Life insurance can be described as an agreement between an insurer and an insured.

As per the contract the insurer agrees to pay a stipulated sum when the insured passes away or at the end of the term period provided the insured is alive. As stated in the contract other important areas such as critical illnesses or terminal ailments are covered in the plans in such cases the insured are provided payment as soon as they are diagnosed with the said disease. However, it is important to remember that the payment patterns may vary according to the insurer. In addition, these policies often cover other expenses like costs of funeral. In life insurance terminology there is a difference between the policy owner and the insured. For example if someone buys a life insurance for his wife then the husband is the owner but the wife is the insured. As per rules, the owners are parties to the contract and have to pay the premiums. The beneficiaries get the money from the policy if something happens to the insured. The beneficiaries are chosen by the owner but like the insured they are not parties to the contracts. The beneficiaries can be changed by the owners if it is permitted in the contracts. If the policy laws state that such changes cannot be made then the permission of the original beneficiaries needs to be taken in case of the following changes: Beneficiary Cash value borrowing Policy assignments

In instances where the policy owner and insured are not the same person the companies tries to limit the policy buying options to one who have an insurable interest with regards to the insured. Having insurable interest means that if the insured passes away or if something bad happens to him or her then the one with insurable interest will be affected the most. More often than not the business partners and family members are ones who are likely to have an insurable interest.

Life Insurance Premium Payment

The premium of life insurance plans can be paid in two major areas either in a single sum or in regular periods as stipulated in the policy contract.

Advantages of Life Insurance

The major benefit of the holders of a life insurance policy is that they have a certain amount of mental peace and are secured in the knowledge that even if they pass away their near and dear ones will not suffer any problem and their lenders will be provided their money. Life insurance policyholders can also avail loans if they require it for an emergency. The best part is that the insured need not think of repayment in these cases as the amount is automatically deducted when the policy matures. Life insurance provides coverage for the entire life and also offers tax benefits. It also helps in dealing

with various liabilities and maintaining a certain lifestyle. Some life insurance policies also provide medical facilities.

Disadvantages of Life Insurance

The major disadvantage of life insurance is that it may prove to be expensive especially when the insured suffers from an ailment or if they are regarded as highly risky by the insurers due to factors like old age. These policies are not relevant if the insured does not have a family or any dependents as such. Yet another problem of life insurance is that the premiums normally go up with increasing age of the insured. In some policies no cash benefits are awarded if the policy holder does not pass away within the term period. This means that the premiums paid thus far are actually wasted.

Nature of Life Insurance Contracts

The life insurance contracts may be described as legally binding agreements, which describe the restrictions of events that are being covered. These contracts also mention the situations that will not be covered so that the liabilities of the insurer can be limited. Some general examples of such exclusions may be mentioned as below: Claims related to suicide Claims related to riot Claims related to fraud Claims related to civil unrest Claims related to war

In case of suicides the contracts specify a certain time period if within which the suicide happens the policy will be declared null and void. Under normal circumstances, this period varies between one to two years of buying the policy. The policy could also be cancelled if it is found that the policy owner provided false facts on the form. The policies also have a face amount, which is the initial sum that is paid when the plan matures or when the insured passes away. The final death benefit can be either more or less than this amount.

Types of Life Insurance Policies

Life insurance plans may be broadly categorized into two types investment based policies, and protection based policies. They may be further described as below: Protection plans The protection based plans are created in such a way that a benefit is provided when a certain event happens. The payment provided in these policies is normally a lump sum. The most common example of

this is term insurance. Investment plans The main aim in case of the investment based life insurance plans is to make sure that the insureds capital sees a substantial amount of growth. In these plans the premium can be paid at regular intervals or at one go. The different types of life insurance may be mentioned as below: Term insurance Group life insurance Permanent life insurance Senior life insurance Whole life plans Preneed life plans Universal life plans Unit linked insurance plans Limited pay policies Life annuities Endowment plans Pension plans Accidental death plans

Life Insurance Premiums The life insurance premiums are decided with three main objectives: Pay off the claims Make profits Pay off the administrative expenses

The costs of insuring an individual are decided by using the mortality tables that are created by actuaries. They, however, only provide a basis for further calculations and are used along with the family history and health of the insured. These factors also help in determining whether the applicant can be insured or not. Life insurance Major Purposes The underwriters normally decide the purpose for which the insurance is being availed. The most common reason is to make sure that the family and its financial interests are protected when the insured passes away. Other aims of availing a life insurance policy can include estate planning. In case of contracts with cash value, it could be planning for retirement. Life insurance can also be taken for covering sell and buy stipulations in business agreements or covering home loans. Life insurance Categorization of Applicants In general there are four major ways in which a life insurer will categorize the applicants preferred best, standard, preferred, and tobacco. Preferred best means that the applicants are absolutely healthy and do not have a troublesome medical history and is also not taking any medicines for any purpose

whatsoever. Being a preferred best applicant also means that the individuals extended or immediate family members do not have a previous record of having suffered from critical ailments like diabetes and cancer. Being a preferred candidate means that the applicant is only taking medication for an ailment and his or her family has suffered from certain diseases. Factors like profession, lifestyle, and travel can often determine how a person is looked at by the insurers. Life Insurance Death Proceeds When the insured passes away, the beneficiaries need to provide proper proof of death before the claims are settled. The bare minimum in these cases is a death certificate and a properly signed and filled up claim form. If the policy amount is a big one and the insured has passed away under suspicious circumstances then the insurer can launch an investigation into the same before coming to a decision on payment of claims. Payment can be done at one go in the form of a lump sum or as annuity, which means regular installments at definite periods of time. This is either done for as long as the beneficiary stays alive or for a certain period of time.

Top Life Insurance Policies in India

The following table shows the leading life insurance plans available in India: Insurer Bajaj Allianz Name of policy iGain III i-Secure CashRich Insurance Plan Insurance Insurance Plan Plan

Birla Sun Life Insurance

BSLI Wealth BSLI Guaranteed Wealth Plan Click2Protect Online HDFC Life Smart Woman Plan ICICI Pru iCare ING ING Star Life Jeevan Jeevan Akshay VI Met Monthly Income Plan Kotak Ace Investment Market Protection

