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A SUMMER TRAINING PROJECT REPORTON

SELLING OF INSURANCE PRODUCTS INHDFC LIFE

REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF POST GRADUATE DIPLOMA IN MANAGEMENT

FROM

NIILM CENTRE FOR MANAGEMENT STUDIES

(SESSION :- 2011-2013)

SUBMITTED BY:-

TAUSHIF NAIYERROLL NO-2011132BATCH (2011-2013)

SUBMITTED TO

INDUSTRY GUIDE FACULTY GUIDEMr.DEEPESH PAL Mr. RAJESH SHARMA(Sr.CDM)


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INFORMATION SHEET

NAME OF THE COMPANY: HDFC life

ADDRESS OF COMPANY: HDFC LIFE,3RD FLOOR,PLOT NO.15

MANGALAM PLACE,NEAR M2K

CINMEMA HALL,SEC-03,ROHINI,

NEW DELHI-110085

PH. NO. OF THE COMPANY: 011-40746020,9953990077

DATE OF INTERNSHIP COMMENECMENT: 2nd May

DATE OF INTERNSHIP COMPLETITION: 2nd JULY

NAME OF INDUSTRY GUIDE: Mr. DEEPESH PAL

DESIGNATION OF THE INDUSTRY GUIDE: Sr. C D M

STUDENT`S NAME: TAUSHIF NAIYER

STUDENT`S ROLL NO.: 2011132

STUDENT`S EMAIL ID: [email protected]

STUDENT`S MOBILE NO: 9582201990
mailto:[email protected]:[email protected]


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DECLARATION

I here by declare that, this project report title SELLING OF

INSURANCE PRODUCTS IN HDFC LIFE prepared by me

under the Guidance ofMr. RAJESH SHARMA.

I further declare that this project has not been submitted

earlier to any Institute / University for any Degree or

Diploma.

TAUSHIF NAIYER

ROLL NO 2011132

NIILM-CENTRE FOR MANAGEMENT STUDIESKNOWLEDGE PARK-V,PLOT NO 53,GREATER NOIDA (UP) 201301

GREATER NOIDA


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A C K N O W L E D G E M E N T

I take this opportunity to express profound gratitude and

deep regards to my guide Mr.RAJESH SHARMA for his

Exemplary Guidance, Monitoring and constant

encouragement through out the course of this project work.

The help of guidance given by him time to time shall carry

me a long way in my journey of life on which I am about to

embark.

I record with appreciation of the help rendered by Mr.

DEEPESH PAL, SENIOR CDM HDFC Life, New Delhi for,

giving me an opportunity and putting forward his excellent

ideas along with proving me all facilities necessary for

completion of my project.

My several well wisher help me directly or indirectly; I

virtually fall short of words to express my gratefulness to

them. There for I am leaving this acknowledgment

incomplete in their Reminiscence.


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INTRODUCTION

Established on 14th August 2000, HDFC Standard Life Insurance Co.Ltd. is a joint venture between Housing Development Finance

Corporation Limited (HDFC Limited) - India's leading housing financeinstitution, and a Group Company of the Standard Life Plc, UK. TheCompany is one of leading private insurance companies, offering arange of individual and group insurance solutions, in India. Being a

joint venture of top financial services groups, HDFC Standard Lifehas adequate financial expertise to manage long-term investmentssafely and resourcefully.

HDFC Standard Life believes that establishing a strong and ethicalfoundation is an essential prerequisite for long-term sustainable

growth. To ensure this, HDFCSL have concentrated their focus on

expansion of branch network, organising an efficient and well trained

sales force, and setting up appropriate systems and processes with

optimum use of technology. As all these areas form the basic

infrastructure for establishing the highest possible customer service

standards.

Our core values are drilled down to all levels of employees, as these

are inviolable. HDFCL continue to promote high integrity in business

practices and shun short cuts and unethical practices, as we wish to

be perceived as an institution with high moral standing. Since our

inception in 2000, when the Indian insurance space was opened for

private participation, we have consistently focused on setting

benchmarks in all aspect on insurance business. Being the first

private player to be registered with the IRDA and the first to issue apolicy on December 12, 2000, our differentiators are:


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Strong Promoters

HDFC Standard Life is a strong, financially secure business

supported by two strong and secure promoters HDFC Limited and

Standard Life. HDFC Limited excellent brand strength emerges fromits unrelenting focus on corporate governance, high standards of

ethics and clarity of vision. Standard Life is a strong, financially

secure business and a market leader in the UK Life & Pensions

sector.

Preferred and Trusted Brand

Our brand has managed to set a new standard in the Indian lifeinsurance communication space. We were the first private life insurer

to break the ice using the idea of self-respect instead of death to

convey our brand proposition (Sar Utha Ke Jiyo). Today, we are one

of the few brands that customers recognize, like and prefer to do

business. Moreover, our brand thought, Sar Utha Ke Jiyo, is the most

recalled campaign in its category.

Investment Philosophy

We follow a conservative investment management philosophy to

ensure that our customers money is looked after well. The

investment policies and actions are regularly monitored by a formal

Investment Committee comprising non-executive directors and the

Principal Officer & Executive Director.

As a life insurance company, we understand that customers have

invested their savings with us for the long term, with specific

objectives in mind. Thus, our investment focus is based on the

primary objective of protecting and generating good, consistent, and


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stable investment returns to match the investors long-term objective

and return expectations, irrespective of the market condition.

Need-Based Selling Approach

Despite the criticality of life insurance, sales in the industry have been

characterized by over reliance on tax benefits and limited advice-

based selling. Our eight-step structured sales process Disha

however, helps customers understand their latent needs at the first

instance itself without focusing on product features or tax benefits.

Need-based selling process, 'Disha', the first of its kinds in the

industry, looks at the whole financial picture. Customers see a plannot piecemeal product selling.

Risk Control Framework

HDFC Standard Life has fully implemented a risk control framework

to ensure that all types of risks (not just financial) are identified and

measured. These are regularly reported to the board and this ensures

that the company management and board members are fully awareof any risks and the actions taken to ensure they are mitigated

Focus on Training

Training is an integral part of our business strategy. Almost all

employees have undergone training to enhance their technical skills

or the softer behavioural skills to be able to deliver the service

standards that our company has set for itself. Besides the mandatory

training that Financial Consultants have to undergo prior to being

licensed, we have developed and implemented various training

modules covering various aspects including product knowledge,

selling skills, objection handling skills and so on.


