Bajaj Allianz

A
PROJECT REPORT
ON
“A STUDY OF STRATEGY AND FUNCTIONING OF

FIELD FORCES IN BAJAJ ALLIANZ”
BY
“BAJAJ ALLIANZ LIFE INSURANCE Co. Ltd.”
A Report submitted in the partial fulfillment of the requirements of PGDM

program.
Submitted to: - Submitted by:-

Prof. P.K. Agarwal Srikant Ramanujam
Director, IIMT Professional College, Roll. No. – MO9040
Meerut
IIMT PROFESSIONAL COLLEGE, MEERUT
IIMT PROFESSIONAL COLLEGE, MEERUT Page 1

COMPAMY CERTIFICATE

GUIDE CERTIFICATE

CANDIDATE’S DECLARATION
I do hereby declare that the piece of desertion report entitled “A Study Of Strategy
And Functioning Of Field Forces In Bajaj Allianz” has been prepared by me
Under the avid guidance and supervision of Mr. Madhukar Jee Madhu (Branch
Manager) Bajaj Allianz Life Insurance Limited, Gaya as a part fulfillment
Requirement of the Degree in Post Graduate Diploma In Management during the
session 2009-2011.To the best of my knowledge and believe, this is my own work and
has not been submitted any where earlier for any other degree.
DATE: SRIKANT RAMANUJAM

PLACE: MO9040

ACKNOWLEDGEMENT
“No man is indispensable but there are certain mortal without whom the quality
work suffers their guidance becomes important in acquiring quality results”.
I express my number of thanks to hon’ble, Mr. Madhukar Jee Madhu (Branch

Manager), who had given me the precious opportunity of accomplish my summer
training at Bajaj Allianz Life Insurance. Under his brilliant untiring guidance I
could complete the project being undertaken on the “A Study Of Strategy And
Functioning Of Field Forces In Bajaj Allianz.” successfully in time. His attention
and invaluable guidance have helped me in solving the problem involved in the work.
I would also like to thank the overwhelming support of all the people who gave me an
opportunity to learn and gain knowledge about the various aspects of the industry.
I would like to thanks Dr P.K.Agarwal (Director) and Ms. Swati Gupta (Project
Guide) of P.G.D.M. dept. for their constant encouragement and valuable suggestions
without which this project would not been successfully completed.
SRIKANT RAMANUJAM
Roll NO.-MO9040

PREFACE
As PGDM program is research report oriented, it frequents to the students a lot of
opportunities to gather first hand knowledge from industries of repute through study
of present working problems and its shuns, preventive measures and probable path of
future prospects. Research report gives the students the opportunities to gather
practical knowledge from the market, besides bookish knowledge. Likewise that
opportunity appeared before me and I had a thorough study of the mutual fund
industry in India.
SRIKANT RAMANUJAM
ROLL No.: MO9040

TABLE OF CONTENTS
S. No. CONENT PAGE NO.

1 DECLARATION I
2 ACKNOWLEDGEMENT II
3 PREFACE III
4 EXECUTIVE SUMMARY 1
5 OBJECTIVES 2
6 INTRODUCTION OF INSURANCE 3-4
7 SECTOR PROFILE 5-13
8 COMPANY PROFILE 14-45
9 INTRODUCTION OF TOPIC 46-48
10 RESEARCH METHODOLOGY 49-52
11 DATA ANALYSIS AND INTERPRETATIONS 53-62
12 FINDINGS 63
13 SUGGESTIONS AND RECOMMENDATIONS 64
14 CONCLUSION 65
15 LIMITATIONS 66
16 BIBILIOGRAPHY 67
17 ANNEXURE 68-79

EXECUTIVE SUMMARY
To maintain and cope up with the growing competition from the various Life
Insurance Companies, Bajaj Allianz needs to make new sales strategy and should
strengthen field forces.
This research Project was started with making to meet with the insurance care
consultants and seek information through questionnaire and in formal interview;
finally converting that leads into potential business. In the process I used to face a lot
of queries and arguments regarding the performance and sales promotion technique of
Life Insurance Company. To overcome this problem my project leader helped me to a
big stand by not imparting deep product knowledge and answers to the consultant’s
queries but also by giving his continuous encouragement, invaluable help and
guidance.
This conclusion drawn is based on the observations and facts collected from the
respondents and from the various sources of secondary data. As a whole, my efforts
were to give a consolidated picture for the study. I expect my work would at least act
as a source further scope to the company, with this I whole heartily hand over my
project hours to you.

OBJECTIVES OF THE STUDY
 To study the sales promotion strategy of field force of Bajaj Allianz Life
Insurance.
 To know about product and services offered by Bajaj Allianz Life Insurance
Company.
 To study the process of selling of Insurance Policies by Advisors.
 To know the view of advisors towards promotional tools.
 To know the proper working in the insurance sector.

INTODUCTION OF INSURANCE
Why is insurance necessary? The question contains the answer within itself. After all,
life is fraught with tensions and apprehensions regarding the future and what it holds
for the individual. Despite all the planning and preparation one might make, no one
can accurately guarantee or predict how or when death might result and the
circumstances that might ensue in its aftermath.
We are not saying that life and existence are constantly fraught with danger and
uncertainty. But then it is essential that you plan for the future. The chances for a
fatality or an injury to occur to the average individual may not be particularly high but
then no one can really afford to completely disregard his or her future and what it
holds.
People generally regard insurance as a scheme when and where you have to lose a lot
to gain a little. Nevertheless, insurance is still the most reliable tool an Sindividual can
use to plan for his future.
And just why is it necessary to plan for the future with Insurance?
AN OVERVIEW
Insurance business is divided into four classes:

1) Life Insurance business
2) Fire
3) Marine
4) Miscellaneous Insurance.
Life Insurers transact life insurance business; the rest is transacted by General
Insurers. No composites are permitted as per law.
The business of Insurance essentially means defraying risks attached to any activity
over time (including life) and sharing the risks between various entities, both persons
and organizations. Insurance companies (ICs) are important players in financial
markets as they collect and invest large amounts of premium.

Insurance products are multi purpose and offer the following benefits:
1. Protection to the investors
2. Accumulate savings
3. Channelize savings into sectors needing huge long term investments.
ICS receive, without much default, a steady cash stream of premium or contributions
to pension plans. Various actuary studies and models enable them to predict,
relatively accurately, their expected cash outflows. Liabilities of ics being long-term
or contingent in nature, liquidity is excellent and their investments are also long-term
in nature. Since they offer more than the return on savings in the shape of life-cover to
the investors, the rate of return guaranteed in their insurance policies is relatively low.
Consequently, the need to seek high rates of returns on their investments is also low.
The risk-return trade off is heavily tilted in favor of risk. as a combined result of all
this, investments of insurance companies have been largely in bonds floated by goi,
psus, state governments, local bodies, corporate bodies and mortgages of long term
nature. The last place where insurance companies are expected to be over-active is
bourses. Lately ics have ventured into pension schemes and mutual funds also.
However, life insurance constitutes the major share of insurance business. Life
insurance depends upon the laws of mortality and there lies the difference between
life and general insurance businesses. Life has to extinguish sooner or later and the
claim in respect of life is certain. in case of general insurance, however, there may
never be a claim and the amount can never be ascertained in advance. Hence, life
insurance includes, besides covering the risk of early happening of an event, an
element of savings also for the beneficiaries. Pension business also derives from life
insurance in as much as the pension outgo again depends upon the laws of mortality.
The forays made by insurance companies in this area are, therefore, natural corollary
of their business.

SECTOR PROFILE
INSURANCE IN INDIA
Insurance in India started without any regulations in the nineteenth century. It was a
typical story of a colonial era: a few British insurance companies dominating the
market serving mostly large urban centers. After the independence, the Life Insurance
Company was nationalized in 1956, and then the general insurance business was
nationalized in 1972. Only in 1999 private insurance companies were allowed back
into the business of insurance with a maximum of 26 per cent of foreign holding
(World Bank Economic Review 2000). The entry of the State Bank of India with its
proposal of bank assurance brings a new dynamics in the game. On July 14, 2000
Insurance Regulatory and Development Authority bill was passed to protect the
interest of the policyholders from private and foreign players.
The following companies are entitled to do insurance business in India. The private
insurance joint ventures have collected the premium of Rs.1019.09 crore with the
investment of just Rs.3, 000 crore in three years of liberalization. The private
insurance players have significantly improving their market share when compared to
50 years Old Corporation (i.e. LIC). As per the figures compiled by IRDA, the Life
Insurance Industry recorded a total premium underwritten of Rs. 10,707.96 crore for
the period under review. Of this, private players contributed to Rs.1, 019.09 crore,
accounting for 10 percent. Life Insurance Corporation of India (LIC), the public
sector giant, continued to lead with a premium collection of Rs.9,688.87 crore,
translating into a market share of 90 percent. In terms of number of policies and
schemes sold, private sector accounted for only 3.77per cent as compared to 96.23 per
cent share of LIC (The Economic Times, 21 March, 2004).