Plan

HDFC Standard Life

Plan

ICICI Prudential Life Insurance ING Life Insurance

Shield

Life Insurance Corporation of India

Ankur

MetLife India Kotak Life Insurance

Plan

Kotak Assured Income Plan Tata AIA Life Insurance Tata AIA Life Insurance Suraksha Tata AIA Life Insurance Maha Raksha Supreme Aviva iLife Sahara Vatsalya Jeevan Bima ShriLife Wealth Money Shriram Ujjwal Life SP Bharti AXA Life eProtect Future Generali Smart Life IDBI Federal Termsurance Seniors Insurance Plan IDBI Federal Wealthsurance Milestone Plan IDBI Federal Childsurance Dreambuilder Insurance Plan IDBI Federal Lifesurance Suvidha Savings Insurance Plan IDBI Federal Hospitalization and Surgical Plan IDBI Federal Incomesurance Endowment & Money Back Plan IDBI Federal Loansurance Group Life Plan IDBI Federal Homesurance Protection Plan IDBI Federal Bondsurance Advantage Insurance Plan IDBI Federal Group Microsurance Plan Dream Secure Grow Smart Future Smart Plan iTerm WEALTHASSURE Smart Smart Smart Sanchay Plan Plan Plan Plan Kosh

Aviva Life Insurance Sahara Life Insurance Shriram Life Insurance

Plus Back

Bharti AXA Life Insurance Future Generali IDBI Federal Life Insurance

Canara HSBC OBC Life Insurance

AEGON Religare Life Insurance DLF Pramerica Life Insurance

Introduction Life Insurance Companies In India History &Future History Of Life Insurance Companies Till Life Insurance Corporation Established In India, insurance has a deep-rooted history. It finds mention in the writings of Manu

(Manusmrithi ), Yagnavalkya ( Dharmasastra) and Kautilya (Arthasastra). The writings talk in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day insurance. Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade loans and carriers contracts. Insurance in India has evolved over time heavily drawing from other countries, England in particular. 1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the last three decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire of India (1897) were started in the Bombay Residency. This era, however, was dominated by foreign insurance offices which did good business in India, namely Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard competition from the foreign companies. In 1914, the Government of India started publishing returns of Insurance Companies in India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies. In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for effective control over the activities of insurers.

HDFC HDFC Standard Life Insurance Company Limited was established on 14th August 2000 and is a joint venture between Housing Development Finance Corporation Limited (HDFC Limited), and a Group Company of the Standard Life Plc, UK. HDFC is Indias leading private financial company and Standard Life is a reputed international financial services company. In this venture, HDFC holds 74% of share and Standard Life holds 24%. HDFC Life Insurance Company Limited is Indias leading private insurance company offering wide varieties of individual and group insurance solutions. HDFC Standard Life Insurance has sufficient financial experts and advisers to administer long-term investments safely and resourcefully. Services and Plans HDFC Standard Life Insurance Company Limited has the credit of setting up many branches with wide network all over India. HDFC Standard Life Insurance Company also offers wide range of products with quality and genuine services. You can get all types of policies with excellent premium and finest return rates. HDFC Standard Life Insurance Company also provides quick and reliable claims settlements that attract new customers. Here are some of the finest products offered by HDFC Standard Life Insurance that meet all the requirements of an individual as well as of corporate and organizations. HDFC Life Insurance offers various types of insurance plans such as term insurance plans, health insurance plans, child insurance plans, retirement plans, child education plans, pension plans, ULIPs and saving and investment plans. You can buy HDFC life insurance plans online. If you buy the plan online you will save more money as compared to buying offline. Buying insurance policies online is hassle free, requires less paper work and is more transparent. HDFC Life has come up with a new online term protection plan: Click 2 Protect Plan. The Click 2 Protect Online Protection plan offers rupees 1 crore cover for a premium of rupees 8,600 per year. Click here to buy HDFC life Insurance plan online. We recommend to buy online so that you get better premium rates. HDFC Term Insurance and Protection Plans 1. HDFC Term Assurance Plan 2. HDFC Loan Cover Term Assurance Plan 3. HDFC Home Loan Protection Plan HDFC Health Insurance Plans

HDFC Critical Care Plan HDFC SurgiCare Plan

HDFC Childrens Plans

Childrens Plan Unit Linked Young Star II Unit Linked Young Star Plus II Unit Linked YoungStar Champion Personal Pension Plan Unit Linked Pension II Unit Linked Pension Maximiser II Immediate Annuity Unit Linked Endowment Plus II HDFC SimpliLife Unit Linked Endowment II Unit Linked Enhanced Life Protection II Unit Linked Wealth Maximiser Plus Unit Linked Endowment Winner HDFC Endowment Assurance Plan HDFC Money Back Plan HDFC Single Premium Whole of Life Insurance Plan HDFC Assurance Plan HDFC Savings Assurance Plan Group Term Insurance Plan Group Variable Term Insurance Plan Group Unit Linked Plan Gratuity Group Unit Linked Plan Superannuation Group Unit Linked Plan Leave Encashment

HDFC Retirement Plans

HDFC Savings & Investment Plans

HDFC Group Insurance Plans

AVIVA Life Insurance

Aviva

Life

Insurance Company

India

Limited

Aviva Life Insurance Company India Limited is a private insurance company and is a joint venture of Aviva, UKs leading insurance group and Dabur group of India. In this joint venture Aviva holds 26% share and the Dabur group holds 74% share. Aviva is not only a leading insurance company in UK but it is also recognized as fifth largest insurance company in the world. Aviva has been ensuring the lives of Indians since 1834. At the time of Indias independence Aviva was the largest foreign insurer in India in terms of the recompense paid by the Indian government. Services, Policies and Plans Aviva is known to be the first foreign insurance company to set up its representative office in India. It is the first insurance company to establish the concept of Bancassurance and has successfully leveraged its global expertise in this particular concept in India. Aviva Life Insurance Company India Limited has the credit of setting up 223 branches with wide network all over India. Aviva Life Insurance Company offers wide range of products with quality and genuine services. Whether it is health, home, motor or travel insurance, you can get all types of policies with excellent premium and finest return rates. Aviva Life Insurance Company also provides quick and reliable claims settlements that attract new customers and retain the old customers as well. Here are some of the finest products offered by Aviva Life Insurance that meets all the requirements of an individual as well as for corporate and organizations. Whole Life Insurance Plans

LifeLong Aviva Lifeline LifeShield Aviva LifeShield Plus LifeBond 5 LifeSaver SaveGuard

Aviva Life Insurance Term Plans

Endowment Plans

LifeSaver Plus LifeSaver Super Freedom LifePlan Aviva DhanVriddhi Anmol Suraksha Aviva Sachin Century Aviva Money Back Aviva EasyLife Plus Aviva Wealth Plus LifeBond Plus PensionPlus Secure Pension Aviva Pension Elite

Single Premium Plans

Aviva Pension Plans

Aviva Child Insurance Plans 1. Aviva LittleMaster 2. Aviva Young Scholar Aviva Health Insurance Plan

Aviva Health Plus

Aviva Group Insurance Plans 1. Group Gratuity 2. CreditPlus 3. LoanSuraksha 4. CorporateLife 5. CreditNet 6. Superannuation 7. GroupShield Rural Plans

Amar Suraksha Jana Suraksha

Aviva Life Insurance has come up with a new online term life insurance plan: Aviva iLife.Aviva i-Life term insurance plan offers rupees 1 crore life cover for just rupees 22 a day. This premium rate is for 30 years old non smoking male for a term of 20 years. Aviva i-Life term insurance plan also provide tax benefits under section 80C/10(10D) as per the applicable tax laws.