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Focus on Long-Term Value

HDFC Standard Life do not focus in the business of ramping up the

topline only, but to create long-term value for policyholders,

shareholders, and partners. Today, we are extremely satisfied withthe base that we have created for the long-term success of this

company.

Transparent Dealing

We are one of the few companies whose product details, pricing,

clauses are clearly communicated to help customers take the rightdecision.

Strict Compliance with Regulations

We have initiated and implemented many new processes, some of

which were found useful by the IRDA and later made mandatory for

the entire industry.The agents who successfully completed this

training only, were authorized by the company to sell ULIPs. This has

now been made compulsory by IRDA for all insurance companies

under the new Unit Linked Guidelines.

Diversified Product Portfolio

HDFC Standard Lifes wide and diversified product portfolio help

individuals meet their various needs, be it:

Protection: Need for a sound income protection in case of yourunfortunate demise

Investment: Need to ensure long-term real growth of yourmoney


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Savings: Save for the milestones and protect your savings too

Pension: Need to save for a comfortable life post retirement

Health: Cover for health related exigencies

FUTURE GOALS THROUGH INSURANCE

A wide range of vehicles are available to fund future financial goals.

These could be low risk low return instruments like bank deposits

and small savings, or higher risk products such as equity, which can

offer potentially higher returns. Insurance scores over other

investment vehicles in the following aspects:

Certainty

Once a goal has been identified and a value for it has been

crystallized, an insurance policy is an excellent vehicle to fund the

goal. This is because one can rest assured that even in the

unfortunate event of death or even critical illness, the sum assured

will fund a future goal of the policyholder.


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Tax efficient

Maturity benefits of most insurance policies are tax free under

Section 10 (10D) and the premium paid is eligible for deduction underSection 80C of the Income Tax Act, 1961.

Flexibility

Insurance products, especially Unit Linked Plans, provide flexibility in

terms of asset allocation to suit specific risk appetites, policy

durations, premium payment terms and fund switching options.

Wider options

Depending on the time horizon of the goal, the return required and

the investors risk appetite, a broad spectrum of asset allocations

between equity and debt is possible in a Unit Linked Plan. An investor

may tailor his policy to suit his requirement.

Liquidity

Most Insurance products offer good liquidity after the lock-in period to

take care of any emergency requirement of funds. But they do have

inherent deterrents in the form of charges to discourage unnecessary

encashment.

Earmarking

Very often an insurance policy is taken for a specific goal. This

therefore can become a deterrent against utilizing these funds for any

other purpose and also encourages continued contributions.


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PLANNING FOR UNFORESEEN EVENTS

Insurance helps you to provide for contingent liabilities like

hospitalization, critical illness, debt redemption etc, in a cost efficient

manner.

1.)TERM INSURANCE PLAN

Term insurance is the simplest and cheapest form of life cover, which

pays the sum assured on death. This is useful to simply provide for a

familys survival in the unfortunate event of demise of the bread

winner. This can also be used to cover repayment of any debt of a

policy holder by simply assigning the policy to the creditor. Upon

maturity or claim on the policy, the proceeds are paid to the creditor.Loan Cover policies are a variant where the sum assured keeps

reducing in line with the loan balance.

Health covers

These policies provide cover against major health care expenses like

hospitalization, surgery, critical illness etc. The benefits could be in

the form of fixed pay outs on hospitalization or a lump sum on

diagnosis against some specified critical illnesses.

Accident benefit

This is usually an add-on cover over a basic policy and pays an

additional sum assured to the beneficiary in case of death due to

accident. Since accidental death is sudden and unforeseen, the

family could be faced with issues like relocation, debt servicing and

other requirement for funds


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2.) RETIREMENT PLAN

Indian life expectancy has improved dramatically over the years due

to availability of advanced medical facilities. However, a longerworking life may not really be possible due to occurrences of life-style

induced illness and high burn-out rate. The evolving demographic

balance with plenty of young talent becoming continuously available

may also be a deterring factor to a longer working life unless one is

self employed.

Consequently, our retirement life span could well be as long as our

active working life span. This means that we have to build a solidcorpus during our active life to maintain our life style for the long post

retirement life if we are to enjoy the true meaning of the word

retirement. Pension Plans help us build up our savings during our

earning years and provide us a lump sum on retirement. This lump

sum can then provide us a retirement income by investing in an

annuity.

PROVIDE POST RETIREMENT INCOME

The worst situation that a retiree can face is to run out of funds late

into retirement. Such a situation may force him to seek help from

friends / relatives or liquidate his fixed assets which essentially are a

compromise of self respect. This is where insurance offers the best

solution in the form of an annuity. Annuities bought from the

retirement corpus can either be used to provide regular post

retirement income for a fixed term or also for the entire life.


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A retirement plan may be broadly divided into two phases, namely

accumulation (pre-retirement) and distribution or consumption (post-

retirement). In the above graph*, we assume a 30-year old who plans

to retire at the age of 60 and expects to live till age 80. His

accumulation phase is between age 30 and 60 when he builds his

retirement corpus and distribution phase is between age 60 and 80

when he draws down this corpus for his living. Retirement Plans

ensure that the distribution phase of your life is as comfortable as

your earning years.

INSURANCE AS AN INFLATION SHIELD

Inflation lowers the purchasing power of money and makes a dramatic

cumulative impact over the long term. It reduces your real income year after year

as your cost of living keeps increasing. So, it must be taken into account while

framing financial goals.

The following illustration depicts the impact of inflation on income and prices.


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Insurance products such as Unit Linked Plans help us combat the impact of

inflation on our financial goals by providing the option to invest in equity, which is

known to deliver one of the best returns from all asset classes, over the long

term. Ignoring inflation would result in our savings falling short of the estimated

value of future goals, especially over the long term.

LIFE STAGE PLANNER

Young And Single

You are a single energetic twenty-something and have just kick-

started your career. With the newly acquired financial independence,most of you feel more inclined to shop, travel and enjoy life. However,

it is important to note that this is also the best time to take higher risks

as there are least financial responsibilities.

Your Insurance Needs

Saving for future expenses Whether for your home down

payment or for your marriage, you need a savings plan to build

a corpus for your future needs.

Tax Planning Now that you are earning, you wouldnt want

your hard earned money to just flow out of your hands. Tax

planning is an important aspect of financial planning and you


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should draw the maximum tax benefits that investment products

offer.

Securing your parents health Given their age, your parents

would be vulnerable to ill health and therefore you need to planfor their medical needs as well.

Just Married

Newly married, you are looking forward to building a whole new world

with your life partner. Marriage brings additional responsibilities and

thus additional expenses, which may burn a hole in your pocket

unless you plan your finances wisely.

