training report honey matta

8/6/2019 Training Report Honey Matta

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TRAINING REPORT

ON

ADMINISTRATION IN HDFC STANDARD LIFE

INSURANCE COMPANY (UDAIPUR)

Report submitted in partial fulfillment of the degree in

Master of Banking and Insurance

(MBI)

University College of Commerce and Management Studies

Of

MohanLal Sukhadia University

Udaipur

Supervised by Submitted by

Dr. P.K. Singh Honey Matta

Course Director (MBI) MBI (4th

semester)


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CONTENTS

1. INTRODUCTION TO THE COMPANYyHDFC Standard Life Insurance Company LtdyHDFC Standard Life Insurance Parentage

HDFC LTDSTANDARD LIFE GROUP

yCorporate ObjectiveVisionMission

yKey Strengths of HDFC Life Insurance

Financial ExpertiseRange of solutionsTrack record so far

2. PRODUCTS OF HDFC LIFE INSURANCE

3. JOB PROFILE

4. S.W.O.T ANALYSIS

5.CONCLUSION

6. LEARNING

7. BIBI LOGRAPH Y


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DECLARATION

I hereby declare that the practical training at HDFC Standard life

insurance company Udaipur from 15th June 2010 to 31st July 2010was carried out by me and submitted in partial fulfillment of thePG degree in Master of Banking and Insurance of mohanlalsukhadia university.

Place: Udaipur Honey MattaDate : 01-09-2010 MBI(4th Semester)


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Acknowledgement

First of all I would like to thank the management in HDFCStandard Life Insurance Company for giving me theopportunity to do my 45 day s internship and projecttraining in their esteemed organization.

I am highly obliged to Mr.deepash (Sales DevelopmentManager) for all owing me to work under him. My heart feltthanks go to all the executives who helped me gain

knowledge about the actual working and the processesinvolved in market atmosphere. I also express mygratitude to Dr.P.K.Singh Sir HOD and Course Director ofMBI

I would also like to thank Mr.Girirsh Samdani sir whoguides me very effectively to complete my project.

I Express my gratitude to my friends swapnil,vikas, whoplay important role during my training tenure.


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DEDICATION

This Report

Is Dedicated

To

My Parents


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History of insurance in India

In India, insurance has a deep-rooted history. It finds mention inthe writings of Manu ( Manusmrithi ), Yagnavalkya(Dharmasastra ) and Kautilya ( Arthasastra ). The writings talk interms of pooling of resources that could be re-distributed in timesof calamities such as fire, floods, epidemics and famine. Thiswas probably a pre-cursor to modern day insurance. AncientIndian history has preserved the earliest traces of insurance inthe form of marine trade loans and carriers contracts. Insurancein India has evolved over time heavily drawing from othercountries, England in particular.

1818 saw the advent of life insurance business in India withthe establishment of the Oriental Life Insurance Company inCalcutta. This Company however failed in 1834. In 1829, theMadras Equitable had begun transacting life insurance businessin the Madras Presidency. 1870 saw the enactment of the BritishInsurance Act and in the last three decades of the nineteenthcentury, the Bombay Mutual (1871), Oriental (1874) and Empire

of India (1897) were started in the Bombay Residency. This era,however, was dominated by foreign insurance offices which didgood business in India, namely Albert Life Assurance, RoyalInsurance, Liverpool and London Globe Insurance and theIndian offices were up for hard competition from the foreigncompanies.

In 1914, the Government of India started publishing returns ofInsurance Companies in India. The Indian Life AssuranceCompanies Act, 1912 was the first statutory measure to regulatelife business. In 1928, the Indian Insurance Companies Act wasenacted to enable the Government to collect statisticalinformation about both life and non-life business transacted inIndia by Indian and foreign insurers including provident


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insurance societies. In 1938, with a view to protecting theinterest of the Insurance public, the earlier legislation wasconsolidated and amended by the Insurance Act, 1938 withcomprehensive provisions for effective control over the activitiesof insurers.

The Insurance Amendment Act of 1950 abolished PrincipalAgencies. However, there were a large number of insurancecompanies and the level of competition was high. There werealso allegations of unfair trade practices. The Government ofIndia, therefore, decided to nationalize insurance business.

An Ordinance was issued on 19th January, 1956nationalising the Life Insurance sector and Life InsuranceCorporation came into existence in the same year. The LICabsorbed 154 Indian, 16 non-Indian insurers as also 75provident societies245 Indian and foreign insurers in all. TheLIC had monopoly till the late 90s when the Insurance sectorwas reopened to the private sector.

Theh

istory of general insurance dates back to theIndustrial Revolution in the west and the consequent growth ofsea-faring trade and commerce in the 17th century. It cameto India as a legacy of British occupation. General Insurance inIndia has its roots in the establishment of Triton InsuranceCompany Ltd., in the year 1850 in Calcutta by the British. In1907, the Indian Mercantile Insurance Ltd, was set up. This wasthe first company to transact all classes of general insurancebusiness.1957 saw the formation of the General Insurance Council, a wingof the Insurance Associaton of India. The General InsuranceCouncil framed a code of conduct for ensuring fair conduct andsound business practices.


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In 1968, the Insurance Act was amended to regulateinvestments and set minimum solvency margins. The TariffAdvisory Committee was also set up then.

In 1972 with the passing of the General Insurance Business(Nationalisation) Act, general insurance business wasnationalized with effect from 1st January, 1973. 107 insurerswere amalgamated and grouped into four companies, namelyNational Insurance Company Ltd., the New India AssuranceCompany Ltd., the Oriental Insurance Company Ltd and theUnited India Insurance Company Ltd. The General InsuranceCorporation of India was incorporated as a company in 1971 and

it commence business on January 1sst 1973.

This millennium has seen insurance come a full circle in ajourney extending to nearly 200 years. The process ofre-opening of the sectorhad begun in the early 1990s and thelast decade and more has seen it been opened up substantially.In 1993, the Government set up a committee under thechairmanship of RN Malhotra, former Governor of RBI, to

propose recommendations for reforms in the insurancesector.The objective was to complement the reforms initiated inthe financial sector. The committee submitted its report in 1994wherein , among other things, it recommended that the privatesector be permitted to enter the insurance industry. They statedthat foreign companies be allowed to enter by floating Indiancompanies, preferably a joint venture with Indian partners.

Following the recommendations of the Malhotra Committeereport, in 1999, the Insurance Regulatory and DevelopmentAuthority (IRDA) was constituted as an autonomous body toregulate and develop the insurance industry. The IRDA wasincorporated as a statutory body in April, 2000. The keyobjectives of the IRDA include promotion of competition so as to


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enhance customer satisfaction through increased consumerchoice and lower premiums, while ensuring the financial securityof the insurance market.

The IRDA opened up the market in August 2000 with theinvitation for application for registrations. Foreign companieswere allowed ownership of up to 26%. The Authority has thepower to frame regulations under Section 114A of the InsuranceAct, 1938 and has from 2000 onwards framed variousregulations ranging from registration of companies for carryingon insurance business to protection of policyholders interests.

In December, 2000, the subsidiaries of the General InsuranceCorporation of India were restructured as independentcompanies and at the same time GIC was converted into anational re-insurer. Parliament passed a bill de-linking the foursubsidiaries from GIC in July, 2002.

Today there are 24 general insurance companies includingthe ECGC and Agriculture Insurance Corporation of India and 23

life insurance companies operating in the country.The insurance sector is a colossal one and is growing at a

speedy rate of 15-20%. Together with banking services,insurance services add about 7% to the countrys GDP. A well-developed and evolved insurance sector is a boon for economicdevelopment as it provides long- term funds for infrastructuredevelopment at the same time strengthening the risk takingability of the country.