Bajaj Allianz Life Insurance- Overview

Bajaj Allianz Life Insurance is a combined venture of Bajaj Finserv and Allianz SE, which is one of the leading insurers. Allianz SE enjoys a global positioning as an insurance conglomerate and is among the top asset management service providers in the world as well. It operates in at least 70 countries across the world and has a minimum of 119 years' experience in the financial industry. At present Allianz SE manages assets whose combined worth is more than INR 5500,000 crores. Bajaj Allianz was incorporated on March 12, 2001 and initiated operations from August 3 in the same year. At present the insurer is managing assets worth INR 394.33 billion and it has a solvency ratio of 516.28%. It has won the Bloomberg UTV Award 2011 in the category named best utilization of information technology to transform business. The insurer has also received the SKOCH Financial Inclusion Award 2012 for its financial inclusion initiatives through the life insurance products. Its micro-insurance program named Sarve Shakti Suraksha has also been recognized at the same event. The micro insurance program has also been awarded several Certificates of Merit. The channel partners of Bajaj Allianz Life Insurance are Standard Chartered Bank, Team Life Care Co. (India) Ltd, and Dhanlakshmi Bank. Following are its major bankers:

Standard Chartered Bank HDFC Bank AXIS Bank Citi Bank Deutsche Bank

Bajaj Allianz Life Insurance Management

The chairman of Bajaj Allianz Life Insurance is Rahul Bajaj and its Managing Director and Chief Executive Officer is V Philip. The board of directors of the organization is made up of the following apart from the above mentioned officials:

Manuel Bauer Ranjit Gupta Sanjay Asher SH Khan

Niraj Bajaj Suraj Mehta Sanjiv Bajaj Manu Tandon David Fried

Bajaj Allianz Life Insurance Products

The various products of the insurer may be mentioned as below:

Individual Life Insurance Unit Linked Insurance Plans

Regular Premium - iGain III, Smart Insurance Plan III, Money Secure Insurance Plan, Max Advantage Insurance Plan, and Assured Protection Insurance Plan Single Premium - Shield Insurance Plan, Wealth Insurance Plan, and Flexi Advantage Insurance Plan

Traditional Insurance Plans

Endowment - InvestGain, Life Time Care, SaveCare Economy SP, and Super Saver Money Back - CashRich Insurance Plan, CashGain, Super CashGain Insurance Plan, and ChildGain

Term Insurance Plans

Pure Risk Cover - iSecure Insurance Plan, New Risk Care II, and iSecure More Insurance Plan Risk Cover + Loan Protection - iSecure Loan Insurance Plan, and Protector Risk Cover + Return of Premium - Term Care

Life + Health Insurance Plans

Family Care First Health Care

Pension Plans

Pension Guarantee

Woman Insurance Plans

Women Life Insurance

Additional Rider Benefits

Bajaj Allianz Family Income Benefit Bajaj Allianz Critical Illness Benefit Bajaj Allianz Comprehensive Accident Protection Benefit Bajaj Allianz Hospital Cash Benefit Bajaj Allianz Supplementary Death Benefit

Group Life Insurance Products

Group Credit Protection Plus Group Save Plus Credit Shield Group Term Life in lieu of EDLI Group Suraksha Group Leave Encashment Scheme Sarve Shakti Suraksha Group Annuity Group Loan Protector Group Superannuation Gold Group Income Protection Group Gratuity Gold Group Wealth Insurance Group Employee Benefit Group Term Life

Riders

Group Accelerated Critical Illness Rider Group Terminal Illness Rider

Micro Insurance

Alp Nivesh Yojana Saral Suraksha Yojana Jana Vikas Yojana

The board of directors at BSLI is made up of the following dignitaries:

Donald Stewart Kumar Mangalam Birla Ajay Srinivasan Jayant Dua Biswanath Puranmalka Dikran Ohannessian Gian Gupta Rakesh Jain Suresh Talwar Tarjani Vakil Venkatesh Mysore

Birla Sun Life Insurance Financials

The following table highlights the profit and loss details of Birla Sun Life in the first quarter of 2012-13 fiscal: Domain Amounts transferred from policyholders' account (technical account) Income from gross interest, rent, and dividend Profit on redemption and sale of investments Contribution to policyholders' account Profit before and after tax Figures in INR thousands 1,984,306 231,794 9282 752,316 1,471,791

Birla Sun Life Insurance Products and Services

The products of BSLI may be mentioned as below:

Protection Solutions BSLI Protector Plan BSLI Protector Plus Plan BSLI Premium Back Term Plan

Retirement Solutions BSLI Classic Life Plan BSLI Immediate Income Plan BSLI Dream Life Plan

Health and Wellness Solutions BSLI Health Plan BSLI Saral Health Plan BSLI Universal Health Plan

Children's Future Solutions BSLI Bachat Child Plan BSLI Dream Child Plan BSLI Classic Child Plan

Wealth with Protection Solutions BSLI Foresight Plan BSLI Money Back Plus Plan BSLI Dream Endowment Plan BSLI Bachat Moneyback Plan BSLI Vision BSLI Classic Endowment Plan BSLI Guaranteed Bachat Plan BSLI Wealth Max Plan BSLI Rainbow BSLI Wealth Secure Plan BSLI Bachat Endowment Plan BSLI Guaranteed Wealth Plan BSLI Platinum Advantage Plan

Rural Solutions

BSLI Bima Dhan Sanchay BSLI Bima Kavach Yojana BSLI Bima Suraksha Super

NRI Solutions BSLI Vision BSLI Platinum Advantage Plan

Group Solutions Gratuity: Group Value Plus Plan, Group Unit Linked Plan, and Guaranteed Interest Credit Leave Encashment: Group Unit Linked Plan, Group Value Plus Plan, and Guaranteed Interest Credit Affinity: Credit-Guard Mortgage Plans, and Group Asset Assure Employer Employee: Employees Deposit Linked Insurance Scheme, and Employer Term Insurance

