A PROJECT REPORT ON A COMPARATIVE STUDY OF ULIP PLANS OFFERED BY

ICICI PRUDENTIAL COMPANIES AND OTHER LIFE INSURANCE

Submitted To: PUNJAB TECHNICAL UNIVERSITY, JALANDHAR

FOR THE PARTIAL FULFILLMENT OF THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION

(Session !!"#$!%
UNDER &UIDANCE '(: SUB)ITTED BY*

)+s, Su-.meet -/u+

Di0it 1um/+ Ro22 No, : "!3!45$6! ! SVIET Cont/7t no, # !3!$6!6486$

S9A)I VIVE1NAND INSTITUTE '( EN&INEERIN& AND TECHN'L'&Y PUNJAB TECHNICAL UNIVERSITY, JALANDHAR

P+e:/7e
MBA is a stepping-stone to the Management carrier and to develop good Managers is necessary that the theoretical must be supplement with exposure to the real environment. Theoretical knowledge just provides the base and it s not su!!icient to produce a good Manager that s why the practical knowledge is needed. There!ore the "esearch #roject is an essential re$uirement !or the student o! MBA. This research project not only helps the students to utili%e his skills properly and learn !ield realities but also provides a chance to the organi%ation to !ind out talent among the building Managers in the very beginning. &n accordance with the re$uirement o! MBA course & have done my research project on the topic ;C')PARATIVE STUDY '( ULIP PLANS '((ERED BY ICICI PUDENTIAL AND 'THER LI(E INSURANCE C')PANIES< with special re!erence to &'&'& #rudential.

'erti!icate by the (aculty )uide

&UIDE=S CERTI(ICATE

This is to certi!y that Mr. *Ms. ++++++++++++++++++bearing the "eg. ,o. ++++++++++++ currently undergoing &-th .emester MBA in .wami -ivekanand &nstitute o! /ngineering and Technology a!!iliated to #unjab Technical 0niversity1 2alandhar he carried out a project on A
'3M#A"AT&-/ .T045 3( 06&# #6A,. 3((/"/4 B5 &'&'& #"04/,T&A6 A,4 3T7/" 6&(/ &,.0"A,'/ '3M#A,&/.8 under my guidance and

supervision and the work done by her is original and outcome o! her sincere e!!orts.

Mrs. .ukhmeet 9aur 4ate: ----------

(#"32/'T )0&4/;

INDE>

I. PREFACE II. CERTIFICATE III. EXECUTIVE SUMMARY IV. LITERATURE REVIEW

S+,no
C./?te+#$

Tit2e
INTR'DUCTI'N &ntroduction - basics o! insurance ,eed o! li!e o! insurance "oles o! insurance Types o! li!e insurance

C./?te+# C./?te+#5 C./?te+#@ C./?te+#8 C./?te+#4 C./?te+#6 (i% (ii% (iii% (iB%

INDUSTY PR'(ILE C')PANY PR'(ILE RESEARCH )ETH'D'L'&Y C')PARATIVE STUDY DATA ANALYSIS A INTERPRETATI'NS LI)ITATI'NS REC'))ENDATI'NS C'NCLUSI'N BIBLI'&RAPHY ANNE>URE

Literature Review
7ow a company does announced a name change especially when the old name was well known< 7ow does the company explain itsel! to constituents who may have known the company $uite well in an earlier incarnation but may be struggling to !igure out what the new organi%ation stands !or< 7ow can the company create a new image while retaining the strengths o! the old one< And what role might corporate advertising play in all this< 'orporate advertising can tell a story about a company as a whole1 large organi%ations may need to use corporate ads to simpli!y their image in the minds o! key constituents and to show what uni!ies the company1 despite the geographical spread and variety o! its businesses. =e can very well understand the concept o! corporate advertising by taking the example o! &'&'& #rudential communication. =hen 'ompany !irst began operations1 the task was to present the visiting card o! the company to the public at large and build credibility and stature and to give the consumer the con!idence that >>here is a company that can be trusted to invest !unds with.>> This re$uired a corporate campaign - to establish the brand1 build awareness and give the brand a larger-than-li!e image. The advertising idea1 which was encapsulated in symbols o! protection !rom the initial print campaign1 culminated in the corporate !ilm where sindhoor was used as an endearing and lasting symbol o! protection. 3nce the corporate image and brand identity were established1 and as the company expanded and its product range grew1 the next phase o! communication was to give the consumer a rational and tangible reason to buy - !irst o! all insurance and secondly !rom &'&'& #rudential 6i!e. This was tackled through product-speci!ic advertising1 such as !or &'&'& #ru .mart 9id1 retirement solutions or 6i!eTime.

Key Summery
'reate a good citi%en image through consistent ? dedicated e!!ort. 'onvey the organi%ations commitment to the concerned publics as well as to the masses ? eliminate prejudices1 i! any held by opinion leaders in particular ? by the public in general. Boost both employee management relation ? employee morale enabling all

 Members o! the internal public to discover a new vitality.

E>ECUTIVE SU))ARY

Tit2e o: t.e ?+oCe7t:

.tudy 06&# in current market scenario* .tudy customer response towards 06&#

'bCe7tiBes:
=orking o! the unit linked insurance plans .wot analysis o! the product 'omparative study o! the competition .tudy tax planning solutions available in the market .tudy asset allocation through insurance plans Market inter!ace

Com?/+/tiBe /n/2Dsis done on:

6i!e insurance corporation 74(' .tan 6i!e Birla .un 6i!e Bajaj Allian%

Rese/+7. )et.odo2oED:
#rimary data collected by personally visiting these leading insurance players. /g: 6&'1 Max ,ew 5ork 6i!e &nsurance1 Bajaj Alliance1 Birla .unli!e1 74(' .tan li!e.

D/t/ Co22e7tion:
#rimary data collected through direct intrection with customer. .ample si%e @AA people. .econdary database !rom di!!erent maga%ines. (irst and !oremost1 accumulating in!ormation !rom newspapers 1 2ournals1 Maga%ines1 and company webside. .econdly1 taking a sample si%e and doing a market survey by !illing up $uestionnaires !rom customers to !ind out what di!!erent companies are o!!ering in the 06&# section and how are they similar*di!!erent !rom &'&'& #"04/,T&A6 products. Also keeping a track and taking down the !eedback regarding perception1 attitude1 taste and pre!erences o! the customer. Thirdly1 analy%ing the data collected. 'omparing the 06&# products o!!ered by other insurance players. 'ritical analysis o! consumer perceptionB their choice and pre!erences. /ventually1 deciding on how to !amiliari%e 06&# products in the market and what all sa!eguards need to be taken while approaching the customers.

CHAPTER#$

INTR'DUCTI'N T' INSURANCE

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Insu+/n7e is / sDstem to /22eBi/te :in/n7i/2 2osses bD t+/ns:e++inE +is- o: 2oss :+om one entitD to /not.e+, C&nsurance is basically a sharing device. The losses to assets resulting !rom natural calamities like !ire1 !lood1 earth$uake1 accidents1 etc. are met out o! the common pool contributed by large number o! persons who are exposed to similar risks. This contribution o! many is used to pay the losses su!!ered by un!ortunate !ew. 7owever the basic principle is that loss should occur as a result o! natural calamities or unexpected events which are beyond the human control. .econdly insured person should not make any gains out o! insurance. &t is natural to think o! insurance o! physical assets such as motor car insurance or !ire insurance but o!ten we !orget that creator o! all these assets is the human being whose

e!!orts have gone a long way in building up the assets. &n that sense1 human li!e is a uni$ue income generating assets. 0nlike the physical assets1 which decrease in value with passage o! time1 the individual becomes more experienced and more matured as

he advances in age. This raises his earning capacity and the purpose o! li!e insurance is to protect the income in the event o! his premature death. The individual himsel! also needs !inancial security !or the old age or on his becoming permanently disabled when his income will stop. &nsurance also has an element o! savings in certain cases. HoF insu+/n7e Fo+-sG .uppose there are @AAA persons all aged DE years and healthy lives. They are insured !or one year against the risk o! death. /ach person is insured !or "s. EA1AAA. &! the past experience indicated that F out o! @AAA persons1 at this age are expected to die during the year1 expected amount o! death claim to be paid to the !amily o! !our persons would come to "s. G1AA1AAA. The contribution to be paid by each o! the @AAA persons will come to "s. GAA per year. Thus1 all the @AAA persons share loss caused to the F un!ortunate !amilies. HHI persons who survived till one year have not lost anything as they secured peace o! mind and a !eeling o! security o! their !amily. =hile insurance cannot prevent accidents or premature death1 it can help protect the !amily o! the decreased against the loss o! income caused by the death o! the main breadwinner. &n return !or speci!ied payments1 insurance will provide protection against the incidence o! an uncertain event- such as premature death. The business o! insurance company called insurer is to bring together persons who are exposed to similar risks1 collect contribution Jpremium; !rom them on some e$uitable basis and pay the losses Jclaims; to the un!ortunate !ew who su!!er. C2/ssi:i7/tion o: Insu+/n7e &nsurance business can be divided into two broad categories1 li!e and non-li!e. 6i!e insurance is concerned with making provision !or a speci!ic event happing to the individual1 such as death whereas non li!e Jor general insurance; is more commonly concerned with the provision !or a speci!ic event which a!!ects a property1 such as !ire1 !lood1 the!t etc. &n this course we will only cover li!e insurance. .o1 let us now move on to the de!inition o! li!e insurance.

De:inition o: Li:e Insu+/n7e According to the 0... 6i!e 3!!ice Management Association &nc. J63MA;1 li!e insurance is de!ined as !ollows: C6i!e insurance provides a sum o! money i! the person who is insured dies whilst the policy is in e!!ect8.