Your Needs

Saving for future needs This is the stage in life where you

need to set aside a regular savings for your familys future

needs. This may be for immediate needs such as car or

vacation or for buying your dream house.

Life Cover With marriage comes the responsibility of securing

your partners life. A good life insurance plan can ensure that

your partner is financially secure, no matter what. Secure your health With time and age on your side, it would

be ideal to provide a cushion for any health contingencies that

you or your family may face in the future.

Married With Children

As you step into parenthood, your dreams increase manifold its not

just about you anymore, but about your little ones too. Take that extra

step to ensure that no matter what the circumstances maybe, you

dont have to compromise on your dreams for your bundles of joy.


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Your Needs

Childs education & future expenses Saving for your childs

education assumes utmost importance, at this stage. In the

long-term, you may also want to set aside funds for his/hermarriage expenses.

Safeguard family from loan liabilities If you have a home loan,

you may want to secure your family against the stress of loan

repayment, in the unfortunate event of your death.

Retirement planning You may now start feeling the

importance of building a retirement corpus to enable you to

continue the lifestyle you are used to leading even afterretirement.

Married With Grown Up Children

This is a stage when you have a well established career and draw a

decent income. As your children are growing, so are your expenses.

You may also have to spend on maintaining the house, for instance

renovating the house, replacing old furniture, etc.

Your Needs

Childs higher education / marriage Your main goal, at this

stage, is to fund your childs higher education. With your

childrens marriages around the corner, you may want to

rearrange your investment plan to fund these joyous events.

Retirement planning Retirement seems to be on the horizon,

so planning for your golden years is a priority.

Health contingencies Old age brings with itself a wide range of

health issues. You would surely like to be well equipped to face

any eventuality

Nearing Retirement


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Your children are most probably independent and well settled by now.

At this stage, your income is at its peak. You have substantial funds

at your disposal to set aside for your retirement.

Your Needs

Retirement planning Your goal at this stage is to plan for your

retirement. It is important to understand your true net worth and

how you wish to spend your retired years. This is because even

if you have not yet focused on retirement, investing wisely in

the next 10-12 years can help significantly.

Investments At this age you might also have substantialsavings which can be invested for stable growth. You should

consider investing in tax efficient instruments.

Regular income post retirement You should focus on

investing in those products that provide capital preservation and

generate regular income to meet your post-retirement needs.

Types of Insurance.

Unit Linked Plans And Conventional Plans


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3.)CONVENTIONAL PLANS

i) PENSION PLANS

Retirement is a natural progression and only if you are financially

secure during these years can you hope to live a comfortable retired

life. Pension plans are designed to accumulate your savings during

your earning years and thereafter provide you with a regular income

after retirement so that you dont have to depend on your children or

society.

Further, the premium payment in the case of pension plans can be

made as recurring payments for a fixed period of time (regular

premium) or once as a lump sum (single premium). Either way, the

amount and returns thereon are cumulated and paid out to the policy

holder at the retirement date as a lump sum. Part of this lump sum is

then used to purchase an annuity which provides post retirement

income

Benefits:

These plans are flexible as they allow you to choose your

investment period, the premium amount and the premium

frequency.

Reversionary bonuses are usually declared by the insurance

company annually and once declared are guaranteed.

There are tax benefits under various sections of the Income

Tax Act, 1961. A deduction is available from the total income up

to Rs 1 lakh under section 80 CCC and 80 C.

ii.)MONEY BACK PLANS

When you plan for your future, ideally you should set out with specific

goals and these should have costs and deadlines attached to them.

Once this is done, money back plans provide an excellent vehicle to

take you to the fulfillment of these goals.


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Money-back plans are insurance products which pay out pre-defined

benefits at periodic times during the entire term of the policy. For

instance, in a money-back plan with a 20 year term, 25 per cent of

the sum assured could be paid out after every five years (i.e., at the

end of the 5th, 10th and 15th year) and the remaining 25 per cent of

the sum assured along with the bonus, if any, would be paid out at

the end of the 20th year. However, in the case of the unfortunate

death of the insured person, the total sum assured (100%) and

bonuses will be paid.

Benefits:

Since a part of the sum assured is received periodically, this

plan combines short term financial goals with long term savings

and insurance.

Tax benefits under Section 80C are applicable on the premium

paid.

The periodic lump sums as well as maturity amount is tax free.

iii.)CHILDRENS PLANSYour children are your pride and joy and you would like them to have

the best that money can buy. And with a sound financial plan, you

can make sure that the materializing of their dreams is not hindered

for want of funds. Childrens insurance policies and products are

designed with this specific aim in mind.

These plans set out to secure you financially against the back drop of

constraints such as inflation and the rising cost of education. Theyhelp you to fund various aspirations like an overseas education, extra

curricular activities, sports training, supplementary vocational

education, marriage celebrations, etc. by providing a lump sum

amount at a specified future date.


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An additional feature offered by childrens plans is that they continue

to offer financial protection even in the event of the loss of the

premium paying parent. This ensures that the amount envisaged is

actually delivered even in the event of unforeseen eventualities.

Benefits:

Childrens insurance plans enable the parents to save money

for childs future without any disturbance to the family budget.

This is because the premiums can be chosen to suit the

parents convenience.

There are a number of options and customized products to

choose from for the childs future. Reversionary bonuses are usually declared by the insurance



paid.

Certain plan options also allow the plan to continue after

demise of insured parent and the insurance company continues

paying the premium.

iv)ENDOWMENT PLANS

Life is full of risks both financial and non financial. While it is difficult

to eliminate the non- financial risks, insurance helps you to minimize

the financial ones. Endowment plans are one such product. They

ensure that you receive an assured amount at the end of the policy

term plus bonuses, if any. If, due to unfortunate circumstances, the

insured person expires during the term of the policy, the sum assuredand bonuses go to the nominee. Endowment plans can be taken in

the name of minors too.


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Benefits:

This plan helps one plan for the future of their loved ones and

rest assured that finances will not be an obstacle, even in case

of the insured persons demise. Reversionary bonuses are usually declared by the insurance



paid.

v.)TERM PLANS

As the breadwinner of the family, even the best financial plan that you

create can go out of gear if you are not around to meet the financial

commitments it entails. With term plans, you can be sure that in the

event of your unfortunate demise your family will be compensated for

the financial loss to the extent that you see fit.

Term Assurance Plans are those plans where the sum assured is

paid out only if the insured person dies. There is no maturity benefit

under these plans. Due to this feature, the premium amount is

relatively low.