Max Life Insurance Company- Overview

Max Life Insurance Company was established in 2000 and started its operations during 2001 and is presently one of the leading names in the Indian insurance industry. At present it is the biggest life insurer among the privately held non banking companies of India. It is owned by Mitsui Sumitomo Insurance Co. Ltd and Max India Ltd. Max India is one of the leading conglomerates of India while Mitsui Sumitomo Insurance is an MS&AD Insurance Group member. The group is presently one of the 10 leading providers of general insurance services across the world. Following are some of the major achievements of the insurer since its inception: Ranked 5th in 'India's Most Respected Companies' by Businessworld - 2004 and 2006 Received Asia Insurance Industry Award for Innovation - 2009 th Ranked 7 in "Best companies to Work For" and "The best life insurance company to work for in India" - 2008 by BT Mercer-TNS Survey Amongst the top 25 companies in 'Gallup Great Work Place' Award - 2009 Received the CIO 100 award for IT excellence - 2008 - 2011 Awarded the CII-Exim Bank Commendation Certificate for Business Excellence - 2008, 2009, 2010 ULIPs funds recognized as top quartile in performance by Outlook Money - 2008, 2009, and 2011

The organization has 7488 employees at present and 39,254 agents. Till the end of 2011 it has 111 MDRTs. It presently has 390 trainers. The major awards and recognitions won by the company may be mentioned as below: Year 2003 Award One of the 25 best companies in India with regards to work Provider Businessworld 2003 'Great

prospects 2006 Best Six Sigma Project

Workplaces of India' Sakal Six Sigma Awards 2006 Excellence

2006

Indo American Corporate Excellence Award for Best Indo-US Company in Financial Services Category One of the 3 leading Asia Life Insurance Company of the Year Award Gallup Great Work Place Award Golden Peacock Award for Excellence in Product Innovation for Max Vijay Asia Insurance Review

2007

2009

2009

CII National Six Sigma Recognition for Best Six Sigma Project The sole organization to have funds in the higher quartile in every fund category Outlook Money Survey

2012

QCI DL Shah Awards for Best Six Sigma Project on economics of Quality

Following are some of the first's achieved by Max Life Insurance: First organization to have provided a free look period of 15 days for the customers - later on IRDA made this mandatory First Indian life insurer to have provided different services to the agents and customers over phone First company to have started toll free lines for agent services First life insurer in India to have started service centers at the regional level First and the sole Indian life insurer to have put into practice the Lean methodology of service excellence in service industry First Indian life insurer to have been awarded ISO 9001:2008 certification

Max Life Insurance Company Management

The board of directors at Max Life Insurance comprises the following individuals: Name Analjit Singh Marielle Theron Anuroop Singh Designation Chairman, Max Life Insurance Co Ltd Director, Max Life Insurance Co Ltd Vice Chairman, Max Life Insurance Co Ltd

John Poole Rahul Khosla Rajesh Khanna Rajesh Sud Toshinari Tokoi Rajit Mehta

Director, Max Life Insurance Co Ltd Director, Max Life Insurance Co Ltd Director, Max Life Insurance Co Ltd CEO and Managing Director, Max Life Insurance Co Ltd Director, Max Life Insurance Co Ltd Executive Director and Chief Operating Officer, Max Life Insurance Co Ltd

Hideaki Nomura Director, Max Life Insurance Co Ltd Leo Puri Director, Max Life Insurance Co Ltd

The management team of the insurer may be enumerated as below: Name Rajesh Sud Prashant Tripathy Rajit Mehta Rajiv Mathur Ashish Vohra Sanchit Maini Shailesh Singh V Viswanand Anisha Motwani Designation CEO & Managing Director Chief Financial Officer Executive Director and Chief Operating Officer Director - Legal and Compliance Senior Director and Chief Distribution Officer Appointed Actuary Chief People Officer Director and Head - Products and Persistency Management Director and Chief Marketing Officer

Max Life Insurance Company Financial Details

The following table highlights some important financial details of Max Life Insurance for the first quarter of 2012-13: Domain Income from gross interest, rent, and dividends Figures in INR thousands 418,428

Profit on sale and redemption of investments Amortization of discount/(premium) Miscellaneous income Employee remuneration and welfare benefits Donations Interest and bank charges Travel, vehicle running, and conveyance expenses Rents, taxes, and rates Profit/(loss) before taxation Provision for taxation Profit/(loss) after tax

28,194 36,494 99 12,260 6000 448 7,508 161,220 295,549 140,000 155,549

Following are some other financial information about the insurer: Domain Paid up capital Sum assured Policies sold Assets managed Figures in INR 2127 crores 158,251 crores 62.18 lakh 18,023 crores

Max Life Insurance Company Products

The products of Max Life Insurance may be mentioned as below:

Protection Plans Max Life Premium Term Return Plan Max Life Platinum Protect

Child Plans

Max Life College Plan Max Life Shiksha Plus II

Retirement Plans Max Life Immediate Annuity Max Life Life Partner Plus Plan

Growth Plans Max Life Fast Track Plan Max Life Flexi Fortune

Savings Plans Max Life Life Gain Plus 20 (Par) Max Life Endowment To Age 60 (Par) Max Life Whole Life (Par) Max Life Life Gain Plus 25 (Par) Max Life Guaranteed Monthly Income Plan Max Life Life Pay Money Back Max Life 20 Year Endowment (Par) Max Life Life Gain Endowment

Strategic Plans Max Life Max Mangal Endowment Plan Max Life Max Amsure Bonus Builder Plan Max Life Max Vriksha Money Back Plan Max Life Future Secure

Health Plans Max Life LifeLine MediCash Plus Plan Max Life LifeLine Healthy Family Plan Max Life LifeLine Wellness Plus Plan

Group Plans Max Life Group Traditional Gratuity Plan Max Life Max Group Life Shield Max Life Group Credit Life Max Life Max Super Life

Group Life Riders Group Accidental Death Benefit

Group Terminal Illness Group Accidental Dismemberment Group Critical Illness Pre Payment Group Total Permanent Disability Benefit due to Accident and Sickness Group Critical Illness Additional Payment Group Total Permanent Disability Benefit due to Accident

SBI Life Insurance- An Overview

SBI Life Insurance is a joint enterprise of BNP Paribas Cardiff and the State Bank of India. SBI holds 74 percent of the overall shares and BNP Paribas Cardiff owns the remaining stake. The insurer has a paid up capital of INR 1000 crores and an authorized capital of INR 2000 crores. SBI Life Insurance has a special model of multi distribution that includes the following:

Bancassurance partners Institutional partnerships Retail agencies Corporate solutions distribution channels

Over the years SBI Life has been using its connections with the State Bank Group in order to market its products in combination with offerings such as personal loans and housing loans. The insurer can reach more than 100 million State Bank Group customers across the country and this enables them to get across to people from different economic levels and regions across the country. It also has at least 80 thousand insurance advisors in its agency channel that allows it to offer services on a door to door basis.