NEED ('R LI(E INSURANCE

"isks and uncertainties are part o! li!e>s great adventure -- accident1 illness1 the!t1 natural disaster - they>re all built into the workings o! the 0niverse1 waiting to happen. &nsurance then is man>s answer to the vagaries o! li!e. &! you cannot beat man-made and natural calamities1 well1 at least be prepared !or them and their a!termath. &nsurance is a 7ont+/7t between two parties - the insurer Jthe insurance company; and the insured Jthe person or entity seeking the cover; - wherein the insurer agrees to pay the insured !or !inancial losses arising out o! any un!oreseen events in return !or a regular payment o! K?+emiumK. These un!oreseen events are de!ined as K+is-K and that is why insurance is called a risk cover. 7ence1 insurance is essentially the means to !inancially compensate !or losses that li!e throws at people - corporate and otherwise. The principle o! insurance works on the concept o! a large number o! people exposed to a similar risk making a contribution to a common !und. Those who su!!er losses due to the occurrence o! these events are compensated !or them !rom this !und.

R'LE '( LI(E INSURANCE

Life Insurance As An Investment ! &nsurance is an attractive option !or investment. =hile most people recogni%e the risk hedging and tax saving potential o! insurance1 many are not aware o! its advantages as an investment option as well. &nsurance products yield more compared to regular investment options1 and this is besides the added incentives o!!ered by insurers. 5ou cannot compare an insurance product with other investment schemes !or the simple reason that it o!!ers !inancial protection !rom risks1 something that is missing in non-insurance products. &n !act1 the premium you pay !or an insurance policy is an investment against risk. Thus1 be!ore comparing with other schemes1 you must accept that a part o! the total amount invested in li!e insurance goes towards providing !or the risk cover1 while the rest is used !or savings. &n li!e insurance1 unlike non-li!e products1 you get maturity bene!its on survival at the end o! the term. &n other words1 i! you take a li!e insurance policy !or GA years and survive the term1 the amount invested as premium in the policy will come back to you with added returns. &n the un!ortunate event o! death within the tenure o! the policy1 the !amily o! the deceased will receive the sum assured. ,ow1 let us compare insurance as an investment options. &! you invest "s @A1AAA in ##(1 your money grows to "s @A1HEA at H.E per cent interest over a year. But in this case1 the access to your !unds will be limited. 3ne can withdraw EA per cent o! the initial deposit only a!ter F years. The same amount o! "s @A1AAA can give you an insurance cover o! up to approximately "s E-@G lakh Jdepending upon the plan1 age and medical condition o! the li!e insured1 etc; and this amount can become immediately available to the nominee o! the policyholder on death. Thus insurance is a uni$ue investment avenue that delivers sound returns in addition to protection.

TYPES '( LI(E INSURANCE PLANS

Li:e Insu+/n7e P2/ns: 0nder 6i!e insurance plans1 &'&'& #rudential o!!ers plans under the !ollowing major need categories: /ducation &nsurance #lans =ealth 'reation #lans #remium )uarantee plans #rotection #lans

Education Insuranc P!ans

3ne o! your most important responsibilities as a parent is to ensure that your child gets the best possible education that can be provided. &'&'& #rudential o!!ers a wide port!olio o! education insurance plans that are designed to provide peace o! mind to you1 as a parent1 that your child>s education will be secure. These plans ensure that money is made available at the crucial junctures in a child>s education - 'lass L1 'lass L&&1 graduation and post-graduation - to !und crucial commitments !or the child>s !uture. &mportantly1 education insurance plans ensure that in the un!ortunate event o! the death o! a parent1 the child>s education continues unhampered. 0nder the education insurance plans plat!orm1 &'&'& #rudential brings the !ollowing products to you. #lease click on the product name to know more about the plans.

#lan ,ame .mart9id ,ew 0nit-linked "egular #remium .mart9id ,ew 0nit-linked .ingle #remium .mart9id "egular #remium

#lan Type 0nit 6inked 0nit 6inked Traditional

W a!t" Cr ation P!ans =ealth 'reation #lans give the customer the dual bene!it o! protection along with the potentially higher returns o! market-linked instruments. The most important bene!it o! 06&#s is the !lexibility they give the customer in choosing the premium amount and also choosing the underlying !und in which this money is to be invested. =ealth creation plans also o!!er the customer more li$uidity options as compared to traditional plans. As such1 06&#s are ideal !or customers who want the protection o! a li!e cover to be allied to the returns o! market linked instrument M giving them an unmatched combination o! bene!its. 0nder the wealth creation plat!orm1 &'&'& #rudential brings the !ollowing products to you. #lease click on the product name to know more about the plans.

#lan ,ame

#lan Type

LifeTime Super LifeLink Super PremierLife Gold LifeTime Plus

Unit Linked Unit Linked Unit Linked Unit Linked

Pr #iu# $uarant

P!ans

The latest addition to the li!e insurance product port!olio o! &'&'& #rudential is the #remium )uarantee plan - &nvest.hield 6i!e ,ew. #remium )uarantee plans are the ideal insurance-cum-investment option !or customers who want to enjoy the potentially higher returns o! a market linked instrument1 but without taking any market risk. 0nder the #remium )uarantee #lans plat!orm1 &'&'& #rudential brings to you the !ollowing products:

#lan ,ame

#lan Type

InvestShield Life New InvestShield CashBak

Unit Linked Unit Linked

Prot ction P!ans The sole objective o! these plans1 as their name indicates1 is to serve the protection needs o! the customer and by doing so1 sa!eguard one s !amily !rom the !inancial implications o! un!ortunate circumstances than one cannot !oresee. 0nder the #rotection #lans plat!orm1 &'&'& #rudential brings to you the !ollowing products:

#lan ,ame

#lan Type

LifeGuard Save'n'Protect CashBak ome !ssure

Traditional Traditional Traditional Traditional

THE INSURANCE RE&ULAT'RY AND DEVEL'P)ENT AUTH'RITY (IRDA%

"e!orms in the &nsurance sector were initiated with the passage o! the &"4A Bill in #arliament in 4ecember @HHH. The &"4A since its incorporation as a statutory body in April GAAA has !astidiously stuck to its schedule o! !raming regulations and registering the private sector insurance companies. The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the li!e insurance companies was the launch o! the &"4A s online service !or issue and renewal o! licenses to agents. The approval o! institutions !or imparting training to agents has also ensured that the insurance companies would have a trained work!orce o! insurance agents in place to sell their products1 which are expected to be introduced by early next year. .ince being set up as an independent statutory body the &"4A has put in a !ramework o! globally compatible regulations. &n the private sector @G li!e insurance and I general insurance companies have been registered.

9HY PRIVATE INSURANCEG

All the private companies have a lock in period o! D yrs hence no disinvestments possible. Minimum net worth o! EAA 'r re$uired !or ac$uiring license with a minimum paid up capital o! @AA 'r in their insurance venture. 'ommitment to increase the paid up capital mani!old in next !ive years. "e insurance !or all its policies worth more than E lakhs. "einsurance partners1 best and the largest in the world M general cologne and .wiss reinsurance. Audit o! accounts by at least G independent approved auditors each year. #roducts and pricing are cleared by &"4A1 which looks into the !inancial visibility o! the product and the !inancial implication. &"4A is now proposing a #vt. #olicy #rotection !und. (unds to be invested in only regulated and controlled areas with close to NAObeing pumped into only gilts thereby assuring sa!ety o! !unds.

CHAPTER#

INDUSTRY PR'(ILE
%ac&'round
&n @H@G1 the &ndian li!e insurance companies Act was passed . This was the !irst comprehensive legislation in &ndia to regulate the business o! insurance. it had been observed that the provisions o! &ndian 'ompany s Act did not meet the purpose. A !urther legislation was passed in @HGN1 But a comprehensive legislation was passed in @HDN. The amendments in the act were made in @HEI when insurance was nationali%ed and 6&' and )&' were !ormed. 6i!e insurance business was nationali%ed with e!!ect !rom @H 2anuary @HEI and GEI companies were merged. &nsurance Act was !urther amended in @HHH and &"4A was !ormed in view o! the circumstances arising out o! opening up o! insurance industry in GAAA.&"4A authority to protect the interest o! the holders o! insurance policies1 to regulate 1 promote and ensure the working o! all companies. As we enter into the new millennium1 economies o! the world over are getting rede!ined and remodeled with the new mindsets1 new technologies1 new riles and new directions. (inancial sector re!orms received top priority ever since the )ovt. o! &ndia initiated the process o! economic liberali%ation. These re!orms are extending the hori%ons o! the !inancial services sector and have been trans!orming our capital markets 1 banking and !inancial services industries. &n the last !our decades 1 a!ter nationali%ation o! the insurance industry 1 certain socio-economic objectives were achieved through public ownership o! the insurance business. 5et1 market oriented dynamism was missing as evidenced by the lack o! product innovations1 high premium rates and limited use o! in!ormation technology.