The ICICI Prudential topped among the private players in terms of premium
collection. It recorded a premium of Rs. 364.9 crore and a market share of 25 per cent,
followed by Birla Sun Life with a premium underwritten Rs.170 crore and a market
share of 15 percent, HDFC Standard with 132.7 crore and Max New York Life with
Rs.76.8 crore with a market share of approximately 15 per cent each.
Unlike their counterpart in the life insurance business, private non-life insurance
companies have not yet started addressing the retail market. All is set to change in the
coming years. Like in the banking sector, non-life insurance companies will soon
have no choice but to focus on individual buyers. In case of private non-life insurance
players, that their market share rose to 14.13 per cent, recording a growth of 70.75 per
cent on an annual basis, while the market share of public sector stood at 85.87 per
cent, registering a marginal growth of 6.34 per cent. The overall market has recorded
a growth of 12.32 per cent by the end of January 2004. Among the private non-life
insurance players, ICICI Lombard topped the list with a premium collection of
Rs.403.62 crore in one year period with a market share of 3.05 per cent and with an
annual 131.6 per cent, followed by Bajaj Allianz with a premium of Rs.385.02 crore
and 2.91 per cent market share and Tata AIG with 300.49 crore premium and 2.27 per
cent market share with an annual growth rate of 62.60 per cent. Among the public
sector players, New India garnered a market share of 24.38 percent, Rs.3,229.49 crore
premium and an annual growth rate of 0.38 per cent, followed by National with a
market share of 21.43 per cent, Rs.2,839.11 crore premium and an annual growth rate
of 19.88 per cent, United India with a market share of 19.47 per cent (Rs.2,578.83
crore premium) and Oriental with a market share of 18.25 per cent, Rs.2,417.17 crore
premium and an annual growth rate of 1.86 per cent. It is significant to note that
HDFC Chubb and Cholamandalam have registered annual growth rates of 4030.26
per cent and 1101.20 per cent respectively, whereas New India has registered it as
0.38 per cent. If this trend continues, private insurer would dominate the public sector
like New India Insurance Corporation. It is obviously reflect the insurance sector has
facing the challenges with foreign counter parties as well as private counter parties
and lot more opportunities are prevailing to penetrate the insurance business among
the uncovered people and area of India.
BRIEF HISTORY OF INSURANCE SECTOR IN INDIA
The insurance sector in India has come a full circle from being an open competitive
market to nationalization and back to a liberalized market again. Tracing the
developments in the Indian insurance sector reveals the 360-degree turn witnessed
over a period of almost 190 years.
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental Life Insurance Company in
Calcutta.
Some of the important milestones in the life insurance business in India are:
1912 - The Indian Life Assurance Companies Act enacted as the first statute to
regulate the life insurance business.
1928 - The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non-life insurance businesses.
1938 - Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.
1956 - 245 Indian and foreign insurers and provident societies taken over by the
central government and nationalized. LIC formed by an Act of Parliament, viz.
LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of
India. The General insurance business in India, on the other hand, can trace its roots to
the Triton Insurance Company Ltd., the first general insurance company established
in the year 1850 in Calcutta by the British.

Some of the important milestones in the general insurance business in India are:
1907 - The Indian Mercantile Insurance Ltd. set up, the first company to transact
all classes of general insurance business.
1957 - General Insurance Council, a wing of the Insurance Association of India,

frames a code of conduct for ensuring fair conduct and sound business practices.
1968 - The Insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.
1972 - The General Insurance Business (Nationalization) Act, 1972 nationalized the
general insurance business in India with effect from 1st January 1973.
107 insurers amalgamated and grouped into four companies viz. the National
Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental
Insurance Company Ltd. and the United India Insurance Company Ltd. GIC
incorporated as a company.

NON-LIFE INSURANCE MARKET
In December 2000, the GIC subsidiaries were restructured as independent insurance

companies. At the same time, GIC was converted into a national reinsurer.
In July 2002, Parliament passed a bill, delinking the four subsidiaries from GIC.
Presently there are 12 general insurance companies with 4 public sector companies
and 8 private insurers. Although the public sector companies still dominate the
general insurance business, the private players are slowly gaining a foothold.
According to estimates, private insurance companies have a 10 percent share of the

market, up from 4 percent in 2001. In the first half of 2002, the private companies
booked premiums worth Rs 6.34 billion. Most of the new entrants reported losses in
the first year of their operation in 2001.
With a large capital outlay and long gestation periods, infrastructure projects are
fraught with a multitude of risks throughout the development, construction and
operation stages. These include risks associated with project implementation,
including geological risks, maintenance, commercial and political risks. Without
covering these risks the financial institutions are not willing to commit funds to the
sector, especially because the financing of most private projects is on a limited or
non- recourse basis.
Insurance companies not only provide risk cover to infrastructure projects, they also
contribute long-term funds. In fact, insurance companies are an ideal source of long
term debt and equity for infrastructure projects. With long term liability, they get a
good asset- liability match by investing their funds in such projects.
IRDA regulations require insurance companies to invest not less than 15 percent of
their funds in infrastructure and social sectors. International Insurance companies also
invest their funds in such projects.

Insurance costs constitute roughly around 1.2- 2 percent of the total project costs.
Under the existing norms, insurance premium payments are treated as part of the fixed
costs. Consequently they are treated as pass-through costs for tariff calculations.
Premium rates of most general insurance policies come under the purview of the
government appointed Tariff Advisory Commitee. For Projects costing up to Rs 1
Billion, the Tariff Advisory Committee sets the premium rates, for Projects between
Rs 1 billion and Rs 15 billion, the rates are set in keeping with the committee's
guidelines; and projects above Rs 15 billion are subjected to reinsurance pricing. It is
the last segment that has a number of additional products and competitive pricing.
Insurance, like project finance, is extended by a consortium. Normally one insurer

takes the lead, shouldering about 40-50 per cent of the risk and receiving a
proportionate percentage of the premium. The other companies share the remaining
risk and premium. The policies are renewed usually on an annual basis through the
invitation of bids.
Of late, with IPP projects fizzling out, the insurance companies are turning once again
to old hands such as NTPC, NHPC and BSES for business.
RE-INSURANCE BUSINESS
Insurance companies retain only a part of the risk (less than 10 per cent) assumed by
them, which can be safely borne from their own funds. The balance risk is reinsured
with other insurers. In effect, therefore, re-insurance is insurer's insurance.
It forms the backbone of the insurance business. It helps to provide a better spread of
risk in the international market, allows primary insurers to accept risks beyond their
capacity, settle accumulated losses arising from catastrophic events and still maintain
their financial stability.

While GIC's subsidiaries look after general insurance, GIC itself has been the major
reinsurer. Currently, all insurance companies have to give 20 per cent of their
reinsurance business to GIC. The aim is to ensure that GIC's role as the national
reinsurer remains unhindered. However, GIC reinsures the amount further with
international companies such as Swissre (Switzerland), Munichre (Germany), and
Royale (UK). Reinsurance premiums have seen an exorbitant increase in recent years,
following the rise in threat perceptions globally.

LIFE INSURANCE MARKET
The Life Insurance market in India is an underdeveloped market that was only tapped
by the state owned LIC till the entry of private insurers. The penetration of life
insurance products was 19 percent of the total 400 million of the insurable population.
The state owned LIC sold insurance as a tax instrument, not as a product giving
protection. Most customers were under- insured with no flexibility or transparency in
the products. With the entry of the private insurers the rules of the game have
changed.
The 12 private insurers in the life insurance market have already grabbed nearly 9
percent of the market in terms of premium income. The new business premiums of the
12 private players have tripled to Rs 1000 crore in 2002- 03 over last year.
Meanwhile, state owned LIC's new premium business has fallen. Innovative products,
smart marketing and aggressive distribution. That's the triple whammy combination
that has enabled fledgling private insurance companies to sign up Indian customers
faster than anyone ever expected. Indians, who have always seen life insurance as a
tax saving device, are now suddenly turning to the private sector and snapping up the
new innovative products on offer.
The growing popularity of the private insurers shows in other ways. They are coining
money in new niches that they have introduced. The state owned companies still
dominate segments like endowments and money back policies. But in the annuity or
pension products business, the private insurers have already wrested over 33 percent
of the market. And in the popular unit-linked insurance schemes they have a virtual
monopoly, with over 90 percent of the customers.
The private insurers also seem to be scoring big in other ways- they are persuading
people to take out bigger policies. For instance, the average size of a life insurance
policy before privatization was around Rs 50,000. That has risen to about Rs 80,000.

But the private insurers are ahead in this game and the average size of their policies is
around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than the industry average.
Buoyed by their quicker than expected success, nearly all private insurers are fast
forwarding the second phase of their expansion plans. No doubt the aggressive stance
of private insurers is already paying rich dividends. But a rejuvenated LIC is also
trying to fight back to woo new customers.

COMPANY PROFILE
Bajaj Allianz Life Insurance Co. Ltd. is a 74:26 joint venture between two leading
conglomerates- , Bajaj Finsery Limited (recently demerged from Bajaj Auto Limited)
and Allianz SE, one of the world's largest insurance companies, leading by Mr.
Kamesh Goyal, MD & CEO, Bajaj Allianz Life Insurance.
Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto,
trusted for over 55 years in the Indian market, together are committed to offering you
financial solutions that provide all the security you need for your family and yourself.
Bajaj Allianz today has a countrywide network connected through the latest
technology for quick communication and response in over 200 towns spread across
the length and breadth of the country. From Surat to Siliguri and Jammu to
Thiruvananthapuram, all the offices are interconnected with the Head Office at
Pune. Bajaj Allianz today has a network of 142 offices spread across the length and
breadth of the country.
VISION
 To be the first choice insurer for customers

 To be the preferred employer for staff in the insurance industry.
 To be the number one insurer for creating shareholder value

MISSION
As a responsible, customer focused market leader, we will strive to understand

the insurance needs of the consumers and translate it into affordable products
that deliver value for money. Bajaj Allianz Life Insurance offers technical
excellence in all areas of Life Insurance as well as Risk Management. This
partnership successfully combines Bajaj Finserv’s in-depth understanding of the
local market and extensive distribution network with the global experience and
technical expertise of the Allianz Group.
ACHIVEMENTS
Bajaj Allianz has received “iAAA rating, from ICRA Limited, an associate of
Moody’s Investors Services, for Claims Paying Ability.This rating indicates
highest claims paying ability and a fundamentally strong position.
Bajaj Allianz General Insurance has received the prestigious “Business Leader in
General Insurance”, awarded by NDTV Profit Business Leadership Awards
2008. The company was one of the top three finalists for the year 2007 and 2008
in the General Insurance Company of the Year award by Asia Insurance Review.

