Recruiting & Selection of FC's in HDFC SLIC by VINOD Final

HDFC STANDARD LIFE INSURANCE, PUNE
A REPORT ON
RECRUITMENT AND SELECTION AT

HDFC STANDARD LIFE INSURANCE COMPANY LTD
BY :- VINOD PRAJAPAT

PUNE
DATE:- 25-09-2009
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MUENCHEN INTERNATIONAL BUSINESS SCHOOL,PUNE
A PROJECT REPORT
ON
RECRUITMENT AND SELECTION
AT
SUBMITTED TO
MIBS
PUNE
AS A PART FULFILLMENT OF
MBA + POST GRADUATE PROGRAME IN MANAGEMENT
SESSION: 2008 – 2010
SUBMITTED
BY:-
VINOD PRAJAPAT
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MUENCHEN INTERNATIONAL BUSINESS SCHOOL

PUNE
ACKNOWLEDGEMENT
At the very outset, I would like to take golden opportunity of thanking

those persons without whose guidance, co-operation, inspiration and
suggestion it would have been impossible for me to accomplish the
project successfully.
First of all I would like to thank Mr. Anand Gawrade. Channel
development Manager of HDFC SLIC, for his kind guidance and
necessary support during the project.
I also take this opportunity to extend my heartfelt gratitude to others
who directly of indirectly helped me, by providing me necessary
information required for successful completion of the project.
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Vinod kumar Prajapat

Email Id:va.prajapat@gmail.com
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DECLARATION
This project well bred “RECRUITMENT& SELECTION OF FINANCIAL

CONSULTANT OF HDFC STANDARD LIFE INSURANCE ” presence proposes by
me in the preferential discharge of obligations for the reward of MBA
+PGPM From MIBS, Pune.
I somewhere different for any other degree, credential have not

submitted this effort.
Whole snitches of tidings and assist are genuine and have been
accredited in the report.
VINOD PRAJAPAT
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M.B.A-3RD SEM
MIBS , PUNE
Roll no-2008/MBA/63
APPENDICES
Topic Page No.
A. Executive Summary :- 8
B. Objective of the study :- 8
C. Introduction of HDFC SLIC :- 9 - 15

1. Introduction. 9
2. The Background of Company. 12
3. Joint Venture. 14
4. Organisation Hierrachy. 15
D. The Promoters :- 16-21

1. Jointventure & Associated Undertakings. 16
2. Strength. 17
3. Weakness. 21
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E. The Company And Its Product Line :- 22-32

1. Competitors by Product 22
2. Life Stages. 27
F. Features Of The Product & Benefits :- 33-38

1. Accidental Death Benefit. 34
2. Critical Illness. 34
3. Double Sum Assured Benefits. 34
4. Waiver of Premium Benefit 35
5. Accelerated Sum Assured. 35
6. Term Assurance Plan. 35
7. Money Back Plan. 36
8. Endowment Assurance Plan. 36
9. Loan Cover Term Assurance. 36
G. Marketing Strategies :- 39-48

1. Reason For Their Good Condition. 39
2. Branch Location Site Map. 46
3. Advertisement and sales promotion 47
H. Recruitment Of FC’s :- 49-56

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1. Business Description. 49
2. Excellent Opportunity. 50
3. Recruitment Of FC’s. 52
4. Benefits To FC’s. 53
I. Research Methodology :- 57-59

1. Objectives Of Research Project. 57
2. Research Plan. 58
3. Research Design. 58
4. Developing the Research Plan. 58
5. Collection Of Data. 59
J. Data Analysis, Interpretation And Presentation :- 60-76
K. SWOT Analysis :- 77-78

1. Strength. 77
2. Weakness. 77
3. Opportunities. 78
4. Threats. 78
L. Conclusions & Suggestions :- 79-81
1. Conclusions. 79
2. Suggestions. 80
M. Annexure:- 82-85
N. Bibiliography :- 86
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A. EXECUTIVE SUMMARY:-
Project Title: RECRUITMENT & SELECTION OF FINANCIAL

CONSULTANT
Name of the organization: HDFC SLIC.
Place of the work: F.C. Road, PUNE
Organizational Guide: Mr. Anand Gawrade
Duration: 1st April to 31st May
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B. Major objectives:
• To study of the market .
• To study of the perfect market for HDFC SLIC.
• To approach to the interested people towards HDFC SLIC.
Research Methodology:
Market research/survey
Area of research
I have done the research in Pune Central, Pune University, Big Bazar,
Mcdonald,BSNL office,Post office and other places in Pune.
Major Findings:
• There are more then one people live in Pune.
• Only more then 25% people have the knowledge of investment in HDFC
SLIC.
C. HDFC STANDARD LIFE INSURANCE

1-INTRODUCTION:-
HDFC Standard Life Insurance Company Ltd. offers a range of individual and
group insurance solutions. It is a joint venture between Housing Development
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Finance Corporation Limited (HDFC Ltd.), India’s leading housing finance

institution and one of the subsidiaries of Standard Life plc, leading providers of
financial services in the United Kingdom. The Standard Life group has been
looking after the financial needs of customers for over 180 years. It is a leading
pension’s provider in the UK. Both the promoters are well known in their
respective fields of activities. For more details you may log on to
http://www.hdfcinsurance.com
Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive
Chairman of Housing Development Finance Corporation Limited (HDFC
Limited). He joined HDFC Limited in a senior management position in 1978. He
was inducted as a whole-time director of HDFC Limited in 1985 and was
appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of
HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered Accountants
Mr. Keki M Mistry joined the Board of Directors of the Company in December,
2000. He is currently the Managing Director of HDFC Limited. He joined HDFC
Limited in 1981 and became an Executive Director in 1993. He was appointed as
its Managing Director in November, 2000. Mr. Mistry is a Fellow of the Institute
of Chartered Accountants of India and a member of the Michigan Association of
Certified Public Accountan
Mr. Alexander M Crombie joined the Board of Directors of the Company in

April, 2002. He has been with the Standard Life Group for 34 years holding
various senior management positions. He was appointed as the Group Chief
Executive of the Standard Life Group in March 2004. Mr. Crombie is a fellow of
the Faculty of Actuaries in Scotland
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Ms. Marcia D Campbell is currently the Group Operations Director in the

Standard Life group and is responsible for Group Operations, Asia Pacific
Development, Strategy & Planning, Corporate Responsibility and Shared Services
Centre. Ms. Campbell joined the Board of Directors in November 2005
Mr. Keith N Skeoch is currently the Chief Executive in Standard Life

Investments Limited and is responsible for overseeing Investment Process & Chief
Executive Officer Function. Prior to this, Mr. Skeoch was working with M/s.
James Capel & Co. holding the positions of UK Economist, Chief Economist,
Executive Director, Director of Controls
and Strategy HSBS Securities and Managing Director International Equities. He
was also responsible for Economic and Investment Strategy research produced on
a worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005
Mr. Gautam R Divan is a practising Chartered Accountant and is a Fellow of the