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COMPANY PROFILE OF HDFC

STANDARD LIFE INSU RANCE

y ABOUT HDFC Standard Life InsuranceCompany Ltd

HDFC Standard Life Insurance Company Ltd. is one of India'sLeading private insurance companies, which offer s a range of

Individual and group insurance solutions. It is a joint ventureBetween Housing Development Finance Corporation Limited(HDFC Ltd.), India's leading housing finance institution and aGroup Company of the Standard Life, UK. HDFC as on December31, 2007 holds 72.38 per cent of equity in the joint venture.

y HDFC Standard Life Insurance Parentage

HDFC LimitedHDFC Ltd. was incorporated in 1977 with the primaryobjective of meeting a social need - that of promotinghome owner ship by providing long-term finance tohouseholds for their housing needs. HDF C was promotedwith an initial share capital of Rs. 100 million.

The primary objective of HDFC isto enhance residential housing stock in the countrythrough the provision of housing finance in a systematicand professional manner, and to promote home ownership. Another objective is to increase the flow of resources


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to the housing sec tor by integrating the housing financesector with the over all domestic financial markets.

y The Standard Life Group Company

Standard Life is a major asset man aging group witharound 7 million customers. Standard Life plc hasaround 1.5 million shareholders in over 50 countries.Standard Life Investments, as at 31 December 2008,manages 123.8 billion of assets (figure unaudited).

Inspired by life, they are known toprovide meaningful solution s, flexibility and support tobuild their customer s' confidence in their future wealthand wellbeing.


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Corporate Objective

y Vision:The most successful and admired life insurancecompany, which mean that we are the most trustedcompany, the easies t to deal with, offer the bestvalue of money, and set the standards in theindustry.

y Mission:To be the top new life insurance company in the market.

This does not just mean being the largest or the mostproductive company in the market, rather it is acombination of several things like-

yCustomer se r vice of the highest orderyValue f or money for customersyProfessionalism in carrying out businessyInnovative products to cater to different needsof different customer syUse of technology to improve servicestandards

yIncreasing market share


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Key Strengths of HDFC Life Insurance

y Financial Expertise

As a joint venture of leading financial ser vices group s,HDFC Standard Life has the financial expertise required tomanage the customer s long-term investments safely andefficiently.

y Range of Solutions

HDFC Standard Life Insurance has a range of individualand group solution s, which can be easily customized tospecific needs. The various group solutions have beendesigned to offer the customer complete flexibilitycombined with a low charging structure.

y Track Record so far

Gross premium income, for the year ending March 31,2008 stood at Rs. 4,859 crores and new businesspremium income stood a t Rs. 2,685 crores. The company

has covered over 9, 59,000 lives year endingMarch 31, 2008. The company was also awarded theCorporate Citizen of the year Award for its long-standingcommitment to community development.


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PRODUCTS OF HDFC LIFE INSURANCE

The various offerings of HDFC SL Insurance can beclassified into five major products:yIndividual ProductsyGroup ProductsyRural ProductsySocial ProductsyTax Benefits

In these, I, as a trainee was dealing with IndividualProducts .The various products and plans under this category are:1. Protection Plans

Term assurance PlanLoan Cover Term Assurance PlanHome Loan Protection Plan

2. Investment PlansSing le Premium W hole Of Life PlanUnit Lin ked Wealth Maximizer Plan

3. Pension PlansPersonal Pension PlanUnit Lin ked Pension IIUnit Lin ked Pension Maximizer II4. Health PlansCritical Care PlanSurgiCare Plan


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5. Savings Plans

Endowment Assurance PlanAssurance PlanSavings Assurance PlanChildrens PlanMoney Back PlanUnit Lin ked Endowment Plus IIUnit Lin ked Young StarUnit Lin ked Young Star I IUnit Lin ked young Star ChampionUnit Lin ked Enhanced Life Protection IISimpliLife

In the above mentioned plans, I, in particularly, wasdealingwith :1. Unit Linked Pension II

2. Endowment Assurance Plan3. Money Back Plan4. Unit Lin ked Young Star I I5. Childrens Plan6. Home Loan Protection Plan


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1. PROTECTION PLAN

Why do I need Protection Plans?

Protection Plans help you shield your family from uncertainties in life due to

financial losses in terms of loss of income that may dawn upon them incaseof your untimely demise or critical illness. Securing the future of one'sfamily is one of the most important goals of life. Protection Plans go a longway in ensuring your family's financial independence in the event of yourunfortunate demise or critical illness. They are all the more important if youare the chief wage earner in your family. No matter how much you havesaved or invested over the years, sudden eventualities, such as death orcritical illness, always tend to affect your family financially apart from thehuge emotional loss.

For instance, consider the example of Amit who is a healthy 25 year oldguy with a income of Rs. 1,00,000/- per annum. Let's assume his incomeincreases at a rate of 10% per annum, while the inflation rate is around 4%;this is how his income chart will look like, until he retires at the age of 60years. At 50 years of age, Amit's real income would have been around Rs.10,00,000/- per annum. However, in case of Amit's unfortunate demise atan early age of 42 years, the loss of income to his family would be nearlyRs. 5,00,000/- per annum.

However, with a Protection Plan, a mere sum of Rs. 2,280/- annually(exclusive of service tax & educational cess) can help Amit provide afinancial cushion of up to Rs. 10,00,000/- for his family over a period of 25years.

Types of Protection Plans

1a.HDFC Term Assurance Plan

1b.HDFC Premium Guarantee Plan

1c.HDFC Loan Cover Term Assurance Plan1d.HDFC Home Loan Protection Plan


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1a.HDFC Term Assurance Plan

This plan is designed to help secure your family's financial needs in case ofuncertainties. The plan does this by providing a lump sum to the family of the lifeassured in case of death or critical illness (if option is chosen) of the life assured during

the term of the contract. One can choose the lump sum that would replace the incomelost to one's family in the unfortunate event of one's death. This helps your family tomaintain their financial independence, even when you are not around.

Advantages

y High cover at a very nominal cost.

y Flexibility to choose the Sum Assured.

y Additional benefit options can be availed at marginal costs.

y Premium amount remains the same over the term of the policy in case of regular

premium

y Option of paying single premium or regular premium.

y Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961.

1b.HDFC Premium Guarantee Plan

HDFC Premium Guarantee Plan is an insurance plan that comes with twin advantage ofprotection and return of premiums* on maturity. So, you can enjoy life knowing that yourfamily's financial independence is secure even in your absence. And your premiums areyours on your survival at maturity.

Advantages

y High cover at a very nominal cost.


y Return of all your premiums paid on maturity*

y Tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961.


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1c.HDFC Loan Cover Term Assurance Plan

This plan aims to protect your family from your loan liabilities in case of your unfortunatedemise within the policy term. It provides the beneficiary with a lump sum amount,which is a decreasing percentage of the initial Sum Assured. This means that as the

outstanding loan decreases as per the loan schedule, the cover under the policy alsodecreases as per the policy schedule.

Advantages


y Decreasing Sum Assurance as the outstanding loan decreases ensures that you do notpay for the protection you don't need.

y Additional Optional Benefit is available at a nominal cost.

y Option of paying single premium or regular premium.

y Tax benefits are offered under section 80C, 80 D and 10(10D) of the Income Tax Act,1961.

1d.HDFC Home Loan Protection Plan

This plan aims to protect your family from your loan liabilities in case of your unfortunatedemise within the policy term. It ensures that your family does not lose the dream housethat you have purchased for them, in case you are not around to repay the outstandingmonthly installments on your housing loan. This provides you with the comfort ofknowing that in your absence, a sum of money will be available towards repaying yourhousing loan, making sure that your family will be secure in your family home.

