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A PROJECT REPORT ON

A COMPARITIVE STUDY OF INVEST SHIELD LIFE OF ICICI PRUDENTIAL WITH OTHER INSURANCE COMPANIES

Dissertation Sub itte! to "an#a$ore Uni%esit& to'ar!s t(e Partia$ Fu$)i$$ ent o) Re*uire ent )or t(e A'ar! o)

MASTER OF "USINESS ADMINISTRATION


To

"AN+ALORE UNIVERSITY

"Y

Mr,IRANNA SHIVALIN+APPA,
Re#, No,- ./ACCM0.12,
Under the guidance of
"AN+ALORE

CONTENTS

List o) Tab$es
Chapter No.
1.

Title

Page No.

Introduction.
a. Introduction to Finance. b. Investment alternatives

c. Insurance

Regulatory

and

Development Act (IRDA).


d. Composition Of Insurance Industry e. History of Insurance f. Insurance in India A historical prospective g. Life Insurance Mar et h. !inds of Insurances

i. "eed for the Insurance


2. Research Design. a. Introduction b. #tatement of the problem c. Ob$ective of the study d. #cope of the study e. Operational definitions of the concept f. Methodology of research %ype of &esearch #ample si'e %ools of data collection Method of analysis g. Limitations of the study h. Chapter scheme Company Profile. Presentation and nalysis of Data ! Interpretation. #ummary of $indings% Conclusion and Recommendations.
&I&'I()R P*+. NN,-.R,.

3. 4. ".

(uestionnaire.

%able "o.
%able *.+ %able *..

TITLE

)age "o.

#ho,ing Minimum and Ma-imum Age of Investor

#ho,ing Minimum and Ma-imum term for Investment

%able *./ %able *.0 %able *.1 %able *.* %able *.4 %able *.5

#ho,ing the sum assured by the insurance companies #ho,ing the maturity benefit to investors #ho,ing the 2eath benefit to investors #ho,ing the 3ithdra,al benefit to investors

#ho,ing the Contribution by investors #ho,ing the 6-tended life coverage to investors

%able *.7

#ho,ing the Fle-ibility to increase or decrease the contribution by investors

%able *.+8

#ho,ing the Investment options to investors

%able *.++ %able *.+.

#ho,ing the #urrender value #ho,ing the Automatic )remium payment to investors

%able *.+/

#ho,ing the Increase 9 decrease of death benefit to investors

%able *.+0 %able *.+1 %able *.+* %able *.+4 %able *.+5 %able *.+7 %able *..8 %able *..+

#ho,ing the Additional credits to investors #ho,ing the fle-ibility of %op:up to investors #ho,ing the fle-ibility of #,itch to investors S(o'in# Initia$ 3(ar#e to t(e in%estors #ho,ing Admin charge to the investors #ho,ing Fund management charge to the investors #ho,ing &iders benefit to the investors #ho,ing the best insurance company in the unit:lin ed plan

List of Graphs

)raph No.
Graph 6.1 ;raph *.. ;raph *./ ;raph *.0 ;raph *.1 ;raph *.* ;raph *.4

TITLE

Page No.

#ho,ing Minimum and Ma-imum Age of Investor #ho,ing Minimum and Ma-imum term for Investment #ho,ing the Contribution by investors #ho,ing the Investment options to investors

#ho,ing the #urrender value #ho,ing the Additional credits to investors #ho,ing the best insurance company in the unit:lin ed plan

CHAPTER- 4

INTRODUCTION.
In the wonder ul world o !nance there are w!de "ar!ty o cho!ces ava!la#le one

needs to understand the d! erent !nvestment alternat!ves such as stoc$s% #onds% government secur!t!es% #an$ !&ed depos!ts% pr!vate company depos!ts ' !nsurance. The goal !s to help reduce r!s$ and enhance returns. (! e Insurance !s a contract or payment o a sum o money to the person assured (or a!l!ng h!m)her% to the person ent!tled to rece!ve the same) on the happen!ng o the event !nsured aga!nst. Usually the contract prov!des or the payment o an amount on the date o matur!ty or at spec! !ed dates at per!od!c !ntervals or at un ortunate death% ! !t occurs earl!er.

At ICICI *UD+NTIA(% there !s constantly str!ve to understand !nvestors need and prov!de solut!ons that help them to plan there uture #etter. In $eep!ng w!th that endeavor% ICICI present IN"+,T ,-I+(D (I.+% regular prem!um un!t l!n$ed plan w!th cap!tal guarantee. The spec! !c o#/ect!ves o the present study are To study the structure o !nsurance company and !nsurance mar$et% To study the e&!st!ng #us!ness o !nsurance !ndustry% To study the !nvestors0 #ehav!or regard!ng !nsurance% To study the percept!on level o !nsurance compan!es towards customers% To study the w!de spectrum o !nsurance compan!es w!th a s!ngle !nvestment pol!c!es% To evaluate the insuran3e mar$et under Un!t1l!n$ed *lan w!th Cap!tal 2uarantee.
ICICI g!ves more opportun!ty to the !nvestors !n Age actor as !t starts rom the #!rth o the ch!ld. The ,urrender value !n ICICI has a greater value as !t starts a ter 3 st year% wh!ch !s 345. In 6+T (I.+ the +&tended l! e coverage ac!l!ty !s most #ene !c!al as !t covers t!ll the age o 77. The le&!#!l!ty to Increase ) Decrease the Investors contr!#ut!on

!s outstand!ng !n 6+T (I.+. The .und management charges !n 8IR(A ,UN(I.+ are more a orda#le #y an !nvestor.

Insurance has a un!9ue eature% !.e.% r!s$ cover or l! e. +ven through return !s !n !nsurance% !t !s !mportant !nstrument !n !ts port ol!o to ul !ll the monetary loss o the !nvestors towards the!r dependants. (ong1term pol!c!es are #etter than med!um term and short1term pol!c!es or #etter uture arrangements. 8y entry o pr!vate !nsurance players !n the mar$et% there are new products% wh!ch also ta$e care o your !nvestments.

Company should concentrate on the :;1<4 year age group% #ecause th!s !s the t!me when people show more !nterest !n !nvestment. There should #e some arrangement o telecast!ng the!r products !n reg!onal telev!s!on !n order to reach the rural people. 6ore reputat!on !s needed or the company% as !nsurance pol!c!es are sold on the #as!s o rel!a#!l!ty.

Introduction to finance
.!nance !s one o the ma/or elements% wh!ch act!vates the overall growth o economy. .!nance !s the l! e#lood o econom!c act!v!t!es. The study o #us!ness !nance !s concerned w!th the prov!s!on% low and use o !nance w!th!n a #us!ness organ!=at!on and w!th demand or% and supply o % unds or #us!ness w!th!n the economy as a whole. .unds or a #us!ness are o#ta!ned rom a var!ety o sources and !t may #e class! !ed !n two ma/or categor!es namely !nternal and e&ternal. Internal unds are o#ta!ned #y retent!on o a port!on o the company0s own revenue stream. +&ternal !nanc!ng% on the other hand% representat!on a trans er o cap!tal unds to the #us!ness orm other #us!ness un!ts or !nd!v!duals or !nst!tut!ons !n the orm o loans or add!t!onal ownersh!p cap!tal.

FINANCIAL MANAGEMENT
.!nanc!al management emerged as a d!st!nct !eld o study at turn o the country. Its evolut!on may #e d!v!ded !nto three #road phases> the trad!t!onal phase% the trans!t!onal phase and the modern phase. ,!nce the #eg!nn!ng o the modern phase many s!gn! !cant and sem!nal developments have occurred !n the !elds o cap!tal #udget!ng% cap!tal structure theory% e !c!ent mar$et theory% opt!on pr!c!ng theory% agency theory% ar#!trage pr!c!ng theory% valuat!on models% d!v!dend pol!cy% wor$!ng cap!tal management% and #ehav!oral !nance.

5EY ACTIVITIES OF FINANCIAL MANA+EMENT


.!nanc!al analys!s% plann!ng and control 6anagement o !rms assets structure 6anagement o !rms !nanc!al structure

SCOPE OF FINANCE FUNCTION>

+st!mat!ng !nanc!al re9u!rement

Dec!d!ng cap!tal structure ,elect!ng a source o !nance *roper cash management ,elect!ng a pattern o !nvestment Implement!ng !nanc!al controls

THREE MAIN FINANCIAL DECISIONS


Investment dec!s!on .!nanc!ng dec!s!on D!v!dend dec!s!on !nanc!al management% scope o !nance

-av!ng d!scussed $ey act!v!t!es o

unct!ons and three ma!n !nanc!al dec!s!ons !t !s necessary to concentrate on THE

INDIAN FINANCIAL SYSTEM wh!ch !s a #ac$ #one to all the a#ove.


FUNCTIONS OF FINANCIAL SYSTEM:

It prov!des a payment system or the e&change o goods and serv!ces It ena#les the poll!ng o unds or underta$!ng large1scale enterpr!se It prov!des a mechan!sm or spat!al and temporal trans er o resources It prov!des a way or manag!ng uncerta!nty and controll!ng r!s$ It generates !n ormat!on that helps !n co ord!nate decentral!=ed dec!s!on ma$!ng It helps !n deal!ng w!th the pro#lem o !n ormat!onal asymmetry

Investment alternatives

As an !nvestor you have a w!de array o !nvestment avenues ava!la#le to you. ,acr! !c!ng some r!gor% #ew!lder!ng range o !nvestment alternat!ves !s ava!la#le. They all !nto two #road categor!es% v!=. !nanc!al assets and real assets are paper (or electron!c) cla!ms on some !ssuer such as the government or a

corporate #ody. The !mportant !nanc!al assets are e9u!ty shares% corporate de#entures% government secur!t!es% and depos!t w!th #an$s% mutual und shares% !nsurance pol!c!es% and der!vat!ve !nstruments. Real assets are represented #y tang!#le assets l!$e a res!dent!al house% a commerc!al property% an agr!culture arm% old% prec!ous stones% and art o#/ects. As the economy advances% the relat!ve !mportance o !nanc!al assets tends to !ncrease. O course% #y and large the two orms o !nvestment o !nanc!al assets tend to !ncrease. O course% #y and large the two orms o !nvestments are complementary and not compet!t!ve.
.or sens!#le !nvest!ng% you should #e am!l!ar w!th the character!st!cs and eatures o var!ous !nvestment alternat!ves #e ore you. These may #e class! !ed as shown #elow chart.

In%est ent a$ternati%es

Investment alternatives

"on: mar eting financial Mutual fund &eal <onds estate schemes

Money mar et instruments )recious Life 6=uity shares insurance ob$ects

Financial derivatives

THE FINANCIAL SYSTEM


.unds
Depos!ts),hares

Finan3ia$
Commerc!al 8an$s Insurance Compan!es Institutions 6utual .unds *rov!dent .unds Non18an$!ng .!nanc!al Compan!es

,uppl!ers o .unds Ind!v!dual 8us!nesses 2overnments

*r!vate *lacement

Demanders o .unds Ind!v!dual 8us!nesses 2overnments

.unds Se3urit

.!nanc!al 6ar$ets

6oney 6ar$et Insuran3e Re#u$ator& an! De%e$o6 ent Aut(orit& 7IRDA8 Cap!tal 6ar$et

On the recommendat!on o Ma$(otra Co

ittee% an Insurance Regulatory

Development Act 7IRDA8 passed #y Ind!an *arl!ament !n 377<.

MISSION
Its ma!n a!m !s to act!vate an !nsurance regulatory apparatus essent!al or proper mon!tor!ng and control o the Insurance !ndustry. To protect the !nterests o the pol!cyholders% to regulate% promote and ensure orderly growth o !nsurance !ndustry and or matters connected therew!th or !nc!dental thereto. Due to th!s Act several Ind!an pr!vate compan!es have entered !nto the !nsurance mar$et% and some compan!es have /o!ned w!th ore!gn partners. Re orms !n the Insurance sector were !n!t!ated w!th the passage o the IRDA 8!ll !n *arl!ament !n Decem#er 3777. The IRDA s!nce !ts !ncorporat!on as a statutory #ody !n Apr!l :444 has ast!d!ously stuc$ to !ts schedule o ram!ng regulat!ons and reg!ster!ng the pr!vate sector !nsurance compan!es. The other dec!s!ons ta$en s!multaneously to prov!de the support!ng systems to the !nsurance sector and !n part!cular the l! e !nsurance compan!es were the launch o the IRDA0s onl!ne serv!ce or !ssue and renewal o l!censes to agents. The approval o !nst!tut!ons or !mpart!ng tra!n!ng to agents has also ensured that the !nsurance compan!es would have a tra!ned wor$ orce o !nsurance agents !n place to sell the!r products% wh!ch are e&pected to #e !ntroduced #y early ne&t year. ,!nce #e!ng set up as an !ndependent statutory #ody the IRDA has put !n a ramewor$ o glo#ally compat!#le regulat!ons. In the pr!vate sector 3: l! e !nsurance and ? general !nsurance compan!es have #een reg!stered. ,ect!on 3@ o IRDA ACT% 3777 lays down the dut!es% powers and unct!on o IRDA. ,u#/ect to the prov!s!on o th!s act and any other law or the t!me #e!ng !n orce% the author!ty shall have the duty to regulate% promote and ensure orderly o the !nsurance #us!ness and re !nsurance #us!ness.

The Po er! and function of the authorit" !ha## inc#ude$

Issue to the appl!cant a cert! !cate o reg!strat!on% renew% mod! y% w!thdraw% suspend or cancel such reg!strat!on. *rotect!on o the !nterests o the pol!cy holders !n matters concern!ng ass!gn!ng o pol!cy% nom!nat!on #y pol!cy holders% !nsura#le !nterest% solv!ng !nsurance cla!m% surrender value o pol!cy and terms and cond!t!ons o contract o !nsurance. ,pec! y!ng re9u!s!te 9ual! !cat!ons% code o conduct and pract!cal tra!n!ng or !nter med!ators or !nsurance !ntermed!ately and agents. ,pec! y!ng re9u!s!te 9ual! !cat!ons% code or surveyors and loss assessors. (evy!ng ees and other charges or carry!ng out the purposes o th!s act. *romot!ng e !c!ency !n the conduct o !nsurance and re!nsurance #us!ness. *romot!ng and regulat!ng pro ess!onal organ!=at!ons connected w!th the !nsurance and re !nsurance #us!ness. Call!ng or !n ormat!on rom% underta$!ng !nspect!on o % conduct!on en9u!res and !nvest!gat!ons !nclud!ng aud!t o the !nsurers% !ntermed!ar!es% !nsurance !ntermed!ar!es and other organ!=at!ons connected w!th the !nsurance #us!ness. Control and regulat!on o the rates% advantages% terms and cond!t!ons that may #e o ered #y !nsurers !n respect o general !nsurance #us!ness not so controlled and regulated #y the Tar! Adv!sory comm!ttee u)s sect!on ?@U o the Insurance Act% 37<A (@ o 37<A). ,pec! y!ng the orm and manner !n wh!ch #oo$s o account shall #e ma!nta!ned and statement o accounts shall #e rendered #y !nsurers and other !nsurance !ntermed!ar!es. Regulat!ng !nvestment o unds #y !nsurance compan!es. Regulat!ng ma!ntenance o merg!ng o solvency. Ad/ud!cat!on o !ntermed!ar!es. ,uperv!s!ng the unct!on!ng o the tar! adv!sory comm!ttee. ,pec! y!ng the 5 o prem!um !ncome o the !nsurer to !nance schemes or promot!ng and regulat!on pro ess!onal organ!=at!ons re erred to !n clause ( ). ,pec! y!ng the 5 o l! e !nsurance #us!ness and general !nsurance #us!ness and general !nsurance #us!ness to #e underta$en #y the !nsurer !n the rural or soc!al sector. d!sputes #etween !nsurers and !ntermed!ar!es or !nsurance

+&erc!s!ng such other powers as may #e prescr!#ed.