SBI Life Awards and Recognition

Following are some of the major achievements of SBI Life Insurance in 2011-12:

Conferred the most coveted NDTV Profit Business Leadership Award, in two consecutive years, 2010 and 2011 ICRA reconfirmed its iAAA rating thus pointing to the greatest ability to pay claims as well as a basically strong financial position Received the 'Most Trusted Life Insurance Brand - II from The Economic Times, Brand Equity and Nielsen, Most Trusted Brands 2011 Won the IMC Ramkrishna Bajaj National Quality Awards 2011- "Certificate of Merit", which can be regarded as one of the leading influential quality distinctions Became the world leader for the esteemed Million Dollar Round Table (MDRT) for owning the maximum number of MDRT members, for three straight years Received the Silver Shield by ICAI for Excellence in Financial Reporting for FY 2010 - 11 under the Insurance category

CRISIL reiterated its AAA / Stable rating - this ranking indicates the highest level of financial strength to make the payments for the policyholders Won 'Best Presented Accounts Award' from the South Asian Federation of Accountants (SAFA), in the Insurance Category for the Annual Report FY 2009-10

SBI Life Corporate Social Responsibility

Over the years, SBI Life has built up its brand reputation through programs that have reflected its focus on corporate social responsibility. Till date its most famous programs in this regard have been Gift Drishti, Read India Pledge, Gift Drishti Campus, and Read India Campus.

SBI Life Financial Details

The following table reflects the financial information of the 4 quarter of the 2011-12 fiscal for SBI Life Insurance: Domain Figures for 4 quarter in INR thousands 3,833,359
th

th

Figures till 4 quarter in INR thousands 5,969,365

th

Surplus/(deficit) from policyholders accounts Interest, rent, and dividend - net amortization Profit on redemption and sale of investments Other income Directors' sitting fees Expenses for board meetings Depreciation Additional expenses Contribution to policyholders' funds Profit/(loss before tax) Profit/(loss after tax) Balance at the beginning of the period/year

262,006

891,188

35,365

83,321

16,195 43 210 3382 316 1,419,856 2,835704 2,912,870 8,857,527

64,859 140 1692 13551 7924 1,419,856 5,558,214 5,558,214 6,212,183

Proposed final dividend Dividend distribution tax

500,000 81,100

500,000 81,100

SBI Life Products and Services

The products offered by SBI Life Insurance may be categorized into individual plans, health plans, and group plans. They may be further described as below: Individual Plans Unit Linked Plans SBI Life - Smart Performer SBI Life - Unit Plus Super SBI Life - Smart Horizon SBI Life - Saral Maha Anand SBI Life - Smart Scholar SBI Life - Smart Wealth Assure SBI Life - Smart Elite

Child Plans

SBI Life - Scholar II SBI Life - Smart Scholar

Pension Plans

SBI Life - Annuity Plus

Protection Plans

SBI Life - Smart Shield SBI Life - Swadhan SBI Life - Saral Shield

Savings Plans

SBI Life - Smart Money Back Insurance SBI Life - Shubh Nivesh

SBI Life - Flexi Smart Insurance SBI Life - Saral Life SBI Life - Sanjeevan Supreme

Group Plans Corporate Solutions Retirement Solutions

SBI Life - Kalyan ULIP Plus SBI Life - Swarna Jeevan SBI Life - CapAssure Gratuity Scheme SBI Life - Gaurav Jeevan SBI Life - CapAssure Leave Encashment Scheme SBI Life - Swarna Ganga SBI Life - Dhanrashi SBI Life - CapAssure

Group Protection Plans

SBI Life - Sampoorn Suraksha SBI Life - Suraksha Plus SBI Life - Credit Guard

Group Term with ROP

SBI Life - Swadhan (Group)

Group Loan Protection Products

SBI Life - RiNn Raksha

Group Savings Protection Products

SBI Life - Nidhi Raksha RP

Group Micro Insurance Plans

SBI Life - Grameen Super Suraksha SBI Life - Grameen Shakti

Health Plans SBI Life - Hospital Cash SBI Life - Group Criti9

In addition, it offers the following services:

Premium Calculator HLV Calculator Insurance Calculator Retirement Calculator Tax Calculator Easy Plan Finder Child Education Planner

Tata AIG Insurance company, one of the leading insurance company offering both life and general insurance, is a joint initiative of the Tata Group and American International Group,Inc(AIG). The ratio of stake holding of the respective companies is slated at 76:24. Tata AIG has over the years has created a name for themselves in the insurance sector of India. The company provides life insurance alongside an extensive range of general insurance products ranging from automobile, health, accident, property, home, travel to personal offering solutions to individuals as well as corporates and tries to serve all sections of people.

Tata AIG Life Insurance : Products

Tata AIG life insurance provides a wide range of products for the individuals (children, adults and for retirement planning), business organization and other association to meet their respective needs. Some of the policies committed to provide solutions to the individuals are as follows: For the children:

Life Assure Educare - Fund the education of a child. Life Invest Assure II - provides full life cover with guarantee of high returns. Life Assure Career Builder- provides financial help at cardinal stages of child's life Life Star kid - policy dedicated for child's career and marriage.

For the adults:

Life Assure Lifeline Plans - provides coverage at an affordable cost.

Life Assure 21 years Money Saver - provides cash payments at the end of every 3 years. Life Assure Golden Years Plan - policy offering safety as well as returns

Safety as well as returns

Life Health Investor - provides advantage on diagnosis of 12 critical illnesses and coverage in case of unfortunate death and full return of premium in case of no claim.

For the retiring group:

Life Investment Assure II - Provides life cover with full return. Life Investment Assure Gold - provides emergency cash and also post retirement income. Life Easy Retire - provides immediate annuity plan and Single premium payment. Life Nirvana Plus - Provides guaranteed addition of 10% of sum every 5 years.

For the corporate class :

Group Pensions Employee Benefits Work Place Solutions Credit Life.

Tata AIG General Insurance Products

Tata AIG Insurance offers a number of products in the general insurance category as well. The range of products includes individual insurance, small business insurance and corporate insurance to meet their respective needs. Some of the policies providing solution to the individuals in general category are:

Home Accident Policy Motor Travel

For Small businesses

Educational Institute - covers all schools, colleges, coaching institutes. Shop Insurance - covers all kinds of shops, shopping malls. Restaurant Insurance - covers all kinds of hotels and restaurants.

Society Policy - covers all housing societies. Office Policy - covers all business owners office.

For Corporates

Property Liability Accident and health Travel Corporate fleet.

The Company believes in being innovative and provide meaningful insurance solutions in the sectors covering life plans and general insurance. The Company channelizes its products through various distributors like agents, brokers, banks and direct channels like tele marketing, digital marketing, etc.