Institute of Chartered Accountants of India. Mr. Divan was the Former Chairman
and Managing Committee Member of Midsnell Group International, an
International Association of Independent Accounting Firms and has authored
several papers of professional interest. Mr. Divan has wide experience in auditing
accounts of large public limited companies and nationalised banks, financial and
taxation planning of individuals and limited companies and also has substantial
experience in structuring overseas investments to and from India.
Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on

Strategy and Change Management. Mr. Pant, until 2002 was a Partner & Vice-
President at Bain & Company, Inc., Boston, where he led the worldwide Utility
Practice. He was also Director, Corporate Business Development at General
lectric headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton
School and BE (Honours) from Birla Institute of Technology and Sciences.
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Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of
India Limited. Mr. Ravi Narain was a member of the core team to set-up the
Securities & Exchange Board of India (SEBI) and is also associated with various
committees of SEBI and the Reserve Bank of India (RBI).
Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company
since November, 2000. Prior to this, he was the Managing Director of HDFC
Limited since 1993. Mr. Satwalekar obtained a Bachelors Degree in Technology
from the Indian Institute of Technology, Bombay and a Masters Degree in
Business Administration from The American University, Washington DC
Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a graduate

in law and holds a Master's degree in economics from Delhi University. She has
been employed with HDFC Limited since 1978 and was appointed as the
Executive Director in 2000. She is responsible for overseeing all aspects of lending
operations of HDFC Limited.
2 THE BACKGROUND
HDFC LIMITED
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HDFC was incorporated in 1977 with the primary objective of meeting a

social need - that of promoting home ownership by providing long-term
finance to households for their housing needs. HDFC was promoted
with an initial share capital of Rs. 100 million.
Business Objectives
The primary objective of HDFC is to enhance residential housing stock

in the country through the provision of housing finance in a systematic
and professional manner, and to promote home ownership. Another
objective is to increase the flow of resources to the housing sector by
integrating the housing finance sector with the overall domestic
financial markets..
Organisational Goals
HDFC's main goals are to

a) develop close relationships with individual households,
b) maintain its position as the premier housing finance
institution in the country,
c) transform ideas into viable and creative solutions,
d) provide consistently high returns to shareholders, and e) to grow
through diversification by leveraging off the existing client base.
HDFC operates through 75 location throughout the country with its

Corporate Headquarters in Mumbai,India.HDFC also has an
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international office in Dubai, U.A.E.,with service associates in Kuwait,

Oman and Qatar.
STANDARD LIFE GROUP
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. Its Canadian branch
was founded in 1833 and its Irish operations in 1838. This largely
remained the structure of the group until 1996, when it opened a branch
in Frankfurt, Germany with the aim of
exporting its UK life assurance and pensions operating model to
capitalise on the opportunities presented by EC
Directive 92/96/EEC (the “Third Life Directive”) and offer a product
range in that market with features which local providers were unable to
offer. In the 1990s, the group also sought to diversify its operations into
areas which complemented its core life assurance and pensions business,
with the intention of positioning itself as a broad range financial services
provider.
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3. JOINT VENTURE
HDFC Standard Life Insurance Company Ltd

HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august
2000. It is a joint venture between Housing Development Finance
Corporation Limited (HDFC Ltd.) India And UK based Standard Life
Company. Both the joint venture partners being one of the leaders in
their respective areas came together in this 81.4:18.6 joint venture to
form HDFC Standard LifeInsurance Company Limited. Mr. Deepak
Satwalekar is the MD and CEO of the venture. HDFC Standard Life
brings to you a whole range of insurance Solutions be it group or
individual or NAV services for Corporations, they can be easily
customized as per specific needs.
HDFC Standard Life Insurance India boasts of covering
around 8.7 lakh lives by March'2007. The gross incomes
standing at a whopping Rs. 2, 856 crores, HDFC Standard Life
Insurance Corporation is sure to become one of the leaders and the first
preference for any life insurance customer.
VISION STATEMENT
“The most successful and admired life insurance company, which mean
that we are the most trusted company, the easiest to deal with, offer the
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best value for money, and set the standards in the industry.In short, “The
most obvious choice for all”.
Admired mean the company should be known for its standards. Not only
customers, but also the competing life insurance companies should
benchmark against HDFC SLI a nutshell, even the IRDA should give an
example of
HDFC SL as a guiding principle.
4. ORGANIZATION CHART:
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D. THE PROMOTERS
1.Joint ventures and associated undertakings
Country of registration or Share class Name incorporation and

proportion held Year end Nature of business
Heng An Standard Life China Ordinary shares 50.0% 31 Dec Life assuranceHDFC
Standard Life Insurance Company Limited** IndiaOrdinary shares 18.6% 31 Mar
Life assuranceHDFC Asset Management Company Limited* **
India Ordinary shares 49.9% 31 Mar Investment management*
Owned by a subsidiary undertaking of the Company.**
The Company also has a 14.5% interest in Housing Development Finance
Corporation Limited (“HDFC Limited”). HDFC Limited owns 81.4% and 50.1%of
HDFC Standard Life Insurance Company Limited and HDFC Asset Management
Company respectively. This gives theGroup an effective interest in thesecompanies
of 30% and 57% respectively. The Company does not exercise dominant influence
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over either of these joint ventures.The current operations of these companies are
not significant in relation to the accounts of the Group.
2.Strength:-
A wide geographic reach, growing clients, and a diversified portfolio of
products and services.
.
Premium Payment
This section gives you all the details that you may require to pay your premium
and make it a hassle free experience. Along with various premium payment
options currently available to you, we have also drawn up a Checklist of details
that you will need in case you are paying through cheque or demand draft.
7 Easy Ways to pay your premium:
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At any of Our branches
You can deposit Cheque / Demand Draft drawn in favour of “HDFC

SLIC” at any of Our branch during the following business hours
Monday to Friday : 9.30 AM to 4.30 PM (For Cash)
Monday to Friday : 9.30 AM to 5.00 PM (For Cheque)
Saturday : 9.30 AM to 12.00 Noon (For Cash & Cheques)
Closed on Sundays
Postage / Courier
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You can send cheques and demand drafts drawn in favour of HDFC SLIC to any of
our branch offices
Online Payment
You can make online payment of premium anytime and from any location, at a
click of the mouse by using the Online payment facility. It is currently offered to
all the policyholders who are registered users of billjunction.com or have net
banking facility with any of the following banks - HDFC Bank, ICICI Bank, Axis
Bank, State Bank of India, Punjab National Bank, Union Bank of India, Bank of
Baroda
Drop Boxes
You can drop cheques and demand drafts drawn in favour of HDFC SLIC into any
of our drop boxes installed at various locations in various cities.
Electronic Clearing Service (ECS) or Auto Debit facility of RBI
You can also pay renewal premiums through Electronic Clearing Service (ECS) of
Reserve Bank of India (RBI) presently available in following 61 cities
Agra, Ahmedabad, Allahabad, Amritsar, Aurangabad, Bangalore, Bardhaman, Baroda, Bhilwara,