The insurance sector re!orms have encouraged Blue-Bloods o! &ndian corporate sector TATA1&'&'&174('1B&"6A1.B&1"/6&A,'/193TA9 etc to tie up with world s largest insurance majors to capture slice o! the country s potential insurance market. This has brought abu%% activities in insurance business. ,ew players are wooing the customer with promises o! better services and customi%ed products. The 6&' and )&' are countering the competition on the strength o! their track records1 distribution networks and so on. This new scenario will witness !inancially sound and experienced players trans!orming the industry with best products in service and product development 1 operational e!!iciency1 marketing capability1 service plus and tech-savvy orientation. As a result1 the insurance business can become global with e-business applications. &t is awkward business playing value !igures on people s lives. &t is almost as awkward as selling the likelihood o! an event people do not want crossing their minds . in &ndia1 it is rather a shrub. (or this reason alone li!e insurance is no ordinary market. 0nder the pressure o! competitors di!!erentiate their o!!erings1 insurers no longer sell li!e insurance as a product that meets a basic need 1 many o! them sell though the appeal o! a wide variety o! add on bene!its ranging !rom tax saving to investment return1 sometimes pitying more emphasis on these basic bene!its. This assumes signi!icance because &ndia is witnessing !oreign competition in this sector a!ter a long monopoly period. There is consensus on success becoming a !unction o! market strategy. .o !ar the market has been shaped by 6&' . it is only recently that private insurers with PF:GI joint ventures between &ndian and !oreign companies have been !ormed under the watch o! &"4A. &'&'& prudential1 74(' slandered li!e and Max ,ew 5ork 6i!e were !irst o!! the block1 !ollowed by 9otak

Mahindra1 "oyal .undram1TATA Aig1Birla .unli!e1.B& 6i!e and &,) -yasa which were started later. .udden burst o! competition itsel! is a uni$ue occurrence. The &ndian market distinguishes itsel! in other ways too1 most notably in the areas o! consumer perception and investment option. .o it is worth which will the market move and what could be the winning strategies. Basic premise is clear that 2i:e insu+/n7e is / s?e7i/2iHed business8.

LI(E INSURERS
@. G. D. F. E. I. P. N. H. BA2A2 A66&A,Q 6&(/ &,.0"A,'/ '3.6T4. B&"6A .0,6&(/ &,.0"A,'/ '3. 6T4. 74(' .TA,4A"4 6&(/ &,.0"A,'/ '3. 6T4. &'&'& #"04/,T&A6 6&(/ &,.0"A,'/ '3. 6T4. &,) -5.5A 6&(/ &,.0"A,'/ '3.#-T.6T4. 6&(/ &,.0"A,'/ '3"#3"AT&3, 3( &,4&A. MAL ,/=53"9 6&(/ &,.0"A,'/ '3. 6T4. M/T6&(/ &,4&A &,.0"A,'/ '3. #-T.6T4. 93TA9 MA7&,4"A 364 M0T0A6 6&(/ &,.0"A,'/ '3. 6T4. @A. @@. @G. @D. .B& 6&(/ &,.0"A,'/ '3.6T4. TATA A&) 6&(/ &,.0"A,'/ '3.6T4. A-&-A 6&(/ &,.0"A,'/ '3. 6T4. .A7A"A 6&(/ &,.0"A,'/ '3. 6T4.

Li:e Insu+/n7e Com?/nies

ICICI P+udenti/2 Li:e Insu+/n7e Com?/nD Limited &'&'& #rudential 6i!e &nsurance 'ompany 6imited was incorporated on 2uly GA1GAAA.The authori%ed capital o! the company is "s GDAA million and the paid up capital is "s @EAA million. The 'ompany is joint o! &'&'& JPFO; and #rudential plc 09 JGIO; The company was granted certi!icate o! registration !or carrying out li!e insurance business1 by the insurance regulatory and development Authority on ,ovember GF1GAAA.it commenced commercial operations on 4ecember @H1 GAAA1becoming one o! the !irst !ew private sector players to enter the liberali%ed arena. &'&'& #rudential collected "s.@ENF corers as their premium during GAAF-AE ? the market share o! &'&'& pru. as per their premium is E.IDO as a whole but in the pvt .co .&'&'& hold FAO o! market share. IN& VYSYA LI(E INSURANCE C')PANY PVT, LTD, &,) -ysya 6i!e &nsurance is a joint venture between three pioneers1 &,) &nsurance -ysya Bank.
IN& &+ou?:

3ver the last @EA years1 &,) )roup has grown to become one o! the

largest li!e insurance organi%ations in the world. Today it touches the lives o! over EA millions people across IE countries. &t o!!ers a range o! !inancial services including insurance1 pensions1 banking and asset management. &n the year GAAA1total assets o! the group stood at over &," GN1FGAAA corers.

1'TA1 )AHINDRA LI(E INSURANCE C')PANY LTD, 9otak Mahindra li!e &nsurance 'ompany 6imited is a joint venture between 9otak Mahindra (inance 6td and 3ld Mutual. 1ot/- )/.ind+/ (in/n7e Ltd, 9otak Mahindra is one o! the &ndia s leading !inancial institutions1 o!!ering complete !inancial solution that encompasses every sphere o! li!e. (rom Banking1 to stock Broking1 to Mutual (unds1 to 6i!e &nsurance1 to &nvestment Banking1 the company caters to the !inancial needs o! individuals and corporates. '2d )utu/2 3ld Mutual1 a company with over @EP years o! experience in li!e insurance business1 has the largest !inancial services business in .outh A!rica1 through its li!e assurance1 asset management1 banking and general insurance operations. Being listed in 6ondon .tock /xchange and included in (T./ @AA list o! companies1 old Mutual s assets under management are worth RGAN billion.

T/t/ AI& Li:e Insu+/n7e Com?/nD:

Tata A&) )eneral &nsurance 'ompany 6td and Tata A&) 6i!e &nsurance 'ompany 6td Jcollectively Tata A&)8; are joint venture companies between the Tata group &ndia s most trusted industrial house and American &nternational grouping JA&);1 the leading 0.. based international insurance and !inancial services organi%ation. Both promoters have a deep and abiding interest in &ndia s &nsurance sector. #rior to nationali%ation1 the Tanta s pioneered private insurance in &ndia when .ir 4orab Tata set up new &ndia assurance in @H@H.By @HPD1when )eneral &nsurance was nationali%ed the Tata company had a global presence with EI overseas o!!ices. Aig too has always

considered the &ndian insurance sector to be o! signi!icance. The A&) companies entered &ndia in @HEF and had o!!ices in several &ndian cities prior to nationali%ation. HD(C ISt/nd/+d Li:e: HD(C .tandard 6i!e &nsurance company is a joint venture between &ndia s largest housing !inance provider1 74(' and /urope s largest mutual li!e assurance company The .tandard 6i!e Assurance 'ompany J09;. 74(' .tandard 6i!e &nsurance 'ompany 6imited is the !irst private sector li!e insurance company to be granted a license. .tandard 6i!e1 091 !ound in @NGE. The 09 insurance industry !or @PE years by combining sound !inancial judgment with integrity and reliability. &t is the largest mutual li!e company in /urope and has total assets o! "s.E1EA1AAA crore sit is one o! the very !ew insurance companies in the world to have CAAA rating !rom two o! the leading international credit rating agencies1 Moody and .tandard and #oor s. .tandard 6i!e was recently voted Ccompany o! the decade in 09 by the independent Brokers called &(As. LI(E INSURANCE C'RP'RATI'N '( INDIA (LIC% The 6i!e &nsurance 'orporation J6&'; was established about FH Jin@HEI; years ago with a view to provide an insurance cover against various risks in li!e .A monolith then1 the corporation1 enjoyed a monopoly status and become synonymous with li!e insurance.&ts main asset is its sta!! strength o! @.GF lakhs employees and GAFN branches and over six-lakh agency !orce. 6&' has hundred divisional o!!ices and has established extensive training !acilities at all levels .At the apex1 is the Management 4evelopment &nstitute1 .even Qonal Training centers and DE .ales Training 'enters.

At the industry level1 along with the )overnment and )&'1 it has helped established the ,ational &nsurance Academy. &t presently transacts individual li!e insurance businesses1 group insurance businesses1 social security schemes and pensions1 grants housing loans through its subsidiaryB and markets saving and investment products through its mutual !und. &t payo!! about "s IAAA crore annually to E.I million policyholders. Market share o! 6&' which is NG.DO.By the 6&' @.AH crores policies has been sold that was in the GAAF-AE ? the total premium that are collected by 6&' in GAAF-AE was "s.HAAP crores.

ALLIANJ BAJAJ LI(E INSURANCE C')PANY Allian% A) with over @@A years o! experience in over PA countries and Bajaj Auto1 trusted !or over EE years in the &ndian market 1together are committed to o!!ering !inancial solutions. 'haracteri%ed by global presence with a local !ocus and driven by customer orientation to establish high earnings potential and !inancial strength1 Allian% Bajaj 6i!e &nsurance 'o 6td was incorporated on @G th March GAA@.The company received the insurance regulatory and development Authority J&"4A; 'erti!icate o! "egistration on Drd August GAA@ to conduct 6i!e &nsurance business in &ndia. The Market share o! Bajaj Allian% in GAAD-AF was .HEO which has been increases in GAAF-AE and it is know G.ADO which depicts the !inancial position o! the co.

CHAPTER#5

C')PANY PR'(ILE
O( r(i ) &ndia s ,umber 3ne private li!e insurer1 &'&'& #rudential 6i!e &nsurance 'ompany is a joint venture between &'&'& Bank-one o! &ndia s !oremost !inancial services companies-and #rudential plc- a leading international !inancial services group head$uartered in the 0nited 9ingdom. Total capital in!usion stands at "s. GA.IA billion1 with &'&'& Bank holding a stake o! PFO and #rudential plc holding GIO. =e began our operations in 4ecember GAAA a!ter receiving approval !rom &nsurance "egulatory 4evelopment Authority J&"4A;. Today1 our nation-wide team comprises o! over ENA o!!ices1 over GDF1AAA advisorsB and GG bancassurance partners. &'&'& #rudential was the !irst li!e insurer in &ndia to receive a ,ational &nsurer (inancial .trength rating o! AAA J&nd; !rom (itch ratings. (or three years in a row1 &'&'& #rudential has been voted as &ndia s Most Trusted #rivate 6i!e &nsurer1 by The /conomic Times M A' ,ielsen 3") Marg survey o! CMost Trusted Brands . As we grow our distribution1 product range and customer base1 we continue to tirelessly uphold our commitment to deliver worldclass !inancial solutions to customers all over &ndia.