ING Vysya Life Insurance India is one of the leading providers of life insurance products and services in India. It has been catering to a million customers and more for at least a decade. 50% of its shares are owned by Exide Industries. 26 percent of ING's shares are held by ING Insurance International BV and the rest are owned by shareholders from India. The products of this organization are distributed through the following channels:

Tied Agencies Alliances Banc assurance partners

The Tied Agency medium is made up of at least 30 thousand advisors of ING Life who operate across India. ING Life is steadily increasing its network of bancassurance partners and also uses referral partners, brokers, and corporate agents to market its products and services.

ING Life Insurance India Management

The Board of Directors at ING Life is made up of the following officials: Name Rajan Raheja Designation Chairman

Kshitij Jain Satish Raheja NN Joshi Douglas Caldwell Rajesh Kapadia Frank Koster AK Mukherjee

CEO and Managing Director Director Director Director Director Director Director

The Executive Team of the organization may be enumerated as below: Name Kshitij Jain B Ashwin Rahul Agarwal Uco Vegter Designation CEO and Managing Director Chief Operating Officer Chief Distribution Officer Chief Financial Officer

ING Life Insurance India Financial Details

The following table reflects the financial highlights for the first quarter of the 2012-13 fiscal for ING Life: Domain Premium earned Income from interest, rent and dividend - gross Profit on redemption and sale of investments Miscellaneous income Contribution from shareholders' account Commission Operating costs for insurance business Figures in INR Thousands 2,715,975 878,289 606,371 8,703 157,560 169,684 1,089,673

Benefits paid (net) Interim bonuses paid Opening balance in funds for discontinued policies Transfer to funds for discounted policies Opening balance in funds for future appropriation Surplus transferred to balance sheet

2,132,941 440 23,290 28,371 68,471 41,084

ING Life Insurance India Products and Services

The products of ING Life Insurance may be mentioned as below:

Children Plans ING Aashirvad Creating Life Money Back Plan Creating Life Child Protection Plan

Protection Plans ING Term Life Plus ING Term Life

Savings Plans ING Secured Income Insurance Plans New 1. ING Secured Income Insurance RP 2. ING Secured Income Insurance Plus Reassuring Life Endowment Plan (Reversionary Bonus) ING Creating Star Guaranteed Future Safal Jeevan Endowment Plan

Retirement Plans ING Immediate Annuity

Investment Plans ING STAR Life ING Uttam Jeevan - Regular Premium ING Prospering Life SP ING Uttam Jeevan - Single Premium ING Market Shield Powering Life ING Prospering Life New Fulfilling Life

Riders Accidental Death Rider ING Critical illness Rider Accidental Death, Disability and Dismemberment Rider ING Critical illness Limited Pay Rider ING Term Life Rider

ING Life also offers its customers the services mentioned below: Renewal reminders Grievance redressal Customer information services

ING Life Insurance India Planning Tools

ING Life offers the following tools:

Child Calculator Investment Needs Minimum Insurance Needs The Financial Horoscope Savings Needs Premium Calculator Retirement Needs

MetLife India Insurance- An Overview

MetLife Insurance India is officially referred to as MetLife India Insurance Company Limited (MetLife) and has been operating in India from 2001. It is a part of MetLife Inc. MetLife has its head office in Bangalore

and is among the quickest growers in India as far as the insurance sector is concerned. It has 12 banking partners in the group and retail businesses, along with a firm network of brokers for its group and individual customers. It also has more than 30 thousand financial advisors. In addition to these, it operates an employee benefit business in association with at least 550 leading corporate entities in India. MetLife Inc itself is one of the top providers of insurance, employee benefit programs, and annuities throughout the world. It operates in 47 countries and caters to 90 million clients. Along with its affiliates and subsidiaries the organization has achieved prominent position in the following markets: US Asia Pacific Japan Europe Latin America Middle East

Following are the various values held in high regard by the insurer: Operating as a leader and being really successful and efficient through independent decisions that can help to get positive results Working with focused dedication towards management of fiscal resources with the aim of getting good fiscal results Focusing on employee excellence Operating all business in a true, fair, and sincere manner Functioning in a productive manner in order to attain a common purpose and also understanding the collective capabilities of different work groups To introduce and create original and new ways and ideas of doing things on a regular basis

MetLife Insurance India Campaigns

Following are the major campaigns initiated by the insurer in the last couple of years: Campaign name Safety Net Marriage School Payasam Expectant Father Real Happiness Ab Kahe Ki Worry Campaign date January 2003 November 2005 November 2005 November 2005 November 2005 January 2008 September 2009

Dada Dadi

March 2010

MetLife Management

The following individuals make up the management team at MetLife: Name Rajesh Relan Balachander Sekhar MSVS Phanesh Gaurav Sharma Subhashish Acharya Joydeep Mukherji Sanjay Vij KR Anil Kumar Sameer Bansal KS Raghavan Sanjay Kumar Designation Managing Director and Country Manager Director - Marketing, Products and Strategy Appointed Actuary Director - PNB Partnership Chief Distribution Officer Chief Financial Officer Head Bancassurance and Business Partnerships Director - Legal and Risk, and Company Secretary Director - New Business Development and Customer Retention Chief Operating Officer Head of Investment

MetLife India Insurance Partners

Following are the partners of MetLife: Geojit Securities Karnataka Bank Jammu & Kashmir Bank Karvy Consultants Punjab National Bank Mini Muthoottu

MetLife Financial Details

The following details show some crucial financial details of MetLife India Insurance for the 2011-12 fiscal: Domain Figures for final quarter of 2011-12 in INR thousands Figures till the final quarter of 2011-12 in INR thousands 19,194

Amounts transferred from or to the policyholders account (technical account)

19,194

Interest, rent, and dividend - net of 75,031 accretion/amortization of discount/premium Profit on sale investments and redemption of 7374

288,829

29,371

Expenses not directly related to the insurance business Profit after tax

676

2402

100,828

331,677

MetLife India Insurance Products

The products offered by MetLife may be enumerated as below: Individual Plans Child Plan Met Bhavishya Met Junior Moneyback Met Junior Endowment Met Smart Child

Savings Met Sukh Met Saral Met Suvidha Met 100

Protection Met Suraksha Met Suraksha Plus

Met Suraksha TROP

Met Mortgage Protector Plus

Rural Met Vishwas Met Grameen Ashray Met Suvidha Rural

Investment Met Dhan Samriddhi Met Smart One Met Smart Platinum Met Easy Super

Health Met Health Cash Met Health Care

Monthly Income Met Monthly Income Plan Met Monthly Income Plan 15 Pay Met Monthly Income Plan 7 Pay

