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INDEX

Preface............................................................................................................2 Acknowledgement.........................................................................................3 INDEX............................................................................................4 1. Executive Summery....... 6 2. Introduction.....7 2.1. Introduction to Insurance..................7 2.2. Brief History of Insurance........8 2.3. Purpose & need for Insurance...........................................................9 2.4. Types of Insurance .........................10 3. The Insurance Regulation & Development Authority..11 4. Company Profile.......17 4.1. Vision and Value of company....18 4.2. The HDFC Group...19 4.3. Group Companies of HDFC...........................................................21 4.4. Branch Profile of HDFC SL Vaishali Nagar......29 4.5. Products: At a Glance.. ......30 4.6. Market Analysis of Company.43 5. Swot Analysis.......45 6. Organisation Hierarchy Chart...................................................................46 6.1 Distribution Channel............48

7. HDFC SLS Key Strength..49 8. Research and Methodology of training...50 8.1 Objective of Research . 50 8.2 Methodology...51 8.3 Tools and Techniques used52 8.4. Data Analysis and interpretation53 8.5. Limitation of the Study..56 10. Conclusion............57 11. Recommendation.58 12. Questionnaire59 13. Bibliography........61

EXECUTIVE SUMMERY
The main objective of this project is to study Comparative Analysis of Unit Linked Products of HDFC SL with other ULIP products of various companies available in the market, and it was found that HDFC SL not only gives highest returns to its customers but providing value added services by giving risk cover to them. Beside this administrative structure of Company was also analyzed in the report to understand the functioning of the same at various levels. To create a picture regarding all these aspects analysis of Annual Report and fact sheet of HDFC SL were used mainly. Life Insurance in India has a huge potential for growth. Statistics reveal that only 25% of the insurable population in India is insured. And those insured are in need of still higher insurance cover. The cover 100% growth displayed by private life insurers indicates this huge untapped potential. Companies try to bring new products with special features. ULIP is the most innovative product of insurance which provide better returns with insurance coverage. HDFC SL is one of the leading players in this category. HDFC SLs Unit Linked Plans, which are aimed at providing the Financial Planning and Investments services to the Individuals, are one of the best products in their category. These products give best returns to the customers. HDFC SL is on the top in aspect of giving returns. HDFC SLs last two year returns were 47.4% which is very higher to its nearest competitor Tata AIG which having a return of 42.2%. Last but not least HDFC SL has wider horizons for engaging the BBA students in a better and hopeful profession.

INTRODUCTION
What is Insurance?
Every asset has a value for its owner and also for those who are benefited with the existence of that asset. Insurance is concerned with the protection of economic value of assets. All of us are interested in the creation of assets because: All assets have values. They yield income to the owner. They meet some other needs of the owner. They may provide satisfaction of some needs and also yield income to the owner. Every asset has normally an expected lifetime. During this period, it is expected to perform and provide income/comfort to the owner. The owner, being aware of this, plans the things in such a way that by the time the expected lifetime of the asset expires, he is ready with the funds required for its replacement. In this way, he ensures that the value or income from the asset is not lost. Well, this appears to be a fine arrangement provided the asset completes its expected lifetime! All assets carry the risk of being destroyed or damaged. But all assets may not necessarily get destroyed or damaged. Only in a few instances, the probability turns out to be true and the asset gets actually lost or destroyed by accident or some other unfortunate event before the completion of its expected lifetime. The owner and those deriving benefits from the asset will suffer because the arrangement to make available its substitute is not yet ready. Insurance is helpful in mitigating such adverse consequences. To sum up, assets are insured, as they are likely to be lost or made non-functional through an accidental occurrence. Insurance does not protect the assets. This means that insurance cannot prevent loss to the assets due to perils. Nor can insurance avoid the occurrence of the perils. It only compensates, may not be fully, the economic or financial loss resulting to the asset from such damage or destruction.

Brief History of Insurance


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The beginning of insurance business is traced to the city of London. It started with the marine business. Marine traders, who used to gather at Lloyds coffee house in London, agreed to share losses to goods during transportation by ship. Marine related losses included:Loss of ship by sinking due to bad weather in high seas. Goods in transit by ship robbed by sea pirates. Loss of or damage to the goods in transit by ship due to bad weather in high seas. The first insurance policy was issued in England in 1583.

Life Insurance in India


In India, insurance started with life Insurance. It was in the early 19 th Century when the Britishers on their postings in India felt the need of life insurance cover. It started with English Companies like... The European and the Albert. The First Indian insurance company was the Bombay Mutual Assurance Society Ltd., formed in 1870. In the wake of the Swadeshi Movement in India in the early 1900s, quite a good number of Indian companies were formed in various parts of the country to transact insurance business. To name a few:: Hindustan Co-operative and National Insurance in Kolkata; United India in Chennai; Bombay Life, New India and Jupiter in Mumbai and Lakshmi Insurance in New Delhi.

Nationalisation of Life Insurance in India


In 1956, life insurance business was nationalized and LIC of India came into being on 1.9.1956. The government took over the business of 245 companies (including 75 provident fund societies) who were transacting life insurance business at that time. Thereafter, LIC got the exclusive privilege to transact life insurance business in India

Purpose and Need for Insurance


Assets are likely to be destroyed or made non-functional due to accidental occurrences called perils. Assets can, therefore, be insured. A few examples of perils are: fire, floods, breakdowns, lightning, earthquake etc. Perils are the events. Risks are the consequential losses or damages. Possibility of damage to asset caused by any peril is the risk that asset is exposed to. Risk means uncertainty or unpredictability about future loss or damage, which may or may not happen. This refers to the losses, which may happen suddenly and unexpectedly. This is because of uncertainty about the risk that insurance plays the role. Insurance becomes relevant only if there are uncertainties of occurrence of event leading to loss/es. Insurance is done against the contingency of the happening of such events. No uncertainty No Insurance. We can say that a human life is also an income-generating asset. Human life may be lost due to unexpected early death or become non-functional following sickness or disabilities cause by accidents. If this happens by the time one is on the verge of retirement when his income is about to cease, he might have made alternative arrangements to meet his needs. But if this happens at a younger age when he is not expected to have made adequate alternative arrangement, those who are dependent on his income, will suffer. Insurance is necessary to help those dependent on his income.