Vision * Va!u s 'u+ Bision: To make &'&'& #rudential the dominant 6i!e and #ensions player built on trust by world-class people and service. This we hope to achieve by: 0nderstanding the needs o: 7ustome+s and o!!ering them superior products and service 6everaging te7.no2oED to service customers $uickly1 e!!iciently and conveniently 4eveloping and implementing superior +is- m/n/Eement /nd inBestment st+/teEies to o!!er sustainable and stable returns to our policyholders #roviding an enabling environment to !oster growth and learning !or our em?2oDees And above all1 bui2dinE t+/ns?/+en7D in all our dealings. The success o! the company will be !ounded in its un!linching commitment to E core values M &ntegrity1 'ustomer (irst1 Boundary less1 3wnership and #assion. /ach o! the values describe what the company stands !or1 the $ualities o! our people and the way we work. =e do believe that we are on the threshold o! an exciting new opportunity1 where we can play a signi!icant role in rede!ining and reshaping the sector. )iven the $uality o! our parentage and the commitment o! our team1 there are no limits to our growth. 'u+ B/2ues : /very member o! the &'&'& #rudential team is committed to E core values: &ntegrity1 'ustomer (irst1 Boundary less1 3wnership1 and #assion. These values shine !orth in all we do1 and have become the keystones o! our success.

The &'&'& #rudential edge comes !rom our commitment to our customers1 in all that we do M be it product development1 distribution1 the sales process or servicing. 7ere s a peek into what makes us leaders.

@. 3ur products have been developed a!ter a clear and thorough understanding o! customers needs. &t is this research that helps us develop /ducation plans that o!!er the ideal way to truly guarantee your child s education1 "etirement solutions that are a hedge against in!lation and yet promise a !ixed income a!ter you retire1 or 7ealth insurance that arms you with the !unds you might need to recover !rom a dreaded disease. G. 7aving the right products is the !irst step1 but it s e$ually important to ensure that our customers can access them easily and $uickly. To this end1 &'&'& #rudential has an advisor base across the length and breadth o! the country1 and also partners with leading banks1 corporate agents and brokers to distribute our products D. "obust risk management and underwriting practices !orm the core o! our business. =ith clear guidelines in place1 we ensure e$uitable costing o! risks1 and thereby ensure a smooth and hassle-!ree claims process. F. /ntrusted with helping our customers meet their long-term goals1 we adopt an investment philosophy that aims to achieve risk adjusted returns over the long-term. E. 6ast but de!initely not the least1 our @I1AAA plus strong team is given the opportunity to learn and grow1 every day in a multitude o! ways. =e believe this keeps them engaged and enthusiastic1 so that they can deliver on our promise to cover you1 at every step in li!e.

Pro#ot rs ICICI B/n-

ICICI B/n- (NYSE:IBN% is &ndia s second largest bank and largest private sector bank with over EA years presence in !inancial services and with assets o! over "s DFFI.EN bn J0.4 PH billion; as on March D@1 GAAP. The Bank o!!ers a wide range o! banking products and !inancial services to corporate and retail customers through a variety o! delivery channels and through its D@peciali%ed subsidiaries in the areas o! investment banking1 li!e and non-li!e insurance1 private e$uity and asset management. &'&'& Bank is a leading player in the retail banking market and services its large customer base through a network o! over HEA branches and extension counters1 DDAA ATMs1 call centers and internet banking Jwww.icicibank.com;

to ensure that customers have access to its services at all times. P+udenti/2 P27 /stablished in 6ondon in @NFN1 #rudential plc1 through its businesses in the 09 and /urope1 the 0. and Asia1 provides retail !inancial services products and services to more than GA million customers1 policyholder and unit holders and manages over SGE@ billion o! !unds worldwide Jas o! D@ 4ecember GAAI;. &n Asia1 #rudential is the leading /uropean li!e insurance company with li!e operations in 'hina1 7ong 9ong1 &ndia1 &ndonesia1 2apan1 9orea1 Malaysia1 the #hilippines1 .ingapore1 Taiwan1 Thailand1 -ietnam. #rudential is the second largest retail !und manager !or Asian sourced assets ex-2apan as at 2une GAAI. &ts !und management business has expanded into a total o! ten markets : 'hina1 7ong 9ong1 &ndia1 2apan1 9orea1 Malaysia1 .ingapore1 Taiwan1 -ietnam and 0nited Arab /mirates.

Fact S"

THE Com?/nD &'&'& #rudential 6i!e &nsurance 'ompany is a joint venture between &'&'& Bank1 a premier !inancial powerhouse1 and #rudential plc1 a leading international !inancial services group head$uartered in the 0nited 9ingdom. &'&'& #rudential was amongst the !irst private sector insurance companies to begin operations in 4ecember GAAA a!ter receiving approval !rom &nsurance "egulatory 4evelopment Authority J&"4A;. &'&'& #rudential>s capital stands at "s. GA.IA billion with &'&'& Bank and #rudential plc holding PFO and GIO stake respectively. As o! March D@1 GAAP1 the company garnered "s. F1NFD crore o! weighted retail T group new business premiums and wrote over @.HI million retail policies. The company has assets held to the tune o! over "s. @E1AAA crore. &'&'& #rudential is also the only private li!e insurer in &ndia to receive a ,ational

&nsurer (inancial .trength rating o! AAA J&nd; !rom (itch ratings. The AAA J&nd; rating is the highest rating1 and is a clear assurance o! &'&'& #rudential>s ability to meet its obligations to customers at the time o! maturity or claims. (or the past six years1 &'&'& #rudential has retained its position as the ,o. @ private li!e insurer in the country1 with a wide range o! !lexible products that meet the needs o! the &ndian customer at every step in li!e. To know more about the company1 please visit Dist+ibution &'&'& #rudential has one o! the largest distribution networks amongst private li!e insurers in &ndia. As o! March D@1 GAAP the company has over ENA o!!ices across the country and over GDF1AAA advisors. The company has over GG bancassurnace partners1 having tie-ups with &'&'& Bank1 (ederal Bank1 .outh &ndian Bank1 Bank o! &ndia1 6ord 9rishna Bank1 &dukki 4istrict 'o-operative Bank1 2algaon #eoples 'o-operative Bank1 .hamrao -ithal 'o-op Bank1 /rnakulam Bank1 H Bank o! &ndia sponsored "egional "ural Banks J""Bs;1 .angli 0rban 'o-operative Bank1 Baramati 'o-operative Bank1 Ballia 9shetriya )ramin Bank1 The 7aryana .tate 'o-operative Bank. (2e0ib2e Ride+ '?tions &'&'& #ru 6i!e o!!ers !lexible riders1 which can be added to the basic policy at a marginal cost1 depending on the speci!ic needs o! the customer.

@. Accid nt * disa+i!it, + n -it. If death occurs as the result of an accident durin" the term of the polic#$ the %eneficiar# receives an additional amount e&ual to the rider sum assured under the polic#' If an accident results in total and permanent disa%ilit#$ ()* of rider sum assured will %e paid each #ear$ from the end of the (st #ear after the disa%ilit# date for the remainder of the %ase polic# term or () #ears$ whichever is lesser' If the death occurs while travelin" in an authori+ed mass transport vehicle$ the %eneficiar# will %e entitled to twice the sum assured as additional %enefit' G. Critica! I!!n ss % n -it. protects the insured a"ainst financial loss in the event of , specified critical illnesses' Benefits are pa#a%le to the insured

for medical e-penses prior to death' D. Wai( r o- Pr #iu#. In case of total and permanent disa%ilit# due to an accident$ the future premiums continue to %e paid %# the compan# till the time of maturit#' This rider is availa%le with LifeTime Super$ LifeTime Super Pension and CashPlus' About t.e P+omote+s ICICI B/n- J,5./:&B,; is &ndia>s second largest bank and largest private sector bank with over EA years presence in !inancial services and with assets o! over "s DFFI.EN bn J0.4 PH billion; as on March D@1 GAAP. The Bank o!!ers a wide range o! banking products and !inancial services to corporate and retail customers through a variety o! delivery channels and through its specialised subsidiaries in the areas o! investment banking1 li!e and non-li!e insurance1 private e$uity and asset management. &'&'& Bank is a leading player in the retail banking market and services its large customer base through a network o! over HEA branches and extension counters1 DDAA ATMs1 call centers and internet banking www.icicipruli!e.com to ensure that customers have access to its services at all times. /stablished in 6ondon in @NFN1 #rudential plc1 through its businesses in the 09 and /urope1 the 0. and Asia1 provides retail !inancial services products and services to more than GA million customers1 policyholder and unit holders and manages over SGE@ billion o! !unds worldwide Jas o! D@ 4ecember GAAI;. &n Asia1 #rudential is the leading

/uropean li!e insurance company with li!e operations in 'hina1 7ong 9ong1 &ndia1 &ndonesia1 2apan1 9orea1 Malaysia1 the #hilippines1 .ingapore1 Taiwan1 Thailand1 -ietnam. #rudential is the second largest retail !und manager !or Asian sourced assets ex-2apan as at 2une GAAI. &ts !und management business has expanded into a total o! ten markets : 'hina1 7ong 9ong1 &ndia1 2apan1 9orea1 Malaysia1 .ingapore1 Taiwan1 -ietnam and 0nited Arab /mirates. The &'&'& #rudential 6i!e &nsurance 'ompany 6imited Management team comprises reputed people !rom the !inance industry both !rom &ndia and abroad.