7 P’S OF MARKETING OF BAJAJ ALLIANZ LIFE
INSURANCE
1. PRODUCTS AND SERVICES:

Bajaj Allianz Life Insurance Company Ltd. offers a range of insurance products
to its clients. The following insurances are offered by the company:
Individual Products
1. UNITGAIN
2. RISK CARE
3. TERM CARE
4. INVESTGAIN
5. LIFETIME CARE
6. CHILDGAIN
7. LOAN PROTECTOR
8. CASHGAIN
9. KEYMAN INSURANCE
10. SWARNA VISHRANTI
11. UNITGAIN PLUS
12. LIFELONG GAIN PLAN
13. RIDERS UNITGAIN PLUS
14. MAHILAGAIN RIDER
15. UNITGAIN EASY PENSION
16. UG PREMIER
Group Plans
1. GROUP CREDIT SHIELD
2. GROUP TERM LIFE
3. GROUP TERM LIFE SCHEME
4. GROUP SUPERANNUATION SCHEME
5. GROUP GRATUITY CARE SCHEME
2. PRICE:

The price structure is based on the type of policies. The price variation has to be
kept due to intense competition among private players. Pricing element is very
important for Bajaj Allianz as they want to increase market share. The price of
Bajaj Allianz policies are made as per keeping the customer in mind.
3. PLACE:
3rd Floor, 349 Business Point,
Western Express Highway Road,
Andheri(E).
The locations of every corporate offices of Bajaj Allianz are magnificent. They
locate themselves in a very professional manner. This indicates their corporate
approach towards their work. Work culture is also conducive to such environment.
4. PROMOTION:
Huge advertisements on Television and radios.
Tele-marketing
Promotion in front of corporate offices
Internet Marketing
Hoardings and brochures
5. PEOPLE:
People are the main assets of financial organization because of service factor
attached to it. Here in this case of insurance business, talented and experienced
personnel are required. Bajaj Allianz recruits highly intellectual persons with good
market knowledge. They also provide training to brief them up about Bajaj Allianz
to its new staff members. This is the reason they are No.1 position in General
Insurance among private players. They create an emotional commitment and strong
two-way relationship between the employees and the Company.
To have clear performance expectations and a clear return from the Company
(working environment, development, reward, career opportunities etc), which helps
employees to make a connection between their contribution and the progress made
by the Company.
To inspire and empower people to achieve their best and reward them competitively
for their contribution and provide attractive career opportunities.To build a learning
culture which fosters personal development and professional mobility and upholds
values of professionalism,innovation, pragmatism, team spirit, integrity.To respect
and value individuals, their diversity and support them in their need to balance
professional and personal lives.
6. PROCESS:
The prestigious awards itself speaks the smooth functioning of the insurance
activities. They have the highest claims paying ability and a fundamentally strong
position. They want to be the first choice for insurers in the country. So, they
understand the insurance needs of the customers and translate it into affordable
products that deliver value for money.
7. PHYSICAL EVIDENCE:
Physical evidence is the material part of a service. Strictly speaking there are no
physical attributes to a service, so a consumer tends to rely on material cues. There
are many examples of physical evidence, including some of the following:
a) Business cards
b) Internet / Websites
c) Furnishings
d) Bajaj Allianz Building in Pune
e) Internal Infrastructure
Bajaj Allianz Life Insurance

· Is the fastest growing private life insurance company in India?
· Currently has over 3,00,000 satisfied customers
· We have customer care centers in 155 cities with 28000 Insurance Consultant
providing the finest customer service.
· One of India's leading private life insurance companies
Accelerated Growth
Fiscal Year No. of policies sold New Business in FY

2001-2002(6mths) 2,137 Rs.7 cr
2002-2003 1,15,965 Rs.63.3 cr
2003-2004 1,86,443 Rs.180 cr
2004-2005 2,88,189 Rs.857 cr
2005-2006 7,81,685 Rs.2,717 cr
2006-2007 20,79,217 Rs.4,302 cr
2007-2008 37,44,742 Rs.6,674 cr
2009-2010 54,09,675 Rs.8,043 cr
Bajaj Allianz bucks the trend with Rs50 cr profit
Bajaj Allianz Life Insurance Co. Ltd posted a profit of Rs.50 cr in the fiscal end
march
Avni Raja/CNBC-TV18

Mumbai: India third largest private life insurer, Bajaj Allianz life Insurance Co. Ltd,
has posted a profit of Rs.50 crore in the fiscal end march even as rivals posted a
consolidated loss of at least Rs.4000 crore.
The rivals include ICICI Prudential Life Insurance Co. Ltd, Reliance Life insurance
Co. Ltd, HDFC Standard Life Insurance Co. Ltd, SBI Life Insurance Co. Ltd and
Birla Sun Life Insurance Co.
PRODUCTS

Bajaj Allianz brings to you several innovative products, the details of which you can
browse in this section.
TERM CARE
This plan not only offers you life insurance cover at a low cost, but also provides for
return of premium on maturity. The premium returns at maturity will be equal to the
single premium or the sum total of equivalent annual premium of the Economy Pack
(excluding extra premium charged if any). In case of pre-maturity death during the
policy term, the full sum assured will be paid to the nominee.
The Bajaj Allianz “Term Care” plan offers you the convenience of choosing
between two premium payment options:
1. Regular Premium Payment: - Premium payment throughout the selected
term.
2. Single Premium Payment: - One time premium payment for the selected
term at commencement.
Apart from covering the risk of natural death, this plan also provides you the
option to choose up to 5 additional benefits. You can select a specific combination
of additional benefits best suited to your needs, available in 4 attractive forms:
 Economy: - This is the basic plan, which is available for both the regular
and single premium payment options.

 Protect: - This package comes with the following 3 in-built additional
benefits:
 Accidental Death Benefit
 Accidental Permanent Total/Partial Disability Benefit
 Waiver Of Premium Benefit
The protect pack is available with the regular premium
payment option only.
 Health: - This pack comes with the following 2 in-built additional benefits:
 Critical Illness Benefit
 Hospital Cash Benefit
The health pack is available with the regular premium payment option only.
 Total: - This pack comes with the following 5 in-built additional benefits:
 Accidental Death Benefit
 Accidental Permanent Total/Partial Disability benefit
 Waiver Of Premium Benefit
 Critical Illness Benefit
 Hospital Cash Benefit
The total pack is available with the regular premium payment option.
UNIT LINKED INSURANCE PLAN

UNIT GAIN PLUS
With Bajaj Allianz Unit Gain SP you can invest in one life insurance plan that can
take care of all your changing requirements throughout your life. This plan has been
designed to provide you maximum flexibility, so that you do not have to worry about
your changing needs.
This policy offers you the unique option of combining the protection of life-insurance
with the attractive prospect of investing insecurities. You can choose the investment
funds where you want to invest your money, providing you with an opportunity to
have a direct stake in the performance of the financial markets. It also benefits
attractive tax advantages and can protect your loved ones against unfortunate events.
The five funds offered are as under:-
1. Equity Fund- This fund provides the scope of high appreciation over a long
term. The fund will primarily invest in equities and is expected to match
returns given by NSE NIFTY. This fund will invest at least 90% in equities &
maximum 10% in cash.
2. Equity Gain Fund- The investment objective of this fund is to provide capital
appreciation through investment in selected equity stocks that have the
potential for high capital appreciation. This fund will invest at least 90% in
equities & maximum 10% in debt & cash instrument.

3. Debt Fund- This fund provides the scope for steady returns at low risk
through investment in high quality fixed income securities. This fund will be
invested fully in debt instruments.
4. Balanced Fund- The balanced fund is primarily for those who prefer a nix of
steady returns & growth. The balanced fund will invest 30% to 50% in the
equity fund and 50% to 70% in the debt fund.
5. Cash Fund- The cash fund will invest conservatively in money market &
short term investment to ensure that return on investment shall never be
negative. 100% of this fund will be invested in money market instruments.
Key Features: -
 Guaranteed death benefit.
 Choice of 5 investment funds with flexible investment management
that you can change at any time.
 Attractive investment alternative to fixed interest securities.
 Convenient single premium payment, with option to pay top-ups later.
 100% of the single premium/ top-ups are allocated.
 Provision for full/partial withdrawals any time after the single
premium is paid.
The 5 funds available for investment are:
1. Liquid Pension Fund: - The investment objective of this fund is to have a

fund that protects invested capital through investment in liquid money market
and short-term instruments.
2. Bond Pension Fund: - The investment objective of this fund is to provide
accumulation of income through investment in high quality fixed income
securities.