MARINE INSURANCE FIRE INSURANCE MISCELLANEOUS INSURANCE VEHICLES Types of Insurance FURNITURE BUILDING AIRCRAFTS GENERAL INTANGIBLES

ONLY HUMAN LIFE INSURANCE INCLUDES IN THIS CATEGORY HUMAN BEINGS SICKNESS, ILLNESS AND OTHER ASSURANCE GIVEN IN THIS CATEGORY 6 LONG TERM CONCEPT

Basically there are two types of Insurances: Non-Life Insurance Life Insurance

INSURANCE

NON-LIFE INSURANCE

LIFE INSURANCE

THE INSURANCE REGULATORY & DEVELOPMENT AUTHORITY

GENERAL TERMS AND CONDITIONS APPLICABLE TO FINANCIAL COSULTANTS OF THE COMPANY


1. DEFINITIONS:
Unless the context otherwise requires i. Act means the insurance Act, 1938 and includes any amendment thereto or enactment there under; ii. Agent or Insurance Agent means an agent licensed under Section 42 of the insurance Act 1938 (as amended) and appointed by the Company and shall have the meaning set out in Regulations framed by the insurance Regulatory and Development Authority from time to time. Authority or the IRDA means the Insurance Regulatory and Development Authority constituted under section 3 of the IRDA Act 1999; Financial Consultant means and includes an Agent.

iii. iv.

2. CODE OF CONDUCT;
Every person who is appointed as Financial Consultant by the company and who holds a licence Section 42 of the Act, shall adhere to the model code of conduct as specified below:-

I. EVERY FINANCIAL CONSULTANT SHALL


a) identify himself and HDFC Standard Life insurance Company Limited, of whom he is an insurance agent to all the prospect; b) disclose his license to the prospect if so demanded; c) disseminate the requisite information in respect of insurance products offered for sale by his insurer and take in to account the needs of the prospect while recommending a specific insurance plan; d) disclose the scales of commission in respect of the insurance product offered for sale, if asked by the prospect; e) indicate the premium to be charged by the insurer for the insurance product offered for sale.

II. NO FINANCIAL CONSULTANT SHALL,


a) solict or procure insurance business without holding a valid license; b) induce or persuade any prospect to omit any material information in the proposal from, c) induce the prospect to submit wrong information in the proposal form or documents submitted to the insurer for acceptance of the proposal; d) behave in a discourteous manner with the prospect; e) interfere with any proposal introduced by any other insurance agent. f) offer different rates, advantages, terms and conditions other than those offered by his insurer.

III. EVERY FINANCIAL CONSULTANT SHALL:


with a view to conserve the insurance business already procured through him, make every attempt to ensure remittance of the premiums by the policyholders within the stipulated time, by giving notice to the policyholder orally and in writing.

3. ADVERTISEMENT AND PUBLICITY


Every Financial Consultant shall, during the conduct of his agency business, adhere to the provisions of the insurance Regulatory and Development Authority (Insurance Advertisement and Disclosure) Regulation,2000. In accordance with the advertisement regulations issued by the IRDA, the Financial Consultant are required to obtain prior approval in writing of the Company for issue of any advertisement, However in the following cases such prior written approval is not required. a) Advertisement developed by the company and provides to the Financial Consultant; b) Generic advertisement limited to information like the name, logo, address, and phone numbers etc of Financial Consultant; and

c) Advertisements that consist only of simple and correct statements describing the availability of lines of insurance, references of experience, service and

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qualifications; but making no reference to specific policies, benefits, costs or the company.

4. OTHER INSURANCE AGENCIES:


In accordance with Insurance Regulatory and Development Authority (Licensing of Insurance Agnets) Regulations,2000, an insurance agent can act on behalf of only one life insurer and one general insurer at one time. Hence the financial Consultants are needed to ensure that the do not take up life insurance agency of any other life insurer . He may however act as a general insurance agent for one general insurer, subject to his meeting the applicable regulatory requirements.

5. MINIMUM BUSINELL AND COMMISSION:


As our consultant, the Financial Consultant shall be entitiled to receive Commission on the premium generated by the financial consultant and the rates of the Commission will be informed to the Financial Consultant separately from time to time . While ensuring that the existing business continues, the Financial Consultant are also required to bring in minimum new business for the company which will entitle the financial Consultant ot a Net Effective premium at such rates as may be determined by the Company from time to time .

6. PAYMENT OF COMMISSION ON POLICIES ON OWN LIFE:


in terms of Rule 16-B of the insurance Rules,1939, an agent shall not be entitled to commission on any policy taken out by him on his own life unless he has secured policies on six different lives excluding his own and he has also been an insurance agent continuously from the time of his soliciting or procuring the first policy on each of such six lives or proposing on the policy of his own life, whichever is earlier, till the time when the policies on those six lives and the policy on his own life have all been issued.

7. PAYMENT OF COMMISSION IN CASE OF DEATH:

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In the event of death of an Agent, the commission payable to him under the provisions of clause (b) and (c) of section 44(1) of the Act, shall continue to be payable to his legal heirs, in any payable to his legal heirs, in any, for so long as the commission would have been paid to the Agent if he were alive.

8. PAYMENT OF COMMISSION IN CASE OF TERMINATION:


Where the agency contract has been terminated for reasons other than fraud, the commission on renewal premium shall be paid in accordance with the provisions of clauses (a),(b) & (C) of the proviso to section 44(1) of the Act.

9. CHARGES:
Every agent shall at the time of applying for Agency, pay a sum of Rs.800/- to the Company towards licensing and examination fees and franking charges. the said rates are subject to revision in accordance with the applicable rules and regulations.

10. QUALIFICATION OF AGENT


the person must be at least 18 years old. Must have passed at least 12 th standard or more (if he is appointed in a place with population of 50,000 or more), 10th standard otherwise. Have undergoes training for at least 100 hours in life or general insurance business as the case may be from an institute, approved & notified be the authority. should have also passed the pre-recruitment examination conducted by the insurance institute of India or any other examination body recognized by the authority.

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11. DISQUALIFICATION OF AGENT


A Financial Consultants licence is liable to be cancelled If the Financial Consultant suffers, at any time during the currency of the licence, from any of and the disqualifications mentioned in sub-section (4) of Section 42 of the Act, and the Company may recover from him the licence and the identity card issued earlier along with all other document, literatures, booklets tables etc. that belong to the company. the disqualifications mentioned in Sub-section(4) of section 42 of the Act are: a) That the person is a minor, b) That he is found to be of unsound mind by a court of competent jurisdiction; c) That he is found guilty of criminal misappropriation or criminal breach of trust or cheating or forgery or an abatement of or attempt to commit any such offence by a court of competent jurisdiction. d) That in the course of any judicial prodeeding relating to any policy of insurance or the winding up of an insurance company or in the course of an investigation of the affairs of an insurer, it has been found that he has been guilty of or has knowingly participated in or connived at any fraud, dishonesty or misrepresentation against an insurer or an insured; e) That he does not possess the requisite qualification and practical training for a period not exceeding 12 months, as may be specified by the Regulations, made by the Authority in this behalf; f) That he has not passed such examination as may be specified by the Regulation made by the authority in this behalf;