)s, S.i-./ S./+m/, Managing 4irector ? '/3 )+, N, S, 1/nn/n, /xecutive 4irector )+, B./+E/B D/sEu?t/, /xecutive 4irector )s, Anit/ P/i, /-# M 'ustomer .ervice ? Technology )+, AHim )it./ni, 'hie! Actuary )+, Puneet N/nd/, 'hie! &nvestments 3!!icer )+, Bin/D/- Dutt/, 'hie! M .ales and distribution

Mr. ,. .. 9annan /xecutive 4irector &'&'& #rudential 6i!e &nsurance 'ompany 6imited

,. .. 9annan joined &'&'& #rudential 6i!e &nsurance 'ompany 6td as /xecutive 4irector in August GAAE1 where he has overall responsibility !or sales1 marketing1 investments1 group business and business intelligence. #rior to joining &'&'& #rudential1 9annan was the 'hie! (inancial 3!!icer and Treasurer o! &'&'& Bank 6imited where he was responsible !or investor relations and !or the !inance1 per!ormance management1 accounts1 taxation1 risk management1 secretarial and credit middle o!!ice !unctions. The treasury operations o! &'&'& Bank include Balance .heet Management and Asset and 6iability Management. &'&'& Bank is the second largest bank in &ndia with an asset base o! about 0.R EE billion. The bank is listed on &ndian national stock exchanges and the ,ew 5ork stock exchange. 9annan joined &'&'& group in @HH@ as a project o!!icer. 4uring his tenure at &'&'& group1 he has handled project !inance operations1 in!rastructure !inancing1 structured !inance and treasury operations. #rior to his current assignment1 he has headed the Telecom ? Transportation group and .tructured (inance group o! the bank.9annan is a postgraduate in management !rom the &ndian &nstitute o! Management1 Bangalore with a gold medal !or best all-round per!ormance. 7e is also a 'hartered (inancial Analyst !rom the &nstitute o! 'hartered (inancial Analysts o! &ndia and an 7onours graduate in Mechanical /ngineering. 7is work experience includes D years o! industrial experience with a large engineering group in &ndia.

S9'T ANALYSIS '( ICICI PRUDENTIAL

STREN&THS &'&'& #"04/,T&A6 is the largest private player in the insurance industry in &ndia1 with a market share o! around DIO amongst the private players. &'&'& #"04/,T&A6 has deposited a paid up capital o! "s. HGE crores with &"4A as a caution deposit1 the highest amongst all the li!e insurance companies in &ndia whereas 6&' has deposited only IA crores so !ar. &'&'& #"04/,T&A6 is the !irst li!e insurance company to o!!er /'. debit !acility. &'&'& #"04/,T&A6 is the !irst company to introduce unit linked li!e insurance and pension products. #resently the maximum numbers o! ranges are under 06&# like li!e insurance1 investment as well as pension plans. &ts -enture !unds management co. 6td is &ndia s largest venture capital company. #"340'T.:

(lexibility to switch your !und value at your own discretion F times a year -i% Maximiser1 #rotector1 Balancer1 #reserver.

)reater transparency- policyholder knows what is happening to his money and where the company has invested the money. 6i$uidity option: you can make partial or complete withdrawals anytime a!ter D years. 6i!e insurance plans are eligible !or deduction under .ec. NA'. The proceeds or withdrawals o! li!e insurance policies are exempt under .ec @AJ@A4;1 subject to norms prescribed in that section.

 "iders are provided to give the policyholder the additional protection at marginal cost- Accident and 4isability rider1 'ritical &llness "ider1 Accidental bene!it rider. 6oan against the policy : A!ter the policy has ac$uired a surrender value one can avail loan against the policy. 9EA1NESSES &ndustry in nascent stage. "ural areas still not covered. ,ot very well known among the &ndian population. 6ack o! credibility in the public because &'&'& being a private player. #remiums are high as compared to its competitors. -ery !ew branches in the country. #"340'T.: The policy doesn t have the surrender option be!ore the Drd year. #lan do not o!!er any guarantee or assured return The product pro!ile is not very comprehensive. Mortality1 management and administrative charges are sky-scraping as compared to its competitors.

'PP'RTUNITIES 6iberali%ation o! &ndian economy. As the industry is growing the whole market is virgin. The whole private sector is open to be tapped even though the competition is !ierce !rom government owned insurance companies. &t s a volume business that is even i! the company has !ew good corporates the turnover ceases to increase by mani!old. #"340'T.:

 #reserver !und looks good due to com!ortable li$uidity in the economy and there is little chance o! any hike in short-term rates by "B&. (inance minister unveiled a budget-!avoring consumer spending1 boosting demand and there!ore higher economic growth THREATS The )ovt. players will become aggressive thus growth is going to be tough. /ntry o! other new players is not ruled out Apprehension towards &'&'& #"04/,T&A6 being a private li!e insurance company. =e expect the industry to rationali%e in !uture that is mergers and ac$uisitions will happen which will impact the industry and &'&'& #"04/,T&A6 !ortunes. #"340'T.: #ast per!ormance o! these plans is not indicative o! the !uture per!ormance o! the plan The sum invested in the !unds is subject to market risks and there can be no assurance that the objective o! the plans will be achieved. All bene!its payable under the policy are subject to the tax laws and other !inancial enactment1 as they exist !rom time to time

)EANIN& '( ULIP

A policy1 which provides !or li!e insurance where the policy value at any time varies according to the value o! the underlying assets at the time. 06&# is li!e insurance solution that provides !or the bene!its o! protection and !lexibility in investment. The investment is denoted as units and is represented by the value that it has attained called as ,et Asset -alue J,A-;.

0nit linked insurance plans

0nits in !unds

0nderlying investment

A ULIP st+u7tu+e 2oo-s 2i-e /s :o22oFs:

'ontribution

6ess charge

&nvestment represented as units

6i!e cover

(EATURES '( ULIP

06&# distinguishes itsel! through the multiple bene!its that it provides to the consumer. The plan is a one-stop solution providing: U 6i!e protection U &nvestment and .avings U (lexibility - Adjustable 6i!e 'over - &nvestment 3ptions U Transparency U 3ptions to take additional cover against - 4eath due to accident - 4isability - 'ritical &llness - .urgeries U 6i$uidity U Tax planning The two strong arguments in !avour o! unit-linked plans are: (irstly1 the investor knows exactly what is happening to his money .econdly it allows the investor to choose the assets into which he wants his !unds invested. An investor in a 06&# knows how much he is paying towards mortality1 management and administration charges. 7e also knows where the insurance company has invested his money. The investor gets exactly the same returns that the !und earns but he also bears the investment risk. The transparency makes the product more competitive. .o i! you are willing to bear the investment risks in order to generate a higher return on your retirement !unds 06&#s are !or you. Traditional KFit. ?+o:its= policies too invest in the market and generate the same returns prevailing in the market. But here the insurance company evens out returns to ensure that policyholders do not hold money in a bad year. &n that

sense they are sa!er. 06&#s also o!!er !lexibility. (or instance a policyholder can ask the insurance company to li$uidate units in his account to meet to mortality charges i! he is unable to pay any premium installment. This eats into savings but ensures that the policy will continue to cover his li!e. 06&# came into play in the @HIAs and became very popular in =estern /urope and Americas. The reason that is attributed to the wide spread popularity o! 06&# is because o! the transparency and the !lexibility which it o!!ers. 0nit- linked plans are a contemporary product: transparent and !lexible. &ndividuals have greater control over their investments. The popularity o! 06&#. stems !rom the !act that they o!!er customers integrated !inancial solutions with a transparent charge structure8. &n today s times1 06&# provides solutions !or insurance planning1 !inancial needs1 !inancial planning !or children s !uture and retirement planning. 0nit-linked insurance plans J06&#s; have become something o! a rage with their >promise> o! market-linked returns combined with the dual bene!it o! insuring your li!e !rom eventualities. 9.D do insu+e+s ?+e:e+ ULIPsG &nsurers love 06&#s !or several reasons. Most important o! all1 insurers can sell these policies with lesser capital o! their own than what would be re$uired i! they sold traditional policies. &n traditional KFit. ?+o:its= policies the insurance company bears the investment risk to the extent o! insured amount. &n 06&#s the policyholder bears most o! the investment risk. .ince 06&#s are designed to mobili%e savings1 they give insurance companies an opportunity to get a large chunk o! asset management business which has been traditionally dominated by mutual !unds. 06&#s are suitable !or individuals who are already ade$uately insured and are reasonably well-in!ormed and savvy to take active investment decisions by using the Vswitch option> that is provided to a 06&# policyholder. Also policyholders with regular endowment plans who are not satis!ied with the F-IO returns can consider taking a 06&# with a lower e$uity component. &t is best i! insurance-seekers tread the middle path and choose balanced plans Jwith about EA-IAO e$uity component;. &deally they need to avoid taking the aggressive @AAO e$uity 06&#1 which could needlessly expose their assets to market volatility. .o i! insurancesseekers*investors play their cards right1 they can make this marriage work.