The premium can be paid regularly or even in a lump sum, according

to the design of the plan. Such policies can be taken either on a

single basis or on joint basis.

Benefits:

These plans are ideal for individuals who have dependents to

be taken care of. In the unfortunate event of the insured

persons death, the dependents are left financially secure.

The premium for such plans is very low, especially if the

insured in young.


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The plan can be topped up with add additional features (known

as riders), such as accident death cover or critical illness cover.

There are tax benefits for the insured person.

vi.)WHOLE LIFE PLANS

Insurance has become a necessity, particularly in India where most

families are dependent on a single earning individual. Further, since

there is no social security available in India, the financial interests of

the family have to be protected through other sources. Whole life

insurance policies are designed to provide lump sum payments to a

family in the event of the death of the insured person.

Unlike term insurance, a whole life insurance policy covers you foryour entire life and not just for a specific period of time.

Benefits:

The policy stays in force as long as the insured individual

continues to live and benefits remain constant during the entire

coverage period of the policy.

There is no need to undergo future medical examination once

the policy is in force.

There is also an element of tax-saving in these policies.

RIDERS

Riders are additional optional benefits that can be attached to a life

insurance policy. These can be purchased at a marginally additional

premium.

a) Waiver Of PremiumWhat is: Waiver of premium is a benefit under which payment

of premiums is waived off when the insured person suffers total

disability. In such a case, further payment of premiums is

exempted but the policy continues.


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Need: This optional benefit ensures that the policy continues to

invest the regular premium as planned and that the objective for

taking the insurance policy is not compromised.

b) Critical Illness CoverWhat is: If the insured is diagnosed as having any critical illness

covered by the insurance company, the sum assured is paid

out to the insured person as a lump sum amount. However, the

policy continues even as the critical illness cover ceases to

exist.

Need: The need for critical illness cover arises because of

exorbitant medical costs, which can be covered, at leastpartially, at a nominal expense through critical illness cover.

c) Accidental Death Benefit

What is: Under the accidental death benefit rider, an additional

amount covered under this benefit is payable in the case of the

accidental death of the insured person during the term of the

rider.

Need: The need for this rider arises because the accidentaldeath of the insured person could cause additional financial

inconveniences to the family/dependents due to the event.

d) Accelerated Sum Assured

What is: When Accelerated Sum Assured benefit rider is

chosen, the insured person is paid the sum assured on being

diagnosed as suffering from any of the critical illness. After the

settlement of claim the basic policy is terminated.


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3.)Unit Linked Insurance Plans

Introduction

In Unit Linked Plans, the investments made are subject to risks

associated with the capital markets. This investment risk in

investment portfolio is borne by the policy holder. Thus, you should

make your investment choice after considering your risk appetite and

needs.

Another factor that you need to consider is your future need for funds.

HDFC Standard Life offers you a variety of unit-linked insurance

products to suit your goals be it for your retirement planning, for

your health, for your childs education and marriage or for investment

purposes.

Which Investor Class Are They Most Suited For?

Those who wish to closely track their investments: Unit linkedplans allow policy takers to closely monitor their portfolios. They

also offer the flexibility to switch your capital between funds with

varying risk-return profiles.

Individuals with a medium to long term investment horizon: Unit

linked plans are ideal for individuals who are ready to stay

invested for relatively long periods of time.

Those with varying risk profiles: Across the seven fundsoffered, the equity component varies from zero to a maximum

of 100 per cent. Thus there is a choice of funds available to all

types of investors - from risk-averse investor to those investors

who have strong risk appetite.


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Investors across all life stages: This plan category offers a

variety of plans which can be opted for depending upon the life

stage you are in and your needs and financial liabilities at that

point in time.

How Is It Structured?

In a Unit Linked Plan, the premiums you pay are invested in the funds

chosen by you after deducting allocation charges and charges

including those for managing funds, policy administration and for

providing insurance cover are deducted from the funds by cancelling

certain units. The value of each unit of a fund is determined by

dividing the total value of the funds investments by the total number

of units.

Advantages Of A Unit Linked Plan

Market linked returns: Unit linked plans give you an opportunity

to earn market-linked returns as part of the premiums are

invested in market linked funds which invest in different market

instruments including debt instruments and equity in varying

proportions.

Life protection, Investment and Savings: Unit linked plans offer

the twin benefits of life insurance and savings at market-linked

returns. Thus, you have the opportunity to invest your money to

earn higher returns, while taking care of your protection needs.

Investing in unit linked plans helps to inculcate a regular habit

of saving and investing, which is important for building wealth

over the long term.

Flexibility: Unit Linked Plans offer you a wide range of flexible

options such as

o The option to switch between investment funds to matchyour changing needs.


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o The facility to partially withdraw from your fund, subject tocharges and conditions.

o Single premium additions to enable the policy holder toinvest additional sums of money (over and above the regular

premium) as and when desired, subject to conditions.Servicing A Unit Linked Plan

Single Premium: The policy holder is required to pay the entire

premium amount as a lump sum at the beginning of the policy

term.

Regular Premium Payment (annually, semi-annually or

monthly): The policy holder has to pay the pre-determined

premium amount periodically i.e. annually, semi annually ormonthly, depending upon the premium payment term opted for.

Number of Premium Paying Years: This depends on the term of

the policy that you have chosen. In most cases, the policy term

and the number of premium paying years (in case of regular

premiums) are the same. However, some policies give the

insured the option of choosing the number of premium paying

years.Charges

The following charges are deducted from your policy towards the cost

of benefits and administration services provided by HDFC Standard

Life Insurance

Administration charges: A fee is charged for administration of

your policy every month. Administration charges are deducted

by cancelling units proportionately from each of the funds youhave chosen.

Fund management charges: These charges are towards

meeting expenses related to managing the fund. This is


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charged as a percentage of the funds value and is deducted

before arriving at the net asset value of the fund.

Switch charges: You can switch between the funds available to

suit your changing needs and goals. In a policy year, a fixednumber of such switches are available free of cost. Subsequent

to this, each switch would attract a certain charge. These

charges are deducted by cancelling units proportionately from

each of the funds you have chosen.

Surrender charges: These charges are levied for premature

encashment of units. They are charged as a percentage of the

fund value and depend on the policy year in which the policy

has been surrendered.

Mortality Charges: Depending upon the age, and the amount of

cover, these charges are levied towards providing a death

cover to the insured.

Premium Allocation Charge: This charge is deducted as a fixed

percentage of the premium received, and is usually charged at

a higher rate in the initial years of a policy. This charge varies

depending upon whether the policy is a single premium or

regular premium policy, the size of the premium, premium

frequency and payment mode.