3. Equity Growth Pension Fund: - The investment objective of this fund is to
provide capital appreciation through investment in select equity stocks that
have the potential for capital appreciation.
4. Equity Index Fund II: - The investment objective of this fund is to provide
capital appreciation through investment in equities forming part of NSE
NIFTY.
5. Accelerator Mid-Cap Pension Fund: - The investment objective of this fund
is to achieve capital appreciation by investing in a diversified basket of mid-
cap stocks and large cap stocks.
6. Asset Allocation Pension Fund: - The investment objective of this fund will
be to realize a level of total income, including current income and capital
appreciation, which is consistent with reasonable investment risk. The
investment strategy will involve a flexible policy for allocating assets among
equities, bond and cash. The fund strategy will be to adjust the mix between
these assets classes to capitalize on the changing financial markets and
economic conditions. The fund will adjust its weights in equity, debt and cash
depending on the relative attractiveness of each asset class

UNIT GAIN PLUS ‘GOLD’
This plan takes care of your insurance and investment requirements for life. This plan
has formulated a unique combination of protection and prospects of attractive returns
with investment in various mix of securities to make a perfect plan to last you a
lifetime of prosperity and happiness. Premiums paid by you, net of premium
allocation charge, are invested in funds of your choice and units are allocated
depending on the unit price of the funds. The value of your policy is the total value of
units that you hold in the funds. The insurance cover charges, policy administration
charges and the additional rider benefit charges (if any) are deducted through monthly
cancellation of units. Fund Management Charge is priced in the unit value.
Minimum Sum Assured = 5 times Annualized premium, OR half of the Policy

Term times Annualized Premium, whichever is higher.
Bajaj Allianz offers you a choice of six investment funds as given below:
1. Asset Allocation Fund: - The investment objective of this fund will be to
realize a level of total income, including current income and capital
appreciation, which is consistent with reasonable investment risk. The
investment strategy will involve a flexible policy for allocating assets among
equities, bonds and cash.
2. Liquid Fund: - The investment objective of this fund is to have a fund that
protects the invested capital through investments in liquid money market and
short-term instruments.
3. Bond Fund: - The investment objective of this fund is to provide

accumulation of income through investment in high quality fixed income
securities.

4. Equity Growth Fund: - The investment objective of this fund is to provide
capital appreciation through investment in selected equity stocks that have the
potential for capital appreciation.
5. Equity Index Fund II: - The investment objective of this fund is to provide
capital appreciation through investment in equities forming part of NSE
NIFTY.
6. Accelerator Mid-Cap Fund: - The investment objective of this fund is to

achieve capital appreciation by investing in a diversified basket of mid-cap
stocks and large cap stocks.
Key Features: -
 Guaranteed life cover, with a flexibility to choose insurance cover
according to your changing needs.
 Presenting a unique investment ‘Asset Allocation Fund’ wherein you
have not to worry to switch funds in case market condition changes.
 A host of optional additional rider benefits which includes assurance to
your family with family income benefit and waiver of premium
benefit.
 Flexibility of partial withdrawals at any time after three years from
commencement of the policy provided three full years premiums are
paid.

TRADITIONAL PLANS
INVEST GAIN
It takes only a moment promises and a lifetime to keep them. Keeping promises made
to your loved ones is not just a responsibility, but a commitment that you have to live
up to. When you promise to see your family through thick and thin you need to make
sure that you have planned for all the eventualities that may befall on them. You need
to be prepared that even if there ever is an instant that you are not there with them you
have saved enough to see them through their entire life. We understand this need,
which is why we have developed BAJAJ ALLIANZ’s INVESTMENT GAIN, the
plan that helps you in saying “My family ,May you always be happy!”
You can select the unique family income benefit from Bajaj Allianz that ensures total
financial protection for your loved ones. In case of death or accidental total permanent
disability, a guaranteed monthly income of 1% of the sum assured (12% per annum)
is paid till the end of the policy term or at least for a period of 10 years, whichever is
higher. Moreover, all future premiums are waived.
You have the option to add the following additional benefits, providing total
protection against uncertainties.
 Family income benefit (FIB) - as already described.
 Comprehensive Accident Protection- This benefit provides comprehensive
cover in case of the accident. It comprises of:-

i. Accidental death benefit- Accidents are always sudden and
sometimes fatal. You cannot lessen the emotional shock, but you can
certainly soften the financial one. Bajaj Allianz Accidental death gives
the ones something to start with after the permanent loss of income by
paying an amount equal to the Sum Assured. (Subject to a maximum
of Rs.5000000/- under all policies with Bajaj Allianz taken together).
ii. Accidental Permanent Total/Partial disability Benefit- Accidents

are unpredictable, and so are the consequences. This benefit provides a
financial cushion against such misfortunes. You will get 50% of the
Sum Assured in case of partial disability and 100% in case of total
disability.
 Waiver of Premium Benefit- An accident may lead to permanent total

disability, limiting one’s ability to earn. Bajaj Allianz Waiver of premium
benefit is a helping hand when one needs it most. It waiver of all future
premium while keeping the valuable life insurance cover alive, thus enabling
you to live up to your commitments.
 Critical Illness benefit (CI) - Some illness is critical. They not alter one’s
life’s pattern but also result in a financial drain. Bajaj Allianz critical illness
benefit softens the impact on the family by paying out the critical illness
benefit under the plan immediately, while other policy benefit continues.
 Hospital Cash Benefit (HC) - The worry of setting hospital bill (room
charges) adds to the trauma of hospitalization. Bajaj Allianz Hospital Cash
Benefit this financial burden and helps recovery with peace of mind.

At Bajaj Allianz, we believe in offering benefits and not adjust products. We realize
that you are unique and your needs for insurance vary with time. We therefore offer
you the flexibility of inclusion of coverage and exclusion of coverage at each policy
anniversary, subject to conditions relating to such inclusion and exclusion.

LIFE LONG GAIN
The Bajaj Allianz Life Long Gain Plan comes with a host of features to allow you
to have the best of all words-regular income for you and the added benefit of
providing for your loved ones too. This is the perfect plan to take care of ongoing
and future family expenses like debts, expenses on children etc. It can also take
care of unforeseen expenses like accidents, illness etc.
The premiums paid are invested in the Life Long Gain fund & units are allocated
depending on the offer price of units for the fund. The value of your policy is the
bid value of units that you hold in the fund. The life insurance cover charges are
deducted monthly cancellation of units, the fund administration charges and fund
management charges are priced in the unit value.
Benefits Available Under This Plan Are:
 Death Benefit: In case of unfortunate death the beneficiaries are entitled to
the greater of:
i. Sum Assured less partial withdrawals
ii. The bid value of units. If the age of the insured person is less than 7 or
above 70, then the bid value of units is paid.
 Guaranteed Survival Benefits: Guaranteed Survival Benefits are available
under this policy. Bajaj Allianz Life Insurance will pay, by cancellation of
units in the account of the policy, 3% of the Sum Assured every year after the
premium payments are over till the termination of the policy.
 This guaranteed amount is payable every year provided all premiums have
been paid and no partial withdrawals are affected. If any partial withdrawal
were made, the guaranteed survival benefit would be 3 % of (Sum Assured
less partial withdrawals) for the subsequent policy every years, if the partial
withdrawals made are equal to the Sum Assured, then the guaranteed survival
benefit will become nil, and funds in the account will be available to you for
full/ partial withdrawals as and when you need them.

 Maturity Benefit: On the life assured attaining age 1000, the bid value of
units in the fund will paid out and the policy will terminate.
 Full Withdrawal: Life Long gain offers you the flexibility of full withdrawal
by surroundings all your units, anytime after 3 full years premiums paid. The
full withdrawals are paid out at the bid value of units. On full withdrawal, the
policy will terminate.
 Partial Withdrawal: Life Long gain allows you to make partial withdrawals
anytime after all the premiums are paid. This gives you the liquidity and the
options to take out additional money aver and above the guaranteed survival
benefit, as and when required. In case of partial withdrawal, a minimum
balance of Rs.10000 at the bid value of units must be maintained, and the
minimum withdrawal amount is Rs.1000. In case of a partial withdrawal, the
subsequent guaranteed survival benefit will be 3% of Sum Assured less partial
withdrawal made.
Key Features: -
 Guaranteed death benefit
 Whole life protection with only 10 or 15 years of contribution.
 Guaranteed survival benefit that pays 3 % of the Sum Assured every year
after the premium payment are over
 Provision for full and partial withdrawals

CHILD GAIN
Are your children destined for greatness? Will they devise the universal currency or
solve the problem of global warming? Will they make music we never heard before or
keep shattering records in sports? Your child can aim for the highest echelons of
success, for greatness, and immortal fame. Your child can dream. But your does you
must.
Taking care of a child is perhaps the most important job a parent can have. It is but
natural that you would like to give your child your best and therefore this is the time
when careful financial planning can help you fulfill the aspiration that you have for
your children.
Bajaj Allianz Child Gain offers a wide array of solutions that allows you to plan your
child’s future providing you with as many as 4 distinct and unique options: -
 Option 1: Child Gain 21
 Option 2: Child Gain 24
 Option 3: Child gain 21 plus
 Option 4: Child gain 24 plus
Common features in the 4 options of Bajaj Allianz Child Gain Plan are: -
1. Limited premium term which means that the premium are payable till your
child attains the age on 18 years.
2. Your contributions grows by the way of compounded annual bonus which will
be paid to you with the first guaranteed payout (policy anniversary following
age 18 of your child) for in force policy, in addition to the terminal bonus may
also be paid.
3. You are also eligible for tax benefit under sec 80C and sec 10D of the income
tax act.