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COMPANY PROFILE OF HDFC SL INSURANCE

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VISION & VALUES

Our Vision The most successful and admired Life Insurance Company, which means that we are most trusted company, the easiest to deal with, offers the best value for money, and set the standards in the industry. In short, The most obvious choice for all. Values Integrity Innovation Customer Centric People Care Team Work Joy & Simplicity

The HDFC Group

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HDFC was incorporated in 1977 with two primary objectives - to enhance housing stock in the country through housing finance systematically and professionally and promote home ownership. Today they are the largest residential mortgage finance institution in India, with a net worth of Rs. 2,703 crores as of March 31, 2002 and an asset base of over Rs. 22,000 crores. HDFC also aim to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets. Over a span of 25 years, HDFC has become the pioneer in housing finance in India and made it possible for over two million families to own their homes, through housing loans worth over Rs. 42,000 crores. At HDFC, they have turned the concept of housing finance for the growing middle class in India into a profitable, professionally managed, world class enterprise. HDFC have also copromoted financial intermediaries in various fields such as banking, realty services, asset management, securities trading, life Insurance as well as general Insurance, call centers and BPO services. HDFC has demonstrated the viability of market oriented housing finance in a developing country. The World Bank considers us a model private sector housing finance company in developing countries and a provider of technical assistance for new and existing institutions, in India and abroad. Their re-engineering has always centered around the customer in retail markets on both sides of the balance sheet, i.e. loans are given to individuals and deposits are accepted from individuals. A positive personalized approach towards our customers' needs has been HDFCs goad and motto. HDFC is also the largest mobiliser of retail deposits in the private sector outside the banking circle. Their deposits have been awarded the highest safety credit rating 'FAAA' & MAAA by CRISIL and ICRA respectively for eight consecutive years. Today, their deposit base is over 10,000 crores - a depositor base of over 13 lacs and a network of over 50,000 deposit agents. A wide geographical spread of activities in India, through their branch network of over 130 offices, over 80 outreach locations and the HDFC BANK branch network enables us to offer loans and deposit services to individuals in over 2,400 towns and cities across the country. They also have an international office in Dubai, U.A.E. and service associates in Kuwait, Oman, Qatar, Saudi Arabia and Bahrain to service Non-resident Indians. While being a household name in India and the undisputed market leader in the fields of housing finance, their social responsibilities have remained in focus. HDFC continue to

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make consistent efforts towards economic and social upliftment of the marginalised sections of society by offering customized financial assistance. This is done through strong associations and partnerships with several NGOs, voluntary agencies and other development institutions ensuring effective implementation of projects and improved sustainability at community levels.

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GROUP COMPANIES OF HDFC


HDFC Bank Limited HDFC Securities Limited HDFC Asset Management Company Limited Home Loan Services India Pvt. Ltd. HDFC Standard Life Insurance HDFC Deposits HDFC Chubb Intelenet HDFC Realty Ltd.

HDFC Bank Limited

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The bank was incorporated in August 1994 in the name of HDFC Bank Limited, with its registered office in Mumbai. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Awards
Best Listed Bank of India by Businessworld. Best Domestic Bank by The Asset Magazines Triple A Country Award. Best Local Cash Management Bank2006 in Large and Medium segmentsAsiamoney Awards Best Bank in India in 2006Euromoney Awards

HDFC Asset Management Company Ltd.

HDFC Asset Management Company Ltd. (AMC) was incorporated under the Companies Act, 1956; on December 10, 1999 and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated June 30, 2000.

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HDFC Asset Management Company Ltd. (AMC) is one of the most growing Mutual Fund Company of India.

Awards
HDFC mutual fund was recently awarded the CNBC Moddys investor service award for the best performing fund house for the one year category. Zurich also received the best performing fund house award for the three year category.

Home Loan Services India Pvt. Ltd.

Home Loan Services India Private Limited is a wholly owned subsidiary of HDFC Ltd. The company has been floated as a distribution arm of HDFC with an objective of offering doorstep service to prospective clients of HDFC group. HLSIL offers financial management solutions to individuals encompassing among other products Home Loans, Life Insurance, Mutual Funds, Fixed Deposits and property solutions. Home Loans: HLSIL is present in over 100 locations across the country with 39 offices and over 1600 employees. Financial Management: HLSIL offers financial management solutions in 9 cities and is continuously expanding its reach. HLSIL employs sales persons across all spectrums of financial management enabling them to meet a range of financial needs. HLSIL values integrity, commitment, teamwork and excellence in customer service. Our most valuable assets are our Human Resources. HDFC are truly proud that today we have a highly motivated team of sales persons and that they have the lowest employee turnover rate in the Industry.

HDFC Chubb

Its partnership that leverages the strengths of two financial powerhousescombining the trust and local experience of HDFC, Indias premier financial services company, with the 120 years proven expertise of CHUBB, a global leader in non-life insurance backed by a network of 134 offices in 31 countries. 19

With more than $30billion in assets, The Chubb Corporation is one of the worlds largest, financially strongest, non-life insurance companies. Founded in New York in 1882, Chubb today provides property and casualty insurance through more than 10,000 employees in 32 countries of North America, South America and Asia. Chubb also works closely with 5000 independent agents and brokers worldwide.

Motor Insurance
We understand and care for your vehicle beyond just the policy issue and speedy claims. HDFC Chubb's Motor Insurance product mainly focuses on Motor Package Policy for private cars & two wheelers.

Home Insurance
With Home Insurance, we will offer you cover for your home and belongings against fire and burglary. Our Home Insurance will bring you the convenience of purchase from HDFC's home loan counters.

Accident & Health Insurance


Accidents can happen anywhere and at anytime, which is why the HDFC Chubb Accident and Travel policy is designed to protect you from the financial consequences. Avail of the Group Accident Policy, Hospital cash-Accident policy and Business Travel policy.

Intelenet

Intelenet is a leading BPO service provider with the focus on providing solutions to global Organizations seeking to reduce the cost while consistently maintaining superior

level of standards two leading global investorsHDFC and Barclays--provide the financial banking Intelenet needs to lead in a global marketplace. Barclays is a venerable financial

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services group headquartered in the United Kingdom, ranking amongst the services group headquartered in the United Kingdom, ranking among the Top 10 banks in the world based on market capitalization. Intelenet impacts your business by seeking to reduce costs while consistently maintaining superior levels of service. Our solutions extend across all strata of BPO, technology and consulting.

Awards Deloitte Technology Fast 50 India 2005 Program


Intelenet Global Services has been ranked first among BPOs while standing third overall in the Technology, Media and Telecommunications (TMT) sectors across India.