IRDA also try to generate the awareness and regulate the l! e !nsurance sector. .or th!s /o# government also use the pr!nt med!a v!=. newspapers and maga=!nes etc. to or pu#l!c !nterest. ,ome o the advert!sement cutt!ngs are attached !n anne&ure at end o the pro/ect.

Co 6osition O) Insuran3e In!ustr&


T(e insuran3e in!ustr& Insuran3e CarriersInsurance carr!ers are large compan!es that prov!de !nsurance and assume covered #y the pol!cy Insuran3e A#entsAn !nsurance agent ta$es up an agency or sell!ng l! e !nsurance pol!c!es% wh!le the !nsurance underwr!ter rev!ews !nsurance appl!cat!ons and dec!des whether they should #e accepted or re/ected. Insuran3e Sur%e&orsInsurance surveyors are 9ual! !ed !nvest!gators deputed or the assessment o losses% accord!ng to the!r 9ual! !cat!ons and e&per!ence. the r!s$s ain$& 3o 6rises:

A3tuariesAn actuary determ!nes prem!um ratesB stud!es mortal!ty trends% constructs mortal!ty ta#les and lays down underwr!t!ng standards. De%e$o6 ent O))i3ers-

Development o !cers !n the sector are respons!#le or the sale o !nsurance pol!c!es !n the allotted terr!tor!al /ur!sd!ct!on. They recru!t and tra!n !nsurance agents.

PLAYE%S IN LIFE AN& NON$LIFE SECTO%'


LIFE
ICICI *rudent!al (! e Insurance Cota$ 6ah!ndra (! e Insurance 6a& New Dor$ (! e Insurance -D.C ,tandard (! e Insurance 8a/a/ All!an= (! e Insurance 8!rla ,un (! e Insurance Av!va (! e Insurance IN2 "ysya (! e Insurance Rel!ance (! e Insurance Tata AI2 (! e Insurance 6et(! e Insurance ,8I (! e Insurance (IC

NON 9 LIFE
ICICI1(om#ard Insurance Rel!ance 2eneral Insurance I..CO1To$yo 2eneral Insurance -D.C Chu## 2eneral Insurance 8a/a/ All!an= 2eneral Insurance Royal ,undaram 2eneral Insurance Cholamandalam 2eneral Insurance Nat!onal Insurance Company New Ind!a Assurance Company Tata AI2 2eneral Insurance Or!ental Insurance Un!ted Ind!a Insurance

Hi!tor" of In!urance-

I0m sure we0ve all heard o the word% and have an !dea o

how !t wor$s. Is !t a conceptE IdeaE Is !t someth!ng concrete or a#stractE It depends on the conte&t o the s!tuat!on. A 9u!c$% s!mple de !n!t!on o !nsurance could #e as ollows> FRe!m#ursement !n a s!tuat!on o loss. Usually% someone dec!des that !nsurance !s neededG. In order or the concept o !nsurance to ar!se% a pre1payment o some type !s re9u!red. In the case o typ!cal% everyday general auto% health and l! e !nsurance% or e&ample% the pre1payment !s !n the orm o a prem!um. *r!or to the eve o the year :444% thousands o people loc$ed to the stores% stoc$!ng up on numerous suppl!es. They eared that someth!ng catastroph!c was go!ng to ta$e place once the cloc$ struc$ m!dn!ght% and ! so% they wanted to #e prepared. Isn0t th!s a orm o !nsuranceE ,ure1 !n !ts #as!c de !n!t!on. The suppl!es they purchased would act as re!m#ursement !n the case o loss Insurance !s not necessar!ly an !nvestment rom wh!ch one e&pects to get oneHs money

One o) t(e 'or$!:s starte! in a 3o))ee(ouse,

ost

)a ous insuran3e 6ro%i!ers

#ac$. Nor !s !t gam#l!ng. A gam#ler ta$es r!s$s% wh!le !nsurance o ers protect!on aga!nst r!s$s that already e&!st. Insurance !s a way to share r!s$ w!th others.

T(e Ori#ins o) Insuran3e+arly !nsurance goes #ac$ to the +gypt!an t!mes. It was $nown that around <444 8C% Ch!nese merchants d!spersed the!r sh!pments among several vessels to avo!d the poss!#!l!ty o damage or loss. There are some !nsurance compan!es around today !n the Un!ted ,tates that prov!ded !nsurance #ac$ !n the m!d 3I440s% as well as some that prov!ded rel!e to #an$s dur!ng the 37<40s and the 2reat Depress!on.

Insurance has e&!sted or thousands o years. A orm o cred!t !nsurance was !ncluded !n the Code o -ammura#!% a collect!on o 8a#ylon!an laws sa!d to predate the (aw o 6oses. To !nance the!r trad!ng e&ped!t!ons !n anc!ent t!mes% sh!p owners o#ta!ned loans rom !nvestors. I a sh!p was lost% the owners were not respons!#le or pay!ng #ac$

the loans. ,!nce many sh!ps returned sa ely% the !nterest pa!d #y numerous sh!p owners covered the r!s$ to the lenders. It was l!$ew!se !n a mar!t!me sett!ng that later one o the worldHs most amous !nsurance prov!ders% (loydHs o (ondon% was #orn. 8y 3?AA% +dward (loyd was runn!ng a co eehouse where (ondon merchants and #an$ers met !n ormally to do #us!ness. There !nanc!ers who o ered !nsurance contracts to sea arers wrote the!r names under the spec! !c amount o r!s$ that they would accept !n e&change or a certa!n payment% or prem!um. These !nsurers came to #e $nown as underwr!ters. .!nally% !n 3I?7% (loydHs #ecame a ormal group o underwr!ters that !n t!me grew !nto the oremost mar$et or mar!ne r!s$s.

Insuran3e in In!ia 9 A (istori3a$ 6ros6e3ti%e


Insurance #us!ness !s not new to Ind!a. It !nds ment!on !n the wr!t!ngs o 6anu% Ris(i Ya#na%a$;&a and others% !nd!cat!ng that !t has e&!sted !n Ind!a o anc!ent t!mes. It has evolved over t!me and has drawn heav!ly rom the e&per!ence o other countr!es spec!ally +ngland% where !nsurance compan!es have a more than ;44 years o h!story. 8om#ay (! e Assurance Company was esta#l!shed !n 8om#ay (now 6um#a!) on 3st 6ay 3A:<. Or!ental (! e Assurance Company started was !n Calcutta #y +uropeans. The recorded h!story o Insurance #us!ness !n Ind!a% however% #egan !n 373@ when the 2overnment o Ind!a started pu#l!sh!ng returns o Insurance Compan!es !n Ind!a. The Insurance Amendment Act o 37;4 a#ol!shed *r!nc!pal Agenc!es. -owever% there were a large num#er o !nsurance compan!es and the level o compet!t!on was h!gh% there were also allegat!ons o un a!r trade pract!ces. The 2overnment o Ind!a% there ore% dec!ded to nat!onal!=e the !nsurance #us!ness. An Ord!nance !ssued on 37th January 37;? nat!onal!=ed the (! e Insurance sector and H(I.+ IN,URANC+ COR*ORATION O. INDIAH ((.I.C.) came !nto e&!stence !n the same year. The (IC a#sor#ed 3;@ Ind!an% 3? non1Ind!an !nsurers as also I; prov!dent soc!et!es. ,!nce then (IC has #een the only player.

,!m!larly% #e ore Novem#er 37I:% a num#er o Ind!an and many ore!gn compan!es d!d general !nsurance #us!ness !n Ind!a and th!s #us!ness was l!n$ed w!th the!r #ranches a#road. In add!t!on% (IC% some mutual compan!es and cooperat!ve soc!et!es also o ered th!s product. In act% on the eve o nat!onal!=at!on% ?A Ind!an (!nclud!ng (IC) and @; non1Ind!an ent!t!es carr!ed out !nsurance #us!ness !n Ind!a. Nat!onal!=at!on saw the #us!ness o all these organ!=at!ons a#sor#ed #y the 2+N+RA( IN,URANC+ COR*ORATION (2IC) w!th !ts our su#s!d!ar!es. Thus (! e Insurance Corporat!on o Ind!a !n the !eld o l! e !nsurance and 2eneral Insurance Corporat!on o Ind!a !n the !eld o general !nsurance have en/oyed a#solute monopoly. -owever% the re orms !n !nanc!al sector !n the early 74s have s!nce touched Insurance also. The 2ovt. o Ind!a set up a comm!ttee w!th ,hr!. R.N. 6alhotra as the Cha!rman to recommend su!ta#le re orms !n th!s sector. As a conse9uence o the recommendat!on o the 6alhotra Comm!ttee% the 2overnment o Ind!a set up an Insurance Regulatory Author!ty. On the :nd Decem#er 3777% Ind!an *arl!ament has passed% Insuran3e Re#u$ator& an! De%e$o6 ent A3t % throw!ng open the Insurance sector to 8an$s and other pr!vate part!es. ,!nce then% R8I has come out w!th dra t gu!del!nes or entry to th!s sector. Th!s !s seen as a ma/or step !n !nanc!al sector re orms% wh!ch !ntroduce% or the !rst t!me s!nce nat!onal!=at!on o the !nsurance #us!ness% an element o compet!t!on !n th!s sector. Th!s should #r!ng compet!t!vely pr!ced !nsurance or the customer and !mprove the serv!ce ava!la#le to h!m.

Li)e Insuran3e Mar;et


(! e !nsurance !n e&!st!ng orm came !n Ind!a rom UC !n 3A3A w!th Or!ental (! e Insurance Company. The Ind!an l! e Assurance compan!es Act% 373: was the !rst measure to regulate l! e Insurance #us!ness. (ater !n 37:A the Ind!an Insurance Compan!es act was enacted% wh!ch was amended !n 37<A. .!nally 2overnment o Ind!a amended th!s act !n 37;4. (! e Insurance Corporat!on o Ind!a was ormed !n ,eptem#er 37;? #y pass!ng (IC Act% 37;? !n Ind!an parl!ament.

The #us!ness o l! e !nsurance !n Ind!a !n !ts e&!st!ng orm started !n Ind!a !n the year 3A3A w!th the esta#l!shment o the Or!ental (! e Insurance Company !n Col$ota. So(e of the i()ortant (i#e!tone! in the #ife in!urance *u!ine!! in India are: 4<414<1=4<2=4</0The Ind!an (! e Assurance Compan!es Act enacted as the !rst statute to The Ind!an Insurance Compan!es Act enacted to ena#le the government to +arl!er leg!slat!on consol!dated and amended to #y the Insurance Act w!th :@; Ind!an and .ore!gn Insurers and the *rov!dent ,oc!et!es ta$en over #y

regulate the l! e !nsurance #us!ness. collect stat!st!cal !n ormat!on a#out #oth l! e and non1l! e !nsurance #us!nesses. the o#/ect!ve o protect!ng the !nterests o the !nsur!ng pu#l!c. the Central 2overnment and Nat!onal!=ed. (IC ormed #y an Act o *arl!ament% v!=. (IC Act% 4</0> w!th a cap!tal contr!#ut!on o Rs. ; crore rom the 2overnment o Ind!a. The (! e Insurance mar$et !n Ind!a !s an underdeveloped mar$et that was only tapped #y the state owned (IC t!ll the entry o pr!vate !nsurers. The penetrat!on o l! e !nsurance products was 37 percent o the total @44 m!ll!on o the !nsura#le populat!on. The state owned (IC sold !nsurance as a ta& !nstrument% not as a product g!v!ng protect!on. 6ost customers were under1 !nsured w!th no le&!#!l!ty or transparency !n the products. K!th the entry o the pr!vate !nsurers the rules o the game have changed. The 3: pr!vate !nsurers !n the l! e !nsurance mar$et have already gra##ed nearly 3I percent o the mar$et !n terms o prem!um !ncome. The new #us!ness prem!ums o the 3: pr!vate players have tr!pled to Rs :444 crore !n :44@1 4; over last year. 6eanwh!le% state owned (ICHs new prem!um #us!ness has allen. Innovat!ve products% smart mar$et!ng and aggress!ve d!str!#ut!on. ThatHs the tr!ple whammy compan!es to s!gn up Ind!an customers aster than anyone ever e&pected. Ind!ans% who have always seen l! e !nsurance as a ta& sav!ng dev!ce% are now suddenly turn!ng to the pr!vate sector and snapp!ng up the new !nnovat!ve products on o er.

The grow!ng popular!ty o the pr!vate !nsurers shows !n other ways. They are co!n!ng money !n new n!ches that they have !ntroduced. The state owned compan!es st!ll dom!nate segments l!$e endowments and money #ac$ pol!c!es. 8ut !n the annu!ty or pens!on products #us!ness% the pr!vate !nsurers have already wrested over << percent o the mar$et. And !n the popular un!t1l!n$ed !nsurance schemes they have a v!rtual monopoly% w!th over 74 percent o the customers. The pr!vate !nsurers also seem to #e scor!ng #!g !n other ways1 they are persuad!ng people to ta$e out #!gger pol!c!es. .or !nstance% the average s!=e o a l! e !nsurance pol!cy #e ore pr!vat!=at!on was around Rs ;4%444. That has r!sen to a#out Rs A4%444. 8ut the pr!vate !nsurers are ahead !n th!s game and the average s!=e o the!r pol!c!es !s around Rs 3.3 lac$s to Rs 3.: lac$s1 way #!gger than the !ndustry average.

Types of Life Insurance:


Per anent Li)e Insuran3eTh!s !s the one that prov!des or a l! et!me o #ene !ts as long as the prem!ums are pa!d as and when they are due. They are #ene !c!al as one can ta$e a loan on the #ene !ts that can #e ava!led on th!s type o !nsurance. Ter Li)e Insuran3e>

Th!s prov!des protect!on or a preset ) l!m!ted per!od o t!me% and would pay the death #ene !t only on death happen!ng w!th!n the preset t!me. It !s cons!dered to #e a !nsurers re9u!re the !nsured to prov!de proo o the!r !nsura#!l!ty. ICICI *rudent!al (! eguard !s a pol!cy espec!ally des!gned to prov!de !nsurance at a low cost.

Annuit&An Annu!ty !s a contract that prov!des an !ncome or a spec! !ed per!od o t!me% such as a num#er o years. And Annu!ty Cons!derat!on !s the payment% or one o the regular per!od!c paymentsB an annu!tant ma$es or an annu!ty. The #us!ness o Insurance essent!ally means de ray!ng r!s$s attached to any act!v!ty over t!me (!nclud!ng l! e) and shar!ng the r!s$s #etween var!ous ent!t!es% #oth persons and organ!=at!ons.
(! e Insurance !s un!versally ac$nowledged to #e an !nst!tut!on that el!m!nates Hr!s$H and prov!des the t!mely a!d to the am!ly !n the un ortunate event o death o the #readw!nner. (! e !nsurance !s a wr!tten contract #etween the !nsured and the !nsurer that prov!des or the payment o the !nsured sum on the date o the matur!ty o the contract or on the un ortunate death o the !nsured% wh!chever occurs earl!er. (! e Insurance !s a contract or payment o a sum o money to the person assured (or nom!nee) on the happen!ng o the event !nsured aga!nst. The contract prov!des or the payment o prem!um per!od!cally to the Insurance Company #y the assured. The contract prov!des or the payment o an amount on the date o matur!ty or at spec! !ed dates at per!od!c !ntervals or at un ortunate death% ! !t occurs earl!er.