Bhopal, Bhubaneshwar, Calicut, Chandigarh, Chennai, Cochin, Coimbatore, Dehradun, Delhi,
Durgapur, Erode, Gorakhpur, Guwahati, Gwalior, Hubli, Hyderabad, Indore, Jabalpur, Jaipur,
Jalandhar, Jammu, Jamshedpur, Jodhpur, Kanpur, Kolhapur, Kolkata, Lucknow, Ludhiana,
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Mangalore, Mumbai, Mysore, Nagpur, Nellore, Panjim, Patna, Pune, Raipur, Rajkot, Ranchi,
Salem, Shimla, Sholapur, Siliguri, Surat, Thirupur, Tirupati, Trichur, Trivandrum, Udaipur,
Varanasi, Vijaywada, Vizag
Standing Instructions (SI) Mandate
You can also pay your renewal premium through a Standing Instructions Mandate
if you have an account with HDFC Bank anywhere in India
Credit Card Facility
You can pay your renewal premium through your HDFC Bank credit card.
Checklist while paying your renewal premium through

cheque/ demand draft
your policy number and name correctly on the reverse side of the cheque/
demand draft
We do not accept Post Dated Cheques (PDC’s) beyond the next banking day
from date of receipt
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In case of any overwriting on your cheque, please countersign the same

As per RBI guidelines, Non MICR Cheques may not be acceptable at few
locations. In this scenario, please contact your nearest branch for more
details
Unit Linked Polices you can pay using Local Cheques/ Demand Drafts
other policies you can pay using either Local or Outstation cheques or
Demand Drafts
3.Weaknesses:-
Lapsation & Revival
Your renewal premium should reach us by the due date specified in the premium
reminders. It is always advisable to pay on time so that your valuable policy
benefits can continue.
However we do understand that there may be times when you may not be able to
pay the renewal premium by the due date. Therefore we allow for some additional
number of days from the due date, which is specified in your policy document, to
help you make your premium payment.
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In case we still don’t receive your premium payments by the end of the above
mentioned period, we would do either one of the following:
Lapse” the policy – if you haven’t paid premiums for the first 3 policy
years
Either of these may mean loss/reduction of valuable benefits of your policy.
refer to your policy document for details.
We do, however, allow you to restore the original benefits for a Lapsed
or a Paid up policy under certain conditions.
On receipt we will send you the details of amount, that you will have to pay
towards revival. This amount may include all or some of the outstanding
premiums, revival interest and revival processing charges
If your policy is lapsed or paid-up for more than six months or lapsed due to any
reasons like illness, accidents etc. you may need to submit a Personal Health
Statement.
E. THE COMPANY AND ITS PRODUCT LINE:-
1. COMPETITOR BY PRODUCT
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Bancassurance is the selling of insurance
products by a bank. For HDFC Standard Life Insurance, bancassurance and other
alternative channels contribute around 42 per cent of the business.
The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC,
HDFC Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda,
Saraswat Bank and Bajaj Capital.
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HDFC BANK
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HDFC Bank is the largest insurance distributor of HDFC Standard Life Insurance.
INDIAN BANK
Indian Bank enters into a strategic tie-up with HDFC Standard Life Insurance
Company Ltd .
INDIAN BANK with over 90 years of standing in the financial market with the
reputation for excellent customer service, has entered into a strategic tie-up with
HDFC Standard Life Insurance Company Ltd., the first in the private sector to
receive the Certificate of Registration for foray into Life Insurance business for
distribution of latter’s insurance products. A Memorandum of understanding has
been signed by the Bank with the Insurance Company on 8th February 2001 to this
effect. The Bank has to its strength 1377 branches spread across the country with
ready built infrastructure and the expertise in marketing financial products.
Initially the insurance products will be marketed through select branches in the
South where the Bank has strong presence. The insurance products from HDFC
Standard Life, will be competitive and customer friendly. The tie-up would
benefit the Bank's customers, as they will have wider choice of life insurance
policies at competitive premium
FINANCIAL POSITION OF HDFC SLIC IN FY 2008-09
HDFC Standard Life, one of the leading private life insurance companies in India
declared its annual results for the financial year ending March 31, 2009. The
company generated Total Business Premium Income of Rs. 5564.69 crores in
FY2008-09 registering a year-on-year growth of 15%. The growth was primarily
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driven by the success of the company's initiative on structured sales processes

based on customer needs and their assessments.
Highlights of Financial Year 2008-09

Total Premium Income is up by 15% at Rs. 5564.69 crores as against Rs.
4858.56 crores in FY2007-08.
-- Renewal premium collected increased to Rs. 2913.58 crores from Rs.
2173.19 crores in the previous year, registering a growth of 34%.
Effective Premium Income (EPI) in respect of retail business increased by
5%, growing from Rs 2,425 crores in 2007-08 to 2,552 crores in 2008-09.
-- Alternate Channels, including bancassurance, contributed about 45% to
the Effective Premium Income (EPI).
-- A well balanced product portfolio with pension comprising over 40%
children plans around 25% and the remaining constituting protection and
savings plans,
-- Total assets under management increased to Rs. 10,595 crores, registering
a growth of 24% over FY2007-08.
-- Assets under management for the Group business have increased to Rs.
1075 crores, registering a growth of 12% over FY2007-08.
-- Company products and services are now available through a network of
595 offices serving over 700 cities and towns across the country. This is
further complemented by corporate agency relationships with public, private
and cooperative banks.
-- Strength of Financial Consultants reported year-on-year growth of 43% to
over 2,07,000 in FY2008-09 compared to 1,45,000 last financial year.
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-- The sum assured in-force for 2008-09 was Rs. 57,158 crores as compared
to Rs. 45,743 crores for the pervious year.
Knowledge Center
Our Knowledge Centre is your personal resource for information that can help you
understand the basics of insurance and help you make an informed decision about
buying a policy. This section includes details on insurance terms and concepts,
helps you analyse plans for your various needs and lends meaning to some of the
insurance jargon that you may encounter
2. Life Stages
Your insurance need will change as your life does, from starting to work to
enjoying your golden years and all the stages in between. Each one of these stages
may pose a different insurance need/cover for you. In this section, we have drawn
up the basic life stages and help you analyse various insurance needs accordingly.
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STAGE 1
Young and Single
An important stage where one lays down the foundation of a successful life ahead. Take
advantage of the time and power of compounding to ensure that you build up your
dreams. Start saving early.
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Your needs
Save for a home and wedding
Tax Planning
Save for Golden years
STAGE 2
Just Married
Marriage brings about a significant change. New dreams and new opportunities also
bring in additional responsibilities. While both of you look forward to a happy and
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secure life , it is equally important to ensure that eventualities don’t come in the way of
shaping your dreams.
Your needs
Planning for home / securing your home loan liability
Save for vacation
Save for your first child
STAGE 3
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Proud Parents
Once you have children, your need for life insurance is even more. You need to protect
your family from an untoward incident. Ensure your protection umbrella takes into
account the future cost of securing your child’s dream. You will want life to go on for
your loved ones, and having enough life insurance is a way to help ensure that.
Your needs
Provide for children’s education

Safeguarding family against loan liabilities
Savings for post-retirement
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STAGE 4
Planning for
Retirement
While you are busy climbing the ladder of success today, it is important for you to take
time and plan for your life after retirement. Having an early start for retirement planning
can make a significant difference to your savings. Think about your golden years even
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before you have reached them. The key is to think ahead and plan well using your time
and money.
Your needs
Provide for regular income post retirement