Deloitte Technology Fast 50 India 2006 Program


Intelenet Global Services has continued its ranking, second time in a row, as amongst the top 50 fast growing technology companies in India.

Maharashtra Information Technology Awards 2005


Intelenet Global Services came in a close second in the IT Enabled Services category at the Maharashtra Information Technology Awards2005.

HDFC Deposits

DEPOSITS HDFC has instituted well-defined service standards for both depositors and deposit agents. HDFC has been able to mobilize deposits from over 10 lac depositors.

Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs. 8,741 crores in March 2006. Much of this success can be attributed to its strong brand image, superior

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services, security and above all, the significant contribution made by HDFCs deposit agents. HDFC has over 50,000 deposit agents and distributes all its retail savings (deposit) products primarily through this channel.

Awards
HDFC has been awarded AAA rating and MAAA rating for its deposits from both CRISIL and ICRA for the twelfth consecutive year, representing highest safety as regards timely payment of principal and interest.

HDFC Realty Ltd.

Realty Limited HDFC Realty Ltd. is a new, organized electronic marketplace for properties, to provide the entire gamut of real estate services, bringing together the click world and the bricks world in a revolutionary and user-friendly way. It makes available the best guidance and the most professional, transparent, efficient service to the real estate customer. HDFCrealty.com brings together Indias most exhaustive database of properties. It acts as a one-stop online hub for information, comparative analysis, transactions, market reach and comprehensive professional services.

HDFC Securities Ltd.

SECURITIES

HDFC Securities Ltd was promoted by the HDFC Bank & HDFC with the objective of providing the diverse customer base of the HDFC Group and other investors, a capability to transact in the Stock Exchanges & other financial market transactions.

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HDFCsec provides you with the necessary tools to allocate, select and manage your investments wisely, and also support it with the highest standards of service, convenience and hassle-free trading tools.

HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK, and leading providers of financial services in the United Kingdom. HDFC as on March 31, 2007 holds 81.9 per cent of equity and Standard Life was holding 18.1 in the joint venture.

Highlights
First life insurance Company in the private sector to get license from the regulator IRDA. First life insurance Company to come out with Term Assurance Plan. First private life insurance Company to declare bonuses consecutively for 6 years from inception. First life insurance Company to introduce open option to the pension plan policyholders. First life insurance Company to introduce Automatic Allocation Option to all the policyholders under Unit Linked Plans. Only life insurance Company to give 24 free switching option to Unit Linked Policyholders. HDFC is one of the fastest growing Private Life Insurers and today have more than 8 lakh policyholders. HDFC have one of the widest networks with more than 160 branches and servicing over 440 towns.

HDFC Standard Life Insurance Company has one of the highest brand recalls of around 86%. (Source: AC Neilson ORG MARG, September 2005). A high brand recall translates to higher chances of customers buying insurance from them.

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Profile of Standard Life

The Standard Life Assurance Company ("Standard Life") was established in 1825 and the first Standard Life Assurance Company Act was passed by Parliament in 1832. Standard Life was reincorporated as a mutual assurance company in 1925. The Standard Life group originally operated only through branches or agencies of the mutual company in the United Kingdom and certain other countries.

Market leader in the Housing Finance Sector Over 2 million satisfied customers Over 1,00,000 Crores in Loan Approvals Ranked as Indias 3rd Best Managed Company by Finance Asia2005

Serving customers for over 180 years Currently administers 125 billion in assets Voted 5 Star Life & Pensions provider for last 10 years

250 Branches 11,00,000 Customers Multiple Products - Protection - Unit Linked - With Profit More than 8 lakh policyholders Servicing over 440 towns in India

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BRANCH PROFILE OF HDFC SL, VAISHALI NAGAR

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With time and patience the leaf of the mulberry becomes satin.
HDFC Standard Life Insurance Companys branch at Vaishali Nagar, Jaipur was started in 14 December 2006. It was started with the aim to provide best of Insurance services with the core values of Integrity and Customer Centric Behavior. There is another branch at CScheme, Jaipur, which is the head branch in this region. Another branch of the company is going to open shortly at Tonk Road. HDFCSLIC Ltd. Vaishali Nagar, Jaipur has excelled in all its services. It offers almost all products of the Company. Some of them are saving plans, pension plans, various investment plans etc. It has a well-planned organization structure. This branch is integrated by 4 branches, Jaipur-III, Jaipur-IV, Jaipur-V and Jaipur-IX. All the branches headed by Territory Manager Mr. Sumeet Chugh and Branch Managers Mr. Siddarth Singh (Jaipur-III), Mr. Rajesh Gupta (Jaipur-IV), Mr.Utkarsh Upadyaya (Jaipur-V), Mr. Chardra Shekhar Paliwal (Jaipur-IX), and other staff members working in various departments and dealing in each of the products. Under each Branch Manager there are around 8-12 Sales Development Managers (SDM), who takes the responsibility of promoting and selling of HDFCSLICs products.

PRODUCTS: AT A GLANCE
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Endowment Assurance Plan


Savings for a better tomorrow Introduction
The Endowment Assurance Plan is a with profits savings contract which aims to give good maturity values to the client by investing the funds as per the IRDA guidelines and reducing claims and costs. The aim of the plan is to pay good maturity values so that the savings objectives of the policyholders are met.

Need for the Plan


The Endowment Assurance Plan is designed to provide a solution to the long term financial needs. It is often felt that people save only when their income is more than their expenses. To put it bluntly if a person can earn more than what he can spend he can save. In reality this is not the situation as one finds that it is impossible to save with the current level of expenses. Why does this happen? Expenses are a function of our needs, which arise due to our wants. We all know that the wants of a human being are unlimited. Consequently the needs keep on increasing and often increase at a rate higher than the rate of growth of income. Income on the other hand is limited and often grows at a much lower rate than the needs. Consequently it is difficult to save. There are various savings options available in the market; however most of the options are short-term or medium term. Life Insurance savings plans are a better choice as in addition to providing the vehicle to save for long term the plans also offer insurance on the savings. Income does not increase with every requirement for finance. Childrens education, marriage, housing etc. require lump sum amounts. In case any person has a responsibility to spend on these kinds of long-term events, he would have a need for the product.

Positioning of the Endowment Assurance Plan

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The Endowment Assurance Plan can be positioned as along term savings vehicle with a cover on the savings. The plan is suited to help in building a fund for long term financial needs. The guarantees in the nature of sum assured and the bonuses assure the client of a smoothened long-term return. The philosophy and practices of the company can help in building the maturity values for the client and hence positioning the company is also important in the sale of the Endowment Assurance Plan.