Advantages

y A decreasing Sum Assured payable if you die during the term of the contract. This sumassured is intended to help pay-off your outstanding home loan

y Policy can be availed by paying a single premium in advance

y The premium amount can be included in the housing loan and repaid as part of the loanrepayment installments

y Decreasing Sum Assured makes sure that you do not pay for protection you don't need


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2.CHILDREN PLAN

Why do I need Childrens Plans?

Children's Plans helps you save so that you can fulfill your child's dreams

and aspirations. These plans go a long way in securing your child's futureby financing the key milestones in their lives even if you are no longeraround to oversee them. As a parent, you wish to provide your child withthe very best that life offers, the best possible education, marriage and lifestyle.

Most of these goals have a price tag attached and unless you plan yourfinances carefully, you may not be able to provide the required economicsupport to your child when you need it the most. For example, with the highand rising costs of education, if you are not financially prepared, your child

may miss an opportunity of a lifetime.Today, a 2-year MBA course at a premiere management institute wouldcost you nearly Rs. 3,00,000/- At a assumed 6% rate of inflation perannum, 20 years later, you would need almost Rs. 9,07,680/- to financeyour child's MBA degree.

An illustration of how education expenses could rise with passing time dueto inflation

Source: HDFC Standard Life Survey 2008. Inflation assumed as 6% p.a.

So, how can you cope with these costs? Children's Plans help you savesteadily over the long term so that you can secure your child's futureneeds, be it higher education, marriage or anything else. A small suminvested by you regularly can help you build a decent corpus over a periodof time and go a long way in providing your child a secured financial futurealongwith

Types of Children's Plans

Conventional Plans Unit Linked Insurance Plans

2a.HDFC Children's Plan y 2b.HDFC SL YoungStar Super II

y 2c.HDFC SL YoungStar Super Premium


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2a.HDFC Children's Plan

As a parent, your priority is your child's future and being able to meet your child'sdreams and aspirations. With our HDFC Children's Plan, you can start building yoursavings today and ensure a bright future for your child. This 'With Profits' plan is

designed to secure your child's future by giving your child (Beneficiary) a guaranteedlump sum on maturity or in case of your unfortunate demise, early into the policy term.

Advantages

y Lets you customise an ideal plan for your child and provide invaluable financial support

y The Double Benefit Plan Option helps you secure your child's immediate and futureneeds. In case of your unfortunate demise, we will pay the Sum Assured to your child(Beneficiary). Your family need not pay any further premiums and the policy continues.

And on maturity of the plan, we will pay you the Sum Assured plus Bonuses Declared

y You can choose to pay your premium as either Annually, Half-Yearly or Quarterlydepending on your convenience. You also have a range of convenient auto premiumpayment options

y Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

2b.HDFC SL YoungStar Super II

There is no bigger joy than being able to fulfill your child's dream on your own. WithHDFC SL YoungStar Super II you can fulfill your child's immediate and future needs. Sotomorrow when your child needs your support you don't have to depend on anyone

else.Advantages

y In case of your unfortunate demise or critical illness, we will pay the greater of SumAssured (less partial withdrawals) or Fund Value to your child (Beneficiary). The policywill terminate. We will pay 100% of all the future regular premiums to the Beneficiary asand when due, on an annual basis. Please refer to the sales brochure for details.

y You can customize the ideal plan for your child by choosing the premium you wish toinvest along with the Sum Assured, depending on the level of protection required.

y This plan can be taken by filling Short Medical Questionnaire, which may not require

you to go for medicals. Kindly refer to the product brochure for details.y You can change your investment fund choices in two ways:

o Switching: You can move your accumulated funds from one fund to another anytime

o Premium Redirection: You can pay your future premiums into a different selection offunds, as per your need



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2c.HDFC SL YoungStar Super Premium

With HDFC SL YoungStar Super Premium you can fulfill your child'simmediate and future needs- all on your own. Start saving now with thisunit linked insurance plan and be assured that savings for your child will

continue, even in your absence. This plan offers you choice of coveroptions and benefit payment preferences- all designed to suit your needs.

Advantages

y The Triple Insurance Benefit helps you secure your child's immediate andfuture needs. In case of your unfortunate demise or critical illness, we willpay the Sum Assured to your child (Beneficiary). Your family need not payany further premiums. With Save -n- Gain benefit ,we will pay 50% of allthe original regular premiums towards your policy and 50% of thepremiums will be paid to the Beneficiary as and when due, on an annual

basis. Any Death Benefit or Critical Illness cover terminates immediately.y You can customize the ideal plan for your child by choosing the premium

you wish to invest along with the Sum Assured, depending on the level ofprotection required and Benefit payment preference.

y This plan can be taken by filling Short Medical Questionnaire, which maynot require you to go for medicals. Kindly refer to the product brochure fordetails.

y You can change your investment fund choices in two ways:

o Switching: You can move your accumulated funds from one fund toanother anytime

o Premium Redirection: You can pay your future premiums into a differentselection of funds, as per your need

y Tax benefits are offered under section 80C and 10(10D) of the Income TaxAct, 1961


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3.RETIREMENT BENEFITS

Why do I need Retirement Plans?

Retirement Plans provide you with financial security so that when your professional

income starts to ebb, you can still live with pride without compromising on your livingstandards. By providing you a tool to accumulate and invest your savings, these plansgive you a lump sum on retirement, which is then used to get regular income through anannuity plan. Given the high cost of living and rising inflation, employer pensions aloneare not sufficient. Pension planning has therefore become critical today.

India's average life expectancy is slated to increase to over 75 years by 2050 from thepresent level of close to 65 years. Life spans have been increasing due to better healthand sanitation conditions in the country. However, the average number of years ofemployment has not been rising commensurately. The result is an increase in thenumber of post-retirement years. Accordingly, it has become necessary to ensureregular income for life after retirement, so that you can live with pride and enjoy your

twilight years.

Priorities at different stages of life:-

However, skyrocketing costs can throw even a well-laid plan off balance. With costsrising every day, you can just imagine how high they will be when you are ready to hangup your boots. So, what should you do to counter this? It's time to plan your retirementand that too sooner than later.

The above illustration shows how with each passing year your annual savingsrequirement would increase. For instance, if you are 30 years old and plan to retire at60, then, with a current annual expenditure of Rs. 3,00,000/- , you would need a corpusin excess of Rs. 2,00,00,000/- to maintain your living standards, assuming you live till 85years and the inflation rate is 4%. To build this retirement corpus, you need to invest Rs3,60,000/- per annum in a retirement plan that offers 8% returns per annum. In case youdelay planning your retirement by 5 years then the investment amount would increaseto Rs 6,90,000/- per annum.

Types of Retirement Plans

Type Conventional Plans Unit Linked Insurance Plans

Regular Premium 3a.HDFC Personal Pension Plan 3b.HDFC SL

Single

Premium/

Investment


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3a.HDFC Personal Pension PlanToday, you are busy climbing the ladder of success and realizing your dreams. Today,

time is with you. Just take a moment and think. Will you be able to continue at the samepace? Will your income be the same forever? Will you be able to live life on your ownterms even after you retire? The HDFC Personal Pension Plan is a 'WithProfits' insurance policy that is designed to provide a post-retirement income for lifewith the freedom to choose your retirement date.

Advantages

y This plan is designed to provide you a post retirement income for life- You can chooseyour premium, the Sum Assured and your retirement date. At the end of the policy term,you will receive the Sum Assured plus any attaching bonuses, which will provide you a

post retirement income in your golden yearsy On your chosen retirement (Vesting) date, you will get the lump sum comprising the

Sum Assured plus any attaching bonus.

o You can take up to 1/3rd of your Sum Assured as a tax free cash lump sum

o The rest must be converted to annuity

o You can buy the annuity from us or any other insurer

y For Regular Premium Policy, you can choose to pay your premium as either Annually,Half-Yearly or Quarterly depending on your convenience. You also have a range ofconvenient auto premium payment options

y Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to theprovisions contained therein

3b.HDFC Immediate Annuity

The HDFC Immediate Annuity is a contract that uses your capital to provide you with aguaranteed gross income through out your lifetime or over a period of your choice. Theincome is guaranteed and is unaffected by the rise and fall of interest rates. This meansyou can plan your life the way you want it to be, safe in the knowledge that your gross

income will not fall during the period you have selected. The HDFC Immediate Annuityoffers a number of options to meet all your income needs.