A!%anta#es ? "ene)its o) Insuran3e Prote3tion(! e Insurance guarantees ull protect!on aga!nst r!s$ o death o the assured. In case o death% ull sum assured !s paya#le% whereas under other sav!ngs schemes the total accumulated sav!ngs alone w!ll #e ava!la#le. The later w!ll #e cons!dera#ly less then the sum assured% ! death occurs dur!ng early years. Lon# ter sa%in#(! e !nsurance encourages long term sav!ng. 8y pay!ng a small prem!um !n easy !nstallments or a long per!od a handsome sav!ng can #e ach!eved. Li*ui!it&(oan can #e o#ta!ned aga!nst a pol!cy assured whenever re9u!red.

Ta@ Re$ie),Ta& rel!e !n !ncome ta& and wealth ta& can #e ava!led on the prem!um pa!d or (! e Insurance. Income ta& #ene !t can #e ava!led to a ma&!mum l!m!t o <3.;45. Insuran3e en3oura#es an! )or3es t(ri)tA sav!ngs depos!t can #e too eas!ly w!thdrawn. 6any may not #e a#le to res!st the temptat!on o us!ng the #alance or some less worthy purpose. On the other hand% the payment o l! e !nsurance prem!ums #ecomes a ha#!t and comes to #e v!ewed w!th the same ser!ousness as the payment o !nterest on a mortgage% thus !nsurance !n e ect #r!ngs a#out compulsory sav!ngs. Eas& sett$e ent an! 6rote3tion a#ainst 3re!itor(! e Insurance can assure name o a person to whom the pol!cy moneys would #e paya#le !n the event o h!s death. The proceeds o a l! e !nsurance pol!cy% a marr!ed woman0s property act pol!cy const!tutes a trust !n avor o the w! e and )or ch!ldren and no separate ass!gnment !s necessary. The #ene !c!ar!es ate ully or!ented rom rad!ators e&cept to the e&tent ! any !nterest !n the pol!cy #y the assured.

A! inisterin# t(e $e#a3& )or bene)i3iaries> It o ten happens that a prov!s!on% wh!ch a hus#and or ather has made through !nsurance !s 9u!c$ly lost through speculat!ve or unw!se !nvestment or #y unnecessary e&pend!ture on lu&ur!es. These cont!ngenc!es can #e prov!ded aga!nst !n the case o !nsurance. The pol!cyholder can arrange rece!ve% !nterested o s!ngle sum or payment o the cla!m amount #y smaller monthly !nstallments over the selected per!od ollowed #y a lump sum at the end there o . Rea!& ar;etabi$it& an! suitab$& )or *ui3; borro'in#s> A ter an !n!t!al per!od% o the pol!cyholder !nds h!msel una#le to cont!nue payment o prem!ums he can surrender the pol!cy or cash the sum. Alternat!vely% he can t!e over a temporary d! !culty #y ta$!ng a loan on the sole secur!ty o the pol!cy w!thout delay. .urther% a l! e !nsurance pol!cy w!thout delay. .urther% a l! e !nsurance pol!cy !s somet!me accepta#le as secur!ty or a commerc!al loan.

Need for the Insurance>


The poss!#!l!ty o damage to assets caused #y any per!l !s the r!s$ that the asset !s e&posed to R!s$ means the poss!#!l!ty o loss or damage that may or may not happen. It !s #ecause o the uncerta!nty a#out the r!s$ that !nsurance #ecomes !mportant. No person should #e !n a pos!t!on to ma$e the r!s$ happen or occur and ta$e un a!r advantages. It covers the r!s$ o dy!ng too early and l!v!ng too long. Ind!v!dual h!msel also needs !nanc!al secur!ty or the old age or on h!s #ecom!ng permanently d!sa#led when h!s !ncome w!ll stop. It covers tang!#le assets #ut the concept can #e e&tended to !ntang!#les also. -uman l! e !s an !ncome generat!ng assets that can #e lost !n case o early death or d!sa#!l!ty caused #y an acc!dent.

CHAPTER- 1

R+,+ARC- D+,I2N
Introduct!on

A systemat!=ed study re9u!res proper plann!ng and !mplementat!on o the same. ,o% th!s research des!gn !ncludes an outl!ne o the study% wh!ch was conducted at AICICI PRUDENTIALB $i)e insuran3e, "an#a$ore, The des!gn o the study conta!ns !n ormat!on stat!ng the statement o the pro#lem% o#/ect!ves o the study% need or the study% and scope o the study% s!gn! !cance o the study% research methodology% and sources o data% tools and techn!9ues o data collect!on% plan o analys!s% l!m!tat!ons o the study and operat!onal de !n!t!ons o the concepts.

a, State ent o) t(e 6rob$e

It !s always very d! !cult to ma$e !nsurance !nvestment dec!s!ons !n th!s world o !nvestment alternat!ve compan!es. It demanded !nvestors to #e $nowledgea#le and tact ull regard!ng the !nsurance mar$et. ,!nce% many !nsurance !nvestments are !ntroduced w!th !n a very short span o t!meB people even hav!ng lot o money are con used to !nvest the!r hard earn!ng money !n e ect!ve manner. Th!s con us!on made researcher to choose th!s part!cular !eld study !n th!s regard an e ort !s made to put some l!ght on d! erent !nvestment compan!es or the sa$e o #r!n!ng down the con us!on level among the !nvestors. In order to recommend a su!ta#le !nvestment company to an !nvestor% one must #e aware o the needs o the customer and the !mportance o h!s attr!#utes% the current !nsurance s!tuat!on and ascerta!n!ng att!tude towards r!s$ !nvolved !n an !nvestment wh!le he ma$es h!s !nvestment dec!s!on. Ceep!ng !n v!ew the a#ove cond!t!on% a study t!tled1FA Co 6arati%e Stu!& on In%est S(ie$! Li)e o) ICICI Pru!entia$ 'it( ot(er Insuran3e Co 6aniesB, A descr!pt!ve study !s conducted !n ICICI PRUDENTIAL w!th OM 5OTA5> "IRLA SUNLIFE> and MET LIFE, To analy=e these var!ous !nvestment compan!es% a compar!son had made w!th l! e !nsurance.
#, ObCe3ti%e o) t(e stu!&

The specific objectives of the present study are as follows:


To study the structure o !nsurance company and !nsurance mar$et. To study the e&!st!ng #us!ness o !nsurance !ndustry. To study the !nvestors0 #ehav!or regard!ng !nsurance. To study the percept!on level o !nsurance compan!es towards customers. To study the w!de spectrum o !nsurance compan!es w!th a s!ngle !nvestment pol!c!es.

To evaluate the !nsurance mar$et under UnitD$in;e! P$an 'it( Ca6ita$ +uarantee,

c. S3o6e o) t(e stu!&

The scope o the study !s l!m!ted to the c!ty o 8angalore only. The compan!es% wh!ch !ssue l! e !nsurance% have #een cons!dered !n the study. The respondents have #een mostly employees rom ICICI PRUDENTIAL% OM 5OTA5% "IRLA SUNLIFE% and MET LIFE. The study !s ocused on analys!s o !nvestmentsB on a part!cular l! e !nsurance pol!cy called INVEST SHIELD LIFE 7UnitDLin;e! P$an 'it( Ca6ita$ +uarantee8 and !ts out puts !n var!ous !nvestment compan!es% wh!ch are ment!oned a#ove. A comparat!ve analys!s !s conducted #etween these compan!es on a s!ngle ' same pol!cy. The !nd!ngs w!ll reveal a#out Insurance !nvestments as a #etter opt!on !n a #etter company.
d. O6erationa$ !e)inition o) t(e 3on3e6ts

Pre iu - The ee pa!d #y the !nsured to the !nsurer or assum!ng the r!s$. Li)e insuran3e- Insurance that guarantees a spec! !c sum o money to a des!gnated #ene !c!ary upon the death o the !nsured or to the !nsured ! he or she l!ves #eyond a certa!n age.
Prote3tion- ,av!ngs through l! e !nsurance guarantee ull protect!on aga!nst r!s$ o death o the saver. In l! e !nsurance% on death% the ull sum assured !s paya#le (w!th #onuses wherever appl!ca#le).

Li*ui!it&- (oans can #e ra!sed on the sole secur!ty o a pol!cy wh!ch has ac9u!red loan value. 8es!des% a l! e !nsurance pol!cy !s also generally accepted as secur!ty or even a commerc!al loan.

Net Asset Va$ue 7NAV8Investments L Current Assets 1 Current l!a#!l!t!es and *rov!s!ons Num#er o un!ts outstand!ng !n the un!t und

e. Met(o!o$o#& o) resear3( I. Type o Research>

The research carr!ed out !n th!s study !s descr!pt!ve !n nature.


II. ,ample s!=e>

In add!t!on to ICICI *RUD+NTIA(% here other !nsurance compan!es have #een chosen or sampl!ng namely O6 COTAC% 8IR(A ,UN(I.+ and 6+T (I.+.
IN,URANC+ CO6*ANI+, *O(ICD NA6+

ICICI PRUDENTIAL OM 5OTA5 "IRLA SUNLIFE MET LIFE

Invest sh!eld l! e Cap!tal 6ult!pl!er .le&! save plus 6et smart

III. Tool or data collect!on>

The study was done #ased on the collect!on o *r!mary ' ,econdary data.

Pri ar& Data- *r!mary data was collected w!th the use o 9uest!onna!re and personal !nteract!on w!th the company employees. Se3on!ar& Data- ,econdary data was collected #y>
Re err!ng several #oo$s on !nsurance !ssues. Re err!ng d! erent #oo$s and prev!ous pro/ect reports !n a college l!#rary. Re err!ng rom act sheets% #rochures% /ournals% re erence #oo$s% etc.

Re err!ng some o the art!cles% reports and maga=!nes on !nsurance. "!s!t!ng l!#rar!es.
I". 6ethod o analys!s

An analyt!cal research was carr!ed out !rst to ga!n !ns!ght and proper understand!ng o the l! e !nsurance and !ts d! erent parameters connected to the un!t1l!n$ed plan. Th!s was done through 9uest!onna!re and personal !nteract!on w!th the employees o ICICI *RUD+NTIA( employees and the employees o the other !nsurance compan!es. Th!s was ollowed #y a comparat!ve study analys!s #etween the !nsurance compan!es. ,everal graphs and ta#les were prepared or a #etter anal!=at!on o serv!ce prov!ded #y them towards a s!ngle Un!t1l!n$ed plan.

Li itations O) T(e Stu!& ,tudy restr!cted to 8angalore c!ty only. ,ome o the ma/or po!nts o the l! e !nsurance pol!cy were not let out. .ree% cont!nuous and rel!a#le !n ormat!on wasn0t always ava!la#le.

,ome o the !n ormat!on was con !dent!al. Kh!ch do company ' !ts employees only use. ,o such !n ormat!on0s are not revealed outs!de or the general pu#l!c. The t!me span or the survey was short and hence only the ma/or aspects are cons!dered% not all the aspects were cons!dered. The !n ormat!on prov!ded #y the respondents !n terms o the!r !ncome level could not #e accurate as people are not very open when !t comes to !nanc!al matters. Ceep!ng !n m!nd the no. o pages% only our ma/or l! e !nsurance compan!es were ta$en under cons!derat!on or the comparat!ve study. (ac$ o !n ormat!on could #e also #e!ng m!slead!ng% thus lead!ng to an undes!ra#le !mpact as a result such !n ormat!on #ased on dec!s!on ma$!ng.

h. Chapter scheme
C(a6ter 9 4,

Introduct!on
C(a6ter 9 1, Research Des!gn. C(a6ter 9 2, Company *ro !le. C(a6ter 9 E, Analys!s and !nterpretat!on o data C(a6ter 9 / ,ummary o .!nd!ngs% Conclus!on and Recommendat!ons.

C-A*T+R> <

COMPANY PROFILE,
ICICI *rudent!al (! e Insurance Company !s a /o!nt venture #etween ICICI 8an$% a prem!er !nanc!al powerhouse% and prudent!al plc% a lead!ng !nternat!onal !nanc!al serv!ces group head9uartered !n the Un!ted C!ngdom. Incorporated on July :4% :444 !t !s a I@>:?% ICICI *rudent!al was amongst the !rst pr!vate sector !nsurance compan!es to #eg!n operat!ons !n Decem#er 3:% :444 a ter rece!v!ng approval rom Insurance Regulatory Development Author!ty (IRDA). ICICI *rudent!al e9u!ty #ase stands at Rs. 20. 0 billion w!th ICICI 8an$ and *rudent!al plc hold!ng I@5 and :?5 sta$e respect!vely. As on the date Jan :44I the company !ssued over !." million policies. The total company asset !s 3@444 crore. Today the company !s the M3 pr!vate l! e !nsurers !n the country. As on date the company !ncluded #$0 offices% 2"%000 advisors & 22 banc assurance partners.

Pru!entia$ 6$3
+sta#l!shed !n (ondon !n 3A@A% Pru!entia$ 6$3% through !ts #us!nesses !n the UC and +urope% the U, and As!a% prov!des reta!l !nanc!al serv!ces products and serv!ces to more than :4 m!ll!on customers% pol!cyholder and un!t holders worldw!de. As o Decem#er :44?% the company had over :;3 #!ll!on ounds !n unds under management. *rudent!al has #rought to mar$et an !ntegrated range o !nanc!al serv!ces products that now !ncludes l! e assurance% pens!ons% mutual unds% #an$!ng% !nvestment management and general !nsurance. In As!a% *rudent!al !s UCHs largest l! e !nsurance company w!th a vast networ$ o +, #ife and (utua# fund o)eration! in t e#-e countrie!$ Ch!na -ong$ong Ind!a

Indones!a Japan Corea 6alays!a The *h!l!pp!nes ,!ngapore Ta!wan Tha!land "!etnam

Pru!entia$ +rou6 O%er%ie'


.ounded !n 3A@A N the UC0s largest l! e !nsurer or over 3;4 years O:;3 #!ll!on unds under management. *rudent!al now has operat!ons !n 33 As!an countr!es *rudent!al !s the lead!ng l! e !nsurance player !n +urope. *rudent!al !s the astest grow!ng l! e !nsurance company !n As!a.

Vision
To ma$e ICICI *rudent!al the dom!nant (! e and *ens!ons player #u!lt on trust #y world1class people and serv!ce.