Partial Withdrawal Charges: Lump sum withdrawals are allowed

from the fund after the lapse of three years of the policy term

and subject to pre-specified conditions. However, such

withdrawals attract charges, as mentioned in the respective

policy brochures.

Switching Between Funds

HDFC Standard Life Insurance offers you the flexibility to switch

between funds available under a unit linked plan. You may wish to

switch between equity and debt funds, in times when there is market


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volatility or interest rate fluctuations. At times, changes in your

financial standing, liabilities or risk profile may also require that you

change your investments accordingly.

Making WithdrawalsYou may also make partial withdrawals from your funds after a

certain specified period, subject to a partial withdrawal charge. The

withdrawal amount should be at least the minimum prescribed

withdrawal amount and the fund must not fall below the minimum

fund value after the withdrawal.

You can make a full withdrawal of your policy before its maturity date.

However, surrender charges will be applicable in this case.

4.)PROTECTION PLANS

Calculate your Human Life Value (HLV)

Calculate your HLV. This will help you understand today's valueof your future earnings. It will calculate the corpus needed tosecure your familys financial future in your absence.

Decide your life coverage

Estimate your life cover considering your HLV, loan liabilitiesand family expenses.

Choose the additional optional benefit

Some polices offer you additional benefits. You can customizeyour policy by choosing any of the options available as riders.

Work out the premium payable

Based on your life coverage and additional benefits opted for (ifany), get an indication of the corresponding premium you needto pay. You can either contact an HDFC Standard Life


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representative or use our online calculator to calculate theamount of premium you need to pay

Tips on reducing premiumIt is not possible to negotiate the basic premium rates offered by

insurance companies. However, keeping the following points in mind,

you can surely reduce the costs incurred on premiums.

Mode of Premium payment as annual: Choosing the annualmode of payment reduces the premium cost. Insurancecompanies add extra charges to cover additional costs incurredby them if you pay multiple premium rather of single yearly

premium. These additional charges increase insurance costthus ultimately increasing your premium amount.

Start at a young age: The premium of the insurance plansincreases with age. At a young age, you are medically fit andphysically sound. This helps in reducing the insurance cost andin turn reduces your premium amount.

Tenure of the policy: The longer the term of the policy, lowerwill be the premium. Longer duration polices allow you to buildthe required corpus with smaller premiums.

Do not take riders that you do not need: Additional benefits onpolicies come with additional charges and increase your cost ofpremium. You can lower premium costs by opting only for thoseriders that you actually need.

Keep yourself Fit: Health related issues, Disability problems,Smoking and drinking habits, risky lifestyle all add to theinsurance cost thus increasing insurance premium. Keepyourself healthy and fit to get the benefit of lower insurancepremiums.

Insurance Myths

Insurance is for saving tax: Saving tax is just an addedadvantage of insurance policy; the main objective of insuranceis to provide protection to you and your family and to build anassured corpus for your future needs.


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Insurance will benefit only after my death: Insurance policesprovide protection to you and your family. One of the mainobjectives of taking insurance is to provide financial cushion toyour family in case you are not around but its not the onlyobjective. Insurance helps you to build a corpus for yourself;provides you with comfortable retired life and even takes careof your lengthy medical bills.

My group insurance is adequate: Your group insurance mightbe adequate but what if you change the job? Once you changethe job your group insurance will cancel off and you will not getany insurance benefit. So it is always advisable to takeinsurance other than the insurance offered by your employer.

Only the Breadwinner of the family needs insurance: Every

family member needs insurance. Your work profile changes theinsurance needs but certainly does not eliminate them.

I'm single and don't have any dependents, therefore I don'tneed any coverage: You might not need a life insurance policywhere your nominee is taken care of but you certainly need apolicy to take care of your health and retirement worries.

Life insurance is far more important than health coverage: Asthe health costs are increasing by the day, taking a healthinsurance plan has become as important as a life coverage

plan. Health plans, disability plans and critical illness plansprovide you with financial cushion and compensate for thefinancial loss you suffer in case you are not able to workbecause of illness. If life insurance plan secures the future ofyour loved ones then health coverage plan secure your ownfuture.

Tools & Calculators

Protection Plans

Family Maintenance Calculator

Save Tax Calculator

Premium Calculator

Childrens Plans

Child's Marriage Planner
http://www.hdfcinsurance.com/KnowledgeCenter/Calculators/FamilyMaintainanceCalculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/childsMarriagePlanner_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/FamilyMaintainanceCalculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/childsMarriagePlanner_Calculator.html


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Save Tax Calculator

Premium Calculator

Retirement Plans

Future Expense Planner Save Tax Calculator

Premium Calculator

Savings & Investment Plans

Monthly Savings Calculator

Save Tax Calculator

Premium Calculator

Health Plans

Ideal Body Weight Calculator

Cost of Smoking Calculator

Health Tax Calculator

Premium Calculator

Why Do I Need Health Plan?

Health plans give you the financial security to meet health related

contingencies. Due to changing lifestyles, health issues have

acquired completely new dimension overtime, becoming more

complex in nature. It becomes imperative then to have a health plan

in place, which will ensure that no matter how critical your illness is, it

does not impact your financial independence.

In the race to excel in our professional lives and provide the best for

our loved ones, we sometimes neglect the most important asset that

we have our health. With increasing levels of stress, negligible

physical activity and a deteriorating environment due to rapid

urbanization, our vulnerability to diseases has increased at an

alarming rate.
http://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/futureExpensePlanner_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/monthlySavingsCal_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/idealBodyWeightCal_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/costOfSmoking_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/HealthTaxCalculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/futureExpensePlanner_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/monthlySavingsCal_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/TaxCalulator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspxhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/idealBodyWeightCal_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/costOfSmoking_Calculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/Calculators/HealthTaxCalculator.htmlhttp://www.hdfcinsurance.com/KnowledgeCenter/ToolsAndCalculators.aspx


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Source: National Commission on Macroeconomics and HealthReport 2005.

Note: Current figures are for the year 2000(Cardiovascular

diseases)), 2001 (COPD and Asthma), 2004 (Cancer) and

2005(Diabetes and Mental Health). All figures above are on a per

lakh basis.

As can be seen in the above chart, lifestyle diseases are set to

spread at disturbing rates. The result increased expenditure. In

many cases, people need to borrow money or sell assets to covertheir medical expenses. All it takes is a suitable plan to help you

overcome the financial woes related to your health by paying

marginal amounts as premiums. For example, if you are 30 years old,

then a mere sum of approximately Rs 3500* annually (exclusive of

taxes) can provide you a health insurance plan of Rs 5 lakh over a

period of 20 years, and a worry-free future for you and your family.