4. Assuring your child’s future: in an uncertain world. The prime interest of your
child cannot be jeopardized in any way.
In Built Benefits: -
 Waiver of Premium Benefit
 Family Income Benefit
 Start of Life Benefit

SAVE TAX
The following sheet contains the information in a very brief, Such a brief note is ok
from the point of general awareness. But when it comes to actual application one
needs to have indepth and up to date knowledge.
Application of Income Tax provisions involves the application of Income Tax Act,
the Rules made thereunder for valuations and formats for furnishing the information,
various clarifications and circulars issued from time to time. Some times a reference
has to be made to the case laws, Industry practices. A wrong claim can lead to default
, interest , penalty etc.
I have made my best attempts to bring the summary from the above together and
presented it in easy to understand format.
WRITEUP ON TAX
As we all near the end of the financial year 2009-10, we start to worry about planning
our investments to ensure maximum tax savings. The fear of finishing and furnishing
our Income Tax details, and filing the IT returns on time engulfs us. We either rush to
our CA’s, or start bothering the income tax personnel within our organization to
understand what is it that we can do to save the maximum amount of Tax.
Knowing and learning about Income Tax is not as difficult as it seems. If we know all
applicable sections and deductions correctly, there is a possibility we will save the
money that we pay to our CA’s.
Through this booklet our aim is to help you understand Income Tax and the related
laws better. Our motto would be to talk in your language and make Income Tax
planning more interesting and much simpler to understand.

Various Sections relating to Income Tax
As per The Income Tax Act 1961, amended in 2008, there are 9 major sections that
we need to understand:
Section 80C: One of the most important sections under the act. This section allows
investments up to a maximum of Rs. 1,00,000 under various instruments. These
instruments range from Tuition Fee for your child’s education to investments in
Public Provident Fund.
Section 80C: Deduction for Investments including Life Insurance and Provident
Fund.
Section 80C was inserted from assessment year 2006-2007. It provides deductions
from gross (total) income for qualified amounts paid or deposited by the assessee in
the previous year.
Main Provisions:
 The deduction is available only to an individual or a HUF from the gross total
income,
 The deduction is allowed irrespective of whether such amount is paid or
deposited by the taxpayer out of his income chargable to tax,
 The deduction is available on the basis of specified qualifying
investments/contributions/payments made by the taxpayer during the previous
year,
 The maximum amount deductible under section 80C is Rs. 1,00,000. Also the
total amount of deductions under sections 80C, 80CCC and 80CCD is Rs. 1,
00,000.

Gross Qualifying Amount for the Deduction:
Following nature of payments are qualifying amounts:
 Life insurance premium (Bajaj Allianz Life Insurance)on the life of self,
spouse or child or a member of HUF subject to a maximum of 20 per cent of
sum assured,
 Payment in respect to non-commutable deferred annuity plan taken in the
name of self, spouse or child,
 Deferred annuity deducted from Government employee (subject to maximum
of 20 per cent of salary),
 Contributions (not the repayment of loan) towards statutory provident fund
and recognized provident fund,
 Contribution towards an approved superannuation fund,
 Subscription to National Saving Certificates, VIII Issue,
 Contribution to ULIP (unit-linked insurance plan) of Unit Trust of India and or
LIC Mutual Fund,
 Payments for notified annuity plan of LIC.
 Subscription towards notified units of Mutual Fund,
 Contribution to notified pension fund set up by Mutual Fund,
 Any sum paid (and accrued interest) as subscription to Home Loan Account
Scheme of National Housing Bank or contribution to any pension fund of
National Housing Bank, (AT present Not available)
 Any sum paid as subscription to any scheme of public sector company
engaged in providing longterm finance for purchase/construction of residential
houses or from the housing board in India engaged in planning and
development of cities.
 Any sum paid as tuition fees for the admission or otherwise to any
university/college/educational institution in India for full time education for
any two children of the taxpayer.

 Any payment towards the cost of construction/purchase of residential property
including payment of loan taken from Government bank, cooperative bank,
LIC, National Housing Bank, taxpayer's employer where such employer is a
public company, public sector company, university or cooperative society,
 Amount invested in approved debentures of, and equity shares in, a public
company engaged in infrastructure including power sector or units of mutual
fund utilised for infrastructure,
 Amount in fixed deposits of 5-years or more with a scheduled bank in
accordance with a scheme framed and notified by the Central Government
(applicable from assessment year 2007-2008),
 Subscription to any notified bonds of National Bank for Agriculture or Rural
Development (applicable from assessment year 2008-2009),
 5-year time deposit in an account under Post Office Time Deposits Rules
1981, and
 Deposit in an account under the Senior Citizen Saving Scheme Rules, 2004.
Minimum Period of Holding:
 Unit-linked Insurance Plan -- 5 years,

 Life Insurance Premium -- 2 years
 Cost of construction or purchase of residential property -- 5 years
 Time deposit in Post Office Rules, 1981 -- 5 years
 Senior Citizen Saving Scheme Rules, 2004 -- 5 years.
Section 80CCC: Retirement planning had never been so lucrative before. You can
now save up to Rs. 1, 00,000 for your retirement every year. The earlier cap of Rs.
10,000 has now been removed. But the only point that we need to keep in mind is that
we cannot avail of tax benefits for more than Rs. 1, 00,000 under Sec 80C and
Sec80CCC combined.

Main Provisions:
 The deduction is available to an individual who is resident or non-resident,

Indian citizen or foreign citizen
 The deduction is allowed only if such amount is paid or deposited by the
taxpayer out of his income chargeable to tax,
 The maximum amount deductible under section 80C is Rs. 1, 00,000. Also the
total amount of deductions under sections 80C, 80CCC and 80CCD is Rs. 1,
00,000.
 Surrender value received is taxable in the year of receipt in the hands of the
assessee or nominee.
 If deduction is claimed under 80CCC, pension received will be taxable in the
hands of assessee or the nominee in the year of receipt.
Section 80D:. Health Insurance premiums paid for insuring your own health, or that
of your spouse, parents and children also allows you to avail of tax rebates. The
maximum amount that you can claim under this section is Rs. 35,000: Rs. 15,000 for
self, spouse and dependent children, and Rs. 15,000 for your parents. In case your
parents are senior citizens, the limit goes up to Rs. 20,000.
Eligible Assesses: Individual and Hindu Unified Families (HUF) only

Scope: Premium paid under:
 Medical insurance scheme of The General Insurance Corporation approved by

the Central Government, or
 Any other insurer approved by the Insurance Regulatory & Development
Authority (IRDA)

Mode of Payment:
Any mode of payment is accepted including payments made through credit cards,
except cash.
Deduction:
 For non-senior citizens: The amount of mediclaim insurance premium paid

or Rs. 15000, which ever is less
 For Dependent Parent The amount of mediclaim insurance premium paid or
Rs. 15000, which ever is less
 For senior citizens: The amount of mediclaim insurance premium paid or Rs.
20000, whichever is less.
Scope of Coverage:
 For an individual: Insurance paid on the health of an assessee, spouse,

dependant parents, and dependent children
 For a HUF: Insurance on the health of any family member

Section 80DD: Any expenses incurred on the treatment of a handicapped dependent
fall under this section. The upper limit currently stands fixed at Rs. 50,000, and may
go up to Rs. 75,000 depending on the severity of the disability.
Instruments that help you Save Tax:
Life Insurance: All investments made towards Life Insurance are eligible for a rebate
u/s 80C of the Income Tax Act. Life Insurance products with a minimum lock in
period of 3 yrs only are eligible for the rebate. Premiums paid under pension plans of
various life insurers are also eligible for Tax rebate. The major advantage of a Life
Insurance product is that they provide tax free interest income.

Equity Linked Saving Schemes:
These are Mutual Fund products and carry market risk. These too, like life insurance
products, are eligible for tax rebate u/s 80C, if they have a lock in period of 3 years. A
major disadvantage of these instruments is that they do not provide life cover.
Public Provident Fund:
These are 15 yearlong investments and provide tax-free returns. The current rate of
returns is 8%. Maximum investment allowed under this instrument is Rs. 70, 000,
which is eligible for a rebate u/s 80C.
Bank Deposits:
Tax rebate is available for 5 yrs deposits in any scheduled bank. The point to
remember is that the entire interest income is taxable.
National Saving Certificates:
Government sponsored securities certificates, which are available in denominations

of Rs. 100, Rs.500, Rs. 1000, Rs.5000 & Rs. 10,000 may be purchased from any post
office, either directly or through authorized agents. They currently provide a rate of
interest @ 8.16% p.a. compounded half yearly and paid after the maturity period of
six years along with principal. Interest accruing annually is automatically reinvested
and such re invested interest also qualifies for rebate u/s 80C of Income Tax Act. The
interest earned is completely taxable.
Home Loans:
Section 24 of the Income Tax Act allows you to deduct the total interest paid on your
home loan from your taxable income for the same financial year. You can also claim a
rebate u/s 80C for the principal amount repaid on the home loan.

Tuition Fee:
The entire tuition fee paid for up to two children is exempted from tax. Donations of
any kind like development fee etc. are excluded from the same.
Loan on Higher Education:
Those servicing a loan taken for higher education can claim a deduction on the
interest paid for the loan u/s 80E of the Income Tax Act. Currently there is no ceiling
on the interest amount that can be claimed under this section. The principle amount is
however completely taxable.
Health Insurance Plans:
Rebate is available u/s 80D of the Income Tax Act, for premiums paid for self,
spouse, children and parents. A limit of Rs.15, 000 is fixed for premiums paid for self,
spouse and children’s. There is an additional benefit of Rs. 15,000 on premiums paid
for parent(s) and in case the parents are senior citizens, the upper limit increases to
Rs. 20,000.
SECTION 80C lists down the instruments, which you can invest in order to save tax.
You can invest a maximum of Rs 1 lakh in all these instruments put together and the
entire amount of Rs 1 lakh will be deducted from your taxable income.
You can get a deduction for the following investments you make:
1. A life insurance policy or a unit-linked insurance plan (ULIP). The lock-in period
for ULIPs is between 3 to 5 years and the returns vary depending on the performance
of your fund.
However, if your annual premium exceeds 20 per cent of the sum assured on your
policy, you will not get the tax benefit.
2. A retirement benefit plan offered by mutual funds. Examples are the UTI
Retirement Benefit Plan and Templeton India Pension Plan.