Thi! i! ai(ed to achie-e through:

Develop!ng and !mplement!ng super!or ris;

ana#e ent an! in%est ent

Understand!ng the nee!s o) 3usto ers and o er!ng them super!or products and serv!ce (everag!ng te3(no$o#& to serv!ce customers 9u!c$ly% pol!cyholders e !c!ently and conven!ently !ntroduc!ng strate#ies to o er susta!na#le and sta#le returns to our

*rov!d!ng an ena#l!ng env!ronment to oster growth and learn!ng or our e 6$o&ees And a#ove all% #u!ld!ng transparency !n all our deal!ngs. Ke do #el!eve that we are on the threshold o an e&c!t!ng new opportun!ty% where

we can play a s!gn! !cant role !n rede !n!ng and reshap!ng the sector. 2!ven the 9ual!ty o our parentage and the comm!tment o our team% there are no l!m!ts to our growth. The success o the company w!ll #e ounded !n !ts un l!nch!ng comm!tment to ; core values% namely> Integr!ty Customer !rst. 8oundary less Ownersh!p and *ass!on +ach o the values descr!#es what the company stands or% the 9ual!t!es o our people and the way we wor$. Ke #el!eve that we are on the threshold o an e&c!t!ng new opportun!ty% where we can play a s!gn! !cant role !n rede !n!ng and reshap!ng the sector. 2!ven the 9ual!ty o our parentage and the comm!tment o our team% there are no l!m!ts to our growth.

Va$ues
The success o the company w!ll #e ounded !n !ts un l!nch!ng comm!tment to ; core values 11 Integr!ty% Customer .!rst% 8oundary less% Ownersh!p and *ass!on.

MANA+EMENTThe ICICI *rudent!al (! e Insurance Company (!m!ted 8oard compr!ses reputed people rom the !nance !ndustry #oth rom Ind!a and a#road.

"oar! o) Dire3tors
Mr. !.@. !amath> Chairman Mr.<arrey #to,e. Mrs. !alpana Morparia Mrs.Chanda !ochhar. Mr. -T )hong. Mr.M.).Modi Mr.&."arayanan Mr. Mar %uc er Mrs. Lalita 2. ;upte Mr. 2anny <ardin Mr. M.). Modi

Mr.".#. annan> 6-ecutive 2irector. Mr.!e i 2adiseth Mr. & "arayanan Mr.<hargav 2asagupta> 6-ecutive 2irector. Ms. #hi ha #harma> Managing 2irector ? C6O.

Mana#e ent Tea


Ms. #hi ha #harma> Managing 2irector ? C6O. Ms. Anita )ai> Chief Customer service ? %echnology. Mr.".#. annan> 6-ecutive 2irector Mr.<hargav 2asagupta> 6-ecutive 2irector. Mr.A'im Mithani> Chief Actuary.

Mr.)uneet "anda >Chief Investment Officer Mr.<inaya 2atta> Chief: #?2

Distribution
ICICI *rudent!al has one o the largest d!str!#ut!on networ$s amongst pr!vate l! e !nsurers !n Ind!a% hav!ng commenced operat!ons !n ?: c!t!es and towns !n Ind!a. These are> Agra% Ahmeda#ad% A/mer% Allaha#ad% Amr!tsar% Auranga#ad% 8angalore% 8are!lly% 8hat!nda% 8hopal% 8hu#aneshwar% Chand!garh% Chenna!% Co!m#atore% Dehradun% 2oa% 2untur% 2urgaon% 2wal!or% -ydera#ad% -u#l!% Indore% Ja!pur% Jalandhar% Jamnagar% Jamshedpur% Jodhpur% Canpur% Carnal% Coch!% Col$ata% Colhapur% Cota% Cottayam% Co=h!$ode% (uc$now% (udh!ana% 6adura!% 6angalore% 6eerut% 6um#a!% Nagpur% Nas!$% No!da% New Delh!% *at!ala% *une% Ra!pur% Ra/$ot% Ranch!% Rour$ela% ,!l!gur!% ,urat% Thane% Thr!ssur% Tr!chy% Tr!vandrum% Uda!pur% "adodara% "ash!% "!/ayawada and "!=ag. The company has twelve #anc assurance t!e1ups% hav!ng agreements w!th ICICI 8an$% .ederal 8an$% ,outh Ind!an 8an$% 8an$ o Ind!a% (ord Cr!shna 8an$ and *un/a# ' 6aharastra Co1 operat!ve 8an$% ,hamrao "!thal Co1operat!ve 8an$ ' Jalgaon *eople0s Co1 operat!ve 8an$% 2oa state Co1operat!ve 8an$% Indoor *araspar ,aha$ar! 8an$% 6an!pal ,tate Co1operat!ve 8an$% as well as some co1operat!ve #an$s and corporate agents. It has also t!ed up w!th organ!=at!ons l!$e Dhan or d!str!#ut!on o ,alaam P!ndag!% a pol!cy or the soc!ally and econom!cally underpr!v!leged sect!ons o soc!ety. ICICI *rudent!al has recru!ted and tra!ned over 344%444 !nsurance agents to !nter ace w!th and adv!ce customers. .urther% !t leverages !ts state1o 1the1art IT !n rastructure to prov!de super!or 9ual!ty o serv!ce to customers.

Fa3t S(eet THE COMPANY

ICICI *rudent!al (! e Insurance Company !s a /o!nt venture #etween ICICI 8an$% a prem!er !nanc!al powerhouse% and prudent!al plc% a lead!ng !nternat!onal !nanc!al serv!ces group head9uartered !n the Un!ted C!ngdom. ICICI *rudent!al was amongst the !rst pr!vate sector !nsurance compan!es to #eg!n operat!ons !n Decem#er :444 a ter rece!v!ng approval rom Insurance Regulatory Development Author!ty (IRDA). ICICI *rudent!al0s e9u!ty #ase stands at Rs. :4.?4 #!ll!on w!th ICICI 8an$ and prudent!al plc hold!ng I@5 and :?5 sta$e respect!vely. .or the past our years% ICICI *rudent!al has reta!ned !ts pos!t!on as the No.3 pr!vate l! e !nsurer !n the country% w!th a w!de range o le&!#le products that meet the needs o the Ind!an customer at every step !n l! e. To $now more a#out the company% please v!s!t www.!c!c!prul! e.com.

6!lestones Crossed
Cap!tal !n us!on stands at Rs.20. 0 billion. Over !." million *ol!c!es !ssued s!nce !ncept!on The total asset !s !%000 crore. Recently they have !ntroduced two new unds namely F#e.i gro th / F#e.i *a#anced' Around @45 mar$et share #y prem!um among pr!vate players. .!rst *r!vate (! e Insurer to launch *ens!on plan w!th ,ec A4CCC Ta& #ene !t. They have launched one more #est health product named Ho!)ita# care

,trength !n Num#ers
34 regular prem!um products ? s!ngle prem!um products @ health products. @ Ret!rement plans @ r!ders 1 Ta& #ene !t (,ec A4D)

Over :<@444 adv!sors present !n ;A4 o !ces cover!ng all ma/or metros. Del!very through Alternate D!str!#ut!on channels l!$e 8ro$ers% Corporate Agents and *artner 8an$s as well.

Kell pos!t!oned to target the mass ' the mass a luent segments (argest 8ancassurance set up !n the country today w!th more than @444 pol!c!es !ssued per month .!rst (! e Insurer to operat!onally T!e1Up w!th a *u#l!c sector 8an$.

ICICI Prudentia# ha! ,01 of )ri-ate #ife in!urance (ar2et$


ICICI *rudent!al (! e Insurance has !ncreased !ts mar$et share among pr!vate l! e !nsurers to nearly @45% rom <<5 as o end1Decem#er. The companyHs !rst1year prem!um !ncome !n the Apr!l1January per!od stood at Rs @?@.? crore% account!ng or <7.<5 o the Rs 3%<?@ crore prem!ums #oo$ed #y all pr!vate l! e !nsurers together. Cons!der!ng the ent!re l! e mar$et% !nclud!ng the Rs 7%IA4 crore #oo$ed #y (! e Insurance Corporat!on% ICICI *rudent!al mar$et share wor$s out to around @.3I5. The l! e !nsurance mar$et cont!nues to #e dom!nated #y (IC% wh!ch has a#out AI.A5 share. Th!s !s only a marg!nal d!p rom !ts AA.:5 share !n end1Decem#er. These compar!sons are only or !rst year or new #us!ness prem!um. I renewal prem!um were to #e ta$en !nto account% (ICHs share would !ncrease urther to over 7?5. Recently 8a/a/ All!an= has made a cla!m where !t has sa!d that !t has #ecome the No .3 pr!vate l! e !nsurance. 8ut when we go on w!th ull deta!ls% ICICI *rudent!al !s st!ll the No 3 t!ll th!s date as !t has #een clearly #een stated !n the med!a and the company we#s!te. Accord!ng to #us!ness !gures #rought out #y the Insurance Regulatory and Development Author!ty (IRDA)% the !rst1year prem!um mo#!l!=ed #y ICICI *rudent!al (! e Insurance !n the !rst ten months amounted to Rs @?A.@. Th!s !s more than tw!ce the prem!um !ncome generated #y !ts closest r!val 8!rla ,un (! e that ra!sed Rs 37; crore dur!ng the same per!od. -D.C ,tandard (! e and Tata AI2 have reta!ned the!r th!rd and ourth pos!t!ons. Interest!ngly% there are three compan!es that are nec$1and1nec$ !n the #attle to #e among

the top !ve w!th a mar$et share o close to I5 1 All!an= 8a/a/% 6a& New Dor$ (! e and ,8I (! e Insurance. In the group !nsurance mar$et% (ICHs share !n the country !s around 7<5. Among the pr!vate compan!es% ,8I (! e% 8!rla ,un (! e and -D.C ,tandard (! e dom!nate the group !nsurance segment. ,8I (! e% w!th !ts group pol!c!es or mortgage loan protect!on and depos!tor !nsurance% has close to @;.A5 o the group mar$et among pr!vate compan!es. 8!rla ,un (! e has a :<.@5 share% ollowed #y -D.C ,tandard (! e wh!ch has an 3A.@5 share.

A3A&2#.

Awards
India's Most Customer Responsive Insurance Company Avaya Global Connect - Economic Times Customer Responsiveness Awards

Most Trusted Private Life Insurer The Economic Times - A C Nielsen Survey of Most Trusted rands ! "##$% "##& and "##'

Prudence Customer Centricity Award 2004 & 200 (rudential Corporation Asia

IMM Award for !"ce##ence )nstitute of Mar*etin+ , Mana+ement

$r%ani&ation wit' Innovative (R Practices )ndira Group of )nstitutes

)uper *rand 200+,04

$r%ani&ation wit' Innovative (R Practices Asia-(acific - R Con+ress Awards for -R E.cellence

)i#ver !ffie for !ffectiveness of t'e -Retire from .or/ not #ife0 advertisin% campai%n Effies "##$

Reco%nitions
IMM Award for !"ce##ence )nstitute of Mar*etin+ , Mana+ement

$r%ani&ation wit' Innovative (R Practices )ndira Group of )nstitutes

$r%ani&ation wit' Innovative (R Practices Asia-(acific - R Con+ress Awards for -R E.cellence

/nit 0alues of different (lan options as on #1-#'-"##2 P#an (rotector 3)ncome4 (lan5 alancer 3 alanced4 (lan5 Ma.i miser 3Growth4 (lan5 (ension Ma.i miser 3Growth4 (lan 8 (ension alancer 3 alanced4 (lan 8 1nit 2a#ue 3Rs45unit6 6'7#1&" "$72& &'722 &'79& ""7$6 6$7'&#2 6'7;; 6"7$21' 6"7$'&& "#7#2 6672;&$ "&726 6679$'; 6'7$$ 667"$&9

(ension (rotector 3)ncome4 (lan 8 Group alanced :und

Group <ebt :und Group Short Term debt fund Group Growth :und Group Capital Guarantee Short Term <ebt :und Ma.i miser 3Growth4 :und )) = (reserver 3Short Term4 :und 5 = alancer 3 alanced4 :und )) = (rotector 3)ncome4 :und )) =

(ension (reserver 3Short Term4 :und 8 > (ension Ma.i miser 3Growth4 :und )) > (ension (rotector 3)ncome4 :und )) > (ension alancer 3 alanced4 :und )) >

6671262 "'721 667"$'$ 6'72" 667"'#1 6$7&6 6$7&& 667; 667#$ 6#7;$9' 6#716"; 6#79"$ 667'' 6676; 6#7&9 6672;9' 66726 667&'9 6#7'" 6#7'' 6#7' 6#7'2 6#7' 6#7$" 6#7$1

)nvest Shield Cash 555 )nvest Shield ?ife 55 )nvest Shield (ension )C)C) (rudential ?ife Ma.i miser ))) == )C)C) (rudential ?ife alancer ))) ==

)C)C) (rudential ?ife (rotector ))) == )C)C) (rudential ?ife (reserver ))) == 5Group Capital Guarantee <ebt :und 5Group Capital Guarantee alanced :und

)nvest Shield ?ife New :und 88 Group Capital Guarantee Growth :und Cash (lus :und Secure (lus :und Secure (lus (ension :und :le.i Growth 5 :le.i Growth )) = :le.i Growth ))) == (ension :le.i Growth 8 (ension :le.i Growth )) > :le.i :le.i alanced 5 alanced )) =

:le.i

alanced ))) == alanced 8 alanced )) >

6#7"2 6#7&" 6#7$6

(ension :le.i (ension :le.i

TA"LE SHOWIN+ NO OF PRODUCTS AT +LANCE


Min Rati A#e at Pre i Su n# Entr& u Assure! Co%e r Matur Ceasi it& n# A#e A#e

Ri!ers A$$o'

'roduct

Ter

e!
Min Ma@ Sa%e :N: Prote3t Cas( "a3; S art 5i! S art 5i! ULIP 7RP8 S art 5i! ULIP 7SP8 Li)e#uar! SP Li)e#uar! ROP Li)e#uar! WROP Li)e Lin;D SP Li)e Ti e Fore%er Li)eD RP Li)e Ti e Pension Li)e Lin; Pension Se3ure P$us Pension Se3ure P$us Hea$t( Assure 6$us 3.; 3A ;; 3A44 3 la$h 34 la$h 34 <4 @A ?; ?; 3 3 3.; 3.; 3.; 3 3 3 4 3 3 3 4 3 3 4 3? :4 :4 :4 3A 3A 3A 4 4 :4 3A 3A 3A 4 ?4 ;; ?4 ?4 ;4 ;4 ;4 ;4 ?: ?4 ?4 ?4 ?: ?4 ?4 ?%444 ?%444 A%@44 3A%444 Min Ma@ Min Ma@ Min Ma@ Ma@ <4 3A 1 1 1 1 1 1 1 1 1 ;4 ;4 ;4 ;4 <4 1 I4 I4 I4 I4 ?4 ?; ?; ?; 1 1 I4 I4 I4 I; I; I4 I4 I4 I4 ?4 ?; ?; ?; I4 I4 I4 I4 I4 I; I; AD% A8% CI (A)% 6, AD% A8% CI (A)% 6, AD ) A8 ) I8R AD% I8R% KO* AD% I8R NA AD% A8 AD% A8 NA AD% CI (,)% 6, AD% A8% CI(,)%6, AD% CI(,)% 6, NA AD% A8% KO*% CI1,% 6, AD% A8% 6,% .I8% CI (A)% KO* N.A ;4%444 3 Crore 34

I;%444 3 Crore 3; ' :4 3 (ac <4 (acs 34 3%(ac <4 (acs 34 :; :; :; 3; :; :; 1 1 <4 ;: ;:

;4%444 :.; (ac ;4 (acs 34 1 :%@44 :%@44 :;%444 3A%444 ?%444 : (ac 34 (acs ; 3 (ac 3Crore ;

3 (ac 3 Crore ; 34;5 O ,A 3

3 (ac ;4 lac$s < No ;4%444 (!m!t ;

3%44%44 34%444 4 ;4 lac$s 34 :;%444 34;5 O ,A < 34 34

No 34%444 ;4%444 (!m!t ?%444 <4%444 1

Here in the a*o-e ta*#e !o(e )oint! are to *e re(e(*ered: 3) Non ,tandard age proo (N,A*) not accepta#le or Term% Un!t (!n$ and *ens!on *roducts. :) Un!t (!n$ed *lans% ,ecure *lus% Cash plus not allowed #eyond class ". <) (! e 2uard *roducts not allowed #eyond class I". @) .or Un!t (!n$ products the l! e cover e&!sts #etween I to I4 yrs.