Advantages

y Income for Temporary Period Option: You can choose to limit the payment period ofannuity if you only require an income for a specified time. The annuity is payable foryour selected term provided you are still alive. No annuity is payable after the chosen


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term has expired. You can choose to limit the payment term to between 5 and 25 years.The term selected must be at least for one year greater than any guarantee period

y Death Benefits: In addition to a regular income, you can choose an annuity that willpay out a benefit on your death or, if you have chosen to provide an annuity for anamed individual, on the later of your and the named individual's death. You can choose

the level of death benefit:o Full purchase price, or a proportion of the purchase price

o Capital protection option- the amount paid on death is equal to the purchase priceless the gross annuity installments already paid under the annuity

o No death benefit is allowable where a guarantee period has been selected. No deathbenefit is allowable where a Joint Life annuity reducing on death of the first life hasbeen selected

y If you need to provide an income for someone after you die: The HDFC ImmediateAnnuity can also provide an annuity for a named individual specified in your application

form. This annuity will be paid if you die before the named individual. The amount oftheir annuity can be the same as your annuity or a proportion of your annuity

3c. HDFC SL Pension Maximus

HDFC SL Pension Maximus is a single premium unit linked pension plan which iscrafted to maximise your returns and assists you to live retirement days to a maximum-a king size life. This pension plan is designed to build a corpus during the policy term sothat you can enjoy annuity for life.

Advantages

y This plan is designed to provide you a post retirement income for life- choose yoursingle premium and after 10 years you will receive the vesting benefit, which will beused to provide you with the annuity in your golden years

y On Vesting you will receive greater of Fund Value or Guaranteed Vesting value.Seeproduct brochure for details on Guarantee Vesting value

y On your chosen retirement (Vesting) date, you will get the vesting benefit. As perprevailing Government regulations:

o You can take up to 1/3rd of the total Vesting benefit as a tax-free cash lump sum

o The rest must be converted to annuity

o You can buy the annuity from us or any other insurer

y Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to theprovisions contained therein


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4.SAVINGS AND INVESTMENT PLAN

Why do I need Savings & Investment Plans?

You have always given your family the very best. And there is no reason why theyshouldn't get the very best in the future too. As a judicious family man, your priority is tosecure the well-being of those who depend on you. Not just for today, but also in thelong term. More importantly, you have to ensure that your family's future expenses aretaken care, even if something unfortunate were to happen to you.

A big factor that you need to consider while building your wealth is inflation. It has a dualimpact on your hard-earned savings. Inflation not only erodes your current purchasingpower but also magnifies your monetary requirements for the future. Sample this: An 35Year individual needs to invest Rs. 36,000/- per year with 8% returns to build a corpus

of Rs. 10,00,000/- by the age of 50 Years.

However, Rs. 10,00,000/- after 15 years would be worth roughly around half of what it istoday once adjusted for inflation at the rate of 4%. Therefore, an individual will need tosave nearer to Rs 50,000/- annually to reach your targeted savings at the age of 50Years, if you consider inflation.

Our Savings & Investment Plans provide you the assurance of lump sum funds for yourand your family's future expenses. While providing an excellent savings tool for yourshort term and long term financial goals, these plans also assure your family a certainsum by way of an insurance cover. With HDFC Standard Life's range of Saving &Investment Plans, you can therefore ensure that your family always remains financiallyindependent, even if you are not around.

4a.HDFC Endowment Assurance Plan

4b. HDFC SL Crest

4c.HDFC SL ProGrowth Super II

4d. HDFC SL ProGrowthFlexi

4e. HDFC SL ProGrowth Maximiser

4f. HDFC SL New Money Back Plan

4g. HDFC Single Premium Whole of Life Insurance Plan

4h. HDFC Assurance Plan

4i. HDFC Savings Assurance Plan

4j. HDFC SL Endowment Gain Insurance Plan

4k. HDFC SL ClassicAssure Insurance Plan


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4a.HDFC Endowment Assurance Plan

As a judicious family man, your priority is to secure the well-being of those who dependon you. Not just for today, but also for the long term. With our HDFC Endowment

Assurance Plan, you can start building your savings today and ensure that your familyremains financially independent, even when you are not around. This 'WithProfits' plan is designed to secure your family's future by giving your family aguaranteed lump sum on maturity or in case of your unfortunate demise, early into thepolicy term.

Advantages

y Ideal way to secure your long-term financial goals and your family's financialindependence by giving a lump sum payment (basic Sum Assured plus any Bonus

Additions) on survival up to Maturity date

y Provides invaluable protection to your family by way of lump sum payment in case ofunfortunate demise within policy term

y Gives you the flexibility to customise your policy according to your needs by adding anyone of the 3benefit options available

y You can choose to pay your premium as either Annually, Half-Yearly or Quarterlydepending on your convenience. You also have a range of convenient auto premiumpayment options

y Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961

4b. HDFC SL Crest

Any uncertainty should not affect your plans. Be it of life, or of markets. You want tosecure happiness for yourself and your loved ones. We present HDFC SL Crest -insurance cum investment plan that provides valuable financial protection to your familywhen needed the most along with an investment option for certainty of highest NAValong with a guarantee on returns*. So that when you reap the returns of life, they areon crests not on lows. In this plan you can choose to invest in either of two investmentsoptions- Highest NAV Guarantee Fund or Free Asset Allocation Option.

Advantages

y Choice of two Investment Options - Highest NAV Guarantee Fund or Free AssetAllocation Option.

y Benefit of minimum guaranteed NAV of Rs. 15 at maturity *.

y On maturity you will receive the Fund value as per the investment option selected.

y This plan provides valuable protection to your family in case you are not around. In caseof your unfortunate demise during the policy term, we will pay the amount higher of yourSum Assured (less partial withdrawals) or your total fund value to your family. Pleaserefer to product brochure for details.


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y This plan can be taken by filling Short Medical Questionnaire, which may not requireyou to go for medicals. Kindly refer to the product brochure for details.


4c.HDFC SL ProGrowth Super II

You will settle for nothing but the best. Be it for self or for your loved ones. With HDFCSL ProGrowth Super II, you have a smart savings-cum-insurance plan that will help youeffortlessly provide the finest for your family, be it today or tomorrow.

Advantages

y You can choose any of the following 8 plan options as per your requirement.

o Life Option = Death Benefit

o Extra Life Option = Death Benefit + Accidental Death Benefit

o Life & Health Option = Death Benefit + Critical Illness Benefit

o Extra Life & Health Option = Death Benefit + Critical Illness Benefit + AccidentalDeath Benefit

o Life & Disability Option = Death Benefit + Accidental Total & Permanent DisabilityBenefit

o Extra Life & Disability Option = Death Benefit + Accidental Death Benefit + AccidentalTotal & Permanent Disability Benefit

o Life & Health & Disability Option = Death Benefit + Critical Illness + Accidental Total

& Permanent Disability Benefito Extra Life & Health & Disability Option = Death Benefit + Accidental Death Benefit+

Critical Illness + Accidental Total & Permanent Disability Benefit

y This plan provides valuable protection to your family in case you are not around. In caseof your unfortunate demise during the policy term, we will pay the Sum Assured andyour total fund value to your family.


y You can change your investment fund choices in two ways:





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4d. HDFC SL ProGrowthFlexi

Nothing should hold you back in life. Uncertainties of life can throw best laid

plans and aspiration off gear. It's prudent to be prepared and life insurance

solutions enable you to build your savings and enjoy life cover.W

ith HDFC SL ProGrowth Flexi, you have a smart savings-cum-insuranceplan that will enable you to simply provide the finest for your loved ones. In

this plan you also enjoy life insurance coverage so that you're loved ones

financial future is secured even in your absence.Advantages

y This plan provides valuable protection to your family in case you are not around. In caseof your unfortunate demise during the policy term, we will pay the greater of the Sum

Assured or your total fund value to your nominee.

y You can choose any of the following 2 plan options as per your requirement.

o Life Option = Death Benefit

o Extra Life Option = Death Benefit + Accidental Death Benefit

y On maturity, you can take the Fund Value at the prevailing unit prices as lump sum oryou can opt for settlement option.

y You have flexibility of



y Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961.