Immediate Tax benefits
Lead a secure, independent and comfortable life style in your retirement years
F. FEATURES OF THE PRODUCT & BENIFIT

HDFC Standard Life: A good cover
The opening up of life insurance has given finally given a level-playing field to the
private sector.
A. N. Shanbhag, February 19, 2002
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Competition in the market always proves favourable to the consumer. So it is in

the case of life insurance. After what seems like almost an eon, finally the doors of
the life insurance sector were thrown open to the private sector players last year.
The Finance Act, 2001 has thankfully cleared quite a lot of cobwebs giving a level-
playing field to both the sectors. Notable amongst the new entrants is HDFC
Standard Life Insurance, a joint venture between the global experience of Standard
Life of UK and our own HDFC.
Standard Life, founded in 1825 is amongst the forerunners of the insurance
industry worldwide, having a presence not only in the UK but also Ireland, Spain,
Germany, Austria and Canada. Voted as the 'company of the decade', Standard Life
manages assets over US$ 119 billion.
HDFC does not need any formal introduction, so strong is its brand already. After
having a significant presence in the housing finance, banking and MF industries,
this JV marks its foray into the life insurance sector.
Private sector players would only be too aware that this is the proverbial first step
of the thousand-mile journey that lies up ahead. Contending for a piece of market
share with a Goliath that LIC is, will not be an easy task unless they offer
qualitative and innovative products at an affordable price. That they would be
pulling out all the stops to attract customers is not in doubt. Hence, this is as good
a time as any to pay attention and see what is on display.
The strategy
Too many options simply confuse the users whereas too few will surely turn them
away. HDFC Standard Life has thankfully introduced products with basic
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premiums serving specific needs of all. Most products have some additional
optional value adding benefits at marginal additional premiums. The proponent is
free to choose any of the basic products along with none or some of the options as
per his needs.
Before examining the base products, let us see the options.
1.Accidental Death Benefit (ADB)
ADB provides an additional amount equal to the basic sum assured (SA) in case of
the death of the policyholder due to an accident, within 90 days of the accident.
2.Critical Illness (CI) Benefit
CI provides an additional amount equal to the SA on diagnosis of the any one of
the 6 specified critical illnesses --- cancer, coronary artery bypass graft surgery,
heart attack, kidney/renal failure, major organ transplant (as recipient) and stroke.
The sum assured is payable if the policy holder survives for 30 days after the date
of the claim.
3.Double Sum Assured (DSA) Benefit
DSA provides an additional amount equivalent to the basic SA in case of the death
of the policyholder.
4.Waiver of Premium (WOP) Benefit
WOP basically waives the premium in case the policyholder becomes totally
disabled. However, the waiver is applicable only during the period of the disability.
5.Accelerated Sum Assured (ASA)
Upon diagnosis of any of the specified six critical illnesses, ASA provides an
amount equal to the amount payable on death.
These options must be selected at the outset while choosing the product.
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Now the base.

Single Premium Bond This is basically a hybrid of insurance and investment. The
life cover is quite low and therefore it functions almost like a deep discount bond.
For a single upfront premium (read investment), the policy pays a lump sum (read
maturity value) and its tenure of 10, 15, 20 years or more at 5-year intervals. A
compound revisionary bonus is declared every year, which would be added to the
policy upon its anniversary. The future bonuses though are not guaranteed and are
dependent upon the company's experience and the conditions prevalent in the
economy.
The minimum age for buying the policy is 18 years, the maximum being 70. The
minimum SA is fixed at Rs. 25,000, the maximum being Rs. 5,00,000.
Normally, a policy acquires a paid up value (and the related surrender value) after
premiums for 3 years are paid but in this case the holding period is specified to be
just 6 months --- Excellent liquidity indeed!
6.Term Assurance Plan
The SA is payable in the case of the death of the policyholder during the term but
on survival, there are no maturity benefits. Consequently, the premium rates are
absolutely the lowest. This is insurance in its purest form --- highest cover at
lowest cost. There was a crying need for easy availability of this product. HDFC
Standard Life deserves kudos to have catered to this need.
Amongst the optional benefits listed above, ADB, CI and ASA are available for
this plan.
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7.Money Back Plan

This plan pays periodic cash lump sums during the tenure of the policy. The lump
sums, essentially a proportion of the basic SA are paid at 5-year intervals. On
survival, the basic SA plus bonus less the cash lump sums paid earlier are
provided. However, in the case of the demise of the policyholder, the basic SA plus
any bonus is provided to the family. This would be over and above any earlier
payouts. The schedule of cash lump sums as a percentage of the basic SA is
detailed in the table. Moreover, CI, DSA, ADB and WOP can be opted for if so
desired.
8.Endowment Assurance Plan
As is normal with all endowments, on the death of the life assured during the term,
the beneficiary will get the SA. On survival, the policyholder gets the SA.
From amongst the optional benefits, CI, DSA, ADB and the WOP benefit are
available along with this plan. The indicative premiums for an SA of Rs. 1 lakh for
a male life assured for a period of 20 years are detailed in the table.
9.Loan Cover Term Assurance
This is a unique product meant as a safety net in case one has taken a loan to buy a
house. It is designed to help the family repay the outstanding loan in the case of
the death of the breadwinner.
For starters, it provides a lump sum on the death of the life assured during the term
of the plan. The difference in this case is that the lump sum is a decreasing
percentage of the initial SA. As the loan decreases, as per its payment schedule, the
cover under the policy decreases as per its own schedule.
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There is a choice of paying the premium in yearly, half-yearly or quarterly modes

or even a single one time premium is payable. Amongst the optional benefits, ASA
is available along with this plan.
10.Group Term Insurance (GTI)
HDFC Standard Life also offers GTI, meant essentially for employees of an
organization. GTI is extremely convenient for an employer as he can take
insurance for all or certain categories of employees. All members of a group,
subject to some basic conditions are eligible.
GTI is used basically to provide life insurance as part of the employee benefits. It
can also cover any housing or vehicle loan given by the employer to the employee.
To sum A wise man had said that the time to mend the roof is when the sun is
shining. This is applicable to life insurance too. Today as the breadwinner you are
able to maintain a decent standard of living for yourself and your family. If you
want enough bread for the family even after the death of the breadwinner, you
should look at the Single Premium Bond. In other cases, life insurance is an
absolute necessity. Have a look at other products.
Money Back Plan
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Money Back Plan

Total Policy Number of years from policy date
Term 5 10 15 20 25
10
40%
15 30% 30%
20 25% 25% 25%
25
20% 20% 20% 20%
30 15% 15% 15% 15% 15%
Endowment Assurance Plan
Age Basic Policy Additional Premium

Years Premium (Rs.) For Optional benefits (Rs.)
CI DSA ADB WOP
20 4771 304 322 136 236
30 4835 442 388 144 300
40 5098 925 641 156 475
50
5813 1890 1357 - -
5 MARKETING STRATEGIE
MARKET CONDITION OF PRODUCT IN HDFC SLIC
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When it comes to study the market condition of HDFC Standard Life Insurance, it
is quite easy to see that there is good demand for products, but the sale of Ulip
products are very good. The market share is about 65% with compare to their
competitor.
REASON FOR THEIR GOOD CONDITION:
1. Consultants hold on the market

When it comes for the case of market, there is a clear and complete hold of HDFC
SLIC Consultants.
2.Quality
HDFC SLIC provides good quality of products, which is praised by most of the
consumers. The reason for 65% of the market cover by HDFC Standard Life
Insurance is because of quality of products.
3.Demand
Demand for the product of HDFC Standard life is very high in the societies.
4.Supply
Supply of product is also good, but in capturing whole market it take some time.
COMPETITORS BY COMPANY
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COMPARITIVE ADVANTAGE OVER COMPETITORS PRODUCT:
• I compared two products, ICICI smart kid unit link and HDFC young star, in
both the policies parent is insured and child in nominee or beneficiary,
• Both the policies contains same features, only additional rider is available in
smart kid is income benefit rider (IBR), how this rider works? this rider
comes in the picture when the parent expires or becomes permanent disable
at that time this rider pay 10% of sum assurance to nominee,
• HDFC Youngstar offers Insurance Cover upto 20 Times of Annual Premium.