Product! Launched 3" ICICI P%U&ENTIAL Life In!urance In 3rief


Insuran3e So$utions )or In!i%i!ua$s
ICICI *rudent!al (! e Insurance o ers a range o !nnovat!ve% customer1centr!c products that meet the needs o customers at every l! e stage. Its 37 products can #e enhanced w!th up to ? r!ders% to create a custom!=ed solut!on or each pol!cyholder.

In%est ents 6$ans

Li)eLin; II !s a un!9ue plan that com#!nes the secur!ty o a l! e !nsurance pol!cy w!th the opportun!ty o en/oy!ng h!gh returns on your !nvestments% w!thout the mar$et r!s$s comprom!s!ng on the protect!on o your am!lyQ

Deat( "ene)it- The ,um Assured under the product has : opt!ons% e!ther ;445 o the !n!t!al prem!um or 34;5 o the !n!t!al prem!um. In the event o an un ortunate death% the

#ene !c!ary w!ll rece!ve h!gher o the value o un!ts or the !n!t!al death #ene !t% less any w!thdrawals. Wit(!ra'a$ "ene)it- One can ma$e part!al w!thdrawals rom the accumulated value o the pol!cy a ter complet!on o one pol!cy year. F$e@ibi$it&- Choose rom our und opt!ons% #ased on your !nvestment o#/ect!ve and r!s$ appet!te. I at a later stage your !nanc!al pr!or!t!es change% you can sw!tch #etween the var!ous und opt!ons% a#solutely ree% @ t!mes a year.

Sa-ing! So#ution!

Are all !nvestments sh!eld plans%

th!s product range truly ma$es the un!t l!n$ed products !deal even or w!der range o aud!ence% w!th lower prem!um levels and the added secur!ty o a cap!tal guarantee. It !s a un!9ue range o product compr!s!ng o pens!on and sav!ng plans% and !s !deally su!ted or those en/oy le&!#!l!ty% transparency and% o course guarantees. A complete mar$et1l!n$ed !nsurance plan that adapts !tsel to your chang!ng protect!on and !nvestment needs% throughout a l! et!me.

A mar$et l!n$ed an !nsurance plan that meets your Investment and *rotect!on needs. Is a transparent and eature1pac$ed sav!ngs plan that o ers < levels o protect!on.

Is a transparent% eature1pac$ed sav!ngs plan that o ers < levels o protect!on as well as l!9u!d!ty opt!ons. Is a trad!t!onal endowment sav!ngs plan that o ers l! e protect!on along w!th ade9uate returns. Is an ant!c!pated endowment pol!cy !deal or meet!ng m!lestone e&penses l!$e a ch!ld0s marr!age% e&penses or a ch!ld0s h!gher educat!on or purchase o an asset.

Protection So#ution!

Li)e#uar! !s a protect!on plan% wh!ch o ers l! e covers at very low cost. It !s ava!la#le !n < opt!ons N (evel term assurance w!th level return o prem!um% (evel o assurance w!thout level return o prem!um along w!th two r!ders AD8R and KO* (evel term assurance 1 s!ngle prem!um.

C(i$! P$ans

The plans prov!de guaranteed educat!onal #ene !ts to a ch!ld along w!th l! e !nsurance cover or the parent who purchases the pol!cy. The pol!cy !s des!gned to prov!de money at !mportant m!lestones !n the ch!ld0s l! e. ,mart C!d plans are also ava!la#le !n un!t1l!n$ed orm 1 #oth s!ngle prem!um and regular prem!um. As a respons!#le parent% you w!ll always str!ve to ensure a hassle1 ree% success ul l! e or your ch!ld. -owever% l! e !s ull o uncerta!nt!es and even the #est1la!d plans can go wrong. -ere0s how you can g!ve your ch!ld a 3445 sa e and assured tomorrow% whatever the uncerta!nt!es. ,mart C!d !s espec!ally des!gned to prov!de le&!#!l!ty and sa eguard your ch!ld0s uture educat!on and l! estyle% ta$!ng all poss!#!l!t!es !nto account. Choose rom amongst a #as$et o : plans> ,mart C!d un!t1l!n$ed regular prem!um ,mart C!d regular prem!um

(ll these )#an! offer you: 4, Finan3ia$ "ene)its- Regular payments at cr!t!cal stages !n your ch!ld0s l! e% l!$e 8oard e&am!nat!ons% 2raduat!on and *ost1graduat!on.

1, Tota$ 6ea3e o) 2, Su

in!> e%en i) &ou are not aroun! e!iate$&- +nsures that your loved ones stay !nanc!ally

Assure! is 6ai! i

secure% even !n your a#sence. E. A$$ )uture 6re iu s are 'ai%e!- +nsur!ng that your am!ly !s not !nanc!ally #urdened !n your a#sence. that your ch!ld can real!=e h!s or her dreams w!thout any hassles. 0, De%e$o6 ent A$$o'an3e- ,mart C!d guarantees regular !ncome to secure your ch!ld0s educat!onal career and also ensures h!s or her all1round development% or a nom!nal add!t!onal amount. The Income 8ene !t R!der ta$es care o th!s through an annual payment o 345 o the sum assured% to your ch!ld% t!ll the matur!ty o the pol!cy% !n the un ortunate event o the death o the parent. All ,mart C!d plans can #e enhanced w!th the Acc!dent ' D!sa#!l!ty 8ene !t R!der and R!der. Dou can also an Acc!dent 8ene !t R!der to a ,mart C!d Regular *rem!um pol!cy% and a Ka!ver o *rem!um R!der (KO*) to ,mart C!d un!t1l!n$ed regular prem!um pol!cy. . /, Po$i3& bene)its 3ontinue- The educat!onal #ene !ts o the pol!cy cont!nue% ensur!ng

Mar;etD$in;e! So$utionsLi)e Lin; II !s a s!ngle prem!um 6ar$et (!n$ed Insurance *lan% wh!ch com#!nes l! e !nsurance cover w!th the opportun!ty to stay% !nvested !n the stoc$ mar$et. O ers customers the le&!#!l!ty and control to custom!=e the pol!cy to meet the chang!ng needs at d! erent l! e stages. It o ers @ und opt!ons 1 *reserver% *rotector% 8alancer and 6a&! m!ser.

!s a l!m!ted prem!um pay!ng plan that o ers customers l! e !nsurance cover t!ll the age o I;. Retire ent So$utions-

Is a ret!rement product targeted at !nd!v!duals !n there th!rt!es. Is a le&!#le pens!on plan that allows one to select #etween < levels o cover.

Mar;etD$in;e! retire ent 6ro!u3tsIs a regular prem!um mar$et1l!n$ed pens!on plan. Is a s!ngle prem!um mar$et1l!n$ed pens!on plan. ICICI *rudent!al also launched ::Sa$aa Fin!a#i::% a soc!al sector group !nsurance

pol!cy targeted at the econom!cally underpr!v!leged sect!ons o the soc!ety. +rou6 Insuran3e So$utions-

ICICI *rudent!al also o ers 2roup Insurance ,olut!ons or compan!es see$!ng to enhance #ene !ts to the!r employees. ICICI Pru +rou6 +ratuit& P$an- ICICI *ruHHs group gratu!ty plan helps employers und the!r statutory gratu!ty o#l!gat!on !n a sc!ent! !c manner. The plan can also #e custom!=ed to structure schemes that can prov!de #ene !ts #eyond the statutory o#l!gat!ons. ICICI Pru +rou6 Su6erannuatin# P$an- ICICI *ru o ers a le&!#le de !ned

contr!#ut!on1superannuat!ng scheme to prov!de a ret!rement $!tty or each mem#er o the group. +mployees have the opt!on o choos!ng rom var!ous annu!ty opt!ons or opt!ng or a part!al commutat!on o the annu!ty at the t!me o ret!rement. ICICI Pru +rou6 Ter P$an- ICICI *ruHHs le&!#le group term solut!on helps prov!de

a orda#le cover to mem#ers o a group. The cover could #e un! orm or #ased on des!gnat!on)ran$ or a mult!ple o salary. The #ene !t under the pol!cy !s pa!d to the #ene !c!ary nom!nated #y the mem#er on h!s)her death. Rura$ 6$ans ICICI *ru(! e0s Rural *roducts are des!gned to meet the needs o the rural consumers. These products o er the ollow!ng eatures> (ow and A orda#le *rem!ums (! e Cover ,av!ngs Opt!on -assle ree procedure

ICICI *rudent!al o ers : spec!ally des!gned rural plans

ICICI *ru 6!tra N +ndowment *lan

ICICI *ru 6!tra N +ndowment *lan

ICICI Pru Mitr offer! the fo##o ing feature!: (! e Cover and ,av!ngs Regular *rem!ums Age at entry> 3A 1 @; Drs ,um Assured> Rs.;% 444 1:4%444 *rem!um ) Dear> Rs. ;4I 1 ;;< (,A> Rs.34% 444) 6atur!ty)Death #ene !t> ,um Assured

ICICI Pru Sura;s(a D Re#u$ar Pre iu ICICI *ru ,ura$sha !s a regular prem!um pol!cy w!th the ollow!ng eatures> Ind!v!dual pol!cy Only (! e cover Term 1 < ' ; Drs Age !ndependent prem!um Age at entry> 3A 1 @; Drs ,um Assured> ,!ngle *rem!um ) Dear> Rs ;4 N :44 6atur!ty)Death #ene !t> Rs.;% 444 1 :4%444 Death 8ene !t> ,um Assured

<eing a,ay from India doesnAt mean you NRI 6$anshave to compromise the safety and security of your loved ones. In fact> your savings from your time overseas can be easily canali'ed to meet your familyAs needs : no, and in the future. #o> ,hether itBs your dream to retire in your hometo,nC to secure funds for your childrenAs educationC or to build assets> ICICI )rudential has a range of solutions that can be customi'ed to meet your needs.

7a8, Investment *lans 7b8, ,av!ngs *lans

738, Ret!rement *lans 7!8, Ch!ld *lans

5e& an insuran3e 6$ansA Ceyman !s an !nd!v!dual who d!rectly a ects the pro !ta#!l!ty and the cont!nu!ty o a #us!ness and whose a#sence may have an adverse e ect on the health and cont!nu!ty o the #us!ness. Ceyman !nsurance !s a l! e !nsurance pol!cy ta$en #y the company on the l! e o such a $ey person. The o#/ect!ve o the $eyman !nsurance !s to prov!de the company w!th money so that the !nanc!al losses to the company can #e protected% !n a#sence o the $eyman. The a!m !s to !ndemn! y the company o these losses and to allow #us!ness cont!nu!ty. All prem!ums pa!d or secur!ng a $eyman l! e !nsurance pol!cy are treated as #us!ness e&pend!ture u)s <I (3). (! eT!me II% ,ecure*lus% ,aveHnH*rotect% (! eguard and *rem!er (! e plans are ava!la#le or the purpose o $eyman !nsurance.

F#e.i*#e %ider O)tion!:


Ri!ers Criti3a$ I$$ness "ene)it Ri!er %his rider provides protection against 7 critical illnesses> namelyD Ma$or organ transplants> complete renal failure> #tro e> )aralysis> Heart attac > @alve replacement surgery> Ma$or surgery of the aorta> CA;# E<ypassF and Cancer.

8ene !ts pa!d on contract!ng the !llness


A33e$erate! bene)its 7a%ai$ab$e 'it( sa%e nG 6rote3t an! Cas( ba3;8- I the pol!cyholder !s d!agnosed w!th any o the spec! !ed !llnesses% then the pol!cyholder !s pa!d the ent!re sum assured under the r!der. The pol!cy along w!th all the r!ders (to the e&tent o the R!der ,um Assured) !s then term!nated. -owever% the rema!nder o the #ase pol!cy cont!nues t!ll the end o the term. The pol!cyholder w!ll have to cont!nue pay!ng h!s prem!ums or the rema!nder o the pol!cy. A33e$erate! bene)its 7a%ai$ab$e 'it( Se3ureP$us> Cas(P$us an! Se3ureP$us Pension8I the pol!cyholder !s d!agnosed w!th any o the spec! !ed !llnesses% then the pol!cyholder !s pa!d the ent!re sum assured under the r!der. The l! e cover along w!th all the r!ders !s then term!nated. -owever% the pol!cy value accumulat!on cont!nues t!ll the end o the term or death% wh!chever !s earl!er. Stan!a$one bene)its 7a%ai$ab$e 'it( Pre ier Li)e> Li)eTi e> Li)eTi e II> Fore%er Li)e> +rou6 Ter P$an> In%estS(ie$! Li)e> In%estS(ie$! Cas( an! In%estS(ie$! +o$!8 - I the pol!cyholder !s d!agnosed w!th any o the spec! !ed !llnesses% he)she !s pa!d the r!der ,um Assured and the r!der term!nates. -owever% the #ase pol!cy cont!nues t!ll matur!ty. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on A4D.

6a/or ,urg!cal Ass!stance R!der


Th!s r!der prov!des ass!stance to the pol!cyholder aga!nst @< surg!cal procedures. These surg!cal procedures are d!v!ded !nto < categor!es and the e&tent o ass!stance prov!ded depends on the type o procedure. 6a/or procedures N ;45 o the r!der sum assured !s pa!d. Intermed!ate procedures N <45 o the r!der sum assured !s pa!d 6!nor procedures N :45 o the r!der sum assured !s pa!d

Th!s #ene !t !s paya#le on more than one occas!on when the l! e assured undergoes surgery. -owever the total #ene !t paya#le !n case o all the procedures !s restr!cted to a ma&!mum o ;45 o the sum assured. 6a/or ,urg!cal Ass!stance r!der !s ava!la#le w!th ,ave n0 *rotect% Cash 8ac$% (! eT!me% (! et!me II% .orever (! e% ,ecure*lus% Cash*lus and ,ecure*lus *ens!on. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on1A4D. A33i!ent H Disabi$it& "ene)it Ri!er 7AD"R8)enefits payable on death due to an accident

I the pol!cyholder d!es due to an acc!dent% 3445 o the r!der sum assured !s pa!d !n add!t!on to the #as!c sum assured. In case the pol!cyholder d!es !n a land sur ace% mass pu#l!c transport system where!n the pol!cyholder was travel!ng as a are1pay!ng passenger% then :445 o the r!der sum assured !s pa!d.