Money Back Plan


Plan with periodic survival benefits Introduction
The Money Back Plan is a with profits savings contract which in addition to the payment of periodic survival benefits aims to give good maturity values to the client by investing of funds as per the IRDA guidelines and reducing claims and costs. The aim of the plan is to pay periodic survival benefits and build good maturity values so that the short term, medium term and long-term savings objectives of the policyholders are met. The net returns to the policyholders at the time of maturity would depend on the investment and cost experience during the term of the contract.

Need for the Plan


The Money Back Plan is designed to provide a solution for the short-term, medium term and long term financial needs. It is therefore important to understand the financial needs before suggesting the plan as a solution. Since people have some short term and medium term and medium term financial goals like providing for a vacation, purchasing of a luxury item or house renovations etc, they require money periodically in short intervals to meet these goals. The Money Back Plan is designed to provide money periodically so that the same can be used for such requirements. The added advantage of the Money Back Plan is that the risk cover keeps on adjusting during the term of the contract and the policyholder is assured 28

payment of the full sum assured together with the bonuses irrespective of the survival benefits paid on death of the life assured during the term. All the arguments on the need to save and savings being a better option than raising a loan are applicable while selling the money back plan.

Positioning of the Money Back Plan


The Money Back Plan can be positioned as a long-term savings vehicle with provision for short and short and medium term lump sum payments. The plan also has a cover on the savings, which adjusts every time survival benefits are paid. The plan is suited to help meet periodical expenses with some payment at the end of the term. The guarantees in the nature of survival benefits, sum assured and the bonus assure the client of a smoothened long-term return. The philosophy and practices of the company can help in building the maturity values for the client and hence positioning the company is also important in the sale of the Money Back Plan.

Childrens Plan
Plan designed for the benefit of children Introduction
The Childrens Plan is a with-profits savings contract designed for the benefit of the child. The plan therefore has a provision for a beneficiary, which can be the child, and all benefits under the plan would be paid to the child. The funds generated under the plan are invested as per the IRDA guidelines. The net returns would depend on our investment and cost experience during the term of the contract.

Need for the Plan

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Most parents feel that it is their responsibility to provide the best for their children. In addition to the physical and emotional wants children also need to be provided for financially. There are two types of financial needs of the child: I. Short term financial needs for food, clothing shelter and education. This need is mostly met from the income of the parent II. Long term financial need for higher education, marriage and start in life. The alternatives for this are either to save or raise loans. In the event of an early death of the parent the child become dependent of one of the close relative. To ensure that the child would be taken care even after such an eventuality the parent can look at providing an income as well as lump sum amounts for the benefit of the child. The Childrens Plan is designed to help the parent in planning for the above financial needs of the child. All the arguments on the need to save and savings being a better option than raising a loan are applicable while selling the Childrens Plan.

Positioning of the Childrens Plan


The Childrens Plan can be positioned as a long term savings vehicle specially designed to meet the financial requirements of the child. The plan provides for both the immediate financial needs and the long term financial needs. In case the client is not worried about the immediate financial needs of the child on his death then the maturity benefit option would be suitable to him. The sum assured payable on the death in a double benefit option would help in providing for the immediate financial needs of the child. The Accelerated benefit works exactly like and endowment assurance plan. The guardian of the child would have an option of either to spend the money for the immediate benefit of the child or to save the claim amount for a future benefit.

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The maturity benefit and the double benefit could be so positioned as to pay money for higher education or marriage of the child. This benefit would be payable irrespective of whether the parent is living or dead.

Term Assurance Plan


Protection of Income Introduction
The Term Assurance Plan is a without profits protection contract designed to protect the income earning capacity of the life assured. The present earning capacity of the client therefore forms the basis of the insurance.

Need for the Plan


Uncertainty is a part of life. In the event of death of the breadwinner the dependents are put to a lot of financial difficulty as they lose the source of income. The problem is compounded in case the family does not have savings to rely on. In case a person has dependents and also does not have savings on which the family can rely on in the event of his death, he needs to protect his income for the benefit of the family. Term Assurance Plan is designed to offer the protection of the income at the least possible cost. Term Assurance Plan can also be used to cover liabilities so that in the event of death the family receives a lump sum amount so that liabilities are paid off. Term Assurance is an insurance of income and hence the existence of liabilities is not the basis of granting the insurance.

Positioning of the Term Assurance Plan


The Term Assurance Plan can be positioned as an income protection plan to protect the income in the event of the death. The plan can also be used to cover liabilities of the life assured. The plan can also be issued to companies and partnership firms as partnership insurance.

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The Term Assurance Plan with the ASA rider modifies the cover to pay the sum assured on death or critical illness whichever is earlier. This cover can be very beneficial when the liabilities are covered by the plan, as the liabilities would be repaid on critical illness. We can position Term Assurance Plan to as to cover the future so that in case of death before they complete the savings the family would be provided with a lump sum amount to meet the future expenditure.

Loan Cover Term Assurance Plan


Protection of Loans Introduction
The Loan Cover Term Assurance Plan is a without profits decreasing cover protection contract designed to protect the outstanding loans of the life assured. The plan is designed to cover loans however the plan will be granted only in case the client has sufficient income to back the insurance.

Need for the Plan


Uncertainty is a part of life. In the event of death of the breadwinner the dependents are put to a lot of financial difficulty as they lose the source of income. The problem is compounded in case there are outstanding loans. The Loan Cover Term Assurance Plan is designed to cover outstanding loans at the least possible cost.

Important
Although the plan is named as Loan Cover Term Assurance Plan the plan is basically a decreasing cover term assurance. The plan is not linked to a loan and the client can choose to purchase this plan even in case he does not have a loan. The sum assured would decrease at a predetermined rate and is not linked to the decrease in the loan amount. Care has been taken to ensure that the sum assured would be sufficient to pay most of the loans. The plan does not guarantee payment of the outstanding loan.

Positioning of the Loan Cover Term Assurance Plan


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The Loan Cover Term Assurance Plan can be positioned as protection to cover outstanding loans. The Loan Cover Term Assurance Plan with the ASA rider modifies the cover to pay the sum assured on death or critical illness whichever is earlier. This would mean that in case the client contracts a critical illness the plan would pay an amount sufficient to cover the outstanding loan.

Single Premium Whole of Life Insurance Plan


Plan designed to give long-term real growth Introduction
The Single Premium Whole of Life Insurance Plan is a with profits investment contract which aims to give long tem real growth to the client by investing the funds as per the IRDA guidelines and reducing claims and costs. The aim of the plan is to generate long term real growth, providing guarantees at specific times during the term of the contract.