3. A Provident Fund, provided that the fund is covered under the Provident Fund Act.
This would mean investments made by you through salary deduction in the
Employees Provident Fund (EPF) account as also investments that you make directly
in the Public Provident Fund (PPF). You can invest up to Rs 70,000 in the PPF. The
current rate of return on EPF is 8.5 per cent while that on PPF is 8 per cent.
4. An approved superannuation fund. Usually your employer, on behalf of you, does

this by deducting the investment amount from your salary.
5. National Savings Certificates (NSCs).
6. Equity Linked Savings Scheme (ELSS) offered by mutual funds.
7. Pension policies offered by insurance companies where benefits were earlier

available under section 80CCC. Earlier, there was a limit of Rs 10,000 on such
investments; however that ceiling has now been removed.
8. Bank fixed deposits that provide the Section 80C tax benefit. They come in with a
lock-in of 5 years.
Enjoy Dual Tax Benefits with Life Insurance:
 Save tax on Regular Premium payments - All the premiums paid towards
insuring your life are exempted from tax up to Rs. 1,00,000/- as specified in
section 80C of the Income tax act.
 Enjoy Tax free Maturity returns - One of the biggest advantages of investing
in Life Insurance policies is that, the complete maturity amount is tax free.
 Thus, you save tax not only at the time of investing in a life insurance plan,
you also get completely tax free returns after maturity.

HEALTH PLANS
FAMILY CARE FIRST

(A medical policy that puts your health care first)
The health of your family is very important to you. Bajaj Allianz Family care first
presents an innovative yet practical health care plan for everyone in your family
including children and parents. This unique hospitalisation plan gives you a 3 year
health cover for your entire family and allows you to renew this policy after every 3
years to keep your family covered till the age of 74 years. So no separate accounts,
repetitive paperwork or payments adjustments for each member. Secure your entire
family in one shot.
The policy covers hospitalization expenses ranging from Rs.1 lac to Rs.10 lacs. This
means, is you opt for a sum assured of Rs.5 lacs for your family, you and your family
can avail up to Rs.5 lacs every year to meet your hospitalization expenses, subject to
limits on reimbursement of expenses, waiting period and exclusions as mentioned
below.
All the life assured covered under the policy will be referred to as members. The
proposer or his/her spouse, if included who so ever is of higher age shall be referred
to as Primary Member and all other life assured as dependant members. Children of
the Primary Member shall be covered provided they are economically dependant on
parents and they are not married.

Key Features: -
 Coverage from 3 months to age 74 with guaranteed renewals
 3 year premium guarantee for each policy term
 Hospitalization cover in leading hospitals across the country
 15% discount on premium on every renewal
 No claim bonus in the form of increase in sum assured@ 5 % every year.
 Day Care Treatment for 125 day care procedures
 Pre- hospitalisation and Post-hospitalisation benefit
 Reimbursement of Ambulance expenses
 Choice to select health critical illness rider
 Choice to include Your spouse, children and parents
 Cash Less Service facility in leading hospitals across the country

INTRODUCTION OF TOPIC
A marketing strategy is a process that can allow an organization to concentrate its

(always limited) resources on the greatest opportunities to increase sales and achieve a
sustainable competitive advantage.
Marketing strategy as a key part of the general corporate strategy marketing strategy
is most effective when it is an integral component of corporate strategy, defining how
the organization will engage customers, prospects and competitors in the market arena
for success. It is partially derived from broader corporate strategies, corporate
missions, and corporate goals. They should flow from the firm's mission statement.
They are also influenced by a range of micro environmental factors.
Marketing strategy and sectarian tactics and actions

A marketing strategy also serves as the foundation of a marketing plan. A marketing
plan contains a set of specific actions required to successfully implement a marketing
strategy. For example: "Use a low cost product to attract consumers. Once our
organization, via our low cost product, has established a relationship with consumers,
our organization will sell additional, higher-margin products and services that
enhance the consumer's interaction with the low-cost product or service."
A strategy consists of well thought out series of tactics. While it is possible to write a
tactical marketing plan without a sound, well-considered strategy, it is not
recommended. Without a sound marketing strategy, a marketing plan has not
foundation. Marketing strategies serve as the fundamental underpinning of marketing
plans designed to fill market needs and reach marketing objectives. It is important that
these objectives have measurable results. A good marketing strategy should integrate
an organization's marketing goals, policies, and action sequences (tactics) into a
cohesive whole. Many companies cascade a strategy throughout an organization, by
creating strategy tactics that then become strategy goals for the next level or group.

Each group is expected to take that strategy goal and develop a set of tactics to
achieve that goal. This is why it is important to make each strategy goal measurable.
Marketing strategies are dynamic and interactive. They are partially planned and
partially unplanned. See strategy dynamics.
Types of marketing strategies

Every marketing strategy is unique, but if we abstract from the individualizing details,
each can be reduced into a generic marketing strategy. There are a number of ways of
categorizing these generic strategies. A brief description of the most common
categorizing schemes is presented below:
Strategies based on market dominance

In this scheme, firms are classified based on their market share or dominance of an
industry. Typically there are three types of market dominance strategies:
· Leader
· Challenger
· Follower
Porter generic strategies - strategy on the dimensions of strategic scope and strategic
strength. Strategic scope refers to the market penetration while strategic strength
refers to the firm’s sustainable competitive advantage.
· Cost leadership
· Product differentiation
· Market segmentation
Innovation strategies - This deals with the firm's rate of the new product
development and business model innovation. It asks whether the company is on the
cutting edge of technology and business innovation. There are three types:
· Pioneers
· Close followers
· Late followers

Growth strategies - In this scheme we ask the question, “How should the firm
grow?”. There are a number of different ways of answering that question, but the most
common gives four answers:
· Horizontal integration
· Vertical integration
· Diversification
· Intensification
A more detailed schemes uses the categories:

· Prospector
· Analyzer
· Defender
· Reactor

RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problem.

Research methodology constitutes of research methods, selection criterion of research
methods, used in context of research study and explanation of using of a particular
method or technique so that research results are capable of being evaluated either by
researcher himself or by others. Why a research study has been undertaken, how the
research problem has been formulated, why data have been collected and what
particular technique of analyzing data has been used and a best of similar other
question are usually answered when we talk of Research methodology concerning a
research problem or study. The main aim of research is to find out the truth which is
hidden and which has not been discovered as yet.
AREA OF STUDY
The area of the study related with getting correct information of life insurance policies
of different peoples in the region of Gaya, Bihar.
RESEARCH DESIGN
The research design is basically Exploratory in nature which helps in developing the
new ideas and insights about the problem under study. These are flexible in nature
that helps in gathering the relevant data to the problem, and hence many different
facts of problem can be considered.
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It
refers to the techniques or the procedure the researcher would adopt in selecting items
for the sample. Sample design may as well be drawn from the population to be
included in the sample i.e. the size of the sample. Sample design is determined before
data are collected. It includes space boundary, time boundary and sample size.

SPACE BOUNDARY
Bajaj Allianz Insurance Ltd., Gaya
TIME BOUNDARY
10 June 2010 – 25 July 2010
SAMPLE SIZE
This refers to the number of items to be selected from the universe to constitute a
sample a major problem before a researcher; the size of sample should neither be
excessively large, nor too small. It should be optimum. An optimum sample is one
which fulfills the requirement of efficiency, representative ness, reliability and
flexibility, while deciding the size of sample; researcher must determine the desired
precision as also an acceptable confidence level for the estimate. During my study I
have taken 50 insurance care consultants as the size of sample.
SAMPLE PROCEDURE
Probability Sampling: Probability sampling is also known as ‘Random sampling’ or

‘Chance sampling’. Under this sampling design, every item of the universe has an
equal chance of inclusion in the sample. (i.e., once an item is selected for the sample,
it cannot appear in the sample again.
Method of analysis of data: Tables, Pie chart, and Likert scale

TOOLS USED
To know the response, I have used the questionnaire method. If one wish to find what
insurance care consultants think or know, the logical procedure is to ask them. This
has led marketing researchers to use the questionnaire technique for collecting data
more than any other method.
In this method questionnaire were distributed to the respondents and they were asked
to answer the questions in the questionnaire. The questionnaire were structured non
disguised questionnaire because the question which the questionnaire contained, were
arranged in a specific order besides every question asked were logical for the study,
no question can be termed as irrelevant.
The questionnaire was non-disguised because the questionnaire was constructed so

that the objective is clear to the respondent. The respondents were aware of the
objective. They knew why they were asked to fill the questionnaire. With the help of
following techniques, which are using by Bajaj Allianz I analyse that the how
techniques of sales promotion are useful.

DATA COLLECTION
PRIMARY DATA SOURCES
· Through interaction with insurance care consultant

· Through questionnaires filled from the insurance care consultant.
SECONDARY DATA SOURCES:
· Through internet, various official sites of the companies.

· Through pamphlets and brochures of the companies.
· Journals & Magazines.

DATA ANALYSIS AND INTERPRETATION
Q.1 Which technique of sales promotion you prefer?
OPTIONS RESPONSE
Display 40%
Door To Door Promo 14%
Exhibitions 16%
Catalogue 20%
Price Off 1o%
20
40
20
Display
Door to Door Promo
Exhibitions
16 14 Catalogue
Price Off
Figure 1
Interpretation:
According to the study 40% insurance care consultants prefer display technique,20%
insurance care consultants prefer catalogues, 16% to the exhibition, 14% to the door
to door demo and 10% insurance care consultants prefer price off technique.
Q.2 Which technique is giving good response from customers?