3enefit! )a"a*#e in ca!e of )er(anent di!a*i#it" due to an accident I the pol!cyholder surv!ves an acc!dent #ut #ecomes permanently d!sa#led then the prem!um or the #as!c plan !s completely wa!ved o to the e&tent o the r!der sum assured. *lus% 345 o the r!der sum assured !s pa!d or the ne&t 34 years% wh!ch helps !n prov!d!ng that e&tra money and ta$es care o sudden !nanc!al set #ac$ that occurs a ter a trag!c d!sa#!l!ty. Acc!dent ' D!sa#!l!ty 8ene !t r!der !s ava!la#le w!th ,ave n0 *rotect% Cash 8ac$% ,mart C!d Ch!ld *lans% *rem!er (! e% (! eT!me% (! eT!me II% (! eT!me *ens!on II% .orever (! e% ,ecure*lus% Cash*lus% ,ecure*lus *ens!on% (! eguard RO*% (! eguard KRO*% 2roup Term *lan% Invest,h!eld (! e% Invest,h!eld Cash% Invest,h!eld 2old and Invest,h!eld *ens!on. In case o (! et!me II% (! et!me *ens!on II% ,ecure*lus% Cash*lus% (! eguard RO* and (! eguard KRO*% the wa!ver o prem!um #ene !t !s not ava!la#le. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on AA. A33i!ent "ene)it Ri!er 7A"R8I the pol!cyholder d!es due to an acc!dent% 3445 o the r!der sum assured !s pa!d !n add!t!on to the #as!c sum assured.

Acc!dent 8ene !t r!der !s ava!la#le w!th ,ave0n0*rotect% Cash 8ac$% ,mart C!d regular prem!um% .orever (! e% ,ecure*lus% Cash*lus and ,ecure*lus *ens!on. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on AA. Inco(e 3enefit %ider In case o death o the l! e assured dur!ng the term o the pol!cy% 345 o the r!der sum assured !s pa!d annually to the #ene !c!ary% on each pol!cy ann!versary t!ll matur!ty o the r!der. Income 8ene !t r!der !s ava!la#le w!th ,mart C!d Ch!ld *lans% ,ecure*lus and Cash*lus. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on1AAD Wai%er o) Pre iu Ri!er 7WOP8

On total and permanent d!sa#!l!ty due to an acc!dent% all uture prem!ums or #oth the #ase pol!cy and r!der(s) w!ll #e wa!ved t!ll the end o the term o the r!der or death o the l! e assured% ! earl!er. Ka!ver o *rem!um r!der !s ava!la#le w!th ,ecure*lus% Cash*lus% (! eguard RO*% (! eguard KRO*% ,mart C!d Un!t1l!n$ed regular prem!um II% (! et!me II% (! eT!me *ens!on II% ,ecure*lus *ens!on% Invest,h!eld (! e% Invest,h!eld Cash and Invest,h!eld *ens!on. *rem!ums pa!d under th!s r!der are el!g!#le or ta& #ene !ts under ,ect!on AA.

CHAPTER-E

ANALYSIS AND INTERPRETATION OF DATA,


*inimum and *a+imum (,e of Investor
Ta#le ?.3 Di))erent Co 6an& *inimum-*a+imum a,e
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art .D// 4=D0/ ,2.D0/ 4/DI.

Tab$e s(o'in# Mini u

an! Ma@i u

A#e o) In%estor

Chart sho/ing in0estment age


58 48 *8 18 08 /8 .8 +8 8

*1 11

*1

48

no of years

+5 8 Icici 8./ <irla

+1

om ota

Metlife

insurance companies Minimum age Ma-imum age

2raph ?.3

+ra6( s(o'in# Mini u

an! Ma@i u

A#e o)

In%estor

Ana$&sis

.rom the a#ove ta#le we can clearly $now the m!n!mum ' ma&!mum age o the !nvestor ' the compar!son o age groups #etween @ !nsurance compan!es. In ICICI !nsurance can #e started #y the #!rth o ch!ld% wh!le !n others !t var!ous rom days to years. In O6 COTAC !nsurance can #e started at 3A years. In 8IR(A ,UN (I.+ !nsurance can #e started at <4 days and !n 6+T (I.+ !t !s rom 3; years.

In)eren3e
.rom the a#ove graph !t shows clearly that ICICI g!ves more opportun!ty to the Investors as !t starts #y the #!rth o ch!ld.

*inimum and *a+imum term for Investment


Ta#le ?.: Di))erent Co 6an& *inimum-*a+imum term
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art Tab$e s(o'in# Mini u an! Ma@i u ter 4.D2. /D2. /D2. 4.D1. )or In%est ent

2raph ?.:

chart sho/ing the terms of in0esment


08 /8 .8 +8 8 No of years

/8 +8 Icici

/8 1 Om ota

/8 1 <irla .8 +8 Metlife

Insurance companies Minimum years


+ra6( s(o'in# Mini u an! Ma@i u

Ma-imum years
ter )or In%est ent

Ana$&sis8y the a#ove ta#le we $now that !n ICICI the m!n!mum term or !nvestment !s 34 to <4 years% !n O6 COTAC !t starts rom ; to <4 years. In 8IR(A ,UN (I.+ !t starts rom ; to <4 years and wh!le !n 6+T (I.+ !t stars rom 34 to <; years.

In erence>

.rom the a#ove graph !t shows that !n O6 COTAC and 8IR(A ,UN (I.+ the terms starts rom ; years% wh!ch !s more le&!#le or !nvestment compar!son w!th ICICI and 6+T (I.+% wh!ch starts rom 34 years.

.um assured by the insurance companies


Tab$e 0,2 Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

.um assured
O6tion to 3(oose a s6e3i)i3 $e%e$ o) su assure! as 6er &our nee!s> base! on a u$ti6$e o) &our annua$ 6re iu De6en!s on t(e a ount o) 6re iu 6ai!, Mini u - Rs /.>... )or inors an! Rs I/>... )or a!u$ts De6en!s on t(e o6tion ta;en

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e su


Analys!s>

assure! b& t(e insuran3e 3o 6anies

.rom the a#ove ta#le we can $now that !n 8IR(A ,UN(I.+ the m!n!mum sum assured or m!nors !s ;4%444 ' or adults !t !s I;%444. Kh!le !n other !nsurance compan!es l!$e ICICI the sum assured !s #ased on the annual prem!um. In O6 COTAC !t !s #ased on the amount o prem!um pa!d and wh!le !n 6+T(I.+ !t !s #ased on the opt!on too$ #y the !nvestor

In erence>
.rom the a#ove ta#le !t shows clearly 8IR(A ,UN(I.+ !s the most advantageous !n case o sum assurance wh!le compared to others.

The maturity benefit to investors


Ta#le ?.@ Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

*aturity benefit
Hi#(er o) t(e %a$ue o) t(e unit )un! o) t(e #uarantee! %a$ue o) t(e unit )un!, Va$ue o) a33u u$ation a33ount or t(e SA '(i3(e%er is (i#(er> as a $u 6 su or as s&ste ati3 'it(!ra'a$ Po$i3& )un! Po$i3& )un!

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e


Analys!s>

aturit& bene)it to in%estors

.rom the a#ove ta#le we can $now that the matur!ty #ene !t !n ICICI !s #ased on the guaranteed value o un!t und. In O6COTAC the matur!ty depends on the value o accumulat!on account. In 8IR(A ,UN(I.+ ' 6+T (I.+ the matur!ty !s purely #ased on the pol!cy und.

In erence>

.rom the a#ove ta#le !t shows clearly that matur!ty #ene !t !s worthwh!le !n ICICI when compared to other !nsurance compan!es.

The /eath benefit to investors


Ta#le ?.; Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

/eath benefit
Su assure! J Hi#(er o) t(e %a$ue o) t(e unit )un! or #uarantee! %a$ue o) t(e unit )un!, 7Su Assure!D 6re iu s !ue but not 6ai!8 o) %a$ue o) a33u u$ation a33ount '(i3(e%er is (i#(er, Fa3e a ount J 6o$i3& )un! 7'(ere t(e 6o$i3& is bou#(t on or 6rior to t(e 4st birt(!a& o) t(e $i)e insure!> on$& 6o$i3& )un! is 6a&ab$e to t(e 6o$i3& o'ner in t(e e%ent o) !eat( o) t(e $i)e insure! 'it(in t(e )irst 6o$i3& &ear8 U6 to a#e o) 4..

"ir$aSun$i)eDF$e@i sa%e P$us

MetLi)eDMet s art

Tab$e s(o'in# t(e Deat( bene)it to in%estors


Analys!s>
.rom the a#ove ta#le the death #ene !t !n 6+T (I.+ !s up to 77 years wh!ch !s e&tremely #ene !c!al when compared to ICICI where the death #ene !t !s sum assured L un!t und. In O6 COTAC !t !s sum assured N prem!um due. And !n 8IR(A ,UN(I.+ !t !s ace amount L pol!cy und.

In erence>
.rom the a#ove ta#le !t shows clearly that the death #ene !t !n 6+T (I.+ !s much more #ene !c!al than other !nsurance compan!es.

The 0ithdrawal benefit to investors


Ta#le ?.? Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us

4ithdra a# *enefit

None
Partia$ or 3o 6$ete 'it(!ra'a$s are a%ai$ab$e )ro t(e 2r! &ear on'ar!s Partia$ or 3o 6$ete 'it(!ra'a$s are a%ai$ab$e )ro t(e 2r! &ear on'ar!s, In a &ear 1 'it( !ra'$s are )ree o) 3(ar#e, For e%er& a!!itiona$ 'it(!ra'a$ a 3(ar#e o) Rs 4.. 'i$$ be $e%ie!, An& ti e a)ter one &ear> )irst t'o 6artia$ 'it(!ra'a$s are )ree, T(e 3o 6an& 'i$$ 3(ar#e Rs 1/. or 1K o) a t 'it(!ra'n,

MetLi)eDMet s art

Ta#le show!ng the K!thdrawal #ene !t to !nvestors Analys!s>


.rom the a#ove ta#le !t !s clear that the w!thdrawal #ene !t !n ICICI !s non. In O6 COTAC !t !s part!al or complete w!thdrawal a ter < rd year !n 8IR(A ,UN(I.+ the w!thdrawal #ene !t !s ava!la#le a ter <rd year and !n a year two w!thdrawals are ree o charges. Kh!le !n 6+T (I.+ !s a ter 3 year ' !rst two part!al w!thdrawals are ree.

In erence>
.rom the a#ove ta#le !t shows clearly that the w!thdrawal #ene !ts are advantageous !n 8IR(A ,UN(I.+ ' 6+T (I.+ wh!le compared to ICICI ' O6 COTAC

The 1ontribution by investors


Ta#le ?.I Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

1ontribution
Mini u - Rs, =>... 6,a, Mini u - Rs, 4.>... 6,a, SubCe3t to a ini u )a3e a ount o) Rs /.>... )or inors an! Rs I/>... )or a!u$ts Mini u - Rs 1.><I. 6,a

Ta#le show!ng the Contr!#ut!on #y !nvestors 2raph ?.<


Contribution

.8748

5888 +8888

ICICI OM !O%A! <irla #unLife MetLife

18888

2raph show!ng the Contr!#ut!on #y !nvestors

Analys!s>
.rom the a#ove ta#le we can $now that m!n!mum contr!#ut!on to #e pa!d !n ICICI !s Rs. A444. In O6 COTAC Rs 34444% !n 8IR(A ,UN(I.+ Rs ;4444 or m!nors and I;444 or ma/ors. In 6+TA(I.+ !t !s :47I4 p.a.

In erence>
.rom the a#ove graph% !t shows clearly that the contr!#ut!on !n ICICI w!ll #e most #ene !c!ar!es to the !nvestors compared to other !nsurance compan!es.

The 2+tended life covera,e to investors


Ta#le ?.A Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

2+tended life covera,e


Pro%i!e! t(e 6o$i3& is in )or3e ti$$ aturit&> a!!itiona$ 3o%era#e )or /.K o) t(e su assure! 'i$$ be a%ai$ab$e )or t(e ne@t 4. &ears, Not a%ai$ab$e Not a%ai$ab$e Pro%i!e! t(e 6o$i3& is in )or3e ti$$ aturit&, A!!itiona$ 3o%era#e ti$$ <<&ears o) t(e 6o$i3&(o$!er,

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e e@ten!e! $i)e 3o%era#e to in%estors


Analys!s>
.rom the a#ove ta#le we can $now that the e&tended l! e coverage o prov!ded !n ICICI% wh!ch !s when the pol!cy !s% matured the add!t!onal coverage or ;45 o sum or the ne&t 34 years. In 6+T(I.+ ! the pol!cy !s orced to matur!ty the add!t!onal coverage !s prov!ded t!ll 77 years o !nvestors. In O6 COTAC and 8IR(A ,UN(I.+ there are no such prov!s!ons.

In erence>
.rom the a#ove ta#le% the e&tended l! e coverage !n 6et(! e !s most #ene !c!al compared to ICICI.

3le+ibility to increase or decrease the contribution by investors


Ta#le ?.7 Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e,

Increase 4 decrease contribution


T(e a@i u !e3rease in t(e 6re iu s 3an be u6 to 1.K o) t(e initia$ 6re iu 3(osen b& t(e 6o$i3&(o$!er at t(e ti e o) in3e6tion o) t(e 6o$i3&, Ho'e%er> in no 3ir3u stan3es 3an t(e 6re iu be re!u3e! to be$o' Rs, =>... or =.K o) t(e initia$ 3(osen 6re iu > '(i3(e%er is (i#(er, Ho'e%er> t(ere is no 3a6 on in3reasin# t(e 6re iu , T(e 6re iu s 3an be in3rease! 'it( or 'it(out t(e in3rease in su assure!,

5ota;D Ca6ita$

u$ti6$ier

Not a%ai$ab$e
Not a%ai$ab$e Not $i ite!

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e F$e@ibi$it& to in3rease or !e3rease t(e 3ontribution b& in%estors
Analys!s>
.rom the a#ove ta#le% the le&!#!l!ty to !ncrease or decrease the !nvestor0s contr!#ut!on% !n 6+T(I.+ !s restr!cted wh!le !n ICICI !t can #e decreased to :45 or up to A45 and !ncreased !n prem!um !s not an !ssue. O6 COTAC and 8IR(A ,UN(I.+ do not prov!de such ac!l!t!es.

In erence>
.rom the a#ove ta#le% !t shows clearly that the le&!#!l!t!es to !ncrease or decrease the !nvestors0 contr!#ut!on are outstand!ng !n 6+T(I.+% wh!le compared to ICICI.

The Investment options to investors


Ta#le ?.34 Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

Investment options
A sin#$e unit )un! 'it( an asset a$$o3ation o) ini u I.K in !ebt an! a a@i u 2.K in e*uit&, No o6tion to 3(oose &our in%est ent, T(e 6re iu a)ter t(e !e!u3tions is Cust )unne$e! into a a33u u$ation a33ount '(i3( is in%este! as 6er t(e ris; a66etite an! obCe3ti%es o) t(e 3o 6an& Prote3tor> "ui$!er H En(an3er More t(an 0 o6tions to in%est

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e In%est ent o6tions to in%estors +ra6( 0,E

Investment options

/ *

ICICI OM !O%A! <I&LA #G"LIF6 M6%LIF6

+ra6( s(o'in# t(e In%est ent o6tions to in%estors

Analys!s>
.rom the a#ove ta#le% we can $now that the !nvestment opt!ons !n ICICI *rudent!al are s!ngle un!t und. In O6 COTAC% no opt!on to choose. In 8IR(A ,UN(I.+ < opt!ons are ava!la#le. Kh!le !n 6+T(I.+% more opt!ons are ava!la#le as much as ?.