*Note: The assumption is based on the HDFC Critical Care Plan. Thefigure is only indicative and the actual premium may depend upon

numerous factors such as age, sum assured, gender, policy term,

premium payment frequency and additional benefits opted for. It also

differs from plan to plan and option to option


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5.Health Plans

Types:- HDFC Critical Care Plan: This plan pays a lump sum

amount on survival of a period of 30 days from the date of diagnosis

of a critical illness as defined under the policy. The lump sum amount

is not linked to any health care expenditure hence you can spend the

same for treatment, paying off mortgages, paying EMI, travel, family

income etc. In the absence of the cover you will have to dig into the

savings or raise loans as the expenses associated with Critical

Illnesses can be very high.

HDFC SurgiCare Plan: This Plan provides you with timely support incase of medical emergencies with respect to hospitalization and

surgeries, as the case maybe, ensuring your financial independence

at all times.

HEALTH CLAIMS

If you suffer from a critical illness, requisite claims have to bemade. Heres what you need to do.


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Guide To Make Claims Under HDFC Critical Care Plan


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Guide To Make Claims Under HDFC SurgiCare Plan

o This facility can be availed in any of the hospitals in TTKsnetwork of hospitals. (please click here to view the list of TTKs

network of hospitals)

Note: Pre-authorisation of cashless claims will be permitted only

when the policy is in full force and any due premium has been paid.
http://www.ttkhealthcareservices.com/Pages/DOWNLOADS.htmhttp://www.ttkhealthcareservices.com/Pages/DOWNLOADS.htm


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In the event the claim arises during the grace period cashless facility

will not be available. If the cashless facility is not approved for

whatever reasons or if the hospitalization takes place in non

networked hospitals, the hospital will not extend the cashless benefit

and the policyholder will have to settle the hospital bills through

his/her own funds.

o Non cashless hospitalization is allowed when the policyholder isadmitted in non networked hospital or when the cashlessservice is denied.


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*Claim documents include verified photocopies of policy document,

photo identity document, hospitalization discharge card/summary,hospitalization invoice along with the itemized invoice and

corresponding payment receipts, surgical summary (in case the

claimant has undergone a surgery) verified by the operating surgeon,

all the supporting diagnostic reports and prescriptions, and the


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photocopy of the TPA ID card along with the duly filled and signed

claim form in original. All photocopies must be duly verified by the

hospital authorities.

INVESTMENT PHILOSOPHYAs a life insurance company, we understand that customers have

invested their savings with us for the long term, with specific

objectives in mind like protection for the family in case of death of

family member, child education and marriage liabilities or just

investment returns over a longer period of time.

With the above in mind, our investment focus is based on the primary

objective of protecting and generating good and consistentinvestment returns to match the investors long term objective and

return expectations.

Our investment success is therefore based on teamwork guided by a

robust and repeatable investment process.

You can click on the following links to get a better understanding of

HDFC Standard Life Investment approach

Investment process Risk Management

Market Watch

Market Outlook & Strategy September 2009

Equity markets

Indices

31st

August2009

31st

July2009

1 Month

Return(%)

12 Month

Return(%)

BSESensex

15,667 15,670 -0.02 7.57

S&P CNX 4,662 4,636 0.55 6.93
http://www.hdfcinsurance.com/FundDetails/Investment%20process.htmlhttp://www.hdfcinsurance.com/FundDetails/Risk%20Management.htmlhttp://www.hdfcinsurance.com/FundDetails/Investment%20process.htmlhttp://www.hdfcinsurance.com/FundDetails/Risk%20Management.html


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Nifty

BSE 100 8,226 8,177 0.60 7.93

BSE MidCap 5,883 5,571 5.60 2.45

BSE6,997 6,206 12.75 1.53

Debt markets

31stAugust

2009

31stJuly2009

29thAugust

2008

10-yr G Sec yield(%)

7.35 6.97 8.67

Inflation (%) -0.21* -1.58 12.76

Oil ($/barrel) 69.97 69.26 115.11

INR/USD 48.88 48.16 43.79

AUTHORITIES OF FINANCIAL ADVISOR

PART A - COMMON TERMS

Introduction

HDFC Standard Life Insurance Company Limited(hereinafter called as 'HDFC SL' which expression shallunless repugnant to the context or meaning thereof bedeemed to include its successors and assigns) having itsRegistered Office at Ramon House, 169 H. T. Parekh MargBackbay Reclamation, Churchgate, Mumbai-400 020, owns


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and maintains, directly or indirectly,www.hdfcinsurance.com (the Website). HDFC SL owns orhas license to use all contents, graphs, images, HTML andCGI or other scripts displayed and used on this Website.

The information contents provided on this site should/cannot be copied, modified, uploaded, downloaded,published or republished, transmitted or otherwisedistributed for commercial purposes without prior andexplicit permission from HDFCSL. Reproduction of anyinformation or material, with or without any modification,provided on this Website is prohibited unless, with priorpermission of HDFC SL, and shall amount to violation ofcopyright and would be an illegal act.

1. Restriction of Services

HDFC SL reserve its right to select the user of this Websiteand take decision as to whether to permit or not any personto use services provided on this Website.

2. No warranties

All information and material on this site are provided on an"as is" basis, and are without guarantees or warranties ofany kind, express or implied. Furthermore, any ideasand/or information provided or gained from this site wouldnot necessarily reflect the views of HDFC SL or its directorsor employees.

The materials and/or information available or obtained

at/through this site is/are not guaranteed or warranted interms of completeness, correctness, accuracy, reliability orotherwise howsoever by HDFC Standard Life or its directorsor employees.

The information on Policies provided on the Website is


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indicative of the terms, conditions, warranties andexceptions contained in the respective insurance policy. Forfurther details, please refer to the policy document andproduct brochures.

3. Limitation of Liability

This Website may contain links to Websites, Web-pages andservices also operated by HDFC SL and / or its Affiliates,and your use of each website is also subject to the Termsand Conditions and other terms and guidelines, if any, in

respect of each such website. In the event that any of theterms, conditions, and notices contained herein conflict withthe Terms and Conditions or other terms and guidelinescontained within any particular website, then the Terms andConditions and other terms and guidelines for such websiteshall prevail. You hereby agree and confirm that You shallclick on the links to and familiarize Yourself with the termsand conditions and other terms and guidelines foundthroughout this Web site and the affiliated websites and

abide by them if You choose to use the sites, pages orservices to which they apply.