4e. HDFC SL ProGrowth Maximiser

You know that there are no guarantees in life, but when it comes to your loved ones youdon't want to take any chances. You need an assurance that if something happens toyou, your loved one's happiness and dreams are not hampered.With our HDFC SL ProGrowth Maximiser, you get the valuable life insurance coveralong with the choice of investing in any one of 3 different Investment Options. This planstrives to maximize your returns so that ensuring the best for your loved ones is easy.

Advantagesy Choose Investment options as per your need: You can invest into any of the 3

investment option designed to meet different investment and return needs.

o Highest NAV Guarantee Fund - offers the Guaranteed NAV applicable at maturity ofyour policy will be the higher of Rs. 15 or the highest NAV recorded daily during thefirst 7 years from the launch of the Highest NAV Guarantee Fund.


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o Capital Guarantee Fund - This fund guarantees that the Unit Price on maturity of thepolicy will be at least equal to the Unit Price that was used to allocate units to thesingle premium invested by you at inception of the policy.

o Free Asset Allocation - This option enables you to invest in any of the 5 nonguaranteed fund(s) available under this option. You can make your own investment

strategy by switching between the funds as desired.

y Invest additional single premium top- ups as per your convenience anytime. Pleaserefer to the product brochure for details.

y On unfortunate death of the life assured,greater of the Fund value or Sum Assured (lesswithdrawals as mentioned in sales aid) will be payable to the nominee.

y On maturity, you will receive the fund value as per investment option selected.


4f. HDFC SL New Money Back Plan

Being self reliant is a nice feeling. It's comforting to be assured that you have necessary fundsto live a fulfilling life. With HDFC SL New Money Back Plan, you will get regular cash back atperiodic intervals, so that you can fulfill your dreams & aspirations. This plan also offers thefinancial protection to your loved ones when they need it the most, enabling you to live life withpeace of mind.

Advantages

y Money Back on completion of every 4 years, you would get a percentage of your sum assured

as cash payout. The payout will be as defined below.PolicyTerms

(Yrs.)

Survival Benefit as a % of Sum Assured (Money Back Payout)

4th yr 8th yr 12th yr 16th yr 20th yr 24th yr

12 25% 25%50% + attaching

bonus- - -

16 25% 25% 25%25% + attaching

bonus- -

20 20% 20% 20% 20%20% + attaching

bonus-

24 15% 15% 15% 15% 15%25% + attaching

bonus

y Provides valuable protection to your family by way of lump sum payment i.e. Sum Assured plusattaching bonsues, in case of unfortunate demise within policy term, over and above any earlierpayouts.

y You can choose to pay your premium as either Annually, Half-Yearly, Monthly or Quarterlydepending on your convenience. You also have a range of convenient auto premium paymentoptions

y Tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961


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4g. HDFC Single Premium Whole of Life Insurance Plan

Ideally, just how spending comes to you, so must saving and investing. You are able tofinance your expenses and take care of your family's needs in present times. However,to ensure that family is able to maintain the same standard of living in the future, youneed to make the right kind of investment today. HDFC Single Premium Whole of LifePlan is a tailor made plan well suited to meet your long-term investment needs and helpyou maintain your family's financial independence. This single premium investment planis a Whole of Life plan aimed at providing long-term real growth of your money.

Advantages

y This participating plan is a Whole of Life plan aimed at providing long-term real growthfor your money

y By nature, this is a whole life policy where the term extends for the life However, youcan decide on the policy term by using a feature built into it. For a period of 4 weeks,after any one of the 10th, 15th, 20th and subsequent five-year anniversaries, you can

choose to receive the Sum Assured plus any attaching bonuses, in full. Once moneyhas been received, your policy will cease or you may also continue the policy for yourwhole life

y You can terminate the policy any time, after it has been in force for at least 6 month andreceive a surrender value. We will pay discretionary surrender value based on ourexperience. However, after completion of 3 years there will be a guaranteed surrendervalue of 50% of premium paid. In addition to the guaranteed surrender value, we maypay additional discretionary surrender value based on our experience. Contract ends onthe payment of the same

y Currently Section 80C benefit is available for the premium paid under the plan to the

extent of 20% of the Sum Assured. In the event of a death claim the money paid isexempt as per Section 10(10D), of the Income Tax Act 1961

4h. HDFC Assurance Plan

To fulfill your dreams for your family and yourself, you need to start saving today. Andyou not only need to save enough but also need the assurance that your family's futureis secure. Get the convenience of HDFC Assurance Plan. HDFC Assurance Plan helpsyou conveniently build your long-term savings while keeping your family's futureprotected. This 'With Profits' savings plan helps you build your long-term savings while

securing your family's future.Advantages

y This plan is a 'With Profits' savings plan, which offers the following features

o The plan receives simple Reversionary Bonuses, which are usually added annually


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o At maturity, the plan pays out the basic Sum Assured plus Reversionary Bonusesdeclared during the policy term. Interim or Terminal Bonus may also be payable, ifdeclared

y The plan can be surrendered for cash value before maturity

y Provides financial support to your family by way of a lump sum payment in case of yourunfortunate death within the policy term. The lump sum is the basic Sum Assured plusany bonus additions

y Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject toprovisions contained therein

This product is available for sale through our Bancassurance Partners (HDFC Ltd.,HDFC Bank, Saraswat Bank, Indian Bank and Bank of Baroda)

4i. HDFC Savings Assurance Plan

Despite your best efforts, you do not end up saving regularly for your family's and yourfuture. Unexpected expenses, unplanned purchases and often, sheer lack of timedefeat your efforts. Don't you wish that someone would take on the responsibility ofregularly saving your money for you? HDFC Savings Assurance Plan is a 'With Profits'savings plan which helps you conveniently build your long-term savings and ensure thatyour family is protected even if you are not around.

Advantages

y The chosen amount is automatically invested from your bank account into the plan

y This plan is a 'With Profits' savings policy, which offers the following features

o The policy receives simple reversionary bonuses, which are usually added annually

o At maturity, the policy pays out the basic Sum Assured plus Reversionary Bonusesdeclared during the policy term. Interim or Terminal Bonus may also be payable, ifdeclared

y On death during the first year, a sum equal to 80% of premiums received is payable. Ondeath after the first year and during the policy term, all premiums paid to date will bereturned with compound interest calculated at 6% per annum, subject to a maximum ofthe Sum Assured plus Reversionary Bonuses declared till date

y Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to

provisions contained therein

This product is available for sale through our Bancassurance Partners (HDFC Ltd.,HDFC Bank, Saraswat Bank and Indian Bank


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4j. HDFC SL Endowment Gain Insurance Plan

With HDFC SL Endowment Gain Insurance Plan, you can be financially prepared for thefuture and can fulfill your dreams & aspirations. This plan also offers financial protectionto your loved ones when they need it the most, enabling you to live life with peace ofmind.