In erence>
.rom the a#ove graph% we can $now that the !nvestment opt!on !n 6+T(I.+ !s #etter w!le compared to other !nsurance compan!es.

The .urrender value


Tab$e 0,44 Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e,

Surren!er %a$ue
T(e surren!er %a$ue o) t(e 6o$i3& is a%ai$ab$e a)ter t(e 4 st &ear an! 'ou$! !i))er )ro &ear to &ear, T(e surren!er %a$ue is 6ai! out as a Kta#e o) t(e %a$ue o) t(e unit )un!, More t(an 4 &ear- 4.K, A)ter 1 &ears 1.K, A)ter 2 &ears 2.K, A)ter E &ears E.K, A)ter / &ears /.K, A)ter 0 &ears 0.K, A)ter I &ears I.K, A)ter = &ears =.K, A)ter < &ears <.K, A)ter 4. &ears an! ore </K, Va$ue o) units a)ter t(e 2r! &ear T(e surren!er 3(ar#es 'i$$ be 4..K o) t(e annua$iLe! 6re iu )or t(e )irst 1E ont(s o) t(e 6o$i3&, It 'i$$ be 1EK in ont( 1/ an! 'i$$ re!u3e b& 4K e%er& ont( t(erea)ter an! 'i$$ be Lero )ro t(e E<t( ont( on'ar!s "ase! on Kta#e o) 6re iu More t(an 4 &ear- .K, A)ter 1 &ears .K,

O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eD F$e@i sa%e P$us MetLi)eDMet s art

A)ter 2 &ears 1.K, A)ter E &ears 2.K, A)ter / &ears E.K, A)ter 0 &ears /.K, A)ter I &ears 0.K, A)ter = &ears I.K, A)ter < &ears =.K, A)ter 4. &ears <.K, A)ter 44 &ears H t(ere a)ter </K

Tab$e s(o'in# t(e Surren!er %a$ue

+ra6( 0,/
#G&&6"26& @ALG6

+ /

/ .

ICICI OM !O%A! <I&LA #G"LIF6 M6% LIF6

+ra6( s(o'in# t(e Surren!er %a$ue


Analys!s>
.rom the a#ove ta#le% we can $now that the surrender value !n ICICI starts rom 3st year. In O6 COTAC !t starts rom <rd year. In 8IR(A ,UN(I.+ !t starts rom : nd year wh!le !n 6+T(I.+ !t starts rom <rd year.

In erence>

.rom the a#ove graph% we can $now that the surrender value !n ICICI starts a ter 3st year !s 345% wh!ch !s comparat!vely #etter than other !nsurance compan!es.

(utomatic 'remium payment to investors


Ta#le ?.3: Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

(utomatic 'remium payment


I) t(e ter i) t(e 6o$i3& is $ess t(an 4/ &ears> t(en t(is )a3i$it& 3an be a%ai$e! on3e an! t'i3e i) t(e ter is #reater t(an or e*ua$ to 4/ &ears, Not a%ai$ab$e Not a%ai$ab$e Initia$ 2 &ears as 6er s3(e!u$e s(ou$! be 6ai! H t(en u 3an a%ai$ t(is o6tion

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e Auto ati3 Pre iu


Analys!s>

6a& ent to in%estors

.rom the a#ove ta#le% we can $now the automat!c prem!um payment !n ICICI !s less than 3; years pol!cy and ac!l!ty can #e ava!la#le 3 and tw!ce. Kh!le !n 6+T(I.+ !n!t!al < years o prem!um should #e pa!d and then !nvestors have the ac!l!ty o not pay!ng or nom!nal o : to < years. In O6 COTAC and 8IR(A ,UN(I.+ there !s no such ac!l!ty prov!ded.
In erence>
.rom the a#ove ta#le% the automat!c prem!um payment !n 6+T(I.+ !s #ene !c!ary to the !nvestors compared to ICICI% #ecause !nvestor has the opt!on o stopp!ng the prem!um or a certa!n per!od o t!me.

Increase 4 decrease of death benefit to investors


Ta#le ?.3< Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us

Increase 4 decrease of death benefit


Not a%ai$ab$e Not a%ai$ab$e Can be !one on3e in e%er& / &ears, T(e ini u a ount o) 3(ar#e 'i$$ be Rs, /.>..., T(is 3(ar#es 'i$$ resu$t in a 3(an#e in t(e 6re iu s to be 6ai! an! 'i$$ be subCe3te! to t(e 6er issib$e $i its o) ini u s )a3e a ount A)ter t(e )irst t(ree 6o$i3& &ears> (a%e a bene)it )or on3e a &ear,

MetLi)eDMet s art

Tab$e s(o'in# t(e In3rease ? !e3rease o) !eat( bene)it to in%estors

Analys!s>

.rom the a#ove ta#le% we can $now that the death #ene !t can #e ta$en once !n ; year !n 8IR(A ,UN(I.+ and !n 6+T(I.+ the death #ene !t prov!s!ons can #e ta$en a ter < years% wh!le !n ICICI and O6 COTAC th!s prov!s!on !s not ava!la#le.
In erence>
.rom the a#ove ta#le% we can $now that the death #ene !t !n 6+T(I.+ !s super!or to 8IR(A ,UN(I.+ as !t can #e ta$en a ter < years and can have a #ene !t to change once a year.

(dditional credits to investors


Ta#le ?.3@

Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e,

(dditional credits
En! o) t(e /t( 6o$i3& &ear- 4.K o) t(e initia$ annua$ 6re iu , En! o) t(e 4.t( 6o$i3& &ear- 4/K o) t(e initia$ annua$ 6re iu , En! o) t(e 4/t( 6o$i3& &ear- 1.K o) t(e initia$ annua$ 6re iu En! o) t(e 1.t( 6o$i3& &ear- 1/K o) t(e initia$ annua$ 6re iu , En! o) t(e 1/t( 6o$i3& &ear- 2.K o) t(e initia$ annua$ 6re iu , En! o) t(e 2.t( 6o$i3& &ear- 2/K o) t(e initia$ annua$ 6re iu ,

5ota;D Ca6ita$

u$ti6$ier

Not a%ai$ab$e
Not a%ai$ab$e Not a%ai$ab$e

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Tab$e s(o'in# t(e A!!itiona$ 3re!its to in%estors +ra6( 0,0


1 1 0 / . + 8 ICICI 8 OM !O%A! 8 <I&LA #G"LIF6 8 M6%LIF6

Companies additonal credits

2raph show!ng the Add!t!onal cred!ts to !nvestors Analys!s>


.rom the a#ove ta#le% we can $now that% the add!t!onal cred!t g!ven #y the ICICI starts rom ;th year and ends at <4th year wh!le !n other compan!es such ac!l!t!es are not prov!ded.

In erence>

.rom the a#ove graph% we can $now that add!t!onal cred!ts are only g!ven !n ICICI #ut not !n other !nsurance compan!es.

3le+ibility of Top-up to investors


Ta#le ?.3; Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art A%ai$ab$e> 'it( a

Top-up
ini u to6Du6 o) Rs, />...

A%ai$ab$e
Du 6 in 6re iu Not a%ai$ab$e are a%ai$ab$e u6 to 1/>...

Tab$e s(o'in# t(e )$e@ibi$it& o) To6Du6 to in%estors

Analys!s>

.rom the a#ove ta#le% we can $now that the top1up ac!l!ty !n ICICI !s up to Rs. ;444. In O6 COTAC !t !s ava!la#le (#ut not d!sclosed). And !n 6+T(I.+ !t !s up to Rs. :;444. .!nally !n 8IR(A ,UN(I.+ the top1up ac!l!ty !s not ava!la#le.
In erence>
.rom the a#ove ta#le we can clearly descr!#es that the top1up ac!l!ty !n 6+T(I.+ !s #etter compared to ICICI and O6 COTAC.

3le+ibility of .witch to investors


Ta#le ?.3? Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

.witch

Not a66$i3ab$e
Not a66$i3ab$e 4 )ree s'it3( 6er &ear, For e%er& a!!itiona$ s'it3(> a 3(ar#e o) Rs, 4..'i$$ is $e%ie!, 4st s'it3( o) t(e 6o$i3& )ree, An& ti e a)ter t(e )irst t(ree ont(s )or ea3( s'it3(, Co 6an& 3(ar#es E..?D or .,./K o) t(e ant on s'it3(e!,

Tab$e s(o'in# t(e )$e@ibi$it& o) S'it3( to in%estors

Analys!s>

.rom the a#ove ta#le% !t0s clear that !n 8IR(A ,UN(I.+ one ree sw!tch per year can #e made and or every add!t!onal sw!tch

they charged Rs. 344% wh!le !n 6+T(I.+ ree sw!tch can #e made a ter < months o the pol!cy and the !rst sw!tch o the pol!cy !s ree. A ter that every sw!tch costs Rs. @44 o the amount sw!tched. In ICICI and O6 COTAC there !s no such sw!tch!ng ac!l!ty ava!la#le.
In erence>
.rom the a#ove ta#le% we can $now that the sw!tch ac!l!ty !n 6+T(I.+ !s good when compared to 8IR(A ,UN(I.+.

Initial char,e to the investors


Ta#le ?.3I Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e,
st

Initial char,e
M4/>...D4 &earN I.KN 1n! &earN <.KN 2r! &ear on'ar!s <IK 4/>...D1E><<<D 4st &earN I1KN 1n! &earN <1KN 2r! &ear on 'ar!s <IK 1/>...DE<><<<D4st &earN I/KN 1n! &earN <1KN 2r! &ear on 'ar!s- <IK OP /.>...D4st &earN IIKN 1n! &ear <1KN 2r! &ear on 'or!s <IK

5ota;D Ca6ita$

u$ti6$ier

Not !is3$ose!
/ or #reater ter - 4st &earD 1<,<KN 1n! &ear on'ar!sN /K 4. or #reater ter N 4st &ear 9/E,0KN 1n! an! 2r! &earN I,/KN Et( &ear on 'ar!s- /K 4/ or #reater ter N 4st &ear 90/KN 1n! an! 2r! &earN I,/KN Et( &ear on 'ar!s- /K Year 4 76er ont(8 91.. Year 1 on 'ar!s 76er ont(8 D I/

"ir$aSun$i)eDF$e@i sa%e P$us

MetLi)eDMet s art

Tab$e s(o'in# t(e Initia$ 3(ar#e to t(e in%estors

Analys!s>

.rom the a#ove ta#le% we can $now that !n ICICI the !n!t!al charges vary accord!ng to the prem!um pa!d. In O6 COTAC !t !s not descr!#ed. In 8IR(A ,UN(I.+ !t !s :7.75 or the !rst year and !n 6+T(I.+ !rst year N:44(per month) and second N I; (per month).
In erence>
.rom the a#ove ta#le% !t !s clear that the !n!t!al charges var!es rom company to company depend!ng upon the!r prem!um pa!d.

.howin, (dmin char,e to the investors


Ta#le ?.3A Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

(dmin char,e
A! in 3(ar#e o) Rs /.? ont(

Not !is3$ose!
Po$i3& a! in )eesP Rs, 11 6er ont(, "ase 6re iu I,.K J !u 6 in 6re iu 2,/K

Tab$e s(o'in# t(e A! in 3(ar#e to t(e in%estors


Analys!s>
.rom the a#ove ta#le% we can $now that the adm!n charges% !n ICICI are Rs. ;4 per month. In O6 COTAC not d!sclosed. In 8IR(A ,UN(I.+ Rs. :: per month. In 6+T(I.+ #ase prem!um I5 L dump !n prem!um <.;5.

In erence>
.rom the a#ove ta#le% we can $now that the adm!n charge var!es orm company to company accord!ng to the!r !nternal rules.

Fund (anage(ent charge to the in-e!tor!


Ta#le ?.37 Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier

3und mana,ement char,e


Re#u$ar ana#e ent 3(ar#e o) 4,1/K 6,a, on t(e )un! %a$ue Not !is3$ose! In%est ent # t )ee P 4K 6,a, Ma@i u o) 1,/K 6,a

"ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Ta#le show!ng the .und management charge to the !nvestors

2." 2 1." 1 1." 1 ministration Charges p.a

ICICI2In0est shield life (m 3ota42 Capital multiplier &irla#unlife2$le5i sa0e Plus 6et'ife26et smart

.or O6 Cota$ the general v!ew #ased on other Insurance compan!es !s ta$en to calculate the annual adm!n!strat!on charges.

Analys!s>
.rom the a#ove ta#le% we can $now that the und management charges !n ICICI are 3.:;5 p.a. In O6 COTAC not ment!oned. In 8IR(A ,UN(I.+ !t !s 35 p.a. And !n 6+T(I.+ !t !s ma&!mum o :.;5 p.a.

In erence>
.rom the a#ove ta#le% we can clearly $now that the und management charge !s ma&!mum !n 6+T(I.+ wh!le compared to ICICI and 8IR(A ,UN(I.+.

%ider5! *enefit to the in-e!tor!


Ta#le ?.:4

Di))erent Co 6an&
ICICIDIn%est s(ie$! $i)e, O 5ota;D Ca6ita$ u$ti6$ier "ir$aSun$i)eDF$e@i sa%e P$us MetLi)eDMet s art

Riders
AD"R> WOPRH CI"R Ter Ri!er ? CI ? AD"R AD"R> CI"R> Ter Not a%ai$ab$e

Ta#le show!ng the R!ders #ene !t to the !nvestors

Analys!s>
.rom the a#ove ta#le% we can $now that the r!ders prov!ded #y ICICI are <. In O6 COTAC also < and 8IR(A ,UN(I.+ aga!n < and !n 6+T(I.+ !s has not #een d!sclosed.

In erence>
.rom the a#ove ta#le% we can $now that there are d! erent r!ders !n d! erent !nsurance compan!es accord!ng to ava!la#!l!ty.