You may Pay Rs. 30000 per year & take Insurance Cover of Rs. 6 Lacs.
• You may take Critical Illness Rider in HDFC Youngstar upto 65 years
Age(as it Cheaper than other ULIPS ).
• The returns from HDFC Taxsaver, HDFC LT Advantage fund are better than
the returns from HDFC Standard Life Equity Fund.
• HDFC Standard ULIP Returns are over 70% in last 1 year.

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• HDFC Youngstar with Maximum Insurance Cover of Rs.3.6 Lacs
MILESTONES IN THE HISTORY

• HDFC is India’s leading housing finance institution and has helped build
more than 23, 00,000 houses since its incorporation in 1977.
• In Financial Year 2003-04 its assets under management crossed
Rs.36,000Cr.
• As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The
depositor base now stands at around 1 million depositors.
• Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
• Awarded The Economic Times Corporate Citizen of the year Award for its
long-standing commitment to community development.
• Presented the ‘Dream Home’ award for the best housing finance provider in
2004 at the third Annual Outlook Money Awards
• HDFC Standard Life Insurance is the first private life insurance company to
be granted a license by IRDA
• Rated as the "Best New Insurer - 2003" by Outlook Money magazine,
India’s number 1 personal finance magazine
• Rated by ‘Business world’ as ‘India’s Most Respected Private Life Insurance
Company’ in 2004.
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• Has the highest brand recall, close to 80% (Source: AC Neilson ORG
MARG, April 2005)
• Has one of the widest branch networks with offices in over 100 cities
servicing over 440 towns
COLLABORATIONS & AFFILIATIONS:
SUBSIDIARY AND ASSOCIATE COMPANIES:

• HDFC Bank
• HDFC Mutual Fund
• HDFC Standard Life Insurance Company
• HLSIL
• HDFC Chubb General Insurance Company Ltd.
• Intelnet Global Services Ltd.
• Other Companies Co-Promoted by HDFC
• Financial Information with regard to Subsidiary Companies
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HEAD OFFICES AND BRANCHES
HEAD OFFICE: HDFC Standard Life Insurance Co. Ltd.

'Trade Star', 2nd floor,’A’Wing,
Junction of Kondivita and M.V. Road,
Andheri-Kurla Road,
Andheri (East), Mumbai - 400 059.
PHONE: (Board) (022) 2822 0055 / 6751 6666
Fax: 2822 9998 / 2822 2414
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2. BRANCH LOCATIONS SITE MAP:
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3.ADVERTISEMENT AND SALES PROMOTION
53
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H. Recruitment of Financial Consultants (FC) in HDFC

Standard Life
This is a good business opportunity offered by HDFC Standard Life to become a
business partner and earn a good amount of money.
1.Business description
Be our Certified Financial Consultant Join HDFC Standard Life Insurance as a
Financial Consultant and help analyze your customer’s financial needs, provide
customized financial solutions to each one and conduct reviews on a regular
basis to keep your customers on track.
Along with being a great career move you get associated with HDFC Standard
Life Insurance, India’s Most Respected Private Life Insurance Company. We at
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HDFC Standard Life also offer you unmatched support with various training
programmes to help you excel in your endeavour.
A great career move in every way Zero investment, there is no start-up capital.
You can work full-time or part-time, depending on your convenience Sunrise
industry Support every step of the way At HDFC Standard Life, training is an
inherent element of our support system - at no extra cost - for our new Financial
Consultants
Financial Consultants are those sources of a company who have their own
relations and personal contacts among common public that they use to generate
business through. Company has certain criteria to recruit these Financial
Consultants. The steps are as follows.
• He should be at least 12th passed.
• He should complete IRDA training.
• He should clear the IRDA exam.
• He should through successfully the exam and training.
Some other criteria:

• He should have good personal contacts.
• He should have convincing power.
• He should be above 18th year old.
Once he through all these steps of recruitment, he becomes the legal Financial
Consultant of the company and reserve the right to sale the policy to any prospect
client also he is paid the commission a certain percentage. There are some reward
and tour package also.
2. EXCELLENT OPPORTUNITY
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Join HDFC Standard Life Insurance as a Financial Consultant and earn a

rewarding career
Flexible work timings – You can work whenever you like. You can work
full-time or part-time, depending on your convenience. However, the time you
invest will determine your success
Any one can join - Young graduates, Housewives, Retired Personnel, Self-
employed or Working Professionals.
Zero Investment - There is no start-up capital required. Be your own boss
with flexible working environment, unlimited earning potential and
opportunities to be part of a world class sales team.
• Attractive Remuneration - Company offers excellent commissions,
award and rewards for the performers.
You have unlimited earning potential. Commission structure is pretty
handsome and is 15-40% and renewal commission of 5% second year
onwards till the policy is in force.
• Certificate by IRDA- You will get world class training free of cost and
certification by Insurance Regulatory Development Authority.
• TRAINING
Perfects your knowledge about the insurance industry as well as our
products
Desired Profile:
Age: 18 Yrs to 65 Yrs
Education: Intermediate or more
Experience: Not Mandatory
Type of Job: Full Time or Part Time
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Documents Required:
8 photograph
Age proof (passport, Birth certificate, College Leaving Certificate, Driving
License)
Address proof
Education proof
Copy of PAN Card Duely Signed
Cancelled Cheque of self
A candidate needs to bring a DD of Rs. 925/- in case of offline training and Rs.825
in case of online training towards HDFC SLIC LTD payable at Mumbai.
3.Recruitment process of FCs
Fill up of Agency form
IRDA Training (50 hrs)
IRDA Exam
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Fail Pass
Exit Product Training
Traditional Pr. ULIP Product
Internal Assessment
Fail Pass
Exit Certification
4.Benefits to FCs
Financial Benefits:
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Commission on issuance of every policy. Commission directly credited to bank

account of FCs within 15 days. These commission varies from 7.5-40% according
to plan.
BASIC COMMISSION
First year Commission payable on regular premium conventional policies issued