Advantages


Additions) on survival up to Maturity date.

y Provides invaluable protection to your family by way of lump sum payment in case ofunfortunate demise within policy term.

y Gives you the flexibility to customize your policy according to your needs by adding anyone of the 2 benefit options available.

y You can choose to pay your premium as either Annually, Half-Yearly ,Quarterly orMonthly depending on your convenience. You also have a range of convenient autopremium payment options.

y Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961.

4k. HDFC SL ClassicAssure Insurance Plan

With HDFC SL ClassicAssure Insurance Plan, you can be financially prepared for thefuture and can fulfill your dreams & aspirations. This plan also offers financial protection

to your loved ones when they need it the most, enabling you to live life with peace ofmind.

Advantages


Additions) on survival up to Maturity date

y Provides invaluable protection to your family by way of lump sum payment in case ofunfortunate demise within policy term.

y

You can choose to pay your premium as either Annually, Half-Yearly ,Quarterly orMonthly depending on your convenience. You also have a range of convenient autopremium payment options.

y Enjoy High Sum Assured Discount of 5% on basic premium for Sum Assured of Rs.5Lakhs and above.See product brochure for details.

y Tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961.


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5.HEALTH PLANSWhy do I need Health Plans?

Health plans give you the financial security to meet health related contingencies. Due tochanging lifestyles, health issues have acquired completely new dimension overtime,becoming more complex in nature. It becomes imperative then to have a health plan inplace, which will ensure that no matter how critical your illness is, it does not impactyour financial independence.

In the race to excel in our professional lives and provide the best for our loved ones, wesometimes neglect the most important asset that we have - our health. With increasinglevels of stress, negligible physical activity and a deteriorating environment due to rapidurbanization, our vulnerability to diseases has increased at an alarming rate.

Source: National Commission on Macroeconomics and Health Report 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 areon a per lakh basis.

As can be seen in the above chart, lifestyle diseases are set to spread at disturbingrates. The result - increased expenditure. In many cases, people need to borrow moneyor sell assets to cover their medical expenses. All it takes is a suitable plan to help youovercome the financial woes related to your health by paying marginal amounts aspremiums. For example, if you are 30 years old, then a mere sum of approximately Rs3500* 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. The figure is onlyindicative and the actual premium may depend upon numerous factors such as age,sum assured, gender, policy term, premium payment frequency and additional benefitsopted for. It also differs from plan to plan and option to option

Types Of Health Plans

5a.HDFC Critical Care Plan

5b.HDFC SurgiCare Plan


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5a.HDFC Critical Care PlanCritical Illness can strike anyone. Today with advancement in medical science it ispossible to survive a critical illness. Expenses on survival with a critical illness can bevery high. HDFC Critical care plan provides for a lump sum payment on survival postdiagnosis of a critical illness, so that in the event a critical illness strikes, you don't have

to dig into those precious savings of yours.

Advantages

y Provides valuable protection on survival post diagnosis of a critical illnesses

y Covers as many as 30 critical illnesses

y Lump sum benefit payment paid irrespective of medical expenses

y The policy continues even after the benefit payment paid on selected illness

y Choice of the level of health cover and premium payment

y Convenient and hassle free claims

y Tax benefits are available under section 80D under Income Tax Act, 1961

5b.HDFC SurgiCare Plan

In the fast paced lives that we lead, medical contingencies may arrive at our doorstepuninvited.Surgery costs form a substantial portion of health care expenditure and needsto be provided for. Health issues can get compounded if left unattended and may

require a surgery. Plus, the ever increasing costs of surgical procedures are sure toburn a hole in our pockets.

HDFC SurgiCare Plan provides you with timely support in case you have to undergo amajor surgery and hospitalisation, as the case maybe, ensuring your financialindependence at all times.

Advantages

y 82 major surgical procedures are covered.

y Option to include hospital cash benefit

y

Automatic increase in the level of health cover (subject to terms and conditions) ensuresthat the increasing medical costs are taken care of.

y Lump sum benefits are paid regardless of the actual medical expenses.

y The policy continues even after the after the payment of first or subsequent surgicalprocedures, subject to terms and conditions as stated in the policy brochure.

y Flexibility to tailor-make the policy by choosing level of health cover, benefit optionslevel and premium payment as per your needs.


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y Convenient and hassle free claims with cashless benefits on surgeries andhospitalization in any of the network hospitals. To know more click here.

y Tax benefits can be availed under section 80D of the Income Tax Act, 1961


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JOB PROFILE

The job profile that I was as signed with was that of aFinancial Consultant (F.C .). I was required to helpanalyze customers financial needs along with providingcustomized financial solutions to each customerindividually. As a Financial Consultant, I was required toconduct reviews on a regular basis to keep customer s ontrack.

A Financial Consultant, according to IRD A (InsuranceRegulatory And Development Authority), is one who actson the behalf of a particular insurance company and whois remunerated by way of commission s on the premium

paid under policies procured through his efforts. He is themain component of the distribution channel for theinsurance business.

As a Financial Consultant, I w as required to do thefollowing:yContact prospect s for life insurance, study their needs

And persuade them to buy. (Leads usually given by theCompany and mostly I was required to go on calls along


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With my SDM).

y

Complete all related formalities, including filling upProposal for ms, collecting premium, arranging medicalExamination, collecting proofs of age and income,Reports and other information required by theUnderwriter. (T his was what I mostly used to do as aTrainee).


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S.W.O.T ANALYSIS OF HDFC SL INSURANCE

y STRENGTH

1. Domes tic image of HDFC supported by Standard LifesInter national image is strength of the company.

2. Strong and well spread network of qualifiedIntermediaries and sale s per son.

3. Strong capital and reserve base.

4. The company provides customer ser vice of the highestOrder.

5. Huge basket of product range which are suitable to allAge and income groups.

6. Large pool of technically skilled manpower with in depthKnowledge and under standing of the market.

7. The company also provides innovative products to caterTo different needs o f different customers.


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y WEAKNESS

1. Heavy management expenses and administrative costs.

2. Low customer confidence on the private players.

3. Vertical hierarchical reporting structure with manydesignation s and cadres leading to power politics atall levels without any exception.

4. Poor retention percentage of tied up a gents.


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y OPPORTUNITIES

1. Insurable population : Accor ding to IRD A only 10% ofthe population is insured which represents around 30% ofthe insurable population. This suggests more than 300mpeople, with the potential to buy insurance, remainuninsured.

2. There will be in flow of managerial and financialexpertise from the world s leading insurance markets.Further the burden of educating consumer s will also beshared among many players.

3. Inter national companies will help in building world classexpertise in local market by introducing the best globalpractices.


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y THREATS1. Other private insurance companies also vying for thesame uninsured population.

2. Big public sector insurance companies like LifeInsurance Corporation (L IC) of India, National InsuranceCompany Limited, Oriental Insurance Limited, New India

Assurance Company Limited and United India InsuranceCompany Limited. People trust and go to them more.

3. Poaching of customer base by other companies.4. Most people don t under stand the need or are notwilling to take insurance policies in general.


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CONCLUSI ON

The India Insurance Market despite having a highlyelaborate history spanning almost two centuries, hascome of age only in the last 50 year s after the formationof the Life Insurance Corporation (L IC) of India in 1956and the entry of private companies into the market fromthe late 90 s and early 2000.

The fact that only 10% of the 30% insurable population isinsured i.e., more than 300m people, with the potential tobuy insurance, remain uninsured speaks of the volume ofscope this field has for young graduates and professionalswho can take up career s in the insurance sector .

As people get more educated about the need of havinginsurance especially during times like this, a career in theinsurance sector is both rewarding as w ell as challenging.