Options Response
Display 18%
Door to Door Promo 36%
Exhibitions 18%
Catalogue 16%
Price Off 12%
12 18
16
Display
Door to Door Promo
Exhibitions
Catalogue
Price Off
18 36
Figure 2
Interpretation:
According to the study 36% insurance care consultants say door to door demo
techniques giving good response, 18% insurance care consultants say to the display &
exhibition, 16% to the catalogues & 12% say to the price off technique.
Q.3 Which technique is economically beneficial?

Options Response
Display 10%
Exhibitions 10%
Catalogue 46%
Price Off 12%
12 10
22
Display
Door to Door Promo
Exhibitions
Catalogue
Price Off
46
10
Figure 3
Interpretation:
According to the 46% insurance care consultants, catalogue technique is economically
beneficial. 22% to the door-to-door demo and 12% insurance care consultants prefer
price off technique.10% to the exhibition & display technique.
Q.4 Which technique requires less time in sales promotion?
Options Response
Display 22%

Exhibitions 10%
Catalogue 16%
Price Off 14%
14 22
16
Display
Door to Door Promo
Exhibitions
Catalogue
price Off
10
38
Figure 4
Interpretation:
According to the study 38% insurance care consultants say display technique requires
less time in sales promotion. 22% to the display technique, 16% insurance care
consultants vote to the catalogues, 14% insurance care consultants vote to the 10% to
the exhibition.
Q5 Which technique is easily manageable?
Options Response
Display 18%
Exhibitions 10%

Catalogue 34%
Price Off 8%
18
8
34 Display
Door to Door Promo
Exhibitions
Catalogue
Price Off
30
10
Figure 5
Interpretation:
According to the study 34% insurance care consultants say that the catalogues is
easily manageable, 30% to the door to door demo,18% insurance care consultants
prefer display technique 10% to the exhibition, and 8% insurance care consultants say
to the price off technique.
Q.6 Which technique requires less knowledge to execute?
Options Response
Display 14%
Exhibitions 12%
Catalogue 22%
Price Off 40%

14
40 12
Display
Door to Door Promo
Exhibitions
Catalogue
Price Off
12
22
Figure 6
Interpretation:
According to the study 40% insurance care consultants vote to the price off technique
is require less knowledge to execute.22% insurance care consultants prefer
catalogues, 14% to the display and 12% to the exhibition & door to door.
Q.7 Which technique requires more knowledge to execute?
Options Response in %
Display 20
Door to Door Demo 42
Exhibition 24
Catalogue 10
Price Off 4

10 20
4
Display
24 Door to Door Promo
Exhibitions
Catalogue
Price Off
42
Figure 7
Interpretation:
According to the study 42% insurance care consultants vote to the door-to-door
technique that it requires more knowledge to execute than others. 24% to the
exhibition, 20% to the display technique, 10% insurance care consultants give vote to
the catalogues and 4% insurance care consultants prefer price off technique.
Q.8 Price off are necessary for sales promotion?
Options Response
Yes 46%
No 40%
Can’t Say 14%

14
46
Yes
No
Can't Say
40
Figure 8
Interpretation:
According to the study 46% insurance care consultants say yes that the price off are
necessary for sales promotion. 40% say no and 14% say can’t say.
Q.9 Do you think that sales promotion program that is presently undertaken by
Bajaj Allianz. are satisfactory?
Options Response
Yes 34%
No 46%
Can’t Say 20%

20
34
Yes
No
Can' Say
4th Qtr
46
Figure 9
Interpretation:
According to the study 46% insurance care consultants say No that the sales
promotion program that is presently undertaken by Bajaj Allianz are satisfactorily
36% say Yes and 20% say can’t say.
Q.10 Should Bajaj Allianz take up new sales promotion program?
Options Response
Yes 72%
No 22%
Can’t say 6%

22 6
Yes
No
Can't Say
72
Figure 10
Interpretation :
According to the study 72% insurance care consultants say yes installment offers are
22% say no and 6% say can’t say.
FINDINGS
1. Insurance care consultants strongly focused on sales promotion techniques and

image of the company.
2. According to them display is the most feasible technique for sales promotion
because of its large exposure and economic feasibility for the organization.

3. However the customers give good response in door to door technique because of its
flexibility and ability to get immediate feedback. So the company should hire more
skilled advisors to improve their sales. This technique is easy to manage and take least
time in stimulate the customers.
4. Price-off is an important technique in sales promotion because in somehow it

provides income to the customers as well as affect the sales of the company’s
products.
5. Insurance care consultants said that their sale is very much increased in the last
years because of an excellent performance of the product. Insurance care consultants
said that the customer are very much satisfied after getting insurance policies because
of its features related with risks of life and also because of quality of service provide
by their company is very good.
5. Insurance care consultants opine that that there is need of improvement in sales
promotion technique to remain competitive and for enhancement of market share.
SUGGESTIONS AND RECOMMENDATIONS
Here are some suggestions, which may help to strengthen the firm further:
1. Many of the insurance care consultants of the Bajaj Allianz. Has the lack of good
communication skills and training. So training should be easy.

2. Bajaj Allianz. should use new innovative techniques of sales promotion.
3. Customer services should be more comfortable than others.
4. People must be made aware of the benefits of the policies of Bajaj Allianz.
5. The company should give personal attention to each customer.
6. Proper assistance should be provided to the customer at the time of claim

settlement.
7. All the details about the company should be given to the customers.
8. Regular advertisement of the company should be given TV and Newspaper.
9. The company must try to find new markets especially in the rural areas.
10. The company should do frequent analysis of the competitors.
CONCLUSION
The market potential for private insurance companies is found to be greater in the
long run as population and level of income are increasing. Most of the Insurance
Companies are focusing on formulation of effective strategies and sales promotion
technique. This also become an important area of competition in Life Insurance
Companies in the Era of marketing communication.

The private insurance companies have to take immediate steps in tapping new markets
which are untapped until now like, rural market and should formulate new
promotional strategies in the way of strengthening their field forces.
The private insurance companies have to concentrate on the factors like competitors
sales promotion strategies, price offs, new innovative techniques in this area,
availability of products and services with the company, different classes of people,
awareness among customers about sevices offered and their satisfaction. Then these
companies should make effective strategies by appropriate blending of all 7Ps i.e.
product, price, place, promotion, people, process and physical evidence.
Hence, the market has potential. The private insurance companies that are taking
immediate steps can tap it easily & rapidly.
LIMITATIONS
Following limitations were faced during the study:
3. While designing the questionnaire it was kept in mind to gather more and
more information from each target person. For the neither present nor
descriptive questions could have served the purpose. Therefore the
questionnaire contained in the open-ended questions.
4. The study was conducted in Bajaj Allianz in Bhopal city, which has 127 to
170 insurance care consultants only. The sample size was of 50 insurance care
consultants only so that accuracy of data so collected could be absurd
covered by circulation of questionnaire.
5. The accuracy of indications given by the respondents may not be consider

adequate as whether the language used in the questionnaire is understood by
the respondent cannot be taken for granted.
6. The study is based on the information gathered from the insurance care
consultants. Therefore in such case it is possible that the information supplied
might be biased because the insurance care consultant might have shown
partiality towards their insurance policies.
7. Since the survey was limited to 50 insurance care consultants it is rather

difficult to give a precise conclusion but I have tried to the best of my
capability to give the conclusion on a comprehensive manner
BIBLIOGRAPHY
BOOKS:
 Kothari C.R., (1999) Research Methodology, Wishwa Prakashan.
 Kotler P. and Armstrong G., (2005) Principles of Marketing New Delhi,
Prentice Hall of India.

 Kotler P., (1999) Marketing Management Analysis, Planning Implementation
and Control, New Delhi, Prentice Hall of India.
 Saxena Rajan, (1999) Marketing Management, Tata McGraw Hill.
WEBSITES:
 www.bajajallianz.com
 www.quickmba.com
 www.indiainfoline.com
ANNEXURE
QUESTIONNAIRE
Name : _____________________________________
Address : _____________________________________
Q.1 To which technique of sales promotion you prefer?
A) Display B) Door to door

Demonstration
C) Exhibition D) Catalogue
E) Price-off
Q.2 Which technique is giving good response from customers?
A) Display B) Door to door demonstration
E) Price-off
Q.3 Which technique is economically beneficial?
E) Price-off
Q.4 Which technique requires less time in sales promotion?
E) Price-off
Q.5 Which technique is easily manageable?

E) Price-off
Q.6 Which technique requires less knowledge to execute?
E) Price-off
Q.7 Which technique requires more knowledge to execute?
E) Price-off
Q.8 Price off and installment offers are necessary for sales promotion?
A) Yes B) No
C) Can’t say
Q.9 Do you think that sales promotion program that is presently undertaken by
Bajaj Allianz. are satisfactory?
A) Yes B) No
C) Can’t say
Q.10 Should Bajaj Allianz. take up new sales promotion program?
A) Yes B) No
C) Can’t say
COMPARISON OF TERM INSURANCE PREMIUMS (Rs. / Year)
S.No COMPAN POLIC 5 Yrs. 10 15 20 25 30

. Y Y Yrs. Yrs. Yrs. Yrs. Yrs.
1 AMP Raksha 2230 2230 2290 2260 3070 3640
SANMAR Shree
2 AVIVA Life 2650 2660 2890 3120 3530 4060

Shield
3 Bajaj Risk 3260 3560 4050 4830 6050 7750

Allianz Care
4 Birla Term 2950 2950 2950 3010 3160 ….