9'R1IN& '( UNIT LIN1ED INSURANCE PLANS UNIT LIN1ED PLANS

SUPER S)ART 1ID
Sm/+t1id o!!ers an exclusive choice o! D education insurance plans: .mart9id ,ew 0nit-linked "egular #remium1 .mart9id ,ew 0nit-linked .ingle #remium and .mart9id "egular #remium. Take a look at the !eatures and bene!its o! each plan: @. .mart9id ,ew 0nit-linked "egular #remium .mart9id ,ew 0nit-linked "egular #remium is a unit-linked plan1 which enables you and your child to accumulate wealth by virtue o! the per!ormance o! the underlying market-linked instrument. Take a look at the !eatures o! the plan: P+emium: The minimum premium to be invested is "s. @A1AAA per annum. A!ter deducting premium allocation charges !rom the premium1 the remaining amount will be invested in a !und o! your choice. Sum Assu+ed: The minimum .um Assured that the policyholder can opt !or is Term W Annual #remium*G1 subject to a minimum o! "s @ 6ac Po2i7D te+m: The term o! the policy will be calculated as the di!!erence between your child>s current age and the age o! your child when the policy matures. )o+t/2itD, Po2i7D Administ+/tion 7./+Ees: These and other charges will be deducted !rom the units in the !und. G. .mart9id ,ew 0nit-linked .ingle #remium .mart9id ,ew 0nit-linked .ingle #remium works in much the same way as .mart9id ,ew 0nit-linked "egular #remium policy mentioned above. The only di!!erent !eature is the premium amount-you will be re$uired to pay only a single premium1 which starts at as low as "s. EA1AAA. Addition/2 (e/tu+es /nd Bene:its Common to A22 5 P2/ns

ReEu2/+ ?/Douts: As your child approaches key educational milestones such as @Gth standard or graduation exams1 he or she will receive regular payouts1 guaranteeing he or she continues to study1 no matter what the circumstance. De/t. Bene:it: 5our child will receive the .um Assured immediately1 should something happen to you. &'&'& #rudential will pay the remaining premiums1 ensuring your child continues to receive policy bene!its1 as always. In7ome Bene:it Ride+: 5ou can choose to add the bene!its o! this rider to your child>s education plan. .hould you depart be!ore your son>s or daughter>s education is

complete1 you child will receive @AO o! "ider .um Assured1 !or the balance term o! the policy. Add#on +ide+s: >Accidental 4eath and 4isability "ider> and >=aiver o! #remium "ider> ensure your child stays doubly protected1 at all times. 5ou can choose to add these to your child>s education policy. T/0 bene:its: #remiums you pay !or a .mart9id policy are eligible !or tax savings Xu*s NAJ';Y. Maturity and death bene!its are eligible !or tax exemptions Xu*s @AJ@A4;Y. D. .mart9id "egular #remium (lexible investment option: 'hoose the amount o! premium with which you wish to sa!eguard your child>s education. (2e0ib2e ?o2i7D tenu+e: The tenure o! the plan will be calculated as the di!!erence between your child>s current age and his or her age at which the policy matures. (2e0ib2e ?+emium o?tions: The premium will be calculated based on D !actors: .um Assured1 policy tenure and your age. &u/+/nteed bonus: A guaranteed bonus o! D.EO per annum is declared !or the !irst F premium paying years plus an annual vested bonus declared in subse$uent years.

6i!e6ink .uper

=ell-deserved !inancial incentives1 rewarding business pro!its and even ancestral money are precious amounts that you should invest immediately so they earn you potentially higher returns in the long run. &nvest in &'&'& #rudential>s 6i!e6ink .uper policy-a single-premium unit-linked policy

that works best !or investors who have in mind long-term !inancial goals1 such as the education o! a child or the purchase o! a larger home. Apart !rom the potentially higher returns that you can earn1 6i!e6ink .uper insures your !amily against mis!ortunes with its protective insurance cover. "ead more about the !eatures and bene!its o! this plan1 right away.

Li- Lin& Su/ r at a '!anc

Minimum*Maximum /ntry Age Maximum Age at #olicy Maturity Minimum #olicy Term Minimum .ingle #remium Minimum .um Assured Tax Bene!it A years to IE years PA years E years 0p to age FF: "s. GE1AAA1 age FE and above: "s. EA1AAA Annual #remium x Term*G. .ubject to a minimum o! "s. @1AA1AAA #remium payment up to GAO o! the .um Assured is eligible !or bene!it under .ec. NA'. Any amount paid to you will be eligible !or tax bene!its under .ec. @A J@A4; exemption1 i! premium paid in any year does not exceed GAO o! the .um Assured.

F atur s and + n -its o- Li- Lin& Su/ r

o?tions o: Sum Assu+ed: 'hoose to receive either @GEO or EAAO o! the single premium amount. (2e0ib2e ?o2i7D te+m: 4ecide how long you wish to invest in this policy. 5ou can invest !or a minimum o! E years and keep your investment growing !or as long as you wish a!ter that. P/+ti/2 Fit.d+/F/2 o: moneD: =ithdraw !unds in installments !rom the Fth year onwards.

Att+/7tiBe ?+emium /22o7/tion +/tes: /njoy @AAO allocation !or premium amounts e$ual to or greater than "s. E lacs. 4 inBestment :unds: .elect among (lexi-)rowth1 Maximiser1 (lexi-Balanced1 Balancer1 #rotector1 and #reserver1 based on your !inancial goals and risk pro!ile. SFit7. bene:it: .witch between !unds anytime to maximi%e on market movements. 5ou can switch !unds F times a year1 at no cost. (or subse$uent switches1 you will be re$uired to pay a switch !ee o! "s. @AA.

)/tu+itD bene:it: "eceive the (und -alue when your policy matures. 'hoose to take this value as a single lump-sum amount or in monthly1 bi-annual or annual installments spread over @ to E years. De/t. bene:it: 5our !amily receives the higher o! (und -alue or .um Assured should something happen to you.

W", Li- Ti# Su/ r

As an individual who desires a lot !rom li!e-a car1 a beauti!ul home and o! course1 the com!ort and contentment o! your !amily-you would undoubtedly want to plan your !inances such that you can take care o! all your re$uirements. &nvest in &'&'& #rudential>s 6i!eTime .uper policy-a regular-premium unit-linked policy1 which o!!ers potentially higher returns that systematically enable you to meet your long-term !inancial objectives. &n addition1 6i!eTime .uper also provides the protective bene!it o! an insurance cover1 which keeps your !amily secure1 always. "ead more about the !eatures and bene!its o! this plan.

Li- Ti# Su/ r at a '!anc

Minimum*Maximum /ntry Age Maximum Age at #olicy Maturity Minimum*Maximum #olicy Term #remium #ayment (re$uency Minimum #remium Minimum .um Assured Tax Bene!it JN; A years to IE years PE years @A years to PE years Monthly1 hal!-yearly1 yearly "s. @N1AAA per annum Annual #remium x Term*G. .ubject to a minimum o! "s. @1AA1AAA #remium paid !or the policy and critical illness bene!it rider will be eligible !or tax bene!it under .ec. NA' and NA4 respectively. Any amount paid to you will be eligible !or tax bene!its under .ec. @A J@A4; as per prevailing &ncome Tax laws.

F atur s and + n -its o- Li- Ti# Su/ r

(2e0ib2e ?o2i7D te+m: 4ecide !or how long you want your policy. 5ou can invest !or a minimum o! @A years and a maximum o! PE years.

5 7.oi7es o: ?+emium ?/Dment: 3pt to pay the premium on a monthly1 bi-annual or an annual basis. 4 inBestment :unds: .elect among (lexi-)rowth1 Maximiser1 (lexi-Balanced1 Balancer1 #rotector1 and #reserver1 based on your !inancial goals and risk pro!ile. SDstem/ti7 Fit.d+/F/2 o: moneD: =ithdraw money in installments !rom the Fth year onwards. )/tu+itD bene:it: "eceive the (und -alue when your policy matures. 'hoose to take this value as a single lump-sum amount or in monthly1 bi-annual or annual installments. De/t. bene:it: 5our !amily receives the higher o! (und -alue or .um Assured should something happen to you. SFit7. bene:it: .witch between !unds anytime to adjust your port!olio1 based on your goals and risk pro!iles. 5ou can switch !unds F times a year1 at no cost. (or subse$uent switches1 you will be re$uired to pay a switch !ee o! "s. @AA.

R'LE '( AN ADVIS'R IN UNIT LIN1ED INVEST)ENT PLANS

&t is important !or us to know that what is the role that an advisor will play. At &'&'& #rudential1 you are an advisor is to @. #rovide ongoing !inancial advice !or his*her clients: 5ou are an advisor and just like a lawyer or a doctor you advice the client about insurance and !inance. G. &denti!y !uture clients: 6i!e insurance is a business o! contacts an the advisor constantly need to know people so that his business expands. D. 'onstantly make appointments: 2ust making contacts will not be enough to develop a good li!e insurance business. F. Advisor needs to meet these contacts and thus should make appointments on constantly. E. 'onduct !inancial review meetings with prospects* clients: As an advisor it is necessary to meet with client not only !or the purpose o! selling but also to review the need o! the client and prospects. Many people would not be in !or li!e insurance today but as time moves they can be re$uiring one. .imilarly an existing client may also be in need o! more insurance as responsibilities and liabilities increase.

'lose sale: 0ltimately success is de!ined as sales. The advisor should lead each appointment towards a sale and close it e!!ectively where in the client is happy on purchasing the insurance solution and !eels satis!ied with it.

CHAPTER#@

RESEARCH )ETH'D'L'&Y
"esearch Methodology has many dimensions1 it include not only research methods but also considers the logic behind the methods used in the context o! the study and explains why only a particular method o! techni$ue had been used so that research lend themselves to pXroper evaluations. Thus in a way it is a written game plan !or concluding research there!ore in order to solve research problem it is necessary to design a research methodology !or the problem as the same may di!!er !rom problem to problem. "esearch design is the conceptual structure within which the research is conducted. &ts !unctions are to provide !or the collection o! relevant evidence with minimum expenditure o! e!!ort1 time and money. But1 how this can be achieved depends on the research purpose. &n my study the research purpose is exploratory study i.e. to gain !amiliarity with phenomena or to achieve new insights in it. MA"9/T "/./A"'7 4/.&), : 4escriptive type 4ATA .30"'/. "/./A"'7 A##"3A'7 "/./A"'7 &,.T"0M/,T T5#/ 3( Z0/.T&3,. .AM#6/ .&Q/ : #rimary source : .urvey method : Zuestionnaire : 'lose-ended : @AA samples

M34/ 3( '366/'T&,) 4ATA: "espondents to be chosen randomly. SA)PLE DESI&N: .ocial phenomenon being very vast1 it becomes impossible to contact each and every individual o! population due to limitation o! essential resources like time and money. There!ore1 the study is pre!erably narrowed down to a representative sample to make the study more manageable. Zuota sampling is adopted in the exploratory study. &t is a non-probability study in which various insurance players are taken.