F%OM ALL THE A3O6E &ATA / INTE%P%ETATION A SUMMA%I7E& TA3LE IS AS 3ELO4


The #est !nsurance company !n the un!t1l!n$ed plan Ta#le ?.:3
FEATU%ES 8 INSU%ANCE COMPANIES

ICICI P%U&ENTIAL 9IN6EST

OM :OTA: 9Ca)ita#

3I%LA SUNLIFE 9F#e.i Sa-e

MET LIFE 9Met

SHIEL& LIFE; AGE TE%M SUM$ASSU%E& MATU%ITY 3ENEFIT &EATH 3ENEFIT 4ITH&%A4AL 3ENEFIT CONT%I3UTION E<TEN&E& LIFE CO6E%AGE INC%EASE 8 &EC%EASE YOU% CONT%I3UTION IN6ESTMENT OPTIONS SU%%EN&E% 6ALUE AUTOMATIC P%EMIUM PAYMENT INC%EASE 8 &EC%EASE OF &EATH 3ENEFIT A&&ITIONAL C%E&ITS TOP$UP S4ITCH INITIAL CHA%GE A&MIN CHA%GE FUN& MANAGEMENT CHA%GE %I&E%S

Mu#ti)#ier;

P#u!;

S(art;

3 4 4 3 4 4 3 4 4 3 3 4 4 3 4 4 3 3 4 3

4 3 4 4 4 4 4 4 4 4 4 4 4 4 4 4 3 3 4 3

4 3 3 4 4 3 4 4 4 4 4 4 4 4 4 4 3 3 3 3

4 4 4 4 4 3 4 3 3 3 4 3 3 4 3 4 3 4 4 4

Tota#

A
+ra6( 0,I

34

Tab$e s(o'in# t(e best insuran3e 3o 6an& in t(e unitD$in;e! 6$an

+8 5 * Points )ained 0 . 8 icici birla sunlife Insurance Companies om ota 5 4 0

+8

#+ met life

#eries+ +ra6( s(o'in# t(e best insuran3e 3o 6an& in t(e unitD$in;e! 6$an

Conclus!on or the a#ove graph cons!der!ng the summar!=ed ta#le Out o :4 eatures ta$en or compar!sonB
ICICI has ga!ned = po!nts% O6 COTAC has ga!ned E po!nts% 8IR(A ,UN(I.+ has ga!ned I po!nts ' 6+T (I.+ has ga!ned 4. po!nts. 1onsiderin, the above points ,ained by this insurance companies it has been ran5ed as under6

Ran;s
4 1 2 E

Insuran3e 3o 6anies 'it( na e o) t(e 6o$i3&


ICICI *RUD+NTIA( N Invest ,h!eld (! e 6+T (I.+ N 6et ,mart 8IR(A ,UN(I.+ N .le&! ,ave *lus O6 COTAC N Cap!tal 6ult!pl!er

C-A*T+R> ;

SUMMARY OF FINDIN+S> CONCLUSION AND RECOMMENDATIONS

FINDIN+S ICICI g!ves more opportun!ty to the !nvestors !n Age actor as !t starts rom the #!rth o the ch!ld.

The Term or !nvestment !n 6+T (I.+ starts rom 341:4% wh!ch !s not as le&!#le as other !nsurance compan!es.
The ,um assured !n 8IR(A ,UN(I.+ s o m!n!mum1;4% 444 or m!nors ' I;%444 or ma/ors wh!ch !s much more h!gher than others. In ICICI the 6atur!ty #ene !t !s advantageous when compared to O6 COTAC% 8IR(A ,UN(I.+ ' 6+T (I.+. The Death #ene !t !n 6+T (I.+ s #ene !c!al as !t covers up to the age o 344. In ICICI there !s no w!thdrawal #ene !t when compared to others. The Contr!#ut!on !n ICICI !s Rs A444 p.a.% wh!ch !s a orda#le #y all type o !nsurance !nvestors. In 6+T (I.+ the +&tended l! e coverage ac!l!ty !s most #ene !c!al as !t covers t!ll the age o 77. The le&!#!l!ty to Increase ) Decrease the Investors contr!#ut!on !s outstand!ng !n 6+T (I.+. Investors have a #est opt!on to !nvest as much as s!& (opt!ons) !n 6+T (I.+. The ,urrender value !n ICICI has a greater value as !t starts a ter 3 st year% wh!ch !s 345. The Automat!c prem!um payment !n 6+T (I.+ has got the opt!on to !nvestors to stop the prem!um or a certa!n per!od o t!me. The le&!#!l!ty to Increase ) Decrease the death #ene !t !n 6+T (I.+ !s most #ene !c!al. The Add!t!onal cred!ts are g!ven to !nsurance !nvestors only !n ICICI% #ut not !n others. The Top1up ac!l!ty !n 6+T (I.+ !s #etter as !t allows to dump1!n as much as Rs. :;%444. The ,w!tch ac!l!ty !n 6+T (I.+ !s relevant than 8IR(A ,UN(I.+.

The In!t!al charges o the !nsurance compan!es vary depend!ng upon the!r prem!um pa!d. The Adm!n charges o the !nsurance compan!es vary accord!ng to the!r !nternal rules. The .und management charges !n 8IR(A ,UN(I.+ are more a orda#le #y an !nvestor. The R!ders ac!l!ty d! ers rom company to company accord!ng to pol!cy.

CONC(U,ION,
Num#ers o actors were ta$en !nto cons!derat!on #e ore reach!ng a conclus!on a#out the !nsurance ' ICICI *RUD+NCIA( (I.+ IN,URANC+ compan!es. That !s overall per ormance o IN"+,T ,-I+(D (I.+ !nclud!ng ollow!ng actors.

Investors are en/oy!ng the cheap loans prov!ded #y the #an$s wh!ch shows that there w!ll urther act!v!ty down the l!ne. Insurance has a un!9ue eature% !.e.% r!s$ cover or l! e. +ven through return !s !n !nsurance% !t !s !mportant !nstrument !n !ts port ol!o to ul !ll the monetary loss o the !nvestors towards the!r dependants. 8y entry o pr!vate !nsurance players !n the mar$et% there are new products% wh!ch also ta$e care o your !nvestments. (ong1term pol!c!es are #etter than med!um term and short1term pol!c!es or #etter uture arrangements. *r!vate l! e !nsurances are do!ng well !n Ind!an mar$et #y prov!d!ng !nnovat!ve products and #etter serv!ces to the customers. *eople mostly go or ch!ld0s plan to meet the uture need o the!r ch!ldren.
The company #el!eves that the corporate plans ormulated !n response to !ts an&!ety or systemat!c long range plann!ng% w!ll serve as a v!tal and dynam!cs document wh!ch gu!de the company !n the year that d!e a head. It !s reasona#ly certa!n that some o the assumpt!on on wh!ch th!s plans to #e val!d through the planned years. +ven the corporate plann!ng e&erc!se w!ll prov!de e ect!ve trust and d!rect!on to the organ!=at!on as select!on !ts uture and del!#erate strateg!c dec!s!on N ma$!ng. The customers and employees o the company are ul !ll!ng the!r role that has #een ass!gned to them. The company0s uture apprehens!on !s l!es on the head o !ts customers.

RECOMMENDATIONS To ma$e !nvestment !n !nsurance one should #e aware o d! erent !nvestment strateg!es and ways to allocate the assets. Ind!an .!nanc!al ,ystem !s chang!ng rap!dly w!th changes come a lots o challenges and !t !s only the alert and #ehav!ors o !nvestors w!th a long1term th!n$!ng w!ll success to meet all the!r uture unseen challenges. 6ore reputat!on !s needed or the company% as !nsurance pol!c!es are sold on the #as!s o rel!a#!l!ty. There should #e the arrangement o drop1#o&es !n all1!mportant places !n the c!ty. As all $nows advert!sement can0t sell the pol!c!es #ut the people can do the same. ,o they should #e aware o the products o the company and #ene !ts o those products. Company should concentrate on the :;1<4 year age group% #ecause th!s !s the t!me when people show more !nterest !n !nvestment. There should #e low prem!um amount !n the ur#an N area. ,o that even low1 !ncome group people can also !nvest the!r money !n pol!c!es. Company should g!ve spec!al tra!n!ng to the!r !nsurance consultants t!me #y t!me. There should #e some arrangement o telecast!ng the!r products !n reg!onal telev!s!on !n order to reach the rural people. To ma$e !nvestment !n !nsurance one should #e aware o d! erent !nvestment strategy ' ways to allocate the assets% the deta!l descr!pt!on !s g!ven #elow.

Ta#le show!ng the d! erent !nvestment strateg!es and ways to allocate the asset Li)e A#e Cir3u stan3es Strate#& Li)e C&3$e
Youn# A!u$t
1.s Has no !e6en!ent> (as ta;en 3ar ? bi;e $oan> in%ertib$e sur6$us $o', Li)e nee!s #ro't(> ta;in# insuran3e $o' as H ris;D is Subtra3t

Insuran3e
"u& on$& i) &ou (a%e !e6en!ents,

a33u u$ate! abi$it&

Youn#

2.s

C(i$!ren an! s6ouse

(i#( at t(is sta#e, S(ou$!G%e

Fa i$&

a& be !e6en!ent (as ta;en (o e $oan> starts in%ertib$e in earnest,

a!e*uate insuran3e asset an! a##ressi%e

$i)e an! 3ontinue 'ea$t(

e@istin# )ro nee!s 3o%er

assets 3urrent an! t(e

6rote3tion

!i))eren3e, Maintain 3o%er ba$an3e assets, t(e o) t(e

Mature Fa i$&

E.s

Hi#( #ro'n Ho e

e!u3ation u6 $oan

o)

3reation, Nee!s $o' as asset base bui$!s u6N s(ou$! 3$ear !ebts H start !e(is3in# in%est ent 6ort)o$io b& !e6$o&in# )un!s in

3(i$!ren, near$&

ra6i!> in3o e 6ea;in#> in%ertib$e sur6$us (i#(,

s(orter e@istin#

E 6t& Nesters

/.s

C(i$!ren in!e6en!ent> !ebts> sur6$us 6re6aration

are (o e in%ertib$e 6ea;> an! )or e@6enses 3reatin#

sa)er instru ents, Di%ert ne' sur6$us to 6ai! retire ent 3or6us> re!u3e 6ort)o$io ris;,

Co%ers as $on# as &ou are earnin#s,

$oan re6ai!> no ot(er

Retire!

0. J

$i*ui!ation, Hea$t( e@6ensesN

Create 3as( sa)e

a!e*uate )$o's )ro in%est ents> t(at bat to

No $i)e 3o%er nee!e!, retire ent 3or6us nee!s, s(ou$! no' )un! &our Your

re6$a3e 'or; re$ate! re#u$ar 3as( )$o's H beatin# in)$ation are to6 6riorit&,

in%est sur6$us in instru ents 3o )ortab$e in)$ation

6re%ent erosion o) retire ent 3a6ita$,

For The Further %e!earch Ind!an .!nanc!al ,ystem !s the #!ggest !n the world. In post (*2 per!od% the scenar!o !s 9u!t comple& and challeng!ng. +very sunr!se !s see!ng the r!se o new !nanc!al products along w!th new

!nvestment strateg!es and evaluat!on o those strateg!es. ,o% !t g!ves a#ulous opportun!t!es or urther research !n ollow!ng areas. %e!earch can *e he#d on
The Impact o pr!vat!=at!on o Ind!an .!nanc!al ,ystem. Comparat!ve analys!s o d! erent mar$et products and unds. 8y ta$!ng any one type o !nanc!al !nstruments. On #u!ld!ng the port ol!o o the !nvestor. Recently !ntroduced products !n the mar$et.

"I"LIO+RAPHY
8oo$s>
4, I,M,Pan!e& DD.!nanc!al 6anagement% Ath +d!t!on% "!$as *u#l!cat!on% New Delh!. 1, Prasanna C(an!ra DDInvestment Analys!s and *ort ol!o 6anagement C.6 N T6- *ro ess!onal ,erv!ces !n .!nance% Tata 6ac2raw -!ll. 2, Dr, ",+,Sat(&6rasa! DD.!nanc!al management% :nd +d!t!on% -!malaya *u#l!cat!on% New Delh!. E, L,M,"(o$e DD.!nanc!al Inst!tutes and 6ar$ets% <rd +d!t!on% Tata 6ac2raw -!ll.

6aga=!nes>
The Chartered Accountants Insurance Industry% June :44<104@% "olume> 1 ;3% No> 3: Journal o the Inst!tute O Chartered Accountants O Ind!a. Insurance *ost Outloo$ 6oney Dalal ,treet Investment 6on!tor

K+8,IT+,>
''',ir!ain!ia,or# ''', et$i)e,3o ''',i3i3i6ri$i)e,3o ''', one&3ontro$,3o

ANNEQURE,
RUESTIONNAIRE,

I> Mr,Iranna S(i%a$in#a66a> Fina$ Se ester un!er "an#a$ore Uni%ersit&> an! !oin# & 6roCe3t in Co 6arati%e Stu!& on In%est s(ie$! $i)e 'it( s6e3ia$ re)eren3e to ICICI Pru!entia$Gs 'it( ot(er 3o 6anies, I 'i$$ be %er& u3( t(an;)u$ i) &ou s6are )e' o ents o) &our 6re3ious ti e 'it( e to #i%e t(e ans'er o) )o$$o'in# *uestions> '(i3( 'i$$ be o) #reat (e$6 to e,
4, W(at is t(e na e o) t(e 6o$i3&> '(i3( (as )eatures $i;e UnitD$in;e! 6$anS 1, W(at s(ou$! be t(e 2, W(at are t(e ini u E, W(at is t(e a3tua$ Su ini u H H a@i u a@i u A#e o) t(e 6o$i3& in t(is 6o$i3&S Ter s o) t(is 6o$i3&S

assure! a ount in t(is 6o$i3&S

/, W(at are t(e )a3i$ities o) Maturit& bene)it a%ai$e! in t(is 6o$i3&S 0, W(at is t(e )a3i$it& o) Deat( bene)it a%ai$ab$e in t(is 6o$i3&S I, Do &ou (a%e an& Wit(!ra'a$ bene)it in t(is 6o$i3&S Yes I) &es Ho' H '(en it 'i$$ be a%ai$ab$e to 6o$i3&(o$!erS =, W(at is t(e ini u Contribution o) 6re iu 6ai! in t(is 6o$i3&S No

<, Do &ou (a%e an& a!!itiona$ bene)it $i;e E@ten!e! $i)e 3o%era#e in t(is 6o$i3&S
Yes I) &es W(at are its bene)its H (o' it 3an be a%ai$ab$e to 6o$i3&(o$!erS 4., Is t(ere an& )$e@ibi$it& to In3rease ? De3rease t(e 3ontribution in t(is 6o$i3&S Yes I) &es W(at are t(e $i itationsS 44, W(at are t(e %arious In%est ent o6tions in t(is 6o$i3&S No No

41, Do &ou (a%e t(e )a3i$it& o) ter inatin# t(is 6o$i3& be)ore t(e en! o) t(e ter 3$osin# 7Surren!er %a$ue8S
Yes I) &es No

W(at are its s3(e!u$es H )ro

'(en it is %a$ue!S

42, Do &ou a$$o' &our 6o$i3&(o$!er to ta;e a brea; )ro 6re iu 6a& ent 7Auto ati3 6re iu 6a& ent8S
Yes I) &es No

W(en H (o' ter 'or;sS 4E, Is t(ere an& )$e@ibi$it& to In3rease ? De3rease !eat( bene)it o6tionS
Yes I) &es Su##est t(e o!e H 6atternS 4/, Wou$! &ou 6a& an& A!!itiona$ 3re!its to 6o$i3&(o$!er at an& 6oint o) ti e !urin# t(e 6o$it& ter S Yes I) &es Mention its stru3ture )ro Yes I) &es No '(en it startsS 40, Do &ou a$$o' t(e sur6$us )un!s to in%est as a To6Du6S No No

W(at s(ou$! be t(e

ini u

su

o) a ount t(at s(ou$! be To6Du6S

4I, Do &ou (a%e t(e o6tion o) S'it3(in# bet'een )un!s> as t(e 6o$i3&(o$!er re*uiresS Yes I) &es W(en H (o' t(is o6tions 3an be uti$iLe!S 4=, Ho' !o &ou a$$o3ate t(e 6re iu Yes I) &es Mention (o' 1., Ho' u3(S ana#e ent 6ro3essS u3( !o &ou 3(ar#e to'ar!s t(e )un! No ratesS 4<, Do &ou 3(ar#e an& A! in 3(ar#es on t(is 6o$i3&S No

14, Do &ou #i%e t(e bene)it o) Ri!ers in t(is 6o$i3&S Yes No I) &es Mention t(eir t&6esS