Retirement MDMIP

Money Back Met Money Back

Group Plans Met Loan Assure Met Group Deposit Administration Scheme Met Group Life Met Group Gratuity Met Group Deposit Administration Scheme

Reliance Life Insurance specializes in insurance products that help in satisfying the protection and savings requirements of its policyholders. The organization aims at becoming one of the leading international providers of life insurance products and services. It is a part of the Reliance Capital group, which in turn is a member of the Reliance Group. Reliance Capital is already among the leading privately owned providers of financial services and is among the top 3 organizations in the banking and financial services sector. Following are some of the areas where Reliance Capital operates:

Asset management Communications Mutual funds Energy Stock broking Natural resources Life insurance Media General insurance Entertainment Proprietary investments Healthcare Private equity Infrastructure

Reliance Life Insurance Major Achievements Following are some of the major accomplishments of Reliance Life Insurance:

Till March 31, 2012 it is the biggest privately held life insurer for amount of policies sold for two straight years It has won the Best Non-Urban Coverage Award in the Indian Insurance Awards 2011 It has a large network comprising 150,000 counselors and 1230 branches Its Boundaries for Books Campaign has won the Silver prize at the Indian Digital Media Awards 2012 (IDMA) in the Best Use of Social Network - Social Cause and Best Integrated Campaign Social Cause categories It has sold more than 9 million policies According to the Most Trusted Services Brands 2011 survey of Brand Equity it is one of 3 most trusted brands of the insurance sector It is among the top life insurance providers that have received the ISO 9008:2001 certification

Reliance Life Insurance Management Team The following officials make up the Board of Directors at Reliance Life Insurance: Name Satya Pal Talwar Soumen Ghosh Rajendra Chitale Malay Ghosh Upendra Joshi Amit Bapna Takeshi Furuichi Designation Independent Director Non Executive Director Independent Director Executive Director and President Independent Director Non Executive Director Non Executive Director

The high level management team of the insurer is constituted by the following individuals: Name Malay Ghosh Saroj K Panigrahi Andleeb Rabbi Pournima Gupte SV Sunder Krishnan Manoranjan Sahoo Sunil Agrawal Murli Nambiar Designation Executive Director and President Head - Legal, Compliance and Company Secretary Chief Human Resources Officer Appointed Actuary Executive Vice President and Chief Risk Officer Head - Agency Chief Financial Officer Chief Technology Officer

Reliance Life Insurance Balance Sheet Category Share capital Reserves and surplus Policy liabilities Amount in INR 11,963,235 21,980,263 17,757,191

Provision for linked liabilities Funds discontinued for nonpayment of premium Non linked funds for future appropriations Linked funds - provision for lapsed policies that are unlikely to be revived Shareholders' investments Policyholders' investments Assets held for covering linked liabilities Loans Fixed assets Cash and bank balances Advances and other assets Current liabilities Provisions Debit balance in profit and loss account (shareholders' account) Claims, not policies, not regarded as debts Disputed and yet to be paid statutory liabilities and demands Policy related claims liabilities

157,113,331 367,100 495,120 1,697,435 9,975,585 18,512,455 159,177,866 317,009 69,603 1,995,536 2,945,484 6,040,201 561,671 24,862,011 152,725 163,105 180,283

Reliance Life Insurance Profit and Loss Account Category Amount shifted from account of policyholders Gross interest, rent, and dividends Profit on investments redemption and sale Amortization of discount and premium on investments Salaries and other expenditure Transfer to policyholders' fund Profit/loss before tax Amount in INR 3,539,967 328,897 258,239 30,627 122,154 296,142 3,725,713

Proposed final dividend Dividend distribution tax Reliance Life Insurance Products

478,529 77,629

Reliance Life Insurance provides products for both individuals and groups. For individuals it offers protection plans, child plans, savings and investment plan, and health plan. The products in the individual section may be enumerated as below: Protection Plans

Reliance Life Insurance eTerm Plan Reliance Endowment Plan Reliance Life Insurance Money Multiplier Plan Reliance Super Five Plus Reliance Term Plan Reliance Connect 2 Life Plan Reliance Simple Term Plan Reliance Whole Life Plan Reliance Credit Guardian Plan Reliance Cash Flow Plan Reliance Special Credit Guardian Plan

Savings and Investment Plans

Reliance Life Guaranteed Maturity Insurance Plan Reliance Life Insurance Classic Plan Reliance Life Insurance Classic Plan - II Reliance Cash Flow Plan Reliance Life Insurance Guaranteed Money Back Plan Reliance Endowment Plan Reliance Life Insurance Pay Five Plan Reliance Super Five Plus Reliance Life Insurance Classic Plan - Limited Premium Reliance Whole Life Plan Reliance Life Insurance Money Multiplier Plan Reliance Connect 2 Life Plan

Child Plans

Reliance Child Plan

Health Plan

Reliance Life Care for You Plan

In the groups section Reliance Life Insurance offers two types of plans - employers liability solutions and employee protection solutions. They may be further elucidated as below: Employer Liability Solutions

Reliance Life Insurance Group Leave Encashment Plus Plan Reliance Life Insurance Group Gratuity Plus Plan Reliance Traditional Group Gratuity Plan

Employee Protection Solutions

Reliance Jan Samriddhi Plan Reliance Group Term Assurance Plan Reliance Group Credit Shield Plan Group Term Insurance Plan - EDLI

The following products have been withdrawn by Reliance Life Insurance:

Reliance Life Insurance Highest NAV Advantage Plan Reliance Super Golden Year Value Term 10 Plan Reliance Life Traditional Golden Years Plan Reliance Money Guarantee Plan Reliance Life Highest NAV Guarantee Plan Reliance Super Golden Years Plus Term 10 Plan Reliance Wealth + Health Term 10 Plan Reliance Super Golden Years Term 10 Plan Reliance Life Money Guarantee Basic Plan Reliance Super Golden Years Basic Plan Reliance Life Money Guarantee Term 10 Plan Reliance Total Investment Series II Term 10 Plan - Pension Reliance Total Investment Series I Term 10 Plan - Insurance Reliance Super Automatic Investment Term 10 Plan Reliance Life Premier Term 10 Plan Reliance Super Automatic Investment Basic Plan Reliance Life Premier Basic Plan Reliance Super Market Return Plan Reliance Super InvestAssure Basic Plan