Need for the Plan


The Single Premium Whole of Life Insurance Plan is designed to help the client in longterm investment. It is therefore important to understand the problems associated with investments to sell the plan better. However all investment is associated with risk. The higher the risk one takes, the better the chances of getting a better return. Investment is all about taking risks. Various investment instruments are available in the market and the client has to choose from the investment option available. This investment instruments are designed to meet short-term, medium-term and long-term objectives. If an instrument is designed for a short term the same is not suitable for achieving a long term objectives. This is because the instrument would terminate in the short term and the client would be exposed to

33

reinvestment risks. Long-term investments designed to provide real growth is a solution to the long-term needs. The Single Premium Whole of Life Insurance Plan is designed to remove this problem of the investors by giving insurance in the form of guarantees on death and at specific time intervals so that the returns at these guaranteed periods do not depend on the market conditions. These guarantees in long-term investment are very valuable and since the product is a whole of life one, the client can continue with the investment till death.

Positioning of the Single Premium Whole of Life Insurance Plan


The Single Premium Whole of Life Insurance Plan can be positioned as along term investment vehicle with guarantees at specific dates. The Plan is suited to help in providing a fund for long term financial needs. The philosophy and practices of the company can help in building the policy values for the client and hence positioning the company is also important in the sale of the Single Premium Whole of Life Insurance Plan.

Personal Pension Plan


Savings for a better retirement Introduction
The Personal Pension Plan is a with profits deferred pension contract which aims to give good pension benefits to the client by helping the client build a retirement fund. The aim of the plan is to build good fund values so that the client can enjoy a better pension on retirement.

Need for the Plan


Income in retirement is becoming more and more important. With the breakup of the joint family system and the increase in longevity, it is becoming more and more important to provide for retirement. The fall in the interest rates and the uncertainty prevailing in the market make pensions more attractive. Pension can provide a guaranteed income till death and hence there is a renewed interest in pension schemes in the recent years.

34

There are various instruments of savings and investment, which the client can use to provide for his retirement. A deferred pension plan has the following advantages: I. The deferred pension plan can be issued for long terms so that the single instrument covers the retirement need of the client. II. The deferred pension plan automatically vests in the life assured on the date of vesting. This is an advantage as the likelihood that the fund would be used for some other purposes is minimized and fund would be used only for retirement. III. Special tax benefits are available for investment in deferred pension plans.

Positioning of the Personal Pension Plan


The Personal Pension Plan can be positioned as a savings vehicle to provide for a retirement benefit. The plan is suited to help in building a fund for retirement needs. The guarantees in the nature of sum assured and the bonuses assure the client of a smoothened long-term return. The philosophy and practices of the company can help in building the policy values for the client and hence positioning the company is also important in the sale of the Personal Pension Plan.

UNIT LINKED INSURANCE PRODUCTS (ULIP)


35

ULIP, AN INSURANCE PRODUCT WITH A TWO-IN-ONE FEATURE, IS DESIGNED TO CARRY BENEFITS OF BOTH, AN INSURANCE COVER AS WELL AS MARKET RELATED INVESTMENT RETURNS...

Unit Linked Insurance Plan, Popularly

Known as ULIP, is Blend of an insurance and investment product. It combines a life cover with an investment plan, but unlike a traditional plan money back or endowment plan, investment returns are not guaranteed in the case of ULIPs.

ULIP, by its nature, is not a product that is meant to maximize returns like equity investments either directly or through mutual funds.

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Unit Linked Young Star Plus and Unit Linked Young Star
Invest in your childs dreams and secure your self-respect

HDFC Unit Linked Young Star & Young Star Plus


Invest in your childs dreams, and secure your self-respect.

As a parent, your priority is your children's future and being able to meet their dreams and aspirations. Today, providing a good education, establishing a professional career or even a modest wedding is expensive. Costs are rising fast. Just imagine how much you will need when your children take these important steps in life. Plan today to ensure a bright future for your children. Start saving today with our HDFC Unit Linked Young Star Plus so that your child is able to lead a life of respect and dignity with a secured financial future. The HDFC Unit Linked Young Star Plus gives you: An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments Regular Loyalty Units to boost your fund value every year Valuable protection to your child in case you are not around Flexible benefit combinations and payment options Flexible additional benefit options such as critical illness cover Access to your accumulated fund before maturity

You can choose your premium and the investment fund or funds. We will then invest your premium, net of premium allocation charges in your chosen funds in the proportion you specify. At the end of the policy term, you will receive the accumulated value of your funds. In case of your unfortunate demise during the policy term, we will: Pay the Sum Assured you had chosen to your child. Continue your policy and continue to pay the original regular premiums you had chosen.

This means we will continue to make your savings on your behalf, in your absence. The fund will be available for your family's use until the original Maturity Date. Use HDFC

Standard Life's excellent investment options to maximize your savings & maximize your child's achievements. We will provide financial security for your child. All Unit Linked Life insurance plans are different from traditional insurance plans and are subject to different risk factors. HDFC Standard Life is the name of our Insurance Company and HDFC Unit Linked Young Star Plus is the name of this plan. The name of our company and the name of our plan do not, in any way, indicate the quality of the plan, its future prospects or returns. Easy Steps to Your Own Plan Step 1: Choose the premium you wish to invest This is the premium you will continue to pay each year of the policy. The min. regular premium is Rs. 10,000. You can pay monthly (using Standing Instructions or ECS Mandate), quarterly, half-yearly or annually. Step 2: Choose the amount of protection (Sum Assured) you desire You can choose any amount of Sum Assured with: A minimum of 5 times your chosen annual regular premium A maximum of 40 times your chosen annual regular premium.

Step 3: Choose the additional plan benefits you desire We offer a range of valuable protection option to secure the future for your family. You can choose any one of the following benefit options: Life OptionDeath Benefit Life & Health OptionDeath Benefit + Critical illness Benefit

Step 4: Choose the investment fund or funds you desire We have 6 funds for you. You can choose fund in which you want to invest.

Market Analysis of company


Analysis of the Study
The investment in Unit Linked Products is a new trend introduced in India with various Insurance Companies into this segment. This feature is rapidly growing in the Indian Market. Today, various investment options available in the market. The study explains that how people of Jaipur invest their income. The following diagram explains it very well.

15%

30%

Mutual Fund Insurance Shares

30% 25%

Others

The study has shown that people of Jaipur are much interested in investing in Mutual Funds and Shares than Insurance. This is because of people are interested in short-term investment. But it is assumed by the studies that in upcoming years this rate of investment in insurance will increase rapidly. Among 17 insurance Companies including LIC, the HDFC Standard Life Company has placed its position on pinnacle. Each Company has the Unit Linked Product in its portfolio. But HDFCs Unit Linked Products are customer centric and having special features. HDFCs services are highly appreciable among insurance companies apart from its brand name.

HDFC Standard Life Insurance Company is leading the market in the Returns giving to its customers. All its competitors are behind in the aspect of Returns. Here in this given chart, it is shown that how HDFC Standard Life Insurance Company is ahead from other life insurance companies.