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With a huge population base and large untapped market,insurance industry is a big opportunity area in India fornational as well as foreign investors. India is the fifth

largest life insurance market in the emerging insuranceeconomies globally and is growing at 32-34%annually. This impressive growth in the market has beendriven by liberalization, with new players significantlyenhancing product awareness and promoting consumereducation and information. The strong growth potential ofthe country has also made international players to look atthe Indian insurance market. Moreover, saturation of

insurance markets in many developed economies hasmade the Indian market more attractive for internationalinsurance players, according to 'Booming InsuranceMarket in India (2008-2011).


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LEARNING

Well the main learning that I took from my short stint as a

trainee at HDFC Standard Life Insurance can be dividedinto two parts.

The first par t contains my stint as a salesman (an F.C . isa salesman in most way s) wherein I came to learn aboutthe tough nature of the job profile (any sales job ingeneral), how much persuasive we have to be if wear e tobe successful in any sales process and how much onehas to do follow-ups and broaden his social contacts inorder to have a competitive edge over his competitors.

The second aspect of learning that I had was more on softskills. I came to learn the value of patience when things

get tough, a brie f idea on how to open and close- in a calland also how to generate a need f or my product. Apartfrom that, this short tenure also helped me to get an ideaof the present market conditions.


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Life Insurers

S.No NAME OF THE COMPANY NAME OF PRINCIPALOFFICER

NAME OFAPPOINTED

ACTUARY

TELEPHONE NO./FAX No./E-MAIL &WEB ADDRESS

1. Bajaj Allianz Life Insurance Company Limited .GE Plaza, Airport Road , YerawadaPune 411 006

Mr. Varghese Philip Mr. Anil KumarSingh

Tel : 020 - 66026777Fax : 020 -66026789.

2. Birla Sun Life Insurance Co. LtdReg. Office: One India Bulls Centre, Tower 1,16th Floor, Jupiter Mill Compound, 841 , SenapatiBapat Marg, Elphinstone Road,Mumbai-400013.

Mr. Jayant Dua Mr. Fabien JeudyTel.- + 91 22 43569000

Email :[email protected]

Toll-free:1-800-270-7000

3. HDFC Standard Life Insurance Co. Ltd

19th Floor, Lodha Excelus,Apollo Mills Compound,N.M. Joshi Road,Mahalaxmi,Mumbai - 400 011

Mr. Amitabh Chaudhry Mr. Ashley EdwardR

ebello

Tel : 022-67516666

4. ICICI Prudential Life Insurance Co. LtdICICIPrulifeTowers , 1089, Appasaheb MaratheMarg, Prabhadevi,Mumbai 400 025.

Mr. Sandeep Bakhshi Mr. Avijit Chatterjee Tel :022-56621996Fax: 022-56622031

5. ING Vysya Life Insurance Company Ltd.ING Vysya Home, 5th Floor, #22 Mahatmagandhi RoadBangalore-560 001.

Mr.Kshitij Jain Mr.B.N.Rangarajan Tel : 080-25328000Fax: 080-25559764

6. Life Insurance Corporation of IndiaYogakshema,Jeeva Bima Marg, Post Box No. 19953 MUMBAI400 021

Shri T S. Vijayan Mr. T Bhargava Tel 56598701;56598702Fax: 22824386E-Mail ; [email protected]

7. Max New York Life Insurance Co. Ltd11th Floor, DLF Square , JacarandaMarg,DLFCity , Phase-II, GURGAON 122 002.

Shri Rajesh Sud Mr.John CharlesPoole Tel : 0124-2561717Fax: 0124-2561764

8. Met Life India Insurance Company Ltd.Brigade Seshamahal, No. 5, Vani VilasRoad , Basavanagudi, BANGALORE-560 004.

Mr. Rajesh Relan Mr. M S V S Phanesh Tel : 080-26438638

Fax: 080-26521970Toll Free No. 1-600-44-6969

9. Kotak Mahindra Old Mutual Life InsuranceLimited9th Floor, Godrej Coliseum,Behind Everard Nagar,Sion (East),MUMBAI-400 022..

Mr. Pankaj Desai Mr. Andrew WillisCartwright

Tel : 022-6621 5999Fax:022-6621 5757, 6621 5858

10. SBI Life Insurance Co. LtdNatraj, M.V.Road & Western Express

Mr. Mahadev NagendraRao

Mr. Sanjeev KumarPujari

Tel : 022-61910011Fax: 022-56621471


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Highway Junction, Andheri (East), Mumbai-400069

11. Tata AIG Life Insurance Company Limited5th 7 6th Floor, Peninsula Tower,

Peninsula Corporate ParkGanpatrao Kadam Marg, Lower Parel,

MUMBAI 400 013.

Mr. M. Suresh Mr. Heerak Basu Tel :022-66516000Fax : 022-66550711

12 Reliance Life Insurance Company Limited.9th floor & 10th floor, Building No. 2, R-TechPark, Nirlon Compound, Next to Hub Mall,Behind I - Flex Building, Goregaon (East),Mumbai - 400 063

Mr. Malay Ghosh Ms. Pournima Gupte Tel : 022-30883434/ 30887261Fax: 022-30886587

13 Aviva Life Insurance Company India LimitedAvivaTower, SectorRoad, Opposit GolfCourse,DLF-Phase V, Sector-43,Gurgaon - 122 003

Mr. T. R.Ramachandran

Mr. SanjeebKumar

Tel: 0124-270 9000/01,Fax: 0124-270 9007.

14 Sahara India Life Insurance Co, Ltd.SaharaIndia Bhawan,

Kopoorthala Complex,Lucknow 226024

Mr. N. P. Bali CEO(Officiating)

Mr. Pravir Chandra Tel: 0522-2337777Fax: 0522-2378200

15 Shriram Life Insurance Co, Ltd.Regd. Office : 3-6-478, 3rd Floor,AnandEstate, Liberty Road, HimayatNagar, Hyderabad - 500029

MrRDuruvasan Mr. Theo BernhardScheffler

Tel: 040-23434466-72Fax: 040-23434488

16 Bharti AXA Life Insurance Company Ltd.601-602 6th Floor,Raheja Titanium

Off Western Express HighwayGoregaon (E)Mumbai 400 063

Mr. MilindChalisgaonkar

Mr.Venkatasubramanian

Tel: 022 40306300/6301Fax: 022 - 40306347

17 Future Generali India Life InsuranceCompany Limited001, Delta Plaza, Ground Floor, 414,Veer Sarvarkar Marg, Prabhadevi,Mumbai 400 025.

Mr. Deepak Sood Mr. D Sai Srinivas Tel No.:022-40976666

Fax No.:022-40976600

18 IDBI Federal Life Insurance Company Ltd.,Tradeview, Oasis Complex, Kamala City, P.B.Marg,Lower Panel (W),

Mumbai-400 013

Mr.G.V. NageswaraRao

Mr. Michael J Wood Tel No.:

022-24908109/10

Fax No.:

022-24941016

19 Canara HSBC Oriental Bank of CommerceLife Insurance Company Ltd.1st Floor, B Block, First India Place, VatikaTower, MG Road,Sushant Lok, Phase I

Gurgaon 122002

Mr. John DavidHolden,CEO & WTD

Mr. Chirag ShamjiRathod

Tel: 0124 44535506Fax: 0124-44535999

20 AEGON Religare Life Insurance Company MR. Rajiv Jamkhedkar Mr. K.S. Tele No.-


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Limited.GYS Heights, 2nd Floor, Paranjpe BScheme, Subhash Road, Near Garware House,Vile Parle (E), Mumbai 400 057

Gopalakrishnan 022-67292929Fax No.-022 67293333

21 DLF Pramerica Life Insurance Co. Ltd.

4th Floor Tower B, Building No.-9,DLFCyberCity, Phase-III,Gurgaon-122002.