Total Investment Plan II - Pension Reliance Super Golden Years Basic Plan Reliance Wealth + Health Basic Plan Reliance Imaan Investment Basic Plan Reliance Life Secure Child Basic Plan Reliance Super Market Return Basic Plan Reliance Super Golden Years Plan Reliance Super Market Return Term 10 Plan Reliance Super InvestAssure Basic Plan Reliance Super Golden Years Value Basic Plan Reliance Life Secure Child Term 10 Plan Reliance Traditional Super InvestAssure Plan Reliance Super Golden Years Plan - Value Reliance Premier Life Reliance Wealth + Health Plan Reliance Super InvestAssure Plus Plan Reliance Golden Years Plan - Plus Reliance Life Super Golden Years Term 10 Senior Citizen Plan Reliance Secure Child Plan Reliance Super Invest Assure Plan Reliance Group Gratuity Total Investment Plan I - Insurance Group Leave Encashment Plan Reliance Super Automatic Investment Plan Reliance Imaan Investment Plan Reliance Super Golden Years Value Basic Plan

Reliance Life Insurance Premium Payment Choices The various ways through which Reliance Life Insurance policyholders can pay their premium may be mentioned as below:

Online Easy Bill outlets IVR - 30338181 and 1800 3000 8181 Bill Desk accounts Reliance Life Insurance branches Bill Junction accounts Axis Bank branches Electronic bill payment Stock Holding Corporation of India Limited branches Credit card YES Bank branches Electronic Clearing Services IDBI Bank branches

Policyholders can also download the Direct Debit Forms from the following address and pay their premiums: http://www.reliancelife.com/rlic/PayPremiumOnline/PayPremiumOnline/ECSandDDForm.pdf Reliance Life Insurance Claims Procedure The policyholders of Reliance Life Insurance can file their claims under the following categories:

Critical illness Survival and maturity benefit Accidental death benefit / total and permanent disability Wealth + Health Death EB claims

The claims can be sent to the closest Reliance Life Insurance branch or the Claims Department may be contacted in this regard:

Om Kotak Mahindra Insurance Company- Overview

Om Kotak Mahindra Insurance Company or Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture of Old Mutual PLC, which holds 26 percent of the shares and Kotak Mahindra Bank Ltd that has 74% of the shares. The organization started functioning from 2001 onwards. Kotak Life Insurance aims to provide its customers substantial value through consistent and high quality services along with a collection of products that provides both long term saving and protection benefits. It has more than 4 million clients and is among the leading insurers in India when it comes to growth.

Om Kotak Mahindra Insurance Company Management

The following officials constitute the management team at Kotak Life Insurance: Name Gaurang Shah Anand Dewan G Murlidhar Cedric Fernandes Sunil Sharma Designation Director Senior Vice President and Head, Business Impact Group Managing Director Senior Vice President and Chief Financial Officer Appointed Actuary

Elizabeth Venkataraman Sudhakar Shanbag Hitesh Veera

Senior Vice President and Head, Marketing

Chief Investment Officer Senior Vice President and Head, Operations, Customer Service, Underwriting & Claims Executive Vice President and Head, Human Resources Senior Vice President and Head, Group Business Executive Vice President and Head, Distribution & Strategic Initiatives Senior Vice President and Head, Financial Institutions Group Senior Vice President and Head, Information Technology

Sugata Dutta Sandip Shrikhande Suresh Agarwal Subhasish Ghosh Kirti Patil

Om Kotak Mahindra Insurance Company Financial Details

The following table highlights the details of the profit and loss account of Kotak Life Insurance for the first quarter of 2012-13 fiscal. Domain Income from interest, dividends, and rent gross - net of amortization Profit on sale/redemption of investments Expenses not directly related to insurance business Contribution to policyholders' funds Profit before tax Provision for taxation for current year Profit after tax Balance at the start of the year Profit/(loss) carried to balance sheet Figures in INR thousands 110,139 370 1158 68,129 41,222 8,246 32,976 506,052 539,028

Om Kotak Mahindra Insurance Company Products

The products of Kotak Life Insurance can be categorized into individual plans and group plans. The individual plans may be mentioned as below:

Protection Plans Kotak Saral Suraksha Kotak Eternal Life Plans Kotak e-Term/e-Preferred Term Kotak Assured Protection Plan Kotak Term Plan/Kotak Preferred Term Plan

Savings & Investment Plans Kotak Assured Income Plan Kotak Money Back Plan Kotak Platinum Kotak Surakshit Jeevan Kotak Single Invest Advantage Kotak Premium Return Plan Kotak Ace Investment Plan Kotak Gramin Bima Yojana Kotak Wealth Insurance Kotak Invest Maxima Kotak Endowment Plan

Retirement Plans Kotak Lifetime Income Plan Kotak Capital Multiplier Plan

Child Plans Kotak Child Advantage Plan Kotak Child Edu Plan Kotak Headstart Child Assure Kotak Child Future Plan

Kotak Life Insurance offers the following group plans:

Kotak Group Shield Kotak Group Assure Kotak Term Group Plan

Kotak Credit-Term Grouplan Kotak Complete Cover Grouplan Kotak Gratuity Group Plan

In addition, it offers Individual Riders and Group Riders as well and the Kotak Gramin Bima Yojana plan as part of its Rural insurance facilities.

Om Kotak Mahindra Insurance Company News

Kotak Life Insurance has launched the Kotak Assured Protection Plan on July 13, 2012. The plan offers a combination of savings and protection benefits. The plan provides coverage against death due to natural reasons and accidents as well. In case of accidental death the policyholder is paid 200 percent of the sum insured. The plan allows the premium to be waived off in case the insured is disabled due to some accident. It also pays 20 percent of the sum assured in case the policyholder is diagnosed with any one of the 12 specified critical illnesses. However, these benefits can be availed as long as the policyholder is younger than 70 years. The plan covers proposers who are yet to be 75 years old. In addition, the policy also pays the total sum assured once the term period of the policy ends. It must be said in this regard that the above mentioned benefits are not dependent on each other. For example, even if the insured has received a certain amount in any of the cases mentioned above, he or she will keep getting the other benefits as and when they are deemed necessary. There will be no deduction from the sum assured. The plan also enables the insured to be flexible with their premium payments for either a 15 year period or till the policy ends after the insured is 60 years old. In case of policies where the sum assured is higher, discounts on premium are chosen on the basis of the selected premium band. In addition, the insured can also avail a loan against the policy to satisfy any fiscal requirement that may come up when the policy is operational. In other news, the organization has also recently recruited Sunil Sharma as its Appointed Actuary. Sharma has at least 21 years' experience in the Reinsurance and Life Insurance industries of India, the UK, the US, and South East Asia. He has worked with the top life insurers in India as well as GE Financial Assurance and Swiss RE. Sharma is a trained Actuary and a fellow of Institute of Actuaries of India (FIAI) and Fellow of Institute of Actuaries, UK (FIA). He has served as the Chairperson of Advisory Group on Communication of Institute of Actuaries of India (IAI). He has also been a part of the Advisory Group on Peer, Stakeholder and International Relations of the same organization. Besides, he edits the Actuary India Magazine.