SA)PLIN& UNIT: The data can be collected !rom primary sources. The basic premises o! my study are primary data but at the same time it is supplemented with the secondary data. .ampling unit is a unit which would be considered !or the purpose o! study to conduct the comparative study o! the &'&'& #rudential and other insurance companies with special re!erence to 0nit 6ink #lans. SA)PLIN& SIJE: &t re!ers to the number o! items to be selected !rom the universal1 to constitute a sample. To commence the study various insurance players are taken. H'9 DID I &' AB'UT THE PR'JECT:SA)PLE SIJE A sample si%e o! @AA customers was selected to do this project1 which was random sampling keeping in mind the basic criteria. (IELD 9'R1 The research was done !or a period o! G months in Jstudents1 government employee ? other; ambala. & started with )Y )AR1ET $!! and therea!ter & used to give cold calls !rom the company s database and i! seemed interested & take along with me the representatives o! the company !or !urther in!ormation gathering. @; StudD o: Se7ond/+D D/t/: The $uickest and the most economical way !or researchers to !ind possible hypothesis is to take the advantage o! the work done earlier and thus utili%e their e!!orts. G; In#de?t. Inte+BieFs: & used in-depth interviews because it attempts to in!luence respondents to talk !reely about their subject o! interest .A !ormal $uestionnaire was made and according to which the $uestions were asked to the respondents. B/si7 met.ods o: 7o22e7tinE P+im/+D D/t/: @; Luestionn/i+e )et.od: The $uestionnaire used by me !or the purpose o! data collection were o! structured type J,on-disguised;.

G; Cont/7t )et.od: &n order to derive in!ormation !rom the intended organi%ation1 it was elementary !or me to search !or a link which could enable me to conduct a research in that organi%ation.

'BJECTIVE '( THE STUDY The project undertaken by me as a part o! my .ummar Training o! M.B.A.course is an e!!ort made to study the 06&# policies and activities in &'&'& #"04/,T&A6 with special emphasis on unit linked products o! the company. &n this era o! cut throat competition1 any organi%ation needs to select and retain the best talent. #eople selected should have positive attitude1 ability to inspire others and must be dynamic.

T.e m/in obCe7tiBes o: t.is studD /+e: =orking o! 0nit linked &nsurance #lans .=3T analysis o! the product sold 'omparative study with the competitor. .tudy tax planning solutions available in the market. .tudy asset allocation through insurance plans. Market interphase.

CHAPTER#8

C')PARATIVE STUDY 9ITH THE C')PETIT'RS

LIST:
6i!eTime .uper -s 6&' Bima#lus

6i!eTime .uper -s Birla .un6i!e 'lassic 6i!e

6i!eTime .uper -s 74(' 6inked

#remier6i!e -s Bajaj Allian% 0nitgain #lus

LI(ETI)E SUPER VS LIC BI)APLUS

(e/tu+es Age Term .um Assured

Li:eTime Su?e+ LIC Bim/P2us A M IA years @G - EE years Minimum premium payment term o! Dyears @A years 'hoose your sum assured1 subject to Maximum limit upto "s. G lakhs a minimum sum assured o! "s. @ lakh -alue o! units JDrd year onwards;

.urvival bene!it

Bid -alue o! the !und units along with maturity bonus at EO

4eath bene!it

o! the .um Assured 7igher o! .um Assured or value o! 4eath during the !irst I months units. DAO o! .A T value o! units1 next I months - IAO o! .A T value o! units. 4eath a!ter @st year .A T value o! units. 4eath during the @Ath year - @AEO o!

.A T value o! units. =ithdrawal bene!it #artial or complete withdrawals are #remature withdrawal allowed available !rom the Drd year onwards 'ontribution (lexible contribution &nvestment options Minimum: "s. @N1AAA p.a. (lexibility to increase or decrease in a!ter one year Ja!ter applying bid-o!!er spread. ,ot speci!ied

contribution ,ot available Maximiser1 Balancer1 #rotector ? #reserver. Balanced1 .ecured ? "isk

&ncrease * 4ecrease Available. o! death bene!it Bonus units Top-up

,ot available

Available ,ot Available. Available. Minimum top-up o! "s. Available J'harges: @.EO o! the EAAA. 'harges - @O o! top-up. top-up; F !ree switches a year1 with the ,o !ree switches. 'ost o!

minimum switch amount being "s. switching is GO o! the !und .witch .urrender value GAAA. value. The policy will ac$uire a surrender #artial surrender up to EAO o! value a!ter D complete premium- bid value o! units allowed a!ter D paying years. The surrender value is years &nitial 'harge !rom date o! @AAO o! the value o! investments. commencement O Allocation o! the premium ,ot 4isclosed @NAAA- FH1HHH: @st year - NAOB Gnd year - HG.EO B Drd year onwards HIO. EAAAA and above: @st year - NGOB Gnd year - HG.EOB Drd year onwards Admin 'harge 3ther 'harges HIO. ,one ,ot applicable ,ot applicable ,ot applicable The annual administrative and !und management charge is G.GEO !or Maximiser1 G.GEO !or Balancer1 (und Management @.EAO !or #rotector ? A.PEO !or 'harges #reserver. @O o! the !und per annum

I(ETI)E SUPER VS HD(C LIN1ED (e/tu+es Age Term .um Assured Li:eTime Su?e+ HD(C Lin-ed A - IA years @N - IA years Minimum premium payment term o! @A - DA years Dyears 'hoose your sum assured1 subject to 3nly E1@A1 GA Jage-based;

a minimum sum assured o! "s. @ multiples are allowed as .um .urvival bene!it 4eath bene!it lakh Assured. -alue o! units JDrd year onwards; -alue o! units 7igher o! .um Assured or value o! 7igher o! .um Assured or value available

units. o! units. =ithdrawal bene!it #artial or complete withdrawals are #artial withdrawal available !rom the Drd year onwards

!rom the Drd year onwards1 provided that the -alue o! 0nits does not go below the .um

'ontribution (lexible contribution &nvestment options

Assured. Minimum: "s. @N1AAA p.a. Minimum: "s. @A1AAA p.a. (lexibility to increase or decrease in Available contribution. Maximiser1 Balancer1 #rotector ? E #reserver. (und 3ptionsBalancer1 .a!e

4e!ensive

Managed1

&ncrease * 4ecrease Available. o! death bene!it Bonus units Top-up .witch

Managed1 6i$uid ? )rowth ,ot available

Available ,ot available Available. Minimum top-up o! "s. Available EAAA. 'harges - @O o! top-up. F !ree switches a year1 with the .witches are !ree as o! now. But minimum switch amount being "s. the company reserves the right GAAA. to put a charge on the switches. The policy will ac$uire a surrender The surrender charge is GEO o! value a!ter D complete premium- D paying years. years outstanding regular premium. ,o charges a!ter D

.urrender value

&nitial 'harge

years O Allocation o! the premium 'harges @NAAA- FH1HHH: @st year - NAOB Gnd @st yr-GPO1 Gnd yr- GPO1 Drd yr year - HG.EOB Drd year onwards - onwards- @O

HIO. EAAAA and above: @st year - NGOB Gnd year - HG.EOB Drd year onwards Admin 'harge HIO. ,one Admin charges o! "s.@NA !ixed

charge per annum. 3ther 'harges ,ot applicable ,ot applicable (und Management The annual administrative and !und &nvestment charge o! A.NAO o! 'harges management charge is G.GEO !or the (und -alue across all the Maximiser1 G.GEO !or Balancer1 !unds. @.EAO !or #rotector ? A.PEO !or "ider #reserver. A4B"1 '&B" ? M.A" AB" ? '&B"

SUPER PRE)IER LI(E VS BAJAJ ALLIANJ UNIT&AIN PLUS (e/tu+es Age Term .um Assured .urvival bene!it 4eath bene!it Su?e+ P+emie+ Li:e B/C/C A22i/nH UnitE/in P2us @N - IA years A - IA years #remium paying term o! D years1 E Minimum premium payment years1 P years or @A years. term o! D years .um Assured multiple is @ - GE times Minimum .um Assured is E the annual premium -alue o! units times the premium paid. Anytime a!ter payment o! D

!ull year>s premiums. 7igher o! .um Assured decreased by 7igher o! .um Assured or

the amount o! withdrawals made or value o! units. value o! units =ithdrawal bene!it #artial withdrawals are available a!ter #artial or o! year 'ontribution (lexible contribution &nvestment options D years> premium. premiums. complete

the Drd policy year and a!ter payment withdrawals are available a!ter 'omplete the Drd years contribution withdrawals are available a!ter the @st 7owever surrender Minimum: "s. @A1AAA p.a. Available ? /$uity &ndex (und1 /$uity #lus (und1 4ebt (und1 Balanced (und1 'ash (und Available penalties will apply. Minimum: "s. IA1AAA p.a. Available Maximiser1 #reserver. 4ecrease in death Available. bene!it Bonus units Top-up .witch .urrender value Balancer1 #rotector

Available. ,ot available Available. Minimum top-up o! "s. Available. 'harge are GO o! EAAA. 'harges - @O o! top-up. the top-up amount F !ree switches a year. Three !ree switches every year. The policy will ac$uire a surrender =ithdrawals are only allowed value !rom the @st year onwards. a!ter payment o! D !ull year>s premiums O Allocation o! the premium @st year - PIOB HPO !rom year G onwards "s. IA.AAA - "s. F1HH1HHH: @st year: NPOB Gnd and Drd year: HIO "s. E1AA1AAA and above: @st year: NHOB Gnd and Drd year: HIO "# $ an% &' year premium payin !erm "s. IA.AAA - "s. F1HH1HHH: @st year: NNOB Gnd and Drd year: HPOB Fth and Eth year: HNOBIth year onwards: @AAO "s. E1AA1AAA and above: @st year: HAOB Gnd and Drd year: HPOB Fth and Eth year: HNOB Ith year onwards: @AAO Admin charge o! "s. IA * month