on or after 21st march 2007
Name of the plan 1st year
commission
Endowment Assurance plan 40%
Money Back plan 40%
Children’s plan 40%
Term Assurance plan 25%
Lone cover Term Assurance plan 25%
Personal Pension Plan 7.5%
RENEWAL COMMISSION:
Renewal commission would be paid from the 2nd year onwards on regular premium
policies. Renewal commission is not payable on single premium plans.
Name of the plan Renewal commission 2nd

year onwards
Endowment Assurance plan 5%
Money Back Plan 5%
Children’s plan 5%
Lone cover Term Assurance Plan 5%
Term Assurance plan 5%
Personal Pension Plan 2%
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BONUS COMMISSION
Bonus commission would be payable on the first year premium received and
adjusted on the regular premium policies under the following plans,
1.Endowment Assurance Plan
2.Money Back Plan
3.Children’s Plan
4.Term Assurance Plan
5.Lone Cover Term Assurance Plan
Bonus commission is not payable on the single premium plans and on the
policies issued under the Personal Pension Plan and all Unit Linked Plans.
Bonus commission rate would depend on financial consultant crossing the
minimum RNEP(Received Net Effective Premium) within one year.
Period RNEP Bonus commission % of the 1st year

Premium received
In one year 1,00,000 5%
1,50,000 10%
2,25,000 15%
REWARDS & RECOGNITION

Within 30 days of Licensing Consultant can become
STAR – Converted premium 2 Lacs
Silver Medal-Worth Rs 5200(approx)
RISING STAR – Converted premium of 5 Lacs
Gold Medal-Worth Rs 13,000(approx)
MILLIONAIRE STAR – Converted premium of 10 Lacs
GLOBAL STAR – Converted premium of 24 Lacs
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Extra Payouts for STAR Performers
Star Performers Club

Status Bronze Silver Glod Centurion
Benefits 1%max 2.5%,max 5%,no upper Graded-
Rs.5999 Rs.37499 limit 4.5%to8.5%
Additional status 0.50% 1.00% 1.50%
retention Bonus
MONTHLY & QUARTERLY CONTESTS
There are various Sales linked monthly & quarterly contests occur in which FCs
has opportunity to gain something. Like
• Gift Vouchers
• Home Appliances
• Two-Wheelers
• Gold/Diamonds Jewelry
• Foreign Trips
• Mobile Phones
• Laptops
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• Cars etc.
OTHER BENEFITS
• On field support- Joint fieldwork with respective SDM/BDM.
• Training support – Various training modules to enhance your sales skills,

interpersonal skills etc.
• Marketing support – Consumer Contact Programs.

• Availability of office infrastructure for telecalling, quotations, benefits
illustration etc.
• Consultant corner to access illustration, sales done, and contest updates etc.
• Personal email id.
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I. RESEARCH METHODOLOGY
All the findings and conclusions obtained are based on the survey done in the
working area within the time limit. I tried to select the sample representative of the
whole group during my job training. I have collected data from Chartered
Accountants, Tax Consultants, Businessman, Share Brokers, Lawyers, Working
Professionals, House Wives and Retired Persons in Pune.
1. OBJECTIVES OF RESEARCH PROJECT:

PRIMARY OBJECTIVES:
• To recruit more and more Financial Consultant and to promote the benefits
those are provided by HDFC Standard Life to its Financial Consultants
• To find the different way of recruiting and selecting the Financial
Consultants who can produce more and fruitful results.
• To study awareness of the HDFC Standard life insurance
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SECONDARY OBJECTIVES:
• To determine the need and purpose of Financial Consultant.

• To understand the deciding criteria for people to become Financial
Consultant.
• To collect and analysis the information of prospect candidates in order to
make them appear in front of management so that they can be selected as
Financial consultant. To offer suggestions based upon the findings.
2. RESEARCH PLAN:
1. Preliminary Investigation: In which data on the situation surrounding the

problems shall be gathered to arrive at
• The correct definition of the problem.
• An understanding of its environment.
2. Exploratory Study: To determine the approximate area where the problem lies.
3 RESEARCH DESIGN:
Research was initiated by examining the secondary data to gain insight into the
problem. By analyzing the secondary data, the study aim is to explore the short
comings of the present system and primary data will help to validate the analysis
of secondary data besides on unrevealing the areas which calls for improvement.
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4. DEVELOPING THE RESEARCH PLAN:
The data for this research project has been collected through self Administration.
Due to time limitation and other constraints direct personal interview method is
used. A structured questionnaire was framed as it is less time consuming, generates
specific and to the point information, easier to tabulate and interpret. Moreover
respondents prefer to give direct answers. In questionnaires open ended and closed
ended, both the types of questions has been used.
5.COLLECTION OF DATA:
1: Secondary Data: It was collected from internal sources. The secondary data
was collected on the basis of organizational file, official records, news papers,
magazines, management books, preserved information in the companies database
and website of the company.
2: Primary data: All the Chartered Accountants, Tax Consultants, Insurance
Agents, Auto loan providers were personally visited and interviewed. They were
the main source of Primary data. The method of collection of primary data was
direct personal interview through a structured questionnaire.
6. SAMPLING PLAN:
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Since it is not possible to study whole universe, it becomes necessary to take

sample from the universe to know about its characteristics.
• Sampling Units: Chartered Accountants, Tax Consultants, Lawyers,

Business Man, Professionals and House Wives of Pune.
• Sample Technique: Random Sampling.
• Research Instrument: Structured Questionnaire.
• Contact Method: Personal Interview.
J. DATA ANALYSIS, INTERPRETATION AND PRESENTATION
1.Your Age?
TABLE
Sr. No. Category No. of Percentage
Respondents
1 18-23 Years 20 20%
2 24-29 Years 70 35%
3 30-35 Years 60 30%
4 35 & above 30 15%
Total 200 100%
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Base 200
respondents
GRAPH
Interpretation
From the table and graph above it can be seen that
➢ 20% respondent’s age are 18 to 23 years.
➢ 15% respondent’s age are 35 to above years.
2. Marital status?
TABLE
Respondents
1 Married 140 70%
2 Unmarried 60 30%
Total 200 100%
Base 200 respondents
GRAPH
Interpretation
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➢ 70% respondent’s are married.

➢ 30% respondent’s are unmarried.
3. Educational Qualification?
TABLE
Respondents
1 Under graduate 50 25%
2 Graduate 80 40%
3 Post graduate 70 35%
Total 200 100%
GRAPH
Interpretation
➢ 25% respondent’s are Under graduate.
➢ 40% respondent’s are Graduate.
➢ 35% respondents are Post graduate.
4. Number Of year’s Are You in Pune?
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TABLE
Respondents
1 Less than five years 78 39%
2 More than five 122 61%
years
Total 200 100%
GRAPH
Interpretation
➢ 39% respondent’s are in Pune is less than five year’s.
➢ 61% respondent’s are in Pune is more than five year’s.
5. Your Occupation?
TABLE
Respondents
1 Business 40 20%
2 Profession 108 54%
3 Service 52 26%
Total 200 100%
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GRAPH
Interpretation
➢ 20% respondent’s Occupation is Business.
➢ 26% respondent’s Occupation is Profession.
➢ 54% respondent’s Occupation is Service.
6. Your annual household income?

