bought any Re 7o" e /) ") "/

80 70 60 50 40 30 20 10 0 +es ,o -a#en.t Series1

INTERPETATION50
Bn the basis o1 above analysis, 8e 0an say that people are satis1ied 8ith the plans they have bought+

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Cha7%er0*5 Le o" Lear"%
 -gents play ma;or role in a8aring people about the bene1its o1 insuran0e+  3eople think insuran0e as a prote0tion tool+  3eople pur0hase insuran0e poli0y mostly 1or prote0tion purpose and some o1 people 1or saving+  The good8ill o1 the 0ompany also attra0ts 0ustomers to8ard a insuran0e 0ompany+  3eople also take insuran0e poli0y as a se0urity 1or their 0hildren+

=e re0ommended giving more opportunity to 8ork as a trainee in the 0ompany as 8ell as giving a 0han0e 1or the 0ompany to gro8+ Some o1 my suggestions are as 1ollo8s:  -dvertisement should be done on television and espe0ially 3osters and %anners+ This 8ill greatly help in raising a8areness level+  Insuran0e 4ompanies should sho8 more 0ommitment 8ith the 0ustomers+  3rivate 0ompanies give better servi0es to the 0ustomers as 0ompared to publi0 0ompanies+  The private 0ompany should 0reate good relations and 0ommuni0ation+  3rivate 0ompanies should 0ollaborate to spread a8areness regarding the bene1its o1 insuran0e plans provided by the 3rivate 4ompanies+  -gents have got ma:imum in1luen0e on 0ustomers+ They are the one 8ho introdu0es the prospe0t to di11erent poli0ies+ So agents should be given 1ull1ledged training and the training should be stri0t+

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Co"clu !o"5
Bn the basis o1 my study, I 0on0lude that, both the 0ompanies are providing very good 1a0ilities to their 0ustomers+ !D94 Standard Ei1e Insuran0e is the one that is providing 8avier o1 premium to its 0ustomer in 0ase o1 death o1 the li1e assured, 8hereas I4I4I is not providing this 1a0ility to its 0ustomers+

%oth the 0ompanies have same lo0k in period i+e+5 years+ Surrender 0harges o1 these 0ompanies are di11erent 1rom ea0h other+ Bn maturity, both the 0ompanies provide the amount eFual to the market value o1 the units+ 4harges taken to manage the 1und are di11erent in both the 0ompanies+

>5

B!8l!o2ra7h6 " 888+hd10insuran0e+0om 2&#th Sep, &#"&6 & 888+hd10insuran0e+0om 2&#th Sep, &#"&6 5 888+e0onomi0times+0om 2&"st Sep, &#"&6 ' 888+irdaindia+0om 2&"st Sep, &#"&6 ( 888+bimaonline+0om 2&#th Sep, &#"&6 / 888+google+0om 2&#th Sep, &#"&6

BROUCHERS
"+ !D94 Standard Ei1e Insuran0e &+ I4I4I 3rudential Ei1e Insuran0e

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A77e"#!ce

LueA .5 0 A9are"e -6 %6 46 D6

of HDFC S%a"#ar# L!fe I" ura"ce Co$7a"6J ZZZZZ ZZZZZ ZZZZZ ZZZZZ

3rint *edia Ale0troni0 *edia -gent Bthers

LueA ,5 03ha% %he 7eo7le %h!"< a8ou% %he I" ura"ceJ
A' e0essity 1or prote0tion se0urity ZZZZZ B' Imposition o1 a burden o1 e:penses ZZZZZ C' - 0ompulsory tool 1or ta: saving ZZZZZ

LueA @5 0 Ma!" co" !#era%!o" %ha% a cu %o$er loo< a% 9h!le 7urcha !"2 a" I" ura"ce Pol!c6J
-6 %6 46 D6 A6 Ta: Saving 3rote0tion 3ension Investment ZZZZZ ZZZZZ ZZZZZ ZZZZZ ZZZZZ

LueA 15 0 3ha% a re 7o"#e"% ee 9h!le 7urcha !"2 I" ura"ce fro$ %he co$7a"6J A' B' C' D' E' Standing and good8ill o1 the 0ompany ZZZZ 3rodu0t range o1 the 0ompany ZZZZ -dvertisement being released by the 0ompany ZZZZ Servi0es being given by the 0ompany ZZZZ Returns o1 bonus de0lared by the 0ompany ZZZZ

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LueA -5 0Pla" %ha% a re 7o"#e"% 7refer %o 8u6J
A' B' C' D' 3rote0tion 3lan Investment 3lan 4hildren 3lan 3ension 3lan ZZZZ ZZZZ ZZZZ ZZZZ

LueA *5 0 Cu %o$er M e;7ec%a%!o" fro$ L!fe I" ura"ce Co$7a"!e J
A' B' C' D' E' Innovative 3rodu0ts -ttra0tive Riders Reasonable 3remium %etter 4ustomer Servi0e !igh Risk 4overage ZZZZ ZZZZ ZZZZ ZZZZ ZZZZ

LueA +5 0 HDFC S%a"#ar# L!fe I" ura"ce Co$7a"6 7ro:!#e 8e%%er fac!l!%!e %ha" ICICI Pru#e"%!al L!fe I" ura"ce Co$7a"6J
-6 Ces ZZZZ %6 o ZZZZ 46 4an<t Say ZZZZ

LueA ?5 0I %he re 7o"#e"% a%! f!e# 9!%h %he 7la" he 8ou2h%J
A' Ces ZZZZ B' o ZZZZ C' I haven<t %ought -ny ZZZZ

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