Mr. PavanDhamija(MD & CEO)

Mr. Pradeep KumarThapliyal

Ph. No.-0124-4697000

Fax No.-0124-4697100 / 200

22 Star Union Dai-ichi Life Insurance Co. Ltd.,Star House, 3rd Floor, (West Wing), C-5,Bandra-Kurla Complex, Bandra (East),Mumbai 400 051

Mr. Kamalji Sahay

(MD & CEO)

Mr. I SAMBASIVA

RAO

Phone: 022-39546211 e-mail:

[email protected]

23 IndiaFirst Life Insurance Company Limited301, 'B' Wing, The Qube, Infinity Park,Dindoshi - Film City Road,

Malad (East), Mumbai - 400 097.

Dr. P. Nandagopal Mr. Chandan KumarKhasnobis

Phone:022 39418700Fax:022 33259500


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Non-life Insurers

Non-Life Insurers

F THE COMPANY NAME OF THE PRINCIPALOFFICER

NAME OF THE

APPOINTED ACTUARYTELEPHONE NO./

MAIL & WEB ADD

nz General Insurance Co. Ltd.

, Airport Road, Yerawada,006.

Mr. Hemant Kaul Ms. Asha J. Joshi Tel : 020-6602 666Fax: 020-6602 666

bard General Insurance Co. Ltd.

use,o Khade Marg,Mahalaxmi-400 034.

Mr. Bhargav Dasgupta Mr. Liyaquat KhanTel : 022-24906999

Fax: 022-24927624

kio General Insurance Co. Ltd.

Floors, IFFCO Tower, Plot No.3,,N-122001

)

Mr.S. Narayanan Mr. K.K. Wadhwa Tel : 0124-2850100Fax: 0124-2577923

nsurance Co.Ltd.

ton Street, P.B. No. 9229,A 700 071.

Mr. N. S. R. Chandraprasad

Mr. BhudebChatterjee Tel : 033-22831705

Fax : 033-2283171

India Assurance Co. Ltd.

Assurance Bldg. 87, M.G. Road,

00 001.

Mr. M Ramadoss Mr.A.R.Prabhu Tel: 022-22674617 -Fax: 022-22652811Email: cmd. nia@neWeb-site: www.newi

tal Insurance Co. Ltd.

Asaf Ali Roadi 110 002.

Mr. RavinderKumarKaul Mr. Yash Paul Sabharwal Tel :011-23279221-Direct:23265024Fax: 23287192,23223283971


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Reliance General Insurance Co. Ltd.

570, Naigaum Cross Road ,Next to Royal IndustrialEstate,Wadala(West),MUMBAI 400 031

Mr. Vijay Pawar

Mr.Gopalakrishna Pai Tel.No.022-30479602Board no:022-30479600Fax. No.022-330479650

Royal Sundaram Alliance Insurance Co. Ltd"Sundaram Towers" 45-46, WhitesRoad,RoyapetahCHENNAI-600 014.

Mr. Ajay Singh Bimbhet Ms. Tania Chakrabarti Tel: 044-42227373Fax: 044-28517376Email:[email protected]: ww.royalsundaram.

Tata AIG General Insurance Co. Ltd.Peninsula Corporate Park,Nicholas Piramal Tower, 9th FloorGanpatrao Kadam MargLower ParelMUMBAI 400 013.

Mr. Gaurav Garg Mr.Saket Singhal Tel : 022-66699696Fax: 022-56546464

Email: [email protected]: www.tata-aiggenera

.United India Insurance Co. Ltd.

24, Whites RoadCHENNAI 600 014.

Mr. G. Srinivasan Mr.S.KrishnanTel : 044-28520161Fax : 044-28523825

. Cholamandalam MS General Insurance Co.Ltd."Dare House" 2nd Floor, New No.2 (OldNo. 234) N.S.C. Bose Road,Chennai - 600 001

Mr. S. S. Gopalarathnam Mr. O. LakshminarayanaTel : 044-42166000Fax : 044-42166001

. HDFC ERGO General Insurance Co. Ltd.6th Floor, Leela BusinessPark, AndheriKurla Road,

Andheri (East),Mumbai - 400 059.

Mr. Ritesh KumarMr. Narayanan Laksmanan

Tel : 022-6638 3600Fax : 022-6638 3699

. Export Credit Guarantee Corporation of IndiaLtd.10th Floor, Express Towers,

Nariman Point,Mumbai 400021

Sri A.V. MuralidharanTel :022-56590512-515Fax : 022-56590517

022-56590530

. Agriculture Insurance Co. of India Ltd.13th Floor, 14 K.G. Marg,Connaught Place,New Delhi - 110001

Mr. M. Parshad Mr. S. Chidambaram Tel :011-41081991-4,Fax : 011-41081995Email: [email protected]


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Web-site: www.aicofindia.org

. Star Health and Allied Insurance CompanyLimited

No.1, New Tank Street,Vlluvarkottam High Road,Nungambakkam,Chennai - 600 034

Mr. V. Jagannathan Mr. N Srinivasan Tel :044-28260053,

Fax :044-28260062

. Apollo Munich Health Insurance CompanyLimitedBuilding No. 10B,10th FloorDLF CybercityGurgaon 122001Haryana, India

Mr. Antony Jacob Mr. Herbert Meister Tel No: +91-124-4584100

. Future Generali India Insurance CompanyLimited001, Trade Plaza, Ground Floor,414, Veer Sarvarkar Marg,Prabhadevi, Mumbai 400 025

Mr. K. G. Krishnamoorthy Mr. Biresh Giri Telephone No.:+91-22-4097-6666

Fax No.: +91-22-40976868

Universal Sompo General Insurance Co. Ltd.310-311, Trade Centre,Opp. MTNL Building,Bandra Kurla Complex,Bandra(E)

Mumbai-400 051.

Mr. O.N. Singh Mr. Prem Chand Gupta Tele. No.- 022-4028 7777Fax No.-022-4028 7781

Shriram General Insurance CompanyLimited,E-8, EPIP, RIICO Industrial Area,Sitapura,

Jaipur-302022 (Rajasthan)

Mr. J.S.gujral Mr. P A Balasubramanian Tele. No.- 0141-3928400, 89

900, 902Fax No.-0141-2770693,692

Bharti AXA General Insurance CompanyLimitedFirst Floor, The Ferns Icon

Survey No.28, Next to Akme Ballet

Doddanekundi, Off Outer Ring Road

Bangalore 560 037

Dr. AmarnathAnanthanarayananMr M Venkatesan Phone no:080-40260100

Fax. No 080-40260101

www.bharti-axagi.co.in


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Raheja QBE General Insurance CompanyLimited,

Commerz, 10th Floor,

International Business Park,

Oberoi Garden City,

Western Express Highway,

Goregaon (East),

Mumbai-400 063.

Mr. Praveen Gupta Mr. A P Peethambaran

SBI General Insurance Company Limited

The IL & FS Financial Centre

7th Floor, Plot C 22, G Block,

Bandra Kurla Complex,

Bandra East,

Mumbai 400 051

Mr. Rammohan Rao Belle MD &CEO

Ms. Sharon DCosta Tel.022- 30698922/55/01

Fax: 022-30698958/68

Max Bupa Health Insurance Company Ltd.

Max Bupa Health Insurance Co.Ltd., Corporate Address

2nd Floor, Salcon Rasvilas,

D-1 District Centre, Saket,

New Delhi 110 017.

Dr. Damien Marmion Dr. K. Sriram Tel: .011-30902000/3090212

Fax: 011-30902010

L&T General Insurance Company Limited

601-602, Trade Centre

Bandra Kurla Complex

Bandra (East)

Mumbai 400051.

Mr. Joydeep Kumar Roy Mr. Arpan N. Thanawala Tel: +91-22-61230000Fax: +91-22-61230145


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BIBILOGRAPHY

1. www.hdfcinsu rance.com2. www.wikipedia.com3. Text book for pre-recruitment examination for lifeinsurance a gents prescribed by IRD A.

training report honey matta

Documents