The information obtained at/or through this site is not andshould not be construed as an offer for a policy or any otherassistance. The terms and conditions on which HDFC SLsells the policies are subject to changes from time to timedepending on various factors. While the site may beupdated with changes periodically, HDFC does not

guarantee that this site reflects the latest amendments/information at all times or at any time. The terms andconditions are also largely dependent on the prevalent IRDARegulations. HDFC SL does not guarantee that this site iscomplete or accurate in its information content as regardsthe above.
https://cp.hdfcinsurance.com/cpweb/TermsAndConditions.aspx#%23


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4. Nil Liability

Under no circumstances, including but not limited to

negligence, shall HDFC SL or its directors or employees beliable for any special or consequential damages that arealleged to have resulted from the use and/or inability to usethis site or information contained within, even if HDFC SLand/or its employees or directors have been notified of thepossibilities of potential damages or losses.

5. Transfer of interest

By posting messages, uploading files, inputting data, orengaging in any other form of communication through thissite, You are granting to HDFC SL a royalty free, perpetual,non-exclusive, unrestricted, worldwide license to:

1. Use, copy, sublicense, publicly perform or display anysuch Communication; and2. Sublicense to third parties the unrestricted right toexercise any of the foregoing rights granted with respect to

the Communication.

The foregoing grants shall include the right to exploit anyproprietary rights in such Communication, including but notlimited to rights under copyright, trademark, service mark,or patent laws under any relevant jurisdiction.

6. Right to Monitor:

HDFC SL reserves the right to monitor this site and all itscontent, and to disclose any information as necessary tosatisfy any law, regulation or governmental request, or toedit, remove any information or materials, in whole or in


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part, that in HDFC SL sole discretion are objectionable or inviolation of these Terms and Conditions.

7. Allocation of Units:

The day on which units are allocated will be governed byunit allocation rules. These rules will specify which day'sunit prices are used for requests made on a specific day andtime subject to a cut-off time.

For the first premium, allocation rules will apply to the dayand time on which the policy is issued. For subsequentpremiums and premium top-ups, the allocation rules will

apply to the date and time we receive the intimation andthe cheque.

All allocations or deallocation of units for transactionsinitiated by the policyholder (like premium payments, fundswitches, revival, surrenders, partial withdrawals etc) willbe processed using the unit price of the same day to bedeclared at end of that day provided an asset valuationhappens. If it is not a valuation day, we will use the unit

price of the immediately next valuation day.

The cut-off time for this will be 03:00 pm.

For outstation cheques, the allocation will be based on theday the cheque is realized. In case of renewal premium ifthe delay in realisation causes the policy to cross the graceperiod, we will lapse/ make paid-up the policy.

Policy charges which are taken through de-allocation ofunits will use either the unit price of the same day if it is avaluation day otherwise we will use the unit price of thevaluation day last available.

Policy cancellations initiated by us should use either the unit


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price of the same day if it is a valuation day otherwise wewill use the unit price of the valuation day last available.

8. Disclaimer:

You specifically acknowledge and agree that HDFC SL is notliable for any defamatory, offensive or illegal conduct of anyuser. You also specifically acknowledge that anyCommunication transmitted by you to HDFC SL via theInternet may not remain confidential or free frominterference by unauthorized third parties during itstransmission.

Disclaimer in case of unit lined policies

Unit Linked Life Insurance products are different fromthe traditional insurance products and are subject to therisk factors.

The premium paid in Unit Linked Life Insurance policiesare subject to investment risks associated with capitalmarkets and the NAVs of the units may go up or downbased on the performance of fund and factors influencingthe capital market and the insured is responsible forhis/her decisions.

HDFC Standard Life Insurance Company Limited is onlythe name of the Insurance Company and the names ofthe Unit Linked Plans offered by the Company are onlythe names of the unit linked life insurance contract and

do not in any way indicate the quality of the contract, itsfuture prospects or returns.

Please acquaint yourself with the associated risks andthe applicable charges, from your Financial Consultant orCorporate Financial Consultant / Insurance Broker or


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policy document of the insurer.

The various funds offered under the unit linked contractsare the names of the funds and do not in any way

indicate the quality of these plans, their future prospectsand returns.

Part B - Terms and Conditions (called "Terms" or"Terms and Conditions")

1. Applicability of Terms:

These Terms and Conditions, in so far as they refer to the

User form the contract and agreement between the Userand HDFC SL unconditionally.

2. Right To Alter The Services:

The website facility is being offered at the sole discretion ofHDFC SL and HDFC SL reserves the right to add, amend,revise, withdraw, suspend or cancel the usage of thisviewable/usable rights of the website either in whole or in

part any of the services which are part of the Websitefacility, without any prior notice to the User. Any addition,amendment, revision, suspension or cancellation shall beeffective and binding on the User. HDFC SL may introducenew services (forming part of Website facility) on theWebsite from time to time. The existence and availability ofthe new services as part of the Website facility will benotified on the Website as and when they become availableand any revision in the Terms and Conditions will take place

in accordance with these Terms and Conditions.

3. Terms of usage of the Website:

As a condition of accessing the Website and usage of theWebsite facility, the User unconditionally and absolutelyacknowledges and accepts the Terms and Conditions in its


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entirety.

The User further acknowledges that the availability of theinformation, advice and the guidance if any on the Website

does not constitute a recommendation (unless indicatedotherwise) and is not a solicitation (unless indicatedotherwise) by HDFC SL or any of their personnel or theexperts used by HDFC SL for buying Policies.

The User acknowledges that the decision to purchase anyPolicy is solely his and he has not been directed to purchasea policy by HDFC SL or its Financial Consultants and/or itsemployees.

The User shall be responsible for arranging and providingfor the mode to access this website, and HDFC SL shall notbe responsible for any damage, breakdown, wear and tearor any cost, directly or indirectly attributable to use of thiswebsite.

The User further submits to bear charges, if any, that maybe levied by HDFC SL to offer services on the website.

The services of this website shall be available to Retailclients only.

4. Terms of Usage of the Website with specific

reference to the Users:

User ID and User Password:

The User acknowledges that he would be able to access theWebsite facility in regards to his Policy by using the User IDand the User Password. The User further confirms and


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agrees that he will be the sole and exclusive owner and isthe only authorised user of his User ID and the UserPassword and accepts sole responsibility for use,confidentiality and protection of the User ID and the User

Password as well as for all Account Transactions initiatedthrough his User Account and shall ensure that the Userpassword/s is/are not revealed to any third party orrecorded in any written or electronic form.