&nitial 'harges

O Allocation o! the premium 3 year premium payin !erm

Admin 'harge

Annual admin charges o! "s. GA

(und Management The annual investment charge is @.EAO @.EO p.a. !or a /$uity #lus 'harges !or Maximiser1 @.AAO !or Balancer1 (und1 @O p.a. !or /$uity &ndex A.PEO !or #rotector ? #reserver. (und1 ,o speci!ic charges in case o! Balanced (und1 A.PO p.a. !or 4ebt #lus (und and A.PO in case o! 'ash #lus "ider A4B" ? '&B" (und. AB"1 A4B"1 '& ? 7ospital 'ash Bene!it

STUDY TA> PLANNIN& S'LUTI'NS AVAILABLE IN THE )AR1ET

TA> BENE(ITS 'N INSURANCE AND PENSI'N 6i!e insurance and retirement plans are e!!ective ways o! saving taxes. The tax breaks that are available under various insurance and pension policies are described below: 6i!e insurance plans are eligible !or deduction under .ec. NA' #ension plans are eligible !or a deduction under .ec. NA''' 7ealth riders are eligible !or deduction under .ec. NA4 The proceeds or withdrawals o! li!e insurance policies are exempt under .ec @AJ@A4;1 subject to norms prescribed in that section. T/0 R/tes :o+ IndiBidu/2s T.e +/tes o: in7ome t/0 :o+ (Y !!6#!" /+e /s :o22oFs:

Tot/2 In7ome (Rs,%

Rate "f ta# Senio+ 7itiHen 9omen be2oF 48 ,il ,il ,il ,il GAO DAO De/+s ,il ,il @AO GAO GAO DAO

't.e+s ,il @AO @AO GAO GAO DAO

0pto "s @1AA1AAA*Above "s @AA1AAA*- to @FE1AAA*Above "s @FE1AAA*- to @EA1AAA*Above "s @EA1AAA*- to @HE1AAA*Above "s @HE1AAA*- to GEA1AAA*Above "s GEA1AAA*-

Su+7./+Ee on In7ome T/0: &n case where the Total &ncome exceeds "s @A1AA1AAA1 there would be a surcharge [ @AO. Edu7/tion Cess on In7ome T/0: /ducation 'ess [GO will be payable on the amount o! income tax Jincluding surcharge;. Bene:its unde+ insu+/n7e ?o2i7D # Se7tion $!($!D% As per .ection @AJ@A4; o! &ncome tax Act1 @HI@1 any sum received under a li!e insurance policy1 including the sum allocated by way o! bonus on such policy is exempt !rom tax. 7owever1 this rule does not apply to !ollowing amounts: .um received under .ection NA44 JD;1 or Any sum received under a 9eyman &nsurance #olicy1 or Any sum received other than as death bene!it under an insurance policy which has been issued on or a!ter April @ GAAD and i! the premium paid in any o! the years during the term o! the policy is more than GAO o! the sum assured.

CHAPTER#4

DATA ANALYSIS A (INDIN&S

$%, A+e Dou inte+ested in ?+odu7ts o::e+ed bD t.e ICICI PRUDENTIALG 5es ,o =ill think I@O GGO @PO

142

Y s No
332 012

Wi!! t"in&

INTERPRETATI'N The good thing is that atleast the corporates were $uite eager to !ind out what &'&'& #"04/,T&A6 has to o!!er whereas the major DH O o! the corporates were not even interested in the products as they are $uite satis!ied by the 6&' and they are not in breaking their long relationship with them. The private players will have to play a long battle in order to ensure that they are serious player in the market. Basically corporates think that its too early to invest in private companies as they have just entered the scene and they are unsure o! the security they will have about their investment.

%, A+e Dou s/tis:ied Fit. Dou+ ?+esent insu+e+G

5/. ,o

IEO DEO

652

Y s No
052

INTERPRETATI'N

7ere is where the challenge is. &nevitably most o! the players are very satis!ied with their present insurer which makes it more tough !or the private players to attract the corporates. The remaining DE O are also not very dissatis!ied by the services but they are just open to new avenues and are looking !orward that private companies come with good o!!ers so that they may shi!t to them. Thus private players will have to be very proactive and in this regard since 6&' is the leader and &'&'& #"04/,T&A6 is lagging behind its competitors in terms o! competition.

5%, 9.e+e Fou2d Dou 2i-e to insu+e i: EiBen 7./n7eG

6&' &'&'& BA2A2 A66&A,Q TATA A&) .B& 93TA9 MA7&,4"A

07 57
07

IA @A E @E N G

,3 3( #/3#6/

97 67 37 17 7
LIC S%I TATA AI$ ICICI

15 8 17 5 3

%AJAJ

:OTA: MA;IN<RA

'3M#A,&/. INTERPRETATI'N

Thus we see that the companies are com!ortable in having business with govt. owned companies as they !eel its sa!e ? secure to have business with them which is !ollowed by .B& as it is the biggest bank and then !ollowed by TATA A&) as the name TATA is associated with it which commands huge premium in the market . =hereas in the case o! &'&'& #"04/,T&A6 the !igures represent mediocre per!ormance a!ter compelling and coxing the corporates and creating a strong impression whether they !eel interested in doing business with the company.

@%, 9./t is ?eo?2e=s m/in 7on7e+n F.i2e t/-inE / insu+/n7e ?o2i7D (ULIP%G

A; .ecurity B; "eturns '; Tax rebate

FAO GNO DGO

1)* 0)* /)* .)* ()* )* S2CU3IT4 32TU3NS 6!CT73 T!5 32B!T2

*!G2

Series(

INTERPRETATI'N #eople invest in insurance mainly because o! security concern.

8%, A+e Dou /F/+e o: Li:etimeSu?e+ int+odu7ed bD ICICI P+udenti/2 2imitedG

5es ,o

ENO FGO

2A$E OF PEOPLE

9)* 8)* 0)* .)* )* 42S RESPONSE N7 Series(

INTERPRETATI'N

The awareness level among the corporate about &'&'& #"04/,T&A6 o!!ering services is very low and the company needs to work on it. Today is the world o! marketing thus it is recommended that company should become more media !riendly by advertising more through television channels1 radio1 newspapers1 maga%ines1 journals ?editorials.

CHAPTER#6

LI)ITATI'NS
The geographical area was very much limited to residential area ? so the results are not particularly re!lection o! the current behavior. Biases and non-cooperation o! the respondents. 4ue to limited time period and constrained working hours !or most o! the respondents1 the answers at times were vague enough to be ignored. Most o! the people in &ndia take their policies in the period preceeding MarchJ!or tax saving purposes; ? so the response to initial contacts were not all encouraging and that has been the primary reason in the inability to $uanti!y the results large enough so as to reduce any relevant outcomes. Most o! the results that are spelt out have been o! $ualitative aspects. #eople are not interested in giving personal opinion.

REC'))ENDATI'NS
More emphasis should be on promotional activities. #lenty o! advertisement should be done through T.-1 ,ewspaper and "adio as these media s are having maximum recall value. Total !inancial planning and advice should be given to every customer. More business opportunity seminars should be conducted to make people aware o! the o!!er given. The company should $uite !re$uently send their agent to the customer so that they should be aware o! the latest o!!er. The company should attempt to open more and more o! its branches in the country so as to promote their product publicity.

C'NCLUSI'N
6&' enjoys credibility over other private players in the industry #eople look !or security over returns in market linked plans .6i!etime is the most popular product among the people who are aware about &'&'& #rudential s products. #eople are now showing more interest in 06&# as compared to some o! the traditional plans. &'&'& #"04/,T&A6 has to counter the distribution network o! 6&' .The product pro!ile o! &'&'& #"04/,T&A6 is not very comprehensive

BIBL'&RAPHY

www.iciciresearchcenter.org www.tata-aig.com www.icicipruli!e.com www.personal!n.com

ANNE>URE
@. 4o you have any li!e insurance policies< 5es ,o

&! 5es: ,ame o! the 'ompany ,ame o! the plan Term o! plan ++++++++++++++++ +++++++++++++++++ +++++++++++++++++

Annual Amount o! premium +++++++++++++++++

@. Are you satis!ied with present insurer< A; 5/. G. A; .ecurity B; "eturns '; Tax saving 4; 3thers please speci!y+++++++++ D. Are you aware o! 0nit 6inked &nsurance #lans o!!ered by various companies in &ndia< A; &'&'& '; TATA A&) /; 6&' ); MAL ,/= 53"9 B; 3M 93TA9 MA7&,4"A 4; BA2A2 A66&A,Q (; .B& 7; B&"6A .0,6&(/ B; ,3 =hich are the main issues that you take into consideration while purchasing any li!e insurance policy<

F. 4o you know how a 0nit 6inked &nsurance #lan works< A; 5/. B; ,3

E. 'an you please highlight risk attached with them< A; 7&)7 B; M34/"AT/ '; 63= I. =hat is your perception about the 0nit link insurance plans1 are they give you a sense o! security< A; 5/. B; ,3 P. Are you aware o! 6i!etime pension plan introduced by &'&'& #rudential limited< A; 5/. B; ,3 N. &! you are given a choice1 which one you take: A; &'&'& '; TATA A&) /; 6&' A; (ewer premiums B; More returns '; 'omplementary gi!ts @A. Are you interested in buying products o! &'&'& #rudential< A; 5/. B; ,3 B; 3M 93TA9 MA7&,4"A 4; BA2A2 A66&A,Q (; .B&

H. =hat other plans or !lexibility you expect !rom &nsurance companies<