50 40 30 20 10 0 HDFC SL Bajaj Allianz Tata AIG Reliance ICICI Pru Life Kotak Life Aviva Life 1-YEAR 2-YEAR

HDFC SL provides ULIP to its customer with special benefits with minimum charges. The Policy Administration Charge and Fund Management Charge is Rs. 20/- and 0.80% respectively, which are minimum in their category. Beside this HDFC SL provide 24 switches free in a policy year, very ahead than 4 free switches of ICICI Prudential, Kotak Life and 3 free switches of Bajaj Allianz Life Insurance. HDFC SL offers the Smart Transfer Option (STO) to its customer. This is the facility to those customers, who are unknown about the investment market and want share this responsibility to HDFC SLs fund mangers. Another advantage that HDFC SL has over the other Insurance Companies is the atmosphere at the bank which makes the customers feel comfortable. The ambience of the Company is designed according to the need of the clients. Comparing HDFC SL with other Companies, we feel that the directions, brochures, etc are displayed in an appropriate manner which helps the customer to avail the services required by them.

SWOT ANALYSIS

STRENGTH
Country Wide Recognition Need Base Analysis Same Standard Services in all Branches Fair Deal in all Transactions Customers Centric Approach Infrastructure

WEEKNESS
Frequent Job Rotation Less number of advertisements Hidden Charges

OPPORTUNITY
Scope in Jaipur as it is in the developing phase Only 25% of insurable people have any insurance Higher possibility of growth in Indian share Market

THREAT
LICs Brand Name People of Jaipur prefer short-term investment rather than in insurance Upcoming private insurance companies.

ORGANISATION HIERARCHY CHART OF HDFC S.L.I.

Organisation chart (Hierarchy) Managing Director & Chief Executive Officer (MD & CEO)

General Manager (GM)

Business Head (BH)

Zonal Heads (ZH)

Regional Manager (RM)

Territory Manager(TM)

Branch Manager (BM)

Sales Development Manger (SDM)

DISTRIBUTION CHANNEL
Distribution Channel

According to W.J. Stantion A Channel of distribution for a product is the route taken by the title to the goods as they move from the producet to the ultimate consumer or industrial user. Different types of distribution channels used by HDFC SLI CO. Direct Channel of Distribution :- in which bank opened branches in defferent areas of jaipur region to reach direct to the customers. Indirect channel of distribution :- in this channel of distribution bank uses middlemen to reach to the customers. These middlemen are Commission Agents, M.R.E. , and S.E. etc. Branches in India: o Andhra predesh : Abids, Balangar, Birnavarm, Bidar, Eluru, Guntu, jublee Hills, Kakinada, Karimnagar, Kurnool, Nizambad Rajahmundary, Saroor Nagar, Secunderabad, Vijaywada, Vishakapatnam. o Assam : Agartala, Dibrugrah, Guwahati, jorhat, Nagaon, Sibsagar, Silchar, Tezpur, Tinsukia. Bihar : Patna. Chattisgrah: Bhilai, Bilaspur. Delhi : New Delhi, Shahadra. Goa: Panji. o Gujrat: Ahamdabad, Anand, Bharuch, Bharuch, Bhavnagar, Jamnagar, Kutch-Bhuj, Mehsana, Navsari, Rajkot, Surat, Vadodara, Valsad. o Hariyana: Ambala, Faridabad, Gurgaon, Hissar, Karnal, Panipat, Rohtak, Sirsa, Yamuna Nagar, Himachal Pradesh: Shimla. J&k :

o o o o

o o

HDFC SLs KEY STRENGTHS Winners dont do different things. They do things differently

Financial Expertise
As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently.

Range of Solutions
HDFC Standard Life has a range of individual and group solutions, which can be easily customized to specific needs. Their group solutions have been designed to offer customers complete flexibility combined with a low charging structure.

Track Record so far


HDFC Standard Lifes cumulative premium income, including the first year premiums and renewal premiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06. They have covered over 1.6 million individuals out of which over 5,00,000 lives have been covered through their group business tie-ups.

Awards
Over a decade of its operations, HDFC Standard Life Insurance Company Ltd. has been recognized, rated and awarded by a number of organizations, which include: Winner of the Out Look Money Award for two consecutive years. Voted as the Most Respected Life Insurance Company by Business World in 2004.

Research and Methodology of training


RESEARCH METHODOLOGY

Research is the manipulation of things concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in constructon of theory or in the practice of art.

Objective of Research Major objective


Find out the financial consultant for HDFC Standard life insurance ltd. Company in jaipur. The major objective of the insurance Company is to find out those people who are interested in insurance sector. HDFC SLI also makes financial Consultant to those people who are interested in insurance sector.

Specific objectives
Find out the people who are interested in insurance sector and want to be a Financial Consultant. Find out the total number of HDFC STANDARD LIFE INSURANCE CO. counter in jaipur. Find out the reason of preference of the consumer to select HDFC STANDARD LIFE. Find out particular criteria for making consumes. Find out the competitors of HDFC SLI Company such as ICICI,MAX,AVIVA,BAJAJ ALLINZE.

SAMPLE DESIGN
Sample design is a way for achieving a sample from a given population. it provides help the researcher would adopt in selecting items for the sample. Sample design is determined before data are collected. The proposed research is a Survey, as it covered some part of the city, under which various classes (Occupation , Income& Savings) of the people were discussed. One area of the city has been covered. Sample Size:- 175 people

METHODOLOGY

First Stage:

In this introductory stage secondary data was collected from HDFC SLI Co. then we were calling those people who are interested in insurance. Primary data was collected from our relatives and friends. Second Stage: To meet with those people who are interested in insurance sector. it signified the study by providing problems they are facing and introduce with companies plans which are provided by HDFC SLI Company, Jaipur. Third Stage : At this stage we made those finance Consultant who given insurance polices for the HDFC SLI Company.

TOOLS AND TECHNIQUES USED


Data Collection : Primary Data:-Primary data was collected from our relatives and friends.

Secondary Data:- Secondary data was collected from HDFC SLI Co. Research Approach: Survey approach was opted to do this research. SAMPLING PLAN: (A) Population Definition Element : All customers in particular area Sample unit: One customer Extent : Jaipur city (B) Sampling Methods Simple Random Sampling

DATA ANALYSIS AND INTERPRITATION


Qus.1 Do you know about the field of insurance? A. B. Yes No

C.