TABLE
Respondents
1 Less than 2 lacs 98 49%
2 Between 2 to 5 lacs 62 31%
3 Between 5to 8lacs 30 15%
4 More than 8 lacs 10 5%
Total 200 100%
GRAPH
Interpretation
➢ 49% respondent’s annual household income is less than 2 lacs.
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➢ 31% respondent’s annual household income is between 2 to 5 lacs.

➢ 15% respondent’s annual household income is between 5 to 8 lacs.
➢ 5% respondent’s annual household income is more than 8 lacs.
7. Are you a member of a club/gymkhana?

TABLE
Respondents
1 Yes 84 42%
2 No 116 58%
Total 200 100%
GRAPH
Interpretation
➢ 42% respondent’s are member of a club/gymkhana.
➢ 58% respondent’s are not member of a club/gymkhana.
8. What is your perception about insurance sector?

TABLE
Respondents
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1 Hard and lucrative 60 30%

2 Hard but not rewarding 18 9%
3 Smooth and rewarding 82 41%
4 No idea 40 20%
Total 200 100%
GRAPH
Interpretation
➢ 30% respondent’s perception about insurance sector is Hard & lucrative.
➢ 9% respondent’s perception about insurance sector is hard but not
rewarding.
➢ 41% respondent’s perception about insurance sector is Smooth &
rewarding.
➢ 20% respondent’s perception about insurance sector that they have no
idea.
9. Do you know about HDFC Standard Life Insurance?
TABLE
Respondents
1 Yes 164 82%
2 No 36 18%
Total 200 100%
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GRAPH
Interpretation
➢ 85% respondent’s are known about HDFC Standard life insurance.
➢ 15% respondent’s are not known about HDFC Standard life insurance.
➢
10. Do you have any Insurance Policy?
TABLE
Respondents
1 Yes 160 80%
2 No 40 20%
Total 200 100%
GRAPH
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Interpretation
➢ 80% respondent’s have insurance policy.
➢ 20% respondent’s do not have insurance policy.
11. Name of Insurance Company?
TABLE
Respondents
1 LICI 104 65%
2 ICICI 16 10%
3 HDFC SLIC 8 5%
4 OTHERS 32 20%
Total 160 100%
GRAPH
Interpretation
➢ 65% respondent’s are insured by LICI.
➢ 10% respondent’s are insured by ICICI.
➢ 5% respondent’s insured by HDFCSLIC.
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➢ 20% respondent’s insured by OTHERS.

12. Do you hold any license of any insurance company?
TABLE
Respondents
1 Yes 70 35%
2 No 130 65%
Total 200 100%
GRAPH
Interpretation
➢ 35% respondent’s are holding license of any insurance company.
➢ 65% respondent’s are not holding license of any insurance company.
13. Are you satisfied with the company?

TABLE
Respondents
1 Yes 42 60%
2 No 28 40%
Total 70 100%
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Base 70 respondents
GRAPH
Interpretation
➢ 60% respondent’s are satisfied with their insurance company.
➢ 40% respondent’s are not satisfied with their insurance company.
14. Do you know about HDFC Standard Life Insurance recruitment policies
related to financial consultant?
TABLE
Respondents
1 Yes 82 41%
2 No 118 59%
Total 200 100%
GRAPH
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Interpretation
➢ 41% respondent’s are known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
➢ 59% respondent’s are not known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
15. Will you be interested to become Financial Consultant?

TABLE
Respondents
1 Yes 60 30%
2 No 140 70%
Total 200 100%
GRAPH
Interpretation
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➢ 30% respondent’s are interested to become financial consultant.

➢ 70% respondent’s are not interested to become financial consultant.
16. Would you like to earn an additional income through a business opportunity
with HDFC STANDARD LIFE?
TABLE
Respondents
1 Yes 54 90%
2 No 6 10%
Total 60 100%
Base 60 respondents
GRAPH
Interpretation
➢ 90% respondent’s are interested to earn additional income.
➢ 10% respondent’s are not interested to earn additional income
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K. SWOT Analysis :-
HDFC and Standard Life came together for a possible joint venture, to
enter the life Insurance market, in January 1995. It was clear from the
outset that both companies shared similar values and beliefs and a strong
relationship quickly formed. In October 1995, the companies signed a 3-
year joint venture agreement.
1. STRENGTH
1. Domestic image of HDFC supported by Prudential’s international
image is strength of the company.
2. Strong and well spread network of qualified intermediaries and sales
person.
3. Strong capital and reserve base.
4. The company provides customer service of the highest order.
5. Huge basket of product range which are suitable to all age and income
groups.
6. Large pool of technically skilled manpower with in depth knowledge
and understanding of the market.
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7. The company also provides innovative products to cater to different

needs of different customers.
2. WEAKNESS
1. Heavy management expenses and administrative costs.
2. Low customer confidence on the private players.
3. Vertical hierarchical reporting structure with many designations and
cadres leading to power politics at all levels without any exception.
4. Poor retention percentage of tied up agents.
3. OPPORTUNITIES
1. Insurable population –According to ING only 10% of the population
is insured, which represents around 30% of the insurable population.
This suggests more than 300m people, with the potential to buy
insurance, remain uninsured.
2. There will be inflow of managerial and financial expertise from the
world’s leading insurance markets. Further the burden of educating
consumers will also be shared among many players.
3. International companies will help in building world class expertise in
local market by introducing the best global practices.
4. THREATS
1.Other Private Insurance Companies Also vying For The Same

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uninsuranced Population.
2.Big Public Secter insurance Companies Like LIC India, National
insurance Company Ltd, Oriented Insurance Ltd, New India Assurance
Company Ltd, And United Insurance Company Ltd. People Trust Them
And go to them more.
3.Poaching of Customer by other companies.
4.Most People donot understand the need or are not willing to take
insurance policies in general.
L. CONCLUSIONS & SUGGESTIONS
1. CONCLUSIONS:
HDFC Standard Life, the insurance arm of HDFC is expected to go on

stream. Promoted by HDFC & Standard Life, already has good number of
employees on board and is recruiting Financial Consultants heavily to take the
headcount to many more. It is on the brim of increasing its client through its
attractive schemes and offer.
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The project opportunities provided was market segmentation and identifying

prospective clients in potential geographical location and for recruiting them as
financial consultant so to explore new Business Opportunity. Through this project,
it could be concluded that people are not much aware about the various benefit of
being Financial Consultant that are currently prevailing in the insurance industry.
Insurance was considered as unsought good which require hard core selling,
but in changing trend in income and people becoming financially literate, the
demand for insurance is increasing day by day. So, it is the company that first
approaches gets its share of reward. Proper after sale service can help the advisors
to generate more business. Gradually people are realizing the fact that insurance is
not a necessary evil but means to attain worry free life.
This activity much attract unemployed people as for them a source of

income is a great help for developing there future. Company’s promotional
activities for recruiting Financial Consultant are also very less.
So, at last the conclusion is that there is tough competition ahead for the
company from its major competitors in terms of number of Financial Consultants.
Last but not the least I would like to thank HDFC SLI for giving me an
opportunity to work in the field of Financial Consultant. I hope the company finds
my analysis relevant.
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2. SUGGESTIONS:
Finally some recommendations for the company are as fallows:-