If the User forgets / loses the User ID, he can request HDFCSL for informing his User ID. In case he forgets or loses hisUser Password, the User would be able to retrieve his UserPassword by following the procedure on the Website.

The User undertakes not to disclose the User Password toany person including employees of HDFC SL. HDFC SL willbe entitled to levy service charges for generation of newpassword.

The User shall at all times be fully responsible and liable forall Account Transactions that are carried out by the use ofthe User ID or the User Password registered under the

User. If third parties gain access to the services offered aspart of the Website facility through the use of the User IDand User Password, the User shall be deemed to beresponsible and the User hereby indemnifies and holdsharmless HDFC SL against any liability, costs or damagesarising out of claims or suits by or against such third partiesbased upon or relating to such access and use.

Any Account Transactions authorised by using the User ID

and User Password shall be deemed to be that of andinitiated by the User and HDFC SL is not responsible for anymistake / error made by the User in keying in any details ordata or any facts or figures.


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HDFC SL would be entitled, at its sole discretion, to seekoffline written or other confirmation from the User of anyAccount Transaction as it may deem fit to ascertain orverify the genuineness of request for Website facility.

The User shall follow such procedure laid down by HDFC SLfrom time to time in case of loss of password. Neither HDFCSL nor any of their officers, directors, employees, Advisors,Affiliates or subsidiaries can or will have any responsibilityor liability to the User or to any other person whose claimmay arise through the User with respect to any of thecircumstances described above.

Evidence Of Account Transactions:

HDFC SL's own records of the Account Transactionsmaintained through computer systems or otherwise shall beaccepted as conclusive and binding for all purposes. Moreparticularly, the record of HDFC SL generated by theAccount Transactions, including the recording of the time ofthe Account Transactions shall be conclusive proof of thegenuineness and accuracy of the Account Transactions.

Intellectual Property Rights:

You should assume that everything You see or read or hearor experience on the Website (including but not limited todirectories, charts, guides, pictures, news articles, excerpts,opinions, critiques reviews, downloads, text, forms,photographs, source code, images, illustrations, profiles,data files, audio clips, video clips, copyrighted material,

trademarks, service marks and the like, (collectively "theContent") is copyrighted / protected by intellectualproperty rights laws unless otherwise mentioned and maynot be used except as provided in these Terms andConditions.


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Use of Website:

The Website is deemed to be in use or is being accessed byYou when it is loaded and/or continues to be loaded in

temporary or permanent memory of Your computer orsimilar system or in the internet browser thereof. It is alsounderstood by the user that if in any case the policy of theUser is lapsed due to reasons whatsoever; the IPIN will notbe generated and the User will not be able to update hisIPIN.

In cases if IPIN is generated but the Policy lapses due toreasons whatsoever; then the User will not be availed of all

the service rights and may not be able to access the detailsof his plan and policy. In such cases he would be having hisrights restricted to view the summary pages and which maybe subject to amendments and changes, as HDFC SL deemsfit and necessary.

Registration Obligations:

As a pre-requisite for accessing the content on the website,HDFC SL may require you to register for availing theservices.

You are requested to complete all the required columns andHDFC SL retains the right to cross-verify the same byrequesting you to provide documentary evidence for thesame. HDFC SL also reserves the right to terminate theregistration in its own discretion, not limited to submissionof erroneous / incomplete / derogatory / inappropriate /incomplete information.

HDFC SL shall at no times be required to ensure that thedetails provided by you are up to date and it shall be theduty for each user that the same is duly updated at all


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points of time.

Restrictions on Use:

You agree to use the Website strictly for Your personal use.You agree not to use this Website or the Website facility forany purpose which is manner inconsistent with these Termsand Conditions or contravenes any provisions of law or isdeemed inappropriate by HDFC SL. You agree not to use,transfer, distribute or dispose of any information containedin the Website in any manner that could compete or conflictwith the business interest of HDFC SL or otherwisecompromise or imperil the interests of HDFC SL.

Disclaimer:

You agree to indemnify and keep HDFC SL indemnified at alltimes from all losses, damages, costs, expenses, loss ofprofits, loss of business, proceedings, actions, suits(including legal fees) caused to or suffered by HDFC SL as a

direct or indirect consequence of Your actions or actionsthat are attributable to Your User ID, including due tobreach of Terms, negligence and default.

We make no warranty regarding the Account Transactionsentered

into through the Website. No advice or information,whether oral or written, obtained by You from orthrough the Website facility or any person shall create

any warranty not expressly stated herein.

HDFC SL, its employees and directors, its suppliers andits third party Advisors shall not be liable for any actiontaken by You based on or relying on the information


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provided in or by the Website.

We will not be liable for any direct, incidental or

consequential loss, which may be caused to You as aresult of Your use of the Website / Website facility.

If You are dissatisfied with the Website or any portionthereof, the Website facility or with any of these Termsand Conditions, Your sole and exclusive remedy is todiscontinue using this Website and availing Websitefacility.

You acknowledge that any rights not expressly grantedherein are reserved.

Insurance is the subject matter of the solicitation.

Refer respective policy documents for risk factors andfurther details.

Foreign Jurisdiction:

HDFC SL accepts no liability whatsoever, direct orindirect for non-compliance with the laws of anycountry other than that of

HDFC SL's performance of Terms and Condition issubject to existing laws and legal process, and nothingcontained in this Terms and Conditions is in derogation

of HDFC SL's right to comply with governmental, courtand law enforcement requests or requirements relatingto your use of Website or information provided togathered by HDFC SL with respect of such use.


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Miscellaneous:

HDFC SL may sub-contract and employ advisors tocarry out any of its obligations under these Terms andConditions. HDFC SL may transfer or assign its rightsand obligations under this contract to any Affiliate.

All Account Transactions, which cannot be carried outinstantaneously, would be carried out during workinghours either on the same day or such further period asmay be determined and/or specified by HDFC SLdepending upon the time of logging of the transaction /nature of transaction. You are requested to confirmfrom HDFC SL, the estimated time required forcompletion of transaction / request, prior to executionof a transaction / request.

All Account Transactions shall be subject toGovernment notifications, the rules, regulations andguidelines issued by the Insurance Regulatory andDevelopment Authority, the Reserve Bank of India, andthose of other regulatory bodies definingrules/regulations governing the offer of any serviceunder the Website facility, if any, on which suchtransactions are executed and/or cleared by HDFC SL.

taushif project

Documents