Sunlife Plan
5 HDFC Term 2770 2820 2870 2920 3050 3430

Assuranc
e
6 ICICI Life 3032 3032 3032 3032 3334 3905
Prudential Guard
7 Kotak Term …. 3400 3400 3700 4100 4500

Mahindra Assuranc
e
8 LIC Amol 2564 2564 2812 3227 3821 ….
Jeeven
9 MAX Level 2160 2280 2430 2700 3050 ….
NewYork Term
10 MET Life Suraksha 2700 2600 2800 3100 3300 ….
11 SBI Life Shield 2043 2043 2150 2454 2964 ….
12 TATA AIG Assure …. 3510 3970 4550 5280 ….

Life Line
PREMIUM STRUCTURE OF ENDOWMENT PLANS

(Rs. /YEAR)
S.No. COMPANY POLICY 5 Yrs. 10 Yrs. 15 20 25 30

Yrs. YRS. Yrs. Yrs.
1 AMP Divya Shree 219240 100140 63920 45140 34330 27520
SANMAR
2 Bajaj Allianz Invest Gain 200620 106020 64920 43620 31520 24120
3 HDFC Life Endowment …. 100740 65070 47000 37070 29820
Assurance
4 ICICI Save & …. 105455 65867 46133 34883 27907

Prudential Protect
5 ING Vysya Reassuring …. 96948 60300 43762 34779 28756
Life
Endowment
(Cash Bonus)
6 ING Vysya Reassuring …. 98093 63737 44857 33612 26493
Life
Endowment
(Reversionar
y Bonus)
7 Kotak Endowment …. 101632 63295 44167 33184 26348
Mahindra Plan
8 LIC Endowment 208829 102275 66530 47955 37818 31368
Assrurance
9 MET Life Suvidha 184610 84730 50160 32760 23160 17480
(non
participating)
10 MET Life Suvidha …. …. 62420 42990 31890 25550
11 SBI Life Sudarshan …. 97646 60034 40365 29399 22735
12 TATA AIG Assure …. 151250 …. 68170 …. 39060
Security &
Growth Plan
MINIMUM REQUIRED COMPOUND BONUS RATE (IN %)
S.No COMPANY POLICY 15 20 Yrs. 25 30

. Yrs. Yrs. Yrs.
1 AMP Divya Shree 3.57 3.47 3.44 3.50
SANMAR
2 Bajaj Allianz Invest Gain 3.67 3.28 3.07 3.00
3 HDFC Life Endowment 3.69 3.69 3.78 3.81
Assurance
4 ICICI Save n Protect 3.78 3.59 3.51 3.55
Prudential
5 ING Vysya Reassuring Life 3.15 3.30 3.50 3.67
Endowment

6 ING Vysya Reassuring Life 3.54 3.44 3.35 3.36
Endowment
( Reversionary
Bonus)
7 Kotak Endowment Plan 3.50 3.35 3.29 3.33
Mahindra
8 LIC Endowment 3.85 3.80 3.87 4.00
Assurance
9 MET Life Suvidha 3.40 3.21 3.12 3.22
10 SBI LIFE Sudharshan 3.12 2.87 2.76 2.77
11 TATA AIG Assure Security …. 5.70 …. 4.83
WHOLE LIFE INSURANCE PREMIUMS (RS./ YEAR)
S.No COMPANY POICY 15 Yrs. 20 Yrs. 25 Yrs.

.
1 AMP SANMAR Nitya Shree 36450 30000 26400
2 Bajaj Allianz Life Time 29760 24170 22140
Care
3 ING Vysya Rewarding 44754 38358 35572
Life
4 LIC Jeeven 76292 54274 41206
Anand
5 MET Life MET 100 16900 14340 13030
(non-
participating)
6 MET Life MET 100 32070 26700 23760
Gold

EQUITY SHARE CAPITAL OF LIFE INSURANCE COMPANIES
Name Of The Insurers 2008-09 2009- Foreign Indian

10 Promoter Promoter
Life Insurers
HDFC Standard Life Insurance Co. 255.50 320.00 47.52 272.48
Ltd.
ICICI Prudential Life Insurance Co. 675.00 925.00 240.50 684.50
Ltd.
Max New York Life Insurance Co. 346.08 466.08 121.18 344.90
Ltd.
Kotak Mahindra Old Mutual Life 151.26 211.76 55.06 26.00
Insurance Co. Ltd
Birla Sun Life Insurance Co. Ltd. 290.00 350.00 91.00 26.00
TATA-AIG Life Insurance Co. Ltd. 231.00 321.00 83.46 237.54
SBI Life Insurance Co. Ltd. 175.00 350.00 91.00 259.00
ING Vysya Life Insurance Co. Ltd. 245.00 325.00 84.50 26.00
Metlife India Insurance Co. Ltd. 160.00 235.00 61.10 173.90

Bajaj Allianz Life Insurance Co. Ltd. 150.00 150.00 39.02 111.05
AMP Sanmar 160.00 217.10 56.45 160.65
AVIVA 242.00 319.80 83.15 236.65
Sahara India 157.00 157.00 0.00 157.00
Sub Total 3238.71 4347.8 1053.93 3293.88
1
Life Insurance Corporation of India 5.00 5.00 5.00
Total (Life) 3243.71 4352.8 1053.93 3298.88
1
INVESTMENTS OF LIFE INSURERS IN LIFE FUND
2009 2008
Public Sector
LIC(A) 361428.87 304436.88
Private Sector
HDFC Std. Life 480.77 305.43
MNYL 436.37 241.85
ICICI PRU 970.63 658.45
BSLI 170.06 140.38
TATA AIG 392.76 220.65
KOTAK LIFE 200.67 133.43
SBI LIFE 960.89 367.84
BAJAJ ALLIANZ 382.28 221.91
MET LIFE 157.18 120.18
AMP SANMAR 110.71 98.69
ING VYSYA 241.22 75.28
AVIVA 144.95 144.65
SAHARA LIFE 142.48 143.29
TOTAL(B) 4790.98 2872.03
TOTAL(A+B) 366219.85 307308.91

INVESTMENTS OF LIFE INSURERS IN PENSIONS FUNDS
(Rs. In Crore)
2009 2010
PUBLIC SECTOR
LIC (A) 11462.03 9244.06
PRIVATE SECTOR
HDFC STD LIFE 151.91 101.68
MNYL 14.03 2.11
ICICIPRU 166.64 127.59
BSLI 0.06 0.00
TATA AIG 76.78 39.79
KOTAK LIFE 13.36 7.54
SBI LIFE 78.97 15.41
METLIFE 0.21 0.00
AMP SANMAR 50.45 9.83
ING VYSYA 0.00 0.00
AVIVA 0.00 0.00
TOTAL (B) 561.75 307.77
TOTAL (A+B) 12033.78 9551.83

INVESTMENTS OF LIFE INSURERS IN GROUP INSURANCE
(Rs. In Crore)
2009 2010
PUBLIC SECTOR
LIC (A) 42639.42 34086.32
PRIVATE SECTOR
MNYL 7.25 1.35
ICICIPRU 0.00 0.00
BSLI 0.00 0.00
TATA AIG 14.70 0.00
KOTAK LIFE 2.05 0.90
SBI LIFE 10.77 2.92
METLIFE 2.52 0.44
ING VYSYA 0.00 0.00
AVIVA 2.85 0.57
TOTAL (B) 41.43 7.15
TOTAL (A+B) 42680.85 34075.47
INVESTMENTS OF LIFE INSURERS IN UNIT LINKED PLANS

(Rs. In Crore)
2009 2008
PUBLIC SECTOR
LIC (A) 2758.67 209.87
PRIVATE SECTOR

MNYL 20.44 0.00
ICICIPRU 2337.16 780.07
BSLI 1125.72 474.62
TATA AIG 80.81 12.75
KOTAK LIFE 308.33 53.54
SBI LIFE 3.54 0.00
METLIFE 1.74 20.81
ING VYSYA 78.61 0.00
AVIVA 131.13 1478.43
TOTAL (B) 4768.77 1478.43
TOTAL (A+B) 7527.45 1688.31

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“A STUDY OF STRATEGY AND FUNCTIONING OF

A Report submitted in the partial fulfillment of the requirements of PGDM

Submitted to: - Submitted by:-

IIMT PROFESSIONAL COLLEGE, MEERUT

IIMT PROFESSIONAL COLLEGE, MEERUT Page 1

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DATE: SRIKANT RAMANUJAM

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I express my number of thanks to hon’ble, Mr. Madhukar Jee Madhu (Branch

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As PGDM program is research report oriented, it frequents to the students a lot of

IIMT PROFESSIONAL COLLEGE, MEERUT Page 6

S. No. CONENT PAGE NO.

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 To study the process of selling of Insurance Policies by Advisors.

 To know the view of advisors towards promotional tools.

 To know the proper working in the insurance sector.

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Insurance business is divided into four classes:

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1957 - General Insurance Council, a wing of the Insurance Association of India,

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In December 2000, the GIC subsidiaries were restructured as independent insurance

According to estimates, private insurance companies have a 10 percent share of the

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Insurance, like project finance, is extended by a consortium. Normally one insurer

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 To be the first choice insurer for customers

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As a responsible, customer focused market leader, we will strive to understand

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1. PRODUCTS AND SERVICES:

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Promotion in front of corporate offices

Hoardings and brochures

d) Bajaj Allianz Building in Pune

Bajaj Allianz Life Insurance

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Fiscal Year No. of policies sold New Business in FY

Bajaj Allianz bucks the trend with Rs50 cr profit

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UNIT LINKED INSURANCE PLAN

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The 5 funds available for investment are:

1. Liquid Pension Fund: - The investment objective of this fund is to have a

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Minimum Sum Assured = 5 times Annualized premium, OR half of the Policy

3. Bond Fund: - The investment objective of this fund is to provide

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