➢ To make people aware about the benefit of becoming HDFC Standard Life’s
Financial Consultant, following activities of advertisement should be done
through
1. Print Media.
2. Hoarding & Banners.
3. Stalls in Trade Fares
4. Distribution of leaflets containing details information.
5. Company can recruit sales promoters so that maximum information
can be provided to the potential client.
➢ By showing additional and alternative income source along with various

schemes for Financial Consultant in the company so that more and more FC
can be recruited.
➢ Free life cover for every active Financial Consultant.
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➢ Discounted rate premium for its family members.
➢ Make people understand about the meaning of the IRDA authorization and
its validity.
➢ Company should organize the program in the society, so that people will be
aware about the company
➢ Separate time slot for Working Professionals, House Wives and Retired
people.
➢ Agency of non-life products should also be provided along with life.
➢ Company should open more branches in different cities
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M. ANNEXURE
Dear Sir/Madam,
I am a student of MUENCHEN INTERNATIONAL BUSINESS
SCHOOL, Pune and presently doing a market survey “MARKET RESEARCH ON
FINANCIAL CONSULTANTS FOR HDFCSLIC, PUNE”. I request you to kindly
fill the questionnaire below and I assure you that the data generated shall be kept
confidential.
Name: ………………………………………………………………………..
Address: ……………………………………………………………………..
Contact No :®………………( O)……………… (M)………………………
City: ………...............Pin: ………………….State: ……………………….
1. Your Age: ____________________
2. Education Qualification.
• Undergraduate □
• Graduate □
• Post graduate □
3. Marital Status.
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• Married □
• Single □
No. of Children: __________
4. Number Of year’s Are You in Pune.
• Less than five year’s □

• More than five year’s □
5. Occupation.
• Business □
• Profession □
• Service □
(Please mention below the type of business/profession you are in incase of service please
mention your organization name and designation)
6.Your annual household income.
• <than 2 lack □
• Between 2 to 5 lack □
• Between 5 to 8 lack □
• >than 8 lack □
7.Are you a member of a club/gymkhana?
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• Yes □
• No □
If yes, Name of the club /gymkhana_______________________________________
8. What is your perception about insurance sector?
• Hard &lucrative □
• Hard but not rewarding □
• Smooth &rewarding □
• No idea □
9. Do you know about HDFC SLIC?
• Yes □
• No □
10.Do you have any insurance policy?
• Yes □
• No □
11.Name insurance company?
• LICI □ ICICI
• HDFC SLIC □ OTHERS

If others, please specify___________________________________________________
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12. Do you hold any license of any insurance company?
• Yes □
• No □
If yes, please specify which company________________________________________
Reason______________________________________________________________
13. Are you satisfied with the company?
• Yes □
• No □
Reason specify_________________________________________________________
14. Do you know about HDFC SLIC’s recruitment policies related to financial consultant?
• Yes □
• No □
15. Will you be interested to become financial consultant?
• Yes □
• No □
16. Would you like to earn an additional income through a business opportunity with HDFC
STANDARD LIFE?
88
_____________________________________________________________________
• YES □
• NO □
Date:
Place: Signature
Thank You
N. BIBLIOGRAPHY
The following companies and association’s web sites were referred while
collecting information used in the research.
1 . Internet Source
• http://www.statebankofindia.com
• http://www.birlasunlife.com
• http://www.utibank.com/
• http://www. Hdfcinsurance.com
• http://www.licindia.com
• http://www.hdfcbank.com
• http://www.irdaindia.org
2. Books/Magazines Refferd
➢ Study Guide- Principles & Practices of Life Insurance By AIMA.
➢ Books Published By INSURANCE INSTITUTE OF INDIA.
89
_____________________________________________________________________
➢ LIFE INSURANCE By Mc Gill.
➢ INSURANCEWATCH.
➢ MONEYOUTLOOK.
3. Reports/Articles Reffered
Report: ISSUES & CHALLENGES FACING THE INSURANCE

INDUSTRY Dec 2008
90
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Recruiting & Selection of FC's in HDFC SLIC by VINOD Final

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HDFC STANDARD LIFE INSURANCE, PUNE

RECRUITMENT AND SELECTION AT

HDFC STANDARD LIFE INSURANCE COMPANY LTD

RECRUITMENT AND SELECTION

HDFC STANDARD LIFE INSURANCE COMPANY LTD

SESSION: 2008 – 2010

MUENCHEN INTERNATIONAL BUSINESS SCHOOL

At the very outset, I would like to take golden opportunity of thanking

Vinod kumar Prajapat

This project well bred “RECRUITMENT& SELECTION OF FINANCIAL

I somewhere different for any other degree, credential have not

B. Objective of the study :- 8

C. Introduction of HDFC SLIC :- 9 - 15

D. The Promoters :- 16-21

E. The Company And Its Product Line :- 22-32

F. Features Of The Product & Benefits :- 33-38

G. Marketing Strategies :- 39-48

H. Recruitment Of FC’s :- 49-56

I. Research Methodology :- 57-59

J. Data Analysis, Interpretation And Presentation :- 60-76

K. SWOT Analysis :- 77-78

Project Title: RECRUITMENT & SELECTION OF FINANCIAL

C. HDFC STANDARD LIFE INSURANCE

Finance Corporation Limited (HDFC Ltd.), India’s leading housing finance

Mr. Alexander M Crombie joined the Board of Directors of the Company in

Ms. Marcia D Campbell is currently the Group Operations Director in the

Mr. Keith N Skeoch is currently the Chief Executive in Standard Life

Mr. Gautam R Divan is a practising Chartered Accountant and is a Fellow of the

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on

Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a graduate

HDFC was incorporated in 1977 with the primary objective of meeting a

The primary objective of HDFC is to enhance residential housing stock

HDFC's main goals are to

HDFC operates through 75 location throughout the country with its

international office in Dubai, U.A.E.,with service associates in Kuwait,

STANDARD LIFE GROUP

The Standard Life Assurance Company ("Standard Life") was

HDFC Standard Life Insurance Company Ltd

1.Joint ventures and associated undertakings

Country of registration or Share class Name incorporation and

At any of Our branches

You can deposit Cheque / Demand Draft drawn in favour of “HDFC

Electronic Clearing Service (ECS) or Auto Debit facility of RBI

Agra, Ahmedabad, Allahabad, Amritsar, Aurangabad, Bangalore, Bardhaman, Baroda, Bhilwara,

Standing Instructions (SI) Mandate

Credit Card Facility

Checklist while paying your renewal premium through

In case of any overwriting on your cheque, please countersign the same

E. THE COMPANY AND ITS PRODUCT LINE:-

Bancassurance is the selling of insurance

FINANCIAL POSITION OF HDFC SLIC IN FY 2008-09

driven by the success of the company's initiative on structured sales processes

Highlights of Financial Year 2008-09

Young and Single

Provide for children’s education

Provide for regular income post retirement

F. FEATURES OF THE PRODUCT & BENIFIT

Competition in the market always proves favourable to the consumer. So it is in

Now the base.

7.Money Back Plan

There is a choice of paying the premium in yearly, half-yearly or quarterly modes

Money Back Plan