Not aware the term insurance


15% 5%

Yes No
80%

Not aware

When I asked to people do you know about the field of insurance? Then 80% said that Yes & 15% said that No 5% said that Not aware the term insurace Qus.2 Are you interested in doing a business with your existing job/business to earn a handsome amount? A. Yes B. No

30% 70%

Yes No

When I asked to people are you interested in doing a business with your existing job/business to earn a handsome amount? Then 70% said that Yes & 30% said that No. Qus.3 How many companies do you know in insurance business? All -------Few ------None ------5% 25%

All Few None

70%

When I asked to people how many companies do you know in insurance business? Then 25% said that All & 70% said that Few & 5% said that None. Qus.4 In which insurance company you want to join? A. S.B.I.

B. C. D.

HDFC ICICI OTHER


10% 30% 50% 10% Sbi Hdfc icici other.

When I asked to people in which insurance company you want to join? Then 10% said that S.B.I. & 50% said that HDFC & 30% said that ICICI & 10% said that other. Qus.5 What was the purpose for taking insurance policy? A. B. C. Life insurance Tax Benefit Investment
Life insurance Tax Benefit Investment

40% 55% 5%

When I asked to people what was the purpose for taking insurance policy? Then 40% said that Life insurance & 5% said that Tax Benefit & 55% said that Investment.

Qus.6 Which schemes do you like the most of Insurance Company? A. B. C. D. Money back Pension Plan Kids plan Others
10% 30% 10% 50% Money Back Pension Plan Kids Plan Others

When I asked to people which schemes do you like the most of Insurance Company? Then 10% said that Money Back & 50% said that Pension Plan & 30% said that Kids Plan & 10% said that Others. Qus.7 Customers belong to ICICI Bank are of which income level group? A. B. C. D. High income level group (HILG) Upper middle income level group (UMILG) Lower middle income level group (LMLIG) Lower income level group (LILG)
CUSTOMERS ON THE BASIS OF INCOME LEVEL HILG UMILG LMLIG LILG

When I search about the customers coming in HDFC SLIC belong to which category of income level then I found that 45% people are of high income level group, 30% people are of upper middle income level group, 20% people are of lower middle income level group, & 5% people are of lower income level group.

LIMITATIONS
As the movement throughout the city is not possible due to certain constraints so the movement was quite restricted. people are not ready to go for training. As the training period is of 18 days (100 hrs) and it involves full day, so it becomes difficult for them to leave their offices or shops for such a long time. The compulsion of selling 25 policies in six month also restricts them from becoming advisors. if they do fulfill this target, then their licence is cancelled after a year. Lack of trust on any company of private sector. Lack of knowledge about the products of HDFC Standard Life Insurance and their total and blind faith on lic. Sometimes, fresth graduates want to become advisors but the company denies making them an advisor, as they are very fickle-minded and also unreliable. Some people ask about comparative analysis with LIC and other insurance companies. Non-availabilit of part time training. All small towns are not open for doing this business. One person cannot tank Life insurance Agency of two different Companies. Time constraint is the biggest constraint in taking up the study.

CONCLUSION
In the times of economy slump, where all options of investment lacks the interest of people for one or other reason, FD still remains at the top of the mind of people as a known, convenient and reward earning option for investing their hard earned savings but there is not possibility of higher returns. However Mutual Funds are the first choice of small investors for short-term game but for long-term investment it is not appropriate. Recent global economy slow down has made negative influence on lay investor perception of security. With the arrival of investment in insurance, people who were investing in other options have turned their minds because of the higher returns and risk cover through out the life. No other option gives as higher returns as par as long-term investment is concern. HDFC SL is the leading insurance service providers to public and private sector clients and has kept pace with the revolutionary growth of the industry by evolving a range of services to meet the varied needs of funds groups. HDFC SL has also benefit from network and superior processing services. The depth and breadth of the integrated suite of products and capabilities, coupled with the investment and savings markets services fuels the ability to help to stay competitive and successful in financial markets.

Finally to conclude, the findings emphasize that:


A majority of investors are found to be conscious and enlightened regarding their investment, returns and growth. Due to lack of basic promotion and publicity, people are not fully aware about the product. HDFC Standard Life Company should make little more efforts to trap the potential customers. Beside this HDFC SL has a good reputation in market by providing the right product to right customer.

RECOMMENDATIONS

1. HDFC SL can improve upon its efficiency by not changing its staff frequently. By doing this bank can continue to create, maintain and grow strong relationship with existing customers. Idea behind this is that staff which is already working for bank is well acquainted with the nature and wants of the existing customers. 2. Use of creative advertisements to attract more and more target customers and to create awareness among them. 3. HDFC SL should chalk out some programs to create general awareness regarding its presence and various services of the company. 4. Today is the era of competition. In order to increase the company network (In terms of clients and business volumes) an aggressive approach is required. The Bank should recruit more number of marketing personnel so that they can cover the whole of the city and nearest villages of Jaipur. Personal marketing can be one of the methods of modes of taking people into confidence. 5. HDFC SL should try to make its promotional activities more effectively. 6. It can use industrial magazine media as an advertising tool for approaching is market segment. 7. Try to reduce hidden charges so as to satisfy the customers more effectively. 8. It should regularly conduct market research and surveys for knowing customers better and for facing threat from competitors. 9. Supporting staff should be appointed.

QUESTIONNAIRE

PURPOSE: TO PROMOTE THE CONCEPT OF INSURANCE FROM HDFC STANDAR LIFE AS A BUSINESS OPPUETUNITY AND CREATING AWARENESS.

Name: -------------------Age: -------------------Tel no: -------------------

Qualification: -----------------Profession: --------------------

Q.1 Do you know about the field of insurance? o Yes o No o Not aware the term insurance Q2. What is the basic factor that you consider before picking up a business opportunity? o Monetary Benefit. o Recognition o Flexible timing and one s own boss o All of the above Q3. According to you what is Insurance? o Investment tool o Tax saving tool o Security o All of the above

Q4. Are you associated with HDFCSL Insurance co.? o Yes o No If yes, then how? ____________________ Q5. Do you know that HDFC is no. 1 Life insurance Company? o Yes o No Q6. Do you think that insurance is highly paid business? o Yes o No Q.7 Do you have your own vehicle? Yes ---------- No --------------

Q.8

What was the purpose for taking insurance policy? Life insurance -------------Tax Benefit -----------Investment ---------

Q.9

Are you interested for becoming an advisor of HDFC SLI Company? Yes ------------No ------------------

BIBLIOGRAPHY
Fact sheet of HDFC Standard Life Company Weekly Newspaper of RNIS (Ritu Nanda Insurance Services) Institute HDFC SL Intranet

Magazines
Business world Business today Business India

Newspaper
Economic times Times of India Dainik Bhasker Business Standard

Websites
www.hdfcinsurance.com www.google.com (Search Engine) www.yahoo.com (Search Engine) www.wikipedia.com www.hdfc.com www.rnis.biz

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